What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2025-02-13 compared with 2024-02-13 · 90 added, 82 removed, 188 unchanged (48% of the section changed)

(the Company, us, we, or our) is a leading global supplier of network infrastructure and digitization solutions that makes the digital journey simpler, smarter and secure.

We’re moving beyond connectivity, from what we make to what we make possible through a performance-driven portfolio, forward-thinking expertise and purpose-built solutions.

With a legacy of quality and reliability spanning 120-plus years, we have a strong foundation to continue building the future.

Our business is organized around two global businesses, Enterprise Solutions and Industrial Automation Solutions, both of which benefit from favorable secular trends which we expect to drive future growth.

(the Company, us, we, or our) is a leading global supplier of complete connection solutions that unlock untold possibilities for our customers, their customers and the world.

We advance ideas and technologies that enable a safer, smarter and more prosperous future.

Throughout our 120-plus year history we have evolved as a company, but making connections remains our purpose.

Our business is organized around two global businesses, Smart Infrastructure Solutions and Automation Solutions, both of which benefit from favorable secular trends which we expect to drive future growth.

Each business represents a reportable segment.

5 unchanged sentences

Strategy and Business Model

Our purpose is to build the foundation for a digital world.

Within Enterprise Solutions, our Smart Buildings products offer in-building wired and wireless infrastructures, fiber technology innovation, and design collaboration and customization to connect people with facilities through innovative solutions for enhanced human engagement, productivity, and security.

Also within Enterprise Solutions, our Broadband Solutions products offer a broad portfolio of end-to-end solutions, industry-leading innovation and technology, and worldwide technical service and support to enable a connected, digital world through broadband and wireless innovation.

Within Industrial Automation Solutions, we are uniquely positioned to support digital transformation by providing end-to-end digitization infrastructure focused on robust network infrastructure, secure remote access, accelerated convergence of information technology systems with operational technology (IT/OT), and edge and data analytics.

Our customers are building the future, and we build the network that makes it possible.

We operate our business under two segments – Enterprise Solutions and Industrial Automation Solutions.

Our purpose is to make connections.

Within Smart Infrastructure Solutions, our Smart Buildings products offer in-building wired and wireless infrastructures, fiber technology innovation, and design collaboration and customization to connect people with facilities through innovative solutions for enhanced human engagement, productivity, and security.

Also within Smart Infrastructure Solutions, our Broadband Solutions products offer a broad portfolio of end-to-end solutions, industry-leading innovation and technology, and worldwide technical service and support to enable a connected, digital world through broadband and wireless innovation.

Within Automation Solutions, we are uniquely positioned to support digital transformation by providing end-to-end digitization infrastructure focused on robust network infrastructure, secure remote access, accelerated convergence of information technology systems with operational technology (IT/OT), and edge and data analytics.

We operate our business under two segments – Smart Infrastructure Solutions and Automation Solutions.

As Belden continues to advance forward with solutions focused on data infrastructure, we renamed our two reportable segments during 2024 from Enterprise Solutions and Industrial Automation Solutions to Smart Infrastructure Solutions and Automation Solutions, respectively.

The composition of the segments did not change as a result of these name changes.

A synopsis of the segments is included below:

Enterprise Solutions

The Enterprise Solutions (Enterprise) segment is a leading provider in network infrastructure and broadband solutions, as well as cabling and connectivity solutions for commercial audio/video and security applications.

Smart Infrastructure Solutions

The Smart Infrastructure Solutions segment is a leading provider in network infrastructure and broadband solutions, as well as cabling and connectivity solutions for commercial audio/video and security applications.

Our priority vertical markets for our Smart Buildings Solutions include data centers, government, healthcare, and hospitality.

We also serve customers in markets such as commercial real estate, education, financial, stadiums and venues, and military installations.

We also serve customers in markets such as commercial real estate, education, financial institutions, stadiums and venues, and military installations.

Our Broadband Solutions primarily serve broadband and wireless service providers.

Enterprise product lines include copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and secure, high performance signal extension and matrix switching systems.

Enterprise provides true end-to-end fiber and copper network systems, which are used in applications such as local area networks, data centers, access control, 5G, Fiber to the Home and building automation.

Smart Infrastructure Solutions product lines include copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and secure, high performance signal extension and matrix switching systems.

Smart Infrastructure Solutions provides true end-to-end fiber and copper network systems, which are used in applications such as local area networks, data centers, access control, 5G, Fiber to the Home and building automation.

Our high-performance solutions support all networking protocols up to and including 100G+ Ethernet technologies.

Enterprise’s innovative products can deliver data in addition to power over Ethernet, which meets the higher performance requirements driven by the increasing number of connections in smart buildings.

Enterprise products also include intelligent power, cooling, and airflow management for mission-critical data center operations.

The Enterprise product portfolio is designed to support Internet Protocol convergence, the increased use of wireless communications, and cloud-based data centers by our customers.

Industrial Automation Solutions

The Industrial Automation Solutions segment at Belden provides network infrastructure and digitization solutions to enable our customers to make informed decisions.

We accelerate digital transformation by providing reliable and secure networks designed for the digitization and automation of industries and infrastructure.

Our products and solutions encompass the four aspects of data handling including acquisition, transmission, orchestration and management.

Our innovative products can deliver data in addition to power over Ethernet, which meets the higher performance requirements driven by the increasing number of connections in smart buildings.

Smart Infrastructure Solutions products also include intelligent power, cooling, and airflow management for mission-critical data center operations.

The product portfolio is designed to support Internet Protocol convergence, the increased use of wireless communications, and cloud-based data centers by our customers.

Automation Solutions

The Automation Solutions segment at Belden provides network infrastructure and digitization solutions to enable our customers to make data-based business decisions.

We accelerate digital transformation by providing complete connection solutions that encompass the four aspects of data handling including acquisition, transmission, orchestration and management.

Our primary markets include discrete automation, process automation, energy, and mass transit.

Industrial Automation products are sold directly to industrial equipment OEMs and through a network of industrial distributors, value-added resellers and system integrators for broader reach.

Our automation products are sold directly to industrial equipment OEMs and through a network of distributors, value-added resellers and system integrators for broader reach.

We help customers increase uptime and ensure network data availability, integrity and confidentiality.

We understand the operational, quality, safety and innovation demands of our customers and empower them to succeed by making the most of real-time operational technology data.

Our industrial automation capabilities span networking, connectivity, and network security to design industrial networks and securely transmit data.

Our automation solution capabilities span networking, connectivity, and network security to design industrial networks and securely transmit data.

Our global team of engineers and consultants at our Customer Innovation Centers work directly with customers to understand operational issues, anticipate what successful outcomes require and solve unique networking needs.

5 unchanged sentences

We have completed a number of acquisitions in recent years as part of this strategy.

Most recently, in August 2023, we acquired CloudRail GmbH (CloudRail), which spec ializes in sensor to cloud data solutions allowing end users to quickly connect sensors on their machinery to cloud providers to drive business insights and improve outcomes.

Most recently, i n September 2024, we acquired Voleatech GmbH (Voleatech) which is known for its VT AIR Next Gen Firewall and will expand Belden's Firewall product portfolio and overall planning of security in OT networking.

I n June 2024, we acquired Precision Optical Technologies (Precision), a leading supplier of value-added optical transceivers with proprietary software, firmware configurations, and related components.

In August 2023, we acquired CloudRail GmbH (CloudRail), which spec ializes in sensor to cloud data solutions allowing end users to quickly connect sensors on their machinery to cloud providers to drive business insights and improve outcomes.

In April 2023, we acquired Berthold Sichert GmbH (Sichert), which designs and manufactures a portfolio of polycarbonate street cabinets utilized in outside plant passive optical networks (“PON”) and 5G networks.

3 unchanged sentences

In January 2022, we acquired macmon secure GmbH (Macmon), a leading provider of products and services that secure network infrastructures in a variety of mission critical industries .

I n January 2021, we acquired OTN Systems N.V.

(OTN Systems), a leading provider of automation networking infrastructure solutions.

The results of Sichert and CAI have been included in our Consolidated Financial Statements as of the acquisition date and are reported within the Enterprise Solutions segment.

The results of CloudRail, NetModule, Macmon and OTN Systems have been included in our Consolidated Financial Statements from their respective acquisition dates and are reported within the Industrial Automation Solutions segment.

The results of Precision, Sichert, and CAI have been included in our Consolidated Financial Statements from their respective acquisition dates and are reported within the Smart Infrastructure Solutions segment.

The results of Voleatech, CloudRail, NetModule, and Macmon have been included in our Consolidated Financial Statements from their respective acquisition dates and are reported within the Automation Solutions segment.

For more information regarding our most recent transactions, see Note 4 to the Consolidated Financial Statements.

12 unchanged sentences

In order to maximize our competitive advantages, we manage our product portfolio to capitalize on secular trends and high-growth applications in those markets.

Based on available data for our served markets, we estimate that our market share across our segments is significant, ranging from approximately 5% to 15%.

A substantial acquisition in one of our served markets would be necessary to meaningfully change our estimated market share percentage.

Based on available data for our served markets, we estimate that our market share across our segments is significant, ranging from approxim ately 5% to 15%.

A su bstantial acquisition in one of our served markets would be necessary to meaningfully change our estimated market share percentage.

The principal competitive factor in our markets is the ability to solve customer problems based on product features, quality, availability, price, customer support, and distribution coverage.

3 unchanged sentences

Research and Development

We conduct research and development on an ongoing basis, including new and existing hardware and software product development, testing and analysis, and process and equipment development and testing.

We conduct research and development (R&D) on an ongoing basis, including new and existing hardware and software product development, testing and analysis, and process and equipment development and testing.

See the Consolidated Statements of Operations for amounts incurred for research and development.

2 unchanged sentences

We believe that our future success will depend in part upon our ability to enhance existing products and to develop, manufacture and deliver new products that meet or anticipate such changes in our served markets.

In our Industrial Automation Solutions segment, customers are rapidly adopting new technologies that enable digital transformations.

In our Automation Solutions segment, customers are rapidly adopting new technologies that enable digital transformations.

This includes deploying Industry 4.0 to increase visibility of their digitized assets and adopting Artificial Intelligence (AI) to increase analytics and autonomous decision-making in their systems.

4 unchanged sentences

While the adoption of this technology is at a more advanced stage in certain regions of the world, we believe that the trend will globalize.

Enterprise Solutions R&D efforts are aligned to the secular trends in our markets for increased communication at faster speeds of transmission.

Smart Infrastructure Solutions R&D efforts are aligned to the secular trends in our markets for increased communication at faster speeds of transmission.

This phenomenon is visible across all of our markets.

5 unchanged sentences

The ability to integrate across the multitude of applications within service providers and on-premise networks requires a deep understanding of the unique challenges posed by heavier and faster transmission of data.

Common across the Enterprise Solutions segment, our R&D efforts are focused on ensuring continuously evolving solutions, be it copper and coax cable or fiber optic cable and connectivity as it becomes more pervasive across all networks including wireless.

Common across the Smart Infrastructure Solutions segment, our R&D efforts are focused on ensuring continuously evolving solutions, be it copper and coax cable or fiber optic cable and connectivity as it becomes more pervasive across all networks including wireless.

We anticipate the need to develop the ability to customize networks in the various systems in close collaboration with our partners to advise our mutual end customers.

Our research and development has a strong focus on improving the performance of fiber optic technology, making it easier to handle and install, more robust for technicians and end users, leading to networks that can be deployed more quickly, with higher performance and reliability.

Our research and development has a strong focus on improving the performance of fiber optic technology, making it easier to handle and install and more robust for technicians and end users, leading to networks that can be deployed more quickly, with higher performance and reliability.

Even with the explosive growth in fiber, connections to the end devices that consumers utilize to live, work and play, be it wireless access points or the internet of things (IoT) devices, are still going to strongly benefit from the remaining advantages of copper-based connectivity, with a heavy focus on powering the ever-increasing collection of data consuming and generating devices connected to our increasingly digitized world.

Building automation and the rapid rise of IoT has catalyzed the need to add more devices on the network.

This is turn necessitates the distribution of power across the network.

There will be a need for solutions offering power to these distributed devices and the Enterprise Solutions segment continues to innovate in this area in preparation for a world with a need to upgrade legacy systems as we build greenfield installations.

This in turn necessitates the distribution of power across the network.

There will be a need for solutions offering power to these distributed devices and the Smart Infrastructure Solutions segment continues to innovate in this area in preparation for a world with a need to upgrade legacy systems.

Patents and Trademarks

3 unchanged sentences

Our most prominent trademarks are:

Belden®, Alpha Wire™, Hirschmann®, Lumberg Automation™, Mohawk®, OTN Systems™, PPC®, ProSoft Technology®, Thinklogical®, Tofino®, and West Penn Wire™.

Belden®, Alpha Wire™, Hirschmann®, Lumberg Automation™, OTN Systems™, PPC®, ProSoft Technology®, Thinklogical®, and West Penn Wire™.

Raw Materials

16 unchanged sentences

Our backlog consists of product orders for which we have received a customer purchase order or purchase commitment and which have not yet been shipped.

As of December 31, 2023 and 2022, our backlog wa s $539.6 million and $800.4 million, respectively.

As of December 31, 2024 and 20 23, our backlog was $509.7 million and $539.6 million, respectively.

Almost all of the backlog at December 31, 2024 is scheduled to ship in 2025.

7 unchanged sentences

While we believe that our existing environmental control procedures are adequate, we will continue to evaluate and update our procedures as needed to address new or changing aspects of environmental matters.

Environmental, Social, and Governance (ESG) at Belden

Sustainability at Belden

At Belden, we have built a company and culture that is unique in our industry.

Through our people and our strong commitment to our values, we continually strive to serve the needs of our customers and improve the communities where we live and work.

We have a responsibility to make a positive, meaningful impact on the world around us, which is why our commitment to ESG is so important.

We have a responsibility to make a positive, meaningful impact on the world around us, which is why our commitment to sustainability is so important.

We are committed to leaving the world better than we found it.

We are dedicated to continuously improving our global impact through visible and measurable progress.

Our ESG strategy is overseen by our Board of Directors through the Nominating and Corporate Governance Committee.

Under the leadership of our Senior Vice President-Legal, General Counsel and Corporate Secretary, our ESG Steering Committee is responsible for implementation of our strategy and comprises cross-functional members of the organization.

This Committee meets quarterly to discuss strategy and progress towards our goals.

Additionally, the committee reports to our Board on a quarterly basis and regularly brings forth ESG matters to be discussed at the Senior Leadership Team (SLT) level, with our CEO overseeing the incorporation of our strategy and goals throughout our business.

Since 2022, Belden became signatories of the United Nations and Caring for Climate Pledge and also recommitted to the UN Global Compact (UNGC).

Our sustainability strategy is overseen by our Board of Directors through the Nominating and Corporate Governance Committee.

Under the leadership of our Senior Vice President-Legal, General Counsel and Corporate Secretary, our sustainability Steering Committee is responsible for implementation of our strategy and comprises cross-functional members of the organization.

This Committee meets regularly to discuss strategy and progress towards our goals.

Additionally, the committee reports to our Board on a quarterly basis and regularly brings forth sustainability matters to be discussed at the Senior Leadership Team (SLT) level, with our CEO overseeing the incorporation of our strategy and goals throughout our business.

Since 2022, Belden has been a participant of the UN Global Compact (UNGC) and committed to the United Nation’s Caring for Climate Pledge.

The UNGC is the world’s largest corporate sustainability initiative, comprised of over 20,000 companies across 160 countries.

1 unchanged sentence

Belden also joined the Responsible Business Alliance in the pursuit of creating an ethical and sustainable supply chain with other industry partners by advancing the environmentally responsible procurement of materials and a workforce free of forced labor and ethical injustices.

Our ESG goals span each pillar of our framework with a target completion date of 2025 are as follows:

Our sustainability goals span each pillar of our framework with a target completion date of 2025 are as follows:

Environmental

3 unchanged sentences

• Achieve at least 90% of waste diverted from landfill for manufacturing and distribution locations.

• Increase the use of renewable or recyclable materials in packaging by 20% (FY21 baseline).

• As a first step towards our vision of a diverse, equitable, and inclusive workplace, we will deliver unconscious bias training to 100% of the Belden team worldwide.

• As a first step towards our vision of an inclusive workplace, we will deliver unconscious bias training to 100% of the Belden team worldwide.

• Global team members will be encouraged to participate in an average of 16 hours per year of community related activities.

8 unchanged sentences

Energy conservation and solar generation projects have been identified and are being implemented.

Thus far, we have seen a decrease in Scope 1 and 2 absolute emissions by 9.5% and a decrease in Scope 1 and 2 GHG intensity by 25.0%.

Our onsite green energy initiative has allowed us to reduce the consumption of energy from the local GHG emission-producing grid, and instead utilize green energy solar panels at our manufacturing facilities in China and India and soon in Germany and Hungary as well.

At Belden, we are also increasing our use of reusable materials to include a focus on expanding the use of biodegradable materials by launching a global reusable cardboard packaging program to reduce plastic use from drop cable.

This improvement will directly eliminate the use of 21 tons of plastic waste per year per 500 foot cables.

Thus far, we have seen a decrease in Scope 1 and 2 absolute emissions and Scope 1 and 2 GHG intensity.

Our onsite green energy initiative has allowed us to reduce the consumption of GHG intensive grid-supplied electricity through on-site solar installation and procurement of verified off-site green electricity.

At Belden, we have increased our use of reusable materials to include a focus on expanding the use of biodegradable materials by launching a global reusable cardboard packaging program to reduce plastic use from drop cable.

We are evaluating our product carbon footprints as part of our Scope 3 analysis and are determining how our products and solutions can help our customers solve their climate related challenges.

For more information on our approach to ESG, visit https://www.belden.com/resources/sustainability.

1 unchanged sentence

Our employees’ well-being is directly associated with our success.

We prioritize fostering an equitable and supportive culture that incorporates diversity and inclusion across our entire value chain.

Priority areas for our Human Capital Management strategy are Diversity, Equity, and Inclusion (DEI), Employee Growth and Development, and Employee Well-Being and Engagement.

We are striving to make Belden a great place to work for all associates.

Priority areas for our Human Capital Management strategy are our workplace culture, Employee Growth and Development, and Employee Well-Being and Engagement.

As of December 31, 2024, our global team members totaled approximately 7,500 employees of which 26% are in the United States, 4% in Canada, 12% in China, 7% in India, 22% in Mexico, and 29% in the EMEA region.

Of our workforce, 39% identify as women and they represent 23% of the senior management and 40% of our Board of Directors.

Women represent 37% of our workforce, 25% of the senior management, and 44% of our Board of Directors.

Individuals of ethnically diverse backgrounds make up 27% of our U.S.

workforce and 30% of our Board of Directors.

Diversity, Equity, and Inclusion (DEI)

At Belden, we are dedicated to creating a culture of equity, inclusivity and diversity for the people that we employ.

Under the guidance of our Vice President of DEI and the Global DEI Council, they support our workplace culture and diversity initiatives across the company.

These efforts include providing education in 12 languages to employees, such as unconscious biases training for all employees and inclusive leadership training for all people leaders.

Our Human Resources, Talent Acquisition teams, and Business Units also hold meetings throughout the year to ensure alignment with our DEI strategy to practice and uphold our commitment to diversity throughout the Company.

We are also a proud signatory of the CEO Action for Diversity and Inclusion pledge.

Workplace Culture

At Belden, we are dedicated to creating a workplace culture for our employees that allows them to thrive.

This includes providing a work environment where all employees can Belong.

We do this through our Belden Values, which guide how we operate each and every day.

Additionally, we support our Employee Resource Groups (ERGs) focused on women, young professionals, and diverse abilities.

Our ERGs provide support for our employees around 4 pillars:

Learning and Development, Professional Networking, Community Engagement, and Business Solutions.

Employee Growth and Development

We believe in the potential of our employees and the importance of providing career development opportunities within our Company for those who wish to learn and grow with us.

We continue to live our value of “We Invest in Talent” with 85% of our top 156 positions being filled with people that have been promoted from within.

Moreover, our Early Career Leadership Program (ECLP) gives us the ability to recruit and retain high caliber candidates at an early stage with 13 graduates in 2023.

We also extend offers to high performing interns from our internship program to participate in our ECLP.

Employee Well-Being & Engagement

To ensure we are working towards the betterment of our employees’ well-being, we conduct a bi-annual employee engagement survey, for which we saw an 80% participation rate in 2023 with an overall sustainable engagement score of 86%.

We invest in talent by promoting based on merit, with 86% of our top 170 positions being filled with people that have been promoted from within.

Moreover, our Early Career Leadership Program, allows for us to recruit and retain high-caliber candidates at an early stage.

In 2024, we had 25 graduates of Launch globally.

Additionally, we extend offers to high performing interns from our formal internship program to join Launch.

Employee Well-Being and Engagement

To ensure we are working towards the betterment of our employees’ well-being, we conduct an annual employee engagement survey via Great Place to Work, for which we saw a 78% participation rate in 2024.

Voluntary turnover of management and professional staff remained low at 5% while the overall company Lost Time Incident Rate (LTIR) and Total Recordable Incident Rate (TRIR) were 0.21 and 0.45, respectively.

The Be Well program that formally launched in the United States now encompasses our entire operational footprint to support our workforce’s physical, emotional, social, and financial well-being with almost 65% of our workforce participating.

Once again, we are recognized as a Great Place to Work® in various global locations, including Belgium, China, Denmark, France, Germany, Hong Kong, Hungary, India, Mexico, Netherlands, Singapore, Spain, Switzerland, Tunisia, United Arab Emirates United Kingdom, and the United States – a testament of Belden’s commitment to our employees.

Once again, we are recognized as a Great Place to Work® in various global locations, including Belgium, Canada, China, Denmark, France, Germany, Hong Kong, Hungary, India, Italy, Mexico, Netherlands, Singapore, Spain, Tunisia, United Arab Emirates, United Kingdom, and United States – a testament of Belden’s commitment to our employees.

Available Information

12 unchanged sentences

Brian Anderson 50 Senior Vice President, Legal, General Counsel and Corporate Secretary

Brian Lieser 58 Executive Vice President, Industrial Automation Solutions

Brian Lieser 59 Executive Vice President, Automation Solutions

Hiran Bhadra 51 Senior Vice President, Strategy and Technology

Jeremy Parks 49 Senior Vice President, Finance, and Chief Financial Officer

Leah Tate 48 Senior Vice President, Human Resources

Jay Wirts 53 Executive Vice President, Enterprise Solutions

Jay Wirts 54 Executive Vice President, Smart Infrastructure Solutions

Doug Zink 49 Vice President and Chief Accounting Officer

Ashish Chand was appointed President and Chief Executive Officer on February 22, 2023.

Chand joined Belden in 2002, and most recently served as the Company's Executive Vice President of Industrial Automation Solutions since July 2019, and Managing Director of Belden Asia Pacific from August 2017.

Ashish Chand was appointed President and Chief Executive Officer in February 2023.

Chand joined Belden in 2002, and most recently served as the Company's Executive Vice President of Automation Solutions since July 2019, and Managing Director of Belden Asia Pacific from August 2017.

Over the course of his tenure with Belden, he has held roles across several functions, including sales and marketing and operations in both Asia and North America.

2 unchanged sentences

Chand holds a BA in Economics from Loyola College, Chennai, India, an MBA from XLRI Jamshedpur, India, and a Doctorate of Business Administration from the City University of Hong Kong.

Brian Anderson has been Senior Vice President, Le gal, General Counsel and Corporate Secretary since April 2015.

Brian Anderson was appointed Senior Vice President, Le gal, General Counsel and Corporate Secretary in April 2015.

Prior to that, he served as Corporate Attorney for the Company from May 2008 through March 2015.

6 unchanged sentences

Louis School of Law.

Brian Lieser was appointed Executive Vice President, Industrial Automation Solutions on February 22, 2023.

Prior to that, he served as Vice President of Global Products of Industrial Automation Solutions where he was responsible for product strategy, roadmap, and development as well as domestic and international growth, particularly within Asia and Europe.

Lieser joined the Company in 2009 and has assumed positions of increasing responsibility primarily within the Industrial Automation Solutions segment.

Hiran Bhadra was appointed Senior Vice President, Strategy and Technology in May 2024.

Prior to that, he served as Senior Vice President, Strategy from the time he joined Belden in 2022.

Prior to joining Belden, Mr.

Bhadra worked as a management consultant in leadership positions at Accenture and KPMG.

Bhadra holds a B.Tech.

in Electrical & Electronics Engineering from Indian Institute of Technology, Madras, India, and an MBA from XLRI Jamshedpur, India.

Brian Lieser was appointed Executive Vice President, Automation Solutions in February 2023.

Prior to that, he served as Vice President of Global Products of Automation Solutions where he was responsible for product strategy, roadmap, and development as well as domestic and international growth, particularly within Asia and Europe.

Lieser joined the Company in 2009 and has assumed positions of increasing responsibility primarily within the Automation Solutions segment.

Previously, Mr.

5 unchanged sentences

From 2008 through August of 2020, Mr.

Parks worked for the Company in various financial roles, most recently as Vice President of Finance of the Company’s Industrial Solutions segment.

Parks worked for the Company in various financial roles, most recently as Vice President of Finance of the Company’s Automation Solutions segment.

Parks has a B.A.

1 unchanged sentence

Leah Tate was appointed Senior Vice President, Human Resources in March 2022.

Prior to that, she served as the Vice President, Human Resources for the Company’s Industrial Automation platform as well as in other roles in the human resources organization.

Prior to that, she served as the Vice President, Human Resources for the Company’s Automation platform as well as in other roles in the human resources organization.

Prior to joining Belden, Ms.

1 unchanged sentence

Tate holds a Bachelor of Science degree in Management and a Master of Science degree in Human Resource Management from Purdue University.

Jay Wirts was appointed Executive Vice President, Enterprise Solutions in June 2023.

Jay Wirts was appointed Executive Vice President, Smart Infrastructure Solutions in June 2023.

Prior to that, he served as President, Smart Buildings and has served in other leadership roles since joining Belden in 2018.

3 unchanged sentences

He has a bachelor’s degree in History from Colgate University and an MBA from Northwestern University.

Doug Zink has been Vice President and Chief Accounting Officer since September 2013.

Doug Zink was appointed Vice President and Chief Accounting Officer in September 2013.

Prior to that, he has served as the Company’s Vice President, Internal Audit;

12 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.

What changed 10-K

Item 1. Business