Form SD Block, Inc.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM SD
SPECIALIZED DISCLOSURE REPORT
Block, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 001-37622 | |
(State or other jurisdiction of incorporation or organization) |
(Commission file number) | |
1955 Broadway, Suite 600 Oakland, CA1 |
946121 | |
(Address of principal executive offices) | (Zip code) |
Chrysty Esperanza
Chief Legal Officer
(415) 375-3176
(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:
☒ | Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2023. |
☐ | Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2023. |
1 | We have adopted a distributed work model and, therefore, have no formal headquarters. This address represents our principal executive office, which we are required to identify under Securities and Exchange Commission rules. |
Section 1 Conflict Minerals Disclosure
Item 1.01 | Conflict Minerals Disclosure and Report |
Block, Inc. (the Company) is filing this Form SD pursuant to Rule 13p-1 promulgated under the Securities Exchange Act of 1934, as amended, for the reporting period January 1, 2023 to December 31, 2023.
The Companys primary hardware products include its magstripe reader, contactless and chip reader, Square Stand, Square Register, and Square Terminal (the Covered Products), each of which are manufactured by third parties. For additional information related to the Covered Products, refer to the Companys Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the Securities and Exchange Commission.
Reasonable Country of Origin Inquiry
Following the Companys initial determination that certain of its hardware products contain components that contain metallic forms of tin, tungsten, tantalum and/or gold (3TG) minerals (derived from columbite-tantalite (coltan), cassiterite, gold, or wolframite, Conflict Minerals), the Company conducted a Reasonable Country of Origin Inquiry (RCOI) to determine whether such 3TG minerals may have originated in the Democratic Republic of the Congo and/or any of its adjoining countries (the Covered Countries). To assess the Companys position within the supply chain, the Company requested its direct suppliers to provide responses to the Conflict Minerals Reporting Template (CMRT), a standardized reporting template developed by the Responsible Minerals Initiative.
The Company received responses to the CMRT from the two suppliers that represented 100% of the Companys contract manufacturers during the applicable period. The Company reviewed responses received to the CMRT for completeness and consistency, and followed up with suppliers for any corrections and clarifications as needed. The suppliers CMRT responses identified lists of smelters or refiners, in addition to their countries of origin, that may have supplied 3TG minerals utilized in the Covered Products during the applicable period. The CMRT responses indicated that certain of the 3TG minerals used in the Companys Covered Products may have originated in the Covered Countries and may not have been exclusively sourced from scrap or recycled sources.
The Company believes its RCOI process was reasonably designed and performed in good faith; however, there are inherent limitations in the information provided by third parties, including the possibility of information being inaccurate, incomplete or falsified despite the Companys efforts to validate and confirm the information. Furthermore, the Company relied on industry association sponsored smelter/refiner audits which may have limitations or errors/omissions in the provided audits.
Determination from RCOI
Based on the results of RCOI, the Company determined that, with respect to necessary 3TG in its Covered Products, the 3TG minerals may have originated from the Covered Countries, and therefore exercised due diligence on the source and chain of custody of the necessary 3TG.
Additional Information
A copy of this Form SD is publicly available on the Companys website at http://investors.block.xyz. The content of any website referenced in this Form SD is included for general information only and is not incorporated by reference in this Form SD.
Item 1.02 | Exhibit |
Not applicable.
Section 2 Resource Extraction Issuer Disclosure
Item 2.01 | Resource Extraction Issuer Disclosure and Report |
Not applicable.
Section 3 Exhibits
Item 3.01 | Exhibits |
Not applicable.
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 undersigned hereunto duly authorized.
Date: May 30, 2024 | BLOCK, INC. | |||||
By: | /s/ Chrysty Esperanza | |||||
Chrysty Esperanza | ||||||
Chief Legal Officer and Corporate Secretary |
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Reiterates Buy Rating on Block Inc. (SQ)
- 5 Effective Strategies to Foster Positive Connections with Children on the Autism Spectrum
- HEKA, the Inventor of AI Mattress, Launches the Sixth-Generation AI Mattress, Ushering in a New Era of Healthy Sleep
Create E-mail Alert Related Categories
SEC FilingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!