Verisign 144: Filed by "insiders" prior intended sale of restricted stock. Non-EDGAR filing

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VERISIGN INC/CA

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Summary of this document::

• Issuer Information:
  • Name: VeriSign, Inc.
  • SEC File Number: 000-23593
  • Address: 12061 Bluemont Way, Reston, Virginia, 20190.
  • Phone: 703-948-3200.
    
• Seller Information:
  • Name: Danny R. McPherson.
  • Relationship: Officer of VeriSign, Inc.
    
• Securities Details:
  • Class: Common stock.
  • Broker: Morgan Stanley Smith Barney LLC Executive Services, Sandy, Utah.
  • Shares to Be Sold: 2,092 shares.
  • Aggregate Market Value: $402,572.58.
  • Outstanding Shares: 96,100,000.
  • Sale Date: Approximately December 2, 2024.
  • Exchange: NASDAQ.
    
• Acquisition Details:
  • Date Acquired: February 17, 2023.
  • Nature of Acquisition: Performance shares awarded as compensation.
  • Source of Acquisition: Issuer (VeriSign, Inc.).
    
• Past Sales:
  • No securities sold by the filer during the past three months.
    
• Certification:
  • The seller affirms they have no material non-public adverse information regarding the issuer.
  • Signed by: Danny R. McPherson.

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This document is Form 144, a filing required by the U.S. Securities and Exchange Commission (SEC) under Rule 144 of the Securities Act of 1933. It serves as a notice of a proposed sale of restricted or controlled securities, which are typically acquired through private means or as part of executive compensation.

Key Purposes:

• Transparency: Ensures public disclosure when company insiders (officers, directors, or significant shareholders) sell their securities.
• Compliance: Helps enforce rules on the resale of restricted or controlled securities.
• Market Protection: Prevents insider trading by confirming that the seller does not possess material non-public adverse information about the company.

Applicability:

• Filed by individuals or entities intending to sell restricted securities (acquired through private transactions) or control securities (owned by company insiders).
• Must meet specific criteria, including:
  • Minimum holding period (typically six months or one year).
  • Compliance with volume limitations based on the issuer’s total outstanding shares or average trading volume.

Process:
The filer submits Form 144 to disclose:

• Details about the securities (class, amount, value, etc.).
• Details about the seller (name, relationship to the issuer).
• Details about the issuer (company information and exchange).
• Certifications that the filer has no adverse non-public information.

Practical Example:
In this case:

• Danny R. McPherson, an officer of VeriSign, Inc., is proposing to sell 2,092 shares of common stock worth $402,572.58 on NASDAQ.
• He acquired the shares as performance-based compensation and has certified compliance with Rule 144’s requirements.

Conclusion:
This form ensures the transaction complies with SEC regulations and informs the public and markets about the insider’s intent to sell securities.
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