EM 4 Who We Are The Palmer Knight Company1 (hereinafter referred to as “the Company”, “we”, “us” and “our”) was founded by A. Palmer Knight in 1985 as a fee for service registered investment advisor2 offering money management services3 to assist you, our client4, achieve long-term growth and capital appreciation in your investment portfolio. Owners The following persons control the Company: Name Title CRD# A. Palmer Knight Chairman 272316 C. Davis Knight President & Chief Compliance Officer 3202997 Assets Under Management As of December 31, 2022, our assets under management totaled: Client Discretionary Managed Accounts ......................... $212,310,583 We do not offer non-discretionary investment management services. Our Mission Our mission is to capture the tremendous growth potential that is available in today's financial markets without exposing assets to risk levels that are inappropriate for you or counterproductive to your goals. We maintain one overall objective – structure and implement investment strategies designed to maximize wealth, maintain investment expectation, and minimize risk. What We Do We manage diversified portfolios of primarily equity (“stock”) positions and fixed income/debt (“bond”) instruments. Depending on our market research, analysis of securities, and review of company earnings reports, your investment portfolio will consist of those securities that we feel can beat popular market indices over a complete market cycle. Your investment portfolio will include of one or a combination of these investment approaches: 1 In 1985, A. Palmer Knight became a majority shareholder of Canipelli & Company, Inc. and changed the name to Canipelli, Knight & Company, Inc. and then again to Allen & Knight Investment Management Company in 1998. Finally, in May of 2001, The Palmer Knight Company was incorporated and acquired all the assets of the existing advisory firm Allen & Knight Investment Management Company. 2 The term “registered investment advisor” is not intended to imply that The Palmer Knight Company has attained a certain level of skill or training. It is used strictly to reference the fact that we are “registered” as a licensed “investment advisor” with the United States Securities & Exchange Commission and “Notice Filed” with State Regulatory Agencies that have limited regulatory jurisdiction over our business practices. 3 The Palmer Knight Company is a fiduciary, as defined within the meaning of Title I of the Employer Retirement Income Security Act of 1974 (“ERISA”) and/or as defined under the Internal Revenue Code of 1986 (the “Code”) for any money management services provided to a client who is: (i) a plan participant or beneficiary of a retirement plan subject to ERISA or as described under the Code; or (ii) the beneficial owner of an Individual Retirement Account (“IRA”). 4 A client could be an individual and their family members, a family office, a foundation or endowment, a charitable organization, a corporation and/or small business, a trust, a guardianship, an estate, or any other type of entity to which we choose to give investment advice. v Capital Appreciation – An active investment strategy designed to yield superior investment returns that perform well in the current economic environment. v Capital Preservation – A balanced investment strategy designed to produce consistent, stable investment returns that do not fluctuate wildly with daily changes in the financial markets. v Capital Conservation – A passive investment strategy designed to protect assets in retirement and capitalize on investment returns that yield either a low tax base income or are tax exempt. You will find more information about our management fees and services under “Portfolio Management” in Item 5, “Fees & Compensation”; and further description of our investment strategies under Item 8, “Methods of Analysis, Investment Strategies & Risk of Loss.” How We Get to Know You As a new client, we will have a pre-advisory consultation with you to discuss issues such as your current income and expenses, career, personal goals, investment return expectations and prior investment experience. In addition, we may have you complete a profile questionnaire5 to gain greater insight into your financial needs. With the complexity of today’s marketplace, it is critical for us to understand who you are and what you want to accomplish financially. We must have a clear picture of your unique financial composition and risk tolerance so that we can develop a successful portfolio management strategy. Our meetings with you to discuss your finances will help to eliminate much of the guesswork in achieving the security and independence you desire while simplifying your financial alternatives. In return, we will have: v Defined and narrowed objectives and investment options; v Identified areas of greatest distress; v Developed a strategy for addressing future concerns; v Cultivated peace of mind; and, v Created a unique picture of your overall economic personality. Once your financial parameters have been identified, we will prepare an assessment that outlines what asset mix is most suitable for your unique investment expectations and risk tolerance. This assessment plan will guide us in the management of your account(s); and, as a standard against which to measure future results and to make modifications where necessary. FEES & COMPENSATION IT EM 5 Portfolio Management Portfolio management is provided on an asset-based fee arrangement. Management fees are calculated using the Average Monthly Balance of your portfolio on the last business day in each of the last three (3) months in the previous calendar quarter multiplied by the corresponding annual percentage rate (i.e., 1.50% ÷ 4 = 0.375%). See “Billing” below under 5 The profile questionnaire we use is an important tool in gathering information about your investment methodology, risk tolerance, income/tax bracket, liquidity, time horizons, etc. If you elect not to answer the questionnaire or chooses to respond with limited input, it is possible that we could operate in

a handicapped capacity contrary to your investment needs. Therefore, if you desire the most effective and accurate recommendations regarding your managed account(s), you should make every effort to provide us with your detailed personal needs and objectives, along with detailed financial and tax information. “Protocols for Portfolio Management” for more information on how the Average Monthly Balance is determined. We retain discretion to negotiate the management fee for each tier on a client-by-client basis depending on the size and complexity of the portfolio managed. In addition, as your portfolio value exceeds each tier level, either through additional deposits or asset growth, a fee break will occur. The tier breaks are as follows: Account Value Annual Fee Rate $0 to $1,000,000 ....................................... 1.50% $1,000,001 to $6,000,000 ............................. 1.00% Over $6,000,000 ........................................ 0.75% We generally require a minimum initial investment of $500,000 to open a managed account; however, we retain the right to waive or reduce this minimum if we choose to do so. Protocols for Portfolio Management The following protocols establish how we handle our portfolio management accounts and what you should expect when it comes to: (i) managing your account; (ii) your bill for investment services; (iii) deposits and withdrawals; and, (iv) other fees charged to your account(s). Discretion We will establish discretionary trading authority on all management accounts to execute securities transactions at anytime without your prior consent or advice. At anytime however, you may impose restrictions, in writing, on our discretionary authority (i.e., limit the types/amounts of particular securities purchased for your account, exclude the ability to purchase securities with an inverse relationship to the market, limit our use of leverage, etc.) Billing Your account will be billed each calendar-quarter in arrears based on the Average Monthly Balance of your portfolio for the three (3) months in the prior quarter. For example: Calculating the Average Monthly Balance Account Market Value Values at the end of each closing month in a calendar quarter. 1st Month ................................ $2,000,000 2nd Month ............................... $2,130,000 3rd Month ............................... $1,960,000 3 Month Total ........................... $6,090,000 Average Monthly Balance ........... $2,030,000 NEW MANAGEMENT ACCOUNTS For new managed accounts opened in mid-quarter, our fee will remain as the Average Monthly Balance of your portfolio for the three (3) months of the prior quarter; however, for the months you had no balance in your account, the closing month value will be $0. For example, if you opened a $2,000,000 portfolio management account on May 15th, the April balance would be $0, and if your monthly closing balances for May and June were $2,060,000 and $2,120,000 respectively, the total Average Monthly Balance would be $1,393,334 ($0 + $2,060,000 + $2,120,000 = $4,180,000 ÷ 3). Advisory fees will be deducted first from any money market funds or cash balances. If such assets are insufficient to satisfy payment of such fees, a portion of the account assets will be liquidated to cover the fees. Fee Exclusions The above fees for all of our management services are exclusive of any charges imposed by the custodial firm including, but not limited to: (i) any Exchange/SEC fees; (ii) certain transfer taxes; (iii) service or account charges, including, postage/handling fees, electronic fund and wire transfer fees, auction fees, debit balances, margin interest, certain odd-lot differentials and mutual fund short-term redemption fees; and (iv) brokerage and execution costs associated with securities held in your managed account. There can also be other fees charged to your account that are unaffiliated with our management services. In addition, all fees paid to us for portfolio management services are separate from any fees and expenses charged on mutual fund shares by the investment company or by the investment advisor managing the mutual fund portfolios. These expenses generally include management fees and various fund expense, such as: redemption fees, account fees, and purchase fees may occur but are the exception within managed accounts at institutional custodians. A complete explanation of these expenses charged by the mutual funds is contained in each mutual fund’s prospectus. You are encouraged to carefully read the fund prospectus. Termination of Portfolio Management Services To terminate our investment advisory services, either party (you or us) by written notification to the other party, may terminate the Investment Advisory Agreement at any time, provided such written notification is received at least 30 days prior to the date of termination (i.e.; To terminate services on October 1st, a request for termination should be received in our office by September 1st.). Such notification should include the date the termination will go into affect along with any final instructions on the account (i.e., liquidate the account, finalize all transactions and/or cease all investment activity). In the event termination does not fall on the last day of a calendar quarter, our fee will remain as the Average Monthly Balance of your portfolio for the three (3) months of the quarter in which you terminate your account (See New Management Accounts above under Billing in “Protocols for Portfolio Management” as an example of how we calculate your final bill at termination.). Once the termination of investment advisory services has been implemented, neither party has any obligation to the other – we no longer earn management fees or give investment advice and you become responsible for making your own investment decisions. PERFORMANCE-BASED FEES & SIDE-BY-SIDE MANAGEMENT 6 We do not charge fees based on a share of capital gains or the capital appreciation of the assets held in your accounts.