| "Sec. 16. DIRECTORS, OFFICERS, AND PRINCIPAL STOCKHOLDERS. |
| "(a) Disclosures Required.-- |
"(1) Directors, officers, and principal stockholders required to file.--
Every person who is directly or indirectly the beneficial owner of more
than 10 percent of any class of any equity security (other than an exempted
security) which is registered pursuant to section 12, or who is a director
or an officer of the issuer of such security, shall file the statements
required by this subsection with the Commission (and, if such security
is registered on a national securities exchange, also with the exchange). |
"(2) Time of filing.-- The statements required by this subsection
shall be filed-- |
"(A) at the time of the registration of such security on a national
securities exchange or by the effective date of a registration statement
filed pursuant to section 12(g);
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"(B) within 10 days after he or she becomes such beneficial owner,
director, or officer;
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"(C) if there has been a change in such ownership, or if such person
shall have purchased or sold a security-based swap agreement (as defined
in section 206(b) of the Gramm-Leach-Bliley Act (15 U.S.C. 78c note))
involving such equity security, before the end of the second business
day following the day on which the subject transaction has been executed,
or at such other time as the Commission shall establish, by rule, in
any case in which the Commission determines that such 2-day period is
not feasible.
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"(3) Contents of statements.-- A statement filed-- |
"(A) under subparagraph (A) or (B) of paragraph (2) shall contain
a statement of the amount of all equity securities of such issuer of
which the filing person is the beneficial owner; and
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"(B) under subparagraph (C) of such paragraph shall indicate ownership
by the filing person at the date of filing, any such changes in such
ownership, and such purchases and sales of the security-based swap agreements
as have occurred since the most recent such filing under such subparagraph.
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"(4) Electronic filing and availability.-- Beginning not later than
1 year after the date of enactment of the Sarbanes-Oxley Act of 2002-- |
"(A) a statement filed under subparagraph (C) of paragraph (2) shall
be filed electronically;
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"(B) the Commission shall provide each such statement on a publicly
accessible Internet site not later than the end of the business day
following that filing; and
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"(C) the issuer (if the issuer maintains a corporate website) shall
provide that statement on that corporate website, not later than the
end of the business day following that filing.".
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