Who needs a form 144?
Form 144 is meant for the affiliates of the issuers who want to sell restricted or controlled securities under the Rule 144.
What is form 144 for?
Rule 144 is an exemption to the U.S. Securities Act of 1933. It allows resale of the securities if three conditions are met. The sale of securities depends on how long they were held, the amount that can be sold at once, and on the way which they are sold. If the proposed amount of securities is more than 5000 shares during any three months or its price exceeds $50,000, this form must be completed.
Is it accompanied by other forms?
The affiliate has to contact the issuer to get the I.R.S. Identification Number and the S.E.C. File Number and attach those references to the completed form.
When is form 144 due?
There is no due date for this document.
How do I fill out form 144?
Be sure to complete three copies of the form. First, put down the name and address of the issuer, than give the name and address of the person for whose account the securities are to be sold. Establish what kind of relationship he maintains with the issuer. Fill in the table about securities being sold noting the title of the class, names and addresses of the brokers involved in the offer, number of shares or other units, aggregate market value, approximate date of sale, name of each securities exchange. Fill in another table about securities sold during the past three months.
Where do I send form 144?
Send the notice electronically via EDGAR database at the official website of the U.S. Securities and Exchange Commission. You can also send it by mail.