1 unchanged sentence
We are subject to litigation, claims, investigations and audits arising from time to time in the ordinary course of our business.
−Removed: Although legal proceedings are inherently unpredictable, we believe that we have valid defenses with respect to those matters currently pending against us and intend to defend our self vigorously.
+Added: Although legal proceedings are inherently unpredictable, we believe that we have valid defenses with respect to those matters currently pending against us and intend to defend ourself vigorously.
The outcome of these matters, individually and in the aggregate, is not expected to have a material impact on our cash flows, results of operations, or financial position.
1 unchanged sentence
ERA was a sales representative of Themis when Themis was acquired by Mercury.
−Removed: The sales representative agreement provided for termination by either party upon 30 days written notice with ERA entitled to commissions for orders obtained by ERA product shipment occurring prior to termination.
−Removed: We responded to the complaint on July 28, 2021.
+Added: The sales representative agreement provided for termination by either party upon 30 days written notice with ERA entitled to commissions for orders obtained by ERA with product shipment occurring prior to termination.
+Added: We responded to the complaint in July 2021 and the arbitration proceeding has been scheduled for September 2022.
We believe the claims in the complaint are without merit and we intend to defend ourselves vigorously.
+Added: On December 7, 2021, counsel for National Technical Systems, Inc.
+Added: (“NTS”) sent us an environmental demand letter pursuant to Massachusetts General Laws Chapter 21E, Section 4A, and CERCLA 42 U.S.C.
+Added: Section 9601, related to a site that NTS formerly owned at 533 Main Street, Acton, MA.
+Added: NTS received a Notice of Responsibility from the Massachusetts Department of Environmental Protection (“MassDEP”) alleging trichloroethene, freon and 1,4-dioxane contamination in the groundwater emanating from NTS’s former site.
+Added: NTS alleges in its demand letter that the operations of a predecessor company to Mercury that was acquired in our acquisition of the Microsemi Carve-Out Business that once owned and operated a facility at 531 Main Street, Acton, MA contributed to the groundwater contamination.
+Added: NTS is seeking payment from us of NTS’s costs for any required environmental remediation.
+Added: In April 2022, we engaged in a meet and confer session with NTS pursuant to Massachusetts General Laws Chapter 21E, Section 4A to discuss the status of the environmental review performed by NTS and its licensed site professional.
+Added: In addition in November 2021, we responded to a request for information from MassDEP regarding the detection of PFAS (per- and polyfluoroakyl substances) in the Acton, MA Water District’s Conant public water supply wells near the former facility at 531 Main Street, Acton, MA at a level above the standard that MassDEP published for PFAS in October 2020.
+Added: It is too early to determine what responsibility, if any, we may have for these matters.
MINE SAFETY DISCLOSURES
2 unchanged sentences
Our executive officers are appointed to office by the Board of Directors at the first board meeting following the Annual Meeting of Shareholders or at other board meetings as appropriate, and hold office until the first board meeting following the next Annual Meeting of Shareholders and until a successor is chosen, subject to prior death, resignation or removal.
−Removed: Perry was appointed as an executive officer as of August 3, 2021.
−Removed: Thibaud, our Executive Vice President, Chief Operating Officer (COO), is retiring as COO effective as of August 26, 2021.
Information regarding our executive officers as of the date of filing of this Annual Report on Form 10-K is presented below.
10 unchanged sentences
Cambria was an Associate with Fried, Frank, Harris, Shriver & Jacobson and Cravath, Swaine & Moore.
+Added: Thomas Huber , age 45, joined Mercury in September 2021 as Executive Vice President, Chief Transformation Officer.
+Added: Prior to joining Mercury, Mr.
+Added: Huber was a Managing Director and Partner at the Boston Consulting Group from 2019 to September 2021, serving as a core member of their transformation and operations practice areas.
+Added: Huber was a Managing Director and Partner at Bain & Company, working with clients in strategy, operations and M&A from 2010 to 2018.
Perry , age 55, joined Mercury in 2008 and has served as our Executive Vice President, President, Processing division since August 2021.
9 unchanged sentences
Ruppert also held positions in the investment banking divisions at Lazard Freres & Co from 2008 to 2011 and at Lehman Brothers from 2000 to 2008.
−Removed: Thibaud , age 60, joined Mercury in 1995, and has served as our Executive Vice President, Chief Operating Officer since 2016.
−Removed: He served as the President of our Mercury Commercial Electronics business unit from 2012 to 2016 and the President of our Advanced Computing Solutions business unit from 2007 to 2012.
−Removed: Prior to that, he was Senior Vice President, Defense & Commercial Businesses from 2005 to 2007 and Vice President and General Manager, Imaging and Visualization Solutions Group, from 2000 to 2005 and served in various capacities in sales and marketing from 1995 to 2000.
+Added: Stevison , age 56, joined Mercury in October 2021 as Executive Vice President and Chief Growth Officer.
+Added: Stevison brings to Mercury more than 16 years of global experience in the aerospace and defense industry.
+Added: Prior to joining Mercury, he was Vice President of Strategy for Raytheon Missiles & Defense.
+Added: In that role, he led comprehensive business strategy, portfolio shaping and evaluating investment opportunities to further advance the Raytheon Missiles & Defense portfolio.
+Added: He also served as Vice President of Strategic and Naval Systems at Raytheon Missiles Systems.
+Added: Prior to that, he was the director of the SM-3® program, where he was responsible for all variants of the SM-3® missile portfolio, both domestically and internationally.
+Added: Stevison has previously held senior leadership roles at Lockheed Martin and at Miltec Systems, a Ducommun Company.
+Added: Army veteran, Dr.
+Added: Stevison retired from the Army in 2005, following an accomplished 20-year military career that included leadership roles with the Missile Defense Agency and the U.S.
+Added: Army Aviation and Missile Command.
+Added: Wells, IV , age 50, joined the Company in November 2021 as its Executive Vice President and President of Mercury’s Microelectronics Division.
+Added: Wells has more than 25 years’ experience across multiple disciplines including engineering, business development, program management and executive management.
+Added: Previously, he served as Vice President and General Manager for the Unmanned & Integrated Solutions Business Unit of Teledyne FLIR with full P&L responsibility while ensuring high levels of product quality and customer satisfaction.
+Added: Earlier in his career, he worked as a DoD civilian supporting the development and fielding of world-wide C4ISR networks and information systems.
+Added: He also held positions in Northrop Grumman and ICX Technologies and served as a private consultant for large aerospace and defense companies.
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.