Rule 102, 17 CFR 242.102 (Activities by Issuers or Selling Securityholders During a Distribution)

Rules 101 and 102 of Regulation M regulate bids for and purchases of offered securities and certain other covered securities. While Rule 101 covers underwriters, broker-dealers, selling group members, and their affiliated purchasers, Rule 102 covers issuers, selling security holders, and their affiliated purchasers. Rules 101 and 102 apply only during a “restricted period” that commences either one or five business days (depending on the average daily trading volume of the offered security) prior to the determination of the offering price and continues until such person’s completion of participation in the distribution. Rule 102 includes a limited exception for certain actively-traded reference securities.

The latest form for Rule 102, 17 CFR 242.102 (Activities by Issuers or Selling Securityholders During a Distribution) expires 2029-08-31 and is listed under ICR 202603-3235-018.