Filing lag
In plain English
The number of days between when a stock trade actually happened and when it was disclosed in a public filing. A short lag means the public saw the trade quickly; a long lag means the trader's positioning was private for longer.
Formal definition
The temporal delta between a transaction's execution date and the date its disclosure document was filed with the relevant authority (House Clerk, Senate eFD, SEC EDGAR). Material primarily under the STOCK Act's 45-day reporting window for Members of Congress, and the 2-business-day requirement for Section 16 insiders filing Form 4.
Example
A 7-day filing lag (trade on Monday, filed the following Monday) is well inside the STOCK Act's 45-day window. A 40-day filing lag is also legal — but it means the position was unobservable to the public for nearly six weeks.
Related
Educational only. TrustFirst is not a registered investment adviser and does not provide personalized investment advice. This definition is written to teach the concept; it is not a recommendation to take any specific action.