Ellen,
Catching up on the thread & saw you post the same misinformation twice, maybe if I highlight the or's in the paragraph it will become clear to you.
Securities Exchange Act of 1934
Section 16 -- Directors, Officers, and Principal Stockholders
a.Every person who is directly or indirectly the beneficial owner of more than 10 per centum of any class of any equity security (other than an exempted security) which is registered pursuant to Section 12 of this title, or who is a director or an officer of the issuer of such security, shall file, at the time of the registration of such security on a national securities exchange or by the effective date of a registration statement filed pursuant to Section 12(g) of this title, or within ten days after he becomes such beneficial owner, director, or officer, a statement with the Commission (and, if such security is registered on a national securities exchange, also with the exchange) of the amount of all equity securities of such issuer of which he is the beneficial owner, and within ten days after the close of each calendar month thereafter, if there has been a change in such ownership during such month, shall file with the Commission (and if such security is registered on a national securities exchange, shall also file with the exchange), a statement indicating his ownership at the close of the calendar month and such changes in his ownership as have occurred during such calendar month.
"Don't they have to own a certain amount before that's required?"
Not directors or officers
Hope this helps you out, the word or has meaning.
JC |
