What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2025-02-25 compared with 2024-02-22 · 96 added, 88 removed, 269 unchanged (41% of the section changed)

21 unchanged sentences

The interior mirror is an optimal location for a vehicle-integrated toll transponder and it eliminates the need to affix multiple toll tags to the windshield.

In 2017, the Company announced an agreement entered into during the ordinary course of business with VOXX International Corporation to become the exclusive aftermarket distributor of the Gentex Aftermarket Full Display Mirror ® in North America.

The Company has also displayed a new three-camera rear vision system that streams rear video – in multiple composite views – to a rearview-mirror-integrated display.

In 2017, the Company announced an agreement entered into during the ordinary course of business with VOXX International Corporation ("VOXX") to become the exclusive aftermarket distributor of the Gentex Aftermarket Full Display Mirror ® in North America.

The Company has also displayed a three-camera rear vision system that streams rear video – in multiple composite views – to a rearview-mirror-integrated display.

Further, the Company has announced an embedded biometric solution for vehicles that leverages iris scanning technology to create a secure environment in the vehicle.

4 unchanged sentences

The Company announced in January 2018 that it entered into an exclusive licensing agreement, in the ordinary course of business, with Fingerprint Cards AB to deploy its ActiveIRIS ® iris-scanning biometric technology in automotive applications.

In January 2019, the Company announced that it would be offering, as optional content, its latest generation of variable dimmable windows on the Boeing 777X aircraft.

During the third quarter of 2019, the first production shipments of variably dimmable windows were made to Boeing for the 777X program.

In January 2020, the

Company announced that Airbus will also be offering the Company's dimmable aircraft windows on its aircraft, with production having begun in 2021.

In January 2020, the Company unveiled an innovative lighting technology for medical applications that was co-developed with Mayo Clinic.

In 2019, the Company announced that it would be offering, as optional content, its latest generation of variable dimmable windows on the Boeing 777X aircraft.

The first production shipments of variably dimmable windows were made to Boeing for the 777X program that same year.

In 2020, the Company announced that Airbus will also be offering the Company's dimmable aircraft windows on its aircraft, with production having begun in 2021.

Also in 2020, the Company unveiled an innovative lighting technology for medical applications that was co-developed with Mayo Clinic.

This new lighting concept represents the collaboration of a global, high-technology electronics company with a world leader in health care.

3 unchanged sentences

The Company will continue to work on the intelligent medical lighting system in order to assess system performance and work toward obtaining any necessary approvals.

In April 2020, the Company, in the ordinary course of business, acquired Vaporsens, Inc.

Further in 2020, the Company, in the ordinary course of business, acquired Vaporsens, Inc.

("Vaporsens"), which specializes in nanofiber chemical sensing research and development.

4 unchanged sentences

The Vaporsens technology has a wide variety of use cases in various markets and industries, with potential applications for automotive, aerospace, agriculture, chemical manufacturing, military and first responders, worker safety, food and beverage processing, and medical.

In January 2021, the Company announced a partnership, in the ordinary course of business, with Simplenight to provide drivers and vehicle occupants with access to enhanced mobile capability for booking personalized entertainment and lifestyle experiences in addition to everyday purchases.

In 2021, the Company announced a partnership, in the ordinary course of business, with Simplenight to provide drivers and vehicle occupants with access to enhanced mobile capability for booking personalized entertainment and lifestyle experiences in addition to everyday purchases.

Simplenight delivers a customizable and robust platform that enables brands to globally offer real-time book-ability across multiple categories such as dining, accommodations, attractions, events, gas, parking, shopping and more.

2 unchanged sentences

HomeLink ® consists of vehicle-integrated buttons that can be programmed to operate a myriad of home automation devices.

Integration of Simplenight into the Company's HomeLink Connect ® app is underway.

Integration of Simplenight into the Company's HomeLink Connect ® app is occurring.

The HomeLink Connect ® allows users to program their HomeLink ® buttons and control cloud-based devices from their vehicles.

In September 2021, the Company announced the acquisition of Guardian Optical Technologies ("Guardian"), an Israeli startup that pioneered a unique, multi-modal sensor technology designed to provide a comprehensive suite of driver- and cabin-monitoring solutions for the automotive industry.

Also in 2021, the Company announced the acquisition of Guardian Optical Technologies ("Guardian"), an Israeli startup that pioneered a unique, multi-modal sensor technology designed to provide a comprehensive suite of driver- and cabin-monitoring solutions for the automotive industry.

The core of Guardian’s technology is an infrared-sensitive, high-resolution camera that combines machine vision, depth perception, and micro-vibration detection.

3 unchanged sentences

In 2022, the Company obtained an approximate 20% equity share in GreenMarbles, in the ordinary course of business.

GreenMarbles is a leading provider of sustainable solutions for integration into properties.

The Company intends for this relationship to promote the HomeLink Connect ® App with property developers and contractors.

On May 1, 2023, the Company announced a partnership, in the ordinary course of business, with Adasky Ltd.

GreenMarbles is a provider of sustainable solutions for integration into properties.

The Company intends for this relationship to promote the HomeLink Connect ® App, PLACE ® and HomeLink Smart Home Solutions ® with property developers and contractors.

In 2023, the Company announced a partnership, in the ordinary course of business, with Adasky Ltd.

("Adasky"), a developer and manufacturer of intelligent, high-resolution thermal sensing systems for vehicle safety and perception applications and smart city roadway solutions.

In addition to the partnership, the Company has obtained an approximate 27% equity share in Adasky.

On November 2, 2023, the Company acquired certain technology assets from eSight Corporation ("eSight"), in the ordinary course of business.

Also in 2023, the Company acquired certain technology assets from eSight Corporation ("eSight"), in the ordinary course of business.

The technology acquired from eSight provides advanced and versatile low-vision smart glasses for those with visual impairments and is compatible with more than 20 eye conditions including Macular Degeneration, Diabetic Retinopathy, and Stargardt disease.

eSight wearables are inspected and registered by

public health officials.

Esight 4, which is the fourth generation of the product, is a Class 1 Medical Device that is registered with the FDA, registered with EUDAMED, and inspected by Health Canada.

eSight wearables are inspected and registered by public health officials.

eSight 4, which is the fourth generation of the product, is a Class 1 Medical Device that is

registered with the FDA, registered with EUDAMED, and inspected by Health Canada.

The Company has been developing, initially for contract manufacture and now as the owner, the technology, referred to as eSightGo ® .

Deliveries of eSightGo to customers are expected to begin in calendar year 2024.

On January 8, 2024, the Company announced a partnership, in the ordinary course of business, with Solace Power, an innovative wireless power transfer technology company.

Deliveries of eSightGo to customers which began shipping in calendar year 2024.

In January 2024, the Company announced a partnership, in the ordinary course of business, with Solace Power, an innovative wireless power transfer technology company.

This collaboration is intended to further develop, manufacture, and commercialize Solace Power’s unique wireless power systems for a wide variety of industries.

1 unchanged sentence

The Company believes Solace Power’s technology not only has immediate applications in the current Company product portfolio, but can also play an important role in the Company’s continued expansion into new markets.

On January 9, 2024, the Company announced the introduction of a suite of smart home safety products with room-specific functionality called PLACE.

Also in 2024, the Company announced the introduction of a suite of smart home safety products with room-specific functionality called PLACE ® .

PLACE offers a holistic solution that blends smart home safety, comfort, and security features into one sophisticated system, all controlled from a single, user-friendly app.

2 unchanged sentences

The system’s versatility is further demonstrated through specialized units for the kitchen, nursery, and garage, each equipped with additional safeguards like gas and VOC detection, room-monitoring cameras, intercoms, and temperature and humidity sensing, as appropriate to the application.

In November 2024, the Company acquired GalvanEyes, LLC, which is the managing partner and 50% owner of the BioCenturion joint venture with Eyelock, a subsidiary of VOXX.

BioCenturion specializes in creating and deploying authentication solutions to help clients secure their worlds, optimize their workload, and organize their data through customized biometric solutions.

The company's significant IP portfolio, including more than 100 patents granted, patents pending, and proprietary technology enables a high-speed, convenient, touchless, contactless, frictionless, and secure authentication of individuals across different business verticals.

On December 17, 2024, as previously disclosed, the Company entered into a definitive agreement and plan of merger for the Company to acquire shares of VOXX in an all-cash transaction.

Under the terms of the agreement, the Company will acquire all the issued and outstanding shares of VOXX common stock not already owned by the Company for a purchase price of $7.50 per share.

The transaction is subject to approval of VOXX’s stockholders, certain regulatory approvals, and other customary closing conditions, and is expected to close in the end of the first quarter or the first part of the second quarter of 2025.

The acquisition of VOXX is a strategic addition to the Gentex portfolio of products.

The majority of the revenue of VOXX is comprised of automotive OEM and aftermarket business, as well as the consumer electronics industry.

Through the transaction, Gentex will gain full access to the EyeLock ® iris biometric technology, which represents a unique, extremely accurate and highly secure method of authentication, which will provide further product applications into the Gentex automotive, aerospace and medical markets.

The acquisition will also include the Premium Audio Company, which is known as the most innovative and complete premium audio solution provider in the consumer technology space and includes world renowned brands such as Klipsch ® , Onkyo ® and Integra ® .

Gentex believes its expertise in high volume manufacturing will help the Premium Audio team to continue its expansion in the consumer technology and connected home space, through newly launched Gentex products, such as Place™, and HomeLink Smart Home Solutions™.

Additionally, the Gentex sales and business development teams will further equip the Premium Audio team with additional automaker exposure to build on the early success of several OEM launches of Klipsch ® Reference Premiere audio systems.

The Company believes the acquisition of VOXX will contribute to its long-term growth and profitability strategies and create shareholder value through increasing revenue in existing and new markets, potential growth stemming from acquired technologies, significant net asset values and trapped tax losses, as well as the combined brand value and reputation of the VOXX family of brands.

Automotive revenues represent approximately 98% of the Company's total revenue in 2024, mostly consisting of interior and exterior electrochromic automatic-dimming rearview mirrors and automotive electronics.

9 unchanged sentences

The Company manufactures interior electrochromic automatic-dimming rearview mirrors that darken to reduce glare and improve visibility for the driver.

These electronic interior mirrors can also include additional electronic features such as compass, microphones, HomeLink ® , interior driver and cabin monitoring systems, lighting assist and driver assist forward safety camera systems, various lighting systems, various telematics systems, ITM ® systems, and a wide variety of displays, including the FDM ® product.

These electronic interior mirrors can also include additional electronic features such as compass, HomeLink ® , interior driver and cabin monitoring systems, lighting assist and driver assist forward safety camera systems, various lighting systems, various telematics systems, ITM ® systems, and a wide variety of displays, including the FDM ® product.

The Company also ships interior non-automatic-dimming rearview mirrors with and without features.

2 unchanged sentences

The Company also ships exterior non-automatic-dimming rearview mirrors with similar electronic features available in its automatic-dimming applications.

The Company manufactures other automotive electronics products through HomeLink ® applications in the vehicle including the rearview mirror, interior visor, overhead console, or center console.

Certain of the Company's newer features can be located either in the rearview mirror or other locations in the vehicle.

The Company manufactures other automotive electronics products as a part of HomeLink ® applications in the vehicle including the rearview mirror, interior visor, overhead console, or center console.

Certain of the Company's features can be located either in the rearview mirror or other locations in the vehicle.

Additionally, as the Company expands its FDM ® product and the ITM ® system, rearward facing video cameras, digital video recording, and integrated toll transponders are being produced and sold.

2 unchanged sentences

The Company is the leading manufacturer of electrochromic automatic-dimming rearview mirrors in the world, and is the largest supplier to the automotive industry.

Competitors for automotive rearview mirrors include Magna International ("Magna"), Fudi Technology, Aolian, Ultronix, Tokai Rika Company, SMR Automotive, Intertech, Adayo, Sincode, Mike Shanghai, Guangdong Yangfeng Electronic Technology Co.

Licon, MirrorTech, Amblilight, and Chongqing Yimei.

Competitors for automotive rearview mirrors include Magna International ("Magna"), Fudi Technology, Findream Technology, Kingband, Acson, Nigbo Huichang, Panasonic, Aolian, Ultronix, Tokai Rika Company, SMR Automotive, Intertech, Adayo, Sincode, Licon, Amblight, Mirrortech, Mike Shanghai, Guangdong Yangfeng Electronic Technology Co.

Ltd., Guangdong E-Think Technology Company, Hubei SL, Shanxi Coal, and Chongqing Yimei.

The Company also supplies electrochromic automatic-dimming rearview mirrors to certain of these rearview mirror competitors.

3 unchanged sentences

SmartBeam ® , HomeLink ® , HomeLink Connect ® , frameless mirror designs, compass displays, telematics, ITM ® systems, hands free communication, Rear Camera Display ("RCD") interior mirrors, FDM ® interior mirrors, digital video recording solutions, exterior turn signals, side blind zone indicators and various other exterior mirror features that improve safety and field of view.

Advanced features currently in development include:

biometric authentication systems, hybrid and fully digital camera monitoring systems ("CMS"), driver and cabin monitoring systems, cabin sensing systems, touch screen displays for mirrors, and digital enhancements to displays to improve driver safety, among other things.

Advanced features currently in development and/or being sold include:

biometric authentication systems;

hybrid and fully digital camera monitoring systems ("CMS");

driver and cabin monitoring systems;

cabin sensing systems;

touch screen displays for mirrors;

and digital enhancements to displays to improve driver safety, among other things.

Other automotive products currently in development include large area dimmable devices, which include sunroof and moon roof applications, driver and passenger windows, interior sun-visors and other window surfaces in vehicles, among others.

3 unchanged sentences

The Company generally supplies automatic-dimming mirrors and mirrors with advanced electronic features to its customers worldwide under annual blanket purchase orders with customers, as well as under long-term agreements with certain customers, entered into in the ordinary course of the Company's business.

The Company is currently supplying mirrors and electronic modules for Aston Martin, BMW Group, Daimler Group, Faraday Future, Ferrari, Ford Motor Co., Geely/Volvo, General Motors, Harley Davidson, Honda Motor Co., Hyundai/Kia, Lucid Motors, Mazda, Maruti Suzuki, Mahindra & Mahindra, McLaren, Polaris, Renault/Nissan/Mitsubishi Group, Rivian Automotive, Stellantis, Subaru, Suzuki, Tata Motors, Tesla, TOGG Inc., Toyota Motor Company, Volkswagen Group, VOXX International, as well as shipments to domestic China manufacturers (BYD, Chery, Dongfeng, FAW, Great Wall Motors, Human Horizon, King Long, Lixiang Auto, NIO, SAIC, and Xpeng EV).

The Company is currently supplying mirrors and electronic modules for Aston Martin, BMW Group, Daimler Group, Faraday Future, Ferrari, Ford Motor Co., Geely/Volvo, General Motors, Harley Davidson, Honda Motor Co., Hyundai/Kia, Isuzu Motors, Kawasaki Heavy Industries, KG Ssangyong Mobility, Lucid Motors, Mazda, Maruti Suzuki, Mahindra & Mahindra, McLaren, Polaris, Renault/Nissan/Mitsubishi Group, Rivian Automotive, Stellantis, Subaru, Tata Motors, Tesla, TOGG Inc., Toyota Motor Company, Volkswagen Group, VOXX, and Yamaha, as well as shipments to domestic China manufacturers (Chery, Dongfeng, FAW, Great Wall Motors, Human Horizon, King Long, Lixiang Auto, NIO, SAIC, and Xpeng EV).

Revenues by major geographic area are disclosed in Note 7 of the Consolidated Financial Statements.

2 unchanged sentences

In some instances, Company products, such as the FDM ® , appeal to consumers who are interested in new technology, while also resolving rearward vision limitations created by vehicle design changes that increase aerodynamics.

The Company has contributed to this differentiation strategy, allowing OEMs to maximize profitability and optionality by providing profitable, mirror-based and in-vehicle technologies that consumers demand.

The Company has contributed to this differentiation strategy, allowing OEMs to maximize profitability and optionality by providing mirror-based and in-vehicle technologies that consumers demand.

As more consumers have become familiar with interior and exterior dimming mirrors, HomeLink ® , FDM ® , ITM ® , and other Company technologies, consumers have continued to select these technologies in their subsequent vehicles, driving further market and nameplate penetration as OEMs launch new vehicles and expand into new markets.

Where OEMs had historically used Company technologies only to differentiate from one another, they now also use Company technologies to differentiate trim lines across their own nameplates.

OEMs have historically used Company technologies only to differentiate from one another, but are now also using Company technologies to differentiate trim lines across their own nameplates.

In new markets, emerging OEMs have recognized the need to include Company products in their vehicles to compete with global OEMs.

2 unchanged sentences

While the Company believes it will retain a significant position in automatic-dimming rearview mirrors for some time, another U.S.

manufacturer, Magna Mirrors, a division of

Magna, continues to compete for sales to domestic and foreign vehicle manufacturers and is supplying a number of domestic and foreign vehicle models with its versions of auto-dimming mirrors and appears to have considerably more resources available to it.

manufacturer, Magna Mirrors, a division of Magna, continues to compete for sales to domestic and foreign vehicle manufacturers and is supplying a number of domestic and foreign vehicle models with its versions of auto-dimming mirrors and appears to have considerably more resources available to it.

As such, Magna may present a formidable competitive threat.

5 unchanged sentences

The Company acknowledges that dimming device (e.g., electrochromic) technology is the subject of research and development efforts by numerous third parties.

The platform is unique in that it is designed to seamlessly integrate into automaker infotainment and navigation systems, as well as mobile applications and voice assistants.

Simplenight can be integrated into the Company's current and future connected vehicle technologies, including HomeLink ® , the automotive industry’s leading car-to-home automation system.

HomeLink ® consists of vehicle-integrated buttons that can be programmed to operate a myriad of home automation devices.

Integration of Simplenight into the Company's HomeLink Connect ® app is underway.

The HomeLink Connect app allows users to program their HomeLink ® buttons and control cloud-based devices from their vehicles.

In 2022, the Company obtained an approximate 20% equity share in GreenMarbles, in the ordinary course of business.

GreenMarbles is a leading provider of sustainable solutions for integration into real properties.

The Company intends for this relationship to promote the HomeLink Connect ® App with real property developers and contractors.

The Company believes its electrochromic automatic-dimming mirrors and mirrors with advanced electronic features offer significant performance advantages over competing products and the Company makes significant research and development investments to continue to increase and improve the performance advantages of its products and to potentially add new products.

2 unchanged sentences

The Company has also continued to invest in new technologies to improve manufacturing processes.

In 2020, the Company, in the ordinary course of business, completed the acquisition of Argil, Inc., an electrochromic technology and research and development company, which the Company anticipates using to complement and expand its product offerings and leverage for manufacturing efficiencies.

In 2020, the Company, in the ordinary course of business, completed the acquisition of Argil, Inc., an electrochromic technology and research and development company, which the

Company anticipates using to complement and expand its product offerings and leverage for manufacturing efficiencies.

While automatic-dimming mirrors using other technologies may eliminate glare, the Company currently believes that each of these other technologies have inherent cost or performance limitations as compared to the Company's technologies.

6 unchanged sentences

Later in 2019, the first production shipments of variably dimmable windows were made to Boeing for the 777X program.

As previously

announced, Airbus is now offering, as optional content, the Company's dimmable aircraft windows on its aircraft, with production having begun in 2021.

As previously announced, Airbus is now offering, as optional content, the Company's dimmable aircraft windows on its aircraft, with production having begun in 2021.

Markets and Marketing.

The Company markets its variable dimmable windows to aircraft manufacturers and airline operators globally.

The Company’s variable dimmable aircraft windows are the first commercialized product of its kind for original equipment installation in the aircraft industry.

Other manufacturers are working to develop and sell competing products utilizing other technology in the aircraft industry for aftermarket or original equipment installation.

The Company’s success with electrochromic technology provides potential opportunities and use cases for other commercial applications, which the Company continues to explore.

including, but not limited to passenger smart-lighting that automatically optimizes illumination for various in-flight activities like reading, dining, or computer work;

The Company’s variable dimmable aircraft windows were the first commercialized product of its kind for original equipment installation in the aircraft industry.

Other manufacturers are developing and/or selling competing products utilizing other technology in the aircraft industry for aftermarket or original equipment installation.

The Company’s success with electrochromic technology provides potential opportunities and use cases for other commercial applications, which the Company continues to explore, including, but not limited to:

passenger smart-lighting that automatically optimizes illumination for various in-flight activities like reading, dining, or computer work;

biometric systems for personalizing the in-flight experience;

2 unchanged sentences

The Company manufactures photoelectric smoke detectors and alarms, visual signaling alarms, photoelectric smoke alarms and electrochemical carbon monoxide alarms, electrochemical carbon monoxide alarms and detectors, audible and visual signaling appliances, and bells and speakers for use in fire detection systems in office buildings, hotels, and other commercial and residential establishments.

On January 9, 2024, the Company announced the introduction of a suite of smart home safety products with room-specific functionality called PLACE.

In January 2024, the Company announced the introduction of a suite of smart home safety products with room-specific functionality called PLACE.

PLACE offers a holistic solution that blends smart home safety, comfort, and security features into one sophisticated system, all controlled from a single, user-friendly app.

9 unchanged sentences

In the signaling appliance markets, the Company estimates it competes with approximately seven manufacturers.

While the Company faces significant competition in the sale of smoke detectors and signaling appliances, it believes that the introduction of new products, improvements to its existing products, its diversified product line, and the availability of special features will permit the Company to maintain its competitive position.

While the Company faces significant competition in the sale of smoke detectors and signaling appliances, it believes that the introduction of new products, improvements to its

existing products, its diversified product line, and the availability of special features will permit the Company to maintain its competitive position.

Nanofiber Products and Development

9 unchanged sentences

The Company continues to further develop and work on the intelligent medical lighting system in order to assess system performance and work toward obtaining any necessary approvals.

On November 2, 2023, the Company acquired certain technology assets from eSight.

In November 2023, the Company acquired certain technology assets from eSight.

1 unchanged sentence

eSight4 is a Class 1 Medical Device that is registered with the FDA, registered with EUDAMED, and inspected by Health Canada.

Deliveries of eSightGo are expected to begin in 2024.

Deliveries of eSightGo began in 2024.

Markets and Marketing.

The Company markets and sells the eSight smart glasses directly to consumers that have visual impairments or eye conditions, The Company also sells the eSight product through authorized distributors.

Biometrics Products and Development

In November 2024, the Company acquired GalvanEyes, LLC, which is the managing partner and 50% owner of the BioCenturion joint venture with Eyelock, a subsidiary of VOXX.

BioCenturion's significant IP portfolio, including more than 100 patents granted, patents pending, and proprietary technology enables a high-speed, convenient, touchless, contactless, frictionless, and secure authentication of individuals across different business verticals.

Markets and Marketing.

The Company markets and sells identity authentication and access control products utilizing the biometrics technology.

The Company sells these products through its normal sales process and through authorized distributors.

Trademarks and Patents

The Company owns 50 U.S.

Registered Trademarks and 772 U.S.

Patents, of which 40 Registered Trademarks and 641 patents relate to electrochromic technology, automotive rearview mirrors, microphones, displays, cameras, sensor technology, smart lighting technology, and/or HomeLink ® products.

These patents expire at various times between 2024 and 2044.

The Company believes that these patents provide the Company a competitive advantage in its markets, although no single patent is necessarily required for the success of the Company’s products.

The Company also owns 399 foreign Registered Trademarks and 1,458 foreign patents, of which 384 Registered Trademarks and 1,125 patents relate to electrochromic technology, automotive rearview mirrors, microphones, displays, cameras, sensor technology, and/or HomeLink ® products.

These patents expire at various times between 2024 and 2048.

The Company believes that the competitive advantage derived in the relevant foreign markets for these patents is comparable to that applicable in the U.S.

The Company owns 76 U.S.

Patents and 99 foreign patents that relate specifically to the Company’s variable dimmable windows.

Patents expire at various times between 2026 and 2044, while the foreign patents expire at various times between 2027 and 2040.

The Company owns 10 U.S.

As of January 31, 2025, the Company owned 49 U.S.

Registered Trademarks, 815 U.S.

Patents, 15 foreign Registered Trademarks, and 12 foreign patents that relate to the Company’s fire protection products.

Patents expire at various times between 2026 and 2043, while the foreign patents expire at various times between 2026 and 2030.

The Company believes that the competitive advantage provided by these patents is relatively small.

Patents, 380 foreign Registered Trademarks, and 1,498 foreign patents.

The vast majority of these Registered Trademarks and Patents relate to the Company's core industries of automotive, aerospace, fire protection, as well as medical devices.

The Company believes these patents and trademarks provide and competitive advantage, though.

no single patent or trademark is necessarily required for the success of the Company’s products.

Many of these patents and registered trademarks relate to electrochromic technology, automotive rearview mirrors, displays, cameras, sensor technology, smart lighting technology, HomeLink ® , variably dimmable windows, automotive visors, driver and cabin monitoring systems, fire protection technologies, and medical devices.

These patents expire at various times between 2025 and 2046.

The Company also has in process 186 U.S.

Patent applications, 257 foreign patent applications, and 35 Registered Trademark applications.

Patent applications, 295 foreign patent applications, 18 U.S.

Registered Trademark applications, and 50 foreign registered trademark applications.

The Company continuously seeks to improve its core and acquired technologies and apply those technologies to new and existing products.

2 unchanged sentences

Human Capital Resources

As of February 1, 2024, the Company had 6,245 full-time employees.

As of January 31, 2025, the Company had 6,184 full-time employees.

None of the Company’s employees are represented by a labor union or other collective bargaining representative.

17 unchanged sentences

and crop share, which offers employees fresh fruits and vegetables weekly.

The Company has also announced the creation of the Gentex Discovery Preschool, an on-site daycare and preschool designed to provide employees with convenient, cost-effective access to quality day care.

The Company has also broken ground on the Gentex Discovery Preschool, an on-site daycare and preschool designed to provide employees with convenient, cost-effective access to quality day care.

The Company is extremely proud of its workplace injury prevention programs, which have achieved workplace injury rates well below industry averages.

Evidence of the Company's commitment to inclusion is its cultivation of a world-class diversity, equity & inclusion ("DE&I") ethos that allows team members to make a lasting impact in the communities in which the Company operates, all while attracting and retaining diverse talent that can help propel the business forward.

While the Company has an environment of equal employment opportunity related to recruitment, hiring, promotion, discipline, and other terms of employment, the commitment to have a skilled and diverse world class workforce goes beyond that.

The Company's DE&I initiatives are supported by its VP of Diversity, Equity, & Inclusion and DE&I Council, which helps implement specific diversity programs, supports internal training, and creates opportunities to spread awareness throughout the organization.

Evidence of the Company's commitment to inclusion is its cultivation of a genuine diversity, equity & inclusion ("DE&I") ethos that allows team members to make a lasting impact in the communities in which the Company operates, all while attracting and retaining diverse talent that can help propel the business forward.

The Company's DE&I initiatives are supported by its Vice President of Diversity, Equity, & Inclusion and DE&I Council, which helps implement specific diversity programs, supports internal training, and creates opportunities to spread awareness throughout the organization.

The Company's DE&I Council is led by Mr.

Joe Matthews, VP of Diversity, Equity, & Inclusion and includes employees from a variety of departments.

The Company's DE&I initiatives are further supported by the DE&I Advisory Board, which is led by Mr.

Joe Matthews and includes employees from a variety of departments.

The Company's DE&I initiatives are further supported by the DE&I Advisory Board, which is also led by Mr.

Matthews, and includes various executives, including the CEO, and two external members who are experts in the field of diversity, equity, and inclusion.

As a part of DE&I initiatives, the Company maintains a growing list of business resource groups ("BRGs") comprised of individuals with similar interests or backgrounds who work internally to support one another, develop leadership skills, and enhance cultural awareness.

Among current BRGs are Women@Gentex and Gentex V.E.T.S.

As a part of DE&I ethos, the Company maintains a growing list of business resource groups ("BRGs") comprised of individuals with similar interests or backgrounds who work internally to support one another, develop leadership skills, and enhance cultural awareness.

Among current BRGs are Women@Gentex, Gentex V.E.T.S., and Emerging Professionals.

In 2023, the Company received a Pillar Award from the Women’s Resource Center in Grand Rapids for advancing women in the workplace.

2 unchanged sentences

This separate council has supported students from diverse backgrounds and sponsored events to raise awareness to global causes.

In 2024, the Gentex Salt Lake City DEI council awarded the first recipient of its Material Science Scholarship in partnership with the University of Utah.

Scholarship recipients receive $2,000/year for two years from the Company and a matching $1,000/year from the John and Marcia Price College of Engineering at the University of Utah.

DE&I efforts at the Company extend to the supply base as well, where the Company has been recognized for ongoing efforts to increase supplier relationships with certified minority, woman, veteran, and LGBTQ+-owned enterprises.

4 unchanged sentences

The Company produces a Sustainability Report, referenced below, providing more information regarding diversity and corporate responsibility.

To ensure an excellent and increasingly diverse employment base, the Company has added Spanish speaking manufacturing lines, which involve translating materials for recruiting, orientation, on-boarding, training, and work in the Spanish language.

The Company’s Director of Talent Acquisition was honored as one of the 25

Most Influential Latinos in West Michigan for his work to promote the Company’s Limited English Proficiency Program.

The Company’s Corporate Controller and Senior Director of Accounting was honored as one of the 25 Most Influential Latinos in West Michigan for her work to establish the Company’s Limited English Proficiency Program.

The Company was also presented with a DE&I Champion Award from the MEMA Original Equipment Suppliers Association for championing the spirit of DEI within the organization and in the communities where its employees live.

7 unchanged sentences

Support is also provided to a number of minority organizations in keeping with the Company's DE&I efforts and to continue to build an even more diverse and skilled workforce.

The Company's Board of Directors (the "Board") has regular touchpoints with management regarding:

The Company's Board of Directors (the "Board") and its committees have regular touchpoints with management regarding:

employee engagement;

3 unchanged sentences

The Board and management know that the right talent is required to implement the Company's strategies.

As such, the Board works with management appropriately regarding the approach to, and investment in, human capital that includes recruitment, talent development, retention, and diversity.

The Board has access to all levels of employees in the Company in its efforts to properly oversee human resources and DE&I issues.

As such, the Board and its committees work with management regarding the approach to, and investment in, human capital that includes recruitment, talent development, retention, and diversity.

The Board and its committees have access to all levels of employees in the Company in its efforts to properly oversee human resources and DE&I issues.

The Company's commitment to DE&I is very apparent by the inclusiveness of the Board.

1 unchanged sentence

Such candidates are contacted and interviewed in order to continue to build an even more diverse, qualified, and capable Board.

In the Company's 2023 Proxy Statement, the Company disclosed Board diversity information as required by NASDAQ, and will continue to do so in the future.

In the Company's 2024 Proxy Statement, the Company disclosed Board diversity information in accordance with NASDAQ rules.

The Board has also implemented a Complaint Submission and Handling Policy for concerns to be raised as needed.

3 unchanged sentences

The Company's Sustainability Report, published each year and available on the Company's website, provides significant details regarding the Company's approach to sustainability.

The Company makes intentional decisions that reflect the desire to be responsible with all resources and achieve the Company's goal of meaningful change.

The Company makes intentional decisions that reflect the desire to be responsible with all resources and achieve the Company's goal of meaningful improvement.

Energy and Climate Change.

48 unchanged sentences

and acquired property which includes natural wetlands.

As regards transportation, the Company maintains:

As regards transportation, the Company

30 electric vehicle charging stations;

7 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