Risk Factors Update Summary
- The restructuring initiative will result in costs of approximately $13.4 million and annualized savings of $6.9 million.
- Manufacturing facilities decreased from 68% to 74% and tangible assets decreased from 35% to 24%.
- The largest direct customer sales decreased from approximately 17.6% to 11% of consolidated net sales.
- The CEO beneficially owned 22.4% of outstanding Class A common shares, a decrease from 21.7%.
- Cybersecurity threats increased in 2023, posing risks to network integrity and customer data.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
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