12/19/2025 | Press release | Distributed by Public on 12/19/2025 15:05
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
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1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| RSUs(1) | $ 0 | 12/17/2025 | A | 50,000 | (2) | (5) | Common Stock | 50,000 | $ 0 | 50,000 | D | ||||
| RSUs(1) | $ 0 | 12/17/2025 | A | 50,000 | (3) | (5) | Common Stock | 50,000 | $ 0 | 100,000 | D | ||||
| RSUs(1) | $ 0 | 12/17/2025 | A | 50,000 | (4) | (5) | Common Stock | 50,000 | $ 0 | 150,000 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Corbin Chad Gregory 1701 JEL WADE DRIVE WILMINGTON, NC 28401 |
Chief Financial Officer | |||
| /s/ Chad Corbin | 12/19/2025 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Company's common stock upon vesting. |
| (2) | These RSUs vest over a two-year period subject to continued employment and the achievement of specified Company net income performance goals. The number reported reflects the maximum number of RSUs eligible to vest. If the Company achieves only the threshold net income target, 50% of the RSUs will vest, with additional vesting occurring on a pro-rata basis up to the target level. |
| (3) | These RSUs vest in equal installments over a two-year period on the anniversary of the grant, subject to the Reporting Person's continued employment with the Company. |
| (4) | These RSUs vest in full on the six-month anniversary of the grant, subject to the Reporting Person's continued employment with the Company. |
| (5) | Not applicable |