| Filed by the Registrant [X] | | | Filed by a Party other than the Registrant [ ] | |
| | | | Sincerely, | |
| | | | Name: Title: Chief Executive Officer | |
| | | | By Order of the Board of Directors, | |
| | | | Name: Title: Chief Executive Officer | |
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| | | | B-1 | | | |
| | | | C-1 | | | |
| | | | D-1 | | |
Proposal | | | Votes Required | | | Voting Options | | | Impact of “Withhold” or “Abstain” Votes | | | Broker Discretionary Voting Allowed | |
Proposal No. 1: | |||||||||||||
Election of Directors | | | A plurality of the votes cast affirmatively or negatively | | | “FOR ALL” “WITHHOLD ALL” “FOR ALL EXCEPT” | | | None(1) | | | No(2) | |
Proposal No. Approval of Amendments to the 2021 Plan to Remove the Automatic Annual Increase in Shares under the 2021 Plan and add a provision for the recoupment or clawback of awards under the 2021 Plan | | | The affirmative vote of the holders of a majority in voting power of the votes cast affirmatively or negatively (excluding abstentions) at the Annual Meeting by the holders entitled to vote thereon. | | | “FOR” “AGAINST” “ABSTAIN” | | | None(1) | | | No(2) | |
Proposal | | | Votes Required | | | Voting Options | | | Impact of “Withhold” or “Abstain” Votes | | | Broker Discretionary Voting Allowed | |
Proposal No. 3: Approval of Amendment to the 2021 Plan to Increase the Number of Shares Reserved for Issuance under the 2021 Plan | | | The affirmative vote of the holders of a majority in voting power of the votes cast affirmatively or negatively (excluding abstentions) at the Annual Meeting by the holders entitled to vote thereon. | | | “FOR” “AGAINST” “ABSTAIN” | | | None(1) | | | No(2) | |
Proposal No. 4: Approval of Amendment to Certificate of Incorporation | | | The affirmative vote of the holders of a majority in voting power of the total outstanding capital stock of the Company entitled to vote on the amendment to the Fourth Amended and Restated Certificate of Incorporation affirmatively or negatively (excluding abstentions) at the Annual Meeting by the holders entitled to vote thereon. | | | “FOR” “AGAINST” “ABSTAIN” | | | None(1) | | | No(2) | |
Proposal No. 5: Ratification of appointment of independent registered public accounting firm | | | The affirmative vote of the holders of a majority in voting power of the votes cast affirmatively or negatively (excluding abstentions) at the Annual Meeting by the holders entitled to vote thereon. | | | “FOR” “AGAINST” “ | | | None(1) | | | Yes(3) | |
| | Year Ended December 31, | | |||||||||||||||||||||||
| Year Ended December 31, | | ||||||||||||||||||||||||
| | 2021 | | 2020 | | | 2022 | | 2021 | | ||||||||||||||||
Audit fees(1) | | | $ | 175,500 | | | | $ | 140,000 | | | | | $ | 173,000 | | | | $ | 175,500 | | | ||||
Audit-related fees(2) | | | | 127,500 | | | | | 59,500 | | | | | | 16,500 | | | | | 127,500 | | | ||||
All Other Fees | | | | — | | | | | — | | | |||||||||||||||
Total fees | | | $ | 303,000 | | | | $ | 199,500 | | | | | $ | 189,500 | | | | $ | 303,000 | | |
Name | | | Age | | | Position | | |||
| | | | Chief Executive Officer, | ||||||
Chief Treasurer and Director | | |||||||||
Benjamin Bielak | | | | | Chief Information Officer | |||||
| ||||||||||
Andrew L. Ross | | | | | Chairman of the Board | | ||||
George “Bud” Scholl | | | | | Director | | ||||
Steven Gullans | | | | | Director | | ||||
John L. Brooks III | | | 72 | | | Director | | |||
Christopher Ianelli | | | 56 | | | Director | | |||
Jill Mullan | | | 58 | | | Director | | |||
Joseph J. Basile | | | 70 | | | Director | | |||
| | | | Director | |
| | Board Diversity Matrix (as of March 1, 2022) | | | | Board Diversity Matrix (as of March 27, 2023) | | | ||||||||||||||||||||||||||||||||
| | Part I: Gender Identity | | | | Male | | | | Female | | | | Non-Binary | | | | Did Not Disclose Gender | | | | Part I: Gender Identity | | | | Male | | | | Female | | | | Non-Binary | | | | Did Not Disclose Gender | | |
| | Directors (7 total) | | | | 5 | | | | 2 | | | | - | | | | - | | | | Directors (7 total) | | | | 6 | | | | 1 | | | | - | | | | - | | |
| | Part II: Demographic Background | | | | Male | | | | Female | | | | Non-Binary | | | | Did Not Disclose Gender | | | | Part II: Demographic Background | | | | Male | | | | Female | | | | Non-Binary | | | | Did Not Disclose Gender | | |
| | African American or Black | | | | - | | | | - | | | | - | | | | - | | | | African American or Black | | | | - | | | | - | | | | - | | | | - | | |
| | Alaskan Native or American Indian | | | | - | | | | - | | | | - | | | | - | | | | Alaskan Native or American Indian | | | | - | | | | - | | | | - | | | | - | | |
| | Asian | | | | - | | | | - | | | | - | | | | - | | | | Asian | | | | - | | | | - | | | | - | | | | - | | |
| | Hispanic, Latino or Latina | | | | - | | | | - | | | | - | | | | - | | | | Hispanic, Latino or Latina | | | | - | | | | - | | | | - | | | | - | | |
| | Native Hawaiian or Pacific Islander | | | | - | | | | - | | | | - | | | | - | | | | Native Hawaiian or Pacific Islander | | | | - | | | | - | | | | - | | | | - | | |
| | White | | | | 5 | | | | 2 | | | | - | | | | - | | | | White | | | | 6 | | | | 1 | | | | - | | | | - | | |
| | Two or More Races or Ethnicities | | | | - | | | | - | | | | - | | | | - | | | | Two or More Races or Ethnicities | | | | - | | | | - | | | | - | | | | - | | |
| | LGBTQ+ | | | | - | | | | LGBTQ+ | | | | - | | | ||||||||||||||||||||||||
| | Undisclosed | | | | - | | | | Undisclosed | | | | - | | |
| | | | | | | | | Salary | | | Bonus | | | awards | | | awards | | | compensation | | | earnings | | | compensation | | | Total | | ||||||||||||||||||||||||
Name and Principal Pos | | | Year | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | |||||||||||||||||||||||||||
Christopher Ianelli(1) | | | | | 2021 | | | | | $ | 300,000 | | | | | $ | 140,000 | | | | | $ | 330,213 | | | | | $ | - | | | | | $ | - | | | | | $ | - | | | | | $ | - | | | | | $ | 770,213 | | |
Chief Executive, President and Director | | | | | 2020 | | | | | $ | 250,000 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | $ | 250,000 | | |
Jill Mullan,(2) | | | | | 2021 | | | | | $ | 277,500 | | | | | $ | 113,750 | | | | | $ | 330,213 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | $ | 721,463 | | |
Chief Operating Officer, Secretary and Director | | | | | 2020 | | | | | $ | 230,000 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | $ | 230,000 | | |
Benjamin Bielak(3) | | | | | 2021 | | | | | $ | 250,000 | | | | | $ | 84,000 | | | | | $ | 300,193 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | $ | 634,193 | | |
Chief Information Officer and Treasurer | | | | | 2020 | | | | | $ | 220,000 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | $ | 220,000 | | |
Tracy Curley(4) | | | | | 2021 | | | | | $ | 282,999 | | | | | $ | 84,000 | | | | | $ | 240,153 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | $ | 607,152 | | |
Chief Financial Officer | | | | | 2020 | | | | | $ | 105,600 | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | | - | | | | | $ | 105,600 | | |
Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($) | | | Stock awards ($) | | | Option awards ($)(1) | | | All other compensation ($) | | | Total ($) | | |||||||||||||||||||||
Tracy Curley(2) | | | | | 2022 | | | | | $ | 313,385 | | | | | $ | — | | | | | $ | — | | | | | $ | 77,000(6) | | | | | $ | — | | | | | $ | 390,385 | | |
Chief Executive Officer, Chief Financial Officer and Treasurer | | | | | 2021 | | | | | $ | 282,999 | | | | | $ | 84,000 | | | | | $ | 240,153 | | | | | $ | — | | | | | $ | — | | | | | $ | 607,152 | | |
Benjamin Bielak | | | | | 2022 | | | | | $ | 301,938 | | | | | $ | 6,000(5) | | | | | $ | — | | | | | $ | 23,100(7) | | | | | $ | — | | | | | $ | 331,038 | | |
Chief Information Officer | | | | | 2021 | | | | | $ | 250,000 | | | | | $ | 84,000 | | | | | $ | 300,193 | | | | | $ | — | | | | | $ | — | | | | | $ | 634,193 | | |
Christopher Ianelli(3) | | | | | 2022 | | | | | $ | 351,346 | | | | | $ | 12,000(5) | | | | | $ | — | | | | | $ | — | | | | | $ | 2,956 | | | | | $ | 366,302 | | |
Former Chief Executive Officer, Former President and Director | | | | | 2021 | | | | | $ | 300,000 | | | | | $ | 140,000 | | | | | $ | 330,213 | | | | | $ | — | | | | | $ | — | | | | | $ | 770,213 | | |
Jill Mullan(4) | | | | | 2022 | | | | | $ | 328,750 | | | | | $ | 20,000(5) | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 348,750 | | |
Former Chief Operating Officer, Former Secretary and Director | | | | | 2021 | | | | | $ | 277,500 | | | | | $ | 113,750 | | | | | $ | 330,213 | | | | | $ | — | | | | | $ | — | | | | | $ | 721,463 | | |
| | | Option awards | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||
Name | | | 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 ($) | | | Option expiration date | | | Number of shares or units of stock that have not vested (#) | | | Market value of shares of units of stock that have not vested ($) | | | Equity incentive plan awards: Number of unearned share, units or other rights that have not vested (#) | | | Equity incentive plan awards : Market or pay our value of unearned shares, units or other rights that have not vested ($) | | ||||||||||||||||||||||||
(a) | | | (b) | | | (c) | | | (d) | | | (e) | | | (f) | | | (g) | | | (h) | | | (i) | | | (j) | | ||||||||||||||||||||||||
Christopher Ianelli | | | | | 4,508 | | | | | | — | | | | | | — | | | | | $ | 1.02 | | | | 31-Jan-29 | | | | | 41,667 | | | | | $ | 264,169 | | | | | | — | | | | | | — | | |
Christopher Ianelli | | | | | 48,106 | | | | | | — | | | | | | — | | | | | $ | 1.02 | | | | 12-Jul-29 | | | | | — | | | | | | | | | | | | — | | | | | | — | | |
Jill Mullan | | | | | 19,296 | | | | | | — | | | | | | — | | | | | $ | 1.08 | | | | 29-Jun-26 | | | | | 41,667 | | | | | $ | 264,169 | | | | | | — | | | | | | — | | |
Jill Mullan | | | | | 4,508 | | | | | | — | | | | | | — | | | | | $ | 1.02 | | | | 31-Jan-29 | | | | | — | | | | | | | | | | | | — | | | | | | — | | |
Jill Mullan | | | | | 65,792 | | | | | | — | | | | | | — | | | | | $ | 1.02 | | | | 12-Jul-29 | | | | | — | | | | | | | | | | | | — | | | | | | — | | |
Benjamin Bielak | | | | | 20,513 | | | | | | 2,931 | | | | | | — | | | | | $ | 1.56 | | | | 14-Jun-28 | | | | | 37,879 | | | | | $ | 240,153 | | | | | | — | | | | | | — | | |
Benjamin Bielak | | | | | 4,508 | | | | | | — | | | | | | — | | | | | $ | 1.02 | | | | 31-Jan-29 | | | | | — | | | | | | | | | | | | — | | | | | | — | | |
Tracy Curley | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | — | | | | | 30,304 | | | | | $ | 192,127 | | | | | | — | | | | | | — | | |
| | | Option Awards | | | Stock awards | | ||||||||||||||||||||||||
Name | | | Number of securities underlying unexercised options (#) exercisable | | | Number of securities underlying unexercised options (#) unexercisable | | | Option exercise price ($) | | | Option expiration date | | | Number of shares of units of stock that have not vested (#) | | | Market value of shares of units of stock that have not vested ($)(3) | | ||||||||||||
Tracy Curley | | | | | — | | | | | | 100,000 | | | | | $ | 1.61 | | | | October 31, 2032 | | | 22,728 (1) | | | | $ | 31,137 | | |
Benjamin Bielak | | | | | — | | | | | | 30,000 | | | | | $ | 1.61 | | | | October 31, 2032 | | | 28,410 (2) | | | | $ | 38,922 | | |
Benjamin Bielak | | | | | 4,396 | | | | | | — | | | | | $ | 1.00 | | | | July 27, 2028 | | | — | | | | | — | | |
Benjamin Bielak | | | | | 1,127 | | | | | | 282 | | | | | $ | 1.00 | | | | April 26, 2029 | | | — | | | | | — | | |
| Name | | Fees earned or paid in cash ($) | | Stock awards ($) | | | | | | | Options awards ($)(6) | | | | | | | Non-equity incentive plan compensation ($) | | Non qualified deferred compensation earnings ($) | | All other compensation ($) | | Total ($) | | Name and Principal Position | | Fees earned or paid in cash ($) | | Stock awards($) | | Option awards ($)(9) | | Non-equity incentive plan compensation ($) | | Non-qualified deferred compensation earnings ($) | | All other compensation ($) | | Total($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| (a) | | (b) | | (c) | | | | | | | (d) | | | | | | | (e) | | (f) | | (g) | | (h) | | Andrew L. Ross, Chairman of the Board(1) | | | $ | 20,000 | | | $1,088(10) | | $— | | | | — | | | | | — | | | | | — | | | | $ | 21,088 | | | |||||||||||||||||||||||||||||||||||||
| Andrew Ross(1) Chairman of the Board | | | $ | 10,493 | | | | $ | 15,700 | | | | | (7) | | | | $ | 52,288 | | | | | (12) | | | | | - | | | | | - | | | | | - | | | | $ | 78,481 | | | George “Bud” Scholl(2) Director | | | $ | 20,000 | | | $1,088(11) | | $— | | | | — | | | | | — | | | | | — | | | | $ | 21,088 | | | ||||||||||||||||
| Bud Scholl (2) Director | | | $ | 10,493 | | | | $ | 15,700 | | | | | (8) | | | | $ | 52,288 | | | | | (13) | | | | | - | | | | | - | | | | | - | | | | $ | 78,481 | | | Steven Gullans(3) Director | | | $ | 20,000 | | | $1,088(12) | | $— | | | | — | | | | | — | | | | | — | | | | $ | 21,088 | | | ||||||||||||||||
| Steven Gullans(3) Director | | | $ | 22,932 | | | | $ | 15,700 | | | | | (9) | | | | $ | 52,288 | | | | | (14) | | | | | - | | | | | - | | | | | - | | | | $ | 90,920 | | | John L. Brooks(4) Director | | | $ | 20,000 | | | $1,088(13) | | $— | | | | — | | | | | — | | | | | — | | | | $ | 21,088 | | | ||||||||||||||||
| Magaret Lawrence(4) Director | | | $ | 10,493 | | | | $ | 15,700 | | | | | (10) | | | | $ | 52,288 | | | | | (15) | | | | | - | | | | | - | | | | | - | | | | $ | 78,481 | | | Christopher Ianelli(5) Director | | | $ | 3,641 | | | $— | | $— | | | | — | | | | | — | | | | | — | | | | $ | 3,641 | | | ||||||||||||||||
| John Brooks(5) Director | | | $ | 10,493 | | | | $ | 15,700 | | | | | (11) | | | | $ | 52,288 | | | | | (16) | | | | | - | | | | | - | | | | | - | | | | $ | 78,481 | | | Jill Mullan(6) Director | | | $ | 3,641 | | | $— | | $— | | | | — | | | | | — | | | | | — | | | | $ | 3,641 | | | ||||||||||||||||
| Joseph J. Basile(7) Director | | | $ | 1,793 | | | $— | | $663 (14) | | | | — | | | | | — | | | | | — | | | | $ | 2,456 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Margaret H. Lawrence(8) Director | | | $ | 17,500 | | | $— | | $— | | | | — | | | | | — | | | | | — | | | | $ | 17,500 | | |
Plan | | | Number of Shares Issued | | | Number of Shares Reserved for Issuance | | | Number of Shares underlying Outstanding Options, Restricted Stock Units or Warrants | | | Number of Shares Remaining Available for Future Issuance | | ||||||||||||
2010 Stock Incentive Plan | | | | | 156,615 | | | | | | 270,513 | | | | | | 113,898 | | | | — | | |||
2013 Stock Incentive Plan | | | | | 65,235 | | | | | | 309,029 | | | | | | 137,949 | | | | | | 105,845 | | |
Amended and Restated 2021 Stock Incentive Plan | | | | | 44,126 | | | | | | 608,000 | | | | 337,710 | | | | | 226,164 | | |
Plan | | | Number of Shares Reserved for Issuance | | | Number of Shares Issued | | | Number of Shares underlying Outstanding Options | | | Number of Shares Remaining Available for Future Issuance | | ||||||||||||
2013 Stock Incentive Plan | | | | | 309,029 | | | | | | 308,942 | | | | | | 134,661 | | | | | | 87 | | |
2021 Stock Incentive Plan | | | | | 608,000 | | | | | | 485,985 | | | | | | 95,243 | | | | | | 122,015 | | |
Title of Class | | Name and Address of Beneficial Owner | | Amount and Nature of Beneficial Ownership | | Percentage of Class(2) | | | Name and Address of Beneficial Owner | | Amount and Nature of Beneficial Ownership | | Percentage of Class(3) | | ||||||||||||
Directors and Executive Officers | | | | | | | | | | | | | | | | | | | | | ||||||
Common Stock | | Andrew L. Ross(1) | | 1,312,399(3) | | | | 14.88% | | | | Andrew L. Ross(1) | | 1,336,730(4) | | | | 14.8% | | | ||||||
Common Stock | | Christopher Ianelli(1) | | 402,442(4) | | | | 4.53% | | | | Christopher Ianelli(1) | | 427,950(5) | | | | 4.7% | | | ||||||
Common Stock | | Jill Mullan(1) | | 222,530(5) | | | | 2.50% | | | | Jill Mullan(1) | | 248,817(6) | | | | 2.8% | | | ||||||
Common Stock | | Benjamin Bielak(1) | | 33,362(6) | | | | ** | | | | Benjamin Bielak(1) | | 44,025(7) | | | | ** | | | ||||||
Common Stock | | Tracy Curley(1) | | 17,575(7) | | | | ** | | | | Tracy Curley(1) | | 22,412(8) | | | | ** | | | ||||||
Common Stock | | George “Bud” Scholl(1) | | 843,856(8) | | | | 9.57% | | | | George “Bud” Scholl(1) | | 855,621(9) | | | | 9.5% | | | ||||||
Common Stock | | Steven Gullans(1) | | 8,637(9) | | | | ** | | | | Steven Gullans(1) | | 15,894(10) | | | | ** | | | ||||||
Common Stock | | John L. Brooks III(1) | | 1,875(10) | | | | ** | | | | John L. Brooks III(1) | | 13,640(11) | | | | ** | | | ||||||
Common Stock | | Margaret H. Lawrence(1) | | 1,875(11) | | | | ** | | | | Joseph J. Basile(1) | | 2,980(12) | | | | ** | | | ||||||
| | All Directors and Officers as a Group | | | | |||||||||||||||||||||
Common Stock | | (9 persons) | | 2,844,551 | | | | 32.26% | | | | All Directors and Officers as a Group (9 persons) | | 2,968,069 | | | | 32.7% | | | ||||||
5% or Greater Stockholders | | | | | | | | | | | | | | | | | | | | | ||||||
Common Stock | | OBF Investments(1) | | 841,981 | | | | 9.55% | | | | OBF Investments(1) | | 841,981 | | | | 9.3% | | | ||||||
Common Stock | | James G. Wolf(2) | | 790,730(13) | | | | 8.8% | | |