What the changes say
- Corsair added significant new risk disclosures covering artificial intelligence technology regulation and internal control over financial reporting.
- The company also expanded disclosures on geopolitical conflicts, supply chain dependencies, and conflict minerals compliance.
What changed since the prior 10-K
New
- New
We face intense competition, and if we do not compete effectively, we could lose market share, demand for our products could decline and our business may be seriously harmed
Intense competition or a decline in the growth of the gaming and content creation industries could harm our business.
- New
Changes in trade policy and regulations in the U.S. and other countries, including changes in trade agreements and the imposition of tariffs, as well as retaliatory responses, may have adverse impacts on our business, results of operations and financial condition
Trade policies, tariffs, currency fluctuations, and seasonal sales spikes can negatively impact our financial condition.
- NewRisks Related to Our Business
Our competitive position and success in the market depend to a significant degree upon our ability to build and maintain the strength of our brands among gaming enthusiasts and creators, and any failure to build and maintain our brands may seriously harm our business
Failing to build and maintain our brands, or negative public perception of associated celebrities and influencers, could harm our business.
- NewRisks Related to Our Business
cost and adverse outcomes of litigation, governmental proceedings or any proceedings to protect our brand or other intellectual property
Litigation costs and broader economic uncertainty, including global pandemics and currency fluctuations, could adversely affect our business.
- NewRisks Related to Our Business
Political instability, global conflict and ongoing wars or military actions could adversely affect our business, financial condition and results of operations
Global conflicts such as those in Ukraine and the Middle East create market disruptions, commodity volatility, and cyberattack risks.
- NewRisks Related to Our Business
material and adverse effect on our business and results of operations
We lack long-term supply agreements and rely heavily on third-party manufacturers, making us vulnerable to supply disruptions and production delays.
- NewRisks Related to Our Business
adverse tax, internal control or financial reporting impacts
Acquisitions, strategic partnerships, and foreign investments involve integration risks, currency fluctuations, and potential goodwill impairment charges.
- NewRisks Related to Our Business
development efforts to develop competing products, which could impair our ability to compete effectively and adversely affect our business, reputation and financial condition
Evolving federal, state, and foreign regulatory frameworks for AI technologies may impose new transparency and compliance requirements.
- NewRisks Related to Our Business
We may recognize restructuring and impairment charges in future periods, which will adversely affect our operating results and could seriously harm our business
Future restructuring initiatives could lead to impairment charges, operational disruptions, and the loss of key personnel.
- NewRisks Related to Our Business
environmental laws and regulations or the effect of any claims or liability concerning or resulting from noncompliance or environmental contamination could also seriously harm our business
Compliance with conflict minerals reporting requirements under the Dodd-Frank Act and international policies increases our operational costs.
- NewRisks Related to Our Common Stock
Corsair Gaming, Inc. | 2025 Form 10-K | 37
Failures in our internal controls over financial reporting could harm our reputation and depress our stock price.
Dropped
- Dropped
Our growth prospects are, to a certain extent, connected with the ongoing growth of the gaming industry, including live game streaming and esports, and any decline or reduction in the growth or popularity of the gaming industry may seriously harm our business
- DroppedRisks Related to Our Business
our research and development and the products we sell failing to satisfy the increasing high-performance requirements of competitive gamers or streamers
- DroppedRisks Related to Our Business
liabilities that are denominated in foreign currencies and changes in the value of the U.S. dollar could result in significant increases in our expenses that may seriously harm our business
Gaming industry growth and seasonality.
- DroppedRisks Related to Our Business
The ongoing wars in Ukraine and the Middle East could adversely affect our business, financial condition and results of operations
- DroppedRisks Related to Our Business
requirements that pose compliance challenges in existing markets as well as new international markets that we seek to enter, potentially requiring additional investment in resources for compliance programs, and impacting business operations and availability of previously available data
- DroppedRisks Related to Our Business
Depending on market and economic conditions in future periods, we may implement restructuring initiatives. As a result of these initiatives, we could incur restructuring charges, lose key personnel and experience disruptions in our operations and difficulties in delivering our products
- DroppedRisks Related to Our Business
Our future success depends to a large degree on our ability to defend the Corsair brand and product family brands such as SCUF, Elgato, Fanatec and iCUE from infringement and, if we are unable to protect our brand and other intellectual property, our business may be seriously harmed
- DroppedRisks Related to Our Common Stock
EagleTree beneficially own at least 20% and less than 30% of our common stock and one director as long as affiliates of EagleTree beneficially own at least 10% and less than 20% of our common stock
Reworded
- 100% rewritten
Our competitive position and success in the market depend to a significant degree upon our ability to build and maintain the strength of our brands among gaming enthusiasts and creators, and any failure to build and maintain our brands may seriously harm our business
Removed the prior year detailed financial metrics and expense offset commentary regarding brand investments.
- 100% rewritten
We are controlled by a single stockholder, EagleTree, whose interests in our business may be different than yours
Shifted focus from specific ownership percentages of EagleTree to general controlled company status under Nasdaq rules.
- 100% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 13
Replaced streaming growth factors with specific warnings on semiconductor shortages and increased memory component prices.
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 11
- 100% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 15
Updated facility disruption risks to explicitly name specific geopolitical conflicts and macroeconomic fluctuations.
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 18
- 100% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 17
Replaced R&D expense figures and inventory forecasting risks with Bay Area hiring competition and R&D outsourcing to Ukraine.
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 19
- 100% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 19
Added specific references to political instability in Taiwan and Southeast Asia affecting critical component sourcing.
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 21
- 100% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 27
Replaced retailer financial distress risks with detailed EU data transfer regulatory compliance and enforcement uncertainties.
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 27
- 100% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 30
Replaced anti-takeover and stockholder meeting provisions with risks tied to open source software compliance.
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 32
- 100% rewrittenRisks Related to Our Common Stock
We are controlled by a single stockholder, EagleTree, whose interests in our business may be different than yours
Was: We are controlled by a single stockholder, EagleTree, whose interests in our business may be different than yours
- 100% rewrittenRisks Related to Our Common Stock
Corsair Gaming, Inc. | 2025 Form 10-K | 33
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 33
- 100% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 10
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 8
- 100% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 23
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 23
- 100% rewrittenRisks Related to Our Common Stock
Corsair Gaming, Inc. | 2025 Form 10-K | 35
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 35
- 100% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 11
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 9
- 100% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 26
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 26
- 100% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 12
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 10
- 100% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 14
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 14
- 98% rewrittenRisks Related to Our Common Stock
Corsair Gaming, Inc. | 2025 Form 10-K | 34
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 34
- 91% rewrittenRisks Related to Our Business
We use AI in our business, and challenges relating to the development and use of AI, including generative AI, may result in competitive harm, reputational damage, and legal liability, and adversely affect our results of operations
Was: We use AI in our business, and challenges relating to the development and use of AI, including generative AI, could result in competitive harm, reputational harm, and legal liability, and adversely affect our results of operations
- 87% rewrittenRisks Related to Our Business
Our results of operations are subject to substantial quarterly and annual fluctuations, which may adversely affect the market price of our common stock
- 81% rewrittenRisks Related to Our Business
Some of our products rely on open source software, which may expose us to additional risks and could impact our proprietary software and products
Was: Some of our products contain open source software, which may pose particular risks to our proprietary software and products
- 77% rewrittenRisks Related to Our Common Stock
If securities or industry analysts do not publish or cease publishing research or reports about our business, if they adversely change their recommendations regarding our shares or if our operating results do not meet their expectations, the market price of our common stock could decline
- 74% rewrittenRisks Related to Our Business
Technological developments or other changes in our industry could render our products less competitive or obsolete, which may seriously harm our business
- 73% rewrittenRisks Related to Our Business
Indebtedness and the terms of our credit facilities may impair our ability to respond to changing business and economic conditions and may seriously harm our business
- 70% rewrittenRisks Related to Our Common Stock
Future sales of our common stock in the public market could cause our stock price to fall
- 67% rewrittenRisks Related to Our Business
We may be adversely affected by the financial condition of retailers and distributors to whom we sell our products and may also be adversely affected by the financial condition of our competitors
- 66% rewrittenRisks Related to Our Business
While we operate a facility in Taiwan that assembles, tests and packages all of our DRAM modules and certain other products, we rely upon manufacturers in China and Southeast Asia to produce a significant portion of our other products, which exposes us to risks that may seriously harm our business
- 66% rewrittenRisks Related to Our Business
One of our strategies is to grow through acquisitions, which could result in operating difficulties, dilution to our stockholders and other seriously harmful consequences
- 64% rewrittenRisks Related to Our Business
We are subject to taxation-related risks in multiple jurisdictions, and the adoption and interpretation of new tax legislation, tax regulations, tax rulings, or exposure to additional tax liabilities could materially affect our business, financial condition and results of operations
- 64% rewrittenRisks Related to Our Business
Corsair Gaming, Inc. | 2025 Form 10-K | 29
Was: Corsair Gaming, Inc. | 2024 Form 10-K | 28
- 62% rewrittenRisks Related to Our Common Stock
Our amended and restated certificate of incorporation and amended and restated bylaws contain antitakeover provisions that could delay, deter or prevent takeover attempts that stockholders may consider favorable or attempts to replace or remove our management that would be beneficial to our stockholders
- 57% rewrittenRisks Related to Our Business
We are subject to various environmental laws, conflict mineral-related provisions of the Dodd-Frank Act and other regulations that could impose substantial costs upon us and may seriously harm our business
- 56% rewrittenRisks Related to Our Business
System security and data protection breaches, as well as cyber-attacks, could disrupt our operations, reduce our expected revenue and increase our expenses, which may seriously harm our business
- 52% rewrittenRisks Related to Our Business
Currency exchange rate fluctuations could increase our manufacturing costs, or result in our products becoming relatively more expensive to our overseas customers, either of which may seriously harm our business
- 49% rewrittenRisks Related to Our Business
If we are unable to integrate our products and proprietary software with third-party hardware, operating system software, including open source systems, and other products, the functionality of our products would be adversely affected, which may seriously harm our business
Was: If we are unable to integrate our products and proprietary software with third-party hardware, operating system software and other products, the functionality of our products would be adversely affected, which may seriously harm our business
- 47% rewrittenRisks Related to Our Common Stock
Failure to comply with the U.S. Foreign Corrupt Practices Act, other applicable anti-corruption and anti-bribery laws, and applicable economic and trade sanctions and export control laws could subject us to penalties and other adverse consequences that may seriously harm our business
- 42% rewrittenRisks Related to Our Business
We rely on highly skilled personnel and if we are unable to attract, retain or motivate key personnel or hire qualified personnel our business may be seriously harmed
- 41% rewrittenRisks Related to Our Business
Sales to a limited number of customers represent a significant portion of our net revenue, and the loss of one or more of our key customers may seriously harm our business
- 40% rewritten
Our success and growth depend on our ability to continuously improve our existing products and develop and successfully market new products. If we are unable to do so, demand for our current products may decline and new products we introduce may not be successful
- 32% rewrittenRisks Related to Our Common Stock
Our business could be negatively impacted by corporate citizenship and ESG matters and/or our reporting of such matters
- 32% rewrittenRisks Related to Our Business
our costs may be increased and deliveries of our products may be decreased or delayed by trade restrictions; and
- 28% rewrittenRisks Related to Our Business
Our sales are subject to seasonal fluctuations, which may seriously harm our business. Total unit shipments of our products tend to be higher during the third and fourth quarters of the year
- 27% rewrittenRisks Related to Our Business
A significant portion of our net revenue is generated by sales of DRAM modules and any significant decrease in the average selling prices of our DRAM modules would seriously harm our business
- 22% rewrittenRisks Related to Our Common Stock
Our amended and restated certificate of incorporation contains a provision renouncing our interest and expectancy in certain corporate opportunities
- 20% rewrittenRisks Related to Our Common Stock
Our amended and restated certificate of incorporation and amended and restated bylaws provide that we will indemnify our directors and officers, in each case to the fullest extent permitted by Delaware law
All 83 risk factors
Headings as the filing states them, in filing order.
Other
- 01Our competitive position and success in the market depend to a significant degree upon our ability to build and maintain the strength of our brands among gaming enthusiasts and creators, and any failure to build and maintain our brands may seriously harm our business100% rewritten
- 02Our success and growth depend on our ability to continuously improve our existing products and develop and successfully market new products. If we are unable to do so, demand for our current products may decline and new products we introduce may not be successful40% rewritten
- 03We face intense competition, and if we do not compete effectively, we could lose market share, demand for our products could decline and our business may be seriously harmedNew
- 04Changes in trade policy and regulations in the U.S. and other countries, including changes in trade agreements and the imposition of tariffs, as well as retaliatory responses, may have adverse impacts on our business, results of operations and financial conditionNew
- 05We are controlled by a single stockholder, EagleTree, whose interests in our business may be different than yours100% rewritten
Risks Related to Our Business
- 06Our competitive position and success in the market depend to a significant degree upon our ability to build and maintain the strength of our brands among gaming enthusiasts and creators, and any failure to build and maintain our brands may seriously harm our businessNew
- 07Corsair Gaming, Inc. | 2025 Form 10-K | 10100% rewritten
- 08Corsair Gaming, Inc. | 2025 Form 10-K | 11100% rewritten
- 09changes in consumer demographics, tastes and preferences
- 10Corsair Gaming, Inc. | 2025 Form 10-K | 12100% rewritten
- 11Currency exchange rate fluctuations could increase our manufacturing costs, or result in our products becoming relatively more expensive to our overseas customers, either of which may seriously harm our business52% rewritten
- 12Corsair Gaming, Inc. | 2025 Form 10-K | 13100% rewritten
- 13Our sales are subject to seasonal fluctuations, which may seriously harm our business. Total unit shipments of our products tend to be higher during the third and fourth quarters of the year28% rewritten
- 14Our results of operations are subject to substantial quarterly and annual fluctuations, which may adversely affect the market price of our common stock87% rewritten
- 15Corsair Gaming, Inc. | 2025 Form 10-K | 14100% rewritten
- 16cost and adverse outcomes of litigation, governmental proceedings or any proceedings to protect our brand or other intellectual propertyNew
- 17Corsair Gaming, Inc. | 2025 Form 10-K | 15100% rewritten
- 18changes in business cycles that affect the markets in which we sell our products
- 19Cloud computing may seriously harm our business
- 20Conditions in the retail and consumer electronics markets may significantly affect our business and could have an adverse effect on our net revenue
- 21DRAM integrated circuits account for most of the cost of producing our DRAM modules and fluctuations in the market price and availability of DRAM integrated circuits may have a material impact on our net revenue and gross profit
- 22Political instability, global conflict and ongoing wars or military actions could adversely affect our business, financial condition and results of operationsNew
- 23If we lose or are unable to attract and retain key management, our ability to compete could be seriously harmed and our financial performance could suffer
- 24We rely on highly skilled personnel and if we are unable to attract, retain or motivate key personnel or hire qualified personnel our business may be seriously harmed42% rewritten
- 25Corsair Gaming, Inc. | 2025 Form 10-K | 17100% rewritten
- 26A significant portion of our net revenue is generated by sales of DRAM modules and any significant decrease in the average selling prices of our DRAM modules would seriously harm our business27% rewritten
- 27Sales to a limited number of customers represent a significant portion of our net revenue, and the loss of one or more of our key customers may seriously harm our business41% rewritten
- 28material and adverse effect on our business and results of operationsNew
- 29If our proprietary iCUE software or Elgato streaming software suite have any “bugs” or glitches, or if we are unable to update the iCUE software or Elgato streaming software suite to incorporate innovations, our business may be seriously harmed
- 30The need to continuously develop new products and product improvements increases the risk that our products will contain defects or fail to meet specifications, which may increase our warranty costs and product returns, lead to recalls of products, damage our reputation and seriously harm our business
- 31While we operate a facility in Taiwan that assembles, tests and packages all of our DRAM modules and certain other products, we rely upon manufacturers in China and Southeast Asia to produce a significant portion of our other products, which exposes us to risks that may seriously harm our business66% rewritten
- 32Corsair Gaming, Inc. | 2025 Form 10-K | 19100% rewritten
- 33our costs may be increased and deliveries of our products may be decreased or delayed by trade restrictions; and32% rewritten
- 34If we do not successfully coordinate the worldwide manufacturing and distribution of our products, we could lose sales
- 35Our operating results are particularly sensitive to freight costs, and our costs may increase significantly if we are unable to ship and transport finished products efficiently and economically across long distances and international borders, which may seriously harm our business
- 36Technological developments or other changes in our industry could render our products less competitive or obsolete, which may seriously harm our business74% rewritten
- 37Our indemnification obligations to our customers and suppliers for intellectual property infringement claims could require us to pay substantial amounts and may seriously harm our business
- 38If we are unable to integrate our products and proprietary software with third-party hardware, operating system software, including open source systems, and other products, the functionality of our products would be adversely affected, which may seriously harm our business49% rewritten
- 39One of our strategies is to grow through acquisitions, which could result in operating difficulties, dilution to our stockholders and other seriously harmful consequences66% rewritten
- 40adverse tax, internal control or financial reporting impactsNew
- 41Our sponsorship of individuals, teams and events within the gaming community is subject to numerous risks that may seriously harm our business
- 42Indebtedness and the terms of our credit facilities may impair our ability to respond to changing business and economic conditions and may seriously harm our business73% rewritten
- 43Corsair Gaming, Inc. | 2025 Form 10-K | 23100% rewritten
- 44We conduct our operations and sell our products internationally and the effect of business, legal, geopolitical and economic risks associated with international operations may seriously harm our business
- 45We are subject to taxation-related risks in multiple jurisdictions, and the adoption and interpretation of new tax legislation, tax regulations, tax rulings, or exposure to additional tax liabilities could materially affect our business, financial condition and results of operations64% rewritten
- 46the effects of acquisitions
- 47Our ability to utilize our net operating losses (“NOLs”) carryforwards and certain other tax attributes may be limited
- 48System security and data protection breaches, as well as cyber-attacks, could disrupt our operations, reduce our expected revenue and increase our expenses, which may seriously harm our business56% rewritten
- 49Corsair Gaming, Inc. | 2025 Form 10-K | 26100% rewritten
- 50Corsair Gaming, Inc. | 2025 Form 10-K | 27100% rewritten
- 51We use AI in our business, and challenges relating to the development and use of AI, including generative AI, may result in competitive harm, reputational damage, and legal liability, and adversely affect our results of operations91% rewritten
- 52development efforts to develop competing products, which could impair our ability to compete effectively and adversely affect our business, reputation and financial conditionNew
- 53We may be adversely affected by the financial condition of retailers and distributors to whom we sell our products and may also be adversely affected by the financial condition of our competitors67% rewritten
- 54Our online operations are subject to numerous risks that may seriously harm our business
- 55We may recognize restructuring and impairment charges in future periods, which will adversely affect our operating results and could seriously harm our businessNew
- 56Corsair Gaming, Inc. | 2025 Form 10-K | 2964% rewritten
- 57Some of our products rely on open source software, which may expose us to additional risks and could impact our proprietary software and products81% rewritten
- 58Corsair Gaming, Inc. | 2025 Form 10-K | 30100% rewritten
- 59We are, have in the past been, and may in the future be, subject to intellectual property infringement claims, which are costly to defend, could require us to pay damages or royalties and could limit our ability to use certain technologies in the future
- 60We and our contract manufacturers may be adversely affected by seismic activity or other natural disasters, and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster
- 61We are subject to various environmental laws, conflict mineral-related provisions of the Dodd-Frank Act and other regulations that could impose substantial costs upon us and may seriously harm our business57% rewritten
- 62environmental laws and regulations or the effect of any claims or liability concerning or resulting from noncompliance or environmental contamination could also seriously harm our businessNew
Risks Related to Our Common Stock
- 63We are controlled by a single stockholder, EagleTree, whose interests in our business may be different than yours100% rewritten
- 64We are a “controlled company” within the meaning of the Nasdaq Global Select Market rules and, as a result, qualify for, and intend to rely on, exemptions from certain corporate governance requirements. You will not have the same protections afforded to stockholders of companies that are subject to such requirements
- 65our director nominations be made, or recommended to the full board of directors, by our independent directors or by a nominations committee that is composed entirely of independent directors and that we adopt a written charter or board resolution addressing the nominations process
- 66The market price of our common stock may be volatile and may decline
- 67changes in general market and economic conditions
- 68An active, liquid and orderly market for our common stock may not be maintained
- 69Future sales of our common stock in the public market could cause our stock price to fall70% rewritten
- 70Corsair Gaming, Inc. | 2025 Form 10-K | 33100% rewritten
- 71If we sell shares of our common stock in future financings, stockholders may experience immediate dilution and, as a result, our stock price may decline
- 72Our amended and restated certificate of incorporation and amended and restated bylaws contain antitakeover provisions that could delay, deter or prevent takeover attempts that stockholders may consider favorable or attempts to replace or remove our management that would be beneficial to our stockholders62% rewritten
- 73Corsair Gaming, Inc. | 2025 Form 10-K | 3498% rewritten
- 74Our amended and restated certificate of incorporation and amended and restated bylaws provide that we will indemnify our directors and officers, in each case to the fullest extent permitted by Delaware law20% rewritten
- 75We do not currently intend to pay dividends on our common stock, and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of our common stock
- 76If securities or industry analysts do not publish or cease publishing research or reports about our business, if they adversely change their recommendations regarding our shares or if our operating results do not meet their expectations, the market price of our common stock could decline77% rewritten
- 77Corsair Gaming, Inc. | 2025 Form 10-K | 35100% rewritten
- 78Our amended and restated certificate of incorporation contains a provision renouncing our interest and expectancy in certain corporate opportunities22% rewritten
- 79Failure to comply with other laws and governmental regulations may seriously harm our business
- 80Failure to comply with the U.S. Foreign Corrupt Practices Act, other applicable anti-corruption and anti-bribery laws, and applicable economic and trade sanctions and export control laws could subject us to penalties and other adverse consequences that may seriously harm our business47% rewritten
- 81Corsair Gaming, Inc. | 2025 Form 10-K | 37New
- 82We incur significant expenses as a result of being a public company, and our management needs to devote substantial time to compliance with our public company responsibilities and corporate governance practices
- 83Our business could be negatively impacted by corporate citizenship and ESG matters and/or our reporting of such matters32% rewritten
Other Corsair Gaming 10-Ks
- FY2024 10-K risk factors80 risks
Corsair Gaming relies heavily on Amazon and third-party hardware like GPUs and CPUs to drive hardware and DRAM sales.
Filed Feb 26, 2025
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.