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On December 14, 2022, the U.S. Securities and Exchange Commission ("SEC") unanimously adopted final rules adding new conditions applicable to Rule 10b5-1 trading plans.
The final rules go into effect 60 days after their date of publication in the Federal Register February 27, 2023. After such date, any new or amended Rule 10b5-1 trading plan must comply with the requirements of the final rules.
Overview of SEC Final Rules on Rule 10b5-1 Trading Plans - On December 14, 2022, the U.S. Securities and Exchange Commission (“SEC”) unanimously adopted final rules.
Companies are beginning to look ahead to the upcoming 2023 proxy and annual reporting season, and there are a number of key issues to consider as preparations commence. This alert.