Will We See An SEC Form 4 From IGC Fund IV's Sales, On Tuesday?

Since IGC is north of a 10 percent holder of Mattersight, it will have to promptly file an SEC Form 4 -- if it was a net seller of shares, in the 1.2 million share volume day, on the NASDAQ-OTC on Friday. [By way of background, here is the original SEC Form 3, announcing IGC's 14 percent stake in Mattersight, in December of 2011 (when it acquired its position).]

So -- SEC Section 16 rules require reporting on Tuesday, if IGC was open-market selling on Friday, thus -- Instruction 1(a) to SEC Form 4:

. . .This Form must be filed before the end of the second business day following the day on which a transaction resulting in a change in beneficial ownership has been executed (see Rule 16a-1(a)(2) and Instruction 4 regarding the meaning of “beneficial owner,” and Rule 16a-3(g) regarding determination of the date of execution for specified transactions).

This Form and any amendment is deemed filed with the Commission or the Exchange on the date it is received by the Commission or the Exchange, respectively. See, however, Rule 16a-3(h) regarding delivery to a third party business that guarantees delivery of the filing no later than the specified due date. . . .

So -- we shall see -- after the close of the market on Monday, or certainly before market open on Tuesday. I would bet dollars to donuts that it was IGC selling on Friday.