Tag Archives: 144letters.net

When are Rule 144 Opinions Not Issued?

We do not issue Rule 144 legal opinion letters for every Shareholder who contacts us.  Why?   Sometimes this is due to the Issuer’s current shell status, or the fact that the Shares are simply not old enough.  These are easily … Continue reading

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Must I Intend to Actually Sell My Restricted Stock Under Rule 144 to Get An Opinion Letter?

Only Affiliates of the Issuer Must Intend to Actually Sell Their 144 stock This is another area within SEC Rule 144 where Affiliates and Non-Affiliates of an Issuing Company are treated differently.  While a Non-Affiliate is not required to have … Continue reading

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Since Rule 144 Doesn’t Apply to Private Sales Why Do I Need a 144 Opinion Letter?

Even if your restricted 144 stock was acquired by gift or from a private sale transaction, the issuer’s  Transfer Agent (and the issuing company itself) will nevertheless still require a 144 opinion letter because the letter is not designed to … Continue reading

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Can I Requalify Under Rule 144?

We Will Tell You What You Need To Qualify Under Rule 144 Time Requirements Under Rule 144 Most disqualifications are due to timing–the Shareholder has not owned the stock for long enough, and can’t “tack onto” the previous holder’s ownership.  … Continue reading

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Does Rule 144 Require Me to Sell My Stock to Remove the Restrictive Legend?

Yes, Rule 144 requires you to sell your stock to remove the restrictive legend.  Rule 144 cannot be used to remove the restriction on securities you do not intend to sell.  (The one exception to this is that securities that … Continue reading

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What is “restricted stock”?

What is “restricted stock”? “Restricted stock” can be classified in two different ways: It is stock that a Shareholder or a prior owner purchased directly from the issuing company without registration under the Securities Act of 1933; or Stock that … Continue reading

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