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(Draft No. 5.4 S.225) 2/26/2016 BMG 11:28 AM1Page 1 of 27TO THE HONORABLE SENATE:2The Committee on Transportation to which was referred Senate Bill No.3225 entitled An act relating to miscellaneous
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4 s refer to the Form 4: Statement of Changes in Beneficial Ownership of Securities, which is a filing required by the Securities and Exchange Commission (SEC) for insiders to report their transactions in company stock.
Insiders such as directors, officers, and beneficial owners of more than 10% of a company's stock are required to file Form 4.
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The purpose of Form 4 is to increase transparency and accountability in the financial markets by disclosing insider transactions in a timely manner.
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