"Schedule 13D is intended to provide transparency to the public regarding who these shareholders are and why they have taken a significant stake in the company.

"Schedule 13D is intended to provide transparency to the public regarding who these shareholders are and why they have taken a significant stake in the company. The form signifies to the public that a change of control, such as a hostile takeover or proxy fight, might be about to take place so that current shareholders in the company can make informed investing and voting decisions." https://www.investopedia.com/terms/s/schedule13d.asp https://www.investopedia.com/terms/s/schedule13d.asp