−Removed: There have been no material changes in the Risk Factors identified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
+Added: There have been no material changes in the Risk Factors identified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, except as follows:
+Added: Our foreign sales and operations can be adversely affected by supply disruptions due to the military conflict between Russia and Ukraine.
+Added: We conduct a portion of our sales and manufacturing outside the United States.
+Added: Our foreign sales and operations are subject to a number of risks, including political and economic instability, which could have a material adverse impact on our ability to increase or maintain our international sales and operations.
+Added: The military conflict between Russia and Ukraine may increase the likelihood of already strained supply interruptions and further hinder our ability to access the materials and energy we need to manufacture our products.
+Added: Additional supply chain disruptions will make it harder for us to find favorable pricing and reliable sources for the materials we need.
+Added: As a result, such disruptions will put upward pressure on our costs and increase the risk that we may be unable to acquire the materials and services we need to continue to make certain products, in particular at our manufacturing facilities in Europe.
Issuer Purchase of Equity Securities
−Removed: The following table summarizes the share repurchase activity for the nine months ended September 30, 2021:
+Added: The following table summarizes the share repurchase activity for the three months ended March 31, 2022:
Total Number of Shares
Purchased (1)
−Removed: Average Price Paid Per Share (2)
−Removed: Total Number of Shares
+Added: Average Price Paid Per Share Total Number of Shares
Part of Publicly Announced
5 unchanged sentences
March 1-31, 2021 100,000 $ 135.98 100,000 $ 95,065,135
−Removed: First Quarter 13,475 13,475
−Removed: April 1-30, 2021 16,838 $ 119.89 16,838 $ 139,592,155
−Removed: May 1-31, 2021 51,623 $ 129.34 51,623 $ 143,914,129
−Removed: June 1-30, 2021 4,188 $ 129.99 4,188 $ 144,099,802
−Removed: Second Quarter 72,649 72,649
−Removed: July 1-31, 2021 45,129 $ 129.67 45,129 $ 137,892,532
−Removed: August 1-31, 2021 15,099 $ 129.62 15,099 $ 135,874,343
−Removed: September 1-30, 2021 847 $ 138.98 847 $ 145,574,840
−Removed: Third Quarter 61,075 61,075
−Removed: Total 147,199 147,199
−Removed: (1) We have an approved stock repurchase program.
+Added: 245,685 245,685
+Added: (1) Our Board of Directors has approved a stock repurchase program.
The total authorization under this program is 3,763,038 shares.
−Removed: Since the inception of the program in June 1999, a total of 2,715,595 shares have been purchased, of which 85,272 shares remained in treasury at June 30, 2021.
+Added: Since the inception of the program in June 1999, a total of 3,063,929 shares have been purchased.
There is no expiration for this program.
−Removed: (2) Average price paid per share includes costs associated with the repurchases
Exhibit Number Description
16 unchanged sentences
Martin Bengtsson, Chief Financial Officer and Treasurer
−Removed: October 29, 2021
+Added: April 29, 2022
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.