Any Shareholder Owning More Than Five (5) Percent of Any

question 22

True/False

Any shareholder owning more than five (5) percent of any class of the corporation's equity securities is statutorily defined as an insider and must file with the SEC a disclosure statement regarding such ownership and all related transactions.

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Definitions:

Regulatory Flexibility Analysis

An evaluation required by law for some new regulations, assessing the impact of the regulation on small entities.

Significant Impact

A considerable effect on something, particularly relating to decisions or actions that greatly affect a company, environment, or policy.

Small Businesses

Enterprises characterized by a small number of employees or low revenue, playing a significant role in economic development and innovation.

Executive Agency

A government department or unit responsible for the execution of laws and policies, typically led by a non-elected official appointed by the government.