BEYOND MEAT, INC. 10-K Cybersecurity GRC - 2024-03-01

Page last updated on July 16, 2024

BEYOND MEAT, INC. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-03-01 08:50:38 EST.

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10-K filed on 2024-03-01

BEYOND MEAT, INC. filed a 10-K at 2024-03-01 08:50:38 EST
Accession Number: 0001655210-24-000025

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Item 1C. Cybersecurity.

ITEM 1C. CYBERSECURITY. Cybersecurity Risk Management and Strategy We have developed and implemented a cybersecurity risk management program led by the Company’s Vice President, IT, that is designed to protect the confidentiality, integrity, and availability of the Company’s data and systems. Our cybersecurity risk management program includes a cybersecurity incident response plan. We design and assess our program based on the National Institute of Standards and Technology Cybersecurity Framework (NIST CSF 2.0). This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use the NIST CSF 2.0 as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas. Our cybersecurity risk management program includes: - A risk assessment process designed to help identify material cybersecurity risks to our critical systems, information, services, and our broader enterprise IT environment; - A security team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents; - The use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security controls; - Cybersecurity awareness training of our employees, incident response personnel, and senior management; - A cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and - A third party risk management process for service providers, suppliers, and vendors. As of the date of this filing, we have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected us, including our operations, business strategy, results of operations, or financial condition. We face risks from cybersecurity threats that, if realized, are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. For additional information, see Part I, Item 1A , Risk Factors-Risks Related to Our Intellectual Property, Information Technology, Cybersecurity and Privacy-A cybersecurity incident, other technology disruptions or failure to comply with laws and regulations relating to privacy and the protection of data relating to individuals could negatively impact our business, our reputation and our relationships with customers. Cybersecurity Governance Our board of directors considers cybersecurity risk as part of its risk oversight function and in February 2024, delegated to the risk committee of the board of directors (“Committee”) oversight of cybersecurity risks and incidents and any other risks and incidents relevant to the Company’s computerized information system controls and security. Prior to February 2024, the board of directors had delegated this oversight to the audit committee of the board of directors. The Committee oversees management’s implementation of our cybersecurity risk management program. The Committee receives annual reports from management on our cybersecurity risks. In addition, management updates the Committee, as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential. The Committee reports to the full board of directors regarding its activities. Our IT team, including our Vice President of IT, is responsible for assessing and managing our material risks from cybersecurity threats. The IT team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Members of our IT team have over 10+ years of experience in operations technology support across multiple industries. The team holds industry standard certifications, related to System, Security and Network Administration, and are required to complete security awareness training multiple times per year. Our IT team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.

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