1.
Let’s keep things simple here. Ass u me that Facebook was already publicly-traded and had 1,500,000 shares outstanding. The CFO has held 50,000 shares for 1 year. He files Form 144 on August 22. Previous weekly trading volume in Facebook’s restricted shares is as follows:
Week Ending Volume
August 19 15,100
August 12 16,000
August 5 14,500
July 29 15,000
July 22 17,000
How many shares can the CFO sell under Rule 144?