Schedule 13D also commonly referred to as a “beneficial ownership report”. The term “beneficial owner” is defined under SEC rules. It includes any person who directly or indirectly shares voting power or investment power. When a person or group of persons acquires beneficial ownership of more than 5% of a voting class of a company’s equity securities registered under Section 12 of the Securities Exchange Act of 1934, they are required to file a Schedule 13D with the SEC.
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