Form 10-K is a Securities and Exchange Commission (SEC) periodic report that public companies file to disclose the material results of their business operation for their past fiscal year.
The Form 10-K provides a comprehensive overview of the company’s condition and includes audited financial statements. Form 10-Ks contain four parts:
- Part 1 provides a summary of the business’ operations, the company’s risk factors, the significant properties that the company holds, and any material legal proceedings that the company is involved in.
- Part 2 provides a summary of how the company’s stock performed, consolidated financial data, management’s discussion and analysis (MD&A) of the company’s financial condition and results of operations, quantitative and qualitative disclosures about market risks, audited financial statements, and internal controls and procedures.
- Part 3 provides information about the company’s directors, executive officers, corporate governance, executive compensation, beneficial ownership of stock by management, and certain relationships, related transactions, and director independence.
- Part 4 includes the financial statement schedule signatures and allows the company to include any material exhibits.
For more illustrations, see the SEC Form 10-K General Instructions and a recent example of Apple Inc.’s 2021 Form 10-K.
[Last updated in January of 2022 by the Wex Definitions Team]