defa14a
 

SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
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Advanced Photonix, Inc.
 
(Name of Registrant as Specified in Its Charter)
 
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ADVANCED PHOTONIX, INC.
1240 Avenida Acaso
Camarillo, CA 93012
PROXY SUPPLEMENT
TO
PROXY STATEMENT
FOR
ANNUAL MEETING OF SHAREHOLDERS
To be held on August 26, 2005
The purpose of this Proxy Supplement to the Proxy Statement dated July 18, 2005 (the “Proxy Statement”), for the 2005 Annual Meeting of Shareholders (the “Annual Meeting”) of Advanced Photonix, Inc. (the “Company”), to be held on August 26, 2005, is to amend the Summary Compensation Table included in the section entitled “Executive Compensation” in the Proxy Statement to reflect the correct amount of bonuses received by Richard D. Kurtz, Paul D. Ludwig and Susan A. Schmidt in fiscal year 2005.
The Summary Compensation Table included in the section entitled “Executive Compensation” in the Proxy Statement is hereby amended to read in its entirety as follows:
SUMMARY COMPENSATION TABLE
                                                                     
                                      Long Term Compensation          
                    Annual Compensation       Awards     Payouts          
                                              Securities                
                            Other Annual       Restricted     Underlying     LTIP       All Other  
            Salary     Bonus     Compensation       Stock Awards     Options     Payouts       Compensation  
Name and Principal Position   Fiscal Year     ($)     ($)     ($)       ($)     (#)     ($)       ($)1  
Richard D. Kurtz
     2005       168,000       40,320       —         —       28,000       —         10,700  
Chairman of the Board and
     2004       160,000       32,000       —         —       150,000       —         5,800  
Chief Executive Officer2
     2003       22,000       —       11,500         —       —       —         100  
             
Paul D. Ludwig
     2005       168,000       40,320       —         —       24,000                 18,100  
President
     2004       160,000       32,000       —         —       50,000       —         16,300  
 
     2003       97,000       —       4,000         —       100,000       —         7.000  
             
Susan A. Schmidt
     2005       103,000       20,444       —         —       20,000       —         18,200  
Chief Financial Officer and
     2004       99,000       16,000       —         —       —       —         14,100  
Secretary3
     2003       n/a       n/a       n/a         n/a       n/a       n/a         n/a  
             
Brock Koren
     2005       n/a       n/a       n/a         n/a       n/a       n/a         n/a  
President and Chief Executive
     2004       125,000       —       —         —       —       —         —  
Officer4
     2003       155,000       —       —         —       —       —         86,000  
             
1   Represents amounts paid by the Company on behalf of the named person in connection with the Company’s benefits plans, 401(k) Retirement Plan, vacation pay and car allowance.
2   Mr. Kurtz was appointed to the office of Chief Executive Officer in February 2003, following the resignation of Mr. Koren. Other annual compensation in 2003 reflects Director’s fees paid as part of plans provided to outside directors.
3   Ms. Schmidt joined the Company in March 2000; however, total compensation is not reported for fiscal year 2003, as annual salary and bonus did not exceed $100,000. Ms. Schmidt resigned from her position as Chief Financial Officer and Secretary in March 2005.
 
4   Mr. Koren resigned from his position as President in February 2003. Compensation continued through December 2003 under a severance agreement.
     
   
 
  By Order of the Board of Directors
Camarillo, California
July 28, 2005
  (-s- PAUL D. LUDWIG)
Paul D. Ludwig
  Acting Secretary