What Is SEC Form PRE 14C?
SEC Form PRE 14C is a preliminary document filed with the Securities and Business Price (SEC). It must be filed via a registrant prior to its annual or explicit shareholder meetings to provide preliminary information related to a subject matter reasonably than a merger, contested solicitation, or explicit meeting.
The ideas supplied on form PRE 14C lets in shareholders to make a professional alternatives about their votes, or how you’ll be able to delegate their vote casting rights to a proxy throughout the fit that they are now not ready to attend the meeting specifically individual.
Key Takeaways
- SEC Form PRE 14C is a preliminary financial disclosure required via companies prior to a shareholder meeting.
- The form provides preliminary information in anticipation of a Agenda 14C filing.
- This information is wanted throughout the SEC and section 14(c) of the Securities and Business Act of 1934.
Figuring out SEC Form PRE 14C
SEC Form PRE 14C provides protection holders, who are entitled to vote on issues for which the company is not soliciting proxies, with the ideas required via Agenda 14A. The form moreover provides information about the pastime of certain people in need or in opposition to problems to be acted upon and recommendations via protection holders. The form is had to state that proxies are not solicited.
SEC Form PRE 14C is wanted underneath Phase 14(c) of the Securities Business Act of 1934. This fashion must be filed with the SEC 10 days previous than definitive information statements are allocated to shareholders and helps the SEC give protection to shareholders’ rights via ensuring that they download key information, clearly introduced.
Solicitations, whether or not or now not via keep an eye on or shareholder groups, must disclose all vital main points regarding the issues on which shareholders are asked to vote. The disclosure information filed with the SEC and in the end supplied to the shareholders is enumerated in SEC Schedules 14A.
Proxy Problems
Where a shareholder vote is not being solicited, similar to when a company has were given shareholder approval by way of written consent in lieu of a meeting, a company may satisfy its Phase 14 must haves via filing a knowledge observation with the SEC and then mailing the ones statements to its shareholders. In this case, the disclosure information filed with the SEC and mailed to shareholders is enumerated in SEC Agenda 14C.
As with the proxy solicitation materials filed in Agenda 14A, a Agenda 14C Information Remark must be filed prematurely of final mailing to the shareholder and is reviewed throughout the SEC to be sure that all vital main points are disclosed. On the other hand, Agenda 14C does not solicit or request shareholder approval (or any other movement, for that topic), then again somewhat informs shareholders of an approval already were given and corporate actions which can also be approaching.
