Power Solutions International, Inc. Files Amendment to Annual Report

TL;DR

<b>Power Solutions International, Inc. has filed an amendment to its 2023 annual report on Form 10-K.</b>

AI Summary

POWER SOLUTIONS INTERNATIONAL, INC. (PSIX) filed a Amended Annual Report (10-K/A) with the SEC on April 29, 2024. This filing is an Amendment No. 1 to the Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The company is registered under the ticker PSIX and is incorporated in Delaware. The principal executive offices are located at 201 Mittel Drive, Wood Dale, IL 60191. The filing indicates that the company has filed all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days. Power Solutions International, Inc. is classified as a non-accelerated filer.

Why It Matters

For investors and stakeholders tracking POWER SOLUTIONS INTERNATIONAL, INC., this filing contains several important signals. This amendment suggests that there may be updates or corrections to the original 10-K filing, potentially impacting financial reporting or disclosures. As a non-accelerated filer, the company's reporting obligations and scrutiny may differ from larger, more actively traded companies.

Risk Assessment

Risk Level: low — POWER SOLUTIONS INTERNATIONAL, INC. shows low risk based on this filing. The filing is an amendment to a previous 10-K, indicating potential revisions to previously reported information, but does not introduce new material events or financial distress signals.

Analyst Insight

Review the specific changes made in Amendment No. 1 to the 10-K filing to understand any updated financial or operational disclosures.

Key Numbers

• 2023-12-31 — Fiscal Year End (Report Period)
• 2024-04-29 — Filing Date (Amendment Filing Date)
• 001-35944 — Commission File Number (SEC Registration)

Key Players & Entities

• POWER SOLUTIONS INTERNATIONAL, INC. (company) — Registrant Name
• PSIX (company) — Trading Symbol
• 201 Mittel Drive, Wood Dale, IL 60191 (company) — Business Address
• Delaware (company) — State of Incorporation
• 33-0963637 (company) — IRS Number
• December 31, 2023 (date) — Fiscal Year End
• Amendment No. 1 (document) — Filing Type
• 10-K/A (document) — Form Type

FAQ

Industry Context

Power Solutions International, Inc. operates in the engines and turbines industry.

Regulatory Implications

The company is subject to the reporting requirements of the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the specific amendments made in this 10-K/A filing.
2. Analyze any updated financial statements or disclosures provided in the amendment.
3. Monitor future filings for any further changes or updates from the company.

Year-Over-Year Comparison

This is an amendment to the previously filed 10-K for the fiscal year ended December 31, 2023.

Key Financial Figures

• $0.001 — ) of the Act: Common Stock, par value $0.001 per share Indicate by check mark if t
• $64.1 million — trant as of such date was approximately $64.1 million.) Shares of the registrant's Common Sto

Filing Documents

• d829358d10ka.htm (10-K/A) — 363KB
• d829358dex313.htm (EX-31.3) — 4KB
• d829358dex314.htm (EX-31.4) — 4KB
• g829358g0429184427130.jpg (GRAPHIC) — 3KB
• 0001193125-24-122743.txt (&nbsp;) — 625KB
• psix-20231231.xsd (EX-101.SCH) — 4KB
• psix-20231231_cal.xml (EX-101.CAL) — 1KB
• psix-20231231_def.xml (EX-101.DEF) — 16KB
• psix-20231231_lab.xml (EX-101.LAB) — 21KB
• psix-20231231_pre.xml (EX-101.PRE) — 18KB
• d829358d10ka_htm.xml (XML) — 8KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 1 PART III 2

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 2

Executive Compensation

Item 11. Executive Compensation 6

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 12

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 14

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 16 PART IV 17

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 17

Form 10-K Summary

Item 16. Form 10-K Summary 20

SIGNATURES

SIGNATURES 21 EXPLANATORY NOTE This Amendment No. 1 (this "Amendment") on Form 10-K/A amends the Annual Report on Form 10-K for the year ended December 31, 2023 of Power Solutions International, Inc. ("PSI" or the "Company") filed with the Securities and Exchange Commission (the "SEC") on March 14, 2024 (the "Original 10-K") to include the information required by Items 10 through 14 of Part III (the "Part III Disclosure") of the Original 10-K. This information was previously omitted from the Original 10-K in reliance on General Instruction G(3) to Form 10-K, which permits the information in the above referenced items to be incorporated in the Form 10-K by reference to the Company's definitive proxy statement if such statement is filed no later than 120 days after the Company's fiscal year-end. The information included herein as required by the Part III Disclosure is more limited than what is required to be included in the definitive proxy statement to be filed in connection with PSI's 2024 Annual Meeting of Stockholders. Accordingly, the definitive proxy statement to be filed at a later date will include additional information related to the topics herein and additional information not required by the Part III Disclosure. Pursuant to the SEC rules, Part IV, Item 15 has also been amended to contain the currently dated certificates from the Company's principal executive and financial officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. The certificates of the Company's principal executive and financial officers are attached to this Amendment as Exhibits 31.3 and 31.4. Because no financial statements have been included in this Amendment and this Amendment does not contain or amend any disclosure with respect to Items 307 and 308 of Regulation S-K, paragraphs 3, 4 and 5 of the certifications have been omitted. Additionally, PSI is not including the certificate under Section 906 of the Sarbanes-Oxley Act of 2002 as no financial statements are being

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Certain statements contained in this Amendment to the Annual Report on Form 10-K ("2023 Annual Report") that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may involve risks and uncertainties. These statements often include words such as "anticipate," "believe," "budgeted," "contemplate," "estimate," "expect," "forecast," "guidance," "may," "outlook," "plan," "projection," "should," "target," "will," "would" or similar expressions, but these words are not the exclusive means for identifying such statements. These forward-looking statements include statements subject to a number of risks, uncertainties and assumptions that may cause actual results, performance or achievements to differ materially from those expressed in, or implied by, such statements. The Company cautions that the risks, uncertainties and other factors that could cause its actual results to differ materially from those expressed in, or implied by, the forward-looking statements include, without limitation; the factors discussed in Item 1A. Risk Factors in the Original 10-K; the impact of the macro-economic environment in both the U.S. and internationally on our business and expectations regarding growth of the industry; uncertainties arising from global events (including the Russia-Ukraine and Israel-Hamas conflicts), natural disasters or pandemics, and their impact on material prices; the effects of strategic investments on our operations, including our efforts to expand our global market share and actions taken to increase sales growth; the ability to develop and successfully launch new products; labor costs and other employment-related costs; loss of suppliers and disruptions in the supply of raw materials; the Company's ability to continue as a going concern; the Company's ability to raise

View Full Filing

View this 10-K/A filing on SEC EDGAR