Just for clarity, Zenith is a private company.  As I understand it management elected to undertake certain reporting responsibilities to be eligible for registered accounts and because it is widely held. The CUSIP number issued as a result of this process allows for brokers to trade the shares in the "grey" market. 

I'm no expert around blackout regulations but I know that even during blackouts a company can still raise money to fund itself. Wrt to RVX insiders receiving units, my guess is that would be allowed if they were issued as compensation given RVX's ever present status as a cash strapped financial train wreck.  JMO