Dirty Words in SEC Stock Filings

When I have free time on my hands and have nothing better to do, I look for dirty words on Securities and Exchange filings. Just kidding!

Surprisingly, several stocks have filed forms with the SEC that has the “S” word and the “F” word hidden away. And these aren’t just obscure companies. Some of these are famous names.

Sometimes the word is a typo, sometimes it is quoting from a conversation, and some times the company really means to say it.

The “S” Word

One example is Shopify (SHOP). On its Exhibit 1.1 for the Form 40-F [2016 Annual InformationForm], the “S” word is shown in the Culture & Employees section.

LendingClub (LC) has what appears to be a typo for an occupation on its Form 424B3.

The “F” Word

Time Warner Cable (TWX) had an interesting quote in its Form 425 filing.

These are just a few examples from the large companies. There are a few other filings with interesting words from companies that are not as well known.

Shit, I realized I got through writing this whole article without using one dirty four letter word.

It's Amazing How Dirty Words Make It Into SEC Filings

From a TWC filing with the SEC

Many investors consider corporate filings with the Securities and Exchange Commission to be boring and dry. However, occasionally, something interesting pops up, like the 'F' word.

It appeared in a filing for Time Warner Cable (TWC) on Form 425, relating to a press headline.

It also appeared in a Form 424B3 filing for LendingClub (LC), from a customer's comments, with regard to the Member Payment Dependent Notes.

Even some of the smaller companies are not immune, such as Fantex (VNDSL), which was in a transcription of a radio interview.

The 'S' word actually shows up in 22 SEC filings. Several are related to Wells Fargo, but in that case, it is someone's name.