UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM SD
SPECIALIZED DISCLOSURE REPORT
SMITH & WESSON BRANDS, INC.
(Exact name of registrant as specified in its charter)
NEVADA | 001-31552 | 87-0543688 | ||
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(IRS Employer Identification No.) |
2100 Roosevelt Avenue, Springfield, Massachusetts |
01104 | |
(Address of principal executive offices) | (Zip code) |
Kevin A. Maxwell, SVP, General Counsel, Chief Compliance Officer and Secretary (800) 331-0852
(Name and telephone number, including area code, of the person to contact in connection with this report.)
Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:
☒ | Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2023. |
Section 1 Conflict Minerals Disclosure
Item 1.01 Conflict Minerals Disclosure and Report
A copy of Smith & Wesson Brands, Inc. Conflict Minerals Report is filed as Exhibit 1.01 hereto and is publicly available at https://ir.smith-wesson.com/corporate-governance/conflict-minerals. The content of our website as referred to in this Form SD is included for general information only and is not incorporated by reference into this Form SD.
Item 1.02 Exhibits
Exhibit 1.01 Conflict Minerals Report
Section 2 Exhibits
Item 2.01 Exhibits
The following exhibit is filed as part of this report:
Exhibit 1.01 Conflict Minerals Report as required by Items 1.01 and 1.02 of this Form.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.
SMITH & WESSON BRANDS, INC.,
a Nevada corporation
By: | /s/ Kevin A. Maxwell |
Dated: May 31, 2024 | ||||||
Kevin A. Maxwell | ||||||||
Senior Vice President, General Counsel, | ||||||||
Chief Compliance Officer and Secretary |
Exhibit 1.01
SMITH & WESSON BRANDS, INC.
CONFLICT MINERALS REPORT
FOR THE REPORTING PERIOD
JANUARY 1, 2023 TO DECEMBER 31, 2023
INTRODUCTION
This Conflict Minerals Report for Smith & Wesson Brands, Inc. (SWBI, Company, we, or our) is provided for the reporting period January 1, 2023 to December 31, 2023, and is presented to comply with Rule 13p-1 under the Securities Exchange Act of 1934 (the Rule), and the Public Statement on the Effect of the Recent Court of Appeals Decision on the Conflict Minerals Rule issued by the Director of the Division of Corporation Finance of the Securities and Exchange Commission on April 29, 2014 (the SEC Statement). The Rule was adopted by the Securities and Exchange Commission (the SEC) to implement reporting and disclosure requirements related to conflict minerals as directed by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Rule imposes certain reporting obligations on SEC registrants whose manufactured products contain tin, tantalum, tungsten, or gold (3TG, also defined by the Rule as conflict minerals), and who have reason to believe that the products they manufacture, or contract to manufacture, contain conflict minerals that are necessary to the functionality or production of those products. If the SEC registrant has reason to believe that any conflict minerals may have originated in the Democratic Republic of the Congo or an adjoining country, or is unable to determine the country of origin of those conflict minerals, the SEC registrant is required to submit a Conflict Minerals Report to the SEC that includes a description of the measures it took to exercise due diligence on the conflict minerals source and chain of custody.
COMPANY BACKGROUND
SWBI is a U.S.-based leader in firearm manufacturing and design, delivering a broad portfolio of quality handgun, long gun, and suppressor products to the global consumer and professional markets under the iconic Smith & Wesson® and Gemtech® brands. We also provide manufacturing services, including forging, machining and precision plastic injection molding services.
A copy of our Conflict Mineral Policy is available on our website at https://ir.smith-wesson.com/corporate-governance/conflict-minerals.
REPORT
This Conflict Minerals Report is provided for the reporting period January 1, 2023 to December 31, 2023 in accordance with the Rule, the instructions to Form SD and the SEC Statement. Please refer to the Rule, Form SD and Securities Exchange Release No. 34-67716 for definitions to the terms used in this Report, unless otherwise defined herein.
In accordance with the Rule and the instructions to Form SD, we undertook due diligence to determine the source of origin of any necessary conflict minerals used in products we manufacture or contract to manufacture. In conducting due diligence, we implemented the Organization for Economic Co-operation and Development Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas (including the Supplements on Tin, Tantalum and Tungsten, and the Gold Supplement) (Third Edition OECD 2016) (OECD Guidance), an internationally recognized due diligence framework.
Design of Our Due Diligence Measures
Our conflict minerals due diligence measures have been designed to conform with the OECD Guidance, as applicable, for tin, tantalum, tungsten, gold and downstream companies (as the term is defined in the OECD Guidance), in all material respects. We do not make direct purchases of raw ore or unrefined conflict minerals in the Covered Countries. We designed our due diligence measures to:
1. | design and implement strategies to determine the presence of conflict minerals in our products; |
2. | establish management systems for supply chain due diligence and reporting compliance; |
3. | identify and assess conflict minerals content in our supply chain; |
4. | identify and mitigate any risk for potential non-compliance with the Rule; and |
5. | report on our conflict minerals supply chain due diligence activities, as required by the Rule. |
Due Diligence Measures Performed
Our due diligence measures for the applicable reporting period included the following activities:
1. | We updated our product taxonomy for the products that were subject to reporting in the applicable reporting period, and reviewed additions with our appropriate personnel, to determine which products or components have the possibility of containing necessary conflict minerals. |
2. | We surveyed any suppliers involved with products or components we determined could possibly contain necessary conflict minerals, to ascertain for each of these conflict minerals (i) whether the product or component contained necessary conflict minerals, (ii) the smelter or refiner where it was processed, (iii) its country of origin and (iv) its mine of origin. |
3. | Where possible, we leveraged the due diligence conducted on smelters and refiners by the Responsible Minerals Initiative (the RMI), and its Responsible Minerals Assurance Process (the RMAP), by comparing the names of the smelters identified by our suppliers to those identified as compliant in the RMAP. The RMAP uses independent private sector auditors to audit the source, including mines of origin, and chain of custody of the conflict minerals used by smelters and refiners that agree to participate in the RMAP. The smelters and refiners that are found to be RMAP compliant are those for which the independent auditor has verified that the smelters or refiners conflict minerals originated from conflict free mines and trading in the Democratic Republic of the Congo or any of its adjoining countries. A list of smelters identified to date, and associated information, is provided as Attachment A. |
Determination; Continuing Mitigation Efforts
After conducting good faith due diligence on the presence of necessary conflict minerals in certain of our products, we have been unable to identify all smelters, refiners in our supply chain and the ultimate source of origin of such minerals. We are continuing our efforts to identify and mitigate risks in our supply chain and to obtain complete information from our upstream suppliers. Our efforts are necessarily dependent upon the willingness of our supply chain participants to cooperate and assist in this endeavor and there can be no guarantee that we will be able to obtain adequate and reliable information upon which to base our analysis.
Attachment A
SMELTER DETAILS
Smelter Name |
Smelter Country |
3TG | ||
Asahi Refining Canada Ltd. | Canada | Gold | ||
PT Timah Tbk Mentok | Indonesia | Tin | ||
Mitsui Mining and Smelting Co., Ltd. | Japan | Gold | ||
Hengyang King Xing Lifeng New Materials Co., Ltd. | China | Tantalum | ||
PT Refined Bangka Tin | Indonesia | Tin | ||
Global Tungsten & Powders LLC | United States | Tungsten | ||
PX Precinox S.A. | Switzerland | Gold | ||
PT Bangka Tin Industry | Indonesia | Tin | ||
CV Venus Inti Perkasa | Indonesia | Tin | ||
Mineracao Taboca S.A. | Brazil | Tin | ||
TANIOBIS GmbH | Germany | Tantalum | ||
Jiangwu H.C. Starck Tungsten Products Co., Ltd. | China | Tungsten | ||
Aurubis Beerse | Belgium | Tin | ||
Agosi AG | Germany | Gold | ||
Gejiu Kai Meng Industry and Trade LLC | China | Tin | ||
Hunan Shizhuyuan Nonferrous Metals Co., Ltd. Chenzhou Tungsten Products Branch | China | Tungsten | ||
Guangdong Hanhe Non-Ferrous Metal Co., Ltd. | China | Tin | ||
Global Advanced Metals Boyertown | United States | Tantalum | ||
Japan New Metals Co., Ltd. | Japan | Tungsten | ||
PT Mitra Stania Prima | Indonesia | Tin | ||
Metalor Technologies (Singapore) Pte., Ltd. | Singapore | Gold | ||
PT Tinindo Inter Nusa | Indonesia | Tin | ||
PT Babel Inti Perkasa | Indonesia | Tin | ||
Mineracao Taboca S.A. | Brazil | Tantalum | ||
PT Timah Tbk Kundur | Indonesia | Tin | ||
Sumitomo Metal Mining Co., Ltd. | Japan | Gold | ||
Eco-System Recycling Co., Ltd. East Plant | Japan | Gold | ||
F&X Electro-Materials Ltd. | China | Tantalum | ||
C. Hafner GmbH + Co. KG | Germany | Gold | ||
Ishifuku Metal Industry Co., Ltd. | Japan | Gold | ||
Alpha | United States | Tin | ||
PT Bukit Timah | Indonesia | Tin | ||
TANIOBIS Smelting GmbH & Co. KG | Germany | Tungsten | ||
Umicore S.A. Business Unit Precious Metals Refining | Belgium | Gold | ||
XIMEI RESOURCES (GUANGDONG) LIMITED | China | Tantalum | ||
Dowa | Japan | Tin | ||
Nadir Metal Rafineri San. Ve Tic. A.S. | Turkey | Gold | ||
Valcambi S.A. | Switzerland | Gold | ||
LS-NIKKO Copper Inc. | Korea, Republic of | Gold | ||
Solar Applied Materials Technology Corp. | Taiwan | Gold | ||
TANIOBIS Smelting GmbH & Co. KG | Germany | Tantalum | ||
Shandong Zhaojin Gold & Silver Refinery Co., Ltd. | China | Gold | ||
Yunnan Chengfeng Non-ferrous Metals Co., Ltd. | China | Tin | ||
Taki Chemical Co., Ltd. | Japan | Tantalum | ||
Niagara Refining LLC | United States | Tungsten | ||
EM Vinto | Bolivia | Tin | ||
Guangdong Xianglu Tungsten Co., Ltd. | China | Tungsten | ||
CV Ayi Jaya | Indonesia | Tin | ||
Telex Metals | United States | Tantalum |
Thaisarco | Thailand | Tin | ||
Umicore Precious Metals Thailand | Thailand | Gold | ||
Global Advanced Metals Aizu | Japan | Tantalum | ||
Western Australian Mint (T/a The Perth Mint) | Australia | Gold | ||
Asahi Refining USA Inc. | United States | Gold | ||
H.C. Starck Tungsten GmbH | Germany | Tungsten | ||
White Solder Metalurgia e Mineracao Ltda. | Brazil | Tin | ||
Hunan Jintai New Material Co., Ltd. | China | Tungsten | ||
Jiangxi Copper Co., Ltd. | China | Gold | ||
Aurubis Berango | Spain | Tin | ||
Metalor Technologies (Hong Kong) Ltd. | China | Gold | ||
Rui Da Hung | Taiwan | Tin | ||
Heimerle + Meule GmbH | Germany | Gold | ||
United Precious Metal Refining, Inc. | United States | Gold | ||
PT Artha Cipta Langgeng | Indonesia | Tin | ||
Metalurgica Met-Mex Penoles S.A. De C.V. | Mexico | Gold | ||
Ulba Metallurgical Plant JSC | Kazakhstan | Tantalum | ||
Materion | United States | Gold | ||
JX Nippon Mining & Metals Co., Ltd. | Japan | Gold | ||
Aida Chemical Industries Co., Ltd. | Japan | Gold | ||
PT ATD Makmur Mandiri Jaya | Indonesia | Tin | ||
Magnus Minerais Metais e Ligas Ltda. | Brazil | Tin | ||
Shandong Gold Smelting Co., Ltd. | China | Gold | ||
Gold Refinery of Zijin Mining Group Co., Ltd. | China | Gold | ||
Operaciones Metalurgicas S.A. | Bolivia | Tin | ||
Ningxia Orient Tantalum Industry Co., Ltd. | China | Tantalum | ||
Zhongyuan Gold Smelter of Zhongjin Gold Corporation | China | Gold | ||
China Tin Group Co., Ltd. | China | Tin | ||
Xiamen Tungsten Co., Ltd. | China | Tungsten | ||
Tin Smelting Branch of Yunnan Tin Co., Ltd. | China | Tin | ||
Aurubis AG | Germany | Gold | ||
Minsur | Peru | Tin | ||
Nihon Material Co., Ltd. | Japan | Gold | ||
PT Bangka Prima Tin | Indonesia | Tin | ||
PT Sariwiguna Binasentosa | Indonesia | Tin | ||
Kennecott Utah Copper LLC | United States | Gold | ||
Rand Refinery (Pty) Ltd. | South Africa | Gold | ||
Ohura Precious Metal Industry Co., Ltd. | Japan | Gold | ||
AMG Brasil | Brazil | Tantalum | ||
MKS PAMP SA | Switzerland | Gold | ||
Kennametal Huntsville | United States | Tungsten | ||
Wolfram Bergbau und Hutten AG | Austria | Tungsten | ||
Chimet S.p.A. | Italy | Gold | ||
O.M. Manufacturing Philippines, Inc. | Philippines | Tin | ||
Changsha South Tantalum Niobium Co., Ltd. | China | Tantalum | ||
PT Belitung Industri Sejahtera | Indonesia | Tin | ||
O.M. Manufacturing (Thailand) Co., Ltd. | Thailand | Tin | ||
Yokohama Metal Co., Ltd. | Japan | Gold | ||
Heraeus Metals Hong Kong Ltd. | China | Gold | ||
Matsuda Sangyo Co., Ltd. | Japan | Gold | ||
Istanbul Gold Refinery | Turkey | Gold | ||
A.L.M.T. TUNGSTEN Corp. | Japan | Tungsten | ||
Tanaka Kikinzoku Kogyo K.K. | Japan | Gold | ||
Melt Metais e Ligas S.A. | Brazil | Tin | ||
PT Stanindo Inti Perkasa | Indonesia | Tin |
PT Aneka Tambang (Persero) Tbk | Indonesia | Gold | ||
PT Premium Tin Indonesia | Indonesia | Tin | ||
Resind Industria e Comercio Ltda. | Brazil | Tin | ||
AngloGold Ashanti Corrego do Sitio Mineracao | Brazil | Gold | ||
Metalor USA Refining Corporation | United States | Gold | ||
Royal Canadian Mint | Canada | Gold | ||
Metalor Technologies S.A. | Switzerland | Gold | ||
Jiujiang Tanbre Co., Ltd. | China | Tantalum | ||
Asahi Pretec Corp. | Japan | Gold | ||
Guangdong Rising Rare Metals-EO Materials Ltd. | China | Tantalum | ||
Boliden AB | Sweden | Gold | ||
PT Prima Timah Utama | Indonesia | Tin | ||
Mitsui Mining and Smelting Co., Ltd. | Japan | Tantalum | ||
Kojima Chemicals Co., Ltd. | Japan | Gold | ||
JiuJiang JinXin Nonferrous Metals Co., Ltd. | China | Tantalum | ||
Materion Newton Inc. | United States | Tantalum | ||
Heraeus Germany GmbH Co. KG | Germany | Gold | ||
Tokuriki Honten Co., Ltd. | Japan | Gold | ||
Ganzhou Seadragon W & Mo Co., Ltd. | China | Tungsten | ||
Yamakin Co., Ltd. | Japan | Gold | ||
Mitsubishi Materials Corporation | Japan | Gold | ||
Asaka Riken Co., Ltd. | Japan | Gold | ||
CCR Refinery - Glencore Canada Corporation | Canada | Gold | ||
Masan High-Tech Materials | Vietnam | Tungsten | ||
PT Aries Kencana Sejahtera | Indonesia | Tin | ||
Argor-Heraeus S.A. | Switzerland | Gold | ||
SEMPSA Joyeria Plateria S.A. | Spain | Gold | ||
Malaysia Smelting Corporation (MSC) | Malaysia | Tin | ||
PT Panca Mega Persada | Indonesia | Tin | ||
Mitsubishi Materials Corporation | Japan | Tin | ||
D Block Metals, LLC | United States | Tantalum | ||
TANIOBIS Co., Ltd. | Thailand | Tantalum | ||
Metallic Resources, Inc. | United States | Tin | ||
Dowa | Japan | Gold | ||
Chongyi Zhangyuan Tungsten Co., Ltd. | China | Tungsten | ||
PT Sukses Inti Makmur | Indonesia | Tin | ||
Gejiu Non-Ferrous Metal Processing Co., Ltd. | China | Tin | ||
TANIOBIS Japan Co., Ltd. | Japan | Tantalum | ||
Fenix Metals | Poland | Tin | ||
Xiamen Tungsten (H.C.) Co., Ltd. | China | Tungsten | ||
Bangko Sentral ng Pilipinas (Central Bank of the Philippines) | Philippines | Gold | ||
Shandong Zhaojin Gold & Silver Refinery Co., Ltd. | China | Gold | ||
Malaysia Smelting Corporation (MSC) | Malaysia | Tin | ||
PT Timah Tbk Mentok | Indonesia | Tin | ||
Gejiu Non-Ferrous Metal Processing Co., Ltd. | China | Tin | ||
Yunnan Chengfeng Non-ferrous Metals Co., Ltd. | China | Tin |