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Pennsylvania
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33-0272839
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification No.)
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Large accelerated filer
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o
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Accelerated filer
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o
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Non-accelerated filer
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o
(Do not check if a smaller reporting company)
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Smaller reporting company
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ý
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Item 10.
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Directors and Executive Officers and Corporate Governance
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Name
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Age
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Position
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Richard J. DePiano
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76
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Chairman
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Richard J. DePiano, Jr.
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51
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Chief Executive Officer, President and General Counsel and Director
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Mark G. Wallace
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48
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Chief Operating Officer and Principal Financial & Accounting Officer
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Lisa A. Napolitano
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54
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Director
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C. Todd Trusk
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50
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Director
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Sean C. Closkey
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49
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Director
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•
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The Company is obligated to pay the executive $8,491 per month for life, with payments commencing the month after retirement. The payout continued in 2017.
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Name and Principal Position (2)
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Year
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Salary
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Bonus
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Stock
Awards
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Option
Awards (1)
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Non-Equity
Incentive Plan
Compensation
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Nonqualified
Deferred
Compensation
Earnings
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All Other
Compensation (1)
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Total
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||||||||||||||||
Richard J. DePiano
Chairman
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2017
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$
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26,000
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$
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—
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$
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111,981
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$
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137,981
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2016
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$
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31,000
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$
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6,038
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$
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111,981
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$
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149,019
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2015
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$
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50,000
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$
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15,264
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$
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110,391
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$
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175,655
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||||||||||
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Richard J. DePiano, Jr.
Chief Executive Officer, President and General Counsel
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2017
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$
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182,000
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$
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—
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$
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—
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$
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—
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$
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—
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$
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—
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$
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12,222
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$
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194,222
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2016
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$
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182,000
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$
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—
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$
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—
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$
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18,690
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$
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—
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$
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—
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$
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12,222
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$
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212,912
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2015
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$
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215,000
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$
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—
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$
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—
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$
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18,690
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$
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—
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$
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—
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$
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11,310
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$
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245,000
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Robert M. O’Connor
Chief Financial Officer
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2017
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$
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181,000
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$
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—
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$
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—
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$
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—
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$
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—
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$
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—
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$
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11,922
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$
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192,922
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2016
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$
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181,000
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$
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—
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$
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—
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$
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14,537
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$
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—
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$
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—
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$
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11,922
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$
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207,459
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2015
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$
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212,589
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$
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—
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$
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—
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$
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14,537
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$
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—
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$
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—
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$
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10,842
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$
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237,968
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Mark Wallace
Chief Operating Officer and Principal Financial & Accounting Officer
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2017
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$
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149,000
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$
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—
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$
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—
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$
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—
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$
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—
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$
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—
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$
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810
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$
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149,810
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2016
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$
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154,000
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$
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—
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$
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—
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$
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14,537
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$
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—
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$
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—
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$
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810
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$
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169,347
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2015
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$
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175,000
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$
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—
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$
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—
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$
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14,537
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$
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—
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$
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—
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$
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810
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$
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190,347
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Option Awards
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|||||||||||||||
Name
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Number of
Securities
Underlying
Unexercised
Options
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Number of
Securities
Underlying
Unexercised
Options
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Equity
Incentive
Plan Awards:
Number of
Securities
Underlying
Unexercised
Unearned
Options
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Option
Exercise
Price
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Option
Expiration
Date
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Exercisable
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Unexercisable
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Richard J. DePiano
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25,000
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—
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—
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$
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3.05
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11/13/2017
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25,000
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—
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—
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$
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2.22
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9/26/2018
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20,000
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—
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—
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$
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1.51
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11/16/2019
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10,000
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—
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—
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$
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1.57
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5/7/2024
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10,000
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—
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—
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$
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0.79
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5/7/2026
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Richard J. DePiano, Jr.
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20,000
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—
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—
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$
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3.05
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11/13/2017
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20,000
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—
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—
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$
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2.22
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9/26/2018
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12,000
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—
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—
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$
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1.51
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11/16/2019
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45,000
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—
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—
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$
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1.57
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5/7/2024
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Robert M. O’Connor
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20,000
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—
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—
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$
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3.05
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11/13/2017
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20,000
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—
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—
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$
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2.22
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9/26/2018
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1,200
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—
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—
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$
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1.51
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11/16/2019
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35,000
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—
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$
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1.57
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5/7/2024
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Mark Wallace
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5,000
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—
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—
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$
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3.05
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11/13/2017
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20,000
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—
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—
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$
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2.22
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9/26/2018
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10,000
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—
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—
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$
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1.51
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11/16/2019
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35,000
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—
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—
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$
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1.57
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5/7/2024
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ITEM 12.
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SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
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Name
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Amount of
Beneficial
Ownership
of
Outstanding
Shares (1)
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Percent
of Class
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Amount of
Beneficial
Ownership of
Shares
Underlying
Options
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Amount of
Aggregate
Beneficial
Ownership
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Aggregate
Percent of
Class
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|||||
Richard J. DePiano
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144,278
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1.9
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%
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90,000
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234,278
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3.1
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%
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Richard J. DePiano, Jr.
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206
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—
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%
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97,000
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97,206
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1.3
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%
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Robert M. O'Connor
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—
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—
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%
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76,200
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76,200
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1.0%
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Mark G. Wallace
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—
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—
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%
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70,000
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70,000
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*
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Lisa A. Napolitano
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—
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—
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%
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56,000
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56,000
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*
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C. Todd Trusk
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—
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—
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%
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7,000
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7,000
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*
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Sean C. Closkey
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—
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—
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%
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9,000
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9,000
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*
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All Directors and Executive Officers as a group (7 persons)
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144,484
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1.9
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%
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405,200
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549,684
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7.3
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%
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(*)
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Less than on percent
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Plan Category
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Number of Shares to be
issued upon exercise of
outstanding stock options
(a)
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Weighted-average exercise
price of outstanding stock
options
(b)
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Number of securities remaining
available for future issuance
under equity compensation plans
(excluding securities reflected in
column a))
(c)
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Equity Compensation plans approved by shareholders
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502,000
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$
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2.12
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Equity Compensation plans not approved by shareholders
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—
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—
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—
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502,000
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$
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2.12
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—
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Item 13.
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Certain Relationships and Related Transactions, and Director Independence.
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ITEM 14.
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Principal Accounting Fees and Services
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|
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Escalon Medical Corp.
(Registrant)
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||
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|
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By:
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/s/ Richard J. DePiano, Jr.
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Richard J. DePiano, Jr.
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Chief Executive Officer
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