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Form 10-K
LegislationUS

Form 10-K

The audited annual report US public companies file with the SEC.

Last refreshed: 1 July 2026

Key Question

Why do companies name AI in a 10-K but never say how many jobs it cut?

Timeline for Form 10-K

#1522 Jun

Mentioned in: Oracle's 10-K names AI as a driver

AI: Jobs, Power & Money
View full timeline →
Common Questions
What is a Form 10-K?
A Form 10-K is the comprehensive annual report US public companies must file with the Securities and Exchange Commission, summarising financial performance, risk factors, and material business developments for the fiscal year.Source: SEC
What is the difference between a Form 10-K and a Form 8-K?
The Form 10-K is an audited annual report; the Form 8-K discloses discrete material events within days of them happening. Both are SEC filings, but only the 10-K's risk-factor section carries the legal liability that shapes how companies word disclosures.Source: SEC
Why did Oracle mention AI in its Form 10-K?
Oracle's Form 10-K named AI adoption as a workforce-reduction factor behind a 21,000-person cut, disclosing it because risk-factor statements in a securities filing carry legal liability that a leak or an analyst estimate does not.Source: Oracle SEC Form 10-K

Background

Form 10-K is the comprehensive annual report US public companies must file with the Securities and Exchange Commission, summarising financial performance, risk factors, and material business developments for the fiscal year.

Unlike the Form 8-K current report, which discloses discrete material events within days, the 10-K is an audited yearly filing whose Item 1A risk-factor section carries legal liability under the securities laws. Statements made there can support shareholder failure-to-warn claims, which shapes how carefully companies word them.

In 2026 the 10-K became a marker in the AI-jobs debate when large employers began naming AI adoption as a workforce-reduction factor in the risk-factor section, disclosing the exposure while declining to quantify how many roles AI had actually cut.

More questions
Where do companies disclose AI-driven job cuts?
Increasingly in the Item 1A risk-factor section of their annual Form 10-K, where naming AI adoption as a workforce-reduction factor carries legal liability under securities law.Source: SEC filings
Who requires companies to file a Form 10-K?
The US Securities and Exchange Commission (SEC) requires every US public company to file an annual Form 10-K.Source: SEC