In addition to filing annual reports on Form 10-K and quarterly reports on Form 10-Q, public companies must report certain material corporate events on a more current basis. Form 8-K is the “current report” companies must file with the SEC to announce major events that shareholders should know about.
The instructions for Form 8-K describe the types of events that trigger a public company's obligation to file a current report, including any of the following :
Section 1 Registrant's Business and Operations Item 1.01 Entry into a Material Definitive Agreement Item 1.02 Termination of a Material Definitive Agreement Companies have four business days to file a Form 8-K for the events specified in the items in Sections 1-6 and 9 above.
The Problem: FAILURE by a CEO in PENNYLAND, is not only an Acceptable Practice, it REWARDS a CEO... It's much EASIER for CEO to make money selling Company shares, than Build a Company.
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