Airspan Networks Holdings Inc. 10-K Cybersecurity GRC - 2024-10-04

Page last updated on October 4, 2024

Airspan Networks Holdings Inc. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-10-04 07:00:37 EDT.

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10-K filed on 2024-10-04

Airspan Networks Holdings Inc. filed a 10-K at 2024-10-04 07:00:37 EDT
Accession Number: 0001829126-24-006645

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity. Cybersecurity Risk Management and Strategy Information about cybersecurity risks and our risk management processes is collected, analyzed and considered as part of our overall enterprise risk management program, which we endeavor to align with industry standards. We have key Company policies and practices that directly or indirectly relate to cybersecurity matters, including policies and practices relating to antivirus protection, remote access, multifactor authentication, restricted access based upon business need and confidentiality of information, as well as procedures designed to reduce phishing, increase employee awareness of phishing attempts and other activities. The key elements of our efforts to identify, prevent, mitigate, and remediate cybersecurity risks and incidents through our cybersecurity risk management program include: ● We collect and analyze information about cybersecurity risks as part of our risk management program and monitor and discuss public alerts, threat levels, trends and remediation. 27 ● All employees receive periodic cybersecurity training designed to educate concerning the recognition of cybersecurity threats. ● Employees are obligated under the terms of our IT Appropriate Use Policy to protect IT assets from attack and to maintain proper control of access to IT systems and passwords. ● We use various security tools, including internal reporting and monitoring, to identify vulnerabilities in our products and systems. We use industry leading products and services within our IT environment to optimize security and under vendor contracts. ● Regular system updates and patching are done to protect our hardware and software against security vulnerabilities. ● In certain limited situations we allow third party suppliers to access certain areas of our systems. In such cases third party access is strictly minimized and supervised to optimize security and control. ● We have controls and procedures in place for prompt escalation of cybersecurity incidents and periodically evaluate and update contingency planning, including capability to recover in the event that a portion of our information resources were to be unavailable due to a cybersecurity incident. ● We conduct penetration testing to test our defenses and monitor threat levels. ● We partner with a third-party security consultant to review our incident response process and ensure our programs align with industry standards. Risk Assessment We experience cyber-attacks and other attempts to gain unauthorized access to our systems on a regular basis, and we anticipate continuing to be subject to such attempts. Despite our implementation of security measures, (i) our products and services, and (ii) the servers, data centers, and cloud-based solutions on which our and third-party data is stored, are vulnerable to cyber-attacks, data breaches, malware, and disruptions from unauthorized access, tampering or other theft or misuse, including by employees, malicious actors or inadvertent error. We face certain ongoing 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. Cybersecurity Governance Cybersecurity risk is part of management’s risk oversight, although periodic reports are made to the Board of Directors of management’s implementation and monitoring of our cybersecurity risks programs. Our Board of Directors addresses our cybersecurity risk management as part of its general oversight function. Management will update the Board, as necessary, regarding any significant cybersecurity incidents should they occur, so that decisions regarding public disclosure and reporting of such incidents can be made by management and the Board in a timely manner. Our information technology team, which has overall responsibility for cybersecurity, is led by our Vice President, Global IT, who, has a Masters Degree in Philosophy, Politics and Economics from Oxford University and 32 years of experience in information technology management, and who reports to our Senior Vice President and CFO. Our cybersecurity management team draws from expertise in our information technology, information security, finance, legal, impacted product teams or product management personnel and other departments as needed. This team is responsible for assessing and managing our material risks from cybersecurity threats and our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and any retained external cybersecurity consultants. 28

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