Who is a Section 16 insider?
Section 16 imposes filing standards for “insiders.” Insiders are any officers, directors, or stockholders who possess stock that directly or indirectly results in beneficial ownership of more than 10% of the company’s common stock or other class of equity.
What is Section 16b of the Securities Act of 1934 about?
If an officer, a director or a large (10% or more) shareholder of a public corporation realizes a profit from buying and selling stock within a six-month period, Section 16(b) of the Securities Exchange Act of 1934 (the “Act”) authorizes the corporation to recover from such statutory insider any so-called “short swing” …
Who are the Section 16 officers?
Section 16 Officer means a president, vice president, secretary, treasurer or principal financial officer, comptroller or principal accounting officer, and any person routinely performing corresponding functions with respect to the Company.
How are Section 16 officers determined?
Who should determine Section 16 officer status? Decisions regarding who is a Section 16 officer are generally made each year by the company’s Board of Directors, usually with input from management and company counsel.
What triggers a Form 4 filing?
In most cases, when an insider executes a transaction, he or she must file a Form 4. Form 4 must be filed within two business days following the transaction date. Transactions in a company’s common stock as well as derivative securities, such as options, warrants, and convertible securities, are reported on the form.
What does Code M mean on Form 4?
conversion of derivative security
M – Exercise or conversion of derivative security exempted pursuant to Rule 16b-3. Derivative Securities Codes (Except for transactions exempted pursuant to Rule 16b-3) C – Conversion of derivative security. E – Expiration of short derivative position.
Where is section 16?
Palmer Trail (Section 16) is a 5.7 mile heavily trafficked loop trail located near Colorado Springs, Colorado that features beautiful wild flowers and is rated as moderate. The trail offers a number of activity options and is best used from March until November.
How much of a public company can you own?
Section 13(d) of the 1934 Act and Regulation 13D thereunder require beneficial owners of more than 5% of a class of equity securities of a publicly traded company to file a report with the SEC.
Who must file a Form 4?
Form 4 is required to be filed by a company or the individual at the company when there is a change in the holdings of company insiders. Form 4 must be filed with the SEC within two days of the transaction.
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