What is Schedule 14C
Schedule 14C sets forth certain disclosure requirements for companies with securities registered with the Securities and Exchange Commission.
BREAKING DOWN Schedule 14C
Companies with securities registered with the SEC are required to comply with Section 14 of the Securities Exchange Act of 1934. Section 14 describes proxy rules concerning disclosures required in any materials that solicit shareholder votes at annual meetings. These required disclosures are described in Schedule 14A.
Schedule 14A is intended to ensure that proxy statements provided to shareholders contain the information necessary for them to vote in an informed manner. These votes occur at either the traditional annual shareholders meeting or a specially called shareholders meeting.
But sometimes shareholder approval is not required at a meeting and has already been obtained in writing. In this case, a company may satisfy the disclosure requirements of Section 14 by disclosing the information described in Schedule 14C.