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S&P 500 Consumer Staples Sector SEC Filings — March 24, 2026

USA S&P 500 Consumer Staples

39 high priority11 medium priority50 total filings analysed

Executive Summary

Across 50 filings in the USA S&P 500 Consumer Staples intelligence stream (broadly encompassing food, beverages, household, personal care, and adjacent sectors), dominant themes include neutral-to-positive compliance assertions in 15+ mortgage trusts (e.g., Benchmark, JPMDB, CF series), signaling stable ABS servicing with no material non-compliance. Period-over-period trends show mixed performance: robust growth in outliers like Cadeler A/S (profit +330% YoY to €280M, EBITDA +238% to €425M) and Select Water Solutions (segment revenues +19% YoY), contrasted by declines in G-III Apparel (net sales -7% YoY to $2.96B, op profit -63%) and Velo3D (Q4 rev -25% YoY, gross margin -73.6%). Capital allocation highlights dividend declarations (Braemar Hotels) and debt refinancings (Moog +5.5% notes, Kodiak 5.875% notes), while M&A speculation emerges in Estée Lauder (potential Puig merger, materiality 9/10). Portfolio-level patterns reveal 6/10 high-materiality filings with mixed sentiment due to growth-margin tradeoffs, 12+ proxy statements clustering AGMs in May 2026 for governance catalysts, and financing inflows supporting expansion amid rising indebtedness (e.g., Cadeler debt to €1.46B). Overall, actionable intelligence points to monitoring beauty M&A and energy-adjacent growth amid apparel weakness, with no widespread insider selling but leadership transitions signaling potential volatility.

Tracking the trend? Catch up on the prior S&P 500 Consumer Staples Sector SEC Filings digest from March 23, 2026.

Investment Signals(12)

  • In discussions for potential merger with Puig (no terms finalized), high materiality 9/10, could unlock synergies in personal care

  • FY2025 profit +330% YoY to €280.2M, EBITDA +238% YoY to €425.4M, revenue €490M from charters/installations, cash +196% to €151.7M

  • 2025 segment revenues +19% YoY (Water Infrastructure $313M, Services $787M, Chemicals $308M), recycling capacity 2.4M bbl/day

  • Merger discussions with CECO highlight 9% adj topline growth since 2017, 83% OpEx/recurring revs, customers CapEx +26% YoY, backlog at record

  • Board declared March 2026 dividends on multiple preferred series (11.5M Series E, 1.4M Series M shares outstanding)

  • FY2025 revenue +12% YoY to $46M, record Q4 bookings, $31M backlog, $44M defense contracts, cash +$37.8M to $39M, 2026 guidance $60-70M rev

  • FY2025 revenue +4% YoY to $59.2M, Adj EBITDA +278% to $3.0M, net loss -21% to $13.5M, G&A -23%

  • Royalty income +73% YoY to $3.8M, distributable income +175% to $2.2M ($0.128/unit), discounted future cash flows +81% to $17,576

  • QUIDEOORTHO CORP(BULLISH)

    Appointed experienced CLO Nathaniel Sisitsky (ex-NuVasive, CareFusion), succeeding retiring Michelle Hodges, bolstering legal/governance

  • INTEL CORP(BULLISH)

    Proxy highlights 'Reinventing Intel' progress under CEO Lip-Bu Tan, Intel 18A/14A advancements, 4 new independent directors since 2024

  • Secured $350M term loan (1.10% Term SOFR margin), no performance declines noted

  • Smooth leadership transition with CEO Rob Mionis as new Chair, adding semiconductor expert David Reeder to board May 1, 2026

Risk Flags(10)

  • FY2026 net sales -7% YoY to $2.96B, gross margin -140 bps to 39.4%, op profit -63% to $108M on $49M impairments (vs $8M), net income -65%

  • VELO3D, INC.[HIGH RISK]

    Q4 2025 rev -25% YoY to $9.4M, gross margin -73.6% (vs -3.5%), FY margin -16.1% (vs -5.1%) on $7M inventory write-down

  • CADELER A/S[MEDIUM RISK]

    Net debt ballooned to €1.46B (+181% YoY) from €520M, non-current debt +176% to €1.49B on €1.26B investing outflows

  • Q4 rev -8% YoY to $15.7M, gross margin -23% to $4.2M, cash -44% to $1.4M, current liabilities +244% to $116.2M

  • MOOG INC.[MEDIUM RISK]

    Refinanced $500M 4.25% 2027 notes with 5.50% 2034 notes (rate +125 bps), potential interest expense increase, redemption April 3, 2026

  • Key licenses expiring FY2026-2027 totaling $827M (29% of sales), Calvin Klein/Tommy Hilfiger staggered through 2027

  • Proved reserves -4% to 14,944 MMcf, net royalty interest -11% to $9.1M, trust corpus -5% to $12.7M amid amortization

  • CFO Kris Corbett resignation effective ~May 29, 2026, no successor named, potential leadership gap

  • X CEL BRANDS, INC.[HIGH RISK]

    Loan amendment mandates asset sale/refinancing by March 24, 2026 to repay obligations, Min Liquid Assets covenant to $500K

  • Net working capital deficit widened to -$95.5M from -$13.5M, op cash flow -32% to $1.3M

Opportunities(10)

Sector Themes(6)

  • Mortgage Trust Compliance Stability(STABLE)

    15/50 filings (e.g., Benchmark 2018-B7/2020-B22, JPMDB 2019-COR6, CF 2019-CF3) report full Reg AB 1122 compliance by servicers like Midland/KeyBank, no material non-compliance, N/A criteria typical; implies low ABS default risk

  • Proxy/AGM Cluster May 2026(CATALYST-RICH)

    12+ filings (Intel May 13, Kronos May 13, Select Water May 7, Montrose May 6, Asbury May 4, Iron Mountain May 7) seek director elections, auditor ratifications, say-on-pay; watch governance changes/activism

  • Mixed Revenue Growth with Margin Pressure(CAUTIONARY)

    7/12 growth reporters show +4-330% YoY revenue (avg ~50%), but 4/7 had margin compression (G-III -140bps, Velo3D -1,110bps Q4, Bright Mountain -4% gross); growth-margin tradeoff in consumer/energy adjacents

  • Debt Financing Surge(EXPANSIONARY)

    5 issuances (Moog $500M 5.5%, Kodiak $1B 5.875%, PGE $350M term loan, Braemar dividends) extend maturities/raise capital, rates 5-6%, covenants restrict dividends/liens; supports expansion but raises expense

  • Leadership Transitions Prevalent[VOLATILITY RISK]

    7 filings note CFO resignations (New Mountain entities), Chair changes (Celestica, Intel), director departures (Raphael); no disagreements cited, but May 2026 effective dates overlap AGMs

  • M&A/Synergy Speculation

    Estée Lauder-Puig talks (9/10 mat), Thermon-CECO discussions highlight cross-selling (power markets, Asia), license risks (G-III $827M expiring); consolidation in beauty/industrials [M&A WAVE]

Watch List(8)

  • Monitor Puig deal progress post-March 23 announcement, no terms/assurances yet, potential 8-K updates

  • Expirations Dec 2025-2027 ($827M sales risk), track renewals/impacts on FY2026 sales [Q2-Q4 2026]

  • $60-70M 2026 rev, EBITDA+ H2, post-$7M write-down execution; Q1 earnings for bookings update [H2 2026]

  • NEW MOUNTAIN entities (Finance/Guardian IV) / CFO Transition
    👁

    Kris Corbett exit by May 29, 2026, successor announcement amid BDC operations [May 2026]

  • May 13, 2026 virtual meeting, vote on equity plans, China risk proposal, 18A process updates [May 13, 2026]

  • May 13, 2026, elect 8 directors, say-on-pay; 115M shares outstanding [May 13, 2026]

  • May 7, 2026, director elections post-Douglas Wall retirement, auditor ratification [May 7, 2026]

  • Virtual May 7, 2026, director elections, Deloitte ratification for FY2026 [May 7, 2026]

Filing Analyses(50)
Artificial Intelligence Technology Solutions Inc.8-Kpositivemateriality 4/10

24-03-2026

Artificial Intelligence Technology Solutions, Inc. (AITX) filed an 8-K on March 24, 2026, furnishing a press release announcing that its RAD division is expanding its presence in Alaska through a new ROSA order, which highlights the product's reliable performance in extreme weather conditions. The press release is attached as Exhibit 99.1 under Item 8.01 Other Events. No financial metrics or period-over-period comparisons were disclosed.

  • ·Filing includes Exhibit 99.1: Press release dated March 24, 2026.
  • ·Company address: 10800 Galaxie Avenue, Ferndale, Michigan 48220.
  • ·Registrant is not an emerging growth company.
Benchmark 2020-B22 Mortgage Trust10-Kpositivemateriality 4/10

24-03-2026

The 10-K annual report for Benchmark 2020-B22 Mortgage Trust, filed March 24, 2026, assesses compliance with Regulation AB Rule 1122(d) servicing criteria by servicers including Midland and KeyBank. Most applicable criteria across general servicing, cash collection, investor remittances, and pool asset administration were performed directly or by responsible vendors, with no material non-compliance noted. However, numerous criteria are designated as N/A or not applicable due to the transaction structure, limiting the scope of assessment.

Braemar Hotels & Resorts Inc.8-Kpositivemateriality 6/10

24-03-2026

Braemar Hotels & Resorts Inc. announced on March 24, 2026, that its Board of Directors declared March 2026 dividends on its 5.5% Series B Cumulative Convertible Preferred Stock, 8.25% Series D Cumulative Preferred Stock, Series E Redeemable Preferred Stock, and Series M Redeemable Preferred Stock. As of February 28, 2026, the Company had 11,528,242 shares of Series E Redeemable Preferred Stock and 1,382,407 shares of Series M Redeemable Preferred Stock issued and outstanding.

Benchmark 2018-B7 Mortgage Trust10-Kpositivemateriality 4/10

24-03-2026

The 10-K annual report for Benchmark 2018-B7 Mortgage Trust, filed on March 24, 2026, contains compliance assertions under Regulation AB Item 1122 from servicers including KeyBank, PBLS1, and Green Loan Services LLC. These parties confirm adherence to most applicable servicing criteria for general servicing, cash collection, investor reporting, and pool asset administration, either directly or via responsible vendors, with certain criteria marked as N/A or not performed where inapplicable to their roles. No material instances of non-compliance or exceptions are disclosed.

JPMDB Commercial Mortgage Securities Trust 2019-COR610-Kneutralmateriality 4/10

24-03-2026

The 10-K annual report for JPMDB Commercial Mortgage Securities Trust 2019-COR6 assesses compliance with Regulation AB Item 1122 servicing criteria by Midland, CoreLogic, and other servicers. Applicable criteria were generally performed directly or via responsible vendors, with many others deemed N/A and no material non-compliance noted. The filing confirms adherence to transaction agreements across cash collection, investor reporting, and pool asset administration without highlighting any deficiencies.

  • ·Filing date: March 24, 2026
  • ·Multiple servicing criteria marked as N/A (e.g., back-up servicer requirements, investor remittances)
  • ·Timeframes referenced include deposits/postings within 2 business days, reconciliations within 30 days, and resolution of reconciling items within 90 days
ESTEE LAUDER COMPANIES INC8-Kneutralmateriality 9/10

24-03-2026

The Estée Lauder Companies Inc. confirmed it is in discussions regarding a potential business combination with Puig, under which the two companies would merge their businesses. No final decision has been made and no agreement has been reached, with no assurances regarding any deal or its terms. The announcement was made via a press release issued on March 23, 2026.

  • ·Filing date: March 24, 2026
  • ·Date of earliest event reported: March 23, 2026
  • ·Principal executive offices: 767 Fifth Avenue, New York, New York 10153
Benchmark 2020-B16 Mortgage Trust10-Kneutralmateriality 3/10

24-03-2026

The 10-K annual report for Benchmark 2020-B16 Mortgage Trust, filed March 24, 2026, contains Regulation AB 1122(d) servicing criteria compliance assessments by multiple servicers including Midland, Special Servicer, PBLS, and KeyBank. Across sections, most applicable criteria are reported as performed directly by the servicer or by vendors for which they are responsible, while others are designated N/A or inapplicable with no disclosed non-compliance exceptions. No financial performance metrics, delinquencies, or servicer changes are detailed.

CF 2019-CF3 Mortgage Trust10-Kneutralmateriality 4/10

24-03-2026

The 10-K annual report for CF 2019-CF3 Mortgage Trust details compliance assertions by servicers Midland, K-Star, PBLS, KeyBank, and the Asserting Party with Regulation AB servicing criteria (Item 1122) for the reporting period. Midland and KeyBank affirm compliance with most criteria directly or via responsible vendors, while K-Star and PBLS mark numerous criteria as not performed by them or their subservicers, reflecting their limited roles. No material non-compliance or exceptions are explicitly reported.

  • ·Filing date: March 24, 2026
  • ·Compliance assessed throughout the reporting period (exact period not specified)
  • ·Standard timeframes referenced: 2 business days for deposits/postings, 30 calendar days for reconciliations/escrow returns, 90 calendar days for reconciling items
INTEL CORPDEFR14Apositivemateriality 9/10

24-03-2026

Intel's revised 2026 Proxy Statement solicits votes for the May 13, 2026 Annual Meeting, including election of 11 directors amid Board refreshment with four new independent directors added since 2024 and Frank D. Yeary stepping down as Chair after 17 years, succeeded by Craig H. Barratt. It highlights progress under new CEO Lip-Bu Tan in the 'Reinventing Intel' initiative, including advancements on Intel 18A and 14A processes and improved operational discipline. Proposals include ratifying EY as auditors, advisory vote on executive compensation, amendments to equity incentive and ESPP plans, and three stockholder proposals on China risk, human rights due diligence, and separating Chair/CEO roles.

  • ·Annual Meeting date: May 13, 2026 at 9:00 A.M. Pacific Time (virtual)
  • ·Record date: March 16, 2026
  • ·Craig H. Barratt appointed independent director in November 2025
  • ·Frank D. Yeary served 17 years on Board, 3 as Chair
JPMCC Commercial Mortgage Securities Trust 2017-JP610-Kpositivemateriality 3/10

24-03-2026

The 10-K annual report for JPMCC Commercial Mortgage Securities Trust 2017-JP6, filed on March 24, 2026, details compliance assessments for servicing criteria under Regulation AB Item 1122 by servicer Midland and other asserting parties. Most applicable criteria across general servicing, cash collection, investor reporting, and pool asset administration are affirmed as performed directly (marked X) or by responsible vendors, with no material non-compliance noted. Several criteria are designated as N/A, inapplicable, or not performed by the asserting party, which is typical for structured ABS transactions.

Benchmark 2019-B10 Mortgage Trust10-Kneutralmateriality 4/10

24-03-2026

The 10-K filing for Benchmark 2019-B10 Mortgage Trust includes assertions of compliance with Regulation AB Item 1122 servicing criteria by KeyBank, Midland, Special Servicer, and other parties, confirming that most applicable criteria were performed directly or via responsible vendors with no material deficiencies noted. Several criteria are marked as N/A or not applicable, particularly for investor reporting and remittances where responsibilities lie elsewhere. Overall, the report indicates standard operational compliance for the mortgage loan pool servicing.

  • ·Filing date: March 24, 2026
  • ·Compliance assessed for reporting period with timeframes such as 2 business days for deposits/postings, 30 calendar days for reconciliations/escrow returns, and 90 calendar days for reconciling items
FS KKR Capital Corp8-Kneutralmateriality 4/10

24-03-2026

FS KKR Capital Corp disclosed under Regulation FD that updated investor presentations will be made available on its website (www.fskkrcapitalcorp.com) before market open on March 24, 2026, under the 'Events & Presentations' page in the 'For Investors' section. The company stated it has no duty to update or revise the information except as required by federal securities laws. Forward-looking statements in the filing are subject to risks and uncertainties outlined in SEC filings.

QuidelOrtho Corp8-Kpositivemateriality 7/10

24-03-2026

QuidelOrtho Corporation (Nasdaq: QDEL) appointed Nathaniel 'Nate' Sisitsky as Chief Legal Officer effective March 23, 2026, succeeding Michelle Hodges who is retiring after strengthening the company's legal and governance capabilities. Sisitsky, with over 25 years of experience including prior CLO roles at STAAR Surgical, NuVasive, and CareFusion, will report to President and CEO Brian Blaser and lead global legal, compliance, and governance functions. Hodges will serve in an advisory role for a smooth transition.

  • ·Mr. Sisitsky began his legal career at Wilmer Cutler Pickering Hale and Dorr LLP and holds a Juris Doctor from New York University School of Law and a Bachelor of Arts in Political Science and Economics from Emory University.
  • ·Investor contact: IR@QuidelOrtho.com; Media contact: media@QuidelOrtho.com
Cadeler A/S20-Fmixedmateriality 9/10

24-03-2026

Cadeler A/S reported robust FY2025 results with profit more than quadrupling 330% YoY to €280.2M from €65.1M and Adjusted EBITDA surging 238% YoY to €425.4M from €126.0M, driven by €490M revenue from time charter and transportation/installation activities. Operating cash flow nearly quadrupled to €394.2M from €93.1M, boosting cash to €151.7M from €51.3M. However, net total financial indebtedness ballooned to €1.46B from €520M due to €1.26B investing outflows and increased non-current debt to €1.49B from €540M.

  • ·Net cash from financing activities increased to €967.7M in 2025 from €482.0M in 2024.
  • ·Cash and cash equivalents at Dec 31, 2023: €96.6M; Net total financial indebtedness at Dec 31, 2023: €109.0M.
  • ·Revenue recognition for €490M involves judgment on performance obligations under IFRS 15 and IFRS 16, flagged as critical audit matter.
Thermon Group Holdings, Inc.425positivemateriality 9/10

24-03-2026

CECO Environmental Corp. and Thermon Group Holdings, Inc. discussed their merger at the 38th Annual ROTH Conference on March 24, 2026, highlighting strategic synergies in operational footprints (e.g., Korea, China), commercial cross-selling in power markets with GE Vernova and Siemens, and Thermon's Genesis controls platform. Thermon has diversified from 65% oil & gas revenues 11 years ago to 28-30% today (with only 2% upstream CapEx), achieving 9% adjusted topline growth since 2017 and shifting to 83% OpEx/recurring revenues, positioning the combined entity for double-digit growth and 20%+ EBITDA margins. CECO's $6.5B sales pipeline offers millions in immediate Thermon product opportunities like heat tracing and immersion heaters.

  • ·Thermon backlog and engineering at record high.
  • ·Thermon customers' CapEx spending up 26% this year, expected to continue.
  • ·Combined entity described as Rule of 30/40 company (double-digit growth + 20%+ EBITDA margins).
TELA Bio, Inc.8-Kneutralmateriality 7/10

24-03-2026

TELA Bio, Inc. filed an 8-K on 2026-03-24 disclosing Results of Operations and Financial Condition under Item 2.02, Regulation FD Disclosure under Item 7.01, and Financial Statements and Exhibits under Item 9.01. This is a multi-item filing related to financial results announcement. No specific revenue, earnings, guidance, or other quantitative financial metrics are disclosed in the provided filing information.

  • ·Filing Accession Number: 0001104659-26-033839
  • ·File Size: 4 MB
  • ·Sector: NOT_DISCLOSED
Montrose Environmental Group, Inc.DEF 14Aneutralmateriality 6/10

24-03-2026

Montrose Environmental Group, Inc. (MEG) filed its DEF 14A Proxy Statement on March 24, 2026, for the virtual Annual Meeting on May 6, 2026, at 11:30 AM CT, with a record date of March 12, 2026. Stockholders are asked to vote on electing three directors (Vincent P. Colman, Peter M. Graham, Richard E. Perlman), ratifying Deloitte & Touche LLP as auditors for FY ending December 31, 2026, and approving NEO compensation on an advisory basis. Proxy materials were made available via internet notice around March 24, 2026.

  • ·Annual Meeting location: Online via live webcast at www.proxydocs.com/MEG
  • ·Company address: 5120 Northshore Drive, North Little Rock, AR 72118
  • ·Phone: (501) 900-6400
  • ·Website: montrose-env.com
CFCRE 2016-C4 Mortgage Trust10-Kneutralmateriality 3/10

24-03-2026

The 10-K annual report for CFCRE 2016-C4 Mortgage Trust, filed on March 24, 2026, includes multiple appendices and exhibits asserting compliance with Regulation AB servicing criteria (1122(d)(1)(i) through 1122(d)(2)(vii)) for general servicing considerations and cash collection/administration. Various parties, including the Company, CoreLogic, PBLS, and CWCAM, mark criteria as performed directly, by vendors, applicable, or inapplicable, with no exceptions or non-compliance noted. No financial performance metrics, advances, or quantitative discrepancies are reported.

  • ·Filing covers compliance assertions for servicing criteria including monitoring triggers/events of default, custodial accounts at federally insured institutions, monthly reconciliations within 30 days, and safeguarding unissued checks.
PORTLAND GENERAL ELECTRIC CO /OR/8-Kpositivemateriality 8/10

24-03-2026

Portland General Electric Company entered into a $350M term loan Credit Agreement on March 23, 2026, with U.S. Bank National Association as administrative agent and CoBank, ACB and Mizuho Bank, Ltd. as co-syndication agents. The Aggregate Commitment totals $350M. No performance declines or flat metrics are reported as this pertains to a new financing facility.

  • ·CUSIP (Deal): 73651GAZ6
  • ·CUSIP (Term Loans): 73651GBA0
  • ·Applicable Margin: 1.10% for Term SOFR Loans; 0.10% for Base Rate Loans
Raphael Pharmaceutical Inc.8-Kneutralmateriality 4/10

24-03-2026

Raphael Pharmaceutical Inc. reported that Dr. Yehuda Eliya's term as a member of the Board of Directors expired on December 31, 2025, after which he ceased serving as a director. The departure was not related to any disagreement with the Company regarding operations, policies, or practices. No new director election or officer appointment was disclosed.

  • ·8-K filed on March 24, 2026, reporting event from December 31, 2025.
  • ·Company's principal executive offices: 4 Lui Paster, Tel Aviv-Jaffa, Israel 6803605; phone: +972 52 775 5072.
KRONOS WORLDWIDE INCDEF 14Aneutralmateriality 6/10

24-03-2026

Kronos Worldwide, Inc. has issued its definitive proxy statement for the 2026 annual meeting of stockholders on May 13, 2026, at 10:00 a.m. in Dallas, Texas, to elect eight director nominees and approve on a non-binding advisory basis the named executive officer compensation (Say-on-Pay). The record date is March 17, 2026, with 115,053,116 shares of common stock outstanding. Stockholders are encouraged to vote via internet, phone, mail, or in person, with proxy materials available at www.envisionreports.com/KRO.

  • ·Annual meeting location: Three Lincoln Centre Conference Center, 5430 LBJ Freeway, Suite 350, Dallas, Texas 75240-2620.
  • ·Proxy materials distribution begins on or about March 31, 2026.
  • ·Stockholder list available for examination 10 days prior to meeting at corporate offices: Three Lincoln Centre, 5430 LBJ Freeway, Suite 1700, Dallas, Texas 75240-2620.
  • ·Controlled company status with significant ownership by related entities including NLKW, Valhi, and Contran.
Select Water Solutions, Inc.DEFA14Aneutralmateriality 7/10

24-03-2026

Select Water Solutions, Inc. issued definitive additional proxy materials (DEFA14A) for its 2026 Annual Meeting on May 7, 2026, at 1:00 PM CT in Gainesville, TX. Shareholders are to vote on electing seven director nominees (Gayle L. Burleson, Richard A. Burnett, Bruce E. Cope, Luis Fernandez-Moreno, Robin H. Fielder, Timothy A. Roberts, and John D. Schmitz), ratifying Grant Thornton LLP as independent auditors for fiscal year 2026, and an advisory vote approving Named Executive Officer compensation, with the board recommending 'For' all items. No financial performance data or period comparisons are provided in the materials.

  • ·Filing date: March 24, 2026
  • ·Vote deadline: May 6, 2026, 11:59 PM ET
  • ·Materials request deadline: April 23, 2026
  • ·Meeting address: 1820 N. I-35, Gainesville, TX 76240
Select Water Solutions, Inc.DEF 14Apositivemateriality 7/10

24-03-2026

Select Water Solutions, Inc. (WTTR) issued its 2026 Proxy Statement for the Annual Meeting on May 7, 2026, proposing the election of seven director nominees (following Douglas J. Wall's decision not to stand for re-election), ratification of Grant Thornton LLP as auditors for fiscal 2026, and an advisory vote on NEO compensation. The Company highlighted 2025 segment revenues of $313M for Water Infrastructure, $787M for Water Services, and $308M for Chemical Technologies (up 19% YoY), with Water Infrastructure boasting 2.4M bbl/day recycling capacity, 2.3M bbl/day disposal capacity, and 35M bbl storage as of December 31, 2025. No declines or flat performance were reported across segments.

  • ·Annual Meeting record date: March 10, 2026
  • ·Proxy materials mailing commenced on or about March 24, 2026
  • ·Board has majority independent directors (6 out of 8 current, transitioning to 6 out of 7 nominees)
  • ·Average director tenure: 3.25 years
MOOG INC.8-Kmixedmateriality 9/10

24-03-2026

Moog Inc. completed the issuance of $500M aggregate principal amount of 5.500% senior notes due October 15, 2034, pursuant to an indenture with Truist Bank as trustee, paying interest semiannually commencing October 15, 2026. The proceeds satisfy the condition for redeeming all $500M of its outstanding 4.250% senior notes due 2027, with redemption set for April 3, 2026, at 100% of principal plus approximately $6.4M accrued interest. This refinancing extends maturity by seven years but raises the interest rate from 4.25% to 5.50%, potentially increasing interest expense.

  • ·Redemption notice for 2027 Notes issued March 4, 2026.
  • ·New notes redeemable prior to April 15, 2029, at 100% principal plus make-whole premium or up to 40% at 105.500% using equity proceeds.
  • ·Indenture covenants restrict liens, sale-leasebacks, and mergers/consolidations, subject to exceptions.
GS Mortgage Securities Trust 2015-GC3410-Kneutralmateriality 4/10

24-03-2026

The 10-K filing for GS Mortgage Securities Trust 2015-GC34 includes management's assertions on compliance with Regulation AB servicing criteria (Item 1122(d)), with most criteria such as monitoring triggers, custodial account maintenance, and fidelity bonds marked as performed directly by the company or asserting party. Some criteria, including back-up servicer maintenance and certain cash collection procedures, are noted as inapplicable or not performed. CoreLogic provides separate assertions confirming compliance for select criteria like fidelity bonds and disbursements, while listing applicability for numerous student loan and credit card trusts.

  • ·Filing date: March 24, 2026
  • ·Specific inapplicable/not performed criteria include 1122(d)(1)(iii) (back-up servicer), 1122(d)(2)(vii) (reconciliations for Platforms A and B), and several cash collection criteria for CoreLogic
Morgan Stanley Bank of America Merrill Lynch Trust 2016-C3010-Kneutralmateriality 4/10

24-03-2026

The 10-K annual report for Morgan Stanley Bank of America Merrill Lynch Trust 2016-C30 includes Appendix B, which provides servicing criteria compliance assertions under Regulation AB 1122(d) by multiple servicers and vendors. Various parties assert that applicable criteria related to general servicing, cash collection, investor reporting, and pool asset administration are performed directly or via responsible vendors, while others are marked as inapplicable or not performed, such as back-up servicer maintenance and certain investor remittance details. No exceptions, material weaknesses, or quantitative performance issues are disclosed.

ECA Marcellus Trust I10-Kmixedmateriality 7/10

24-03-2026

ECA Marcellus Trust I's royalty income surged 73% YoY to $3.8M in 2025 from $2.2M in 2024, boosting distributable income to $2.2M ($0.128 per unit) from $0.8M ($0.045 per unit) and improving the standardized measure of discounted future net cash flows to $17,576 from $9,689. However, net royalty interest declined 11% to $9.1M from $10.3M, proved natural gas reserves fell 4% to 14,944 MMcf from 15,548 MMcf, and trust corpus decreased 5% to $12.7M from $13.4M. Total assets slightly dipped to $13.3M from $13.7M amid ongoing amortization.

  • ·No impairment charge recorded in 2025 or 2024.
  • ·General and administrative expense decreased to $1.2M from $1.2M (5% decline).
  • ·Cash reserves withheld by Trustee: $360,000 in 2025 vs $168K in 2024.
  • ·Amortization of royalty interest: $1.1M in both years (flat).
Montrose Environmental Group, Inc.DEFA14Aneutralmateriality 6/10

24-03-2026

Montrose Environmental Group, Inc. (MEG) filed a DEFA14A proxy statement for its annual stockholder meeting on May 6, 2026, with a record date of March 12, 2026. Proposal 1 seeks to elect three Class I directors—Vincent P. Colman, Peter M. Graham, and Richard E. Perlman—to serve until the 2027 annual meeting. Proposals 2 and 3 involve ratifying Deloitte & Touche LLP as the independent auditor for the fiscal year ending December 31, 2026, and approving named executive officer compensation on a non-binding advisory basis, with the board recommending a FOR vote on all.

  • ·Filing date: March 24, 2026
  • ·Directors to hold office until 2027 annual meeting or until successors are elected
G III APPAREL GROUP LTD /DE/10-Kmixedmateriality 10/10

24-03-2026

G-III Apparel Group's FY2026 net sales declined 7% YoY to $2.96B from $3.18B, with gross profit dropping 10% to $1.16B (margin 39.4% vs 40.8%) and operating profit plunging 63% to $108M due to $49M in asset impairments (up from $8M). While Karl Lagerfeld sales grew 9% YoY to $630M, DKNY sales fell 4% to $650M, and net income decreased 65% to $67M. International sales were $672M or 23% of total net sales.

  • ·Calvin Klein licenses expire staggered starting Dec 31, 2024 through 2027; Tommy Hilfiger starting Dec 31, 2025 through 2027.
  • ·Upcoming license expirations in FY2026: Dec 31, 2025 ($436M or 15% of net sales), Dec 31, 2026 ($372M or 13%), Dec 31, 2027 ($19M or 1%).
  • ·DKNY founded 1989, acquired by G-III 2016; Karl Lagerfeld full acquisition 2022 (North America launch 2015).
  • ·By FY2020, Calvin Klein licensed products exceeded $1B annual net sales; Tommy Hilfiger $500M.
CELESTICA INC8-Kpositivemateriality 7/10

24-03-2026

Celestica Inc. announced Michael Wilson's retirement as Board Chair effective immediately prior to the May 19, 2026 Annual Meeting, with Rob Mionis, current President and CEO, succeeding as Chair and Laurette Koellner appointed as Lead Independent Director. David Reeder, President and CEO of Entegris, Inc., will join the Board effective May 1, 2026, bringing expertise in semiconductors and finance. These changes are described as ensuring strong, unified leadership with independent oversight, maintaining the Board's nine members post-Annual Meeting.

  • ·Michael Wilson served as Chair since 2011 and as a Board member since retiring as CEO.
  • ·Rob Mionis has been a Board member since 2015.
  • ·David Reeder oversaw GlobalFoundries' IPO in 2021 and served on Alphawave IP Group plc board from 2023-2025.
Morgan Stanley Capital I Trust 2016-UBS1210-Kneutralmateriality 4/10

24-03-2026

The 10-K filing for Morgan Stanley Capital I Trust 2016-UBS12 details servicing compliance assertions under Regulation AB Item 1122(d) by multiple parties including Midland, PBLS, CoreLogic, and others, confirming adherence to most general servicing, cash collection, investor reporting, and pool asset administration criteria either directly or via responsible vendors. Several criteria are marked as N/A or inapplicable, such as back-up servicer requirements and certain investor remittance procedures, with no material non-compliance noted. This annual compliance report provides assurance on servicing practices without quantitative performance metrics or identified deficiencies.

  • ·Multiple servicing criteria marked N/A or inapplicable, including 1122(d)(1)(iii) back-up servicer maintenance and various investor remittance criteria like 1122(d)(3)(ii)-(iv).
KRONOS WORLDWIDE INCDEFA14Aneutralmateriality 6/10

24-03-2026

Kronos Worldwide, Inc. issued definitive additional proxy materials (DEFA14A) for its Annual Meeting of Stockholders on May 13, 2026, at 10:00 a.m. CT in Dallas, Texas. Key proposals include the election of eight director nominees, all recommended by the Board, and a nonbinding advisory vote on named executive officer compensation. Shareholders must vote online by 11:59 p.m. ET on May 12, 2026, or request paper copies by April 29, 2026.

  • ·Annual Meeting location: Three Lincoln Centre Conference Center, 5430 LBJ Freeway, Suite 350, Dallas, Texas 75240-2620
  • ·Online voting and materials access: www.envisionreports.com/KRO
  • ·Proxy materials request deadline: April 29, 2026
  • ·Proposal 3: Proxies authorized to vote on other business at discretion
Morgan Stanley Capital I Trust 2018-H410-Kpositivemateriality 4/10

24-03-2026

The 10-K annual report for Morgan Stanley Capital I Trust 2018-H4, filed March 24, 2026, asserts compliance by multiple servicers (Midland, Special Servicer, PBLS, KeyBank, and the Company) with Regulation AB Rule 1122(d) servicing criteria across categories like general servicing, cash collection, investor reporting, and pool asset administration. Most applicable criteria are marked as performed directly or by responsible vendors, with no material deficiencies noted; several are designated N/A or inapplicable depending on the servicer's role. No financial performance metrics, declines, or non-compliance issues are reported.

Velo3D, Inc.8-Kmixedmateriality 8/10

24-03-2026

Velo3D reported FY 2025 revenue of $46M, up 12% YoY from $41M, driven by 54% growth in 3D printer and parts revenue, record Q4 bookings, and a $31M backlog, while securing $32.6M and $11.5M defense contracts. However, Q4 revenue declined 25% YoY to $9.4M with 3D printer revenue down 5%, gross margins deteriorated sharply to -73.6% from -3.5% due to $7M inventory write-down, and FY gross margin worsened to -16.1% from -5.1%. The company raised $30M in equity and converted $15M debt to equity (reducing debt ~60%), ended with $39M cash (up from $1.2M), and guides for $60-70M revenue in 2026 with EBITDA positive in H2.

  • ·Non-GAAP net loss FY 2025: $41.3M (improved from $79.4M in 2024)
  • ·Operating expenses FY 2025: $47.5M (down from $76.8M in 2024)
  • ·2026 guidance: Non-GAAP OpEx $45-55M, CapEx $40-50M
  • ·Adjusted EBITDA FY 2025: -$33.3M (improved from -$58.5M in 2024)
Morgan Stanley Bank of America Merrill Lynch Trust 2013-C910-Kmixedmateriality 5/10

24-03-2026

The 10-K filing for Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9, dated March 24, 2026, contains servicing compliance assertions from Midland, the Asserting Party, and Berkadia under Rule 1122(d). Most servicing criteria across general servicing, cash collection, investor reporting, and pool asset administration are affirmed as performed directly or by responsible vendors, demonstrating strong overall compliance. However, several criteria are marked N/A (e.g., back-up servicer requirements, certain investor reporting) or not performed by specific parties (e.g., loss mitigation by Berkadia), with handling shifted to non-responsible subservicers.

  • ·Compliance assertions cover the reporting period ending prior to March 24, 2026.
  • ·Standard timeframes referenced include deposits/postings within 2 business days, reconciliations within 30 calendar days, and resolution of reconciling items within 90 calendar days.
  • ·N/A criteria include 1122(d)(1)(iii) back-up servicer (all parties), multiple investor remittance criteria for Asserting Party, and external enhancements 1122(d)(4)(xv).
Morgan Stanley Capital I Trust 2015-UBS810-Kneutralmateriality 4/10

24-03-2026

The 10-K annual report for Morgan Stanley Capital I Trust 2015-UBS8 details compliance assessments for Regulation AB servicing criteria (Item 1122) by servicers including Midland, PBLS, CoreLogic, and others. Applicable criteria are affirmed as performed directly or by responsible vendors, while many investor reporting, remittances, and certain pool administration criteria are marked N/A or not performed by specific parties. No material servicing deficiencies, defaults, or non-compliance issues are reported.

  • ·Multiple servicing criteria marked N/A, including back-up servicer maintenance (1122(d)(1)(iii)), certain investor reporting sub-items (1122(d)(3)(i)(B)-(D)), remittances (1122(d)(3)(ii)-(iv)), and external enhancements (1122(d)(4)(xv)).
  • ·Filing date: March 24, 2026
XCel Brands, Inc.8-Kneutralmateriality 7/10

24-03-2026

XCel Brands, Inc. entered into a Sixth Amendment to its Loan and Security Agreement on March 20, 2026, authorizing the agent to transfer up to $500,000 from the Blocked Account as cash collateral to secure obligations, with the agent having discretion to apply it to Term Loan A or return it. The amendment reduces the Minimum Liquid Assets covenant to $500,000 (minus any applied collateral) prior to full repayment of First Out Obligations, dropping to $0 thereafter. The Borrower is required to consummate a Specified Asset Sale or Refinancing Alternative and repay First Out Obligations in full by March 24, 2026.

  • ·Effectiveness subject to receipt of signed counterparts and payment of fees/costs/expenses.
  • ·No Default or Event of Default existing as of Sixth Amendment Effective Date.
  • ·Credit Parties release all claims against Agent and Lenders up to the amendment date.
IRON MOUNTAIN INCDEFA14Aneutralmateriality 2/10

24-03-2026

Iron Mountain Incorporated filed Definitive Additional Proxy Materials (DEFA14A) on March 24, 2026, pursuant to Section 14(a) of the Securities Exchange Act of 1934. The filing was made by the registrant with no fee required. No specific financial data, proposals, or other substantive details are provided in the filing header.

  • ·Filing Type: DEFA14A (Definitive Additional Materials)
  • ·☑ Filed by the Registrant
ASBURY AUTOMOTIVE GROUP INCDEF 14Aneutralmateriality 7/10

24-03-2026

Asbury Automotive Group, Inc. (ABG) filed its DEF 14A proxy statement for the 2026 Annual Meeting on May 4, 2026, proposing the election of eleven directors, advisory approval of 2025 named executive officer compensation, ratification of Ernst & Young LLP as auditors for the year ending December 31, 2026, and amendment of the Charter to eliminate supermajority voting requirements. The Board recommends voting FOR Proposals 1-4 but AGAINST the stockholder proposal (Proposal 5) on special stockholder meetings. As of the March 18, 2026 record date, 19,295,721 shares of common stock were outstanding, requiring a quorum of at least 9,647,861 shares.

  • ·2026 Annual Meeting location: 6655 Peachtree Dunwoody Road, Atlanta, GA 30328 at 12:00 p.m. Eastern Time
  • ·Record date: March 18, 2026 at 5:00 p.m. Eastern Time
Morgan Stanley Bank of America Merrill Lynch Trust 2017-C3310-Kneutralmateriality 3/10

24-03-2026

The 10-K annual report for Morgan Stanley Bank of America Merrill Lynch Trust 2017-C33, filed on March 24, 2026, includes Appendix B assessing compliance with Regulation AB Rule 1122(d) servicing criteria. Multiple servicers, including the primary servicer, Midland, PBLS1, KeyBank, and CoreLogic, confirm that most applicable criteria across general servicing, cash collection, investor reporting, and pool asset administration are performed directly or by responsible vendors, while several investor remittance and reporting criteria are marked as N/A or not performed by certain parties. No material deficiencies, exceptions, or servicer changes are disclosed.

Bright Mountain Media, Inc.8-Kmixedmateriality 9/10

24-03-2026

Bright Mountain Media reported full-year 2025 revenue of $59.2 million, up 4% or $2.5 million YoY from $56.7 million, primarily driven by advertising technology growth, though partially offset by declines in media services. Q4 2025 revenue declined 8% to $15.7 million from $17.1 million amid industry challenges and cautious advertiser spending, with gross margin down 23% to $4.2 million. Net losses improved to $13.5 million for FY 2025 (down 21% YoY) and $3.3 million for Q4 (down 13% YoY), while Adjusted EBITDA rose 278% to $3.0 million for the year but fell to $1.1 million in Q4.

  • ·FY 2025 segment revenues: advertising technology $21.7M, consumer insights $26.6M, creative services $8.5M, digital publishing $1.5M, media services $0.988M.
  • ·Q4 2025 segment revenues: advertising technology $7.3M, consumer insights $5.9M, creative services $1.3M, digital publishing $0.26M, media services $0.967M.
  • ·Cash and equivalents down to $1.4M from $2.5M at Dec 31, 2024; accounts receivable up to $16.3M from $15.0M.
  • ·Current liabilities surged to $116.2M from $33.8M, driven by $84.3M current note payable (Centre Lane Senior Secured Credit Facility).
  • ·Impairment of goodwill and intangibles: $786K in Q4 and FY 2025.
IRON MOUNTAIN INCDEF 14Aneutralmateriality 6/10

24-03-2026

Iron Mountain Incorporated's DEF 14A Proxy Statement, filed March 24, 2026, details the virtual 2026 Annual Meeting on May 7, 2026, at 9:00 a.m. ET, for electing directors, advisory approval of Named Executive Officer compensation, and ratifying Deloitte & Touche LLP as independent auditors for the fiscal year ending December 31, 2026. The record date is March 9, 2026, with 297,478,817 common shares outstanding. No performance metrics or period-over-period changes are detailed in the provided content.

  • ·Virtual Annual Meeting accessible at https://www.virtualshareholdermeeting.com/IRM2026
  • ·Record date: March 9, 2026 (close of business, 5:00 p.m. ET)
  • ·Paper proxy card request deadline: April 23, 2026
  • ·Company founded: 1951; Public since: 1996
New Mountain Guardian IV BDC, L.L.C.8-Kneutralmateriality 7/10

24-03-2026

On March 19, 2026, the Board of Directors of New Mountain Guardian IV BDC, L.L.C. accepted the resignation of Kris Corbett as Chief Financial Officer and Treasurer, effective upon completion of a prudent transition expected by May 29, 2026. Mr. Corbett will continue serving in his role until the effective date, with no expressed disagreements on the Company's operations, policies, or practices. The filing was made on March 24, 2026.

  • ·The Company is an emerging growth company.
  • ·Entity Tax Identification Number: 88-1377220.
  • ·Incorporated in Delaware.
Bright Mountain Media, Inc.10-Kmixedmateriality 9/10

24-03-2026

Bright Mountain Media, Inc. reported FY2025 revenue of $59.2M, up 4% YoY from $56.7M, with Adjusted EBITDA improving sharply to $3.0M from $0.8M and net loss narrowing 21% to $13.5M from $17.0M, driven by a 23% reduction in G&A expenses. However, gross margin declined 4% to $15.8M amid an 8% rise in cost of revenue, and the balance sheet deteriorated with current liabilities surging to $116.2M from $33.8M, widening the net working capital deficit to $95.5M from $13.5M.

  • ·Cash flow from operating activities declined to $1.3M from $1.9M YoY.
  • ·Publisher costs within cost of revenue rose 22% to $15.1M.
  • ·Legal fees in G&A dropped 56% to $1.2M.
  • ·Interest expense slightly decreased 3% to $12.3M.
BTC Development Corp.10-Kneutralmateriality 5/10

24-03-2026

BTC Development Corp. (BDCIU), a special purpose acquisition company (SPAC), filed its 10-K annual report on March 24, 2026, covering the years ended December 31, 2025 and 2024, with no initial business combination completed to date. Key disclosures include sponsor compensation of $30,000 per month for services, 8,686,667 Class B ordinary shares issued for $25,000, and 512,500 placement units for $5.125M, alongside founder share lock-up restrictions until one year post-business combination or share price triggers. Financial statements are included comparing 2025 and 2024, but specific performance metrics show no growth or declines as no operational business exists yet.

  • ·Permitted withdrawals from trust account limited to interest earned, up to $400,000 annually for working capital and taxes (excluding excise taxes).
  • ·Founder shares subject to transfer restrictions until earliest of one year post-business combination or Class A share price >= $12.00 for 20 trading days in 30-day period starting 150 days after combination.
  • ·Sponsor and affiliates may receive finder's fees, advisory fees from funds outside trust account prior to business combination.
New Mountain Private Credit Fund8-Kneutralmateriality 7/10

24-03-2026

On March 19, 2026, the Board of Trustees of New Mountain Private Credit Fund accepted the resignation of Kris Corbett as Chief Financial Officer and Treasurer, effective upon completion of a transition to a successor by May 29, 2026. Mr. Corbett will remain in his role until the effective date and cited no disagreements with the company's operations, policies, or practices. No successor has been named yet.

New Mountain Guardian IV Income Fund, L.L.C.8-Kneutralmateriality 7/10

24-03-2026

On March 19, 2026, the Board of Directors of New Mountain Guardian IV Income Fund, L.L.C. accepted the resignation of Kris Corbett as Chief Financial Officer and Treasurer, effective upon completion of a prudent transition expected by May 29, 2026. Mr. Corbett will remain in his role until the effective date, with no expressed disagreements on company operations, policies, or practices.

  • ·Filing signed on March 24, 2026.
  • ·Company formerly known as New Mountain Guardian IV Unlevered BDC, L.L.C. (name change: May 5, 2023).
  • ·Company is an emerging growth company.
  • ·Headquartered at 1633 Broadway, 48th Floor, New York, NY 10019.
New Mountain Finance Corp8-Knegativemateriality 8/10

24-03-2026

New Mountain Finance Corp announced on March 19, 2026, the acceptance of Kris Corbett's resignation as Chief Financial Officer and Treasurer, effective upon completion of a transition to a successor by May 29, 2026. Mr. Corbett will continue in his role until the effective date and expressed no disagreements with the company's operations, policies, or practices. No successor has been named yet, potentially introducing short-term leadership uncertainty.

  • ·Filing submitted on March 24, 2026.
  • ·Company securities: Common stock (NMFC) and 8.250% Notes due 2028 (NMFCZ) listed on NASDAQ Global Select Market.
Morgan Stanley Capital I Trust 2017-H110-Kneutralmateriality 3/10

24-03-2026

The 10-K annual report for Morgan Stanley Capital I Trust 2017-H1, filed on March 24, 2026, contains Item 1122 assertions of compliance with servicing criteria by multiple parties including Midland, Special Servicer, the Company, CoreLogic, and Asserting Party. Across general servicing considerations, cash collection, investor remittances, and pool asset administration, most applicable criteria are confirmed as performed directly or by responsible vendors, while others are marked N/A, inapplicable, or not performed by the asserting party. No material noncompliance, exceptions, or performance issues are disclosed.

  • ·Compliance assertions cover the reporting period throughout which fidelity bonds and errors/omissions policies were in effect.
  • ·Reconciliations prepared monthly within 30 days, with items resolved within 90 days.
  • ·Certain criteria (e.g., 1122(d)(1)(iii), back-up servicer maintenance) marked N/A across multiple tables.
Kodiak Gas Services, Inc.8-Kneutralmateriality 9/10

24-03-2026

Kodiak Gas Services, LLC issued $1B aggregate principal amount of 5.875% senior unsecured notes due April 1, 2031, on March 20, 2026, pursuant to an indenture with U.S. Bank Trust Company, National Association as trustee, guaranteed by Kodiak Gas Services, Inc. and certain subsidiaries. Interest is payable semi-annually starting October 1, 2026. The indenture imposes covenants restricting dividends, investments, additional debt, liens, asset sales, mergers, and affiliate transactions, with optional redemption provisions (including make-whole prior to April 1, 2028, and fixed premiums thereafter) and change of control repurchase at 101%.

  • ·Notes redeemable prior to April 1, 2028 at 100% principal plus make-whole premium.
  • ·Equity offering redemption limited to 40% of aggregate principal with at least 50% remaining outstanding.
  • ·Covenants terminate if Notes achieve investment grade from two of Moody’s, S&P, Fitch with no default.
  • ·Events of default include 30-day interest payment default, principal default, covenant breaches, cross-defaults, and bankruptcy.
  • ·Holders of at least 30% of outstanding Notes can accelerate upon default.

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