NO. They are supposed to file Forms 3, 4 and 5, but chuck that out the window for non reporting Pinks and Greys, especially if they aren't registered with the SEC. Very few ever file any of the Forms.
Unless the stock is restricted, they are supposed to file Form 4 within 48 hours of any change in ownership.
The initial filing is on Form 3 and changes are reported on Form 4. The Annual Statement of beneficial ownership of securities is on Form 5.
If it's 144 restricted stock, then they must hold the stock a minimum of 12 months before they can file Form 144 intention to sell, and each of these is good for 90 days. There's more to it than that, legal opinion, restrictions on amount that can be sold etc.
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