Savvy Trades and Investments

[jtomm]

Form 4 transaction codes. For future reference, posting this because I wasn't aware of all the secret codes, and maybe other posters aren't aware either. Nor do I think one should have to know secret codes; a company should give full explanatory disclosure on the Form 4 imo so that you don't have to go searching to know the secrets.

Anyway, talked to a securities attorney friend of mine and his opinion was that BUKS Form 4 filings were technically legal, but he would certainly have footnoted the details. The section that makes it legal is in field "3. Transaction Code (Instr. 8)" it has an A. You can't click on the A, nor does the Form 4 explain the A:

https://www.sec.gov/Archives/edgar/data/15847/000143774923027952/xslF345X05/rdgdoc.xml

But if you search the internet for Form 4 transaction codes, I guess these are the secret codes we're all supposed to know coming out of the womb:

https://www.sec.gov/files/forms-3-4-5.pdf

And at that link it says transaction code A means "Grant, award, or other acquisition of securities from the company (such as an option)"

However, that obviously still doesn't give you the details (was it stock, restricted stock, options or warrants at what strike price, when do they vest, etc.) I can't remember seeing a Form 4 that didn't footnote securities acquired from the company. I'm sure they probably exist, but this is new to me.

So anyway, final post on the Form 4 stuff in case anybody else was in the dark like me.