ADVENT TECHNOLOGIES HOLDINGS, INC. 10-K Cybersecurity GRC - 2024-08-13

Page last updated on August 21, 2024

ADVENT TECHNOLOGIES HOLDINGS, INC. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-08-13 17:22:20 EDT.

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10-K filed on 2024-08-13

ADVENT TECHNOLOGIES HOLDINGS, INC. filed a 10-K at 2024-08-13 17:22:20 EDT
Accession Number: 0001829126-24-005453

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity Risk Management and Strategy We have established policies and processes for assessing, identifying, and managing material risks from cybersecurity threats, and have integrated these processes into our overall risk management systems and processes. We routinely assess material risks from cybersecurity threats, including any potential unauthorized occurrence on or conducted through our information systems that may result in adverse effects on the confidentiality, integrity, or availability of our information systems or any information residing therein. We conduct risk assessments at least annually to identify cybersecurity threats. These risk assessments include identifying reasonably foreseeable potential internal and external risks, the likelihood of occurrence and any potential damage that could result from such risks, and the sufficiency of existing policies, procedures, systems, controls and other safeguards we have put in place to manage such risks. Our risk management process also encompasses cybersecurity risks associated with the use of our major third-party vendors and service providers. Following these risk assessments, we design, implement, and maintain reasonable safeguards to minimize the identified risks; reasonably address any identified gaps in existing safeguards; update existing safeguards as necessary; and monitor the effectiveness of our safeguards. We believe we have allocated adequate resources related to our cybersecurity risk management processes and have designated our Director of Global IT with the responsibility of managing the cybersecurity risk assessment and mitigation process. As part of our overall risk management program, we provide training to employees in high risk areas on cybersecurity and have distributed standard operating procedures to all employees subsequent to this filing. For additional information regarding whether any risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected or are reasonably likely to materially affect our company, including our business strategy, results of operations, or financial condition, please refer to Item 1A, “Risk Factors,” in this annual report on Form 10-K, including the risk factors entitled “Our internal computer systems, or those of our CROs or other contractors or consultants, may fail or suffer security breaches, which could result in a material disruption of our product development programs,” “Our proprietary information, or that of our customers, suppliers and business partners, may be lost or we may suffer security breaches,” and “Failure of our information technology systems could significantly disrupt the operation of our business. Governance One of the key functions of our Board of Directors is informed oversight of our risk management process, including risks arising from cybersecurity threats. Our Board of Directors is responsible for oversight of the monitoring and strategic risk assessments, and our executive officers are responsible for the day-to-day management, monitoring and reporting to our Board of Directors the material risks we face. Our Director of Global IT is primarily responsible for assessing and managing material risks from cybersecurity threats on a day-to-day basis.

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