Beneficial Owner Definition

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Definition Of Beneficial Owner:

1. A person who enjoys the benefits of ownership even though title is in another name.
Any individual or group of individualsthat, either directly or indirectly, has thepower to vote or influence the transaction decisions regarding a specific security. For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, thetrue owner is the beneficial owner, even though, for safety and convenience, the bank or broker holds title. Beneficial ownership may be shared among a group of individuals. If a beneficial owner controls a position of more than 5% it must file Schedule 13Dunder Section 12 of the Securities Exchange Act of 1934.

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