An "affiliate" refers to which TWO of the following?
I. Member of senior management who does not own company stock
II. Employee of the issuer
III. Person, such as a director or large shareholder, in a relationship of control with the issuer
IV. A mutual fund that owns 3% of the outstanding shares
A) I & III
B) I & IV
C) II & III
D) II & IV
Answer: A