Close Period

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Close Period

The time between the preparation of a company's balance sheet and its announcement to the public. The close period usually lasts about two months. During this time SEC rules prohibit insiders from buying or selling the company's shares in any way.
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The independence of the third party enables the Company to continue to purchase Ordinary Shares (including Ordinary Shares underlying ADRs) during close periods and other prohibited periods, should they arise.
Such bets and contracts will be banned during close periods ahead of formal company announcements just like conventional share dealings.
The report covers everything from base pay rates and variable compensation to sales close periods and yearly sales plan achievement.