First Internet Bancorp
US ˙ NasdaqGS ˙ US3205571017

Introduction

This page provides a comprehensive analysis of the known insider trading history of Perfetti C. Charles. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. We then calculate the average performance of those trades over 3, 6, and 12 months, averaging each of those durations to generate a final performance metric for each trade. Finally, we average all of the performance metrics to calculate a performance metric for the insider. This list only includes insiders that have made at least three trades in the last two years.

If this insiders trade profitability is "N/A", then the insider either has not made any open-market purchases in the last three years, or the trades they’ve made are too recent to calculate a reliable performance metric.

Update Frequency: Daily

See the list of most profitable insider traders.

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Companies with Reported Insider Positions

The SEC filings indicate Perfetti C. Charles has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
US:INBK / First Internet Bancorp Executive Vice President 63,137
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Perfetti C. Charles. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases INBK / First Internet Bancorp - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in INBK / First Internet Bancorp. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Max		 Price at
Max		 Max
Profit ($)		 Max Return (%)
2020-03-20 INBK Perfetti C. Charles 2,000 14.2600 2,000 14.2600 28,520 360 38.77 49,020 171.88
2014-09-19 INBK Perfetti C. Charles 1,000 15.9000 1,000 15.9000 15,900
2014-09-19 INBK Perfetti C. Charles 1,000 15.9500 1,000 15.9500 15,950
2014-07-31 INBK Perfetti C. Charles 1,000 17.7500 1,000 17.7500 17,750
2014-07-29 INBK Perfetti C. Charles 500 18.2500 500 18.2500 9,125
2014-07-29 INBK Perfetti C. Charles 500 18.0000 500 18.0000 9,000
2014-07-29 INBK Perfetti C. Charles 500 18.1500 500 18.1500 9,075
2014-07-29 INBK Perfetti C. Charles 500 18.1000 500 18.1000 9,050
2013-11-27 INBK Perfetti C. Charles 2,000 20.0000 2,000 20.0000 40,000
2013-03-26 INBK Perfetti C. Charles 800 24.0000 800 24.0000 19,200

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

INBK / First Internet Bancorp Insider Trades
Insider Sales INBK / First Internet Bancorp - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in INBK / First Internet Bancorp. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date Ticker Insider Reported
Shares		 Reported
Price		 Adjusted
Shares		 Adjusted
Price		 Cost Basis Days to
Min		 Price at
Min		 Max Loss
Avoided ($)		 Max Loss
Avoided (%)
There are no known unplanned open-market trades for this insider and security combination

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

INBK / First Internet Bancorp Insider Trades
Insider Trading History

This table shows the complete list of insider trades made by Perfetti C. Charles as disclosed to the Securities Exchange Commission (SEC).

File Date Tran Date Form Ticker Security Code 10b5-1 Shares Remaining Shares Percent
Change		 Share
Price		 Tran
Value		 Remaining
Value
2022-04-04 2022-03-31 4 INBK First Internet Bancorp
Common Stock 		F - Taxes -548 63,137 -0.86 43.01 -23,569 2,715,522
2022-03-21 2022-03-17 4 INBK First Internet Bancorp
Common Stock 		A - Award 1,429 63,685 2.30
2022-01-04 2021-12-31 4 INBK First Internet Bancorp
Common Stock 		F - Taxes -379 62,256 -0.61 47.04 -17,828 2,928,522
2021-01-20 2021-01-18 4 INBK First Internet Bancorp
Common Stock 		A - Award 2,230 62,642 3.69
2020-03-23 2020-03-20 4 INBK First Internet Bancorp
Common Stock 		P - Purchase 2,000 60,396 3.42 14.26 28,520 861,247
2020-02-03 2020-01-31 4 INBK First Internet Bancorp
Common Stock 		A - Award 2,429 58,396 4.34
2020-02-03 2020-01-31 4 INBK First Internet Bancorp
Common Stock 		A - Award 6,751 55,967 13.72
2019-01-24 2019-01-22 4 INBK First Internet Bancorp
Common Stock 		A - Award 3,507 49,168 7.68
2018-01-17 2018-01-15 4 INBK First Internet Bancorp
Common Stock 		A - Award 4,031 45,587 9.70
2017-01-18 2017-01-16 4 INBK First Internet Bancorp
Common Stock 		A - Award 3,238 41,513 8.46
2016-01-26 2016-01-22 4 INBK First Internet Bancorp
Common Stock 		A - Award 3,354 38,223 9.62
2015-01-06 2015-01-02 4 INBK First Internet Bancorp
Common Stock 		A - Award 5,000 34,836 16.76 16.69 83,450 581,413
2014-09-24 2014-09-19 4 INBK First Internet Bancorp
Common Stock 		P - Purchase 1,000 29,836 3.47 15.95 15,950 475,884
2014-09-24 2014-09-19 4 INBK First Internet Bancorp
Common Stock 		P - Purchase 1,000 28,836 3.59 15.90 15,900 458,492
2014-07-31 2014-07-31 4 INBK First Internet Bancorp
Common Stock 		P - Purchase 1,000 27,836 3.73 17.75 17,750 494,089
2014-07-30 2014-07-29 4 INBK First Internet Bancorp
Common Stock 		P - Purchase 500 26,836 1.90 18.10 9,050 485,732
2014-07-30 2014-07-29 4 INBK First Internet Bancorp
Common Stock 		P - Purchase 500 26,336 1.94 18.15 9,075 477,998
2014-07-30 2014-07-29 4 INBK First Internet Bancorp
Common Stock 		P - Purchase 500 25,836 1.97 18.00 9,000 465,048
2014-07-30 2014-07-29 4 INBK First Internet Bancorp
Common Stock 		P - Purchase 500 25,336 2.01 18.25 9,125 462,382
2013-12-02 2013-11-27 4 INBK First Internet Bancorp
Common Stock 		P - Purchase 2,000 24,836 8.76 20.00 40,000 496,720
2013-08-14 2013-07-22 4/A INBK First Internet Bancorp
Common Stock 		A - Award 1,800 22,836 8.56 25.09 45,162 572,955
2013-07-24 2013-07-22 4 INBK First Internet Bancorp
Common Stock 		A - Award 1,800 15,824 12.84 25.09 45,162 397,024
2013-03-27 2013-03-26 4 INBK First Internet Bancorp
Common Stock 		P - Purchase 800 14,024 6.05 24.00 19,200 336,576
2013-02-21 3 INBK First Internet Bancorp
Common Stock 		13,224
P
Open market or private purchase of non-derivative or derivative security
S
Open market or private sale of non-derivative or derivative security
A
Grant, award, or other acquisition of securities from the company (such as an option)
C
Conversion of derivative
D
Sale or transfer of securities back to the company
F
Payment of exercise price or tax liability using portion of securities received from the company
G
Gift of securities by or to the insider
K
Equity swaps and similar hedging transactions
M
Exercise or conversion of derivative security received from the company (such as an option)
V
A transaction voluntarily reported on Form 4
J
Other (accompanied by a footnote describing the transaction)