2 unchanged sentences
Cybersecurity Risk Management and Strategy
+Added: 16 | December 28, 2024 Form 10-K
The Company’s cybersecurity policies, standards, processes, and practices for assessing, identifying and managing material risks from cybersecurity threats and responding to cybersecurity incidents are part of the Company’s overall risk assessment efforts.
6 unchanged sentences
The Company also conducts information security and awareness training to ensure that employees are aware of information security risks and to enable them to take steps to mitigate those risks .
−Removed: Role of the Board
−Removed: The Board is responsible for cybersecurity risk oversight and receives periodic updates from management on the Company’s cybersecurity program, threats, and defense measures implemented.
−Removed: Additionally, our Chief Technology Officer ("CTO") provides updates to the Board on an as needed basis with respect to cybersecurity risks or any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such cybersecurity incident until it has been remediated.
+Added: Role of the Board of Directors
+Added: The Audit Committee and the Board of Directors are responsible for the oversight of cybersecurity risk.
+Added: The Audit Committee and Board of Directors receive periodic updates from management on the Company's cybersecurity program, threats, and defense measures implemented.
+Added: Additionally, our Senior Vice President of Information Technology ("SVP - IT") provides updates to the Board of Directors on an as needed basis with respect to cybersecurity risks or any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such cybersecurity incident until it has been remediated .
Role of Management
−Removed: Our CTO oversees and provides accountability related to our cybersecurity risk management strategy and overall information security program.
−Removed: The CTO’s cybersecurity team is led by a Director of Information Technology Security.
−Removed: The cybersecurity team is responsible for leading enterprise-wide cybersecurity strategy, policy,
−Removed: 17 | December 30, 2023 Form 10-K
−Removed: standards, architecture, and processes.
+Added: Our SVP-IT oversees and provides accountability related to our cybersecurity risk management strategy and overall information security program.
+Added: The SVP-IT’s cybersecurity team is led by a Director of Information Technology Security.
+Added: The cybersecurity team is responsible for leading enterprise-wide cybersecurity strategy, policy, standards, architecture, and processes.
The program incorporates policies and practices designed to protect the privacy and security of our sensitive information.
1 unchanged sentence
In addition to our internal security staff, we partner with various third-party security service providers to augment our staffing, expertise, and hours of operation.
−Removed: The CTO regularly reports to our senior leadership team, as well as periodically to our Board of Directors, regarding our cybersecurity program and material cybersecurity risks.
−Removed: The CTO coordinates with other teams including internal Audit, to ensure a combined focus on technology modernization and remediation needs.
−Removed: The CTO is briefed weekly on current security operations and relevant issues across the cybersecurity threat landscape.
+Added: The cybersecurity team leverages tools and systems such as Security Information and Event Management ("SIEM"), for real time alerts and insights.
+Added: The SVP-IT regularly reports to our senior leadership team, as well as periodically to our Board of Directors , regarding our cybersecurity program and material cybersecurity risks.
+Added: The SVP-IT coordinates with other teams including internal Audit, to ensure a combined focus on technology modernization and remediation needs.
+Added: The SVP-IT is briefed weekly on current security operations and relevant issues across the cybersecurity threat landscape.
Current Cybersecurity Events
In late May 2023, we experienced a ransomware attack relating to certain systems on our network (the “Cybersecurity Incident”).
−Removed: We promptly initiated an investigation, engaged the services of cyber-security experts and outside advisors and worked with appropriate law enforcement authorities to contain, assess and remediate the Cybersecurity Incident.
+Added: We promptly initiated an investigation, engaged the services of cybersecurity experts and outside advisors and worked with appropriate law enforcement authorities to contain, assess and remediate the Cybersecurity Incident.
The Cybersecurity Incident affected certain of our information technology systems, and as part of the containment effort, we suspended affected systems and elected to temporarily suspend additional systems in an abundance of caution.
We reactivated and restored our operational systems over the course of the week following the Cybersecurity Incident.
−Removed: The Cybersecurity Incident related costs net of an expected insurance receivable totaled $1.0 million.
−Removed: Our system remediation efforts regarding the Cybersecurity Incident have substantially concluded as of December 30, 2023.
+Added: In 2023, the Cybersecurity Incident related costs net of an expected insurance receivable totaled $1.0 million.
+Added: Our system remediation efforts regarding the Cybersecurity Incident were concluded as of December 30, 2023.
+Added: In the fourth quarter of 2024, we received proceeds from our insurance claim that exceeded the amount recorded as a receivable by $0.6 million.
+Added: These proceeds represented the cost associated with lost revenue and incremental expenses incurred.
+Added: 17 | December 28, 2024 Form 10-K
As of the date of this report, the Company is not aware of any risks from cybersecurity threats that have materially affected or are reasonably likely to materially affect the Company, including its business strategy, results of operations, or financial condition.
2 unchanged sentences
We plan to continually invest in efforts to enhance data security in response to developments in the cybersecurity landscape.
−Removed: 18 | December 30, 2023 Form 10-K
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.