Insider trading is usually framed around CEOs, board members, and officially designated insiders. These are the people regulators monitor closely. But modern corporations contain many other employees with access to valuable information. This paper studies whether these “below-the-top” executives trade profitably on material non-public information. Flying below the radar: Insider trading by executives below the top was originally published at Alpha Architect . Please read the Alpha Architect disclosures at your convenience.

• Description is available (+5)