8 unchanged sentences
In making this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control—Integrated Framework (2013).
−Removed: Our evaluation of internal control over financial reporting did not include the internal controls of Pilot Plastics, which was acquired during 2023, the results of which are included in the 2023 Consolidated Financial Statements for the year ended December 31, 2023 and constituted approximately 3.3% of total assets (inclusive of acquired intangible assets) as of December 31, 2023 and approximately 1.0% of net sales for the year then ended.
Based upon its assessment, management concluded that the Company’s internal control over financial reporting was effective as of December 31, 2024.
7 unchanged sentences
In our opinion, Preformed Line Products Company (the Company) maintained, in all material respects, effective internal control over financial reporting as of December 31, 2024, based on the COSO criteria.
−Removed: As indicated in the accompanying Management’s Report on Internal Control Over Financial Reporting, management’s assessment of and conclusion on the effectiveness of internal control over financial reporting did not include the internal controls of Pilot Plastics, which are included in the 2023 consolidated financial statements of the Company and constituted 3.3% of total assets as of December 31, 2023 and 1.0% of net sales for the year then ended.
−Removed: Our audit of internal control over financial reporting of the Company also did not include an evaluation of the internal control over financial reporting of Pilot Plastics.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheets of the Company as of December 31, 2024 and 2023, the related statements of consolidated income, comprehensive income, cash flows and shareholders’ equity for each of the three years in the period ended December 31, 2024, and the related notes and financial statement schedule listed in the Index at Item 15(a) and our report dated March 13, 2025 expressed an unqualified opinion thereon.
20 unchanged sentences
Disclosure Regarding Foreign Jurisdictions that Require Inspections
−Removed: Directors, Executive Offi cers and Corporate Governance
−Removed: The information required by this Item 10 is incorporated by reference to the information under the captions “Corporate Governance – Board Composition”, “Corporate Governance – Election of Directors”, “Section 16(a) Beneficial Ownership Compliance”, “Corporate Governance – Code of Conduct” and “Corporate Governance – Board Committees and Meetings – Audit Committee” in the Company’s Proxy Statement, for the Annual Meeting of Shareholders to be held May 7, 2024 (the “Proxy Statement”).
+Added: Directors, Executive Officers and Corporate Governance
+Added: The information required by this Item 10 is incorporated by reference to the information under the captions “Corporate Governance – Board Composition”, “Corporate Governance – Election of Directors”, “Section 16(a) Beneficial Ownership Compliance”, “Corporate Governance – Code of Conduct,” “Corporate Governance – Board Committees and Meetings – Audit Committee” and “Compensation Policies and Risk – Insider Trading Policies and Procedures” in the Company’s Proxy Statement, for the Annual Meeting of Shareholders to be held May 13, 2025 (the “Proxy Statement”).
Information relative to executive officers of the Company is contained in Part I of this Annual Report on Form 10-K.
−Removed: Execut ive Compensation
+Added: Executive Compensation
The information set forth under the caption “Directors and Executive Officers Compensation”, other than under the caption “Pay versus Performance”, “Compensation Policies and Risk”, and “Clawback Policy” in the Proxy Statement is incorporated herein by reference.
−Removed: Security Ownership of Certain Beneficial Ow ners and Management and Related Stockholder Matters
+Added: Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Other than the information required by Item 201(d) of Regulation S-K the information set forth under the caption “Security Ownership of Certain Beneficial Owners and Management” in the Proxy Statement is incorporated herein by reference.
5 unchanged sentences
options, warrants
−Removed: Weighted-average
+Added: and rights Weighted-average
exercise price of
options, warrants
−Removed: Number of securities
+Added: and rights Number of securities
remaining available
4 unchanged sentences
Plan Category (1) (1) (2)
−Removed: Equity compensation plans approved by security
+Added: Equity compensation plans approved by security holders 190,198 $ 79.33 366,635
(1) Of these shares, 163,773 were issued in the form of restricted stock units, which have no exercise price.
5 unchanged sentences
The information set forth under the captions “Transactions with Related Persons” and “Election of Directors” in the Proxy Statement is incorporated herein by reference.
−Removed: Principal Accou nting Fees and Services
+Added: Principal Accounting Fees and Services
The information set forth under the captions “Independent Registered Public Accounting Firm”, “Audit Fees”, “Audit-Related Fees”, “Tax Fees” and “All Other Fees” in the Proxy Statement is incorporated herein by reference.
−Removed: Exhibits and Fina ncial Statement Schedules
+Added: Exhibits and Financial Statement Schedules
(a) Report of Independent Registered Public Accounting Firm (PCAOB ID:
Financial Statements and Schedule
−Removed: Financial Statements
+Added: Page Financial Statements
Consolidated Balance Sheets
4 unchanged sentences
Notes to Consolidated Financial Statements
+Added: Page Schedule
II - Valuation and Qualifying Accounts
4 unchanged sentences
4.2 Description of the Registrant’s Securities Registered Under Section 12 of the Securities Exchange Act of 1934 (incorporated by reference to the Company’s 10-K filed for the year ended December 31, 2019)
−Removed: Preformed Line Products Company 1999 Employee Stock Option Plan (incorporated by reference to the Company’s Registration Statement on Form 10).*
−Removed: Preformed Line Products Company Officers Bonus Plan (incorporated by reference to the Company’s 10-K filed for the year ended December 31, 2007).*
+Added: 10.1 Preformed Line Products Company 1999 Employee Stock Option Plan (incorporated by reference to the Compa ny ' s Registration Statement on Form 10).
10.2 Preformed Line Products Company Executive Life Insurance Plan – Summary (incorporated by reference to the Company’s Registration Statement on Form 10).*
10.3 Preformed Line Products Company Supplemental Profit Sharing Plan (incorporated by reference to the Company’s Registration Statement on Form 10).*
−Removed: Amended and Restated Loan Agreement dated September 24, 2015 between the Company and PNC Bank, National Association (incorporated by reference to the Company’s 10-K filing for the year ended December 31, 2015).
−Removed: Preformed Line Products Company 1999 Employee Stock Option Plan Incentive Stock Option agreement (incorporated by reference to the Company’s 10-K filing for the year ended December 31, 2004).*
−Removed: Preformed Line Products Company Chief Executive Officer Bonus Plan (incorporated by reference to the Company’s 10-K filing for the year ended December 31, 2007) .*
+Added: 10.4 Preformed Line Products Company 2016 Incentive Plan (incorporated by reference to the Company's 10-K filing for the year ended December 31, 2020 ).
10.5 Preformed Line Products Company Amended and Restated Long Term Incentive Plan of 2008 (incorporated by reference to Appendix A of the Company’s Definitive Proxy Statement filed on March 11, 2011).*
10.6 Deferred Shares Plan (incorporated by reference to the Company’s 8-K current report filing dated August 21, 2008).
−Removed: Form of Restricted Shares Grant Agreement under the Amended and Restated Long Term Incentive Plan of 2008 (incorporated by reference to the Company’s 10-Q filing for the quarter ended September 30, 2008).*
−Removed: Form of Restricted Stock Unit Award Agreement under the Amended and Restated Long Term Incentive Plan of 2008 (incorporated by reference to the Company’s 10-K filing for the year ended December 31, 2013).*
−Removed: Form of Restricted Stock Unit Award Agreement under the Amended and Restated Long Term Incentive Plan of 2008 (incorporated by reference to the Company’s 10-K filing for the year ended December 31, 2014).*
−Removed: Form of Restricted Stock Agreement under the Amended and Restated Long Term Incentive Plan of 2008 (incorporated by reference to the Company’s 10-K filing for the year ended December 31, 2015).*
−Removed: Form of Restricted Stock Unit Award Agreement under the Amended and Restated Long Term Incentive Plan of 2008 (incorporated by reference to the Company’s 10-K filing for the year ended December 31, 2015).*
+Added: 10.7 Amended and Restated Loan Agreement dated September 24, 2015 between the Company and PNC Bank, National Association (incorporated by reference to the Company’s 10-K filing for the year ended December 31, 2015).
10.8 Amendment to Amended and Restated Loan Agreement dated November 6, 2015 between the Company and PNC Bank, National Association (incorporated by reference to the Company’s 10-K filing for the year ended December 31, 2015).
10.9 Preformed Line Products Company 2016 Incentive Plan (incorporated by reference to the Company's 10-K filing for the year ended December 31, 2020 ).
−Removed: Promissory Note dated June 27, 2016, between the Company and PNC Bank, National Association (incorporated by reference to the Company’s Form 10-Q filing for the quarter ended September 30, 2016).
+Added: 10.1 Promissory Note dated June 27, 2016, between the Company and PNC Bank, National Association (incorporated by reference to the Company’s Form 10-Q filing for the quarter ended June 30, 2016).
10.11 Amendment No.
16 unchanged sentences
14.1 Preformed Line Products Amended Company Code of Conduct (incorporated by reference to the Company’s 10-K filed for the year ended December 31, 2019)
+Added: 19 Preformed Line Products Compan y Insider Trading Policy as of February 13, 2 025 , filed herewit h .
21 Subsidiaries of Preformed Line Products Company, filed herewith.
8 unchanged sentences
Klaus, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, furnished.
−Removed: Preformed Line Products Company Clawback Policy adopted on August 2, 2024, filed herewith.
−Removed: Inline XBRL Instance Document.
−Removed: Inline XBRL Taxonomy Extension Schema Document.
−Removed: Inline XBRL Taxonomy Extension Calculation Linkbase Document.
−Removed: Inline XBRL Taxonomy Extension Definition Linkbase Document.
−Removed: Inline XBRL Taxonomy Extension Label Linkbase Document.
+Added: 97.1 Preformed Line Products Company Clawback Policy adopted on August 2, 202 3 (incorporated by reference to the Company's 10-K filed for the year ended December 31, 202 3 ) .
+Added: 101.INS Inline XBRL Instance Document.
+Added: 101.SCH Inline XBRL Taxonomy Extension Schema Document.
+Added: 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document.
+Added: 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document.
+Added: 101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document.
104 Cover Page Interactive Data File (embedded within the inline XBRL document)
2 unchanged sentences
Preformed Line Products Company
−Removed: March 8, 2024
−Removed: /s/ Robert G.
+Added: March 13, 2025 /s/ Robert G.
Executive Chairman
(principal executive officer)
−Removed: March 8, 2024
−Removed: /s/ Andrew S.
+Added: March 13, 2025 /s/ Andrew S.
Chief Financial Officer
1 unchanged sentence
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant in the capacity and on the dates indicated.
−Removed: March 8, 2024
−Removed: /s/ Robert G.
+Added: March 13, 2025 /s/ Robert G.
Executive Chairman
−Removed: March 8, 2024
−Removed: March 8, 2024
−Removed: /s/ Matthew D.
−Removed: March 8, 2024
−Removed: /s/ Michael E.
−Removed: March 8, 2024
−Removed: /s/ Steven Kestner
+Added: March 13, 2025 /s/ Glenn E.
+Added: March 13, 2025 /s/ Matthew D.
+Added: March 13, 2025 /s/ Michael E.
+Added: March 13, 2025 /s/ Steven Kestner
Steven Kestner
−Removed: March 8, 2024
−Removed: /s/ Richard R.
−Removed: March 8, 2024
−Removed: /s/ Ryan Ruhlman
−Removed: March 8, 2024
−Removed: /s/ Meagan A.
−Removed: March 8, 2024
+Added: March 13, 2025 /s/ Richard R.
+Added: March 13, 2025 /s/ Ryan Ruhlman
+Added: March 13, 2025 /s/ Meagan A.
+Added: March 13, 2025 /s/ David C.
PREFORMED LINE PRODUCTS COMPANY
4 unchanged sentences
Balance at beginning of
+Added: expenses Deductions Other
additions or deductions
6 unchanged sentences
Balance at beginning of
+Added: expenses Deductions
additions or deductions (a)
6 unchanged sentences
Balance at beginning of
+Added: expenses Deductions
additions or deductions (a)
5 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.