§ 16(b) beneficial owner at time of sale
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 404 U.S. 418 - Reliance Electric Company v. Emerson Electric Company · 1972Most cited · 57 citing opinions
Read literally, this language clearly contemplates that a statutory insider might sell enough shares to bring his holdings below 10%, and later—but still within six months—sell additional shares free from liability under the statute