Market Newsdesk

Western Digital Provides Update on Network Security Incident

SAN JOSE, Calif.–(BUSINESS WIRE)–
Western Digital Corp. (NASDAQ: WDC) today provided an update on a network security incident involving the Company’s systems.

On March 26, 2023, we identified a network security incident where an unauthorized third party gained access to a number of the Company’s systems.

On April 2, 2023, we disclosed that upon discovery of this incident, we implemented incident response efforts and initiated an investigation with the assistance of leading security industry experts. This investigation is underway and includes analysis to understand the nature and scope of data obtained by the unauthorized party.

As a precautionary measure to secure our business operations, the Company proactively disconnected our systems and services from the public Internet. We are progressing through our restoration process and the majority of our impacted systems and services are now operational. Our factories are and have been operational throughout this incident and we are shipping products to meet our customers’ needs. While initially impacted by our proactive measures, as of April 13, 2023, My Cloud service was restored. Account access to Western Digital’s online store also was impacted and is expected to be restored the week of May 15, 2023.

In collaboration with outside forensic experts, we confirmed that an unauthorized party obtained a copy of a Western Digital database used for our online store that contained some personal information of our online store customers. This information included customer names, billing and shipping addresses, email addresses and telephone numbers. In addition, the database contained, in encrypted format, hashed and salted passwords and partial credit card numbers. We will communicate directly with impacted customers.

We are aware that other alleged Western Digital information has been made public. We are investigating the validity of this data and will continue reporting our findings as appropriate.

Regarding reports of the potential to fraudulently use digital signing technology allegedly attributed to Western Digital in consumer products, we can confirm that we have control over our digital certificate infrastructure. In the event we need to take precautionary measures to protect customers, we are equipped to revoke certificates as needed. We’d like to remind consumers to always use caution when downloading applications from non-reputable sources on the Internet.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the network security incident, our related responsive actions and communications, the restoration of our systems and services and our ability to implement additional precautionary measures. The forward-looking statements contained in this press release are based on management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including: additional information regarding the extent of the network security incident that we may uncover during our ongoing investigation, our ability to fully assess and remedy the security incident, and the possibility of additional disruption to our Company’s business operations caused by the security incident. Additional risks and uncertainties that may cause actual results to differ materially include the risks and uncertainties listed in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Form 10-K filed with the SEC on August 25, 2022, to which your attention is directed. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements to reflect new information or events, except as required by law.

About Western Digital

Western Digital is on a mission to unlock the potential of data by harnessing the possibility to use it. With Flash and HDD franchises, underpinned by advancements in memory technologies, we create breakthrough innovations and powerful data storage solutions that enable the world to actualize its aspirations. Core to our values, we recognize the urgency to combat climate change and have committed to ambitious carbon reduction goals approved by the Science Based Targets initiative. Learn more about Western Digital and the Western Digital®, SanDisk® and WD® brands at www.westerndigital.com.

© 2023 Western Digital Corporation or its affiliates. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230505005469/en/

Investor Contact:

T. Peter Andrew

949.672.9655

[email protected]

[email protected]

Media Contact:

FGS Global

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Semiconductor Data Management Security Consumer Electronics Technology Hardware

MEDIA:

Logo

Columbia Seligman Premium Technology Growth Fund Announces a Second Quarter Distribution: 9.25% Annual Rate for IPO Investors

BOSTON–(BUSINESS WIRE)–
Today, Columbia Seligman Premium Technology Growth Fund, Inc. (NYSE: STK) (the Fund) declared a second-quarter distribution, pursuant to its managed distribution policy, in the amount of $0.4625 per share, which is equal to a quarterly rate of 2.3125% (9.25% annualized) of the $20.00 offering price in the Fund’s initial public offering in November 2009. The second-quarter distribution of $0.4625 per share is equal to a quarterly rate of 1.7238% (6.90% annualized) of the Fund’s market price of $26.83 per share as of April 30, 2023.

The distribution will be paid on May 23, 2023 (the Payment Date) to Stockholders of record on May 15, 2023. The ex-dividend date is May 12, 2023. It is anticipated that the Fund will make a subsequent distribution under its managed distribution policy in the month of August.

Prior to the managed distribution policy, the Fund paid distributions pursuant to a level rate distribution policy. Under its former distribution policy and consistent with the Investment Company Act of 1940, as amended, the Fund could not distribute long-term capital gains more often than once in any one taxable year.

In October 2010, the Fund received exemptive relief from the Securities and Exchange Commission that permits the Fund to make periodic distributions of long-term capital gains more often than once in any one taxable year. After consideration by the Fund’s Board, the Fund adopted the current managed distribution policy which allows the Fund to make distributions of long-term capital gains more than once in any taxable year.

The following table sets forth the estimated breakdown of the distribution noted above, on a per share basis, from the following sources: net investment income; net realized short-term capital gains; net realized long-term capital gains; and return of capital or other capital source.

	Breakdown of Distribution
Sources	%	US Dollar
Net Investment Income	0.00%	$0.0000
Net Realized Short-Term Capital Gains	1.32%	$0.0061
Net Realized Long-Term Capital Gains	98.68%	$0.4564
Return of Capital or other Capital Source	0.00%	$0.0000
Total	100.00%	$0.4625

The following table sets forth the estimated breakdown, on a per share basis, of all distributions made by the Fund during the year-to-date period ended on the Payment Date of the above distributions (includes the distribution payment noted in the table above) from the following sources: net investment income; net realized short-term capital gains; net realized long-term capital gains; and return of capital or other capital source.

	Breakdown of All Distributions Paid Through Year-To-Date Period Ended on the Payment Date of the Current Distribution
Sources	%	US Dollar
Net Investment Income	0.00%	$0.0000
Net Realized Short-Term Capital Gains	6.17%	$0.0571
Net Realized Long-Term Capital Gains	93.83%	$0.8679
Return of Capital or other Capital Source	0.00%	$0.0000
Total	100.00%	$0.9250

Historically, the Fund has distributed more than its income and net realized capital gains, which has resulted in Fund distributions substantially consisting of return of capital or other capital source. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.” As of the payment date of the current distribution, all Fund distributions paid in 2023 (as estimated by the Fund based on current information) are from the earnings and profits of the Fund and not a return of capital. This could change during the remainder of the year, as further described below.

The amounts, sources and percentage breakdown of the distributions reported above are only estimates and are not being provided for, and should not be used for, tax reporting purposes. The actual amounts, sources and percentage breakdown of the distribution for tax reporting purposes, which may include return of capital, will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations.

The following table sets forth (i) the average annual total return of a share of the Fund’s common stock at net asset value (NAV) for the 5-year period ended April 30, 2023 and (ii) the Fund’s annualized distribution rate, for the same period, expressed as a percentage of the NAV price of a share of the Fund’s common stock at April 30, 2023.

Average Annual Total NAV Return for the 5-year Period Ended April 30, 2023	14.84%
Annualized Distribution Rate as a Percentage of April 30, 2023 NAV Price (For the 5-year Period ended April 30, 2023)	8.52%

The following table sets forth (i) the average annual total return of a share of the Fund’s common stock at net asset value (NAV) for the period since inception of Fund investment operations through the period noted and (ii) the Fund’s annualized distribution rate, for the same period, expressed as a percentage of the NAV price of a share of the Fund’s common stock at April 30, 2023. Average annual total return of a share of the Fund’s common stock at NAV for the period since inception of Fund investment operations through the period noted includes the 4.50% sales load assessed to IPO investors.

Average Annual Total NAV Return for the Period Since Inception of Investment Operations (November 30, 2009) Through April 30, 2023	13.30%
Annualized Distribution Rate as a Percentage of April 30, 2023 NAV Price (For the Period Since Inception of Investment Operations (November 30, 2009) through April 30, 2023)	7.93%

The following table sets forth (i) the cumulative total return (at NAV) of a share of the Fund’s common stock for the year-to-date period ended April 30, 2023 and (ii) the Fund’s distribution rate, for the same period, expressed as a percentage of the NAV price of a share of the Fund’s common stock at April 30, 2023

Cumulative Total NAV Return for the Year-to-Date Period Ended April 30, 2023		12.71%
Distribution Rate as a Percentage of April 30, 2023 NAV Price (For the Year-to-Date Period Ended April 30, 2023)		1.85%

You should not draw any conclusions about the Fund’s investment performance from the amount of the distributions noted in the tables above or from the terms of the Fund’s distribution policy.

The Fund or your financial professional will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions on your US federal income tax return. For tax purposes, the Fund is required to report unrealized gains or losses on certain non-US investments as ordinary income or loss, respectively. Accordingly, the amount of the Fund’s total distributions that will be taxable as ordinary income may be different than the amount of the distributions from net investment income reported above.

The Board may change the Fund’s distribution policy and the amount or timing of the distributions, based on a number of factors, including, but not limited to, the amount of the Fund’s undistributed net investment income and net short- and long-term capital gains and historical and projected net investment income and net short- and long-term capital gains.

The Fund is a closed-end investment company that trades on the New York Stock Exchange.

Past performance does not guarantee future results.

Important Disclosures:

Investors should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. You can obtain the Fund’s most recent periodic reports and other regulatory filings by contacting your financial advisor or visiting www.columbiathreadneedleus.com. These reports and other filings can also be found on the Securities and Exchange Commission’s EDGAR Database. You should read these reports and other filings carefully before investing.

The Fund expects to receive all or some of its current income and gains from the following sources: (i) dividends received by the Fund that are paid on the equity and equity-related securities in its portfolio; and (ii) capital gains (short-term and long-term) from option premiums and the sale of portfolio securities. It is possible that the Fund’s distributions will at times exceed the earnings and profits of the Fund and therefore all or a portion of such distributions may constitute a return of capital as described below. A return of capital is a return of your original investment. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.” You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the Fund’s distribution policy.

Distributions that qualify as a return of capital are a return of some or all of your original investment in the Fund. A return of capital reduces a stockholder’s tax basis in his or her shares. Once the tax basis in your shares has been reduced to zero, any further return of capital may be taxable as capital gain. Shareholders should consult their tax advisor or tax attorney for proper treatment.

Distributions may be variable, and the Fund’s distribution rate will depend on a number of factors, including the net earnings on the Fund’s portfolio investments and the rate at which such net earnings change as a result of changes in the timing of, and rates at which, the Fund receives income from the sources noted above. As portfolio and market conditions change, the rate of distributions on the shares and the Fund’s distribution policy could change.

The market prices of technology and technology-related stocks tend to exhibit a greater degree of market risk and price volatility than other types of investments. These stocks may fall in and out of favor with investors rapidly, which may cause sudden selling and dramatically lower market prices. These stocks also may be affected adversely by changes in technology, consumer and business purchasing patterns, government regulation and/or obsolete products or services. Technology and technology-related companies are often smaller and less experienced companies and may be subject to greater risks than larger companies, such as limited product lines, markets and financial and managerial resources. These risks may be heightened for technology companies in foreign markets.

The Fund’s use of derivatives introduces risks possibly greater than the risks associated with investing directly in the investments underlying the derivatives. A relatively small price movement in an underlying investment may result in a substantial gain or loss.

The Fund should only be considered as one element of a complete investment program. An investment in the Fund should be considered speculative. The Fund’s investment policy of investing in technology and technology-related companies and writing call options involves a high degree of risk.

There is no assurance that the Fund will meet its investment objectives or that distributions will be made. You could lose some or all of your investment. In addition, closed-end funds frequently trade at a discount to their net asset values, which may increase your risk of loss.

The Fund is not insured by the FDIC, NCUA or any federal agency, is not a deposit or obligation of, or guaranteed by any financial institution, and involves investment risks including possible loss of principal and fluctuation in value.

Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies.

Columbia Seligman Premium Technology Growth Fund is managed by Columbia Management Investment Advisers, LLC. This material is distributed by Columbia Management Investment Distributors, Inc., member FINRA.

© 2023 Columbia Management Investment Advisers, LLC. All rights reserved.

columbiathreadneedleus.com

Adtrax: 5670832

View source version on businesswire.com: https://www.businesswire.com/news/home/20230505005470/en/

Stockholder contact:

Kevin Howley

617-385-9517

[email protected]

Media contact:

Carlos Melville

617-897-9384

[email protected]

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

Posted on May 5, 2023 2:59 pm

MISTRAS Group to Participate in Sidoti Microcap Virtual Conference on May 11, 2023

Management Presentation to be Webcast Live at 11:30am ET on May 11

PRINCETON JUNCTION, N.J., May 05, 2023 (GLOBE NEWSWIRE) — MISTRAS Group, Inc. (MG: NYSE) – a leading “one source” multinational provider of technology-enabled asset protection solutions used to maximize the uptime and safety of critical energy, industrial, and public infrastructure – announced today that Dennis Bertolotti, Chief Executive Officer, and Edward Prajzner, Chief Financial Officer, will be participating in the Sidoti Microcap Virtual Conference on Thursday, May 11, 2023.

Management will be presenting a Fireside chat on May 11 at 11:30-12PM ET, Track 2. To register to attend and to access the presentation, please visit https://sidoti.zoom.us/webinar/register/WN_9V7L-ZkpQ6OAfoEarsk91w. Management will also be available for one-on-one meetings on May 11.

To register for a one-on-one meeting, please visit www.sidoti.com/events. Registration is free and you do not need to be a Sidoti client.

About MISTRAS Group, Inc. – One Source for Asset Protection Solutions^®

MISTRAS Group, Inc. (NYSE: MG) is a leading “one source” multinational provider of integrated technology-enabled asset protection solutions, helping to maximize the safety and operational uptime for civilization’s most critical industrial and civil assets.

Backed by an innovative, data-driven asset protection portfolio, proprietary technologies, strong commitment to Environmental, Social, and Governance (ESG) initiatives, and a decades-long legacy of industry leadership, MISTRAS leads clients in the oil and gas, aerospace and defense, renewable and nonrenewable power, civil infrastructure, and manufacturing industries towards achieving operational and environmental excellence. By supporting these organizations that help fuel our vehicles and power our society, inspecting components that are trusted for commercial, defense, and space craft; building real-time monitoring equipment to enable safe travel across bridges; and helping to propel sustainability, MISTRAS helps the world at large.

MISTRAS enhances value for its clients by integrating asset protection throughout supply chains and centralizing integrity data through a suite of Industrial IoT-connected digital software and monitoring solutions. The company’s core capabilities also include non-destructive testing field and in-line inspections enhanced by advanced robotics, laboratory quality control and assurance testing, sensing technologies and NDT equipment, asset and mechanical integrity engineering services, and light mechanical maintenance and access services.

For more information about how MISTRAS helps protect civilization’s critical infrastructure and the environment, visit https://www.mistrasgroup.com/.

Forward-Looking and Cautionary Statements

Certain statements made in this press release are “forward-looking statements” about MISTRAS’ financial results and estimates, products and services, business model, strategy, growth opportunities, profitability and competitive position, and other matters. These forward-looking statements generally use words such as “future,” “possible,” “potential,” “targeted,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict,” “project,” “will,” “may,” “should,” “could,” “would” and other similar words and phrases. Such statements are not guarantees of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved, if at all. These statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. A list, description and discussion of these and other risks and uncertainties can be found in the “Risk Factors” section of the Company’s 2022 Annual Report on Form 10-K dated March 15, 2023, as updated by our reports on Form 10-Q and Form 8-K. The forward-looking statements are made as of the date hereof, and MISTRAS undertakes no obligation to update such statements as a result of new information, future events or otherwise.

Contact:

Nestor S. Makarigakis
Group Vice President, Marketing and Communications
MISTRAS Group, Inc.
[email protected]
+1 (609) 716-4000

Posted on May 5, 2023 2:52 pm

UK Fleet Managers Reveal Priorities for a Challenging Year Ahead

UK Fleet Managers Reveal Priorities for a Challenging Year Ahead

New Samsara report highlights a focus on operational modernisation, as fleet managers battle fuel costs and driver shortages

LONDON–(BUSINESS WIRE)–Samsara Inc. (“Samsara”) (NYSE: IOT), the pioneer of the Connected Operations™ Cloud, today launched its latest report — 2023: The Road Ahead — that delivers some strong insights into the UK Fleet Industry. UK fleet managers have modernisation clearly in their sights for 2023, against a backdrop of fluctuating fuel prices and driver shortages. That’s according to a survey of 150 fleet managers, commissioned by Samsara, which reveals key priorities include upgrading vehicles (98%), increasing the sustainability of the fleet (82%), and moving to electric or hybrid vehicles (82%).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230505005271/en/

2023: The Road Ahead. A Samsara Report (Graphic: Business Wire)

The research highlights a long list of operational challenges that fleet managers need to overcome, which include improving road safety, increasing efficiency, and recruiting more drivers.

In response, 94% of fleet managers reported that they are investing in new technology in 2023 to boost operational modernisation and improve the driver experience. The majority see clear benefits to introducing connected technologies such as sensors and dashcams, including reduced paperwork (82%), improved supply chain efficiency (75%) and the ability to more easily transition to EVs or hybrid vehicles (68%).

The move is expected to be welcomed by drivers too, with a Samsara-commissioned survey of 1,000 commercial drivers of small and large vans, HGVs, and other vehicles revealing large numbers believe a variety of connected technologies would have a positive impact on their job, including dashcams (78%), GPS routing (77%), and mobile-based workflow tools (68%).

“Fleet managers recognise that technology can play a big role in creating a modern fleet and — critically — so do their drivers,” said Philip van der Wilt, SVP and General Manager EMEA, Samsara. “More importantly, fleet managers understand the importance of data to power their operations to make them safer, more efficient, and more sustainable.”

“Our findings confirm what we have known for some time — that if fleets want to future-proof their operations, they need to modernise and embrace technology. All of the challenges detailed in this report — from high fuel costs and driver shortages to regulatory changes, road safety and the transition to EVs — can be mitigated by using smart, connected technology. As this report shows, fleet managers are moving to embrace technology to modernise their fleets. Those who don’t will be in danger of getting increasingly left behind and losing competitive advantage,” added van der Wilt.

Tony Draper, head of SHEQ, M Group Services, a long-standing Samsara customer, added: “For too long, commercial fleets have been underserved by the types of technology that have transformed other sectors and industries. Thanks to affordable, connected, smart tech, fleets have the opportunity to make their operations safer, more efficient, and more sustainable.”

To read the Samsara report and find out more, visit: https://samsara.com/uk/resources/content/2023-the-road-ahead.

About the research

Samsara commissioned Vitreous World to carry out online interviews with 150 fleet or logistics managers in the UK with direct responsibility for vehicles, drivers, logistics, supply chain and/or field service operations, from 15 to 24 February 2023. A further survey of 1,000 UK commercial drivers was also carried out between 14-21 February 2023 by Good Broadcast. All research conducted adhered to the UK Market Research Society (MRS) code of conduct (2019).

About Samsara

Samsara is the pioneer of the Connected Operations™ Cloud, which is a platform that enables organizations that depend on physical operations to harness Internet of Things (IoT) data to develop actionable insights and improve their operations. Samsara operates in North America and Europe and serves tens of thousands of customers across a wide range of industries including transportation, wholesale and retail trade, construction, field services, logistics, utilities and energy, government, healthcare and education, manufacturing, and food and beverage. The company’s mission is to increase the safety, efficiency, and sustainability of the operations that power the global economy.

Samsara is a registered trademark of Samsara Inc. All other brand names, product names or trademarks belong to their respective holders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230505005271/en/

PR contact:

Sam Hall

[email protected]

KEYWORDS: United Kingdom Europe

INDUSTRY KEYWORDS: Technology General Automotive Fleet Management Automotive Trucking Vehicle Technology Transport Other Technology IOT (Internet of Things) Software Networks Internet Data Management Logistics/Supply Chain Management

MEDIA:

Logo

Photo

2023: The Road Ahead. A Samsara Report (Graphic: Business Wire)

Banner Named One of the Most Trustworthy Companies in America

WALLA WALLA, Wash.–(BUSINESS WIRE)–
Newsweek has named Banner Bank one of America’s Most Trustworthy Companies 2023. This prestigious list is compiled by Newsweek, in collaboration with market research partner Statista Inc., the world-leading statistics portal and industry ranking provider.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230505005468/en/

“Banner is in good company, sharing the list with some of the most well-known brands in the country,” said President and CEO Mark Grescovich. “Being recognized as one of the most trustworthy companies in the nation is a tremendous compliment, especially considering the current economic environment. We believe it’s a reflection of our long history to always ‘do the right thing’ for all our stakeholders.”

America’s Most Trustworthy Companies were identified in an independent survey based on a vast sample of U.S. residents who rated companies they know in terms of all three touchpoints of trust: customer trust, investor trust, and employee trust. They were asked how much they agreed with statements like “I trust in this company to treat me fairly as its customer,” “I believe this company offers good opportunities for career development,” and “I believe this company would be a good long-term investment.”

A total of 95,000 evaluations were submitted. All U.S. public and private companies with more than $500 million in revenue were considered in the study. From Newsweek and Statista teams selected the most trustworthy companies across 23 industries. In the banking industry category, Banner ranked very well at seventh of the 37 companies that made this year’s list.

View the full list of all companies on the Newsweek 2023 list.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230505005468/en/

Kelly McPhee, Senior Vice President, PR & Communications [email protected]

KEYWORDS: Washington United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

Logo

Photo

(Graphic: Business Wire)