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center style='font:12pt Times New Roman;margin:0'> UNITED STATES
center style='font:12pt Times New Roman;margin:0'> SECURITIES AND EXCHANGE COMMISSION
center style='font:12pt Times New Roman;margin:0'> Washington, D.C. 20549
center style='font:10pt Times New Roman;margin:0'>
center style='font:12pt Times New Roman;margin:0'> font-size:14pt> SCHEDULE 14A
justify style='font:10pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0'> Proxy Statement Pursuant to Section 14(a) of the
center style='font:10pt Times New Roman;margin:0'> Securities Exchange Act of 1934
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'>Filed by the Registrant font-family:Wingdings>ý
justify style='font:10pt Times New Roman;margin:0'>Filed by a party other than the Registrant font-family:Wingdings>¨
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'>Check the appropriate box:
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> font-family:Wingdings>¨ Preliminary Proxy Statement
justify style='font:10pt Times New Roman;margin:0'> font-family:Wingdings>¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
justify style='font:10pt Times New Roman;margin:0'> font-family:Wingdings>ý Definitive Proxy Statement
justify style='font:10pt Times New Roman;margin:0'> font-family:Wingdings>¨ Definitive Additional Materials
justify style='font:10pt Times New Roman;margin:0'> font-family:Wingdings>¨ Soliciting Material Pursuant to 14a-12
justify style='font:10pt Times New Roman;margin:0'>
center style='font:14pt Times New Roman;margin:0'> OMNITEK ENGINEERING CORP.
center style='font:10pt Times New Roman;margin:0'>(Name of Registrant as Specified in its Charter)
justify style='font:10pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0'>(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'>Payment of Filing Fee (Check the appropriate box):
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> font-family:Wingdings>ý No fee required.
justify style='font:10pt Times New Roman;margin:0'> font-family:Wingdings>¨ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>(1) Title of each class of securities to which transaction applies:
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>(2) Aggregate number of securities to which transaction applies:
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>(4) Proposed maximum aggregate value of transaction:
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>(5) Total fee paid:
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> font-family:Wingdings>¨ Fee paid previously with preliminary materials:
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> font-family:Wingdings>¨ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>(1) Amount Previously Paid:
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>(2) Form, Schedule or Registration Statement No.:
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>(3) Filing Party:
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>(4) Date Filed:
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center style='font:12pt Times New Roman;margin:0'> Omnitek Engineering Corp.
center style='font:10pt Times New Roman;margin:0'>1345 Specialty Dr., #E
center style='font:10pt Times New Roman;margin:0'> Vista, CA 92081
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justify style='font:10pt Times New Roman;margin:0'>Dear Fellow Shareholder:
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justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>On behalf of your Board of Directors, I cordially invite you to attend the 2024 Annual Meeting of Shareholders of Omnitek Engineering Corp., which will be held on Friday, September 6, 2024 at 9:00 a.m. Pacific Standard Time.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>We are very pleased again this year to be using the Securities and Exchange Commission rule allowing companies to furnish proxy materials to shareholders electronically. We believe that this e-proxy process expedites our shareholders' receipt of proxy materials, lowers the cost of distribution and reduces the environmental impact of our Annual Meeting.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>We are actively monitoring the status of COVID-19 and changes to policies and recommended protocols of local, state and federal governments as they relate to thereto. We are focused on the safety and well-being of our shareholders and will enact measures at the meeting that will satisfy requirements for social distancing and will provide masks and hand sanitizer at the meeting. Although, the Company is able to follow currently recommended COVID-19 precautions, the Company reserves the right to reschedule the Meeting depending on developments.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>In accordance with this rule, we sent a Notice of Availability of Proxy Materials (“Notice of Availability”) on or about July 22, 2024 to shareholders of record as of the close of business on July 10, 2024. The Notice of Availability contained instructions on how to access our Proxy Statement, our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and vote online. If you did not receive a printed copy of our proxy materials and would like to receive one from us instead of downloading a printable version, please follow the instructions for requesting such materials included in the Notice of Availability, as well as in the attached Proxy Statement. Details of the business to be conducted at the Annual Meeting are given in the attached Notice of Annual Meeting of Shareholders and the attached Proxy Statement. At the Annual Meeting we will also respond to your questions.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Your vote is important. Whether or not you plan to attend the Annual Meeting, we urge you to read our Proxy Statement and vote. You may submit your proxy electronically, by telephone or by mail.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>I look forward to our 2024 Annual Meeting of Shareholders.
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justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
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Date: July 19, 2024 |
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Werner Funk, |
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President and Chief Executive Officer |
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By order of the Board of Directors, |
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Date: July 19, 2024 |
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Werner Funk, |
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President and Chief Executive Officer |
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justify style='font:3pt Times New Roman;margin:0'> |
center style='font:12pt Times New Roman;margin:0'>
center style='font:14pt Times New Roman;margin:0'> Proxy Statement
center style='font:14pt Times New Roman;margin:0'> Annual Meeting of Shareholders
center style='font:14pt Times New Roman;margin:0'> September 6, 2024
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center style='font:14pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0'> INFORMATION CONCERNING SOLICITATION AND VOTING
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> General
justify style='font:10pt Times New Roman;margin-top:5pt;margin-bottom:5pt;color:#0000FF'> margin-left:36pt> color:#000000>The enclosed proxy is solicited on behalf of the Board of Directors of Omnitek Engineering Corp. (the “Company” or “Omnitek”) for use at the Annual Meeting of Shareholders to be held Friday September 6, 2024 at 9:00 a.m. Pacific Standard Time, or at any adjournment thereof, for purposes set forth herein and in the accompanying Notice of Annual Meeting of Shareholders. The meeting will be held at the Company’s principal executive offices at OLE_LINK4 /> OLE_LINK5 /> color:#000000>1345 Specialty Dr., #E, Vista, CA 92081. The telephone number for contacting the Company regarding the meeting is (760) 591-0888. When proxies are properly dated, executed and returned, or voted by Internet or phone, the shares they represent will be voted at the meeting in accordance with the instructions of the shareholder. If no specific instructions are given, the shares will be voted for the election of the nominees for directors set forth herein and, at the discretion of the proxy holders, upon such other business as may properly come before the meeting or any adjournment or postponement thereof. This Proxy Statement, the 2023 Annual Report on Form 10-K for the year ended December 31, 2023, and the accompanying proxy card are first being made available to shareholders on or about July 22, 2024.
justify style='font:10pt Times New Roman;margin:0'> Voting Securities and Record Date
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>The Company has one class of stock outstanding, Common Stock, no par value per share (“Common Stock”). This class of stock is the only class of stock entitled to notice and the right to vote on the matters of the Company. At the record date there were 21,948,091 shares of Common Stock issued and outstanding.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>The board of directors has fixed the close of business on July 10, 2024 as the Record Date (the “Record Date”). Shareholders of record at the close of business on the Record Date are entitled to notice and to vote at the meeting or any postponements or adjournments, on the basis of one vote for each share of Common Stock that they own.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> Revocability of Proxies
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Any proxy given pursuant to this solicitation may be revoked by the person giving it at any time before its use by delivering a written notice of revocation or a duly executed proxy bearing a later date, to the Company, Attention: Werner Funk, President, or by attending the meeting and voting in person.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'> Appraisal Rights
justify style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'>
justify style='font:10pt Times New Roman;margin:0;color:#000000'> margin-left:36pt> Under the California General Corporation Law, our shareholders are not entitled to appraisal rights or other similar rights in connection with any matter to be acted upon at this meeting.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> Solicitation
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>The cost of solicitation will be borne by the Company. In addition, the Company may reimburse brokerage firms and other persons representing beneficial owners of shares for their expenses in forwarding solicitation materials to such beneficial owners. Proxies may be solicited by the Company’s directors, officers and employees, without additional compensation, personally or by telephone, facsimile or telegram. Although the exact cost of preparation, mailing and holding of the meeting is not known at this time, it is anticipated that the cost will be approximately $5,000.
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justify style='font:10pt Times New Roman;margin:0'> Voting Rights
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> margin-left:36pt> Under the California Corporations Code, the Company’s Articles of Incorporation, and its Bylaws, the holders of Common Stock shall be entitled to vote one vote for each share of stock held as of the Record Date for all matters, including the election of directors. The required quorum for the transaction of business at the Annual Meeting is a majority of the votes eligible to be cast by holders of shares of common stock issued and outstanding on the Record Date. Shares that are voted “FOR,” “AGAINST,” “WITHHELD” OR “ABSTAIN” are treated as being present at the Annual Meeting for the purposes of establishing a quorum and are also treated as shares entitled to vote at the Annual Meeting (the “Votes Cast”) with respect to such matter. Abstentions will not be counted as a vote FOR or AGAINST a proposal. Broker non-votes will be counted for the purpose of determining the presence or absence of a quorum for the transaction of business, but such non-votes will not be counted for the purposes of determining the number of Votes Cast with respect to the particular proposal on which a broker has expressly not voted. Thus, a broker non-vote will not affect the outcome of the voting on a proposal. Except with respect to elections of directors, any shareholder entitled to vote may vote part of his or her shares in favor of a proposal and refrain from voting the remaining shares, or vote them against the proposal. If a shareholder fails to specify the number of shares he or she is affirmatively voting, it will be conclusively presumed that the shareholder's approving vote is with respect to all shares the shareholder is entitled to vote.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> Cumulative Voting
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>With respect to voting on the election of directors, shareholders shall not be entitled to cumulate votes unless the candidates' names have been placed in nomination before the commencement of the voting and a shareholder has given notice at the meeting, and before the voting has begun, of his or her intention to cumulate votes. If any shareholder has given such notice, then all shareholders entitled to vote may cumulate their votes by giving one candidate a number of votes equal to the number of directors to be elected multiplied by the number of his or her shares or by distributing such votes on the same principle among any number of candidates as he or she thinks fit. The candidates receiving the highest number of votes, up to the number of directors to be elected, shall be elected. Votes cast against a candidate or which are withheld shall have no effect. Upon the demand of any shareholder made before the voting begins, the election of directors shall be by ballot rather than by voice vote. In the event that cumulative voting is invoked, the proxy holders will have the discretionary authority to vote all proxies received by them in such a manner as to ensure the election of as many of the Board of Directors’ nominees as possible.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> Voting Proxies
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> margin-left:36pt> The shares of Common Stock represented by all properly executed proxies received in time for the meeting will be voted in accordance with the directions given by the shareholders. If no specification is made, the shares will be voted “FOR” the nominees named herein as directors, or their respective substitute as may be appointed by the Board of Directors and “FOR” all other proposals.
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center style='font:10pt Times New Roman;margin:0'> Security Ownership of Certain Beneficial Owners and Management
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>The following table sets forth information with respect to the beneficial ownership of the Company’s common stock as of July 10, 2024 by, (i) each person or group of affiliated persons known to the Company to beneficially own 5% or more of its common stock, (ii) each of our current executive officers, (iii) each of our directors and, (iv) and all of our current executive officers and directors as a group.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>Percentage of beneficial ownership is calculated based on 21,948,091 shares of common stock outstanding as of July 10, 2024. Beneficial ownership is determined in accordance with the rules of the SEC which generally attribute beneficial ownership of securities to persons who possess sole or shared voting power or investment power with respect to those securities and includes shares of our common stock issuable pursuant to the exercise of stock options, warrants, preferred stock or other securities that are immediately exercisable or convertible or exercisable or convertible within 60 days.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>To calculate a shareholder’s percentage of beneficial ownership of common stock, we must include in the numerator and denominator those shares of common stock underlying options, warrants and convertible securities that such shareholder is considered to beneficially own. Shares of common stock underlying options, warrants and convertible securities held by other shareholders’, however, are disregarded in this calculation. Therefore, the denominator used in calculating beneficial ownership of each of the shareholders may be different.
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center style='font:10pt Times New Roman;margin:0;color:#000000'> Name and center style='font:10pt Times New Roman;margin:0;color:#000000'> Address of center style='font:10pt Times New Roman;margin:0;color:#000000'> Beneficial center style='font:10pt Times New Roman;margin:0;color:#000000'> Owner |
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center style='font:10pt Times New Roman;margin:0;color:#000000'> Amount and center style='font:10pt Times New Roman;margin:0;color:#000000'> Nature of center style='font:10pt Times New Roman;margin:0;color:#000000'> Beneficial center style='font:10pt Times New Roman;margin:0;color:#000000'> Owner |
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center style='font:10pt Times New Roman;margin:0;color:#000000'> Percent of center style='font:10pt Times New Roman;margin:0;color:#000000'> Class |
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center style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#CCEEFF'>Common Stock |
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Werner Funk Trust 1345 Specialty Dr., #E Vista, CA 92081 |
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center style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#CCEEFF'>9,296,526 (1) (2) |
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center style='font:10pt Times New Roman;margin:0;color:#FF0000;background-color:#CCEEFF'> color:#000000>42.32% |
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bottom style=background-color:#CCEEFF;width:20%>
center style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#CCEEFF'>Common Stock |
bottom style=background-color:#CCEEFF;width:2%>
|
bottom style=background-color:#CCEEFF;width:2%>
|
bottom style=background-color:#CCEEFF;width:28.04%>
Gary S. Maier 1345 Specialty Dr., #E Vista, CA 92081 |
bottom style=background-color:#CCEEFF;width:2%>
|
bottom style=background-color:#CCEEFF;width:2%>
|
bottom style=background-color:#CCEEFF;width:21.98%>
center style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#CCEEFF'>461,500 (3) |
bottom style=background-color:#CCEEFF;width:2%>
|
bottom style=background-color:#CCEEFF;width:19.98%>
center style='font:10pt Times New Roman;margin:0;color:#FF0000;background-color:#CCEEFF'> color:#000000>2.10% |
|
bottom style=width:20%>
right style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'> |
bottom style=width:2%>
|
bottom style=width:2%>
|
bottom style=width:28.04%>
right style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'> |
bottom style=width:2%>
|
bottom style=width:2%>
|
bottom style=width:21.98%>
right style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'> |
bottom style=width:2%>
|
bottom style=width:19.98%>
right style='font:10pt Times New Roman;margin:0;color:#FF0000;background-color:#FFFFFF'> |
|
bottom style=background-color:#CCEEFF;width:20%>
center style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#CCEEFF'>Common Stock |
bottom style=background-color:#CCEEFF;width:2%>
|
bottom style=background-color:#CCEEFF;width:2%>
|
bottom style=background-color:#CCEEFF;width:28.04%>
John M. Palumbo 1345 Specialty Dr., #E Vista, CA 92081 |
bottom style=background-color:#CCEEFF;width:2%>
|
bottom style=background-color:#CCEEFF;width:2%>
|
bottom style=background-color:#CCEEFF;width:21.98%>
center style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#CCEEFF'>499,820 (4) |
bottom style=background-color:#CCEEFF;width:2%>
|
bottom style=background-color:#CCEEFF;width:19.98%>
center style='font:10pt Times New Roman;margin:0;color:#FF0000;background-color:#CCEEFF'> color:#000000>2.28% |
|
bottom style=width:20%>
right style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'> |
bottom style=width:2%>
|
bottom style=width:2%>
|
bottom style=width:28.04%>
right style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'> |
bottom style=width:2%>
|
bottom style=width:2%>
|
bottom style=width:21.98%>
right style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'> |
bottom style=width:2%>
|
bottom style=width:19.98%>
right style='font:10pt Times New Roman;margin:0;color:#FF0000;background-color:#FFFFFF'> |
|
bottom style='background-color:#CCEEFF;width:20%;border-bottom:0.5pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#CCEEFF'>Common Stock |
bottom style='background-color:#CCEEFF;width:2%;border-bottom:0.5pt solid #000000'>
|
bottom style='background-color:#CCEEFF;width:2%;border-bottom:0.5pt solid #000000'>
|
bottom style='background-color:#CCEEFF;width:28.04%;border-bottom:0.5pt solid #000000'>
Directors and Executive Officers as a Group (3 persons) |
bottom style='background-color:#CCEEFF;width:2%;border-bottom:0.5pt solid #000000'>
|
bottom style='background-color:#CCEEFF;width:2%;border-bottom:0.5pt solid #000000'>
|
bottom style='background-color:#CCEEFF;width:21.98%;border-bottom:0.5pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#CCEEFF'>10,697,846 |
bottom style='background-color:#CCEEFF;width:2%;border-bottom:0.5pt solid #000000'>
|
bottom style='background-color:#CCEEFF;width:19.98%;border-bottom:0.5pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#FF0000;background-color:#CCEEFF'> color:#000000>48.71% |
justify style='font:10pt Times New Roman;margin:0;margin-left:45pt;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;margin-left:63pt;color:#000000'> (1) This amount includes 8,413,192 shares of common stock, currently vested options to purchase 866,667 shares of Common Stock, and options to purchase 16,667 shares of Common Stock which will vest within 60 days.
justify style='font:10pt Times New Roman;margin:0;text-indent:-18pt;margin-left:63pt;color:#000000'>(2) Werner Funk, the Trustee of the Werner Funk Trust UDT 9/25/07 has sole voting and dispositive power of said shares. ITEM12 />
justify style='font:10pt Times New Roman;margin:0;margin-left:63pt;color:#000000'> (3) This amount includes 110,500 shares of common stock held by Mr. Maier directly, and currently vested options to purchase 350,000 shares of common stock. Does not include 10,000 shares of common stock held by Mr. Maier’s spouse.
justify style='font:10pt Times New Roman;margin:0;margin-left:63pt;color:#000000'> (4) This amount includes 149,820 shares of common stock and currently vested options to purchase 350,000 shares of common stock.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> Section 16(a) Beneficial Ownership Reporting Compliance
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Section 16(a) of the Securities Exchange Act of 1934 requires the Company's executive officers, directors and persons who own more than ten percent of the Company's Common Stock, to file initial reports of beneficial ownership on Form 3, changes in beneficial ownership on Form 4 and an annual statement of beneficial ownership on Form 5, with the SEC. Such executive officers, directors and greater than ten percent shareholders are required by SEC rules to furnish the Company with copies of all such forms that they have filed.
center style='font:10pt Times New Roman;margin:0'>Page 6 of 12
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justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Based solely on its review of the copies of such forms filed with the SEC electronically, received by the Company and representations from certain reporting persons, the Company believes that for the fiscal year ended December 31, 2020, all the officers, directors and more than 10% beneficial owners complied with the above described filing requirements.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0'> Information about the Board of Directors and Its Committees
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>During the fiscal year 2023, 4 meetings of the Board of Directors were held. The Board took action by unanimous written consent on four occasions.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>During the fiscal year 2022 four meetings of the Board of Directors were held. The Audit Committee held one meeting. The Board took action by unanimous written consent on four occasions.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>The Board of Directors serves as the Compensation Committee (the “Compensation Committee”), and as Administrator (the “Plan Administrator”) of the 2017 Long-Term Incentive Plan, the 2015 Long-Term Incentive Plan and the 2011 Long-Term Incentive Plan. The Compensation Committee reviews and makes recommendations regarding annual compensation for Company officers. The Plan Administrator reviews and affects the grant of options under the Company’s 2017 Long-Term Incentive Plan (the “2017 Plan”), and 2015 Long-Term Incentive Plan (the “2015 Plan”) by execution of instruments in writing in a form approved by the Stock Option Committee. Subject to the express terms and conditions of the 2017 Plan and 2015 Plan (the “Incentive Plans”), the Plan Administrator shall have full power to construe the Incentive Plans and the terms of any option granted under the Incentive Plans, to prescribe, amend and rescind rules and regulations relating to the Incentive Plans or options and to make all other determinations necessary or advisable for the Incentive Plans’ administration.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'> Audit Committee and Audit Committee Financial Expert
justify style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'>Our board of directors is comprised of three directors, two of which are outside independent directors, and comprise our audit committee. John M. Palumbo, considered an audit committee financial expert, chairs our audit committee.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'>
justify style='font:10pt Times New Roman;margin:0;color:#000000'> Code of Ethics
justify style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'>On August 3, 2012, Omnitek, in accordance with Section 406 of the Sarbanes-Oxley Act of 2002 adopted a Code of Ethics that applies to its principal executive officer, principal financial officer, and principal accounting officer that is reasonably designed to deter wrongdoing and to promote:
justify style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'>
justify style='font:10pt Times New Roman;margin:0;margin-left:54pt'> font-family:Symbol>· Honest and ethical conduct, including ethical handling of actual or apparent conflicts of interest between personal and professional relationship;
justify style='font:10pt Times New Roman;margin:0;margin-left:54pt'> font-family:Symbol>· Full, fair, accurate, timely and understandable disclosure in SEC reports and in other public communications;
justify style='font:10pt Times New Roman;margin:0;margin-left:54pt'> font-family:Symbol>· Compliance with applicable governmental laws, rules and regulations;
justify style='font:10pt Times New Roman;margin:0;margin-left:54pt'> font-family:Symbol>· Prompt internal reporting of violations of the code of ethics to appropriate person or persons identified in the code of ethics; and
justify style='font:10pt Times New Roman;margin:0;margin-left:54pt'> font-family:Symbol>· Accountability for adherence to the code of ethics.
justify style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'>The description of the Code of Ethics contained in this report is qualified in its entirety by reference to the full text of the Code of Ethics filed as Exhibit 14.01 to that certain Current Report on Form 8-K filed August 7, 2012. The Code of Ethics shall be available on Omnitek’s website at www.omnitekcorp.com
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justify style='font:10pt Times New Roman;margin:0'> Compensation of Directors and Executive Officers
justify style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'>
justify style='font:10pt Times New Roman;margin:0;color:#000000'>The following table sets forth the compensation paid to our Chief Executive Officer and those executive officers that earned in excess of $100,000 during the periods ended December 31, 2023, and 2022, (collectively, the “Named Executive Officers”):
justify style='font:10pt Times New Roman;margin:0;color:#000000'>
|
bottom style=width:15.2%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>Name and Principal Position |
bottom style=width:9.5%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>Year Ended Dec. 31 |
bottom style=width:2.6%>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
bottom style=width:10.38%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>Salary center style='font:10pt Times New Roman;margin:0;color:#000000'>($) |
bottom style=width:9.52%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>Stock Award(s) center style='font:10pt Times New Roman;margin:0;color:#000000'>($) |
bottom style=width:2.6%>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
bottom style=width:8.66%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>Option Awards center style='font:10pt Times New Roman;margin:0;color:#000000'>($) |
bottom style=width:13.84%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>Non-Equity Incentive Plan Compensation |
bottom style=width:2.6%>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
bottom style=width:13.84%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>All Other Compensation center style='font:10pt Times New Roman;margin:0;color:#000000'>($) |
bottom style=width:2.6%>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
bottom style=width:8.64%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>Total center style='font:10pt Times New Roman;margin:0;color:#000000'>($) |
|
middle style='width:15.2%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>(a) |
middle style='width:9.5%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>(b) |
middle style='width:2.6%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:10.38%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>(c) |
middle style='width:9.52%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>(e) |
middle style='width:2.6%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:8.66%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>(f) |
middle style='width:13.84%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>(g) |
middle style='width:2.6%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:13.84%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>(i) |
middle style='width:2.6%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:8.64%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>(j) |
|
middle style='background-color:#CCEEFF;width:15.2%;border-top:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>Werner Funk |
middle style='background-color:#CCEEFF;width:9.5%;border-top:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>2023 |
middle style='background-color:#CCEEFF;width:2.6%;border-top:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>$ |
middle style='background-color:#CCEEFF;width:10.38%;border-top:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>150,000 |
middle style='background-color:#CCEEFF;width:9.52%;border-top:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>- |
middle style='background-color:#CCEEFF;width:2.6%;border-top:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>$ |
middle style='background-color:#CCEEFF;width:8.66%;border-top:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>1,795 |
middle style='background-color:#CCEEFF;width:13.84%;border-top:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>- |
middle style='background-color:#CCEEFF;width:2.6%;border-top:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>$ |
middle style='background-color:#CCEEFF;width:13.84%;border-top:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>- |
middle style='background-color:#CCEEFF;width:2.6%;border-top:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'>$ |
middle style='background-color:#CCEEFF;width:8.64%;border-top:1pt solid #000000'>
right style='font:10pt Times New Roman;margin:0;color:#000000'>151,795 |
|
middle style=width:15.2%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>CEO, President, and Secretary |
middle style=width:9.5%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>2022 |
middle style=width:2.6%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>$ |
middle style=width:10.38%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>135,577 (1) |
middle style=width:9.52%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>- |
middle style=width:2.6%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>$ |
middle style=width:8.66%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>2,650 |
middle style=width:13.84%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>- |
middle style=width:2.6%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>$ |
middle style=width:13.84%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>- |
middle style=width:2.6%>
center style='font:10pt Times New Roman;margin:0;color:#000000'>$ |
middle style=width:8.64%>
right style='font:10pt Times New Roman;margin:0;color:#000000'>138,227 |
|
middle style='width:15.2%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:9.5%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:2.6%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:10.38%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:9.52%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:2.6%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:8.66%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:13.84%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:2.6%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:13.84%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:2.6%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
middle style='width:8.64%;border-bottom:1pt solid #000000'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> |
justify style='font:10pt Times New Roman;margin:0;color:#000000'>
justify style='font:10pt Times New Roman;margin:0'>(1) In 2023, Mr. Funk’s base salary according to his employment agreement with the Company was $150,000. Mr. Funk deferred $0 of his 2023 salary. In 2022, Mr. Funk’s base salary according to his employment agreement with the Company was $150,000. Mr. Funk deferred $14,423 of his 2022 salary.
justify style='font:10pt Times New Roman;margin:0;margin-left:36pt'>
justify style='font:10pt Times New Roman;margin:0;color:#000000'> Narrative Disclosure to Summary Compensation Table
justify style='font:10pt Times New Roman;margin:0;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>On May 3, 2024, the Company renewed and entered into an Employment Agreement with Werner Funk, the President and CEO of the Company. The term of the Employment Agreement shall be for a period of three (3) years, with a Base Salary of $150,000 per year with such salary reviewed on an annual basis by the Board of Directors.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'> background-color:#FFFFFF>On May 3, 2024, in conjunction with and pursuant to the Mr. Funk’s Employment, the Company granted to Werner Funk, the President and Chief Executive Officer, a background-color:#FFFFFF> stock option to purchase 300,000 shares of common stock, at an exercise price of $0.1155 representing 110% of background-color:#FFFFFF>the closing price of the Company’s common stock as of March 10, 2021. Such Options shall be exercisable for a period of seven years. The Option shall vest and be exercisable at the rate of 1/36 per month.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>There are no agreements or understandings for any executive officer to resign at the request of another person. None of our executive officers act, or will act, on behalf of, or at the direction of, any other person.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0;color:#000000'> Compensation of Directors
justify style='font:10pt Times New Roman;margin:0;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>There was no compensation paid to any director who was not a Named Executive Officer during the year ended December 31, 2023, other than that provided for attendance at meetings.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>There are no employment contracts, compensatory plans or arrangements, including payments to be received from Omnitek with respect to any Director that would result in payments to such person because of his or her resignation with Omnitek, or its subsidiaries, any change in control of Omnitek. There are no agreements or understandings for any Director to resign at the request of another person. None of our Directors or executive officers acts or will act on behalf of or at the direction of any other person.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>On April 18, 2023, in consideration for his services as a director, the Company granted to Mr. Funk a Non-Qualified Stock Option pursuant to the 2017 Long-Term Incentive Plan to purchase 50,000 shares of common stock, at an exercise price of $0.0397, representing 110% of the closing price of the common stock of the Corporation as of such date. Said Options shall vest and be exercisable immediately and shall be exercisable for a period of seven years from the date of grant.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>On April 18, 2023, in consideration for their services as independent directors, the Company granted to each of Messrs. Gary S. Maier and John M. Palumbo a Non-Qualified Stock Option pursuant to the 2017 Long-Term Incentive Plan to purchase 50,000 shares of common stock, at an exercise price of $0.0361, representing 100% of the closing price of the common stock of the Corporation as of such date. Said Options shall vest and be exercisable immediately and shall be exercisable for a period of seven years from the date of grant.
center style='font:10pt Times New Roman;margin:0'>Page 8 of 12
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justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>On April 25, 2024, in consideration for their services as independent directors, the Company granted to each of Messrs. Gary S. Maier and John M. Palumbo, a Non-Qualified Stock Option pursuant to the 2017 Long-Term Incentive Plan to purchase 50,000 shares of common stock at an exercise price of $0.0160, representing 100% of the closing price of the common stock of the Corporation as of April 24, 2024. Said Options shall vest and be exercisable immediately and shall be exercisable for a period of seven years from the date of grant.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Also on April 25, 2024, the Company granted to Werner Funk, as a Director, a Non-qualified Stock Option pursuant to the 2017 Long-Term Incentive Plan, to purchase 50,000 shares of common stock at any exercise price of $0.0176, representing 110% of the closing price of the common stock of the Corporation as of April 24, 2024. Said Options shall vest and be exercisable immediately and shall be exercisable for a period of seven years from the date of grant.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0;color:#000000'> OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>The following table provides information for the named executive officers on stock option holdings as of December 31, 2023.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>
|
bottom style=width:17.88%>
center style='font:8pt Times New Roman;margin:0'> Name |
bottom style=width:13.44%>
center style='font:8pt Times New Roman;margin:0'> Grant Date |
bottom style=width:14.38%>
center style='font:8pt Times New Roman;margin:0'> Number of Shares of Stock Underlying Unexercised Vested Options (#) |
bottom style=width:13.32%>
center style='font:8pt Times New Roman;margin:0'> Number of Shares of Stock Underlying Options that center style='font:8pt Times New Roman;margin:0'> Have Not Vested (#) |
bottom style=width:13.76%>
center style='font:8pt Times New Roman;margin:0'> Equity Incentive plan awards: Number of securities underlying unexercised unearned options (#) |
2 valign=bottom style=width:13.32%>
center style='font:8pt Times New Roman;margin:0'> Option Exercise Price ($) |
bottom style=width:13.88%>
center style='font:8pt Times New Roman;margin:0'> Option Expiration Date |
|
|
bottom style=background-color:#CCEEFF;width:17.88%>
Werner Funk |
bottom style=background-color:#CCEEFF;width:13.44%>
right style='font:10pt Times New Roman;margin:0'>1/11/2018 |
bottom style=background-color:#CCEEFF;width:14.38%>
right style='font:10pt Times New Roman;margin:0'>50,000 |
bottom style=background-color:#CCEEFF;width:13.32%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=background-color:#CCEEFF;width:13.76%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=background-color:#CCEEFF;width:3.58%>
right style='font:10pt Times New Roman;margin:0'>$ |
bottom style=background-color:#CCEEFF;width:9.76%>
right style='font:10pt Times New Roman;margin:0'>0.077 |
bottom style=background-color:#CCEEFF;width:13.88%>
right style='font:10pt Times New Roman;margin:0'>1/10/2025 |
|
bottom style=width:17.88%>
President and CEO |
bottom style=width:13.44%>
right style='font:10pt Times New Roman;margin:0'>1/15/2028 |
bottom style=width:14.38%>
right style='font:10pt Times New Roman;margin:0'>300,000 |
bottom style=width:13.32%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=width:13.76%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=width:3.58%>
right style='font:10pt Times New Roman;margin:0'>$ |
bottom style=width:9.76%>
right style='font:10pt Times New Roman;margin:0'>0.077 |
bottom style=width:13.88%>
right style='font:10pt Times New Roman;margin:0'>1/14/2025 |
| bottom style=background-color:#CCEEFF;width:17.88%> |
bottom style=background-color:#CCEEFF;width:13.44%>
right style='font:10pt Times New Roman;margin:0'>1/16/2019 |
bottom style=background-color:#CCEEFF;width:14.38%>
right style='font:10pt Times New Roman;margin:0'>50,000 |
bottom style=background-color:#CCEEFF;width:13.32%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=background-color:#CCEEFF;width:13.76%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=background-color:#CCEEFF;width:3.58%>
right style='font:10pt Times New Roman;margin:0'>$ |
bottom style=background-color:#CCEEFF;width:9.76%>
right style='font:10pt Times New Roman;margin:0'>0.099 |
bottom style=background-color:#CCEEFF;width:13.88%>
right style='font:10pt Times New Roman;margin:0'>1/15/2026 |
| bottom style=width:17.88%> |
bottom style=width:13.44%>
right style='font:10pt Times New Roman;margin:0'>3/27/2020 |
bottom style=width:14.38%>
right style='font:10pt Times New Roman;margin:0'>50,000 |
bottom style=width:13.32%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=width:13.76%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=width:3.58%>
right style='font:10pt Times New Roman;margin:0'>$ |
bottom style=width:9.76%>
right style='font:10pt Times New Roman;margin:0'>0.066 |
bottom style=width:13.88%>
right style='font:10pt Times New Roman;margin:0'>3/26/2027 |
| bottom style=background-color:#CCEEFF;width:17.88%> |
bottom style=background-color:#CCEEFF;width:13.44%>
right style='font:10pt Times New Roman;margin:0'>3/10/2021 |
bottom style=background-color:#CCEEFF;width:14.38%>
right style='font:10pt Times New Roman;margin:0'>300,000 |
bottom style=background-color:#CCEEFF;width:13.32%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=background-color:#CCEEFF;width:13.76%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=background-color:#CCEEFF;width:3.58%>
right style='font:10pt Times New Roman;margin:0'>$ |
bottom style=background-color:#CCEEFF;width:9.76%>
right style='font:10pt Times New Roman;margin:0'>0.116 |
bottom style=background-color:#CCEEFF;width:13.88%>
right style='font:10pt Times New Roman;margin:0'>3/9/2028 |
| bottom style=width:17.88%> |
bottom style=width:13.44%>
right style='font:10pt Times New Roman;margin:0'>4/18/2022 |
bottom style=width:14.38%>
right style='font:10pt Times New Roman;margin:0'>50,000 |
bottom style=width:13.32%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=width:13.76%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=width:3.58%>
right style='font:10pt Times New Roman;margin:0'>$ |
bottom style=width:9.76%>
right style='font:10pt Times New Roman;margin:0'>0.0584 |
bottom style=width:13.88%>
right style='font:10pt Times New Roman;margin:0'>4/17/2029 |
| bottom style=background-color:#CCEEFF;width:17.88%> |
bottom style=background-color:#CCEEFF;width:13.44%>
right style='font:10pt Times New Roman;margin:0'>4/18/2023 |
bottom style=background-color:#CCEEFF;width:14.38%>
right style='font:10pt Times New Roman;margin:0'>50,000 |
bottom style=background-color:#CCEEFF;width:13.32%>
right style='font:10pt Times New Roman;margin:0'> |
bottom style=background-color:#CCEEFF;width:13.76%>
right style='font:10pt Times New Roman;margin:0'>- |
bottom style=background-color:#CCEEFF;width:3.58%>
right style='font:10pt Times New Roman;margin:0'>$ |
bottom style=background-color:#CCEEFF;width:9.76%>
right style='font:10pt Times New Roman;margin:0'>0.0397 |
bottom style=background-color:#CCEEFF;width:13.88%>
right style='font:10pt Times New Roman;margin:0'>4/18/2030 |
| bottom style=width:17.88%> |
bottom style=width:13.44%>
right style='font:10pt Times New Roman;margin:0'> |
bottom style=width:14.38%>
right style='font:10pt Times New Roman;margin:0'> |
bottom style=width:13.32%>
right style='font:10pt Times New Roman;margin:0'> |
bottom style=width:13.76%>
right style='font:10pt Times New Roman;margin:0'> |
bottom style=width:3.58%>
right style='font:10pt Times New Roman;margin:0'> |
bottom style=width:9.76%>
right style='font:10pt Times New Roman;margin:0'> |
bottom style=width:13.88%>
right style='font:10pt Times New Roman;margin:0'> |
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> Independent Public Accountants
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>The Company’s independent accountants for the fiscal year ended December 31, 2023 was Mercurius Associates LLP, of Oakland, Maryland, who was appointed as the Company's independent accountants since June 2023.
justify style='font:10pt Times New Roman;margin:0;text-indent:-36pt;margin-left:72pt'>
justify style='font:10pt Times New Roman;margin:0;color:#000000'> Audit Fees
justify style='font:10pt Times New Roman;margin:0;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>During the fiscal year ended December 31, 2023, we incurred $54,643 in fees to our principal independent accountants for professional services rendered in connection with the audit and reviews of our financial statements for fiscal year ended December 31, 2023.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>During the fiscal year ended December 31, 2022, we incurred $44,077 in fees to our principal independent accountants for professional services rendered in connection with the audit and reviews of our financial statements for fiscal year ended December 31, 2022.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;color:#000000'> Audit-Related Fees
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>The aggregate fees billed during the fiscal years ended December 31, 2023, and 2022, for assurance and related services by our principal independent accountants that are reasonably related to the performance of the audit or review of our financial statements (and are not reported under Item 9(e)(1) of Schedule 14A was $0 and $0, respectively.
justify style='font:10pt Times New Roman;margin:0;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;color:#000000'> Tax Fees
justify style='font:10pt Times New Roman;margin:0;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>The aggregate fees billed during the fiscal years ended December 31, 2023, and 2022, for professional services rendered by our principal accountant for tax compliance, tax advice and tax planning was $3,250 and $3,250, respectively.
center style='font:10pt Times New Roman;margin:0'>Page 9 of 12
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justify style='font:10pt Times New Roman;margin:0;color:#000000'> All Other Fees
justify style='font:10pt Times New Roman;margin:0;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>The aggregate fees billed during the fiscal years ended December 31, 2023, and 2022, for products and services provided by our principal independent accountants (other than the services reported in Items 9(e)(1) through 9(e)(3) of Schedule 14A was $0 and $0, respectively.
center style='font:8pt Times New Roman;margin:0;color:#000000'>
justify style='font:10pt Times New Roman;margin:0'> Deadline for Receipt of Shareholder Proposals for the Next Annual Meeting
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Proposals of shareholders of the Company, which are intended to be presented at the Company’s next annual meeting of shareholders, must be received by the Company no later than January 31, 2025, and otherwise be in compliance with the Company’s Articles of Incorporation and Bylaws, as amended, and with applicable laws and regulations in order to be included in the Proxy Statement and form of Proxy relating to that meeting.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>
justify style='font:10pt Times New Roman;margin:0'> margin-left:36pt> Any Shareholder proposals received after this deadline may still be able to be included as a proposal, however, they must be received by a reasonable time before the Company begins to print and mail its proxy solicitation material for such annual meeting. Any shareholder proposals will be subject to the requirements of the proxy rules adopted by the Securities and Exchange Commission.
justify style='font:10pt Times New Roman;margin:0'> dc1096_section_16(a)_beneficia_dc102039 /> toc_dc1096_3 />
justify style='font:10pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0;color:#000000'> BUSINESS TO BE TRANSACTED
justify style='font:10pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0'> PROPOSAL 1.
center style='font:10pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0'> ELECTION OF DIRECTORS
justify style='font:10pt Times New Roman;margin:0'> Nominees
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Three directors are to be elected at the annual meeting, to hold office for a term of one (1) year. It is intended that the accompanying Proxy will be voted in favor of the nominees to serve as directors unless the shareholder indicates to the contrary on the Proxy. Management expects that the nominees will be available for election, but if any such nominee is not a candidate at the time the election occurs, it is intended that such Proxy will be voted for the election of another nominee to be designated by the Board of Directors to fill any such vacancy. Votes withheld will be counted for the purpose of determining the presence or absence of a quorum for the transaction of business at the meeting but have no other legal effect upon the election of directors under California law.
justify style='font:10pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0'> PRESENT DIRECTORS WHO ARE NOMINEES FOR RE-ELECTION
center style='font:10pt Times New Roman;margin:0'>
|
top style='width:28.92%;border-bottom:0.5pt solid #000000'>
Name of Nominee |
top style=width:1.9%> |
top style='width:6.36%;border-bottom:0.5pt solid #000000'>
center style='font:10pt Times New Roman;margin:0'> Age |
top style=width:1.9%> |
top style='width:60.9%;border-bottom:0.5pt solid #000000'>
Position (Proposed Term as Director) |
|
top style='background-color:#CCEEFF;width:28.92%;border-top:0.5pt solid #000000'>
Werner Funk |
top style=background-color:#CCEEFF;width:1.9%> |
top style='background-color:#CCEEFF;width:6.36%;border-top:0.5pt solid #000000'>
center style='font:10pt Times New Roman;margin:0'>65 |
top style=background-color:#CCEEFF;width:1.9%> |
top style='background-color:#CCEEFF;width:60.9%;border-top:0.5pt solid #000000'>
Director –1 Year |
| top style=width:28.92%> | top style=width:1.9%> |
top style=width:6.36%>
center style='font:10pt Times New Roman;margin:0'> |
top style=width:1.9%> | top style=width:60.9%> |
|
top style=background-color:#CCEEFF;width:28.92%>
Gary S. Maier |
top style=background-color:#CCEEFF;width:1.9%> |
top style=background-color:#CCEEFF;width:6.36%>
center style='font:10pt Times New Roman;margin:0'>70 |
top style=background-color:#CCEEFF;width:1.9%> |
top style=background-color:#CCEEFF;width:60.9%>
Director –1 Year |
| top style=width:28.92%> | top style=width:1.9%> |
top style=width:6.36%>
center style='font:10pt Times New Roman;margin:0'> |
top style=width:1.9%> | top style=width:60.9%> |
|
top style=background-color:#CCEEFF;width:28.92%>
John M. Palumbo |
top style=background-color:#CCEEFF;width:1.9%>
|
top style=background-color:#CCEEFF;width:6.36%>
center style='font:10pt Times New Roman;margin:0'>68 |
top style=background-color:#CCEEFF;width:1.9%>
|
top style=background-color:#CCEEFF;width:60.9%>
Director –1 Year |
justify style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'> Werner Funk –Mr. Funk was born in Germany. He has been a Director and the CEO of Omnitek since its formation in May of 2001. Mr. Funk has over 30 years of experience in international business, manufacturing, engineering, marketing and Internet commerce. He is responsible for management, marketing and new product design. Mr. Funk was educated in Germany where he attended high school and vocational college for automotive technology and graduated with honors receiving a bachelor degree in automotive technology. While living in Germany, he worked for Mercedes-Benz and was the assistant crew chief of a Porsche factory sponsored racing team. Mr. Funk moved to the United States in 1978, where upon he started Nology Engineering Inc., a California Corporation, which designs, manufactures and markets automotive products for the performance aftermarket. Mr. Funk is listed as the inventor/co-inventor on several patents and patent applications.
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'> background-color:#FFFFFF> Gary S. Maier – Mr. Maier was appointed as a Director of the Company on August 3, 2012 and background-color:#FFFFFF> is an investor relations veteran with more than 30 years of industry experience. He is currently vice president of corporate communications and investor relations for Motorcar Parts of America, Inc. (Nasdaq: MPAA). He established Maier Company, Inc. in 2003, and previously was a principal of another Los Angeles-based investor relations firm. His experience includes counseling diverse clients ranging in size from multi-billion-dollar organizations to emerging growth public and private companies across the country. His career also includes positions with an international public relations firm and a proxy solicitation firm
center style='font:10pt Times New Roman;margin:0'>Page 10 of 12
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justify style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'> background-color:#FFFFFF>offering investor relations services, both based in New York, as well as a Chicago-based agency. He is a long-time member of the National Investor Relations Institute. His experience also includes local and national political campaigns –including serving as the Illinois deputy press secretary for Walter Mondale’s 1984 presidential campaign. Maier served as a board member for 18 years, including a term as president, of Veterans Park Conservancy, a non-profit community public/private partnership dedicated to the enhancement and preservation of four hundred acres of federal land to honor our nation’s veterans. He served for several years on the board of Southern California’s Colony Theater Company. Maier holds bachelor and Master of Philosophy degrees from Ohio University and completed course work toward a Ph.D. in philosophy at DePaul University. He served on the adjunct faculties of DePaul and Loyola University in Chicago and is a graduate of New York University’s Graduate School of Business Administration’s Careers in Business program.
justify style='font:10pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000;background-color:#FFFFFF'> John M. Palumbo – Mr. Palumbo was appointed as a Director of the Company on October 23, 2013. Mr. Palumbo is currently the CEO of Larsen Supply Company. Previously Mr. Palumbo was the CEO of Partschannel, Inc., a distributor of aftermarket collision replacement parts. Prior to this Mr. Palumbo was the CFO at Solar Integrated Technologies, Inc., and before that the CFO for Keystone Automotive Industries, Inc. (NASDAQ:KEYS). Mr. Palumbo holds a Bachelor of Science degree in finance from Canisius College in Buffalo, New York and obtained his EMBA from Peter F. Drucker Claremont Graduate University in Claremont California. Mr. Palumbo is a Certified Public Accountant in the state of California. Additionally, Mr. Palumbo served on the board of the KSI Auto Parts Inc., a distributor of collision replacement parts.
justify style='font:10pt Times New Roman;margin:0;background-color:#FFFFFF'>
justify style='font:10pt Times New Roman;margin:0'> VOTE REQUIRED. Directors are elected by a plurality of the votes cast by the shares of common stock represented at the meeting. (i.e. the persons who receive the greatest number of votes casts will be elected).
justify style='font:10pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0'> THE BOARD OF DIRECTORS RECOMMENDS THAT SHAREHOLDERS VOTE “ FOR ”
center style='font:10pt Times New Roman;margin:0'> THE NOMINEES AS SET FORTH ABOVE.
center style='font:10pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0'> PROPOSAL 2.
center style='font:10pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0'> RATIFICATION OF APPOINTMENT OF INDEPENDENT ACCOUNTANTS
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>The Company has appointed OLE_LINK3 />Mercurius Associates LLP, of Oakland, Maryland, as the Company's independent accountants for the fiscal year ending December 31, 2023. Mercurius Associates LLP, has served as the Company's independent accountants since June 2023. Services provided to the Company in fiscal 2023 included examination of the Company’s financial annual statements.
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> VOTE REQUIRED. The affirmative vote of holders of a majority of the shares of common stock represented at the meeting is required to ratify the appointment of independent accountants.
justify style='font:10pt Times New Roman;margin:0'>
center style='font:10pt Times New Roman;margin:0'> THE BOARD OF DIRECTORS RECOMMENDS VOTING “ FOR ” SUCH RATIFICATION
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justify style='font:10pt Times New Roman;margin:0'>Other Matters
justify style='font:10pt Times New Roman;margin:0'>
justify style='font:10pt Times New Roman;margin:0'> margin-left:45.8pt> If any matters not described in this proxy statement are properly presented at the annual meeting, the persons named in the proxy card will use their own best judgment to determine how to vote your shares. This includes a motion to adjourn or postpone the annual meeting in order to solicit additional proxies. If the annual meeting is postponed or adjourned, your proxies may be voted by the persons named in the proxy card on the new annual meeting date as well, unless you have revoked your proxy. The Company does not know of any other matters to be presented at the annual meeting.
justify style='font:10pt Times New Roman;margin:0'>
| top style=width:44.62%> |
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By order of the Board of Directors, |
| top style=width:44.62%> |
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|
|
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Date: July 19, 2024 |
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| top style=width:44.62%> |
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Werner Funk, |
| top style=width:44.62%> |
top style=width:55.38%>
President and Chief Executive Officer |
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
| FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
|---|
| DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
|---|
No information found
No Customers Found
No Suppliers Found
Price
Yield
| Owner | Position | Direct Shares | Indirect Shares |
|---|