On May 5, 2026, the Securities and Exchange Commission (SEC) proposed a rule that would allow public companies — subject to Sections 13(a) or 15(d) of the Exchange Act (reporting companies) — to opt for a new form of semiannual reporting in lieu of the current quarterly reporting. In connection with the semiannual structure, the proposed rule would create a new Form 10-S and amend and clarify applicable regulations, which were originally tailored for the current quarterly reporting framework.