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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. DConcurrently with the placement of the sell order if the amount to be sold exceeds 5,000 shares or $50,000 in any three-month period✓ Correct answer
Explanation

Why D — Concurrently with the placement of the sell order if the amount to be sold exceeds 5,000 shares or $50,000 in any three-month period

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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