{
  "ticker": "FDS",
  "company": "FDS",
  "filing_type": "10-K",
  "year_current": "2026",
  "year_prior": "2025",
  "summary": {
    "added": 5,
    "removed": 3,
    "modified": 9,
    "unchanged": 17,
    "total_current": 31,
    "total_prior": 29
  },
  "source": "SEC EDGAR",
  "url": "https://riskdiff.com/fds/2026-vs-2025/",
  "markdown_url": "https://riskdiff.com/fds/2026-vs-2025/index.md",
  "json_url": "https://riskdiff.com/fds/2026-vs-2025/index.json",
  "access": "public_preview",
  "source_filings": [
    {
      "label": "2026 10-K filing on SEC EDGAR",
      "url": "https://www.sec.gov/Archives/edgar/data/1013237/000162828026066391/0001628280-26-066391-index.htm"
    },
    {
      "label": "2025 10-K filing on SEC EDGAR",
      "url": "https://www.sec.gov/Archives/edgar/data/1013237/000162828025045769/0001628280-25-045769-index.htm"
    }
  ],
  "generated": "2026-10-20",
  "ai_summary": "New AI, infrastructure, vendor and transformation risks broaden exposure, while revised cybersecurity and legal disclosures reinforce execution and operational concerns.",
  "ai_brief": {
    "executive_summary": "New AI, infrastructure, vendor and transformation risks broaden exposure, while revised cybersecurity and legal disclosures reinforce execution and operational concerns.",
    "direction": "more_concerning",
    "top_themes": [
      "Artificial Intelligence",
      "Supply Chain",
      "Cybersecurity"
    ]
  },
  "risks": [
    {
      "status": "ADDED",
      "current_title": "Inadequate or inconsistent governance of our internal use of AI could expose us to security, operational, legal and reputational risks",
      "prior_title": null,
      "severity": {
        "deterministic": 9,
        "ai_bump": 0,
        "total": 9,
        "tier": "high",
        "signal_hits": [
          "ai",
          "regulation"
        ]
      },
      "current_body": "We are rapidly expanding the use of AI technologies, including generative and agentic AI, across our products, internal systems and business processes. The pace of adoption may outpace the maturity of our governance, controls and oversight. If AI tools are adopted inconsistently or in a decentralized manner across our business, or are used outside of our established governance frameworks and approved environments, we may be exposed to increased operational, security, legal, regulatory and reputational risk. The introduction of agentic AI, which can take autonomous actions across systems, may create new attack surfaces and novel security vulnerabilities that our existing controls were not designed to address. Our policies, controls and monitoring may not keep pace with the rapid evolution of these technologies or with emerging legal and regulatory requirements. Any failure to establish and enforce effective AI governance could result in security incidents, regulatory scrutiny or enforcement, litigation, harm to our reputation and client relationships, and could otherwise have a material adverse effect on our business, financial condition or results of operations."
    }
  ],
  "full_url": "https://riskdiff.com/fds/2026-vs-2025/full/"
}