I keep hearing this BS about insider selling. There has been NO insider selling!
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.
Not all Form 144 filers are insiders. Any entity owning restricted stock must file a Form
144 prior to selling the restricted
stock. Any insider who files a Form 144, must file a Form 4 if and when the sale is
completed. To determine if a given filer is
an insider, you may click on the insider name. If the individual is listed as a shareholder,
they are not an insider.
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. Insiders are
governed by SEC regulations when they
file a Form 144. The following considerations should be kept in mind when you are
searching Form 144s. These
considerations apply to insiders only - see the above definition (not shareholders or
restricted stock owners ):
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.
So as you can see thee were NO sells!
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