2024-04-25T17:11:28-05:00 2023-12-31 990292355 KKDLY LLC 745 FORT ST STE 2100 HONOLULU HI 96813 990 2023-01-01 237438736 CANADA-FRANCE-HAWAII TELESCOPE CORP CANA 8088857944 65-1238 MAMALAHOA HWY KAMUELA HI 96743 TRACY YOST CFO 8088857944 2024-04-19 0 TRACY YOST 999009999 0 QIANYING NICHOLS P01236169 8085213962 2024-04-19 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z TRACY YOST 65-1238 MAMALAHOA HWY KAMUELA HI 96743 11074946 0 X WWW.CFHT.HAWAII.EDU X 1974 HI OPERATE 3.6 METER ASTRONOMICAL TELESCOPE TO FURTHER THE KNOWLEDGE AND UNDERSTANDING OF THE UNIVERSE THROUGH SCIENTIFIC REASEARCH, STUDIES, EDUCATION, AND DISSEMINATION OF SUCH KNOWLEDGE. 10 10 50 15 0 0 8591401 8904724 695845 742392 -31939 152350 0 0 9255307 9799466 9483 13169 0 0 6941808 7254373 0 0 23234 3066288 3049928 10017579 10317470 -762272 -518004 14275080 13863720 958413 948943 13316667 12914777 X OPERATE 3.6 METER ASTRONOMICAL TELESCOPE TO FURTHER THE KNOWLEDGE AND UNDERSTANDING OF THE UNIVERSE THROUGH SCIENTIFIC RESEARCH, STUDIES, EDUCATION, AND DISSEMINATION OF SUCH KNOWLEDGE. 0 0 8002831 13169 742392 SEE SCHEDULE O 856388 SEE SCHEDULE O SEE SCHEDULE O 8859219 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 20 0 1 50 1 0 1 CA 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 HI X TRACY YOST 8088857944 65-1238 MAMALAHOA HWY KAMUELA HI 96743 X HERVE AUSSEL CHAIRMAN 3.00 X X 0 0 0 MICHAEL BALOGH VICE CHAIRMAN 3.00 X X 0 0 0 DOUGLAS SIMONS TREASURER 3.00 X X 0 0 0 J-J KAVELAARS SECRETARY 3.00 X X 0 0 0 MARTIN GIARD DIRECTOR 3.00 X 0 0 0 CLAIRE MOUTOU DIRECTOR 3.00 X 0 0 0 THIERRY CONTINI DIRECTOR 3.00 X 0 0 0 DAVID LONBORG DIRECTOR 3.00 X 0 0 0 LAURA FERRARESE DIRECTOR 3.00 X 0 0 0 STEFI BAUM DIRECTOR 3.00 X 0 0 0 JEAN GABRIEL CUBY EXECUTIVE DIRECTOR 50.00 X 227073 0 51341 TRACY YOST CFO 50.00 X 194016 0 51211 KEVIN HO DIRECTOR OF ENGINEERING 50.00 X 180533 0 50547 NADINE MANSET DIRECTOR OF SCIENCE 50.00 X 160223 0 42606 ANDREW SHEINIS DIRECTOR OF MSE OPERATIC 50.00 X 231843 0 54396 DANIEL DEVOST RESIDENT ASTRONOMER 50.00 X 229315 0 57984 GREGORY BARRICK OPTICAL ENGINEER 50.00 X 166752 0 51434 MARC BARIL ELECTRONICS ENGINEER 50.00 X 212748 0 46595 SAMUEL BARDEN SYSTEMS ENGINEER 50.00 X 165384 0 47749 1767887 0 453863 24 0 1 0 MAUNAKEA SHARED SERVICES 640 N AOHOKU PLACE HILO HI 96720 SUMMIT/H.P. SUPPORT 157244 1 8904724 8904724 CONTRACT REVENUE 541700 708058 708058 MISC DIRECT REIMB 541700 27954 27954 EDUCATIONAL MATERIALS 541900 6380 6380 742392 225041 225041 1202789 1270256 5224 -67467 -5224 -72691 -72691 9799466 742392 0 152350 6392 6392 5000 5000 1777 1777 952550 486714 451885 13951 4614659 4180625 426029 8005 514198 466701 47497 787074 684100 102974 385892 327582 58310 4553 4553 63303 63303 6426 6426 324916 274934 49982 568 568 64177 34606 29571 165365 164173 1192 409866 407900 1966 221122 143696 76148 1278 34798 20652 14146 1178402 1173960 4442 62071 33451 28620 TECHNICAL AND OTHER SUP 228666 218944 9722 MAINTENANCE AND REPAIRS 91483 90163 1320 CAMP MEALS AND LODGING 25769 25769 FEES, TAXES AND LICENCE 3834 3183 651 164609 108329 56280 10317470 8859219 1435017 23234 3092309 3648150 239003 14026 194739 291606 26930 42510221 35189552 8300590 7320669 2448439 2562339 14275080 13863720 845474 837108 112939 111835 958413 948943 X 13114817 12718278 201850 196499 13316667 12914777 14275080 13863720 -518004 116114 0 X 0 1 X 1 0 X 8324245 9592102 8445025 8591401 8904724 43857497 8324245 9592102 8445025 8591401 8904724 43857497 43857497 78427 53543 49315 51303 225041 457629 44315126 3254058 0.98970 0.99340 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 303703 303703 15180878 11900776 3280102 27025640 23288776 3736864 7320669 X 10464819 116114 555665 671779 9793040 6426 6426 9799466 10866709 555665 555665 10311044 6426 6426 10317470 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE, AS EVIDENCED BY ITS TAX DETERMINATION LETTER DATED JANUARY 27, 1976 AND IS GENERALLY NOT SUBJECT TO FEDERAL INCOME TAXES. HOWEVER, THE CORPORATION IS SUBJECT TO INCOME TAXES ON ANY NET INCOME THAT IS DERIVED FROM TRADE OR BUSINESS, REGULARLY CARRIED ON AND NOT IN FURTHERANCE OF THE PURPOSES FOR WHICH IT WAS GRANTED EXEMPTION. NO INCOME TAX PROVISION HAS BEEN RECORDED, AS IT IS THE OPINION OF MANAGMENT THAT NET INCOME FROM ANY UNRELATED TRADE OR BUSINESS, IF ANY, IS NOT MATERIAL TO THE FINANCIAL STATEMENTS TAKEN AS A WHOLE. THE CORPORATION DETERMINES WHETHER A TAX POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTION OF ANY RELATED APPEALS OF LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS OF THE POSITION. FOR TAX POSITIONS MEETING THE MORE-LIKELY-THAN-NOT THRESHOLD, THE TAX AMOUNT RECOGNIZED IN THE FINANCIAL STATEMENTS IS THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE RELEVENT TAXING AUTHORITY. WITH FEW EXCEPTIONS, THE CORPORATION IS NO LONGER SUBJECT TO US FEDERAL EXAMINATIONS BY TAX AUTHORITIES THROUGH THE YEAR ENDED DECEMBER 31, 2019. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICE TRAVEL 24041 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICE PRINTING 27174 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICE TRAVEL 26239 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICE TRAVEL 21519 0 0 0 0 0 0 98973 0 98973 0 0 0 0 0 0 0 HOKUALA SCHOLARSHIP 1 5000 X X X X 0 0 0 0 0 0 0 0 0 DANIEL DEVOST RESIDENT ASTRONOMER 203149 0 2500 0 23666 0 21396 0 36588 0 287299 0 0 0 ANDREW SHEINIS DIRECTOR OF MSE OPERATIC 208177 0 0 0 23666 0 22250 0 32146 0 286239 0 0 0 JEAN GABRIEL CUBY EXECUTIVE DIRECTOR 227073 0 0 0 0 0 24728 0 26613 0 278414 0 0 0 MARC BARIL ELECTRONICS ENGINEER 187582 0 1500 0 23666 0 19596 0 26999 0 259343 0 0 0 TRACY YOST CFO 192016 0 2000 0 0 0 23282 0 27929 0 245227 0 0 0 KEVIN HO DIRECTOR OF ENGINEERING 178533 0 2000 0 0 0 21336 0 29211 0 231080 0 0 0 GREGORY BARRICK OPTICAL ENGINEER 165252 0 1500 0 0 0 20016 0 31418 0 218186 0 0 0 SAMUEL BARDEN SYSTEMS ENGINEER 164884 0 500 0 0 0 19380 0 28369 0 213133 0 0 0 NADINE MANSET DIRECTOR OF SCIENCE 159223 0 1000 0 0 0 19035 0 23571 0 202829 0 0 0 PART I, LINE 3 THE SALARIES ARE BASED UPON MARKET BASED COMPARISONS OF SIMILAR INDUSTRIES AND INSTITUTIONS IN WHICH WE COMPETE FOR EMPLOYEES. EACH POSITION WITHIN THE COMPANY HAS MARKET BASED COMPENSATION BANDS THAT ARE REVIEWED AND UPDATED ANNUALLY. THE COMPENSATION BANDS ARE BASED ON LOCAL AND REGIONAL SALARY SURVEYS FROM VARIETY OF SOURCES. COMPENSATION WITHIN THE BANDS FROM LOW TO HIGH IS DEPENDENT ON A VARIETY OF FACTORS - CAREER EXPERIENCE, TENURE WITHIN THE COMPANY, JOB PERFORMANCE, ETC. FORM 990, PART III, LINE 4A: OBSERVATORY OPERATIONS CANADA-FRANCE-HAWAII TELESCOPE (CFHT) IS A HIGH-TECH SERVICE PROVIDER DELIVERING EXQUISITE ASTRONOMICAL DATA LEADING TO SCIENTIFIC DISCOVERIES AT THE FOREFRONT OF TODAY'S ASTRONOMY. CFHT OPERATES, MAINTAINS AND DEVELOPS STATE-OF-THE-ART INSTRUMENTATION ON ITS TELESCOPE LOCATED AT THE TOP OF MAUNAKEA IN HAWAI'I, ONE OF THE BEST SITES IN THE WORLD FOR ASTRONOMICAL RESEARCH, SERVICING THE SCIENTIFIC COMMUNITIES FROM CANADA, FRANCE AND HAWAI'I, AND THROUGH COLLABORATIVE AGREEMENTS WITH TAIWAN AND CHINA. IN ADDITION, CFHT CONDUCTS SCIENTIFIC OBSERVATIONS ON BEHALF OF ITS ASTRONOMICAL COMMUNITY, AS WELL AS THE DATA REDUCTION STEMMING FROM THOSE OBSERVATIONS. FOR EACH OF THE 365 NIGHTS OF THE YEAR 2023, THE SCHEDULE HAD ONE INSTRUMENT ON THE TELESCOPE AND ACQUIRED DATA AS WEATHER PERMITTED. IN ADDITION TO THREE LARGE PROGRAMS THAT INVOLVED SERVERAL DOZENS OF SCIENTISTS FROM COMMUNITIES WORLDWIDE, CFHT PERFORMED OBSERVATIONS FOR OVER 160 PROPOSALS, REPRESENTING HUNDREDS OF ACTIVE COLLABORATORS. SOME OF THESE PROPOSALS WERE FROM HIGH SCHOOL STUDENTS PARTICIPATING IN THE MAUNAKEA SCHOLARS PROGRAM. ALSO IN 2023, A LITTLE OVER 200 PUBLICATIONS APPEARED IN REFEREED SCIENTIFIC JOURNALS BASED ON PRIOR YEARS' OBSERVATIONS AT CFHT. CFHT'S COMMUNICATIONS AND OUTREACH PROGRAM PLAYS AN IMPORTANT ROLE IN THE LOCAL COMMUNITY VIA ITS EDUCATIONAL ACTIVITIES IN NEIGHBORING SCHOOLS AND CULTURAL CENTERS. THIS APPROACH IS THREEFOLD: (1) SHOWCASE CFHT'S STAFF, SCIENCE AND INSTRUMENTATION, (2) ENGAGE, EXCITE AND INSPIRE HAWAI'I ISLAND KEIKI AND THEIR FAMILIES, AND (3) EXPAND CFHT'S OUTREACH PRESENCE IN OUR PARTNER COUNTRIES. CFHT SUPPORTED THREE MAJOR OUTREACH INITIATIVES AIMED AT LOCAL STUDENTS. CFHT CONTINUES TO WORK WITH THE "JOURNEY THROUGH THE UNIVERSE" PROGRAM, SUPPORTING CLASSROOM VISITS FOR STUDENTS ACROSS HAWAI'I ISLAND. TEACHERS SELECT A TOPIC FOR THEIR CLASSROOM. TOPICS EITHER SUPPORT EDUCATIONAL STANDARDS, FOR EXAMPLE REINFORCING CONTENT LIKE PHASES OF THE MOON, HOW STARS MOVE ACROSS THE SKY, ETC. OR FOCUS ON STUDENT INTERESTS (BLACK HOLES, EXOPLANETS, ETC.) THE SECOND INITIATIVE WAS THE MAUNAKEA SCHOLARS PROGRAM, WHICH GAVE STUDENTS FROM THIRTEEN HAWAI'I HIGH SCHOOLS THE OPPORTUNITY TO COMPETE FOR ACTUAL TELESCOPE OBSERVING TIME. THIRTY-FIVE (35) STUDENTS FROM SEVEN HIGH SCHOOLS RECEIVED TELESCOPE TIME DURING 2023. 2023 WAS A FULL RESUMPTION OF CFHT'S IN-PERSON ACTIVITIES. STAFF PARTICIPATED IN THE WAIMEA SOLAR SYSTEM WALK, ASTRO DAY IN HILO AND KONA, WINTER STAR PARTY, WAIMEA CHRISTMAS PARADE, CLASSROOM VISITS, SUMMIT TOURS, AND OTHER COMMUNITY ACTIVITIES. PROGRAM SERVICE EXPENSES INCLUDE REIMBURSED EXPENSES OF $708,058 FOR ASTRONOMER SERVICES (REIMBURSED ASTONOMER SERVICES), AND $27,954 IN MISCELLANEOUS DIRECT REIMBURSED EXPENSES RELATED TO CARRYING OUT ASTRONOMICAL RESEARCH ON MAUNAKEA. FORM 990, PART III, LINE 4B: MAUNAKEA SPECTOGRAPHIC EXPLORER (MSE) PROJECT IN 2023, THE MSE PROJECT OFFICE CONTINUED TO DEVELOP THE MSE TELESCOPE DESIGN IN ADVANCE OF A FEASIBILITY REVIEW. IN PARALLEL, THE DECISION WAS MADE TO EXPAND THE FUNDING EFFORTS FOR THE PROJECT. OUR KEY EFFORTS DURING THE YEAR INCLUDED SUBMITTING GRANT APPLICATIONS TO THE NATIONAL SCIENCE FOUNDATION FOR DEVELOPMENT FUNDS TO BUILD A CFHT/MSE IFU INSTRUMENT THAT IS CONSISTENT WITH THE SCIENCE CAPABILITIES AS WELL AS WITH THE ASTRO 2020 SURVEY REPORT. IN NOVEMBER 2021, THE U.S. ASTRO2020 SURVEY REPORT WAS RELEASED RECOGNIZING MSE IS WELL MATCHED WITH TWO OF THE THREE GROUND-BASED SCIENTIFIC CAPABILITIES NEEDED IN THE U.S. ASTRONOMICAL COMMUNITY. GOING FORWARD THE MSE PROJECT OFFICE WILL ENSURE ITS DEVELOPMENT ACTIVITIES ARE COMPATIBLE WITH THE ASTRO 2020 SURVEY RECOMMENDATIONS ALONG WITH THE EXISTING MSE PARTNERS' NATIONAL EXPECTATIONS. FORM 990, PART III, LINE 4C: IN 2023, ALL OUR STATE-OF-THE-ART INSTRUMENTS WERE AVAILABLE TO ALL OF CFHT'S COMMUNITY. WE OPERATE FIVE INSTRUMENTS REMOTELY DURING NORMAL OPERATIONS, WHICH ALSO INCLUDES TWO BENCHMARK SURVEYS: (1) TO DISCOVER NEARBY EARTH-LIKE PLANETS IN THE HABITABLE ZONE OF THE MOST NEARBY STARS, AND (2) TO ANSWER SOME OF THE MOST FUNDAMENTAL QUESTIONS IN ASTRONOMY ABOUT THE PROPERTIES OF DARK MATTER AND DARK ENERGY, THE GROWTH OF STRUCTURE IN THE UNIVERSE FROM GALACTIC TO GALAXY CLUSTER SCALES, AND THE ASSEMBLY OF THE MILKY-WAY, AND (3) TO DISCOVER, TRACK, AND CHARACTERIZE SMALL SOLAR SYSTEMS OBJECTS BEYOND THE ORBIT OF NEPTUNE TO TEST PLANET FORMATION MODELS. CFHT OPERATED AT FULL CAPACITY IN 2023. FORM 990, PART VI, SECTION A, LINE 6 CFHT WAS FORMED UNDER A TRIPARTITE AGREEMENT BETWEEN THE NATIONAL RESEARCH COUNCIL (NRC) OF CANADA, THE CENTRE NATIONAL DE LA RECHERCHE SCIENTIFIQUE (CNRS) OF FRANCE, AND THE UNIVERSITY OF HAWAI'I (UH). THESE THREE INSTITUTIONS ARE THE MEMBERS OF THE CORPORATION, REFERRED TO AS THE MEMBER AGENCIES. NRC AND CNRS ARE BOTH GOVERNMENT-FUNDED, RESEARCH AGENCIES OF THEIR RESPECTIVE COUNTRIES. THE UH IS A PUBLIC SYSTEM OF HIGHER EDUCATION IN THE STATE OF HAWAI'I. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER AGENCIES APPOINT THE MEMBERS OF THE GOVERNING BODY (BOARD OF DIRECTORS). NRC AND CNRS EACH APPOINT FOUR DIRECTORS AND THE UH APPOINTS TWO DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS SUBMITTED TO THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS TO REVIEW THE FORM AND RECONCILE THE FINANCIAL AMOUNTS TO THE AUDITED FINANCIAL STATEMENTS. ONCE THIS PROCESS IS COMPLETE, MANAGEMENT SUBMITS THE FORM 990 TO THE BOARD OF DIRECTORS FOR THEIR ADDITIONAL REVIEW, ALONG WITH THE AUDITED FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 12C COMPANY POLICY REQUIRES ALL MEMBERS OF THE GOVERNING BODY AND KEY EMPLOYEES TO DISCLOSE CONFLICTS OF INTEREST ANNUALLY ON A SIGNED STATEMENT. THESE STATEMENTS ARE REVIEWED BY MANAGEMENT FOR COMPLIANCE. IF A CONFLICT IS DISCOVERED, IT IS ESCALATED TO THE APPROPRIATE PARTY WITHIN THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15 15 (A) THE CURRENT EXECUTIVE DIRECTOR (ED), DR. JEAN-GABRIEL CUBY, BEGAN HIS TERM ON JULY 15, 2022. HIS SALARY WAS DETERMINED BY COMPARABLE MARKET DATA FROM SIMILAR INSTITUTIONS AND DELIBERATION BY THE BOARD OF DIRECTORS. EVERY TWO YEARS THE BOARD OF DIRECTORS CONDUCTS AN EVALUATION OF THE ED'S PERFORMANCE AND REEVALUATES THE COMPENSATION BASED ON MARKET DATA AND JOB PERFORMANCE, ADJUSTING AS DEEMED APPROPRIATE. THE ACTIONS ARE DOCUMENTED BY CONTEMPORANEOUS SUBSTANTIATION WITH AUTHORIZATIONS NOTED IN THE BOARD MINUTES. 15(B) THE SALARIES OF OFFICERS AND KEY EMPLOYEES ARE DETERMINED BY THE EXECUTIVE DIRECTOR BASED UPON MARKET BASED COMPARISONS OF SIMILAR INDUSTRIES AND INSTITUTIONS IN WHICH WE COMPETE FOR EMPLOYEES. EACH POSITION WITHIN THE COMPANY HAS MARKET BASED COMPENSATION BANDS THAT ARE REVIEWED AND UPDATED ANNUALLY. THE COMPENSATION BANDS ARE BASED ON LOCAL AND REGIONAL SALARY SURVEYS FROM VARIETY OF SOURCES. COMPENSATION WITHIN THE BANDS FROM LOW TO HIGH IS DEPENDENT ON A VARIETY OF FACTORS - CAREER EXPERIENCE, TENURE WITHIN THE COMPANY, JOB PERFORMANCE, ETC. ALL EMPLOYEES HAVE AN ANNUAL REVIEW WHICH INCLUDES A DETERMINATION OF COMPENSATIONS ADJUSTMENTS. COMPENSATION INCREASES CONSIST OF A COST OF LIVING ADJUSTMENT AND A MERIT BASED ADJUSTMENT. THE COST OF LIVING ADJUSTMENT IS APPLIED TO ALL EMPLOYEES BASED ON LOCATION INFLATION AND MARKET BASED INDICATORS. MERIT BASED INCREASES ARE CONSIDERED FOR EACH EMPLOYEE BASED ON PERFORMANCE, EXPERIENCE AND PROFESSIONAL SKILLS DEVELOPMENT EXHIBITED BY THE EMPLOYEE. ALL PAY INCREASES ARE APPROVED BY THE BOARD OF DIRECTORS PRIOR TO BEING IMPLEMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII COMPENSATION EXPLANATION HERVE AUSSEL REIMBURSED UNDER AN ACCOUNTABLE PLAN FOR TRAVEL EXPENSES INCURRED TO ATTEND ANNUAL BOARD OF DIRECTOR'S MEETING. MICHAEL BALOGH REIMBURSED UNDER AN ACCOUNTABLE PLAN FOR TRAVEL EXPENSES INCURRED TO ATTEND ANNUAL BOARD OF DIRECTOR'S MEETING. DOUGLAS SIMONS REIMBURSED UNDER AN ACCOUNTABLE PLAN FOR TRAVEL EXPENSES INCURRED TO ATTEND ANNUAL BOARD OF DIRECTOR'S MEETING. J-J KAVELAARS REIMBURSED UNDER AN ACCOUNTABLE PLAN FOR TRAVEL EXPENSES INCURRED TO ATTEND ANNUAL BOARD OF DIRECTOR'S MEETING. MARTIN GIARD REIMBURSED UNDER AN ACCOUNTABLE PLAN FOR TRAVEL EXPENSES INCURRED TO ATTEND ANNUAL BOARD OF DIRECTOR'S MEETING. CLAIRE MOUTOU REIMBURSED UNDER AN ACCOUNTABLE PLAN FOR TRAVEL EXPENSES INCURRED TO ATTEND ANNUAL BOARD OF DIRECTOR'S MEETING. THIERRY CONTINI REIMBURSED UNDER AN ACCOUNTABLE PLAN FOR TRAVEL EXPENSES INCURRED TO ATTEND ANNUAL BOARD OF DIRECTOR'S MEETING. DAVID LONBORG REIMBURSED UNDER AN ACCOUNTABLE PLAN FOR TRAVEL EXPENSES INCURRED TO ATTEND ANNUAL BOARD OF DIRECTOR'S MEETING. LAURA FERRARESE REIMBURSED UNDER AN ACCOUNTABLE PLAN FOR TRAVEL EXPENSES INCURRED TO ATTEND ANNUAL BOARD OF DIRECTOR'S MEETING. STEFI BAUM REIMBURSED UNDER AN ACCOUNTABLE PLAN FOR TRAVEL EXPENSES INCURRED TO ATTEND ANNUAL BOARD OF DIRECTOR'S MEETING.