SEC Form PRER14A
What Is SEC Form PRER14A?
SEC Form PRER14A is a filing with the Securities and Exchange Commission (SEC) that must be recorded by or in the interest of a registrant when preliminary proxy materials are updated. Proxy materials are official documents that public corporations give to their shareholders so their shareholders can comprehend and choose how to vote at shareholder meetings.
How the SEC Form PRER14A Works
Form PRER14A is required under Section 14(a) of the Securities Exchange Act of 1934. This form is documented with the SEC when a reconsidered preliminary proxy statement is given to shareholders and assists the SEC with guaranteeing that shareholders' rights are upheld.
SEC Form PRER14A ought to furnish security holders with adequate information to permit them to make an informed vote at a forthcoming security holders' meeting or to approve a proxy to vote for their sake. It incorporates information about the:
- Date, time, and place of the meeting of security holders
- Revocability of proxy
- Dissident's right of appraisal
- People making the sales
- The direct or indirect interest of certain people in issues to be acted upon
- Modification or exchange of securities
- Financial statements
- Voting procedures
- Furthermore, different subtleties
The SEC keeps a full rundown of the latest PRER14A filings on its website, showing that it can receive somewhere in the range of 10 to at least 30 PRER14A filings in a given month. The SEC Form PRER14A is much of the time joined by SEC Form DEF 14A, which is known as the definitive proxy statement. The SEC Form DEF 14A is documented when shareholder votes are required.
Illustration of a SEC Form PRER14A
For instance, when Yahoo! recorded its PRER14A form to be amended as of Feb. 20, 2017, it indicated that shareholders would decide on a proposal to approve its sale to Verizon Communications. In the form, endorsed by then-CEO Marissa Mayer, there is a proxy statement illustrating a special meeting of stockholders to be held to examine the acquisition.
The document expresses: "The encased proxy statement furthermore demands stockholder endorsement of (I) on a non-restricting, advisory basis, executive compensation depicted in the encased proxy statement that might be paid or become payable because of the proposed sale transaction and (ii) the grant of authority to our Board of Directors to defer or adjourn the special meeting for up to 10 business days to request extra intermediaries to get stockholder endorsement of the sale transaction, assuming our Board of Directors decides sincerely that such delay or adjournment is vital or prudent to get stockholder endorsement of the sale transaction."
Features
- It ought to incorporate information about the date, time, and place of the meeting of security holders, the revocability of proxy, the nonconformist's right of appraisal, the direct or indirect interest of certain people in issues to be acted after, voting procedures, and that's only the tip of the iceberg.
- The SEC Form PRER14A is often joined by SEC Form DEF 14A, which is known as the definitive proxy statement.
- SEC Form PRER14A is a filing with the Securities and Exchange Commission (SEC) that must be recorded by or for a registrant when preliminary proxy materials are overhauled.
