H4Halt — Non-Compliance
H4 is a listing-qualification halt. The company has fallen out of compliance with the exchange's continued listing standards — which can cover shareholder equity, bid price, public float, governance, or filing obligations — and trading is stopped while the deficiency is addressed.
What triggers it
- Failure to meet the continued listing standards maintained by the exchange.
- Deficiencies the exchange judges serious enough to warrant halting rather than a notification and cure period alone.
How long it lasts
Long. Compliance halts are measured in days or longer, not minutes, and can persist through a review or appeal process.
How it resumes
Trading resumes when the exchange confirms the compliance issue is resolved. The alternative outcome is delisting, after which the security may trade over the counter.
What it means for a day trader
H4 is a structural risk event. The realistic downside is not a bad reopening price but the security leaving the exchange entirely.
Recovery after a compliance halt is a fundamentally different distribution from a volatility pause and should never be pooled with LULD data in a backtest.
Related halt codes
Track H4 halts as they happen
Halt Strategy monitors live NASDAQ and NYSE halts, replays the setup around each event, and backtests outcomes segmented by halt code — so H4 events are never averaged in with everything else.
Primary sources
Halt Strategy is research software, not investment advice, and does not execute trades. Halt procedures are set by the exchanges and regulators and can change; confirm current rules against the primary sources before acting on them. Read the full disclaimer and editorial policy.