Item 5. Other Information.
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Item 5. Other Information.
Securities Trading Plans of Executive Officers and Directors
During the period from July 1, 2023, to September 30, 2023, our executive officers and directors adopted or terminated contracts, instructions or written plans for the purchase or sale of our securities as noted below.
On September 6, 2023, Edward T. Tilly, our former Chief Executive Officer, terminated a trading arrangement he had previously adopted with respect to the sale of shares of the Company’s common stock (the “Trading Plan”) in connection with an investigation led by the Company’s Board of Directors and outside independent counsel that was launched in late August 2023. Mr. Tilly’s Trading Plan was adopted on March 13, 2023, had a term of one year and provided for the sale of up to 32,000 shares of common stock pursuant to the terms of the plan. As of the date of termination of the Trading Plan, Mr. Tilly had sold 16,000 of common stock under the terms of the Trading Plan.
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