Company: APT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007218
Chunk: 41

Company: ALPHA PRO TECH LTD
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7A
Chunk 41
---
 its current President and Chief Executive Officer, which has a term of approximately fiveyears, and which renews in accordance with its terms. The agreement provides that, if the officer’s employment is terminated without cause, as defined in the agreements, the officer is entitled to receive certain severance payments. If termination occurs due to retirement, the officer will enter into a four-year consulting arrangement with the Company at a specified percentage of the officer’s then current salary. Upon death or disability, the Company will also make certain payments to the officer or the officer’s estate or beneficiary, as applicable.

  17.      Related Party Transactions  
 ───────────────────────────────────────

During 2024, the Company’s only material related party transactions were the Company’s transactions with its non-consolidated affiliate, Harmony. ( see Note 6.)

  18.      Subsequent Events  
 ──────────────────────────────

The Company has reviewed and evaluated whether any additional material subsequent events have occurred from December 31, 2024 through the filing date of the Company’s Annual Report on Form 10-K. All appropriate subsequent event disclosures have been made in the consolidated financial statements.

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

None.

Item 9A. Controls and Procedures.