Rule 144 compliance is required whenever an officer or director wants to sell shares. Unless the share amount is small, in the range of 5,000 shares, the holders have to indicate the number of shares they want to sell. They are also limited to selling no more than 1% of the outstanding shares in a quarter, and if they do not sell the amount declared, then they must inform the SEC in writing that the total was not sold. If the holder wants to sell again they must again file the form showing they are in SEC compliance and repeat the process.
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