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Get filing alertsRisk Profile Improvements
- Material Weakness (improved) — Material weakness in IT general controls disclosed in prior period has been remediated; controls now effective.
Corpay remediates IT controls, sells PayByPhone for $420M, loses FTC appeal
Filed May 8, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 12, 2025 · ~1 min read
Key Changes
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high
Material weakness in IT user access controls remediated; disclosure controls now effective as of March 31, 2026, reversing prior-year ineffective determination.
Controls & Procedures verify on EDGAR → -
high
Sold PayByPhone mobile parking business for $420M net proceeds, recognizing $121.4M pre-tax gain in Q1 2026; strategic exit from parking vertical.
MD&A: PayByPhone Disposition verify on EDGAR → -
high
Eleventh Circuit affirmed FTC judgment against company on January 6, 2026; en banc review denied May 5, 2026, exhausting full-court appeal options.
Legal Proceedings verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 1, 2026 · How we verify