ITEM 5.02 ITEM 5.02 Change in Board of Directors / Officers
The Board of Directors of the Company (quorum present) met in special session on October 31, 2016 and concluded the following business affecting the Board and Officers of the Company.
* Receipt and acceptance of the resignation of Russell K. Thal as Director, President, and Board Member of the Company . * Nomination and election of Anthony D. Koulouris to serve as President of the Company.
* Nomination and election of Conrad Kalitta, CEO of Kalitta Air, to serve as a Director on the Board of Directors of the Company. * Receipt and acceptance of resignation of Frank A. Acquavella as an Officer (VP Operations / Director of Flight Operations) and Director of the Company.