Does Rule 144 apply to non affiliates?
A non-affiliate is not required to comply with the manner of sale requirement, volume limitation or Form 144 filing obligation of Rule 144 in connection with the sale of restricted stock. Those requirements apply only to sales by affiliates.
Who is considered an affiliate under Rule 144?
Rule 144 at (a)(1) defines an affiliate of an issuing company as a person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, such issuer.
What is a 144 letter?
Form 144 must be filed with the SEC by an affiliate as a notice of the proposed sale of securities when the amount to be sold under Rule 144 during any three-month period exceeds 5,000 shares or units or has an aggregate sales price in excess of $50,000.
What is a broker representation letter?
A representation letter is something a tenant rep broker will ask you to sign. It has several purposes. First and foremost, it demonstrates your commitment. Once the tenant rep broker has that letter from you, they know that are much more likely to get paid a commission on your lease.