0000056868
2025-01-01
2025-12-31
0000056868
2023-01-01
2023-12-31
0000056868
2024-01-01
2024-12-31
iso4217:USD
false
0000056868
DEF 14A
PRIMEENERGY RESOURCES CORPORATION
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><a href="#" id="PAYVERSUS"></a>PAY VERSUS PERFORMANCE</b></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<div>
<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">
<tbody><tr>
<td style="border-width: 1px; border-style: solid; border-color: black black rgb(0, 0, 0); vertical-align: bottom; width: 8.7%;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.4%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.7%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 6.5%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.4%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.7%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 6.5%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.4%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.7%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 6.5%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.4%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.7%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 6.5%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.4%; border-top: 1px solid black;"> </td>
<td colspan="2" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 6.2%; border-top: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Value of Initial</b><br/>
<b>Fixed $100</b><br/>
<b>Investment</b><br/>
<b>based on:</b></p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.4%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.6%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 5.2%; border-top: 1px solid black;"> </td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.4%; border-right: 1px solid black; border-top: 1px solid black;"> </td>
</tr>
<tr>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 8.7%; border-left: 1px solid black; border-right: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 9pt;"><b>Year</b></p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td colspan="2" style="border-bottom:solid 1px #000000;vertical-align:bottom;width:7.1%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Summary</b><br/>
<b>Compensation</b></p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Table Total</b><br/>
<b>for PEO</b></p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td colspan="2" style="border-bottom:solid 1px #000000;vertical-align:bottom;width:7.1%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Compensation</b></p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Actually</b></p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Paid to PEO (1)</b></p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td colspan="2" style="border-bottom:solid 1px #000000;vertical-align:bottom;width:7.1%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Average</b></p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Summary</b><br/>
<b>Compensation</b></p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Table</b><br/>
<b>Total for</b><br/>
<b>non-PEO</b></p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Named</b><br/>
<b>Executive</b></p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Officers (2)</b></p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td colspan="2" style="border-bottom:solid 1px #000000;vertical-align:bottom;width:7.1%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Average</b></p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Compensation</b><br/>
<b>Actually Paid</b><br/>
<b>to non-PEO</b><br/>
<b>Named</b></p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Executive</b><br/>
<b>Officers (1)</b></p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td colspan="2" style="border-bottom:solid 1px #000000;vertical-align:bottom;width:6.2%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Total</b></p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Shareholder</b></p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Return (3)</b></p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td colspan="2" style="border-bottom:solid 1px #000000;vertical-align:bottom;width:5.8%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Net Income</b></p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.4%; border-right: 1px solid black;"> </td>
</tr>
<tr>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 8.7%; border-left: 1px solid black; border-right: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 9pt;">2025</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.7%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:6.5%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">4,962,790</p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.7%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:6.5%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">4,962,790</p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.7%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:6.5%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">2,757,553</p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.7%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:6.5%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">2,757,553</p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.6%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:5.5%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">196.65</p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.6%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:5.2%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">26,312,000</p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.4%; border-right: 1px solid black;"> </td>
</tr>
<tr>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 8.7%; border-left: 1px solid black; border-right: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 9pt;">2024</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.7%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:6.5%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">4,924,536</p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.7%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:6.5%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">4,924,536</p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.7%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:6.5%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">2,724,178</p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.7%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:6.5%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">2,724,178</p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.6%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:5.5%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">252.53</p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.3%; border-right: 1px solid black;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.4%;"> </td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:0.6%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:5.2%;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">55,404,000</p>
</td>
<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 0.4%; border-right: 1px solid black;"> </td>
</tr>
<tr>
<td style="vertical-align: bottom; width: 8.7%; border-left: 1px solid black; border-right: 1px solid black; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 9pt;">2023</p>
</td>
<td style="vertical-align: bottom; width: 0.4%; border-bottom: 1px solid black;"> </td>
<td style="vertical-align: bottom; width: 0.7%; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="vertical-align: bottom; width: 6.5%; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">4,605,562</p>
</td>
<td style="vertical-align: bottom; width: 0.3%; border-right: 1px solid black; border-bottom: 1px solid black;"> </td>
<td style="vertical-align: bottom; width: 0.4%; border-bottom: 1px solid black;"> </td>
<td style="vertical-align: bottom; width: 0.7%; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="vertical-align: bottom; width: 6.5%; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">4,605,562</p>
</td>
<td style="vertical-align: bottom; width: 0.3%; border-right: 1px solid black; border-bottom: 1px solid black;"> </td>
<td style="vertical-align: bottom; width: 0.4%; border-bottom: 1px solid black;"> </td>
<td style="vertical-align: bottom; width: 0.7%; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="vertical-align: bottom; width: 6.5%; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">2,389,752</p>
</td>
<td style="vertical-align: bottom; width: 0.3%; border-right: 1px solid black; border-bottom: 1px solid black;"> </td>
<td style="vertical-align: bottom; width: 0.4%; border-bottom: 1px solid black;"> </td>
<td style="vertical-align: bottom; width: 0.7%; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="vertical-align: bottom; width: 6.5%; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">2,389,752</p>
</td>
<td style="vertical-align: bottom; width: 0.3%; border-right: 1px solid black; border-bottom: 1px solid black;"> </td>
<td style="vertical-align: bottom; width: 0.4%; border-bottom: 1px solid black;"> </td>
<td style="vertical-align: bottom; width: 0.6%; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="vertical-align: bottom; width: 5.5%; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">122.30</p>
</td>
<td style="vertical-align: bottom; width: 0.3%; border-right: 1px solid black; border-bottom: 1px solid black;"> </td>
<td style="vertical-align: bottom; width: 0.4%; border-bottom: 1px solid black;"> </td>
<td style="vertical-align: bottom; width: 0.6%; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
</td>
<td style="vertical-align: bottom; width: 5.2%; border-bottom: 1px solid black;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;">28,103,000</p>
</td>
<td style="vertical-align: bottom; width: 0.4%; border-right: 1px solid black; border-bottom: 1px solid black;"> </td>
</tr>
</tbody></table>
</div>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">
<tbody><tr style="vertical-align: top;">
<td style="width: 27pt;">
<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">(1)</p>
</td>
<td style="width: auto;">
<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">Because our named executive officers have not received any equity awards, or held any unvested equity awards, in each of the years presented in the table, total Compensation is equal to Compensation actually paid, therefore, no reconciliation is presented.</p>
</td>
</tr>
</tbody></table>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">
<tbody><tr style="vertical-align: top;">
<td style="width: 27pt;">
<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">(2)</p>
</td>
<td style="width: auto;">
<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">The Non-PEO Named Executive Officers for each year shown include Ms. Cummings as she was the only executive officer other than our Chief Executive Officer for each year shown.</p>
</td>
</tr>
</tbody></table>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">
<tbody><tr style="vertical-align: top;">
<td style="width: 27pt;">
<p style="margin: 0pt; text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;">(3)</p>
</td>
<td style="width: auto;">
<p style="margin: 0pt; text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;">Total Shareholder Return represents the cumulative value of a $100 investment in the Company’s common stock, measured from the beginning of the earliest year presented. The calculation assumes reinvestment of dividends, although the Company has not paid any dividends during the periods presented.</p>
</td>
</tr>
</tbody></table>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
4962790
4962790
2757553
2757553
196.65
26312000
4924536
4924536
2724178
2724178
252.53
55404000
4605562
4605562
2389752
2389752
122.3
28103000
true