How do I remove restricted legend from stock certificate?

If you want to remove the restrictive legend, you should contact the company that issued the securitiesor the transfer agent for the company's securitiesto ask about the procedures for removing a legend. If you have a broker, you may want to ask your broker to help you.

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Legend on Stock Certificate with Reference to Separate Document...

Sacramento California Legend on Stock Certificate with Reference to Separate Document Restricting Transfer of Shares

Name: Sacramento California Legend on Stock Certificate with Reference to Separate Document Restricting Transfer of Shares
Brand: US Legal Forms
Rating: 4.75 (454 reviews)

Category:

Corporations - Shareholders and Stock

State:

Multi-State

County:

Sacramento

Control #:

US-1058BG

Format:

Instant download

Description

A Legend is a statement on a stock certificate noting restrictions on the transfer of the stock, often due to SEC requirements for unregistered securities. The Securities Act of 1933 regulates the initial sale of securities to the public. Some securities are exempt from coverage of the Act. Certain stock issue transactions are also exempt (i.e., exempt from registration with the Securities and Exchange Commission). This Legend restricts the transfer of stock in accordance with the Articles of Incorporation or the Corporation's Bylaws or a Shareholder's Buy Sell Agreement.

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How to fill out Sacramento California Legend On Stock Certificate With Reference To Separate Document Restricting Transfer Of Shares?

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FAQ

Restricted and unrestricted stocks are important components of corporate executive compensation packages. Restricted stocks have particular conditions that must be fulfilled before they can be transferred or sold, whereas unrestricted stocks have no such conditions. There are two types of restricted stocks.

The legend indicates that the securities may not be resold in the marketplace unless they are registered with the SEC or are exempt from the registration requirements. Certificates for control securities usually are not stamped with a legend.

Restricted stock refers to unregistered shares of ownership in a corporation that are issued to corporate affiliates, such as executives and directors. Restricted stock is non-transferable and must be traded in compliance with special Securities and Exchange Commission (SEC) regulations.

If you want to remove the restrictive legend, you should contact the company that issued the securitiesor the transfer agent for the company's securitiesto ask about the procedures for removing a legend. If you have a broker, you may want to ask your broker to help you.

Restricted stock refers to unregistered shares issued by public companies in private placement transactions and also to registered and unregistered securities held by affiliates and issuers. Restricted stock cannot be sold through public transactions due to securities laws and regulations.

A legend is a statement on a stock certificate noting restrictions on the transfer of the stock. A stock legend is typically put in place due to the requirements established by the Securities and Exchange Commission (SEC) for unregistered securities.

When securities are restricted, a restrictive legend is usually stamped on the back of the stock certificate, prohibiting its sale in the public marketplace unless they are registered with the SEC or are exempt from the registration.

33 Act Legend means the following language placed on a stock certificate: THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ESCROWED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT OR, IN THE OPINION

Advantages. RSUs provide an incentive for employees to stay with a company for the long term and help it perform well so that their shares increase in value.

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Sacramento California Legend on Stock Certificate with Reference to Separate Document Restricting Transfer of Shares

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