What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2026-04-24 compared with 2025-04-24 · 66 added, 81 removed, 142 unchanged (51% of the section changed)

3 unchanged sentences

Segment Information

During the fourth quarter of fiscal 2025, the Company changed the names of two of our reporting segments to better reflect their product focus and capabilities.

The previously named Architectural Framing Systems Segment is now referred to as the Architectural Metals Segment.

The previously named Large-Scale Optical Segment is now referred to as the Performance Surfaces Segment.

There were no changes in the products or brands included within each of the reportable segments, nor the way in which our CEO assesses performance and allocates resources for these or our other segments.

We have four reporting segments:

7 unchanged sentences

In fiscal 2026, this segment accounted for approximately 14% of our net sales.

Our enterprise strategy is based on the following three key elements:

Become the economic leader in our target markets.

We have developed a deep understanding of our target markets and aligned our businesses with clear go-to-market strategies to drive value for our customers through differentiated product and service offerings.

We are focused 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 are shifting our business mix toward higher operating margin offerings in order to improve our return on invested capital performance.

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

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 have established a Company-wide operating system with common tools and processes based on the foundation of Lean and Continuous Improvement, which we call the "Apogee Management System." Our strategy is supported by a robust talent management program and a commitment to strong governance to ensure compliance and drive sustainable performance.

We continually analyze our current portfolio of products, services, and capabilities to identify the best areas for future profitable growth.

Throughout fiscal 2026, we executed the strategy introduced in November 2021, which strengthened our organization through the implementation of the Apogee Management System, drove improvements to our cost structure and manufacturing footprint, and increased leverage of administrative functions across the enterprise.

This strategy also contributed to meaningful safety improvements and a more focused product and service portfolio, leading to margin and profitability improvement.

Building on this foundation, we are refining our strategic framework to further enhance execution and position Apogee as a more growth‑oriented organization with an increased focus on delivering customer value.

Accelerate Leadership in Target Markets.

We intend to enhance our position in targeted end markets by differentiating through deep customer focus and insight, using an informed understanding of customer needs to shape our offerings and delivery models.

By aligning our capabilities, investments, and operating approach around this customer‑focused strategy, we believe we will be better positioned to differentiate, compete effectively, and strengthen our position in the markets we serve.

Grow and Strengthen the Portfolio.

We seek to grow and strengthen our portfolio through disciplined organic and inorganic investments in differentiated solutions that align with evolving customer needs.

By prioritizing opportunities that enhance our competitive positioning and directly address customer challenges, we will reinforce our disciplined approach to portfolio growth and improvement.

Advance Core Capabilities.

We expect to advance core capabilities by fostering a culture of continuous improvement grounded in operational excellence, talent development, and disciplined process execution.

Through targeted investments in people, systems, and technology, we will strengthen our ability to deliver consistent performance and enhance the customer experience across the organization.

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

We also evaluate inorganic investment opportunities where we can deploy capital to acquire businesses that will be accretive to our long-term growth rate and operating margins.

Fiscal 2026 Highlights

In fiscal 2025, we drove further progress toward our strategic goals and financial targets.

We continued the deployment of the Apogee Management System across our business, supporting sustainable cost and productivity improvements.

We invested in organic and inorganic growth initiatives, including the acquisition of UW Interco, LLC (UW Solutions) and capacity expansion in the Performance Surfaces segment as well as capacity expansion to support geographic growth in the Architectural Services segment.

We continue to focus on offering differentiated products and services and diversifying the mix of architectural projects that we serve.

We also advanced several initiatives to strengthen our core capabilities, driving the standardization of key business processes and systems, and strengthening talent management and leadership development programs.

Fiscal 2026 was a year of disciplined execution for Apogee as we navigated a difficult economic environment while continuing to strengthen our operating foundation.

We executed our priorities for the year including:

• The Performance Surfaces Segment successfully integrated the UW Interco, LLC (UW Solutions), acquired in late fiscal 2025, and the business delivered upon the first-year financial targets of $100 million in revenue and adjusted EBITDA margin of at least 20%.

• Apogee Management System (AMS) continued to drive improvements across our manufacturing footprint including enabling progress improving outcomes for customers in the Architectural Metals Segment through full value‑stream redesign, supported by a new product and manufacturing site.

These enhancements drove higher service levels and shorter lead times while reducing cost of quality.

• We actively managed our cost structure and manufacturing footprint through Project Fortify 2 ("Project Fortify Phase 2" or "Phase 2") to mitigate portions of direct and indirect tariffs while driving efficiencies across the organization.

While these decisions were challenging and disruptive, we are confident that the actions will further position Apogee to successfully navigate the market headwinds into the future.

We also delivered meaningful gains in safety, service, and productivity, and generated solid cash flow.

Products and Services

2 unchanged sentences

We also extrude aluminum and provide finishing services for metal components used in a variety of building materials applications.

We sell our products and services under the Tubelite®, EFCO, and Linetec® brands in the U.S.

We sell our products and services under the Tubelite®, EFCO, Wausau and Linetec® brands in the U.S.

and under Alumicor™ in Canada.

Architectural Services Segment

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

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 Architectural Services Segment integrates technical services, project management, and field installation services to design, engineer, fabricate, and install architectural curtainwall and other facade-related systems used primarily in non-residential construction.

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

We sell our products and services under the Harmon® brand.

Architectural Glass Segment

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.

Our Architectural Glass Segment fabricates 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 proprietary, high-performance coatings, digital and silkscreen printing, heat-soaking of tempered glass, and thermal spacers.

We sell our products under the Viracon® and GlassecViracon® brands.

Our premium glass solutions include proprietary, high-performance coatings, digital and silkscreen printing, heat-soaking of tempered glass, and thermal spacers to meet our customers’ design and energy-performance requirements.

We sell our products primarily under the Viracon® and GlassecViracon® brands.

Performance Surfaces Segment

5 unchanged sentences

Demand for the products and services offered by our architectural segments is not only impacted by general economic conditions but has historically been affected by changes in the North American non-residential construction industry, which is cyclical in nature.

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

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

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

1 unchanged sentence

Our sales pipeline, together with ongoing feedback, analysis and data from our customers, architects and building owners, provides information related to near- and mid-term demand.

Additionally, we evaluate data on U.S.

and Canadian non-residential construction market activity, industry analysis, interest rates, and other longer-term trends provided by external data sources.

Our architectural products and services are used in subsets of the non-residential construction industry differentiated by the following factors:

3 unchanged sentences

Our windows, curtainwall, storefront and entrance systems are sold using a combination of direct sales forces, independent sales representatives, and distributors.

Our installation services are sold by a direct sales force in certain metropolitan areas in the U.S and Canada.

Our installation services are sold by a direct sales force in certain metropolitan areas in the U.S.

Our high-performance architectural glass is sold using both a direct sales force and independent sales representatives.

1 unchanged sentence

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.

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

Performance Surfaces Segment

Demand for our products in our Performance Surfaces Segment is impacted by general economic conditions, including consumer confidence, spending in residential improvements, as well as growth in non-residential construction.

We offer value-added coated glass, acrylic, metals, and other substrates used in the custom picture-framing market, museum market, graphic arts and decor markets, and various technical glass applications.

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

Through our ResinDEK brand, we offer engineered panels used in flooring systems designed for material handling, supply chain, and self-storage applications.

These products are sold through a combination of a direct sales force and third-party representatives.

Our RDC Coatings brand offers coating solutions for a variety of applications, that are custom engineered to meet customer specifications.

Markets for these coatings include flooring, furniture, cabinetry, and other applications.

We have a global distribution network and supply our products to customers outside of North America, primarily in Europe and Asia.

Demand for products in the Performance Surfaces Segment is influenced by general economic conditions and activity levels across commercial, institutional, and specialty end markets, as well as broader construction, renovation, and capital spending trends.

Customer purchasing decisions may be affected by budget constraints, timing of projects, and broader market uncertainty, and demand may vary by end market, application, and geographic region.

Products in the Performance Surfaces Segment are sold through a combination of direct sales and third‑party distribution channels, including national and regional retailers, specialty dealers and distributors, independent representatives, and other intermediaries, depending on the product and end market served.

The segment also provides custom‑engineered coating solutions for a variety of applications, including flooring, furniture, cabinetry, and other industrial and architectural end uses.

These coating products are distributed through a global network, with sales outside of North America occurring primarily in Europe and Asia.

Competitive Conditions

4 unchanged sentences

Our Architectural Metals Segment competes against several national, regional, and local aluminum window and storefront manufacturers, as well as regional finishing companies.

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

Businesses within the segment compete by providing a broad portfolio of high-quality products, robust engineering capabilities, a vertically integrated manufacturing model, and dependable, short lead-time service.

Architectural Services Segment

16 unchanged sentences

Within the Architectural Services Segment, materials used include fabricated glass, finished aluminum extrusions, fabricated metal panels and hardware.

Raw materials used within the Architectural Glass Segment include float glass, vinyl, silicone sealants and lumber.

Raw materials used within the Architectural Glass Segment include float glass, vinyl, silicone sealants and lumber for packaging.

Materials used in the Performance Surfaces Segment are float glass, acrylic, aluminum sheets, medium-density fiberboard (MDF), and certain chemicals.

2 unchanged sentences

We have several patents, trademarks, trade names, trade secrets and proprietary technologies and customer relationships that we believe constitute valuable assets, but we do not regard our business as being materially dependent on any single item or category of intellectual property.

We take measures that we believe to be appropriate to protect our intellectual property to the extent such intellectual property can be protected.

We take measures to protect our intellectual property to the extent such intellectual property can be protected.

Activity in the non-residential 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.

18 unchanged sentences

In addition, many of our framing products can be specified with recycled aluminum content.

Our commitment to sustainable business practices and environmental stewardship also extends to our own operations, including incorporating environmentally sustainable manufacturing processes, eliminating waste, and minimizing our resource consumption.

Our commitment to sustainable business practices and environmental stewardship also extends to our own operations, including incorporating environmentally sustainable manufacturing processes, reducing waste, and minimizing our resource consumption.

Human Capital Resources

We had approximately 4,500 employees on March 1, 2025, up from 4,400 employees on March 2, 2024, of which 78% are male and 22% are female.

As of March 1, 2025, approximately 351, or approximately 8%, of our employees are covered by collective bargaining agreements.

We had approximately 4,100 employees on February 28, 2026, down from 4,500 employees on March 1, 2025, of which 77% are male and 23% are female.

As of February 28, 2026, approximately 400, or 10%, of our employees are covered by collective bargaining agreements.

Based on the most recent information available from our latest filing with the U.S.

Equal Employment Opportunity Commission, our U.S employees had the following race and ethnicity demographics:

Equal Employment Opportunity Commission, our U.S.

employees had the following race and ethnicity demographics:

Employee Demographic Percent of Total

10 unchanged sentences

In fiscal 2026, we continued to improve our enterprise-wide health and safety program, which centralizes oversight of workplace safety and actively shares best practices across our business.

Our Apogee Safety Council meets regularly to review facility-level performance, maintain our policies, and provide short and long-term plans to achieve our ambition of achieving an incident rate of zero.

Our Apogee Safety Council meets regularly to review facility-level performance, maintain our policies, and implement short and long-term plans to lower safety-related incidents.

We utilize a safety culture assessment process along with safety compliance audits to monitor safety programs within our businesses and regularly share best practices.

1 unchanged sentence

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.

Our leadership team and Board of Directors are briefed regularly on our health and safety performance metrics.

Our leadership team and Board of Directors (the Board) are briefed regularly on our health and safety performance metrics.

We offer comprehensive health and wellness programs for our employees.

19 unchanged sentences

These reports are also available on the SEC's website at www.sec.gov.

Also available on our website are various corporate governance documents, including our Code of Business Ethics and Conduct, Corporate Governance Guidelines, and charters for the Audit, Compensation, and Nominating and Corporate Governance Committees of the Board of Directors (the Board).

INFORMATION ABOUT OUR EXECUTIVE OFFICERS

Name Age Positions with Apogee Enterprises and Past Experience

Silberhorn 57 Chief Executive Officer (CEO) of the Company since January 2021.

Prior to joining the Company, Mr.

Silberhorn worked for 3M, a diversified global manufacturer and technology company, most recently serving as Senior Vice President of 3M's Transformation, Technologies and Services from April 2019 through December 2020.

Prior to this position and since 2001, he held several 3M global business unit leadership roles, serving as Vice President and General Manager for divisions within Safety & Industrial, Transportation & Electronics, and the Consumer business groups.

Matthew Osberg

49 Executive Vice President and Chief Financial Officer of the Company since April 2023.

Prior to joining the Company, Mr.

Osberg served as Chief Financial Officer at Helen of Troy Limited, a global consumer products company.

Previously, Mr.

Osberg worked in finance roles at Best Buy Co., Inc.

and Ernst & Young LLP.

Raelyn Trende

49 Executive Vice President and Chief Human Resources Officer since July 2024.

Trende joined the Company from Medtronic where she served as Vice President of Global Talent Acquisition, Human Resources Technology, Analytics, and Project Management Office.

Prior to Medtronic, Ms.

Trende was Senior Vice President of Human Resources for OptumHealth, a subsidiary of UnitedHealth Group.

In addition, Ms.

Trende served in several human resources leadership roles at Target Corporation and Cargill.

Elliott 48 Vice President, Chief Legal Officer, and Secretary of the Company since June 2020.

Prior to this role, Ms.

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

Prior to joining the Company, Ms.

Elliott was a partner with Lindquist & Vennum, PLLP (n/k/a Ballard Spahr LLP).

Longman 53 President of Apogee's Architectural Metals Segment since October 2023.

Nolan 65 Chief Executive Officer (CEO) and Executive Chair of the Board of Directors of the Company since October 2025.

Nolan has served on the Board since 2013 and served as Chair since 2020.

Prior to this role, Mr.

Longman served as President of Apogee's Architectural Glass segment from June 2021 to October 2023.

Nolan served as President and Chief Executive Officer of Kennametal Inc., President of the Materials Group for Avery Dennison Corporation, and as Senior Vice President of Global Packaging and Refinish Coatings at Valspar, a developer, manufacturer and distributor of paints and coatings.

Before joining Valspar, he held leadership positions of increasing responsibility with Loctite, General Electric and Ashland Chemical.

Augdahl 60 Executive Vice President and Chief Financial Officer of the Company since January 2026.

Prior to his current role, Mr.

Augdahl held several senior finance leadership positions within the Company over the past 20 years, including Chief Accounting Officer from 2023 to 2025, Interim Chief Financial Officer from 2022 to 2023, Vice President of Finance for two of the Company’s segments from 2012 to 2022, and Corporate Controller from 2004 to 2012.

Welp 50 Vice President, General Counsel since February 2026.

Prior to this role, Mr.

Welp served as Assistant General Counsel for Apogee's Architectural Metals Segment.

Prior to joining the Company, Mr.

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.

Johnson 51 President of Apogee’s Architectural Services Segment since March 2020.

Welp was a litigator with Lindquist & Vennum, PLLP (n/k/a Ballard Spahr LLP).

Johnson 52 President of Apogee's Architectural Metals Segment since August 2025.

Prior to this role, Mr.

Johnson served in several leadership roles in the Architectural Services Segment.

Johnson served in several leadership roles in the Architectural Services Segment, including Segment President beginning in March 2020.

Matthew Christian 44 President of Apogee’s Architectural Services Segment since August 2025.

Prior to this role, Mr.

Christian served as the Vice President, Products in the Architectural Metals Segment.

Prior to that, he spent more than 19 years in the Architectural Services Segment.

Jewell 52 President of Apogee's Architectural Glass Segment since October 2023.

Prior to this role, Mr.

Jewell served as President of Apogee's Architectural Metals Segment from August 2019 to October 2023, and as Senior Vice President, Business Development and Strategy for the Company from May 2018 to August 2019.

Jewell held several leadership positions within the Company including, President of the Architectural Metals Segment from 2019 to 2023 and Senior Vice President, Business Development and Strategy from 2018 to 2019.

Prior to joining the Company, Mr.

Jewell served in multiple Senior leadership positions at Valspar, a developer, manufacturer and distributor of paints and coatings, from 2010 to 2017.

Jewell served in multiple senior leadership positions at Valspar from 2010 to 2017.

Veena Lakkundi

3 unchanged sentences

Previously, Ms.

Lakkundi served at Senior Vice President and Chief Strategy Officer at 3M Company along with other key leadership positions across 3M.

Lakkundi served in key leadership positions across 3M Company including Senior Vice President and Chief Strategy Officer at 3M 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