|
1)
|
Title
of each class of securities to which transaction
applies:
|
|
2)
|
Aggregate
number of securities to which transaction
applies:
|
|
3)
|
Per
unit price or other underlying value of transaction
computed
|
|
4)
|
Proposed
maximum aggregate value of
transaction:
|
|
5)
|
Total
fee paid:
|
|
1)
|
Amount
Previously Paid;
|
|
2)
|
Form,
Schedule or Registration Statement
No.:
|
|
3)
|
Filing
Party:
|
|
4)
|
Date
Filed:
|
|
1.
|
The
election of the following as directors of the Corporation, to serve until
their replacement is elected:
|
|
2.
|
The
ratification of the selection of LWBJ, LLP as our Independent Accountants
for 2009.
|
INTRODUCTION
|
PAGE
|
|
PROPOSAL
1: Election of Directors
|
5
|
|
PROPOSAL
2: Ratification of Accountants
|
11
|
|
ADDITIONAL
INFORMATION
|
13
|
CLASS
|
SHARES
OUTSTANDING
|
VOTING
|
Common
Shares
|
30,214,902
|
30,214,902
|
Name
|
Age
|
Position with the company
|
Held Since
|
|||
Theodore
G. Hollinger
|
67
|
Director
of the company and HEC Iowa, Chairman of the Board of the
company
|
August
30, 2005
|
|||
Thomas
O. Trimble
|
67
|
Director
|
August
30, 2005
|
|||
Philip
G. Ruggieri,
|
55
|
Director
|
May
19, 2006
|
|||
Stephen
T. Parker
|
59
|
Director
|
February
8, 2008
|
|||
Jan
Rowinski
|
56
|
Director
and Chairman HEC Canada
|
July
20, 2008
|
|||
Michael
A. Schiltz
|
48
|
Secretary
and Acting President of the company and HEC Iowa and HEC Canada, Director
of the company, HEC Iowa and HEC Canada
|
August
30, 2005
|
Audit Committee
|
Compensation Committee
|
Technology Committee
|
||
Philip
G. Ruggieri
|
Thomas
O. Trimble
|
Theodore
G. Hollinger
|
||
Stephen
T. Parker
|
Jan
Rowinski
|
|
·
|
The
integrity of the company’s financial statements and financial reporting
process;
|
|
·
|
The
company’s compliance with legal and regulatory
requirements;
|
|
·
|
The
independent auditors' qualifications, independence and performance;
and
|
|
·
|
Communication
among the independent auditors, management and the Board of
Directors.
|
2008
DIRECTOR COMPENSATION
|
||||||||||||||||||||||||||||
Name
(a)
|
Fees
Earned or
Paid in
Cash
($)
(b)
|
Stock
Awards
($)
(c)
|
Option
Awards
($)
(d)
|
Non-Equity
Incentive Plan
Compensation
($)
(e)
|
Change in
Pension Value
And
Nonqualified
Deferred
Compensation
Earnings
($)
(f)
|
All
Other
Comp- ensation
($)
(g)
|
Total
($)
(h)
|
|||||||||||||||||||||
Theodore
G. Hollinger2
|
- | - | - | - | - | - |
2
|
- | ||||||||||||||||||||
Thomas
O. Trimble
|
$ | 8,500 |
3
|
- | - | - | - | - | 8,500 | |||||||||||||||||||
Philip
G. Ruggieri
|
8,500 |
3
|
- | - | - | - | - | 8,500 | ||||||||||||||||||||
Stephen
T. Parker
|
7,438 |
3
|
- | 3,850 |
4
|
- | - | - | 11,288 | |||||||||||||||||||
Jan
Rowinski
|
6,750 |
3
|
- | 1,400 |
4
|
- | - | - | 8,150 | |||||||||||||||||||
Michael
A. Schiltz
|
- | - | - | - | - | - |
2
|
Philip
G Ruggieri
|
Name
|
Age
|
Position with the company
|
Held Since
|
|||
Theodore
G. Hollinger
|
67
|
Director
of the company and HEC Iowa., Chairman of the Board of the
company and HEC Iowa
|
August
30, 2005
|
|||
Thomas
O. Trimble
|
67
|
Director
|
August
30, 2005
|
|||
Philip
G. Ruggieri,
|
55
|
Director
|
May
19, 2006
|
|||
Stephen
T. Parker
|
59
|
Director
|
February
8, 2008
|
|||
Matthew
Fairlie
|
54
|
Director
HEC Canada
|
January
24, 2007
|
|||
Jan
Rowinski
|
56
|
Director
HEC Canada
|
April
29, 2008
|
|||
Michael
A. Schiltz
|
48
|
Acting
President and Secretary of the company, HEC Iowa and HEC
Canada, Director of the company, HEC Canada and HEC Iowa
|
August
30, 2005
|
|||
Sandra
M. Batt
|
56
|
Treasurer
and Chief Financial Officer
|
December
5,
2005
|
Title of Class
|
Name and Address of
Beneficial Owner
|
Amount and Nature of
Beneficial Ownership
|
Percent
of Class
|
|||||||
Common
|
Theodore
G. Hollinger
2502
East Poplar Street
Algona,
IA 50511
|
15,661,0371 | 51.83 | % | ||||||
Common
|
Thomas
O. Trimble
2341
Hilton Road
Ferndale,
MI 58220-1593
|
30,0002 | * | |||||||
Common
|
Stephen
T. Parker
2502
East Poplar Street
Algona,
IA 50511
|
15,0003 | * | |||||||
Common
|
Philip
G. Ruggieri
1562
Lake Whitney Dr.
Orlando,
FL 32836
|
55,0004 | * | |||||||
Common
|
Sandra
M. Batt
2502
East Poplar Street
Algona,
IA 50511
|
84,7705 | * | |||||||
Common
|
Michael
A. Schiltz
2502
East Poplar Street
Algona,
IA 50511
|
155,5206 | * | |||||||
Common
|
Jan
Rowinski
6300
Chemin Côte-de-Liesse, Suite 201
Montréal,
Québec, H4T1E3
|
10,0007 | * | |||||||
Common
|
David
F. McManamy
13150
Hidden Creek
Plymouth,
MI 48170
|
10,0008 | * | |||||||
Common
|
Matthew
Fairlie
RR4
Shelburne
Ontario,
Canada L0N 1S8
|
0 | * | |||||||
Common
|
Officers
and directors as a Group (9 Persons)6
|
16,021,32710 | 52.68 | % | ||||||
Common
|
Gabriel
Elias and
Alma
Elias
509
Spring Ave
Elkins
Park, PA 19027
|
2,311,2509 | 7.60 | % | ||||||
Name
and principal position
(a)
|
Year
(b)
|
Salary
($)
(c)6
|
Stock Awards1
($)
(e)
|
Option
Awards1
($)
(f)
|
Total
($)
(j)
|
|||||||||||||
Theodore
G. Hollinger, Chairman
|
2007
|
123,924 | 42,0332 | 165,957 | ||||||||||||||
2008
|
107,057 |
6
|
42,4312 | 149,488 | ||||||||||||||
Sandra
M. Batt, Chief Financial Officer
|
2007
|
87,923 | 86,1893 | 174,112 | ||||||||||||||
2008
|
70,946 |
6
|
84,3553 | 155,301 | ||||||||||||||
Michael
A. Schiltz, Secretary, and
|
2007
|
88,420 | 5,8204 | 16,8135 | 111,053 | |||||||||||||
Acting
President
|
2008
|
68,961 |
6
|
6,4974 | 14,0005 | 89,458 |
OPTION AWARDS
|
STOCK AWARDS
|
|||||||||||||||||||||||
Name
(a)
|
Number of
Securities
Underlying
Unexercised
Options
(#)
Exercisable
(b)
|
Number of
Securities
Underlying
Unexercised
Options
(#)
Unexercisable
(c)
|
Option
Exercise
Price
($)
(e)
|
Option
Expiration Date
(f)
|
Number of
Shares or Units
of Stock That
Have Not Vested
(#)
(g)
|
Market Value of
Shares or Units
of Stock That
Have Not Vested
($)
(h)
|
||||||||||||||||||
Theodore
G. Hollinger, Chairman
|
- | - | - | - | 40,0001 | $ | 4,8002 | |||||||||||||||||
Sandra
M. Batt, Chief Financial Officer
|
54,0003 | 36,0003 | 1.34 | 8-14-2017 | - | - | ||||||||||||||||||
Michael
A. Schiltz, Secretary, VP of Engine Development
|
70,0004 | 14,0004 | 1.00 | 8-14-2017 | 6,0005 | 7205 |