LEAR CORP
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 13, 2026
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
For the fiscal year ended December 31, 2025.
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from to .
Commission file number:1-11311
(Exact name of registrant as specified in its charter)
| Delaware | 13-3386776 |
|---|---|
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. EmployerIdentification No.) |
21557 Telegraph Road, Southfield, MI 48033
(Address of principal executive offices)
(248)447-1500
(Registrant's telephone number including area code)
| Securities registered pursuant to Section 12(b) of the Act: | ||
|---|---|---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $0.01 per share | LEA | New York Stock Exchange |
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No☐
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐ No ☒
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☒ | Accelerated filer | ☐ | Emerging growth company | ☐ |
|---|---|---|---|---|---|
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨
Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐ No☒
As of June 28, 2025, the aggregate market value of the registrant's common stock, par value $0.01 per share, held by non-affiliates of the registrant was $5,002,133,126. The closing price of the common stock on June 28, 2025, as reported on the New York Stock Exchange, was $94.32 per share.
As of February 10, 2026, the number of shares outstanding of the registrant's common stock was 50,727,454 shares.
DOCUMENTS INCORPORATED BY REFERENCE
Certain sections of the registrant's Notice of Annual Meeting of Shareholders and Definitive Proxy Statement on Schedule 14A for its Annual Meeting of Shareholders to be held in May 2026, as described in the Cross Reference Sheet and Table of Contents included herewith, are incorporated by reference into Part III of this Annual Report on Form 10-K.
CROSS REFERENCE SHEET AND TABLE OF CONTENTS
| Page Numberor Reference | ||
|---|---|---|
| PART I | ||
| ITEM 1. | Business | 3 |
| ITEM 1A. | Risk factors | 21 |
| ITEM 1B. | Unresolved staff comments | 30 |
| ITEM 1C. | Cybersecurity | 31 |
| ITEM 2. | Properties | 32 |
| ITEM 3. | Legal proceedings | 32 |
| ITEM 4. | Mine safety disclosures | 32 |
| SUPPLEMENTARY ITEM. | Information about our executive officers | 33 |
| PART II | ||
| ITEM 5. | Market for the Company's common equity, related stockholder matters and issuer purchases of equity securities | 35 |
| ITEM 6. | Reserved | 36 |
| ITEM 7. | Management's discussion and analysis of financial condition and results of operations | 37 |
| ITEM 7A. | Quantitative and qualitative disclosures about market risk | 54 |
| ITEM 8. | Consolidated financial statements and supplementary data | 55 |
| ITEM 9. | Changes in and disagreements with accountants on accounting and financial disclosure | 109 |
| ITEM 9A. | Controls and procedures | 109 |
| ITEM 9B. | Other information | 109 |
| ITEM 9C. | Disclosure regarding foreign jurisdictions that prevent inspections | 109 |
| PART III (1) | ||
| ITEM 10. | Directors, executive officers and corporate governance (2) | 110 |
| ITEM 11. | Executive compensation (3) | 110 |
| ITEM 12. | Security ownership of certain beneficial owners and management and related stockholder matters (4) | 111 |
| ITEM 13. | Certain relationships and related transactions, and director independence (5) | 111 |
| ITEM 14. | Principal accounting fees and services (6) | 111 |
| PART IV | ||
| ITEM 15. | Exhibits and financial statement schedule | 112 |
(1)Certain information is incorporated by reference, as indicated below, to the registrant's Definitive Proxy Statement on Schedule 14A for its Annual Meeting of Shareholders to be held in May 2026 (the "Proxy Statement").
(2)A portion of the information required is incorporated by reference to the Proxy Statement sections entitled "Election of Directors" and "Directors and Corporate Governance."
(3)Incorporated by reference to the Proxy Statement sections entitled "Directors and Corporate Governance — Director Compensation," "Compensation Discussion and Analysis," "Executive Compensation," "Compensation Committee Interlocks and Insider Participation" and "Compensation Committee Report."
(4)A portion of the information required is incorporated by reference to the Proxy Statement section entitled "Directors and Corporate Governance — Security Ownership of Certain Beneficial Owners, Directors and Management."
(5)Incorporated by reference to the Proxy Statement sections entitled "Certain Relationships and Related Party Transactions" and "Directors and Corporate Governance — Independence of Directors."
(6)Incorporated by reference to the Proxy Statement section entitled "Fees of Independent Accountants."
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