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Numerous articles on financial websites cited rising insider selling this past week, and according to TrimTabs, November was the fourth highest month on record. Given the extreme volatility in September and October, it is not surprising to see a big uptick. A market still hovering near all-time highs also contributed.

We cover insider selling every week at 24/7 Wall St., and we like to always remind readers that just because an individual or 10% institutional owner is selling stock, that is no cause for immediate alarm, nor is volume jumping dramatically in one month. Many top executives, and even directors, are compensated with stock and often sell just to diversify or purchase other assets.

Here are companies that reported notable insider selling this past week.

Aflac Inc. (NYSE: AFL) had the president of the company selling shares last week. Kriss Cloninger shed a total of 88,000 shares at prices between $61.98 and $63.02. The total for the sale came to an even $5.5 million. The company through its subsidiary, American Family Life Assurance Company of Columbus, provides supplemental health and life insurance products. It operates through two segments: Aflac Japan and Aflac U.S. The shares closed trading on Friday at $59.71, so a well-timed sale, it appears.

Shake Shack Inc. (NYSE: SHAK) was one of the hottest IPOs of 2015, and it has come back in from huge highs. That didn’t stop a 10% owner from selling stock. Green Equity Investors sold 100,000 shares at prices that fell between $42.92 and $44.47. The total for the sale came to $4.4 million. The company owns, operates and licenses Shake Shack restaurants in North America, Europe and Asia. It offers hamburgers, hot dogs, crinkle-cut fries, shakes, frozen custard, beer and wine. Shares ended the week at $41.19.

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