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Simple English definitions for legal terms

smaller reporting company

Read a random definition: secundum tenorem chartae confectae

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.

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
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the devil
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20:50
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20:50
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JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
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im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
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JumpySubsequentDolphin
21:34
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JumpySubsequentDolphin
21:35
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JumpySubsequentDolphin
21:35
he has since moved
22:12
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i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
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people were getting excited :sob:
22:25
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JumpySubsequentDolphin
22:39
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JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
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