44410 Federal Register / Vol. 86, No. 153 / Thursday, August 12, 2021 / Notices 

Parcel Select Contract 47 to Competitive 

Product List. Documents are available at 

www.prc.gov, Docket Nos. MC2021–120, 

CP2021–122. 

Sean Robinson, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2021–17166 Filed 8–11–21; 8:45 am] 

BILLING CODE 7710–12–P 

POSTAL SERVICE 

Product Change—Priority Mail 

Negotiated Service Agreement 

AGENCY: Postal ServiceTM. 

ACTION: Notice. 

SUMMARY: The Postal Service gives 

notice of filing a request with the Postal 

Regulatory Commission to add a 

domestic shipping services contract to 

the list of Negotiated Service 

Agreements in the Mail Classification 

Schedule’s Competitive Products List. 

DATES: Date of required notice: August 

12, 2021. 

FOR FURTHER INFORMATION CONTACT: 

Sean Robinson, 202–268–8405. 

SUPPLEMENTARY INFORMATION: The 

United States Postal Service® hereby 

gives notice that, pursuant to 39 U.S.C. 

3642 and 3632(b)(3), on August 6, 2021, 

it filed with the Postal Regulatory 

Commission a USPS Request to Add 

Priority Mail Contract 717 to 

Competitive Product List. Documents 

are available at www.prc.gov, Docket 

Nos. MC2021–121, CP2021–123. 

Sean Robinson, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2021–17167 Filed 8–11–21; 8:45 am] 

BILLING CODE 7710–12–P 

POSTAL SERVICE 

Product Change—Priority Mail 

Negotiated Service Agreement 

AGENCY: Postal ServiceTM. 

ACTION: Notice. 

SUMMARY: The Postal Service gives 

notice of filing a request with the Postal 

Regulatory Commission to add a 

domestic shipping services contract to 

the list of Negotiated Service 

Agreements in the Mail Classification 

Schedule’s Competitive Products List. 

DATES: Date of required notice: August 

12, 2021. 

FOR FURTHER INFORMATION CONTACT: 

Sean Robinson, 202–268–8405. 

SUPPLEMENTARY INFORMATION: The 

United States Postal Service® hereby 

gives notice that, pursuant to 39 U.S.C. 

3642 and 3632(b)(3), on August 2, 2021, 

it filed with the Postal Regulatory 

Commission a USPS Request to Add 

Priority Mail Contract 716 to 

Competitive Product List. Documents 

are available at www.prc.gov, Docket 

Nos. MC2021–119, CP2021–121. 

Sean Robinson, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2021–17165 Filed 8–11–21; 8:45 am] 

BILLING CODE 7710–12–P 

POSTAL SERVICE 

Product Change—Priority Mail 

Negotiated Service Agreement 

AGENCY: Postal ServiceTM. 

ACTION: Notice. 

SUMMARY: The Postal Service gives 

notice of filing a request with the Postal 

Regulatory Commission to add a 

domestic shipping services contract to 

the list of Negotiated Service 

Agreements in the Mail Classification 

Schedule’s Competitive Products List. 

DATES: Date of required notice: August 

12, 2021. 

FOR FURTHER INFORMATION CONTACT: 

Sean Robinson, 202–268–8405. 

SUPPLEMENTARY INFORMATION: The 

United States Postal Service® hereby 

gives notice that, pursuant to 39 U.S.C. 

3642 and 3632(b)(3), on July 29, 2021, 

it filed with the Postal Regulatory 

Commission a USPS Request to Add 

Priority Mail Contract 715 to 

Competitive Product List. Documents 

are available at www.prc.gov, Docket 

Nos. MC2021–117, CP2021–119. 

Sean Robinson, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2021–17163 Filed 8–11–21; 8:45 am] 

BILLING CODE 7710–12–P 

POSTAL SERVICE 

Product Change—Priority Mail 

Express, Priority Mail, & First-Class 

Package Service Negotiated Service 

Agreement 

AGENCY: Postal ServiceTM. 

ACTION: Notice. 

SUMMARY: The Postal Service gives 

notice of filing a request with the Postal 

Regulatory Commission to add a 

domestic shipping services contract to 

the list of Negotiated Service 

Agreements in the Mail Classification 

Schedule’s Competitive Products List. 

DATES: Date of required notice: August 

12, 2021. 

FOR FURTHER INFORMATION CONTACT: 

Sean Robinson, 202–268–8405. 

SUPPLEMENTARY INFORMATION: The 

United States Postal Service® hereby 

gives notice that, pursuant to 39 U.S.C. 

3642 and 3632(b)(3), on July 29, 2021, 

it filed with the Postal Regulatory 

Commission a USPS Request to Add 

Priority Mail Express, Priority Mail, & 

First-Class Package Service Contract 75 

to Competitive Product List. Documents 

are available at www.prc.gov, Docket 

Nos. MC2021–118, CP2021–120. 

Sean Robinson, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2021–17164 Filed 8–11–21; 8:45 am] 

BILLING CODE 7710–12–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–126, OMB Control No. 

3235–0287] 

Proposed Collection; Comment 

Request 

Upon Written Request Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Extension: 

Form 4 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the collection of information 

summarized below. The Commission 

plans to submit this existing collection 

of information to the Office of 

Management and Budget for extension 

and approval. 

Under Section 16(a) of the Securities 

Exchange Act of 1934 (‘‘Exchange Act’’) 

(15 U.S.C. 78a et seq.) every person who 

is directly or indirectly the beneficial 

owner of more than 10 percent of any 

class of any equity security (other than 

an exempted security) which registered 

under Section 12 of the Exchange Act 

(15 U.S.C. 78l), or who is a director or 

an officer of the issuer of such security 

(collectively ‘‘insiders’’), must file a 

statement with the Commission 

reporting their ownership. Form 4 is a 

statement to disclose changes in an 

insider’s ownership of securities. The 

information is used for the purpose of 

disclosing the equity holdings of 

insiders of reporting companies. 

Approximately 338,207 insiders file 

Form 4 annually and it takes 

approximately 0.5 hours to prepare for 

a total of 169,104 annual burden hours. 

Written comments are invited on: (a) 

Whether this proposed collection of 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 86, No. 153 / Thursday, August 12, 2021 / Notices 44411 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3On August 4, 2021, the Exchange filed Partial 

Amendment No. 1 to the proposed rule change. The 

Exchange withdrew Partial Amendment No. 1 on 

August 6, 2021. 

4See Rule 4.11 (definition of micro-option). 

Currently, the Exchange has the authority to list 

options on 13 indexes that satisfy this criteria: S&P 

500 Index, Mini-S&P 500 Index (XSP), Russell 2000 

Index (RUT), Mini-Russell 2000 Index (MRUT), 

Dow Jones Industrial Average (DJX), S&P 100 Index 

(OEX and XEO), S&P 500 ESG Index (SPESG), MSCI 

EAFE Index (MXEA), MSCI Emerging Markets 

Index (MXEF), Russell 1000 Growth Index (RLG), 

Russell 1000 Value Index (RLV), Russell 1000 Index 

(RUI), and FTSE 100 Mini-Index (UKXM). The 

proposed rule change would authorize the 

Exchange to list Micro FLEX Index Options on the 

same 13 indexes. 

5This assumes an S&P 500 Index value of 

4,327.70. 

6An investor could also trade 23 SPX options and 

11 micro-options. We do not, however, expect 

investors to make two separate trades in this 

manner due to the additional price and execution 

risk that accompanies two separate trades compared 

to a single trade. 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information will have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden imposed by the collection 

of information; (c) ways to enhance the 

quality, utility, and clarity of the 

information collected; and (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology. Consideration will be given 

to comments and suggestions submitted 

in writing within 60 days of this 

publication. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid 

control number. 

Please direct your written comment to 

David Bottom, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Cynthia 

Roscoe, 100 F Street NE, Washington, 

DC 20549 or send an email to: PRA_

Mailbox@sec.gov. 

Dated: August 6, 2021. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–17157 Filed 8–11–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92599; File No. SR–CBOE– 

2021–041] 

Self-Regulatory Organizations; Cboe 

Exchange, Inc.; Notice of Filing of a 

Proposed Rule Change To Amend 

Certain Rules To Accommodate the 

Listing and Trading of Micro FLEX 

Index Options and To Make Other 

Clarifying and Nonsubstantive 

Changes 

August 6, 2021. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on July 23, 

2021, Cboe Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘Cboe Options’’) filed 

with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the Exchange.3

The Commission is publishing this 

notice to solicit comments on the 

proposed rule change from interested 

persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

Cboe Exchange, Inc. (the ‘‘Exchange’’ 

or ‘‘Cboe Options’’) proposes to amend 

certain Rules to accommodate the listing 

and trading of Micro FLEX Index 

Options and to make other clarifying 

and nonsubstantive changes. The text of 

the proposed rule change is provided in 

Exhibit 5. 

The text of the proposed rule change 

is also available on the Exchange’s 

website (http://www.cboe.com/ 

AboutCBOE/CBOELegal

RegulatoryHome.aspx), at the 

Exchange’s Office of the Secretary, and 

at the Commission’s Public Reference 

Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of this proposed rule 

change is to amend certain rules to 

accommodate the listing and trading of 

certain FLexible EXchange (‘‘FLEX’’) 

index options with an index multiplier 

of one (‘‘Micro FLEX Index Options’’). 

The Exchange has the authority to list 

options on broad-based indexes for 

which the value of the underlying is at 

least 100 with an index multiplier of 

one 4 and proposes to expand that 

authority to list FLEX Index Options on 

the same indexes with an index 

multiplier of one. The Exchange 

believes Micro FLEX Index Options will 

expand investors’ choices and flexibility 

by listing and trading FLEX Options on 

larger-valued broad-based indexes, 

which provide investors with the ability 

to gain exposure to the market, with a 

notional value of 1/100th of the value of 

currently available FLEX Index Options. 

The Exchange believes the additional 

granularity provided by Micro FLEX 

Index Options with respect to the prices 

at which investors may execute and 

exercise index options on the Exchange 

will appeal to institutional investors by 

providing them with an additional 

exchange-traded tool to manage the 

positions and associated risk in their 

portfolios more precisely based on 

notional value, which currently may 

equal a fraction of a standard contract. 

For example, suppose an investor holds 

a security portfolio of $10,000,000 and 

desires to hedge its portfolio with SPX 

options. In order to hedge the entire 

portfolio with SPX options, the investor 

would need to trade 23.11 contracts 

($10,000,000/$432,770).5 The nearest 

whole number of contracts would be 23 

contracts, which would have a total 

notional value of $9,953,710. As a 

result, the investor could only hedge 

within $46,290 of its portfolio value 

with SPX options with an index 

multiplier of 100 and would be 

underhedged. However, with SPX 

micro-options, the investor would need 

to trade 2,310.70 contracts ($10,000,000/ 

$4,327.70). The nearest whole number 

of contracts would be 2,311 SPX microoptions,6 which would have a total 

notional value of $10,001,314.70. This 

will allow the investor to hedge within 

$1,315 of its portfolio value. Therefore, 

the proposed rule change would permit 

this investor to hedge its portfolio more 

effectively with far greater precision. 

The Exchange notes investors may 

currently execute and exercise options 

with this smaller contract multiplier in 

the unregulated over-the-counter 

(‘‘OTC’’) options market. The Exchange 

understands that investors may prefer to 

trade such options in a listed 

environment to receive the benefits of 

trading listing options, including (1) 

enhanced efficiency in initiating and 


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