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We provide service aimed to simplify the process of section 16 filings.
Our company guarantees the highest level of data security. The solution we offer allows shareholders, executives, law firms, and administrators easy setting up, validation, filling the section submission, and mongering of the Section 16 documentation.
The service is available from any type of digital device with access to a web browser.
Sec section 16 filings do not take much affords as long as our service provides:
— Inspection of the EDGAR conformity. We immediately inform our clients if the filling of the section is not compliant to the EDGAR standards;
— Profound footnotes management — adjusting, edition, deleting and recomposing of footnotes are very light;
— Operating with EDGAR forms 3, 4, 5 and submit them directly to the SEC;
— The function of autocompleting for Forms with Reporting Owner and Issuer profile information;
— Testing or live filing right to SEC.
This block regulates section 16 insiders’ obligations.
Section 16 requirements define that company insiders should fill the electronic Forms 3, 4, and 5.
Section 16 form 3 should be submitted as a statement about primary beneficial ownership when it is a primary public offering of shares or debt security. It is also obligatory in case if he or she gets a CEO position, becomes an official, or owner of 10% of the firm.
Form 4 determines the necessity to inform about any significant transformations of the company’s insider funds.
And finally, Form 5 should be submitted by an insider conducting the equity deal during the year unless it has already been submitted in Form 4.
It is a modern high-tech system of filling the obligatory reporting forms established by EDGAR under national laws. We have been improving and developing our service in accordance with users' wishes and recommendations. We monitor the appearance of technological solution and implement them for our clients’ benefits.
Our Edgar Service allows simplifying the cumbersome procedure of SEC proprietorship filings. We suggest an efficient time-saving, easy-deal solution with a friendly interface for accomplishing reports.
You can use drafts and templates, recompose documents without new re-entering. All repeated data, like issuer information or reporting owner, is stored and used automatically in new documents.
Section 16 form 3 is to be submitted for 10 days since the date when a director or officer starts working at the new position. But in any case, this submission should be accomplished till the registration declaration for an IPO corporation, that registering stock under Section 12 of the Exchange Act for the first time, comes in force. This filing presents a quantity of the corporation's capital and the way the person held it precisely on the day when he or she was assuming a new position or the IPO. Moreover, it is submitted during ten days after a stock share of any class of the corporation's registered equity securities became over 10%.
Section 16 form 4 is obligatory for introducing data about transformation in ownership of the corporation's stock.
This filing should be done until the end of the coming working day that follows the day when the correspondent bargain was done.
The firm is supposed to inform about each alteration of proprietorship mentioning the code of the transaction. It is obligatory even if getting hold of a stake and dealing have not led to any net alteration in the balance of holders during the reported month.
Take a notion
If you hesitate whether this or that holiday is qualified as an official working day — please inspect the calendar of the federal government. Section 16 filling as well all other sections’ fillings are not received by the EDGAR system on official holidays.
The usage of Form 5 of Section 16 has been lately altered but there still left some data to be filled. You can revise it in the Application Requirements section.
The Securities Exchange Act of 1934 (SEA) that includes Section 16 as a part of rule articulating and regulating liabilities of directors, officers, and principal stockholders to submit the scope of determined data. The Securities and Exchange Act of 1934 is a law regulating the secondary trading securities in the USA.
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