Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

smaller reporting company

Read a random definition: Articuli Cleri

A quick definition of smaller reporting company:

A smaller reporting company is a type of company that has less strict disclosure requirements than other reporting companies. To be considered a smaller reporting company, a company must have a public float of less than $250 million or less than $100 million in annual revenues and a public float of less than $700 million. Once a company qualifies as a smaller reporting company, it is required to disclose less information about executive compensation and management discussion and analysis. Additionally, it only needs to provide two years of income statements and cash flow statements instead of three.

A more thorough explanation:

A smaller reporting company is a type of company that has fewer disclosure requirements than regular reporting companies. The Securities and Exchange Commission (SEC) has established specific criteria for a company to qualify as a smaller reporting company.

To qualify as a smaller reporting company, a company must:

  • Not be an investment company or a subsidiary of a parent that is not a smaller reporting company
  • Have a public float of less than $250 million; or
  • Have less than $100 million in annual revenues and no public float or public float of less than $700 million

Once a company qualifies as a smaller reporting company, it is subject to relaxed disclosure requirements. For example:

  • Under item 402, Executive Compensation, a smaller reporting company only needs to name three executive officers and provide two years of summary compensation, instead of five officers and three years of compensation for regular reporting companies.
  • Under item 303, Management Discussion and Analysis (MD&A), a smaller reporting company only needs to provide two years of comparison, instead of three years.
  • Under Regulation S-X, a smaller reporting company only needs to provide two years of income statements and cash flow statements, instead of three years.

For example, if a company has a public float of $200 million, it can qualify as a smaller reporting company and only needs to provide two years of executive compensation and MD&A, and two years of income and cash flow statements.

Small estate | Smart Grid

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.