Section 16 Filings

Since june 30 2003 the sec has required insiders to submit forms 3 4 5 electronically through the sec s edgar system.

Section 16 filings. Downloadable forms 3 4 and 5 form 144. We have updated the previously posted version of frequently asked questions faqs about electronic filing of forms 3 4 and 5. What happens if a section 16 report is filed late.

Key takeaways section 16 is a rule within the securities exchange act of 1934 sea that articulates the regulatory filing. The officer s purchase would be subject to section 16 and the officer would be required to file a form 3 within 10 days of the reincorporation and a form 4 reporting both the purchase and sale of the common shares following the sale of those shares. Also use the search feature to access answers to practical day to day questions.

Section 16 imposes filing standards for insiders and defines insiders as any officers directors or stockholders who. New model forms are added on an ongoing basis. Section 16 a of the exchange act requires that directors and officers of a company that has a class of securities registered under section 12 of the exchange act a public company as well as persons who beneficially own more than 10 of any class of equity security other than an exempted security which is registered under section 12 of the exchange act file reports with the sec on forms 3 4 and 5.

The company must disclose in its 10 k or annual proxy the names of insiders who failed to timely file any section 16 reports and the number of reports and transactions that were not timely filed. The release 8 6 upgrade to the edgar system effective july 28 2003 improves the functionality of the online filing system for section 16 reports on forms 3 4 and 5 including amendments to these forms. All of fannie mae s filings are available on the sec s website located under federal national mortgage association section 16 filings by fannie mae s directors and certain executives are also available on the sec s website.

The sec also requires companies that maintain websites to now post the forms by the end of the next business day after filing them with the sec. E mail alerts do not include 15ga 1 filings. Electronic filing of all section 16 reports became mandatory on june 30 2003 see release no.

Section 16 filings section 16 filings as required under section 16 a of the securities exchange act of 1934 form 4 filings are made for the directors and executive officers of the charles schwab corporation when transactions resulting in a change of beneficial ownership of any class of the company s equity securities occur. Section 16 reporting requirements apply only to companies that have registered a class of securities under section 12 b or section 12 g. Previous faq 1 has been eliminated as moot.