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CTS CORP

For the period ended Dec 31, 2023. Filed Feb 23, 2024.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 23, 2024

CTS$60.50+4.5%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Table of Contents

CONTENTS

ITEM · PAGE
PART I
1.Business4
1A.Risk Factors9
1B.Unresolved Staff Comments19
1C.Cybersecurity19
2.Properties20
3.Legal Proceedings21
4.Mine Safety Disclosures21
PART II
5.Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities21
6.[Reserved]22
7.Management's Discussion and Analysis of Financial Condition and Results of Operations23
7A.Quantitative and Qualitative Disclosures About Market Risk29
8.Financial Statements and Supplementary Data31
9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure68
9A.Controls and Procedures68
9B.Other Information70
9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections70
PART III
10.Directors, Executive Officers and Corporate Governance70
11.Executive Compensation70
12.Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters71
13.Certain Relationships and Related Transactions, and Director Independence71
14.Principal Accountant Fees and Services71
PART IV
15.Exhibits and Financial Statements Schedules72
SIGNATURES74

CTS CORPORATION 2

Safe Harbor

Forward-Looking Statements

This document contains statements that are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, any financial or other guidance, statements that reflect our current expectations concerning future results and events, and any other statements that are not based solely on historical fact. Forward-looking statements are based on management’s expectations, certain assumptions, and currently available information. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are based on various assumptions as to future events, the occurrence of which necessarily are subject to uncertainties. These forward-looking statements are made subject to certain risks, uncertainties, and other factors, which could cause CTS’ actual results, performance, or achievements to differ materially from those presented in the forward-looking statements. Examples of factors that may affect future operating results and financial condition include, but are not limited to: supply chain disruptions; changes in the economy generally, including inflationary and/or recessionary conditions, and in respect to the business in which CTS operates; unanticipated issues in integrating acquisitions; the results of actions to reposition CTS’ business; rapid technological change; general market conditions in the transportation, as well as conditions in the industrial, aerospace and defense, and medical markets; reliance on key customers; unanticipated public health crises, natural disasters or other events; environmental compliance and remediation expenses; the ability to protect CTS’ intellectual property; pricing pressures and demand for CTS’ products; risks associated with CTS’ international operations, including trade and tariff barriers, exchange rates and political and geopolitical risks (including, without limitation, the potential impact U.S./China relations and the conflict between Russia and Ukraine may have on our business, results of operations and financial condition); the amount and timing of any share repurchases; and the effect of any cybersecurity incidents on our business. Many of these, and other risks and uncertainties, are discussed in further detail in Item 1A. of this Annual Report on Form 10-K and other filings made with the SEC. CTS undertakes no obligation to publicly update CTS’ forward-looking statements to reflect new information or events or circumstances that arise after the date hereof, including market or industry changes.

CTS CORPORATION 3

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.