What changed in this filing

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Item 1. Business

2026-03-16 compared with 2025-03-04 · 81 added, 71 removed, 326 unchanged (32% of the section changed)

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Green Dot Bank is a wholly owned subsidiary of Green Dot Corporation and member of the Federal Deposit Insurance Corporation.

Proposed Transactions with CommerceOne Financial Corporation and Smith Ventures, LLC

In connection with a strategic review process we commenced in March 2025 (our “strategic review process”), on November 23, 2025, we entered into an Agreement and Plan of Merger (the “Merger Agreement”), with CommerceOne Financial Corporation, an Alabama corporation (“CommerceOne”), Compass Sub North, Inc., a newly formed Delaware corporation and a direct, wholly owned subsidiary of CommerceOne (“New CommerceOne”), Compass Sub East, Inc., a newly formed Delaware corporation and a direct, wholly owned subsidiary of New CommerceOne (“Merger Sub One”), and Compass Sub West, Inc., a newly formed Delaware corporation and an indirect, wholly owned subsidiary of New CommerceOne (“Merger Sub Two”), pursuant to which, upon the terms and subject to the conditions therein, (i) Merger Sub One will merge with and into CommerceOne, with CommerceOne surviving (the “CommerceOne Merger”), and Merger Sub Two will merge with and into Green Dot Corporation, with Green Dot Corporation surviving (the “Green Dot Merger,” and together with the CommerceOne Merger, the “First Mergers”);

and (ii) following the First Mergers, CommerceOne will merge with and into New CommerceOne, with New CommerceOne surviving under the name “CommerceOne Financial Corporation” (together with the First Mergers, the “Mergers”).

Subject to the terms and conditions of the Merger Agreement, at the effective time of the First Mergers (the “First Effective Time”), each share of common stock of Green Dot Corporation, issued and outstanding immediately prior to the First Effective Time, other than certain excluded shares held by us, CommerceOne, New CommerceOne or our dissenting stockholders, will be converted into the right to receive (i) 0.2215 shares of the common stock of New CommerceOne and (ii) an amount in cash equal to $8.11 (the “Per Share Cash Consideration”), less any withholding and without interest.

Also on November 23, 2025, we entered into a separation agreement (the “Separation Agreement”), with New CommerceOne and Green Dot OpCo, LLC, a newly formed Delaware limited liability company and affiliate of Smith Ventures LLC, an Alabama limited liability company (“Payments Buyer”), pursuant to which, upon the terms and subject to the conditions therein, following the First Mergers, (i) Green Dot Corporation will convert into a limited liability company, (ii) Green Dot Corporation will distribute the stock of Green Dot Bank to Compass Sub Northwest, Inc., a Delaware corporation and direct, wholly owned subsidiary of New CommerceOne, and (iii) Payments Buyer will acquire Green Dot Corporation and its non-bank financial technology and related assets and operations (the “Payments Business”) for $690 million (the “Payments Sale”), the proceeds of which will be paid to New CommerceOne and are expected to be used to fund the Per Share Cash Consideration and to retire certain indebtedness of Green Dot Corporation.

The Merger Agreement and the Separation Agreement were unanimously approved by our Board of Directors.

The closing of the transactions contemplated by the Merger Agreement and the Separation Agreement remains subject to the receipt of required regulatory approvals, approval by the stockholders of Green Dot Corporation and CommerceOne and the satisfaction of other customary closing conditions.

For additional information regarding potential risks and uncertainties associated with such transactions, please see Part I, Item 1A, Risk Factors below.

Our Products and Services

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wage and disbursements solutions, providing pay card and earned wage access services to more than 7,000 businesses and their employees;

and Santa Barbara TPG (“SBTPG”), our tax division, which processes roughly 14 million tax refunds annually.

and Santa Barbara Tax Products Group (“SBTPG”), our tax division, which processes on average approximately 13 million tax refunds annually.

Through our brands, we offer several deposit account programs, including:

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• Interest income earned from the investment of deposits held at Green Dot Bank.

Our deposit account programs are generally issued by Green Dot Bank, but we also manage programs issued by third-party issuing banks as a result of several acquisitions we made several years ago.

While we continue to offer several legacy branded deposit programs, we focus our consumer deposit account programs on our flagship product, GO2bank, offering consumers simple and accessible mobile banking designed to help improve financial health over time.

Our deposit account programs are generally issued by Green Dot Bank, but we also manage programs issued by third-party issuing banks as a result of prior acquisitions.

We focus our consumer deposit account programs on our flagship product, GO2bank, offering consumers simple and accessible mobile banking designed to help improve financial health over time.

GO2bank offers features such as consumer friendly overdraft protection, high-value rewards, high-interest savings, and opportunities to establish, build, and track credit, regardless of credit history.

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• Cash transfer services that enable consumers to deposit or pick up cash and pay bills with cash at the point-of-sale at any participating retailer.

We offer this service to our deposit account programs and any third-party bank or program manager (which we refer to as network acceptance members) that has enabled

its cards to accept funds through our processing system.

We offer this service to our deposit account programs and any third-party bank or program manager (which we refer to as network acceptance members) that has enabled its cards to accept funds through our processing system.

We refer to this retail cash transaction network as the Green Dot Network;

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Our products and services are distributed and organized under our three reportable segments:

1) Consumer Services, 2) Business to Business ("B2B") Services, and 3) Money Movement Services.

Consumer Services

Our Consumer Services segment consists of revenues and expenses derived from deposit account programs, such as consumer checking accounts, prepaid cards, secured credit cards, and gift cards that we offer to consumers (i) through distribution arrangements with more than 90,000 retail locations and thousands of neighborhood Financial Service Center locations (the "Retail channel"), and (ii) directly through various marketing channels, such as online search engine optimization, online displays, direct mail campaigns, mobile advertising, and affiliate referral programs (the "Direct channel").

In our Retail channel, we operate a supply chain comprised of proprietary technology and third-party vendors to design, manufacture and distribute packaging containing ready-to-use debit cards to our network of retail locations.

Consumers can purchase these debit cards and initially load funds to the account in-store.

In our Direct channel, consumers can open an account online or through our mobile app.

Once consumers register their account with us, the account can be loaded through a variety of funding mechanisms, such as payroll direct deposit or utilizing our money processing services.

1) Business to Business ("B2B") Services, 2) Consumer Services, and 3) Money Movement Services.

Our B2B Services segment consists of revenues and expenses derived from (i) our partnerships with prominent consumer and technology companies that make our banking products and services available to their consumers, partners and workforce through integration with our banking platform (the "Banking-as-a-Service", or "BaaS channel"), and (ii) a comprehensive payroll platform that we offer to corporate enterprises (the "Employer channel"), to facilitate payments for today’s workforce.

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Our banking platform includes an integrated bank, full program management services and enterprise-grade technology.

Our largest customers include Apple, Inc., Intuit, Inc., and Amazon.com, Inc., among others.

Our largest customers include Apple, Inc., Intuit, Inc., Dayforce, Inc., and Amazon.com, Inc., among others.

In our Employer channel, we offer a comprehensive platform to corporate enterprises to facilitate payments made for today’s workforce, including:

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• Affordable instant digital pay options that replace slow and costly traditional pay methods.

Consumer Services

Our Consumer Services segment consists of revenues and expenses derived from deposit account programs, such as consumer checking accounts, prepaid cards, secured credit cards, and gift cards that we offer to consumers (i) through distribution arrangements with more than 90,000 retail locations and neighborhood Financial Service Center locations (the "Retail channel"), and (ii) directly through various marketing channels, such as online search engine optimization, online displays, direct mail campaigns, mobile advertising, and affiliate referral programs (the "Direct channel").

Consumers can purchase these debit cards and initially load funds to the account in-store.

In our Direct channel, consumers can open an account online or through our mobile app.

Once consumers register their account with us, the account can be loaded through a variety of funding mechanisms, such as payroll direct deposit or utilizing our money processing services.

Money Movement Services

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Those customers, including our own accountholders, can access our cash deposit and disbursement services at any of the locations within our network of retail distributors and neighborhood Financial Service Centers.

We market our tax related financial services through a network of tax preparation franchises, independent tax professionals and online tax preparation providers, which are sometimes referred to as electronic return originators, or “EROs.” We also offer these consumers the option to deposit their tax refund proceeds onto one of our debit account products, which further expands the reach of our deposit account programs.

or “EROs.” We also offer these consumers the option to deposit their tax refund proceeds onto one of our debit account products, which further expands the reach of our deposit account programs.

Our Technology Platform

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Through agreements with our network acceptance members, retail distributors and customers, we authorize and monitor the use of our trademarks in connection with their activities with us.

Our patent portfolio currently consists of 17 issued patents and 1 patent application pending.

Our patent portfolio currently consists of 18 issued patents.

The current remaining terms for the patents we hold vary between approximately 1 and 13 years .

We feel many of our patents and applications are important to our business and help to differentiate our products and services from those of our competitors.

We feel many of our patents and applications are important to our business and help differentiate our products and services from those of our competitors.

The industries in which we compete are characterized by rapidly changing technology, a large number of patents, and frequent claims and related litigation regarding patent and other intellectual property rights.

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In addition, failure to implement or maintain adequate compliance programs could cause bank regulators not to approve an acquisition where regulatory approval is required or to prohibit an acquisition even if approval is not required.

Acquisitions of Ownership of Green Dot Corporation

The ability of a third party to acquire our stock is also limited under applicable U.S.

Acquisitions of Ownership of Green Dot Corporation or Green Dot Bank

The ability of a third party to acquire our stock or the stock of Green Dot Bank is also limited under applicable U.S.

banking laws, including regulatory approval requirements.

Federal Banking Law .

The BHC Act requires any BHC to obtain the approval of the Federal Reserve before acquiring, directly or indirectly, more than 5% of our outstanding common stock.

The BHC Act requires any BHC to obtain the approval of the Federal Reserve before acquiring, directly or indirectly, more than 5% of our outstanding common stock or the stock of Green Dot Bank.

Any “company,” as defined in the BHC Act, other than a BHC is required to obtain the approval of the Federal Reserve before acquiring "control" of us.

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In addition, under the Change in Bank Control Act of 1978, as amended (the “CIBC Act”), and the Federal Reserve’s regulations thereunder, any person, either individually or acting through or in concert with one or more persons, is required to provide notice to the Federal Reserve prior to acquiring control, directly or indirectly, of a BHC such as Green Dot Corporation.

As discussed more fully below in “ Regulatory Approvals Related to the Proposed Transactions with CommerceOne Financial Corporation ,” the Mergers are subject to the approval of the Federal Reserve pursuant to the BHC Act, because, among other things, CommerceOne Financial Corporation will be acquiring indirect control of Green Dot Bank.

For purposes of the BHC Act and the CIBC Act, a rebuttable presumption of control applies to acquisitions of more than 10% of any class of a BHC’s voting stock under certain circumstances, including if, as is the case with Green Dot Corporation, the issuer has registered securities under Section 12 of the Exchange Act.

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Under the Federal Reserve’s rules, investors can hold up to 24.9% of the voting securities and up to 33% of the total equity of a company without necessarily having a controlling influence.

Utah Change in C o ntrol Restrictions .

Utah Change in Control Restrictions.

Utah’s Financial Institutions Act generally requires prior approval of the Utah DFI before a person or entity may acquire, directly or indirectly, control of a depository institution or a depository institution holding company subject to its jurisdiction.

The Utah DFI defines control to include, among other things, the power, directly or indirectly, or through or in concert with one or more persons, to vote more than 10% of any class of voting securities by a person other than an individual or to vote 20% or more of any class of voting securities by an individual.

The Utah DFI defines control to mean the power, directly or indirectly, or through or in concert with others, to:

(a) direct or exercise a controlling influence over:

(i) the management or policies of such an institution or holding company;

or (ii) the election of a majority of the directors of such an institution or holding company;

or (b) vote 25% or more of any class of voting securities of such an institution or holding company.

Additionally, there is a rebuttable presumption that a person has control of such an institution or holding company if the person has the power, directly or indirectly, or through or in concert with

others, to vote more than 10% but less than 25% of any class of voting securities of such an institution or holding company.

As discussed more fully below in “ Regulatory Approvals Related to the Proposed Transactions with CommerceOne Financial Corporation ,” the Mergers are subject to the approval of the Utah DFI pursuant to Utah’s Financial Institutions Act because, among other things, New CommerceOne will be acquiring indirect control of Green Dot Bank.

Regulatory Approvals Related to the Proposed Transactions with CommerceOne Financial Corporation

To complete the Mergers, New CommerceOne, CommerceOne and Green Dot Corporation need to obtain approvals or consents from, or make filings with, a number of U.S.

federal and state bank and other regulatory authorities.

Federal Reserve.

The Mergers are subject to the approval of the Federal Reserve pursuant to Section 3 of the BHC Act in order for:

(a) Merger Sub Two to become a bank holding company as a result of its acquisition of Green Dot Bank in the Green Dot Merger;

(b) New CommerceOne to become a bank holding company as a result of its indirect acquisitions of Green Dot Bank and CommerceOne Bank in the First Mergers;

and (c) the merger of CommerceOne and New CommerceOne in the Upstream Merger.

New CommerceOne’s acquisition of Green Dot Bank indirectly through Merger Sub Two Holdco will require New CommerceOne to apply to the Utah DFI under § 7-1-703 of the Utah Code, which may, in the Utah DFI’s discretion, be a copy of the application filed with the responsible federal bank supervisory agency.

Alabama State Banking Department (the ‘‘ASBD’’).

New CommerceOne’s acquisition of CommerceOne, including CommerceOne Bank, requires an application to the ASBD under one or both of §§ 5-5A-44 and 5-13B-4 of the Alabama Code, which may, at the superintendent’s discretion, be a copy of the application filed with the responsible federal bank supervisory agency.

The ASBD has notified the applicant that the filing for this transaction may be made under § 5-13B-4 of the Alabama Code.

Additional Regulatory Approvals and Notices.

Additional notifications and/or applications requesting approval may be submitted to various other federal, state and non-U.S.

regulatory authorities and self-regulatory organizations.

Capital and Liquidity Requirements

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As of December 31, 2025, our and Green Dot Bank’s regulatory capital ratios were above the well-capitalized standards and met the then-applicable capital conservation buffer.

Based on current estimates, we believe that Green Dot Corporation and Green Dot Bank will continue to exceed all applicable well-capitalized regulatory capital requirements and the capital conservation buffer (to the extent the buffer is applicable), on a fully phased-in basis.

Based on current estimates, we believe that

Green Dot Corporation and Green Dot Bank will continue to exceed all applicable well-capitalized regulatory capital requirements and the capital conservation buffer (to the extent the buffer is applicable), on a fully phased-in basis.

FDICIA and Prompt Corrective Action

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An institution that fails to remain well-capitalized becomes subject to a series of restrictions that increase in severity as its capital condition weakens.

Such restrictions may include a prohibition on capital distributions, restrictions on asset growth or restrictions on the ability to receive regulatory approval of

applications.

Such restrictions may include a prohibition on capital distributions, restrictions on asset growth or restrictions on the ability to receive regulatory approval of applications.

FDICIA also provides for enhanced supervisory authority over undercapitalized institutions, including authority for the appointment of a conservator or receiver for the institution.

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The risks associated with the failure to properly classify deposits are more fully discussed in "Part I, Item 1A.

Risk Factors." On July 30, 2024, the FDIC issued a notice of proposed rulemaking modifying portions of the final rule.

However, this proposed rulemaking has not been adopted.

Risk Factors."

Safety and Soundness Guidelines

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To the extent that we do not qualify for the community bank leverage framework under the Federal Reserve’s version of the U.S.

Basel III Rules, Green Dot Corporation or Green Dot Bank, as applicable, must maintain the applicable capital conservation buffer to avoid becoming subject to restrictions on capital distributions, including dividends and share repurchases.

Basel III Rules, Green Dot Corporation or Green Dot Bank, as applicable, must maintain the

applicable capital conservation buffer to avoid becoming subject to restrictions on capital distributions, including dividends and share repurchases.

The capital conservation buffer is currently at its fully phased-in level of 2.5%.

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BHCs are also required to consult with the Federal Reserve before materially increasing dividends and must receive approval before redeeming or repurchasing capital instruments.

In addition, the Federal Reserve could prohibit or limit the

payment of dividends by a BHC if it determines that payment of the dividend would constitute an unsafe or unsound practice.

In addition, the Federal Reserve could prohibit or limit the payment of dividends by a BHC if it determines that payment of the dividend would constitute an unsafe or unsound practice.

As a Delaware corporation, Green Dot Corporation is also subject to certain limitations and restrictions under Delaware corporate law with respect to payment of dividends and other distributions.

Furthermore, in connection with the proposed transactions with CommerceOne and Smith Ventures, the Merger Agreement and the Separation Agreement each contain certain restrictions that prohibit us from paying dividends or making share repurchases without the approval of CommerceOne under the Merger Agreement and Payments Buyer under the Separation Agreement.

Source of Strength

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The Bank Merger Act provides that, in the event of the liquidation or other resolution of an insured depository institution, including Green Dot Bank, the claims of depositors of the institution (including the claims of the FDIC as subrogee of insured depositors) and certain claims for administrative expenses of the FDIC as a receiver would have priority over other general unsecured claims against the institution.

If Green Dot Bank were to fail, insured and uninsured depositors, along with the FDIC, would have priority in payment ahead of unsecured, non-deposit creditors, including Green Dot Bank if it were a creditor at that time, with respect to any extensions of credit they have made to such insured depository institution.

If Green Dot Bank were to fail, insured and uninsured depositors, along with the FDIC, would have priority in payment ahead of unsecured, non-deposit

creditors, including Green Dot Bank if it were a creditor at that time, with respect to any extensions of credit they have made to such insured depository institution.

Transactions between a Bank and its Affiliates

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The plan is focused on supporting the needs of the bank's defined assessment area primarily through direct community development lending and investment, small business lending, and services in Green Dot Bank’s designated Assessment Area of Utah and Juab Counties, as well as the broader surrounding geographic region.

On October 24, 2023, the Federal Reserve Board joined the FDIC and Office of the Comptroller of the Currency in issuing a new final rule seeking to strengthen and modernize the regulations that implement the CRA.

The rule became effective April 1, 2024, with most of its provisions becoming applicable on January 1, 2026.

However, the rule has been challenged in federal court, which has granted a preliminary injunction on enforcement of the rule.

The litigation remains pending.

Insurance of Deposit Accounts

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Blocked assets (e.g., property and bank deposits) cannot be paid out, withdrawn, set off or transferred in any manner without a license from OFAC.

Failure to comply with these sanctions could have serious legal and reputational consequences.

Failure to comply with these sanctions could have serious legal and reputational consequences, including denial by federal regulators of proposed merger, acquisition, restructuring or other expansionary activity.

Privacy and Data Security Laws

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Privacy and data security remain areas of state legislative focus.

By the end of 2024, eight U.S.

states had consumer privacy laws in effect.

Similar laws come into effect in eight more states in 2025, and another three states in 2026.

By the end of 2025, approximately 16 U.S.

states had comprehensive consumer privacy laws in effect.

Similar laws come into effect in three more states in 2026.

These laws provide residents of these states certain privacy rights in the collection and disclosure of their personal information and require covered businesses to make certain disclosures and take certain other acts in furtherance of those rights.

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The CFPB Prepaid Rule includes requirements related to treatment of funds on lost or stolen cards, error resolution and investigation, upfront fee disclosures, access to account information, and overdraft features if offered in conjunction with prepaid accounts.

On March 5, 2024, the CFPB issued a final rule further limiting credit card late fees.

The rule has also been challenged in federal court and is subject to a preliminary injunction.

Because Green Dot Bank has less than $10 billion in total consolidated assets, the Federal Reserve is responsible for examining and supervising Green Dot Bank’s compliance with these and other federal consumer financial laws and regulations.

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state licensing laws may subject money transmitters to periodic examinations and may require them and their agents to comply with federal and/or state AML laws and regulations.

We have obtained licenses to operate as a money transmitter in all U.S.

We have obtained state licenses to operate as a money transmitter in all U.S.

jurisdictions in which such a license is required for us to conduct our business.

Payment Networks

In order to provide our products and services, we, as well as Green Dot Bank, are contracted members with Visa, Inc.

In order to provide our products and services, we, as well as Green Dot Bank, are contracted members with payment network companies including Visa, Inc.

("Visa") and Mastercard Inc.

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Statutory abandonment periods applicable to our card products and services typically range from three to seven years.

ESG Management

We are committed to making modern banking and money movement accessible for all, and we believe that managing our business in a sustainable manner is an important part of this goal.

At the board level, our Nominating and Corporate Governance Committee (the “NCG Committee”) oversees our environmental, social and governance (“ESG”) programs, policies and practices.

The NCG Committee’s duties in this regard include reviewing and evaluating our programs, policies and practices relating to ESG issues and related disclosures and recommending to our Board of Directors (our "Board of Directors" or "Board") our overall strategy with respect to ESG matters.

We also advance our ESG strategy through our management-level ESG Steering Committee comprised of employees across our company from human resources to legal to business development (the "ESG Steering Committee").

The purpose of the ESG Steering Committee is to assist the NCG Committee in fulfilling its oversight responsibilities with respect to ESG matters, including by reviewing and approving programs, policies and practices relating to ESG issues.

We believe our approach to ESG management helps to enable us to create value for both our stockholders and our other stakeholders, including our customers, partners, employees and communities.

We endeavor to provide transparent disclosures on the progress of this work through our annual ESG report.

More detailed information about the progress of our work can be found in that report located at https://ir.greendot.com/corporate-governance/highlights.

The information in the ESG report and on our website is not part of this report or incorporated in this report by reference.

Human Capital

As of December 31, 2024, we had approximately 1,150 full-time employees globally, of which approximately 77% are located in the United States, and 23% are located in China.

Human capital objectives and measures that we focus on in managing our business include talent retention and development, employee experience, diversity, equity, including and belonging ("DEIB"), total rewards, employee health and safety, and organizational culture and ethics.

As of December 31, 2025, we had approximately 900 full-time employees, practically all of which are located in the United States.

Human capital objectives and measures that we focus on in managing our business include talent retention and development, employee experience, inclusion and belonging, total rewards, and organizational culture and ethics.

Our focus on employee engagement occurs in three foundational areas:

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We strive to maintain a workforce that is representative of the industry we serve, comprised of highly technical individuals, who enjoy pushing the boundaries of what is possible and are individually innovative.

We work to retain employees in several ways, including having strong leadership and optimizing leaders and managers through effective training and development programs, providing employees the opportunity to learn new skills and to advance their careers, investing in technology, maintaining customer relationships, and providing competitive and equitable total rewards.

For the fiscal year 2024, our voluntary turnover rate was less than 8%, which we believe demonstrates the strength of our culture and professional development programs.

We work to retain

employees in several ways, including having strong leadership and optimizing leaders and managers through effective training and development programs, providing employees the opportunity to learn new skills and to advance their careers, investing in technology, maintaining customer relationships, and providing competitive and equitable total rewards.

We offer industry-specific training regarding regulatory standards and compliance, as well as self-directed learning through third-party learning platforms.

In 2024, we continued to deliver manager specific training designed to increase managerial capability in the areas of communication, engagement, coaching, inclusion and diversity, hiring and on-boarding, business skills, and ensuring an ethical and supportive work environment free from bias and harassment.

As employees advance in their careers, our training framework seeks to build new capabilities with foundational leadership skills.

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We embrace an open-door policy where collaboration across all levels of team members and across multiple departments is encouraged.

We have historically used annual employee engagement surveys to track and enhance employee sentiment and satisfaction, and in 2024 conducted a global engagement survey to better understand employee well-being and leadership opportunities.

We endeavor to identify ways to instill our mission, vision, values, and business objectives throughout our organization, and build a performance-driven culture in a continually evolving remote and virtual environment.

We use these surveys to solicit feedback about members of our senior leadership up to and including our Chief Executive Officer from employees at all levels of our organization.

The three highest rated categories were management, organizational alignment and involvement, and work and life blend.

We also believe that ongoing employee performance feedback encourages greater engagement in our business and improved individual performance.

Diversity, Equity, Inclusion, and Belonging

We believe that a diverse, equitable and inclusive working environment with high belonging helps drive our mission and provides our workforce with the best opportunities for success.

We are endeavoring to improve representation and inclusion for employees at all levels of the organization.

We have been actively working to further enhance recruitment strategies and career development strategies in support of our DEIB initiatives.

We ended 2024 with a workforce comprised of 53% male and 47% female employees.

We use annual employee engagement and other surveys to solicit feedback about members of our senior leadership from employees at all levels of our organization.

We believe that ongoing employee performance feedback encourages greater engagement and improves individual performance.

Inclusion and Belonging

We believe that an inclusive working environment with high belonging helps drive our mission and provides our workforce with the best opportunities for success.

We are endeavoring to improve inclusion and belonging for employees at all levels of the organization.

We have been actively working to further enhance recruitment strategies and career development strategies in support of these initiatives.

We delivered multiple enterprise-wide events to create new levels of knowledge, empathy, and community connection for our people.

We focused on furthering DEIB goals through recruitment, career development, succession planning and leadership education.

In 2025, we intend to continue to pursue enterprise efforts in DEIB, employee lifecycle design, talent development and culture transformation.

We focused on furthering inclusion and belonging goals through recruitment, career development, succession planning, and leadership education.

Total Rewards

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We offer a comprehensive and tailored set of benefits for employees and their families, providing protection from unexpected losses or medical expenses.

Our benefits programs are tailored for the various geographies in

which we operate, and include a variety of competitive health plans, in addition to dependent care flexible spending accounts, a 401(k) plan with a company match and auto-enrollment, employee stock purchase plan, and an employee assistance program.

Our benefits programs are tailored for the various U.S.

geographies in which we operate, and include a variety of competitive health plans, in addition to dependent care flexible spending accounts, a 401(k) plan with a company match and auto-enrollment, employee stock purchase plan, and an employee assistance program.

Organizational Culture and Ethics

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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