Desktop Metal, Inc. 10-K Cybersecurity GRC - 2024-03-15

Page last updated on April 11, 2024

Desktop Metal, Inc. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-03-15 16:12:10 EDT.

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10-K filed on 2024-03-15

Desktop Metal, Inc. filed an 10-K at 2024-03-15 16:12:10 EDT
Accession Number: 0001558370-24-003411

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity Cybersecurity Risk Management and Strategy We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. Our cybersecurity risk management program includes a cybersecurity incident response plan. We design and assess our programs based on both the NIST and ISO 27002 frameworks. We are also working towards CMMC Level 2 certification. This does not imply that we meet, or will meet any particular technical standards, specifications, or requirements, only that we use these frameworks as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. 44 Table of Contents Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas. Our cybersecurity risk management program includes: 1. An INFOSEC team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents 2. Both internal and 3 rd party risk assessments of our environments, designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise IT environment. 3. The use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security controls. 4. Cybersecurity awareness training of our employees, incident response personnel, and senior management. 5. A cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents. There can be no assurance that our cybersecurity risk management program and processes, including our policies, controls or 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. For more information, see the section titled Risk Factor Risks Related to Our Business and Industry We rely on our information technology systems to manage numerous aspects of our business and a failure, disruption, or breach of these systems could adversely affect our business. We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. Our cybersecurity risk management program includes a cybersecurity incident response plan. Cybersecurity Governance The Board is responsible for overseeing management s assessments of major risks facing the Company and for reviewing options to mitigate such risks. The Board s oversight of major risks, including cybersecurity risks, occurs at both the full Board level and at the Board committee level through the Audit Committee. The Board. The Chief Financial Officer, General Counsel, members of senior management, and other personnel and advisors, as requested by the Board, report on the Company s financial, operating, and commercial strategies, as well as major related risks, which may include cybersecurity risks, at regularly scheduled meetings of the Board. Based on these reports, the Board requests follow-up data and presentations to address any specific concerns and recommendations. Additionally, the Audit Committee has opportunities to report periodic to the entire Board and review with the Board any major issues that arise at the committee level, which may include cybersecurity risks. The Audit Committee. The Audit Committee receives updates from the Chief Information Officer on the Company s technology and cybersecurity frameworks, policies, programs, opportunities, and risk profile at its periodic scheduled meetings, including management s implementation of our cybersecurity risk management program. The Chief Information Officer reports quarterly to the Audit Committee on the Company s technology, data privacy, and cybersecurity strategies and risks. Cybersecurity topics presented to the Audit Committee by management include any significant cybersecurity incidents, the cyber threat landscape, cybersecurity program enhancements, cybersecurity risks and related mitigation activities, and any other relevant cybersecurity topics. 45 Table of Contents INFOSEC . Our INFOSEC team, which includes the Chief Information Officer, is responsible for assessing and managing our material risks from cybersecurity threats. The INFOSEC team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our INFOSEC team s experience includes vast proven experience working in management roles related to cybersecurity, risk, and data privacy in various leading global companies. Our INFOSEC team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us and alerts and reports produced by security tools deployed in the IT environment.

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