Yesterday was the 30th anniversary of
@SEC_Gov
's EDGAR. As much as it can frustrate me at times, it deserves to be celebrated for democratizing information flow to anyone willing to dig in! Happy birthday EDGAR.
Final bleary-eyed tally on
#fridaynightdump
disclosures related to $SIVB:
Total number of 8Ks filed after 4 pm: 245
Total that mention SIVB: 100
Three buckets of disclosure:
No impact: 68 companies
Some/limited impact: 25
Multi-million impact: 7
1/2
How much does it cost for a family to go to the
#SuperBowl
? If you're $DKNG CEO Jason Robins, the answer is $131K according to the proxy filed tonight.
#fridaynightdumo
It's not a Friday, but there's a lot of dumping going on at EDGAR today! More than 40 8Ks in under 20 minutes since markets closed! That's a lot of turkey!
Wow...talk about deflation! When $LBYTA bought Zulily in 2015, it paid $2.4 billion. Last year, it was sold to an investment firm for under $100m. Today, it sold again to $BYON for $4.5m!
Some interesting disclosures in $META proxy filed late today:
*$1.8m spent on one director's personal security
*$DASH CEO Tony Xu, another director, got $1.4m in stock
*$27m in "all other comp" for Zuck, whose "salary" remains at $1
$4.3m in private jet usage for Sheryl Sandberg
For all those romantics out there, remember that today is the busiest day of the year for SEC filings! I've counted more than 2,000 so far with more than 900 13Fs so far. The bulk will come in after 4 pm. Nothing says I love you like a juicy SEC filing!😍
Riffing on something
@nongaap
wrote earlier: $SIVB was required to disclose the departure of its Chief Risk Officer last April. Ditto for the new CRO it hired in December. Why it didn't is a mystery.
In first 10 minutes of
#fridaynightdump
there were 10 8-Ks filed by different companies saying they had no relationship with $SIVB. More on the way. Guess the total number to win a copy of my book.
Looking at all filings for today (not just
#fridaynightdump
) it looks like $SIVB was mentioned in 166 filings, based on quick
@AlphaSenseInc
search. A mixture of 10Ks and 8Ks. Also another 34 press releases.
Today is one of those rare/weird days where markets are closed, but the SEC remains open. That could result in some interesting filings later today.
#fridaynightdump
Think the
#fridaynightdump
isn't real? There were 229 8Ks filed in the 90 minutes after markets closed today for the 3-day weekend compared with 93 filed in the 10 hours prior.
#MemorialDayWeekend
Playing catch up on those crazy Form 4s filed by 3 Twitter execs late on Friday.
@chancery_daily
has been on this and it's worth reading his tweets. Seems as if the execs filed the Form 4s instead of $TWTR. Definitely more to this story!
Gaming
@SECGov
policies keeps investors in the dark for hours or days - from brilliant Michelle Leder of
@footnoted
.
Below 8-k filings (unexpected events) during day (blue) & night (green). Friday night often delays access until Monday.
Sign up at .
Took a break from SEC filings and got an early peak at the
#ParisOlympics
swimming/diving facility courtesy of some of the architects behind the project,
@VenhoevenCS
. Looks amazing!
@StockJabber
@RKrooton
@Crussian17
@AlderLaneEggs
@FriendlyBearSA
@AureliusValue
So the technical deadline was Feb. 29. There's an automatic 14-day extension, so that brings it to March 15. After that, they're not in compliance. It's pretty common for companies to say they will get their filing in within that 15-day extension, but $RILY didn't do that here.
Just a reminder that today at 5:30 EST is the 10-K filing deadline for large companies. So far, 46 10Ks have been filed. That will pick up dramatically come 4 pm. Guess the total number of 10-Ks filed by 5 pm today to win a signed copy of my book.
More on late 10-Ks: although the 10K deadline for large companies was Thursday, they had until Friday to disclose a late 10-K. There were 21 companies that did that on Friday and another 15 on Thursday. Taken together, that's a bigger number than normal.
Interesting piece on
#AI
and its ability to read SEC filings correctly. So much unstructured info in the filings that even after 20 years, I'm often surprised by what/where I find things.
Let the last
#fridaynightdump
of 2022 begin. Guess the final number of 8Ks filed between 4 and 5:30 today to win a free signed copy of my book. All guesses must be made by 5:15 pm EST to qualify.
Gotta love the
#mondaymorning
dump when companies file so late on a Friday that it isn't visible until Monday at 6 am. Take this 8-K filed by $GEN. A $1.5m award against the company morphs into a $53m one.
Missed this news last week with everything else going on, but
@EDGAR_Online
, the OG of SEC filings, was sold last week, undoubtedly for a lot less than RR Donnelly paid for them a decade ago.
An $18m fine for $JPM from
@SECGov
seems like a gentle tap on the pinky, given that they just reported quarterly revenue of nearly $40B and earnings of $12.1B.
@NonGaap
Just thinking this through a bit more: how do you find something that a company chose not to disclose? We may not know why they waited until the PRE 14A last Friday to disclose the CRO's departure last April, but it's hard to argue it was an accident. $SFIB
Looks like we're getting mixed up....again. I talk about SEC filings.
@footenoted
talks about football. I know nothing about football. How's your knowledge of filings, Jordan?
One of the interesting things about tonight's
#fridaynightdump
is that you're seeing disclosures for things that happened a week ago. SEC rules allow companies to wait 4 business days and with the July 4 holiday, today is the 4th day.
When a director resigns and includes a letter claiming problems with related-party transactions, it's like finding a rare white truffle. $WERN Read more here:
It's proxy season and
@Cigna
filed late Friday. The filing shows that the top 5 executives made $50m last year. Meanwhile, a recent
@KFF
study found that nearly half of all US adults worry about affording health care.
(2/2) My guess is that those companies that had a bigger impact spent much of today trying to get a handle on things, instead of rushing to file an 8-K. Those disclosures will probably hit middle of next week. $SIVB
$GOOGL filed its proxy late today and they spent $5.9m on Sundar Pichai's personal security which is about 1/4 of what $META spent on Zuck.
#fridaynightdump
Get those guesses in on total number of 10-Ks filed today (deadline day for large filers). Post your guess by 5 pm to win a signed copy of my book. So far, I count 191, so if you guessed earlier, feel free to revise.
Tried to find a pie to celebrate
#PiDay
here in Paris, only to realize after using my pigeon French at my 4th bakery that it isn't a thing here because today is 14.3, not 3.14.
Here's a fun little
#fridaynightdump
from $FOX: Viet Dinh, the company's chief legal and policy officer will get $23m in cash plus two years of consulting at $2.5m a year.
Not sure what's going on with EDGAR this morning, but it's not churning out filings yet. Should have started at 6 am, including filings that were snuck in late Friday.
Remember: the day after 10Ks are due, companies are required to file a separate document if they weren't able to get their 10Ks in on time. Here's that list with some interesting names on it $LMND, $MVIS, $RIOT among others: