To remove a restriction on shares that have been held between 6 months and 1 year for Non-Affiliates we require the following:
- Original stock certificate. The registered shareholder must endorse the back of the certificate and have it signature medallion guaranteed by a financial institution.
- 144 Statement of Non-Affiliation filled out completely.
- Brokers Representation Letter stating the shares have been or will be sold. Stock must be placed in a broker name.
- A legal opinion from company counsel is required or an outside legal opinion may be authorized by the company.
- Instructions that include a physical mailingĀ address of where to send the new certificate back to and a contact number.
- Please contact the appropriate transfer agent for the fees specific to this transaction.
To remove a restriction on shares that have been held for 1 year for Non-Affiliates we require the following:
- Original stock certificate. As long as registration on the certificate is not changing the certificate does not need to be endorsed or signature medallion guaranteed.
- 144 Statement of Non-Affiliation filled out completely.
- A legal opinion from company counsel is required or an outside legal opinion may be authorized by the company.
- Instructions that include a physical mailing address of where to send the new certificate back to and a contact number.
- Please contact the appropriate transfer agent for the fees specific to this transaction.
To remove a restriction on shares for Affiliates we require the following:
- Original stock certificate. The registered shareholder must endorse the back of the certificate and have it signature medallion guaranteed by a financial institution.
- 144 Sellers letter filled out completely.
- Brokers Representation Letter stating the shares have been or will be sold.
- The stock that is being sold must be placed in a broker name.
- The legend removal request must be presented by the broker to PST directly.
- A legal opinion from company counsel is required or an outside legal opinion may be authorized by the company and it must reference the affiliate requirements of rule 144 being met.
- A copy of the filed form 144 from the SEC.
- Instructions that include a physical mailing address of where to send the new certificate back to and a contact number.
- Please contact the appropriate transfer agent for the fees specific to this transaction.
**Please note Shell companies cannot rely on rule 144. The Issuer cannot be a considered a “shell” company for at least one year prior to the request.**
