Company: MRCY
Filing Date: 2025-08-11
Form Type: 10-K
Source: 0001049521-25-000024
Chunk: 128

Company: MERCURY SYSTEMS INC
Filing Date: 2025-08-11
Form: 10-K
Item: Item 8
Chunk 128
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 periods presented:Fiscal Years Ended June 27, 2025June 28, 2024Fair value of Plan assets, beginning$16,873 $20,559 Actual return on Plan assets1,125 246 Company contributions978 988 Employee contributions1,106 1,235 Benefits paid557 (881)Settlements(10,299)(5,239)Foreign exchange gain (loss) 2,100 (35)Fair value of Plan assets at end of year$12,440 $16,873 The following table presents the Company's reconciliation of funded status for the period presented:As of June 27, 2025June 28, 2024Projected benefit obligation at end of year$17,722 $21,878 Fair value of plan assets at end of year12,440 16,873 Funded status$(5,282)$(5,005)The fair value of Plan assets was $12,440 at June 27, 2025. The Plan is denominated in a foreign currency, the Swiss Franc, which can have an impact on the fair value of Plan assets. The Plan was not subject to material fluctuations during the years ended June 27, 2025 or June 28, 2024. The Plan’s assets are administered by an independent pension fund foundation (the “foundation”). As of June 27, 2025, the foundation has invested the assets of the Plan in various investments vehicles, including cash, real estate, equity securities, and bonds. The investments are measured at fair value using a mix of Level 1, Level 2 and Level 3 inputs.401(k) PlanThe Company maintains a qualified 401(k) plan (the “401(k) Plan”) for its U.S. employees. Effective in the first quarter of fiscal 2023, the Company increased the rate of its matching contributions from 3% to 6% of participants' eligible annual compensation and changed the form of these contributions from cash to Company stock. The Company may also make optional contributions to the plan for any plan year at its discretion. The Company had $3,068 and $2,901 of capitalized stock-based 401(k) matching compensation expense on the Consolidated Balance Sheet as of June 27, 2025 and June 28, 2024, respectively. Stock-based 401(k) matching compensation cost is measured based on the value of the matching amount and is