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Schedule 13D
Filings & Insiders
The filing an investor makes with the SEC after acquiring more than 5% of a company's voting shares.
It states who bought how much, where the money came from and what the investor intends, for example whether they plan to push for changes at the company, and it must be amended when material facts change. Passive investors with no intent to influence the company can, under certain conditions, file the shorter Schedule 13G instead. That is why a 13D is watched as the moment an activist investor steps onto the stage.
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