Pay Versus Performance

The following table sets forth information concerning the compensation of our named executive officers for each of the fiscal years ended December 31, 2025 and 2024, as applicable, and our financial performance for each such fiscal year:


									Value of Initial Fixed $100 Investment Based on:
Year	Summary Compensation Table Total for PEO ($)		Compensation Actually Paid to PEO ($)(1)(2)		Average Summary Compensation Table Total for Non-PEO NEOs ($)		Average Compensation Actually Paid to Non-PEO NEOs ($)(1)(2)		Total Stockholder Return ("TSR") ($)		Net Loss (in thousands) ($)
2025		2,344,966		3,194,176		928,737		1,277,410		331.34		(34,280	)
2024		1,576,634		3,004,914		916,438		1,588,179		254.70		(31,404	)

(1)

Amounts represent compensation actually paid to our PEO and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below). Mr. Curtis was our PEO for 2024 and 2025. Mr. Connaughton and Mr. Staab were our Non-PEO NEOs for 2024 and 2025.

(2)

The amounts reported in the “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to Non-PEO NEOs” columns do not reflect the actual compensation paid to or realized by our PEO or our non-PEO NEOs during each applicable year. The calculation of compensation actually paid for purposes of this table includes point-in-time fair values of stock awards and these values will fluctuate based on our stock price, various accounting valuation assumptions and projected performance related to our performance awards. The fair value of equity awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards. See the Summary Compensation Table for certain other compensation of our PEO and our non-PEO NEOs for each applicable fiscal year. For additional information on the assumptions used to calculate the valuation of the awards, see the Notes to Consolidated Financial Statements in our 2025 Form 10-K for the fiscal year ended December 31, 2025 and prior fiscal years.

Compensation actually paid to our named executive officers represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:


	2025						2024
Adjustments	PEO ($)			Average Non-PEO NEOs ($)			PEO ($)			Average Non-PEO NEOs ($)
Total Compensation for Covered Fiscal Year from Summary Compensation Table		2,344,966			928,737			1,576,634			916,438
Deduct Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year		(1,307,238	)		(256,000	)		(458,388	)		(205,440	)
Add Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards in Fiscal Year		1,484,686			290,750			1,276,632			572,160
Add Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards in Prior Fiscal Years		442,653			203,909			516,159			258,080
Add Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year		—			—			—			—
Add Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years for Which Applicable Vesting Conditions Were Satisfied During Fiscal Year		229,109			110,014			93,877			46,941
Deduct Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year		—			—			—			—
Total Compensation Actually Paid		3,194,176			1,277,410			3,004,914			1,588,179

The fair value of equity awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards.

Relationship Between Financial Performance Measures

The graphs below compare the compensation actually paid to our principal executive officer and the average of the compensation actually paid to our remaining named executive officers, with (i) our cumulative TSR and (ii) our Net

Loss, in each case, for the fiscal years ended December 31, 2025 and 2024. TSR amounts reported in the graph assume an initial fixed investment of $100, and that all dividends, if any, were reinvested.

Named Executive Officers, Footnote

PEO Total Compensation Amount

$ 2,344,966

$ 1,576,634

PEO Actually Paid Compensation Amount

$ 3,194,176

3,004,914

Adjustment To PEO Compensation, Footnote

(2)

Compensation actually paid to our named executive officers represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:


	2025						2024
Adjustments	PEO ($)			Average Non-PEO NEOs ($)			PEO ($)			Average Non-PEO NEOs ($)
Total Compensation for Covered Fiscal Year from Summary Compensation Table		2,344,966			928,737			1,576,634			916,438
Deduct Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year		(1,307,238	)		(256,000	)		(458,388	)		(205,440	)
Add Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards in Fiscal Year		1,484,686			290,750			1,276,632			572,160
Add Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards in Prior Fiscal Years		442,653			203,909			516,159			258,080
Add Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year		—			—			—			—
Add Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years for Which Applicable Vesting Conditions Were Satisfied During Fiscal Year		229,109			110,014			93,877			46,941
Deduct Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year		—			—			—			—
Total Compensation Actually Paid		3,194,176			1,277,410			3,004,914			1,588,179

Non-PEO NEO Average Total Compensation Amount

$ 928,737

916,438

Non-PEO NEO Average Compensation Actually Paid Amount

$ 1,277,410

1,588,179

Adjustment to Non-PEO NEO Compensation Footnote

(2)

Compensation actually paid to our named executive officers represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:


	2025						2024
Adjustments	PEO ($)			Average Non-PEO NEOs ($)			PEO ($)			Average Non-PEO NEOs ($)
Total Compensation for Covered Fiscal Year from Summary Compensation Table		2,344,966			928,737			1,576,634			916,438
Deduct Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year		(1,307,238	)		(256,000	)		(458,388	)		(205,440	)
Add Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards in Fiscal Year		1,484,686			290,750			1,276,632			572,160
Add Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards in Prior Fiscal Years		442,653			203,909			516,159			258,080
Add Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year		—			—			—			—
Add Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years for Which Applicable Vesting Conditions Were Satisfied During Fiscal Year		229,109			110,014			93,877			46,941
Deduct Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year		—			—			—			—
Total Compensation Actually Paid		3,194,176			1,277,410			3,004,914			1,588,179