What changed in this filing

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Item 1. Business

2022-04-22 compared with 2021-04-22 · 93 added, 91 removed, 113 unchanged (62% of the section changed)

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(Apogee, the Company or we) was incorporated under the laws of the State of Minnesota in 1949.

We are a leader in the design and development of architectural building products and services.

We are a leading provider of architectural products and services for enclosing buildings, and high-performance glass and acrylic products used in applications for preservation, protection and enhanced viewing.

Our Company has four reporting segments, with three of the segments serving the commercial construction market:

• The Architectural Framing Systems segment designs, engineers, fabricates and finishes aluminum window, curtainwall, storefront and entrance systems comprising the exterior of buildings.

• The Architectural Framing Systems segment designs, engineers, fabricates and finishes aluminum window, curtainwall, storefront and entrance systems for the exterior of buildings.

In fiscal 2022, this segment accounted for approximately 45 percent of our net sales.

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In fiscal 2022, this segment accounted for approximately 27 percent of our net sales.

• The Large-Scale Optical Technologies (LSO) segment manufactures value-added coated glass and acrylic products for custom framing, museum, and technical glass markets.

• The Large-Scale Optical Technologies (LSO) segment manufactures high-performance glass and acrylic products for custom framing, museum, and technical glass markets.

In fiscal 2022, this segment accounted for approximately 8 percent of our net sales.

Our strategy is to diversify revenue streams within the commercial construction industry, providing revenue growth and profit generation over an economic cycle, and utilize our capabilities to enter adjacent segments.

We work to diversify end markets served through growth from new geographies, new products and new market segments, while working to improve margins through productivity, integration, project selection and rigorous cost management.

In an effort to drive growth and reduce our exposure to the cyclical nature of the large-building segment of the commercial construction industry, we are working to expand our capabilities to serve small- and mid-sized projects across our architectural segments and working to expand our North American geographic reach.

Specifically over the past fiscal year, in the Architectural Framing Systems segment, our focus was to drive margin improvement through increased productivity, cost management, integration, supply chain optimization, and new product development.

In the Architectural Glass segment, we began operation of our new fabrication facility designed to serve small-sized and quick-turn projects in Dallas, Texas.

In the Architectural Services segment, our emphasis is to generate consistent margins through focused project selection and execution, while continuing to deliver long-term organic growth through targeted geographic expansion.

Within the LSO segment, we are working to grow in new channels, markets and geographies that desire the value-added properties that our glass and acrylics products provide.

Across all our segments, we regularly evaluate business development opportunities in adjacent sectors that will complement our existing portfolio.

Finally, we are constantly working to improve the efficiency and productivity of our operations by implementing continuous improvement, lean manufacturing principles and automation where we can achieve solid return on investment.

In fiscal 2022, we conducted a holistic strategic review of our business and the markets we serve.

This review included extensive input from customers and industry influencers, along with detailed competitive benchmarking.

We analyzed our portfolio of products, services, and capabilities to identify the best areas for future growth.

We also evaluated our operating model to ensure we have the organizational structure and capabilities needed to deliver consistent profitable growth.

Through this work, we validated the Company’s strengths that we can leverage as we move forward.

We also identified several challenges facing the Company and opportunities for improved performance.

Following this review, we established a new enterprise strategy, with three key elements:

Become the economic leader in our target markets.

We will achieve this by developing a deep understanding of our target markets and aligning our businesses with clear go-to-market strategies to drive value for our customers through differentiated product and service offerings.

We will also build a relentless focus on operational execution, driving productivity improvements, and maintaining a competitive cost structure, so that we may bring more value to our customers and improve our own profitability.

Actively manage our portfolio to drive higher margins and returns.

We intend to shift our business mix toward higher operating margin offerings and improve our return on invested capital performance.

We will accomplish this by allocating resources to grow our top performing businesses, actively addressing underperforming businesses, and investing to add new differentiated product and service offerings to accelerate our growth.

Strengthen our core capabilities.

We are shifting from our historical, decentralized operating model, to one with center-led functional expertise that enables us to leverage the scale of the enterprise to better support the needs of the business.

We are establishing a Company-wide operating system with common tools and processes that are based on the foundation of Lean and Continuous Improvement.

This will be supported by a robust talent management program and a commitment to strong governance to ensure compliance and drive sustainable performance.

During the fiscal year, we began to implement our new strategy, building significant momentum in the transformation of our business.

We realigned Architectural Framing Systems to better leverage the scale and capabilities of the organization, and to bring more clarity and focus in our go-to-market approach.

We refocused Architectural Glass to emphasize differentiated, high value-added products.

We also announced our intention to move the Sotawall business into Architectural Services, beginning in fiscal 2023, to create a single, unified offering for larger custom curtainwall projects.

During the fiscal year, we began several enterprise transformation initiatives designed to strengthen core processes and systems and provide new capabilities across several functional areas.

Finally, we relaunched our Lean and Continuous Improvement program, adding key talent and developing a set of tools and processes that we will use to drive improved performance across the enterprise.

We plan to continue to execute this strategy over the next several years.

To measure our progress, we have established three consolidated enterprise financial targets, which we expect to achieve by the end of fiscal year 2025:

• Return on Invested Capital (ROIC)* greater than 12 percent,

• operating margin greater than 10 percent,

• and revenue growth greater than 1.2 times the overall non-residential construction market.

*ROIC is a non-GAAP measure.

See discussion of non-GAAP measures within the Overview section of Management's Discussion and Analysis.

Products and Services

Architectural Framing Systems, Architectural Glass and Architectural Services segments

These three segments serve the commercial construction industry and participate in various phases of the value stream to design, engineer, fabricate and install custom glass and aluminum window, curtainwall, storefront and entrance systems comprising the exterior of buildings, primarily in the commercial, institutional and multi-family residential construction sectors.

Within our Architectural Framing Systems segment, we design, engineer and fabricate aluminum window, curtainwall, storefront and entrance systems.

These three segments primarily serve the construction industry and participate in various phases of the value stream to design, engineer, fabricate and install custom glass and aluminum window, curtainwall, storefront and entrance systems for the exterior of buildings, primarily in the commercial, institutional, and multi-family residential construction sectors.

Our Architectural Framing Systems segment designs, engineers and fabricates aluminum window, curtainwall, storefront and entrance systems.

We also extrude aluminum and provide finishing services for metal components used in a variety of building materials applications, as well as plastic components for other markets.

In our Architectural Glass segment, we fabricate coated glass and apply high-performance coatings to uncoated glass to create a variety of aesthetic characteristics, unique designs and energy-efficient qualities.

We also laminate and temper layers of glass and vinyl for protection and strength against hazards such as severe weather and blasts.

Much of our high-performance glass is

made-to-order and is typically fabricated into insulating and/or laminated glass units for window, curtainwall, storefront or entrance systems.

Our Architectural Services segment delivers value by integrating technical capabilities, project management skills and field installation services, to provide design, engineering, fabrication and installation services for the exteriors of commercial buildings.

Our Architectural Glass segment provides a wide range of high-performance glass products, offering customized solutions that enable architects and building owners to meet their design, aesthetic, and performance goals.

We fabricate insulating, laminated, and monolithic glass units that are used in windows, curtainwall, storefront, and entrance systems.

We provide premium glass solutions to meet our customers’ design and energy-performance requirements.

These include propriety, high-performance coatings, digital printing, heat soaking of tempered glass, and thermal spacers.

Our ability to efficiently design high-quality window and curtainwall systems and effectively manage the installation of building façades enables our customers to meet schedule and cost requirements of their projects.

Our product and service offerings across these architectural segments allow architects to create distinctive looks for buildings such as office towers, hotels, education and athletic facilities, health care facilities, government buildings, retail centers, mixed use and multi-family residential buildings, while also meeting functional requirements such as energy efficiency, hurricane, blast and other impact resistance and/or sound control.

Many of our architectural products and services help architects, developers, and building owners achieve their energy-efficiency and sustainability goals, by improving energy performance, thereby reducing greenhouse gas emissions, providing daylight and natural ventilation, and increasing comfort and safety for occupants.

Our product and service offerings across these architectural segments allow architects to create distinctive looks for buildings such as health care facilities, government buildings, office towers, hotels, education and athletic facilities, retail centers, transportation centers, mixed use and multi-family residential buildings.

Our solutions also help meet functional requirements such as energy efficiency, hurricane, blast and other impact resistance and/or sound control.

With respect to sustainability, many of our architectural products and services help architects, developers, and building owners achieve their energy-efficiency and sustainability goals by improving energy performance, thereby reducing greenhouse gas emissions, providing daylight and natural ventilation, and increasing comfort and safety for occupants.

These products include high-performance thermal framing systems, energy efficient glass coatings, and sun control products such as sunshades and light shelves.

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We look at several external indicators to analyze potential demand for our products and services, such as U.S.

and Canadian job growth, office vacancy rates, credit and interest rates available for commercial construction projects, architectural billing statistics and material costs.

and Canadian job growth, office vacancy rates, credit and interest rates, architectural billing statistics, and material costs.

We also rely on internal indicators to analyze demand, including our sales pipeline, which is made up of contracts in review, projects awarded or committed, and bidding activity.

Our sales pipeline, together with ongoing feedback, analysis and data from our customers, architects and building owners, provide visibility into near- and medium-term future demand.

Our sales pipeline, together with ongoing feedback, analysis and data from our customers, architects and building owners, provide visibility into near- and medium-term demand.

Additionally, we evaluate data on U.S.

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• Geographic location - We primarily supply architectural glass products and aluminum framing systems, including window, curtainwall, storefront and entrance systems, to customers in North America.

We are one of only a few

architectural glass installation service companies in the U.S.

to have a national presence and we have the ability to provide remote installation project management throughout the U.S.

We are one of only a few architectural glass installation service companies in the U.S.

to have a national presence and we have the ability to provide installation project management throughout the U.S.

Our Architectural Glass segment also supplies architectural glass products to customers in Brazil and certain other international locations.

In our LSO segment, we have a leading brand of value-added coated glass and acrylic used in the custom picture-framing market and museum market.

Under the Tru Vue brand, products are sold primarily in North America through national and regional retail chains using a direct sales force, as well as through local retailers using an independent distribution network.

We also supply our glass, acrylic and other products to museums, galleries and other organizations in Europe and other international locations through independent distributors.

In our LSO segment, we have a leading brand of value-added coated glass and acrylic used in the custom picture-framing market, museum market, and various technical glass applications.

Under the Tru Vue brand, products are sold primarily in North America through national and regional retail chains using a direct sales force, as well as to local retailers through an independent distribution network.

We have a global distribution network and also supply our products to museums, galleries and other customers in Europe, Asia and other international locations.

Competitive Conditions

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The North American commercial construction market is highly fragmented.

Competitive factors include price, product quality, product attributes and performance, reliable service, on-time delivery, lead-time, warranty and the ability to provide project management, technical engineering and design services.

To protect and enhance our competitive position, we maintain strong relationships with building owners and architects, who influence the selection of products and services on a project, and with general contractors, who initiate projects and develop specifications.

There is a great deal of competition in the North American commercial window and storefront manufacturing industry, and our Architectural Framing Systems segment competes against several national, regional and local aluminum window and storefront manufacturers, as well as regional paint and anodizing finishing companies.

Our businesses compete by providing high-quality products, innovation, reliable on-time delivery and short lead times.

In our Architectural Glass segment, we experience competition from regional glass fabricators who can provide certain products with attributes similar to our products.

Within the market sector for large, complex projects, we encounter competition from international companies and large regional fabricators, some of which have benefited from the relative strength of the U.S.

dollar and lower fabrication costs in recent years.

We differentiate ourselves by providing high-quality, innovative and customizable products, short lead times, and strong customer service.

Competitive factors include price, product quality, product attributes and performance, reliable service, on-time delivery, lead-time, warranties and the ability to provide project management, technical engineering and design services.

To protect and improve our competitive position, we maintain strong relationships with building owners, architects, and other stakeholders who influence the selection of products and services on a project, and with general contractors, who initiate projects and develop specifications.

Our Architectural Framing Systems segment competes against several national, regional and local aluminum window and storefront manufacturers, as well as regional paint and anodizing finishing companies.

Our businesses compete by providing a broad portfolio of high-quality products, robust engineering capabilities, and dependable, short lead-time service.

In our Architectural Glass segment, we experience competition from regional glass fabricators and international competitors who can provide certain products with attributes similar to ours.

We differentiate by providing a wide range of high-quality products, including several proprietary offerings, that we can bundle together into customized solutions.

We maintain strong relationships with architects, developers, and other industry stakeholders, and provide strong customer service and reliable delivery.

Our Architectural Services segment competes against national and regional glass installation companies.

We distinguish ourselves from these competitors through our strong project management and our track record of regularly meeting each project's unique execution requirements.

Product attributes, price, quality, marketing and service are the primary competitive factors in the LSO segment.

Our competitive strengths include our excellent relationships with customers, innovative marketing programs and the performance of our value-added products.

We compete with certain European and U.S.

valued-added glass and acrylic companies.

We compete by offering a robust set of capabilities at a competitive cost.

Our capabilities include preconstruction services, engineering and design, project management, manufacturing, and field installation.

We deliver these services using an operating model which reduces costs and risks for our customers, and we’ve established a track record of regularly meeting each project's unique execution requirements.

Our LSO segment competes with European and U.S.

providers of both basic and valued-added glass and acrylic.

Our competitive strengths include innovative proprietary products and process technologies, a highly automated manufacturing model, innovative marketing programs, strong relationships with our customers, and an established distribution network.

We offer product and service warranties that we believe are competitive for the markets in which our products and services are sold.

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Most of our raw materials are readily available from a variety of domestic and international sources.

Trademarks and Patents

We have several trademarks and trade names that we believe have significant value in the marketing of our products, including APOGEE ® .

Trademark registrations in the U.S.

are generally for a term of 10 years, renewable every 10 years as long as the trademark is used in the regular course of trade.

Within the Architectural Framing Systems segment, LINETEC®, WAUSAU WINDOW AND WALL SYSTEMS ® , TUBELITE ® , ADVANTAGE BY WAUSAU ® , 300ES ® , FINISHER OF CHOICE ® , THERML=BLOCK ® , MAXBLOCK ® ,

DFG ® , ECOLUMINUM ® , ALUMINATE ® , GET THE POINT!

® , FORCEFRONT ® , SOTAWALL ® , SOTA ® , HYBRID-WALL ® , EFCO ® , TERRASTILE ® , THERMASTILE ® , TRIPLE SET ® , ULTRADIZE ® , ULTRAFLUR ® , ULTRALINE ® , ULTRAPON ® and XTHERM ® are registered trademarks.

CUSTOM WINDOW™, INVENT™, INVENT.PLUS™, INVENT RETRO™, INVISION™, CLEARSTORY™, EPIC™, HERITAGE™, VISULINE™, SEAL™, SUPERWALL™, CROSSTRAK™, HP-Wall™, VersaTherm™, E-Strut™, E-Shade™, E-Lite™, Series 960 Wall™, Durastile™ and X Force™ are unregistered trademarks.

ALUMICOR™, BUILDING EXCELLENCE™, TerraPorte 7600 Out-Swing accessABLE™, ThermaSlide™ 7000, Integra 6000™, ThermaSlide™ and SecureSash™ are unregistered trademarks in Canada.

Within the Architectural Glass segment, VIRACON ® , DIGITALDISTINCTIONS ® , ROOMSIDE ® , GLASS IS EVERYTHING ® , CLEARPOINT ® , CYBERSHIELD ® , STORMGUARD ® , ACCELERATING YOUR ARCHITECTURAL GLASS ® , VELOCITY, AN APOGEE COMPANY ® and VTS ® are registered trademarks.

VIRASPAN™ is an unregistered trademark.

In addition, GLASSECVIRACON ® , GLASSEC ® , INSULATTO ® and GV PRIME ® are registered trademarks in Brazil.

Within the Architectural Services segment, HARMON ® , H DESIGN ® , HARMON GLASS ® , HI-7000 ® , and BUILDING TRUST IN EVERYTHING WE DO ® are registered trademarks.

UCW-8000™, HI-8500™, HI-9000™, SMU-6000™ and HPW-250™ are unregistered trademarks.

Within the LSO segment, TRU VUE ® , CONSERVATION CLEAR ® , CONSERVATION REFLECTION CONTROL ® , ULTRAVUE ® , MUSEUM GLASS ® , OPTIUM ® , PREMIUM CLEAN ® , REFLECTION CONTROL ® , AR REFLECTION-FREE ® , OPTIUM ACRYLIC ® , OPTIUM MUSEUM ACRYLIC ® , CONSERVATION MASTERPIECE ® , CONSERVATION MASTERPIECE ACRYLIC ® , TRU VUE AR ® , STATICSHIELD®, TRULIFE ® , and VISTA AR ® are registered trademarks.

TRULIFE INFINITY FRAME™, PREMIUM CLEAR ™ , THE DIFFERENCE IS CLEAR™ and TRU FRAMEABLE MOMENTS™ are unregistered trademarks and TRUBARRIER ™ is pending federal registration.

We have several patents pertaining to our glass coating methods and products, for hybrid window wall/curtainwall systems and methods of installation, and for our UV coating and etch processes for anti-reflective glass for the picture framing industry and fine art market.

Despite being a point of differentiation from our competitors, no single patent is considered to be material.

Intellectual Property

We have several patents, trademarks, trade names, trade secrets and proprietary technologies and customer relationships that we believe, in the aggregate, constitute a valuable asset.

However, we do not believe that our business is materially dependent on any individual patent, trademark or other intellectual property asset.

Activity in the construction industry is impacted by the seasonal impact of weather and weather events in our operating locations, with activity in some markets reduced in winter due to inclement weather.

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Backlog is not a term defined under U.S.

GAAP and is not a measure of contract profitability.

generally accepted accounting principles (GAAP) and is not a measure of contract profitability.

In addition to backlog, we have a substantial amount of projects with short lead times that book-and-bill within the same reporting period and are not included in backlog.

We have good visibility beyond backlog, as projects awarded, verbal commitments and bidding activities are not included in backlog.

Architectural Framing Systems segment backlog as of year-end was $411.3 million, compared to $429.6 million at the end of the prior year, reflecting a decline in order volume.

Architectural Framing Systems segment backlog as of fiscal year-end was $428.7 million, compared to $411.3 million at the end of the prior year, reflecting an increase in order volume.

We expect approximately 78 percent of the backlog in this segment to be fulfilled in fiscal 2023, with the remainder expected to be filled in fiscal 2024 and beyond;

however, the timing of backlog may be impacted by project delays.

Architectural Glass segment backlog as of year-end was $43.5 million, net of intersegment eliminations, compared to $31.0 million at the end of the prior year, due to extended lead times and order activity.

We expect this backlog to be fulfilled in fiscal 2022.

Backlog in the Architectural Services segment as of year-end was $570.9 million, compared to $659.7 million at the end of the prior year, due to timing of firm orders, signed contracts and the broader industry slow-down that occurred in fiscal 2021.

Backlog is not a significant metric for the Architectural Glass segment, as orders are typically booked and billed within a short time-frame.

Backlog in the Architectural Services segment as of fiscal year-end was $517.7 million, compared to $570.9 million at the end of the prior year, due to execution of projects in backlog, timing of firm orders, and signed contracts.

We expect approximately 61 percent of the backlog in this segment to be filled during fiscal 2023, with the remainder expected to be filled in fiscal 2024 and beyond;

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Compliance with Government Regulations

We are subject to extensive regulation under environmental and occupational safety and health laws and regulations in the United States and in other countries in which we operate.

We are subject to various environmental and occupational safety and health laws and regulations in the United States and in other countries in which we operate.

These laws and regulations relate to, among other things, our use and storage of hazardous materials in our manufacturing operations and associated air emissions and discharges to surface and underground waters.

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These remediation activities are being conducted without significant disruption to our operations.

Impact of COVID-19 on Our Business

The ongoing COVID-19 pandemic continues to cause uncertainty in global markets.

During fiscal 2021, we experienced delays in commercial construction projects and orders because of COVID-19 and other disruptions to our business, including various physical distancing and health-related precautions, and we were required to close operations at two facilities in our LSO segment for a portion of the year due to governmental orders.

Earlier in the pandemic, we were impacted by quarantine-related absenteeism among our production workforce, resulting in labor constraints at some of our facilities.

While our efforts to mitigate the impacts of the pandemic have evolved positively, the extent to which COVID-19 will continue to impact our business will depend in part on the effectiveness of ongoing public health initiatives, which have been buoyed by vaccine production and distribution.

In response to this pandemic, we took several cost actions, including a merit and hiring freeze, temporary pay reductions, temporary suspension of the Company's 401(k) matching program, and made short term reductions in capital expenses, while emphasizing spending controls across the company.

These temporary cost actions were mostly lifted during the fourth quarter of fiscal 2021.

Human Capital Resources

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labor unions.

Competition for qualified employees in the markets and industries in which we operate is strong, and the success of our Company depends on our ability to attract, select, develop and retain a productive and engaged workforce.

Competition for qualified employees in the markets and industries in which we operate is intense, and the success of our Company depends on our ability to attract, select, develop and retain a productive and engaged workforce.

Investing in our employees and their well-being, offering competitive compensation and benefits, promoting diversity and inclusion, and adopting positive human capital management practices are critical components of our corporate strategy.

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Providing a safe and secure work environment is one of our highest priorities and we devote significant time and resources to workplace safety.

Our safety program is directed by our Risk Roundtable, comprised of safety leaders from across our Company.

This group meets quarterly to review safety performance, share best practices, set goals and objectives for the organization, and plan safety culture assessments.

In support of our safety efforts, we identify, assess and investigate incidents and injury data, and each year set goals to improve key safety performance indicators.

We train, promote, consult and communicate with our workforce during this process.

We offer a comprehensive health and wellness program for our employees.

Our safety programs are designed to comply with stringent regulatory requirements and to meet or exceed best practices in our industry.

This commitment requires focus and dedication to fundamental aspects of our business to minimize the risk of accidents, injury, and exposure to health hazards.

We utilize a safety culture assessment process along with a safety compliance audits to monitor safety programs within our businesses.

These assessments and audits provide suggestions for continuous improvement in safety programs and measure employee engagement.

In addition, the programs encourage the development of a proactive, inter-dependent safety culture in which leadership and employees interact to ensure safety is viewed as everyone’s responsibility.

We offer comprehensive health and wellness programs for our employees.

In addition to standard health programs including medical insurance and preventive care, we have a variety of resources available to employees relating to physical and mental wellness.

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In response to the pandemic, we have taken actions consistent with recommendations of the U.S.

Centers for Disease Control and Prevention to protect our workforce.

We will continue to emphasize the health and safety of our employees going forward.

Centers for Disease Control and Prevention and other local, state, and federal government agencies, to protect our employees.

Diversity, Equity and Inclusion

Our diversity, equity and inclusion program promotes a workplace where each employee’s abilities are recognized, respected, and utilized to further the Company’s goals.

Our aim is to create an environment where people feel included as a part of a team

because of their diversity of outlooks, perspectives, and characteristics, which ultimately adds value for our company.

Our aim is to create an environment where people feel included as a part of a team because of their diversity of outlooks, perspectives, and characteristics, which ultimately adds value for our Company.

We strive to create a culture of inclusion, reduce bias in our talent practices, and invest in and engage with our communities.

We conduct diversity and code of conduct trainings with employees and managers to promote an inclusive and diverse workplace, where all individuals feel respected and part of a team regardless of their race, national origin, ethnicity, gender, age, religion, disability, sexual orientation or gender identity.

We conduct diversity and code of conduct trainings with employees and managers to make clear our views on diversity and promote an inclusive and diverse workplace, where all individuals feel respected and part of a team regardless of their race, national origin, ethnicity, gender, age, religion, disability, sexual orientation or gender identity.

Talent Management and Development

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Curtis Dobler 56 Executive Vice President and Chief Human Resources Officer since April 2019.

Executive Vice President and Chief Human Resources Officer at Associated Materials, Inc., a manufacturer and distributor of exterior residential building products, from 2015 through 2019.

Prior to joining the Company, Mr.

Dobler served as Executive Vice President and Chief Human Resources Officer at Associated Materials, Inc., a manufacturer and distributor of exterior residential building products, from 2015 through 2019.

Elliott 45 Vice President, General Counsel and Secretary of the Company since June 2020.

Prior to this role, Ms.

Elliot served as Assistant General Counsel for the Company since 2014.

Elliott served as Assistant General Counsel for the Company since 2014.

Nisheet Gupta 47 Executive Vice President and Chief Financial Officer of the Company since June 2020.

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Prior to joining Land O’ Lakes, Mr.

Gupta worked at Diebold Nixdorf, a banking solutions and retail technology systems company, as Vice President, Finance, Global Transformation from 2016 to 2017, Vice President, Finance and Chief Financial Officer, International from 2014 to 2016 and in various roles of increasing responsibility in Diebold Nixdorf’s financial organization, from 2011 to 2014.

Maureen Hayes 58 Chief Information Officer of the Company since 2012.

Gupta worked at Diebold Nixdorf, a banking solutions and retail technology systems company, holding various finance roles of increasing responsibility in Diebold Nixdorf’s financial organization, from 2011 to 2017.

Johnson 60 Senior Vice President of the Company since 2018, Treasurer and Vice President since 2001 and an employee of the Company since 1995.

Sachs 51 Chief Procurement Officer of the Company since January 2020.

Jewell 47 President of Architectural Framing Systems segment since August 2019.

Prior to this role, Mr.

Jewell served as Senior Vice President, Business Development and Strategy for the Company from May 2018 to August 2019 and in Senior leadership positions at Valspar, a developer, manufacturer and distributor of paints and coatings, from 2010 to 2017.

Johnson 48 President of Apogee’s Architectural Services segment (Harmon) since March 2020.

Prior to this role, Mr.

Johnson served in several leadership roles in the Architectural Services segment since 2011.

Longman 50 President of the Architectural Glass segment since June 2021.

Prior to joining the Company, Mr.

Sachs served as Chief Procurement Officer at Resideo Technologies, Inc., a provider of critical comfort, residential thermal solutions and security solutions, from 2018 through 2020, and previously worked for Honeywell International, Inc.

as Chief Procurement Officer from 2016 through 2018 and as Global Vice President of Sourcing from 2014 through 2016.

Longman served as Chief Executive Officer and Chief Operating Officer for Harvey Building Products, a manufacturer of windows, doors and accessory products, from March 2018 to November 2020 and in various functional and business leadership roles at Colfax Fluid Handling, a diversified technology company, from 2012 to 2018.

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