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Comparison of Five-Year Cumulative Total Return
−Removed: The following paragraph compares the most recent five-year performance of MSA stock with (1) the Standard & Poor’s 500 Composite Index and (2) the Russell 2000 Index.
+Added: The following paragraph compares the most recent five-year performance of MSA stock with (1) the Standard & Poor’s 500 Composite Index (previously used by MSA), (2) the Russell 2000 index (previously used by MSA), (3) S&P Midcap 400 Index (currently being used by MSA) and (4) S&P Midcap 400 Industrials (currently being used by MSA).
Because our competitors are principally privately held concerns or subsidiaries or divisions of corporations engaged in multiple lines of business, we do not believe it feasible to construct a peer group comparison on an industry or line-of-business basis.
−Removed: The Russell 2000 Index, while including corporations both larger and smaller than MSA in terms of market capitalization, is composed of corporations with an average market capitalization similar to us.
+Added: The S&P Midcap 400 Index and the S&P Midcap 400 Industrials, while including corporations both larger and smaller than MSA in terms of market capitalization, is composed of corporations with an average market capitalization similar to us.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN
ASSUMES INITIAL INVESTMENT OF $100
−Removed: Among MSA Safety Incorporated, the S&P 500 Index, and the Russell 2000 Index
+Added: Among MSA Safety Incorporated, the S&P 500 Index, the Russell 2000 Index, S&P Midcap 400, and S&P Midcap 400 Industrials
Assumes $100 invested on December 31, 2015 in stock or index, including reinvestment of dividends.
Fiscal year ending December 31.
+Added: During 2021 the Company selected the S&P 400 Midcap 400 Index and S&P Midcap 400 Industrials as the indexes that includes companies that are of comparable market capitalization to MSA Safety to replace the S&P 500 Index and Russell 2000 index going forward.
Value at December 31,
3 unchanged sentences
Russell 2000 Index 100.00 114.65 102.02 128.06 153.62 176.39
+Added: S&P Midcap 400 100.00 115.79 102.39 129.22 146.70 183.02
+Added: S&P Midcap 400 Industrials 100.00 123.54 105.15 140.43 163.58 210.11
Prepared by Zacks Investment Research, Inc.
11 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.