Posted on Wednesday, December 15, 2021

The Securities and Exchange Commission (SEC) published a rule proposal  designed to modernize and improve disclosure about repurchases of an issuer’s equity securities on a new Form SR on purchases of equity securities for each day that it makes a share repurchase. Form SR would report any purchase made by or on behalf of the issuer or affiliated purchaser of shares and would include identification of class of securities purchased, number of shares purchased, average price paid, aggregate number of shares on the open market, aggregate number of shares purchased in reliance on safe harbor, and aggregate number of shares purchased pursuant to a plan intended to satisfy the affirmative defense conditions of Rule 10b-5-1 (c).

New Form SR would be required to be reported in structured data format, both block text and detail tagging using Inline XBRL. Comments are due 45 days after publication in the Federal Register.

Read the rule.

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