10 unchanged sentences
The Audit Committee , composed entirely of independent directors under SEC and NYSE rules, oversees our cyber risk exposure and evaluates our risk mitigation strategies.
−Removed: The committee is regularly briefed by our VP, IT Services in depth, and in turn briefs the Board of Directors on any material cyber risks and events.
+Added: The committee was briefed by our VP, IT Services in depth, and in turn briefs the Board of Directors on any material cyber risks and events.
Additionally, we use processes to oversee and identify material risks from cybersecurity threats associated with our use of third-party technology and systems, including third party penetration tests, external security audits of our data loss prevention mechanisms and require that our vendors comply with Service Organization Control Type II requirements.
−Removed: Michael Kraus, Vice President of Compliance and Information Technology, leads our information security program with his expertise, honed by over 30 years of experience in the high-tech industry designing and deploying high-performance communication networks.
−Removed: Kraus has global network building experience which we believe helps to bolster our security posture.
+Added: Previously, our information security program was led by our Vice President of Compliance and Information Technology, who has since left the Company.
+Added: As of February 25, 2025, the responsibilities of this role are being performed on an interim basis by our IT Manager , whose experience includes two years supporting the cybersecurity function under the Vice President of Compliance and Information Technology.
+Added: We are currently seeking a replacement to oversee our information security program.
While cybersecurity threats remain a reality for all organizations, SES is committed to proactive risk management and continuous improvement in our security posture.
2 unchanged sentences
By in-sourcing IT services in late 2023, we gained greater control over IT decisions, established a comprehensive knowledge base, and laid a framework allowing for unbiased assessments of future IT and cybersecurity investments.
+Added: We have continued improvements using in-sourced IT services throughout 2024.
● 24/7 Network Monitoring:
Our continuous 24/7 second-level maintenance and monitoring contract provides constant vigilance against network disruptions and potential cyber threats, ensuring swift detection and mitigation of incidents.
−Removed: ● Cutting-edge Data Backup:
−Removed: Deployment of our new data backup system is underway, offering robust protection against catastrophic failures, early detection of data loss prevention events, and near real-time mitigation of ransomware attacks.
−Removed: Full implementation is anticipated by the end of the first quarter of 2024.
+Added: ● Data Backup:
+Added: Deployment of our new data backup system was completed in June 2024 and offers robust protection against catastrophic failures, early detection of data loss prevention events, and near real-time mitigation of ransomware attacks.
● In addition, at times we also engage assessors, consultants, auditors, or other third parties to assist with assessing, identifying, and managing cybersecurity risks.
We face risks from cybersecurity threats that could have a material adverse effect on our relationship with our partners, suppliers and eventual customers, or on our business, operations or products.
−Removed: We have experienced, and will likely continue to experience, cybersecurity incidents in the normal course of our business, however, we are not aware that we have experienced a material cybersecurity incident during fiscal 2023.
−Removed: See “Risk Factors – Risks Related to Privacy and Security – If we experience a significant cybersecurity breach or disruption in our information systems or any of our partners’ information systems, our business could be adversely affected.”
+Added: We have experienced, and will likely continue to experience, cybersecurity incidents in the normal course of our business;
+Added: however, to our knowledge, we have not experienced a material cybersecurity incident during fiscal 2024 .
+Added: See “Part I, Item 1A.
+Added: Risk Factors – Risks Related to Privacy and Security – If we experience a significant cybersecurity breach or disruption in our information systems or any of our partners’ information systems, our business could be adversely affected.”
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.