as employer securities and shall be treated for purposes of subsection (e) as having been disposed of by the employee. (2) Qualified employee stock distribution The term qualified employee stock distribution means a distribution by an employer of employer securities to employees (determined as of the date of the distribution) of such employer as compensation for services, except that there may be disregarded any employee who (as of the date of the distribution)— (A) has not attained age 18, (B) has not completed 12 months of service with the employer, (C) is a nonresident alien, (D) is a citizen or resident of a foreign jurisdiction (including any individual who is also a citizen or resident of the United States) if the distribution to such individual is prohibited under the laws of such foreign jurisdiction, (E) holds 10 percent or more of the outstanding stock of the employer, or (F) is an employee whose compensation from the employer is subject to disclosure under rules promulgated by the Securities and Exchange Commission. (3) Maximum stock amount The term maximum stock amount means, with respect to any distribution, the lowest number of employer securities received by any employee of the employer in such distribution. (4) Qualified disposition (A) In general The term qualified disposition means, with respect to the disposition of any employer security described in paragraph (2) of subsection (a) (and which meets the holding requirement of such paragraph) during any calendar year, the disposition of a number of shares of such security not in excess of the excess of— (i) the applicable percentage of the aggregate number of shares of such security received during the calendar year that such security was received, over (ii) the aggregate number of shares of such security taken into account under this subparagraph for all prior calendar years. (B) Applicable percentage For purposes of clause (i), the applicable percentage is, with respect to any calendar year following the calendar year in which such security