SEC Form 26

SEC Form 26 is a form filed by an exchange to notify the SEC of the admission to trading of a security that is temporarily exempt from registration. The form informs the SEC of the dates that the security was or will be admitted for trading, including on a "when-issued" basis.

SEC Form 26 is required under SEC Rule 12a-5, which pertains to temporary exemption from registration for certain securities. The rule allows the temporary exemption of substituted securities or additional amounts of securities already registered with the SEC. This rule applies when holders of a registered security obtain the right to acquire a substitute security issued by the same issuer or another issuer, or they obtain the right to obtain additional amounts of the original registered security.

The exemption is available only if certain requirements are met, including necessary approvals by existing shareholders. The length of the temporary exemption is also determined by certain conditions. It may terminate 120 days after the exempt security has been admitted to trading, but the SEC may also extend the exemption.

The term "when-issued" indicates a conditional transaction in a security authorized for issuance but is not as yet actually issued. These transactions are on an "if" basis, to be settled if and when the actual security is issued.