<SEC-DOCUMENT>0000929638-25-004001.txt : 20251024
<SEC-HEADER>0000929638-25-004001.hdr.sgml : 20251024
<ACCEPTANCE-DATETIME>20251024163018
ACCESSION NUMBER:		0000929638-25-004001
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251024
DATE AS OF CHANGE:		20251024

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARROW ELECTRONICS, INC.
		CENTRAL INDEX KEY:			0000007536
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				111806155
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-30198
		FILM NUMBER:		251416547

	BUSINESS ADDRESS:	
		STREET 1:		9151 EAST PANORAMA CIRCLE
		CITY:			CENTENNIAL
		STATE:			CO
		ZIP:			80112
		BUSINESS PHONE:		303-824-4000

	MAIL ADDRESS:	
		STREET 1:		9151 EAST PANORAMA CIRCLE
		CITY:			CENTENNIAL
		STATE:			CO
		ZIP:			80112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARROW ELECTRONICS, INC
		DATE OF NAME CHANGE:	20221117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARROW ELECTRONICS INC
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACR Alpine Capital Research, LLC
		CENTRAL INDEX KEY:			0001508822
		ORGANIZATION NAME:           	
		EIN:				814872049
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		190 CARONDELET PLAZA
		STREET 2:		SUITE 1300
		CITY:			ST. LOUIS
		STATE:			MO
		ZIP:			63105
		BUSINESS PHONE:		314-932-1010

	MAIL ADDRESS:	
		STREET 1:		190 CARONDELET PLAZA
		STREET 2:		SUITE 1300
		CITY:			ST. LOUIS
		STATE:			MO
		ZIP:			63105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Alpine Investment Management, LLC
		DATE OF NAME CHANGE:	20101227
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<securitiesClassTitle>Common Stock, $1 par value</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>10/17/2025</eventDateRequiresFilingThisStatement>
<issuerInfo>
<issuerCik>0000007536</issuerCik>
<issuerName>ARROW ELECTRONICS, INC.</issuerName>
<issuerCusip>042735100</issuerCusip>
<issuerPrincipalExecutiveOfficeAddress>
<com:street1>9151 East Panorama Circle</com:street1>
<com:city>Centennial</com:city>
<com:stateOrCountry>CO</com:stateOrCountry>
<com:zipCode>80112</com:zipCode>
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<designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
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<reportingPersonName>ACR Alpine Capital Research, LLC</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
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<sharedVotingPower>2633060</sharedVotingPower>
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<reportingPersonName>ACR Opportunity, L.P.</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>10400</sharedVotingPower>
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<sharedDispositivePower>10400</sharedDispositivePower>
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<reportingPersonName>ALPINE PARTNERS MANAGEMENT, LLC</reportingPersonName>
<citizenshipOrOrganization>MO</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>10400</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>10400</sharedDispositivePower>
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<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>10400</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>Y</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0</classPercent>
<typeOfReportingPerson>HC</typeOfReportingPerson>
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<coverPageHeaderReportingPersonDetails>

<reportingPersonName>ACR Opportunity Fund</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>13000</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>13000</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>13000</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>Y</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0</classPercent>
<typeOfReportingPerson>IV</typeOfReportingPerson>
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<coverPageHeaderReportingPersonDetails>

<reportingPersonName>ACR Equity International Fund</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>41465</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>41465</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>41465</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>Y</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0.1</classPercent>
<typeOfReportingPerson>IV</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>ALPINE PRIVATE CAPITAL, LLC</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>323313</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>323313</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>323313</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>Y</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0.6</classPercent>
<typeOfReportingPerson>IA</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>ACR ALPINE CAPITAL RESEARCH, LP</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>2633060</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>2633060</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2633060</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>5.1</classPercent>
<typeOfReportingPerson>PN</typeOfReportingPerson>
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<coverPageHeaderReportingPersonDetails>

<reportingPersonName>ACR Alpine Capital GP, LLC</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>2633060</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>2633060</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2633060</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>5.1</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
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<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Alpine Investment Management, LLC</reportingPersonName>
<citizenshipOrOrganization>MO</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>2633060</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>2633060</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2633060</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>5.1</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
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<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Alpine Holdings Corp</reportingPersonName>
<citizenshipOrOrganization>MO</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>2633060</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>2633060</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2633060</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>5.1</classPercent>
<typeOfReportingPerson>CO</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Nicholas V. Tompras Living Trust 9/23/03, as amended</reportingPersonName>
<citizenshipOrOrganization>MO</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>2633060</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>2633060</sharedDispositivePower>
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<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2633060</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>5.1</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Tompras Nicholas V.</reportingPersonName>
<citizenshipOrOrganization>X1</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>2633060</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>2633060</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2633060</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>5.1</classPercent>
<typeOfReportingPerson>IN</typeOfReportingPerson>
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<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Tompras Jennifer O.</reportingPersonName>
<citizenshipOrOrganization>X1</citizenshipOrOrganization>
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<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>2633060</sharedVotingPower>
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<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>5.1</classPercent>
<typeOfReportingPerson>IN</typeOfReportingPerson>
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<items>
<item1>
<issuerName>ARROW ELECTRONICS, INC.</issuerName>
<issuerPrincipalExecutiveOfficeAddress>9151 East Panorama Circle, Centennial, Colorado, 80112</issuerPrincipalExecutiveOfficeAddress>
</item1>
<item2>
<filingPersonName>This statement is filed by (i) ACR Opportunity, L.P. ("ACROPP"); (ii) Alpine Partners Management, LLC ("APM"); (iii) ACR Opportunity Fund ("ACROX"); (iv) ACR Equity International Fund ("ACREX"); (v) Alpine Private Capital, LLC ("APC"); (vi) ACR Alpine Capital Research, LLC ("ACR"); (vii) ACR Alpine Capital Research, LP ("ACRLP"); (viii) ACR Alpine Capital GP, LLC ("ACRGP"); (ix) Alpine Investment Management, LLC ("AIM"); (x) Alpine Holdings Corporation ("AHC"); (xi) Nicholas V. Tompras Living Trust 9/23/03, as amended (the "Living Trust"); (xii) Nicholas V. Tompras; and (xiii) Jennifer O. Tompras. The foregoing are collectively referred to herein as the "Reporting Persons."&#13;
&#13;
ACROPP, ACROX, ACREX, accounts separately managed by APC (the "APC Accounts"), and accounts separately managed by ACR (the "Separately Managed Accounts") each hold securities of the Issuer.&#13;
&#13;
APM is the general partner of ACROPP. ACR serves as the investment manager of ACROPP, ACROX, ACREX and the Separately Managed Accounts, and has investment discretion over the APC Accounts delegated by APC. ACRLP is the sole member of ACR. ACRGP is the general partner of ACRLP. AIM is the sole member of ACRGP. AHC is the sole member of AIM. The Living Trust holds all of the voting capital stock of AHC. Nicholas V. Tompras and Jennifer O. Tompras are each a trustee of the Living Trust.</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>The principal business address of each of the Reporting Persons is 190 Carondelet Plaza, Suite 1300, Saint Louis, Missouri 63105.</principalBusinessOfficeOrResidenceAddress>
<citizenship>Each of ACROPP and ACRLP is a Delaware limited partnership. Each of APM and AIM is a Missouri limited liability company. Each of ACROX and ACREX is a Delaware statutory trust. Each of APC, ACR, and ACRGP is a Delaware limited liability company. AHC is a Missouri corporation. The Living Trust is formed under the laws of the State of Missouri. Nicholas V. Tompras and Jennifer O. Tompras are citizens of the United States of America.</citizenship>
</item2>
<item3>
<notApplicableFlag>Y</notApplicableFlag>
</item3>
<item4>
<amountBeneficiallyOwned>ACROPP  10,400&#13;
APM        10,400&#13;
ACROX    13,000&#13;
ACREX    41,465&#13;
APC        323,313&#13;
ACR        2,633,060&#13;
ACRLP    2,633,060&#13;
ACRGP    2,633,060&#13;
AIM        2,633,060&#13;
AHC        2,633,060&#13;
The Living Trust     2,633,060&#13;
Nicholas V. Tompras     2,633,060&#13;
Jennifer O. Tompras     2,633,060&#13;
&#13;
ACROPP, APM, ACROX, ACREX, APC, and ACR each disclaims beneficial ownership of all Common Stock included in this report other than the Common Stock held of record by such Reporting Person, and the filing of this report shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose.  ACRLP, ACRGP, AIM, AHC, the Living Trust, and Mr. and Mrs. Tompras each disclaims beneficial ownership of all Common Stock included in this report, and the filing of this report shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities for purposes of Section 13(d) or 13(g) of the Exchange Act, or for any other purpose.</amountBeneficiallyOwned>
<classPercent>ACROPP   0.0%&#13;
APM      0.0%&#13;
ACROX    0.0%&#13;
ACREX    0.1%&#13;
APC      0.6%&#13;
ACR      5.1%&#13;
ACRLP    5.1%&#13;
ACRGP    5.1%&#13;
AIM      5.1%&#13;
AHC      5.1%&#13;
The Living Trust         5.1%&#13;
Nicholas V. Tompras      5.1%&#13;
Jennifer O. Tompras      5.1%&#13;
The percentages are based on 51,501,705 Common Stock outstanding as of July 24, 2025, as disclosed in the Issuer's Quarterly Report on Form 10-Q filed on July 31, 2025.</classPercent>
<numberOfSharesPersonHas>
<solePowerOrDirectToVote>0 for all Reporting Persons</solePowerOrDirectToVote>
<sharedPowerOrDirectToVote>ACROPP     	10,400&#13;
APM     		10,400&#13;
ACROX     	13,000&#13;
ACREX     	41,465&#13;
APC     	323,313&#13;
ACR     	2,633,060&#13;
ACRLP     	2,633,060&#13;
ACRGP     	2,633,060&#13;
AIM     	2,633,060&#13;
AHC     	2,633,060&#13;
The Living Trust     		2,633,060&#13;
Nicholas V. Tompras     	2,633,060&#13;
Jennifer O. Tompras     	2,633,060</sharedPowerOrDirectToVote>
<solePowerOrDirectToDispose>0 for all Reporting Persons</solePowerOrDirectToDispose>
<sharedPowerOrDirectToDispose>ACROPP     	10,400&#13;
APM     	10,400&#13;
ACROX     	13,000&#13;
ACREX     	41,465&#13;
APC     	323,313&#13;
ACR     	2,633,060&#13;
ACRLP     	2,633,060&#13;
ACRGP     	2,633,060&#13;
AIM     	2,633,060&#13;
AHC     	2,633,060&#13;
The Living Trust     		2,633,060&#13;
Nicholas V. Tompras     	2,633,060&#13;
Jennifer O. Tompras     	2,633,060</sharedPowerOrDirectToDispose>
</numberOfSharesPersonHas>
</item4>
<item5>
<notApplicableFlag>Y</notApplicableFlag>
</item5>
<item6>
<notApplicableFlag>N</notApplicableFlag>
<ownershipMoreThan5PercentOnBehalfOfAnotherPerson>The APC Accounts and Separately Managed Accounts described above in Item 2 have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, securities held in their respective accounts. To the knowledge of the Reporting Persons, the interest in any such account does not exceed 5% of the class of securities. Except to the extent described herein, the Reporting Persons disclaim beneficial ownership of all such securities.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
</item6>
<item7>
<notApplicableFlag>Y</notApplicableFlag>
</item7>
<item8>
<notApplicableFlag>Y</notApplicableFlag>
</item8>
<item9>
<notApplicableFlag>Y</notApplicableFlag>
</item9>
<item10>
<notApplicableFlag>N</notApplicableFlag>
<certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
</item10>
</items>
<exhibitInfo>Joint Filing Agreement</exhibitInfo>
<signatureInformation>
<reportingPersonName>ACR Alpine Capital Research, LLC</reportingPersonName>
<signatureDetails>
<signature>/s/ Nicholas V. Tompras</signature>
<title>Nicholas V. Tompras/Chief Executive Officer</title>
<date>10/24/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>ACR Opportunity, L.P.</reportingPersonName>
<signatureDetails>
<signature>Alpine Partners Management, LLC</signature>
<title>General Partner</title>
<date>10/24/2025</date>
</signatureDetails>
<signatureDetails>
<signature>/s/ Nicholas V. Tompras</signature>
<title>Nicholas V. Tompras/Chief Executive Officer</title>
<date>10/24/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>ALPINE PARTNERS MANAGEMENT, LLC</reportingPersonName>
<signatureDetails>
<signature>/s/ Nicholas V. Tompras</signature>
<title>Nicholas V. Tompras/Chief Executive Officer</title>
<date>10/24/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>ACR Opportunity Fund</reportingPersonName>
<signatureDetails>
<signature>ACR Alpine Capital Research, LLC</signature>
<title>Investment Manager</title>
<date>10/24/2025</date>
</signatureDetails>
<signatureDetails>
<signature>/s/ Nicholas V. Tompras</signature>
<title>Nicholas V. Tompras/Chief Executive Officer</title>
<date>10/24/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>ACR Equity International Fund</reportingPersonName>
<signatureDetails>
<signature>ACR Alpine Capital Research</signature>
<title>Investment Manager</title>
<date>10/24/2025</date>
</signatureDetails>
<signatureDetails>
<signature>/s/ Nicholas V. Tompras</signature>
<title>Nicholas V. Tompras/Chief Executive Officer</title>
<date>10/24/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>ALPINE PRIVATE CAPITAL, LLC</reportingPersonName>
<signatureDetails>
<signature>Alpine Investment Management, LLC</signature>
<title>Majority Owner</title>
<date>10/24/2025</date>
</signatureDetails>
<signatureDetails>
<signature>/s/ Nicholas V. Tompras</signature>
<title>Nicholas V. Tompras/President</title>
<date>10/24/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>ACR ALPINE CAPITAL RESEARCH, LP</reportingPersonName>
<signatureDetails>
<signature>/s/ Nicholas V. Tompras</signature>
<title>Nicholas V. Tompras/Chief Executive Officer</title>
<date>10/24/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>ACR Alpine Capital GP, LLC</reportingPersonName>
<signatureDetails>
<signature>/s/ Nicholas V. Tompras</signature>
<title>Nicholas V. Tompras/President</title>
<date>10/24/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Alpine Investment Management, LLC</reportingPersonName>
<signatureDetails>
<signature>/s/ Nicholas V. Tompras</signature>
<title>Nicholas V. Tompras/President</title>
<date>10/24/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Alpine Holdings Corp</reportingPersonName>
<signatureDetails>
<signature>/s/ Nicholas V. Tompras</signature>
<title>Nicholas V. Tompras/President</title>
<date>10/24/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Nicholas V. Tompras Living Trust 9/23/03, as amended</reportingPersonName>
<signatureDetails>
<signature>/s/ Nicholas V. Tompras</signature>
<title>Nicholas V. Tompras/Trustee</title>
<date>10/24/2025</date>
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<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>JOINT FILING AGREEMENT
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    <div style="text-align: right; font-weight: bold;">EXHIBIT 1</div>
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  <div><font style="font-family: 'Times New Roman',Times,serif;"><br>
    </font>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">JOINT FILING AGREEMENT</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">ARROW ELECTRONICS, INC.</div>
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    <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby confirm the
      agreement by and among them to the joint filing on behalf of them of the Statement on Schedule 13G and any and all further amendments thereto, with respect to the securities of the above referenced issuer, and that this Agreement be included as an
      Exhibit to such filing. This Agreement may be executed in any number of counterparts each of which shall be deemed to be an original and all of which together shall be deemed to constitute one and the same Agreement.</div>
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    <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of October 24, 2025.</div>
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            <div style="font-weight: bold;">ACR OPPORTUNITY, L.P.</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>By:&#160;&#160;&#160;</div>
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            <div>Alpine Partners Management, LLC</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>its general partner</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>By:</div>
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            <div>/s/ Nicholas V. Tompras</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>Name:&#160;&#160;</div>
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            <div>Nicholas V. Tompras</div>
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          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>Title:</div>
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            <div>Chief Executive Officer</div>
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          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div style="font-weight: bold;">ALPINE PARTNERS MANAGEMENT, LLC</div>
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          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>By:</div>
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          <td colspan="2" style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>/s/ Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Name:&#160;&#160; <br>
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          <td colspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Title:</div>
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            <div>Chief Executive Officer</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div style="font-weight: bold;">ACR OPPORTUNITY FUND</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>By:</div>
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            <div>ACR Alpine Capital Research, LLC</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>its investment manager</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>By:</div>
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          <td style="width: 18%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>/s/ Nicholas V. Tompras</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>Name:</div>
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            <div>Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>Title:</div>
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            <div>Chief Executive Officer</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div style="font-weight: bold;">ACR EQUITY INTERNATIONAL FUND</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>By:</div>
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            <div>ACR Alpine Capital Research, LLC</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td colspan="2" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>its investment manager</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>By:</div>
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            <div>/s/ Nicholas V. Tompras</div>
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            <div>Name:</div>
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            <div>Nicholas V. Tompras</div>
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            <div>Chief Executive Officer</div>
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          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>By:</div>
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            <div>Alpine Investment Management, LLC</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td colspan="2" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>its majority owner</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>By:</div>
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          <td style="width: 18%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>/s/ Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Name:</div>
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          <td style="width: 18%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Title:</div>
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          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>President</div>
          </td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td rowspan="1" colspan="4" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>By:</div>
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          <td colspan="2" style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>/s/ Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Name:</div>
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          <td colspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Title:</div>
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          <td colspan="2" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Chief Executive Officer</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td rowspan="1" colspan="4" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="font-weight: bold;">ACR ALPINE CAPITAL RESEARCH, LP</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>By:</div>
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          <td colspan="2" style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>/s/ Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Name:</div>
          </td>
          <td colspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Title:</div>
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          <td colspan="2" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Chief Executive Officer</div>
          </td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td colspan="3" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="font-weight: bold;">ACR ALPINE CAPITAL GP, LLC</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>By:</div>
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          <td colspan="2" style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>/s/ Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Name:</div>
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          <td colspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Title:</div>
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          <td colspan="2" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>President</div>
          </td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td rowspan="1" colspan="4" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="font-weight: bold;">ALPINE INVESTMENT MANAGEMENT, LLC</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>By:</div>
          </td>
          <td colspan="2" style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>/s/ Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Name:</div>
          </td>
          <td colspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Title:</div>
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          <td colspan="2" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>President</div>
          </td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td colspan="3" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
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          <td colspan="2" style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Name:</div>
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          <td colspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
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          <td colspan="2" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>President</div>
          </td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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        <tr>
          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td rowspan="1" colspan="4" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="font-weight: bold;">NICHOLAS V. TOMPRAS LIVING TRUST 9/23/03 AS AMENDED</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
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          <td colspan="2" style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>/s/ Nicholas V. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>Nicholas V. Tompras</div>
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            <div>Title:</div>
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            <div>Trustee</div>
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          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div style="font-weight: bold;">NICHOLAS V. TOMPRAS</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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            <div>/s/ Nicholas V. Tompras</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td colspan="3" style="vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div style="font-weight: bold;">JENNIFER O. TOMPRAS</div>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td colspan="3" style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
            <div>/s/ Jennifer O. Tompras</div>
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          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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          <td style="width: 50%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 18%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">&#160;</td>
          <td style="width: 28%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">&#160;</td>
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