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$PALX
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Company Executives

Management Team

From the 10-K annual report
Officer Age In this role Joined Pay Source
Jeffrey B. Shealy Also a director
Co-Founder, President Chief Executive Officer and director
57 Not stated Not stated Not reported
Jason Tu
Chief Accounting Officer and Treasurer
31 Not stated Not stated Not reported
Richard Ogawa Also a director
Director and Secretary
63 Not stated Not stated Not reported

Each officer opens the passage of the filing that names them. A title that changed since the list comes from the officer's latest Form 3, 4 or 5, and its start year is not stated there. "Not stated" means the filing does not say. Pay is the proxy's Summary Compensation Table, which reports only the named executive officers.

Directors
3
serving now
Independent
1 of 1
stated in the proxy; 2 not stated
Average tenure
Not stated
from year joined
CEO also chairs the board
Not stated
no chair stated
Director Age On board Independent Committees Other public boards Pay Source
Jeffrey B. Shealy
Not stated Not stated Not stated None stated None stated Not stated
Steven P. DenBaars
Not stated Not stated Independent None stated Aeluma Not stated
Richard Ogawa
Not stated Not stated Not stated None stated None stated Not stated

Each director opens the passage of the proxy that names them. "Not stated" means the proxy does not say; it never means "no". Pay is the proxy's Director Compensation table; the CEO is paid as an executive.

24 disclosed in the proxy filed Oct 8, 2026
Jeffrey Shealy, Richard Ogawa and Steven DenBaars
Founding members who are Related Parties; Shealy is Chief Executive Officer and a director, Ogawa and DenBaars are directors
Amount not stated

Provided founding and organizational services without salary or cash compensation, and contributed financing with personal funds in exchange for shares or options, convertible notes or other securities

With Company Open in proxy
Jeffrey Shealy
Chief Executive Officer and a director
Amount not stated
February 2023

Consulting arrangement for technology development, financial planning, marketing, intellectual property and operational management, paid in restricted stock

With Company Open in proxy
Jeffrey Shealy
Chief Executive Officer and a director
Amount not stated
April 2025

Full-time employment agreement with annual base salary of $300,000 and customary employee benefits

With Company Open in proxy
Dalton DenBaars
son of Steven DenBaars, a founder and director of the Company
Annual salary of $90,000
2025

Services on an as-needed basis, then part-time employee at annual salary of $90,000

With Company Open in proxy
Steven DenBaars
Founder and director of the Company
Amount not stated
six months ended June 30, 2026

Consulting services utilized by the Company, with compensation expense recognized

With Company Open in proxy
Erica Honick
wife of Jeffrey Shealy
Amount not stated
2025

Issued 62,500 shares of restricted stock for human resources services, fully vested as of December 31, 2025

With Company Open in proxy
Erica Honick
wife of Jeffrey Shealy
$10,000 per month
2025 and six months ended June 30, 2026

Human resources, talent development, risk management and related consulting services for $10,000 per month, with right to purchase 30,000 shares vesting over four years

With Company Open in proxy
James Shealy
brother of Jeffrey Shealy
Amount not stated
2025

Issued 50,000 restricted shares for semiconductor services, government grant proposals and fundraising, fully vested as of December 31, 2025

With Company Open in proxy
James Shealy
brother of Jeffrey Shealy
Amount not stated
January 2026

Company purchased test equipment from James Shealy

With Company Open in proxy
James Shealy
brother of Jeffrey Shealy
Amount not stated
September 22, 2026

Granted 15,000 restricted stock units under the 2025 Plan for continued advisory services

With Company Open in proxy
Eric Cerini
father-in-law of Jeffrey Shealy
Amount not stated
2025

Received 62,500 restricted shares for semiconductor device management advisory services

With Company Open in proxy
Michael Shealy
brother of Jeffrey Shealy
Amount not stated
2025

Received 50,000 restricted shares for semiconductor management consulting services

With Company Open in proxy
Catherine Sinclair
sister of Jeffrey Shealy
Amount not stated
2025

Received 41,667 restricted shares for advisory services relating to lighting-services applications

With Company Open in proxy
Maggie Nguyen
wife of the Company's Secretary and director
Amount not stated
2025

Issued 41,667 shares of restricted stock for advisory services relating to accounting, finance, payroll and benefits, fully vested as of December 31, 2025

With Company Open in proxy
Maggie Nguyen LLC
Entity associated with Maggie Nguyen, wife of the Company's Secretary and director
$10,000 per month
2025 and six months ended June 30, 2026

Finance, accounting, payroll and benefits consulting services for $10,000 per month, with right to purchase 30,000 shares vesting over four years

With Company Open in proxy
Jeffrey Shealy, Steven DenBaars and Richard Ogawa
Shealy is Chief Executive Officer and director; DenBaars and Ogawa are founders and directors (Ogawa is also Secretary)
Amount not stated
April 2023

Issued SAFEs of $50,000 each to the three individuals in April 2023, aggregate proceeds of $150,000

With Company Open in proxy
Jeffrey Shealy
Chief Executive Officer and a director
Amount not stated

SAFEs converted in the Merger into 833,333 shares of Common Stock and warrants to purchase 833,333 shares at $1.20 per share

With Company Open in proxy
Professor DenBaars and Richard Ogawa
Steven DenBaars and Richard Ogawa are directors; Ogawa is also Secretary
Amount not stated

SAFEs converted in the Merger into 125,000 shares of Common Stock and warrants to purchase 125,000 shares each

With Company Open in proxy
Unidentified founding member
founding member of the Company
Amount not stated
May 2023

Unsecured, non-interest-bearing loan repaid in full during 2025

With Company Open in proxy
Richard Ogawa
Secretary and a director of the Company; director and stockholder of Vega Links prior to the acquisition
Amount not stated
July 31, 2026

Exchanged 300,000 shares of Vega Links Common Stock for 120,000 shares of Company Common Stock in the Vega Links share exchange

With Vega Links, Inc. Open in proxy
Lucius Partners Opportunity Fund, LP
Affiliate of the Company
Principal balance of $275,000
September 2025

Unsecured promissory note assumed in the Unite merger, principal $275,000, bearing 12% interest, repaid in full with accrued interest in October 2025

With Unite Acquisition 3 Corp. Open in proxy
Lucius Partners
Affiliate of the Company
$1,250 per quarter

Unite services agreement under which Unite paid $1,250 per quarter for advisory, accounting and administrative support services; terminated in connection with the merger

With Unite Acquisition 3 Corp. Open in proxy
Unite's former Chief Executive Officer
Former Chief Executive Officer of Unite Acquisition 3 Corp.
Amount not stated
October 2025

Company assumed a $7,000 payable for services rendered prior to the merger, paid in full in October 2025

With Company Open in proxy

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