Form 10-Q

Also known as: 10-Q, Quarterly Report
The SEC quarterly report public companies must file within 40-45 days of quarter-end. Includes the issuer-purchase table that discloses month-by-month repurchase execution under Rule 10b-18.

Full definition

Form 10-Q is the quarterly report public companies file with the SEC within 40-45 days of each fiscal quarter-end (the exact deadline depends on filer status). The 10-Q includes unaudited financial statements, management discussion and analysis (MD&A), and a series of mandatory exhibits and disclosures.

For repurchase tracking, the relevant section is the issuer-purchase table required under Item 703 of Regulation S-K. The table is broken out by month for the quarter and discloses:

The remaining-authorization figure is the most actionable number for repurchase investors: it shows how much "dry powder" the issuer still has to deploy under existing board approval, and how aggressively the company has been executing relative to its public commitment.

Key facts

Statutory basisSecurities Exchange Act of 1934
Filing deadline40 days from quarter-end (large accelerated filers)
Repurchase sectionIssuer-purchase table per Item 703 Reg S-K
Disclosure cadenceQuarterly

Frequently asked questions

What is Form 10-Q?
Form 10-Q is the SEC quarterly report public companies file within 40-45 days of each quarter-end, including unaudited financials and the issuer-purchase table disclosing repurchase execution.
Where is repurchase data in a 10-Q?
Repurchase activity appears in the issuer-purchase table under Item 703 of Regulation S-K, in the same section as the unregistered sales of equity securities disclosure (Part II, Item 2).
How quickly is repurchase activity disclosed in 10-Q?
The 10-Q discloses repurchase activity that occurred during the just-completed fiscal quarter. So a January-March quarter is disclosed by early-to-mid May.
What does 'maximum dollar value remaining' mean?
It's the cap on additional repurchases the issuer is currently authorized to make under publicly announced programs — board-approved 'dry powder' for future repurchase activity.

Related terms

Form 8-KA current-event SEC report public companies must file within four business days of material corporate events, including the announcement of a new share-repurchase authorization. Rule 10b-18An SEC safe harbor that protects issuers from market manipulation liability when they buy back their own stock under four conditions: single broker, time-of-day restrictions, price limits, and volume caps. Share RepurchaseA capital-allocation action in which a public company uses its cash to buy back its own shares from the open market or via tender offer, reducing total shares outstanding and returning capital to remaining shareholders. Repurchase AuthorizationA board-of-directors resolution authorizing management to repurchase up to a specified dollar value or share count of the company's own stock over a defined or open-ended period.