DryShips Inc (fka DRYS)

[Burnt before]

He has to, or he will 100% loose law suits

Read the bold again exempt means

adjective
1.
free from an obligation or liability imposed on others.
"these patients are exempt from all charges"
synonyms: free from, not liable to, not subject to, exempted from, excepted from, excused of/from, absolved of
"they are exempt from all charges"
verb
1.
free (a person or organization) from an obligation or liability imposed on others.
"they were exempted from paying the tax"
synonyms: free from, not liable to, not subject to, exempted from, excepted from, excused of/from, absolved of More

he can choose to but he most certainly does not have too


We are a "foreign private issuer," as such term is defined in Rule 405 under the Securities Act. As a "foreign private issuer" the rules governing the information that we disclose differ from those governing U.S. corporations pursuant to the Exchange Act. We are not required to file quarterly reports on Form 10-Q or provide current reports on Form 8-K disclosing significant events within four days of their occurrence. In addition, our officers and directors are exempt from the reporting and "short-swing" profit recovery provisions of Section 16 of the Exchange Act and related rules with respect to their purchase and sales of our securities. Our exemption from the rules of Section 16 of the Exchange Act regarding sales of shares of our common stock by insiders means that you will have less data in this regard than shareholders of U.S. companies that are subject to the Exchange Act