13 unchanged sentences
or detected on a timely basis.
−Removed: identified the following material weaknesses in our internal control over financial reporting related to its accounting
−Removed: for shares surrendered to cover personal income tax liabilities, the calculation of shares issued and outstanding, and weighted-average
−Removed: shares outstanding.
−Removed: The Company did not maintain a compliment of accounting personnel with sufficient knowledge, experience and training
−Removed: in the application of US.
+Added: identified the following material weaknesses in our internal control over financial reporting related to its accounting for shares surrendered
+Added: to cover personal income tax liabilities, the calculation of shares issued and outstanding, and weighted-average shares outstanding.
+Added: The Company did not maintain a compliment of accounting personnel with sufficient knowledge, experience and training in the application
GAAP as it relates to accounting and reporting for equity compensation.
−Removed: This material weakness
−Removed: contributed to a failure to maintain effective controls over the accounting and reporting for stock options.
+Added: This material weakness contributed to a failure to maintain
+Added: effective controls over the accounting and reporting for stock options.
Historically,
the Company managed the administration and recordkeeping of the Company’s equity compensation in-house.
−Removed: this complex process was unduly burdensome and directly contributed to the material weakness.
−Removed: in the second quarter of 2022, the Company will no longer maintain the administration and recordkeeping of its equity compensation plans
−Removed: internally but instead will outsource this function to a third-party brokerage firm specializing in these tasks.
−Removed: This specialization will improve the accuracy of reporting and the Company’s legal and regulatory compliance around equity compensation.
−Removed: Company has also engaged a professional services firm to oversee the implementation of a global broker-dealer firm specializing
−Removed: in equity compensation platforms, as well as provide recommendations on best practices, processes, and internal controls going
+Added: Managing this complex process
+Added: was unduly burdensome and directly contributed to the material weakness.
+Added: the second half of 2022, the Company will no longer maintain the administration and recordkeeping of its equity compensation plans internally
+Added: but instead will outsource this function to a third-party brokerage firm specializing in these tasks.
+Added: This specialization will improve
+Added: the accuracy of reporting and the Company’s legal and regulatory compliance around equity compensation.
+Added: Company has also engaged a professional services firm to oversee the implementation of a global broker-dealer firm specializing in equity
+Added: compensation platforms, as well as provide recommendations on best practices, processes, and internal controls going forward.
in Internal Controls over Financial Reporting
6 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.