13D vs 13G
Both signal a 5%+ stake; 13D requires intent to influence, 13G is passive.
Definition
Schedule 13D and 13G both apply when an entity acquires beneficial ownership of more than 5% of a class of voting securities. The difference is intent: 13D is for active filers who intend to influence the issuer's control or operations; 13G is for passive holders.
13D filers must file within 5 business days of crossing the threshold and amend within 2 business days of any material change. 13G filers have longer windows. A switch from 13G to 13D is a meaningful signal of intent.
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