 Shares of Citizens Northern Inc NASDAQ:CZNC rose by 4.9 from the previous closing price. Lehman Terry L filed a Form 4 with the SEC on Thursday, June 18. The insider bought 3,000 shares at an average price of 19.93. After the transaction, the executives stake in Citizens Northern Inc. moved to 13,259 shares.Why Insider Transactions Are Important? Insider transactions shouldnt be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision. Insiders buying stock after a notable sell off can indicate an insiders long-term belief in the success of the company; insiders buying stock at new highs can be an indication the exec doesnt feel the stock is overvalued. Conversely, insiders who are selling stock at new lows can potentially indicate some kind of capitulation moment. Insiders selling at new highs can indicate that exec wants to take some profit and lock in a gain.Important Transaction Codes Investors prefer focusing on transactions which take place in the open market, indicated in the Form 4 with codes P for purchase and S for sale. An open-market transaction means the insider went into the market of their own volition and made an active decision about the potential path for a company and its stock moving forward. Transaction codes other than P or S are often viewed with less conviction as they are often not tied to a decision by the exec. As an example, transaction code C indicates the conversion of an option. Transaction code A indicates the insider may have been forced to sell shares in order to receive compensation the exec was promised upon being hired by a company.See more from Benzinga Price Over Earnings Overview: Lyft Insider Buys Consumers Bancorps Shares Insider Sells Owl Rock Capitals SharesC 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 