Travis Texas Legend is a specific clause found on stock certificates that serves as a notice of restriction on the transfer of stocks. This restriction is in place due to a stock redemption agreement that mandates a specific procedure for the transfer of shares. The agreement requires that before a stockholder can transfer their shares to any other party, they must first make an offer to the corporation itself. If the corporation declines or fails to accept the offer, the stockholder must then extend the same offer to other existing stockholders. The Travis Texas Legend on the Stock Certificate Giving Notice of Restriction on Transfer due to Stock Redemption Agreement Requiring First an Offer to the Corporation and then an Offer to other Stockholders is essential for maintaining control over the ownership and distribution of stocks within a corporation. The legend acts as a legal reminder to all parties involved in stock transfers about the specific requirements that must be followed. The legend is commonly used by corporations to safeguard their interests and maintain a level of control over the company's ownership structure. It helps to prevent unwanted or unauthorized transfers of shares without due consideration of the corporation's existing shareholders. There are variations of the Travis Texas Legend that may differ slightly in wording or formatting, but they ultimately convey the same core message and restrictions on stock transfer. Some potential variants or similar legends that serve the same purpose include: 1. "Travis Texas Legend — Stock Redemption Agreement Restriction Notice" 2. "Stock Transfer Restriction Notice — Travis Texas Legend" 3. "Restriction on Share Transfer Notice — Travis Texas Legend" 4. "Transfer Restriction Language — Travis Texas Legend" 5. "Stock Certificates Subject to Stock Redemption Agreement Restriction — Travis Texas Legend" These legends may vary based on legal requirements, specific jurisdiction, or the preferences of the corporation issuing the stock certificates. However, they all aim to ensure compliance with the stock redemption agreement and protect the corporation's interests in the transfer of shares.
Travis Texas Legend on Stock Certificate Giving Notice of Restriction on Transfer due to Stock Redemption Agreement Requiring First an Offer to the Corporation and then an Offer to other Stockholders
Description
How to fill out Travis Texas Legend On Stock Certificate Giving Notice Of Restriction On Transfer Due To Stock Redemption Agreement Requiring First An Offer To The Corporation And Then An Offer To Other Stockholders?
A document routine always accompanies any legal activity you make. Staring a business, applying or accepting a job offer, transferring property, and many other life situations require you prepare formal paperwork that differs throughout the country. That's why having it all accumulated in one place is so valuable.
US Legal Forms is the biggest online collection of up-to-date federal and state-specific legal forms. On this platform, you can easily find and get a document for any personal or business objective utilized in your region, including the Travis Legend on Stock Certificate Giving Notice of Restriction on Transfer due to Stock Redemption Agreement Requiring First an Offer to the Corporation and then an Offer to other Stockholders.
Locating templates on the platform is amazingly straightforward. If you already have a subscription to our library, log in to your account, find the sample using the search field, and click Download to save it on your device. Afterward, the Travis Legend on Stock Certificate Giving Notice of Restriction on Transfer due to Stock Redemption Agreement Requiring First an Offer to the Corporation and then an Offer to other Stockholders will be accessible for further use in the My Forms tab of your profile.
If you are using US Legal Forms for the first time, follow this quick guideline to obtain the Travis Legend on Stock Certificate Giving Notice of Restriction on Transfer due to Stock Redemption Agreement Requiring First an Offer to the Corporation and then an Offer to other Stockholders:
- Ensure you have opened the proper page with your localised form.
- Make use of the Preview mode (if available) and browse through the sample.
- Read the description (if any) to ensure the form meets your requirements.
- Search for another document via the search tab in case the sample doesn't fit you.
- Click Buy Now once you locate the necessary template.
- Decide on the suitable subscription plan, then log in or create an account.
- Choose the preferred payment method (with credit card or PayPal) to continue.
- Opt for file format and download the Travis Legend on Stock Certificate Giving Notice of Restriction on Transfer due to Stock Redemption Agreement Requiring First an Offer to the Corporation and then an Offer to other Stockholders on your device.
- Use it as needed: print it or fill it out electronically, sign it, and send where requested.
This is the simplest and most reliable way to obtain legal documents. All the templates provided by our library are professionally drafted and checked for correspondence to local laws and regulations. Prepare your paperwork and manage your legal affairs effectively with the US Legal Forms!
Form popularity
FAQ
The restrictive legend can only be removed by a transfer agent, who will typically require an opinion letter from the legal counsel of the issuing party.
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.
Legend Removal Period means, with respect to any securities, any period during which (a) a registration statement (including the Registration Statement) covering the resale of such securities is effective under the Securities Act, (b) such securities have been or are being sold pursuant to Rule 144 or Rule 144A and the
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.
Key Takeaways. Restricted stock units are a form of stock-based employee compensation. RSUs are restricted during a vesting period that may last several years, during which time they cannot be sold. Units are just like any other shares of company stock once they are vested.
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 own stock in a fully reporting non-shell company, you may be eligible to sell your stock if you have beneficially owned it for more than 6 months and less than one year. In order to do this, you will need to contact your broker/dealer and they will assist you in removing the restriction.
You may not sell, assign, pledge, encumber, or otherwise transfer any interest in the Restricted Shares until the dates set forth in the Vesting Schedule set forth below, at which point the Restricted Shares will be referred to as Vested. A Restricted Share shall not be subject to execution, attachment or similar
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 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.
