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`SECFilings: Forms You Need To Know
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`SEC Filings: Forms You Need To Know
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`By ADAM HAYES Updated Jan 18, 2021
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`The Securities and Exchange Commission (SEC) requires public companies, certain
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`disclosures. Finance professionals and investors rely on SEC filings to make informed
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`The SEC wascreated through the Securities Exchange Act of 1934, which wassignedinto
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`confidencefollowing the stock market crash of 1929. The SEC is an independent
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`The SECselectively reviews the information it receives to monitor and enhance
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`compliance. * Investors study thesefilings to form a view of a company's performance and
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`activities. Here are some of the most commonforms that companies are required to submit
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`Apotex Exhibit 1050
`Page 3 of 10
`
`

`

`1/20/2021
`SEC Filings: Forms You Need To Know
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`ÿ
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`Chairman or CEO, and a summary overviewof the financials. The 10-K is a longer, more
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`sheet, income statement, and statement of cash flows. For stocks, fundamental analysis
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`proceedings or statements indicating future chargesorvolatility.
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`accounting statements, looming legal cases in which the companyis involved, and details of
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`to investors with an interest in the company's operations.
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`Asan investor, pay special attention to any footnotes in Form 10-K, as they can
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`Form 10-Q
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`40 daysfrom the end of the quarter. Unlike Form 10-K, the financial statements in Form 10-Q
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`Why Form 10-Q Is Important to Investors
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`https://www.investopedia.com/articles/fundamental-analysis/08/sec-forms.asp
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`Apotex Exhibit 1050
`Apotex Exhibit 1050
`Page 4 of 10
`Page 4 of 10
`
`

`

`1/20/2021
`SEC Filings: Forms You Need To Know
`   
`ÿ
`
ÿ ÿÿÿÿ 
`how it's performing on a relative basis. This will give you a broader idea of whether your
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`Form 8-K
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`filings of the Form 10-K or Form 10-Q. Major company events that would necessitate the
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`Why Form 8-K Is Important to Investors
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`Form 8-K providesinvestors with timely notification of significant changes at a company.
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`#ÿ  ÿÿ!  ÿ  ÿÿ'ÿ !!  
`#ÿ #ÿ!ÿ 
`shareholders (such as a new productrelease or upgrade). Either way, the 8-K provides a
` 
` ÿ1  ÿ ÿÿ ÿ ÿ
` ÿÿ
2ÿ ÿ#(ÿÿ$"ÿ  ÿ
`wayfor firms to communicate directly with investors in a waythatis notfiltered or altered by
`#ÿ!ÿ!  ÿÿ  ÿ  
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`media organizations or sell-side analysts.
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`Form 8-K also provides a valuable record for financial research and analysis. For example,
`ÿ$"ÿ
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`an analyst may wonder whatinfluence certain corporate events have on stockprices. It is
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`possible to estimate the impact of these events using statistical techniqueslike regressions,
` '
`ÿÿ  ÿÿ  ÿ!ÿ ÿ  ÿ
ÿ   
`ÿ  - ÿ
` )ÿ
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`but researchers needreliable data. Because 8-K disclosures are legally standardized and
`'ÿ   ÿ ÿ
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`ÿÿ4  ÿ$"ÿ
`  ÿÿ
`

`
`#ÿ   3ÿ 
`must be honest and accurate, they provide a complete record and prevent sample selection
` ÿ'ÿ  ÿ ÿ (ÿ#ÿ ÿÿ 
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`bias.
`'  
`
`Proxy Statement
`5.#ÿ 
`In the proxy statement, investors can view the salaries of the management of a company and
`0 ÿÿ.#ÿ  (ÿ   ÿ  ÿ ÿÿ 
`  ÿ!ÿÿ 
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`any other perks that a company's managementis eligible for. The proxy statementis
` #ÿÿ) ÿÿÿ  #& ÿ 
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'
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`presented prior to the shareholder meeting and must befiled with the SEC beforesoliciting a
`
`  ÿ ÿÿÿ 
`ÿ
ÿ ÿ ÿ'ÿ!
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ÿ
`shareholdervote on the election of directors and approvalof other corporate actions. ®
` 
`ÿÿ ÿÿ
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`ÿ!ÿÿ ÿ   6ÿ
`
`Whya Proxy Statementis Important to Investors
`/#ÿÿ5.#ÿ ÿ ÿ0 ÿÿ0  
`Public companies hold annual meetings where shareholders convene to vote on various
`5'
` ÿ   ÿ
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ÿÿ 
` ÿ   ÿÿÿ ÿ 
`corporate actions or for new membersto the board of directors. Owning commonstockin a
` ÿ   ÿÿ!ÿ ÿ' ÿÿÿ'ÿ!ÿ   ÿ7
ÿ  ÿ  )ÿ ÿ
`companygives you a vote (usually one vote per share), butit is not typically feasible to
`  #ÿ
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`
`#ÿ ÿÿÿ 2(ÿ'ÿ ÿ ÿ ÿ# 
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`attend the annual meeting. The proxy statementallows you to cast your votes using a
`
` ÿÿ 
`ÿ
ÿÿ.#ÿ  ÿ
`
` ÿ#ÿÿ  ÿ#ÿ ÿ
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`designated person, who will aggregate votes and cast them on your behalf. This person is
`
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`
`ÿ

ÿ ÿ ÿ  ÿÿ ÿ#ÿ'
`!ÿ ÿ  ÿ
`knownas a proxy and will cast a proxy vote in line with the shareholder's directions as
`)  ÿ ÿÿ.#ÿ ÿ
`
`ÿ  ÿÿ.#ÿÿ ÿ
` ÿ ÿÿ 
`& ÿ    ÿ
`written on their proxy card. Proxy votes maybe cast by mail, phone, or online before the
`  ÿ ÿ ÿ.#ÿ ÿ5.#ÿ ÿ#ÿ'ÿ  ÿ'#ÿ
`(ÿ (ÿÿ
` ÿ'!ÿ
`cutoff time. This deadline is usually 24 hours before the shareholder meeting commences.
` !!ÿ ÿ ÿ
` ÿ ÿ 
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`#ÿ8ÿ ÿ'!ÿÿ 
`ÿ
ÿ   
`Vote responseswill typically include "For," "Against," "Abstain," or "Not Voted."
`9ÿ   ÿ
`
`ÿ# 
`
`#ÿ
`ÿ:(:ÿ:;
 (:ÿ:;'  (:ÿÿ:ÿ9:
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`The proxy statementwill therefore present the items that will be voted on and allow you to
`ÿ.#ÿ  ÿ
`
`ÿ!ÿ  ÿÿ  ÿÿ
`
`ÿ'ÿÿ ÿ ÿ
`
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`return a form to the companyto inform your proxy how your votes should becast.
` ÿÿ!ÿÿÿ  #ÿÿ !ÿ#ÿ.#ÿÿ#ÿ ÿ 
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`https://www.investopedia.com/articles/fundamental-analysis/08/sec-forms.asp
`       
` !  
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`# $  "!  
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`5/10
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`
`
`
`
`
`Apotex Exhibit 1050
`Apotex Exhibit 1050
`Page 5 of 10
`Page 5 of 10
`
`

`

`SECFilings: Forms You Need To Know
`ÿ
`
ÿ ÿÿÿÿ 
`
`1/20/2021
`   
`Forms 3, 4, and 5
` ÿ&'ÿ('ÿ ÿ)
`Corporate insiders mustfile Forms 3, 4, and 5. The SEC defines a corporate insider as "a
`ÿ  ÿ ÿ!
`ÿ ÿ&'ÿ('ÿ ÿ)ÿÿÿ!  ÿÿ ÿ ÿ ÿ*
`company's officers and directors, and any beneficial owners of more than ten percent of a
`  #+ ÿ!!  ÿ ÿ   'ÿ ÿ #ÿ, ! 
`ÿ  ÿ!ÿÿ ÿ ÿ  ÿ!ÿ
`class of the company's equity securities registered under Section 12 of the Securities
`
`
` ÿ!ÿÿ  #+ ÿ- #ÿ     ÿ
ÿ ÿ   ÿÿ!ÿÿ   
`ExchangeAct of 1934." These forms are meant to reveal more information about the
`. 
ÿ/ ÿ!ÿ0&(*ÿ ÿ! ÿÿ ÿÿ
`ÿÿ !  ÿ,ÿ
`securities that companyinsiders own. "'
`     ÿÿ  #ÿ  ÿ ÿ
`
`e Form3is the initial filing and discloses ownership amounts.
`1234ÿ6ÿ ÿÿ  
`ÿ!
`
ÿ ÿ
`  ÿ   ÿ  
`
`e Form4identifies changes in ownership.
`1234ÿ7ÿ   !  ÿ 
 ÿ ÿ   
`e Form 5 is an annual summary of Form 4 andincludes any information that should have
`1234ÿ8ÿ ÿ ÿ 
`ÿ #ÿ!ÿÿ(ÿ ÿ
` ÿ #ÿ !  ÿÿ 
`ÿ
`been reported. ''
`, ÿÿ
`
`Why Forms 3, 4, and 5 Are Important to Investors
`9#ÿ ÿ&'ÿ('ÿ ÿ)ÿ/ÿ: ÿÿ:  
`If you're an investor, it pays to know what the company's owners and mostimportant
`:!ÿ#+ÿ ÿ  'ÿ ÿ# ÿÿ; ÿÿÿ  #+ ÿ  ÿ ÿ ÿ  
`shareholders(i.e., insiders) are doing. By watching the trading activity of
` 
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`corporateinsiders and large institutional investors, it's easier to get a sense of a stock's
` ÿ  ÿ ÿ
`
ÿ    
`ÿ   'ÿ + ÿ ÿÿ
ÿÿ  ÿ!ÿÿ  ;+
`prospects. While insider or institutional ownership on its ownis not necessarily a buyorsell
`
`   ÿ9
`ÿ ÿÿ    
`ÿ   ÿ ÿ  ÿ ÿ ÿ ÿ   
`#ÿÿ,#ÿÿ 
`
`
`signal, it certainly offers a handyfirst screen in the search for a good investment. Since
`
`

`'ÿ ÿ 
`#ÿ!! ÿÿ #ÿ!  ÿ  ÿ ÿÿ  ÿ!ÿÿ
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`insider ownership and trading can impact share prices, Forms3, 4, and 5 are useful
`
` ÿ   ÿ ÿ
ÿ  ÿ  ÿ ÿ  'ÿ ÿ&'ÿ('ÿ ÿ)ÿÿ !
`
`disclosures
`
` 
`
`By paying close attention to whatinsiders do with their company shares, savvy investors can
`>#ÿ#
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` ÿ   ÿÿÿ  ÿÿ ÿ ÿ  #ÿ  'ÿ #ÿ   ÿ 
`make the reasonable assumption they know a lot more about their company's prospects than
`;ÿÿ  ,
`ÿ   ÿ#ÿ; ÿÿ
`ÿÿ,ÿ ÿ  #+ ÿ   ÿ
`the rest of us outsiders. So, if insiders are buying sharesin their own companies, they might
`ÿ ÿ!ÿ ÿ  ÿ'ÿ !ÿ  ÿÿ,#
ÿ  ÿ ÿ ÿ ÿ   'ÿ#ÿ

`know something that normal investors do not. The insider might buy because they see great
`; ÿ 
ÿÿ 
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ÿ,#ÿ,  ÿ#ÿ ÿ

`
`potential, the possibility for merger or acquisition in the future, or simply because they think
`  
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`#ÿ,  ÿ#ÿ ;
`their stock is undervalued.
` ÿ  ;ÿ ÿ 
`
`
`Oneof the greatest investors ofall time, Peter Lynch, oncesaid, "insiders mightsell their
`? ÿ!ÿÿ
 ÿ   ÿ!ÿ
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`shares for any number of reasons, but they buy them for only one: they think the price will
`  ÿ!ÿ #ÿ ,ÿ!ÿ  'ÿ,ÿ#ÿ,#ÿÿ!ÿ
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`
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`rise." Note that insiders are usually prevented from buying andselling their company stock
` *ÿÿÿ  ÿÿ 
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`#ÿ ÿ!ÿ,#
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`
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`within a six-month period following a corporate event or new issue; therefore, insiders tend to
`  ÿÿ ." ÿ ÿ!
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`
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`buy stocks whenthey feel the companywill perform well over the long-term.
`,#ÿ  ; ÿ ÿ#ÿ!
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`
`You can also have too much insider ownership. When insiders gain corporate
`ÿÿ  ÿ
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 ÿ 
`control, management may not feel responsible to shareholders and insteadtry to
`  
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` ÿ ÿ ÿ#ÿ
`enrich only themselves.
`  ÿ
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` 
`
`Schedule 13D
` 
`ÿ&C
`The Schedule 13D is also knownasthe "beneficial ownership report" and is required when
`ÿ 
`ÿ&Cÿ ÿ
` ÿ;  ÿ ÿÿ*, ! 
`ÿ   ÿ*ÿ ÿ ÿ- ÿ
`any owner acquires 5% or more of the voting shares in a company. The report mustbefiled
` #ÿ ÿ -  ÿ)Dÿÿÿ!ÿÿ
ÿ  ÿ ÿÿ  #ÿÿÿ ÿ,ÿ!
`
`within 10 days of reaching the 5% threshold. It provides the following information:
`  ÿ ÿ# ÿ!ÿ 
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`ÿ:ÿ  ÿÿ!
`
`
ÿ !  
`
`https://www.investopedia.com/articles/fundamental-analysis/08/sec-forms.asp
`       
` !  
`" 
`# $  "!  
`
`6/10
`%
`
`
`
`
`
`Apotex Exhibit 1050
`Apotex Exhibit 1050
`Page 6 of 10
`Page 6 of 10
`
`

`

`1/20/2021
`SEC Filings: Forms You Need To Know
`   
`ÿ
`
ÿ ÿÿÿÿ 
`The acquirer's name, address, and other background information
`ÿ & ' ÿ (ÿ (ÿ ÿÿ) *
 ÿ ! 
`Type of relationship this owner has with the company
`#ÿ!ÿ
`   ÿ ÿ ÿ ÿ ÿÿ  #
`Whether the person has been convicted of a crime in the pastfive years
`+ÿÿ  ÿ ÿ) ÿ   ÿ!ÿÿ  ÿ ÿÿ ÿ! ÿ#
`An explanation of whythe transaction is taking place
`, ÿ-
`   ÿ!ÿ#ÿÿ    ÿ ÿ*
ÿ
` 
`The type and class of the security
`ÿ#ÿ ÿ
` ÿ!ÿÿ   #
`¢ The origin of funds used for purchases '2
`ÿ
ÿ!ÿ!  ÿ ÿ!ÿ   ÿ
`
`Why Schedule 13D is Important to Investors
`+#ÿ 
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`Section 13D was added to the Securities Exchange Act of 1934 as part of a 1968
`   ÿ./ÿ ÿÿÿÿ    ÿ- 
ÿ, ÿ!ÿ1.2ÿ ÿÿ!ÿÿ13$
`amendmentknownasthe Williams Act. This addition responded to the increasing use
`  ÿ*  ÿ ÿÿ+
`
`  ÿ, ÿ ÿ   ÿ  ÿÿÿ 
ÿ 
`of tender offers as part of corporate takeovers. Schedule 13D was designedto give
`!ÿ ÿ!! ÿ ÿÿ!ÿ ÿ* ÿ 
`ÿ./ÿ ÿ
ÿÿ

`individual investors warning of impending changesto corporate control that could impact the
`   
`ÿ   ÿ
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ÿ 
 ÿÿ ÿ  
`ÿÿ 
`ÿ  ÿ
`future of the company, which would result from the consolidation of voting power
`!ÿ!ÿÿ  #(ÿ ÿ
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`ÿ!ÿÿ  
`   ÿ!ÿ
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`by corporate raiders.
`)#ÿ ÿ  
`
`Investors use Schedule 13D to both detect red flags in the consolidation of insider ownership
`0   ÿ ÿ 
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`
ÿ ÿÿ  
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`that can be potentially harmful to individual shareholders, but also as a possible harbinger of
`ÿ  ÿ)ÿ  
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`a companybeing acquired or bought out, which could benefit shareholders.
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` 
`
`Form 144
`ÿ22
`
`Form 144 is required when corporate insiders want to dispose of company stock. Form 144
`ÿ22ÿ ÿ& ÿ ÿ ÿ  ÿ ÿÿ  ÿ!ÿ  #ÿ  *ÿÿ22
`
`is a notice of the intent to sell restricted stock, typically acquired by insiders or affiliates in a
` ÿÿ  ÿ!ÿÿ  ÿÿ 
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`ÿ  ÿ  *(ÿ# 
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`transaction not involving a public offering. The stock is restricted because it must meet
`    ÿ ÿ 
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`certain conditions before becoming transferable. The transaction, or at least part ofit, is
`  ÿ     ÿ)!ÿ) 
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`made within 90 daysoffiling. Form 144 is required when the amountsold during any three-
`ÿ  ÿ1 ÿ# ÿ!ÿ!
`
ÿÿ22ÿ ÿ& ÿ ÿÿ ÿ 
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ÿ #ÿ"
`month period exceeds 5,000 shares or $50,000. 19
` ÿ ÿ-  ÿ4( ÿ  ÿÿ54 ( .ÿ
`
`Why Form 144 Is Important to Investors
`+#ÿÿ22ÿ0 ÿ0 ÿÿ0  
`While investors can look to Forms 3, 4, and 5 for changesin insider ownership, Form 144 is
`+
`ÿ   ÿ  ÿ
`*ÿÿ ÿ.(ÿ2(ÿ ÿ4ÿ!ÿ 
 ÿ ÿ ÿ   (ÿÿ22ÿ
`useful for knowing how manypotential shares will be offered for sale on the open market
` !
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`ÿ  ÿ
`
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`after the lock-up period for a new issue, such as an IPO, expires. Form 144 can indicate how
`
`!ÿÿ
` *"ÿ ÿ!ÿÿ ÿ (ÿ  ÿ ÿ ÿ067(ÿ-  ÿÿ22ÿ  ÿ  ÿ
`muchastockprice might suffer if a flood of new sale orders enter the market when the lock-
` ÿÿ  *ÿ ÿ
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`ÿ!ÿ ÿ 
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`up ends.
`ÿ  
`
`Underwriters and regulators require that a company's executives, managers, employees,
`8   ÿ ÿ

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`
`and early investors (such as venture capitalists) sign lock-up agreements surrounding a
` ÿ
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`company’sinitial public offering (IPO) to encourage an elementof stability in the stock's price
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`in the first few months of trading. The lock-up agreementis a legally binding contract
`
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`between companyunderwriters and insiders that prohibits insiders from selling any shares of
`) ÿ  #ÿ   ÿ ÿ  ÿÿ )  ÿ  ÿ!ÿ 
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`stock for a specified period of time. Lock-up periods typically last 180 days but can on
`
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`occasion lastfor aslittle as 120 days or as long as 365 days.
`   ÿ
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