Which of the following best describes a transaction that would NOT qualify for the isolated non-issuer transaction exemption under the USA?

1. AA private individual sells shares of stock to five different buyers in unrelated sales over two months✓ Correct answer
2. BA one-time sale between two friends of privately held shares
3. CA decedent’s estate sells stock to a single buyer
4. DA private individual sells stock to a relative in a single transaction

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