General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934
Rule 16a-9 -- Stock Splits, Stock Dividends, and Pro Rata Rights
The following shall be exempt from section 16
of the Act:
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 that class, including a stock dividend in which equity securities of a different
issuer are distributed.
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.
Note: The exercise or sale of a pro rata right shall be
reported pursuant to Rule 16a-4 and the exercise shall
be eligible for exemption from section 16(b)
of the Act pursuant to Rule 16b-6(b).
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