🎓 Small Cap Academy
Learn to trade. Get better every day. Level up from Bronze to Master Trader.
Reading SEC Filings
Learn to navigate SEC filings to find the information that moves stocks.
Why Filings Matter
Public companies must file reports with the SEC. These filings reveal everything from financial health to insider transactions to upcoming risks. For small cap traders, certain filings can be immediate catalysts.
Key Filing Types
Form 10-K is the annual report — a full picture of the company's finances. Form 10-Q is the quarterly update. Form 8-K reports material events like mergers, acquisitions, or earnings. Form 4 reports insider buying and selling. S-1 and S-3 filings involve share registrations that could lead to dilution.
What to Look For
In 10-K and 10-Q filings, check the "Risk Factors" section, revenue trends, cash position, and debt. In 8-K filings, look for material events that could catalyze a move. In Form 4 filings, watch for clusters of insider buying.
The Dilution Warning
S-3 shelf registrations and ATM (at-the-market) offerings are red flags. They signal the company may issue new shares, diluting existing shareholders. Always check if a company has an active shelf before going long.
Key Takeaways
- Form 4 = insider transactions, 8-K = material events
- S-3 shelf registrations can signal future dilution
- Risk Factors section reveals company-specific dangers
Continue Your Education
Unlock 300+ lessons inside Small Cap Academy.