NETSTREIT Corp. 10-K Cybersecurity GRC - 2024-02-14

Page last updated on April 11, 2024

NETSTREIT Corp. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-02-14 16:56:14 EST.

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10-K filed on 2024-02-14

NETSTREIT Corp. filed an 10-K at 2024-02-14 16:56:14 EST
Accession Number: 0001798100-24-000011

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity Risk management and strategy Cyber Security Plan We have implemented various information security processes designed to identify, assess and manage material risks from cybersecurity threats to our critical computer networks, third party hosted services, communications systems, hardware and software, and our critical data, including intellectual property and confidential information that is proprietary, strategic or competitive in nature (including without limitation tenant and property related data) ( Information Systems and Data ). Our information security processes are overseen by our IT Manager and our Chief Accounting Officer, and supported by a cybersecurity monitoring service provider, who work to help identify, assess and manage the Company s cybersecurity threats and risks. Our IT Manager, as well as our service provider, work to identify and assess risks from cybersecurity threats by monitoring and evaluating our threat environment using various methods, including, for example subscribing to reports and services that identify certain cybersecurity threats, evaluating certain threats reported to us, engaging a third-party vendor to audit our security protocols in certain systems, and deploying automated monitoring tools across certain systems. Depending on the environment and system, we implement and maintain various technical, physical, and organizational measures, processes, standards and policies designed to manage and mitigate material risks from cybersecurity threats to our Information Systems and Data, including, for example: an incident response policy, risk assessments, network security controls for certain environments, periodic back-ups of certain data, access controls for certain environments, employee training addressing awareness of cyber risks and how to detect certain cyberattacks, and cybersecurity insurance. Risk Assessment Our assessment and management of material risks from cybersecurity threats are integrated into the Company s overall risk management processes. For example, cybersecurity risk is integrated into the Company s overall risk management processes, which includes an assessment of risks posed to data that is critical to our business operations (e.g., to support financial reporting, process payroll, and collect and maintain property and lease information). Third Party Risk Management The Company uses third-party service providers to assist us from time to time to identify, assess, and manage material risks from cybersecurity threats, including for example a managed service security provider that monitors certain of the Company s computer networks and third-party hosted services. We use third-party service providers to perform a variety of functions throughout our business, including application providers and hosting companies. The Company has implemented certain measures designed to help identify and mitigate cybersecurity threats associated with the use of third-party service providers, such as assessing the security protocols of certain service providers and obtaining security reports from certain vendors. Depending on the nature of the services provided, the sensitivity of the Information Systems and Data at issue, and the identity of the provider, our vendor management process may involve different levels of assessment designed to help identify cybersecurity risks associated with a provider and impose contractual obligations related to cybersecurity on the provider. 28 Table of Contents For a description of the risks from cybersecurity threats that may materially affect the Company and how they may do so, see our risk factors under Part 1. Item 1A. Risk Factors in this Annual Report on Form 10-K. Any material failure, weakness, interruption or breach in security of our information systems or data, or those of our third party vendors, could prevent us from effectively operating our business. Governance Our board of directors addresses the Company s cybersecurity risk management as part of its general oversight function. The board of directors audit committee is responsible for overseeing the Company s cybersecurity risk management processes, including oversight and mitigation of risks from cybersecurity threats. Our cybersecurity risk assessment and management processes are implemented and maintained by certain Company management, including our IT Manager, who has worked in various roles responsible for securing networks, hardware and other application systems, Chief Financial Officer, and Chief Accounting Officer. Our Chief Financial Officer is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into the Company s overall risk management strategy, and communicating key priorities to relevant personnel. Our Chief Financial Officer is responsible for approving budgets, helping prepare for cybersecurity incidents, approving cybersecurity processes, and reviewing security assessments and other security-related reports. Our cybersecurity incident response policy is designed to escalate certain cybersecurity incidents to members of management depending on the circumstances, including senior management. The Company has identified and designated certain Company employees as members of a cybersecurity incident response team, including the Chief Accounting Officer and the IT Manager. This team helps the Company mitigate and remediate cybersecurity incidents of which they are notified. In addition, the Company s incident response policy includes reporting to the audit committee of the board of directors for certain cybersecurity incidents. The audit committee of the board of directors receives quarterly reports concerning the Company s significant cybersecurity threats and risk and the processes the Company has implemented to address them. These quarterly reports include summaries or presentations related to cybersecurity threats, risk, and mitigation. 29 Table of Contents

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