SEC Form 10-C

What Is SEC Form 10-C?

The SEC Form 10-C was a form filed with the Securities and Exchange Commission (SEC) by companies whose securities were quoted on the NASDAQ interdealer quotation system. This form was utilized any time there was a change in outstanding shares in excess of 5% or on the other hand in the event that there was a change for the sake of the issuer.

Figuring out Form 10-C

The requirement to file SEC Form 10-C was covered under Rule 13a-17 and 15d-17 of the Securities Exchange Act of 1934. Companies were required to file this report in something like 10 days of rolling out the necessary improvements illustrated on the form.

SEC Form 10-C was a somewhat short document that required basic information about the issuer, the issuer's change in outstanding shares, and any change for the sake of the issuer.

Notwithstanding the issuer's name and contact information, Form 10-C required the issuer to list the name of the security (i.e., common shares, debt securities, derivative securities, etc.), the number of shares outstanding they had issued before the change, and the number of shares outstanding they had issued after the change. It further required the issuer to list the effective date of the change.

Form 10-C additionally required the issuer to list the means by which the increase in shares outstanding occurred, whether by merger, acquisition, distribution, exchange, stock split, acquisition of stock for treasury, or by a few different means. The document likewise required issuers to give a short description of the transaction which prompted the increase or decrease of shares outstanding.

The form was discontinued in 1997, with the last filing occurring on August 21 of that year.

Illustration of SEC Form 10-C Filing

For instance, a Form 10-C filed with the SEC in 1996 by the Steris Corporation documented an increase in the number of common shares issued by the company from 17,943,860 to 33,129,301, effective May 13, 1996.

Form 10-C was discontinued in 1997, with its last filing occurring on August 21 of that year.

Steris Corporation reported that the change in outstanding shares occurred due to a merger with AMSCO International, Inc., in which each share of AMSCO International common stock was exchanged for a share of Steris Corporation common stock, valued at $0.46 around then.

Form 10-C additionally required issuers to report any change in name, including their name prior to the change, their name after the change, and the effective date of the charter amendment used to change their name, as well as the date of shareholder endorsement of the name change, in the event that it was required. Steris didn't report a name change on its May 1996 Form 10-C.

Features

• This form was utilized any time there was a change in outstanding shares in excess of 5% or on the other hand in the event that there was a change for the sake of the issuer.
• The SEC Form 10-C was a form filed with the Securities and Exchange Commission (SEC) by companies whose securities were quoted on the NASDAQ interdealer quotation system.
• The requirement to file SEC Form 10-C was covered under Rule 13a-17 and 15d-17 of the Securities Exchange Act of 1934.