UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

_____________________________________

FORM 11-K

For Annual Reports of Employee Stock

Purchase, Savings and Similar Plans

Pursuant to Section 15(d)

Of the Securities Exchange Act of 1934

_____________________________________

 

(Mark One)

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE FISCAL YEAR ENDED December 31, 2021

OR

 

TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934

Commission File Number: 000-21835

_____________________________________

A.

Full title of the plan and the address of the plan, if different from that of the issuer named below:

HELIOS TECHNOLOGIES, INC. 401(K) RETIREMENT PLAN

 

B.

Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

HELIOS TECHNOLOGIES, INC.

7456 16th St E

SARASOTA, FLORIDA 34243

 


 


 

HELIOS TECHNOLOGIES, INC. 401(K) RETIREMENT PLAN

FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULE

AND REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

DECEMBER 31, 2021 AND 2020

 


 


 

CONTENTS

 

 

Page

 

 

Report of Independent Registered Public Accounting Firm

1

 

 

Financial Statements

 

Statements of Net Assets Available for Benefits as of December 31, 2021 and 2020

2

Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2021

3

Notes to the Financial Statements

4

 

 

Supplemental Schedule

 

Schedule of Assets (Held at End of Year) as of December 31, 2021

11

 

 

Signature

12

 

 

Exhibit

 

Exhibit 23.1 - Consent of Independent Registered Public Accounting Firm

 

 

 

All other schedules are omitted as they are not applicable or not required based on disclosure requirements of the Employee Retirement Income Security Act of 1974 and regulations issued by the Department of Labor.

 


 


 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Plan Administrator and Plan Participants

Helios Technologies, Inc. 401(K) Retirement Plan

Opinion on the financial statements

We have audited the accompanying statements of net assets available for benefits of Helios Technologies, Inc. 401(k) Retirement Plan (the “Plan”) as of December 31, 2021 and 2020, the related statement of changes in net assets available for benefits for the year ended December 31, 2021, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2021 and 2020, and the changes in net assets available for benefits for the year ended December 31, 2021 in conformity with accounting principles generally accepted in the United States of America.

Basis for opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Supplemental information

The schedule of assets (held at end of year) as of December 31, 2021 (“supplemental information”) has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ Grant Thornton LLP

We have served as the Plan’s auditor since 2016.

Tampa, Florida

June 28, 2022

 

1


 

HELIOS TECHNOLOGIES, INC. 401(K) RETIREMENT PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

Assets

 

 

 

 

 

 

Investments, at fair value:

 

 

 

 

 

 

Money market funds and interest bearing cash

 

$

6,835,193

 

 

$

8,732,399

 

Mutual funds

 

 

104,473,828

 

 

 

86,149,125

 

Collective trust funds

 

 

3,321,518

 

 

 

3,102,213

 

Common stock

 

 

3,213,677

 

 

 

2,516,660

 

Sponsor company common stock

 

 

20,472,287

 

 

 

12,235,118

 

Total investments at fair value

 

 

138,316,503

 

 

 

112,735,515

 

Receivables:

 

 

 

 

 

 

Employer contribution-cash

 

 

961,452

 

 

 

792,390

 

Participant contribution

 

 

51,004

 

 

 

5,179

 

Notes receivable from participants including interest

 

 

2,379,164

 

 

 

2,247,800

 

Total receivables

 

 

3,391,620

 

 

 

3,045,369

 

Liabilities

 

 

 

 

 

 

Other liabilities

 

 

3,457

 

 

 

 

Net assets available for benefits

 

$

141,704,666

 

 

$

115,780,884

 

 

The accompanying Notes to the Financial Statements are an integral part of these financial statements.

 

2


 

HELIOS TECHNOLOGIES, INC. 401(K) RETIREMENT PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

FOR THE YEAR ENDED DECEMBER 31, 2021

 

Additions:

 

 

 

Investment income:

 

 

 

Net appreciation in fair value of investments

 

$

13,740,029

 

Interest and dividends

 

 

11,032,143

 

Total investment gain, net

 

 

24,772,172

 

Contributions:

 

 

 

Participant

 

 

4,902,841

 

Employer-cash

 

 

2,799,335

 

Rollovers

 

 

5,000,748

 

Total contributions

 

 

12,702,924

 

Interest income on notes receivable from participants

 

 

121,542

 

Total additions

 

 

37,596,638

 

 

 

 

 

Deductions:

 

 

 

Benefits paid to participants

 

 

11,529,812

 

Administrative expenses

 

 

143,044

 

Total deductions

 

 

11,672,856

 

 

 

 

 

Net increase in net assets available for benefits

 

 

25,923,782

 

 

 

 

 

Net assets available for benefits

 

 

 

Beginning of the year

 

 

115,780,884

 

End of the year

 

$

141,704,666

 

 

The accompanying Notes to the Financial Statements are an integral part of these financial statements.

 

3


 

HELIOS TECHNOLOGIES, INC. 401(K) RETIREMENT PLAN

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2021 AND 2020

1. Description of Plan

The following description of the Helios Technologies, Inc. 401(k) Retirement Plan (the “Plan”) provides only general information. Participants should refer to the Plan agreement, as amended and restated, for a more complete description of the Plan’s provisions.

General

The Plan became effective on January 1, 1979. The Plan is a defined contribution 401(k) plan covering certain employees of its sponsor, Helios Technologies, Inc. (the “Corporation” or “Helios”) and certain wholly owned subsidiaries including Sun Hydraulics, LLC (“Sun”), Enovation Controls, LLC (“Enovation”), Balboa Water Group, LLC (“Balboa”), Faster Inc. (“Faster”) and Helios Center for Engineering Excellence, LLC ("HCEE"). Employees are eligible to participate in the Plan effective on the first day of the calendar month coinciding with or following their hire date and are automatically enrolled in the Plan 30 days after their participation date. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).

The Plan is administered by the Helios Technologies Employee Benefits Committee (the “Committee”) except in connection with the acquisition, retention or disposition of Corporation stock held by the Plan, with respect to which the Corporation's Board of Directors retains authority. The Committee is composed of five employees of the Corporation who are delegated administrative responsibility by the Corporation’s Board of Directors. Charles Schwab Bank (the “Trustee”) is the current trustee for the Plan. Schwab Retirement Plan Services, Inc. provides the recordkeeping, accounting, and the telephone and internet exchange features of the Plan.

The sponsor company common stock fund is a share-based stock fund. At December 31, 2021, the fund held 194,659 shares of Helios Technologies, Inc. common stock (“company common stock”) with a price of $105.17 per share as of such date. At December 31, 2020, the fund held 229,595 shares of Helios Technologies, Inc. common stock with a price of $53.29 per share as of such date.

In March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The CARES Act provided temporary relief for retirement plan sponsors and their participants with respect to employer contributions, distributions, and participant loans. The provisions of the CARES Act may be effective and operationalized immediately, prior to amending the plan document. During 2020, plan management adopted relief provisions related to hardship withdrawals, loans, and required minimum distributions included in the CARES Act.

Plan Amendments

Effective January 1, 2020, the Enovation Controls 401(k) Profit Sharing Plan and the Faster, Inc. Profit Sharing Plan were merged into this Plan. Enovation and Faster, wholly owned operating subsidiaries of the Corporation, became adopting employers. Enovation plan assets totaling $24,687,982 were transferred into the Plan on January 2, 2020. Faster plan assets totaling $1,334,025 were transferred into the Plan on January 9, 2020.

4


 

In conjunction with the mergers, the Plan was amended as follows:

Eligibility – The age and service requirements were removed, and the entry date was changed to the first day of the month after or coinciding with an employee’s hire date.
Vesting – The definition of service for vesting purposes was changed to credit participants with a year of vesting service after they have worked 1,000 hours in the calendar year.
Payment of Benefits – The Plan allows for distributions from rollover sources at any time.
Notes Receivable from Participants – The minimum loan was reduced from $1,000 to $500. Participants can initiate a residential loan to purchase a primary residence to be repaid over a period of up to 15 years.
Enovation and Faster were added as adopting employers of the Plan. Separate criteria for Enovation and Faster employees was established as detailed throughout these Notes to the Financial Statements.
Protected Benefits – Certain Enovation and Faster plan provisions were retained and incorporated into the Plan for employees who were participants in the plans prior to the mergers.

On November 6, 2020, the Corporation acquired Balboa and Balboa's existing 401k plan was terminated. Effective on the same date, Balboa was added as an adopting employer of the Helios Plan. A group rollover from the terminated plan into the Helios Plan for active participants was completed during the 2021 year and is included in rollovers on the statement of changes in net assets available for benefits.

Effective January 15, 2021, Helios Center of Engineering Excellence, LLC was added as an adopting employer of the Plan.

Effective April 1, 2022, the plan was restated in order to comply with Internal Revenue Service restatement requirements. The restatement of the Plan incorporated all prior Plan amendments.

Contributions

Eligible employees of Sun, Faster, HCEE and Helios are automatically enrolled in the Plan at 3% of eligible compensation. Eligible employees of Enovation and Balboa are automatically enrolled in the Plan at 7% of eligible compensation. Employees can elect not to defer compensation or change their deferral rate at any time. Salary deferral contributions are made by participating employees through payroll deductions in amounts authorized by the employees. The Plan allows participants to make pre-tax contributions from 1% to 100% of their eligible compensation, not to exceed statutory limits.

Pre-tax contributions, of up to 6% of Sun, HCEE and Helios employee’s salary (depending on length of service), are matched by the Corporation. Matching contributions are based on the years of service as listed in the following schedule:

Years of Service

 

% Match

 

Less than three years

 

 

3

%

After three years

 

 

4

%

After five years

 

 

5

%

After seven or more years

 

 

6

%

Pre-tax contributions, of up to 6% of Faster employee’s salary, are matched by the Corporation at 100%.

5


 

Enovation and Balboa employee salary contributions are matched at the employer’s discretion. For the years ended December 31, 2021 and December 31, 2020, Enovation and Balboa employees who contributed up to 2% of their salary were matched by the Corporation at 100%; salary contributions from 3% through 6% were additionally matched at 50%; and employees contributing 7% or more of their salary received 100% match on 4.5% of their salary. The discretionary match amounts totaled $961,452 and $792,390 for the years ended December 31, 2021 and December 31, 2020, respectively, and are presented as receivables as of December 31, 2021 and December 31, 2020, respectively.

Additional contributions may be made by the Corporation on a discretionary basis. For the 2021 and 2020 plan years, no additional discretionary contributions were made.

Participants can also contribute amounts representing distributions from other qualified defined benefit or defined contribution retirement plans, as well as direct rollovers from individual retirement accounts or annuities.

Participant Accounts

Each participant’s account is credited with the participant’s contribution, any employer contribution and an allocation of Plan earnings or losses. Allocations are based on the participant’s account balance.

Vesting

Participants are immediately vested in their voluntary contributions plus actual earnings thereon. Participants employed by Faster are fully vested in employer matching contributions immediately and are vested in employer discretionary contributions based on years of service in accordance with the table below. Participants employed by Sun, HCEE and Helios are vested in all employer contributions based on years of services in accordance with the table below.

Years of Service

 

Vesting %

 

Less than 1

 

 

1

 

 

20

%

2

 

 

40

%

3

 

 

60

%

4

 

 

80

%

5 or more

 

 

100

%

Participants employed by Enovation and Balboa are vested in all employer contributions based upon years of service defined in the Plan, as follows:

Years of Service

 

Vesting %

 

Less than 1

 

 

1

 

 

33

%

2

 

 

67

%

3 or more

 

 

100

%

Payment of Benefits

If a participant ceases to be employed by the Corporation for any reason other than death or total and permanent disability, prior to satisfying the age and service requirements for early or normal retirement, the terminated participant may elect to receive lump-sum or periodic payments of the participant’s vested account balance. Withdrawals may be subject to tax withholdings and penalties.

6


 

Benefits may be paid upon death, disability, termination, retirement or upon reaching the normal retirement age. Benefits are paid to the participants or their beneficiaries, in lump-sum amounts or periodic payments. Under certain circumstances, hardship withdrawals are allowed from the Plan.

Investment Options

The participants, upon enrollment in the Plan, elect to invest their contributions, in 1% increments, in the investment options provided by the Plan. Discretionary contributions that are made by the Corporation in company common stock can be divested by participants immediately upon receipt.

Notes Receivable From Participants

A participant may receive a loan based on the loan program set forth by the Plan. A participant can have a maximum of one general loan and one residential loan outstanding at any time. The minimum amount of a loan is $500 and the maximum amount of a loan, when added to the outstanding balance of other loans from the Plan, is generally the lesser of 1) 50% of the participant’s vested account balance or 2) $50,000 (reduced by the excess of the participants highest outstanding loan balance during the prior 1-year period over the outstanding loan balance as of the day the loan is made). The loans are collateralized by the balance in the participant’s account and bear interest at a reasonable rate, as defined by the Plan. Current loans bear interest at a rate of 3.25% - 7.50%. Notes receivable from participants are presented at cost plus accrued interest. Interest income is recorded when earned. Principal and interest are paid through payroll deductions over a maximum of 5 years for general loans and 15 years for a loan used to purchase a participant’s principal residence.

Plan Expenses

The Plan pays the account administrative service fee and plan-related investment advisory fees from income earned by the Plan with any fee not covered by the earned income charged on a pro-rata basis from participant accounts. The Corporation pays the legal and accounting fees, and other expenses on behalf of the Plan.

Forfeitures

At December 31, 2021 and 2020, forfeited nonvested accounts totaled $121,652 and $80,531, respectively. Forfeited account balances revert back to the Plan and are used to pay reasonable administrative expenses of the Plan and are used to reduce the employer’s matching contributions. Forfeitures in the amount of $55,403 were utilized during 2021 to pay Plan expenses and $417 were used to reduce the employers’ matching contributions.

2. Summary of Accounting Policies

Basis of Accounting

The accompanying financial statements are presented on the accrual basis of accounting.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

7


 

Investments

The Plan’s investments are held by the Trustee. The Plan’s investments are stated at fair value. If available, quoted market prices are used to value investments. Investment income and gains and losses are allocated among participants on the basis of individual participant account balances. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date.

Payment of Benefits

Benefits are recorded when paid.

Net Appreciation (Depreciation) in Fair Value of Investments

The Plan presents, in the statement of changes in net assets available for benefits, net appreciation (depreciation) in fair value of its investments consisting of realized gains (losses) and unrealized appreciation (depreciation) on those investments.

Subsequent Events

The Plan evaluated subsequent events and transactions for potential recognition or disclosure in the financial statements through June 28, 2022, the date the financial statements were issued.

3. Fair Value Measurements

The Plan applies fair value accounting guidelines for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). Under these guidelines, fair value is defined as the price that would be received for the sale of an asset or paid to transfer a liability (i.e., an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets.

Level 3 - Unobservable inputs that are supported by little, infrequent, or no market activity and reflect the Company’s own assumptions about inputs used in pricing the asset or liability.

The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following is a description of the valuation methodologies used for the investments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy.

There have been no changes in the methodologies used at December 31, 2021 and 2020.

Common stocks

The Corporation’s common stock and common stock of other companies held in self-directed brokerage accounts are stated at fair value as quoted by the market close price on a recognized securities exchange on the last business day of the Plan year and are classified as Level 1.

8


 

Money market funds

Money market funds and money market funds held in self-directed brokerage accounts are valued at quoted prices in an active market, which represents the net asset values (“NAV”) of shares held by the Plan at year-end and are classified as Level 1.

Mutual funds

Mutual funds and mutual funds held in self-directed brokerage accounts are valued at quoted prices in an active market, which represents the net asset values of shares held by the Plan at year-end and are classified as Level 1.

Collective trust funds

Valued at the NAV of the underlying assets owned by the fund, minus its liabilities and then divided by the number of units outstanding. The NAV is provided by the fund administrators and is used as a practical expedient to estimating fair value and therefore collective trust funds are not assigned to a level in the fair value hierarchy table. The collective trust funds provide for daily redemptions by the Plan at the reported net asset values per share, with no advance notice requirement.

As of December 31, 2021, the Plan’s investments measured at fair value on a recurring basis were as follows:

 

 

 

 

 

Fair Value Measurements at 12/31/21 Using

 

 

 

Investments Measured at Fair Value at

 

 

Quoted Prices in Active Markets for Identical Assets

 

 

Significant Other Observable Inputs

 

 

Significant Unobservable Inputs

 

 

 

12/31/2021

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

Sponsor company common stock

 

$

20,472,287

 

 

$

20,472,287

 

 

$

 

 

$

 

Money market funds

 

 

6,163,935

 

 

 

6,163,935

 

 

 

 

 

 

 

Mutual funds

 

 

102,551,618

 

 

 

102,551,618

 

 

 

 

 

 

 

Self directed brokerage accounts

 

 

5,807,145

 

 

 

5,807,145

 

 

 

 

 

 

 

Total assets in the fair value heirarchy

 

$

134,994,985

 

 

$

134,994,985

 

 

$

 

 

$

 

Collective trust funds

 

 

3,321,518

 

 

 

 

 

 

 

 

 

 

Total investments

 

$

138,316,503

 

 

 

 

 

 

 

 

 

 

As of December 31, 2020, the Plan’s investments measured at fair value on a recurring basis were as follows:

 

 

 

 

 

Fair Value Measurements at 12/31/20 Using

 

 

 

Investments Measured at Fair Value at

 

 

Quoted Prices in Active Markets for Identical Assets

 

 

Significant Other Observable Inputs

 

 

Significant Unobservable Inputs

 

 

 

12/31/2020

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

Sponsor company common stock

 

$

12,235,118

 

 

$

12,235,118

 

 

$

 

 

$

 

Money market funds

 

 

8,066,433

 

 

 

8,066,433

 

 

 

 

 

 

 

Mutual funds

 

 

85,116,618

 

 

 

85,116,618

 

 

 

 

 

 

 

Self directed brokerage accounts

 

 

4,215,133

 

 

 

4,215,133

 

 

 

 

 

 

 

Total assets in the fair value heirarchy

 

$

109,633,302

 

 

$

109,633,302

 

 

$

 

 

$

 

Collective trust funds

 

 

3,102,213

 

 

 

 

 

 

 

 

 

 

Total investments

 

$

112,735,515

 

 

 

 

 

 

 

 

 

 

 

9


 

4. Tax Status of the Plan

The Internal Revenue Service issued an opinion letter dated June 19, 2014, indicating that the prototype plan document adopted by the Plan, as then designed, was in compliance with applicable requirements of the Internal Revenue Code (“IRC”). Although the Plan has been amended from the original prototype plan document, Plan management believes that the Plan was operated in accordance with the IRC. Therefore, no provision for income taxes has been included in the Plan’s financial statements.

U.S.GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken uncertain tax positions that more-likely-than-not would not be sustained upon examination by applicable taxing authorities. The Plan administrator has analyzed tax positions taken by the Plan and has concluded that, as of December 31, 2021 and 2020, there are no uncertain tax positions taken, or expected to be taken, that would require recognition of a liability or that would require disclosure in the financial statements, and no interest or penalty expense was recognized related to uncertain tax positions for the year ended December 31, 2021. The Plan is subject to routine audits by taxing jurisdictions. However, currently no audits for any tax periods are in progress.

5. Plan Termination

Although it has not expressed any intent to do so, the Corporation has the right under the Plan to amend or discontinue the Plan at any time and to terminate the Plan, subject to the terms of ERISA. In the event of Plan termination, the participants will become 100% vested in their accounts and net assets of the Plan will be distributed to the participants and beneficiaries of the Plan.

Certain Plan investments are shares of mutual funds, money market funds, self-directed brokerage accounts, collective trust funds and cash managed by the Trustee, notes receivable from participants and shares of the Corporation’s common stock; and, therefore, these transactions qualify as party-in-interest.

7. Risks and Uncertainties

The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits.

In March 2020, the World Health Organization classified an outbreak of the novel strain of coronavirus (COVID-19) a global pandemic, which has adversely impacted the global economy by disrupting supply chains, lowering equity market valuations, creating significant volatility and disruption in financial markets, and increasing unemployment levels. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the fair values of investment securities could occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits and the statement of changes in net assets available for benefits. As of the date of issuance, the ultimate length and future severity of this pandemic cannot be reasonably estimated.

 

10


 

SUPPLEMENTAL SCHEDULE

HELIOS TECHNOLOGIES, INC. 401(K) RETIREMENT PLAN

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2021

Information furnished pursuant to item 4i, Schedule H of Form 5500

Employer identification number: 59 2754337

Plan number: 001

 

(a)

 

(b)

 

(c)

 

(d)

 

(e)

 

 

 

Identity of issuer, borrower, lessor, or similar party

 

Description of investment including maturity date, rate of interest, collateral, par or maturity value

 

Cost

 

Market value

 

*

 

Schwab Value Advantage Money Ultra

 

Money Market Fund

 

#

 

$

6,163,935

 

 

 

American Beacon Large Cap Value Inv

 

Mutual Fund

 

#

 

 

3,046,783

 

 

 

Columbia Mid Cap Index Inst

 

Mutual Fund

 

#

 

 

4,304,160

 

 

 

Columbia Small Cap Index Inst

 

Mutual Fund

 

#

 

 

4,482,662

 

 

 

Delaware Small Cap Value R6

 

Mutual Fund

 

#

 

 

183,750

 

 

 

Fidelity International Index

 

Mutual Fund

 

#

 

 

1,252,835

 

 

 

JPMorgan Core Bond I

 

Mutual Fund

 

#

 

 

3,170,376

 

 

 

JPMorgan Mid Cap Value R6

 

Mutual Fund

 

#

 

 

137,113

 

 

 

Morgan Stanley Discovery Por A

 

Mutual Fund

 

#

 

 

2,716,802

 

 

 

Oppenheimer Developing Mkts Y

 

Mutual Fund

 

#

 

 

1,263,778

 

*

 

Schwab S&P 500 Index Select

 

Mutual Fund

 

#

 

 

16,334,054

 

 

 

T Rowe Price Blue Chip

 

Mutual Fund

 

#

 

 

10,359,390

 

 

 

T Rowe Overseas Stock

 

Mutual Fund

 

#

 

 

3,180,405

 

 

 

T Rowe QM US Small-Cap Growth Equity

 

Mutual Fund

 

#

 

 

415,264

 

 

 

Vanguard Inflation Protection Adm

 

Mutual Fund

 

#

 

 

2,408,473

 

 

 

Vanguard Target Retirement 2020

 

Mutual Fund

 

#

 

 

8,699,446

 

 

 

Vanguard Target Retirement 2030

 

Mutual Fund

 

#

 

 

16,673,380

 

 

 

Vanguard Target Retirement 2040

 

Mutual Fund

 

#

 

 

11,088,229

 

 

 

Vanguard Target Retirement 2050

 

Mutual Fund

 

#

 

 

8,426,040

 

 

 

Vanguard Target Retirement 2060

 

Mutual Fund

 

#

 

 

3,334,499

 

 

 

Vanguard Target Retirement Income

 

Mutual Fund

 

#

 

 

1,022,959

 

 

 

Vanguard Total Bond Market Index Admiral

 

Mutual Fund

 

#

 

 

51,220

 

 

 

Putnam Stable Value 25 bps

 

Collective Trust Fund

 

#

 

 

3,321,518

 

*

 

Personal Choice Retirement Account

 

Self Directed Brokerage Account

 

#

 

 

5,807,145

 

*

 

Helios Technologies, Inc. Common Stock

 

Common Stock

 

#

 

 

20,472,287

 

*

 

Notes receivable from participants

 

Various maturity dates with interest rates ranging from 3.25% - 7.50%

 

#

 

 

2,379,164

 

 

 

Total

 

 

 

 

 

$

140,695,667

 

 

* Represents a party-in-interest to the Plan.

# Investments are participant-directed and, therefore, cost information is not required.

 

See accompanying report of independent registered public accounting firm.

 

11


 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan administrator has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Helios Technologies, Inc. 401(k) Retirement Plan

 

 

 

 

June 28, 2022

 

 

 

By:

 

/s/ Tricia L. Fulton

 

 

 

 

 

 

Tricia L. Fulton

 

 

 

 

 

 

Chief Financial Officer (Principal

 

 

 

 

 

 

Financial and Accounting Officer)

 

12