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CAPSTONE HOLDING CORP. 2024 ANNUAL REPORT Capstone Holding Corp. Board of Directors and Executive Officers as of October 1, 2025 BOARD OF DIRECTORS Name Matthew E. Lipman Michael Toporek Charles Dana John M. Holliman, III Gordon Strout Fredric J. Feldman, Ph.D. Elwood D. Howse, Jr. Principal Occupation or Employment Chief Executive Officer and Director of Capstone Holding Corp. Chairman of Capstone Holding Corp. and Managing General Partner of Brookstone Partners Operating Partner at Brookstone Partners General Partner of Valley Ventures venture capital funds Executive Chairman of the Instone Board of Directors Retired Retired EXECUTIVE OFFICERS Name Matthew Lipman Michael Toporek Edward Schultz Principal Occupation or Employment Chief Executive Officer Chairman Chief Financial Officer This Annual Report contains forward-looking statements. All statements contained in this Annual Report other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. Please read the section of our Annual Report on Form 10-K entitled Forward-Looking Statements for a discussion of the limitations and risks regarding forward-looking statements made in this Annual Report. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in Part I, Item 1A, Risk Factors of our Annual Report on Form 10-K included herein, which may cause actual results to differ materially from those contained in any forward-looking statements we may make. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.
 • shareholder letter icon 10/1/2025 Letter Continued (Full PDF)
 • Benford's Law Stocks icon CAPS Benford's Law Stock Score = 71


CAPS Shareholder/Stockholder Letter Transcript:

CAPSTONE HOLDING CORP. 2024 ANNUAL REPORT
Capstone Holding Corp. Board of Directors and Executive Officers as of October 1, 2025
BOARD OF DIRECTORS
Name
Matthew E. Lipman
Michael Toporek
Charles Dana
John M. Holliman, III
Gordon Strout
Fredric J. Feldman, Ph.D.
Elwood D. Howse, Jr.
Principal Occupation or Employment
Chief Executive Officer and Director of Capstone Holding Corp.
Chairman of Capstone Holding Corp. and Managing General Partner of
Brookstone Partners
Operating Partner at Brookstone Partners
General Partner of Valley Ventures venture capital funds
Executive Chairman of the Instone Board of Directors
Retired
Retired
EXECUTIVE OFFICERS
Name
Matthew Lipman
Michael Toporek
Edward Schultz
Principal Occupation or Employment
Chief Executive Officer
Chairman
Chief Financial Officer
This Annual Report contains forward-looking statements. All statements contained in this Annual Report other than
statements of historical fact, including statements regarding our future results of operations and financial position, our
business strategy and plans, and our objectives for future operations, are forward-looking statements. Please read the
section of our Annual Report on Form 10-K entitled    Forward-Looking Statements    for a discussion of the limitations
and risks regarding forward-looking statements made in this Annual Report. These forward-looking statements are
subject to a number of risks, uncertainties and assumptions, including those described in Part I, Item 1A,    Risk
Factors    of our Annual Report on Form 10-K included herein, which may cause actual results to differ materially from
those contained in any forward-looking statements we may make. We undertake no obligation to revise or publicly
release the results of any revision to these forward-looking statements, except as required by law. Given these risks and
uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.



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