Photo of Danilo Castelli

Danilo is an associate focusing on corporate and securities matters. He provides regulatory and corporate advice to financial institutions, counseling them on a variety of regulatory and compliance matters, including in connection with applications to federal regulatory agencies. Additionally, Danilo counsels clients, such as pharmaceutical companies, financial institutions, and large corporations, in connection with securities offerings, securities regulation, mergers and acquisitions, and general corporate governance.

On May 3, the Securities and Exchange Commission (SEC) adopted rule amendments regarding disclosures about repurchases of an issuer’s equity securities, or issuer stock buybacks. The final rule and fact sheet can be found here and here. The new rules include:

  • Disclosure by issuers of daily quantitative share repurchase information, either quarterly or semi-annually;
  • Inclusion of a checkbox indicating whether certain officers and directors traded in the relevant securities in the four business days before or after the announcement of the repurchase plan or program;
  • For each day on which a purchase was made, the number of shares repurchased and the average price, among other disclosures; and
  • Disclosures tagged using Inline XBRL.