<SEC-DOCUMENT>0001193125-20-088963.txt : 20200327
<SEC-HEADER>0001193125-20-088963.hdr.sgml : 20200327
<ACCEPTANCE-DATETIME>20200327172359
ACCESSION NUMBER:		0001193125-20-088963
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200327
DATE AS OF CHANGE:		20200327
EFFECTIVENESS DATE:		20200327

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TREX CO INC
		CENTRAL INDEX KEY:			0001069878
		STANDARD INDUSTRIAL CLASSIFICATION:	LUMBER & WOOD PRODUCTS (NO FURNITURE) [2400]
		IRS NUMBER:				541910453
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14649
		FILM NUMBER:		20752996

	BUSINESS ADDRESS:	
		STREET 1:		160 EXETER DRIVE
		CITY:			WINCHESTER
		STATE:			VA
		ZIP:			22603-8605
		BUSINESS PHONE:		5405426300

	MAIL ADDRESS:	
		STREET 1:		160 EXETER DRIVE
		CITY:			WINCHESTER
		STATE:			VA
		ZIP:			22603-8605
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d882574ddefa14a.htm
<DESCRIPTION>DEFA14A
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>(Rule <FONT
STYLE="white-space:nowrap">14a-101)</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION REQUIRED IN PROXY STATEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A INFORMATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of the </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>(Amendment No. __) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">Filed by the
Registrant &nbsp;&nbsp;&nbsp;&nbsp;&#9745; </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">Filed by a Party other than the Registrant &#9744; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">&#9744; Preliminary Proxy Statement
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">&#9744; Confidential, For Use of the Commission Only (as permitted by Rule <FONT STYLE="white-space:nowrap">14a-6(e)(2))</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">&#9744; Definitive Proxy Statement </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">&#9745; Definitive Additional
Materials </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">&#9744; Soliciting Material Pursuant to &#167; <FONT STYLE="white-space:nowrap">240.14a-12</FONT> </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Trex Company, Inc. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">(Name of
Registrant as Specified In Its Charter) </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">Payment of Filing Fee (Check the appropriate box): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">&#9745; No
fee required. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">&#9744; Fee computed on table below per Exchange Act Rules <FONT STYLE="white-space:nowrap">14a-6(i)(1)</FONT> and <FONT
STYLE="white-space:nowrap">0-11</FONT> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:5%; font-size:11pt; font-family:Times New Roman">(1) &nbsp;&nbsp;Title of each class of securities to which transaction applies: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:5%; font-size:11pt; font-family:Times New Roman">(2) &nbsp;&nbsp;Aggregate number of securities to which transaction applies: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman; " ALIGN="left">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule <FONT
STYLE="white-space:nowrap">0-11</FONT> (set forth the amount on which the filing fee is calculated and how it was determined): </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:5%; font-size:11pt; font-family:Times New Roman">(4) &nbsp;&nbsp;Proposed maximum
aggregate value of transaction: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:5%; font-size:11pt; font-family:Times New Roman">(5) &nbsp;&nbsp;Total fee paid: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">&#9744; Fee paid previously with preliminary materials. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">&#9744; Check box if any part of the fee is offset as
provided by Exchange Act Rule <FONT STYLE="white-space:nowrap">0-11(a)(2)</FONT> and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the
date of its filing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:5%; font-size:11pt; font-family:Times New Roman">(1) Amount Previously Paid: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:5%; font-size:11pt; font-family:Times New Roman">(2) Form, Schedule or Registration
Statement No.: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:5%; font-size:11pt; font-family:Times New Roman">(3) Filing Party: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:5%; font-size:11pt; font-family:Times New Roman">(4) Date Filed: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:24pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Trex Company, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">160 Exeter Drive </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">Winchester,
Virginia 22603-8605 </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>SUPPLEMENT TO PROXY STATEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>FOR </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center"><B>THE 2020 ANNUAL
MEETING OF STOCKHOLDERS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman" ALIGN="center">To Be Held On Wednesday, April&nbsp;29, 2020 </P>
<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">This supplement, dated March&nbsp;27, 2020 (this &#147;<U>Supplement</U>&#148;), supplements the definitive proxy statement (the &#147;<U>Proxy
Statement</U>&#148;) filed by Trex Company, Inc. (the &#147;<U>Company</U>&#148;) with the U.S. Securities and Exchange Commission (the &#147;<U>SEC</U>&#148;) on March&nbsp;17, 2020 and made available to the Company&#146;s stockholders in
connection with the solicitation of proxies by the Board of Directors of the Company (the &#147;<U>Board</U>&#148;) for the 2020 Annual Meeting of Stockholders (the &#147;<U>Annual Meeting</U>&#148;), scheduled to be held on Wednesday,
April&nbsp;29, 2020, at 9:00 a.m. Eastern Time. This Supplement is being filed with the SEC and made available to stockholders on or about March&nbsp;27, 2020. Stockholders of record at the close of business on March&nbsp;2, 2020 are entitled to
vote at the Annual Meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">The Company mailed the Proxy Statement to stockholders on or about March&nbsp;17, 2020. The Proxy Statement included a table
on Page 5 that summarized the standard of voting that applies to each of the Company&#146;s four (4)&nbsp;proposals presented to stockholders for the Annual Meeting (the &#147;<U>Voting Standards Information</U>&#148;). Subsequent to the date the
Proxy Statement was made available to stockholders, the Company determined that it would be helpful to update the Voting Standards Information to provide additional clarity concerning the voting standards that apply to each proposal. Accordingly,
the table set forth below updates, and restates for convenience of reference, the Voting Standards Information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">The following vote shall be required for
approval of each of the following matters: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD BGCOLOR="#000000" VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8pt"><B><font color="#FFFFFF">Voting Matter</font></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
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<TD BGCOLOR="#000000" VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD BGCOLOR="#000000" VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"><B><font color="#FFFFFF">Standard Required</font></B></TD> </TR>
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<TD BGCOLOR="#e6e6e6" VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Election&nbsp;of&nbsp;four&nbsp;directors</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">(<B>PROPOSAL 1</B>).</P></TD>
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<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD BGCOLOR="#e6e6e6" VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B><I>Majority</I></B>, which means nominees for the Board of Directors will be elected if more votes are cast in favor of a nominee then are
cast against such nominee by the holders of shares present in person or represented by proxy and entitled to vote at the Annual Meeting. As this proposal is considered a <FONT STYLE="white-space:nowrap">&#147;non-routine&#148;</FONT> matter, brokers
may vote their shares on the election of directors only if they have voting instructions from the beneficial owners of the shares. In the event a nominee does not receive a majority of the votes cast on such nominee&#146;s election, our Bylaws
provide that the nominee must immediately submit a written offer of resignation to the Board. Within 60 days after the certification of the election results, the Nominating/Corporate Governance Committee will consider the director&#146;s offer of
resignation and recommend to the Board whether to accept the resignation or reject it. The Board will act on such recommendation within 90 days following receipt of the certification of the election results. If a director&#146;s resignation is not
accepted by the Board, then the director who tendered that resignation will continue to serve on the Board until the 2021 Annual Meeting of Stockholders and until his or her successor is elected and qualified, or until his or her earlier death,
resignation or removal. This majority voting standard is different than both of the majority voting standards below in that the majority standard for the election of directors only requires that each nominee receive more votes for than against such
nominee.</TD></TR>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Non-binding&nbsp;advisory&nbsp;vote&nbsp;on</FONT> executive compensation <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">(&#147;say-on-pay&#148;)</FONT></FONT> (<B>PROPOSAL&nbsp;2</B>);</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Ratification of the appointment of Ernst&nbsp;&amp; Young LLP as our independent registered public accounting firm for the 2020 fiscal year
(<B>PROPOSAL&nbsp;4</B>).</P></TD>
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<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B><I>Majority</I></B> of the shares of common stock present in person or represented by proxy and entitled to vote on the matter at the Annual Meeting.
Abstentions from voting on these proposals will have the same effect as a vote AGAINST these proposals. Brokers may vote their shares on the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">say-on-pay</FONT></FONT> proposal only if
they have voting instructions from the beneficial owners of the shares, and in the case of ratification of the appointment of the Company&#146;s independent registered public accounting firm, brokers may vote their shares on this proposal even if
they have not received instructions (ratification of the appointment of the independent registered public accounting firm is considered a &#147;routine&#148; matter for which a broker may exercise discretionary voting power). With respect to
Proposal 4, as this proposal is considered a &#147;routine&#148; matter, we do not expect any &#147;broker <FONT STYLE="white-space:nowrap">non-votes&#148;</FONT> in connection therewith. With respect to Proposal 2, as this proposal is considered a <FONT
STYLE="white-space:nowrap">&#147;non-routine&#148;</FONT> matter, broker <FONT STYLE="white-space:nowrap">non-votes</FONT> will not be treated as votes cast on this matter, and therefore will not have any effect on determining the outcome. As
opposed to the absolute majority voting standard for the approval of the Fourth Certificate of Amendment below, these matters only require the vote of a majority of the shares of stockholders who are present at the meeting or who have voted by
proxy.</TD></TR>
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<TD BGCOLOR="#e6e6e6" VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">Approval&nbsp;of&nbsp;the&nbsp;Fourth&nbsp;Certificate&nbsp;of Amendment to the Trex Company, Inc. Restated Certificate of Incorporation to
increase the number of authorized shares of common stock, $0.01 par value per share, from 120,000,000 to 180,000,000 (<B>PROPOSAL 3</B>).</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
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<TD BGCOLOR="#e6e6e6" VALIGN="top" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B><I>Majority</I></B> of the shares of common stock issued and outstanding. As opposed to the majority standard for the <FONT
STYLE="white-space:nowrap">non-binding</FONT> advisory vote above, this is an absolute majority standard. This means that to pass, the matter will need at least 29,103,262 votes cast in favor of (i.e., FOR) the matter. Abstentions and broker <FONT
STYLE="white-space:nowrap">non-votes</FONT> will have the same effect as a vote AGAINST this proposal. Note that this proposal is considered a &#147;routine&#148; matter for which your broker may exercise discretionary voting power. That is, if you
do not instruct your broker on how to vote your shares on this proposal, then such broker will be permitted to vote your shares in its discretion. You can avoid having your broker vote your shares by providing such broker with your specific voting
instructions. As this proposal is considered a &#147;routine&#148; matter, we do not expect any &#147;broker <FONT STYLE="white-space:nowrap">non-votes&#148;</FONT> in connection therewith.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">Except as described in this Supplement, none of the items or information presented in the Proxy Statement is affected by this
Supplement. However, to the extent that information in this Supplement differs from or updates information contained in the Proxy Statement, the information contained herein supersedes such information contained in the Proxy Statement. This
Supplement does not provide all of the information that is important to your voting decisions at the Annual Meeting. The Proxy Statement contains other important additional information. Accordingly, we encourage you to carefully read this Supplement
together with the Proxy Statement. From and after the date of this Supplement, any and all references to the &#147;Proxy Statement&#148; are to the Proxy Statement as supplemented hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:Times New Roman">Whether or not you plan to attend the Annual Meeting, we encourage you to read the Proxy Statement, as supplemented hereby, and submit your proxy or voting
instructions as soon as possible. If you have already returned your Proxy Card or provided voting instructions to your broker, you do not need to take any action unless you wish to change your vote. </P>
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