FLOTEK INDUSTRIES INC/CN/ 10-K Cybersecurity GRC - 2024-03-15

Page last updated on April 11, 2024

FLOTEK INDUSTRIES INC/CN/ reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-03-15 06:17:02 EDT.

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10-K filed on 2024-03-15

FLOTEK INDUSTRIES INC/CN/ filed an 10-K at 2024-03-15 06:17:02 EDT
Accession Number: 0000928054-24-000023

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity The Company faces a variety of cybersecurity threats that could impact its business, financial condition, results of operations, cash flows or reputation. The Company has established a Cybersecurity Incident Response Team (the CIRT ) to develop and continually enhance a cyber incident response plan, which guides the Company in identification, containment, eradication and recovery from cybersecurity incidents. The CIRT is charged with the evaluation and implementation of incident response tools, and the implementation of training procedures and exercises to mitigate and remediate potential cybersecurity incidents. The CIRT members are comprised of representatives from management, including the Company s Chief Executive and Financial Officers, information technology, legal and communications teams and reports to the Risk & Sustainability Committee of the Company s Board of Directors, which is tasked with oversight of the general risk and sustainability programs of the Company. The Board has an active role in overseeing management of the Company s risks and regularly reviews information regarding the Company s operations, liquidity and associated risks. While each committee of the board is responsible for evaluating certain risks and overseeing the management of those risks, the entire board is regularly informed through committee reports. The Company uses several real-time systems for detecting potential threats to its systems, devices and user accounts. The Company also engages third-party consultants to evaluate its security and disclose any potential weaknesses within the Company s systems. The CIRT will review the steps required to minimize the effects of any discovered weaknesses and implement changes as deemed necessary. The Company s information technology team is tasked with the initial assessment of a suspected incident and evaluates the suspected incident based on the Company s cybersecurity policy. In the event of an incident, we intend to follow our cyber incident response plan. Any assessment that is deemed an actionable incident would trigger an alert to the CIRT. The CIRT will further assesses the incident according to a predefined scale (e.g., low, medium, high and critical) and initiate the Company s incident response plan and communication protocols. The CIRT, in conjunction with the Risk and Sustainability Committee, will assess the materiality of the incident with respect to the rules, regulations and disclosure requirements of the SEC and NYSE. See Risk Factors in Item 1A of this Annual Report. As of 20 December 31, 2023, we have not identified any risks from known cybersecurity threats that have materially affected or are reasonably likely to materially affect the Company, including its business strategy, results of operations or financial condition.

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