Risk-factor diff
FY 2025 10-K vs. FY 2024+51 new−40 removed
Net-new paragraphs in the most recent 10-K's Item 1A. Companies rarely add risk language without a real reason — additions here are often a leading signal of management concerns.
NEW · FY 2025
“funded through federal block grants, absent federal legislative action,”
NEW · FY 2025
“affecting Puerto Rico consumers and businesses could result in decreased demand for our products or services, deterioration in the”
NEW · FY 2025
“business, financial condition, liquidity, results of operations or capital position.”
NEW · FY 2025
“$6.5 billion (par value of $7.4 billion), and with accumulated unrealized losses of”
NEW · FY 2025
“the Puerto Rico government. While the overall fiscal situation”
+ 25 more new paragraphs not shown
Policies & disclosures
Clawback, anti-hedging, stock ownership, and related-party policies will populate from extracted proxy sections.