Grizzly Bulls
← Grizzly Bulls Research

SEC Share-Count Disclosure Cadence Across 16 Filings

Four of Five Reviewed Issuers Stayed Within a 1-Day Lag Band, While Netflix Repeatedly Took 17–23 Days
By Lee BaileyPublished September 11, 2026Updated September 20, 2026Latest included SEC filing May 20, 2026Version 1.016 observations · 5 companies
Key findings

Disclosure lag was highly repeatable for four of five reviewed issuers

Across 16 reviewed SEC share-count observations for Microsoft, Netflix, NVIDIA, Oracle and Tesla, 13 observations (81.3%) were disclosed 5–7 calendar days after the stated share-count date. Four of five issuers kept their own repeated lags within a one-day range. Netflix was the clear cohort outlier: its three observations took 17–23 days.

4 of 5Issuers within a one-day lag band
80.0% of the selected longitudinal cohort.
13 of 16Observations disclosed in 5–7 days
81.3% of all reviewed observations.
17–23 daysNetflix reviewed range
All three Netflix observations were slower than every reviewed observation for the other four issuers.
This is a selected five-company cohort, not a population estimate. Stability inside this cohort does not prove future filings will follow the same cadence.

Issuer-level disclosure cadence

Each band shows the minimum-to-maximum lag observed for an issuer; the dot marks the median. That makes the four tightly clustered issuers and the much wider Netflix cadence visible without hiding quarter-to-quarter movement behind one summary number.

Four issuers stayed in tight lag bands; Netflix did not

Calendar days from the stated share-count date to the SEC filing date across the reviewed observations for each company. Band = observed minimum to maximum; dot = median.
Units: Calendar daysData: May 20, 2026

Four of the five reviewed issuers kept their observed disclosure-lag range within one day. Netflix ranged from 17 to 23 days, while the other issuers remained clustered around five to seven days.

Netflix22d median
3 reviewed observations · observed range 17–23 days.
Tesla7d median
3 reviewed observations · observed range 6–7 days.
Microsoft6d median
3 reviewed observations · observed range 6–6 days.
Oracle6d median
3 reviewed observations · observed range 5–6 days.
NVIDIA5d median
4 reviewed observations · observed range 5–5 days.
This selected five-company longitudinal cohort is not a population estimate and does not predict future filing cadence.
Source: 16 reviewed Forms 10-Q and 10-K hosted by the SEC
Link to this figureDownload, cite, or embed

All 16 reviewed observations

The public table preserves timing and SEC source information only. It intentionally omits the historical share-count values because this study is about disclosure timing rather than valuation.

CompanyShare count as ofSEC filing dateLagFormPrimary source
MicrosoftOctober 23, 2025October 29, 20256 days10-QMicrosoft fiscal 2026 Q1 Form 10-Q ↗
MicrosoftJanuary 22, 2026January 28, 20266 days10-QMicrosoft fiscal 2026 Q2 Form 10-Q ↗
MicrosoftApril 23, 2026April 29, 20266 days10-QMicrosoft fiscal 2026 Q3 Form 10-Q ↗
NetflixSeptember 30, 2025October 22, 202522 days10-QNetflix Q3 2025 Form 10-Q ↗
NetflixDecember 31, 2025January 23, 202623 days10-KNetflix 2025 Form 10-K ↗
NetflixMarch 31, 2026April 17, 202617 days10-QNetflix Q1 2026 Form 10-Q ↗
NVIDIAAugust 22, 2025August 27, 20255 days10-QNVIDIA fiscal 2026 Q2 Form 10-Q ↗
NVIDIANovember 14, 2025November 19, 20255 days10-QNVIDIA fiscal 2026 Q3 Form 10-Q ↗
NVIDIAFebruary 20, 2026February 25, 20265 days10-KNVIDIA fiscal 2026 Form 10-K ↗
NVIDIAMay 15, 2026May 20, 20265 days10-QNVIDIA fiscal 2027 Q1 Form 10-Q ↗
OracleSeptember 5, 2025September 10, 20255 days10-QOracle fiscal 2026 Q1 Form 10-Q ↗
OracleDecember 5, 2025December 11, 20256 days10-QOracle fiscal 2026 Q2 Form 10-Q ↗
OracleMarch 5, 2026March 11, 20266 days10-QOracle fiscal 2026 Q3 Form 10-Q ↗
TeslaOctober 16, 2025October 23, 20257 days10-QTesla Q3 2025 Form 10-Q ↗
TeslaJanuary 23, 2026January 29, 20266 days10-KTesla 2025 Form 10-K ↗
TeslaApril 16, 2026April 23, 20267 days10-QTesla Q1 2026 Form 10-Q ↗

Methodology

  1. Use the same reviewed five-company, 16-observation historical share-count sample throughout the study.
  2. Keep only the stated share-count as-of date, SEC filing date, form, accession number and source URL; do not redistribute the underlying share values.
  3. Recompute each lag as whole calendar days from the as-of date to the filing date.
  4. For each issuer, calculate the median, minimum, maximum and within-issuer range. Count issuers whose reviewed range is at most one day.
  5. Use historical observations consistently so the company-to-company cadence comparison is not mixed with later current-period measurements.

Data cutoff: latest included SEC filing May 20, 2026.

Primary SEC sources

Each row links to the filing that supplied the timing observation. The filing dates and stated share-count dates are source facts; lag and issuer-level summaries are Grizzly Bulls derived measures.

Microsoft: 10-Q filed October 29, 2025 ↗Microsoft: 10-Q filed January 28, 2026 ↗Microsoft: 10-Q filed April 29, 2026 ↗Netflix: 10-Q filed October 22, 2025 ↗Netflix: 10-K filed January 23, 2026 ↗Netflix: 10-Q filed April 17, 2026 ↗NVIDIA: 10-Q filed August 27, 2025 ↗NVIDIA: 10-Q filed November 19, 2025 ↗NVIDIA: 10-K filed February 25, 2026 ↗NVIDIA: 10-Q filed May 20, 2026 ↗Oracle: 10-Q filed September 10, 2025 ↗Oracle: 10-Q filed December 11, 2025 ↗Oracle: 10-Q filed March 11, 2026 ↗Tesla: 10-Q filed October 23, 2025 ↗Tesla: 10-K filed January 29, 2026 ↗Tesla: 10-Q filed April 23, 2026 ↗

Download the longitudinal timing dataset

CSV and JSON contain the 16 timing/source observations and issuer-level cadence summaries, but no historical share counts, prices, market caps or valuation multiples.

Research data

Public study files are available for verification and analysis. The Grizzly Bulls Data License covers these public downloads; third-party source records retain their own rights. Reuse terms →
  • CSVCSV download
    Tabular public study data for spreadsheet analysis, independent checks, and new charts.
    Data snapshot May 20, 2026 · Reuse with attribution to the canonical study.
    Download CSV
  • JSONJSON download
    Structured public study data for programmatic verification while preserving the published field names and research context.
    Data snapshot May 20, 2026 · Reuse with attribution to the canonical study.
    Download JSON

Citation and reuse

Lee Bailey. “SEC Share-Count Disclosure Cadence Across 16 Filings: Four of Five Reviewed Issuers Stayed Within a 1-Day Lag Band, While Netflix Repeatedly Took 17–23 Days.” Grizzly Bulls, September 11, 2026. Version 1.0. Data snapshot May 20, 2026. https://grizzlybulls.com/research/share-count-disclosure-cadence
Research source kit →

When citing an issuer's cadence, preserve the reviewed observation count and date range. Do not generalize the five-company result to all SEC issuers.

Continue the research

Read the 21-company cross-sectional disclosure-lag study →Explore Grizzly Bulls stock research →More Grizzly Bulls Research →