Responses to Questions*

ESOP-FAQ

The mailing of the distribution packages has been delayed because the third-party administrator required additional information and time to complete the final allocations and prepare participant account statements.

This amount was not distributed because the trust needs to maintain a reasonable portion of the proceeds in case any matters need to be addressed with the Internal Revenue Service as part of obtaining a favorable determination letter and to have a reasonable amount set aside for the operation of the trust until the trust is liquidated.

The amounts held in the trust are invested in a money market fund, and the final distribution will reflect any earnings.

All of the amounts held in the trust are invested in a money market fund, and the distributions will reflect any earnings.

No, distributions will only be made by check.

Yes, participants may split the distribution between a direct distribution and a direct rollover.

Yes, direct distributions are subject to 20% income tax withholding.

The final stock price cannot yet be determined. The transaction provides for certain amounts to be held in escrow. The final stock price will be determined when and to the extent the escrow funds are released.

Yes, the December 2020 and January 2021 distributions served as a partial distribution of proceeds to certain eligible participants; those participants will receive a true-up distribution relative to the shares that were redeemed.

*Participants should also refer to the Confidential ESOP Participant Information Statement including the questions and answers contained therein.