SEC filings, explained

The annual report. The single most comprehensive disclosure a U.S. public company files with the SEC. Audited financials, business overview, risk factors, MD&A.

The quarterly report. Unaudited financials covering the prior three months, filed within 40 or 45 days of quarter-end depending on filer size.

The current report. Material events the market should know about within four business days — earnings releases, leadership changes, mergers, bankruptcies, asset sales.

Quarterly long-equity holdings disclosure required from institutional investment managers with ≥$100M in qualifying U.S. equity assets. Filed within 45 days of quarter-end.

Insider transactions. Officers, directors, and ≥10% beneficial owners must file within two business days of any change in their ownership of company securities.

The IPO prospectus. The registration statement a company files when going public — business description, risk factors, financials, use of proceeds, underwriter list.

Both disclose ≥5% beneficial ownership. 13D is for activists and anyone with intent to influence control; 13G is the short-form for passive holders. The choice signals intent.

The definitive proxy statement. Mailed before annual meetings — covers director elections, Say-on-Pay, executive compensation (CD&A), shareholder proposals, and the most candid governance disclosures the company files all year.

The annual report for Foreign Private Issuers — non-U.S. companies (Toyota, Novartis, Alibaba, ASML, SAP) listed on U.S. exchanges. The 10-K equivalent, with IFRS accepted and a 4-month deadline.

The shelf registration. Seasoned issuers pre-register securities for future issuance, then 'take down' from the shelf via 424B prospectus supplements when market conditions allow. Apple, Microsoft, JPMorgan use the WKSI variant (S-3ASR).