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Tax & Legal
Director Trade
Definition
A purchase or sale of company shares by a director, lodged with the ASX via an Appendix 3Y change-of-interest notice within 14 days. Often watched as a sentiment signal by short sellers.
Related Terms
Insider Trading
Trading on material non-public information, prohibited under Corporations Act s1043A. ASIC actively prosecutes insider-trading cases. Director trades are publicly disclosed via Appendix 3Y notices.
Continuous Disclosure
ASX Listing Rule 3.1 requires listed entities to immediately disclose information a reasonable person would expect to materially affect the share price. Underpins the price-sensitive flag on ASX announcements.
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