ECD Rule 10b51 Flag Disclosures

Rule function

This rule identifies where the filer has not reported the ECD Rule 10b51 Flag Disclosures that should be reported with a value of false if they had no such disclosures to make. The rule identifies if this flag is not reported in 10-K and 20-F filings with a document period end date after 2023-12-31. The rule checks if the following 4 flags defined in the ECD taxonomy are missing:

• Rule10b51ArrAdoptedFlag,
• NonRule10b51ArrAdoptedFlag,
• Rule10b51ArrTrmntdFlag,
• NonRule10b51ArrTrmntdFlag

Problem solved by the rule

The SEC ECD taxonomy requires that these 4 flags are tagged even if the values are false. This rule checks that this disclosure has been made.

Example rule message

The element Rule10b51ArrAdoptedFlag is a required disclosure after 12/21/2023. Please report the boolean flag value for this element.

Rule Element ID: 10103
Rule version: 23.0.0RC1

For Developers

The Global Rule Logic document contains general guidelines for implementation of rules.

The rule message template contains text and parametric reference to arguments of the rule operation, using the syntax ${parameter} to indicate that insertion of a parameter’s value is to occur.

Message template

The element {$flag} is a required disclosure after 12/21/2023. Please report the boolean flag value for this element.

Rule Element ID: {$ruleId}
Rule version: {$ruleVersion}

Test Case Index

The rule element id is used to identify unique elements or combinations of elements tested in the rule.