Company: APT
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001437749-25-013635
Chunk: 26

Company: ALPHA PRO TECH LTD
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 26
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, effective August 31, 2016, which was amended on October 24, 2017. Among other things, this agreement sets forth his compensation terms, his rights upon a termination of employment and restrictive covenants regarding non-competition and non-solicitation. See “Hoffman Employment Agreement” under the 2024 Summary Compensation Table below for additional details about the employment agreement with Mr. Hoffman.

Insider Trading Policy and Prohibition on Pledging and Hedging of Company Stock

The Company has a Policy on Insider Trading (the “Policy”) governing the purchase, sale and other dispositions of the Company’s securities that applies to all Company personnel, including directors, officers, employees and other covered persons. The Company believes that this Policy is reasonably designed to promote compliance with insider trading laws, rules and regulations, and listing standards applicable to the Company. A copy of the Policy was filed as Exhibit 19 to our Annual Report on Form 10-K for the year ended December 31, 2024.

The Policy prohibits the directors and officers of the Company and any of its subsidiaries from entering into hedging, monetization transactions or similar arrangements with respect to Company securities. These restrictions ensure that the Named Executive Officers, as well as other Company personnel, as applicable, cannot offset or hedge against declines in the price of the Company’s common stock they own or have a personal interest in the price of their shares that may be different from the interests of other stockholders generally.

Equity Grant Practices

As discussed above, the Compensation Committee intends to continue to make regular grants of equity that incentivize performance and have retentive effect. All such equity awards will be made under the 2020 Incentive Plan. Our practice in granting equity is to determine the total number of shares to be granted under the 2020 Incentive Plan in a certain year based on the estimated expense to the Company of the awards and the earnings per share impact of that expense, as well as the total number of shares available for grant under the 2020 Incentive Plan. The Compensation Committee then allocates this pool of shares among the participants based on level and performance and considerations such as retention and competitive compensation levels. We do not select grant dates based upon the public release of material nonpublic information about the Company, and the proximity of the grant date of any award to the date on which we announce such information is coincidental.

Benefit Plans

Retirement Savings Plan

The Company has a Retirement Savings Plan (the “