Which form must be filed to sell control stock or restricted stock?

• A. Form S-1
• B. Form 144
• C. Form BD
• D. Form D

Answer: (B)

Form 144 is the notice of proposed sale required under Rule 144 when someone who holds restricted stock or control stock plans to sell those securities. It gives the SEC details about the intended sale—how many shares, the approximate timing, and the method of sale—and must be filed before or at the time of the sale. This filing helps regulate insider dispositions and provides transparency for large or restricted holdings. Restricted and control securities aren’t freely tradable until they meet Rule 144 conditions, including volume limits and, in some cases, holding periods. The other forms address different processes: an S-1 registers a new issue with the SEC, Form BD relates to broker-dealer registration, and Form D is for certain private offerings. So, when selling restricted or control stock, Form 144 is the correct form.