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TAT TECHNOLOGIES LTD

For the period ended Dec 31, 2024. Filed Mar 26, 2025.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2024 · Filed Mar 26, 2025

TATT$37.00+3.0%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 20-F

☐REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

For the fiscal year ended December 31,2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _____________
☐SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934Date of event requiring this shell company report ..........................

Commission file number:0-16050

(Exact name of Registrant as specified in its charter

and translation of Registrant’s name into English)

Israel

(Jurisdiction of incorporation or organization)

Hamelacha 5, Netanya 4250540, Israel

(Address of principal executive offices)

Ehud Ben-Yair

Chief Financial Officer

Telephone: +972-8-8628500

Email: ehudb@tat-technologies.com

Hamelacha 5 St,

Natanya 4250540, Israel

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered
Ordinary Shares, no par value per shareTATTNASDAQ Global Market

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or Common stock as of the close of the period covered by the annual report:

10,940,358 Ordinary Shares, no par value

(as of December 31, 2024)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ☐No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

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 Securities Exchange Act of 1934 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, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☐Accelerated filer ☐Non-accelerated filer ☒Emerging growth company ☐

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, 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 which basis of accounting the registrant has used to prepare the financial statements included in this filing:

U.S. GAAP ☒International Financial Reporting Standards as issued by the International Accounting Standards Board ☐Other ☐

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow:

Item 17 ☐ Item 18 ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No☒

TABLE OF CONTENTS

Page
INTRODUCTION1
PART I4
Item 1.Identity of Directors, Senior Management and Advisers4
Item 2.Offer Statistics and Expected Timetable4
Item 3.Key Information4
A.Selected Financial Data4
B.Capitalization and Indebtedness4
C.Reasons for the Offer and Use of Proceeds4
D.Risk Factors4
Item 4.Information on the Company27
A.Business Overview27
B.Government Regulations30
C.Organizational Structure60
D.Property, Plants and Equipment60
Item 4A.Unresolved Staff Comments62
Item 5Operating and Financial Review and Prospects62
A.Research and Development, Patents and Licenses83
B.Trend Information83
C.Off-Balance Sheet Arrangements83
D.Tabular Disclosure of Contractual Obligations84
Item 6.Directors, Senior Management and Employees85
A.Directors and Senior Management85
B.Compensation of Directors and Executive Officers89
C.Board Practices92
D.Employees106
E.Share ownership107
F.Disclosure of a Registrant’s Action to Recover Erroneously Awarded Compensation109
Item 7.Major Shareholders and Related Party Transactions109
A.Major Shareholders109
B.Related Party Transactions112
C.Interests of Experts and Counsel113
Item 8.Financial Information113
A.Consolidated Statements and Other Financial Information113
B.Significant Changes114
Item 9.The Offer and Listing114
A.Offer and Listing Details114
Item 10.Ordinary Shares114
A.Plan of Distribution114
B.Markets114
C.Selling Shareholders114
D.Dilution114
E.Expense of the Issue115
Item 11.Additional Information115
A.Share Capital115
B.Memorandum and Articles of Association115
C.Material Contracts116
D.Exchange Controls117
E.Taxation118
F.Dividends and Paying Agents133
G.Statement by Experts133
H.Documents on Display134
I.Subsidiary Information134
Item 12.Quantitative and Qualitative Disclosures about Market Risk135
Item 13.Description of Securities Other than Equity Securities135
PART II135
Item 14.Defaults, Dividend Arrearages and Delinquencies135
Item 15.Material Modifications to the Rights of Security Holders135
Item 16.Controls and Procedures136
Item 17.Reserved138
Item 16A.Audit Committee Financial Expert138
Item 16B.Code of Ethics138
Item 16C.Principal Accountants Fees and Services138
Item 16D.Exemptions from the Listing Standards for Audit Committee139
Item 16E.Purchase of Equity Securities By Issuer and Affiliated Purchases139
Item 16F.Change in Registrant’s Certifying Accountant.139
Item 16G.Corporate Governance.139
Item 16H.Mine Safety Disclosure140
Item 16I.Disclosure Regarding Foreign Jurisdictions That Prevent Inspections140
Item 16J.Insider Trading Policies141
Item 16K.Cybersecurity141
PART III142
Item 17.Financial Statements142
Item 18.Financial Statements142
Item 19.Exhibits142

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