Stein Mart 2012 Annual Report Download - page 26

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Identified in the third quarter of 2011:
Information technology communication: We implemented the following activities to remediate the information technology material
weakness noted above: 1) In the first quarter of 2012, we added procedures to regularly review systematic schedule changes that have
been temporarily placed on hold; 2) In the first quarter of 2012, we monitored the capacity issue on our legacy inventory system on a daily
basis until we replaced the system in May 2012; and 3) In the fourth quarter of 2012, we implemented procedures to ensure formal
communication and documentation with finance and other department heads related to issue resolution.
In addition to the remediation efforts set forth above, beginning in the fourth quarter of 2012 we re-evaluated the composition and structure
of our finance organization and made several changes including replacing associates in several key positions, modifying associate
responsibilities, adding resources and realigning reporting assignments to strengthen the skills and capabilities of the organization to
improve the level of information and communication between departmental functions. Additionally, we are implementing a quarterly sub-
certification process whereby all members of upper management and certain other management will review our filings and confirm their
responsibility for, among other things, the effectiveness of key controls in their functional areas and that they are unaware of inaccuracies
or omissions in our financial statements.
Changes in Internal Control Over Financial Reporting
As discussed above, there were changes in the Company’s internal control over financial reporting (as that term is defined in Rules 13a-
15(f) and 15d-15(f) under the Exchange Act) during the most recent fiscal quarter that have materially affected, or are reasonably likely to
materially affect, the Company’s internal control over financial reporting.
ITEM 9B. OTHER INFORMATION
None.
PART III
ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
The information required by this item is incorporated herein by reference to the disclosure found in the Proxy Statement for our June 18,
2013 Annual Meeting of Stockholders.
We have adopted a code of conduct applicable to all of our officers, directors and employees, including the principal executive officer,
principal financial officer, principal accounting officer and persons performing similar functions. The text of this code of conduct may be
found on our web site at www.steinmart.com. We intend to post notice of any waiver from, or amendment to, any provision of our code of
conduct on our web site.
ITEM 11. EXECUTIVE COMPENSATION
The information required by this item is incorporated herein by reference to the disclosure found in the Proxy Statement for our June 18,
2013 Annual Meeting of Stockholders.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER
MATTERS
The information required by this item is incorporated herein by reference to the disclosure found in the Proxy Statement for our June 18,
2013 Annual Meeting of Stockholders.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
The information required by this item is incorporated herein by reference to the disclosure found in the Proxy Statement for our June 18,
2013 Annual Meeting of Stockholders.
ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
The information required by this item is incorporated herein by reference to the disclosure found in the Proxy Statement for our June 18,
2013 Annual Meeting of Stockholders.