Rule 144 - Restricted shares.
I read that issuing restricted shares pursuant to rule 144 means following:
Owner of restricted is permitted the resale of limited amounts of restricted securities after a one-year holding period, and unlimited resale of restricted securities after a holding period of two years.
Here is the link to current rule:
sec.gov
and first part of the content:
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SECURITIES AND EXCHANGE COMMISSION
17 CFR Part 230
[Release No. 33-7390; File No. S7-17-95]
RIN 3235-AG53
Revision of Holding Period Requirements in Rules 144 and 145
AGENCY: Securities and Exchange Commission.
ACTION: Final Rules.
SUMMARY: The Commission is amending the holding period
requirements contained in Rule 144 to permit the resale of
limited amounts of restricted securities by any person after a
one-year, rather than a two-year, holding period. Also, the
amendments permit unlimited resales of restricted securities held
by non-affiliates of the issuer after a holding period of two
years, rather than three years. These changes should reduce the
cost of capital, particularly for small business issuers.
Parallel changes to Rule 145 also are being adopted.
EFFECTIVE DATE: The changes to 230.144 and 230.145 will be
effective [insert date 60 days after publication in the Federal
Register].
FOR FURTHER INFORMATION CONTACT: Elizabeth M. Murphy, Office of
Chief Counsel, Division of Corporation Finance at (202) 942-2900,
450 Fifth Street, N.W., Washington, D.C. 20549.
SUPPLEMENTARY INFORMATION: On June 27, 1995, the Commission
published for comment a release proposing amendments to Rule 144, - |
