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Midas Edge

ESCALADE INC

For the period ended Dec 31, 2025. Filed Feb 27, 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 27, 2026

ESCA$20.98-0.6%Stored close · as of Nov 10, 2026

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Contents

Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

(a)Documents filed as a part of this report:
(1)Financial Statements

Reports of Independent Registered Public Accounting Firm

Consolidated financial statements of Escalade, Incorporated and subsidiaries:

Consolidated statements of stockholders’ equity—fiscal years ended December 31, 2025 and December 31, 2024

Notes to consolidated financial statements

All other schedules are omitted because of the absence of conditions under which they are required or because the required information is given in the consolidated financial statements or notes thereto.

(3)Exhibits
3.1Articles of Incorporation of Escalade, Incorporated. Incorporated by reference from Exhibit 3.1 to the Company’s 2007 First Quarter Report on Form 10-Q.
3.2Amended By-Laws of Escalade, Incorporated. Incorporated by reference from Exhibit 3.2 to the Company’s 2022 Third Quarter Report on Form 10-Q filed on October 27, 2022.
4.1Description of Escalade’s Registered Securities. Incorporated by reference from Exhibit 4.1 to the Company’s Form 10-K for the fiscal year ended December 31, 2024 and filed on March 10, 2025.
10.1Amended and Restated Credit Agreement dated as of January 21, 2022 among Escalade, Incorporated, Indian Industries, Inc., each of their domestic subsidiaries, and JPMorgan Chase Bank, N.A., as Administrative Agent (without exhibits and schedules, which Escalade has determined are not material). Incorporated by reference from Exhibit 10.2 to the Company’s Form 8-K filed on January 24, 2022.
10.2Amended and Restated Pledge and Security Agreement dated as of January 21, 2022 among Escalade, Incorporated, Indian Industries, Inc., each of their domestic subsidiaries, and JPMorgan Chase Bank, N.A., as Administrative Agent (without exhibits and schedules, which Escalade has determined are not material). Incorporated by reference from Exhibit 10.3 to the Company’s Form 8-K filed on January 24, 2022.
10.3First Amendment dated July 18, 2022 to the Amended and Restated Credit Agreement dated as of January 21, 2022 among Escalade, Incorporated, Indian Industries, Inc., each of their domestic subsidiaries, and JPMorgan Chase Bank, N.A., as Administrative Agent. Incorporated by reference from Exhibit 10.1 to the Company’s Form 8-K filed on July 21, 2022.
10.4Second Amendment dated October 26, 2022 to the Amended and Restated Credit Agreement dated as of January 21, 2022 among Escalade, Incorporated, Indian Industries, Inc., each of their domestic subsidiaries, and JPMorgan Chase Bank, N.A., as Administrative Agent. Incorporated by reference from Exhibit 10.1 to the Company’s Form 8-K filed on October 27, 2022.
10.5Third Amendment dated May 8, 2023 to the Amended and Restated Credit Agreement dated as of January 21, 2022 among Escalade, Incorporated, Indian Industries, Inc., each of their domestic subsidiaries, and JPMorgan Chase Bank, N.A., as Administrative Agent. Incorporated by reference from Exhibit 10.1 to the Company’s Form 8-K filed on May 9, 2023.
10.6Fifth Amendment dated October 11, 2024 to the Amended and Restated Credit Agreement dated as of January 21, 2022 among Escalade, Incorporated, Indian Industries, Inc., each of their domestic subsidiaries, and JPMorgan Chase Bank, N.A., as Administrative Agent. Incorporated by reference from Exhibit 10.1 to the Company’s Form 8-K filed on October 15, 2024.
(4)Executive Compensation Plans and Arrangements
10.6Escalade, Incorporated 2017 Incentive Plan. Incorporated by reference herein from Annex 1 to the Registrant’s 2017 Definitive Proxy Statement filed on March 28, 2017.
10.7Form of Stock Option Award Agreement utilized in Stock Option grants to employees pursuant to the Escalade, Incorporated 2017 Incentive Plan. Incorporated by reference from Exhibit 10.8 to the Company’s Form 10-K for the fiscal year ended December 30, 2017 and filed on February 27, 2018.
10.8Form of Stock Option Award Agreement utilized in Stock Option grants to Directors pursuant to the Escalade, Incorporated 2017 Incentive Plan. Incorporated by reference from Exhibit 10.9 to the Company’s Form 10-K for the fiscal year ended December 30, 2017 and filed on February 27, 2018.
10.9Form of Restricted Stock Unit Agreement utilized in Restricted Stock Unit grants to employees pursuant to the Escalade Incorporated 2017 Incentive Plan. Incorporated by reference from Exhibit 10.10 to the Company’s Form 10-K for the fiscal year ended December 30, 2017 and filed on February 27, 2018.
10.10Form of Restricted Stock Unit Agreement utilized in Restricted Stock Unit grants to Directors pursuant to the Escalade, Incorporated 2017 Incentive Plan. Incorporated by reference from Exhibit 10.11 to the Company’s Form 10-K for the fiscal year ended December 30, 2017 and filed on February 27, 2018.
10.11Executive Severance Agreement executed January 31, 2025, to be effective as of April 1, 2025, by and between Armin Boehm and Escalade, Incorporated. Incorporated by reference from Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on February 6, 2025.
10.12Amendment, Waiver, Release, Non-Competition, Non-Solicitation, and Non-Disclosure Agreement dated as of November 5, 2025, by and between Armin Boehm and Escalade, Incorporated. Incorporated by reference from Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on November 10, 2025.
10.13Offer Letter, dated November 10, 2025, by and between Patrick J. Griffin and Escalade, Incorporated. Incorporated by reference from Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on November 10, 2025.
19.1Escalade, Incorporated Confidentiality of Insider Information and Securities Trades by Company Personnel. Incorporated by reference from Exhibit 19.1 to the Company’s Form 10-K for the fiscal year ended December 31, 2023 and filed on March 29, 2024.
21Subsidiaries of the Registrant
23.1Consent of Grant Thornton, LLP
31.1Chief Executive Officer Rule 13a-14(a)/15d-14(a) Certification
31.2Chief Financial Officer Rule 13a-14(a)/15d-14(a) Certification
32.1Chief Executive Officer Section 1350 Certification
32.2Chief Financial Officer Section 1350 Certification
97.1Escalade, Incorporated Amended and Restated Policy for Recovery of Incentive Compensation. Incorporated by reference from Exhibit 97.1 to the Company’s Form 10-K for the fiscal year ended December 31, 2023 and filed on March 29, 2024.
99.1Fourth Amendment effective as of September 1, 2023 to the Amended and Restated Credit Agreement dated as of January 21, 2022 among Escalade, Incorporated, Indian Industries, Inc., each of their domestic subsidiaries, and JPMorgan Chase Bank, N.A., as Administrative Agent (which Amendment Escalade has determined did not contain any material new or amended terms). Incorporated by reference from Exhibit 99.1 to the Company’s 2023 Third Quarter Report on Form 10-Q filed on October 26, 2023.
101.CalInline XBRL Taxonomy Extension Calculation Linkbase Document
101.DefInline XBRL Taxonomy Extension Definition Linkbase Document
101.LabInline XBRL Taxonomy Extension Label Linkbase Document
101.PreInline XBRL Taxonomy Extension Presentation Linkbase Document
101.InsInline XBRL Instance Document
101.SchInline XBRL Taxonomy Extension Schema Document
104Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.