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Privacy and data rules

173 of 521 companies added a paragraph in Risk Factors that uses one of these words: privacy, GDPR, personal data, personal information. The paragraph is in the latest 10-K and nothing like it was in the one before. It counts text; it does not say how serious a risk is. Words in capitals only (such as AI) must be in capitals.

By sector

Sector is the SEC's industry description of the company. Each count opens that sector's quotes below.

SectorCompaniesCompared
Orthopedic, Prosthetic & Surgical Appliances & Supplies55
Computer Peripheral Equipment, NEC22
Instruments For Meas & Testing of Electricity & Elec Signals22
Men's & Boys' Furnishgs, Work Clothg, & Allied Garments22
Rubber & Plastics Footwear22
Air Courier Services11
Apparel & Other Finishd Prods of Fabrics & Similar Matl11
Bottled & Canned Soft Drinks & Carbonated Waters11
Electronic Components & Accessories11
Electronic Connectors11
Engines & Turbines11
Gas & Other Services Combined11
General Industrial Machinery & Equipment, NEC11
Grain Mill Products11
Leather & Leather Products11
Meat Packing Plants11
Misc Industrial & Commercial Machinery & Equipment11
Miscellaneous Food Preparations & Kindred Products11
Oil & Gas Field Machinery & Equipment11
Paints, Varnishes, Lacquers, Enamels & Allied Prods11
Paper Mills11
Radiotelephone Communications11
Real Estate11
Retail-Drug Stores and Proprietary Stores11
Retail-Eating & Drinking Places11
Retail-Radio, Tv & Consumer Electronics Stores11
Retail-Retail Stores, NEC11
Rolling Drawing & Extruding of Nonferrous Metals11
Services-Advertising Agencies11
Services-Detective, Guard & Armored Car Services11
Services-Equipment Rental & Leasing, NEC11
Services-Miscellaneous Amusement & Recreation11
Services-Video Tape Rental11
Special Industry Machinery, NEC11
Water Supply11
Wholesale-Medical, Dental & Hospital Equipment & Supplies11
Computer Communications Equipment23
Electronic Computers23
Measuring & Controlling Devices, NEC23
Retail-Auto Dealers & Gasoline Stations23
Services-Commercial Physical & Biological Research23
Services-Computer Integrated Systems Design23
Services-Consumer Credit Reporting, Collection Agencies23
Services-Prepackaged Software1219
Finance Services1728
Biological Products, (No Diagnostic Substances)35
Computer Storage Devices35
Industrial Instruments For Measurement, Display, and Control35
Electronic & Other Electrical Equipment (No Computer Equip)24
Retail-Eating Places24
Services-Computer Processing & Data Preparation24
Accident & Health Insurance12
Cigarettes12
Cutlery, Handtools & General Hardware12
Industrial Organic Chemicals12
Mining & Quarrying of Nonmetallic Minerals (No Fuels)12
Paperboard Containers & Boxes12
Printed Circuit Boards12
Radio & Tv Broadcasting & Communications Equipment12
Retail-Auto & Home Supply Stores12
Services-Medical Laboratories12
Services-To Dwellings & Other Buildings12
Telephone Communications (No Radiotelephone)12
Transportation Services12
Trucking (No Local)12
Wholesale-Groceries & Related Products12
Services-Computer Programming, Data Processing, Etc.25
Services-Business Services, NEC616
Investment Advice38
National Commercial Banks411
Real Estate Investment Trusts927
Insurance Agents, Brokers & Service26
Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip13
Computer & office Equipment13
Life Insurance13
Perfumes, Cosmetics & Other Toilet Preparations13
Retail-Building Materials, Hardware, Garden Supply13
Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics13
Surgical & Medical Instruments & Apparatus310
Security Brokers, Dealers & Flotation Companies27
Semiconductors & Related Devices415
Search, Detection, Navigation, Guidance, Aeronautical Sys14
Security & Commodity Brokers, Dealers, Exchanges & Services14
Hospital & Medical Service Plans15
Hotels & Motels15
Laboratory Analytical Instruments15
Retail-Variety Stores15
Pharmaceutical Preparations211
Fire, Marine & Casualty Insurance212
Petroleum Refining16
State Commercial Banks16
Crude Petroleum & Natural Gas17
Electric Services215

432 paragraphs · Computer Peripheral Equipment, NEC show all sectors

FTNT Fortinet, Inc. · Computer Peripheral Equipment, NEC

In addition to the GDPR, the EU has also enacted legislation that would regulate non-personal data and establish new cybersecurity standards, and other countries, including the U.K., may similarly do so in the future. In particular, the EU Data Act went into effect in 2024 and imposes certain data and cloud service interoperability and switching obligations to enable users to switch between cloud service providers (as well as certain requirements concerning cross-border international transfers of non-personal data outside the EEA). Additionally, the EU’s Network and Information Security Directive II, adopted in 2023, regulates resilience and incident response capabilities of entities operating in a number of sectors, including the digital infrastructure sector and provides for EU member states to have issued implementing legislation by October 2024. Further, DORA became effective in January 2025 and imposes certain requirements on entities in the financial sector and their third-party cloud service providers related to managing and mitigating information and communication technology risk. If we are unable to transfer data, including personal data, between and among countries and regions in which we operate, or are otherwise required to modify our practices, including our data privacy and security controls and procedures, it could affect the manner in which we provide our services, the geographical location or segregation of our relevant systems and operations, and could adversely affect our financial results.

Read in the 10-K filed Feb 25, 2026 ↗
PANW Palo Alto Networks Inc · Computer Peripheral Equipment, NEC

Vulnerabilities within our AI systems may be identified by researchers or malicious actors before we detect or remediate them, which could result in security incidents, data privacy issues, reputational damage, or loss of customer confidence. Advances in AI have also increased the speed, scale, and sophistication of cybersecurity threat activity, including reducing the time between vulnerability discovery and exploitation. To the extent customers, investors, or other market participants perceive that AI can automate or commoditize aspects of cybersecurity functions, the perceived value of certain cybersecurity solutions could diminish, and customer buying patterns, competitive dynamics, and demand for our products, subscriptions, and support offerings could be adversely affected. Investor and market perceptions regarding AI-related disruption to the cybersecurity industry could adversely affect our business and operating results, or the trading price of our common stock, even if these perceptions do not reflect actual changes in our business, customer demand, competitive positions, or financial performance.

Read in the 10-K filed Sep 10, 2026 ↗

We are also subject to federal, state, provincial, and foreign laws regarding cybersecurity and the protection of our systems and confidential information. Many jurisdictions have enacted laws, such as the GDPR and the E.U. Network and Information Systems Directive II, requiring companies to adopt cybersecurity risk management measures and notify regulators (and individuals) of data breaches or cybersecurity incidents. If our data security measures fail to adequately protect our systems or confidential information, we could be liable to both our customers and their users for

Read in the 10-K filed Sep 10, 2026 ↗