§ 421(d)

disposition meets section 422(a)(1) or 423(a)(1)

UNDECIDED

0 of 3 settled

  1. 1

    § 421(d)

    ALL OF

    If—

    “a share of stock is transferred to an eligible person (as defined in section 1043(b)(1)) pursuant to such person’s exercise of an option to which this part applies, and” § 421(d)(1) needs Step 2 Eligible person UNDECIDED
    “such share is disposed of by such person pursuant to a certificate of divestiture (as defined in section 1043(b)(2)),” § 421(d)(2) needs Step 3 a certificate of divestiture UNDECIDED

    such disposition shall be treated as meeting the requirements of section 422(a)(1) or 423(a)(1), whichever is applicable.

  2. 2

    § 1043(b)(1)

    Eligible person

    ANY OF
    “an officer or employee of the executive branch, or a judicial officer, of the Federal Government, but does not mean a special Government employee as defined in section 202 of title 18, United States Code”
    “any spouse or minor or dependent child whose ownership of any property is attributable under any statute, regulation, rule, judicial canon, or executive order referred to in paragraph (2) to a person referred to in subparagraph (A)”
  3. 3

    § 1043(b)(2)

    a certificate of divestiture

    ALL OF

    The term “certificate of divestiture” means any written determination—

    “any written determination—” Opening words
    “that states that divestiture of specific property is reasonably necessary to comply with any Federal conflict of interest statute, regulation, rule, judicial canon, or executive order (including section 208 of title 18, United States Code), or requested by a congressional committee as a condition of confirmation,” § 1043(b)(2)(A)

    “Reasonably” implies facts and circumstances. No regulation cites this provision (eCFR, Oct 19, 2026)

    “that has been issued by the President or the Director of the Office of Government Ethics, in the case of executive branch officers or employees, or by the Judicial Conference of the United States (or its designee), in the case of judicial officers, and” § 1043(b)(2)(B)
    “that identifies the specific property to be divested.” § 1043(b)(2)(C)