Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 73

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 1A
Chunk 73
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 to the plan. The penalty would be recorded as an expense in the consolidated statement of operations. The ultimate amount
of the withdrawal liability is dependent upon several factors including the funded status of the plan and contributions made by other
participating companies. We continue to participate in other multiemployer union plans. In the event of a full or partial withdrawal from
these plans, the impact on our financial statements could be material.

Eminent domain and land
risk regulations could negatively impact our financial results and financial position.

We own real property on which
we operate our processing and/or our distribution operations. As is the case with any owner of real property, we may be subject to eminent
domain proceedings that can impact the value of investments we have made in real property as well as potentially disrupt our business
operations. If subject to eminent domain proceedings or other government takings, we may not be adequately compensated.

Item 1B. Unresolved Staff Comments

None.

Item 1C. Cybersecurity

We maintain an information
security and cybersecurity program, as well as a cybersecurity governance framework, which are designed to protect our information systems
against operational risks related to cybersecurity.

Cybersecurity Risk Management and Strategy

We recognize the importance
of assessing, identifying, and managing material risks associated with cybersecurity threats which include, among other things, operational
risks, intellectual property theft, fraud or extortion, harm to employees or customers, violation of privacy or security laws and related
litigation and legal risk, and reputational risks.

We have developed and implemented
a cybersecurity risk management program overseen by our Audit Committee intended to protect the confidentiality, integrity, and availability
of our critical systems and information, and detect and contain any cybersecurity incidents that impact us. The program is integrated
into our overall risk management systems and processes, and includes a cybersecurity risk assessment process that routinely evaluates
potential impacts of cybersecurity risks on our business, including risks from cybersecurity threats associated with our use of third-party
service providers. These assessments inform our cybersecurity risk mitigation strategies. The results are regularly shared with our information
technology committee comprised of our Vice President of Information Technology, our Information Technology Manager, our President and
our Chief Financial Officer (the “IT Steering Committee”) and the Audit Committee of our Board as part of the committees’
involvement in managing and overseeing cybersecurity risks.

Our cybersecurity risk management
program also includes processes to triage, assess the severity of, escalate, contain, investigate, and remediate an incident, as well
as to