What information is required to be included in the purpose section of Form 144?

The purpose section of Form 144 must include the reasons for the sale of securities. This is critical because Form 144 is used by affiliates of an issuer to notify the SEC of their intent to sell restricted securities. By providing the reasons for the sale, the seller helps to inform regulators and investors about the motivations behind their decision to sell, which can provide important context regarding market conditions, liquidity needs, or other factors influencing the sale. This transparency is vital in maintaining market integrity and investor trust. The emphasis on detailing the reasons serves to uphold regulatory compliance and provide necessary insight into the seller's actions and their potential impact on the market.