OTHER INFORMATION
−Removed: Amended and Restated Bylaws, dated April 17, 2025
−Removed: April 23, 2025
−Removed: 2025 Equity Incentive Plan of Envela Corporation
Certification pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934 implementing Section 302 of the Sarbanes-Oxley Act of 2002 by John R.
13 unchanged sentences
ENVELA CORPORATION
−Removed: August 6, 2025
+Added: November 5, 2025
Chief Financial Officer
5 unchanged sentences
2025 Equity Incentive Plan
+Added: Adjusted Debt Obligations
+Added: Adjusted Debt Obligations represents (i) Debt Obligations plus (ii) operating lease liabilities per the Balance Sheet.
+Added: Adjusted Debt to Adjusted EBITDAR Leverage Ratio
+Added: The Adjusted Debt to Adjusted EBITDAR Leverage Ratio is a non-U.S.
+Added: GAAP measure and represents (i) Adjusted Debt Obligations divided by (ii) Adjusted EBITDAR.
+Added: Adjusted Debt to Net Income Leverage Ratio
+Added: The Adjusted Debt to Net Income Leverage Ratio is a non-U.S.
+Added: GAAP measure and represents the sum of (i) Debt Obligations and operating lease liabilities (ii) divided by (iii) Adjusted EBITDAR.
Adjusted EBITDA
Adjusted Earnings Before Interest, Tax, Depreciation, and Amortization
+Added: Adjusted EBITDAR
+Added: Adjusted EBITDAR is a non-U.S.
+Added: GAAP measure and equals (i) Adjusted EBITDA plus (ii) minimum fixed rent expense for properties occupied under operating leases.
+Added: Adjusted Net Debt Obligations
+Added: Adjusted Net Debt Obligations is a non-U.S.
+Added: GAAP measure and represents the difference between (i) Adjusted Debt Obligations per the Balance Sheet and (ii) Total Cash.
+Added: Adjusted Net Debt to Adjusted EBITDAR Leverage Ratio
+Added: The Adjusted Net Debt to Adjusted EBITDAR Leverage Ratio is a non-U.S.
+Added: GAAP measure and represents (i) Adjusted Net Debt Obligations divided by (ii) Adjusted EBITDAR.
Accounting Standards Codification
2 unchanged sentences
Disaggregation of Income Statement Expenses
+Added: Financial Instruments - Credit Losses (Topic 326):
+Added: Measurement of Credit Losses for Accounts Receivable and Contract Assets
+Added: Intangibles - Goodwill and Other - Internal Use Software (Subtopic 350-40):
+Added: Targeted Improvements to the Accounting for Internal-Use Software
Avail Transaction
1 unchanged sentence
Board of Directors
+Added: Capital Expenditures
+Added: Capital Expenditures represent the purchase of (i) property and equipment, and (ii) intangible assets.
Chief Operating Decision Maker
1 unchanged sentence
Envela Corporation, a Nevada corporation, and its subsidiaries
+Added: Debt Obligations
+Added: Debt Obligations represents amounts outstanding under notes payable balances per the Balance Sheet.
+Added: Debt to Adjusted EBITDA Leverage Ratio
+Added: The Debt to Adjusted EBITDA Leverage Ratio is a non-U.S.
+Added: GAAP measure and represents (i) Debt Obligations divided by (ii) Adjusted EBITDA.
+Added: Debt to Net Income Leverage Ratio
+Added: The Debt to Net Income Leverage Ratio represents the leverage ratio of the Company utilizing the following U.S.
+Added: GAAP measures:
+Added: (i) Debt Obligations divided by (ii) Net Income.
Envela Corporation, a Nevada corporation, and its subsidiaries
4 unchanged sentences
Fiscal year ended December 31, 2025
−Removed: Form 10-Q for the three and six months ended June 30, 2025
+Added: Form 10-Q for the three and nine months ended September 30, 2025
+Added: Free Cash Flow
+Added: Free Cash Flow is a non-U.S.
+Added: GAAP measure and represents the difference between the Company’s (i) Operating Cash Flow and (ii) Capital Expenditures.
Farmer's State Bank of Oakley, Kansas
+Added: Incentive Stock Options
Information Technology
Information Technology Asset Disposition
−Removed: Incentive Stock Options
−Removed: New York Stock Exchange
The difference between (i) cash and cash equivalents and (ii) the sum of debt obligations
−Removed: Securities Act
−Removed: Securities Act of 1933
+Added: Net Debt Obligations
+Added: Net Debt Obligations is a non-U.S.
+Added: GAAP measure and represents the difference between (i) Debt Obligations per the Balance Sheet and (ii) Total Cash.
+Added: Net Debt to Adjusted EBITDA Leverage Ratio
+Added: The Net Debt to Adjusted EBITDA Leverage Ratio is a non-U.S.
+Added: GAAP measure that represents (i) Net Debt Obligations divided by (ii) Adjusted EBITDA.
+Added: Not Meaningful
+Added: New York Stock Exchange
+Added: One Big Beautiful Bill Act
+Added: Operating Cash Flow
+Added: Operating Cash Flow measures the amount of cash generated from normal business operations during a specific period and is referred to as net cash provided by operations in the Statement of Cash Flows.
+Added: Minimum fixed rent expense for properties occupied under operating leases.
Scottsdale Transaction
1 unchanged sentence
Securities and Exchange Commission
+Added: Securities Act
+Added: Securities Act of 1933
Scope of Work
Texas Bank & Trust
+Added: Total Cash represents cash and cash equivalents per the Balance Sheet.
+Added: Trailing Four Quarters
+Added: The Trailing Four Quarters ended period is defined as the cumulative total amount of the most recent four consecutive fiscal quarters of financial results for the respective reported balance.
United States
1 unchanged sentence
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.