I understand that it represents intention to sell. But what I don't is the transaction date of such agreement. Example: Form 144: Filing to Sell 100,000 Shares of xxx Document Processing Date: May 08, 2002 <--------------- Filer: xxx Relation: Stock Name: xxx Stock Symbol: xxx Exchange: NASDAQ Transaction date: May 06, 2002 <-------------------- ???? Shares for sale: 100,000 Value held: 10,000,000 Does this mean the shares were already sold on May 06? My understanding was that shares couldn't be sold until after the filing (processing) date. Please pardon my ignorance.
One last try. I know SOMEBODY out there has the answer. My persistence may be irritating, but it's all I have.
Maybe your confusing Form 4 with Form 144???? The Form 144 is filed with the Securities and Exchange Commission to reflect the intention of any holder of restricted stock to sell those shares. After the 144 is mailed to the S.E.C., the filer is permitted to sell the shares, or any fraction of them, within 90 days. The Form 4 is filed with the Securities and Exchange Commission by any insider buying or selling their company's shares. This form must be filed by the 10th of the month following the month in which the transaction was executed.
Nordic-- Thanks for responding. As it shows in my first post, it is a 144, my question is in the transaction date. We have a processing date of May 08 and a transaction date of May 06, the word transaction leading me to believe that shares were sold. Therein lies question. Just a simple play of words which are confusing the heck out of me.