It could be governed by the less than 1% of O/S rule. But I don't think he would have to comply with average daily volume. Isn't that just for an affiliate of the company? I don't think he qualifies as an affiliate.
If it is Shahean, I believe it involves some sort of deal. I think IDLM was dead set against taking the restriction off any of his shares. He could have forced them to in state court. Is there any on-line evidence of a court action?
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