Rule 144 Holding Periods

Caution: This chart assumes that the issuer has either
never been a shell or, if so, has complied with Rule 144(i)(2).
Affiliate or person selling on behalf
of an affiliate
Non-Affiliate (and has not been an affiliate during the
prior three months)
Restricted Securities of Reporting Issuers  

During six month holding period – no resales under
Rule 144 permitted.

After six month holding period – may resell in
accordance with all Rule 144 requirements including:

  • Current public information,
  • Volume limitations,
  • Manner of sale requirements for equity
    securities and,
  • Filing of Form 144

 

During six month holding period – no resales under
Rule 144 permitted.

After six month holding period but before one year –
unlimited public resales under Rule 144 except that the current public
information requirement still applies.

After one year holding period – unlimited public
resales under Rule 144; need not comply with any other Rule 144 requirements.

 

Restricted Securities of Non-Reporting Issuers  

During one year holding period – no resales under Rule
144 permitted.

After one year holding period – may resell in
accordance with all Rule 144 requirements including:

  • Current public information,
  • Volume limitations,
  • Manner of sale requirements for equity securities and,
  • Filing of Form 144

 

 

During one year holding period – no resales under Rule
144 permitted.

After one year holding period – unlimited public
resales under Rule 144; need not comply with any other Rule 144 requirements.