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Insider Equity and Insider Trading Publicity
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Insider Equity and Insider Trading Publicity
Corporate Governance
Insider Equity and Insider Trading Publicity
Insider definition
- Directors, supervisors, managers and shareholders holding more than 10 percent of the total number of shares of the company, including their spouses, minor children and other nominal holders.
- The government or legal person shall be the representative of the director and the supervisor of the company, including the spouse, minor children of the representative and the holder of the name of another person.
- An insider of a subsidiary of a financial holding company.
Note：Order No. 0920001301 of Securities and Futures Regulatory Commission of the Ministry of Finance dated March 27, 1992 amended the scope of application to managers as follows：
- General manager and equivalent.
- Vice president and equivalent.
- Associate and equivalent.
- Head of finance department.
- Head of accounting department.
- Other persons who have the right to manage the affairs of the company and sign.
Notes for new insiders
- The insider (including himself, his spouse, minor children and the holder of the name of another person) shall, within two days after the date of obtaining the identity, apply for the information declaration operation of the "Insider New (disrogation) Instant Declaration System".
- The directors, supervisors and managers of the Company shall sign the statement within 5 days after taking office and keep it in the company for future reference; The other directors and supervisors shall commence on the date of their appointment
Restriction on the disposition of stock of the company owned by an insider：
- He new insider shall not sell his holdings on the premises of the securities firm for "six months" from the date of acquisition of his status (except for gifts or transfers of trust).
- The new insider shall not be transferred "after six months" from the date of his/her acquisition of his/her status. However, if the daily transfer of shares at the premises of the securities firms exceeds 10,000 shares.The transaction can be made three days before the transfer after the prior declaration, and the transfer is completed within one month. If the transfer of the declared shares cannot be completed within one month.Within three days of the expiry of the transfer period, the "reasons for not completing the transfer" must be declared.
- If the insider's holdings are subject to mandatory auction by the court and more than 10,000 shares are disposed of, the insider shall receive the court's relevant notice. After the case, the transfer declaration should be handled in advance to avoid violating the provisions of Article 22 of the Law.
- When the stock is set and discharged, the company shall report the change of the last month's shareholding to the company before the 5th day of each month, and notify the company immediately of the pledge of the set and discharged.
- Insiders are not allowed to sell Treasury shares during the buyback period. (SEC. 28-2, Item 6 of the Securities Exchange Act).
- Avoid buying (selling) securities within 6 months after the expiration of the new 6 months. If any of the above things happen, the interest will be attributed to the company (right to subsume).
- Upon receiving information of the company that has a material impact on its stock price, the company shall not buy in the market until the news is not made public or within 18 hours after the news is made public and less than 6 months after the resignation of the company or sell, so as not to violate insider trading.
- Upon receiving information of the company that has a material impact on its stock price, the company shall not buy in the market until the news is not made public or within 18 hours after the news is made public and less than 6 months after the resignation of the company or sell, so as not to violate insider trading.
Insider shareholding change declaration time point every month
- The insider of the Shanghai Cabinet Company and Xing Cabinet Company shall report to the company the situation of the holdings and holdings (holdings) of the previous month before the fifth day of each month; The company also summarizes and enters the public information Observatory before the 15th day of each month.
- If the pledge (pledge) of the aforesaid stock is established, the issuer (pledge) shall notify the Company immediately; The Company shall, within five days after its pledge establishment (release), enter its pledge establishment (release) status into the Public Information Observatory.
Other matters that insiders should pay attention to
In order to prevent insiders from being punished for violating relevant regulations, the Cabinet Purchase Center has compiled the "Laws and regulations related to insider trading and insider equity of Shangxing Cabinet Company" and the precautions to be taken a book containing detailed information about the regulations related to the insider and the explanations of recent orders issued by the competent authorities.
Insider ownership and insider trading promotion
In accordance with the company's "prevention of insider trading management procedures", this year has been on2023/04/07、2023/4/24、2023/05/11、2023/07/27、2023/09/13、2023/10/20、2023/10/30、2023/11/01、2023/12/09 and 2023/12/27 to present directors and managers, provide the relevant laws and regulations of insider trading for the reference of current directors and managers, and post the course briefing on the company website for the reference of employees.
