Item 1A. Risk Factors
Item 1A. Risk Factors
As of the date of this filing, there have been no material changes to the risk factors as set forth in Part I, Item 1A., Risk Factors , in our 2020 Form 10-K, except as described below:
Vaccine mandates and other governmental regulations relating to the ongoing COVID-19 pandemic could have a material adverse impact on our business, operations, and results of operations.
On September 9, 2021, President Biden announced a proposed rule requiring that all employers with at least 100 employees require that their employees be fully vaccinated or tested weekly (the “vaccine mandate”). The U.S. Department of Labor’s Occupational Safety and Health Administration (“OSHA”) issued an emergency temporary standard regulation to carry out this mandate. On November 6, 2021, the Unites States Court of Appeals for the Fifth Circuit granted a stay of the emergency temporary standard, and on November 12, 2021 the Court upheld its stay and barred OSHA from enforcing the mandate pending adequate judicial review of a motion for permanent injunction. As a result, OSHA has suspended activities related to the implementation and enforcement of the regulation pending future developments. At this time, it remains unclear whether the vaccine mandate will go into effect, and if it does, whether it will apply to all employees or only to employees who work in the office, as well as how compliance will be documented.
It is anticipated that, should the vaccine mandate go into effect, we would be subject to the OSHA regulation concerning the vaccine mandate. As a result, we may be required to implement a requirement that all of our associates or certain of our associates get vaccinated or regularly tested for COVID-19. At this time, it is not possible to predict the impact that a vaccine mandate and any other related measures, or a vaccine requirement should we adopt one, will have on us. Any vaccine requirement put in place may result in employee attrition and impact our ability to recruit new talent, all of which could have a material adverse effect on our business, operations, and results of operations.
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