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A company has been a publicly traded company since 2001. Only 14% of the available stock is sold to the public and traded on the NYSE. The founding family retains control of 86% of the company. The audit committee consists of a CPA, an investment advisor, and two family members. In 2013, the CFO and CEO decided to change the director's code of conduct due to fraud attempts by one of the vice presidents. The vice president is still employed by the company as the stolen check stock was returned. What form is legally required to be filed by the company due to the code of conduct change?
Suggested Answer: D
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26 comments · newest first
VI
Vivan
1 month ago
No, 10-K is for annual. 8-K is for immediate changes.
HE
Heike
1 month ago
I’m leaning towards 10-K. It covers annual reports, right?
KA
Katlyn
2 months ago
Agreed, 8-K makes sense. It's about significant events.
CO
Cory
2 months ago
I think it's an 8-K. Major changes need to be reported.
LA
Lajuana
2 months ago
But the 10-K is for yearly info, not immediate changes like this.
EL
Elli
2 months ago
Not so sure. What about C) 10-K? It covers annual reports.
GE
Gerald
2 months ago
Agreed! The code change is a major event.
PE
Pearline
2 months ago
I think it's A) 8-K. It's for significant events.
AL
Alyce
3 months ago
But the code change is urgent! 8-K fits better.
KA
Kati
3 months ago
Not so sure. What about C) 10-K? It's annual.
SA
Sarah
3 months ago
Agreed! Major changes need to be reported.
LA
Laurena
3 months ago
I think it's A) 8-K. It's for significant events.
FR
Francoise
3 months ago
Not sure if the 8-K is enough for such a serious issue.
NA
Nana
4 months ago
10-K is for annual reports, not this situation.
ID
Idella
5 months ago
Wait, the VP is still employed? That's surprising!
SK
Skye
5 months ago
I agree, 8-K makes sense here.
NG
Ngoc
5 months ago
Definitely an 8-K filing needed for that code change.
LU
Luther
6 months ago
10-K would be too late for this kind of update, right?
DE
Deeanna
6 months ago
Not sure if an 8-K is enough for such a serious issue.
MA
Margarett
6 months ago
Wait, the VP is still employed? That’s surprising!
EL
Ellsworth
6 months ago
I agree, 8-K makes sense here.
SL
Slyvia
6 months ago
Definitely an 8-K filing needed for that code of conduct change.
EL
Eliz
6 months ago
I feel like the 8300 is about cash transactions over $10,000, so that doesn't seem right. I lean towards 8-K too, but I'm not completely confident.
GL
Glynda
7 months ago
I practiced a similar question where a company had to report a significant event, and I think it was definitely an 8-K.
JA
Jaime
7 months ago
I'm not entirely sure, but I remember something about 10-K being more about annual reports. Could it be 10-Q instead?
AI
Aimee
7 months ago
I think the answer might be 8-K since it relates to significant events that shareholders should know about, like changes in the code of conduct.