Form 144 - Notice of Proposed Sale of Securities Pursuant to Rule 144 under the Securities Act of 1933

Forms and Documents

Document Name	Status
Form SEC 1147 Form 144 - Notice of Proposed Sale of Securities Pursuant to Rule 144 under the Securities Act of 1933 Form and Instruction	Modified
Rule 144 Proposing Release.SupportingStatement.Final.pdf Supporting Statement A	2021-04-29
February 5, 2020 EDAGR PIA.pdf Supplementary Document	2021-04-23

IC Document Collections

IC ID	Document Title	Status
34350	Form 144 - Notice of Proposed Sale of Securities Pursuant to Rule 144 under the Securities Act of 1933 Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0101	ICR Reference No: 202104-3235-021
Status: Received in OIRA	Previous ICR Reference No: 202006-3235-007
Agency/Subagency: SEC	Agency Tracking No: CF-270-112
Title: Form 144 - Notice of Proposed Sale of Securities Pursuant to Rule 144 under the Securities Act of 1933
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 04/30/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	07/31/2023
Responses	33,412	33,725
Time Burden (Hours)	33,412	33,725
Cost Burden (Dollars)	0	0

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Abstract: Form 144 is used to report the sale of securities during any three-month period that exceeds 5,000 shares or other units, or has an aggregate sales price that does not exceed $50,000.

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Authorizing Statute(s): US Code: 15 USC 77d, 77f, 77g, 77h, 77j, Name of Law: Securities Act of 1933
   US Code: 15 USC 77s(a), 77z-3 Name of Law: Securities Act of 1933
   US Code: 15 USC 78c, 78p, 78w(a) Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AM78	Proposed rulemaking	86 FR 5063	01/19/2021

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Form 144 - Notice of Proposed Sale of Securities Pursuant to Rule 144 under the Securities Act of 1933	SEC 1147	Form 144

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	33,412	33,725	0	-313	0	0
Annual Time Burden (Hours)	33,412	33,725	0	-313	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The proposed amendments would amend Rule 144(d)(3)(ii) to revise the holding period determination for securities acquired upon the conversion or exchange of certain market-adjustable securities of an issuer that does not have a class of securities listed, or approved to be listed, on a national securities exchange registered pursuant to Section 6 of the Exchange Act. As a result, the holding period for the underlying securities would not begin until conversion or exchange. The proposed amendments would also mandate the electronic filing of all Form 144 notices related to the resale of securities of issuers that are subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, and eliminate the filing requirement for Form 144 notices related to the resale of securities of issuers that are not subject to Exchange Act reporting. Additionally, the proposed amendments would eliminate two unnecessary data fields, and the Commission intends to create an online fillable document for entering the information required by Form 144. The amendments would also change the filing deadline for Form 144 to coincide with the filing deadline for Form 4. Finally, the proposed amendments would amend Forms 4 and 5 to add a check box to permit filers to indicate that a sale or purchase reported on the form was made pursuant to a transaction that satisfied Rule 10b5-1(c). For Form 144, the Commission estimates that proposed amendments would result in a decrease of 313 internal burden hours and no change in outside professional costs.

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Annual Cost to Federal Government: $103,479,690

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 04/30/2021

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