Closed-Market Transaction

Unlike open-market transactions where investors buy/sell on the open market ("Google is doing well; let's buy some.") these kinds of transactions happen when an insider buys or sells directly from or to a company.

Usually, these sorts of transactions happen when an employee is trading company shares or stock options with the company itself. There are all sorts of rules that insiders and companies have to follow in these types of transactions to make sure that everything is on the up-and-up. These transactions don't usually affect market prices for stocks and securities on the open market.