bingohouse| Form 144 |International Bancshares(IBOC.US) directors plan to sell 80,000 shares worth approximately US$4.792 million

According to documents disclosed by the US Securities and Exchange Commission (SEC) on May 21, US Eastern Timebingohouse，$International Bancshares (IBOCbingohouse.US)$Director SANCHEZ ANTONIO R JR plans to sell 80,000 ordinary shares on May 21bingohouse, with a total market value of approximately US$4.792 million.

In addition, SANCHEZ ANTONIO R JR has reduced its holdings of a total of 40,000 shares in the company since March 11, 2024, with a total value of approximately US$2.1692 million.

Image source: SEC announcement

What is Form 144?

Rule 144 of the U.S. Securities Act of 1933 stipulates that: related parties in a listed company (major shareholders, company executives and board members holding more than 10% of the shares) and shareholders who obtain shares from related parties (such shares are restricted securities or controlled securities) must comply with strict disclosure procedures when selling such shares, and must file Form 144 documents with the SEC before selling.

Among them, related parties must hold securities for at least six months, and the number of shares sold must not exceed 1% of the total issued shares. The number of shares sold by a related party exceeds 5 per cent in any three-month periodbingohouseThe form must be filed with the SEC when the total market value exceeds US$50,000.

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