# EDGAR Filing Document

**Accession Number:** 0000042682
**File Stem:** 0000950170-25-087736
**Filing Date:** 2025-6
**Character Count:** 31728
**Document Hash:** f283b77ed0661f6cd93a632ca79e4f18
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-087736.hdr.sgml**: 20250618

**ACCESSION NUMBER**: 0000950170-25-087736

**CONFORMED SUBMISSION TYPE**: 11-K

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20250618

**FILED AS OF DATE**: 20250618

**DATE AS OF CHANGE**: 20250618

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GORMAN RUPP CO
- **CENTRAL INDEX KEY:** 0000042682
- **STANDARD INDUSTRIAL CLASSIFICATION:** PUMPS & PUMPING EQUIPMENT [3561]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 340253990
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 11-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-06747
- **FILM NUMBER:** 251055490

**BUSINESS ADDRESS:**
- **STREET 1:** 600 SOUTH AIRPORT ROAD
- **STREET 2:** P.O. BOX 1217
- **CITY:** MANSFIELD
- **STATE:** OH
- **ZIP:** 44901
- **BUSINESS PHONE:** 419-755-1011

**MAIL ADDRESS:**
- **STREET 1:** 600 SOUTH AIRPORT ROAD
- **STREET 2:** P.O. BOX 1217
- **CITY:** MANSFIELD
- **STATE:** OH
- **ZIP:** 44901

**______________________________________________________________________________**

**____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________**

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**_________________________**

**FORM 11-K**

**_________________________**

(X) **ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1934**

For the fiscal year ended December 31, 2024

OR

() **TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**OF 1934**

For the transition period from ____ to____

Commission file number: 1-6747

_________________________________________________________

a.Full Title of the plan and the address of the plan, if different from that of the issuer named below:

**<u>THE GORMAN-RUPP COMPANY 401(k) PLAN</u>**

b. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

**The Gorman-Rupp Company**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**600 South Airport Road Mansfield, Ohio 44903**

\*\*\*\*\*\*\*\*\*\*\*

The Exhibit Index is located on Page 17

**______________________________________________________________________________**

**___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________**

------

**Required Information**

Audited plan financial statements and schedules prepared in accordance with the financial reporting requirements of the Employee Retirement Income Security Act of 1974, as amended, are filed herewith in lieu of the requirements of audited statements of financial condition and audited statements of income and changes in plan equity.

<u>Financial Statements and Exhibits</u>

---

| | | |
|:---|:---|:---|
| A) | The following financial statements and schedules (including the report of Meaden & Moore) are filed as part of this annual report: | The following financial statements and schedules (including the report of Meaden & Moore) are filed as part of this annual report: |
|  | 1) | Statements of Net Assets Available for Benefits-December 31, 2024 and 2023 |
|  | 2) | Statement of Changes in Net Assets Available for Benefits-Year ended December 31, 2024 |
|  | 3) | Schedule of Assets (Held at End of Year) |
| B) | The following exhibit is filed as part of this annual report: | The following exhibit is filed as part of this annual report: |
|  | (23) | Consents of Independent Registered Public Accounting Firm |

---

------

AUDITED FINANCIAL STATEMENTS AND

SUPPLEMENTAL SCHEDULE

The Gorman-Rupp Company 401(k) Plan

December 31, 2024 and 2023, and Year Ended December 31, 2024

With Report of Independent Registered Public Accounting Firm

------

The Gorman-Rupp Company 401(k) Plan

Audited Financial Statements

and Supplemental Schedule

December 31, 2024 and 2023, and

Year Ended December 31, 2024

**Contents**

---

| | |
|:---|:---|
| <u>Report of Independent Registered Public Accounting Firm</u><br>| 5 |
| Audited Financial Statements<br>|  |
| [<u>Statements of Net Assets Available for Benefits</u>](#stmtofnetassets) | 7 |
| [<u>Statement of Changes in Net Assets Available for Benefits</u>](#stmtofchangenetassets) | 8 |
| [<u>Notes to Financial Statements</u>](#notestofinancials) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| Supplemental Schedule |  |
| [<u>Schedule H Line 4i - Schedule of Assets (Held at End of Year)</u>](#scheduleofassets) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 |

---

------

![img205067395_0.jpg](img205067395_0.jpg)

**Report of Independent Registered Public Accounting Firm**

The Board of Directors, Plan Administrator and Plan Participants of

The Gorman-Rupp Company 401(k) Plan

Mansfield, Ohio

***Opinion on the Financial Statements***

We have audited the accompanying statement of net assets available for benefits of The Gorman-Rupp Company 401(k) Plan ("Plan") as of December 31, 2024 and 2023 and the related statement of changes in net assets available for benefits for the year ended December 31, 2024, and the related notes and schedule (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2024 and 2023 and the changes in net assets available for benefits for the year ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

***Supplemental Information***

The supplemental Schedule of Assets (Held at End of Year) as of December 31, 2024 has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information.

------

![img205067395_0.jpg](img205067395_0.jpg)

***Supplemental Information, Continued***

In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with Department of Labor's (DOL) Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ Meaden & Moore, Ltd.

We have served as the Plan's auditor since 2013.

Cleveland, Ohio

June 18, 2025

------

The Gorman-Rupp Company 401(k) Plan

Statements of Net Assets Available for Benefits

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2024** | **2023** |
| **Assets** | **Assets** | **Assets** |
| Investments | $**120245315** | $94941939 |
| Receivables: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Participant contributions | **-** | 142866 |
| &nbsp;&nbsp;&nbsp;&nbsp;Employer contributions | **-** | 119949 |
| &nbsp;&nbsp;&nbsp;&nbsp;Notes receivable from participants | **2342050** | 2274209 |
| Net assets available for benefits, at fair value | $**122587365** | $97478963 |
| *See accompanying notes.* |  |  |

---

------

The Gorman-Rupp Company 401(k) Plan

Statement of Changes in Net Assets Available for Benefits

Year Ended December 31, 2024

---

| | |
|:---|:---|
| **Additions** |  |
| Investment income: |  |
| &nbsp;&nbsp;Net appreciation in fair value of investments | $**7425772** |
| &nbsp;&nbsp;Interest and dividends | **4487820** |
| Net increase on the changes of net assets | **11913592** |
| Interest income on notes receivable from participants | **153973** |
| **Contributions** |  |
| &nbsp;&nbsp;Participants | **6592622** |
| &nbsp;&nbsp;Employer | **4834285** |
| &nbsp;&nbsp;Rollovers | **324259** |
| Total Contributions | **11751166** |
| **Deductions** |  |
| Benefits paid to participants | **9464033** |
| Net increase | **14354698** |
| **Merger into the Plan** | **10753704** |
| Net assets available for benefits: |  |
| &nbsp;&nbsp;Beginning of year | **97478963** |
| &nbsp;&nbsp;End of year | $**122587365** |

---

------

The Gorman-Rupp Company 401(k) Plan

Notes to Financial Statements

December 31, 2024 and 2023, and

Year Ended December 31, 2024

**1. Description of the Plan**

The following description of The Gorman-Rupp Company 401(k) Plan (Plan) provides only general information. Participants should refer to the Summary Plan Description for a more complete description of the Plan's provisions.

**General**

The Plan is a defined contribution plan covering substantially all employees of the Corporate, Mansfield and Industries Divisions of The Gorman-Rupp Company (Company and Plan Administrator) and includes National Pump Company and Patterson Pump Company, subsidiaries of the Company. Bank of America Merrill Lynch is the trustee and record keeper of the Plan. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Effective June 1, 2022, the Plan was amended to include employees of Fill-Rite Company who became employees of Fill-Rite on or about June 1, 2022, as a result of the Company's acquisition of certain assets of Tuthill Corporation. Effective December 31, 2023 the Plan was amended to include the merger of the AMT Pump Company 401(k) Plan with and into the Plan, the adoption of the Plan by AMT Pump Company as a participating employer effective January 1, 2024, and revisions required to reflect new terms of the Collective Bargaining Agreement between Fill-Rite Company and Chauffeurs, Teamsters, and Helpers Local Union #414.

**Contributions**

Each year, participants may contribute up to 50% (Plan amended July 1, 2022 to change employee deferral limit from 40% to 50%) of pretax annual compensation (15% for highly compensated employees), as defined in the Plan. Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans. The Company contributes 40% of the first 4% of compensation that a participant contributes to the Plan provided such participant was hired prior to January 1, 2008. For employees hired after January 1, 2008, all previous participants in The National Pump Company 401(k) Savings Plan, Fill-Rite Company employees and previous participants in the AMT Pump Company 401(k) Plan, the Company contributes 50% of the first 6% of compensation that a participant contributes to the Plan. The Company also contributes a percentage of the employee's income based on the age of the employee and the years of service with the Company for employees hired on or after January 1, 2008.

Full-time employees are eligible to participate in the Plan upon hiring. The additional Company contribution for employees hired on or after January 1, 2008 has a 90-day waiting period. Catch up contributions are eligible under certain circumstances.

New hires are auto-enrolled in the Plan with employee deferrals at 6%. Upon enrollment, a participant may direct employee contributions in whole increments to any of the investment fund options offered by the Plan. Employees may elect to transfer all or a portion (in 1% increments) of their account balance to any fund offered in the Plan, based on the value of their account on the immediately preceding valuation date. Rollovers are currently allowed by the Plan.

Contributions from Plan participants and the matching contributions from the Employer are recorded in the year in which the employee contributions are withheld from compensation.

------

The Gorman-Rupp Company 401(k) Plan

Notes to Financial Statements

December 31, 2024 and 2023, and

Year Ended December 31, 2024

**1. Description of the Plan (Continued)**

**Participant Accounts**

Each participant's account is credited with the participant's contributions and allocations of the Company's contributions and allocations of Plan earnings. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant's account.

**Vesting**

Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company age and service contribution is based on years of continuous service; a participant is 100% vested after three years of service.

**Forfeitures**

Upon termination of employment, participants forfeit their nonvested balances. If a participant is rehired within a 5-year period, the forfeited contributions are reinstated. Forfeited balances of terminated participant's nonvested accounts are used to reduce future Company contributions. Unallocated forfeitures balances as of December 31, 2024 and 2023 were $2,882 and $3,296, respectively.

**Notes Receivable from Participants**

Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. The term of the loan shall not exceed 5 years, or 20 years for the purchase of a primary residence. A participant may not have more than one loan at any point in time. The loans are secured by the balance in the participant's account and bear interest at the prime rate, as quoted in *The Wall Street Journal* at the date of loan origination. Principal and interest is paid ratably through payroll deductions.

**Payment of Benefits**

Upon retirement or termination of employment, a participant may receive a lump-sum amount equal to the vested value of his or her account. A lump-sum payment is required at a participant's death. Participants may also receive payments upon reaching the age of 59 ½ or with proof of hardship, as determined by the Plan Administrator. Benefits are recorded when paid.

**Plan Termination**

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event the Plan terminates, participants will become 100 percent vested in their accounts.

------

The Gorman-Rupp Company 401(k) Plan

Notes to Financial Statements

December 31, 2024 and 2023, and

Year Ended December 31, 2024

**2. Summary of Significant Accounting Policies**

**Basis of Accounting**

The financial statements have been prepared on the accrual basis of accounting.

**Notes Receivable from Participants**

Notes receivable from participants represent participant loans that are recorded at their unpaid principal balance plus any accrued but unpaid interest. Interest income on notes receivable from participants is recorded when it is earned. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded as of December 31, 2024 or 2023.

If a participant ceases to make loan repayments and the Plan Administrator deems the participant loan to be a distribution, the participant loan balance is reduced and a benefit payment is recorded.

**Common Collective Trust**

The Federated Capital Preservation Fund (Class R6) is a common collective trust. The Fund holds guaranteed investment contracts (traditional GICs), separate account guaranteed investment contracts (separate account GICs) and synthetic guaranteed investment contracts (synthetic GICs). The fair value of traditional GICs is determined based on the present value of the contract's expected cash flows, discounted by current market interest rates for like-duration and like-quality investments. The fair value of a separate account GIC and a synthetic GIC is determined based on the fair value of the securities underlying each GIC. The Fund attempts to maintain a stable price per unit of $10.00, however, there can be no assurance that the value of the units in the Fund will not fluctuate. Participants can transact with the trust on a daily basis and there are no unfunded commitments and no redemption restrictions.

**Investment Valuation and Income Recognition**

The Plan's investments are stated at fair value. The shares of registered investment companies are valued at quoted market prices, which represent the net asset values of shares held by the Plan at year-end. The Company stock is valued at its quoted market price as of the last business day of the Plan's year.

In accordance with ASC 820, *Fair Value Measurements,* assets and liabilities measured at fair value are categorized into the following fair value hierarchy:

Level 1 – Fair value is based on unadjusted quoted prices for identical assets or liabilities in an active market that the Plan has the ability to access at the measurement date.

------

The Gorman-Rupp Company 401(k) Plan

Notes to Financial Statements

December 31, 2024 and 2023, and

Year Ended December 31, 2024

**2. Summary of Significant Accounting Policies (Continued)**

Level 2 – Fair value is based on quoted prices in markets that are not active, quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

Level 2 inputs include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Quoted prices for similar assets or liabilities in active markets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Quoted prices for identical or similar assets or liabilities in inactive markets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•observable inputs other than quoted prices that are used in the valuation of the asset or liabilities (e.g., interest rate and yield curve quotes at commonly quoted intervals).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Inputs that are derived from or corroborated by observable market data by correlation or other means.

Level 3 – Fair value is based on prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable. These inputs reflect management's judgment about the assumptions that a market participant would use in pricing the investment and are based on the best available information, some of which may be internally developed.

Purchase and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation includes the Plan's gains and losses on investments bought and sold as well as held during the year.

**Use of Estimates**

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates that affect the amounts reported in the financial statements and accompanying notes and supplemental schedules. Actual results could differ from those estimates.

**Subsequent Events**

Management evaluated subsequent events for the Plan through the date the financial statements were available to be issued.

The Company amended the Plan on February 1, 2025 to add a Roth deferral feature and make a clarifying changes permitted by IRS Revenue Procedure 2021-30.

------

The Gorman-Rupp Company 401(k) Plan

Notes to Financial Statements

December 31, 2024 and 2023, and

Year Ended December 31, 2024

**3. Fair Value Measurement**

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., an exit price). The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value.

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).

The level of the fair value hierarchy within which the fair value measurement is classified is determined based on the lowest level input that is significant to the fair value measure in its entirety.

The following is a description of the valuation methodologies used for major categories of assets measured at fair value by the Plan. There have been no changes in the methodologies used at December 31, 2024 and 2023.

Fair Value for Level 1 is based upon quoted market prices of common stock (unitized fund), money market and mutual funds.

Fair Value for Level 2 is determined by dividing the common collective trust's net assets by its units outstanding at the valuation dates.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Assets at Fair Value as of December 31, 2024 | Assets at Fair Value as of December 31, 2024 | Assets at Fair Value as of December 31, 2024 | Assets at Fair Value as of December 31, 2024 |
|  | Level 1 | Level 2 | Level 3 | Total |
| &nbsp;&nbsp;&nbsp;The Gorman-Rupp Company Stock Fund | $10372787  | &nbsp;&nbsp;&nbsp;&nbsp;$– | $– | &nbsp;&nbsp;&nbsp;&nbsp;$10372787 |
| &nbsp;&nbsp;&nbsp;Mutual Funds & Money Market | 104997462 | – | – | &nbsp;&nbsp;&nbsp;&nbsp;104997462 |
| &nbsp;&nbsp;&nbsp;Common Collective Trust | – | &nbsp;&nbsp;&nbsp;&nbsp;4875066 | – | &nbsp;&nbsp;&nbsp;&nbsp; 4875066 |
| &nbsp;&nbsp;&nbsp;Total assets at fair value | $115370249 | &nbsp;&nbsp;&nbsp;&nbsp;$4875066 | $– | $120245315 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Assets at Fair Value as of December 31, 2023 | Assets at Fair Value as of December 31, 2023 | Assets at Fair Value as of December 31, 2023 | Assets at Fair Value as of December 31, 2023 |
|  | Level 1 | Level 2 | Level 3 | Total |
| &nbsp;&nbsp;&nbsp;The Gorman-Rupp Company Stock Fund | $10181230  | $– | $– | &nbsp;&nbsp;&nbsp;&nbsp;$10181230 |
| &nbsp;&nbsp;&nbsp;Mutual Funds & Money Market  | &nbsp;&nbsp;&nbsp;&nbsp;81013177 | – | – | &nbsp;&nbsp;&nbsp;&nbsp; 81013177 |
| &nbsp;&nbsp;&nbsp;Common Collective Trust | – | &nbsp;&nbsp;&nbsp;&nbsp;3747532 | – | &nbsp;&nbsp;&nbsp;&nbsp; 3747532 |
| &nbsp;&nbsp;&nbsp;Total assets at fair value | $91194407 | &nbsp;&nbsp;&nbsp;&nbsp;$3747532 | $– | &nbsp;&nbsp;&nbsp;&nbsp;$94941939 |

---

------

The Gorman-Rupp Company 401(k) Plan

Notes to Financial Statements

December 31, 2024 and 2023, and

Year Ended December 31, 2024

**4. Party-in-Interest Transactions**

The investments held in The Gorman-Rupp Company Stock Fund received dividends of $201,416 on the shares from the Plan Sponsor. In addition, the Plan has arrangements with various service providers and these arrangements qualify as party-in-interest transactions.

**5. Administrative Costs**

Certain fees for legal, accounting and other services rendered to the Plan are paid by the Company.

**6. Risks and Uncertainties**

The Plan has investments in The Gorman-Rupp Company Stock Fund of $10,372,787 or 9% of net assets as of December 31, 2024.

Investment securities are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of the investment securities will occur in the near term and that such changes could materially affect participants' account balances and the amounts reported in the Statements of Net Assets Available for Benefits.

**7. Income Tax Status**

The Plan has received a determination letter from the Internal Revenue Service dated March 29, 2017, stating that the Plan is qualified under section 401(a) of the Internal Revenue Code (Code) and, therefore, the related trust is exempt from taxation. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification.

Accounting principles generally accepted in the United States require plan management to evaluate uncertain tax positions taken by the Plan. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2024, there are no uncertain positions taken or expected to be taken. The Plan has recognized no interest or penalties related to uncertain tax positions. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

------

The Gorman-Rupp Company 401(k) Plan

Notes to Financial Statements

December 31, 2024 and 2023, and

Year Ended December 31, 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **(c) Description of** |  |  |
|  |  | **Investment Including** |  |  |
|  |  | **Maturity Date, Rate** |  |  |
|  | **(b) Identity of Issuer, Borrower,** | **of Interest, Par** |  | **(e) Current** |
| (a) | **Lessor or Similar Party** | **or Maturity Value** | **(d) Cost** | **Value** |
| \* | The Gorman-Rupp Company Stock Fund | Stock Fund (Unitized Fund) | N/A | $10372787 |
|  | BLF Fund | Money Market Fund | N/A | 5005 |
|  | Federated Capital Preservation Class R6 | Common Collective Trust | N/A | 4875066 |
|  | American Capital World Bond Fund Class R-6 | Mutual Fund | N/A | 394624 |
|  | Franklin Growth Fund R6 | Mutual Fund | N/A | 3648014 |
|  | iShares S&P 500 Index FD CL K | Mutual Fund | N/A | 20236090 |
|  | Isharres Russell Mid-Cap | Mutual Fund | N/A | 903992 |
|  | Invesco Global Fund | Mutual Fund | N/A | 3514997 |
|  | Janus Henderson Enterprise N | Mutual Fund | N/A | 3111879 |
|  | John Hancock Disciplined Val R6 | Mutual Fund | N/A | 3089166 |
|  | Lord Abbett Total Return Fund Class 1 | Mutual Fund | N/A | 8066829 |
|  | Metro West Low Duration CL 1 | Mutual Fund | N/A | 2039572 |
|  | Principal Real Estate Sec Fd 1 | Mutual Fund | N/A | 2009695 |
|  | Putnam Large Cap | Mutual Fund | N/A | 4795583 |
|  | NUVEEN Lifecycle 2025 Fund R7 | Mutual Fund | N/A | 10387994 |
|  | NUVEEN Lifecycle 2030 Fund R6 | Mutual Fund | N/A | 1692852 |
|  | NUVEEN Lifecycle 2035 Fund R6 | Mutual Fund | N/A | 3662600 |
|  | NUVEEN Lifecycle 2040 Fund R6 | Mutual Fund | N/A | 2153182 |
|  | NUVEEN Lifecycle 2045 Fund R6 | Mutual Fund | N/A | 1675819 |
|  | NUVEEN Lifecycle 2050 Fund R6 | Mutual Fund | N/A | 1619236 |
|  | NUVEEN Lifecycle 2055 Fund R6 | Mutual Fund | N/A | 1715922 |
|  | NUVEEN Lifecycle 2060 Fund R6 | Mutual Fund | N/A | 2375521 |
|  | NUVEEN Lifecycle 2065 Fund R6 | Mutual Fund | N/A | 438 |
|  | NUVEEN LifecycleTrtmt Income R6 | Mutual Fund | N/A | 346970 |
|  | Transamerica Bond Fund 1 | Mutual Fund | N/A | 2968074 |
|  | Vanguard Developed Markets | Mutual Fund | N/A | 13709778 |
|  | Vanguard Small Cap | Mutual Fund | N/A | 9586939 |
|  | Vanguard Total BD MRK IDX | Mutual Fund | N/A | 1286286 |
|  | Pending Settlement Fund | Mutual Fund | N/A | 405 |
|  | Subtotal Investments |  |  | 120245315 |
| \* | Notes Receivable From Participants | At interest rate of 3.25% - 9.5% with maturity dates through 2042 | N/A | 2342050 |
|  |  |  |  | $122587365 |
|  | \*Indicates party-in-interest to the plan. |  |  |  |

---

------

The Gorman-Rupp Company 401(k) Plan

Notes to Financial Statements

December 31, 2024 and 2023, and

Year Ended December 31, 2024

**<br>SIGNATURES**

<u>The Plan.</u> Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | THE GORMAN-RUPP COMPANY 401(k) PLAN | THE GORMAN-RUPP COMPANY 401(k) PLAN |
|  | By: | The Gorman-Rupp Company, as Plan Administrator |
| Date: June 18, 2025 | By: /s/ James C. Kerr | By: /s/ James C. Kerr |
|  | James C. Kerr, Chief Financial Officer | James C. Kerr, Chief Financial Officer |

---

------

The Gorman-Rupp Company 401(k) Plan

Notes to Financial Statements

December 31, 2024 and 2023, and

Year Ended December 31, 2024

Exhibit<u>Number</u> <u>Description</u> <br> 23 [<u>Consent of Independent Registered Public Accounting Firm</u>](grc-ex23.htm)

------

## Ex-23

![img247028604_0.jpg](img247028604_0.jpg)

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 333-105682 and Form S-8 No. 333-207693) pertaining to The Gorman-Rupp Company 401(k) Plan of our report dated June 18, 2025, with respect to the financial statements and supplemental schedule of The Gorman-Rupp Company 401(k) Plan included in this Annual Report (Form 11-K) for the years ended December 31, 2024 and 2023.

/s/ Meaden & Moore, Ltd.

Cleveland, Ohio

June 18, 2025

**Meaden & Moore, Ltd.**

(A Meaden & Moore Affiliate Company)

1375 East Ninth Street, Suite 1800 \| Cleveland, OH 44114-1790 \| P (216) 241-3272 \| F (216) 771-4511 \| meadenmoore.com

------