What changed in this filing

/stocks — the workspaceLOADING

Item 9A. Controls and Procedures

2026-02-24 compared with 2025-02-25 · 93 added, 75 removed, 505 unchanged (25% of the section changed)

15 unchanged sentences

Based upon that evaluation, the Principal Executive Officer and Principal Financial Officer concluded that these Disclosure Controls are effective at a reasonable assurance level.

As disclosed in Note 3 – Acquisitions and Divestitures, Williams acquired Hartree as part of the Gulf Coast Storage Acquisition on January 3, 2024.

Hartree’s total revenues constituted approximately 2 percent of total revenues as shown in Williams’ consolidated financial statements for the year ended December 31, 2024.

Hartree’s total assets constituted approximately 4 percent of total assets as shown in Williams’ consolidated financial statements as of December 31, 2024.

Williams also acquired Crowheart on November 1, 2024, and its total revenues constituted less than 1 percent of total revenues as shown in Williams’ consolidated financial statements for the year ended December 31, 2024.

Crowheart’s total assets constituted approximately 1 percent of total assets as shown in Williams’ consolidated financial statements as of December 31, 2024.

Williams has excluded Hartree’s and Crowheart’s disclosure controls and procedures that are subsumed by their internal control over financial reporting from the scope of management’s assessment of the effectiveness of Williams’ disclosure controls and procedures.

Williams purchased Rimrock as part of the Rimrock Asset Purchase on January 31, 2025.

Rimrock’s total revenues constituted approximately 2 percent of total revenues as shown in Williams’ consolidated financial statements for the year ended December 31, 2025.

Rimrock’s total assets constituted approximately 1 percent of total assets as shown in Williams’ consolidated financial statements at December 31, 2025.

Williams has excluded Rimrock’s disclosure controls and procedures that are subsumed by their internal control over financial reporting from the scope of management’s assessment of the effectiveness of Williams’ disclosure controls and procedures.

This exclusion is in accordance with the guidance issued by the Staff of the Securities and Exchange Commission that an assessment of recent business combinations may be omitted from management’s assessment of internal control over financial reporting for one year following the acquisition.

3 unchanged sentences

Management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rules 13a - 15(f) and 15d - 15(f) under the Exchange Act).

Williams’ internal control over financial reporting is designed to provide reasonable assurance to management and the board of directors regarding the preparation and fair presentation of financial statements in accordance with accounting principles generally accepted in the United States.

Williams’ internal control over financial reporting is designed to provide reasonable assurance to management and the board of directors regarding the

preparation and fair presentation of financial statements in accordance with accounting principles generally accepted in the United States.

Williams’ internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of assets;

4 unchanged sentences

Under the supervision and with the participation of Williams’ management, including the Principal Executive Officer and Principal Financial Officer, Williams assessed the effectiveness of the internal control over financial reporting at December 31, 2025, based on the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control — Integrated Framework (2013).

Based on the assessment, which excluded Hartree and Crowheart’s internal control over financial reporting as previously discussed, it was concluded that, at December 31, 2024, Williams’ internal control over financial reporting was effective.

Based on the assessment, which excluded Rimrock’s internal control over financial reporting as previously discussed, it was concluded that, at December 31, 2025, Williams’ internal control over financial reporting was effective.

Ernst & Young LLP, Williams’ independent registered public accounting firm, has audited the internal control over financial reporting, as stated in their report which is included in this Annual Report on Form 10-K.

Report of Independent Registered Public Accounting Firm

To the Stockholders and the Board of Directors of

To the Shareholders and the Board of Directors of

The Williams Companies, Inc.

3 unchanged sentences

(the Company) maintained, in all material respects, effective internal control over financial reporting as of December 31, 2025, based on the COSO criteria.

As indicated in the accompanying Management’s Annual 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 Hartree Cardinal Gas, LLC, Hartree Natural Gas Storage, LLC and Crowheart Energy, LLC, which are included in the 2024 consolidated financial statements of the Company and collectively constituted approximately five percent of total assets as of December 31, 2024.

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 Hartree Cardinal Gas, LLC, Hartree Natural Gas Storage, LLC and Crowheart Energy, LLC.

As indicated in the accompanying Management’s Annual 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 a group of natural gas gathering and processing assets purchased from Rimrock Energy Partners, LLC (Rimrock), which is included in the 2025 consolidated financial statements of the Company and constituted approximately one percent of total assets as of December 31, 2025.

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 Rimrock.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheet of the Company as of December 31, 2025 and 2024, the related consolidated statements of income, comprehensive income (loss), changes in equity and cash flows for each of the three years in the period ended December 31, 2025, and the related notes and the financial statement schedule listed in the index at Item 15(a) and our report dated February 24, 2026 expressed an unqualified opinion thereon.

74 unchanged sentences

Other Information

During the three months ended December 31, 2024, no director or officer of Williams adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

Departure of Director

On February 20, 2026, Stacey Doré notified Williams that she has elected not to stand for re-election and will depart Williams’ Board of Directors when her term expires on April 28, 2026.

Doré is a member of the Audit Committee and Governance and Sustainability Committee.

Following Ms.

Doré’s departure, the size of Williams’ Board of Directors will be reduced to eleven directors.

Rule 10b5-1 Trading Arrangements

During the three months ended December 31, 2025, no director or officer of Williams adopted or terminated a “Rule 10b5-1 trading arrangement,” and no director or officer of Williams adopted or terminated a “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

6 unchanged sentences

Information regarding Williams’ insider trading policy required by Item 408 of Regulation S-K will be included under the headings “Executing on Effective Corporate Governance” and “Mitigating Risk in Williams’ Compensation Programs” in the Proxy Statement, which information is incorporated by reference herein.

Williams has adopted The Williams Policy on Securities Trading (“Securities Trading Policy”) that is applicable to Williams’ directors, officers, employees, and “any other person providing services to Williams who is aware of Material Nonpublic Information relating to Williams or other public companies,” as well as “family members of persons covered by this policy, others living in their households, and entities that are directed by or subject to their influence

or control.” A copy of the Securities Trading Policy is filed as Exhibit 19.1 to this annual report on Form 10‑K.

Williams complies with applicable laws, rules, regulations and listing standards when it transacts in its own securities.

37 unchanged sentences

Consolidated statement of cash flows for each year in the three-year period ended December 31, 2025

Combined notes to financial statements

Combined N otes to F inancial S tatements

Schedule for each year in the three-year period ended December 31, 2025:

7 unchanged sentences

3.2 — Certificate of Designations of Series B Preferred Stock of the Williams Companies, Inc.

(filed on July17, 2018, as Exhibit 3.1 to The Williams Companies, Inc.

’ s current report on Form 8-K (File No.

(filed on July17, 2018, as Exhibit 3.1 to The Williams Companies, Inc.’s current report on Form 8-K (File No.

001-04174) and Incorporated herein by reference).

70 unchanged sentences

001-04174) and incorporated herein by reference).

— T welfth Supplemental Indenture, dated as of J une 30, 2025, between The Williams Companies, Inc.

and The B ank of New York Mellon Trust Company, N.A., as trustee (filed on J un e 30, 2025, as Exhibit 4.1 to The Williams Companies, Inc.

’ s current report on Form 8-K (File No.

001-04174) and incorporated herein by reference).

Thirteenth Supplemental Indenture, dated as of January 8, 2026 , between The Williams Companies, Inc.

and The Bank of New York Mellon Trust Company, N.A., as trustee (filed on January 8, 2026, as E xhibit 4.1 to The Williams Companies, Inc.

’ s current report on From 8-K (File No.

001-04174) and incorporated herein by reference.

— Indenture, dated as of February 9, 2010, between Williams Partners L.P.

16 unchanged sentences

001-32599) and incorporated herein by reference).

— S ixth Supplemental Indenture, dated as of June 27, 2014, between Williams Partners L.P.

and The Bank of New York Mellon Trust Company, N.A., as trustee (filed on June 27, 2014, as Exhibit_4.1 to Williams Partners L.P.

’ s current report on Form 8-K (File No.

— Sixth Supplemental Indenture, dated as of June 27, 2014, between Williams Partners L.P.

and The Bank of New York Mellon Trust Company, N.A., as trustee (filed on June 27, 2014, as Exhibit_4.1 to Williams Partners L.P.’s current report on Form 8-K (File No.

001-32599) and incorporated herein by reference).

— S eventh Supplemental Indenture, dated as of February 2, 20 15, between Williams Partners L.P.

— Seventh Supplemental Indenture, dated as of February 2, 2015, between Williams Partners L.P.

and The Bank of New York Mellon Trust Company, N.A.

(filed on February 3, 2015, as Exhibit_4.4 to Williams Partners L.P.

’ s current report on Form 8-K (File No.

(filed on February 3, 2015, as Exhibit_4.4 to Williams Partners L.P.’s current report on Form 8-K (File No.

001-34831) and incorporated herein by reference).

12 unchanged sentences

001-04174) and incorporated herein by reference).

— Senior Indenture, dated as of November 30, 1995, between Northwest Pipeline Corporation and Chemical Bank, Trustee (filed September 14, 1995, as Exhibit 4.1 to Northwest Pipeline’s registration statement on Form S-3 (File No.

033-62639) and incorporated herein by reference).

— Indenture, dated as of April 3, 2017, between Northwest Pipeline LLC and The Bank of New York Mellon Trust Company, N.A., as trustee (filed on April 3, 2017, as Exhibit 4.1 to Northwest Pipeline’s current report on Form 8-K (File No.

6 unchanged sentences

001-07584) and incorporated herein by reference).

— Indenture, dated as of January 22, 2016, between Transcontinental Gas Pipe Line Company, LLC and The Bank of New York Mellon Trust Company, N.A., as trustee (filed on January 22, 2016, as Exhibit 4.1 to The Williams Companies, Inc.’s current report on Form 8-K (File No.

001-04174) and incorporated herein by reference).

— Indenture, dated as of March 15, 2018, between Transcontinental Gas Pipe Line Company, LLC and The Bank of New York Mellon Trust Company, N.A., as trustee (filed on March 15, 2018, as Exhibit 4.1 to The Williams Companies, Inc.’s current report on Form 8-K (File No.

2 unchanged sentences

001-04174) and incorporated herein by reference).

— I ndenture, dated as of November 20, 2025, between Transcontinental G as Pipe Line Company, LLC and The Bank of New York Mellon Trust Company, N.A., as trustee (filed on November 20, 2025 , as Exhibit 4.1 to The Williams Companies, Inc.

’ s current report on Form 8-K (File No.

001-04174) and incorporated herein by reference).

— Indenture, dated August 17, 1998, between Questar Pipeline Company and Wells Fargo Bank, N.A., as successor trustee (filed on August 17, 1998, as Exhibit 4.01 to the Questar Pipeline Company’s Registration Statement on Form S-3 (File No.

2 unchanged sentences

001-14147) and incorporated herein by reference) .

— Dominion Energy Questar Pipeline Note Purchase Agreement (filed on February 21, 2024, as Exhibit 4.39 to The W illiams Companies, Inc .

’ s annual report on Form 10-K (File No.

— Dominion Energy Questar Pipeline Note Purchase Agreement (filed on February 21, 2024, as Exhibit 4.39 to The Williams Companies, Inc.’s annual report on Form 10-K (File No.

001-04174) and incorporated herein by reference).

— Description of Securities .

— The Williams Companies Amended and Restated Retirement Restoration Plan amended effective as of January 1, 2024 , (filed on February 21, 2024, as Exhi bit 10.1 to The Williams Companies, Inc.

’ s annual report on Form 10-K (File No.

— The Williams Companies Amended and Restated Retirement Restoration Plan amended effective as of January 1, 2024, (filed on February 21, 2024, as Exhibit 10.1 to The Williams Companies, Inc.’s annual report on Form 10-K (File No.

001-04174) and incorporated herein by reference).

1 unchanged sentence

001-04174) and incorporated herein by reference).

— Form of 2013 Restricted Stock Unit Agreement among Williams and certain nonmanagement directors (filed on February 26, 2014, as Exhibit 10.11 to The Williams Companies, Inc.

’ s annual report on Form 10-K (File No.

001-04174) and incorporated herein by reference).

— Form of 2014 Nonqualified Stock Option Agreement among Williams and certain employees and officers (filed on February 26, 2014, as Exhibit 10.8 to The Williams Companies, Inc.

’ s annual report on Form 10-K (File No.

001-04174) and incorporated herein by reference).

— Form of 2014 Restricted Stock Unit Agreement among Williams and certain nonmanagement directors (filed on February 25, 2015, as Exhibit 10.12 to The Williams Companies, Inc.

’ s annual report on Form 10-K (File No.

— Form of 2013 Restricted Stock Unit Agreement among Williams and certain nonmanagement directors (filed on February 26, 2014, as Exhibit 10.11 to The Williams Companies, Inc.’s annual report on Form 10-K (File No.

001-04174) and incorporated herein by reference).

— Form of 2015 Time-Based Restricted Stock Unit Agreement among Williams and certain employees and officers (filed on February 25, 2015, as Exhibit 10.16 to The Williams Companies, Inc.

’ s annual report on Form 10-K (File No.

— Form of 2014 Restricted Stock Unit Agreement among Williams and certain nonmanagement directors (filed on February 25, 2015, as Exhibit 10.12 to The Williams Companies, Inc.’s annual report on Form 10-K (File No.

001-04174) and incorporated herein by reference).

— Form of 2015 Nonqualified Stock Option Agreement among Williams and certain employees and officers (filed on February 25, 2015, as Exhibit 10.17 to The Williams Companies, Inc .

’ s annual report on Form 10-K (File No.

— Form of 2015 Nonqualified Stock Option Agreement among Williams and certain employees and officers (filed on February 25, 2015, as Exhibit 10.17 to The Williams Companies, Inc.’s annual report on Form 10-K (File No.

001-04174) and incorporated herein by reference).

16 unchanged sentences

001-04174) and incorporated herein by reference).

— Form of Amended 2021 Time-Based Restricted Stock Unit Agreement between The Williams Companies, Inc.

and certain employees and officers (filed on November 1, 2021, as Exhibit 10.7 to The Williams Companies, Inc.’s quarterly report on Form 10-Q (File No.

001-04174) and incorporated herein by reference).

— Form of 2021 Performance-Based Restricted Stock Unit Agreement between The Williams Companies, Inc.

and certain employees and officers (filed on May 3, 2021, as Exhibit 10.1 to The Williams Companies, Inc.’s quarterly report on Form 10-Q (File No.

001-04174) and incorporated herein by reference).

— Form of Amended 2021 Performance-Based Restricted Stock Unit Agreement between The Williams Companies, Inc.

and certain employees and officers (filed on November 1, 2021, as Exhibit 10.8 to The Williams Companies, Inc.’s quarterly report on Form 10-Q (File No.

001-04174) and incorporated herein by reference).

— Form of Time-Based Restricted Stock Unit Agreement among The Williams Companies, Inc.

and certain employees and officers (filed on February 24, 2021, as Exhibit 10.28 to The Williams Companies, Inc.’s annual report on Form 10-K (File No.

001-04174) and incorporated herein by reference).

— Form of Time-Based Restricted Stock Unit Agreement among The Williams Companies, Inc.

and certain employees and officers (filed on February 28, 2022, as Exhibit 10.31 to The Williams Companies, Inc.’s annual rep ort on Form 10-K (File No.001-04174) and incorporated herein by reference).

and certain employees and officers (filed on February 28, 2022, as Exhibit 10.31 to The Williams Companies, Inc.’s annual report on Form 10-K (File No.001-04174) and incorporated herein by reference).

— Form of Time-Based Restricted Stock Unit Agreement among The Williams Companies, Inc.

9 unchanged sentences

001-04174) and incorporated herein by reference.

Form of 202 4 Performance-Based Restricted Stock Unit Award between The Williams Companies, Inc.

and certain employees and officers (filed on May 6, 2024 , as Exhibit 10.1 to The Williams Companies, I nc.

’ s quarterly report on Form 10-Q (File No.

001-04174) and incorporated herein by reference.

F orm A of Performanc e-Based Restricted Stock Unit Agreement between The Williams Companies, Inc.

and certain employees and officers for awards granted as of Feb ruary 2025 or later (filed on May 5, 2025 , as Exhibit 10.1 to The Williams Companies, Inc.

’ s quarterly report on Form 10-Q (File No.

001-04174) and incorporate d herein by reference .

F orm B of Perfor m a nce-Based Restricted Stock Unit Agreement between The Williams Companies, Inc.

and certain employees and officers for awards granted as of February 2025 or later (filed on May 5, 202 5, as E xhibit 10.2 to The Williams Companies, Inc.

’ s quarterly report on Form 10-Q (File No.

001-04174) and incorporated herein by reference.

For m of Restricted Stock Unit Aw a rd Agreement between The Williams Companies, Inc.

an d certain employees and officer for awards granted as of February 2025 or later (filed on May 5, 2025, as Exhi bit 10.3 to The Williams Companies, Inc.

’ s quarterly report on Form 10-Q (File No.

001-04174) and incorporated herein by reference.

F orm of Two-Year Ratable Restricted Stock Unit Agreement between The Williams Co mpanies, Inc.

and certain employees and officers for awards granted as of February 2025 or later (filed on May 5, 202 5 , as Exh ibit 10.4 to The Williams Companies, Inc.

’ s quarterly report on F or m 10-Q (File No.

001-04174) and incorporated herein by reference.

F orm of Three - Year Ratable Restricted Stock Unit Agreement between The Williams Companies, Inc.

and certain employees and officers for award granted as of February 2025 or later (filed on May 5, 2025 , as Exhibit 10.5 to The Williams Companies, Inc.

’ s quarterly report on Form 10-Q (File No.

001-04174) and incorporated herein by reference.

— Retention Agreement dated July 14, 2025, between Will iams WPC-I, LLC, and Robert Wingo (filed on November 3, 2025, as Exhibit 10.1 to The Williams Companies, Inc.

’ s quarterly report on Form 10-Q (File No.

001 -004174) and incorporated her ein by reference.

— Change in Control and Restrictive Covenant Agreement between certain executive officers (Tier One Executives) and The Williams Companies, Inc.

14 unchanged sentences

001-04174) and incorporated herein by reference).

— Credit Agreement dated as of December 1, 2025, among Northwest Pipeline LLC, as borrower, the lenders named therein, and PNC Bank, National Association, as Administrative Agent (filed on December 1, 2025 , as Exhibit 10.1 to The Williams Companies, Inc.’s current report on Form 8-K (File No.

001-07414) and incorporated herein by reference).

— Williams Policy on Securities Trading.

6 unchanged sentences

— The Williams Companies, Inc.

Financial Statement Compensation Recoupment Polic y (filed on Fe bruary 21, 2024, as Exhibit 97.1 to The Williams Compan ies, Inc .

’ s current report on Form 10-K (File No.

Financial Statement Compensation Recoupment Policy (filed on February 21, 2024, as Exhibit 97.1 to The Williams Companies, Inc.’s current report on Form 10-K (File No.

001-04174) and incorporated herein by reference).

17 unchanged sentences

Statement of cash flows for each year in the three-year period ended December 31, 2025

Combined N otes to F inancial S tatements

Combined Notes to Financial Statements

All other schedules have been omitted since the required information is not present or is not present in amounts sufficient to require submission of the schedule, or because the information required is included in the financial statements and notes thereto.

14 unchanged sentences

001-07584) and incorporated herein by reference).

— Indenture, dated as of January 22, 2016, between Transcontinental Gas Pipe Line Company, LLC and The Bank of New York Mellon Trust Company, N.A., as trustee (filed on January 22, 2016 as Exhibit 4.1 to our current report on Form 8-K (File No.

001-07584) and incorporated herein by reference).

— Indenture, dated as of March 15, 2018, between Transcontinental Gas Pipe Line Company, LLC and The Bank of New York Mellon Trust Company, N.A., as trustee (filed on March 15, 2018 , as Exhibit 4.1 to our current report on Form 8-K (File No.

2 unchanged sentences

001-07584) and incorporated herein by reference).

— I ndenture, dated as of November 20, 2025, between Transcontinental Gas Pipe Line Company, LLC and The Bank of New York Mellon Trust Company, N.A., as trustee (filed on November 20, 2025 , as Exhibit 4.1 to our current report on Form 8-K (File No.

001-07584) and incorpo rated herein by reference).

— Administrative Services Agreement, dated as of February 17, 2010, by and between Transco Pipeline Services LLC and Transcontinental Gas Pipe Line Company, LLC (filed on February 22, 2010 , as Exhibit 10.3 to Williams Partners L.P.’s, Form 8-K (File No.

4 unchanged sentences

001-04174) and incorporated herein by reference).

23.2* — Consent of Independent Registered Public Accounting Firm, Ernst & Young LLP.

— Certification of the Principal Executive Officer pursuant to Rules 13a-l4(a) and 15d-14(a) promulgated under the Securities Exchange Act of 1934, as amended, and Item 601(b)(3l) of Regulation S-K, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

16 unchanged sentences

Statement of net income for each year in the three-year period ended December 31, 2025

B alance sheet at December 31, 202 4 and 20 23

S tatement of changes in member ’ s equity for each year in the three-year period ended December 31, 202 4

S tatement of cash flows for each year in the three-year period ended December 31, 202 4

Combined N otes to F inancial S tatements

Balance sheet at December 31, 2025 and 2024

Statement of changes in member’s equity for each year in the three-year period ended December 31, 2025

Statement of cash flows for each year in the three-year period ended December 31, 2025

Combined Notes to Financial Statements

8 unchanged sentences

001-07414) and incorporated herein by reference).

— Senior Indenture, dated as of November 30, 1995 between Northwest Pipeline Corporation and Chemical Bank, relating to Northwest Pipeline’s 7.125% Debentures due 2025 (filed on September 14, 1995 as Exhibit 4.1 to our registration statement on Form S-3 (File No.

033-62639) and incorporated herein by reference).

— Indenture, dated as of April 3, 2017, between Northwest Pipeline LLC and The Bank of New York Mellon Trust Company, N.A., as trustee (filed on April 3, 2017 , as Exhibit 4.1 to our current report on Form 8-K (File No.

6 unchanged sentences

001-04174) and incorporated herein by reference).

— C redit Agreement dated as of December 1, 2025 , among Northwest Pipeline LLC, as borrower, the lenders named therein, and PNC Bank, National Association, as Administrative Agent (filed on December 1, 2025 , as Exhibit 10 .1 to The Williams Companies, Inc.

’ s current report on Form 8-K (File No.

001-07414) and incorporated her ein by reference).

— Consent of Independent Registered Public Accounting Firm, Ernst & Young LLP.

23 unchanged sentences

Signature Title Date

ARMSTRONG President, Chief Executive Officer and Director February 25, 2025

Armstrong (Principal Executive Officer)

PORTER Senior Vice President and Chief Financial Officer February 25, 2025

President, Chief Executive Officer and Director February 24, 2026

(Principal Executive Officer)

PORTER Executive Vice President and Chief Financial Officer

February 24, 2026

Porter (Principal Financial Officer)

1 unchanged sentence

Hausman (Principal Accounting Officer)

Executive Chairman of the Board

February 24, 2026

/s/ STEPHEN W.

BERGSTROM Chairman of the Board February 25, 2025

Lead Independent Director

February 24, 2026

/s/ MICHAEL A.

6 unchanged sentences

Director February 24, 2026

ROBESON Director February 25, 2025

Signature Title Date

Director February 24, 2026

SHEFFIELD Director February 24, 2026

/s/ MURRAY D.

SMITH Director February 25, 2025

/s/ WILLIAM H.

8 unchanged sentences

Signature Title Date

Management Committee Member and

TEPLY Management Committee Member and

Senior Vice President

25 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.

What changed 10-K

Item 9A. Controls and Procedures