<SEC-DOCUMENT>0001140361-25-006948.txt : 20250304
<SEC-HEADER>0001140361-25-006948.hdr.sgml : 20250304
<ACCEPTANCE-DATETIME>20250304163031
ACCESSION NUMBER:		0001140361-25-006948
CONFORMED SUBMISSION TYPE:	NT 10-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20241231
FILED AS OF DATE:		20250304
DATE AS OF CHANGE:		20250304
EFFECTIVENESS DATE:		20250304

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FTAI Infrastructure Inc.
		CENTRAL INDEX KEY:			0001899883
		STANDARD INDUSTRIAL CLASSIFICATION:	RAILROADS, LINE-HAUL OPERATING [4011]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NT 10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41370
		FILM NUMBER:		25705144

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		(212) 798-6100

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FTAI Infrastructure LLC
		DATE OF NAME CHANGE:	20211216
</SEC-HEADER>
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    <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 12b-25</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">NOTIFICATION OF LATE FILING</div>
    <div> <br>
    </div>
    <div style="text-align: right;">Commission File Number <font style="font-weight: bold;">001-41370</font></div>
    <div> <br>
    </div>
    <div style="text-align: right;">CUSIP Number <font style="font-weight: bold;">35953C106</font></div>
    <div><br>
    </div>
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            <div style="text-indent: -7.2pt; margin-left: 7.2pt; font-style: italic;">(Check one):</div>
          </td>
          <td style="width: 2.22%; vertical-align: top;">
            <div style="text-align: center;">&#9746;</div>
          </td>
          <td nowrap="nowrap" style="width: 13%; vertical-align: bottom;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Form 10-K</div>
          </td>
          <td style="width: 2.22%; vertical-align: top;">
            <div style="text-align: center;">&#9744;</div>
          </td>
          <td nowrap="nowrap" style="width: 12%; vertical-align: bottom;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Form 20-F</div>
          </td>
          <td style="width: 2.22%; vertical-align: top;">
            <div style="text-align: center;">&#9744;</div>
          </td>
          <td nowrap="nowrap" style="width: 12%; vertical-align: bottom;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Form 11-K</div>
          </td>
          <td style="width: 2.22%; vertical-align: top;">
            <div style="text-align: center;">&#9744;</div>
          </td>
          <td nowrap="nowrap" style="width: 12%; vertical-align: bottom;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Form 10-Q</div>
          </td>
          <td style="width: 2.22%; vertical-align: top; text-align: center;">&#9744;</td>
          <td nowrap="nowrap" style="width: 12%; vertical-align: bottom;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Form 10-D</div>
          </td>
          <td style="width: 2.22%; vertical-align: top;">
            <div style="text-align: center;">&#9744;</div>
          </td>
          <td nowrap="nowrap" style="width: 13%; vertical-align: bottom;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Form N-CEN</div>
          </td>
        </tr>
        <tr>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 2.22%; vertical-align: top;">
            <div style="text-align: center;">&#9744;</div>
          </td>
          <td nowrap="nowrap" style="width: 13%; vertical-align: bottom;">
            <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Form N-CSR</div>
          </td>
          <td style="width: 2.22%; vertical-align: top;">&#160;</td>
          <td style="width: 12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.22%; vertical-align: top;">&#160;</td>
          <td style="width: 12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.22%; vertical-align: top;">&#160;</td>
          <td style="width: 12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.22%; vertical-align: top;">&#160;</td>
          <td style="width: 12%; vertical-align: top;">&#160;</td>
          <td style="width: 2.22%; vertical-align: top;">&#160;</td>
          <td style="width: 13%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
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        <tr>
          <td style="width: 1.6%; vertical-align: top;">&#160;</td>
          <td nowrap="nowrap" style="width: 48%; vertical-align: top;">
            <div>For Period Ended:</div>
          </td>
          <td style="width: 48%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>December 31, 2024</div>
          </td>
          <td style="width: 1.59%; vertical-align: top;">&#160;</td>
        </tr>

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    <div>
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            <td style="width: 1.77%; vertical-align: top;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div>&#9744;</div>
            </td>
            <td style="width: 93%; vertical-align: top;">
              <div>Transition Report on Form 10-K</div>
            </td>
          </tr>
          <tr>
            <td style="width: 1.77%; vertical-align: top;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div>&#9744;</div>
            </td>
            <td style="width: 93%; vertical-align: top;">
              <div style="text-align: justify;">Transition Report on Form 20-F</div>
            </td>
          </tr>
          <tr>
            <td style="width: 1.77%; vertical-align: top;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div>&#9744;</div>
            </td>
            <td style="width: 93%; vertical-align: top;">
              <div>Transition Report on Form 11-K</div>
            </td>
          </tr>
          <tr>
            <td style="width: 1.77%; vertical-align: top;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%; vertical-align: top;">
              <div>&#9744;</div>
            </td>
            <td style="width: 93%; vertical-align: top;">
              <div>Transition Report on Form 10-Q</div>
            </td>
          </tr>

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    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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            <div style="color: rgb(34, 31, 31);"><br>
            </div>
          </td>
          <td rowspan="1" style="width: 96%; vertical-align: top;">For the Transition Period Ended:&#160;</td>
          <td style="width: 1.83%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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    <div><br>
    </div>
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          <td style="width: 100%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 2.9pt; margin-left: 2.85pt; font-style: italic;">Read Instruction (on back page) Before Preparing Form. Please Print or Type.</div>
            <div style="text-align: center; margin-right: 3.25pt; margin-left: 2.85pt; font-weight: bold;">Nothing in this Form shall be construed to imply that the Commission has veri&#64257;ed any information </div>
            <div style="text-align: center; margin-right: 3.25pt; margin-left: 2.85pt; font-weight: bold;">contained herein.</div>
          </td>
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    <div><br>
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          <td style="width: 100%; vertical-align: top;">
            <div>If the noti&#64257;cation relates to a portion of the &#64257;ling checked above, identify the Item(s) to which the noti&#64257;cation relates:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="font-weight: bold;">PART I - REGISTRANT INFORMATION</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 24pt;">
            <div style="font-weight: bold;">FTAI Infrastructure Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div>Full Name of Registrant</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div>Former Name if Applicable</div>
          </td>
        </tr>
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          <td style="width: 100%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">1345 Avenue of the Americas, 45th Floor</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div>Address of Principal Executive Office (Street and Number)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">New York, New York 10105</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div>City, State and Zip Code</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div>
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
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    <div style="font-weight: bold;">PART II - RULES 12b-25(b) AND (c)</div>
    <div> <br>
    </div>
    <div>If the subject report could not be &#64257;led without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)</div>
    <div> <br>
    </div>
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            <div style="text-align: center;">&#9746;</div>
          </td>
          <td style="width: 3.72%; vertical-align: top; text-align: center;">
            <div>(a)</div>
          </td>
          <td style="width: 94.29%; vertical-align: top;">
            <div>The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.72%; vertical-align: top; text-align: center;">
            <div>(b)</div>
          </td>
          <td style="width: 94.29%; vertical-align: top;">
            <div>The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be &#64257;led on or before the &#64257;fteenth calendar day following the prescribed due date; or
              the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be &#64257;led on or before the &#64257;fth calendar day following the prescribed due date; and</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3.72%; vertical-align: top; text-align: center;">
            <div>(c)</div>
          </td>
          <td style="width: 94.29%; vertical-align: top;">
            <div>The accountant&#8217;s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
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    <div style="font-weight: bold;">PART III - NARRATIVE</div>
    <div> <br>
    </div>
    <div>State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be &#64257;led within the prescribed time period.</div>
    <div> <br>
    </div>
    <div>FTAI Infrastructure Inc. (the &#8220;Company&#8221;) is working diligently and plans to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the &#8220;Annual Report&#8221;) as soon as practicable. The Company requires additional time to
      complete its financial statements preparation and review process, and has determined that it is unable, without unreasonable effort or expense, to file its Annual Report within the prescribed time period. The Company does not anticipate any material
      changes to the financial information furnished with the Form 8-K filed by the Company with the Securities and Exchange Commission on February 27, 2025.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">PART IV - OTHER INFORMATION</div>
    <div> <br>
    </div>
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        <tr>
          <td style="width: 3.63%; vertical-align: top;">
            <div>(1)</div>
          </td>
          <td style="width: 96.37%; vertical-align: top;">
            <div>Name and telephone number of person to contact in regard to this noti&#64257;cation</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
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        <tr>
          <td style="width: 38.35%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Kenneth J. Nicholson</div>
          </td>
          <td style="width: 1.11%; vertical-align: top;">&#160;</td>
          <td style="width: 22.06%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">(212)</div>
          </td>
          <td style="width: 1.11%; vertical-align: top;">&#160;</td>
          <td style="width: 38%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">798-6100</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.35%; vertical-align: top;">
            <div style="text-align: center;">(Name)</div>
          </td>
          <td style="width: 1.11%; vertical-align: top;">&#160;</td>
          <td style="width: 22.06%; vertical-align: top;">
            <div style="text-align: center;">(Area Code)</div>
          </td>
          <td style="width: 1.11%; vertical-align: top;">&#160;</td>
          <td style="width: 38%; vertical-align: top;">
            <div style="text-align: center;">(Telephone Number)</div>
          </td>
        </tr>

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    <div><br>
    </div>
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        <tr>
          <td style="width: 3.8%; vertical-align: top;">
            <div>(2)</div>
          </td>
          <td style="width: 96.2%; vertical-align: top;">
            <div style="text-align: justify;">Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter
              period that the registrant was required to &#64257;le such report(s) been &#64257;led? If answer is no, identify report(s).Yes &#9746; No &#9744;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zfffa55987b1d4ea1a54321cf0b43b0da">

        <tr>
          <td style="width: 3.8%; vertical-align: top;">
            <div>(3)</div>
          </td>
          <td style="width: 96.2%; vertical-align: top;">
            <div>Is it anticipated that any signi&#64257;cant change in results of operations from the corresponding period for the last &#64257;scal year will be re&#64258;ected by the earnings statements to be included in the subject report or portion thereof?</div>
          </td>
        </tr>

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    <div> <br>
    </div>
    <div style="text-align: right;">Yes&#160;&#9744; No &#9746;</div>
    <div><br>
    </div>
    <div> If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.</div>
    <div> <br>
    </div>
    <div>On February 27, 2025, the Company issued a press release (the &#8220;Earnings Release&#8221;) reporting certain unaudited results for the three and twelve months ended December 31, 2024. The Company continues to finalize its audited financial statements for
      the year ended December 31, 2024, and the unaudited financial results included in the Earnings Release are subject to change. Actual results may differ from the unaudited financial results and other financial information disclosed in the Earnings
      Release due to the completion of our internal procedures, the audit of our financial statements, final adjustments and other developments that may arise between now and the time the results are finalized.</div>
    <div style="text-indent: 36pt;"> <br>
    </div>
    <div style="text-align: center; font-weight: bold;">Cautionary Note Regarding Forward-Looking Statements</div>
    <div><br>
    </div>
    <div>Certain statements in this Form 12b-25 may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements,
      including, without limitation, statements regarding the anticipated timing of the filing of the Annual Report and the Company&#8217;s expected results for the three and twelve months ending December 31, 2024. These statements are based on management&#8217;s
      current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond the Company&#8217;s control. The
      Company can give no assurance that its expectations will be attained and such differences may be material. Accordingly, you should not place undue reliance on any forward-looking statements contained in this Form 12b-25. For a discussion of some of
      the risks and important factors that could affect such forward-looking statements, see the sections entitled &#8220;Risk Factors&#8221; and &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; in the Company&#8217;s most recent
      Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the Company&#8217;s website (www.fipinc.com). In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or
      assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this Form 12b-25. The Company expressly disclaims any
      obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company&#8217;s expectations with regard thereto or change in events, conditions or circumstances on which any statement
      is based.</div>
    <div> <br>
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    <div></div>
    <div style="text-align: center; font-weight: bold;">FTAI Infrastructure Inc.</div>
    <div style="text-align: center;">(Name of Registrant as Speci&#64257;ed in Charter)</div>
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    </div>
    <div>has caused this noti&#64257;cation to be signed on its behalf by the undersigned hereunto duly authorized.</div>
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            <div>Date March 4, 2025</div>
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            <div><u>By /s/ Kenneth J. Nicholson</u></div>
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            <div>Kenneth J. Nicholson</div>
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          <td style="width: 35%; vertical-align: middle;">&#160;</td>
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            <div>Chief Executive Officer and President</div>
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