In connection with their annual meetings, reporting companies are required by the SEC to send annual reports to their shareholders that meet the minimum requirements set forth under Rules 14a-3 and 14c-3 under the Securities Exchange Act of 1934. The traditional "glossy" annual report to shareholders is the principal document used by some companies to disclose corporate information to their shareholders. It is usually a state-of-the-company report, including an opening letter from the CEO, financial data, results of continuing operations, market segment information, new product plans, subsidiary activities, and research and development activities on future programs.