Earlier quoted context omitted.
Does it matter? Was there any consequence of filling out a form then doing something different? I have heard it several times already today, but so what a form was filled out wrong, is there any consequence to that that anybody would care about? (I doubt anybody complaining about it actually knows anything about how important it is, it’s just being latched on to because it’s a way to match events with preexisting opi…
Yes. He is currently in court claiming SEC is picking on him on another matter and this (and the fact that the filing was late) is likely going to hurt his case with the judge. And while I don't like speculating, since you're asking me to do so I'll add that it's entirely possible that any misrepresentations here get pursued on its own merits, as well.
But why is that form there and what is the consequence of filing one way or the other? I mean besides being punished for doing it wrong, why does that rule exist and what are the effects of filling it out one way or the other?
Why is this anything more than an administrative mistake? Did he get some benefit from filing the form that way?
... or, what it seems, is this just a "gotcha!" for people to complain about on the Internet.