UPLD on Nasdaq
Upland Software, Inc.
Upland is a leader in AI-powered knowledge and content management software.4 From its latest annual report
Price unavailable
Last updated Oct 19, 2026.
Overview
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- TickerUPLD on Nasdaq2
- IndustryServices-Prepackaged Software2
- HeadquartersAustin, United States2
- Incorporated inTX3
- Business address900 S. Capital Of Texas Hwy, Las Cimas Iv, Suite 300, Austin, Tx 787463
- Filer categoryNon-accelerated filer, Smaller reporting company3
- Legal formCorporation2
- LEI549300NS277POYJ63W892
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 48452152
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Upland is a leader in AI-powered knowledge and content management software. Our solutions help enterprises unlock critical knowledge, automate content workflows, and drive measurable ROI in the following business functions:4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Subscription And Support brought in 95% of the revenue Upland Software, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Subscription And Support | $281.6M | $260.7M | $205.1M |
| Professional services and other | $10.2M | $8.3M | $6.5M |
| Perpetual License | $6.1M | $5.8M | $5.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue25¢$54.8M
- Research and development17¢$36.5M
- Other costs58¢$125.4M
- Income tax0¢$232.0K
Out of $216.9M in revenue.5 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending5¢$1.4M
- Kept or used elsewhere95¢$24.4M
Out of $25.8M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenue | $216.9M | $274.8M | $297.9M |
| Total cost of revenue | $54.8M | $81.1M | $96.4M |
| Gross profit | $162.1M | $193.7M | $201.5M |
| Sales and marketing | $44.1M | $66.3M | $64.3M |
| Research and development | $36.5M | $47.4M | $49.4M |
| General and administrative | $38.0M | $49.5M | $61.3M |
| Depreciation and amortization | $26.9M | $45.6M | $58.6M |
| Acquisition and divestiture related expenses | $9.7M | $19.0K | $3.1M |
| Impairment of goodwill and other intangibles | $2.5M | $87.2M | $128.8M |
| Total operating expenses | $157.7M | $296.0M | $365.4M |
| Income (loss) from operations | $4.4M | -$102.3M | -$163.9M |
| Interest expense, net | -$15.8M | -$8.9M | -$18.7M |
| Non-cash loss on divestitures of businesses | -$24.4M | $0 | $0 |
| Loss on debt extinguishment | -$2.3M | $0 | $0 |
| Other income (expense), net | -$652.0K | $1.1M | $236.0K |
| Total other expense, net | -$43.1M | -$7.8M | -$18.4M |
| Loss before benefit from (provision for) income taxes | -$38.7M | -$110.1M | -$182.4M |
| Benefit from (provision for) income taxes | -$232.0K | -$2.6M | $2.5M |
| Net loss | -$38.9M | -$112.7M | -$179.9M |
| Preferred stock dividends | -$5.8M | -$5.6M | -$5.3M |
| Net loss attributable to common stockholders, basic | -$44.8M | -$118.3M | -$185.2M |
| Net loss attributable to common stockholders, diluted | -$44.8M | -$118.3M | -$185.2M |
| Net loss per common share, basic (in dollars per share) | -$1.56 | -$4.26 | -$5.77 |
| Net loss per common share, diluted (in dollars per share) | -$1.56 | -$4.26 | -$5.77 |
| Weighted-average common shares outstanding, basic (in shares) | 28.6M shares | 27.8M shares | 32.1M shares |
| Weighted-average common shares outstanding, diluted (in shares) | 28.6M shares | 27.8M shares | 32.1M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $29.4M | $56.4M | ||
| Restricted cash | $626.0K | $626.0K | ||
| Accounts receivable, net of allowance for credit losses | $25.6M | $38.6M | ||
| Deferred commissions, current | $5.7M | $8.4M | ||
| Unbilled receivables | $4.0M | $3.4M | ||
| Income tax receivable, current | $1.8M | $762.0K | ||
| Prepaid expenses and other current assets | $8.2M | $10.1M | ||
| Total current assets | $75.3M | $118.4M | ||
| Tax credits receivable | $863.0K | $951.0K | ||
| Property and equipment, net | $1.8M | $1.5M | ||
| Operating lease right-of-use asset | $1.7M | $1.4M | ||
| Intangible assets, net | $62.3M | $123.9M | ||
| Goodwill | $259.6M | $261.0M | $353.8M | |
| Deferred commissions, noncurrent | $7.9M | $12.1M | ||
| Interest rate derivatives | $15.0K | $9.7M | ||
| Other assets | $3.7M | $529.0K | ||
| Total assets | $413.2M | $529.5M | ||
| Accounts payable | $2.1M | $9.4M | ||
| Accrued compensation | $4.4M | $6.2M | ||
| Accrued expenses and other current liabilities | $3.9M | $6.9M | ||
| Deferred revenue | $74.8M | $93.7M | ||
| Operating lease liabilities, current | $817.0K | $1.0M | ||
| Current maturities of notes payable (includes unamortized discount of $1,133 and $2,176 at December 31, 2025 and December 31, 2024, respectively) | $7.7M | $3.2M | ||
| Total current liabilities | $93.8M | $120.4M | ||
| Notes payable, less current maturities (includes unamortized discount of $4,961 and $1,280 at December 31, 2025 and December 31, 2024, respectively) | $224.7M | $287.0M | ||
| Deferred revenue, noncurrent | $4.8M | $4.7M | ||
| Operating lease liabilities, noncurrent | $2.0M | $762.0K | ||
| Noncurrent deferred tax liability, net | $6.7M | $11.3M | ||
| Other long-term liabilities | $505.0K | $428.0K | ||
| Total liabilities | $332.5M | $424.6M | ||
| Series A Convertible Preferred stock, 0.0001 par value; 5,000,000 shares authorized: 115,000 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $129.1M | $123.2M | ||
| Common stock, $0.0001 par value; $75,000,000 shares authorized as of December 31, 2025 and December 31, 2024, respectively; $29,118,178 and $28,168,267 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $3.0K | $3.0K | ||
| Additional paid-in capital | $607.3M | $605.3M | ||
| Accumulated other comprehensive loss | -$15.1M | -$22.0M | ||
| Accumulated deficit | -$640.5M | -$601.6M | ||
| Total stockholders deficit | -$48.4M | -$18.3M | $126.3M | $308.9M |
| Total liabilities, convertible preferred stock and stockholders deficit | $413.2M | $529.5M | ||
| Unamortized discount, current | $1.1M | $2.2M | ||
| Unamortized discount, noncurrent | $5.0M | $1.3M | ||
| Series A convertible preferred stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | |
| Series A convertible preferred stock, authorized (in shares) | 5.0M shares | 5.0M shares | ||
| Series A convertible preferred stock, issued (in shares) | 115.0K shares | 115.0K shares | ||
| Series A convertible preferred stock, outstanding (in shares) | 115.0K shares | 115.0K shares | 115.0K shares | 115.0K shares |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock authorized (in shares) | 75.0M shares | 75.0M shares | ||
| Common stock issued (in shares) | 29.1M shares | 28.2M shares | ||
| Common stock outstanding (in shares) | 29.1M shares | 28.2M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $29.4M | $56.4M | ||
| Restricted cash | $626.0K | $626.0K | ||
| Accounts receivable, net of allowance for credit losses | $25.6M | $38.6M | ||
| Deferred commissions, current | $5.7M | $8.4M | ||
| Unbilled receivables | $4.0M | $3.4M | ||
| Income tax receivable, current | $1.8M | $762.0K | ||
| Prepaid expenses and other current assets | $8.2M | $10.1M | ||
| Total current assets | $75.3M | $118.4M | ||
| Tax credits receivable | $863.0K | $951.0K | ||
| Property and equipment, net | $1.8M | $1.5M | ||
| Operating lease right-of-use asset | $1.7M | $1.4M | ||
| Intangible assets, net | $62.3M | $123.9M | ||
| Goodwill | $259.6M | $261.0M | $353.8M | |
| Deferred commissions, noncurrent | $7.9M | $12.1M | ||
| Interest rate derivatives | $15.0K | $9.7M | ||
| Other assets | $3.7M | $529.0K | ||
| Total assets | $413.2M | $529.5M | ||
| Accounts payable | $2.1M | $9.4M | ||
| Accrued compensation | $4.4M | $6.2M | ||
| Accrued expenses and other current liabilities | $3.9M | $6.9M | ||
| Deferred revenue | $74.8M | $93.7M | ||
| Operating lease liabilities, current | $817.0K | $1.0M | ||
| Current maturities of notes payable (includes unamortized discount of $1,133 and $2,176 at December 31, 2025 and December 31, 2024, respectively) | $7.7M | $3.2M | ||
| Total current liabilities | $93.8M | $120.4M | ||
| Notes payable, less current maturities (includes unamortized discount of $4,961 and $1,280 at December 31, 2025 and December 31, 2024, respectively) | $224.7M | $287.0M | ||
| Deferred revenue, noncurrent | $4.8M | $4.7M | ||
| Operating lease liabilities, noncurrent | $2.0M | $762.0K | ||
| Noncurrent deferred tax liability, net | $6.7M | $11.3M | ||
| Other long-term liabilities | $505.0K | $428.0K | ||
| Total liabilities | $332.5M | $424.6M | ||
| Series A Convertible Preferred stock, 0.0001 par value; 5,000,000 shares authorized: 115,000 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $129.1M | $123.2M | ||
| Common stock, $0.0001 par value; $75,000,000 shares authorized as of December 31, 2025 and December 31, 2024, respectively; $29,118,178 and $28,168,267 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $3.0K | $3.0K | ||
| Additional paid-in capital | $607.3M | $605.3M | ||
| Accumulated other comprehensive loss | -$15.1M | -$22.0M | ||
| Accumulated deficit | -$640.5M | -$601.6M | ||
| Total stockholders deficit | -$48.4M | -$18.3M | $126.3M | $308.9M |
| Total liabilities, convertible preferred stock and stockholders deficit | $413.2M | $529.5M | ||
| Unamortized discount, current | $1.1M | $2.2M | ||
| Unamortized discount, noncurrent | $5.0M | $1.3M | ||
| Series A convertible preferred stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | |
| Series A convertible preferred stock, authorized (in shares) | 5.0M shares | 5.0M shares | ||
| Series A convertible preferred stock, issued (in shares) | 115.0K shares | 115.0K shares | ||
| Series A convertible preferred stock, outstanding (in shares) | 115.0K shares | 115.0K shares | 115.0K shares | 115.0K shares |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock authorized (in shares) | 75.0M shares | 75.0M shares | ||
| Common stock issued (in shares) | 29.1M shares | 28.2M shares | ||
| Common stock outstanding (in shares) | 29.1M shares | 28.2M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$38.9M | -$112.7M | -$179.9M |
| Depreciation and amortization | $32.1M | $55.0M | $72.0M |
| Deferred income taxes | -$5.3M | -$3.7M | -$4.2M |
| Amortization of deferred costs | $8.1M | $12.2M | $13.2M |
| Foreign currency re-measurement | -$873.0K | -$999.0K | -$538.0K |
| Non-cash interest, net and other income, net | -$2.9M | -$12.0M | -$3.0M |
| Non-cash stock-based compensation expense | $9.1M | $15.3M | $22.9M |
| Non-cash loss on impairment of goodwill and other intangibles | $2.5M | $87.2M | $128.8M |
| Non-cash loss on divestitures of businesses | $24.4M | $0 | $0 |
| Non-cash loss on retirement of fixed assets | $60.0K | $17.0K | $47.0K |
| Non-cash loss on debt extinguishment | $2.3M | $0 | $0 |
| Accounts receivable | $5.4M | -$328.0K | $8.9M |
| Prepaid expenses and other current assets | -$854.0K | $74.0K | -$471.0K |
| Other assets | -$1.1M | -$10.1M | $10.9M |
| Accounts payable | -$5.7M | $1.3M | -$6.9M |
| Accrued expenses and other liabilities | -$926.0K | -$556.0K | -$6.2M |
| Deferred revenue | -$1.6M | -$6.5M | -$5.5M |
| Net cash provided by operating activities | $25.8M | $24.2M | $49.9M |
| Purchase of property and equipment | -$1.4M | -$882.0K | -$1.2M |
| Collections on note receivable | $339.0K | $0 | $0 |
| Proceeds from the divestitures of businesses, net of cash transferred | $9.8M | $0 | $0 |
| Net cash provided by (used in) investing activities | $8.8M | -$882.0K | -$1.2M |
| Proceeds from notes payable, net of debt discount | $234.6M | $0 | $0 |
| Payments on notes payable | -$295.1M | -$188.4M | -$40.4M |
| Payments of debt issuance costs | -$1.6M | -$358.0K | -$221.0K |
| Stock repurchases and retirement | -$137.0K | -$11.0M | -$14.1M |
| Taxes paid related to net share settlement of equity awards | -$1.1M | -$2.6M | -$1.1M |
| Issuance of common stock, net of issuance costs | $0 | $0 | $5.0K |
| Additional consideration paid to sellers of businesses | $0 | $0 | -$5.6M |
| Net cash used in financing activities | -$63.4M | -$202.3M | -$61.4M |
| Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash | $1.8M | -$557.0K | $567.0K |
| Change in cash, cash equivalents and restricted cash | -$27.0M | -$179.5M | -$12.1M |
| Cash paid for interest, net of interest rate derivatives | $20.4M | $28.9M | $32.1M |
| Cash paid for taxes, net of refunds | $6.9M | $2.0M | $7.1M |
| Note receivable from divestiture of businesses, net of discount | $4.9M | $0 | $0 |
| Operating leases | $1.3M | $0 | $0 |
No quarter-by-quarter statement was filed.
Leadership
Who has led Upland Software, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerSean Nathaniel May 4, 2026 to now13
- Chief executive officerJohn T. McDonald Nov 5, 2014 to May 4, 202614
- PresidentSean Nathaniel May 4, 2026 to now13
- PresidentKaren Cummings Mar 19, 2024 to May 4, 202615
- PresidentRodney C. Favaron Mar 3, 2020 to Jun 21, 202216
- PresidentTimothy Mattox May 14, 2015 to Feb 12, 202117
- PresidentLudwig Melik Nov 5, 2014 to Nov 5, 201418
- Chief financial officerDavid Tamez Aug 3, 2026 to Aug 18, 202619
- Chief financial officerJennifer L. Simon Aug 18, 2026 to now20
- Chief operating officerDan Doman Sep 17, 2025 to now21
- Chief operating officerKaren Cummings Mar 19, 2024 to Sep 17, 202515
- Chief operating officerTimothy Mattox Nov 5, 2014 to Feb 12, 202122
Board members and other officers (15)
- Chief Revenue OfficerMatthew Breslin Feb 7, 2024 to Feb 7, 202423
- Executive VP & Senior GMKaren Cummings Jul 7, 2023 to Jan 31, 202424
- Chief Sales OfficerOliver Robert Macfarlane Yates Jul 7, 2023 to Mar 19, 202425
- Chief Business OfficerIan Burk Aug 8, 2022 to Dec 20, 202226
- Chief Product OfficerDan Doman Aug 9, 2022 to now27
- Executive Vice PresidentR. Brian Henley Nov 5, 2014 to Nov 5, 201428
- Board memberTimothy Mattox Jan 8, 2024 to now29
- Board memberTeresa Miles Walsh Mar 5, 2020 to now30
- Board memberJohn D. Thornton Nov 5, 2014 to Aug 10, 201631
- Board memberJohn T. McDonald Nov 5, 2014 to now14
- Board memberRodney C. Favaron Nov 5, 2014 to Aug 7, 201932
- Board memberStephen E. Courter Nov 5, 2014 to now33
- Board memberSteven Sarracino Nov 5, 2014 to Nov 12, 201534
- General counselMatthew Harnden Smith Nov 1, 2023 to now35
- General counselKinloch Gill Iii. May 10, 2021 to Sep 19, 202336
Former names
- Silverback Acquisition CorpNov 10, 2010 to Nov 10, 20103
Timeline
Filings
321 filings to the SEC since October 2021: 7 annual reports, 17 quarterly reports, 46 major events, 188 insider forms, 19 large holders, 44 other. The latest 20:
- Sep 21, 20264 EDGAR
- Sep 21, 20264 EDGAR
- Sep 21, 20264 EDGAR
- Aug 18, 20264 EDGAR
- Aug 18, 20263 EDGAR
- Aug 14, 202610-Q EDGAR
- Aug 14, 20268-K EDGAR
- Aug 11, 20264 EDGAR
- Aug 10, 20264 EDGAR
- Aug 7, 2026144 EDGAR
- Aug 6, 2026144 EDGAR
- Aug 6, 20264 EDGAR
- Aug 5, 2026144 EDGAR
- Aug 5, 20268-K EDGAR
- Aug 4, 2026144 EDGAR
- Aug 4, 20264 EDGAR
- Aug 3, 20263 EDGAR
- Aug 3, 2026144 EDGAR
- Jul 31, 2026144 EDGAR
- Jul 21, 20268-K EDGAR
The 321 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
31 open-market trades by officers, directors and large owners since October 2021: 12 buys and 19 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 7, 2026 | Mattox TimothyDirector | Sale | 847 | $4.28 | $3.6K | Form 4 |
| Aug 6, 2026 | Mattox TimothyDirector | Sale | 1,000 | $4.27 | $4.3K | Form 4 |
| Aug 5, 2026 | Mattox TimothyDirector | Sale | 1,000 | $4.53 | $4.5K | Form 4 |
| Aug 4, 2026 | Mattox TimothyDirector | Sale | 1,000 | $4.33 | $4.3K | Form 4 |
| Aug 3, 2026 | Mattox TimothyDirector | Sale | 1,000 | $4.45 | $4.5K | Form 4 |
| Jul 31, 2026 | Mattox TimothyDirector | Sale | 1,000 | $4.48 | $4.5K | Form 4 |
| Sep 11, 2025 | MCDONALD JOHN TDirector | Sale | 14,438 | $2.36 | $34.1K | Form 4 |
| Mar 17, 2025 | Mattox TimothyDirector | Sale | 20,000 | $3.19 | $63.8K | Form 4 |
| Dec 17, 2024 | Mattox TimothyDirector | Sale | 2,768 | $4.56 | $12.6K | Form 4 |
| Nov 14, 2024 | Mattox TimothyDirector | Sale | 18,000 | $2.50 | $45.0K | Form 4 |
| Nov 13, 2024 | Mattox TimothyDirector | Sale | 2,000 | $2.64 | $5.3K | Form 4 |
| Aug 9, 2024 | MCDONALD JOHN TDirector | Buy | 66,365 | $1.96 | $130.1K | Form 4 |
| Aug 8, 2024 | MCDONALD JOHN TDirector | Buy | 33,635 | $1.98 | $66.6K | Form 4 |
| Nov 21, 2023 | COURTER STEPHEN EDirector | Sale | 20,448 | $4.43 | $90.6K | Form 4 |
| Nov 7, 2023 | Doman DanChief Operating & Product Ofcr | Sale | 13,996 | $4.80 | $67.2K | Form 4 |
| Mar 13, 2023 | MCDONALD JOHN TDirector | Buy | 10,000 | $4.75 | $47.5K | Form 4 |
| Mar 10, 2023 | MCDONALD JOHN TDirector | Buy | 10,000 | $4.80 | $48.0K | Form 4 |
| Dec 19, 2022 | Burk IanChief Business Officer | Sale | 6,266 | $7.52 | $47.1K | Form 4 |
| Nov 7, 2022 | Gill Kinloch IIICLO and Secretary | Sale | 8,300 | $7.32 | $60.8K | Form 4 |
| Oct 13, 2022 | COURTER STEPHEN EDirector | Sale | 3,500 | $7.06 | $24.7K | Form 4 |
All 31 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD GROUP INCSCHEDULE 13G/A, 3 filings Feb 9, 2023 to Mar 27, 202637
- Schaick Petrus Paulus VanSCHEDULE 13G/A, 3 filings Jan 30, 2025 to Nov 10, 202538
- CastleKnight Master Fund LPSCHEDULE 13G/A, 2 filings Aug 8, 2024 to Feb 14, 202539
- ULYSSES AGGREGATOR, LPSC 13D/A, 4 filings Aug 25, 2022 to Jun 17, 202440
- Marathon Asset Management LtdSC 13G/A, 2 filings Jan 28, 2022 to Feb 8, 202341
- John T. McDonaldSC 13D/A, 1 filing Oct 21, 202242
- CDAM (UK) LtdSC 13G/A, 1 filing Feb 8, 202243
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 27. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 15SEC EDGARKaren Cummings, President
- 16SEC EDGARRodney C. Favaron, President
- 17SEC EDGARTimothy Mattox, President
- 18SEC EDGARLudwig Melik, President
- 19SEC EDGARDavid Tamez, Chief financial officer
- 20
- 21SEC EDGARDan Doman, Chief operating officer
- 22
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- 26SEC EDGARIan Burk, Chief Business Officer
- 27SEC EDGARDan Doman, Chief Product Officer
- 28
- 29SEC EDGARTimothy Mattox, Board member
- 30SEC EDGARTeresa Miles Walsh, Board member
- 31SEC EDGARJohn D. Thornton, Board member
- 32SEC EDGARRodney C. Favaron, Board member
- 33SEC EDGARStephen E. Courter, Board member
- 34SEC EDGARSteven Sarracino, Board member
- 35
- 36SEC EDGARKinloch Gill Iii., General counsel
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