Series 7 practice questionhardEquity Securities — Rule 144 — Form 144 Filing
An affiliate selling restricted stock under Rule 144 must file Form 144 with the SEC if the sale exceeds which threshold?
- A1,000 shares or $10,000 in aggregate value
- B500 shares or $1,000 in aggregate value
- C5,000 shares or $50,000 in aggregate value✓ Correct answer
- D10,000 shares or $100,000 in aggregate value
Explanation
Why C — 5,000 shares or $50,000 in aggregate value
Under Rule 144, Form 144 must be filed with the SEC concurrently with the placing of a sell order if the number of shares to be sold exceeds 5,000 shares or the aggregate dollar amount exceeds $50,000 during any three-month period. The form provides notice of the intended sale and must be filed at the time the order is placed with the broker.
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