SEC Proposes Optional Semiannual Reporting

On May 5, 2026, the Securities and Exchange Commission (the “SEC”) proposed rule and form amendments that would grant public companies the option to file interim reports semiannually rather than quarterly. Under the current reporting regime, public companies must file three quarterly reports on Form 10-Q and one annual report on Form 10-K each year. If the proposed amendments are adopted, public companies will have the choice to either continue filing quarterly reports on Form 10-Q or instead file one semiannual report on new Form 10-S and one annual report on Form 10-K. Companies will decide on an annual basis whether to file semiannual or quarterly reports and will indicate their election by checking a box on their Form 10-K and other specified SEC filings. The proposed amendments include corresponding revisions to Regulation S-X to permit a semiannual reporting structure.