What Is A Section 16 Officer? (Solved)

Section 16 Officer means every person who is directly or indirectly the beneficial owner of more than ten percent (10%) of any class of any equity security (other than an exempted security) which is registered pursuant to Section 12 of the Securities Exchange Act of 1934.

What is a 16b officer for 401k?

Section 16(b) Officer means an officer of the Company who is subject to the short-swing profit recapture rules of section 16(b) of the 1934 Act.

What does it mean to be a named officer?

Named Executive Officers means the Chief Executive Officer (“CEO”) of the Company, regardless of the amount of compensation of that individual, each of the Company’s four most highly compensated executive officers, other than the CEO, who were serving as executive officers at the end of the most recent financial year

What is Section 16 of the Exchange Act?

Section 16 is a rule within the Securities Exchange Act of 1934 (SEA) that articulates the regulatory filing responsibilities that directors, officers, and principal stockholders are legally required to adhere to.

What is an SEC officer?

Related Definitions SEC Officer means an Employee who is an officer of the Company within the meaning of Section 16a-1f of the Securities Exchange Act of 1934.

Who is subject to short swing profit rule?

The short-swing profit rule is a Securities and Exchange Commission (SEC) regulation that requires company insiders to return any profits made from the purchase and sale of company stock if both transactions occur within a six-month period.

What is SEC Rule 16b 3?

The SEC amended Rule 16b-3 to confirm that acquisitions from or dispositions to a company by its officers or directors may be exempt from Section 16(b), whether or not intended for a compensatory or other particular purpose, as long as one of the approval conditions is satisfied.

Are officers employees?

Corporate officers An officer of a corporation is generally an employee. However, an officer who performs no services or only minor services and who neither receives nor is entitled to receive any pay is not considered an employee.

Who qualifies as an officer of a company?

Corporate officers are high-level management executives hired by the business’s owner or board of directors. Examples include the organization’s chief executive officer (CEO), chief financial officer (CFO), treasurer, president, vice president, and secretary.

Which type of names a company Cannot keep?

Words not Allowed in Company Name Development Scheme or the use of word Scheme with the name of Government(s), State, India, Bharat or any Government authority or in any manner resembling with the schemes launched by Central, State or Local Government or Authorities.

Does section 16 apply to private companies?

Section 16 requirements apply to the directors and designated officers of a public company, even if such persons do not own any securities of the company.

What is a Section 13 group?

Section 13(d), persons who, within a short period of. time, have acquired large interests of equity securities, or increased the number of equity securities by a. substantial amount, must disclose pertinent information. related to their holdings in a particular company.

What is the difference between a 13G and 13D filing?

Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements. Schedule 13G can be filed in lieu of the SEC Schedule 13D form as long as the filer meets one of several exemptions.

What is a Reg D fund?

Regulation D (Reg D) is a Securities and Exchange Commission (SEC) regulation governing private placement exemptions. The regulation allows capital to be raised through the sale of equity or debt securities without the need to register those securities with the SEC.

What is a 506 B offering?

Rule 506(b) is a safe harbor under Regulation D of the Securities Act that provides a way for companies to raise money without registering with the Securities and Exchange Commission (SEC). This means that the company selling the securities can’t advertise the securities to the general public.

Who is an executive officer SEC?

“Executive officer” means the president, any vice president in charge of a principal business unit, division or function (such as sales, administration or finance), any other officer who performs a policy making function, or any other person who performs similar policy making functions for the issuer.