Naz Jalali and Paul Hallgren discuss the expansion of disclosure obligations announced by the U.S. Securities and Exchange Commission (SEC) in relation to issuer share repurchases in The Legal Intelligencer.
The SEC has introduced heightened disclosure obligations for companies engaging in share repurchase programs, aiming to provide investors with more transparency. The new requirements seek to ensure that issuers provide comprehensive information about their repurchase plans and their potential impact on the company's financial health.
In the article, Naz and Paul review the changes to the obligations, including quarterly quantitative reporting of share repurchases, a checkbox indicating officer/director trades near repurchase announcements, expanded disclosures on repurchase objectives, processes, and policies as well as mandatory disclosure of Rule 10b5-1 trading plans on Forms 10-Q and 10-K.
To read the full article, click here.