Which of the following best describes the difference between a Schedule 13D and a Schedule 13G?
A) A schedule 13D is for 5% shareholders whereas a schedule 13G is for 10% shareholders
B) A schedule 13D is for affiliates whereas a schedule 13G is for non-affiliates
C) A schedule 13D is only for individual investors whereas a schedule 13G is for institutional investors
D) A schedule 13D is for activist investors whereas a schedule 13G is for passive investors
Answer: D