SEC/CORPORATE -

SEC Proposes Rule 144 Tacking Amendments -

On December 22, 2020, the Securities and Exchange Commission voted to propose amendments to Rule 144 under the Securities Act of 1933 (the Securities Act) relating to tacking of holding periods for certain “marketadjustable securities.” Under the proposed rules, the Rule 144 holding period with respect to the underlying securities of these market adjustable securities would not commence until such securities are acquired from the issuer upon conversion or exchange. The SEC also proposed amendments related to Form 144 filings, including mandating that such filings be made electronically.