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← Series 79: Underwriting & New Financing
Series 79 practice questionmediumRule 144

When must Form 144 be filed with the SEC?

  1. AWithin 30 days after the sale of restricted or control securities
  2. BOnly when selling restricted securities, never for control securities
  3. CAt least 10 days before the intended sale
  4. DWith the sell order if sales exceed 5,000 shares or $50,000✓ Correct answer
Explanation

Why D — With the sell order if sales exceed 5,000 shares or $50,000

Form 144 must be filed with the SEC concurrently with the placement of a sell order when the proposed sale exceeds 5,000 shares or $50,000 in aggregate sales price during any three-month period. The form notifies the SEC and the market of the intended sale and includes information about the seller, the relationship to the issuer, the securities to be sold, and the manner of sale. If the securities are not sold within the three-month period after filing, an amended Form 144 must be filed.

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