The Securities and Exchange Commission established a rule in 2000 that gives insiders at publicly traded companies more flexibility in trading the shares they hold in their own company. Insiders, defined as executives, directors and major shareholders, can adopt a plan to sell shares in the future and are protected from accusations of illegal trading of insider information free of charge. is that they had no non-public knowledge when setting up the plan. Some executives and directors are required to have plans reviewed and approved by their companies.
These preset trading plans, often referred to as 10b5-1 plans after the regulation that created them, have accounted for at least 60 percent of insider trading in recent years, according to a Wall Street Journal analysis of disclose the transactions of the insiders.
https://www.wsj.com/articles/methodology-how-the-journal-analyzed-the-data-on-insider-stock-sales-11656514208?mod=rss_markets_main Methodology: How the journal analyzed data on internal stock sales