CFR›Title 17›Chapter II›Part 240›Subject Group Exemption of Certain Transactions From Section 16(<span class="standard">b</span>)›17 CFR 240.16b-5 Citation17 CFR 240.16b-5CorpusDaily eCFRDisplayed edition2026-10-01Last updated2026-10-01 § 240.16b-5 Bona fide gifts and inheritance.Both the acquisition and the disposition of equity securities shall be exempt from the operation of section 16(b) of the Act if they are: (a) Bona fide gifts; or (b) transfers of securities by will or the laws of descent and distribution. Previous 240.16b-3 § 240.16b-3 Transactions between an issuer and its officers or directors. Next 240.16b-6 § 240.16b-6 Derivative securities.
§ 240.16b-5 Bona fide gifts and inheritance.Both the acquisition and the disposition of equity securities shall be exempt from the operation of section 16(b) of the Act if they are: (a) Bona fide gifts; or (b) transfers of securities by will or the laws of descent and distribution.