Are you an accelerated filer? And why should you care?
The type of filer you are basically refers to when your Form 10-K and Form 10-Q deadlines are, which is the SEC’s way of taking a peek at your company and seeing how it’s doing in the form of a handy report that you have to file. Fun right?
If you’re an accelerated filer, your company meets all of the following conditions at the end of the year:
The public float, or amount of your company’s stock that’s in public hands, is between $75 million and $700 million. That sounds like a lot.
Your company is already required by Section 13(a) or 15(d) of the Exchange Act to file reports for at least 12 calendar months.
Your company has filed at least one annual report in Section 13(a) or 15(d) of the Exchange Act.
If $700 million sounds too small fry for you, then you just might be a “large accelerated filer” As its name suggests, this applies to even larger companies with a public float of common of more than $700 million.
Sound like you? If you’re just starting out or have just gone public, it’s probably not.
So if you’re not an accelerated filer or a larger accelerated filer, what does that make you? Chopped liver? No, of course not. It simply means you’re a non-accelerated filer and that’s perfectly OK too.
How to use Accelerated Filer in a sentence and sound smart:
I used to be a small fry non-accelerated filer but now, I’m moving on up and I’m a hot shot accelerated filer now. My mom will be so proud.