Within how many days must a Schedule 13D be filed after exceeding 5% beneficial ownership?

• A. 3 days
• B. 10 days
• C. 20 days
• D. 30 days

Answer: (B)

When someone becomes a beneficial owner of more than 5% of a class of registered equity securities, they must disclose that position by filing Schedule 13D within ten days of crossing that threshold. This rule exists to provide timely public information about large holders and any potential influence they may have on the company. The ten-day window begins from the date the ownership exceeds 5% and ends on the tenth day after that date. If the ownership changes in a material way, amendments to Schedule 13D are required as well. The other options are too short or too long given the regulatory requirement, which is a 10-day deadline.