{"url_path":"/sec/efty/10-k/2026/item-6","section_key":"item-6","section_title":"Item 6 Directors, Senior Management and Employees**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/2058349/0001213900-26-056086-index.html","accession_number":"0001213900-26-056086","cik":"0002058349","ticker":"EFTY","issuer_name":"ETOILES CAPITAL GROUP CO., LTD","edgar_url":"https://www.sec.gov/Archives/edgar/data/2058349/0001213900-26-056086-index.html","primary_entity_key":"0002058349","primary_entity_name":"ETOILES CAPITAL GROUP CO., LTD"},"word_count":3903,"has_tables":true,"body_markdown":"**Item 6.\nDirectors, Senior Management and Employees**\n\n \n\n**6.A.\nDirectors and Senior Management**\n\n \n\nThe\nfollowing table provides information regarding our directors and executive officers as of the date of this annual report:\n\n \n\n**Name**\n \n**Age**\n \n**Position**\n\nKit Shing, CHEUNG\n \n34\n \nDirector, Chief Executive\nOfficer, and Chairman of the Board of Directors\n\nHon Fai, TAM\n \n42\n \nChief Financial Officer\n\nZhihan, LOU\n \n31\n \nChief Operating Officer\n\nQi, DING\n \n55\n \nIndependent Director\n\nYeung Tak, CHEN\n \n41\n \nIndependent Director\n\nHeung Ping WONG\n \n44\n \nIndependent Director\n\n** **\n\n**Kit\nShing, CHEUNG** is a Director, Chief Executive Officer and Chair of the board of the Company. Mr. Cheung is responsible for the\ngeneral corporate strategy, overall management of our operations and business expansion. Mr. Cheung has over 7 years of experience\nin business management. Mr. Cheung joined Etoiles Consultancy in September 2023 and has become our Chief Executive Officer\nsince February 2025. Since 2021, Mr. Cheung has been a project manager and director of Everway Creation Limited. From 2016 to 2021,\nMr. Cheung was a senior relation manager of Industrial Bank Co., Ltd. From August 2022 to June 2023, Mr. Cheung was\nan executive director of Future World Holdings Limited (HKEx: 00572), a company listed on the Stock Exchange of Hong Kong Limited.\nMr. Cheung obtained a bachelor’s degree in science from the University of Toronto in 2015.\n\n** **\n\n**Hon\nFai, TAM** is the Chief Financial Officer of the Company. Mr. Tam has over 18 years of experience in the accounting, financing\nand auditing industry. Mr. Tam has become our Chief Financial Officer since February 2025. Since April 2023, Mr. Tam has\nbeen a company secretary of WK Group (Holdings) Limited (HKEx: 02535), a company listed on the Stock Exchange of Hong Kong Limited.\nSince June 2020, Mr. Tam has been a director of Marksman Services Group Limited. Since October 2020, Mr. Tam has\nbeen a director of IPA CPA Limited. From December 2020 to February 2022, Mr. Tam was a company secretary of Sino Vision\nWorldwide Holdings Limited, a company formerly listed on the Stock Exchange of Hong Kong. From August 2019 to September 2024,\nMr. Tam was an independent non-executive director of China Next-Gen Commerce and Supply Chain Limited (HKEx: 03928), a company listed\non the Stock Exchange of Hong Kong Limited. From January 2012 to November 2022, Mr. Tam was an audit partner of CTY &\nCo., a CPA firm. From September 2006 to August 2011, Mr. Tam worked in the audit department of Deloitte Touche Tohmatsu.\nMr. Tam obtained a bachelor’s degree of business administration in accounting from the Hong Kong University of Science\nand Technology in 2006. Mr. Tam has been a member of the Hong Kong Institute of Certified Public Accountants since January 2010\nand is currently a fellow member of the Hong Kong Institute of Certified Public Accountants.\n\n** **\n\n**Zhihan,\nLOU** is the Chief Operating Officer of the Company. Mr. Lou has over 5 years of experience in public relations, investor relations\nand communications industry. Mr. Lou has become our Chief Operating Officer since February 2025. Since February 2024, Mr. Lou has been\nthe general manager of Etoiles Financial. From October 2023 to February 2024, Mr. Lou served as a consultant of Valuable Capital Limited,\na company engaged in strategic consulting. From November 2019 to October 2023, Mr. Lou served as a deputy director of Wonderful Sky Financial\nGroup Limited, a company engaged in initial public offering consultation and financial public relation. Mr. Lou obtained a masters of\narts degree in communication from the Hong Kong Baptist University and a bachelor’s degree of broadcasting from the Zhejiang University\nof Technology in 2017 and 2016, respectively.\n\n** **\n\n41\n\n \n\n** **\n\n**Qi, DING** is an independent director of\nthe Company. Ms. Ding has over 30 years of experience in the financial services industry, with extensive expertise in asset management,\nsecurities, investment banking, and commercial banking. Since June 2022, Ms. Ding has been an executive director and a responsible officer\n(Types 1, 4 and 9) of Huasheng Asset Management Limited. From October 2019 to December 2021, she served as the managing director and\na responsible officer (Types 1, 4 and 9) of JX Securities (Hong Kong) Limited. Ms. Ding obtained a bachelor’s degree in international\nfinance from the Central University of Finance and Economics in 1993. She is a holder of Type 1, 4, and 9 licenses issued by the Hong\nKong Securities and Futures Commission and possesses senior executive qualifications for fund management in mainland China.\n\n** **\n\n**Yeung\nTak, CHEN** is an independent director of the Company. Mr. Chen has over 15 years of experience in auditing, accounting, financial\nmanagement, treasury, internal control, corporate governance, and company secretarial matters. He graduated from The Hong Kong Polytechnic\nUniversity with a bachelor’s degree of arts in accountancy in December 2006. He has been a member of the Hong Kong Institute of\nCertified Public Accountants since January 2011 and was admitted as a fellow in September 2021. Mr. Chen is also a CPA (Practising) registered\nwith the Accounting and Financial Reporting Council. From December 2017 to December 2021, he served as an independent non-executive director\nof AV Promotions Holdings Limited (HKEx: 8419), a company listed on the Stock Exchange of Hong Kong Limited. He is currently the company\nsecretary of Kingland Group Holdings Limited (HKEx: 1751), a company listed on the Stock Exchange of Hong Kong Limited, and served as\nits executive director from May 2020 to June 2022. Mr. Chen also serves as an independent non-executive director of DT Capital Limited\n(HKEx: 356), WEIli Holdings Limited (HKEx: 2372), and Gain Plus Holdings Limited (HKEx: 9900), all of which being companies listed on\nthe Stock Exchange of Hong Kong Limited. Additionally, he has been an independent director of Onion Global Limited, a company formerly\nlisted on the New York Stock Exchange (NYSE: OG) and currently listed on the U.S. OTC Market (OTC: OGBLY) since March 2022.\n\n** **\n\n**Heung\nPing WONG**is an director of the Company. Mr. Wong as over 18 years of experience in journalism and financial services. Since 2013,\nMr. Wong has been serving as a senior consultant at AIA International Limited. From 2007 to 2013, Mr. Wong was a senior reporter at the\nHong Kong Economic Times. Mr. Wong obtained a Bachelor of Business Administration from Hong Kong Baptist University in 2007.\n\n** **\n\n**Family\nRelationships**\n\n \n\nNone\nof the directors or executive officers have a family relationship as defined in Item 401 of Regulation S-K.\n\n** **\n\n**Involvement\nin Certain Legal Proceedings**\n\n \n\nTo\nthe best of our knowledge, none of our directors, director appointees or executive officers has, during the past ten years, been\ninvolved in any legal proceedings described in subparagraph (f) of Item 401 of Regulation S-K.\n\n \n\n42\n\n \n\n \n\n**6.B.\nCompensation** \n\n \n\nFor the year ended December 31, 2025, 2024 and\n2023, the aggregate cash compensation and benefits that we paid to the executive officers and directors were HK$1,200,000 (approximately\nUS$154,000), HK$1,751,836 (approximately US$224,508) and HK$200,000 (approximately US$25,545), as compensation to our directors and executive\nofficers, as well as an aggregate of HK$36,000 (approximately US$4,600), HK$68,550 (approximately US$8,785) and HK$4,500 (approximately\nUS$575) as contributions by the Operating Subsidiary to the Mandatory Provident Fund (“MPF”), a statutory retirement scheme\nintroduced after the enactment of the Mandatory Provident Fund Schemes Ordinance in Hong Kong, respectively.\n\n \n\nFor the fiscal year ended December 31, 2025, 2024\nand 2023, the aggregate cash compensation and benefits that we paid to the non-executive directors were HK$172,650, (approximately\nUS$22,000), as compensation to our non-executive directors.\n\n \n\nExcept\nour contribution to the MPF, we have not set aside or accrued any amount to provide pension, retirement, or other similar benefits to\nour directors, executive officers and non-executive directors. We do not have any equity incentive plan in place as of the date\nof this annual report.\n\n \n\n**Employment\nAgreements and Director Agreements**\n\n \n\nWe\nhave entered into employment agreements with each of our executive officers. Under these agreements, each of our executive officers is\nemployed for a specific time period. We may terminate employment for cause for certain acts of executive officers, such as commission\nof any serious or persistent breach or non-observance of the terms and conditions of the employment, conviction of a criminal offense,\nwillful disobedience of a lawful and reasonable order, fraud or dishonesty, receipt of bribery, or severe neglect of his or her duties.\nWe may also terminate an executive officer’s employment without cause upon providing three-months advance written notice. An executive\nofficer may resign anytime with a three-month advance written notice.\n\n \n\nEach\nexecutive officer has agreed to hold, during his or her employment and after the termination or expiry of his or her employment agreement,\nin strict confidence and not to use, except as required in the performance of his or her duties in connection with the employment or\npursuant to applicable law, any of our confidential information or trade secrets, any confidential information or trade secrets of our\nclients or prospective customers, or the confidential or proprietary information of any third party received by us and for which we have\nconfidential obligations.\n\n \n\nWe\nwill also enter into indemnification agreements with each of our directors and executive officers. Under these agreements, we will agree\nto indemnify our directors and executive officers against certain liabilities and expenses incurred by such person in connection with\nclaims made by reason of their being a director or officer of our company.\n\n \n\nUnder our employment agreement with our Chief Executive Officer, Kit\nShing, CHEUNG, we agreed that, for a three-year term, unless terminated earlier in accordance with its terms, we will pay Mr. Cheung an\nannual salary of $153,840. Mr. Cheung will be provided with standard executive benefits. The Company will also provide standard indemnification\nand directors’ and officers’ insurance. The Company may terminate Mr. Cheung’s employment by giving at least three months’\nwritten notice. All other compensation shall cease as of the date of termination and the Company shall pay all previously earned, accrued\nand unpaid compensation. Mr. Cheung is also subject to standard confidentiality provision.\n\n \n\nUnder our employment agreement with our Chief Financial Officer, Hon\nFai, TAM, we agreed that, for a three-year term, unless terminated earlier in accordance with its terms, we will pay Mr. Tam an annual\nsalary of $36,000. Mr. Tam will be provided with standard executive benefits. The Company will also provide standard indemnification and\ndirectors’ and officers’ insurance. The Company may terminate Mr. Tam’s employment by giving at least three months’\nwritten notice. All other compensation shall cease as of the date of termination and the Company shall pay all previously earned, accrued\nand unpaid compensation. Mr. Tam is also subject to standard confidentiality provision.\n\n \n\nUnder our employment agreement with our Chief Operating Officer, Zhihan,\nLOU, we agreed that, for a three-year term, unless terminated earlier in accordance with its terms, we will pay Mr. Lou an annual salary\nof nil. Mr. Lou will be provided with standard executive benefits. The Company will also provide standard indemnification and directors’\nand officers’ insurance. The Company may terminate Mr. Lou’s employment by giving at least three months’ written notice.\nAll other compensation shall cease as of the date of termination and the Company shall pay all previously earned, accrued and unpaid compensation.\nMr. Lou is also subject to standard confidentiality provision.\n\n \n\n43\n\n \n\n \n\n**Agreements\nwith independent directors**\n\n \n\nWe\nentered into director offer letters with each of our independent directors which agreements set forth the terms and provisions of their\nengagement.\n\n \n\n**Equity\nCompensation Plan Information**\n\n \n\nWe\nhave not adopted any equity compensation plans.\n\n \n\n**Outstanding\nEquity Awards at Fiscal Year-End**\n\n \n\nAs\nof December 31, 2025, 2024 and 2023, we had no outstanding equity awards.\n\n \n\n**6.C.\nBoard Practices**\n\n \n\n**Board\nof Directors**\n\n \n\nOur\nboard of directors consists of 4 Directors, comprising 1 executive Directors and 3 independent Directors. A director is not required\nto hold any shares in our Company to qualify to serve as a director.\n\n \n\nA\ndirector may vote in respect of any contract or transaction in which he is interested, provided, however that the nature of the interest\nof any director in any such contract or transaction shall be disclosed by him at or prior to its consideration and any vote on that matter.\nA general notice or disclosure to the directors or otherwise contained in the minutes of a meeting or a written resolution of the directors\nor any committee thereof of the nature of a director’s interest shall be sufficient disclosure and after such general notice it\nshall not be necessary to give special notice relating to any particular transaction. A director may be counted for a quorum upon a motion\nin respect of any contract or arrangement which he shall make with our company, or in which he is so interested and may vote on such\nmotion. ** ** \n\n** **\n\n**Committees\nof the Board of Directors**\n\n \n\nWe\nhave established three committees under the board of directors: of an Audit Committee, a Compensation Committee and a Nominating Committee.\nEven though we are exempted from corporate governance standards because we are a foreign private issuer, we have voluntarily adopted\na charter for each of the three committees. Each committee’s members and functions are described below.\n\n \n\nOur audit committee consists of Ms. Qi, DING, Mr. Heung Ping WONG,\nand Mr. Yeung Tak, CHEN. Mr. Yeung Tak, CHEN is be the chairperson of our audit committee. The audit committee will oversee our accounting\nand financial reporting processes and the audits of the financial statements of our company. The audit committee will be responsible for,\namong other things:\n\n \n\n \n●\nappointing the independent auditors and pre-approving all auditing\nand non-auditing services permitted to be performed by the independent auditors;\n\n \n \n \n\n \n●\nreviewing with the independent auditors any audit problems\nor difficulties and management’s response;\n\n \n \n \n\n \n●\ndiscussing the annual audited financial statements with management\nand the independent auditors;\n\n \n \n \n\n \n●\nreviewing the adequacy and effectiveness of our accounting\nand internal control policies and procedures and any steps taken to monitor and control major financial risk exposures;\n\n \n \n \n\n \n●\nreviewing and approving all proposed related-party transactions;\n\n \n \n \n\n \n●\nmeeting separately and periodically with management and the\nindependent auditors; and\n\n \n \n \n\n \n●\nmonitoring compliance with our code of business conduct and\nethics, including reviewing the adequacy and effectiveness of our procedures to ensure proper compliance.\n\n \n\n44\n\n \n\n \n\n*Compensation\nCommittee.*Our compensation committee consists of Ms. Qi, DING, Mr. Heung Ping WONG, Ms. Qi, DING is the chairperson of our\ncompensation committee. We have determined that each of our compensation committee members satisfies the “independence”\nrequirements of Rule 5605(a)(2) of the Nasdaq rules. The compensation committee will assist the board in reviewing and\napproving the compensation structure, including all forms of compensation, relating to our directors and executive officers. Our\nchief executive officer may not be present at any committee meeting during which his compensation is deliberated. The compensation\ncommittee will be responsible for, among other things:\n\n \n\n \n●\nreviewing and approving, or recommending to the board for its\napproval, the compensation for our chief executive officer and other executive officers;\n\n \n \n \n\n \n●\nreviewing and recommending to the board for determination with\nrespect to the compensation of our non-employee directors;\n\n \n \n \n\n \n●\nreviewing periodically and approving any incentive compensation\nor equity plans, programs, or similar arrangements; and\n\n \n \n \n\n \n●\nselecting compensation consultant, legal counsel, or other\nadviser only after taking into consideration all factors relevant to that person’s independence from management.\n\n* *\n\n*Nominating\nand Corporate Governance Committee.*Our nominating and corporate governance committee consists of Ms. Qi, DING, Mr. Heung Ping WONG,\nand Mr. Yeung Tak, CHEN., Mr. Heung Ping WONG is the chairperson of our nominating and corporate governance committee. We have determined\nthat each of our nominating and corporate governance committee members satisfies the “independence” requirements of Rule 5605(a)(2) of\nthe Nasdaq rules. The nominating and corporate governance committee will assist the board of directors in selecting individuals qualified\nto become our directors and in determining the composition of the board and its committees. The nominating and corporate governance committee\nwill be responsible for, among other things:\n\n \n\n \n●\nselecting and recommending to the board nominees for election\nby the shareholders or appointment by the board;\n\n \n \n \n\n \n●\nreviewing annually with the board the current composition of\nthe board in regard to characteristics such as independence, knowledge, skills, experience, and diversity;\n\n \n \n \n\n \n●\nmaking recommendations on the frequency and structure of board\nmeetings and monitoring the functioning of the committees of the board; and\n\n \n \n \n\n \n●\nadvising the board periodically in regard to significant developments\nin the law and practice of corporate governance, as well as our compliance with applicable laws and regulations, and making recommendations\nto the board on all matters of corporate governance and on any remedial action to be taken.\n\n \n\n**Duties\nof Directors**\n\n \n\nUnder\nCayman Islands law, our directors owe fiduciary duties to our company. These include, among others (i) duty to act in good faith\nin what the director believes to be in the best interests of the company as a whole; (ii) duty to exercise powers for the purposes\nfor which those powers were conferred and not for a collateral purpose; (iii) directors should not improperly fetter the exercise\nof future discretion; (iv) duty not to put themselves in a position in which there is a conflict between their duty to the company\nand their personal interests; and (v) duty to exercise independent judgment. In addition to the above, our directors also owe a\nduty to act with skill, care and diligence. This duty has been defined as a requirement to act as a reasonably diligent person having\nboth the general knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried\nout by that director in relation to the company and the general knowledge skill and experience which that director has.\n\n \n\nOur\nboard of directors has all the powers necessary for managing, and for directing and supervising, our business affairs. The functions\nand powers of our board of directors include, among others:\n\n \n\n \n●\nconvening shareholders’ annual and extraordinary general\nmeetings and reporting its work to shareholders at such meetings;\n\n \n \n \n\n \n●\ndeclaring dividends and distributions;\n\n \n \n \n\n \n●\nappointing officers and determining the term of office of the\nofficers;\n\n \n\n45\n\n \n\n \n\n \n●\nexercising the borrowing powers of our company and mortgaging\nthe property of our company; and\n\n \n \n \n\n \n●\napproving the transfer of Shares in our company, including\nthe registration of such Shares in our Share register.\n\n \n\n**Remuneration**\n\n \n\nThe\ndirectors may receive such remuneration as our board of directors may determine from time to time. The compensation committee will assist\nthe directors in reviewing and approving the compensation structure for the directors.\n\n** **\n\n**Qualification**\n\n \n\nThere\nare no membership qualifications for directors. Further, there are no share ownership qualifications for directors. There are no other\narrangements or understandings pursuant to which our directors are selected or nominated.\n\n** **\n\n**Meetings\nof directors**\n\n \n\nOur\nbusiness and affairs are managed by our board of directors, who will make decisions by voting on resolutions of directors. Our directors\nare free to meet at such times and in such manner and places within or outside the Cayman Islands as the directors determine to be necessary\nor desirable. At any meeting of directors, the quorum for the transaction of business shall be one unless the directors fix some other\nnumber. An action that may be taken by the directors at a meeting may also be taken by a resolution of directors consented to in writing\nby all of the directors\n\n** **\n\n**6.D\nEmployees**\n\n \n\nWe and our Operating Subsidiaries employed a total of 24 full-time\nemployees, as of December 31, 2025. The following table sets forth a breakdown of our employees by function:\n\n \n\n  \nNumber of Employees \n\nFunctional Area \nDecember 31,\n\n2025  \nDecember 31,\n\n2024  \nDecember 31,\n\n2023 \n\nManagement \n 1  \n 1  \n 1 \n\nInvestor Relationship \n 7  \n 4  \n — \n\nResearch \n 6  \n 5  \n — \n\nSales and Marketing \n 6  \n 1  \n — \n\nFinance and Administration \n 4  \n 1  \n — \n\nTotal \n 24  \n 12  \n 1 \n\n \n\nWe\nconsider that we have maintained a good relationship with our employees and have not experienced any significant disputes with our employees\nor any disruption to our operations due to any labor disputes. In addition, we have not experienced any difficulties in the recruitment\nand retention of experienced core staff or skilled personnel.\n\n \n\nOur remuneration package includes salary and discretionary bonuses.\nIn general, we determine employees’ salaries based on their qualifications, position and seniority. In order to attract and retain\nvaluable employees, we review the performance of our employees annually which will be taken into account in annual salary review and promotion\nappraisal.\n\n \n\n46\n\n \n\n \n\n**6.E. Share Ownership**\n\n \n\nThe following table sets forth information regarding the beneficial\nownership of our Class A Ordinary Shares and Class B Ordinary Shares as of the date of this annual report by our officers, Directors,\nand 5% or greater beneficial owners of our Class A Ordinary Shares and Class B Ordinary Shares. There is no other person or group of affiliated\npersons known by us to beneficially own more than 5% of our Class A Ordinary Shares and Class B Ordinary Shares.\n\n \n\nHolders\nof our Class A Ordinary Shares are entitled to one (1) vote per share and holders of our Class B Ordinary Shares are entitled\nto ten (10) votes per share. In no event shall Class A Ordinary Shares be convertible into Class B Ordinary Shares. Each\nClass B Ordinary Share is convertible into one fully paid Class A Ordinary Share at the option of the holder, at any time after issue\nand without the payment of any additional sum.\n\n \n\nWe have determined beneficial ownership in accordance with the rules\nof the SEC. These rules generally attribute beneficial ownership of securities to persons who possess sole or shared voting power\nor investment power with respect to those securities. As of the date of this annual report, the percentage of Shares beneficially owned\nis based on 20,110,000 Ordinary Shares, consisting of 15,110,000 Class A Ordinary Shares and 5,000,000 Class B Ordinary Shares\noutstanding. None of the shareholders are located in the United States. We do not have any options or warrants that are outstanding.\nUnless otherwise indicated, the person identified in this table has sole voting and investment power with respect to all shares shown\nas beneficially owned by him, subject to applicable community property laws.\n\n \n\n  \n**Class A Ordinary Shares Beneficially Owned(2)**  \n**Class B Ordinary Shares Beneficially Owned(2)**  \n% of Total\nVoting \n\n**Name of Beneficial Owners(1)**  \nNumber  \n%  \nNumber  \n%  \nPower**(2)** \n\nDirectors and Executive Officers: \n    \n    \n    \n    \n   \n\nKit Shing, CHEUNG(3) \n 10,287,000  \n 68.08  \n 5,000,000  \n 100% \n 92.59%\n\nHon Fai, TAM \n —  \n —  \n —  \n —  \n — \n\nZhihan, LOU \n —  \n —  \n —  \n —  \n — \n\nQi, DING \n —  \n —  \n —  \n —  \n — \n\nHeung Ping WONG \n —  \n —  \n —  \n —  \n — \n\n  \n    \n    \n    \n    \n   \n\nAll directors and executive officers as a group \n 10,287,000  \n 68.08  \n 5,000,000  \n 100% \n 92.59%\n\n5% shareholders: \n    \n    \n    \n    \n   \n\nEtoiles Zeneo Investment Limited(3) \n 10,287,000  \n 68.08  \n 5,000,000  \n 100% \n 92.59%\n\n \n\nAs\nof the date of this annual report, none of our outstanding Shares are held by record holders in the United States.\n\n \n\n*\nLess than 1%.\n\n \n \n\n(1)Unless\notherwise noted, the business address of each of the following entities or individuals is\nUnit 03-04, 25/F, Cosco Tower, 183 Queen’s Road Central, Sheung Wan, Hong Kong.\n\n  \n\n(2)Applicable\npercentage of ownership is based on 20,110,000 Ordinary Shares, consisting of 15,110,000\nClass A Ordinary Shares and 5,000,000 Class B Ordinary Shares outstanding of the date of this annual report.\n\n  \n\n(3)Comprised\nof 10,287,000 Class A Ordinary Shares and 5,000,000 Class B Ordinary Shares owned\nby Etoiles Zeneo Investment Limited, which entities are all wholly-owned by Mr. Kit\nShing, CHEUNG. Therefore, Mr. Kit Shing, CHEUNG has the voting and dispositive\ncontrol over the shares held by each of these entities.\n\n \n\n**6.F.\nDisclosure of a Registrant’s Action to Recover Erroneously Awarded Compensation.**\n\n \n\nNot\napplicable."}