1 unchanged sentence
Our shares are listed on the New York Stock Exchange (“NYSE”) under the symbol “SRI.” As of February 19, 2021, we had 27,005,257 Common Shares, without par value, outstanding which were owned by approximately 160 shareholders of record.
−Removed: This does not include persons whose stock is in nominee or “street name” accounts held by brokers.
+Added: This does not include persons whose stock is in nominee or “street name” accounts held by banks, brokers and other nominees.
The following table presents information with respect to repurchases of Common Shares made by us during the three months ended December 31, 2020.
−Removed: There were 2,725 Common Shares delivered to us by employees as payment for withholding taxes due upon vesting of performance share awards and share unit awards during the three months ended December 31, 2019.
+Added: There were no Common Shares delivered to us by employees as payment for withholding taxes due upon vesting of performance share awards and share unit awards during the three months ended December 31, 2020.
Total number of
13 unchanged sentences
12/1/20-12/31/20
−Removed: On October 26, 2018 the Company announced a Board approved repurchase program authorizing Stoneridge to repurchase up to $50.0 million of our Common Shares.
−Removed: Thereafter, on May 7, 2019, we announced that the Company had entered into an accelerated share repurchase agreement with Citibank N.A.
−Removed: to repurchase an aggregate of $50.0 million of our Common Shares.
−Removed: Pursuant to the accelerated share repurchase agreement in the second quarter of 2019 we made an upfront payment of $50.0 million and received an initial delivery of 1,349,528 Common Shares which became treasury shares and were recorded as a $40.0 million reduction to shareholder’ equity.
−Removed: The remaining $10.0 million of the initial payment was recorded as a reduction to shareholders’ equity as an unsettled forward contract indexed to our Common Shares.
−Removed: The number of shares to be ultimately purchased by the Company will be determined based on the volume weighted-average price of our Common Shares during the terms of the transaction, minus an agreed upon discount between the parties.
−Removed: The program is expected to be completed by May 8, 2020.
−Removed: Other than the repurchase of Common Shares in May 2019 there were no other repurchases of Common Shares made by us during the years ended December 31, 2019 or 2018, other than the repurchase of Common Shares of 136,644 and 153,397, respectively, to satisfy employee tax withholdings associated with the delivery of Common Shares earned by employees pursuant to equity-base awards under the Company’s Long-Term Incentive Plan.
+Added: Other than the repurchase of Common Shares in March 2020 and May 2019 and the repurchase of Common Shares of 80,427 and 136,644, respectively, to satisfy employee tax withholdings associated with the delivery of Common Shares earned by employees pursuant to equity-base awards under the Company’s Long-Term Incentive Plan there were no other repurchases of Common Shares made by us during the years ended December 31, 2020 or 2019.
+Added: Refer to Note 2 of the consolidated financial statements for additional details regarding Common Share repurchases.
+Added: For information on “Related Stockholder Matters” required by Item 201(d) of Regulation S-K, refer to Item 12 of this report.
Performance Graph
3 unchanged sentences
NYSE Composite Index
−Removed: For information on “Related Stockholder Matters” required by Item 201(d) of Regulation S-K, refer to Item 12 of this report.
Selected Financial Data.
1 unchanged sentence
The selected historical data was derived from our consolidated financial statements.
−Removed: Year ended December 31
−Removed: (in thousands, except per share data)
+Added: Year ended December 31, (in thousands, except per share data)
Statement of Operations Data:
3 unchanged sentences
Total net sales
−Removed: Operating income (loss):
+Added: Operating (loss) income:
Control Devices
1 unchanged sentence
Stoneridge Brazil
−Removed: Unallocated Corporate (G)
−Removed: Total operating income
+Added: Unallocated Corporate (F)
+Added: Total operating (loss) income
Equity in earnings of investees
−Removed: Income before income taxes from continuing operations (B)
−Removed: Income from continuing operations (B) (C) (D) (E)
−Removed: Loss from discontinued operations (F)
−Removed: Net income (B) (C) (D) (E) (F)
+Added: (Loss) income before income taxes from continuing operations (B)
+Added: Net (loss) income (B) (C) (D) (E)
Net loss attributable to noncontrolling interest (E)
−Removed: Net income attributable to Stoneridge, Inc.
+Added: Net (loss) income attributable to Stoneridge, Inc.
(B) (C) (D) (E)
−Removed: Basic earnings per share from continuing operations
−Removed: attributable to Stoneridge, Inc.
−Removed: Diluted earnings per share from continuing operations
−Removed: attributable to Stoneridge, Inc.
−Removed: Basic loss per share attributable to
−Removed: discontinued operations
−Removed: Diluted loss per share attributable to
−Removed: discontinued operations
−Removed: Basic earnings per share attributable to Stoneridge, Inc.
−Removed: Diluted earnings per share attributable to Stoneridge, Inc.
+Added: Basic (loss) earnings per share attributable to Stoneridge, Inc.
+Added: Diluted (loss) earnings per share attributable to Stoneridge, Inc.
Other Continuing Operations Data:
1 unchanged sentence
Capital expenditures
−Removed: Depreciation and amortization (H)
+Added: Depreciation and amortization (G)
Balance Sheet Data (as of December 31):
9 unchanged sentences
(E) The Company recorded a full valuation allowance on Stoneridge Brazil’s net deferred tax assets of $1,237 for the year ended December 31, 2016 of which $322 was attributable to noncontrolling interest.
−Removed: (F) The Company sold its Wiring business during the year ended December 31, 2014.
−Removed: As such, for all periods presented the Company reported this business as discontinued operations in the Company’s consolidated financial statements.
−Removed: (G) Unallocated corporate expenses include, among other items, accounting/finance, human resources, information technology and legal costs as well as share-based compensation.
−Removed: (H) These amounts represent depreciation and amortization on fixed and certain finite-lived intangible assets.
+Added: (F) Unallocated corporate expenses include, among other items, accounting/finance, human resources, information technology and legal costs as well as share-based compensation.
+Added: (G) These amounts represent depreciation and amortization on fixed and certain finite-lived intangible assets.
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.