Moras, forgive me for displaying my ignorance on this subject, but you seem to know all about this. So this is the process for all restricted shares? I know restricted shares are restricted for a period of time, usually 1 year, correct?, so once the time period has ended, the holder of the shares can not just trade the shares? they must request the legends be removed as you described?
Now, I don't mean to sound argumentative, but I can see if a person has restricted shares and they are eligible to have the legends removed, I can understand how they would want the legends removed so that the shares would be able to be sold whenever the holder wants too. I would think that in the case where the holder believes the stock is about to rise sharply in the very near future, that they would want the freedom of being able to sell the shares. Would it not make sense for them to sell when they would get a better price? I guess what I am trying to say is that shares becoming unrestricted does not necessarily equate to immediate dumping of the shares at an unfavorable price.
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