The proposed amendments would
amend Rule 144(d)(3)(ii) to revise the holding period determination
for securities acquired upon the conversion or exchange of certain
market-adjustable securities of an issuer that does not have a
class of securities listed, or approved to be listed, on a national
securities exchange registered pursuant to Section 6 of the
Exchange Act. As a result, the holding period for the underlying
securities would not begin until conversion or exchange. The
proposed amendments would also mandate the electronic filing of all
Form 144 notices related to the resale of securities of issuers
that are subject to the reporting requirements of Section 13 or
15(d) of the Exchange Act, and eliminating the filing requirement
for Form 144 notices related to the resale of securities of issuers
that are not subject to Exchange Act reporting. Additionally, the
proposed amendments would eliminate two unnecessary data fields,
and the Commission intend to create an online fillable document for
entering the information required by Form 144. The amendments would
also change the filing deadline for Form 144 to coincide with the
filing deadline for Form 4. Finally, the proposed amendments would
amend Forms 4 and 5 to add a check box to permit filers to indicate
that a sale or purchase reported on the form was made pursuant to a
transaction that satisfied Rule 10b5-1(c). For Form ID, the
Commission estimates that proposed amendments would result in an
increase of 1,378 internal burden hours and no change in outside
professional costs.
$103,479,690
No
Yes
No
No
No
No
No
John Fieldsend 202
551-3343
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.