§ 240.16a-9 Stock splits, stock dividends, and pro rata rights.  


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  • The following shall be exempt from section 16 of the Act:

    (a) The increase or decrease in the number of securities held as a result of a stock split or stock dividend applying equally to all securities of a class, including a stock dividend in which equity securities of a different issuer are distributed; and

    (b) The acquisition of rights, such as shareholder or pre-emptive rights, pursuant to a pro rata grant to all holders of the same class of equity securities registered under section 12 of the Act.

    [56 FR 7265, Feb. 21, 1991, as amended at 61 FR 30393, June 14, 1996]

[56 FR 7265, Feb. 21, 1991, as amended at 61 FR 30393, June 14, 1996