Core Insights - Alpha Pro Tech, Ltd. reported a net sales decrease of 2.3% to $13.5 million for Q1 2024 compared to $13.8 million in Q1 2023, primarily driven by a decline in the Building Supply segment [1][8] - The Building Supply segment experienced a 4.5% decrease in sales, while the Disposable Protective Apparel segment saw a slight increase of 1.4% [1][11] - The company maintains a strong cash position with $18.5 million in cash and no debt as of March 31, 2024 [1][18] Sales Performance - Total net sales for Q1 2024 were $13.5 million, down from $13.8 million in Q1 2023, a decrease of $318,000 [8] - Building Supply segment sales decreased by $391,000 to $8.2 million, while Disposable Protective Apparel segment sales increased by $73,000 to $5.24 million [1][9] - Housewrap and accessory product sales grew significantly by 24.3%, indicating strong market performance [3][9] Segment Analysis - The Building Supply segment's core products, excluding other woven materials, grew by 7.6% year-over-year, despite overall segment decline [2][9] - Sales of synthetic roof underlayment decreased by 5.4%, while other woven material sales plummeted by 71.4% due to customer acquisition and order timing issues [4][5] - The Disposable Protective Apparel segment's sales were bolstered by a 0.5% increase in disposable protective garments and a 6.3% increase in face masks [11][12] Profitability and Expenses - Gross profit increased by 8.7% to $5.4 million, with a gross profit margin of 40.2%, up from 36.1% in the previous year [12] - Selling, general, and administrative expenses rose by 12.4% to $4.8 million, increasing as a percentage of net sales to 36.0% [13][15] - Income from operations decreased by 23.5% to $326,000, primarily due to increased operating expenses [15] Net Income and Financial Position - Net income for Q1 2024 was $576,000, a 4.3% increase from $552,000 in Q1 2023, with earnings per share remaining at $0.05 [17][24] - The company reported a current ratio of 25:1, indicating strong liquidity, with total working capital of $50.3 million [18][19] - Alpha Pro Tech repurchased 270,000 shares at a cost of $1.4 million during the quarter, with a total of 20.7 million shares repurchased to date [19]

Core Viewpoint - Alpha Pro Tech, Ltd. has authorized a $2.0 million expansion of its existing share repurchase program, bringing the total available for share repurchase to approximately $2.7 million [1][2]. Company Overview - Alpha Pro Tech, Ltd. is a manufacturer of protective products, including disposable protective apparel and building products, with operations in various locations including Salt Lake City, Utah; Nogales, Arizona; and Valdosta, Georgia [3]. Share Repurchase Program - The company plans to repurchase shares through open market purchases or privately-negotiated transactions, intending to retire all shares purchased [2]. - The repurchase will be conducted in accordance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, with specific conditions on price, volume, and timing [2].

Core Insights - Alpha Pro Tech, Ltd. reported a net sales increase of 24.9% in Q4 2023, reaching $15.3 million compared to $12.2 million in Q4 2022 [1][6] - The Building Supply segment saw significant growth, with sales rising by 55.7% to $9.8 million, while the Disposable Protective Apparel segment experienced a decline of 7.7% to $5.5 million [1][6] - The company achieved a net income of $1.1 million in Q4 2023, an increase of 88.1% from $564,000 in Q4 2022 [1][18] Financial Performance - For the year ended December 31, 2023, consolidated sales decreased slightly by 1.2% to $61.2 million from $62.0 million in 2022 [8][9] - The Building Supply segment's annual sales increased by 9.4% to a record $40.4 million, driven by a 22.2% rise in housewrap sales [9][10] - The Disposable Protective Apparel segment's sales decreased by 16.8% to $20.8 million, primarily due to a significant drop in face mask and face shield sales [10] Segment Analysis - The Building Supply segment accounted for approximately 42% of sales from synthetic roof underlayment, 47% from housewrap, and 11% from other woven materials for the year ended December 31, 2023 [9] - The sales mix for the Disposable Protective Apparel segment was approximately 88% for disposable protective garments, 9% for face masks, and 3% for face shields [10][8] Profitability Metrics - Gross profit for Q4 2023 decreased by 18.6% to $5.7 million, with a gross profit margin of 37.4% compared to 39.4% in Q4 2022 [11] - For the year ended December 31, 2023, gross profit increased by 5.3% to $22.8 million, with a gross profit margin of 37.3%, up from 35.0% in 2022 [12] Expenses and Income - Selling, general and administrative expenses for Q4 2023 increased by 16.0% to $4.5 million, but as a percentage of net sales, they decreased to 29.5% [13] - For the year ended December 31, 2023, these expenses rose by 9.6% to $17.8 million, representing 29.0% of net sales [14] - Income from operations for Q4 2023 increased by 27.8% to $1.0 million, while for the year, it decreased by 11.1% to $4.1 million [15][16] Other Income and Net Income - Other income for Q4 2023 increased significantly by 222.9% to $352,000, driven by higher interest income [17] - Net income for the year ended December 31, 2023, was $4.2 million, a 27.6% increase from $3.3 million in 2022 [19] Balance Sheet Highlights - As of December 31, 2023, the company had cash and cash equivalents of $20.4 million, an increase from $16.3 million in 2022 [20] - Working capital totaled $50.5 million, with a current ratio of 21:1 [20] - Inventory decreased by 17.5% to $20.1 million, reflecting a reduction in both segments [20] Stock Repurchase Program - The company had $2.2 million available for stock purchases under its repurchase program and repurchased 951,010 shares at a cost of $4.0 million during 2023 [21]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number: 001-15725 ALPHA PRO TECH, LTD. (Exact Name of Registrant as Specified in Its Charter) Delaware 63-1009183 (State or Other Jurisdiction of Incorpora ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) Alpha Pro Tech reported strong Q4 2023 performance with **24.9% net sales growth** and **95% net income increase**, concluding the year with **$20.4 million cash** and no debt | Metric | Q4 2023 (USD) | Q4 2022 (USD) | Change | FY 2023 (USD) | FY 2022 (USD) | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $15.3 million | $12.2 million | +24.9% | $61.2 million | $62.0 million | -1.2% | | **Net Income** | $1.1 million | $564 thousand | +95.0% | $4.2 million | $3.3 million | +27.3% | | **Diluted EPS** | $0.09 | $0.05 | +80.0% | $0.35 | $0.26 | +34.6% | - The Building Supply segment was the primary growth driver in Q4 2023, with sales increasing by **$3.5 million (55.7%)**, while the Disposable Protective Apparel segment saw a slight decrease of **7.7%**[2](index=2&type=chunk) - As of December 31, 2023, the company maintained a strong financial position with **$20.4 million** in cash, **$50.3 million** in working capital, and no debt[2](index=2&type=chunk) [Management Commentary](index=2&type=section&id=Management%20Commentary) Management emphasized the Building Supply segment's record performance driven by diversification and new relationships, while anticipating recovery and growth in the Disposable Protective Apparel segment as inventory normalizes [Building Supply Segment Performance and Outlook](index=2&type=section&id=Building%20Supply%20Segment%20Performance%20and%20Outlook) The Building Supply segment achieved record sales despite a soft housing market, driven by housewrap and accessories, with new self-adhered roofing products expected to fuel future growth - The Building Supply segment achieved **record performance**, with six of the highest sales quarters on record occurring in the last two years, despite an **8.8% decrease** in US housing starts in 2023[3](index=3&type=chunk) | Product Line | 2023 Sales Growth vs 2022 | Key Driver | | :--- | :--- | :--- | | Housewrap & Accessories | +22.2% | Market outperformance, new dealers | | - REX Wrap® (Entry-level) | +15.1% | New dealer relationships | | - REX™ Wrap Fortis (Premium) | +33.9% | Inroads into multi-family/commercial sector | | - Housewrap Accessories | +180% | REXTREME Flashing & REX™ Seam Tape | | Synthetic Roof Underlayment | -3.0% | Outperformed a declining market | - A new line of self-adhered roofing products was launched in late 2023, which management expects will drive revenue growth with the current customer base and allow for market expansion[5](index=5&type=chunk) [Disposable Protective Apparel Segment Performance and Outlook](index=2&type=section&id=Disposable%20Protective%20Apparel%20Segment%20Performance%20and%20Outlook) The Disposable Protective Apparel segment saw garment sales increase and exceed pre-pandemic levels, with cautious optimism for face mask and shield sales recovery in 2024 - Sales of disposable protective garments in 2023 increased by **4.0%** and were approximately **19% higher** than pre-pandemic levels as channel partners work through excess inventory[5](index=5&type=chunk) - Face mask and face shield sales showed signs of recovery in Q4 2023, approximately **doubling** compared to the prior quarter, despite a saturated market. Management is cautiously optimistic about growth in 2024[6](index=6&type=chunk) [Detailed Financial Performance Analysis](index=3&type=section&id=Detailed%20Financial%20Performance%20Analysis) Full-year 2023 sales slightly declined to **$61.2 million** due to mixed segment performance, while gross profit margin improved to **37.3%**, and a significant increase in other income drove a **27.6% rise in net income** [Net Sales Analysis](index=3&type=section&id=Net%20Sales%20Analysis) Q4 2023 net sales increased **24.9%** driven by the Building Supply segment, while full-year sales saw a slight **1.2% decrease** due to a decline in Disposable Protective Apparel | Segment | Q4 2023 Sales (USD) | Q4 2022 Sales (USD) | Change | | :--- | :--- | :--- | :--- | | Building Supply | $9.8 million | $6.3 million | +55.7% | | Disposable Protective Apparel | $5.5 million | $5.9 million | -7.7% | | **Total Consolidated Sales** | **$15.3 million** | **$12.2 million** | **+24.9%** | | Segment | FY 2023 Sales (USD) | FY 2022 Sales (USD) | Change | | :--- | :--- | :--- | :--- | | Building Supply | $40.4 million | $36.9 million | +9.4% | | Disposable Protective Apparel | $20.8 million | $25.0 million | -16.8% | | **Total Consolidated Sales** | **$61.2 million** | **$62.0 million** | **-1.2%** | [Gross Profit Analysis](index=4&type=section&id=Gross%20Profit%20Analysis) Gross profit margin for Q4 2023 was **37.4%**, while the full-year margin improved to **37.3%** primarily due to lower freight costs, with similar margins expected in 2024 | Metric | Q4 2023 (USD) | Q4 2022 (USD) | FY 2023 (USD) | FY 2022 (USD) | | :--- | :--- | :--- | :--- | :--- | | Gross Profit | $5.7 million | $4.8 million | $22.8 million | $21.7 million | | Gross Profit Margin | 37.4% | 39.4% | 37.3% | 35.0% | - The improvement in the full-year gross profit margin was positively affected by lower ocean freight rates compared to the latter part of 2022. Management expects a similar margin range in 2024 but notes potential negative impacts from ongoing global conflicts[12](index=12&type=chunk) [Operating Expenses and Profitability](index=4&type=section&id=Operating%20Expenses%20and%20Profitability) Full-year 2023 SG&A expenses increased by **9.6%**, leading to an **11.1% decrease** in income from operations, though net income significantly rose due to increased other income - Full-year 2023 SG&A expenses increased by **$1.6 million (9.6%)** to **$17.8 million**, primarily due to higher employee compensation, sales commissions, and factory expenses in the Building Supply segment[14](index=14&type=chunk) | Metric | FY 2023 (USD) | FY 2022 (USD) | Change | | :--- | :--- | :--- | :--- | | Income from Operations | $4.1 million | $4.6 million | -11.1% | | Other Income (Loss) | $1.3 million | ($0.26 million) | N/A | | **Net Income** | **$4.2 million** | **$3.3 million** | **+27.6%** | - The significant increase in Other Income for FY 2023 was driven by a **$668,000** increase in interest income and a **$390,000** increase in equity income from an unconsolidated affiliate[17](index=17&type=chunk) [Financial Position and Shareholder Returns](index=6&type=section&id=Financial%20Position%20and%20Shareholder%20Returns) The company maintained a strong balance sheet with **$20.4 million cash** and no debt, while strategically reducing inventory by **17.5%** and repurchasing **$4.0 million** in shares | Balance Sheet Item | Dec 31, 2023 (USD) | Dec 31, 2022 (USD) | Change (USD) | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | $20.4 million | $16.3 million | +$4.1 million | | Working Capital | $50.5 million | $50.2 million | +$0.3 million | | Inventory | $20.1 million | $24.4 million | -$4.3 million (-17.5%) | - During the year ended December 31, 2023, the company repurchased **951,010 shares** of common stock at a cost of **$4.0 million**[21](index=21&type=chunk) - As of December 31, 2023, **$2.2 million** was still available for stock purchases under the company's stock repurchase program[21](index=21&type=chunk) [Financial Statements](index=7&type=section&id=Financial%20Statements) This section presents the unaudited Consolidated Balance Sheets and Condensed Consolidated Statements of Comprehensive Income for Q4 and full-year 2023 and 2022, providing a comprehensive financial overview [Consolidated Balance Sheets](index=7&type=section&id=Consolidated%20Balance%20Sheets) This table provides a detailed overview of the company's financial position, including assets, liabilities, and equity, as of December 31, 2023 and 2022 | (in thousands) | Dec 31, 2023 (USD) | Dec 31, 2022 (USD) | | :--- | :--- | :--- | | **Assets** | | | | Total current assets | $53,064 | $52,562 | | Total assets | $68,763 | $64,803 | | **Liabilities & Equity** | | | | Total current liabilities | $2,566 | $2,406 | | Total liabilities | $7,195 | $4,045 | | Total shareholders' equity | $61,568 | $60,758 | | **Total liabilities and equity** | **$68,763** | **$64,803** | [Condensed Consolidated Statements of Comprehensive Income](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) This table presents the company's comprehensive income performance for the fourth quarter and full year of 2023 and 2022, detailing key revenue and profit metrics | (in thousands) | Q4 2023 (USD) | Q4 2022 (USD) | FY 2023 (USD) | FY 2022 (USD) | | :--- | :--- | :--- | :--- | :--- | | Net sales | $15,265 | $12,225 | $61,232 | $61,981 | | Gross profit | $5,706 | $4,811 | $22,829 | $21,683 | | Income from operations | $971 | $760 | $4,132 | $4,650 | | Net income | $1,061 | $564 | $4,189 | $3,282 | | Diluted EPS | $0.09 | $0.05 | $0.35 | $0.26 |

PART I. FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=ITEM%201.%20Financial%20Statements) The unaudited condensed consolidated financial statements for the period ended September 30, 2023, show total assets of $64.6 million, a slight decrease from year-end 2022, with net sales of $46.0 million and net income of $3.1 million for the nine months ended [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2023, total assets were $64.6 million, a slight decrease from $64.8 million at December 31, 2022, driven by a decrease in inventories offset by an increase in cash and cash equivalents Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $18,163,000 | $16,290,000 | | Inventories | $21,526,000 | $24,397,000 | | Total current assets | $52,687,000 | $52,562,000 | | **Total assets** | **$64,611,000** | **$64,803,000** | | **Liabilities & Equity** | | | | Total current liabilities | $1,982,000 | $2,406,000 | | Total liabilities | $3,220,000 | $4,045,000 | | Total shareholders' equity | $61,391,000 | $60,758,000 | | **Total liabilities and shareholders' equity** | **$64,611,000** | **$64,803,000** | [Condensed Consolidated Statements of Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For Q3 2023, net sales increased 9.0% year-over-year to $16.1 million, driving net income up 184.3% to $1.4 million, while nine-month net sales decreased 7.6% to $46.0 million, with net income increasing 15.1% to $3.1 million Q3 2023 vs Q3 2022 Performance (Unaudited) | Metric | Q3 2023 | Q3 2022 | Change | | :--- | :--- | :--- | :--- | | Net sales | $16,053,000 | $14,722,000 | +9.0% | | Gross profit | $6,035,000 | $4,818,000 | +25.3% | | Income from operations | $1,423,000 | $647,000 | +119.9% | | Net income | $1,430,000 | $503,000 | +184.3% | | Diluted EPS | $0.12 | $0.04 | +200.0% | Nine Months 2023 vs 2022 Performance (Unaudited) | Metric | Nine Months 2023 | Nine Months 2022 | Change | | :--- | :--- | :--- | :--- | | Net sales | $45,967,000 | $49,756,000 | -7.6% | | Gross profit | $17,123,000 | $16,872,000 | +1.5% | | Income from operations | $3,161,000 | $3,890,000 | -18.7% | | Net income | $3,128,000 | $2,718,000 | +15.1% | | Diluted EPS | $0.26 | $0.21 | +23.8% | [Condensed Consolidated Statements of Shareholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Shareholders'%20Equity) Shareholders' equity increased from $60.8 million at year-end 2022 to $61.4 million as of September 30, 2023, primarily driven by net income partially offset by common stock repurchases - For the nine months ended September 30, 2023, the company repurchased and retired **724,110 shares** of common stock for a total cost of approximately **$2.98 million**[14](index=14&type=chunk)[15](index=15&type=chunk) - Net income of **$3.13 million** for the first nine months of 2023 increased retained earnings[14](index=14&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2023, net cash provided by operating activities was $4.9 million, a significant improvement from the prior-year period, resulting in a net increase in cash of $1.9 million Cash Flow Summary (Nine Months Ended Sep 30) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $4,929,000 | $2,331,000 | | Net cash used in investing activities | ($487,000) | ($349,000) | | Net cash used in financing activities | ($2,569,000) | ($2,772,000) | | **Increase (decrease) in cash** | **$1,873,000** | **($790,000)** | - The primary use of cash in financing activities was the repurchase of common stock, amounting to **$2,979,000** in the first nine months of 2023[19](index=19&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's business segments, revenue recognition policies, and significant transactions, including an investment in an unconsolidated affiliate and an ongoing lawsuit to recover a $490,000 deposit - The company operates in two segments: **Building Supply** (construction weatherization products) and **Disposable Protective Apparel** (garments, masks, shields)[22](index=22&type=chunk)[23](index=23&type=chunk) - The company has a **41.66% ownership interest** in Harmony Plastics Private Limited, a joint venture in India that manufactures building products and disposable apparel[40](index=40&type=chunk) - A lawsuit was filed to recover **$490,000** paid for equipment that was never delivered. The amount has been written off, and any potential recovery is a gain contingency[73](index=73&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=ITEM%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the 9.0% consolidated sales increase in Q3 2023 to a record quarter in the Building Supply segment, which offset a decline in the Disposable Protective Apparel segment, with improved gross profit margins due to lower freight costs [Results of Operations](index=23&type=section&id=Results%20of%20Operations) Q3 2023 sales rose 9.0% year-over-year to $16.1 million, driven by a 19.2% increase in Building Supply sales, partially offset by a 10.0% decrease in Disposable Protective Apparel sales, with gross margin improving to 37.6% Sales by Segment - Q3 2023 vs Q3 2022 | Segment | Q3 2023 Sales | Q3 2022 Sales | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Building Supply | $11,449,000 | $9,604,000 | +$1,845,000 | +19.2% | | Disposable Protective Apparel | $4,604,000 | $5,118,000 | -$514,000 | -10.0% | | **Consolidated** | **$16,053,000** | **$14,722,000** | **+$1,331,000** | **+9.0%** | - Building Supply segment had a record sales quarter, with housewrap sales increasing **25.7%** despite a **6.0%** decrease in U.S. housing starts, indicating market share gains[92](index=92&type=chunk)[93](index=93&type=chunk) - Disposable Protective Apparel sales declined due to a **60.6%** decrease in face mask sales and a **73.8%** decrease in face shield sales, attributed to residual excess inventories from the pandemic[96](index=96&type=chunk)[97](index=97&type=chunk) - Gross profit margin improved to **37.6%** in Q3 2023 from **32.7%** in Q3 2022, positively affected by lower ocean freight rates[101](index=101&type=chunk)[102](index=102&type=chunk) [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) The company's financial position remains robust, with cash and cash equivalents increasing to $18.2 million and working capital at $50.7 million, supported by healthy cash flow from operations and continued stock repurchases - As of September 30, 2023, the company had cash of **$18,163,000** and working capital of **$50,705,000**[117](index=117&type=chunk) - Net cash provided by operating activities for the nine months ended September 30, 2023 was **$4,929,000**, primarily driven by net income and a significant decrease in inventory[117](index=117&type=chunk)[118](index=118&type=chunk) - During the first nine months of 2023, the company repurchased **724,110 shares** of common stock for **$2,979,000**. As of September 30, 2023, **$1,217,000** was available for future repurchases[123](index=123&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=28&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a smaller reporting company, Alpha Pro Tech, Ltd. is not required to provide this information - The company is a smaller reporting company and is not required to provide the information otherwise required by this Item[126](index=126&type=chunk) [Controls and Procedures](index=28&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures as of September 30, 2023, concluding they were effective at a reasonable assurance level with no material changes to internal control over financial reporting - The principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were effective at the reasonable assurance level as of September 30, 2023[130](index=130&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[131](index=131&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=30&type=section&id=ITEM%201.%20Legal%20Proceedings) The company is pursuing a lawsuit filed in June 2022 against vendors for failing to deliver equipment for which the company paid $490,000, seeking compensatory damages and lost profits, with the deposit written off as a gain contingency - The company filed a lawsuit seeking compensatory damages of **$490,000** for equipment ordered but never delivered[132](index=132&type=chunk) - The **$490,000** balance has been written off as of September 30, 2023, and the final outcome of the lawsuit is uncertain[132](index=132&type=chunk) [Risk Factors](index=30&type=section&id=ITEM%201A.%20Risk%20Factors) There have been no material changes to the company's risk factors from those disclosed in its Annual Report on Form 10-K for the year ended December 31, 2022 - There have been no material changes to the risk factors previously disclosed in the 2022 Form 10-K[134](index=134&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=30&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3 2023, the company repurchased 249,110 shares of common stock for approximately $1.03 million under its expanded share repurchase program, with $1.22 million remaining available Issuer Purchases of Equity Securities (Q3 2023) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | July 2023 | 56,600 | $3.93 | | August 2023 | 48,600 | $4.00 | | September 2023 | 143,910 | $4.33 | | **Total Q3** | **249,110** | **$4.13** | - On June 22, 2023, the Board of Directors authorized a **$2,000,000** expansion of the existing share repurchase program[135](index=135&type=chunk) - As of September 30, 2023, **$1,217,000** was available for repurchase under the plan, which expires on December 15, 2024[135](index=135&type=chunk) [Exhibits](index=32&type=section&id=ITEM%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including the CEO and CFO certifications (31.1, 31.2, 32.1, 32.2) and the Interactive Data Files (101, 104)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-15725 Alpha Pro Tech, Ltd. (Exact Name of Registrant as Specified in Its Charter) Delaware, U.S.A. 63-1009183 (State or Other Jurisdiction of Inc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-15725 Alpha Pro Tech, Ltd. (Exact Name of Registrant as Specified in Its Charter) Delaware, U.S.A. 63-1009183 (State or Other Jurisdiction of In ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number: 001-15725 _________________________ ALPHA PRO TECH, LTD. (Exact Name of Registrant as Specified in Its Charter) ________________ Delaware 63-100918 ...