Item 9A. Controls and Procedures
ITEM 9A. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
We maintain disclosure controls and procedures (as such term is defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act, that are designed to ensure that information required to be disclosed in our reports under the Exchange Act is processed, recorded, summarized and reported within the time periods specified in the rules and regulations of the SEC and that such information is accumulated and communicated to management, including our Chief Executive Officer (Principal Executive Officer) and Chief Financial Officer (Principal Financial Officer), as appropriate, to allow for timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management is required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.
We have carried out an evaluation, under the supervision and with the participation of management, including our Principal Executive Officer and Principal Financial Officer, regarding the effectiveness of our disclosure controls and procedures as of December 31, 2024, the end of the period covered by this Annual Report on Form 10-K. Based on the foregoing, our Principal Executive Officer and Principal Financial Officer have concluded, as of December 31, 2024, that our disclosure controls and procedures were effective in ensuring that information required to be disclosed by us in reports filed or submitted under the Exchange Act (i) is processed, recorded, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) is accumulated and communicated to our management, including our Principal Executive Officer and Principal Financial Officer, as appropriate to allow for timely decisions regarding required disclosure.
Management’s Report on Internal Control Over Financial Reporting
Our management, including our Principal Executive Officer and Principal Financial Officer, is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Under the supervision and with the participation of our management, including our Principal Executive Officer and Principal Financial Officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting based on the original framework in Internal Control - Integrated Framework issued in 2013 by the Committee of Sponsoring Organizations of the Treadway Commission. Based on our evaluation under the framework in Internal Control - Integrated Framework, our management concluded that our internal control over financial reporting was effective as of December 31, 2024.
Changes in Internal Control over Financial Reporting
There was no change in our internal control over financial reporting that occurred during our most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
ITEM 9B. OTHER INFORMATION
ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
Not applicable.
50
Table of Contents
PART III
ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
The information required by Item 10 is incorporated by reference to our definitive Proxy Statement for our 2025 annual stockholders’ meeting.
ITEM 11. EXECUTIVE COMPENSATION
The information required by Item 11 is incorporated by reference to our definitive Proxy Statement for our 2025 annual stockholders’ meeting.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
The information required by Item 12 is incorporated by reference to our definitive Proxy Statement for our 2025 annual stockholders’ meeting.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
The information required by Item 13 is incorporated by reference to our definitive Proxy Statement for our 2025 annual stockholders’ meeting.
ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES
The information required by Item 14 is incorporated by reference to our definitive Proxy Statement for our 2025 annual stockholders’ meeting.
51
Table of Contents
PART IV
EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
(1) Financial Statements
Our consolidated financial statements and notes thereto, together with the Reports of Independent Registered Public Accounting Firm are included in Item 8 of this Annual Report on Form 10-K commencing on page F-1.
(2) Financial Statement Schedules
Our financial statement schedule is included in Part IV of this Annual Report on Form 10-K.
(3) Exhibits
A list of exhibits to this Annual Report on Form 10-K is set forth on the Index to Exhibits commencing on page 55 and is incorporated herein by reference.
52
Table of Contents
Postal Realty Trust, Inc.
Schedule III - Real Estate and Accumulated Depreciation
As of December 31, 2024
Number of Properties (1) Encumbrances Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount Carried at Close of Period (2) Accumulated Depreciation Date Acquired Depreciable Life
(Yrs) (3)
State/Territory Land Buildings & Improvements Land Buildings & Improvements Total
Alabama 32 — 3,807 20,656 235 3,807 20,891 24,698 ( 1,948 ) 2013-2024
40
Alaska 2 — 302 732 — 302 732 1,034 ( 14 ) 2018-2024
40
Arizona 14 — 1,867 8,317 8 1,867 8,325 10,192 ( 441 ) 2021-2024
40
Arkansas 35 — 1,669 6,295 47 1,669 6,342 8,011 ( 1,165 ) 2013-2024
40
California 36 — 14,431 23,393 375 14,431 23,768 38,199 ( 1,957 ) 2019-2024
40
Colorado 30 — 3,281 14,643 115 3,281 14,758 18,039 ( 1,606 ) 2019-2024
40
Connecticut 12 — 2,438 7,061 163 2,438 7,223 9,661 ( 682 ) 2013-2024
40
Delaware 3 — 361 799 — 361 799 1,160 ( 78 ) 2020-2023
40
Florida 37 — 9,968 21,522 430 9,968 21,952 31,920 ( 1,512 ) 2013-2024
40
Georgia 34 — 2,031 8,757 222 2,031 8,979 11,010 ( 943 ) 2013-2024
40
Hawaii 1 — 1,810 1,447 168 1,810 1,614 3,424 ( 156 ) 2021 40
Idaho 12 — 99 1,346 — 99 1,346 1,445 ( 340 ) 2013-2023
40
Illinois 86 — 1,580 11,122 529 1,580 11,651 13,231 ( 1,183 ) 2013-2024
40
Indiana 34 — 1,690 9,017 191 1,690 9,208 10,898 ( 962 ) 2019-2024
40
Iowa 35 — 886 6,665 206 886 6,870 7,756 ( 840 ) 2013-2023
40
Kansas 35 — 1,178 10,662 645 1,178 11,307 12,485 ( 1,266 ) 2013-2024
40
Kentucky 27 — 1,167 4,385 48 1,167 4,433 5,600 ( 480 ) 2013-2023
40
Louisiana 39 — 2,767 9,967 214 2,767 10,181 12,948 ( 1,473 ) 2013-2024
40
Maine 44 — 1,570 4,673 411 1,570 5,084 6,654 ( 744 ) 2013-2023
40
Maryland 11 — 1,989 3,412 32 1,989 3,443 5,432 ( 277 ) 2013-2024
40
Massachusetts 21 — 3,587 10,653 84 3,587 10,737 14,324 ( 2,516 ) 2007-2024
40
Michigan 68 — 3,497 13,309 666 3,497 13,975 17,472 ( 1,810 ) 2011-2024
40
Minnesota 72 299 1,774 15,077 548 1,774 15,626 17,400 ( 1,332 ) 2013-2024
40
Mississippi 34 — 1,894 8,366 210 1,894 8,575 10,469 ( 914 ) 2013-2024
40
Missouri 45 — 1,390 7,702 230 1,390 7,931 9,321 ( 1,040 ) 2013-2024
40
Montana 16 1,400 739 5,221 109 739 5,330 6,069 ( 509 ) 2013-2024
40
Nebraska 39 — 464 4,799 117 464 4,915 5,379 ( 373 ) 2013-2024
40
Nevada 5 — 591 3,301 — 591 3,301 3,892 ( 293 ) 2013-2023
40
New Hampshire 8 — 519 1,231 18 519 1,249 1,768 ( 157 ) 2019-2022 40
New Jersey 11 — 1,242 4,585 23 1,242 4,608 5,850 ( 236 ) 2019-2024
40
New Mexico 10 — 1,047 2,885 — 1,047 2,885 3,932 ( 173 ) 2019-2024
40
New York 72 — 6,357 22,813 379 6,357 23,192 29,549 ( 1,808 ) 2019-2024
40
North Carolina 66 — 7,128 20,998 466 7,128 21,464 28,592 ( 2,606 ) 2013-2024
40
North Dakota 22 — 231 2,256 ( 24 ) 231 2,232 2,463 ( 339 ) 2013-2023
40
Ohio 52 844 4,022 17,750 381 4,022 18,147 22,169 ( 1,904 ) 2006-2024
40
Oklahoma 65 — 2,293 11,500 308 2,293 11,808 14,101 ( 1,822 ) 2013-2024
40
Oregon 11 — 3,085 6,555 27 3,085 6,582 9,667 ( 251 ) 2020-2024
40
Pennsylvania 104 31,634 9,457 66,956 766 9,457 67,722 77,179 ( 8,957 ) 2005-2024
40
Puerto Rico 1 — 99 349 — 99 349 448 ( 28 ) 2022 40
South Carolina 29 100 2,269 7,152 1,235 2,269 8,386 10,655 ( 770 ) 2019-2024
40
South Dakota 27 — 549 3,676 31 549 3,706 4,255 ( 383 ) 2013-2024
40
Tennessee 30 — 3,092 10,270 118 3,092 10,388 13,480 ( 1,347 ) 2013-2024
40
Texas 119 — 7,895 32,158 776 7,895 32,934 40,829 ( 4,230 ) 2005-2024
40
Utah 5 — 375 2,289 — 375 2,289 2,664 ( 164 ) 2020-2024
40
Vermont 21 — 1,395 4,512 145 1,395 4,657 6,052 ( 456 ) 2019-2023
40
Virginia 31 — 3,073 12,507 197 3,073 12,704 15,777 ( 1,167 ) 2019-2024
40
Washington 12 — 1,078 3,276 16 1,078 3,292 4,370 ( 256 ) 2013-2024
40
West Virginia 47 — 1,282 9,294 257 1,282 9,551 10,833 ( 773 ) 2019-2024
40
Wisconsin 90 — 2,882 18,492 797 2,882 19,289 22,171 ( 3,246 ) 2005-2024
40
Wyoming 9 — 260 3,019 — 260 3,019 3,279 ( 248 ) 2013-2023
40
1,701 $ 34,277 $ 128,457 $ 507,822 $ 11,919 $ 128,457 $ 519,749 $ 648,206 $ ( 58,175 )
Explanatory Notes :
(1) Excludes two properties accounted for as direct financing leases.
(2) The aggregate cost for Federal Income Tax purposes was approximately $ 660.7 million as of December 31, 2024.
(3) Estimated useful life for buildings.
53
Table of Contents
The following table reconciles real estate for the years ended December 31, 2024 and 2023:
For the Years Ended December 31,
2024 2023
Beginning Balance
$ 556,521 $ 474,991
Acquisitions
92,910 78,608
Capital improvements
2,755 3,068
Casualty and impairment losses
( 454 ) —
Cost of property sold
( 3,517 ) —
Write-offs
( 31 ) ( 145 )
Other
22 ( 1 )
Ending Balance
$ 648,206 $ 556,521
Explanatory Note:
(1) Other includes reclassification adjustments.
The following table reconciles accumulated depreciation for the years ended December 31, 2024 and 2023:
For the Years Ended December 31,
2024 2023
Beginning Balance
$ ( 43,791 ) $ ( 31,257 )
Depreciation expense
( 14,492 ) ( 12,503 )
Properties sold
40 —
Write-offs and other
68 ( 31 )
Ending Balance
$ ( 58,175 ) $ ( 43,791 )
54
Table of Contents
EXHIBIT INDEX
Exhibit Number Description
3.1 Articles of Amendment and Restatement of the Company, dated as of May 15, 2019 (incorporated by reference to Exhibit 3.1 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).
3.2 Amended and Restated Bylaws of the Company, effective as of August 4, 2023 (incorporated by reference to Exhibit 3.1 to the Company's Quarterly Report on Form 10-Q filed on August 8, 2023).
4.1 Form of Certificate of Class A Common Stock of the Company (incorporated by reference to Exhibit 4.1 to the Company’s Registration Statement on Form S-11/A filed on May 7, 2019).
4.2 Description of Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (incorporated by reference to Exhibit 4.2 to the Company’s Annual Report on Form 10-K filed with the Commission on March 27, 2020).
10.1 First Amended and Restated Agreement of Limited Partnership of the Postal Realty LP, dated May 16, 2019 (incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).
10.2 Postal Realty Trust, Inc. Amended and Restated Alignment of Interest Program (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on April 29, 2020).†
10.3 Representation, Warranty and Indemnity Agreement, dated as of May 14, 2019, by and among the Company, Postal Realty LP and Andrew Spodek (incorporated by reference to Exhibit 10.14 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).†
10.4 Tax Indemnification Agreement, dated as of May 14, 2019, by and among the Company, United Properties Holding, Inc., United Post Office Investments, Inc. and Andrew Spodek (incorporated by reference to Exhibit 10.15 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).†
10.5 Form of Right of First Offer Agreement (incorporated by reference to Exhibit 10.18 to the Company’s Registration Statement on Form S-11/A filed on May 7, 2019).†
10.6 Tax Protection Agreement, dated as of May 14, 2019, by and among the Company, Postal Realty LP, Andrew Spodek, Tayaka Holdings, LLC and IDJ Holdings, LLC (incorporated by reference to Exhibit 10.17 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).†
10.7 Tax Protection Agreement, dated as of May 14, 2019, by and among the Company, Postal Realty LP and Nationwide Postal Management Holdings, Inc. (incorporated by reference to Exhibit 10.18 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).†
10.8 Tax Protection Agreement, dated as of May 14, 2019, by and among the Company, Postal Realty LP and Unlimited Postal Holdings LP (incorporated by reference to Exhibit 10.19 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).†
10.9 Form of Third Party Management Agreement (incorporated by reference to Exhibit 10.11 of the Company’s Registration Statement on Form S-11/A filed on May 7, 2019).
10.10 Indemnification Agreement, dated as of May 17, 2019, by and between the Company and Patrick Donahue (incorporated by reference to Exhibit 10.21 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).†
10.11 Indemnification Agreement, dated as of May 17, 2019, by and between the Company and Anton Feingold (incorporated by reference to Exhibit 10.22 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).†
10.12 Indemnification Agreement, dated as of May 17, 2019, by and between the Company and Jeremy Garber (incorporated by reference to Exhibit 10.23 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).†
10.13 Indemnification Agreement, dated as of May 17, 2019, by and between the Company and Jane Gural-Senders (incorporated by reference to Exhibit 10.24 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).†
10.14 Indemnification Agreement, dated as of May 17, 2019, by and between the Company and Barry Lefkowitz (incorporated by reference to Exhibit 10.25 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).†
10.15 Indemnification Agreement, dated as of May 17, 2019, by and between the Company and Andrew Spodek (incorporated by reference to Exhibit 10.26 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).†
10.16 Indemnification Agreement, dated as of January 1, 2021, by and between the Company and Robert B. Klein (incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed on August 13, 2021) .†
10.17 Indemnification Agreement, dated as of May 17, 2019, by and between the Company and Matt Brandwein (incorporated by reference to Exhibit 10.27 to the Company’s Quarterly Report on Form 10-Q filed on June 27, 2019).†
10.18 Amended and Restated Employment Agreement, dated October 17, 2023, by and between the Company and Andrew Spodek (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on October 20, 2023).†*
10.19 Amended and Restated Employment Agreement, dated October 17, 2023, by and between the Company and Jeremy Garber (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on October 20, 2023).†*
10.20 Amended and Restated Employment Agreement, dated October 17, 2023, by and between the Company and Robert Klein (incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed on October 20, 2023).†*
10.21 2019 Equity Incentive Plan of the Company (incorporated by reference to Exhibit 10.2 to the Company’s Registration Statement on Form S-11/A filed on May 7, 2019).†
10.22 Amendment No. 1 to the Postal Realty Trust, Inc. 2019 Equity Incentive Plan, effective as of June 26, 2020 (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on July 1, 2020).†
10.23 Amendment No. 2 to the Postal Realty Trust, Inc. 2019 Equity Incentive Plan, effective as of June 18, 2021 (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on June 21, 2021) .†
10.24 Form of 2019 Equity Incentive Plan Stock Award Agreement and Notice (incorporated by reference to Exhibit 10.5 of the Company’s Registration Statement on Form S-11/A filed on May 7, 2019).†
55
Table of Contents
Exhibit Number Description
10.25 Form of 2019 Employee Stock Purchase Plan of the Company (incorporated by reference to Exhibit 10.4 to the Company’s Registration Statement on Form S-11/A filed on May 7, 2019). †
10.26 Form of LTIP Unit Vesting Agreement (incorporated by reference to Exhibit 10.6 of the Company’s Registration Statement on Form S-11/A filed on May 7, 2019).†
10.27 Credit Agreement, dated August 9, 2021, by and among Postal Realty LP, the Company, the certain subsidiaries from time to time party thereto as guarantors, and Bank of Montreal, as administrative agent, and the several banks and financial institutions party thereto as lenders (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on August 10, 2021) .
10.28 First Amendment to Credit Agreement, dated May 11, 2022, by and among Postal Realty LP, the Company, the certain subsidiaries from time to time party thereto as guarantors, and Bank of Montreal, as administrative agent, and the several banks and financial institutions party thereto as lenders (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on May 11, 2022).
10.29 Second Amendment to Credit Agreement, dated July 24, 2023, by and among Postal Realty LP, the Company, the certain subsidiaries from time to time party thereto as guarantors, and Bank of Montreal, as administrative agent, and the several banks and financial institutions party thereto as lenders (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on July 26, 2023).
10.30 Resignation and Appointment of Administrative Agent, L/C Issuer and Swingline Lender and Third Amendment to Credit Agreement, dated October 25, 2024, by and among Postal Realty LP, Postal Realty Trust, Inc., the certain subsidiaries from time to time party thereto as guarantors, and Truist Bank, as administrative agent, and the several banks and financial institutions party thereto as lenders (incor porated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on October 28, 2024).
10.31 Open-End Mortgage, Security Agreement, Fixture Filing, Financing Statement and Assignment of Leases and Rents, dated as of December 18, 2020, by and among Thorn Hill Postal Realty Holdings LLC, The United States Life Insurance Company in the City of New York and National Union Fire Insurance Company of Pittsburgh, PA (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on December 21, 2020).
10.32 Promissory Note (USLIC), dated December 18, 2020, made by Thorn Hill Postal Realty Holdings LLC to The United States Life Insurance Company in the City of New York (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on December 21, 2020).
10.33 Promissory Note (USLIC – Fortitude), dated December 18, 2020, made by Thorn Hill Postal Realty Holdings LLC to The United States Life Insurance Company in the City of New York (incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed on December 21, 2020).
10.34 Promissory Note (NUFIC), dated December 18, 2020, made by Thorn Hill Postal Realty Holdings LLC to National Union Fire Insurance Company of Pittsburgh, PA (incorporated by reference to Exhibit 10.4 to the Company’s Current Report on Form 8-K filed on December 21, 2020).
10.35 Suretyship Agreement, dated December 18, 2020, in favor of The United States Life Insurance Company in the City of New York and National Union Fire Insurance Company of Pittsburgh, PA (incorporated by reference to Exhibit 10.5 to the Company’s Current Report on Form 8-K filed on December 21, 2020).
19.1 I nsider Trading Po licy . *
21.1 Subsidiaries of the Company .*
23.1 Consent of Deloitte & Touche LLP.*
31.1 Certification of Annual Report by Chief Executive Officer under Section 302 of the Sarbanes-Oxley Act of 2002 .*
31.2 Certification of Annual Report by Chief Financial Officer under Section 302 of the Sarbanes-Oxley Act of 2002.*
32.1 Certification of Chief Executive Officer furnished pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
32.2 Certification of Chief Financial Officer furnished pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
97.1 Incentive Compensation Recoupment Policy. ( incorporated by reference to Exhibit 9 7.1 to the Comp any's Annual Report on Form 10-K filed on February 2 9 , 2024 ).
101.INS INSTANCE DOCUMENT**
101.SCH SCHEMA DOCUMENT**
101.CAL CALCULATION LINKBASE DOCUMENT**
101.LAB LABELS LINKBASE DOCUMENT**
101.PRE PRESENTATION LINKBASE DOCUMENT**
101.DEF DEFINITION LINKBASE DOCUMENT**
104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
_______________________
* Filed herewith
† Compensatory plan or arrangement
** Submitted electronically herewith. Attached as Exhibit 101 to this report are the following documents formatted in XBRL (eXtensible Business Reporting Language): (i) Consolidated Balance Sheets; (ii) Consolidated Statements of Operations
56
Table of Contents
and Comprehensive Income; (iii) Consolidated Statements of Changes in Equity; (iv) Consolidated Statements of Cash Flows; and (v) Notes to Consolidated Financial Statements.
ITEM 16. FORM 10-K SUMMARY
None.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
POSTAL REALTY TRUST, INC.
Date: February 26, 2025 By: /s/ Andrew Spodek
Andrew Spodek
Chief Executive Officer
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
Name Title Date
/s/ Andrew Spodek Chief Executive Officer and Director February 26, 2025
Andrew Spodek (Principal Executive Officer)
/s/ Robert B. Klein Chief Financial Officer February 26, 2025
Robert B. Klein (Principal Financial Officer)
/s/ Matt Brandwein Executive Vice President, Chief Accounting Officer February 26, 2025
Matt Brandwein (Principal Accounting Officer)
/s/ Patrick Donahoe Independent Director, Chair of February 26, 2025
Patrick Donahoe Board of Directors
/s/ Barry Lefkowitz Independent Director February 26, 2025
Barry Lefkowitz
/s/ Jane Gural-Senders Independent Director February 26, 2025
Jane Gural-Senders
/s/ Anton Feingold Independent Director February 26, 2025
Anton Feingold
57