To all FNTNers, recently, we have had question raised concerning a few forms - which are required by the SEC.
Perhaps, the following definitions of 144 (Source: Yahoo! Finance Insider Trades Questions and Comments / FAQ) See link below and definitions for 10-K, 10KSB, and 10-Q (Source: Edger Online Form Types) See link below will clear up some of the concerns.
The only question I have, in regards to the 10-K, is this: "when does the fiscal year end?" (Barbara, please ask this question of MS when you see him on Thursday.)
Personal Comment: If the fiscal year ends on June 30, 1998, the 10-K must be filed by the end of September, 1998. However, if the fiscal year is the same as a calendar year, we will not see a form 10-K until March of 1999.
If anyone has lingering question, all I can suggest is that each and every person who has a question, contact a full service broker and ask them how to find answers to your questions. (That information will be free to anyone willing to make the phone call and ask the question.)
Best wishes and good investing, ........-jp
-----------------------
Please read the following:
Source: Yahoo! Finance Insider Trades Questions and Comments / FAQ
biz.yahoo.com
Form 144: Intention To Sell Restricted Securities
Form 144 filings are indicated by ''Planned Sale''. Form 144s must be filed as notice of the proposed sale of restricted securities. Restricted securities are those that are acquired directly or indirectly from an issuer or an affiliate in a transaction (or chain of transactions) not involving a public offering.
An insider may file a Form 144 and not actually complete the sale. If the sale was completed, the insider should have filed a Form 4, indicating the transaction was completed. Form 144s contain additional information which may be beneficial. The data includes the name of the brokerage firm, insider's address, phone number, and the dollar amount of transaction. The amount of stock an insider may sell is ''restricted'' by a number of factors, such as shares outstanding, trading volumes, etc.
The Form 144 must be filed prior to, or on the approximate date, of sale. When searching for Form 144s, keep the following considerations in mind:
The filing of Form 144 is not required in any case where the amount of stock to be sold during any three (3) month period does not exceed 500 shares and the aggregate sale value does not exceed $10,000.
If the seller does not sell all the stock covered by the form within 90 days after the filing, the filing process must be repeated before the commencement of further sales, except in cases where the passage of time has extended the seller's holding period.
-----------------------
Form 4: Statement of Changes in Beneficial Ownership
The Form 4 is required any time there is an open market purchase, sale, or an exercise of options. It must be filed by the 10th of the month following the transaction and contains the details of all non-exempt transactions which exceed $10,000 during that month. Exempt transactions, such as gifts of stock, may be filed on the Form 4 or on the annual Form 5.
Information included on this filing is the name of the insider, title, type of transaction, date of the transaction, amount of stock acquired or disposed, price, holdings after the transaction, and the nature of
ownership.
On the Form 4 or Form 5 an insider indicates when he has retired or exited from the company by checking the ''exit'' box on the filing. Once an insider retires/exits, he is required to report his transactions for only the next six (6) months.
-----------------------
Form 5: Annual Statement of Changes in Beneficial Ownership
This form is required to be filed annually for those insiders who have had exempt transactions and had not reported them previously on a Form 4. It must be filed within 45 days after the close of the issuer's fiscal year to disclose transactions exempt from prior reporting, as well as transactions that should have been reported previously, but were not. A Form 5 is not necessary if there have not been any
transactions to report.
Insiders may also note on Form 5 if they have retired or exited from the company by simply checking the ''exit'' box on the filing. Once an insider retires/exits, he is required to report his transactions for only the next six (6) months.
-----------------------
Source: Edger Online Form Types
edgar-online.com
10-K
An annual report which provides a comprehensive overview of the company for the past year. The filing is due 90 days after the close of the company's fiscal year, and contains such information as company history, organization, nature of business, equity, holdings, earnings per share, subsidiaries, and other pertinent financial information.
10KSB
An annual report which provides a comprehensive overview of the company for the past year. The filing is due 90 days after the close of the company's fiscal year, and contains such information as company history, organization, nature of business, equity, holdings, earnings per share, subsidiaries, and other pertinent financial information. The 10KSB is filed by small businesses.
10-Q
A quarterly report which provides a continuing view of a company's financial position during the year. The filing is due 45 days after each of the first three fiscal quarters. No filing is due for the fourth quarter. |
