Mail ? Is there a limit to the number of shares a BOD or insider can sell in a week or month?
1% of OS# over a 3 month period. 1% of the OS# of ACT is approx. 15MM shares which translates into about 5MM shares per month limit.
"Trading Volume Formula. If you are an affiliate, the number of equity securities you may sell during any three-month period cannot exceed the greater of 1% of the outstanding shares of the same class being sold,"
"Control securities are those held by an affiliate of the issuing company. An affiliate is a person, such as a director or large shareholder, in a relationship of control with the issuer. Control means the power to direct the management and policies of the company in question, whether through the ownership of voting securities, by contract, or otherwise." http://www.sec.gov/investor/pubs/rule144.htm
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.