Rule 144

Definition:

A Safe Harbor under the Securities Act that places limits on the ability of persons who hold Restricted Securities, or who are Affiliates, from selling an issuer’s securities.

Generally, in order to utilize Rule 144, the person seeking to sell the Restricted Securities must meet the holding period established by Rule 144(d). The holding period is six months for Restricted Securities of Exchange Act reporting issuers and one-year for Restricted Securities of non-reporting issuers.

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