SEC Form 10-K405

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DEFINITION of 'SEC Form 10-K405'

A form used by the Securities and Exchange Commission (SEC) prior to 2003. SEC Form 10-K405 was used to indicate that an officer or director of a company failed to file a Form 4 (or similar Form 3 or Form 5) on time, meaning that they did not disclose their insider trading activities within the required time frame.

INVESTOPEDIA EXPLAINS 'SEC Form 10-K405'

Guidelines for reporting insider trading activity is covered under Section 16 of the Securities Exchange Act. Form 10-K405 was eliminated after it was determined that the use of the form by companies was inconsistent and unreliable. The form is no longer accepted by the EDGAR system.

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    An "insider" is any person who possesses at least one of the following: 1) access to valuable non-public information about ... Read Full Answer >>
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