Rule 144 addresses certain resales
Rule 144 provides a non-exclusive safe harbor for certain public resales of restricted or control securities when its applicable conditions are satisfied. The analysis can depend on holding period, issuer reporting status, current public information, affiliate status, sale volume, manner of sale and Form 144 requirements.
A restrictive legend is not removed automatically. Issuer and transfer-agent procedures, often including a legal opinion, may apply. Sellers should obtain current legal advice before relying on Rule 144.