PETER V. ANANIA - Corporate Board Profile

PRECISION OPTICS CORPORATION, INC.

Filing Date	Source Excerpt
2022-02-24	On October 6, 2021, our Board appointed Mr. Peter V. Anania as a class II director for a three-year term or until his successor is duly elected or qualified. Peter V. Anania is President of Anania & Associates which he founded in 1987, and Anania & Associates Investment Company LLC, a private investment firm focused on privately held, Maine-based businesses which he founded in January 2008. Since November 2000, he serves as President and on the Board of Microwave Techniques LLC, Elmet Technologies, LLC and since December 2018 he serves on the board and audit committee of Alaris Holdings Ltd. He has served in operating and board positions of numerous private companies in which he has invested and performed management consulting services to non-portfolio companies. Mr. Anania served on the Windham Town Council from 2011 to 2014, board of the Windham Economic Development Corporation, Maine Heritage Policy Center (Chairman); is a current Corporator for Bangor Savings Bank; an Emeritus Board member of the Maine International Trade Center participating in trade missions to Korea, the United Kingdom, Brazil, Argentina, Taiwan, Singapore, Germany, the Netherlands and Mexico; and serves as a charter member of Maine's District Export Council helping small businesses expand their export sales. He previously served on the board of the USM Alumni Association, the Family Crisis Center, the United Way Allocation Committee and Raye’s Mustard Mill in Eastport. Mr. Anania has a B.A. from the University of Maine in marketing and management and an MBA from the University of Southern Maine.
2023-10-20	On October 6, 2021, our Board appointed Mr. Peter V. Anania as a class II director for a three-year term or until his successor is duly elected or qualified. Peter V. Anania is President of Anania & Associates which he founded in 1987, and Anania & Associates Investment Company LLC, a private investment firm focused on privately held, manufacturing businesses which he founded in January 2008. Since November 2000, he serves as President and on the Board of Microwave Techniques LLC, Elmet Technologies, LLC, Polymer Laboratories & Solutions LLC and mWave Industries LLC. He has served in operating and board positions of numerous private companies in which he has invested and performed management consulting services to non-portfolio companies. Mr. Anania served on the Windham Town Council from 2011 to 2014, board of the Windham Economic Development Corporation, Maine Heritage Policy Center (Chairman); is a current Corporator for Bangor Savings Bank; an Emeritus Board member of the Maine International Trade Center participating in trade missions to Korea, the United Kingdom, Brazil, Argentina, Taiwan, Singapore, Germany, the Netherlands and Mexico; and serves as a charter member of Maine's District Export Council helping small businesses expand their export sales. He previously served on the board of the USM Alumni Association, the Family Crisis Center, the United Way Allocation Committee and Raye’s Mustard Mill in Eastport. Mr. Anania has a B.A. from the University of Maine in marketing and management and an MBA from the University of Southern Maine. Under our director compensation plan, each non-management, non-Chairman board member received $1,250 for the first quarter of FY 2023. For the remainder of FY 2023, each non-Chairman board member received $2,500 quarterly and Mr. Miclot received an additional $2,500 quarterly as chair of the Compensation Committee. We also reimburse our directors for travel expenses. On November 16, 2022, options to purchase up to 6,666 shares of common stock were granted to Mr. Miclot, Dr. Miles, and Mr. Anania, and up to 10,000 shares to Mr. Woodward, at an exercise price of $6.26 per share. On January 16, 2023, options to purchase up to 13,334 shares of common stock were granted to Mr. Miclot, Dr. Miles, and Mr. Anania, and up to 20,000 shares to Mr. Woodward, at an exercise price of $6.26 per share. All such options were exercisable at the date of grant and by their terms will expire on the tenth anniversary of the grant date. As of October 10, 2023, the following outstanding stock options were held by each of our directors: Andrew J. Miclot – 59,998, Dr. Richard B. Miles – 60,998, Peter V. Anania – 26,666, Peter H. Woodward – 90,000. The following table sets forth cash amounts and the value of other compensation paid to our directors, but does not include the compensation of Dr. Joseph N. Forkey, our Chief Executive Officer, President, and Treasurer, as his compensation is reflected in the Summary Executive Compensation Table. During the fiscal year ended June 30, 2023, our Board of Directors determined that Dr. Joseph N. Forkey was our employee director and, therefore, would not earn any fees related to service on our Board. Under our director compensation plan, each non-management, non-Chairman board member received $1,250 for the first quarter of FY 2023. For the remainder of FY 2023, each non-Chairman board member received $2,500 quarterly and Mr. Miclot received an additional $2,500 quarterly as chair of the Compensation Committee. We also reimburse our directors for travel expenses. Mr. Woodward receives $10,000 per quarter for the performance of services as Chairman. Mr. Anania's total compensation was $110,301.

Filing Date

Source Excerpt

2022-02-24

2023-10-20

On October 6, 2021, our Board appointed Mr. Peter V. Anania as a class II director for a three-year term or until his successor is duly elected or qualified. Peter V. Anania is President of Anania & Associates which he founded in 1987, and Anania & Associates Investment Company LLC, a private investment firm focused on privately held, manufacturing businesses which he founded in January 2008. Since November 2000, he serves as President and on the Board of Microwave Techniques LLC, Elmet Technologies, LLC, Polymer Laboratories & Solutions LLC and mWave Industries LLC. He has served in operating and board positions of numerous private companies in which he has invested and performed management consulting services to non-portfolio companies. Mr. Anania served on the Windham Town Council from 2011 to 2014, board of the Windham Economic Development Corporation, Maine Heritage Policy Center (Chairman); is a current Corporator for Bangor Savings Bank; an Emeritus Board member of the Maine International Trade Center participating in trade missions to Korea, the United Kingdom, Brazil, Argentina, Taiwan, Singapore, Germany, the Netherlands and Mexico; and serves as a charter member of Maine's District Export Council helping small businesses expand their export sales. He previously served on the board of the USM Alumni Association, the Family Crisis Center, the United Way Allocation Committee and Raye’s Mustard Mill in Eastport. Mr. Anania has a B.A. from the University of Maine in marketing and management and an MBA from the University of Southern Maine. Under our director compensation plan, each non-management, non-Chairman board member received $1,250 for the first quarter of FY 2023. For the remainder of FY 2023, each non-Chairman board member received $2,500 quarterly and Mr. Miclot received an additional $2,500 quarterly as chair of the Compensation Committee. We also reimburse our directors for travel expenses. On November 16, 2022, options to purchase up to 6,666 shares of common stock were granted to Mr. Miclot, Dr. Miles, and Mr. Anania, and up to 10,000 shares to Mr. Woodward, at an exercise price of $6.26 per share. On January 16, 2023, options to purchase up to 13,334 shares of common stock were granted to Mr. Miclot, Dr. Miles, and Mr. Anania, and up to 20,000 shares to Mr. Woodward, at an exercise price of $6.26 per share. All such options were exercisable at the date of grant and by their terms will expire on the tenth anniversary of the grant date. As of October 10, 2023, the following outstanding stock options were held by each of our directors: Andrew J. Miclot – 59,998, Dr. Richard B. Miles – 60,998, Peter V. Anania – 26,666, Peter H. Woodward – 90,000. The following table sets forth cash amounts and the value of other compensation paid to our directors, but does not include the compensation of Dr. Joseph N. Forkey, our Chief Executive Officer, President, and Treasurer, as his compensation is reflected in the Summary Executive Compensation Table. During the fiscal year ended June 30, 2023, our Board of Directors determined that Dr. Joseph N. Forkey was our employee director and, therefore, would not earn any fees related to service on our Board. Under our director compensation plan, each non-management, non-Chairman board member received $1,250 for the first quarter of FY 2023. For the remainder of FY 2023, each non-Chairman board member received $2,500 quarterly and Mr. Miclot received an additional $2,500 quarterly as chair of the Compensation Committee. We also reimburse our directors for travel expenses. Mr. Woodward receives $10,000 per quarter for the performance of services as Chairman. Mr. Anania's total compensation was $110,301.