Subject: Brk and buybacks, first the reg
“ Under SEC Rule 10b-18, a public company buying back its stock on the open market generally cannot purchase more than 25% of the stock's Average Daily Trading Volume (ADTV) in a single day. The ADTV is typically calculated based on the preceding four calendar weeks.While this 25% volume limit applies to regular daily open-market repurchases, a company can alternatively execute one "block trade" per week outside of this volume restriction. A block trade is broadly defined as a single transaction of at least 5,000 shares with a value of $50,000 or more.“ I’ll be very surprised if Brk wasn’t the buyer of 2.6 million Bs on Friday May 29th at 474.45.