HomeMy WebLinkAbout12/13/2018 - Zoning Board Of Appeals - Agenda - Regular MeetingHeidi Shuff, Chair
Ralph Shields, Vice Chair
Daphne Bear
Bob Long
Cody Snowdon
Butch Stockover
Karen Szelei-Jackson
Council Liaison: Ken Summers
Staff Liaison: Noah Beals
LOCATION:
City Council Chambers
300 LaPorte Avenue
Fort Collins, CO 80521
The City of Fort Collins will make reasonable accommodations for access to City services, programs, and activities and will make
special communication arrangements for persons with disabilities. Please call 221-6515 (TDD 224-6001) for assistance.
REGULAR MEETING
DECEMBER 13, 2018
8:30 AM
• CALL TO ORDER and ROLL CALL
• APPROVAL OF MINUTES FROM PREVIOUS MEETING
• CITIZEN PARTICIPATION (Items Not on the Agenda)
• APPEALS FOR VARIANCE TO THE LAND USE CODE
1. APPEAL ZBA180044
Address: 429 Garfield Street
Owner/Petitioner: Shawn McKee
Zoning District: N-C-M
Code Section: 4.8(E)(4)
Project Description:
This variance request is for a deck attached to the rear of the home to encroach 1.43 feet into the
required 5 foot west side setback, and 10.97 feet into the required 15 feet east corner side setback.
2. APPEAL ZBA180045
Address: 221 S. Grant Avenue
Owner: Walter & Libbie Hickman
Petitioner: Keira Harkin with Old Town Designs Inc.
Zoning District: N-C-L
Code Section: 4.7(C)(D)(2)(a)3
Project Description:
The variance request is for a 58 square foot addition to the primary building. The existing floor area in
the primary and accessory buildings is 674 square feet over the maximum allowable floor area of
4,274 square feet.
• OTHER BUSINESS
Keep Fort Collins Great sales tax presentation by Ginny Sawyer
2019 ZBA Work Plan
• ADJOURNMENT
ZONING BOARD OF APPEALS
AGENDA
Heidi Shuff, Chair
Ralph Shields, Vice Chair
Daphne Bear
Bob Long
Cody Snowdon
Butch Stockover
Karen Szelei-Jackson
Council Liaison: Ken Summers
Staff Liaison: Noah Beals
LOCATION:
City Council Chambers
300 LaPorte Avenue
Fort Collins, CO 80521
The City of Fort Collins will make reasonable accommodations for access to City services, programs, and activities and will make
special communication arrangements for persons with disabilities. Please call 221-6515 (TDD 224-6001) for assistance.
REGULAR MEETING
NOVEMBER 8, 2018
8:30 AM
• CALL TO ORDER and ROLL CALL
• APPROVAL OF MINUTES FROM PREVIOUS MEETING
• CITIZEN PARTICIPATION (Items Not on the Agenda)
• APPEALS FOR VARIANCE TO THE LAND USE CODE
1. APPEAL ZBA180040 – Approved
Address: 4985 Hogan Drive
Owner: Elise Simon and RJ Blume
Petitioner: Jeffrey Gaines, HighCraft Builders
Zoning District: U-E
Code Section: 4.2(D)(2)(d)
Project Description:
This variance request is for a new accessory building to encroach 15 feet into the required 20 feet
side-yard setback.
Staff Presentation:
Beals showed slides relevant to the appeal and discussed the variance request. This property is
located south of Harmony and east of South College. The neighborhood was originally platted in the
county and annexed into the city afterwards, so some other structures in the neighborhood do not
meet the required 20-foot side yard setback designated in the U-E zone district. The proposed
structure is located in the back yard and at an angle to the property line. The setback is 5 feet, but the
only point that is five feet is the corner of the structure, and then it decreases in proximity to the
property line. The structure is mostly open, has a fireplace and transparent glass with a roof covering.
There are other encroachments into the side yard set backs within this neighborhood. The full length
of the lot is 196 feet, this encroachment is only about 20 feet.
ZONING BOARD OF APPEALS
MEETING MINUTES
Zoning Board of Appeals Page 2 NOVEMBER 8, 2018
Boardmember Shuff asked Beals about the code structure. Can a structure be placed in the setback if
it has an eave height less than 8 feet and floor area less than a certain amount of square footage?
Beals says if a structure is less than 8 feet in total building height (not eve height) and less than 120
square feet, then it does not require a building permit and does not require a zoning setback. This
structure is just slightly more than that.
Applicant Presentation:
Zach Larrick, 429 S. Howes Street, with HighCraft Builders, addressed the board. Property owners
RJ and Elise are also present. This is a screened in structure, not enclosed by glass. The goal in
location of structure is to keep it nestled into the trees on the side of the yard and keep it low profile to
the neighbors. Elise had the immediate neighbors sign a petition agreeing that they approve the
structure. Typically, a neighborhood not in the UE district would have a 5 foot setback. The required
20 foot setback would be in the middle of the backyard.
Boardmember Shuff asked about the position of the project. Mr. Larrick explained the proposed
structure is near the master suite, and the further it’s placed into the middle of the yard impedes the
view out of the master suite. Also, it feels more comfortable with their size of lot to hold it closer to the
5 foot setback.
Audience Participation: None.
Board Discussion:
Boardmember Shuff is in support, given the size and height of the structure and reasoning behind the
location she thinks it is nominal and inconsequential. This would be different if it was a brand-new
house or addition that would be 5 feet from the setback, but an open air transparent structure that is
not even heated is different. She’s in support of the project.
Boardmember Snowdon agrees with Boardmember Shuff; the low profile and openness of the
structure doesn’t feel like it impedes on the neighboring property.
Boardmember Stockover likes the proposal.
Boardmember Bear points out they have support from neighbors.
Bear made a motion, seconded by Jackson, to approve ZBA180040 for the following reasons:
the variance is not detrimental to the public good, the lot is 196 feet in length and the
encroachment is for 20 feet of the length, only the corner of the accessory structure is at a 5
foot setback, and other buildings in the immediate neighborhood do not meet the 20 foot side-
yard setback. Therefore, the variance request will not diverge from the standard but in a
nominal, inconsequential way, when considered in the context of the neighborhood, and will
continue to advance the purpose of the Land Use Code contained in Section 1.2.2.
Vote:
Yeas: Shields, Jackson, Snowdon, Shuff, Stockover, Bear
Nays: None
The Motion was carried.
2. APPEAL ZBA180041 - Approved
Address: 2243 Hiawatha Court
Owner/Petitioner: Thomas and DeAnne Redder
Zoning District: R-L
Code Section: 3.5.2(E)(5)
Project Description:
This variance request is to build a tempered glass pool enclosure which exceeds the maximum
allowed area of an accessory building for this parcel in the R-L zone district. The 1495 square foot
structure would exceed the 800 square feet limit by 695 square feet.
Staff Presentation:
Beals showed slides relevant to the appeal and discussed the variance request. This property is just
north of Columbia Road. The structure will be built in the back yard. The trees that are on the aerial
view picture have already been removed. There are no trees in the backyard at this point. The R-L
district requires a 7 foot setback on either side property line, and at least a 15 foot setback from the
back of the structure to back property line. Beals presented schematics of what the structure would
look like; most of it is made of tempered glass and would follow the outline of the cement patio that
Zoning Board of Appeals Page 3 NOVEMBER 8, 2018
will be built along with the pool. There is not currently a pool in place, the applicants are waiting on
approval of this project as a pool requires a security structure surrounding it. The pictures are not the
exact structure that would be built; these pictures are slightly bigger. Most of the neighborhood has
houses that are 2 story. The structure being proposed is a 12 foot tall, one story structure in the back
that is transparent. Allowable floor area in the R-L district says the lot size has to be 3 times greater
than the floor area built on the property. This structure will not exceed the total allowable floor area for
the lot. The structure will not be visible from the front of the lot.
Boardmembers discussed where exactly this neighborhood is located.
Boardmember Snowdon asked Beals about the accessory building code language. They determined
if this was connected to the primary house, then it would be completely compliant and count toward
the primary structure’s square footage. Our code doesn’t limit the number of accessory buildings you
can have, but it does limit how large one accessory building can be, which is 800 square feet.
Boardmember Shuff confirmed the width of the proposed structure will be approximately as wide as
the back of the house, just short of 50 feet. They will pour the concrete to 50 feet by 30 feet and the
structure would be just inside that concrete.
Applicant Presentation:
Tom Redder and DeAnne Redder, 2243 Hiawatha Court, addressed the board. They have lived at
this address for 25 years, raised kids and pets there. General contractor, Sean Shiers, and neighbor,
Ron Slosson, are also present. Mr. Redder went to many neighbors, even beyond a 150-foot radius
of the property and obtained numerous signatures in support of the project. Mr. Redder states
Mission Hills has been platted for 42 years, this house and all neighbors’ houses and trees were
planted in about 1976. The 2 trees remaining in the backyard were some of the largest trees that the
tree removal company had ever seen. They were starting to encroach on the cement and pipelines,
and the company said they need to be removed. As a result, they have the biggest yard in the
neighborhood with nothing in it. Mr. Redder had submitted plans for putting a pool into the backyard,
and the city notified them that the size and location of the pool are approved, but a pool must be
secured. There are three ways to secure a pool in Fort Collins: a gate, a pool cover, or a greenhouse.
Mr. Redder explained they already have 6-foot cedar fencing along all the property lines in the
neighborhood, but that’s not sufficient to secure the pool. There must be a separate gate all the way
around the pool. Also, a gate and fence are easily climbed over, which would not provide much
security. The pool cover is also not very safe, as someone could fall through the cover if not property
secure. The green house offers the opportunity to grow things year-round and relax in winter without
being too cold. Mr. Redder has contracted a company called Pool Enclosures Inc. that has built many
tempered glass, insulated greenhouses that are used to cover pools. The greenhouse is a better way
to secure the pool as they can lock doors, much more secure than fence or cover.
Mr. Redder addressed the earlier discussion regarding total allowable floor area, explaining they
originally weren’t intending it to be an extension of the house, but it almost is. The oblong cement pad
with inground pool and enclosure abuts the back covered patio. In the future, they could close in that
patio and truly make it an extension of the house.
Audience Participation: None.
Board Discussion:
Boardmember Snowdon acknowledges that if this was attached, it would still be under the building
square footage, it is right behind the house and within the width of the existing house. However, it is
still a large auxiliary building.
Boardmember Jackson doesn’t think this is detrimental to public good, it’s actually good for safety in
this case.
Boardmember Shields says the proposed structure is basically connected to house as the back patio
is covered. Also, the neighborhood support is huge, probably one of the biggest support lists he’s
seen submitted to the board, and he would approve this.
Boardmember Shuff agrees, pretty much everyone in neighborhood is in support, that’s the biggest
weight on her mind. The fact that it’s so close to the existing house, it’s almost an extension, they
could easily connect and bring it into compliance in the future.
Boardmember Bear confirmed the home is larger in square footage, so this is definitely an accessory
building, and she has no other concerns.
Zoning Board of Appeals Page 4 NOVEMBER 8, 2018
Shuff made a motion, seconded by Jackson, to approve ZBA180041 as it is not detrimental to
the public good, the accessory building does not exceed the total allowable floor area for the
lot, the primary building is 2 stories and the proposed accessory building is 12 feet in height,
and the proposed accessory building is largely transparent. Additionally, if the existing
covered back patio was enclosed it would be considered one primary structure, therefore the
variance will not diverge from the standard but in a nominal, inconsequential way, when
considered in the context of the neighborhood, and will continue to advance the purpose of
the Land Use Code contained in Section 1.2.2.
Vote:
Yeas: Shields, Jackson, Snowdon, Shuff, Stockover, Bear
Nays: None
The Motion was carried.
3. APPEAL ZBA180042 - Approved
Address: 728 Cherry Street
Owner/Petitioner: Kirk Longstein
Zoning District: N-C-M
Code Section: 4.8(E)(3)
Project Description:
This variance request is for a 556 square foot 1-story addition to the rear of the home to encroach 6
feet into the 15 feet required rear yard setback.
Staff Presentation:
Beals showed slides relevant to the appeal and discussed the variance request. This property is on
the north side of Cherry Street, and east side of N. Grant, and is a corner property in the Old Town
area. The existing house faces Cherry Street and is addressed on Cherry Street. The back property
line is opposite, on the north side of the property, and the rear yard setback is 15 feet. Property to the
north fronts on North Grant so the shared property line is a side property line for the property to the
north with only a 5-foot setback required. The house extends north and south. The variance request
is for an extension that goes to north, with a proposed setback about 9 feet from their rear property
line. This is a one-story addition, about 15 feet in length. An alley runs north and south on the east
side of the property.
Applicant Presentation:
Kirk Longstein, 728 Cherry Street, addressed the board. Their primary interests are to complete this
addition as their family grows, and long-term home ownership in Fort Collins. They hope the
contemporary design fits with the context of the neighborhood. Not looking to pop-up or sprawl across
the lot, but instead looking to use the lot in the best way possible. The challenge and unique hardship
to this property is that the rear yard currently faces into the neighbor’s side yard. As the neighbors sit
on the rear patio, they look into the neighbor’s side yard and the house is very close in proximity. The
proposed design is intended for the side yard to become the back yard. Currently it’s fenced off so
they are not using the side yard to its potential and they want to expand that. They would like to have
the entrance to the east to utilize the side lot to the alley. It is a low-profile design, lower than the
existing roof structure. They are hoping to align with the existing structure of the neighborhood, with
the variance from existing code seen as nominal and inconsequential.
Audience Participation: None.
Board Discussion:
Boardmember Shuff asked if the applicant is still within compliance for rear half of the lot since it’s a
wide lot fronting on Cherry. Beals confirmed that they are just meeting the restrictions.
Boardmember Stockover stated it seems very typical of what is seen in the Old Town area, a small
addition to accommodate growth versus moving. On a corner lot with no opposition he sees no
problem with the proposal.
Boardmember Snowdon says the orientation is the key, if the front was towards Grant it would not be
a problem, they have a great back yard. Being addressed on Cherry instead of Grant is what throws it
out of compliance. The request fits the neighborhood criteria and he is in support.
Boardmember Bear sees the request as nominal and inconsequential with the neighbor’s 5-foot
setback and the applicant’s requested 9 foot setback.
Zoning Board of Appeals Page 5 NOVEMBER 8, 2018
Boardmember Shuff agreed, and stated the proposed solution is a good one. They are still honoring
their rear yard with a 9-foot setback which is pretty substantial considering it is essentially acting as a
sideyard to the neighboring property that fronts on Grant.
Jackson made a motion, seconded by Snowdon, to approve ZBA180042 for the following
reasons: the variance is not detrimental to the public good, the abutting property has a 5 foot
setback from the shared property line, the proposed addition is setback 9 feet, which is four
additional feet than the setback of the abutting property, and the length of the proposed
encroachment is 15 feet. Therefore, the variance request will not diverge from the standard
but in a nominal, inconsequential way, when considered in the context of the neighborhood,
and will continue to advance the purpose of the Land Use Code contained in Section 1.2.2
Vote:
Yeas: Shields, Jackson, Snowdon, Shuff, Stockover, Bear
Nays: None
The Motion was carried.
4. APPEAL ZBA180043 - Approved
Address: 638 Smith Street
Owner/Petitioner: Brian and Shelley Tracy
Zoning District: N-C-M
Code Section: 4.8(D)(6)
Project Description:
The variance request is to build a new detached garage with a carport. The proposed building is
826.7 square feet (600 square feet of garage and 226.7 square feet of carport). The maximum
allowable floor area for an accessory building is 600 square feet.
Staff Presentation:
Beals showed slides relevant to the appeal and discussed the variance request. The property is
located on Smith Street, south of Myrtle, toward the south end of the block. The proposal is for a new
600 square foot garage, and also a carport/porch attached to garage. Prior to this year this project
would not have required a variance, but the code changed this year stating a carport now counts as
floor area. The code changed because the City has seen more large accessory structures not
counting as floor area, but still presenting large building massing. Now the code states a carport,
attached or not, does count toward the floor area. This garage design has been completed once
before on the same block and same alley, and it was approved prior to the code change. There are
other accessory buildings along the alley that are probably larger than 600 square feet even without a
carport. Including the proposed structure, they still do not exceed the floor area for overall lot or the
rear half of the lot. There are other structures along this block and alley that are similar in size to what
is being proposed.
Boardmember Shuff questioned the new code requirement, asking if there is anything to differentiate
between a carport and a garage. Beals says not yet, staff will probably have to do an administrative
interpretation or add other code language to clarify exactly what is meant by carport versus porch. We
don’t have that language yet because the code is so new. If it’s big enough to fit cars, and it looks like
a carport, then it’s treated as a carport.
Applicant Presentation:
Brian Tracy, 638 Smith Street, addressed the board. Mr. Tracy states their timing in purchasing the
house was unfortunate, as the code changed the first week of June and they closed on this house the
second week of June. They were not aware of the code change upon purchase. They are pursing the
30-foot-deep garage to have some useable space in front of the vehicles for tools and work. They do
intend it to be a multi-use porch/carport, using it for cars or social gatherings. The roof comes over
the width of the structure to provide more storage space than the attic, without increasing the height
any more than most of the neighboring structures. It also provides a south facing uninterrupted pitch
for the solar that they intend to install within about 5 years. The house roof is not good for solar,
because of the proximity to nearby trees. Potential concern about massing is mitigated a bit by the
actual design. The porch/carport doesn’t go the full depth; there is a small part of the building in the
front and a larger part of the building in the back. The porch is open on all three sides therefore
mitigating the visible effects of the massing. They are within the setbacks, 2 feet further in from the
alley, 1 foot further in on the north side, and several feet further in on the south side. There is no
Agenda Item 1
Item # 1 - Page 1
STAFF REPORT December 13, 2018
STAFF
Noah Beals, Senior City Planner/Zoning
PROJECT
ZBA180044
PROJECT DESCRIPTION
Address: 429 Garfield Street
Owner/Petitioner: Shawn McKee
Zoning District: N-C-M
Code Section: 4.8(E)(4)
Variance Request:
The variance request is for a deck attached to the rear of the home to encroach 1.43 feet into the required 5 foot
west side setback, and 10.97 feet into the required 15 foot east corner side setback.
COMMENTS:
1. Background:
The property was platted in approximate in 1890 and the primary building was later built in 1902. The
existing building encroaches into both side setbacks. The property is a corner lot. The east property line is
setback at least 20 feet from the curb, creating a large parkway.
2. Applicant’s statement of justification: See petitioner’s letter.
3. Staff Conclusion and Findings:
Under Section 2.10.2(H), staff recommends approval and finds that:
• The variance is not detrimental to the public good.
• The existing structure encroaches into both side setbacks.
• The deck is open on three sides.
• The deck is only covered on the west side.
• The large parkway along the west side creates a substantial setback from the street.
• The deck is less than 3 feet above grade.
Therefore, the variance request will not diverge from the standard but in a nominal, inconsequential way,
when considered in the context of the neighborhood, and will continue to advance the purpose of the Land
Use Code contained in Section 1.2.2.
4. Recommendation:
Staff recommends approval of Appeal ZBA180044.
#:&9&$65*/(5)&$0/53"$55)&$0/53"$5033&13&4&/545)"5)&7*4*5&%
5)&4*5&'".*-*"3*;&%)*.4&-'8*5)5)&-0$"-$0/%*5*0/4$0%&4"/%08/&3
3&26*3&.&/546/%&38)*$)5)&803,*450#&1&3'03.&%"/%$033&-"5&%)*4
0#4&37"5*0/48*5)5)&3&26*3&.&/540'5)&$0/53"$5%0$6.&/545)*44)"--
#&%0/&13*03504*(/*/(5)&$0/53"$5'03$0/4536$5*0/
13041&$5*7&46#$0/53"$50344)"--4&$63&"--%"5""55)&4*5&0'
130104&%$0/4536$5*0/46$)"4$0/7&/*&/$&0'3&$&*7*/("/%4035*/(
."5&3*"-445"(*/("3&"4-0$"5*0/0'16#-*$4&37*$&4"/%05)&3*/'03."5*0/
8)*$)8*--)"7&*/'-6&/$&0/.",*/(5)&*3130104"-4030/5)&&9&$65*0/0'5)&
803,/0"--08"/$&48*--#&."%&'03'"*-63&0'5)&46#$0/53"$50350
0#5"*/46$)0/4*5&*/'03."5*0/13*03504*(/*/(0'5)&$0/53"$5
4)06-%&*5)&35)&%3"8*/(4"/%5)&41&$*'*$"5*0/403"/:1"35*$6-"3
41&$*'*$"5*0/"/%5)&(&/&3"-$0/%*5*0/4$0/53"%*$5&"$)05)&3*/"/:10*/5
033&26*3&$-"3*'*$"5*0/5)&$0/53"$503.645$"--5)&4".&505)&"55&/5*0/
0'5)&"3$)*5&$5"/%)*4%&$*4*0/4)"--#&0#5"*/&%13*03504*(/*/(5)&
$0/53"$5'03$0/4536$5*0/
5)&$0/53"$503"/%&"$)46#$0/53"$5034)"--#&3&410/4*#-&'03
7&3*'*$"5*0/0'"--.&"463&.&/54"5"/%*/5)&130104&%$0/4536$5*0/
#6*-%*/(034*5&03463306/%*/(4/0$)"3(&03$0.1&/4"5*0/4)"--#&
"--08&%%6&50%*''&3&/$&4#&58&&/"$56"-%*.&/4*0/4"/%%*.&/4*0/4
*/%*$"5&%0/5)&%3"8*/(4"/:46$)%*4$3&1"/$:*/%*.&/4*0/48)*$).":#&
'06/%4)"--#&46#.*55&%505)&"3$)*5&$5'03)*4$0/4*%&3"5*0/#&'03&5)&
$0/53"$503130$&&%48*5)5)&803,*/5)&"''&$5&%"3&"
&"$)$0/53"$5034)"--$"3&'6--:456%:"/%$0.1"3&5)&$0/4536$5*0/
%0$6.&/5"/%4)"--3&1035505)&"3$)*5&$5"/:&3303*/$0/4*45&/$*&403
0.*44*0/)&.":%*4$07&3'635)&35)&$0/53"$5034)"--/05130$&&%8*5)
"/:803,8)*$))&#&-*&7&450#&$0/53"3:50)*4,/08-&%(&0'(00%
$0/4536$5*0/45"/%"3%4"/%13"$5*$&4"/%4)"--/0564&"/:46#45"/%"3%
."5&3*"-
$0/53"$5034)"--'0--084*;&4*/41&$*'*$"5*0/403%*.&/4*0/&%'*(63&40/
%3"8*/(4*/13&'&3&/$&504$"-&.&"463&.&/54"/%'0--08%&5"*-%3"8*/(4*/
13&'&3&/$&50(&/&3"-%3"8*/(4
8)&3&*5*40#7*0645)"5"%3"8*/(*--6453"5&40/-:"1"350'"(*7&/
803,030'"/6.#&30'*5&.45)&3&."*/%&34)"--#&%&&.&%3&1&5*5*064
"/%40$0/4536$5&%
$0/53"$503*4507&3*':5)"5"--&26*1.&/5"/%'*9563&4"3&*/
"$$03%"/$&8*5)1-"/4"/%41&$*'*$"5*0/45)&$0/53"$503*4503&1035
*..&%*"5&-:505)&"3$)*5&$5"/:&26*1.&/5/05*/"$$03%"/$&8*5)1-"/4"/%
41&$*'*$"5*0/45)&$0/53"$503*450"4463&5)"55)&1-"$&.&/50'&26*1.&/5*4
1044*#-&#&'03&$0/4536$5*0/0'"--*/5&3*031"35*5*0/4"3&$0.1-&5&%
5)&%3"8*/(4"/%41&$*'*$"5*0/4"3&*/5&/%&%50#&'6--:&91-"/"503:"/%
4611-&.&/5"3:4)06-%"/:5)*/(#&4)08/*/%*$"5&%0341&$*'*&%0/0/&"/%
/055)&05)&3*54)"--#&%0/&
5)&(&/&3"-$0/53"$5034)"--.",&/0$)"/(&4*/5)&803,8*5)065"
$)"/(&03%&34*(/&%#:5)&08/&303"$0/4536$5*0/$)"/(&%*3&$5*7&*446&%
#:5)&"3$)*5&$5
*58*--#&"446.&%5)"5&"$)53"%&)"4"$$&15&%5)&26"-*5:0'5)&803,0'
05)&34610/8)*$))*4803,.645#&"11-*&%6/-&445)&"3$)*5&$5"/%08/&34
*/'03.&%505)&$0/53"3:"5-&"45)0634#&'03&$0..&/$*/(803,
.*/03%&5"*-4/05646"--:4)08/0341&$*'*&%#65/&$&44"3:'035)&1301&3
*/45"--"5*0/03$0/'03."/$&8*5)$0%&40345"/%"3%4-*45&%03%&1*$5&%)&3&*/
4)"--#&*/$-6%&%*/5)&803,
"GG&SO@MDJM8<GGN<M@S
N*IO@MDJM8<GGN<M@S
N6/0
7@MDAT<GG5P= 4CJR@M4DU@N#@AJM@'M<HDIB8<GGN
1MJQD?@'DM@#GJ>FDIB1@M$J?@N!<GG4O<DMN<I?8<GGN0Q@M
)DBC
8DI?JR %JJM$<GGJPON<M@/0.*/"-7@MDATRDOC.'3AJM30 &BM@NN
3@LPDM@H@ION8DI?JR$<GGJPON<M@DI'@@O *I>C@N
$
$
$
$
3&.07&&9*45*/(8*/%08
13&1'03/&8%003
3&.07&1035*0/4
0'8"--50
&/-"3(&&9*45*/(
01&/*/(
3&.07&&9*45*/(%003
13&1'03/&8%003"/%8*/%084
13&1'03/&8%003
13&1'03
/&8%003
-0$"5*0/0'
&9*45*/(#.
M@HJQ@@SDNODIB
NO@KN
&
& &
&
&
&
&
&
&
&
&
&
3&.07&&9*45*/('30/545&14
.HQQH\/HHDUFKLWHFWXUHJURXSLQF
FKHFNHG
MREQR
VKHHW
GUDZQ
GDWH UHYLVLRQV .HQQH\/HH
DUFKLWHFWXUHJURXSLQF
/RYHODQG &RORUDGR
61
$
$
$
$
@SDNODIB
=<N@H@IO
NK<>@
@SDNODIB>JGPIH
GJRR<GG
GJRR<GG
=@<HKJ>F@O
K@MNOMP>
=@<HKJ>F@O
K@MNOMP>
61
%/
3<IB@
5HI
%/
%/
%/
<GG<IBG@N<M@ JM
PIG@NNIJO@?JOC@MRDN@
?@IJO@N@SDNODIBR<GG
?@IJO@NI@RR<GG
$
$
$
$
0)$
0)$
4)08&3
0)$
NDIF
K<IOMT
#@?MJJH
S
&2
&2 &2
."5$)&9*45*/(8*%5)
."5$)&9*45*/(%&15)
I@RM@<M?@>F
I@RAMJIOKJM>C
,DO>C@I
S
#<OCMJJH
-DQDIB%DIDIB
3JJH
S
>GJ
$
$
$
$
S
OP=
S
NCJR@M
#&%300.
8*
$-0
3JJH
#"5)300.
7"/*5:
%003
$6550'*5
I&8?003
I&8?003
I&8?003
I&8?003
7&3*':&(3&44
7&3*':&(3&44
&
&
&
&
&
"-*(/
/ /
/
/
"-*(/8*5)45"*34
"-*(/8*5)45"*34
"55*$
"55*$
"55*$
"MMJR*I?D><O@N
?DM@>ODJIJA
%M<DI<B@OTK
4GJK@
7<GG@T
3D?B@
3D?B@ 3D?B@
3D?B@
3D?B@
3D?B@
7<GG@T
7<GG@T
7<GG@T
7<GG@T
7<GG@T
7<GG@T
)DK
)DK
)DK
)DK
7<GG@T
4GJK@
4GJK@ 4GJK@
4GJK@
4GJK@ 4GJK@
4GJK@
4GJK@
4GJK@
4GJK@
4GJK@
4GJK@
&9*45*/(300'
&9*45*/(300'
/&8NC@?300'
300'*/(50#&
.'350#&4&-&$5&%
7&3*':8*5)08/&3'03"/:41&$*"-#-&/%4
300'4-01&50#&BBB4&&4&$5*0/4
&-&7"5*0/4'03.03&*/'0
6/%&3-":.&/550#&0/&-":&30''&-5
03
$
$
."*/-&7&-
&95&3*038"--4
I@RAMJIOKJM>C
I@RK@MBJG<JQ@MI@R@IOMT
$
$
."*/-&7&-
&95&3*038"--4
/&8300'
$
$
."*/-&7&-
&95&3*038"--4
I@RMJJANOMP>OPM@ I@R?@>F
$
$
."*/-&7&-
&95&3*038"--4
/&8300'
.HQQH\/HHDUFKLWHFWXUHJURXSLQF
FKHFNHG
MREQR
VKHHW
GUDZQ
GDWH UHYLVLRQV .HQQH\/HH
DUFKLWHFWXUHJURXSLQF
/RYHODQG &RORUDGR
"*3#"33*&31&35"#-&3
" "*3#"33*&3 5)&3."-#"33*&3
$0/5*/6064"*3#"33*&3!#6*-%*/(&/7&-01&
"--#3&",403+0*/544)"--#&4&"-&%
"*31&3.&"#-&*/46-"5*0/4)"--/05#&64&%"4"
4&"-*/(."5&3*"-
# $&*-*/("55*$
%3011&%$-( 40''*5450#&*/46-"5&% 4&"-&%
"$$&4401&/*/(4%301%08/45"*3450
6/$0/%*5*0/&%"55*$41"$&4
$ 8"--4
$03/&34)&"%&3450#&4&"-&%
'06/%"5*0/4*--1-"5&50#&4&"-&%
,/&&8"--450#&4&"-&%
% 8*/%0844,:-*()54%0034
41"$&#&58&&/8*/%08%003+".#4 '3".*/(50
#&4&"-&%
& 3*.+0*454
50#&*/46-"5&% */$-6%&%*/"*3#"33*&3
' '-0034 "#07&("3"(&$"/5*-&7&3&%
*/46-"5*0/50#&*/1&3."/&/5$0/5"$5R6/%&34*%&
0''-003
"*3#"33*&350#&*/45"--&%!&9104&%&%(&0'
*/46-"5*0/
( $3"8-41"$&8"--4
*/46-"5*0/4)"--#&1&3."/&/5-:*/45"--&%508"--4
&9104&%&"35)*/6/7&/5&%$3"8-41"$&4)"--#&
$07&3&%R$-"447"1033&5"3%&3+0*/54
07&3-"11&% 5"1&%
) 4)"'54 1&/&53"5*0/4
"--01&/*/(450&95&3*03036/$0/%*5*0/&%41"$&
50#&4&"-&%
* /"3308$"7*5*&4
"--/"3308$"7*5*&450)"7&*/46-"5*0/$6550'*5
+ ("3"(&4&1"3"5*0/
41"$&#&58&&/("3"(& $0/%*5*0/&%41"$&50#&
4&"-&%
, 3&$&44&%-*()5*/(
4)"--#&*/45"--&%*/5)*-%*/(&/7&-01&"*3
5*()5*$3"5&% 4&"-&%5*()550%3:8"--
- 1-6.#*/( 8*3*/(
#"55*/46-"5*0/50#&$6550'*5*/ "306/%8*3*/(
1-6.#*/(*/&95&3*038"--4
$*3$6-"5*/()058"5&34:45&.44)"--)"7&"/
"650."5*$033&"%*-:"$$&44*#-&."/6"-48*5$)
5)"5$"/563/0''5)&16.18)&/5)&4:45&.*4/05
*/64&
. 4)08&356#0/&95&3*038"--
&95&3*038"--44)"--#&*/46-"5&% 5)&"*3
#"33*&3*/45"--&%4&1"3"5&'30.5)&56#
/ &-&$53*$"-#09&40/&95&3*038"--4
"*3#"33*&350#&*/45"--&%#&)*/%#09&403"*3
4&"-&%#09&%50#&*/45"--&%
0 )7"$
"/:#0055)"51&/&53"5&45&)5)&3."-&/7&-01&
50#&4&"-&%5046#'-00303%3:8"--
"--%6$5450#&4&"-&%
/0#6*-%*/('3".*/(.&.#&34"--08&%50#&64&%
"4%6$54031-&/6.4
130(3".."#-&5)&3.045"543&26*3&%'03"--
61
N
N?
>
BAD
RK
N
N
N?
N
$
AJM
R<NC@M
AJM
?MT@M
QJPOG@O
QJPOG@O
R@<OC@MKMJJAQ
CJO NRDO>C@?
61
%/
3<IB@
5HI
%/
%/
%/
N
N
N
N
N
N N
NN
N
N
N N
N
N
BAD BAD
N?
N?
>
RK RK RK
BAD
RK
N
N N
N
N
N?
>
BAD
RK
N
N
N?
N
PK
AJM
M@A
AJM
?DNK
AJM
M<IB@
>JJM?OQ
@IO@MO<DIH@IO
GJ><ODJIRJRI@M
JKODJI<G
A<I
AJM
HR
"--&95&3*03065-&5450#&
8&"5)&31300'"/%('*1305&$5&%
-*()5*/('*9563&40$$63*/("#07&56#4
034)08&344)"--#&8"5&31300'
1305&$5&%
"--065-&54 3&$&15"$-&4*/,*5$)&/4
#"5)465*-*5:"3&"4#"3"3&"4"/%
065-&54*/("3"(&4)"--)"7&('*
N
NN
N
N N
N
N?
N?
N?
BADBAD
N
N
N
N?
>
BAD
RK
N
N
N?
N
$
$
$
$
%/
"--&95&3*03065-&5450#&
8&"5)&31300'"/%('*1305&$5&%
-*()5*/('*9563&40$$63*/("#07&56#4
034)08&344)"--#&8"5&31300'
1305&$5&%
"--065-&54 3&$&15"$-&4*/,*5$)&/4
#"5)465*-*5:"3&"4#"3"3&"4"/%
065-&54*/("3"(&4)"--)"7&('*
1305&$5*0/"41&3/&$ "-407&3*':
"/:"%%*5*0/"--0$"-3&26*3&.&/54
$0/53"$50350'*&-%7&3*':"--
&-&$53*$"-8*5)08/&3 "3$)*5&$5
13*0350*/45"--"5*0/
$-&"3*/(4'03'63/"$&50#&1&3
.'3-*45*/(4
$0/53"$503501307*%&"/
"--08"/$&*/#*%'03"--)"/(*/(
'*9563&446$)"4'"/4$)"/%&-*&34
&5$4)08/0/1-"/
&-&$53*$"-4:45&.(306/%50#&
1307*%&%1&3/&$
1307*%&-&/4&4'03"--'-063&4$&/5
56#&'*9563&4
."*/-*()548*5$)*/,*5$)&/50#&
$0//50'-063&4$&/5'*9563&4
1307*%&3&$*3$16.10/8"5&3
)&"5&3*/46-"5&"--)058"5&3-*/&4
8*5)3.*/*/46-"5*0/ 6/0
4.0,&%&5&$503450#&1&3."/&/5-:
8*3&%50)064&$*3$6*5
,*5$)&/-*()54"/%"11-*"/$&450#&
5"#-&3
6-14-18
From: Lisa Cunningham <mailforlisinka@yahoo.com>
Sent: Tuesday, December 04, 2018 2:39 PM
To: Noah Beals <nbeals@fcgov.com>
Subject: Appeal #ZBA180044, 429 Garfield Street
Dear Mr. Beals,
I received a Notice of Public Hearing in the mail regarding 429 Garfield. I own the property adjacent to
the west, 427 Garfield Street. I cannot attend the hearing on December 13, 2018, so I'd like to go on
record that I do not have an issue with the variance request, and think it should be approved.
Thank you,
Lisa Cunningham
970-221-7141
Agenda Item 2
Item # 2 - Page 1
STAFF REPORT December 13, 2018
STAFF
Noah Beals, Senior City Planner/Zoning
PROJECT
ZBA180045
PROJECT DESCRIPTION
Address: 221 S. Grant Avenue
Owner: Walter & Libbie Hickman
Petitioner: Keira Harkin with Old Town Designs Inc
Zoning District: N-C-L
Code Section: 4.7(C)(D)(2)(a)3
Variance Request:
The variance request is for a 58 square foot addition to the primary building. The maximum allowable floor area
for the property is 4,274 square feet. The existing floor area in the primary and accessory buildings is 674 feet
over.
COMMENTS:
1. Background:
The property was platted in approximate 1887 and the primary building was built in 1905. Also, on the
property is an accessory structure that is 1,152 square feet in size. It is unclear what changes/remodels
have occurred since the original construction.
2. Applicant’s statement of justification: See petitioner’s letter.
3. Staff Conclusion and Findings:
Under Section 2.10.2(H), staff recommends approval and finds that:
• The variance is not detrimental to the public good.
• The additional 58 square feet is enclosing an existing 2nd story deck.
• The addition meets the setbacks and does not increase the footprint of the existing building.
• Substantial trees on the south side of the property screen the addition from the closest property line.
Therefore, the variance request will not diverge from the standard but in a nominal, inconsequential way,
when considered in the context of the neighborhood, and will continue to advance the purpose of the Land
Use Code contained in Section 1.2.2.
4. Recommendation:
Staff recommends approval of Appeal ZBA180045.
Hickman Residence
Addition
PROPOSED PLAN
Old Town Design Build, Inc.
210 E. Oak
Fort Collins, CO 80524
ZBA180045 - 221 S. Grant
From: Christine Macrina
To: Susan Beck-Ferkiss; Brittany Depew; Cassie Archuleta; Ellen Martin; Liz Good; Russell Hovland; Gretchen
Schiager; Kacee Scheidenhelm; Jerrod Kinsman; Mattie Buckner; Carol Thomas; Adam Molzer; Liz Irvine; Jack
Rogers; Matthew Robenalt; Joanna Stone; Josh Birks; Erin Zimmermann; Tim McCollough; Christie Fredrickson;
Janie Appleton; Carolyn Koontz; Mike Calhoon; Colleen Bannon; Dawn Worth; Katie Beberniss; Julie Brewen;
Daylan Figgs; Michelle Vattano; Drew Brooks; Katlyn Kelly; Danna Varnell; Bob Adams; Kurt Friesen; Cameron
Gloss; Sharlene Gerber; Katie Stieber; Paul S. Sizemore; Lauren Nagle; Tessa Greegor; Carol Webb; Katherine
Martinez; Shannon Hein; Tim Stabbe; Marc Rademacher; Noah Beals; Marcha Hill
Cc: Ginny Sawyer
Subject: Important message for Boards, Commissions, and Authorities regarding KFCG
Date: Thursday, November 29, 2018 9:01:25 AM
Good morning everyone,
Ginny Sawyer asked that forward the following information for you to bring to your respective
Boards, Commissions, and Authorities. You can send recommendations to the attention of Sarah
Kane in the City Manager’s Office or myself and we will make sure they get into City Council packets.
***
Dear Board Liaison,
As you may be aware, City staff has been working diligently over the past year to have discussions
with Council and the public regarding the sunset of the .85 voter-approved Keep Fort Collins Great
(KFCG) sales tax.
KFCG is scheduled to sunset in 2020. If the community would like to maintain the current level of
service there are several funding possibilities, including renewal, creating a new dedicated tax, or
increasing the base sales tax rate. Our current base rate is 2.25 percent and has not been increased
since 1981.
Whether the base rate increases and KFCG expires, or KFCG is renewed as-is, none of the current
options under consideration will increase the overall tax burden.
Any change to the City’s tax structure requires a vote and would likely appear on the April 2019
municipal ballot which requires a Council ballot referral on Feb. 5th
.
Some boards have had staff presentations, and some had members at a previous Super Issue
meeting. If your Board is interested in a presentation prior to January 22 (last Council work session
on this topic) please contact Ginny Sawyer. If your Board would like to send a recommendation to
Council on this topic doing so prior to the January 22 work session or prior to the Feb 5th
ballot
referral would be best.
There are 3 main options at this point:
1. A straight renewal of the existing tax
2. A one-time vote to add the .85% into the base rate (without increasing any tax on groceries)
3. Adding a .60 increase to the base rate (which covers police, streets, fire, and basic services)
and then having a .25 dedicated tax (possibly for parks and recreation and multi-mode transit)
Please encourage your boards to engage on this topic and let me know if you have any questions.
More information can be found here: https://ourcity.fcgov.com/KFCG
Thank you.
ginny
Thanks from me too for this and all that you do.
CHRISTINE MACRINA
Boards and Commissions Coordinator
City of Fort Collins
300 LaPorte Avenue
970-416-2525 office
cmacrina@fcgov.com
"Tell us about our service. We want to know!"
ZONING BOARD OF APPEALS
2019 WORK PLAN
The Zoning Board of Appeals (ZBA) will meet on the second Thursday of every month,
providing that there are discussion items appearing on the regular monthly agenda. The
Board may also meet as needed in order to convene special meetings.
The primary purpose of the meetings will be to hear and decide appeals of certain
administrative decisions made by City staff and to authorize variances from the
requirements of the Land Use Code. It is estimated that the Board will consider
approximately 45 variance requests in 2019.
The Board will review proposed Land Use Code revisions that may be necessary as the
City continues refinement of the Code through the annual code update ordinance and will
also explore updating the By-Laws for the Zoning Board of Appeals.
No other special projects or issues are anticipated at this time.
'"45&/&34$)&%6-&
%&4$3*15*0/0'#6*-%*/(
&-&.&/54
41"$*/( GJ><ODJI
#GJ>FDIB=@OR@@I>@DGDIB
EJDNONJMM<AO@MNOJOJK
KG<O@
$@DGDIBEJDNONOJOJKKG<O@
$@DGDIBEJDNOIJO<OO<>C@?OJ
K<M<GG@GM<AO@MG<KNJQ@M
K<MODODJIN>N@@4@>ODJIN
33<I?5<=G@
3
@
'<>@I<DG
$@DGDIBEJDNO<OO<>C@?OJ
K<M<GG@GM<AO@M C@@GEJDIO
>N@@4@>ODJIN3<I?
3<I?5<=G@
3
@
$JGG<MOD@OJM<AO@MA<>@
I<DGJMŹ î B<MD?B@
NOM<KOJM<AO@M
3<AO@MJMMJJAOMPNNOJ
KG<O@
OJ@I<DGNJIJI@ND?@<I?
OJ@I<DG
JIJKKJNDO@ND?@JA@<>C
M<AO@MJM
OMPNN
3JJAM<AO@MNOJMD?B@
Q<GG@TJMCDKM<AO@MNJM
MJJAM<AO@M
OJHDIDHPHŹ MD?B@=@<H
4OP?OJNOP? IJO<O=M<>@?
R<GGK<I@GN
4OP?OJNOP?<I?<=POODIB
NOP?N<ODIO@MN@>ODIBR<GG
>JMI@MN
<O=M<>@?R<GGK<I@GN
#PDGOPKC@<?@M Ź OJŹ
C@<?@MRDOCŹ NK<>@M
$JIODIPJPNC@<?@MOJNOP?
5JKKG<O@OJOJKKG<O@
%JP=G@OJKKG<O@NKGD>@
4%$N%%JM%<I?
=M<>@?R<GG
GDI@NK<>DIB˰
'<>@I<DGJI@<>CND?@JA
@I?EJDIO
HDIDHPHŹ G<KNKGD>@
G@IBOC@<>C
ND?@JA@I?EJDIO
#JOOJHKG<O@OJEJDNOMDH
EJDNO=<I?EJDNOJM
=GJ>FDIB <O=M<>@?R<GG
K<I@G
5JKJM=JOOJHKG<O@OJ
NOP?
5JKKG<O@NG<KN<O>JMI@MN
<I?DIO@MN@>ODJIN
A<>@I<DG
Ź =M<>@OJ@<>CNOP?<I?
KG<O@
A<>@I<DG
$&-*/(+0*454501"3"--&-
3"'5&34'"$&/"*-4 A<>@I<DG
Ź î Ź <I?RD?@MNC@<OCDIB
OJ@<>C=@<MDIB
A<>@I<DG
+JDNOOJNDGGOJKKG<O@JM
BDM?@M
OJ@I<DG
3DHEJDNO=<I?EJDNOJM
=GJ>FDIBOJNDGGJMOJK
KG<O@ MJJA<KKGD><ODJIN
<GNJ
J>OJ@I<DG
Ź î Ź NP=AGJJMJMG@NNOJ
@<>CEJDNO
A<>@I<DGN
Ź NP=AGJJMOJEJDNOJM
BDM?@M
#GDI?<I?A<>@I<DG
Ź KG<IFN "O@<>C=@<MDIBA<>@
I<DG
#<I?JMMDHEJDNOOJEJDNO
#PDGOPKBDM?@MN<I?
=@<HNDI>CGPH=@M
G<T@MN
-@?B@MNOMDKNPKKJMODIB
EJDNONJMM<AO@MN
"O@<>CEJDNOJMM<AO@M
A<>@I<DG
#MD?BDIBOJEJDNO @<>C@I?OJ@I<DG
?=JSJM
?>JHHJIJM
?=JSJM
SI<DGN
?
?>JHHJIJM
/<DG@<>CG<T@M<NAJGGJRN
Ź J><OOJK<I?=JOOJH
<I?NO<BB@M@?
?=JSJM
Ź î Ź I<DGN
Ź J>A<>@I<DG<OOJK<I?
=JOOJHNO<BB@M@?JI
JKKJNDO@ND?@N
IPH=@M OTK@JA
A<NO@I@M<=>
MJJA
"I?
?>JHHJIJM
?=JS Ź î Ź
JM
Ź î Ź I<DGN
'<>@I<DG<O@I?N<I?<O
@<>CNKGD>@
?>JHHJI
=JSJM
Ź î Ź I<DGNJM
>Ź MJRI î B<NO<KG@NŹ
@I?I<DG
?=JSJM
?>JHHJI
?=JSJM
?>JHHJI
?=JSJM
?>JHHJIJM
??JSJM
NO<KG@N>MJRI
B<GJIB
?>JHHJIJM
??JSJM
SI<DGN
?=JS J>OJ@I<DG
?=JSJM
?>JHHJIJM
??JSJM
SI<DGN
AGJJM
?8D?@MOC<=JSJM IŹ î Ź
?>JHHJIJM
?=JSJM
NO<KG@NŹ >MJRI
B<Ź GJIB
?=JSJM
?>JHHJIJM
?=JSJM
NO<KG@NŹ >MJRI
B<Ź GJIB
?=JSJM
?>JHHJIJM
?=JSJM
NO<KG@NŹ >MJRI
B<Ź GJIB
?=JSJM
?>JHHJIJM
?=JSJM
NO<KG@NŹ GJIB
?=JSJM
?>JHHJIJM
SI<DGN
?=JSJM
?>JHHJIJM
?=JSJM
Ź î Ź I<DGN
@I?I<DG
?=JSJM
?=JSJM
?>JHHJIJM
?=JS
Ź î Ź I<DGN
A<>@I<DG
?=JSJM
?>JHHJIJM
Ź î Ź I<DGN
@<>CJ>A<>@I<DG
@<>CJ>A<>@I<DG
@<>CJ>A<>@I<DG
?
%JP=G@OJKKG<O@NKGD>@AJM
4%$N"%RDOCN@DNHD>
=M<>@?
R<GGGDI@NK<>DIB
?>JHHJIJM
?=JSJM
?=JSJM
Ź î Ź I<DGN
?>JHHJI
?=JSJM
SI<DGN
Ź J>A<>@I<DG
Ź J>A<>@I<DG
?=JSJM
?>JHHJIJM
?=JS
5J@I<DG
?>JHHJI
?=JS
J>@<>C@?B@A<>@I<DG
J>@<>C@?B@A<>@I<DG
?=JS J>A<>@I<DG
?>JHHJI J>A<>@I<DG
?>JHHJI
?=JS
J>A<>@I<DG
J>A<>@I<DG
?=JSJM
?>JHHJIJM
?=JSJM
Ź î Ź I<DGN
@I?I<DG
?JM
?>JHHJIJM
?=JSJM
Ź î Ź I<DGN
5J@I<DG
?=JSJM
?>JHHJII<DGNJM
?=JS
Ź î Ź I<DGN D
?=JSJM
?>JHHJIJM
Ź î Ź I<DGN
'<>@I<DG@<>CM<AO@M
5<=G@3 '<>@I<DG
?=JSJM
?>JHHJIJM
Ź î Ź I<DGN
?=JSJM
?>JHHJIJM
?=JSJM
Ź î Ź I<DGN
1@MEJDNOOJ@I<DG
?=JSJM
?>JHHJIJM
?=JSJM
î Ź I<DGN
5J@I<DG
%&4$3*15*0/0'#6*-%*/(
."5&3*"-
%&4$3*15*0/0'
'"45&/&34
&%(&
*/$)&4
*/5&3.&%*"5&
46110354
*/$)&4
800%4536$563"-1"/&-446#'-003300'"/%8"--4)&"5)*/(50'3".*/(
"/%1"35*$-�"3%8"--4)&"5)*/(50'3".*/(
%$0..0//"*-
46#'-003R<GG
%$0..0//"*- 300'
%$0..0//"*-
%$0..0//"*-03
%%&'03.&%/"*-
05)&38"--4)&"5)*/(
4536$563"-$&--6-04*$
'*#&3#0"3%4)&"5)*/(
("-7300'*/(/"*-
%$0..0//"*-
45"1-&("-0/(
4536$563"-$&--6-04*$
'*#&3#0"3%4)&"5)*/(
("-7300'*/(/"*-
%$0..0//"*-
45"1-&("-0/(
(:146.4)&"5)*/(
(:146.4)&"5)*/(
Ź B<GQ<IDU@?MJJADIB
I<DGNO<KG@B<GQ<IDU@?
Ź GJIBŹ N>M@RN
5TK@8JM4
800%4536$563"-1"/&-4$0.#*/"5*0/46#'-0036/%&3-":.&/550'3".*/(
"/%-&44
%%&'03.&%/"*-03
%$0..0//"*-
%>JHHJI/"*-03
%?@AJMH@?/"*-
%>JHHJI/"*-03
%?@AJMH@?/"*-
'034**/..'005...*-&1&3)063,.)3
</<DGN<M@NHJJOC>JHHJI=JSJM?@AJMH@?NC<IFN@S>@KORC@M@JOC@MRDN@NO<O@?/<DGNPN@?
AJMAM<HDIB<I?NC@<OCDIB>JII@>ODJINNC<GGC<Q@HDIDHPH<Q@M<B@=@I?DIBTD@G?NOM@IBOCN<N
NCJRIFNDAJMNC<IF?D<H@O@MJADI>C ?>JHHJII<DG
FNDAJMNC<IF?D<H@O@MN
G<MB@MOC<IDI>C=POIJOG<MB@MOC<IDI>C<I?FNDAJMNC<IF?D<H@O@MNJADI>C
JMG@NN
=4O<KG@N<M@B<RDM@<I?C<Q@<HDIDHPHJI?D<H@O@M>MJRIRD?OC
>/<DGNNC<GG=@NK<>@?<OIJOHJM@OC<IDI>C@NJI>@IO@M<O<GGNPKKJMONRC@M@NK<IN<M@
JMBM@<O@M
?'JPMAJJO=TAJJOJMAJJO=TAJJOK<I@GNNC<GG=@<KKGD@?Q@MOD><GGT
@4K<>DIBJAA<NO@I@MNIJODI>GP?@?DIOCDNO<=G@NC<GG=@=<N@?JI5<=G@3
A8C@M@OC@PGODH<O@?@NDBIRDI?NK@@?DNHKCJMG@NNI<DGNAJM<OO<>CDIBRJJ?NOMP>OPM<G
K<I@GMJJANC@<OCDIBOJB<=G@@I?R<GGAM<HDIBNC<GG=@NK<>@?DI>C@NJI>@IO@M8C@M@OC@
PGODH<O@?@NDBIRDI?NK@@?DNBM@<O@MOC<IHKCI<DGNAJM<OO<>CDIBK<I@GMJJANC@<OCDIBOJ
DIO@MH@?D<O@NPKKJMONNC<GG=@NK<>@?DI>C@NJI>@IO@MAJMHDIDHPHDI>C?DNO<I>@AMJH
MD?B@N@<Q@N<I?B<=G@@I?R<GGN<I?DI>C@NJI>@IO@MOJB<=G@@I?R<GGAM<HDIB
B(TKNPHNC@<OCDIBNC<GG>JIAJMHOJ"45.$<I?NC<GG=@DINO<GG@?DI<>>JM?<I>@RDOC("
'D=@M=J<M?NC@<OCDIBNC<GG>JIAJMHOJ"45.$
C4K<>DIBJAA<NO@I@MNJIAGJJMNC@<OCDIBK<I@G@?B@N<KKGD@NOJK<I@G@?B@NNPKKJMO@?=T
AM<HDIBH@H=@MN<I?M@LPDM@?=GJ>FDIB<I?<OAGJJMK@MDH@O@MNJIGT4K<>DIBJAA<NO@I@MNJI
MJJANC@<OCDIBK<I@G@?B@N<KKGD@NOJK<I@G@?B@NNPKKJMO@?=TAM<HDIBH@H=@MN<I?M@LPDM@?
=GJ>FDIB#GJ>FDIBJAMJJAJMAGJJMNC@<OCDIBK<I@G@?B@NK@MK@I?D>PG<MOJOC@AM<HDIB
H@H=@MNI@@?IJO=@KMJQD?@?@S>@KO<NM@LPDM@?=TJOC@MKMJQDNDJINJAOCDN>J?@'GJJM
K@MDH@O@MNC<GG=@NPKKJMO@?=TAM<HDIBH@H=@MNJMNJGD?=GJ>FDIB
D8C@M@<M<AO@MDNA<NO@I@?OJ<I<?E<>@IOK<M<GG@G>@DGDIBEJDNODI<>>JM?<I>@RDOCOCDN
N>C@?PG@KMJQD?@ORJOJ@I<DGNJIJI@ND?@JAOC@M<AO@M<I?OJ@I<DGNAMJHOC@>@DGDIBEJDNOOJ
OJKKG<O@DI<>>JM?<I>@RDOCOCDNN>C@?PG@5C@OJ@I<DGJIOC@JKKJNDO@ND?@JAOC@M<AO@MNC<GG
IJO=@M@LPDM@?
<=>
>@
A
A
B
?
Ź B<GQ<IDU@?MJJADIB
I<DGNO<KG@B<GQ<IDU@?
Ź GJIBŹ N>M@RN
5TK@8JM4
?
C
D
5"#-&3
'"45&/&34$)&%6-&>JPIO
5)&$0/53"$5034)"--5)0306()-:*/41&$55)&&9*45*/(
4536$563&"/%4*5&507&3*':%*.&/4*0/4&-&7"5*0/4
&"4&.&/544&5#"$,4&5$"/%%&5"*-45)"5"''&$55)&
803,4)08/0/5)*4%3"8*/("--%*4$3&1"/$*&4$)"/(&4
03.0%*'*$"5*0/45)"5.":"''&$55)*4%&4*(/"/%5)&
4536$563&4)"--#&3&1035&%50,&//&:-&&"3$)*5&$563&
(3061*/$*..&%*"5&-:610/%*4$07&3:"--*446&4"3&50
#&3&40-7&%13*0350130$&&%*/(8*5)$0/4536$5*0/03
$07&3*/(803,
"--%*.&/4*0/4&-&7"5*0/4&"4&.&/54"/%4&5#"$,4
4)"--#&7&3*'*&%8*5)5)&'*/"-1-"5(3"%*/(1-"/
"/%$07&/"/54'035)*446#%*7*4*0/"/%4*5&"--
/&$&44"3:"11307"-44)"--#&0#5"*/&%'30.5)&
(07&3/*/("65)03*5*&413*0350$0/4536$5*0/
"--1)"4&40'$0/4536$5*0/4)"--#&1&3'03.&%*/
"$$03%"/$&8*5)$633&/5#6*-%*/($0%&1307*4*0/4
*3$
-0$"-$0%&4"/%45"/%"3%$0/4536$5*0/
13"$5*$&4
$0//&$5034*/%*$"5&%4)"--#&4*.140/4530/(5*&
03"11307&%&26"-"--$0//&$5034"/%'"45&/&34
4)"--#&*/45"--&%*/"$$03%"/$&8*5)5)&
."/6'"$563&3
441&$*'*$"5*0/4"--/"*-)0-&4"3&50#&
'*--&%8*5)5)&."9*.6.4*;&%'"45&/&3441&$*'*&%#:5)&
."/6'"$563&3
1-:800%"/%03*&/5&%453"/%#0"3% 04#
4)"--#&
45".1&%8*5)"/"1"53"%&."3,&%3"5*/(
6/1305&$5&%'-0038"--"/%300'4)&"5)*/(4)"--#&
&95&3*03(3"%&03&910463&1-:800%"/%04#"3&
*/5&3$)"/(&"#-&8)&/1301&3-:*/45"--&%6/-&44
/05&%05)&38*4&"--'-0038"--"/%300'4)&"5)*/(
4)"--#&*/45"--&%"4'0--084
&95&3*038"--*/$)"1"3"5&%4)&"5)*/( "11-:
4)&"5)*/(50&95&3*03'"$&0'8"--
*/$)0/$&/5&3
41"/3"5*/(
*/45"--?$0..0/03("-7"/*;&%
#09/"*-4"5*/$)&40/$&/5&3"-0/(4611035&%
1"/&-&%(&4"/%"5*/$)&40/$&/5&3"-0/(
*/5&3.&%*"5&46110354/"*-44)"--1&/&53"5&'3".*/(
".*/*.6.0'*/$)&4*/$)-0/(("(&45"1-&4
8*5)"*/$)$308/*4"/"$$&15"#-&"-5&3/"5&4".&
41"$*/(
*/5&3*038"--*/$).*/*.6.(:146.8"--#0"3%
*/45"--5:1&9"43&26*3&%'03'*3&1305&$5*0/
"11-:4)&"5)*/(50*/5&3*03'"$&0'&95&3*038"--4
0350#05)'"$&40'*/5&3*038"--4
(:146.
4)&"5)*/(4)"--#&'"45&/&%501-"5&4"/%456%48*5)
*/$)-0/(("(&/"*-48*5)*/$))&"%03?
$00-&3038"--#0"3%/"*-49*/$)%3:8"--
4$3&84"3&"/"$$&15"#-&"-5&3/"5&'"45&/&3
41"$*/(4)06-%/05&9$&&%*/$)&40/$&/5&3"-0/(
4611035&%1"/&-&%(&4"/%*/$)&40/$&/5&3
"-0/(*/5&3.&%*"5&46110354
'-003*/$)50/(6&"/%(3007&"1"3"5&%4563%*
'-003*/$)0/$&/5&341"/3"5*/(
4)&"5)*/(
4)"--#&(-6&%"/%/"*-&%50"--46110354 +0*454"/%
#&".4
*/45"--?3*/( 034$3&84)"/,/"*-4"5*/$)&4
0/$&/5&3"-0/(4611035&%1"/&-&%(&4"/%"5*/$)&4
0/$&/5&3"-0/(*/5&3.&%*"5&46110354/"*-44)"--
1&/&53"5&'3".*/(".*/*.6.0'*/$)&4?$0..0/
/"*-4.":#&46#45*565&%*'3*/( 034$3&84)"/,/"*-4"3&
/05"7"*-"#-&
300'*/$).*/*.6. */$)3&$0..&/%&%
"1"
3"5&%4)&"5)*/(*/$)0/$&/5&341"/3"5*/(
*/45"--
?$0..0/03("-7"/*;&%#09/"*-4"5*/$)&40/$&/5&3
"-0/(4611035&%1"/&-&%(&4"/%"5*/$)&40/$&/5&3
"-0/(*/5&3.&%*"5&46110354/"*-44)"--1&/&53"5&'3".*/(
".*/*.6.0'*/$)&4*/$)-0/(("(&45"1-&48*5)"
$308/*4"/"$$&15"#-&"-5&3/"5&"*/$)("1*4
3&$0..&/%&%"5"--&%(&"/%&/%+0*/546/-&44*/%*$"5&%
05)&38*4&#:5)&1"/&-."/6'"$563&3
"--53644&44)"--#&%&4*(/&%#:"130'&44*0/"-&/(*/&&3
8*5)$633&/5$0-03"%03&(*453"5*0/5)&53644
."/6'"$563&34)"--41&$*':031307*%&"--3&26*3&%
$0//&$5*0/)"3%8"3&5)*41-"/*4'03*--6453"5*0/0/-:
,&//&:-&&"3$)*5&$563&(3061*/$4)"--#&/05*'*&%
13*0350$0/4536$5*0/
0'"/:$)"/(&4*/5)&53644
#&"3*/(-0$"5*0/403*'#&"."/%)&"%&34*;&4"/%
-0$"5*0/4"3&50#&%*''&3&/55)"/*/%*$"5&%
/05&4
/05&4
'036/*'03.-:-0"%&%)&"%&345)&53*..&34"/%,*/(
456%4*/%*$"5&%0/0/&&/%"3&5:1*$"-'03&"$)&/%
3&'&3505)&1-"/
'-003+0*45/05&4
*/45"--"4*/%*$"5&%0/'3".*/(1-"/4+0*4544)"--#&
*/45"--&%*/"$$03%"/$&8*5)5)&."/6'"$563&3
4
41&$*'*$"5*0/441"/5"#-&4"/%*/45"--"5*0/(6*%&-*/&4
+0*4544)"--#&$0/5*/606407&3*/5&3*0346110354
#&".4
8)&3&1044*#-&+0*4544&3*&4.":#&61(3"%&%
'03*.1307&%%&'-&$5*0/1&3'03."/$&"55)&08/&3
4
"/%035)&$0/53"$503
4%*4$3&5*0/
(&/&3"-/05&4
5)&$0/53"$5034)"--7&3*':"--%*.&/4*0/4&9*45*/(
$0/%*5*0/4&-&7"5*0/465*-*5:-0$"5*0/4&5$8*5)5)&
'*/"-"11307&%"3$)*5&$563"-%3"8*/(4"/%4*5&1-"/
13*0350$0/4536$5*0/"--%*4$3&1"/$*&4$)"/(&403
.0%*'*$"5*0/4505)*4%&4*(/4)"--#&3&1035&%50
,&//&:"/%"440$*"5&4"3$)*5&$54*/$*..&%*"5&-:
610/%*4$07&3:"--*446&4"3&50#&3&40-7&%13*03
50130$&&%*/(8*5)$0/4536$5*0/
5)&&9$"7"5*0/"/%'*--1-"$&.&/5'03'06/%"5*0/
"/%4-"#&-&.&/544)"--#&0#4&37&%#:26"-*'*&%
1&340//&- &/(*/&&3
50&/463&"%&26"5&40*-#&"3*/(
$0/%*5*0/4"/%'005*/(8*%5)413*03501-"$*/("/:
'06/%"5*0/3&*/'03$&.&/5'03.403$0/$3&5&
"--$0/$3&5&4)"--)"7&".*/*.6.$0.13&44*7&
453&/(5)0'14*"5%":4$&.&/54)"--
$0/'03.50"45.$5:1&***41&$*'*$"5*0/4
$0/$3&5&4)"--#&"*3&/53"*/&%#&58&&/"/%
/03."-8&*()5"((3&("5&4)"--$0.1-:8*5)"45.$
41&$*'*$"5*0/4$0/$3&5&4)"--#&0#5"*/&%'30."
4*/(-&4063$&8"5&34)"--#&$-&"/"/%105"#-&
4-6.14)"--/05&9$&&%*/$)&4
3&*/'03$*/(4)"--$0.1-:8*5)"45."
41&$*'*$"5*0/4'03%&'03.&%5:1&(3"%&45&&-
3&*/'03$&.&/54)"--#&"-*(/&%"/%-"11&%*/$)&4
.*/*.6."5"--41-*$&-0$"5*0/4"/%#&5*&%8*5)8*3&"5
".*/*.6.0'
-0$"5*0/441-*$&44)"--#&,&1550"
.*/*.6.3&*/'03$&.&/54)"--#&$0/5*/6064"306/%
$03/&34
$0/$3&5&4)"--#&5)0306()-:803,&%"306/%5)&
3&*/'03$&.&/5"306/%&.#&%%&%'*9563&4"/%*/50
5)&$03/&340''03.4
1305&$5'3&4)-:1-"$&%$0/$3&5&'30.13&."563&
%3:*/("/%%&53*.&/5"-)0503$0-%5&.1&3"563&
&953&.&4$0.1-:8*5)"$*)058&"5)&3$0/$3&5*/(
"/%03"$*$0-%8&"5)&3$0/$3&5*/('03.44)"--
/05#&3&.07&%6/5*-$0/$3&5&)"446''*$*&/5-:$63&%
"--3&*/'03$*/(45&&-"/%$0/$3&5&4)"--#&1-"$&%
*/"$$03%"/$&8*5)"--"11-*$"#-*-%*/($0%&
3&26*3&.&/54'033&*/'03$&%$0/$3&5& "$*
"--'005*/(44)"--#&"3*/5)&4".&/"5*7&
6/%*4563#&%40*-453"56."5".*/*.6.%&15)0'
*/$)&4#&-08'*/*4)&%(3"%&'03'30451305&$5*0/
$0/$3&5&4)"--/05#&1-"$&%0/'30;&/40*-"--
'005*/(44)"--)"7&".*/*.6.5)*$,/&440'*/$)&4"--
-004&40*-4)"--#&3&.07&%'30.5)&'005*/(
&9$"7"5*0/13*03501-"$*/($0/$3&5&
"--$0/$3&5&4-"#44)"--#&*40-"5&%'30.
'06/%"5*0/8"--4$0-6./405)&346110354536$563&4
"/%1*1&48*5)*/$).*/*.6.&91"/4*0/+0*/5."5&3*"-
#&".10$,&54#-0$,0654#3*$,4-"#-&%(&4
8*/%08%00301&/*/(4"/%$)"/(&4*/&-&7"5*0/"-0/(
5)&'06/%"5*0/8"--.":/05#&4)08/"/%"3&5)&
3&410/4*#*-*5:0'5)&$0/53"$50350-0$"5&"/%*/45"--
#"$,'*--4)"--/05#&1-"$&%"("*/45#"4&.&/5
'06/%"5*0/8"--46/5*-5)&'-0034:45&.*4*/1-"$&
6/-&44"%&26"5"$*/(*4*/45"--&%#"$,'*--4)06-%
#&1-"$&%*/&26"--*'540/&"$)4*%&0''06/%"5*0/
8"--48)&3&"11-*$"#-&50130.05&45"#*-*5:#"$,'*--
4)"--#&$0.1"$5&%#:.&$)"/*$"-.&5)0%4*/*/$)
."9*.6.-*'548"5&34&55-*/(0340",*/(*4/05"/
"$$&15"#-&.&5)0%'03$0/40-*%"5*/(5)&'06/%"5*0/
#"$,'*--
501$0-6./#&"3*/(1-"5&44)"--#&99
.*/*.6.
"45&&-03"44611-*&%#:5)&."/6'"$563&3
03"4/05&%501"/%#0550.$0-6./#&"3*/(1-"5&4
4)"--#&4&$63&-:'"45&/&%50#&".4"/%'06/%"5*0/
&-&.&/54
'036/*'03.-:-0"%&%)&"%&345)&53*..&34"/%,*/(
456%4*/%*$"5&%0/0/&&/%"3&5:1*$"-'03&"$)&/%
3&'&3505)&1-"/
-".*/"5&%7&/&&3-6.#&3#&".4/05&% -7-
4)"--
)"7&5)&'0--08*/(.*/*.6.1301&35*&4
'='>'Q"/%& "--
7"-6&4)"7&6/*540'14*
#&".4$0/4536$5&%64*/(%*.&/4*0/"--6.#&3
4)"--#&)&.'*303#&55&3"/%4)"--)"7&5)&
'0--08*/(.*/*.6.#"4&%&4*(/7"-6&4
'='>'Q"/%& "--
7"-6&4)"7&6/*540'14*
1307*%&"/%."*/5"*/104*5*7&%3"*/"(&"8":'30.
"--'06/%"5*0/8"--4"4"(&/&3"-3&$0..&/%"5*0/
4-01&'*/*4)&%(3"%&"8":'30."--'06/%"5*0/8"--4
"5".*/*.6.0''035)&'*345'&&51307*%&"
.*/*.6.4-01&0'5)&3&"'5&3"--463'"$&8"5&3
4)"--'-083"1*%-:"8":'30."--'06/%"5*0/8"--4
01&/*/(4"/%&95&3*03$0/$3&5&'-"5803,
"1&3*.&5&3%3"*/*43&26*3&%50)&-11305&$5
"--#&-08(3"%&41"$&'30.8"5&3*/'*-53"5*0/"
1&3*.&5&3%3"*/.":#&3&26*3&%'03$3"8-41"$&
-&7&-$0/4536$5*0/*'%&&.&%/&$&44"3:"55)&5*.&
0'&9$"7"5*0/(306/%8"5&3&7"-6"5*0/"1&3*.&5&3
%3"*/4)"--#&*/45"--&%3&("3%-&440''06/%"5*0/
5:1&*'4*5&(3"%*/(03%3"*/"(&$0/%*5*0/48"33"/5
*/45"--"5*0/
503&%6$&$3"$,*/(*/5&3*03/0/4536$563"-
$0/$3&5&'-0034-"#44)06-%#&3&*/'03$&%8*5)
3&#"3"5
0/$&/5&3&"$)8":039898
8&-%&%8*3&'"#3*$1-"$&%*/5)&.*%%-&5)*3%0'5)&
4-"#%&15)4-"#44)06-%#&1-"$&%07&3"*/$)
5)*$,.*/*.6.-":&30'$-&"/(3"%&%(3"7&-
3&*/'03$&.&/5*43&$0..&/%&%*//0/4536$563"-4-"#4
)08&7&3*/45"--"5*0/*4-&'5505)&%*4$3&5*0/0'5)&
$0/53"$503
1307*%&$0/530-+0*/54&26"-505)&4-"#
%&15)5)&."9*.6.%*45"/$&#&58&&/$0/530-+0*/54
4)"--/05&9$&&%'&&5#:'&&503426"3&'&&5
3&*/'03$&.&/5*450#&$0/5*/60645)306()$0/530-
+0*/54$0/530-+0*/544)"--#&500-&%%63*/(4-"#
1-"$&.&/5034"8$658*5)*/)0634"'5&31-"$&.&/5
0'5)&4-"#
01&/*/(44)"--#&&/$*3$-&%0/"--4*%&48*5)580
3&#"3
"--426"3&'005*/(4*/$)&48*%&03-"3(&3
4)"--)"7&3&#"3"50/$&/5&3&"$)8":1-"$&%
5)3&&*/$)&4"#07&5)&/"5*7&6/%*4563#&%40*-"--
-004&40*-4)"--#&3&.07&%13*03501-"$*/("/:
'06/%"5*0/$0/$3&5&
.HQQH\/HHDUFKLWHFWXUHJURXSLQF
FKHFNHG
MREQR
VKHHW
GUDZQ
GDWH UHYLVLRQV .HQQH\/HH
DUFKLWHFWXUHJURXSLQF
/RYHODQG &RORUDGR
OC@<M>CDO@>OAMJHM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N$C<IB@NH<?@AMJHOC@KG<INRDOCJPOOC@>JIN@IOJAOC@<M>CDO@>O<M@ PI<POCJMDU@?<I?NC<GGM@GD@Q@OC@<M>CDO@>OJAM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N<MDNDIBJPOJANP>C>C<IB@N
DHK@MA@>O<I?@Q@MT>JIODIB@I>T><IIJO=@<IOD>DK<O@?"IT<H=DBPDOTJM?DN>M@K<I>T?DN>JQ@M@?=TOC@PN@JAOC@N@KG<INNC<GG=@M@KJMO@?DHH@?D<O@GTOJOC@<M>CDO@>O'<DGPM@OJIJODATOC@<M>CDO@>O>JHKJPI?NHDNPI?@MNO<I?DIB<I?DI>M@<N@N
/05*$&%65:0'$001&3"5*0/ 3@G@<N@JAOC@N@KG<IN>JIO@HKG<O@NAPMOC@M>JJK@M<ODJI<HJIBOC@JRI@MCDN>JIOM<>OJM<I?OC@<M>CDO@>O%@NDBI<I?>JINOMP>ODJI<M@>JHKG@S"GOCJPBCOC@<M>CDO@>O<I?CDN>JINPGO<IONC<Q@K@MAJMH@?OC@DMN@MQD>@NRDOC
>JINOMP>ODJI>JNON"A<DGPM@OJ>JJK@M<O@=T<NDHKG@IJOD>@OJOC@<M>CDO@>ONC<GGM@GD@Q@
?P@><M@<I??DGDB@I>@OC@T><IIJOBP<M<IO@@K@MA@>ODJI$JHHPID><ODJIDN
5)*44&5*4/6-- 70*%4)06-%4)5"#&0.*55&%'30.5)*44&5
0F.HH5(6,'(1&(
*$5),(/'67
)RUW&ROOLQV &RORUDGR
4OMP>OPM<G/JO@N
6
E=G
&KHFNHU
3URMHFW
1XPEHU
0/4&1&3"5&$*3$6*54
%6$5-&44'"/4$"//05#&64&%*/
#"5)300.48)&3&"56#034)08&3*4
13&4&/5
&-&$53*$"-065-&544)"--#&*/45"--&%
*/"$$03%"/$&8*5)/&$"35*$-&
&G@>OMD><GIJO@N
QJPOG@O
QJPOG@O
R@<OC@MKMJJAQ
CJO NRDO>C@?
QJPOG@O
AGJJMJPOG@OQ
>@DGDIBHJPIO@?JPOG@OQ
NDIBG@KJG@NRDO>C
R<TNRDO>C
R<TNRDO>C
?DHH@MNRDO>C
><=G@OQ>J<SD<G
O@G@KCJI@%<O<
>@DGDIBHJPIO@?GDBCOADSOPM@
R<GGHJPIO@?GDBCOADSOPM@
C<IBDIB>@DGDIBGDBCOADSOPM@RDOC
=GJ>FDIBOJNPKKJMOG=HDI
>@DGDIBA<I
R<GGN>JI>@
C@<OG<HK
EPI>ODJI=JS
OC@MHJNO<O
@SC<PNOA<I
A<IGDBCO>JH=DI<ODJI
K@I?<IOGDBCO
KG@SJPOG@O
BMJPI?A<PGO
DIO@MMPKO@?
4K@<F@MGJ><ODJI
N@>PMDOTGDBCODIB
NHJF@?@O@>OJM
M@>@NN@N@?>@DGDIB
HJPIO@?><IGDBCO
AGPJM@N@IOOP=@GDBCOADSOPM@
NDU@K@MKG<I
KMJQD?@><M=JIHJIJSD?@?@O@>OJM
JI@<>CNOJMT<I?DIC<GGR<TJM
@IOMT<M@<OJ<GGNG@@KDIBMJJHN
>JJM?DI<O@DIO@MI@O<I?>JHKPO@M
I@ORJMFGJ><ODJINRDOCJRI@MNKMDJM
OJADIDNCDIBR<GGNRJMFJOC@MOC<I
>JJM?DI<ODJIDNID>
KMJQD?@<GGI@>@NN<MT@G@>OMD><GKJR@M
AJMH@>C<ID><GMJJH@LPDKH@IOFDO>C@I
<KKGD<I>@N<I?G<PI?MTMJJH
<KKGD<I>@N
>JJM?DI<O@RKJR@M<POCJMDOTM@
GJ><ODJIJA@G@>OK<I@G
>JIOM<>OJM<I?JMJRI@MOJK@MAJMH
<R<GFOCMPRDOC@G@>OMD>D<IKMDJMOJ
<ITDINO<G<ODJI
.HQQH\/HHDUFKLWHFWXUHJURXSLQF
FKHFNHG
MREQR
VKHHW
GUDZQ
GDWH UHYLVLRQV .HQQH\/HH
DUFKLWHFWXUHJURXSLQF
/RYHODQG &RORUDGR
OC@<M>CDO@>OAMJHM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N$C<IB@NH<?@AMJHOC@KG<INRDOCJPOOC@>JIN@IOJAOC@<M>CDO@>O<M@ PI<POCJMDU@?<I?NC<GGM@GD@Q@OC@<M>CDO@>OJAM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N<MDNDIBJPOJANP>C>C<IB@N
DHK@MA@>O<I?@Q@MT>JIODIB@I>T><IIJO=@<IOD>DK<O@?"IT<H=DBPDOTJM?DN>M@K<I>T?DN>JQ@M@?=TOC@PN@JAOC@N@KG<INNC<GG=@M@KJMO@?DHH@?D<O@GTOJOC@<M>CDO@>O'<DGPM@OJIJODATOC@<M>CDO@>O>JHKJPI?NHDNPI?@MNO<I?DIB<I?DI>M@<N@N
/05*$&%65:0'$001&3"5*0/ 3@G@<N@JAOC@N@KG<IN>JIO@HKG<O@NAPMOC@M>JJK@M<ODJI<HJIBOC@JRI@MCDN>JIOM<>OJM<I?OC@<M>CDO@>O%@NDBI<I?>JINOMP>ODJI<M@>JHKG@S"GOCJPBCOC@<M>CDO@>O<I?CDN>JINPGO<IONC<Q@K@MAJMH@?OC@DMN@MQD>@NRDOC
>JINOMP>ODJI>JNON"A<DGPM@OJ>JJK@M<O@=T<NDHKG@IJOD>@OJOC@<M>CDO@>ONC<GGM@GD@Q@
?P@><M@<I??DGDB@I>@OC@T><IIJOBP<M<IO@@K@MA@>ODJI$JHHPID><ODJIDN
5)*44&5*4/6-- 70*%4)06-%4)5"#&0.*55&%'30.5)*44&5
0F.HH5(6,'(1&(
*$5),(/'67
)RUW&ROOLQV &RORUDGR
6KK@M-@Q@G&G@>OMD><G1G<I
(
E=G
&KHFNHU
3URMHFW
1XPEHU
6KK@
M-@Q@G&G@>OMD><G1G<I
1305&$5*0/"41&3/&$ "-407&3*':
"/:"%%*5*0/"--0$"-3&26*3&.&/54
$0/53"$50350'*&-%7&3*':"--
&-&$53*$"-8*5)08/&3 "3$)*5&$5
13*0350*/45"--"5*0/
$-&"3*/(4'03'63/"$&50#&1&3
.'3-*45*/(4
$0/53"$503501307*%&"/
"--08"/$&*/#*%'03"--)"/(*/(
'*9563&446$)"4'"/4$)"/%&-*&34
&5$4)08/0/1-"/
&-&$53*$"-4:45&.(306/%50#&
1307*%&%1&3/&$
1307*%&-&/4&4'03"--'-063&4$&/5
56#&'*9563&4
."*/-*()548*5$)*/,*5$)&/50#&
$0//50'-063&4$&/5'*9563&4
1307*%&3&$*3$16.10/8"5&3
)&"5&3*/46-"5&"--)058"5&3-*/&4
8*5)3.*/*/46-"5*0/ 6/0
4.0,&%&5&$503450#&1&3."/&/5-:
8*3&%50)064&$*3$6*5
,*5$)&/-*()54"/%"11-*"/$&450#&
0/4&1&3"5&$*3$6*54
%6$5-&44'"/4$"//05#&64&%*/
#"5)300.48)&3&"56#034)08&3*4
13&4&/5
&-&$53*$"-065-&544)"--#&*/45"--&%
*/"$$03%"/$&8*5)/&$"35*$-&
&G@>OMD><GIJO@N
QJPOG@O
QJPOG@O
R@<OC@MKMJJAQ
CJO NRDO>C@?
QJPOG@O
AGJJMJPOG@OQ
>@DGDIBHJPIO@?JPOG@OQ
NDIBG@KJG@NRDO>C
R<TNRDO>C
R<TNRDO>C
?DHH@MNRDO>C
><=G@OQ>J<SD<G
O@G@KCJI@%<O<
>@DGDIBHJPIO@?GDBCOADSOPM@
R<GGHJPIO@?GDBCOADSOPM@
C<IBDIB>@DGDIBGDBCOADSOPM@RDOC
=GJ>FDIBOJNPKKJMOG=HDI
>@DGDIBA<I
R<GGN>JI>@
C@<OG<HK
EPI>ODJI=JS
OC@MHJNO<O
@SC<PNOA<I
A<IGDBCO>JH=DI<ODJI
K@I?<IOGDBCO
KG@SJPOG@O
BMJPI?A<PGO
DIO@MMPKO@?
4K@<F@MGJ><ODJI
N@>PMDOTGDBCODIB
NHJF@?@O@>OJM
M@>@NN@N@?>@DGDIB
HJPIO@?><IGDBCO
AGPJM@N@IOOP=@GDBCOADSOPM@
NDU@K@MKG<I
KMJQD?@><M=JIHJIJSD?@?@O@>OJM
JI@<>CNOJMT<I?DIC<GGR<TJM
@IOMT<M@<OJ<GGNG@@KDIBMJJHN
>JJM?DI<O@DIO@MI@O<I?>JHKPO@M
I@ORJMFGJ><ODJINRDOCJRI@MNKMDJM
OJADIDNCDIBR<GGNRJMFJOC@MOC<I
>JJM?DI<ODJIDNID>
KMJQD?@<GGI@>@NN<MT@G@>OMD><GKJR@M
AJMH@>C<ID><GMJJH@LPDKH@IOFDO>C@I
<KKGD<I>@N<I?G<PI?MTMJJH
<KKGD<I>@N
>JJM?DI<O@RKJR@M<POCJMDOTM@
GJ><ODJIJA@G@>OK<I@G
>JIOM<>OJM<I?JMJRI@MOJK@MAJMH
<R<GFOCMPRDOC@G@>OMD>D<IKMDJMOJ
<ITDINO<G<ODJI
.HQQH\/HHDUFKLWHFWXUHJURXSLQF
FKHFNHG
MREQR
VKHHW
GUDZQ
GDWH UHYLVLRQV .HQQH\/HH
DUFKLWHFWXUHJURXSLQF
/RYHODQG &RORUDGR
OC@<M>CDO@>OAMJHM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N$C<IB@NH<?@AMJHOC@KG<INRDOCJPOOC@>JIN@IOJAOC@<M>CDO@>O<M@ PI<POCJMDU@?<I?NC<GGM@GD@Q@OC@<M>CDO@>OJAM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N<MDNDIBJPOJANP>C>C<IB@N
DHK@MA@>O<I?@Q@MT>JIODIB@I>T><IIJO=@<IOD>DK<O@?"IT<H=DBPDOTJM?DN>M@K<I>T?DN>JQ@M@?=TOC@PN@JAOC@N@KG<INNC<GG=@M@KJMO@?DHH@?D<O@GTOJOC@<M>CDO@>O'<DGPM@OJIJODATOC@<M>CDO@>O>JHKJPI?NHDNPI?@MNO<I?DIB<I?DI>M@<N@N
/05*$&%65:0'$001&3"5*0/ 3@G@<N@JAOC@N@KG<IN>JIO@HKG<O@NAPMOC@M>JJK@M<ODJI<HJIBOC@JRI@MCDN>JIOM<>OJM<I?OC@<M>CDO@>O%@NDBI<I?>JINOMP>ODJI<M@>JHKG@S"GOCJPBCOC@<M>CDO@>O<I?CDN>JINPGO<IONC<Q@K@MAJMH@?OC@DMN@MQD>@NRDOC
>JINOMP>ODJI>JNON"A<DGPM@OJ>JJK@M<O@=T<NDHKG@IJOD>@OJOC@<M>CDO@>ONC<GGM@GD@Q@
?P@><M@<I??DGDB@I>@OC@T><IIJOBP<M<IO@@K@MA@>ODJI$JHHPID><ODJIDN
5)*44&5*4/6-- 70*%4)06-%4)5"#&0.*55&%'30.5)*44&5
0F.HH5(6,'(1&(
*$5),(/'67
)RUW&ROOLQV &RORUDGR
.<DI-@Q@G&G@>OMD><G1G<I
(
E=G
&KHFNHU
3URMHFW
1XPEHU
. <DI-
@Q@G&G@>OMD><G1G<I
@G@>OMD><GNTH=GJN
QJPOG@O
AGJJMJPOG@OQ
>@DGDIBHJPIO@?JPOG@OQ
NDIBG@KJG@NRDO>C
R<TNRDO>C
R<TNRDO>C
?DHH@MNRDO>C
><=G@OQ>J<SD<G
O@G@KCJI@%<O<
>@DGDIBHJPIO@?GDBCOADSOPM@
R<GGHJPIO@?GDBCOADSOPM@
C<IBDIB>@DGDIBGDBCOADSOPM@RDOC
=GJ>FDIBOJNPKKJMOG=HDI
>@DGDIBA<I
R<GGN>JI>@
C@<OG<HK
EPI>ODJI=JS
OC@MHJNO<O
@SC<PNOA<I
A<IGDBCO>JH=DI<ODJI
K@I?<IOGDBCO
KG@SJPOG@O
BMJPI?A<PGO
DIO@MMPKO@?
4K@<F@MGJ><ODJI
N@>PMDOTGDBCODIB
NHJF@?@O@>OJM
M@>@NN@N@?>@DGDIB
HJPIO@?><IGDBCO
AGPJM@N@IOOP=@GDBCOADSOPM@
NDU@K@MKG<I
"--&95&3*03065-&5450#&
8&"5)&31300'"/%('*1305&$5&%
-*()5*/('*9563&40$$63*/("#07&56#4
034)08&344)"--#&8"5&31300'
1305&$5&%
"--065-&54 3&$&15"$-&4*/,*5$)&/4
#"5)465*-*5:"3&"4#"3"3&"4"/%
065-&54*/("3"(&4)"--)"7&('*
1305&$5*0/"41&3/&$ "-407&3*':
"/:"%%*5*0/"--0$"-3&26*3&.&/54
$0/53"$50350'*&-%7&3*':"--
&-&$53*$"-8*5)08/&3 "3$)*5&$5
13*0350*/45"--"5*0/
$-&"3*/(4'03'63/"$&50#&1&3
.'3-*45*/(4
$0/53"$503501307*%&"/
"--08"/$&*/#*%'03"--)"/(*/(
'*9563&446$)"4'"/4$)"/%&-*&34
&5$4)08/0/1-"/
&-&$53*$"-4:45&.(306/%50#&
1307*%&%1&3/&$
1307*%&-&/4&4'03"--'-063&4$&/5
56#&'*9563&4
."*/-*()548*5$)*/,*5$)&/50#&
$0//50'-063&4$&/5'*9563&4
1307*%&3&$*3$16.10/8"5&3
)&"5&3*/46-"5&"--)058"5&3-*/&4
8*5)3.*/*/46-"5*0/ 6/0
4.0,&%&5&$503450#&1&3."/&/5-:
8*3&%50)064&$*3$6*5
,*5$)&/-*()54"/%"11-*"/$&450#&
0/4&1&3"5&$*3$6*54
%6$5-&44'"/4$"//05#&64&%*/
#"5)300.48)&3&"56#034)08&3*4
13&4&/5
&-&$53*$"-065-&544)"--#&*/45"--&%
*/"$$03%"/$&8*5)/&$"35*$-&
&G@>OMD><GIJO@N
KMJQD?@><M=JIHJIJSD?@?@O@>OJM
JI@<>CNOJMT<I?DIC<GGR<TJM
@IOMT<M@<OJ<GGNG@@KDIBMJJHN
>JJM?DI<O@DIO@MI@O<I?>JHKPO@M
I@ORJMFGJ><ODJINRDOCJRI@MNKMDJM
OJADIDNCDIBR<GGNRJMFJOC@MOC<I
>JJM?DI<ODJIDNID>
KMJQD?@<GGI@>@NN<MT@G@>OMD><GKJR@M
AJMH@>C<ID><GMJJH@LPDKH@IOFDO>C@I
<KKGD<I>@N<I?G<PI?MTMJJH
<KKGD<I>@N
>JJM?DI<O@RKJR@M<POCJMDOTM@
GJ><ODJIJA@G@>OK<I@G
>JIOM<>OJM<I?JMJRI@MOJK@MAJMH
<R<GFOCMPRDOC@G@>OMD>D<IKMDJMOJ
<ITDINO<G<ODJI
.HQQH\/HHDUFKLWHFWXUHJURXSLQF
FKHFNHG
MREQR
VKHHW
GUDZQ
GDWH UHYLVLRQV .HQQH\/HH
DUFKLWHFWXUHJURXSLQF
/RYHODQG &RORUDGR
OC@<M>CDO@>OAMJHM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N$C<IB@NH<?@AMJHOC@KG<INRDOCJPOOC@>JIN@IOJAOC@<M>CDO@>O<M@ PI<POCJMDU@?<I?NC<GGM@GD@Q@OC@<M>CDO@>OJAM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N<MDNDIBJPOJANP>C>C<IB@N
DHK@MA@>O<I?@Q@MT>JIODIB@I>T><IIJO=@<IOD>DK<O@?"IT<H=DBPDOTJM?DN>M@K<I>T?DN>JQ@M@?=TOC@PN@JAOC@N@KG<INNC<GG=@M@KJMO@?DHH@?D<O@GTOJOC@<M>CDO@>O'<DGPM@OJIJODATOC@<M>CDO@>O>JHKJPI?NHDNPI?@MNO<I?DIB<I?DI>M@<N@N
/05*$&%65:0'$001&3"5*0/ 3@G@<N@JAOC@N@KG<IN>JIO@HKG<O@NAPMOC@M>JJK@M<ODJI<HJIBOC@JRI@MCDN>JIOM<>OJM<I?OC@<M>CDO@>O%@NDBI<I?>JINOMP>ODJI<M@>JHKG@S"GOCJPBCOC@<M>CDO@>O<I?CDN>JINPGO<IONC<Q@K@MAJMH@?OC@DMN@MQD>@NRDOC
>JINOMP>ODJI>JNON"A<DGPM@OJ>JJK@M<O@=T<NDHKG@IJOD>@OJOC@<M>CDO@>ONC<GGM@GD@Q@
?P@><M@<I??DGDB@I>@OC@T><IIJOBP<M<IO@@K@MA@>ODJI$JHHPID><ODJIDN
5)*44&5*4/6-- 70*%4)06-%4)5"#&0.*55&%'30.5)*44&5
0F.HH5(6,'(1&(
*$5),(/'67
)RUW&ROOLQV &RORUDGR
#<N@H@IO&G@>OMD><G1G<I
(
E=G
&KHFNHU
3URMHFW
1XPEHU
- JR@
M-@Q@G&G@>OMD><G1G<I
'03$&%"*36/*54
1 '*3&1-"$&
"*3#"33*&350#&*/45"--&%0/'*3&1-"$&8"--4
'*3&1-"$&450)"7&("4,&5&%%0034
*&$$3&26*3&.&/54
$-*."5&;0/& 5"#-&3
#
*/46-"5*0/ '&/&453"5*0/3&26*3&.&/54 5"#-&3
8*/%086'"$503
4,:-*()56'"$503
4)($/0.*/
$-(37"-6&
800%8"--37"-6&$"7*5:JM
$"7*5:1-64$0/5
'-00337"-6&
#"4&.&/58"--37"-6&$0/5*/6064JM
$"7*5:
4-"#37"-6&'03'5%&&1.*/
$3"8-41"$&37"-6&$0/5*/6064JM
$"7*5:
"--*/46-"5*0/50#&"4'0--084
46#$0/53"$503507&3*':8%&7&-01&3
'03"/:41&$*"--0$"5*0/450#&*/46-"5&%
*/46-"5&)058"5&3-*/&483.*/*/46-
.*/*.6.45"*38*%5)50#&$-34&&
'-0031-"/'038*%5)
45"*33*4&3450#&>1*/&0304#
(-6&% 4$3&8&%50453*/(&343*4&
)&*()5"/%26"/5*5:1&34&$5*0/4
45"*353&"%450#&53&"%
."5&3*"-(-6&% /"*-&%50453*/(&34
53&"%/04&50/04&
453*/(&3450#&$0/4536$5&%8
S
N"41&3$0/53"$503!&"$)36/
6/0
1307*%&".*/
$-3)&"%300.50
/04*/(0'53&"%4
"--)"/%3"*-450$0.1-:8*5)4&$
3 *3$
"--(6"3%450$0.1-:8*5)4&$
3 *3$
."901&/*/(#&58&&/"--1*$,&540'
"--)"/%3"*-4 (6"3%3"*-450#&
*'"/:45"*34"3&'"#3*$"5&%0''4*5&
#:05)&345)&/4)01%3"8*/(4"3&
50#&46#.*55&%50"/%"11307&%#:
5)&"3$)*5&$513*0350'"#3*$"5*0/
$
$
&94#. 9
"446.&%
'06/%"5*0/
&9*45*/(9'-003
4536$
&9*45*/(9'-003
4536$
."*/-&7&-
&95&3*038"--4
-DQDIB%DIDIB
3JJH
F*5$)&/
@/53:
#&:0/%
C"--
#&:0/%
8* #&%300.
$-0 #"5)300.
91&34536$
S
4*45&3-7-1&3
4536$
%301#.1&3
4563$
%301-7-1&34563$
%301-7-1&34563$
91&34536$
$
$
#<OCMJJH
-DQDIB%DIDIB
3JJH
@SDNODIB
=<N@H@IO
NK<>@
3JJH
#"5)300.
#"4&.&/5
."*/-&7&-
&95&3*038"--4
&9*45*/(
45"*3450
3&."*/
&9*45*/(
45"*3450
3&."*/
/&8)"/%
3"*-
)"/%3"*-
/&8)"/%3"*-
)"/%3"*-
-088"--
-7-K@M4536$
%301-7-1&3
4563$
.HQQH\/HHDUFKLWHFWXUHJURXSLQF
FKHFNHG
MREQR
VKHHW
GUDZQ
GDWH UHYLVLRQV .HQQH\/HH
DUFKLWHFWXUHJURXSLQF
/RYHODQG &RORUDGR
OC@<M>CDO@>OAMJHM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N$C<IB@NH<?@AMJHOC@KG<INRDOCJPOOC@>JIN@IOJAOC@<M>CDO@>O<M@ PI<POCJMDU@?<I?NC<GGM@GD@Q@OC@<M>CDO@>OJAM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N<MDNDIBJPOJANP>C>C<IB@N
DHK@MA@>O<I?@Q@MT>JIODIB@I>T><IIJO=@<IOD>DK<O@?"IT<H=DBPDOTJM?DN>M@K<I>T?DN>JQ@M@?=TOC@PN@JAOC@N@KG<INNC<GG=@M@KJMO@?DHH@?D<O@GTOJOC@<M>CDO@>O'<DGPM@OJIJODATOC@<M>CDO@>O>JHKJPI?NHDNPI?@MNO<I?DIB<I?DI>M@<N@N
/05*$&%65:0'$001&3"5*0/ 3@G@<N@JAOC@N@KG<IN>JIO@HKG<O@NAPMOC@M>JJK@M<ODJI<HJIBOC@JRI@MCDN>JIOM<>OJM<I?OC@<M>CDO@>O%@NDBI<I?>JINOMP>ODJI<M@>JHKG@S"GOCJPBCOC@<M>CDO@>O<I?CDN>JINPGO<IONC<Q@K@MAJMH@?OC@DMN@MQD>@NRDOC
>JINOMP>ODJI>JNON"A<DGPM@OJ>JJK@M<O@=T<NDHKG@IJOD>@OJOC@<M>CDO@>ONC<GGM@GD@Q@
?P@><M@<I??DGDB@I>@OC@T><IIJOBP<M<IO@@K@MA@>ODJI$JHHPID><ODJIDN
5)*44&5*4/6-- 70*%4)06-%4)5"#&0.*55&%'30.5)*44&5
0F.HH5(6,'(1&(
*$5),(/'67
)RUW&ROOLQV &RORUDGR
#PDG?DIB4@>ODJIN
$
E=G
&KHFNHU
3URMHFW
1XPEHU
"*3#"33*&3/05&4
45"*3/05&4 */46-"5*0//05&4
4@ >ODJI
"
4@ >ODJI
#
JKODJI<G
A<PS=H
OC@<M>CDO@>OAMJHM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N$C<IB@NH<?@AMJHOC@KG<INRDOCJPOOC@>JIN@IOJAOC@<M>CDO@>O<M@ PI<POCJMDU@?<I?NC<GGM@GD@Q@OC@<M>CDO@>OJAM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N<MDNDIBJPOJANP>C>C<IB@N
DHK@MA@>O<I?@Q@MT>JIODIB@I>T><IIJO=@<IOD>DK<O@?"IT<H=DBPDOTJM?DN>M@K<I>T?DN>JQ@M@?=TOC@PN@JAOC@N@KG<INNC<GG=@M@KJMO@?DHH@?D<O@GTOJOC@<M>CDO@>O'<DGPM@OJIJODATOC@<M>CDO@>O>JHKJPI?NHDNPI?@MNO<I?DIB<I?DI>M@<N@N
/05*$&%65:0'$001&3"5*0/ 3@G@<N@JAOC@N@KG<IN>JIO@HKG<O@NAPMOC@M>JJK@M<ODJI<HJIBOC@JRI@MCDN>JIOM<>OJM<I?OC@<M>CDO@>O%@NDBI<I?>JINOMP>ODJI<M@>JHKG@S"GOCJPBCOC@<M>CDO@>O<I?CDN>JINPGO<IONC<Q@K@MAJMH@?OC@DMN@MQD>@NRDOC
>JINOMP>ODJI>JNON"A<DGPM@OJ>JJK@M<O@=T<NDHKG@IJOD>@OJOC@<M>CDO@>ONC<GGM@GD@Q@
?P@><M@<I??DGDB@I>@OC@T><IIJOBP<M<IO@@K@MA@>ODJI$JHHPID><ODJIDN
5)*44&5*4/6-- 70*%4)06-%4)5"#&0.*55&%'30.5)*44&5
0F.HH5(6,'(1&(
*$5),(/'67
)RUW&ROOLQV &RORUDGR
&SO@MDJM&G@Q<ODJIN
$
E=G
&KHFNHU
3URMHFW
1XPEHU
/ JMOC
& <NO
4JPOC
8@ NO
-":&340''&-5
(655&348)&3&*/%*$"5&%1&31-"/50#&
4&".-&444)5.&5"- 7&3*':808/&3
"--4)5.&5"-300'1&/&53"5*0/450#&
1"*/5&%50."5$)$0-030'.045
"%+"$&/5300'*/(
"--7"--&:450)"7&$0/54)5.&5"-
'-"4)*/(
"--7"--&:450#&$-04&%5:1&
*/45"--"5*0/
1307*%&300'7&/5*-"50/"41&3
4&$3 *3$
300''3".*/(1&353644&/(*/&&3
.HQQH\/HHDUFKLWHFWXUHJURXSLQF
FKHFNHG
MREQR
VKHHW
GUDZQ
GDWH UHYLVLRQV .HQQH\/HH
DUFKLWHFWXUHJURXSLQF
/RYHODQG &RORUDGR
OC@<M>CDO@>OAMJHM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N$C<IB@NH<?@AMJHOC@KG<INRDOCJPOOC@>JIN@IOJAOC@<M>CDO@>O<M@ PI<POCJMDU@?<I?NC<GGM@GD@Q@OC@<M>CDO@>OJAM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N<MDNDIBJPOJANP>C>C<IB@N
DHK@MA@>O<I?@Q@MT>JIODIB@I>T><IIJO=@<IOD>DK<O@?"IT<H=DBPDOTJM?DN>M@K<I>T?DN>JQ@M@?=TOC@PN@JAOC@N@KG<INNC<GG=@M@KJMO@?DHH@?D<O@GTOJOC@<M>CDO@>O'<DGPM@OJIJODATOC@<M>CDO@>O>JHKJPI?NHDNPI?@MNO<I?DIB<I?DI>M@<N@N
/05*$&%65:0'$001&3"5*0/ 3@G@<N@JAOC@N@KG<IN>JIO@HKG<O@NAPMOC@M>JJK@M<ODJI<HJIBOC@JRI@MCDN>JIOM<>OJM<I?OC@<M>CDO@>O%@NDBI<I?>JINOMP>ODJI<M@>JHKG@S"GOCJPBCOC@<M>CDO@>O<I?CDN>JINPGO<IONC<Q@K@MAJMH@?OC@DMN@MQD>@NRDOC
>JINOMP>ODJI>JNON"A<DGPM@OJ>JJK@M<O@=T<NDHKG@IJOD>@OJOC@<M>CDO@>ONC<GGM@GD@Q@
?P@><M@<I??DGDB@I>@OC@T><IIJOBP<M<IO@@K@MA@>ODJI$JHHPID><ODJIDN
5)*44&5*4/6-- 70*%4)06-%4)5"#&0.*55&%'30.5)*44&5
0F.HH5(6,'(1&(
*$5),(/'67
)RUW&ROOLQV &RORUDGR
3JJA%M<DI<B@1G<I
$
E=G
&KHFNHU
3URMHFW
1XPEHU
3JJA%
M<DI<B@1G<I
300'*/(/05&4
"55*$
#&/$)$6#=*&
&9*45*/(&/53:300'503&."*/
/&8NC@?300'
07&3I@R%&$,
I&8?003
%003
$6550'*5
.HQQH\/HHDUFKLWHFWXUHJURXSLQF
FKHFNHG
MREQR
VKHHW
GUDZQ
GDWH UHYLVLRQV .HQQH\/HH
DUFKLWHFWXUHJURXSLQF
/RYHODQG &RORUDGR
OC@<M>CDO@>OAMJHM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N$C<IB@NH<?@AMJHOC@KG<INRDOCJPOOC@>JIN@IOJAOC@<M>CDO@>O<M@ PI<POCJMDU@?<I?NC<GGM@GD@Q@OC@<M>CDO@>OJAM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N<MDNDIBJPOJANP>C>C<IB@N
DHK@MA@>O<I?@Q@MT>JIODIB@I>T><IIJO=@<IOD>DK<O@?"IT<H=DBPDOTJM?DN>M@K<I>T?DN>JQ@M@?=TOC@PN@JAOC@N@KG<INNC<GG=@M@KJMO@?DHH@?D<O@GTOJOC@<M>CDO@>O'<DGPM@OJIJODATOC@<M>CDO@>O>JHKJPI?NHDNPI?@MNO<I?DIB<I?DI>M@<N@N
/05*$&%65:0'$001&3"5*0/ 3@G@<N@JAOC@N@KG<IN>JIO@HKG<O@NAPMOC@M>JJK@M<ODJI<HJIBOC@JRI@MCDN>JIOM<>OJM<I?OC@<M>CDO@>O%@NDBI<I?>JINOMP>ODJI<M@>JHKG@S"GOCJPBCOC@<M>CDO@>O<I?CDN>JINPGO<IONC<Q@K@MAJMH@?OC@DMN@MQD>@NRDOC
>JINOMP>ODJI>JNON"A<DGPM@OJ>JJK@M<O@=T<NDHKG@IJOD>@OJOC@<M>CDO@>ONC<GGM@GD@Q@
?P@><M@<I??DGDB@I>@OC@T><IIJOBP<M<IO@@K@MA@>ODJI$JHHPID><ODJIDN
5)*44&5*4/6-- 70*%4)06-%4)5"#&0.*55&%'30.5)*44&5
0F.HH5(6,'(1&(
*$5),(/'67
)RUW&ROOLQV &RORUDGR
6KK@M-@Q@G'GJJM1G<I
$
E=G
&KHFNHU
3URMHFW
1XPEHU
6KK@
M-@Q@G
8DI?JR4>C@?PG@
.<MF $JHH@ION
& /@R8DI?JRDI&SDNODIBJK@IDIB
>JIOM<>OJMOJQ@MDATNDU@
%JJM4>C@?PG@
.<MF $JHH@ION
& @9*45*/(%003503&."*/
/I&8?003
I&8?003
I&8?003
I&8?003
I&8?003
I&8?003
&
& &
&
&
&
&
&
&
&
&
Q@MDAT@BM@NN
M N
/
/
&
/
/
/
M"*-*/(*'
(3&"5&35)"/
"#07&
(3"%&
M"*-*/(*'
(3&"5&35)"/
"#07&
(3"%&
K@MBJG<
07&3/&8&/53:
M N
I&8?003
#&/$)
104541&3
4536$
9'3".*/(
1&34536$
"55"$)9-&%(&3
1&34536$
"%%)&"%&34
508*/%084"/%
01&/*/(1&3
4536$
9-&%(&3
1&34536$
104541&3
4536$
91&3
4536$
?MJK=@<H
?MJK=@<H
?MJK=@<H
?MJK=@<H
?MJK=@<H
JKODJI<GA<PS=H
>JJM?RJRI@M
JKODJI<GA<PS=H
>JJM?RJRI@M
JKODJI<GA<PS=H
>JJM?RJRI@M
?MJK=@<H
91&3
4536$
JKODJI<GA<PS=H
>JJM?RJRI@M
.HQQH\/HHDUFKLWHFWXUHJURXSLQF
FKHFNHG
MREQR
VKHHW
GUDZQ
GDWH UHYLVLRQV .HQQH\/HH
DUFKLWHFWXUHJURXSLQF
/RYHODQG &RORUDGR
OC@<M>CDO@>OAMJHM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N$C<IB@NH<?@AMJHOC@KG<INRDOCJPOOC@>JIN@IOJAOC@<M>CDO@>O<M@ PI<POCJMDU@?<I?NC<GGM@GD@Q@OC@<M>CDO@>OJAM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N<MDNDIBJPOJANP>C>C<IB@N
DHK@MA@>O<I?@Q@MT>JIODIB@I>T><IIJO=@<IOD>DK<O@?"IT<H=DBPDOTJM?DN>M@K<I>T?DN>JQ@M@?=TOC@PN@JAOC@N@KG<INNC<GG=@M@KJMO@?DHH@?D<O@GTOJOC@<M>CDO@>O'<DGPM@OJIJODATOC@<M>CDO@>O>JHKJPI?NHDNPI?@MNO<I?DIB<I?DI>M@<N@N
/05*$&%65:0'$001&3"5*0/ 3@G@<N@JAOC@N@KG<IN>JIO@HKG<O@NAPMOC@M>JJK@M<ODJI<HJIBOC@JRI@MCDN>JIOM<>OJM<I?OC@<M>CDO@>O%@NDBI<I?>JINOMP>ODJI<M@>JHKG@S"GOCJPBCOC@<M>CDO@>O<I?CDN>JINPGO<IONC<Q@K@MAJMH@?OC@DMN@MQD>@NRDOC
>JINOMP>ODJI>JNON"A<DGPM@OJ>JJK@M<O@=T<NDHKG@IJOD>@OJOC@<M>CDO@>ONC<GGM@GD@Q@
?P@><M@<I??DGDB@I>@OC@T><IIJOBP<M<IO@@K@MA@>ODJI$JHHPID><ODJIDN
5)*44&5*4/6-- 70*%4)06-%4)5"#&0.*55&%'30.5)*44&5
0F.HH5(6,'(1&(
*$5),(/'67
)RUW&ROOLQV &RORUDGR
.<DI-@Q@G'GJJM1G<I
$
E=G
&KHFNHU
3URMHFW
1XPEHU
. <DI-
@Q@G'GJJM1G<I
8DI?JR4>C@?PG@
.<MF $JHH@ION
& /@R8DI?JRDI&SDNODIBJK@IDIB
>JIOM<>OJMOJQ@MDATNDU@
%JJM4>C@?PG@
.<MF $JHH@ION
&@9*45*/(%003503&."*/
/ I&8?003
-7-K@M4536$
4*45&3+0*45K@M
4536$
4*45&3+0*45K@M
4536$
>JGK@M@IBM
>M<RG
NK<>@
>M<RG
NK<>@
KJNON<I?
AJPI?<ODJIK@M
NOMP>
KJNON<I?
AJPI?<ODJIK@M
NOMP>
<GG<IBG@N<M@ JM
PIG@NNIJO@?JOC@MRDN@
.HQQH\/HHDUFKLWHFWXUHJURXSLQF
FKHFNHG
MREQR
VKHHW
GUDZQ
GDWH UHYLVLRQV .HQQH\/HH
DUFKLWHFWXUHJURXSLQF
/RYHODQG &RORUDGR
OC@<M>CDO@>OAMJHM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N$C<IB@NH<?@AMJHOC@KG<INRDOCJPOOC@>JIN@IOJAOC@<M>CDO@>O<M@ PI<POCJMDU@?<I?NC<GGM@GD@Q@OC@<M>CDO@>OJAM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N<MDNDIBJPOJANP>C>C<IB@N
DHK@MA@>O<I?@Q@MT>JIODIB@I>T><IIJO=@<IOD>DK<O@?"IT<H=DBPDOTJM?DN>M@K<I>T?DN>JQ@M@?=TOC@PN@JAOC@N@KG<INNC<GG=@M@KJMO@?DHH@?D<O@GTOJOC@<M>CDO@>O'<DGPM@OJIJODATOC@<M>CDO@>O>JHKJPI?NHDNPI?@MNO<I?DIB<I?DI>M@<N@N
/05*$&%65:0'$001&3"5*0/ 3@G@<N@JAOC@N@KG<IN>JIO@HKG<O@NAPMOC@M>JJK@M<ODJI<HJIBOC@JRI@MCDN>JIOM<>OJM<I?OC@<M>CDO@>O%@NDBI<I?>JINOMP>ODJI<M@>JHKG@S"GOCJPBCOC@<M>CDO@>O<I?CDN>JINPGO<IONC<Q@K@MAJMH@?OC@DMN@MQD>@NRDOC
>JINOMP>ODJI>JNON"A<DGPM@OJ>JJK@M<O@=T<NDHKG@IJOD>@OJOC@<M>CDO@>ONC<GGM@GD@Q@
?P@><M@<I??DGDB@I>@OC@T><IIJOBP<M<IO@@K@MA@>ODJI$JHHPID><ODJIDN
5)*44&5*4/6-- 70*%4)06-%4)5"#&0.*55&%'30.5)*44&5
0F.HH5(6,'(1&(
*$5),(/'67
)RUW&ROOLQV &RORUDGR
#<N@H@IO'GJJM1G<I
$
E=G
&KHFNHU
3URMHFW
1XPEHU
# <N@
H@IO'GJJM1G<I
OC@<M>CDO@>OAMJHM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N$C<IB@NH<?@AMJHOC@KG<INRDOCJPOOC@>JIN@IOJAOC@<M>CDO@>O<M@ PI<POCJMDU@?<I?NC<GGM@GD@Q@OC@<M>CDO@>OJAM@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N<MDNDIBJPOJANP>C>C<IB@N
DHK@MA@>O<I?@Q@MT>JIODIB@I>T><IIJO=@<IOD>DK<O@?"IT<H=DBPDOTJM?DN>M@K<I>T?DN>JQ@M@?=TOC@PN@JAOC@N@KG<INNC<GG=@M@KJMO@?DHH@?D<O@GTOJOC@<M>CDO@>O'<DGPM@OJIJODATOC@<M>CDO@>O>JHKJPI?NHDNPI?@MNO<I?DIB<I?DI>M@<N@N
/05*$&%65:0'$001&3"5*0/ 3@G@<N@JAOC@N@KG<IN>JIO@HKG<O@NAPMOC@M>JJK@M<ODJI<HJIBOC@JRI@MCDN>JIOM<>OJM<I?OC@<M>CDO@>O%@NDBI<I?>JINOMP>ODJI<M@>JHKG@S"GOCJPBCOC@<M>CDO@>O<I?CDN>JINPGO<IONC<Q@K@MAJMH@?OC@DMN@MQD>@NRDOC
>JINOMP>ODJI>JNON"A<DGPM@OJ>JJK@M<O@=T<NDHKG@IJOD>@OJOC@<M>CDO@>ONC<GGM@GD@Q@
?P@><M@<I??DGDB@I>@OC@T><IIJOBP<M<IO@@K@MA@>ODJI$JHHPID><ODJIDN
5)*44&5*4/6-- 70*%4)06-%4)5"#&0.*55&%'30.5)*44&5
0F.HH5(6,'(1&(
*$5),(/'67
)RUW&ROOLQV &RORUDGR
."*/-&7&-%&.01-"/
$
E=G
&KHFNHU
3URMHFW
1XPEHU
. <DI-
@Q@G%@HJ1G<I
8DI?JR4>C@?PG@
.<MF $JHH@ION
& /@R8DI?JRDI&SDNODIBJK@IDIB
>JIOM<>OJMOJQ@MDATNDU@
&BM@NN8DI?JR "O-@<NO0I@8DI?JRDI<GG#@?MJJHNOJC<Q@<$G@<M
&BM@NNJK@IDIBJA42'OR.*/%*.JADI)@DBCO<I?DI8D?OC4DGG
)@DBCO/JO(M@<O@MOC<I"=JQ@'GJJM
1MJQD?@4JGD?#GJ>FDIB#@CDI?<GG5JR@G#<MN7@MDAT-J><ODJINRDOC
0RI@M
"GG,I@@8<GGNOJ=@4@>PM@?OCMP'GJJMN<OOC@DM@I?N
5C@M@<M@HPGODKG@*INODGG<ODJI1JNND=DGDOD@NAJMOC@&G@>OMD><GNTNO@H
<I?DON>JHKJI@ION"-D>@IN@?&G@>OMD>D<INC<GG<?<KOOC@&G@>OMD><G
4TNO@HOJOCDN1G<IDI">>JM?<I>@RDOC-J><G$J?@
"GG$<=DI@O-<TJPODI#<OCMJJHN,DO>C@IN -<PI?MT<M@AJM
3@A@M@I>@JIGT0RI@MOJ"MM<IB@ADI<G-<TJPORDOC$<=DI@O.'31MDJMOJ
$JINOMP>ODJI
(@I@M<G/JO@N
,&//&:-&&"3$)*5&$563&(3061*/$
&"45'0635)453&&5
-07&-"/%$0-03"%0
$0
"3$)*5&$5
08/&3
4536$563"-&/(*/&&3
("3:8&&,4
8&&,4 "440$*"5&4*/$
4$0--&(&"7&46*5&
'035$0--*/4$0
4)"8/ #3*%(&5.$,&&
("3'*&-%45
'035$0--*/4$0
$JINPGO<ION
"#
"%+
#0'
#-%(
#-,
#.
#4
$"#
$*1
$-(
$-3
$.6
$0/$
$0/5
$0//
$4,
%#-
%'
%*"
%/
%8(
&"
&'
&2
&4
&8
'%
'%/
''
'-3
'/
'5
"/$)03#0-5
"%+645"#-&
#0550.0''5(
#6*-%*/(
#-0$,
#&".
#0550.0'45-
$"#*/&5
$"45*/1-"$&
$&*-*/(
$-&"3
$0/$."40/3:6/*5
$0/$3&5&
$0/5*/6064
$0//&$5*0/
$06/5&34*/,
%06#-&
%06(-"4'*3
%*".&5&3
%08/
%3"8*/(
&"$)
&"$)'"$&
&26"-
&"$)4*%&
&"$)8":
'-003%3"*/
'06/%"5*0/
'*/*4)'-003
'-003
'*&-%/"*-
'&&5
("
(-
)
-(
-5
.#
.-
.5-
/*$
0$
0)$
1
15
3"%
3 4
4 1
4)
4*.
42
45-
50'
504
508
54
5:1
6/0
7
8%
88'
-
("6(&
(-"44
)03*;0/5"-
-0/(
-*()5
."$)*/�-5
.*$30-".
.&5"-
/05*/$0/53"$5
0/$&/5&3
07&3)&"%$"#*/&5
5011-"5&03
1301&35:-*/&
13&4463&53&"5&%
3"%*64
30%"/%4)&-'
4)&-'"/%10-&
4)&-'
4*.*-"3
426"3&
45&&-
5010''06/%"5*0/
5010'4-"#
5010'8"--
56#&45&&-
5:1*$"-
6/-&44/05&%
05)&38*4&
7&35*$"-
800%
8&-%&%8*3&'"#3*$
"==M@QD<ODJIN
*NNP@?AJM&IBDI@@MDIB
DNNP@?AJM1@MHDO
.HQQH\/HHDUFKLWHFWXUHJURXSLQF
VKHHW
/RYHODQG &RORUDGR
.HQQH\/HH
DUFKLWHFWXUHJURXSLQF
3/$15(/($6(+,6725<
/05*$&%65:0'$001&3"5*0/ 3@G@<N@JAOC@N@KG<IN>JIO@HKG<O@NAPMOC@M>JJK@M<ODJI<HJIBOC@JRI@MCDN>JIOM<>OJM<I?OC@<M>CDO@>O
%@NDBI<I?>JINOMP>ODJI<M@>JHKG@S"GOCJPBCOC@<M>CDO@>O<I?CDN>JINPGO<IONC<Q@K@MAJMH@?OC@DMN@MQD>@NRDOC?P@><M@<I??DGDB@I>@
OC@T><IIJOBP<M<IO@@K@MA@>ODJI$JHHPID><ODJIDNDHK@MA@>O<I?@Q@MT>JIODIB@I>T><IIJO=@<IOD>DK<O@? "IT<H=DBPDOTJM?DN>M@K<I>T
?DN>JQ@M@?=TOC@PN@JAOC@N@KG<INNC<GG=@M@KJMO@?DHH@?D<O@GTOJOC@<M>CDO@>O'<DGPM@OJIJODATOC@<M>CDO@>O>JHKJPI?NHDNPI?@MNO<I?DIB
<I?DI>M@<N@N>JINOMP>ODJI>JNON"A<DGPM@OJ>JJK@M<O@=T<NDHKG@IJOD>@OJOC@<M>CDO@>ONC<GGM@GD@Q@OC@<M>CDO@>OAMJHM@NKJIND=DGDOT
AJM<GG>JIN@LP@I>@N$C<IB@NH<?@AMJHOC@KG<INRDOCJPOOC@>JIN@IOJAOC@<M>CDO@>O<M@PI<POCJMDU@?<I?NC<GGM@GD@Q@OC@<M>CDO@>OJA
M@NKJIND=DGDOTAJM<GG>JIN@LP@I>@N<MDNDIBJPOJANP>C>C<IB@N
0F.HH5(6,'(1&(
*$5),(/'67
)RUW&ROOLQV &RORUDGR
0F.HH5(6,'(1&(
*$5),(/'
67
)RUW&ROOLQV &RORUDGR
$
4C@@O*I?@S
"M>CDO@>OPM<G
" $JQ@M4C@@O
" ."*/-&7&-%&.01-"/
" #<N@H@IO'GJJM1G<I
" .<DI-@Q@G'GJJM1G<I
" 6KK@M-@Q@G'GJJM1G<I
" 3JJA%M<DI<B@1G<I
" &SO@MDJM&G@Q<ODJIN
" #PDG?DIB4@>ODJIN
" 1&341&$5*7&4
4OMP>OPM<G
4 4OMP>OPM<G/JO@N
4 'JPI?<ODJI<I?'M<HDIB1G<I
4 4OMP>OPM<G%@O<DGN
&G@>OMD><G
& #<N@H@IO&G@>OMD><G1G<I
& .<DI-@Q@G&G@>OMD><G1G<I
& 6KK@M-@Q@G&G@>OMD><G1G<I