{"data":{"id":"us/17-cfr-240.16a-9","jurisdiction":"us","citation":"17 CFR 240.16a-9","heading":"a-9 Stock splits, stock dividends, and pro rata rights.","body":"The following shall be exempt from section 16 of the Act:\n(a) The increase or decrease in the number of securities held as a result of a stock split or stock dividend applying equally to all securities of a class, including a stock dividend in which equity securities of a different issuer are distributed; and\n(b) The acquisition of rights, such as shareholder or pre-emptive rights, pursuant to a pro rata grant to all holders of the same class of equity securities registered under section 12 of the Act.\nNote:\nThe exercise or sale of a pro rata right shall be reported pursuant to § 240.16a-4 and the exercise shall be eligible for exemption from section 16(b) of the Act pursuant to § 240.16b-6(b).","path":["Title 17—Commodity and Securities Exchanges","CHAPTER II—SECURITIES AND EXCHANGE COMMISSION","PART 240—GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-17.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:31Z","sha256":"4691473f660e4200644822e38e012caf294aef1c4aabd2fb68eaff6caffea252","source_id":"us-cfr","stale":true,"prev":"us/17-cfr-240.16a-8","next":"us/17-cfr-240.16a-10"},"notice":"GroundRules: Original legal text. Not legal advice."}