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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: Sword who wrote (15351)2/28/1999 1:18:00 AM
From: mchip  Read Replies (2) of 122087
 
I've been asking some friends about 144's. A few have even recently filed 144's to sell (it is tax time, and companies are coming out of blackout after earnings)
This is how the sellers viewed the process:
Seller notifies their company and their broker they want to sell
Seller fills out a 144 and sends to broker
Once the broker has the signed 144 they can make the trade.
End of seller's involvement.

So... the question is when do WE get to see this information?

I checked a recent trade; www.insidertrader.com has the filing dated 2/19/1999.
The seller told me that the trade happened on or around 2/8/1999.

I know 144's can be filed electronically but I don't think it is a requirement. In this case the broker handled sending the 144 to the sec, and I assume they also handle the form 4. If the rule is that the selling broker just needs an original signed 144 to make the trade, then it seems the sale could be done long before anyone sees the information.

Anyone have more information?
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