![]() That’s because his “Passive Investor” eligibility has been called into question, based on his apparent negotiations for a seat on Twitter’s Board as well as public comments about Twitter’s policies. In addition, Musk’s 5%+ stake may have required filing a different filing form according to some. ![]() While it remains to be seen what fine the SEC may impose upon Musk, who’s stake in Twitter currently stands at 9.2%, it has been observed that Musk may have greatly benefitted financially from his filing delay, given his continuing purchases of Twitter stock before his filing (a public disclosure which sent Twitter share prices sharply higher). Musk checked the box “Rule 13d-1(c)”, which denotes “Passive Investor” eligibility and triggers a filing deadline of 10 days after surpassing 5% (in other words, a deadline of March 24 th). ![]() The “Technoking and Chief Executive Officer of Tesla”, who on March 14 th surpassed a 5 % ownership threshold in the social media platform Twitter according to his Schedule 13G filing dated April 4 th, appears to have made that filing late. ![]()
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