“The key point in the requirement is "change in holdings".
If new shares are issued no Form 4 is required and it will be disclosed in the subsequent filing.
The shares given out are "new shares" so there isn't any change in ownership/control.”
Ownership/control of the company has nothing to do with a Form 4. It is the INDIVIDUAL’S stock ownership changing.
If the company issues stock to an affiliate/insider then it requires a Form 4 because the person receiving the stock has “changed” the amount of stock they own.
That’s the only criteria.
As for your example, there are “ownership” filings on Edgar. The only one that is missing is the preferred stock grant to the CEO made in March....but also disclosed in March in the 10-K. Whether it was within 2 days...who knows...but their should have been a Form 4 filed as well. Doesn’t mean Solei is covered because someone else did it once...lol.
It’s really quite simple. If you are an Officer, Director or Affiliate of an SEC reporting company and the amount of stock you OWN in that company changes...a Form 4 MUST be filed within two business days of the date of the change.
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