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<p><span>Thank you, Chair Gensler. &nbsp;The Commission initially adopted rule 10b5-1 under the Securities Exchange Act of 1934 in the year 2000</span><span>&nbsp;and has not revised it since.&nbsp; In the past 22 years, thousands of public company employees, directors, and officers have entered into written plans designed to satisfy rule 10b5-1&rsquo;s affirmative defenses.</span><span>&nbsp; These &ldquo;10b5-1 plans&rdquo; have received much scrutiny because of concerns that corporate insiders have claimed reliance on an affirmative defense while possibly trading on the basis of material nonpublic information.</span><span>&nbsp; Today&rsquo;s amendments are intended to address these concerns, attempting to strike the right balance between (1) eliminating opportunistic behavior and (2) providing a rule that can be implemented on a practical basis.&nbsp; While I support the final amendments, which

John fieldsendSean harrisonFelicia kungPearl crawleyDivision of corporationSecurities exchangeDivision of economicSecurities exchange actRegulations kCorporation financeRisk analysisGeneral counselChair gensler