Dodd-Frank.com

SEC Provides Limited Relief for Paper Filings of Form 144

By | April 12, 2020

The SEC staff provided limited relief for those who wish to file Form 144 in paper as a result of the COVID-19 pandemic.  A Form 144 must be filed with the SEC upon the sale of restricted securities when specified in Rule 144.  The relief is temporary and covers those who submit a Form 144 for the period from and including April 10, 2020 to June 30, 2020.

Division of Corporation Finance staff will not recommend enforcement action to the Commission if Forms 144 filed in paper under Rules 101(b)(4) or 101(c)(6) of Regulation S-T are submitted via email in lieu of mailing or delivering the paper form to the SEC if the filer or submitter attaches a complete Form 144 as a PDF attachment to an email sent to PaperForms144@SEC.gov.

If the filer or submitter is unable to provide a manual signature on the Form 144 submitted by email, the staff will not recommend enforcement action to the Commission if the filer or submitter provides a typed form of signature in lieu of the manual signature and:

  • the signatory retains a manually signed signature page or other document authenticating, acknowledging, or otherwise adopting his or her signature that appears in typed form within the electronic submission and provides such document, as promptly as practicable, upon request by Commission staff;
  • such document indicates the date and time when the signature was executed; and
  • the filer or submitter (with the exception of natural persons) establishes and maintains policies and procedures governing this process.

Contact Steve Quinlivan for more information.