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Form 3
Dec 10, 2020 18:13:05 GMT -5
Post by akemp3000 on Dec 10, 2020 18:13:05 GMT -5
So Sabrina Kay is appointed to the BOD and then fills out a form 3 which appears in one location to indicate she (the reporting person) may now beneficially own 10% of the company. Another location on form 3 says, "no securities are beneficial owned". I do not know how to read form 3 correctly. Her resume indicates she might have the financial horsepower to do so. Someone please help explain this.
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Post by Clement on Dec 10, 2020 19:00:19 GMT -5
I dunno but I think Form 3 is for 1) director Or 2) 10% owner Sabrina would be director, not 10% owner.
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Post by robbmo on Dec 10, 2020 19:11:38 GMT -5
So Sabrina Kay is appointed to the BOD and then fills out a form 3 which appears in one location to indicate she (the reporting person) may now beneficially own 10% of the company. Another location on form 3 says, "no securities are beneficial owned". I do not know how to read form 3 correctly. Her resume indicates she might have the financial horsepower to do so. Someone please help explain this. Form 3 is merely a disclosure of holdings in the company. Once she became affiliated with the BOD, the law requires that she disclose any holding in the company within 10 days.
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Post by akemp3000 on Dec 10, 2020 19:19:20 GMT -5
Makes sense. Thanks. Many have said it would have an impact if company leaders were to buy stock. Hopefully she's next to file a form 4.
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Post by cedafuntennis on Dec 10, 2020 21:59:58 GMT -5
Correct, do not translate the checkbox across the line. It pertains only to the "Director" next to it, meaning that Sabrina is a Director. Nothing more, nothing less.
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