What is a '10-K Wrap'

A 10-K wrap is a summary report of a company's annual performance that bundles the 10-K report required by the Securities and Exchange Commission (SEC) with additional commentary from the company, covering such things as the corporate vision, letter to shareholders and business overview, among other topics. The 10-K wrap is often released instead of a traditional annual report and generally contains fewer images and comments from management.

BREAKING DOWN '10-K Wrap'

The biggest difference between the traditional annual report and the 10-K wrap is the way in which the information is presented and how much additional information is included above the required 10-K information. The traditional annual report has a greater focus on comments from the company, and the document includes more images and graphs to communicate performance and corporate objective.

By contrast, the 10-K wrap is essentially the 10-K filed with the SEC along with some additional editorial from the company — but not nearly as much as the annual report. It usually has a lower production cost because it is often printed on lower-quality paper.

Elements of a 10-K Wrap

The basic elements of a 10-K wrap typically include a summary of the company’s financial results for the previous year, and a summary of its plans for upcoming quarters, including spending and debt level forecasts. A 10-K plan can also include an elaborate cover design, with perhaps a theme that focuses investors and analysts on the company’s plans for the upcoming year.

Graphics in the 10-K wrap will usually provide a brief overview of the company’s financials, including revenue, net profit, costs, income and any highlights from the previous year. The graphics may also outline the company’s geographical reach or other elements of growth.

As the 10-K wrap has evolved, it has come to include more images and content, such as a shareholder letter and high-quality photographs. However, the use of photographs will often be kept to a minimum, as the 10-K wrap document is usually no more than four pages long, and may be shorter. The 10-K wrap is typically made available in print and digital formats to maximize access for shareholders, investors and analysts.

RELATED TERMS
  1. Mutual Fund Wrap

    A mutual fund wrap is a personal wealth management service that ...
  2. Annual

    The term "annual" refers to an event that occurs once a year.
  3. SEC Form ARS

    SEC Form ARS is the principal document public companies use to ...
  4. SEC Form 10-KT

    SEC Form 10-KT is a transition report filed in lieu of a standard ...
  5. SEC Form 10-KSB

    SEC Form 10-KSB was a filing with the Securities and Exchange ...
  6. SEC Form 497

    SEC Form 497 is a document that investment companies must use ...
Related Articles
  1. Investing

    Read Form 10-K to Help You Pick Better Stocks

    Find out how breaking down Form 10-K can help you pick better stocks. Learn to analyze this valuable source of a company's annual financial information.
  2. Investing

    How To Efficiently Read An Annual Report

    Learn how to read between the lines and decipher the actual condition of a company.
  3. Investing

    Understanding The Top SEC filing forms

    It's easier than ever to keep track of your SEC filing status online.
  4. Investing

    Wrap It Up: Terms and Benefits of Managed Money

    Read here to find out if you should have your money managed by professionals.
  5. Investing

    SEC Filings: Forms You Need To Know

    The forms companies are required to file provide a clear view of their histories and progress.
  6. Investing

    Speed-Read SEC Filings for Hot Stock Picks

    SEC filings can be a headache. Read out how to speed-read through your stock research.
  7. Managing Wealth

    Litigation: Are Your Investments At Risk?

    Don't let company lawsuits hit you unprepared. Learn how to uncover how they might affect you.
  8. Investing

    6 Things To Look For In Earnings Reports

    Learn how to consider all the known variables when assessing a company's health.
  9. Investing

    Even a 15% Tax Rate May Not Help Pharmaceuticals

    Will a lower corporate tax rate help bring more profit to the industry? They may already be doing it on their own.
RELATED FAQS
  1. What are the differences between a 10-K report and a firm's own annual report?

    Understand the key differences between a corporation's own annual report and its 10-K report filed with the SEC and how investors ... Read Answer >>
  2. How do I access a company's earnings report?

    Find out how to access the quarterly and annual earnings reports for publicly traded companies, and how to listen in to company ... Read Answer >>
  3. When does Q4 start and finish?

    Learn about different financial years used by various companies. Explore when the fourth quarter begins on October 1st and ... Read Answer >>
  4. Where can I find fiscal year data for publicly traded corporations?

    Access fiscal year data for publicly traded corporations that is required by the government to be readily available to the ... Read Answer >>
  5. What is a quarterly report?

    Learn about quarterly reports and why they are important to investors. Explore street consensus estimates and how reported ... Read Answer >>
Trading Center