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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Raven Industries Inc | NASDAQ:RAVN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 58.08 | 57.96 | 57.86 | 0 | 01:00:00 |
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the fiscal year ended December 31, 2018
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the transition period from to
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A.
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Full title of the plan and the address of the plan, if different from that of the issuer named below:
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B.
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Name of issuer of securities held pursuant to the plan and the address of its principal executive office:
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DESCRIPTION
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PAGE
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Report of Independent Registered Public Accounting Firm
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Financial Statements:
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Statements of Net Assets Available for Benefits
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Statements of Changes in Net Assets Available for Benefits
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Notes to Financial Statements
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Supplemental Schedule
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Schedule H, line 4i - Schedule of Assets (Held at End of Year)
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Exhibits
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Exhibit 23 - Consent of Independent Registered Public Accounting Firm
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Other schedules required by 29 CFR 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable.
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RAVEN INDUSTRIES, INC. 401(k) PLAN
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Statements of Net Assets Available for Benefits
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As of December 31,
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2018
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2017
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ASSETS
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Investments, at fair value
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$
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64,684,816
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$
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65,920,068
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Notes receivable from participants, net
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1,588,258
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1,519,927
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Contributions receivable
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Participant contributions
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3,542
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13,029
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Employer contributions
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93,940
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89,657
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Loan repayment receivable
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446
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85
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Total contributions receivable
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97,928
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102,771
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Cash
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1,119
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28,903
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Total assets
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66,372,121
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67,571,669
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Liabilities
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Accrued Liabilities
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—
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415
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Total liabilities
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—
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415
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NET ASSETS AVAILABLE FOR BENEFITS
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$
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66,372,121
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$
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67,571,254
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The accompanying notes are an integral part of the financial statements.
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RAVEN INDUSTRIES, INC. 401(k) PLAN
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Statements of Changes in Net Assets Available for Benefits
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Year Ended December 31,
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2018
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2017
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ADDITIONS
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Investment income (loss)
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Interest and dividends
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$
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2,951,201
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$
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2,049,833
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Net (depreciation) appreciation in fair value of investments
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(6,591,337
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)
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7,618,704
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(3,640,136
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)
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9,668,537
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Interest income on notes receivable from participants
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71,213
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59,093
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Contributions
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Participant contributions
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4,170,819
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3,541,709
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Employer contributions
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2,856,089
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2,037,469
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Rollover deposits
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2,126,270
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1,025,760
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9,153,178
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6,604,938
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Other income (expense) (see Note 1)
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—
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(21,015
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)
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DEDUCTIONS
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Benefits paid to participants
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6,700,573
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7,943,269
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Administrative fees
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82,815
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52,575
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6,783,388
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7,995,844
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Net (decrease) increase in net assets available for benefits
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(1,199,133
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)
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8,315,709
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Transfer in from the Vista Research, Inc. Defined Contribution Plan
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—
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14,369,204
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NET ASSETS AVAILABLE FOR BENEFITS
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Beginning of year
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67,571,254
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44,886,341
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End of year
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$
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66,372,121
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$
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67,571,254
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The accompanying notes are an integral part of the financial statements.
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1.
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Plan Description
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Level 1
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Quoted market prices in active markets that the Plan has the ability to access for identical assets or liabilities.
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Level 2
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Inputs to the valuation methodology include -
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Quoted prices for similar assets or liabilities in active markets;
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Quoted prices for identical or similar assets or liabilities in inactive markets;
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Inputs other than quoted prices that are observable for the asset or liability; or
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Inputs that are derived principally from, or corroborated by, observable market data by correlation or other means.
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Level 3
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Unobservable inputs which reflect estimates and assumptions that a market participant would use.
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•
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Money market funds
- Valued at the net asset value (NAV) based on the daily closing price as reported by the fund. Money market funds are classified within Level 1 of the fair value hierarchy.
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•
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Mutual funds
- Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds registered with the Securities and Exchange Commission. These funds are required to publish their NAV daily and to transact at that price. Mutual funds are classified within Level 1 of the fair value hierarchy.
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•
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Common collective trust
- The investments include a capital preservation trust. The Plan’s interest in this trust are valued based on the NAV of the observable market prices of the underlying investments held by the fund less its liabilities. The NAV for the underlying assets of the trust is a readily determinable measure of their fair value and is the basis used by the trust for reporting all current transactions. Fair values for the underlying assets of the trust were based on either quoted prices in active markets or observable inputs or quotations from inactive markets. The Plan's investments in this trust are classified within Level 2 of the fair value hierarchy.
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•
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Common stocks
- The investment relates to self-directed brokerage accounts held by participants and Raven common stock purchased in the open market. Common stocks are valued at the closing price reported on the active market on which the individual securities are traded and are classified within Level 1 of the fair value hierarchy.
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2018
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||||||||||||||
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Level 1
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Level 2
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Level 3
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Total
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Money market fund
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$
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1,045,609
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$
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—
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$
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—
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$
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1,045,609
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Mutual funds
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59,597,708
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—
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—
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59,597,708
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Common collective trust
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—
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2,980,035
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—
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2,980,035
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Common stock
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825,604
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—
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—
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825,604
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Participant self- directed brokerage accounts
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235,860
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—
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—
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235,860
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Total investments at fair value
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$
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61,704,781
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$
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2,980,035
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$
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—
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$
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64,684,816
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2017
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||||||||||||||
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Level 1
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Level 2
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Level 3
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Total
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||||||||
Money market fund
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$
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1,041,640
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$
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—
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$
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—
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$
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1,041,640
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Mutual funds
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60,440,802
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—
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—
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60,440,802
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Common collective trusts
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—
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2,873,602
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—
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2,873,602
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Common stock
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876,746
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—
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—
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876,746
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Participant self- directed brokerage accounts
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687,278
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—
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—
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687,278
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||||
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||||||||
Total investments at fair value
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$
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63,046,466
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|
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$
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2,873,602
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$
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—
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$
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65,920,068
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8.
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Subsequent Events
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Exhibit Number
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Description
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Consent of independent registered public accounting firm
|
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RAVEN INDUSTRIES, INC. 401(k) Plan
|
|
||
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||
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/s/ Nicole M. Freesemann
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||
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Nicole M. Freesemann
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Vice President of Human Resources, Raven Industries, Inc.
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|
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Plan Administrator
|
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1 Year Raven Industries Chart |
1 Month Raven Industries Chart |
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