Rule 144 limits the resale of two types of securities issued by public companies. A(n) is any stock purchased from the issuer in a(n) . If the is private, these securities cannot be sold for . Once the company goes public, this holding period shrinks to six months from the date of purchase. After the holding period closes, these securities may be sold freely unless they are also , which are stocks held by a shareholder who owns of a class of stock or by of a company. Additional restrictions apply during and after the holding period for these securities.