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Proposal 1: Elect Directors
|
| | The nominees for director who receive the most votes (also known as a “plurality” of the votes cast) will be elected. You may vote either FOR all of the nominees, WITHHOLD your vote from all of the nominees or WITHHOLD your vote from any one of the nominees. Votes that are withheld will not be included in the vote tally for the election of the directors. Brokerage firms do not have authority to vote customers’ unvoted shares held by the firms in street name for the election of the directors. As a result, any shares not voted by a customer will be treated as a broker non-vote. Such broker non-votes will have no effect on the results of this vote. | |
|
Proposal 2: Ratify Appointment of Independent
Registered Public Accounting Firm |
| | The affirmative vote of a majority of the shares cast affirmatively or negatively for this proposal is required to ratify the selection of our independent registered public accounting firm. Abstentions will have no effect on the results of this vote. Brokerage firms have authority to vote customers’ unvoted shares held by the firms in street name on this proposal. If a broker does not exercise this authority, such broker non-votes will have no effect on the results of this vote. We are not required to obtain the approval of our stockholders to select our independent registered public accounting firm. However, if our stockholders do not ratify the appointment of CohnReznick LLP as our independent registered public accounting firm for 2024, our Audit Committee of our board of directors will reconsider its selection. | |
| | |
Shares Beneficially Owned
|
| |||||||||
Name of Beneficial Owner
|
| |
Number
|
| |
Percent
|
| ||||||
Named Executive Officers and Directors | | | | | | | | | | | | | |
David P. Luci(1)
|
| | | | 2,054,198 | | | | | | 12.2% | | |
Robert G. Shawah(2)
|
| | | | 503,936 | | | | | | 3.1% | | |
Robert J. DeLuccia(3)
|
| | | | 1,927,784 | | | | | | 11.5% | | |
Joseph C. Scodari(4)
|
| | | | 51,688 | | | | | | * | | |
Jack H. Dean(5)
|
| | | | 71,304 | | | | | | * | | |
Thomas Harrison(6)
|
| | | | 50,150 | | | | | | * | | |
Carl Sailer(7)
|
| | | | 202,567 | | | | | | 1.3% | | |
James Donohue(8)
|
| | | | 67,361 | | | | | | * | | |
All directors and current executive officers as a group (eight (8) persons)
|
| | | | 4,928,988 | | | | | | 29.6% | | |
Name
|
| |
Age
|
| |
Position with the Company
|
|
David P. Luci | | |
57
|
| | President and Chief Executive Officer, Director | |
Robert J. DeLuccia | | |
78
|
| | Executive Chairman | |
Carl V. Sailer | | |
54
|
| | Director | |
Thomas Harrison | | |
76
|
| | Director | |
Joseph C. Scodari | | |
71
|
| | Director | |
Jack H. Dean | | |
82
|
| | Director | |
James Donohue | | |
54
|
| | Director | |
|
Board Diversity Matrix (As of March 15, 2024)
|
| ||||||||||||||||||||||||
|
Total Number of Directors
|
| | | | | | | |
7
|
| |||||||||||||||
| | | |
Female
|
| |
Male
|
| |
Non-Binary
|
| |
Did Not
Disclose Gender |
| ||||||||||||
| Part I: Gender Identity | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Directors
|
| | | | — | | | | | | 7 | | | | | | — | | | | | | — | | |
| Part II: Demographic Background | | | | | | | | | | | | | | | | | | | | | | | | | |
|
African American or Black
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Alaskan Native or Native American
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Asian
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Hispanic or Latinx
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Native Hawaiian or Pacific Islander
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
White
|
| | | | — | | | | | | 7 | | | | | | — | | | | | | — | | |
|
Two or More Races or Ethnicities
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
LGBTQ+
|
| |
—
|
| |||||||||||||||||||||
|
Did Not Disclose Demographic Background
|
| |
—
|
|
Name and principal position
|
| |
Year
|
| |
Salary
($) |
| |
Bonus
($) |
| |
Stock
awards ($) |
| |
Option
awards ($) |
| |
Non-equity
incentive plan compensation ($) |
| |
Nonqualified
deferred compensation earnings ($) |
| |
All other
compensation ($)(1) |
| |
Total
($) |
| |||||||||||||||||||||||||||
David P. Luci
President and Chief Executive Officer |
| | | | 2023 | | | | | | 475,000 | | | | | | 193,978 | | | | | | — | | | | | | — | | | | | | — | | | | | | 354,900 | | | | | | — | | | | | | 1,023,878 | | |
| | | 2022 | | | | | | 475,000(2) | | | | | | 180,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 655,000 | | | ||
Robert J. DeLuccia
Executive Chairman |
| | | | 2023 | | | | | | 485,000 | | | | | | 193,978 | | | | | | — | | | | | | — | | | | | | — | | | | | | 354,900 | | | | | | 22,558 | | | | | | 1,056,436 | | |
| | | 2022 | | | | | | 475,000(3) | | | | | | 180,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 22,186 | | | | | | 677,186 | | | ||
Robert G. Shawah
Chief Financial Officer |
| | | | 2023 | | | | | | 375,000 | | | | | | 95,288 | | | | | | — | | | | | | — | | | | | | — | | | | | | 204,750 | | | | | | — | | | | | | 675,038 | | |
| | | 2022 | | | | | | 300,000(4) | | | | | | 75,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 375,000 | | |
| | |
Option Awards
|
| |
Stock Awards
|
| |||||||||||||||||||||||||||||||||||||||||||||
Name and Principal Position
|
| |
Number of
Securities Underlying Unexercised Options Exercisable (#) |
| |
Number of
Securities Underlying Unexercised Options Unexercisable (#) |
| |
Equity
Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number
of Shares or Units of Stock that have not Vested (#) |
| |
Market
Value of Shares or Units of Stock that have not Vested ($) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights that have not Vested (#) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights that have not Vested ($) |
| ||||||||||||||||||||||||
David P. Luci
President and Chief Executive Officer(1) |
| | | | 315,000 | | | | | | 35,000 | | | | | | — | | | | | | 6.26 | | | |
June 2031
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 437,500 | | | | | | 62,500 | | | | | | — | | | | | | 6.18 | | | |
July 2031
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 36.111 | | | | | | 93,889 | | | | | | — | | | | | | 3.41 | | | |
Feb 2033
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Robert J. DeLuccia
Executive Chairman(2) |
| | | | 315,000 | | | | | | 35,000 | | | | | | — | | | | | | 6.26 | | | |
June 2031
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 437,500 | | | | | | 62,500 | | | | | | — | | | | | | 6.18 | | | |
July 2031
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 36,111 | | | | | | 93,889 | | | | | | — | | | | | | 3.41 | | | |
Feb 2033
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Robert G. Shawah
Chief Financial Officer(3) |
| | | | 63,000 | | | | | | 7,000 | | | | | | — | | | | | | 6.26 | | | |
June 2031
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 175,000 | | | | | | 25,000 | | | | | | — | | | | | | 6.18 | | | |
July 2031
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 20,833 | | | | | | 54,167 | | | | | | — | | | | | | 3.41 | | | |
Feb 2033
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Name
|
| |
Fees
Earned or Paid in Cash ($) |
| |
Stock
Awards ($) |
| |
Option
Awards(1) ($) |
| |
Non-Equity
Incentive Plan Compensation ($) |
| |
Nonqualified
Deferred Compensation Earnings ($) |
| |
All Other
Compensation ($) |
| |
Total
($) |
| |||||||||||||||||||||
Carl V. Sailer(2)
|
| | | | 45,000 | | | | | | — | | | | | | 21,440 | | | | | | — | | | | | | — | | | | | | — | | | | | | 66,440 | | |
Jack H. Dean(3)
|
| | | | 40,000 | | | | | | — | | | | | | 21,440 | | | | | | — | | | | | | — | | | | | | — | | | | | | 61,440 | | |
Joseph C. Scodari(4)
|
| | | | 57,500 | | | | | | — | | | | | | 21,440 | | | | | | — | | | | | | — | | | | | | — | | | | | | 78,940 | | |
Thomas Harrison(5)
|
| | | | 52,500 | | | | | | — | | | | | | 21,440 | | | | | | — | | | | | | — | | | | | | — | | | | | | 73,940 | | |
James Donohue(6)
|
| | | | 55,000 | | | | | | — | | | | | | 21,440 | | | | | | — | | | | | | — | | | | | | — | | | | | | 76,440 | | |
| | |
(a)
Number of securities to be issued upon exercise of outstanding options, warrants and rights |
| |
(b)
Weighted average exercise price of outstanding options, warrants and rights |
| |
(c)
Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)(2) |
| |||||||||
Equity compensation plan approved by security holders(1)(3)
|
| | | | 2,874,063(1) | | | | | $ | 5.41 | | | | | | 485,868(2) | | |
Equity compensation plan not approved by security holders
|
| | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | | 2,874,063(1) | | | | | $ | 5.41 | | | | | | 485,868(2) | | |
Participant
|
| |
Shares
|
| |
Series A
Warrants |
| |
Series B
Warrants |
| |
Aggregate
Purchase Price |
| ||||||||||||
David P. Luci
|
| | | | 19,737 | | | | | | 19,737 | | | | | | 19,737 | | | | | $ | 75,000.60 | | |
Robert J. DeLuccia
|
| | | | 19,737 | | | | | | 19,737 | | | | | | 19,737 | | | | | $ | 75,000.60 | | |
Carl V. Sailer
|
| | | | 19,737 | | | | | | 19,737 | | | | | | 19,737 | | | | | $ | 75,000.60 | | |
| | |
2022
|
| |
2023
|
| ||||||
Audit fees:(1)
|
| | | | 161,125 | | | | | | 172,650 | | |
Audit related fees:(2)
|
| | | | 17,000 | | | | | | 55,500 | | |
| | | | | 178,125 | | | | | | 228,150 | | |
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