SEC. 16.
DIRECTORS, OFFICERS, AND PRINCIPAL STOCKHOLDERS.
(a)
DISCLOSURES REQUIRED.
(1)
DIRECTORS, OFFICERS, AND PRINCIPAL STOCKHOLDERS
REQUIRED TO FILE.Every person who is
directly or indirectly the beneficial owner of more
than 10 percent of any class of any equity security (other
than an exempted security) which is registered pursuant to
section 12, or who is a director or an officer of the issuer of such
security, shall file the statements required by this subsection with
the Commission (and, if such security is registered on a
national securities exchange, also with the exchange).
(2)
TIME OF FILING.The statements
required by this subsection shall be filed
(A) at the time of the
registration of such security on a national securities
exchange or by the effective date of a registration statement
filed pursuant to section 12(g);
(B) within 10 days after he or
she becomes such beneficial owner, director, or
officer;
(C) if there has been a change
in such ownership, or if such person shall have
purchased or sold a securitybased swap agreement (as defined in
section 206(b) of the Gramm-Leach-Bliley Act (15
U.S.C. 78c note)) involving such equity security, before the
end of the second business day following the day on which
the subject transaction has been executed, or at such
other time as the Commission shall establish, by rule, in any
case in which the Commission determines that such 2-day
period is not feasible.
(3) CONTENTS OF STATEMENTS.A
statement filed
(A) under subparagraph (A) or
(B) of paragraph (2) shall contain a statement of the
amount of all equity securities of such issuer of which the
filing person is the beneficial owner; and
(B) under subparagraph (C) of
such paragraph shall indicate ownership by the filing
person at the date of filing, any such changes in such
ownership, and such purchases and sales of the security-based
swap agreements as have occurred since the most
recent such filing under such subparagraph.
(4)
ELECTRONIC FILING AND AVAILABILITY.Beginning
not later than 1 year after the date
of enactment of the Sarbanes- Oxley Act of 2002
(A) a statement filed under
subparagraph (C) of paragraph (2) shall be filed
electronically;
(B) the Commission shall
provide each such statement on a publicly accessible
Internet site not later than the end of the business day
following that filing; and
(C) the issuer (if the issuer
maintains a corporatewebsite) shall provide that
statement on that corporate website, not later than the end
of the business day following that filing..
(b)
EFFECTIVE DATE.The amendment made by
this section shall be effective 30 days after
the date of the enactment of this Act.
