7 paragraphs in Risk Factors of the 10-K filed Feb 27, 2026
with nothing like them in the 10-K filed Mar 3, 2025. Quoted exactly.
Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 74 Technology companies:
a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it.
A paragraph most of them have is marked boilerplate. No line means no other company has one like it.
This counts text; it does not say how serious a risk is.
risks in connection with our internal control over financial reporting, the identified material weakness and the restatement of our prior financial statements;
Read in the 10-K ↗
the loss of key personnel and our ability to retain key employees to maintain or upgrade our business systems and maintain internal controls;
Similar paragraph at 4 of 74 other Technology companies:
AMAT,
STX,
WDAY,
WDC
changes in U.S. laws, or the interpretation and enforcement of these laws, regarding investment in China or other countries;
Read in the 10-K ↗
integrating the acquired company’s technology or products into our products or product offerings;
Read in the 10-K ↗
The restatement of our 2024 annual financial statements and our 2025 quarterly financial statements may affect investor confidence and raise reputational issues and may subject us to additional risks and uncertainties, including increased professional costs and the increased possibility of legal proceedings and regulatory inquiries.
As discussed in Notes 2 and 17 to the Consolidated Financial Statements included elsewhere in this Annual Report on Form 10-K, we restated our audited consolidated financial statements for the fiscal year ended December 31, 2024 and our unaudited condensed consolidated financial statements for the quarterly periods ended March 31, 2025, June 30, 2025 and September 30, 2025 after we determined that we had not appropriately accounted for deferred income taxes associated with a one-time tax incentive granted by a certain foreign jurisdiction. As a result of this error and the resulting restatement of our audited consolidated financial statements and unaudited condensed consolidated financial statements for the impacted periods, we have incurred, and may continue to incur, unanticipated accounting and legal fees in connection with or related to the restatement, and are subject to a number of additional risks and uncertainties, including the increased possibility of litigation and regulatory inquiries. The restatement may adversely affect investor confidence in the accuracy of our financial disclosures, may harm our reputation and our business and could cause our stock price to decline.
We face risks in connection with our internal control over financial reporting and the identified material weakness.
Similar paragraph at 1 of 74 other Technology companies:
ANET
New in the latest 10-Q
6 paragraphs in the 10-Q filed Nov 3, 2026 with nothing like
them in the 10-Q filed Aug 5, 2026 (at least half the words must differ; new numbers alone do not count).
Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
In July 2026, the Compensation Committee granted 60,000 MPSUs to approximately 2,100 non-executive employees, which represents a target number of shares that can be earned based on the achievement of both market and performance conditions (“2026 Non-Executive MPSUs”). The number of shares that an employee can earn is up to 500 % of the employee’s target number of the 2026 Non-Executive MPSUs based on the market conditions. The market conditions consist of five stock price targets ranging from $ 1,936.56 to $ 2,766.52, each applicable to a tranche equal to the employee’s target number of 2026 Non-Executive MPSUs. The market conditions further include simultaneous total stockholder return percentile ranking at or above the 50th percentile relative to constituent entities in the Philadelphia Semiconductor Sector Index (the “PHLX Index”). The measurements for market conditions are based on a 90 -consecutive-trading-day average closing price. The performance conditions consist of a revenue goal and a manufacturing capacity goal. The market conditions and the performance conditions have to be achieved within three years from the grant date for the awards to vest. The number of shares earned is based on the achievement of these market and performance conditions, and will vest in equal installments on the first, second, and third anniversaries after the end of the three-year performance period, subject to continued service to the Company. The 2026 Non-Executive MPSUs do not have post-vesting sales restrictions.
Read in the 10-Q ↗
In July 2026, the Compensation Committee also granted 80,000 MPSUs to executive officers, which represents a target number of shares that can be earned based on the achievement of both market and performance conditions (“2026 Executive MPSUs”). The number of shares that an executive can earn is up to 500 % of the executive’s target number of the 2026 Executive MPSUs. The market conditions and the performance conditions are the same as the conditions applicable to the 2026 Non-Executive MPSUs. The earned tranche(s) will vest on the date on which the corresponding market and performance conditions for the tranche(s) are achieved, subject to continued service through such date. Vested shares will be subject to post-vesting sales restrictions through the end of the three-year performance period.
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The grant date fair value for the 2026 Executive MPSUs is also determined using a Monte Carlo simulation model with the same assumptions as the 2026 Non-Executive MPSUs. In addition, the model for the 2026 Executive MPSUs includes an illiquidity discount ranging from 0 % to 8.97 %, depending on the applicable holding period that may be in effect post-vesting. Considering the illiquidity discount and assuming performance conditions are achieved by the end of the three-year period, the total stock-based compensation cost for the 2026 Executive MPSUs is in the range of $ 312.1 million to $ 342.9 million.
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As of September 30, 2026, stock rotation and sales returns included a $ 25.8 million stock rotation reserve, compared with a $ 15.0 million reserve as of December 31, 2025. The change in the reserve is affected by the timing of customer returns and the level of inventory in the distribution channel.
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related claims have not been material. The estimated amount of product warranty and rework liabilities was $ 13.3 million and $ 10.1 million as of September 30, 2026 and December 31, 2025, respectively.
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2026 2025 Reported as: Cash and cash equivalents $ 560,544 $ 1,099,302 Short-term investments 530,690 157,243 Investments within other long-term assets - 49 Total $ 1,091,234 $ 1,256,594
Read in the 10-Q ↗
The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Nov 3, 2026 against Item 1A of the 10-K filed Feb 27, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
Added10-Q 2026-11-03 vs 10-K 2026-02-27
Our business, reputation, results of operations, financial condition and stock price can be affected by a number of factors, whether currently known or unknown, including those described in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025 under the heading “Risk Factors.” When any one or more of these risks materialize from time to time, our business, reputation, results of operations, financial condition and stock price can be materially and adversely affected. There have been no material changes to our risk factors since the filing of our Annual Report on Form 10-K for the year ended December 31, 2025.
Read it in the 10-Q at sec.gov ↗
