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Simple English definitions for legal terms
8-K
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A quick definition of 8-K:
8-K: A form that a company must file with the SEC if something important happens that affects its finances. This is in addition to the regular reports that companies have to file. It's like a special report that tells the SEC and investors about any big changes that could impact the company's value.
A more thorough explanation:
Definition: 8-K is a form that a registered corporation must file with the Securities and Exchange Commission (SEC) if a material event occurs that affects its financial condition between the due dates for regular SEC filings. This form is also known as Form 8-K and is different from the annual report (10-K).
- If a company's CEO resigns, they must file an 8-K form with the SEC.
- If a company announces a merger or acquisition, they must file an 8-K form with the SEC.
- If a company experiences a significant loss or gain, they must file an 8-K form with the SEC.
These examples illustrate how a material event can affect a company's financial condition and require them to file an 8-K form with the SEC. By doing so, the company provides transparency to its investors and the public about significant changes in its operations or financial status.