At the end of 2020, the Securities and Exchange Commission (SEC) proposed amendments to Rule 144 of the Securities Act of 1933 (Securities Act) to revise the holding period for securities acquired upon conversion or exchange of certain “market-adjustable” securities that are subsequently sold in reliance on Rule 144. In addition, the SEC proposed related changes to improve investor access to Form 144 filings and to streamline the filing process, which include (i) mandating that all Form 144s be filed electronically; (ii) revising Form 4 and Form 5 to permit filers to satisfy their Section 16 and Form 144 filing obligations on a single form; and (iii) extending the Form 144 filing deadline to coincide with the Form 4 filing deadline. Continue reading >