Which of the following statements about Form 144 is correct?

Form 144 is indeed specific to the sale of restricted or control securities, which makes this statement the correct choice. Restricted securities are those that are acquired in unregistered, private sales from the issuer or from an affiliate of the issuer. Control securities, on the other hand, are owned by affiliates of the issuing company, such as officers, directors, or large shareholders.

The requirement to file Form 144 stems from the necessity to notify the SEC when an affiliate intends to sell restricted or control securities, providing insight into the volume and timing of these transactions. This aligns with the goals of transparency and regulation in the securities market to prevent fraud and ensure fair trading practices.

When looking at the other statements, it is clear why they do not align with the intent and purpose of Form 144. The form is not exclusively for public offerings; rather, it is used in a more specific context related to restricted and control securities. It is also not mandatory for all stock transactions—there are many transactions that do not require this form, and its use is particularly tailored to those cases involving restricted or control securities. Finally, there are restrictions surrounding when and how Form 144 can be filed, making the assertion that it can be filed at any time without restrictions inaccurate