0001420520 2025-01-01 2025-12-31 0001420520 2024-01-01 2024-12-31 0001420520 2023-01-01 2023-12-31 0001420520 ATOM:ReportedValueOfEquityAwardsForCEOMember ecd:PeoMember 2025-01-01 2025-12-31 0001420520 ATOM:FairValueasofYearEndForAwardsGrantedDuringTheYearMember ecd:PeoMember 2025-01-01 2025-12-31 0001420520 ATOM:FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember ecd:PeoMember 2025-01-01 2025-12-31 0001420520 ATOM:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsGrantedAndVestedDuringTheYearMember ecd:PeoMember 2025-01-01 2025-12-31 0001420520 ATOM:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember ecd:PeoMember 2025-01-01 2025-12-31 0001420520 ATOM:ReportedValueOfEquityAwardsForCEOMember ecd:PeoMember 2024-01-01 2024-12-31 0001420520 ATOM:FairValueasofYearEndForAwardsGrantedDuringTheYearMember ecd:PeoMember 2024-01-01 2024-12-31 0001420520 ATOM:FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember ecd:PeoMember 2024-01-01 2024-12-31 0001420520 ATOM:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsGrantedAndVestedDuringTheYearMember ecd:PeoMember 2024-01-01 2024-12-31 0001420520 ATOM:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember ecd:PeoMember 2024-01-01 2024-12-31 0001420520 ATOM:ReportedValueOfEquityAwardsForCEOMember ecd:PeoMember 2023-01-01 2023-12-31 0001420520 ATOM:FairValueasofYearEndForAwardsGrantedDuringTheYearMember ecd:PeoMember 2023-01-01 2023-12-31 0001420520 ATOM:FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember ecd:PeoMember 2023-01-01 2023-12-31 0001420520 ATOM:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsGrantedAndVestedDuringTheYearMember ecd:PeoMember 2023-01-01 2023-12-31 0001420520 ATOM:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember ecd:PeoMember 2023-01-01 2023-12-31 0001420520 ATOM:ReportedValueOfEquityAwardsForNonCeoNeosMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001420520 ATOM:FairValueasofYearEndForAwardsGrantedDuringTheYearMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001420520 ATOM:FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001420520 ATOM:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsGrantedAndVestedDuringTheYearMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001420520 ATOM:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001420520 ATOM:ReportedValueOfEquityAwardsForNonCeoNeosMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0001420520 ATOM:FairValueasofYearEndForAwardsGrantedDuringTheYearMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0001420520 ATOM:FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0001420520 ATOM:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsGrantedAndVestedDuringTheYearMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0001420520 ATOM:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0001420520 ATOM:ReportedValueOfEquityAwardsForNonCeoNeosMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001420520 ATOM:FairValueasofYearEndForAwardsGrantedDuringTheYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001420520 ATOM:FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001420520 ATOM:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsGrantedAndVestedDuringTheYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001420520 ATOM:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 iso4217:USD false 0001420520 DEF 14A ATOMERA INCORPORATED true Equity Award Grant Policies Our Compensation Committee reviews and approves annual equity award grants to our executive officers. Over the past several years, the practice of our Compensation Committee has been to conduct annual grants to our executive officers in the first quarter of each year following the publication of our earnings release and/or filing of our Annual Report on Form 10-K for the prior fiscal year. Our Compensation Committee takes into account the presence of any material nonpublic information concerning our Company when approving awards of options. Our Compensation Committee reviews and approves annual equity award grants to our executive officers. Over the past several years, the practice of our Compensation Committee has been to conduct annual grants to our executive officers in the first quarter of each year following the publication of our earnings release and/or filing of our Annual Report on Form 10-K for the prior fiscal year. Our Compensation Committee takes into account the presence of any material nonpublic information concerning our Company when approving awards of options. true <table cellpadding="0" cellspacing="0" id="xdx_880_eecd--PvpTableTextBlock_zSScf52vJ184" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; text-align: center">Year</td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Summary Compensation Table Total for CEO(1)</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Compensation Actually Paid to CEO(2)</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Average Summary Compensation Table Total for Non-CEO NEOs(3)</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Average Compensation Actually Paid to Non-CEO NEOs(4)</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Value of Initial Fixed $100 Investment Based On Total Shareholder Return(5)</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Net Loss</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #EEEEEE"> <td style="width: 10%; text-align: center">2025</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td id="xdx_987_eecd--PeoTotalCompAmt_c20250101__20251231_zaN5QdV0A2Fa" style="width: 12%; text-align: right">2,544,647</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td id="xdx_986_eecd--PeoActuallyPaidCompAmt_c20250101__20251231_zITvb7iCPUZb" style="width: 12%; text-align: right">(1,483,271</td> <td style="width: 1%">)</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td id="xdx_989_eecd--NonPeoNeoAvgTotalCompAmt_c20250101__20251231_zUeAmoZC9BNj" style="width: 12%; text-align: right">1,215,054</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td id="xdx_984_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20250101__20251231_z9O9bvouGzL7" style="width: 12%; text-align: right">(351,953</td> <td style="width: 1%">)</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td id="xdx_989_eecd--TotalShareholderRtnAmt_pp2p0_c20250101__20251231_zAW7tjmeCeF4" style="width: 12%; text-align: right">35.53</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td id="xdx_985_eus-gaap--NetIncomeLoss_c20250101__20251231_zf1ccJbK6hM3" style="width: 12%; text-align: right">(20,174,000</td> <td style="width: 1%">)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: center">2024</td> <td> </td> <td>$</td> <td id="xdx_98E_eecd--PeoTotalCompAmt_c20240101__20241231_zd07LGi5JFVg" style="text-align: right">2,042,656</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_982_eecd--PeoActuallyPaidCompAmt_c20240101__20241231_z6W4MSTbcpW5" style="text-align: right">4,395,802</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_98A_eecd--NonPeoNeoAvgTotalCompAmt_c20240101__20241231_zKv8rCJhlc81" style="text-align: right">999,328</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_982_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20240101__20241231_z8m4WiUS3Xd8" style="text-align: right">1,825,834</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_98A_eecd--TotalShareholderRtnAmt_pp2p0_c20240101__20241231_zgMkSHSaM5Wk" style="text-align: right">186.50</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_983_eus-gaap--NetIncomeLoss_c20240101__20241231_zqwKpfcsGu92" style="text-align: right">(18,435,000</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #EEEEEE"> <td style="text-align: center">2023</td> <td> </td> <td>$</td> <td id="xdx_985_eecd--PeoTotalCompAmt_c20230101__20231231_zNrk9nAUVFv6" style="text-align: right">1,838,126</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_98D_eecd--PeoActuallyPaidCompAmt_c20230101__20231231_zfUCmRYPP6rl" style="text-align: right">2,400,949</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_989_eecd--NonPeoNeoAvgTotalCompAmt_c20230101__20231231_zRCRWLk8Dw7f" style="text-align: right">879,814</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_98D_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20230101__20231231_zkgwMPZ80akk" style="text-align: right">1,073,253</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_987_eecd--TotalShareholderRtnAmt_pp2p0_c20230101__20231231_zoeq4RbJsyga" style="text-align: right">112.70</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_989_eus-gaap--NetIncomeLoss_c20230101__20231231_zCNNmyLzFdBj" style="text-align: right">(19,790,000</td> <td>)</td></tr> </table> 2544647 -1483271 1215054 -351953 35.53

-20174000

2042656 4395802 999328 1825834 186.50

-18435000

1838126 2400949 879814 1073253 112.70

-19790000

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 2%">(1)</td> <td style="padding-top: 3pt; width: 98%; text-align: justify">The dollar amounts reported are the amounts of total compensation reported for our CEO, Scott Bibaud, in the Summary Compensation Table for fiscal years 2025, 2024 and 2023.</td></tr> <tr style="vertical-align: top"> <td>(2)</td> <td style="text-align: justify">The dollar amounts reported represent the amount of “compensation actually paid”, as computed in accordance with SEC rules. The dollar amounts reported are the amounts of total compensation reported for Mr. Bibaud during the applicable year, excluding the reported value for equity awards but including (i) the year-end value of equity awards granted during the reported year, (ii) the change in the value of equity awards that were unvested at the end of the prior year, measured through the date the awards vested, or through the end of the reported fiscal year, and (iii) value of equity awards issued and vested during the reported fiscal year. See Table below for further information.</td></tr> <tr style="vertical-align: top"> <td>(3)</td> <td style="text-align: justify">The dollar amounts reported are the average of the total compensation reported for our NEOs, other than our CEO, namely Francis Laurencio and Robert Mears, in the Summary Compensation Table for fiscal years 2025, 2024 and 2023.</td></tr> <tr style="vertical-align: top"> <td>(4)</td> <td style="text-align: justify">The dollar amounts reported represent the average amount of “compensation actually paid”, as computed in accordance with SEC rules, for our NEOs, other than our CEO. The dollar amounts reported are the average of the total compensation reported for our NEOs, other than our CEO in the Summary Compensation Table for fiscal years 2025, 2024 and 2023, excluding the reported value for equity awards but including (i) the year-end value of equity awards granted during the reported year, (ii) the change in the value of equity awards that were unvested at the end of the prior year, measured through the date the awards vested, or through the end of the reported fiscal year, and (iii) value of equity awards issued and vested during the reported fiscal year.</td></tr> <tr style="vertical-align: top"> <td>(5)</td> <td style="text-align: justify">Reflects the cumulative shareholder return, computed in accordance with SEC rules, as of the end of each fiscal year assuming an investment of $100 in our common shares at a price per share equal to $6.22, the closing price of our common stock on December 31, 2022.</td></tr> </table> Scott Bibaud Scott Bibaud Scott Bibaud To calculate the amounts in the “Compensation Actually Paid to CEO” column in the table above, the following amounts were deducted from and added to (as applicable) our CEO’s “Total” compensation as reported in the Summary Compensation Table: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year</td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Summary Compensation Table Total for CEO</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Reported Value of Equity Awards for CEO(1)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value as of Year End for Awards Granted During the Year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Year over Year Increase or Decrease in Unvested Awards Granted in Prior Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Increase or Decrease from Prior Year End for Awards Granted and Vested During the Year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Increase or Decrease from Prior Year End for Awards that Vested during the Year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Compensation Actually Paid to CEO</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 13%; font-weight: bold; text-align: center">2025</td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eecd--PeoTotalCompAmt_c20250101__20251231_zjl9fEyE06ad" style="width: 11%; text-align: right">2,544,647</td><td style="width: 1%; text-align: left"> </td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98E_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ReportedValueOfEquityAwardsForCEOMember_z1Q4wd038zHe" style="width: 11%; text-align: right">(1,688,764</td><td style="width: 1%; text-align: left">)</td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_989_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueasofYearEndForAwardsGrantedDuringTheYearMember_z3KN9EMOZnxi" style="width: 11%; text-align: right">310,688</td><td style="width: 1%; text-align: left"> </td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98E_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember_z8rqbO1WJ1Fd" style="width: 10%; text-align: right">(1,802,612</td><td style="width: 1%; text-align: left">)</td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_982_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsGrantedAndVestedDuringTheYearMember_znN92sQhrGo5" style="width: 10%; text-align: right">101,389</td><td style="width: 1%; text-align: left"> </td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_988_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember_zWjJgpEWQBSl" style="width: 10%; text-align: right">(948,619</td><td style="width: 1%; text-align: left">)</td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eecd--PeoActuallyPaidCompAmt_c20250101__20251231_zDaMMZgHEiZ4" style="width: 10%; text-align: right">(1,483,271</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: center">2024</td> <td style="text-align: left">$</td><td id="xdx_98E_eecd--PeoTotalCompAmt_c20240101__20241231_zSZpcwHiTjXd" style="text-align: right">2,042,656</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98A_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ReportedValueOfEquityAwardsForCEOMember_zpITMOmUJlx2" style="text-align: right">(1,307,822</td><td style="text-align: left">)</td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98C_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueasofYearEndForAwardsGrantedDuringTheYearMember_z6SlfKH5Lhp2" style="text-align: right">2,021,005</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_981_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember_zULlI7c7O59h" style="text-align: right">1,331,942</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_985_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsGrantedAndVestedDuringTheYearMember_zqz7B7ghmJOk" style="text-align: right">158,038</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98F_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember_zPWC6WDHbHml" style="text-align: right">149,983</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td id="xdx_982_eecd--PeoActuallyPaidCompAmt_c20240101__20241231_zge4Cj8vmbp" style="text-align: right">4,395,802</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: center">2023</td> <td style="text-align: left">$</td><td id="xdx_985_eecd--PeoTotalCompAmt_c20230101__20231231_zar213fT8FC3" style="text-align: right">1,838,126</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98A_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ReportedValueOfEquityAwardsForCEOMember_zcCzGwPJIFpd" style="text-align: right">(1,201,625</td><td style="text-align: left">)</td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_984_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueasofYearEndForAwardsGrantedDuringTheYearMember_zVH0txuGZ0Uf" style="text-align: right">1,051,933</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_986_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember_zaoUMxUhn4ub" style="text-align: right">251,309</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98B_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsGrantedAndVestedDuringTheYearMember_z2DeFUWMC5kg" style="text-align: right">254,438</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_983_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember_z4wB3h6L0Bik" style="text-align: right">206,768</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td id="xdx_988_eecd--PeoActuallyPaidCompAmt_c20230101__20231231_zfvbohA90E69" style="text-align: right">2,400,949</td><td style="text-align: left"> </td></tr> </table> ___________ <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 2%">(1)</td> <td style="width: 98%">Represents the grant date fair value of the equity awards to our CEO, as reported in the Summary Compensation Table</td></tr> </table> 2544647 -1688764 310688 -1802612 101389 -948619 -1483271 2042656 -1307822 2021005 1331942 158038 149983 4395802 1838126 -1201625 1051933 251309 254438 206768 2400949 To calculate the amounts in the “Compensation Actually Paid to Non-CEO NEOs” column in the table above, the following amounts were deducted from and added to (as applicable) the average “Total” compensation of our Non-CEO NEOs as reported in the Summary Compensation Table: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year</td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Summary Compensation Table Total for Non-CEO NEOs</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Reported Value of Equity Awards for Non-CEO NEOs(1)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value as of Year End for Awards Granted During the Year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Year over Year Increase or Decrease in Unvested Awards Granted in Prior Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Increase or Decrease from Prior Year end for Awards Granted and Vested During the Year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Increase or Decrease from Prior Year end for Awards that Vested during the Year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Compensation Actually Paid to Non-CEO NEOs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 13%; font-weight: bold; text-align: center">2025</td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eecd--NonPeoNeoAvgTotalCompAmt_c20250101__20251231_zCqezyeUB4m" style="width: 11%; text-align: right">1,215,054</td><td style="width: 1%; text-align: left"> </td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_987_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ReportedValueOfEquityAwardsForNonCeoNeosMember_z9b6ON9ObZW" style="width: 11%; text-align: right">(714,467</td><td style="width: 1%; text-align: left">)</td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_985_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueasofYearEndForAwardsGrantedDuringTheYearMember_zQahNiHshieh" style="width: 11%; text-align: right">131,443</td><td style="width: 1%; text-align: left"> </td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_986_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember_zQn0z0xEB7Rk" style="width: 10%; text-align: right">(674,337</td><td style="width: 1%; text-align: left">)</td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98F_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsGrantedAndVestedDuringTheYearMember_z0FlYOIcjQAg" style="width: 10%; text-align: right">42,896</td><td style="width: 1%; text-align: left"> </td> <td style="width: 1%; text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_986_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember_z6VywjBms0p3" style="width: 10%; text-align: right">(352,541</td><td style="width: 1%; text-align: left">)</td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20250101__20251231_zTVulIdrKGUh" style="width: 10%; text-align: right">(351,953</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: center">2024</td> <td style="text-align: left">$</td><td id="xdx_98A_eecd--NonPeoNeoAvgTotalCompAmt_c20240101__20241231_zrwMoJAQTZN8" style="text-align: right">999,328</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_984_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ReportedValueOfEquityAwardsForNonCeoNeosMember_zyjGZrDf7IK2" style="text-align: right">(502,578</td><td style="text-align: left">)</td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98D_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueasofYearEndForAwardsGrantedDuringTheYearMember_zCPv4ahOUAL3" style="text-align: right">770,476</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_983_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember_za6sC6fWFMC6" style="text-align: right">456,147</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98E_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsGrantedAndVestedDuringTheYearMember_zTZZFKznhAlj" style="text-align: right">61,105</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_980_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember_zHB17Tk0HoYk" style="text-align: right">41,356</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td id="xdx_982_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20240101__20241231_zmLtllVVtWz7" style="text-align: right">1,825,834</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: center">2023</td> <td style="text-align: left">$</td><td id="xdx_984_eecd--NonPeoNeoAvgTotalCompAmt_c20230101__20231231_zDqeYlFLNUwf" style="text-align: right">879,814</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_987_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ReportedValueOfEquityAwardsForNonCeoNeosMember_zK59WzztcTuj" style="text-align: right">(440,565</td><td style="text-align: left">)</td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_989_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueasofYearEndForAwardsGrantedDuringTheYearMember_zktJuSHEZr83" style="text-align: right">385,230</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_981_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember_zbZiAaDeqBI6" style="text-align: right">87,282</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98E_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsGrantedAndVestedDuringTheYearMember_zQjYpuVoeJUj" style="text-align: right">93,105</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td class="xdx_phnt_RGlzY2xvc3VyZSAtIFBheSB2cyBQZXJmb3JtYW5jZSBEaXNjbG9zdXJlAA__" id="xdx_98A_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember_zxdp1RPmuLHl" style="text-align: right">68,387</td><td style="text-align: left"> </td> <td style="text-align: left">$</td><td id="xdx_984_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20230101__20231231_zSrDvakmFmtj" style="text-align: right">1,073,253</td><td style="text-align: left"> </td></tr> </table> ___________ <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 3pt; width: 2%">(1)</td> <td style="padding-top: 3pt; width: 98%">Represents the grant date fair value of the equity awards to our Non-CEO NEOs, as reported in the Summary Compensation Table</td></tr> </table> 1215054 -714467 131443 -674337 42896 -352541 -351953 999328 -502578 770476 456147 61105 41356 1825834 879814 -440565 385230 87282 93105 68387 1073253 Our “total shareholder return,” as set forth in the above table, during the three-year period ended December 31, 2025 decreased by 68% compared to (a) a 162% decrease in “compensation actually paid” to our CEO from $2,400,949 in 2023 to $(1,483,271) in 2025 and (b) a 133% decrease in average “compensation actually paid” to our non-CEO NEOs from 1,073,253 in 2023 to $(351,953) in 2025. 2400949 -1483271 1073253 -351953 Our net loss during the three-year period ended December 31, 2025 increased by 2%, from $(19,790,000) in 2023 to $(20,174,000) in 2025 compared to the aforementioned decreases in “compensation actually paid” to our CEO and non-CEO NEOs.

-19790000

-20174000