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Triggering Events for Form 8-K

Prepared by the public companies group

1 Registrant’s Business and Operations

Item 1.01 Entry into a material definitive agreement

Event Registrant enters into a material definitive agreement not made in the ordinary course of business or into an amendment of such agreement that is material to registrant; see Reg S-K Item 601(b)(10) (excluding (iii)(A) and (B), management or compensatory agreements or arrangements, which, as to the principal executive officer, principal financial officer or other named executive officers, are covered under Item 5.02)

Filing period Within 4 business days

S-3 impact No impact

Item 1.02 Termination of a material definitive agreement

Event A material definitive agreement not made in the ordinary course of business of registrant terminates (other than by expiration on a stated termination date, or the completion of all parties’ obligations) where such termination is material to registrant; see Reg S-K Item 601(b)(10) (excluding (iii)(A) and (B), management or compensatory agreements or arrangements, which, as to the principal executive officer, principal financial officer or other named executive officers, are now covered under Item 5.02)

Filing period Within 4 business days of termination, or notice of termination pursuant to the terms of the agreement

S-3 impact No impact

Item 1.03 Bankruptcy or receivership

Event Appointment of a receiver, fiscal agent or similar officer for registrant or its parent in a bankruptcy proceeding (federal or state)

Entry of an order confirming a plan of reorganization, arrangement or liquidation relating to registrant’s or its parent’s assets or business by a court or governmental authority

Filing period Within 4 business days

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

Item 1.04 Mine safety: reporting of shutdowns and patterns of violations

Event If the registrant or a subsidiary receives, with respect to a coal or other mine (“Mine”) of which the registrant or subsidiary is an operator:

  • an imminent danger order issued under Section 107(a) of the Federal Mine Safety and Health Act of 1977 (“Mine Safety Act”);
  • a written notice from the Mine Safety and Health Administration (“MSHA”) that the Mine has a pattern of violations of mandatory health or safety standards that are of such nature as could have significantly and substantially contributed to the cause and effect of mine health or safety hazards under Section 104(e) of the Mine Safety Act; or
  • a written notice from the MSHA that the Mine has the potential to have such a pattern

Filing period Within 4 business days

S-3 impact No impact

2 Financial Information

Item 2.01 Completion of acquisition or disposition of assets

Event Registrant or a subsidiary consolidated completes an acquisition or disposition of a “significant amount of assets” (otherwise than in the ordinary course of business), or a "significant amount of assets" that constitute a real estate operation as defined in Regulation S-X

Filing period Within 4 business days

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

Instruction “Significant amount of assets” is involved if:

  • the equity in the net book value of assets or the amount paid or received for the assets upon acquisition or disposition exceeded 10% of the total assets of registrant and its consolidated subsidiaries, or
  • it involved a business that is significant to registrant or a majority-owned subsidiary (encompasses acquisition of an interest in a business accounted for by the equity method or, in lieu of that method, the fair value option), or
  • for business development companies, if the amount paid for the assets exceeded 10% of the total investments of the registrant and its consolidated subsidiaries

The terms “business” and “significant” are defined in Regulation S-X

Item 2.02 Results of operations and financial condition*

Event Registrant (or person acting on its behalf) publicly announces or releases material non-public information regarding registrant’s results of operations or financial condition for a completed quarterly or annual fiscal period

Furnishing period Within 4 business days; must be furnished before an oral or telephonic broadcast or webcast complementary to information in Form 8-K for registrant and occurring within 48 hours of the furnishing of the Form 8-K that was announced by a widely disseminated press release and is broadly accessible to the public to avoid having to furnish an additional Form 8-K for such complementary oral or telephonic broadcast or webcast

S-3 impact No impact

Item 2.03 Creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant

Event Registrant becomes obligated on a direct financial obligation that is material to it

Registrant becomes directly or contingently liable for an obligation that is material to it arising out of an off-balance sheet arrangement

Filing period Within 4 business days

No filing requirement for obligations that are registered securities if described in a prospectus timely filed under Rule 424

Registrant may delay filing if neither it nor an affiliate is a party to the transaction or agreement creating the contingent obligation giving rise to the off-balance sheet arrangement until the earlier of (i) the fourth business day after the contingent obligation is created or arises and (ii) the day an executive officer becomes aware of the contingent obligation

S-3 impact No impact

Instruction A material facility, program or similar arrangement requires disclosure upon

  • entry into such facility if such entry is material to registrant
  • as obligations arise under the facility that are material to registrant
  • as obligations that arise under the facility that are immaterial individually become material in the aggregate to registrant

Item 2.04 Triggering events that accelerate or increase a direct financial obligation or an obligation under an off-balance sheet arrangement

Event Occurrence of a triggering event causing an increase or acceleration of a direct financial obligation, the consequences of which are material to registrant

Occurrence of a triggering event causing an obligation of the registrant under an off-balance sheet arrangement to increase or be accelerated, or causing a contingent obligation of the registrant under an off-balance sheet arrangement to become a direct financial obligation of the registrant (including an accrual for probable loss under FASB ASC Topic 450), the consequences of which are material to registrant

Filing period Within 4 business days

S-3 impact No impact

Item 2.05 Costs associated with exit or disposal activities

Event If registrant’s board of directors, a board committee or an authorized officer, if board action is not required, commits registrant to an exit or disposal plan, or otherwise disposes of a long-lived asset or terminates employees under a plan of termination described in FASB ASC Topic 420, under which material charges will be incurred under GAAP

Filing period Within 4 business days

Registrant may delay filing if it is terminating employees as part of a plan to exit an activity, until it has informed affected employees

S-3 impact No impact

Item 2.06 Material impairments

Event If registrant’s board of directors, a board committee or an authorized officer, if board action is not required, concludes that a material charge for impairment to one or more assets (including impairments of securities or goodwill) is required under GAAP

Filing period Within 4 business days

No filing is required if the impairment determination is made in connection with the preparation, review or audit of financial statements at the end of the period and is disclosed in the timely-filed periodic report for that period

S-3 impact No impact

3 Securities and Trading Markets

Item 3.01 Notice of delisting or failure to satisfy a continued listing rule or standard; transfer of listing

Event Registrant receives notice from its principal national securities exchange or national securities association that:

  • registrant or a class of registrant’s securities does not satisfy a rule or standard for continued listing,
  • the exchange submitted an application to the SEC to delist registrant’s securities, or
  • the association has taken all necessary steps under its rules to delist the security from its automated inter-dealer quotation system

Registrant notifies its principal exchange or association that it is aware of a material noncompliance with a rule or standard for continued listing

Registrant’s principal exchange or association issues a public reprimand letter or similar communication indicating that registrant violated a rule or standard for continued listing

Registrant’s board of directors, a board committee or an authorized officer, if board action is not required, takes definitive action to cause the listing of a class of its common equity to be withdrawn from registrant’s principal exchange or terminated from the automated inter-dealer quotation system of the registrant's principal association, including by reason of a transfer of the listing or quotation to another securities exchange or quotation system

Filing period Within 4 business days

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

Item 3.02 Unregistered sales of equity securities

Event Registrant sells its equity securities in a transaction that is not registered under the Securities Act, including through conversions and similar transactions that equal or exceed, in the aggregate, 1% (or 5%, if registrant is a smaller reporting company) of outstanding shares

Filing period Within 4 business days of the entry into an enforceable agreement, or, if no agreement, after closing or settlement

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

Item 3.03 Material modification to rights of security holders

Event Registrant’s constituent instruments defining the rights of the holders of any class of registered securities are materially modified

The rights evidenced by any class of registered securities are materially limited or qualified by the issuance or modification of any other class of securities by registrant

Filing period Within 4 business days

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

4 Matters Related to Accountants and Financial Statements

Item 4.01 Changes in registrant’s certifying accountant**

Event Registrant’s principal accountant, or independent accountant upon whom the principal accountant expressed reliance in its report regarding a significant subsidiary, resigns, is dismissed or declines to stand for re-appointment after completion of the current audit

Registrant engages a new independent accountant as either its principal accountant or as an independent accountant on whom the principal accountant is expected to express reliance in such accountant’s report regarding a significant subsidiary

Filing period Within 4 business days

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

Item 4.02 Non-Reliance on previously issued financial statements or a related audit report or completed interim review**

Event

  • Registrant’s board of directors, a board committee or an authorized officer, if board action is not required, concludes that any previously issued annual or interim financial statements should no longer be relied upon because of an error as addressed in FASB ASC Topic 250
  • Registrant is advised by, or receives notice from, its independent accountant that disclosure should be made or action should be taken to prevent future reliance on a previously issued audit report or completed interim review related to previously issued financial statements

Filing period Within 4 business days

For disclosures required under the non-italicized bullet, the registrant must amend its previously filed Form 8-K by filing the independent accountant's letter as an exhibit no later than 2 business days after registrant's receipt of the letter

S-3 impact Yes. Failure to timely file will impact S-3 eligibility unless report relates only to matter described in the italicized bullet

5 Corporate Governance and Management

Item 5.01 Changes in control of registrant

Event Registrant’s board of directors, a board committee or an authorized officer knows that a change in control of registrant has occurred

Filing period Within 4 business days

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

Item 5.02 Departure of directors or certain officers; election of directors; appointment of certain officers; compensatory arrangements of certain officers

Event

Directors

  • A director resigns or refuses to stand for re-election because of a disagreement with registrant known to an executive officer, on any matter relating to registrant's operations, policies or practices, or is removed for cause
  • A director retires, resigns, refuses to stand for re-election or is removed
  • A new director is elected, except by a vote of security holders at an annual meeting or special meeting convened for that purpose

Officers

  • A principal executive officer, president, principal financial officer, principal accounting officer, principal operating officer or any person performing similar functions or any named executive officer retires, resigns or is terminated from that position
  • A new principal executive officer, president, principal financial officer, principal accounting officer, principal operating officer or person performing similar functions is appointed
  • Registrant enters into, adopts, or otherwise commences a material compensatory plan, contract or arrangement (whether written or unwritten) in which registrant’s principal executive officer, principal financial officer or other named executive officer participates or is a party, or any material amendment or modification to the material compensatory plan, contract or arrangement
  • Registrant makes or materially modifies a material grant or award under a plan, contract or arrangement to its principal executive officer, principal financial officer or other named executive officer (unless materially consistent with previously disclosed terms of such plan or arrangement and disclosure is made in registrant’s next SEC filing requiring compensation information under Reg S-K Item 402)
  • Registrant makes a payment, grant, award or other decision, or another event occurs, that makes the amount of salary or bonus of a named executive officer calculable (in whole or in part) when such amount was previously not calculable and therefore omitted from registrant’s Summary Compensation Table

Filing period Within 4 business days

Filing regarding officer appointment may be delayed until registrant’s first public announcement regarding the appointment, if the announcement will be other than by Form 8-K

For disclosures relating to directors under the first bullet above, registrant must amend previously filed Form 8-K by filing director's letter (if any) as an exhibit no later than 2 business days after registrant's receipt of the letter

S-3 impact Yes. Failure to timely file will impact S-3 eligibility unless report relates only to matters described in the italicized bullets

Item 5.03 Amendments to articles of incorporation or bylaws; change in fiscal year

Event Registrant amends its articles of incorporation or bylaws and a proposal for the amendment was not disclosed in a proxy statement or information statement filed by it

Registrant determines to change its fiscal year from that used in its most recent SEC filing other than by means of:

  • a submission to a vote of security holders through the solicitation of proxies or otherwise, or
  • an amendment to its articles of incorporation or bylaws

Filing period Within 4 business days

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

Item 5.04 Temporary suspension of trading under registrant’s employee benefit plans

Event Registrant receives notice of the commencement of a blackout period under a company pension plan required by Section 101(i)(2)(E) of ERISA, or, if no receipt of notice, transmission by registrant of a timely notice to an affected officer or director under Rule 104 of Regulation BTR

Registrant transmits a timely updated notice to an affected officer or director pursuant to Rule 104(b) of Regulation BTR

Filing period Within 4 business days after the receipt of notice by registrant, or on the same date that registrant transmits a timely initial or updated notice pursuant to Rule 104(b)(2)(iii) of Regulation BTR

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

Item 5.05 Amendments to the registrant’s code of ethics, or waiver of a provision of the code of ethics

Event Registrant amends (other than technical, administrative or non-substantive amendments), or grants a waiver (including an implicit waiver) of a provision of its code of ethics identified in Reg S-K Item 406(b) that is applicable to its principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions, unless registrant discloses such amendment or waiver on its Internet website as previously indicated in its most recent annual report (including the intention to provide disclosure in this manner)

Filing period Within 4 business days

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

Item 5.06 Change in shell company status

Event Registrant completes a transaction (if it is a shell company other than a business combination related shell company) that causes it to cease being a shell company

Filing period Within 4 business days

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

Item 5.07 Submission of matters to a vote of security holders

Event The results of a vote of registrant’s security holders on any matter

Registrant’s decision regarding the frequency of shareholder votes on compensation of its executives

Filing period Initial Form 8-K with preliminary (or final, if available) voting results due within 4 business days after the end of the meeting

Amended Form 8-K due within 4 business days after final voting results are known (if not reported in the initial Form 8-K)

Amended Form 8-K regarding the frequency of shareholder votes due no later than 150 calendar days after the end of the shareholder meeting, but no later than 60 days prior to the deadline for submission of shareholder proposals under Rule 14a-8, as disclosed in the registrant’s most recent proxy statement

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

Item 5.08 Shareholder director nominations

Event If the registrant did not hold an annual meeting in the previous year or if the date of this year’s annual meeting has changed by more than 30 calendar days from the date of the previous year’s meeting and the registrant is required to include shareholder nominees in its proxy materials due to state or foreign law, or the registrant’s governing documents, the determination of the date by which a nominating shareholder or nominating shareholder group must submit a notice on Schedule 14N pursuant to Exchange Act Rule 14a-18

Filing period Within 4 business days after the registrant determines the anticipated meeting date

Comment Less than 100 Form 8-K’s were filed under Item 5.08 in 2021

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

6 Asset-Backed Securities

(The items under section 6 apply only to asset-backed securities)

Filing period Within 4 business days

S-3 impact Yes. Failure to timely file will impact S-3 eligibility

7 Regulation FD

Item 7.01 Regulation FD Disclosure*

Event Registrant elects to disclose information through Form 8-K pursuant to Regulation FD that is not disclosed under Item 8.01

Furnishing period Simultaneously, in the case of an intentional disclosure, and promptly, in the case of a non-intentional disclosure (see Rule 100 of Regulation FD)

S-3 impact No impact

8 Other Events

Item 8.01 Other events

Event Registrant elects to disclose any event, with respect to which information is not otherwise required by Form 8-K, that it deems of importance to security holders, including the non-public information required to be disclosed by Regulation FD

Filing period If solely satisfying obligations under Regulation FD, simultaneously, in the case of an intentional disclosure, and promptly, in the case of a non-intentional disclosure (see Rule 100 of Regulation FD); if other events, at the discretion of registrant

S-3 impact No impact

9 Financial Statements and Exhibits

Item 9.01 Financial statements and exhibits

Event Financial statements of businesses or funds acquired

Pro forma financial information

Shell company transactions

Exhibits

Filing period For business acquisitions and pro forma financial information relative to acquired businesses (other than in shell company transactions), not later than 71 calendar days from the date the initial Form 8-K was required to be filed



This guide was last revised February 2022

Notes

* Information provided in this item is deemed to be "furnished" and therefore not "filed" for purposes of Section 18 of the Exchange Act.

** Generally, a registrant may provide the information required by an item of Form 8-K in the item entitled "Other Events" in a Form 10-K or Form 10-Q, provided that such Form 10-K or Form 10-Q is filed within four business days of the triggering event that would otherwise require the filing of a Form 8-K; however, the SEC takes the position that this item must be reported on a Form 8-K within four business days of the triggering event even if also reported in a Form 10-K or Form 10-Q within four business days of the triggering event.

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