Resources Connection, Inc. Files 2024 10-K

TL;DR

RGP filed its 2024 10-K. Full financials and biz details inside.

AI Summary

Resources Connection, Inc. filed its 2024 10-K report for the fiscal year ending May 25, 2024. The filing details the company's financial performance and business operations. Key financial data and operational aspects are presented within this comprehensive annual report.

Why It Matters

This 10-K filing provides investors and stakeholders with a detailed overview of Resources Connection, Inc.'s financial health and strategic direction for the past fiscal year.

Risk Assessment

Risk Level: medium — This is a standard annual financial filing with no immediate red flags or significant new risks highlighted in the provided snippet.

Key Numbers

• 2024-05-25 — Fiscal Year End (Marks the end of the reporting period.)
• 2024-07-22 — Filing Date (Date the 10-K was submitted to the SEC.)

Key Players & Entities

• Resources Connection, Inc. (company) — Filer of the 10-K
• 20240525 (date) — Fiscal year end date
• 20240722 (date) — Filing date
• 7144306400 (dollar_amount) — Business phone number

FAQ

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 per share RGP The Nasdaq Stock Market L

Filing Documents

• rgp-20240525.htm (10-K) — 1866KB
• exhibit1026-purchaseandsal.htm (EX-10.26) — 310KB
• exhibit1027-firstamendment.htm (EX-10.27) — 15KB
• exhibit191-insidertradingp.htm (EX-19.1) — 49KB
• exhibit211-listofsubsidiar.htm (EX-21.1) — 24KB
• exhibit231fy24consent.htm (EX-23.1) — 2KB
• rgp-20240525xex31_1.htm (EX-31.1) — 10KB
• rgp-20240525xex31_2.htm (EX-31.2) — 10KB
• rgp-20240525xex32_1.htm (EX-32.1) — 5KB
• rgp-20240525xex32_2.htm (EX-32.2) — 5KB
• exhibit971-policyregarding.htm (EX-97.1) — 15KB
• rgp-20240525_g1.jpg (GRAPHIC) — 67KB
• rgp-20240525_g2.jpg (GRAPHIC) — 109KB
• 0001084765-24-000089.txt ( ) — 10663KB
• rgp-20240525.xsd (EX-101.SCH) — 60KB
• rgp-20240525_cal.xml (EX-101.CAL) — 121KB
• rgp-20240525_def.xml (EX-101.DEF) — 299KB
• rgp-20240525_lab.xml (EX-101.LAB) — 836KB
• rgp-20240525_pre.xml (EX-101.PRE) — 628KB
• rgp-20240525_htm.xml (XML) — 1293KB

BUSINESS

BUSINESS 3 ITEM 1A.

RISK FACTORS

RISK FACTORS 13 ITEM 1B. UNRESOLVED STAFF COMMENTS 24 ITEM 1C. CYBERSECURITY 24 ITEM 2.

PROPERTIES

PROPERTIES 25 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 25 ITEM 4. MINE SAFETY DISCLOSURES 25 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 26 ITEM 6. RESERVED 28 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 28 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 45 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 46 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 81 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 81 ITEM 9B. OTHER INFORMATION 82 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 82 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 82 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 82 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 82 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 83 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 83 PART IV ITEM 15. EXHIBIT AND FINANCIAL STATEMENT SCHEDULES 84 ITEM 16. FORM 10-K SUMMARY 86

SIGNATURES

SIGNATURES 87 1 Table of Contents In this Annual Report on Form 10-K, "Resources Global Professionals," "Company," "we," "us" and "our" refer to the business of Resources Connection, Inc. and its subsidiaries. References in this Annual Report on Form 10-K to "fiscal," "year" or "fiscal year" refer to our fiscal year that consists of the 52- or 53-week period ending on the Saturday in May closest to May 31. The fiscal years ended May 25, 2024, May 27, 2023, and May 28, 2022 each consisted of 52 weeks.

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K, including information incorporated herein by reference, contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements relate to expectations concerning matters that are not historical facts. For example, statements discussing, among other things, expected costs, business strategies, growth strategies and initiatives, acquisition strategies, future revenues and future performance, are forward-looking statements. Such forward-looking statements may be identified by words such as "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "forecast," "future," "intends," "may," "plans," "potential," "predicts," "remain," "should," "strategy," or "target or s imilar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would," or the negative of these terms or other comparable terminology. In this Annual Report on Form 10-K, such statements include statements regarding our growth, operational and strategic plans. These statements, and all phases of our operations, are subject to known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity, performance or achievements and those of our industry to differ materially from those expressed or implied by these forward-looking statements, including those identified in Item 1A "Risk Factors" of this Annual Report on Form 10-K. The disclosures we make concerning risks, uncertainties and other factors that may affect our business or operating results, including those identified in Item 1A "Risk Factors" of this Annual Report on Form 10-K and our other public filings made with the Securities and Exchange Commission ("SEC"), should be reviewed carefully. Additional risks and uncertainties not presently

BUSINESS

ITEM 1. BUSINESS. Overview Resources Global Professionals ("RGP") is a global consulting firm based in Irvine, California (with offices worldwide) focused on delivering consulting services that power clients' operational needs and change initiatives utilizing a combination of bench and on-demand, expert and diverse talent. As a next-generation human capital partner for our clients, we specialize in co-delivery of enterprise initiatives typically precipitated by business transformation, strategic transactions or regulatory change. Our engagements are designed to leverage human connection and collaboration to deliver practical solutions and more impactful results that power our clients', employees' and partners' success. We attract top-caliber professionals with in-demand skill sets who seek a workplace environment characterized by choice and control, collaboration and human connection. The trends in today's marketplace favor flexibility and agility as businesses confront transformation pressures and skilled labor shortages even in the face of protracted economic uncertainty. Our client engagement and talent delivery model offer speed and agility, strongly positioning us to help our clients transform their businesses and workplaces. Our model is especially relevant at a time where cost reduction initiatives drive an enhanced reliance on a flexible workforce to execute transformational projects. We are laser-focused on driving long-term growth in our business by seizing favorable macro shifts in workforce strategies and preferences, building an efficient and scalable operating model, and maintaining a distinctive culture and approach to professional services. Our enterprise initiatives in recent years include refining the operating model for sales, talent and delivery to be more client-centric, cultivating a more robust performance culture by aligning incentives to business performance, building and commercializing our digital engagement platform, enhancing our

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View this 10-K filing on SEC EDGAR