Exponent Inc. Enters New Credit Agreement

TL;DR

Exponent Inc. just signed a new credit agreement, locking in financing.

AI Summary

On June 19, 2024, Exponent Inc. entered into a material definitive agreement, specifically a credit agreement, which creates a direct financial obligation for the company. This agreement is a significant financial event for Exponent Inc., as detailed in their 8-K filing.

Why It Matters

This filing indicates Exponent Inc. has secured new financing or restructured existing debt, which could impact its financial flexibility and future investment capabilities.

Risk Assessment

Risk Level: low — The filing reports on a standard financial agreement, not a significant negative event.

Key Players & Entities

• Exponent Inc. (company) — Registrant
• June 19, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share EXPO Nasdaq Global Select
• $1,009,000 — ted to make payments under the lease of $1,009,000 per year, which obligation will continu
• $6,183,000 — he lease will increase to approximately $6,183,000 per year for the 15-year extension term

Filing Documents

• expo-20240619.htm (8-K) — 41KB
• expo-ex10_1.htm (EX-10.1) — 23KB
• 0000950170-24-076817.txt ( ) — 174KB
• expo-20240619.xsd (EX-101.SCH) — 23KB
• expo-20240619_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On June 19, 2024, Exponent, Inc. (the "Company") received a fully executed and countersigned notice of election to extend its commercial land lease with the State of Arizona (the "Notice of Election"). Pursuant to the Notice of Election, the Company agreed to extend the lease for 15 years beginning on January 17, 2028. The Company is currently obligated to make payments under the lease of $1,009,000 per year, which obligation will continue at that level until January 16, 2028. Beginning on January 17, 2028, the Company's payments under the lease will increase to approximately $6,183,000 per year for the 15-year extension term with adjustments to the annual rent payment in 2033 and 2038 based on the consumer price index. The foregoing description of the Notice of Election is only a summary of the material terms, does not purport to be a complete description of the rights and obligations of the parties thereunder, and is qualified in its entirety by reference to the full text of the Notice of Election, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 of this Current Report on Form 8-K is hereby incorporated into this Item 2.03 by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit Number Description 10.1 Notice of Election to Extend Lease 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EXPONENT, INC. Date: June 24, 2024 By: /s/ Richard L. Schlenker Richard L. Schlenker Executive Vice President, Chief Financial Officer, and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR