RJ, looking at the docs and links you posted, it clearly looks like gnbt is following FINRA's rules now, which may be all they can do. What is off is that the rules don't really make sense for a stock dividend (not cash), and the SEC has different rules, which do make sense.

Is FINRA supposed to echo the SEC rules? One would think. DId FINRA make a mistake in 2017 and not follow the SEC rule for stock (non-cash) dividends? Possibly.

Frankly I'm happy the pps didn't really slide much yesterday. Perhaps people aren't caring so much about the dividend this time - they care more for the underlying stock and aren't selling.