Watts Water: Horne reports 68.1% voting power

The 1997 Voting Trust assigns sole voting power over 5,892,640 Class B shares to trustee Timothy P. Horne.

Rhea-AI Filing Summary

Watts Water Technologies (WTS) reports beneficial ownership of Class A common stock by five reporting persons as of September 30, 2026. Timothy P. Horne reported 5,900,140 shares (17.7% equity; 68.1% voting); Daniel W. Horne and Deborah Horne each reported 1,666,970 (5.7%); Peter W. Horne reported 1,529,770 (5.3%); and Walter J. Flowers reported 1,799,710 (6.1%) while disclaiming beneficial ownership. The reported positions include interests in some of the same trust-held shares.

Substantially all of Timothy P. Horne’s and Peter W. Horne’s reported ownership, and all of Daniel W. Horne’s and Deborah Horne’s, derives from Class B shares convertible into Class A on a share-for-share basis. The 1997 Voting Trust covers 5,892,640 Class B shares, with trustee Timothy P. Horne holding sole voting power. The trust was extended effective May 19, 2026 for five years and is stated to expire August 26, 2035. Shares cannot be removed during its term without trustee consent. A stock restriction agreement gives other parties a pro rata right of first refusal on specified transfers, generally at the 15-day average trading price, with book value applying to certain involuntary transfers.

Key Figures

Timothy P. Horne beneficial ownership: 5,900,140 shares Daniel W. Horne beneficial ownership: 1,666,970 shares Deborah Horne beneficial ownership: 1,666,970 shares +2 more

5 metrics

Timothy P. Horne beneficial ownership 5,900,140 shares Class A common stock as of September 30, 2026; 17.7% equity and 68.1% voting

Daniel W. Horne beneficial ownership 1,666,970 shares Class A common stock as of September 30, 2026; 5.7% equity

Deborah Horne beneficial ownership 1,666,970 shares Class A common stock as of September 30, 2026; 5.7% equity

Peter W. Horne beneficial ownership 1,529,770 shares Class A common stock as of September 30, 2026; 5.3% equity

Walter J. Flowers reported beneficial ownership 1,799,710 shares Class A common stock as of September 30, 2026; 6.1% equity; Flowers disclaims beneficial ownership

Key Terms

beneficial owner, 1997 Voting Trust, right of first refusal, share for share basis

4 terms

beneficial owner regulatory

"deemed the beneficial owner of 5,900,140 shares"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

1997 Voting Trust technical

"shares of Class B Common Stock are subject to the 1997 Voting Trust"

right of first refusal regulatory

"a pro rata right of first refusal to purchase such shares"

A right of first refusal gives an existing shareholder or party the chance to buy an asset or shares before the owner can sell them to someone else. Think of it like being offered the first option to buy a house when the owner decides to sell; it matters to investors because it can limit who can acquire a stake, slow or block transactions, and affect the price and liquidity of an investment by restricting open-market sales or new buyers.

share for share basis technical

"convertible into Class A Common Stock on a share for share basis"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What beneficial ownership did the five WTS reporting persons report?

As of September 30, 2026, Timothy P. Horne reported 5,900,140 shares (17.7% equity), Daniel W. Horne and Deborah Horne each reported 1,666,970 (5.7%), Peter W. Horne reported 1,529,770 (5.3%), and Walter J. Flowers reported 1,799,710 (6.1%). Flowers disclaims beneficial ownership, and some reported positions concern the same trust-held shares.

How much voting power did Timothy P. Horne report for WTS?

Timothy P. Horne reported sole voting power over 5,900,140 shares and a 68.1% voting percentage. The 1997 Voting Trust gives its trustee sole power to vote 5,892,640 Class B shares, and Timothy P. Horne is identified as trustee.

When does WTS’s 1997 Voting Trust expire?

The trust is stated to expire August 26, 2035. It was extended effective May 19, 2026 for an additional period of five years; shares may not be removed during its term without the consent of the trustees.

What transfer restrictions apply to WTS Class B shares?

The stock restriction agreement gives the other parties a pro rata right of first refusal for proposed voluntary transfers, transfers by operation of law, or a stockholder’s death. The purchase price is the 15-day average trading price of Class A common stock, except that certain involuntary transfers use book value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/21/2026 - 10:49 AM EDT Accepted by SEC EDGAR 10/21/2026 - 10:48 AM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 44)

WATTS WATER TECHNOLOGIES, INC.

(Name of Issuer)

Class A Common Stock, par value $.10 per share

(Title of Class of Securities)

942749102

(CUSIP Number)

09/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 942749102

1

Names of Reporting Persons

Timothy P. Horne

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,900,140.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 938,450.00
8	Shared Dispositive Power 4,961,690.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,900,140.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

17.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 942749102

1

Names of Reporting Persons

Daniel W. Horne

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,666,970.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,666,970.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 942749102

1

Names of Reporting Persons

Deborah Horne

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,666,970.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,666,970.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 942749102

1

Names of Reporting Persons

Peter W. Horne

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 34,760.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 34,760.00
8	Shared Dispositive Power 1,495,010.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,529,770.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.3 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 942749102

1

Names of Reporting Persons

Walter J. Flowers

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,799,710.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,799,710.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.1 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: WATTS WATER TECHNOLOGIES, INC.
(b)	Address of issuer's principal executive offices: 815 Chestnut Street North Andover, MA, 01845
Item 2.
(a)	Name of person filing: Timothy P. Horne Daniel W. Horne Deborah Horne Peter W. Horne Walter J. Flowers
(b)	Address or principal business office or, if none, residence: c/o Watts Water Technologies, Inc. 815 Chestnut Street North Andover, MA 01845
(c)	Citizenship: United States
(d)	Title of class of securities: Class A Common Stock, par value $.10 per share
(e)	CUSIP No.: 942749102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Timothy P. Horne is deemed the beneficial owner of 5,900,140 shares of Class A Common Stock of the Issuer. As noted below, substantially all of Timothy P. Horne's beneficial ownership of Class A Common Stock is derived from beneficial ownership of Class B Common Stock, par value $.10 per share, of the Issuer, which is convertible into Class A Common Stock on a share for share basis. Includes (i) 7,500 shares of Class A Common Stock held by a revocable trust for the benefit of Timothy P. Horne, for which Timothy P. Horne serves as sole trustee, (ii) 920,000 shares of Class B Common Stock held by a revocable trust for the benefit of Timothy P. Horne, for which Timothy P. Horne serves as sole trustee, (iii) 1,666,970 shares of Class B Common Stock held by a revocable trust for the benefit of Daniel W. Horne, Timothy P. Horne's brother, for which Daniel W. Horne and Walter J. Flowers, a partner in the law firm of Flowers and Manning, LLP, serve as co-trustees, (iv) 1,666,970 shares of Class B Common Stock held by a revocable trust for the benefit of Deborah Horne, Timothy P. Horne's sister, for which Timothy P. Horne serves as sole trustee, which trust is revocable with the consent of the trustee, (v) 1,495,010 shares of Class B Common Stock held by a revocable trust for the benefit of Peter W. Horne, Timothy P. Horne's brother, for which Peter W. Horne serves as sole trustee, (vi) 10,950 shares of Class B Common Stock held for the benefit of Tiffany Horne Noonan, Timothy P. Horne's daughter, under an irrevocable trust for which Timothy P. Horne serves as trustee, (vii) 113,924 shares of Class B Common Stock held by a revocable trust for the benefit of Tiffany Horne Noonan, for which Walter J. Flowers serves as trustee, (viii) 6,447 shares of Class B Common Stock held by a trust for the benefit of Kiera R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees, (ix) 6,447 shares of Class B Common Stock held by a trust for the benefit of Tessa R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees, and (x) 5,922 shares of Class B Common Stock held by a trust for the benefit of Liv R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees. The shares of Class B Common Stock (5,892,640 shares of Class B Common Stock in the aggregate) are subject to The Amended and Restated George B. Horne Voting Trust Agreement 1997 ("1997 Voting Trust") for which Timothy P. Horne serves as trustee. (See Exhibit 2 for a description of the 1997 Voting Trust). Daniel W. Horne is deemed the beneficial owner of 1,666,970 shares of Class A Common Stock of the Issuer. As noted below, all of Daniel W. Horne's beneficial ownership of Class A Common Stock is derived from beneficial ownership of Class B Common Stock, par value $.10 per share, of the Issuer which is convertible into Class A Common Stock on a share for share basis. Daniel W. Horne's beneficial ownership consists of 1,666,970 shares of Class B Common Stock held in a revocable trust for which Daniel W. Horne and Walter J. Flowers serve as co-trustees, all of which are subject to the 1997 Voting Trust for which Timothy P. Horne serves as sole trustee. (See Exhibit 2 for a description of the 1997 Voting Trust). Deborah Horne is deemed the beneficial owner of 1,666,970 shares of Class A Common Stock of the Issuer. As noted below, all of Deborah Horne's beneficial ownership of Class A Common Stock is derived from beneficial ownership of Class B Common Stock, par value $.10 per share, of the Issuer, which is convertible into Class A Common Stock on a share for share basis. Deborah Horne's beneficial ownership consists of 1,666,970 shares of Class B Common Stock held in a revocable trust for which Timothy P. Horne serves as the sole trustee, all of which are subject to the 1997 Voting Trust for which Timothy P. Horne serves as sole trustee. (See Exhibit 2 for a description of the 1997 Voting Trust). Peter W. Horne is deemed the beneficial owner of 1,529,770 shares of Class A Common Stock of the Issuer. As noted below, substantially all of Peter W. Horne's beneficial ownership of Class A Common Stock is derived from beneficial ownership of Class B Common Stock, par value $.10 per share, of the Issuer which is convertible into Class A Common Stock on a share for share basis Peter W. Horne's beneficial ownership consists of (i) 1,515,010 shares of Class B Common Stock held in a revocable trust for which Peter W. Horne serves as the sole trustee, and (ii) 14,760 shares of Class A Common Stock. 1,495,010 shares of Class B Common Stock described in clause (i) above are subject to the 1997 Voting Trust for which Timothy P. Horne serves as trustee. (See Exhibit 2 for a description of the 1997 Voting Trust). Walter J. Flowers is deemed the beneficial owner of 1,799,710 shares of Class A Common Stock of the Issuer. As noted below, all of Mr. Flowers' beneficial ownership of Class A Common Stock is derived from beneficial ownership of Class B Common Stock, par value $.10 per share, of the Issuer which is convertible into Class A Common Stock on a share for share basis. Mr. Flowers' beneficial ownership consists of (i) 1,666,970 shares of Class B Common Stock held in a revocable trust for the benefit of Daniel W. Horne for which Daniel W. Horne and Mr. Flowers serve as co-trustees, (ii) 113,924 shares of Class B Common Stock held in a revocable trust for the benefit of Tiffany Horne Noonan for which Mr. Flowers serves as the sole trustee, (iii) 6,447 shares of Class B Common Stock held by a trust for the benefit of Kiera R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees, (iv) 6,447 shares of Class B Common Stock held by a trust for the benefit of Tessa R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees, and (v) 5,922 shares of Class B Common Stock held by a trust for the benefit of Liv R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees. All of the shares of Class B Common Stock (1,799,710 in the aggregate) are subject to the 1997 Voting Trust for which Timothy P. Horne serves as sole trustee. (See Exhibit 2 for a description of the 1997 Voting Trust). Mr. Flowers disclaims beneficial ownership of all such shares.
(b)	Percent of class: Timothy P. Horne 17.7% equity percentage 68.1% voting percentage Daniel W. Horne 5.7% equity percentage 0.0% voting percentage Deborah Horne 5.7% equity percentage 0.0% voting percentage Peter W. Horne 5.3% equity percentage 0.2% voting percentage Walter J. Flowers 6.1% equity percentage 0.0% voting percentage
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Timothy P. Horne 5,900,140 Daniel W. Horne 0 Deborah Horne 0 Peter W. Horne 34,760 Walter J. Flowers 0
	(ii) Shared power to vote or to direct the vote: Timothy P. Horne 0 Daniel W. Horne 0 Deborah Horne 0 Peter W. Horne 0 Walter J. Flowers 0
	(iii) Sole power to dispose or to direct the disposition of: Timothy P. Horne 938,450 Daniel W. Horne 0 Deborah Horne 0 Peter W. Horne 34,760 Walter J. Flowers 0
	(iv) Shared power to dispose or to direct the disposition of: Timothy P. Horne 4,961,690 Daniel W. Horne 1,666,970 Deborah Horne 1,666,970 Peter W. Horne 1,495,010 Walter J. Flowers 1,799,710
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. A group has filed this Schedule 13G pursuant to Rule 13d-1(d). The members of the group are: Timothy P. Horne Daniel W. Horne Deborah Horne Peter W. Horne Walter J. Flowers
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Timothy P. Horne

Signature:	/s/ Timothy P. Horne
Name/Title:	Timothy P. Horne
Date:	10/20/2026

Daniel W. Horne

Signature:	/s/ Timothy P. Horne*
Name/Title:	Daniel W. Horne
Date:	10/20/2026

Deborah Horne

Signature:	/s/ Timothy P. Horne*
Name/Title:	Deborah Horne
Date:	10/20/2026

Peter W. Horne

Signature:	/s/ Timothy P. Horne*
Name/Title:	Peter W. Horne
Date:	10/20/2026

Walter J. Flowers

Signature:	/s/ Walter J. Flowers
Name/Title:	Walter J. Flowers
Date:	10/20/2026

Comments accompanying signature: *By Timothy P. Horne, Attorney in Fact pursuant to Powers of Attorney filed with the Securities and Exchange Commission on February 12, 1992, which Powers of Attorney are hereby incorporated herein by reference.

Exhibit Information

INDEX OF EXHIBITS 1. Amended and Restated Stock Restriction Agreement 2. The Amended and Restated George B. Horne Voting Trust Agreement - 1997 3. Agreement Regarding Joint Filing EXHIBIT 1 All Class B Common Stock shares beneficially owned by Timothy P. Horne are held individually by or in trusts for the benefit of Timothy P. Horne, Daniel W. Horne, Deborah Horne, Tiffany Horne Noonan, Kiera R. Noonan, Tessa R. Noonan, Liv R. Noonan and Peter W. Horne, and any voting trust certificates representing such shares, are subject to an Amended and Restated Stock Restriction Agreement (the "Agreement"). Upon any proposed voluntary transfer or transfer by operation of law of Class B Common Stock or voting trust certificates representing such shares by any of the above stockholders, or upon the death of such a stockholder holding such shares or voting trust certificates, the other parties to the Agreement have a pro rata right of first refusal to purchase such shares (including a second opportunity to elect to purchase any shares not purchased under the first right of refusal). The purchase price per share is the 15-day average trading price of the Issuer's Class A Common Stock while publicly traded, except in the case of certain involuntary transfers, in which case the purchase price is book value. This summary is qualified in its entirety by reference to the text of the Agreement which is incorporated herein by reference to Exhibit 2 to the Issuer's Current Report on Form 8-K dated October 31, 1991, and to the text of Amendment No. 1 to the Agreement which is incorporated herein by reference to Exhibit 10.21 to the Issuer's Annual Report on Form 10-K dated September 16, 1997. EXHIBIT 2 The 920,000 shares of Class B Common Stock held by a revocable trust for the benefit of Timothy P. Horne, 1,666,970 shares of Class B Common Stock held by a trust for the benefit of Daniel W. Horne, 1,666,970 shares of Class B Common Stock held by a trust for the benefit of Deborah Horne, 1,495,010 shares of Class B Common Stock held by a trust for the benefit of Peter W. Horne, 10,950 shares of Class B Common Stock held for the benefit of Tiffany Horne Noonan under an irrevocable trust for which Timothy P. Horne serves as trustee, 113,924 shares of Class B Common Stock held by a trust for the benefit of Tiffany Horne Noonan for which Walter J. Flowers serves as the sole trustee, 6,447 shares of Class B Common Stock held by a trust for the benefit of Kiera R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees, 6,447 shares of Class B Common Stock held by a trust for the benefit of Tessa R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees, and 5,922 shares of Class B Common Stock held by a trust for the benefit of Liv R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees (5,892,640 shares of Class B Common Stock in the aggregate) are subject to the terms of The George B. Horne Voting Trust Agreement1997 (the "1997 Voting Trust"). Under the terms of the 1997 Voting Trust, the trustee (currently Timothy P. Horne) has sole power to vote all shares subject to the 1997 Voting Trust. Under the terms of the 1997 Voting Trust, in the event Timothy P. Horne ceases to serve as trustee of the 1997 Voting Trust, then Tara V. Horne and Tiffany Horne Noonan (each, a "Successor Trustee" and collectively, the "Successor Trustees"), shall thereupon become cotrustees of the 1997 Voting Trust if such individuals are willing and able to succeed. At any time, Timothy P. Horne, if then living and not subject to incapacity, may designate up to two additional persons, one to be designated as the primary designee (the "Primary Designee") and the other as the secondary designee ("Secondary Designee"), to serve in the stead of any Successor Trustee who shall be unable or unwilling to serve as a trustee of the 1997 Voting Trust. Such designations are revocable by Timothy P. Horne at any time prior to the time at which such designees become a trustee. If any of the Successor Trustees is unable or unwilling or shall otherwise fail to serve as a trustee of the 1997 Voting Trust, or after becoming a co-trustee shall cease to serve as such for any reason, then a third person shall become a co-trustee with the remaining two trustees, in accordance with the following line of succession: first, any individual designated as the Primary Designee, next, any individual designated as the Secondary Designee, and then, an individual appointed by the holders of a majority in interest of the voting trust certificates then outstanding. In the event that the Successor Trustees shall not concur on matters not specifically contemplated by the terms of the 1997 Voting Trust, the vote of a majority of the Successor Trustees shall be determinative. No trustee or Successor Trustee shall possess the Determination Power unless it is specifically conferred upon such trustee pursuant to the provisions of the 1997 Voting Trust. The 1997 Voting Trust was extended effective as of May 19, 2026 by unanimous agreement of the holders of all of the outstanding trust certificates issued under the 1997 Voting Trust agreement for an additional period of five years and will expire on August 26, 2035. The 1997 Voting Trust may be amended by vote of the holders of a majority of the voting trust certificates then outstanding and by the number of trustees authorized to take action at the relevant time. Shares may not be removed from the 1997 Voting Trust during its term without the consent of the trustees. This summary is qualified in its entirety by reference to the 1997 Voting Trust which is incorporated herein by reference to Exhibit 9.2 of the Issuer's Annual Report on Form 10-K dated September 28, 1999 filed with the Securities and Exchange Commission. EXHIBIT 3 AGREEMENT REGARDING JOINT FILING Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the undersigned hereby agree to file jointly on behalf of each of them the statement on Schedule 13G to which this Agreement is attached, and any amendments thereto, pursuant to Regulation 13D-G under the Exchange Act. It is understood and agreed that each of the parties hereto is responsible for the timely filing of the statement on Schedule 13G to which this Agreement is attached, and any amendments thereto, and for the completeness and accuracy of the information concerning such party contained therein; provided that such party is not responsible for the completeness or accuracy of information concerning any other party unless such party knows or has reason to believe that such information is inaccurate.