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Schedule 13D is a form that must be filed with the U.S. Securities and Exchange Commission (SEC) when a person or group acquires more than 5% of a voting class of a company's equity shares. Schedule 13D must be filed within 10 days of the filer reaching a 5% stake.
A person or group of persons that acquires beneficial ownership of more than 5% of a covered class of equity securities must report that acquisition on an initial Schedule 13D.
Hear this out loud PauseUnder the prior rule, new 13D filers, including those who previously filed a Schedule 13G, were required to file their initial Schedule 13D within 10 days after acquiring beneficial ownership of greater than 5% of a covered class of equity securities or losing 13G eligibility.
Hear this out loud PauseSchedule 13D reports the acquisition and other information within 10 days after the purchase. The schedule is filed with the SEC and is provided to the company that issued the securities and each exchange where the security is traded.
Hear this out loud PauseForm 13Ds are similar to 13Fs but are more stringent; an investor with a large stake in a company must report all changes in that position within just 10 days of any action, meaning that it's much easier for outsiders to see what's happening much closer to real time than in the case of a 13F.
Hear this out loud PauseSchedule 13G is a shorter version of Schedule 13D with fewer reporting requirements. Schedule 13G can be filed in lieu of the SEC Schedule 13D form as long as the filer meets one of several exemptions.