Correct and to further add it doesn't come with the adjustable shims as well, no hard gun case, and only 3 chokes instead of 5. Fine by me, as it saved me a good $400 off the M2 field. Same exact internals for the gun, without all the extra gimmicks.
As someone mentioned, if your worried about recoil (didn't affect me whatsoever and I was shooting a light twelve Browning A5 2 3/4" before this gun, and both are lightweight and not a lot of recoil, you can get a limbsaver pad or another stock butt insert. no need to worry about adjustable shims as long as you make sure the gun fits you before purchasing, most of us look at aftermarket chokes for specific applications if the stock assortment doesn't meet our fancy. You can customize your gun with these extras if you'd like for about $200 or so.