StacksVerified U.S. regulatory reference

17 CFR §240.16b-5

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
Both the acquisition and the disposition of equity securities shall be exempt from the operation of section 16(b) of the Act if they are: (a) Bona fide gifts; or (b) transfers of securities by will or the laws of descent and distribution.