Tag Archives: affiliate

Current Public Information Requirement Under Rule 144 for Multiple Sales

Sometimes Shareholders, such as Affiliates, will sell stock over time and the question arises whether or not one Rule 144 legal opinion will suffice.   This depends upon how long ago the 144 opinion letter was drafted.  The reason updated legal … Continue reading

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Affiliates Can Sell Stock After 90 Days under Rule 144

When Can Affiliates Sell 144 Stock Without Volume Restrictions? Under SEC Rule 144, a former officer, director, or control person of an OTC public company can sell his or her shares without the trading volume restriction if greater than 90 … Continue reading

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Beneficial Ownership for Affiliates Under SEC Rule 144

Beneficial Ownership Under Rule 144 Depends on Control Affiliates in OTC Bulletin Board and OTC Markets public companies are generally the officers, directors, and owners of greater than 10% of an Issuer’s outstanding stock in a given class.   The question … Continue reading

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When Does SEC Rule 144 Apply?

When does Rule 144 apply? Rule 144 applies under two circumstances: When anyone wants to sell restricted stock into the public securities markets using a brokerage firm; and When an Affiliate, or control person of an issuing company wants to … Continue reading

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What is a “Control Person” or “Affiliate” Under Rule 144?

Definition of a Control Person or Affiliate under SEC Rule 144 A control person is someone who directly or indirectly controls the management and affairs of an issuing company.  Control Persons are most often referred to as Affiliates. An Affiliate … 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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