Question $12$

Which of the below is an example of a primary market transaction?

One financial institution buys $400,000$ shares of Apple stock from another institution. An investment

banker arranges the transaction.

You sell $400$ shares of Apple stock on the NYSE through your broker.

You buy $400$ shares of Apple stock from your uncle. The trade is not made through a broker; you just

give him cash and he gives you the stock.

Apple issues $4,000,000$ shares of new stock and sells them to the public through an investment

banker.

Apple sells $4,000,000$ shares of treasury stock to its employees when they exercise options that were

granted in prior years