Good post. But it is almost certain the shares will be restricted, even if for 90+ days.
They have to be or there would be dumping of some of the shares and it would be very unwise to NOT put some sort of restriction on them. Even if 90 days. Look at shares given to company employees/founders during an IPO, they are restricted to prevent dumping and tanking of the share price.
I wouldn't think of buying if there is no restriction. I'll consider buying with a restriction. This way we can see how the share price develops and after a cooling off period, not as many people would sell right after a restricted period vs. no restriction.
There will still be sellers, but not as many as a no restriction scenario.
Stock manipulation according to the SEC. "Making false or misleading statements about a company."