What is a Non-Open Market?
Non-open market describes an agreement to purchase or sell shares made directly with the company. Non-open market transactions do not take place on a market exchange like most purchase and sale transactions. These are private transactions and can include insider buying. While these transactions occur outside of the traditional market, they still need to be filed with the Securities and Exchange Commission (SEC).1 Such transactions can be referred to as a non-open market acquisition or disposition.
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