Company: AWX
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0001437749-25-008670
Chunk: 14

Company: AVALON HOLDINGS CORP
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 14
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 Michael J. Havalo, Chief Financial Officer, Treasurer and Secretary, Kenneth J. McMahon, Chief Executive Officer of American Waste Management Services, Inc., Christine M. Bell, President of Avalon Golf and Country Club, Frances R. Klingle, Chief Administrative Officer and Marjorie J. Patterson, Corporate Controller.

The Compensation Committee believes that the PEO’s base salary reflects the value of the executive position and attributes the PEO brings to the Company, including tenure, experience, skill level, and performance. No specific weights have been assigned to those factors. The Compensation Committee periodically reviews salaries of the Executive Leadership Team, including all NEOs, and adjusts them as needed to maintain market positioning and consistency with other similarly-situated executive officers and their positions evolving responsibilities.

With the exception of Mr. Kenneth McMahon’s discretionary bonus, which is based upon eight percent of the income before taxes of the waste management and brokerage company, bonuses payments are not tied to any financial performance measure and are discretionary based on the evaluation of each individual’s performance, change in responsibilities and their potential to contribute to the success of the Company.

During 2024 and 2023, the PEO was not awarded any equity awards. Additionally, the PEO did not have any outstanding equity awards. The Summary Compensation for the PEO represents the Compensation actually paid to the PEO. In addition, during 2024 and 2023, the Non-PEO NEO’s were not awarded, nor did they exercise, any equity awards.

<div align='center'>OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END</div>

All options previously granted under the Long-term incentive plan expired. As a result, there were no outstanding options at December 31, 2024. See Note 12 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC for information regarding the stock options granted under the Long-Term Incentive Plan.

<div align='center'>OPTION EXERCISES AND STOCK VESTED IN FISCAL 2024</div>

All options previously granted under the Long-term Incentive Plan expired.

PROPOSAL #2

ADVISORY VOTE ON EXECUTIVE COMPENSATION

The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted in July 2010, requires that we provide our shareholders with the opportunity to vote to approve the compensation of our named executive officers as disclosed in this proxy statement in