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Item 1. Business

2026-02-25 compared with 2025-02-26 · 115 added, 106 removed, 139 unchanged (61% of the section changed)

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We have a winning leadership culture driven by entrepreneurial business leaders that deliver innovative solutions to our customers.

We believe that our core strategies of driving organic growth and growth through accretive acquisitions, promoting sharing of best practices across all of our businesses, and leveraging our scale and services offerings place us in the position to capitalize on opportunities and trends in the industries we serve, grow our businesses, and advance our position in each of our markets.

We believe that our revenue diversification across customers, end markets, geographies, and projects, combined with our go-to-market strategy of selling inspection work first, regional approach to operating our businesses, specialty operations in niche markets, strong commitment to leadership development, long-standing customers with a robust reputation in the industries we serve, and strong safety track record differentiates us from our competitors.

We have a disciplined acquisition platform which has historically provided strategic acquisitions that are integrated into our operations.

Since 2005, we have completed over 125 acquisitions.

We target companies that align with our strategic priorities and demonstrate key value drivers such as culture, geography, end markets and client base, capabilities, and leadership.

Our priorities are unified around maintaining business continuity while identifying and implementing operational efficiencies, cost synergies, and integration of organizational processes to drive margin expansion.

We employ a regional operating model designed to improve speed and responsiveness to our customers across our businesses, empower leadership of our businesses to drive business performance and execute key decisions, and foster cross-functional sharing of best practices.

This structure promotes a business-owner mindset among our individual business leaders and combines the personal attention of a small- to medium-sized company with the strength and support of an industry leader.

It also allows each of our businesses to remain highly focused on best positioning itself within the categories in which it competes and reinforces strong accountability for operational and financial performance.

We operate our business under three primary operating segments, which aggregate to our two reportable segments:

• Safety Services – A leading provider of safety services in North America, Europe, and Asia-Pacific, focusing on end-to-end integrated occupancy systems (fire protection solutions, Heating, Ventilation, and Air Conditioning (“HVAC”), entry systems, and elevators and escalators), including design, installation, inspection, and service of these integrated systems.

The work performed within this segment spans across industries and facilities and includes commercial, education, healthcare, high tech, industrial, and special-hazard settings.

• Specialty Services – A leading provider of a variety of infrastructure services and specialized industrial plant services, which include maintenance and repair of critical infrastructure such as underground electric, gas, water, sewer, and telecommunications infrastructure.

Our services include engineering and design, fabrication, installation, maintenance service and repair, retrofitting and upgrading, pipeline infrastructure, access and road construction, supporting facilities, and performing ongoing integrity management and maintenance to customers within the energy industry.

Customers within this segment vary from private and public utilities, communications, healthcare, education, transportation, manufacturing, industrial plants and governmental agencies throughout North America.

After reviewing the businesses in our portfolio, we have made the decision to realign our segments beginning in 2025 by moving our HVAC business from Safety Services to Specialty Services.

The industries in which we operate are highly fragmented and comprised of national, regional, and local companies that provide services to customers across various end markets and geographies.

We believe that our core strategies of driving sustainable organic growth, growing through accretive acquisitions, promoting the sharing of best practices across all of our businesses, and leveraging our scale and service offerings place us in a unique position to capitalize on opportunities in the industries we serve and advance our position in each of our markets.

We believe that our revenue diversification across customers, end markets, geographies, and projects, combined with our inspection-first go-to-market strategy, decentralized operating model, enduring commitment to leadership development, long-standing customer relationships, and strong safety track record differentiates us from our competitors.

We have a disciplined acquisition strategy and have completed 140 acquisitions since 2005.

We target companies that align with our strategic priorities and demonstrate key value drivers such as the geographies they serve, the culture, value, and fit of the business being acquired, the services they offer, and the financial profile of the business.

A key component of our acquisition strategy is to strengthen and expand our existing service offerings in geographies where our capabilities in certain service offerings are limited.

Post acquisition, we prioritize maintaining business continuity while identifying and implementing our inspection-first strategy, operational efficiencies, cost synergies, and integration of organizational processes to drive margin expansion.

We have a decentralized operating model designed to improve speed and responsiveness to our customers across our businesses, empower leadership of our businesses to drive business performance and execute key decisions, and foster cross-functional sharing of best practices.

This structure promotes a business-owner mindset among our individual leaders and combines the personal attention of a small-to-medium-sized company with the strength and support of a global industry leader.

It also allows each of our businesses to remain highly focused on best positioning itself within the markets in which it competes and reinforces strong accountability for operational and financial performance.

We operate our business under three primary operating segments, two of which are aggregated into a single reportable segment, resulting in two reportable segments:

• Safety Services – A leading provider of safety services in North America, Europe, and Asia-Pacific, focusing on fire protection solutions, electronic security systems, and elevators and escalators, including design, installation, inspection, service, and monitoring of these systems.

The work performed within this segment spans across a diverse mix of end markets with a focus on high tech services, advanced manufacturing, healthcare, fulfillment and distribution centers, and critical infrastructure.

• Specialty Services – A leading provider of a variety of specialty contracting, fabrication and distribution, and infrastructure and utility services.

The work within this segment spans across a diverse mix of end markets with a focus on high tech services, healthcare, and critical infrastructure throughout North America.

The industries in which we operate are highly fragmented and comprised of international, national, regional, and local companies that provide services to customers across various end markets and geographies.

We believe the following industry trends are affecting, and will continue to affect, demand for our services.

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As these associations and government agencies continue to adopt new, more stringent regulations, the demand for our services increases.

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Deferred Infrastructure Investment.

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The Infrastructure Investment and Jobs Act, signed into law on November 15, 2021, includes $550 billion of newly authorized infrastructure spending through 2026.

In addition, the growing strategic importance of semiconductor technology in industries like defense, automotive, and telecommunications has caused the U.S.

to boost domestic semiconductor production and reduce reliance on foreign supply chains.

The CHIPS and Science Act, passed in 2022, allocates funds for semiconductor research, development, and manufacturing, including $39 billion for building new U.S.

facilities and equipment.

In addition, the growing adoption of artificial intelligence and high-performance computing is causing an increase in large-scale infrastructure projects, aligning with our end markets of high tech services and advanced manufacturing.

Our Competitive Strengths

We believe that the following are our key competitive strengths:

We believe the following are our key competitive strengths:

Benefits of Scale in a Fragmented Market with Limited Businesses of Size.

Our scale provides meaningful advantages across our platform.

We leverage shared technology, centralized back-office support, and common processes to drive consistency, efficiency, and quality in our service delivery.

Our size also supports disciplined investment in leadership development and broader learning programs, enabling us to attract, develop, and retain talent at all levels of the organization.

We believe these scale-driven investments in our people, systems, and support functions enhance our ability to serve our customers, support growth, and improve long-term operating performance.

Leading Market Positions in Diverse Set of Niche Industries.

We believe that we are one of the go-to-market leaders in each of the niche industries we serve, including the industry leader in life safety and security services, among the top five specialty contractors in North America, and a premier provider of services for elevator and escalator equipment.

We believe that our revenue diversification across customers, end markets, geographies and projects, combined with our go-to-market strategy of selling inspection work first, regional approach to operating our businesses, operations in niche industries with strong cross-selling opportunities and recurring revenue potential, strong commitment to leadership development, long-standing customer relationships with a robust reputation in the industries we serve, and strong safety track record differentiates us from our competitors.

As a result of our strong global brand recognition, we believe we have better access to new business opportunities, allowing us to maintain and advance our market share positions.

We believe that we are one of the go-to-market leaders in each of the diverse set of end markets we serve, including the industry leader in life safety and electronic security services, among the top five specialty contractors in North America, and a premier provider of services for elevators and escalators.

We have strong revenue diversification across customers, end markets, geographies, and projects.

Our go-to-market strategy of selling inspection work first, our focus on recurring revenue streams, and our regional approach to operating our businesses differentiate us from our competitors.

Additionally, we have strong cross-selling opportunities, commitment to leadership development, long-standing customer relationships, robust reputation in the industries we serve, as well as a strong safety track record.

As a result of our global brand recognition, we believe we have better access to new business opportunities, allowing us to maintain and advance our market share positions.

Repeat Revenue with Diverse Mix of Customers, End Markets, Geographies and Projects.

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Many of our customers have high creditworthiness in a direct service relationship or contracting role, providing stable cash flows and a platform for organic growth.

Service inspections are often required by legislation or insurance mandates, providing a strong recurring revenue stream.

Our broad geographic footprint reaches over 500 locations throughout over 20 countries and allows us to maintain relationships with local decision makers while also having the ability to execute multi-site services for national and international account customers.

Inspections are often required by legislation or insurance mandates, providing a strong recurring revenue stream.

Our broad geographic footprint reaches more than 500 locations throughout over 20 countries and allows us to maintain relationships with local decision makers while also having the ability to execute multi-site services for national and international account customers.

Differentiated Business Model Focused on Growing Service Revenue.

Our go-to-market strategy in life safety is to sell inspection work first, because we estimate that every dollar sold can lead to subsequent service work.

In most cases, our inspection work is covered by statutory or insurance requirements.

Our go-to-market strategy in life safety is inspection-first, because we estimate that every dollar sold can lead to subsequent service work.

In most cases, our inspection work is required by statutory or insurance obligations.

Nearly all facilities that have existing life safety systems are required by law to have that system inspected on at least an annual basis.

This strategy differentiates us from our peers and we believe ultimately creates a stickier client relationship that we believe leads to recurring revenue, higher margins, and growth opportunities.

This strategy differentiates us from our peers and we believe this ultimately creates a stickier customer relationship that leads to recurring revenue, higher margins, and growth opportunities.

Attractive Industry Fundamentals.

We believe that the diversity of end markets we serve and the regulatory-driven demand for certain of our services will enable us to better withstand various economic cycles.

We believe that the diversity of the end markets we serve and the regulatorily-driven demand for certain of our services will enable us to better withstand various economic cycles.

We believe that the industries in which we operate are subject to increasingly complex and evolving regulatory environments and have experienced pent-up demand resulting from years of deferred maintenance and retrofit investment.

We believe this presents attractive opportunities for us to drive growth in our businesses and enhance our market share positions.

Disciplined Acquisition Platform with History of Strategic Acquisitions.

We have a disciplined acquisition platform through which we systematically target, execute, and integrate strategic acquisitions.

Since 2005, we have completed over 125 acquisitions.

Through our selective approach, we identify and assess companies that we believe align with our strategic priorities and demonstrate key value drivers such as culture, geography, end markets, client base, leadership, and service capabilities.

Each of our businesses maintains its identity, reputation, customer relationships and culture following acquisition while benefiting from the resources of the APG network, which we believe is an important differentiator.

Our acquired businesses benefit from direct access to the APG network, which facilitates organizational sharing of knowledge and best practices, increases collaboration across our businesses, and develops cross-brand solutions which foster enhanced experience, quality, and efficiency.

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History of Disciplined and Strategic Acquisitions and Divestitures.

We have a disciplined acquisition strategy and have completed 140 acquisitions since 2005.

We target acquiring companies that align with our strategic priorities and demonstrate key value drivers such as the geographies they serve, the culture, value, and fit of the business being acquired, the services they offer, and the financial profile of the business.

In addition, we continuously evaluate our portfolio of businesses and to ensure our companies support our long-term strategy and growth targets and will restructure or divest those businesses that do not align.

A key component of our acquisition strategy is to strengthen and expand our existing service offerings in geographies where our capabilities in certain services offerings are limited.

Differentiated Leadership Culture and Operating Model.

We believe that one of our core pillars of success is our distinct leadership development culture predicated on Building Great Leaders ® , our cross-functional leadership development platform designed to enable independent company leadership, cultivate broad management skills, enhance organizational flexibility, and empower the next cohort of leaders across our businesses.

This culture of investing in leadership development at all levels of the organization has created an empowered, entrepreneurial atmosphere which facilitates organizational sharing of knowledge and best practices and enables the development of cross-brand solutions and innovation.

We believe that one of our core pillars of success is our distinct leadership development culture predicated on our purpose of Building Great Leaders ® , which is designed to enable independent company leadership, cultivate broad management skills, enhance organizational flexibility, and empower the next cohort of leaders across our businesses.

This culture of investing in leadership development at all levels of the organization has created an empowered, entrepreneurial atmosphere.

Another important initiative is our field-based leadership programs.

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Resilient Business Model with Multiple Levers to Navigate Downturns.

Our proactive approach to managing risk across our platform, recurring revenue services-focused business model, and highly variable cost structure provide significant flexibility to effectively navigate downturns.

Our proactive approach to managing risk across our platform, inspection and services-focused business model focused on recurring revenue, and highly variable cost structure provide significant flexibility to effectively navigate downturns.

Our significant union labor force in the U.S.

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We believe that, due to our differentiated operating model, diversified services offerings, historically strong organic growth, and disciplined acquisition strategy, we have an attractive financial performance profile.

In addition, we support margin growth by leveraging our scale to benefit from procurement savings resulting from enhanced purchasing power and serving higher-margin, niche industries.

In addition, we support margin expansion by leveraging our scale to benefit from procurement savings resulting from enhanced purchasing power and serving higher-margin, diverse set of end markets.

We also have a stable cash flow profile driven by our focus on recurring services-based revenue and our asset-light business model, which requires minimal ongoing capital expenditures (which are typically less than 1.5% of total net revenues).

The mission-critical nature of our services and regulatory-driven inspection requirements provide predictable, recurring revenue stream opportunities.

Maintenance and services revenues are less cyclical and are reasonably recurring due to the consistent renewal rates and deep customer relationships.

The mission-critical nature of our services and regulatorily-driven inspection requirements provide predictable, recurring revenue stream opportunities.

Inspection, service, and monitoring revenue is less cyclical and reasonably recurring due to the consistent renewal rates and deep customer relationships.

Our Business Strategy

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Drive Organic Growth.

We believe that we can continue to grow our businesses organically and capture additional market share across each of our segments by focusing on growing maintenance, inspection, monitoring, and service revenue and maximizing cross-selling opportunities.

• Grow Maintenance, Inspection, Monitoring, and Service Revenue - We believe that we can drive substantial organic growth by focusing on growing our maintenance, inspection, monitoring, and service revenue, which is a component of our business in each of our segments.

We plan to capitalize on our broad base of installed projects, cross-selling opportunities, and customer relationships to continue to grow maintenance, inspection, monitoring, and service revenue.

We believe that we can continue to grow our businesses organically and capture additional market share across each of our segments by focusing on the following:

• Grow Inspection, Service, and Monitoring Revenue - We believe that we can drive substantial organic growth by focusing on growing our inspection, service, and monitoring revenue, which is a component of our business in each of our segments.

We plan to capitalize on our broad base of installed projects, cross-selling opportunities, and customer relationships to continue to grow inspection, service, and monitoring revenue.

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• Project Revenue Discipline - We also drive organic growth by maintaining disciplined project selection, ensuring we pursue project work that aligns with our strategic priorities, customer profile, and targeted end markets.

Our strategy emphasizes inspection, service, and monitoring activities, which support long-term customer relationships and enable consistent operational execution and technical performance.

This recurring engagement strengthens our role as a trusted partner and contributes to a robust pipeline of owner-direct project opportunities.

• Maximize Cross-Selling Opportunities - With diverse businesses, a broad reach across a variety of different industries, geographies, and end markets, and a culture of collaboration, we believe that we have significant cross-selling opportunities to service more of the project life cycle and, once a project is completed, to continue to grow attractive recurring revenue streams.

Accelerate Growth through Acquisitions.

Supplement Growth through Acquisitions.

We have a well-established acquisition platform with a track record of executing accretive acquisitions through our selective approach to targeting and assessing potential acquisitions that we believe align with our values and strategic priorities.

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Our programmatic training and development curriculum focuses on a range of topics, from enhancing technical capabilities to developing soft skills, and decision-making training to enable independent company leadership.

We believe that this culture will continue to support our decentralized operating model, which combines the personal attention of a small- to medium-sized company with the strength and support of an industry leader.

We believe that this culture will continue to support our decentralized operating model, which combines the personal attention of a small-to-medium-sized company with the strength and support of a global industry leader.

Leverage Our Scale and Services Portfolio.

We believe that we can grow our businesses and increase our market position by leveraging our scale and broad portfolio of services offerings to capitalize on demand for single-source national and international providers.

For example, we plan to focus on expanding national and international accounts and further developing an entity-wide purchasing program to realize the benefits from volume discounts and vendor pricing.

We plan to leverage our industry-leading positions and the leadership across our businesses to capture growth opportunities across each of our segments.

In addition, our increasing international footprint enhances our services platform with complementary offerings and cross-selling opportunities.

We believe that we can grow our businesses and increase our market position by leveraging our scale and broad portfolio of services offerings, by achieving the following:

• We focus on leveraging our global footprint and growing service offerings to accelerate cross-selling of complementary services to new and existing customers.

• We continue to leverage our size and differentiated capabilities to win large, highly complex projects that require specialized technical knowledge and the ability to execute safely and on-schedule.

• We leverage our scale to invest in technology for our teams and invest in leadership development which enables us to attract, develop, and retain talent at all levels of the organization.

• We are developing an entity-wide purchasing program to realize the benefits from volume discounts and vendor pricing.

We have long-standing relationships with many customers in each of the industries we serve.

We serve customers in both the public and private sectors, including commercial, industrial, distribution and fulfillment centers, manufacturing, education, healthcare, telecom, utilities, transmission and integrity, high tech, entertainment, government, and infrastructure.

We serve customers in both the public and private sectors, including high tech services, advanced manufacturing, healthcare, fulfillment and distribution centers, critical infrastructure, commercial, industrial, education, telecom, utilities, transmission and integrity, entertainment, and government.

Our customers range from Fortune 500 companies with diverse, worldwide operations to single-location companies.

We have low customer concentration with no single customer accounting for more than 5% of our total net revenues for 2025.

Our focus on providing high quality service promotes deep, long-term relationships with our customers which often results in continued opportunities for new business and a reliable source of recurring revenue for ongoing inspection, maintenance, and monitoring services.

Our focus on providing high quality service promotes deep, long-term relationships with our customers which often results in continued opportunities for new business and a reliable source of recurring revenue for our ongoing inspection, service, and monitoring services.

We often provide services under master service and other service agreements, which can be multi-year agreements, subject to earlier termination.

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Under the typical payment terms of master and other service agreements and contracts for specific projects, the customer makes progress payments based on quantifiable measures of performance as defined in the agreements.

Some of our contracts include retainage provisions, under which a portion of the contract amount can be retained by the customer until final contract settlement.

Some of our contracts

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include retainage provisions, under which a portion of the contract amount can be retained by the customer until final contract settlement.

Government Regulation and Environmental Matters

Our business activities are subject to regional, national, state, and local laws and regulations in each country in which we conduct business.

These laws and regulations involve matters including compliance with codes or regulations governing our services, licensing and certification requirements, environmental and substance control, workplace safety, privacy, data use, data security and protection of personal information, data storage and retention, biometrics, intellectual property, advertising, marketing, distribution, electronic contracts and other communications, competition, taxation, economic or other trade prohibitions or sanctions, anti-corruption and political law compliance, securities law compliance,

and financial services.

Our business activities are subject to national, regional, state, and local laws and regulations in each country in which we conduct business.

In some cases, laws and regulations outside of the U.S.

impose different obligations or are more restrictive than those in the U.S.

These regulations are administered by various regional, national, state, and local health and safety and environmental agencies and authorities.

These regulations are administered by various national, regional, state, and local health, safety, and environmental agencies and authorities.

While we cooperate with governmental authorities and take reasonable measures to meet regulatory requirements, certain of these risks are inherent in the operation of our business irrespective of regulatory compliance.

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Fluctuations in end-user demand, or in the supply of services within those industries, can affect demand for our services.

As a result, our business may be adversely affected by industry declines or by delays in new projects.

As a result, our businesses may be adversely affected by industry declines or by delays in new projects.

Variations or unanticipated changes in project schedules in connection with large projects can create fluctuations in net revenues.

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Competitive Environment

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We compete based on a variety of factors, including price, service, technical expertise and experience, quality, safety record, response time, and reputation for customer service.

A portion of our revenue is derived from agreements with

customers that contain fixed price or per unit terms, and price is often an important factor in the contract award process for such work.

A portion of our revenue is derived from agreements with customers that contain fixed price or per unit terms, and price is often an important factor in the contract award process for such work.

However, we believe our customers also consider a variety of other factors, including those described above, when selecting a service provider, and we believe that our technical capabilities, broad geographic reach, and skilled labor force enable us to compete against our larger competitors.

We have multiple supply sources in various markets at competitive pricing for substantially all of our raw material and installed components.

The raw materials and various purchased components we use such as piping, steel, sheet metal, fire suppression/detection, elevator/escalator components, and HVAC equipment have generally been available in sufficient quantities in a timely manner.

The raw materials and various purchased components we use such as piping, steel, sheet metal, fire suppression/detection, elevator/escalator components, and Heating, Ventilation, and Air Conditioning ("HVAC") equipment have generally been available in sufficient quantities in a timely manner.

We rely on multiple third-party manufacturers as a source for pre-fabricated goods or system components.

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Insurance and Legal Proceedings

The primary insured risks in our operations are bodily injury, property damage and workers’ compensation injury.

The primary insured risks in our operations are bodily injury, property damage and workers’ compensation claims.

We are insured for workers’ compensation, employer’s liability, auto liability, general liability, employee group health insurance, property damage or loss, business interruption, cyber incidents, pollution liability, professional liability, as well as for other business risks and retain the risk for claims resulting from uninsured deductibles or retentions per-incident or occurrence.

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Losses under all of these insurance programs are accrued based upon our estimate of the likely ultimate liability for claims reported and an estimate of claims incurred but not reported ("IBNR"), with assistance from third-party actuaries.

In addition, in connection with the Chubb Acquisition, we agreed to accept the risk on certain pending claims against Chubb and certain IBNR claims.

We estimated the exposure to loss presented by such claims with the assistance of third-party actuaries and negotiated an adjustment to the purchase price in connection with these anticipated costs and have made associated accruals.

These insurance liabilities and liabilities for the Chubb claims are difficult to assess and estimate due to unknown factors, including the severity of an injury, the extent of damage, the determination of our liability, if any, in proportion to other parties and the number of incidents not reported.

The accruals are based upon known facts, historical trends, and industry averages using the assistance of an actuary to project the extent of these obligations and management believes such accruals are adequate.

Growing and Developing our People

Our number one value and priority is the safety, health and well-being of all of our approximately 29,000 team members, all of whom are critical to the execution of our strategies and achieving business success.

Our number one value and priority is the safety, health, and well-being of our approximately 29,000 team members, all of whom are critical to the execution of our strategies and achieving business success.

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Talent Development and Engagement

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We have a safety culture that is grounded in our commitment to zero incidents.

We have established safety standards covering the risks particular to our business, deployed through specific training and monitored by country-level inspection programs.

The aim of these programs is to ensure that all employees are aware of and comply with safety standards we have established and all applicable laws, regulations and other requirements in the countries and jurisdictions in which we operate.

We have established safety standards covering the risks particular to our business, deployed through specific training and monitored by inspection programs.

The aim of these programs is to ensure that all employees are properly trained on and comply with safety standards we have established and all applicable laws, regulations, and other requirements in the countries we operate.

We have implemented our safety program, STEPS (Striving Toward Excellence and Professionalism in Safety), globally, which promotes safety culture awareness throughout our operations.

Outside of North America, we have established a security program, SAFE (Scan, Assess, Fix, Execute) which is linked to the need for preventive actions before starting work.

In addition, we have multiple programs geared towards increasing everyone’s awareness of our safety culture and to empower employees to stop work if risks are unmanageable.

The STEPS program is focused on proactive hazard identification and robust risk assessment before starting work.

In addition, we have multiple programs geared towards increasing everyone’s awareness of our safety culture and to empower our teams to stop work and implement proper controls to minimize risk.

We are very focused on improving our fleet performance through defensive driver training, fleet technology, and company fleet assessments.

Additionally, we participate in an annual Safety Week which includes activities designed to elevate safety awareness, and we hold an annual competition to acknowledge and reward businesses exhibiting excellence in safety.

Our team of over one hundred safety professionals support the operations in each business to ensure industry safety standards are met and audits by safety professionals or certified organizations are utilized to assess the maturity of our safety management systems.

Additionally, we participate in an annual industry sponsored Safety Week which includes activities designed to elevate safety awareness, and we hold an annual competition to acknowledge and reward businesses that exhibit excellent safety performance.

Our team of over one hundred safety professionals support the operations in each business to ensure industry safety standards are met.

Audits are conducted by our safety professionals and certified organizations are utilized to assess the maturity of our safety management systems.

Our rate of incidents recordable under the standards of the U.S.

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Becker 60 Chief Executive Officer and President

Glenn David Jackola 45 Interim Chief Financial Officer

Glenn David Jackola 46 Executive Vice President and Chief Financial Officer

Lambert 50 Senior Vice President, General Counsel and Secretary

Morton 51 Senior Vice President and Chief People Officer

Becker has served as a director of the Company since October 2019.

Becker joined APi Group, Inc.

in 2002 as its President and Chief Operating Officer and became its Chief Executive Officer in 2004.

Prior to leading APi Group, Inc., Mr.

Becker served in a variety of roles at The Jamar Company, a subsidiary of APi Group, Inc., including as a Manager of Construction from 1995 to 1997 and as President from 1998 until he joined APi Group, Inc.

Becker served as a project manager for Ryan Companies from 1993 to 1995 and as a field engineer with Cherne Contracting from 1991 to 1993.

Since January 2019, Mr.

Becker has served on the board of directors for Marvin Companies, a private company.

Becker also serves on the advisory board for the Construction Management Program at Michigan Technical University.

Glenn David Jackola has served as Interim Chief Financial Officer since December 2024 and previously served as the Chief Financial Officer and Vice President of Transformation at APi International since November 2022.

Prior to his current role, he held the position of Vice President, Controller and Chief Accounting Officer at the Company from March 2022 to November 2022, and as Vice President, Corporate Planning and Analysis since joining the Company in October 2021.

Prior to joining the Company, Mr.

Jackola was the Vice President of Finance of James Hardie Building Products where he served as head of finance for the North American business.

Prior to that, Mr.

Jackola was Vice President of Finance – Europe for Ecolab and also held other roles of significant responsibility within Ecolab since joining in July 2008.

Jackola received his bachelor’s degree in Economics from Carleton College and his Master of Business Administration in Finance from the University of Chicago Booth School of Business.

Lambert has served as Senior Vice President, General Counsel and Secretary of the Company since July 2022.

Most recently, Mr.

Lambert was Vice President and Assistant General Counsel for Polaris Inc., a powersports manufacturing company.

Prior to joining APi, Mr.

Lambert served as vice president, legal, and assistant secretary of Polaris Inc., where he had responsibility for corporate governance, SEC compliance, M&A, executive compensation, and was general counsel for multiple global business units.

Prior to that, Mr.

Lambert held increasingly senior legal roles at 3M Company and then General Mills, where he focused on global M&A, joint ventures, and various general counseling roles.

Lambert began his career as an associate at Faegre & Benson (now Faegre Drinker) in its corporate finance group.

Lambert earned his JD from Rutgers School of Law—Newark and a bachelor’s degree from the University of Michigan in Ann Arbor.

Morton has served as Senior Vice President and Chief People Officer of the Company since February 2022.

Prior to joining the Company, Ms.

Morton served as Vice President, Human Resources, Supply Chain and Global Operations for General Mills.

During her 23-year tenure at General Mills, she also held roles in marketing, sales and supply chain, most recently leading 175 human resources professionals that supported 20,000 employees globally across 45 manufacturing facilities in the U.S.

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Becker is the President and CEO and has served as a director of the Company since October 2019.

Becker joined the Company in 2002 as President and Chief Operating Officer and became Chief Executive Officer in 2004.

Prior to leading the Company, Mr.

Becker served in a variety of roles at The Jamar Company, a subsidiary of the Company, including as a Manager of Construction from 1995 to 1998 and as President from 1998 until 2002.

Becker previously served as a Project Manager for Ryan Companies and as a Field Engineer with Cherne Contracting.

Becker holds a bachelor’s and master’s degree in civil engineering from Michigan Technological University.

Becker also serves on the board of directors for Marvin Companies, a private company and serves on the Advisory Board of the School of Engineering at Michigan Technological University.

Glenn David Jackola has served as Executive Vice President and Chief Financial Officer since March 2025 and previously served as Interim Chief Financial Officer beginning in December 2024.

Prior to assuming these roles, Mr.

Jackola served as Chief Financial Officer and Vice President of Transformation at APi International beginning in November 2022.

From March 2022 to November 2022, he served as Vice President, Controller, and Chief Accounting Officer, and prior to that as Vice President, Corporate Planning and Analysis from October 2021.

Before joining the Company, Mr.

Jackola served as Vice President of Finance - North America at James Hardie Building Products and held finance leadership roles of increasing responsibility, including Vice President of Finance - Europe, at Ecolab.

Jackola holds a bachelor’s degree in economics from Carleton College and a Master of Business Administration in Finance from the University of Chicago Booth School of Business.

Lambert has served as Senior Vice President, General Counsel, and Secretary since joining the Company in July 2022.

Before joining the Company, Mr.

Lambert served as Vice President and Assistant General Counsel at Polaris Inc., where he was responsible for corporate governance, SEC compliance, M&A, executive compensation, and was General Counsel for various global business units.

Previously, Mr.

Lambert served in senior legal roles at 3M Company and General Mills.

Lambert began his career as an associate at Faegre & Benson (now Faegre Drinker).

Lambert earned his bachelor’s degree from the University of Michigan and his Juris Doctor from Rutgers School of Law—Newark.

Morton has served as Senior Vice President and Chief People Officer since she joined the Company in February 2022.

Before joining the Company, Ms.

Morton served as Vice President of Human Resources, Supply Chain, and Global Operations for General Mills.

During her 23-year tenure at General Mills, Ms.

Morton served in several roles in human resources supporting marketing, sales, business units and supply chain, including as Vice President, Human Resources for the Europe and Australia Business Unit based in Switzerland and the Yoplait Business Unit based in France.

Morton earned her bachelor’s degree from the University of St.

Thomas and her master’s degree from the University of Minnesota.

Thomas and her master’s degree in human resources and industrial relations from the University of Minnesota Carlson School of Business.

Kristina also serves as the Chair of the Board of Trustees for the Washburn Center for Children.

Available Information

Our internet website address is www.apigroupcorp.com.

We make available free of charge, through our website, our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, all amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act and proxy statements for our annual meeting of stockholders, as soon as reasonably practicable after each such material is electronically filed with or furnished to the SEC.

We make available free of charge, through our website, our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, all amendments and exhibits to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act and proxy statements for our annual meeting of stockholders, as soon as reasonably practicable after each such material is electronically filed with or furnished to the SEC.

The SEC also makes available at www.sec.gov reports, proxy and information statements and other information filed by issuers with the SEC, such as the Company.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business