Most shares issued for services would be 144 and would be restricted. Yes, it would be a hard cert issued by the ta. The cert could be deposited with a broker.
My understanding is that the company will list in disclosure statements only the 5% owners that are issued hard certs, as that ownership would be immediately known to the company.
However, and this may or may not answer your question, if a purchaser was to buy shares electronically, and accumulated a position such that it passes the 5% threshold, it's up to the shareholder to report it (via 13g or 13d), not the company.
My understanding is shares-for-services are subject to Rule 144.
