Company: BKTI
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009464
Chunk: 707

Company: BK Technologies Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 707
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336 and $275, respectively, in accrued other expenses and other current liabilities on the Company’s consolidated balance sheets.  This amount represents the Company’s estimate of incurred but not reported claims as of  December 31, 2024 and 2023.
    
   Liability for Product Warranties
    
   Changes in the Company’s liability for its standard two-year and five-year product warranties during the years ended  December 31, 2024 and 2023 are as follows:

       Balance at            Balance at  
   Beginning of    Warranties    Warranties    End of  
   Year    Issued    Settled    Year  
 2024  $722  $1,149  $(863) $1,008 
 2023  $591  $165  $(34) $722 

   Legal Proceedings
    
   From time to time the Company  may be involved in various claims and legal actions arising in the ordinary course of its business.
    
   There were no pending material claims or legal matters as of  December 31, 2024.
    
   Geopolitical Tensions 
    
   U.S. and global markets are experiencing volatility and disruption following the escalation of geopolitical tensions and the military conflict between Russia and Ukraine and in the Middle East. Although the length and impact of the ongoing military conflicts is highly unpredictable, the conflict in both of these regions could lead to market disruptions, including significant volatility in commodity prices, credit and capital markets, as well as supply chain interruptions.

   16. Capital Programs
    
   On  December 17, 2021 a share repurchase program was authorized under which the Company  may repurchase up to an aggregate of $5,000 of its common shares. Share repurchases under this program were authorized to begin immediately. The program does not have an expiration date. Any repurchases would be funded using cash on hand and cash from operations. The actual timing, manner and number of shares repurchased under the program will be determined by management and the Board of Directors at their discretion, and will depend on several factors, including the market price of the Company’s common shares, general market and economic conditions, alternative investment opportunities, and other business considerations in accordance with applicable securities laws and exchange rules. The authorization of the share repurchase program does not require the Company to acquire any particular number of shares