Company: APT
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001437749-25-013635
Chunk: 18

Company: ALPHA PRO TECH LTD
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 18
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Proposal 1 – Election of Directors; Information About Director-Nominees” appearing earlier in this Proxy Statement.

The Audit Committee, currently consisting of Messrs. Benjamin A. Shaw (Chairman), David R. Garcia and John Ritota, met four (4) times in 2024. The report of the Audit Committee appears later in this Proxy Statement.

Compensation Committee

The functions of the Compensation Committee are to assist the Board in discharging its oversight responsibilities relating to, among other things, executive compensation, equity and incentive compensation plans, management succession planning and training of all management levels, as well as to produce the report of the Compensation Committee that is included in the Company’s proxy statement sent to shareholders for the annual meeting. The specific functions and responsibilities of the Compensation Committee are set forth in more detail in the committee’s charter.

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The charter of the Compensation Committee grants the committee the authority to hire outside experts in the field of executive compensation to assist the committee in fulfilling its responsibilities, but does not otherwise provide the Compensation Committee with the ability to delegate its responsibility for determining executive and director compensation. Currently, the committee does not use such a compensation consultant or similar expert; however, in the future, the committee may engage or seek the advice of a compensation consultant or similar expert.

The Board considered all of the factors specifically relevant to determining whether a member of the compensation committee has a relationship to the Company which is material to his ability to be independent from management in connection with the duties of a compensation committee member, including the source of compensation of the member and whether the member is affiliated with the Company. The Board determined that each of the members of the committee is independent within the meaning of the NYSE American listing standards. The Compensation Committee, currently consisting of Messrs. John Ritota (Chairman), James Buchan and David R. Garcia, met three (3) times in 2024. The report of the Compensation Committee appears later in this Proxy Statement.

The Compensation Committee has reviewed the Company’s compensation programs, plans and practices for all employees as they relate to risk management and risk-taking initiatives to ascertain if they serve to encourage or incent risks that are “reasonably likely to have a material adverse effect” on the Company. As a result of this process, the committee concluded and informed the Board that any risks arising from these programs, plans and practices are not reasonably likely to have a material adverse effect on the Company. The committee will continue to review on an annual basis the Company’s