Photo of Emily Fahey

Emily is an associate in the firm’s Corporate practice. She graduated from the University of Richmond School of Law, where she was a member of the Order of the Coif, the McNeill Law Society, and the Richmond Law & Business Forum. Additionally, she was the senior notes and comments editor for the University of Richmond Law Review Volume 56 and served as a judicial intern for the Honorable Brian R. Martinotti in the U.S. District Court for the District of New Jersey.

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.