1.4.3.2. Annual Reports: Form 10-K
Every publicly traded company must file an annual report with the SEC on Form 10-K. The 10-K is the most detailed mandatory filing, and is the primary go-to document for information about a company’s finances and operations. The 10-K contains audited annual financial statements, and includes detailed information about the company’s business, including its operations, products and services offered, major markets, and primary competitors. It discloses the largest shareholders—shareholders that own more than 5% of the company—and also lists the company’s outstanding shares and provides information about options and warrants.
The 10-K also includes a section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations