Open-market buys & sells (Form 4, transaction codes P/S), aggregated per insider over the trailing 12 months. Source: SEC structured insider data.
What Changed
Risk factors · Mar 10, 2025 → Feb 27, 2026
78 added · 68 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.
Newly disclosed
Incorporated by reference from Exhibit 10.11 to the Company’s Form 10-K for the fiscal year ended December 30, 2017 and filed on February 27, 2018. 10.11 Executive Severance Agreement executed January 31, 2025, to be effective as of April 1, 2025, by and between Armin Boehm and Escalade, Incorporated.
Incorporated by reference from Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on February 6, 2025. 10.12 Amendment, Waiver, Release, Non-Competition, Non-Solicitation, and Non-Disclosure Agreement dated as of November 5, 2025, by and between Armin Boehm and Escalade, Incorporated.
Goodwill impairment assessment for the Escalade Sports reporting unit As described further in Note 1 and Note 5 to the consolidated financial statements, the goodwill balance as of December 31, 2025, was $42.3 million, of which all of that balance was allocated to the Escalade Sports reporting unit.
The fair market value was determined by weighting the two methods equally. 42 During the third quarter of 2025 we identified a potential indicator of impairment due to the increase in tariff-related costs which led to the conclusion that a triggering event had occurred.
Incorporated by reference from Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on November 10, 2025. 19.1 Escalade, Incorporated Confidentiality of Insider Information and Securities Trades by Company Personnel.
The results of the quantitative impairment assessment of the Escalade Sports reporting unit indicated that the fair value of the reporting unit was greater than the carrying value as of September 1, 2025.
The results of the qualitative impairment assessment indicated that it was not “more likely than not” that the fair value of the reporting unit was less than the carrying value as of December 31, 2025.
Incorporated by reference from Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on November 10, 2025. 10.13 Offer Letter, dated November 10, 2025, by and between Patrick J.
The Company reviews goodwill and other indefinite lived intangibles for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable, in accordance with guidance in FASB ASC 350, Intangibles – Goodwill and Other .
Based on our interim impairment test of goodwill as of September 1, 2025, it was determined that the fair value of the reporting unit was in excess of the carrying value.
Incorporated by reference from Exhibit 10.1 to the Company’s Form 8-K filed on October 15, 2024.
Information required under this item with regard to insider trading policies and procedures will be contained in the registrant's proxy statement relating to its annual meeting of stockholders scheduled to be held on May 5, 2026 under the caption “Compensation Discussion and Analysis – Prohibitions on Hedging” and is incorporated herein by reference.
No longer disclosed
The results of the quantitative impairment assessment of the Escalade Sports reporting unit indicated that the fair value of the reporting unit was greater than the carrying value as of November 1, 2024. 26 Capital Expenditures As of December 31, 2024, the Company had no material commitments for capital expenditures.
“Controls and Procedures” of our Annual Report on Form 10-K for the year ended December 31, 2023, among other material weaknesses, we identified a material weakness in our internal control over financial reporting related to controls over the period end close process involving segregation of duties conflicts.
“Controls and Procedures” of our Annual Report on Form 10-K for the year ended December 31, 2023, in connection with our assessment of the effectiveness of internal control over financial reporting as of December 31, 2023, we identified control deficiencies relating to: ● Information technology general controls particularly as such controls related to user access, program change management, and ineffective complementary user-organization controls, which limited management’s ability to rely on technology dependent controls relevant to the preparation of the Company’s consolidated financial statements. ● Controls over the period end process, including the review and approval process of journal entries, account reconciliations, segregation of duties conflicts, and consolidation of intercompany entries. ● Documentation and design of controls related to various key financial statement accounts and assertions. ● The risk assessment, control activities, information and communication, and monitoring components of the Company’s internal control framework such that internal control weaknesses were not detected, communicated, addressed with mitigating control activities, or remediated.
Incorporated by reference from Exhibit 10.11 to the Company’s Form 10-K for the fiscal year ended December 30, 2017 and filed on February 27, 2018. 19.1 Escalade, Incorporated Confidentiality of Insider Information and Securities Trades by Company Personnel.
The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates. 35 Goodwill impairment assessment for the Escalade Sports reporting unit As described further in Note 1 and Note 5 to the consolidated financial statements, the goodwill balance as of December 31, 2024, was $42.3 million, of which all of that balance was allocated to the Escalade Sports reporting unit.
Incorporated by reference from Exhibit 10.1 to the Company’s Form 8-K filed on October 15, 2024. 32 (4) Executive Compensation Plans and Arrangements 10.6 Escalade, Incorporated 2017 Incentive Plan.
Other intangible assets are amortized using the straight-line method over the following lives: license agreements, 17 years; developed technology, 5 years; trade names, 20 years to indefinite life; consulting agreements, the life of the agreement; customer lists, 3 to 15 years; non-compete agreements, the lesser of the term or 5 years; and patents, the lesser of the remaining life or 5 to 15 years. 45 The Company reviews goodwill and other indefinite lived intangibles for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable, in accordance with guidance in FASB ASC 350, Intangibles – Goodwill and Other .
In connection with the preparation of the Company’s financial statements for the year ended December 31, 2024, management identified a continued material weakness in the Company’s internal control over financial reporting as described below.
Although all other material weaknesses reported in the prior year have been remediated, management believes that, as of December 31, 2024, the Company’s internal control over financial reporting remains not effective due to this continued issue.
Other than described above with respect to segregation of duties conflicts, we have completed execution of our remediation plans for these material weaknesses and, as of December 31, 2024, successfully remediated these material weaknesses by implementing the following: ● Enhanced the design and documentation of our controls to evidence the existence of our controls, including our information technology general controls, risk assessment, information and communication, monitoring activities; ● Performed a risk assessment over the IT systems used as part of financial reporting and business processes, including various layers of technology; ● Implemented additional review and reconciliation controls to support the period end financial reporting process; and ● Hired an internal audit resource to effectively implement additional review, monitoring, and risk assessment.
We also have audited the adjustments to the 2023 information in Note 11 to retrospectively apply the change in accounting (resulting from the adoption of Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ), as described in Note 1.
We were not engaged to audit, review, or apply any procedures to the 2023 financial statements of the Company other than with respect to such adjustments and, accordingly, we do not express an opinion or any other form of assurance on the 2023 financial statements taken as a whole.