M&A - Science Applications International Corp

Form Type: 11-K

Filing Date: 2025-06-18

Corporate Action: Acquisition

Type: Update

Accession Number: 000157112325000153

Filing Summary: The document presents the annual report for the Science Applications International Corporation Retirement Plan for the fiscal year ended December 31, 2024. The report includes financial statements, an opinion from the independent registered public accounting firm Grant Thornton LLP confirming the fairness of the financial statements, and details about the Plan's structure as a defined contribution plan compliant with ERISA. It highlights the significant increase in net assets available for benefits from $5,014,854 in 2023 to $5,420,551 in 2024, driven by net investment income and participant contributions. The Plan underwent a significant amendment to incorporate the merger of the Koverse, Inc. 401(k) Plan effective March 1, 2024, following the Company's acquisition of Koverse, Inc. in 2021. The report includes details regarding participant contributions, employer contributions, investment returns, and notes receivable from participants, along with accounting policies and related-party transactions.