Welcome to our dedicated page for Webull SEC filings (Ticker: BULL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Webull Corporation (NASDAQ: BULL) files reports and other documents with the U.S. Securities and Exchange Commission as a foreign private issuer. This SEC filings page for BULL brings those regulatory disclosures together with AI-powered tools that help explain their contents in plain language.
Through filings such as Form 6-K and the Annual Report on Form 20-F, Webull provides information on its financial performance, trading-related revenue, operating expenses, and non-GAAP measures like adjusted operating profit, adjusted net income, and adjusted operating expenses. These documents also describe key operating metrics, including customer assets, funded accounts, options contracts volume, equity notional volume, and registered users, along with definitions that clarify how each metric is calculated and why it matters for the business.
Webull’s filings include discussions of risk factors and forward-looking statements, addressing topics such as reliance on trading-related income, exposure to market volatility and interest rates, dependence on market makers and liquidity providers, regulatory considerations around practices like payment for order flow, global expansion risks, cybersecurity and data privacy, and developments in cryptocurrency markets. The company also discloses information about its regulatory status, including that Webull Financial LLC is registered with the SEC and CFTC and is a member of FINRA, NFA, and SIPC, and that advisory services are provided by Webull Advisors LLC.
On this page, AI-generated summaries highlight the most important points from Webull’s 6-Ks, 20-F, and related exhibits, helping users quickly understand changes in revenues, profitability, capital position, and risk disclosures without reading every line of each filing. Investors can also review insider- and executive-related filings, when available, to monitor equity-based compensation, ownership changes, and other governance matters associated with BULL.
Webull Corporation files Post-Effective Amendment No. 2 converting its previously effective Form F-1 registration statement into a Form F-3 and updating the prospectus to register resales of up to 147,445,012 Webull Class A Ordinary Shares, up to 6,792,000 Webull Private Warrants and up to 20,000,000 Webull Incentive Warrants. The prospectus permits selling securityholders to offer and sell those securities from time to time pursuant to registration rights tied to the Business Combination; no new securities are being registered in this amendment. The prospectus states that Webull will not receive proceeds from resale by the selling securityholders, but has received proceeds from prior warrant exercises and could receive up to $111.3 million if remaining Webull Warrants are exercised for cash at $11.50 per share. The filing also discloses capitalization figures as of December 31, 2025, governance status as a Cayman Islands foreign private issuer and a Nasdaq "controlled company," and highlights potential market pressure from the resale of a substantial portion of outstanding securities.
HOULIHAN WILLIAM A reported acquisition or exercise transactions in this Form 4 filing.
Webull Corp director William A. Houlihan received a grant of 42,471 Restricted Share Units (RSUs). These RSUs were granted on April 13, 2026 and each represents a contingent right to receive one Class A Ordinary Share if service conditions are met.
The RSUs are scheduled to vest on April 10, 2027, subject to Houlihan’s continued service with Webull through that date. Settlement of the vested RSUs has been deferred at Houlihan’s election to the earlier of the fifth anniversary of the grant date or 30 days after his separation from service.
Webull Corp director William A. Houlihan increased his direct equity stake through share-based compensation. On April 10, 2026, 12,500 restricted share units were exercised into 12,500 Class A Ordinary Shares at no cash exercise price, leaving no remaining units from that grant.
On the same date, he also received a separate award of 4,719 Class A Ordinary Shares, bringing his direct holdings to 17,219 Class A Ordinary Shares after these transactions. The filing reflects compensation-related equity awards rather than open-market buying or selling.
Webull Corporation filed its Form 20-F annual report outlining 2025 performance and key risks. The company reported net losses attributable to ordinary shareholders of $487.5 million in 2025 and $517.8 million in 2024, after preferred share accretion and warrant-related fair value.
Trading-related income is central to the model, with payment for order flow generating $304.1 million in 2025 and $197.1 million in 2024, equal to 53.3% and 50.5% of total revenue. This concentration exposes Webull to potential U.S. regulatory changes that could restrict or indirectly pressure PFOF economics.
As of December 31, 2025, Webull had 440,715,769 Class A and 83,859,005 Class B ordinary shares outstanding; Class B carries 20 votes per share. Founder and CEO Anquan Wang beneficially owned 16.4% of ordinary shares, representing 79.2% of voting power as of March 31, 2026, giving him effective control. The filing also describes several FINRA, SEC, and state settlements totaling over $5 million, plus ongoing regulatory and political scrutiny, including concerns about China links and newer products such as event-based contracts and cryptocurrencies.
Webull Corporation has terminated its standby equity purchase agreement with YA II PN, Ltd. (Yorkville). The company sent a termination notice on April 1, 2026, which became effective on April 6, 2026. At termination, there were no outstanding advance notices, no shares to be issued, and no amounts owed by either party.
The agreement had allowed Webull to issue up to $1.0 billion in Class A ordinary shares, but Webull only issued and sold 11,500,000 shares to Yorkville, raising proceeds of $173.2 million. Webull has not issued any shares under this arrangement since September 2025. The report and press release also reiterate extensive forward-looking risk factors related to regulation, market conditions, technology, cybersecurity, cryptocurrencies, and potential dilution from future warrant exercises.
Webull Corp President Anthony Michael Denier filed an initial ownership report showing significant direct holdings in the company. He directly owns 2,461,143 Class A Ordinary Shares. The reported securities also include 300,000 restricted shares that will vest in full on January 1, 2028, subject to continued service.
Denier also holds restricted share units representing 41,991 and 335,930 underlying Class A Ordinary Shares, which vest on January 1, 2027 and in two equal parts on January 1, 2027 and January 1, 2028. In addition, he holds stock options over 196,009, 125,974, and 251,948 Class A Ordinary Shares at an exercise price of $0.1384 per share, with expirations on June 1, 2027, January 1, 2029, and January 1, 2030.
Webull Corp director Walter A. Bishop reported initial holdings of 12,500 restricted share units (RSUs) on Class A Ordinary Shares. These RSUs are held directly and each unit represents a contingent right to receive one share.
According to the disclosure, 100% of the 12,500 RSUs will vest on June 8, 2026, provided Bishop continues his service through that date. Until vesting, they remain unexercised derivative positions rather than current share ownership.
Webull Corp director William A. Houlihan filed an initial ownership report showing 12,500 restricted share units (RSUs). These RSUs relate to Class A Ordinary Shares. According to the disclosure, 100% of the 12,500 RSUs will vest on April 10, 2026, if he continues in service through that date. Each RSU represents a contingent right to receive one Class A Ordinary Share upon vesting, so this filing mainly outlines his starting equity-based compensation position rather than any open‑market trading activity.