PROCEPT BioRobotics Corp 10-K Cybersecurity GRC - 2024-02-28

Page last updated on April 11, 2024

PROCEPT BioRobotics Corp reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-02-28 16:30:31 EST.

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10-K filed on 2024-02-28

PROCEPT BioRobotics Corp filed an 10-K at 2024-02-28 16:30:31 EST
Accession Number: 0001588978-24-000006

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity Cybersecurity Risk Management and Strategy We have established policies and processes for assessing, identifying, and managing material risk from cybersecurity threats, and have integrated these processes into our overall risk management systems and processes. We routinely assess material risks from cybersecurity threats, including any potential unauthorized occurrence on, or conducted through our information systems that may result in adverse effects on the confidentiality, integrity, or availability of our information systems or any information residing therein. Our information technology team conducts monthly security assessments to identify cybersecurity threats utilizing third-party experts retained by us, as well as assessments in the event of a material change in our business practices that may affect information systems that are vulnerable to such cybersecurity threats. Our research and development team utilizes third-party experts to evaluate cybersecurity risks during our product development process. These risk assessments include identification of reasonably foreseeable internal and external risks, the likelihood and potential damage that could result from such risks, and the sufficiency of existing policies, procedures, systems, and safeguards in place to manage such risks. Following these risk assessments, we reasonably address any identified gaps in existing safeguards and regularly monitor the effectiveness of our safeguards. Our head of information technology periodically make reports to the Company s Chief Financial Officer on the results of our risk assessment and mitigation process. As part of our overall risk management system, we monitor and test our safeguards and train all of our employees on cybersecurity safeguards related to our information technology systems. Personnel at all levels and departments are made aware of our cybersecurity policies through random cybersecurity testing and remedial trainings. There can be no assurance 77 Table of Contents that our cybersecurity risk management program and processes, including our policies, controls, and procedures, will be fully implemented, complied with or effective in protecting our systems and information. We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected or are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. See the section titled Risk Factors in this Annual Report for additional information. Cybersecurity Governance One of the key functions of our board of directors is informed oversight of our risk management process, including risks from cybersecurity threats. Our board of directors administers its cybersecurity risk oversight function directly as a whole, as well as through delegation of primary responsibility to the audit committee. The audit committee receives periodic reports, at least annually, on our cybersecurity program, industry best practices, and any incidents or trends. Our board of directors is responsible for monitoring and assessing strategic risk exposure, and our executive officers are responsible for the day-to-day management of the material risks we face. The audit committee receives annual reports from management personnel responsible for enterprise risk management, which also evaluates cybersecurity among other enterprise level risks on an annual basis. Our security officer, our Chief Financial Officer, and our head of information technology are primarily responsible to assess and manage our material risks from cybersecurity threats. Our incident response plan designates our head of information technology as primarily responsible for identifying and evaluating any cybersecurity incident or suspected incident, and reporting any such incidents to management (including the security officer, Chief Financial Officer, and Chief Legal Officer) in order for management to evaluate materiality, and to report to our audit committee, our board of directors and make public disclosures as applicable.

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