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Reservoir Media, Inc.
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We do not have a formal policy relating to the timing of equity grants under the 2021 Incentive Plan, but in practice, we do not take material nonpublic information into account when determining the timing or terms of awards and do not grant awards in anticipation of material nonpublic information.
<table style="width:456pt;height:74.5pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:81.6pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:-0.16pt;">Fiscal Year </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.5pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.5pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Summary <br/> Compensation <br/> Table Total For <br/> PEO($)</span><span style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(1)</span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.5pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.5pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Compensation <br/> Actually Paid to <br/> PEO($)</span><span style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(1)(2)</span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.5pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.5pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Average Summary <br/> Compensation Table <br/> Total for Non-PEO <br/> NEOs($)</span><span style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(1)(3)</span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.5pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.5pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Average <br/> Compensation <br/> Actually Paid to <br/> Non-PEO <br/> NEOs ($)</span><span style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">1)(3)</span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.5pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.5pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Value of Initial Fixed <br/> $100 Investment Based <br/> On Total Shareholder <br/> Return ($)</span><span style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">4)</span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.5pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:2.5pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Net Income <br/> ($)</span><span style=" position:relative; bottom:3.25pt;line-height:5pt;font-size:5pt;letter-spacing:-0.12pt;">(5)</span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;"></td> </tr> <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:3.25pt 0pt 1.5pt 0pt; width:81.6pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:0.2pt;">2026 </span> </div> </td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt;padding-left:5.705pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,594,984</td> <td style="padding:0pt;padding-left:5.705pt;width:0pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt;padding-left:6.92pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,881,343</td> <td style="padding:0pt;padding-left:6.92pt;width:0pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt;padding-left:13.765pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,762,268</td> <td style="padding:0pt;padding-left:13.765pt;width:0pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt;padding-left:6.92pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">2,232,401</td> <td style="padding:0pt;padding-left:6.92pt;width:0pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt;padding-left:24.015pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">123.46</td> <td style="padding:0pt;padding-left:24.015pt;width:0pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">7,826,515</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:3.5pt 0pt 1.5pt 0pt; width:81.6pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:0.2pt;">2025 </span> </div> </td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt;padding-left:5.705pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,578,649</td> <td style="padding:0pt;padding-left:5.705pt;width:0pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt;padding-left:6.92pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,590,865</td> <td style="padding:0pt;padding-left:6.92pt;width:0pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt;padding-left:13.765pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,570,620</td> <td style="padding:0pt;padding-left:13.765pt;width:0pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt;padding-left:6.92pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,556,528</td> <td style="padding:0pt;padding-left:6.92pt;width:0pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt;padding-left:24.015pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">96.22</td> <td style="padding:0pt;padding-left:24.015pt;width:0pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt; width:2.5pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">7,731,397</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> </table>
<div style="margin-top:13.69pt; width:456pt;">
<div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; "></div>
</div>
<div style=" float:left; margin-top:9.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"> <span style="letter-spacing:0.2pt;">(1)</span> <br/> </div>
<div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;"> <span style="letter-spacing:0.2pt;">Our Principal Executive Officer for both fiscal years presented was Golnar Khosrowshahi, Chief Executive Officer. Our Non-PEO NEOs for both fiscal years were Rell Lafargue, President and Chief Operating Officer, and Jim Heindlmeyer, Chief Financial Officer. </span> </div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; line-height:12pt; margin-top:5.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">(2)</span>
<br/>
</div>
<div style=" margin-top:5.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
<span style="letter-spacing:0.2pt;">Represents the amount of total compensation reported for Ms. Khosrowshahi (our Chief Executive Officer) and the average total compensation for our non-PEO NEOs for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation-Summary Compensation Table.” </span>
</div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; line-height:12pt; margin-top:5.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"> <span style="letter-spacing:0.2pt;">(3)</span> <br/> </div>
<div style=" margin-top:5.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
<span style="letter-spacing:0.2pt;">Represents the amount of Compensation Actually Paid (“</span><span style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">CAP</span><span style="letter-spacing:0.2pt;">”) to Ms. Khosrowshahi and the average amount of CAP to our Non-PEO NEOs, respectively, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the reported total compensation for each year to determine the CAP: </span>
</div><table style="width:436pt;height:238pt;margin-left:20pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:226.34pt;text-align:left;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="10" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;"> <div style="white-space:nowrap; text-align:center;"> <span style="letter-spacing:-0.16pt;">2026 </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="10" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;"> <div style="white-space:nowrap; text-align:center;"> <span style="letter-spacing:-0.16pt;">2025 </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;"></td> </tr> <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:226.34pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:-0.16pt;">Adjustments† </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="white-space:nowrap; text-align:center;"> <span style="letter-spacing:-0.16pt;">PEO($) </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Average of <br/> Non-PEO <br/> NEOs($) </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="white-space:nowrap; text-align:center;"> <span style="letter-spacing:-0.16pt;">PEO($) </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Average of <br/> Non-PEO <br/> NEOs($) </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;"></td> </tr> <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:3.25pt 0pt 1.5pt 0pt; width:226.34pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:0.2pt;">SCT Total Amounts </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,594,984</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,762,268</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,578,649</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,570,620</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:2.167pt 0pt 0.833pt 0pt; width:226.34pt;white-space:normal;text-align:left;"> <div style="margin-left:10pt; text-indent:-10pt;"> <span style="letter-spacing:0.2pt;">(Subtraction): Grant date fair value of stock awards reported in SCT </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(920,000<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(992,476<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(920,000<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(813,444<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:2.167pt 0pt 0.833pt 0pt; width:226.34pt;text-align:left;"> <div style="margin-left:10pt; text-indent:-10pt;"> <span style="letter-spacing:0.2pt;">Addition: Fair value at fiscal year-end of outstanding <br/> and unvested stock awards granted in covered <br/> fiscal year </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,233,804</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,331,004</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">910,450</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">805,003</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:2.167pt 0pt 0.833pt 0pt; width:226.34pt;text-align:left;"> <div style="margin-left:10pt; text-indent:-10pt;"> <span style="letter-spacing:0.2pt;">Addition (Subtraction): Change in fair value as of <br/> fiscal year end of stock awards granted in prior <br/> fiscal years for which applicable vesting conditions <br/> were not satisfied during the covered fiscal year </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;"><span style="-sec-ix-hidden: hidden-fact-1">—</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">113,944</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;"><span style="-sec-ix-hidden: hidden-fact-2">—</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(15,340<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:2.167pt 0pt 0.833pt 0pt; width:226.34pt;text-align:left;"> <div style="margin-left:10pt; text-indent:-10pt;"> <span style="letter-spacing:0.2pt;">Addition (Subtraction): Change in fair value as of <br/> vesting date of stock awards granted in prior <br/> fiscal years for which applicable vesting conditions <br/> were satisfied during the covered fiscal year </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(27,445<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">17,661</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">21,767</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">9,689</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:3.5pt 0pt 0.833pt 0pt; width:226.34pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:0.2pt;">Compensation Actually Paid </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,881,343</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">2,232,401</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,590,865</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,556,528</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> </table>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; line-height:12pt; margin-top:2.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">(4)</span>
<br/>
</div>
<div style=" margin-top:2.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;"> <span style="letter-spacing:0.2pt;">TSR represents the value, as of the end of the applicable fiscal year, of a hypothetical $100 investment in the Company’s common stock made at the beginning of the earliest fiscal year presented (April 1, 2024, at a closing price of $7.93 per share), assuming reinvestment of dividends. No dividends were paid during the periods presented. The closing price of our common stock on March 31, 2025 was $7.63 per share and on March 31, 2026 was $9.79 per share. As an SRC, we are not required to disclose peer group TSR. </span> </div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; line-height:12pt; margin-top:5pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">(5)</span>
<br/>
</div>
<div style=" margin-top:5pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
<span style="letter-spacing:0.2pt;">Net income is reported as presented in the Company’s Consolidated Statements of Income. Net income is a GAAP measure. </span>
</div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
1594984
1881343
1762268
2232401
123.46
7826515
1578649
1590865
1570620
1556528
96.22
7731397
<div style=" float:left; margin-top:9.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"> <span style="letter-spacing:0.2pt;">(1)</span> <br/> </div><div style=" margin-top:9.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;"> <span style="letter-spacing:0.2pt;">Our Principal Executive Officer for both fiscal years presented was Golnar Khosrowshahi, Chief Executive Officer. Our Non-PEO NEOs for both fiscal years were Rell Lafargue, President and Chief Operating Officer, and Jim Heindlmeyer, Chief Financial Officer. </span> </div>
Golnar Khosrowshahi
<div style=" float:left; line-height:12pt; margin-top:5.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"> <span style="letter-spacing:0.2pt;">(3)</span> <br/> </div><div style=" margin-top:5.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
<span style="letter-spacing:0.2pt;">Represents the amount of Compensation Actually Paid (“</span><span style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">CAP</span><span style="letter-spacing:0.2pt;">”) to Ms. Khosrowshahi and the average amount of CAP to our Non-PEO NEOs, respectively, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the reported total compensation for each year to determine the CAP: </span>
</div><table style="width:436pt;height:238pt;margin-left:20pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:226.34pt;text-align:left;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="10" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;"> <div style="white-space:nowrap; text-align:center;"> <span style="letter-spacing:-0.16pt;">2026 </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="10" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;"> <div style="white-space:nowrap; text-align:center;"> <span style="letter-spacing:-0.16pt;">2025 </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;"></td> </tr> <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:226.34pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:-0.16pt;">Adjustments† </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="white-space:nowrap; text-align:center;"> <span style="letter-spacing:-0.16pt;">PEO($) </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Average of <br/> Non-PEO <br/> NEOs($) </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="white-space:nowrap; text-align:center;"> <span style="letter-spacing:-0.16pt;">PEO($) </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Average of <br/> Non-PEO <br/> NEOs($) </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;"></td> </tr> <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:3.25pt 0pt 1.5pt 0pt; width:226.34pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:0.2pt;">SCT Total Amounts </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,594,984</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,762,268</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,578,649</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,570,620</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:2.167pt 0pt 0.833pt 0pt; width:226.34pt;white-space:normal;text-align:left;"> <div style="margin-left:10pt; text-indent:-10pt;"> <span style="letter-spacing:0.2pt;">(Subtraction): Grant date fair value of stock awards reported in SCT </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(920,000<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(992,476<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(920,000<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(813,444<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:2.167pt 0pt 0.833pt 0pt; width:226.34pt;text-align:left;"> <div style="margin-left:10pt; text-indent:-10pt;"> <span style="letter-spacing:0.2pt;">Addition: Fair value at fiscal year-end of outstanding <br/> and unvested stock awards granted in covered <br/> fiscal year </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,233,804</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,331,004</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">910,450</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">805,003</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:2.167pt 0pt 0.833pt 0pt; width:226.34pt;text-align:left;"> <div style="margin-left:10pt; text-indent:-10pt;"> <span style="letter-spacing:0.2pt;">Addition (Subtraction): Change in fair value as of <br/> fiscal year end of stock awards granted in prior <br/> fiscal years for which applicable vesting conditions <br/> were not satisfied during the covered fiscal year </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;"><span style="-sec-ix-hidden: hidden-fact-1">—</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">113,944</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;"><span style="-sec-ix-hidden: hidden-fact-2">—</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(15,340<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:2.167pt 0pt 0.833pt 0pt; width:226.34pt;text-align:left;"> <div style="margin-left:10pt; text-indent:-10pt;"> <span style="letter-spacing:0.2pt;">Addition (Subtraction): Change in fair value as of <br/> vesting date of stock awards granted in prior <br/> fiscal years for which applicable vesting conditions <br/> were satisfied during the covered fiscal year </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(27,445<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">17,661</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">21,767</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">9,689</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:3.5pt 0pt 0.833pt 0pt; width:226.34pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:0.2pt;">Compensation Actually Paid </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,881,343</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">2,232,401</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,590,865</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,556,528</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> </table>
<div style=" float:left; line-height:12pt; margin-top:5.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;"> <span style="letter-spacing:0.2pt;">(3)</span> <br/> </div><div style=" margin-top:5.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
<span style="letter-spacing:0.2pt;">Represents the amount of Compensation Actually Paid (“</span><span style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">CAP</span><span style="letter-spacing:0.2pt;">”) to Ms. Khosrowshahi and the average amount of CAP to our Non-PEO NEOs, respectively, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to our NEOs during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the reported total compensation for each year to determine the CAP: </span>
</div><table style="width:436pt;height:238pt;margin-left:20pt;margin-top:0pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:226.34pt;text-align:left;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="10" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;"> <div style="white-space:nowrap; text-align:center;"> <span style="letter-spacing:-0.16pt;">2026 </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="10" style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;"> <div style="white-space:nowrap; text-align:center;"> <span style="letter-spacing:-0.16pt;">2025 </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;"></td> </tr> <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:8pt;"> <td style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt; width:226.34pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:-0.16pt;">Adjustments† </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="white-space:nowrap; text-align:center;"> <span style="letter-spacing:-0.16pt;">PEO($) </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Average of <br/> Non-PEO <br/> NEOs($) </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="white-space:nowrap; text-align:center;"> <span style="letter-spacing:-0.16pt;">PEO($) </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;"></td> <td colspan="4" style="border-bottom:1px solid #000000;padding:2.583pt 0pt 2.167pt 0pt;"> <div style="text-align:center;"> <span style="letter-spacing:-0.16pt;">Average of <br/> Non-PEO <br/> NEOs($) </span> </div> </td> <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;"></td> </tr> <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:3.25pt 0pt 1.5pt 0pt; width:226.34pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:0.2pt;">SCT Total Amounts </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,594,984</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,762,268</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,578,649</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,570,620</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:2.167pt 0pt 0.833pt 0pt; width:226.34pt;white-space:normal;text-align:left;"> <div style="margin-left:10pt; text-indent:-10pt;"> <span style="letter-spacing:0.2pt;">(Subtraction): Grant date fair value of stock awards reported in SCT </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(920,000<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(992,476<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(920,000<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(813,444<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:2.167pt 0pt 0.833pt 0pt; width:226.34pt;text-align:left;"> <div style="margin-left:10pt; text-indent:-10pt;"> <span style="letter-spacing:0.2pt;">Addition: Fair value at fiscal year-end of outstanding <br/> and unvested stock awards granted in covered <br/> fiscal year </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,233,804</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,331,004</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">910,450</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">805,003</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:2.167pt 0pt 0.833pt 0pt; width:226.34pt;text-align:left;"> <div style="margin-left:10pt; text-indent:-10pt;"> <span style="letter-spacing:0.2pt;">Addition (Subtraction): Change in fair value as of <br/> fiscal year end of stock awards granted in prior <br/> fiscal years for which applicable vesting conditions <br/> were not satisfied during the covered fiscal year </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;"><span style="-sec-ix-hidden: hidden-fact-1">—</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">113,944</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;"><span style="-sec-ix-hidden: hidden-fact-2">—</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(15,340<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:2.167pt 0pt 0.833pt 0pt; width:226.34pt;text-align:left;"> <div style="margin-left:10pt; text-indent:-10pt;"> <span style="letter-spacing:0.2pt;">Addition (Subtraction): Change in fair value as of <br/> vesting date of stock awards granted in prior <br/> fiscal years for which applicable vesting conditions <br/> were satisfied during the covered fiscal year </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">(27,445<span style="position:absolute;">)</span></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">17,661</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">21,767</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">9,689</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;"> <td style="padding:3.5pt 0pt 0.833pt 0pt; width:226.34pt;text-align:left;"> <div style="white-space:nowrap;"> <span style="letter-spacing:0.2pt;">Compensation Actually Paid </span> </div> </td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,881,343</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">2,232,401</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,590,865</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt; width:6pt;"></td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; "></td> <td style="padding:3.5pt 0pt 0.833pt 0pt; min-width:30.75pt; text-align:right; white-space:nowrap;">1,556,528</td> <td style="padding:0pt;padding-left:0pt;width:0pt;"></td> <td style="padding:0pt; width:0pt;"></td> </tr> </table>
1594984
1762268
1578649
1570620
-920000
-992476
-920000
-813444
1233804
1331004
910450
805003
113944
-15340
-27445
17661
21767
9689
1881343
2232401
1590865
1556528
7.93
7.63
9.79
<div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
<span style="letter-spacing:-0.2pt;">CAP vs. TSR</span><span style="font-weight:normal;letter-spacing:0.2pt;"> </span>
</div>
<div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
<span style="letter-spacing:0.2pt;">Over the two fiscal years presented in this Pay Versus Performance section, the Compensation Actually Paid to our Principal Executive Officer, Golnar Khosrowshahi, increased from $1,590,865 in FY2025 to $1,881,343 in FY2026 — an increase of approximately 18.3% year-over-year. </span>
</div>
<div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
<span style="letter-spacing:0.2pt;">This stability in CAP reflects the structure of our PEO compensation program, which consists primarily of a fixed annual RSU grant of $920,000, vesting at the end of each applicable fiscal year, plus base salary and a performance-based cash bonus tied to revenue targets and qualitative measures established by the Board. </span>
</div>
<div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
<span style="letter-spacing:0.2pt;">During this period, the Company</span><span style="font-weight:bold;letter-spacing:-0.2pt;">’</span><span style="letter-spacing:0.2pt;">s cumulative TSR varied significantly year-over-year: </span>
</div>
<div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">•</span>
<br/>
</div>
<div style=" margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
<span style="letter-spacing:0.2pt;">FY2025: (3.78)%, reflecting a slight decline in the price of our common stock from $7.93 per share (April 1, 2024) to $7.63 per share (March 31, 2025). </span>
</div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.99pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">•</span>
<br/>
</div>
<div style=" margin-top:6.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
<span style="letter-spacing:0.2pt;">FY2026: 28.31%, reflecting growth in the price of our common stock from $7.63 per share (April 1, 2025) to $9.79 per share (March 31, 2026) </span>
</div><div style="text-indent:20pt; width:456pt; line-height:12pt;">
<span style="letter-spacing:0.2pt;">The total compensation to our NEOs as shown in the Summary Compensation Table remained largely unchanged year-over-year, but for our CEO, CAP increased by 18.3% which reflects 28.31% growth in our stock price over the last fiscal year. </span>
</div>
<div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
<span style="letter-spacing:-0.2pt;">CAP vs. Net Income</span><span style="font-weight:normal;letter-spacing:0.2pt;"> </span>
</div>
<div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">•</span>
<br/>
</div>
<div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
<span style="letter-spacing:0.2pt;">The Company’s net income increased from $7.7 million in FY2025 to $7.8 million in FY2026 — an increase of approximately 1.2% — was largely due to an increase in operating income. </span>
</div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">•</span>
<br/>
</div>
<div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
<span style="letter-spacing:0.2pt;">The PEO’s cash bonus target is 50% of base salary, contingent upon revenue and qualitative measures established by the Board; the Non-PEO NEO cash bonuses are contingent upon revenue and qualitative measures established by the Board. Compensation Actually Paid to the PEO increased by 18.3%, while net income increased by only 1.2%. The ratio of PEO CAP to net income increased from 20.6% in FY2025 to 24.0% in FY2026. </span>
</div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">•</span>
<br/>
</div>
<div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
<span style="letter-spacing:0.2pt;">Average Non-PEO NEO compensation increased by 43.4%, significantly outpacing the 1.2% growth in net income. The ratio of Average Non-PEO NEO CAP to Net Income increased from 20.1% to 28.5%. </span>
</div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">•</span>
<br/>
</div>
<div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
<span style="letter-spacing:0.2pt;">Neither the PEO’s nor the Non-PEO NEOs’ compensation includes a direct formulaic link to net income as a performance metric. </span>
</div>
<div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;"></div>
<div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.3pt; margin-bottom:0pt; text-align:left; width:10pt;white-space:nowrap;">
<span style="letter-spacing:0.2pt;">•</span>
<br/>
</div>
<div style=" margin-top:6.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:30pt;">
<span style="letter-spacing:0.2pt;">The Company’s net income remained flat while CAP increased, as equity compensation is a primary component of our compensation structure. </span>
</div>
DEF 14A
0001824403
false