What changed in this filing

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Item 3. Legal Proceedings

2023-01-24 compared with 2022-01-28 · 30 added, 32 removed, 65 unchanged (49% of the section changed)

7 unchanged sentences

In March 2020, the Competition Authority imposed fines on Tech Data, on another distributor, and on Apple, finding that Tech Data entered into an anticompetitive agreement with Apple regarding volume allocations of Apple products.

The fine imposed on Tech Data was €76 million (approximately $86 million as of November 30, 2021).

We have vigorously contested the arguments of the Competition Authority, and we have appealed its determination to the French courts, seeking to set aside or reduce the fine.

Although we believe we have strong arguments on appeal, we have determined that the best estimate of probable loss related to this matter as of November 30, 2021 is €36 million (approximately $41 million as of November 30, 2021).

The initial fine imposed on Tech Data was €76.1 million.

We appealed its determination to the French courts, seeking to set aside or reduce the fine.

Although we believed we had strong arguments on appeal, we determined that the best estimate of probable loss related to this matter as of November 30, 2021 was €36.0 million.

Under French law, the pendency of our appeal does not suspend the obligation to pay the fine.

Tech Data has agreed with French authorities to make eight equal installment payments in relation to the fine assessed for a total amount of €22.8 million on a quarterly basis from January 2021 through October 2022.

As of November 30, 2021, we have an accrual established for this matter of €24.6 million ($27.7 million as of November 30, 2021) that represents the total estimate of probable loss less installment payments made to date.

If the appeal process is not completed prior to the end of December 2022, we may be required to pay further amounts towards the full fine assessed by the Competition Authority before our appeal is finally determined.

However, any additional amounts that may need to be paid have not yet been determined.

Additionally, we have provided a third-party surety bond to the Competition Authority to guarantee the payment of the amount of the fine and interest, if applicable.

Tech Data agreed with French authorities to make eight equal installment payments in relation to the fine assessed for a total amount of €22.8 million on a quarterly basis from January 2021 through October 2022.

Additionally, we provided a third-party surety bond to the Competition Authority to guarantee the payment of the amount of the fine and interest, if applicable.

On October 6, 2022, the appeals court issued a ruling that reduced the fine imposed on us from €76.1 million to €24.9 million.

We continue to contest the arguments of the Competition Authority and have further appealed this matter.

As a result of the appeals court ruling, we have determined that the best estimate of probable loss related to this matter as of November 30, 2022 is €24.9 million (approximately $25.7 million as of November 30, 2022), which was paid in full.

We decreased our accrual established for this matter by $10.8 million during fiscal year 2022 which was recorded in "Other (expense) income, net" in the Consolidated Statement of Operations.

A civil lawsuit related to this matter, alleging anticompetitive actions in association with the established distribution networks for Apple, Tech Data and another distributor was filed by eBizcuss.

We are currently evaluating this matter and cannot currently estimate the probability or amount of any potential loss.

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Mine Safety Disclosures

2 unchanged sentences

The following table sets forth information regarding our executive officers as of November 30, 2022:

Chief Executive Officer

Head of Global Businesses & Integration Lead

Michael Urban

President, Americas

Marshall Witt

Chief Financial Officer

Patrick Zammit

President, Europe & APJ

Chief Legal Officer

Chief Business Officer

Name Age Position

Richard Hume 63 Chief Executive Officer

Dennis Polk 56 Executive Chair

Michael Urban 58 President, Americas

Marshall Witt 57 Chief Financial Officer

Patrick Zammit 56 President, Europe & APJ

David Vetter 63 Chief Legal Officer

Simon Leung 57 Chief Business Officer

Richard Hume is our Chief Executive Officer .

3 unchanged sentences

Prior to joining Tech Data, Mr.

Hume was employed for more than thirty years at IBM.

Hume was employed for more than thirty years at International Business Machines Corporation ("IBM"), (NYSE:

IBM), a multinational computer hardware, middleware and software company.

Most recently, from January 2015 to February 2016, Mr.

5 unchanged sentences

Hume holds a Bachelor of Science degree in Accounting from Pennsylvania State University.

Dennis Polk is our Executive Chair of the Board of Directors, Integration Lead, and Head of Global Businesses .

Dennis Polk is our Executive Chair of the Board of Directors.

Polk joined TD SYNNEX in 2002 and served as President and Chief Executive Officer of TD SYNNEX from March 2018 to August 2021.

2 unchanged sentences

Polk was appointed as Executive Chair of the Board of Directors.

Michael Urban is our President of the Americas.

Michael Urban is our President, Americas.

Urban joined TD SYNNEX in February 2019 and served as President, Worldwide Technology Solutions Distribution until the Merger.

Prior to joining TD SYNNEX, Mr.

Urban was Corporate Vice President of Strategy, Transformation, and Global Vendor Management of Tech Data from September 2012 until January 2019.

Urban was employed by Tech Data from September 2012 until January 2019, most recently serving as Corporate Vice President of Strategy, Transformation, and Global Vendor Management.

Prior to Tech Data, Mr.

Urban served in progressive leadership roles including Chairman and Chief Executive Officer at Actebis.

Urban served in progressive leadership roles including Chairman and Chief Executive Officer at Actebis Holding GmbH, an IT services company.

Urban received a Bachelor of Science degree in Engineering from Paderborn University in Germany.

1 unchanged sentence

Prior to joining TD SYNNEX, Mr.

Witt was Senior Vice President of Finance and Controller with FedEx Freight.

During his fifteen year tenure with FedEx Corporation, Mr.

Witt was Senior Vice President of Finance and Controller with FedEx Freight, Inc., a freight services company.

During his fifteen year tenure with FedEx Corporation, a multinational transportation, e-commerce and business services company, Mr.

Witt held progressive financial and operational roles.

Prior to FedEx Corporation, he held accounting and finance leadership positions including five years with KPMG LLP as an audit manager for banking and transportation clients.

Prior to FedEx Corporation, he held accounting and finance leadership positions including five years with KPMG LLP, a professional services firm, as an audit manager for banking and transportation clients.

Witt holds a Bachelor of Business Administration in Finance from Pacific Lutheran University and a Masters in Accounting from Seattle University and is a Certified Public Accountant.

2 unchanged sentences

Prior to this role, Mr.

Zammit was employed for more than twenty years at Avnet, Inc.

Zammit was employed for more than twenty years at Avnet, Inc, an electronic components distribution company.

From January 2015 to January 2017, Mr.

9 unchanged sentences

Vetter joined Tech Data in June 1993 as Vice President, General Counsel and was promoted to Corporate Vice President, General Counsel in April 2000.

In March 2003, he was promoted to Senior Vice President, and effective July 2003, was appointed Secretary.

In March 2003, he was promoted

to Senior Vice President, and effective July 2003, was appointed Secretary.

In January 2017, Mr.

4 unchanged sentences

Vetter is a member of the Florida Bar Association and holds Bachelor of Arts degrees in English and Economics from Bucknell University and a Juris Doctorate Degree from the University of Florida.

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Simon Leung is our Chief Business Officer.

Prior to this role, Mr.

Leung serviced as Senior Vice President, General Counsel and Corpor ate Secretary for TD SYNNEX from May 2001 until the Merger in September 2021 .

Leung served as Senior Vice President, General Counsel and Corporate Secretary for TD SYNNEX from May 2001 until the Merger in September 2021.

Leung joined TD SYNNEX in November 2000 as Corporate Counsel.

2 unchanged sentences

Leung received a Bachelor of Arts degree from the University of California, Davis in International Relations and his Juris Doctor degree from the University of Minnesota Law School.

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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.

What changed 10-K

Item 3. Legal Proceedings