For Purposes of Section 16(b) of the 1934 Securities Exchange

question 40

Multiple Choice

For purposes of Section 16(b) of the 1934 Securities Exchange Act, which of the following are not "insiders"?

• A) Shareholders owning more than 10 percent of the stock of a corporation listed on a national stock exchange or registered with the SEC.
• B) Directors.
• C) Officers.
• D) All of these may be considered insiders.

---

Definitions:

Vertical Analysis

A method of financial statement analysis in which each line item is listed as a percentage of a base figure, facilitating comparison across different periods and companies.

Base Amount

The initial sum of money or level of quantity that serves as a starting point for calculations or adjustments.

Financial Statement Data

Refers to quantitative information extracted from a company's financial statements, used to assess its financial health.