Form 144 Sample Clauses
The Form 144 clause outlines the requirements and procedures for a security holder to notify the Securities and Exchange Commission (SEC) of their intent to sell restricted or control securities in reliance on Rule 144. Typically, this clause specifies when and how the form must be filed, the information that must be disclosed, and the thresholds that trigger the filing obligation, such as the amount of securities to be sold within a certain period. Its core practical function is to ensure regulatory compliance and transparency in the resale of restricted or control securities, thereby preventing unregistered distributions and protecting market integrity.
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Form 144. Broker will be responsible for completing and filing on behalf of Seller each required Form 144. Seller hereby grants Broker a power of attorney to complete and file on behalf of Seller Forms 144. Seller understands and agrees that Broker will make one Form 144 filing at the beginning of each three-month period commencing on the Effective Date. Each Form 144 filed by Broker on behalf of Seller shall (a) state that the sales are being effected in accordance with an existing Sales Plan intended to comply with Rule 10b5-1, (b) indicate the date the Sales Plan was adopted, and (c) state that the representations are made as of such date.
Form 144. If any Holder is required to file a Form 144 with respect to any sale of shares of Registrable or Restricted Securities, such Holder shall promptly deliver to the Company a copy of such completed Form 144 filed with the SEC.