1. Agreement to Terms

By accessing or using averageinsider.com (the “Website,” “Site,” “we,” “us,” or “our”), you (“you” or “User”) agree to be bound by these Terms of Service (“Terms”). If you do not agree to these Terms, you must not access or use the Website.

We reserve the right to modify these Terms at any time. Changes become effective upon posting to the Website. Your continued use of the Website after any changes constitutes acceptance of the revised Terms. We encourage you to review these Terms periodically.

2. Description of Service

Average Insider is a financial data platform that tracks insider trading activity reported to the U.S. Securities and Exchange Commission (“SEC”) through Form 4 filings. Our services include but are not limited to:

(a) Aggregation and display of SEC Form 4 filing data; (b) Detection and reporting of cluster buy signals; (c) Insider buy/sell ratio analysis by sector and industry; (d) Company-level insider transaction histories; (e) Earnings calendar data; (f) Daily email newsletters summarizing insider trading activity; and (g) User accounts with personalized alerts and watchlists.

3. Not Investment Advice

3.1 Informational Purposes Only

All content on this Website — including but not limited to data, analysis, commentary, newsletters, charts, ratios, fair value estimates, and any other information — is provided for informational and educational purposes only. Nothing on this Website constitutes investment advice, financial advice, trading advice, tax advice, legal advice, or any other form of professional advice.

3.2 No Recommendation to Buy or Sell

The presentation of insider trading data, cluster buy signals, buy/sell ratios, or any other information on this Website does not constitute a recommendation, solicitation, or offer to buy, sell, or hold any security, financial product, or investment. The fact that an insider has purchased or sold shares in a company does not mean that such transaction is appropriate for any other investor.

3.3 Consult a Professional

You should consult with a qualified financial advisor, licensed broker-dealer, registered investment advisor, accountant, attorney, or other professional before making any investment decisions. You are solely responsible for evaluating the merits and risks of any investment decision you make.

3.4 Risk Disclosure

All investments carry risk, including the potential loss of principal. Past performance — including the past performance of insider trades — is not indicative of future results. Insider trading patterns may not be predictive of future stock price movements.

3.5 No Fiduciary Relationship

Your use of this Website does not create a fiduciary, advisory, agency, or professional relationship between you and Average Insider.

4. Data Accuracy and Limitations

4.1 Data Sources

The data displayed on this Website is derived from publicly available SEC filings, third-party financial data providers, and our own analytical processes. While we strive for accuracy, we do not guarantee that any data on this Website is complete, accurate, current, or error-free.

4.2 Delays and Errors

Data may be subject to delays in processing, transmission errors, or inaccuracies in the underlying SEC filings or third-party data sources. Prices, earnings estimates, financial metrics, and other data points may not reflect real-time values.

4.3 No Warranty of Data

We provide all data on an “as is” and “as available” basis. We disclaim all warranties, express or implied, regarding the accuracy, completeness, timeliness, reliability, or suitability of any data for any particular purpose.

4.4 Reporting Errors

If you believe any data on the Website is inaccurate, please contact us at [email protected]. We will make reasonable efforts to investigate and correct confirmed errors, but we are under no obligation to do so within any specific timeframe.

5. User Accounts

5.1 Registration

Certain features of the Website require you to create an account. You agree to provide accurate, current, and complete information during registration and to update such information as necessary.

5.2 Account Security

You are responsible for maintaining the confidentiality of your account credentials and for all activity that occurs under your account. You agree to notify us immediately of any unauthorized access to or use of your account.

5.3 One Account Per Person

Each individual may maintain only one account. We reserve the right to terminate duplicate accounts.

5.4 Account Termination

We reserve the right to suspend or terminate your account at any time, with or without notice, for any reason, including but not limited to violation of these Terms.

6. Newsletter and Email Communications

6.1 Subscription

By subscribing to our newsletter, you consent to receive daily or periodic email communications containing insider trading data, analysis, and related content.

6.2 Unsubscribe

You may unsubscribe from our newsletter at any time by using the unsubscribe link provided in each email or by adjusting your account settings.

6.3 Newsletter Content

Newsletter content is subject to the same disclaimers set forth in Section 3 (Not Investment Advice) and Section 4 (Data Accuracy and Limitations). Newsletter content may differ from content displayed on the Website.

7. Acceptable Use

7.1 Permitted Use

You may use the Website for your personal, non-commercial purposes in accordance with these Terms. You may view, download, and print content from the Website for your own personal reference, provided you do not remove any copyright, trademark, or other proprietary notices.

7.2 Prohibited Conduct

You agree not to:

(a) Use the Website for any unlawful purpose or in violation of any applicable law or regulation; (b) Reproduce, distribute, publicly display, or create derivative works from the content on this Website for commercial purposes without our prior written consent; (c) Resell, redistribute, or commercially exploit any data obtained from this Website; (d) Use the Website to transmit any malware, viruses, or other harmful code; (e) Attempt to gain unauthorized access to any portion of the Website, its servers, or any connected systems; (f) Interfere with or disrupt the operation of the Website or the servers or networks used to make the Website available; (g) Impersonate any person or entity, or falsely represent your affiliation with any person or entity; (h) Use any data mining, robots, or similar data gathering or extraction methods on the Website, except as expressly permitted in Section 8; or (i) Frame, mirror, or otherwise incorporate any portion of the Website into any other website or service without our prior written consent.

8. Automated Access

8.1 General

Access to this Website by automated systems, including but not limited to web crawlers, scrapers, bots, spiders, and artificial intelligence agents, is permitted only in accordance with this Section 8 and the directives set forth in our robots.txt file located at https://averageinsider.com/robots.txt. By accessing this Website through any automated means, you agree to be bound by these Terms.

8.2 Robots.txt Compliance

All automated systems must read, respect, and comply with the robots.txt file prior to accessing any page on this Website. The robots.txt file is incorporated into these Terms by reference. Compliance includes but is not limited to:

(a) Restrictions on specific URL paths or directories; (b) Crawl-delay directives specifying minimum intervals between requests; and (c) User-agent-specific rules limiting or expanding access for identified crawlers.

Failure to comply with the robots.txt file constitutes unauthorized access in violation of these Terms.

8.3 Rate Limiting

Automated systems must not submit requests at a rate that degrades the performance or availability of this Website for human users. We reserve the right to throttle, block, or deny access to any automated system that, in our sole discretion, places an unreasonable burden on our infrastructure. A pattern of requests exceeding the rate specified in our robots.txt file, or exceeding one (1) request per second in the absence of a specific directive, shall be presumed unreasonable.

8.4 Search Engine Indexing

We expressly permit automated crawling of this Website for the purpose of indexing content for inclusion in publicly available search engine results, provided the crawler complies with Sections 8.2 and 8.3 above. This permission extends to search functionality integrated into conversational AI systems, provided that:

(a) The content retrieved is used to generate a response to a specific end-user query; (b) The response includes attribution to averageinsider.com with a direct link to the source page; and (c) The content is not stored, cached, or retained beyond what is necessary to generate the immediate response.

9. Artificial Intelligence and Machine Learning

9.1 Prohibition on Unauthorized AI Training

No content from this Website — including but not limited to text, data, data compilations, analysis, page layouts, and metadata — may be used to train, fine-tune, validate, evaluate, or otherwise develop any machine learning model, artificial intelligence system, large language model, or derivative technology without our prior written authorization. This prohibition applies regardless of whether the content is accessed directly from this Website, obtained through a third-party intermediary, extracted from cached copies, or retrieved from search engine results.

9.2 Scope of Prohibition

The prohibition in Section 9.1 includes but is not limited to:

(a) Pre-training or fine-tuning of foundation models or large language models; (b) Reinforcement learning from human feedback (RLHF) or similar techniques; (c) Retrieval-augmented generation (RAG) pipelines that index or embed our content for repeated retrieval; (d) Creation of synthetic datasets derived from our content; (e) Distillation of our data or analysis into competing products or services; and (f) Any process that systematically ingests our content for the purpose of building or improving an AI system, regardless of whether the resulting system retains verbatim copies of the content.

9.3 Permitted AI Uses

Notwithstanding Section 9.1, the following uses are permitted without prior written authorization:

(a) Real-time search retrieval: Accessing individual pages in response to a specific end-user query, provided the requirements of Section 8.4 are met, including attribution with a link to the source page;

(b) Personal, non-commercial use: An individual user providing content from this Website as input to an AI system for their own personal, non-commercial analysis; and

(c) Authorized partners: Entities that have entered into a separate written agreement with Average Insider governing AI-related use of our content.

9.4 Attribution Requirement

Any AI system, conversational agent, or automated service that presents information derived from this Website to an end user must provide clear attribution to Average Insider, including a functional hyperlink to the specific source page on averageinsider.com from which the information was obtained. Attribution must be presented in a manner that is visible and accessible to the end user.

9.5 Licensing Inquiries

Organizations seeking authorization to use content from this Website for AI training, model development, or other uses not covered by Section 9.3 may contact us at [email protected] to discuss licensing arrangements.

10. Intellectual Property

10.1 Ownership

The Website and its original content, features, and functionality — including but not limited to the design, layout, compilation and arrangement of data, analysis, text, graphics, logos, and software — are owned by Average Insider and are protected by United States and international copyright, trademark, and other intellectual property laws.

10.2 SEC Data

We acknowledge that the underlying SEC filing data is in the public domain. However, our compilation, arrangement, analysis, presentation, and enhancement of such data — including but not limited to cluster buy detection algorithms, buy/sell ratio calculations, fair value analyses, and editorial commentary — constitute original works of authorship protected by copyright.

10.3 Trademarks

“Average Insider,” the Average Insider logo, and “Where insiders trade, we follow” are trademarks of Average Insider. You may not use these marks without our prior written consent.

10.4 User Content

By submitting any content to the Website (including but not limited to feedback, suggestions, or bug reports), you grant us a non-exclusive, royalty-free, perpetual, irrevocable, and fully sublicensable right to use, reproduce, modify, adapt, publish, and display such content for any purpose.

11. Third-Party Links and Affiliate Relationships

11.1 Third-Party Links

The Website contains links to third-party websites, tools, and services, including but not limited to financial data platforms, charting tools, and brokerage services. We do not control, endorse, or assume responsibility for the content, privacy policies, or practices of any third-party websites.

11.2 Affiliate Disclosure

Some links on this Website are affiliate links. When you click on an affiliate link and make a purchase, sign up for a service, or take another qualifying action on a third-party website, we may earn a commission at no additional cost to you. Affiliate relationships do not influence the data, analysis, or content presented on this Website. Our affiliate partners currently include, but are not limited to, TradingView and Finviz.

11.3 Third-Party Terms

Your use of any third-party website or service accessed through links on this Website is governed by that third party’s own terms of service and privacy policy. We encourage you to review those terms before proceeding.

12. Privacy

Your use of the Website is also governed by our Privacy Policy, available at averageinsider.com/privacy. The Privacy Policy is incorporated into these Terms by reference.

13. Disclaimer of Warranties

THE WEBSITE AND ALL CONTENT, DATA, AND SERVICES PROVIDED THROUGH THE WEBSITE ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, WE DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT.

WE DO NOT WARRANT THAT: (a) THE WEBSITE WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE; (b) THE DATA OR CONTENT ON THE WEBSITE WILL BE ACCURATE, COMPLETE, OR CURRENT; (c) ANY ERRORS OR DEFECTS WILL BE CORRECTED; OR (d) THE WEBSITE OR ITS SERVERS ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.

YOUR USE OF THE WEBSITE IS AT YOUR SOLE RISK.

14. Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL AVERAGE INSIDER, ITS OWNER, OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, OR AFFILIATES BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO: (a) LOSS OF PROFITS, REVENUE, DATA, OR USE; (b) INVESTMENT LOSSES OR TRADING LOSSES OF ANY KIND; (c) COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; OR (d) ANY OTHER INTANGIBLE LOSSES; ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF OR INABILITY TO USE THE WEBSITE, ANY CONTENT OR DATA OBTAINED FROM THE WEBSITE, OR ANY CONDUCT OR CONTENT OF ANY THIRD PARTY ON THE WEBSITE, WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), STATUTE, OR ANY OTHER LEGAL THEORY, WHETHER OR NOT WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

IN NO EVENT SHALL OUR TOTAL LIABILITY TO YOU FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THE WEBSITE EXCEED THE AMOUNT YOU HAVE PAID TO US, IF ANY, FOR ACCESSING THE WEBSITE DURING THE TWELVE (12) MONTHS PRECEDING THE CLAIM.

15. Indemnification

You agree to indemnify, defend, and hold harmless Average Insider, its owner, officers, directors, employees, agents, and affiliates from and against any and all claims, damages, obligations, losses, liabilities, costs, and expenses (including but not limited to attorney’s fees) arising from:

(a) Your use of the Website; (b) Your violation of these Terms; (c) Your violation of any applicable law or regulation; (d) Your violation of any right of a third party; or (e) Any investment or trading decision you make based in whole or in part on content or data obtained from the Website.

16. Monitoring and Enforcement

16.1 Traffic Monitoring

We monitor access to this Website, including the identification of automated systems by user agent, IP address, and behavioral patterns. We maintain logs of automated and human access for the purpose of enforcing these Terms, ensuring service quality, and protecting our infrastructure.

16.2 Remedies

In addition to any other rights or remedies available at law or in equity, we reserve the right to:

(a) Block or restrict access from any user or automated system that violates these Terms; (b) Seek injunctive relief against any party engaging in unauthorized automated access or unauthorized AI training use; (c) Pursue damages, including but not limited to the fair market value of any content used in violation of these Terms, lost revenue, and any profits derived from the unauthorized use; and (d) Report violations to relevant regulatory authorities.

16.3 No Waiver

Our failure to enforce any provision of these Terms shall not constitute a waiver of our right to enforce such provision in the future. The fact that we have previously permitted or not objected to any use or access pattern does not create a license, implied or otherwise, for continued use or for any use beyond what is expressly permitted in these Terms.

17. Machine-Readable Policies

In addition to these Terms, we may publish machine-readable policy files including but not limited to robots.txt, llms.txt, and ai.txt. These files supplement but do not replace these Terms. In the event of a conflict between a machine-readable policy file and these Terms, these Terms shall control.

18. Governing Law and Dispute Resolution

18.1 Governing Law

These Terms shall be governed by and construed in accordance with the laws of the State of Texas, without regard to its conflict of law provisions.

18.2 Jurisdiction

You agree that any legal action or proceeding arising out of or relating to these Terms or your use of the Website shall be brought exclusively in the federal or state courts located in Collin County, Texas, and you consent to the personal jurisdiction of such courts.

18.3 Informal Resolution

Before filing any formal legal proceeding, you agree to first attempt to resolve any dispute informally by contacting us at [email protected]. We will attempt to resolve the dispute informally within thirty (30) days. If the dispute is not resolved within that period, either party may proceed with formal legal action.

19. Severability

If any provision of these Terms is held to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other provision of these Terms, and the remaining provisions shall continue in full force and effect.

20. Entire Agreement

These Terms, together with our Privacy Policy and any other legal notices or agreements published on the Website, constitute the entire agreement between you and Average Insider regarding your use of the Website and supersede all prior agreements and understandings, whether written or oral, regarding the same subject matter.

21. Contact Information

If you have questions about these Terms, please contact us at:

Average Insider
Email: [email protected]
Website: https://averageinsider.com