ELECTRAMECCANICA VEHICLES CORP. 10-K Cybersecurity GRC - 2024-03-08

Page last updated on July 16, 2024

ELECTRAMECCANICA VEHICLES CORP. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-03-08 16:37:21 EST.

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10-K filed on 2024-03-08

ELECTRAMECCANICA VEHICLES CORP. filed a 10-K at 2024-03-08 16:37:21 EST
Accession Number: 0001410578-24-000164

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Item 1C. Cybersecurity.

ITEM 1C. Cybersecurity Risk Management and Strategy The Company recognizes the critical importance of developing, implementing, and maintaining good cybersecurity measures to safeguard its information systems and protect its data’s confidentiality, integrity, and availability. As part of the Company’s overall risk management system, the Company has diligently protected and secured physical, virtual, and cloud assets. To defend against cybersecurity incidents, the Company has implemented cybersecurity monitoring tools for its virtual and cloud environments to monitor network traffic within the Company for abnormalities and for any potential intrusions. For the Company’s user devices, the Company has implemented a software-based Zero-Trust virtual private network (VPN) and a software-based firewall to ensure the Company’s data is protected. Additionally, the Company has deployed monitoring systems, multifactor authentication (MFA), and single-sign-on (SSO) to ensure user accounts are protected from external cybersecurity threats. The Company regularly monitors third-party service providers, such as those that provide cloud-based and VPN services, to identify and mitigate risks from cybersecurity threats. Risks from Cybersecurity Threats As of the date of this filing, the Company has not encountered any risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, that materially affected or are reasonably likely to materially affect the Company, including its business strategy, results of operations or financial condition. The Company’s strategy is to mitigate risks preventatively; however, no assurances can be provided that there will not be incidents in the future or that they will not materially affect the Company. Governance The Company’s Board of Directors is responsible for identifying the principal risks of the Company’s business and ensuring that those risks are effectively managed. The Company’s Chief Information Officer is responsible for assessing and managing the Company’s risks from cybersecurity threats and has approximately 15 years of prior work experience in roles involving information technology. The Chief Information Officer is informed about, and monitors the prevention, detection, mitigation and remediation of, cybersecurity incidents through his management of, and participation in, the monitoring systems and processes described above. The Chief Information Officer reports information about such risks to the Company’s Chief Executive Officer, Chief Financial Officer and General Counsel, who then would report information to the Company’s Board of Directors. When appropriate, the Chief Information Officer would be invited by management to present information to the Company’s Board of Directors.

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