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This is a confidential report. It is completed to allow the Township to obtain advice from legal counsel and for the protection of the Township and its employees from potential liability. Full Name:
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Rule 16 confidentiality pertains to the requirement for corporate insiders to maintain the confidentiality of material nonpublic information, ensuring that such information is not disclosed inappropriately which could affect market transactions.
Individuals classified as corporate insiders, which includes officers, directors, and significant shareholders, are required to adhere to the Rule 16 confidentiality.
To fill out rule 16 confidentiality reports, insiders must disclose their holdings, any changes to these holdings, and the nature of the insider transaction in the appropriate legal forms as required by the governing body.
The purpose of Rule 16 confidentiality is to protect investors by promoting transparency in trading and to prevent insider trading by ensuring that corporate insiders do not exploit material nonpublic information.
Insiders must report information such as the number of shares bought or sold, the date of the transaction, the type of security, the price per share, and any other relevant details pertaining to the transaction.
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