18 unchanged sentences
Further, because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud, if any, have been detected.
−Removed: The design of any system of controls is based in part on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.
+Added: The design of any system of controls is based in part on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in
+Added: achieving its stated goals under all potential future conditions.
Projections of any evaluation of the effectiveness of controls to future periods are subject to risks.
1 unchanged sentence
Other Information
−Removed: Subsequent Event
−Removed: On August 25, 2021, our Board of Directors approved a restructuring plan to further reduce operating costs and improve profitability.
−Removed: We estimate the restructuring charges, consist of one-time severance charges, will be
−Removed: approximately $ 0.8 million to be recorded in the first quarter of fiscal 2022.
−Removed: We anticipate it will generate approximately $ 0.6 million in annual net savings, the majority of which will be allocated to support growth-related initiatives to be in a stronger position to drive both top- and bottom- line performance.
+Added: Not applicable.
+Added: Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
+Added: Not applicable.
Certain information required by Part III is omitted from this Annual Report on Form 10-K because we will file a definitive Proxy Statement with the SEC within 120 days after the end of our fiscal year ended July 1, 2022.
6 unchanged sentences
Executive Compensation
−Removed: Information regarding our executive compensation will appear in our definitive Proxy Statement and is incorporated herein by reference.
+Added: Information regarding our executive and director compensation will appear in our definitive Proxy Statement and is incorporated herein by reference.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
17 unchanged sentences
AVIAT NETWORKS, INC.
−Removed: August 25, 2021 By:
−Removed: /s/ Eric Chang
−Removed: Senior Vice President, Chief Financial Officer
+Added: September 14, 2022 By:
+Added: Senior Vice President and Chief Financial Officer
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
1 unchanged sentence
Smith President and Chief Executive Officer
−Removed: (Principal Executive Officer) August 25, 2021
−Removed: /s/ Eric Chang Senior Vice President, Chief Financial Officer
−Removed: (Principal Financial Officer and Principal Accounting Officer) August 25, 2021
−Removed: /s/ John Mutch Chairman of the Board August 25, 2021
−Removed: /s/ Michele Klein Director August 25, 2021
+Added: (Principal Executive Officer) September 14, 2022
+Added: Gray Senior Vice President and Chief Financial Officer
+Added: (Principal Financial Officer and Principal Accounting Officer) September 14, 2022
+Added: /s/ John Mutch Chairman of the Board September 14, 2022
+Added: /s/ Bryan Ingram Director September 14, 2022
+Added: /s/ Michele Klein Director September 14, 2022
Michele Klein
−Removed: /s/ Kenneth Kong Director August 25, 2021
−Removed: /s/ Dahlia M.
−Removed: Loeb Director August 25, 2021
−Removed: /s/ John Quicke Director August 25, 2021
−Removed: Stoffel Director August 25, 2021
+Added: /s/ Somesh Singh Director September 14, 2022
+Added: Stoffel Director September 14, 2022
+Added: /s/ Bruce Taten Director September 14, 2022
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS
AVIAT NETWORKS, INC.
−Removed: Years Ended July 2, 2021, July 3, 2020 and June 28, 2019
+Added: Years Ended July 1, 2022, July 2, 2021 and July 3, 2020
(In thousands) Balance at
5 unchanged sentences
Year ended July 2, 2021 $ 1,841 $ 300 $ — $ 2,141
−Removed: Year ended June 28, 2019 $ 1,588 $ 120 $ 106 (2)
+Added: Year ended July 3, 2020 $ 1,602 $ 248 $ 9 (1)
____________________________
(1) - Consisted of changes to allowance for collection losses of $ 0 for foreign currency translation gain and $ 9 thousand for uncollectible accounts charged off, net of recoveries on accounts previously charged off.
−Removed: (2) - Consisted of changes to allowance for collection losses of $ 0 for foreign currency translation gain and $ 107 thousand for uncollectible accounts charged off, net of recoveries on accounts previously charged off.
EXHIBIT INDEX
4 unchanged sentences
(incorporated by reference to Exhibit 3.
−Removed: 1 to the Current Report on Form 8-K filed with the SEC on September 24, 2020 , File No.
+Added: 1 to the Current Report on Form 8-K filed with the SEC on August 23 , 202 2 , File No.
Certificate of Designation of Rights, Preferences and Privileges of Series A Participating Preferred Stock (incorporated by reference to Exhibit 3.2 to the Current Report on Form 8-K filed with the SEC on September 7, 2016.
Specimen common stock certificate, adopted as of January 29, 2010 (incorporated by reference to Exhibit 4.1.1 to the Annual Report on Form 10-K for fiscal year end July 2, 2010 filed with the SEC on September 9, 2010, File No.
−Removed: Amen d ed and Restated T ax Benefit Preservation Plan, dated as of August 27 , 2020, by and between Aviat Networks, Inc.
−Removed: and Computershare Inc., as Rights Agent (incorporated by reference to E xhibit 4.1 to the Current Report on Form 8-K filed with the SEC on August 31 , 2020, File No.
+Added: Amended and Restated Tax Benefit Preservation Plan, dated as of August 27, 2020, by and between Aviat Networks, Inc.
+Added: and Computershare Inc., as Rights Agent (incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K filed with the SEC on August 31, 2020, File No.
Description of Registered Securities
32 unchanged sentences
Aviat Networks, Inc.
−Removed: 2018 Incentive Plan (incorporated by reference to Appendix A to the Registrant’s Proxy Statement on schedule 14A filed with the SEC on February 12, 2018, File No.
+Added: Amended and Restated 2018 Incentive Plan (incorporated by reference to Appendix 1 to the Registrant’s Proxy Statement on Schedule 14A filed with the SEC on September 27, 2021, File No.
+Added: Employment Agreement, dated September 21, 2021 between the Company and David Gray (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed with the SEC on October 18, 2021, File No.
+Added: Employment Agreement, dated July 1, 2012 between the Company and Bryan C.
+Added: Letter Agreement amending Employment Agreement dated June 27, 2019, between the Company and Bryan C.
List of Subsidiaries of Aviat Networks, Inc.
Consent of BDO USA, LLP
−Removed: Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer
+Added: Rule 13a-14(a)/15d-14(a) Certification of Preside nt and Chief Executive Officer
Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer
−Removed: Section 1350 Certification of Chief Executive Officer
−Removed: Section 1350 Certification of Chief Financial Officer
+Added: Section 1350 Certification of Chief Executive Officer and Chief Financial Officer
101.INS XBRL Instance Document
9 unchanged sentences
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.