What is Rule 16A?
16A. Disclosures in the financial statement.- (1) Every company, other than a private company, shall disclose in its financial statement, by way of notes, about the money received from the director.
What is a Section 16 employee?
Section 16 imposes filing standards for “insiders,” and defines insiders as any officers, directors, or stockholders who possess stock that directly or indirectly results in beneficial ownership of more than 10% of the company’s common stock or other class of equity.
Who is subject to Section 16 of the Exchange Act?
Section 16(a) of the Exchange Act requires that directors and officers of a company that has a class of securities registered under Section 12 of the Exchange Act (a “public company”), as well as persons who beneficially own more than 10% of any class of equity security (other than an exempted security) which is …