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AGENDA ITEM 8Delegation of Services Agreements Change in Regulations Recently, Title 16, Division 13.8, Article 4, section 1399.540 has been amended to include several requirements for the delegation
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Section 16 requires them to publicly disclose their transactions involving company securities and any changes in their ownership.
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Section 16 of the Securities Exchange Act of 1934 requires company insiders, such as directors, officers, and shareholders with more than 10% ownership, to report their transactions in company stock.
Company insiders, including directors, officers, and shareholders with more than 10% ownership, are required to file Section 16 reports.
Section 16 reports can be filed electronically through the SEC's EDGAR system by providing details of the insider's transactions in company stock.
The purpose of Section 16 is to promote transparency and protect investors by requiring insiders to disclose their transactions in company stock.
Section 16 reports must include details of the insider's transactions, such as the date, type of transaction, and number of shares involved.
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