What Is SEC Form 10-C?
The SEC Form 10-C was once a kind filed with the Securities and Trade Rate (SEC) by means of firms whose securities were quoted on the NASDAQ interdealer quotation instrument. This type was once used any time there was once a change in outstanding shares in way over 5% or if there was once a change inside the name of the issuer.
Key Takeaways
- The SEC Form 10-C was once a kind filed with the Securities and Trade Rate (SEC) by means of firms whose securities were quoted on the NASDAQ interdealer quotation instrument.
- This type was once used any time there was once a change in outstanding shares in way over 5% or if there was once a change inside the name of the issuer.
- The requirement to report SEC Form 10-C was once lined under Rule 13a-17 and 15d-17 of the Securities Trade Act of 1934.
Understanding Form 10-C
The requirement to report SEC Form 10-C was once lined under Rule 13a-17 and 15d-17 of the Securities Trade Act of 1934. Companies were required to report this report inside of 10 days of making the important changes outlined on the form.
SEC Form 10-C was once a relatively brief file that required elementary information about the issuer, the issuer’s change in outstanding shares, and any change inside the name of the issuer.
Along side the issuer’s name and contact knowledge, Form 10-C required the issuer to list the name of the security (i.e., now not atypical shares, debt securities, spinoff securities, and so on.), the collection of shares outstanding that that they had issued forward of the change, and the collection of shares outstanding that that they had issued after the change. It further required the issuer to list the environment friendly date of the change.
Form 10-C moreover required the issuer to list the way all over which the upward thrust in shares outstanding occurred, whether or not or now not by means of merger, acquisition, distribution, business, stock get a divorce, acquisition of stock for treasury, or by means of each and every different method. The file moreover required issuers to supply a temporary description of the transaction which ended in the upward thrust or decrease of shares outstanding.
The form was once discontinued in 1997, with without equal filing taking place on August 21 of that year.
Example of SEC Form 10-C Filing
For instance, a Form 10-C filed with the SEC in 1996 by means of the Steris Corporate documented an increase inside the collection of now not atypical shares issued by means of the company from 17,943,860 to 33,129,301, environment friendly May 13, 1996.
Form 10-C was once discontinued in 1997, with its final filing taking place on August 21 of that year.
Steris Corporate reported that the change in outstanding shares occurred as a result of a merger with AMSCO Global, Inc., during which each and every share of AMSCO Global now not atypical stock was once exchanged for a share of Steris Corporate now not atypical stock, valued at $0.46 at the present time.
Form 10-C moreover required issuers to report any change in name, at the side of their name prior to the change, their name after the change, and the environment friendly date of the charter amendment used to change their name, along with the date of shareholder approval of the name change, if it was once required. Steris did not report a name change on its May 1996 Form 10-C.
