According to the documents disclosed by the usa Securities and Exchange Commission (SEC) on November 21, in Eastern Time,$Frontier Communications (FYBR.US)$Shareholder ACOF VI Frontier AIV B1, L.P. plans to sell 0.1615 million shares of common stock on November 21st, with a total market value of approximately $5.6177 million.
In addition, ACOF VI Frontier AIV B1, L.P. has collectively reduced their holdings in the company by 0.3541 million shares since November 18, 2024, with a total value of approximately $12.3146 million.
What is Form 144?
The 1933 Securities Act Rule 144 states: Related parties in a listed company (shareholders holding more than 10% of the listed company, company executives, and director members) and shareholders acquiring stocks from related parties (which belong to restricted or controlled securities) must comply with strict disclosure procedures when selling such stocks, and must file Form 144 with the SEC before selling.
Among them, related parties must hold the securities for at least six months, and the number of shares sold cannot exceed 1% of the total issued shares. When the quantity of stocks sold by related parties exceeds 5,000 shares in any three-month period, or the total market value exceeds 0.05 million dollars, they must submit the form to the SEC.
