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Comment Period: Amend Rule 144 Holding Period and Form Filings

SEC issued a proposed rule to amend Rule 144 to revise the holding period determination for securities acquired upon the conversion or exchange of certain market-adjustable securities of issuers that do not have securities listed on a national securities exchange. Under the proposed amendments, the holding period for the securities would not begin until the securities are acquired upon the conversion or exchange of the market-adjustable security. SEC has also proposed to: mandate electronic filing of Form 144 with respect to securities issued by issuers subject to Exchange Act reporting requirements; amend the filing deadline for Form 144 to coincide with the filing deadline for Form 4; and streamline the filing process in cases where both Form 4 and Form 144 are required to report the same transaction. Finally, SEC proposed to eliminate the requirement to file a Form 144 for resales of securities of issuers that are not subject to Exchange Act reporting. Read more here.

  • March 22, 2021
  • Time: All Day