F-PD — FORD MOTOR CO SEC Filings

Date	Insider	Action	Shares	Price	Value
Feb 19, 2026	Ford William Clay JrExecutive Chair and Chair	Buy	140,000	$13.82	$1.9M
Nov 14, 2025	Thornton John LDirector	Buy	7,520	$13.19	$99K

What Changed

Risk factors · Feb 6, 2025 → Feb 11, 2026

74 added · 79 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.

Newly disclosed

For example, as part of a consent order we entered into with NHTSA in 2024, we have retained an independent third party selected by NHTSA to assess the Company’s adherence to the consent order and Safety Act over the term of the consent order and to report on Ford’s progress to NHTSA.
For example, the new battery energy storage business we announced in the fourth quarter of 2025 or our efforts to evaluate and implement alternative distribution models and channels for our products and services from those we have traditionally used may be challenged or may not succeed or be as successful as our historical arrangements.
For example, in December 2025, we announced our updated EV strategy, the expected disposition of our investment in BlueOval SK, LLC, and the charges we expected to record related to those items.
For example, in 2025, Ford terminated some of its obligations to purchase credits as a result of the reduction in stringency of, or elimination of, compliance requirements.
For example, in 2025, our production was disrupted by fires at one of our major aluminum suppliers, the effects of which are ongoing.
For example, the EU Corporate Sustainability Reporting Directive and Australia’s Sustainability Reporting Standard both require expanded sustainability-related disclosures, including how companies manage climate risks and align their strategies with global climate goals.
For example, China’s restriction on the export of rare earth minerals, which we and our suppliers utilize for a number of components, has impacted (e.g., rescheduling production, changing operating patterns) 19 Item 1A.
Shifting public policy regarding data privacy and the effects of artificial intelligence has caused and may in the future cause us to incur substantial costs to modify our operations or business practices, reduce consumers’ willingness to engage with our offerings, or cause delays or lapses in the availability of our products or services in various jurisdictions.
Wholesales 2024 2025 2024 2025 Electric Vehicles 97,865 84,113 68,990 82,530 Hybrid Vehicles 187,426 228,072 215,735 216,599 Internal Combustion Vehicles 1,793,541 1,891,939 1,914,862 1,805,372 Total Vehicles 2,078,832 2,204,124 2,199,587 2,104,501 5 Item 1 .
However, in 2025, federal legislation—which is currently subject to legal challenge—eliminated the authority of California and other states to implement and enforce most of their emissions standards (and zero-emission vehicles (“ZEV”) sales requirements, which are discussed below).
The United Kingdom has introduced the Vehicle Emission Trading Schemes (“VETS”), which is applicable to manufacturers and establishes ZEV mandates of 80% for cars and 70% for light commercial vehicles by 2030, with a ban on ICE passenger vehicles beginning in 2030 and light commercial vehicles beginning in 2035.
EPA GHG standards, the Canadian federal government will end its longstanding regulatory alignment with the United States on GHG requirements, and in February 2026, Canada announced its intention to introduce GHG emission standards for light-duty vehicles to achieve a goal of 75% EV sales by 2035 and 90% by 2040.

No longer disclosed

For example, in those opt-in states that have adopted California’s ZEV requirements for light-duty vehicles, industrywide sales of ZEVs are growing but generally are not on track to meet the ZEV requirements as early as the 2026 model year, and product-led actions may be necessary to ensure compliance. 9 Item 1.
For example, the Corporate Sustainability Reporting Directive requires companies to disclose the compatibility of their business model and strategy with limiting global warming to 1.5°C in line with the Paris Agreement.
Wholesales 2023 2024 2023 2024 Electric Vehicles 72,608 97,865 99,928 68,990 Hybrid Vehicles 133,743 187,426 146,249 215,735 Internal Combustion Vehicles 1,789,561 1,793,541 1,850,448 1,914,862 Total Vehicles 1,995,912 2,078,832 2,096,625 2,199,587 FORD NEXT SEGMENT In 2024, the Ford Next segment primarily included expenses and investments for emerging business initiatives aimed at creating value for Ford in vehicle-adjacent market segments.
To manage the uncertainty from the 2019 waiver rescission, pending legal challenges, and other considerations, Ford reached an agreement with California and opt-in states on a set of terms for an alternative framework in which Ford committed to meet a designated set of GHG standards on a national basis for the 2021 through 2026 model years that were more stringent than the then-rolled back federal standards in lieu of the California regulatory program.
Risk Factors (Continued) could have a significant adverse effect on our financial condition and results of operations, as was the case in 2020, when, consistent with actions taken by governmental authorities, we idled our plants in regions around the world.
In the fourth quarter of 2024, we entered into agreements for the purchase of about $500 million of regulatory compliance credits, and for full year 2024, we entered into agreements for the purchase of about $4.3 billion of such credits.
As of January 1, 2025, Ford Next is no longer a reportable segment, and those expenses and investments are now reflected in either the reportable segments that benefit from those expenses and investments or Corporate Other. 5 Item 1.

FORD MOTOR CO

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