Punctelia bolliana

Punctelia bolliana, the eastern speckled shield lichen, is a species of foliose lichen in the family Parmeliaceae. It is found in North America, with a distribution extending from the Canadian province of Ontario south to the central and northeastern United States and Mexico. It grows on the bark of both deciduous trees and coniferous trees. The combination of characteristics that distinguishes this species from others in genus Punctelia are the absence of the vegetative propagules isidia and soralia, a pale brown lower thallus surface, and the presence of the secondary chemical protolichesterinic acid in the medulla....read more on Wikipedia.