secwatch.observer — SEC 8-K summary
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Issuer:     SUPERIOR GROUP OF COMPANIES, INC. (SGC)
CIK:        0000095574
Form:       8-K
Filed at:   2022-03-23T23:59:59+00:00
Accession:  0001437749-22-006959
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 4.02
LLM model:  deepseek-v4-flash:cloud@v2

Superior Group restates Q2/Q3 2021 financials due to $1.8M deferred tax error
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- Failed to reverse deferred tax liabilities from pension plan termination; $6.9M charge booked in Q2 2021.
- Additional tax benefit of ~$1.8M; balance sheet impact: deferred tax assets +$0.4M, deferred tax liabilities -$1.4M.
- All adjustments are non-cash; Company will file amendments to Form 10-Qs for Q2 and Q3 2021.
- Material weakness in internal control over financial reporting for income taxes identified as of June/Sept 2021.
- Audit Committee discussed with independent auditor Mayer Hoffman McCann P.C.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/95574/000143774922006959/0001437749-22-006959-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/95574/000143774922006959/sgc20220322_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-006959

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