; and (II) may collect the penalty described in subclause (I) beginning on the day after the date on which that 180-day period ends; and (ii) the Office may revoke the charter of the United States corporation. 7. Executive compensation (a) Definitions In this section: (1) Covered person The term covered person means an officer or a director of a United States corporation. (2) Equity security The term equity security has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) ). (3) Rule 10b–18 purchase The term Rule 10b–18 purchase has the meaning given the term in section 240.10b–18(a) of title 17, Code of Federal Regulations, as in effect on the date of enactment of this Act. (4) Subject security The term subject security means any— (A) equity security of a United States corporation; or (B) security, the value of which is derived from, or that otherwise relates to, an equity security described in subparagraph (A). (b) Sale of subject securities (1) Prohibitions Subject to paragraph (2), no covered person with respect to a United States corporation may— (A) during the 5-year period that begins on the date on which the covered person first owns or beneficially owns a subject security with respect to that United States corporation (or an affiliate of that United States corporation), sell, transfer, pledge, assign, alienate, or hypothecate, in exchange for value, that subject security, other than— (i) in connection with the sale of the United States corporation or the affiliate, as applicable; or (ii) through— (I) a will; or (II) the laws of descent or distribution