December 9, 2021
SEC Open Meeting: Buybacks Disclosure & Insider Trading on Agenda for Next Wednesday!
Yesterday, the SEC gave notice of an open meeting for next Wednesday, December 15th. There are a total of five items on the agenda – a very full meeting! Of most interest to this crowd are these two:
– Share Repurchase Disclosure Modernization: The Commission will consider whether to propose amendments to modernize share repurchase disclosure, including more detailed and more frequent disclosure about issuer share repurchases and requiring issuers to present the disclosure using a structured data language.
– Rule 10b5-1 and Insider Trading: The Commission will consider whether to propose amendments to Rule 10b5-1 and new disclosure regarding 10b5-1 trading arrangements and insider trading policies and procedures, as well as amendments regarding the disclosure of the timing of certain equity compensation awards and reporting of gifts on Form 4.
– Liz Dunshee