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SNOA:ChangeInFairValueAsOfVestingDateComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearForWhichAllVestingConditionsWereSatisfiedAtFiscalYearEndOrDuringTheFiscalYearMember ecd:NonPeoNeoMember 2024-04-01 2025-03-31 0001367083 SNOA:ChangeInFairValueAsOfVestingDateComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearForWhichAllVestingConditionsWereSatisfiedAtFiscalYearEndOrDuringTheFiscalYearMember ecd:NonPeoNeoMember 2023-04-01 2024-03-31 0001367083 ecd:NonPeoNeoMember 2025-04-01 2026-03-31 0001367083 ecd:NonPeoNeoMember 2024-04-01 2025-03-31 0001367083 ecd:NonPeoNeoMember 2023-04-01 2024-03-31 iso4217:USD false 0001367083 DEF 14A SONOMA PHARMACEUTICALS, INC. true <table cellpadding="0" cellspacing="0" id="xdx_88D_eecd--PvpTableTextBlock_zNsi0oOXjup9" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr> <td style="border-right: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; text-align: center"> </td> <td style="border-right: #A6A6A6 1pt solid; text-align: center"> </td> <td style="border-right: #A6A6A6 1pt solid; text-align: center"> </td> <td style="border-right: #A6A6A6 1pt solid; text-align: center"> </td> <td style="border-right: #A5A5A5 1pt solid; text-align: center"> </td> <td style="border-right: #A6A6A6 1pt solid; text-align: center"> </td> <td style="border-right: #A6A6A6 1pt solid; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: #00B0F0"> <td style="border: #A6A6A6 1pt solid; width: 10%; text-align: center">Year</td> <td style="border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; width: 15%; text-align: center">Summary Compensation Table Total for PEO($)(1)(2)</td> <td style="border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; width: 15%; text-align: center">Compensation Actually Paid to PEO ($)(1)(2)</td> <td style="border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; width: 15%; text-align: center">Average Summary Compensation Table Total for Non-PEO Named Executive Officers ($)(1)(3)</td> <td style="border-top: #A6A6A6 1pt solid; border-right: #A5A5A5 1pt solid; border-bottom: #A6A6A6 1pt solid; width: 15%; text-align: center">Average Compensation Actually Paid to Non-PEO Named Executive Officers ($)(1)(4) </td> <td style="border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; width: 15%; text-align: center">Value of Initial Fixed $100 Investment Based on Total Shareholder Return ($)(5)</td> <td style="border-top: #A6A6A6 1pt solid; border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center; width: 15%">Net Loss (in thousands) ($)(6)</td></tr> <tr> <td style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; text-align: center">2026</td> <td id="xdx_986_eecd--PeoTotalCompAmt_c20250401__20260331_zRJkJ8RhBYdk" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Summary Compensation Total for PEO">741,116</td> <td id="xdx_987_eecd--PeoActuallyPaidCompAmt_c20250401__20260331_zUIPaH0dPsl8" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Compensation Actually Paid to CEO">641,728</td> <td id="xdx_98C_eecd--NonPeoNeoAvgTotalCompAmt_c20250401__20260331_zLXzEQNW735i" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Average Compensation Table total for Non-CEO NEOs">411,157</td> <td id="xdx_981_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20250401__20260331_zXwEI3BZbnu6" style="border-right: #A5A5A5 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Average Compensation Actually paid to Non-CEO NEOs">324,913</td> <td id="xdx_987_eecd--TotalShareholderRtnAmt_pp2p0_c20250401__20260331_zMNP5B12wPka" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Total Shareholder Return Amount">$10.91</td> <td id="xdx_98A_eus-gaap--NetIncomeLoss_c20250401__20260331_z6if94OpN4a2" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Net Income (Loss)">3,175</td></tr> <tr style="background-color: #DAE9F7"> <td style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; text-align: center">2025</td> <td id="xdx_98B_eecd--PeoTotalCompAmt_c20240401__20250331_zTeijzZJbdI5" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Summary Compensation Table Total for CEO">597,075</td> <td id="xdx_988_eecd--PeoActuallyPaidCompAmt_c20240401__20250331_zOG8iSJwhWa" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Compensation Actually Paid to CEO">553,871</td> <td id="xdx_980_eecd--NonPeoNeoAvgTotalCompAmt_c20240401__20250331_z7MISdz7mNMf" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Average Compensation Table total for Non-CEO NEOs">444,948</td> <td id="xdx_988_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20240401__20250331_zlQCT5DgVZb2" style="border-right: #A5A5A5 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Average Compensation Actually paid to Non-CEO NEOs">406,176</td> <td id="xdx_985_eecd--TotalShareholderRtnAmt_pp2p0_c20240401__20250331_zTr9WWZjfit2" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Total Shareholder Return Amount">$11.22</td> <td id="xdx_98C_eus-gaap--NetIncomeLoss_c20240401__20250331_ztijps2EGLJ1" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Net Income (Loss)">3,457</td></tr> <tr> <td style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; border-left: #A6A6A6 1pt solid; text-align: center">2024</td> <td id="xdx_984_eecd--PeoTotalCompAmt_c20230401__20240331_zBBbsNBL5KMc" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Summary Compensation Table Total for CEO">726,543</td> <td id="xdx_98E_eecd--PeoActuallyPaidCompAmt_c20230401__20240331_zlUxmw8VT8pl" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Compensation Actually Paid to CEO">697,361</td> <td id="xdx_982_eecd--NonPeoNeoAvgTotalCompAmt_c20230401__20240331_zntjHuOUPG1c" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Average Compensation Table total for Non-CEO NEOs">483,063</td> <td id="xdx_98D_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20230401__20240331_z1pzfWwsjmY" style="border-right: #A5A5A5 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Average Compensation Actually paid to Non-CEO NEOs">468,238</td> <td id="xdx_986_eecd--TotalShareholderRtnAmt_pp2p0_c20230401__20240331_ziF649BJnR0b" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Total Shareholder Return Amount">$17.03</td> <td id="xdx_982_eus-gaap--NetIncomeLoss_c20230401__20240331_zYbAZjwOPfHh" style="border-right: #A6A6A6 1pt solid; border-bottom: #A6A6A6 1pt solid; text-align: center" title="Net Income (Loss)">4,835</td></tr> </table> 741116 641728 411157 324913 10.91

3175

597075 553871 444948 406176 11.22

3457

726543 697361 483063 468238 17.03

4835

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%">(1)</td> <td style="width: 95%; text-align: justify">During fiscal years 2026, 2025 and 2024 the principal executive officer, or PEO, was Amy Trombly, and our non-PEO NEOs were Mr. Dvonch and Mr. Thornton. Mr. Thorton, our former Executive Vice President and Chief Operating Officer, was terminated on October 18, 2025.</td></tr> </table> Amy Trombly Amy Trombly Amy Trombly <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%">(2)</td> <td style="width: 95%; text-align: justify">The dollar amounts reported are the amounts of total compensation reported for Ms. Trombly and the average total compensation reported for Non-PEO Named Executive Officers for the applicable fiscal year in the “Total” column of the Summary Compensation Table (SCT).</td></tr> <tr style="vertical-align: top"> <td>(3)</td> <td style="text-align: justify">The following table sets forth the adjustments made to the SCT total for each year represented in the pay versus performance table to arrive at “compensation actually paid” to our PEO, as computed in accordance with Item 402(v) of Regulation S-K: </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">2026</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">2025</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">2024</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #DEEAF6"> <td style="width: 58%; text-align: justify">SCT Total for PEO</td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td id="xdx_985_eecd--PeoTotalCompAmt_c20250401__20260331_zEPcwI4f3P57" style="width: 11%; text-align: right" title="SCT Total for PEO">741,116</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td id="xdx_98F_eecd--PeoTotalCompAmt_c20240401__20250331_zt099xtiYYM7" style="width: 11%; text-align: right" title="SCT Total for PEO">597,075</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%">$</td> <td id="xdx_981_eecd--PeoTotalCompAmt_c20230401__20240331_z2E8Y6g4u1Ef" style="width: 11%; text-align: right" title="SCT Total for PEO">726,543</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Less: Amount reported under the “Stock Awards” and “Option Awards” columns in the SCT</td> <td> </td> <td>$</td> <td id="xdx_98A_eecd--AdjToCompAmt_iN_di_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--AmountReportedUnderTheStockAwardsAndOptionAwardsColumnsInTheSCTMember_zBSJIQE5tIpj" style="text-align: right" title="Adjustment to Compensation Amount">74,875</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_98E_eecd--AdjToCompAmt_iN_di_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--AmountReportedUnderTheStockAwardsAndOptionAwardsColumnsInTheSCTMember_zU3TyRCuAWz2" style="text-align: right" title="Adjustment to Compensation Amount">37,732</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_983_eecd--AdjToCompAmt_iN_di_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--AmountReportedUnderTheStockAwardsAndOptionAwardsColumnsInTheSCTMember_zYIZtz0FOip1" style="text-align: right" title="Adjustment to Compensation Amount">117,725</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #DEEAF6"> <td>Add: Fair value as of fiscal year-end of awards granted during the fiscal year that are outstanding and unvested as of the end of the fiscal year</td> <td> </td> <td>$</td> <td id="xdx_98D_eecd--AdjToCompAmt_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueAsOfFiscalYearEndOfAwardsGrantedDuringTheFiscalYearThatAreOutstandingAndUnvestedAsOfTheEndOfTheFiscalYearMember_zpH8tKb5M3k2" style="text-align: right" title="Adjustment to Compensation Amount">(24,820</td> <td>)</td> <td> </td> <td>$</td> <td id="xdx_98A_eecd--AdjToCompAmt_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueAsOfFiscalYearEndOfAwardsGrantedDuringTheFiscalYearThatAreOutstandingAndUnvestedAsOfTheEndOfTheFiscalYearMember_zjkrMF5d4OU9" style="text-align: right" title="Adjustment to Compensation Amount">(4,900</td> <td>) </td> <td> </td> <td>$</td> <td id="xdx_98C_eecd--AdjToCompAmt_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueAsOfFiscalYearEndOfAwardsGrantedDuringTheFiscalYearThatAreOutstandingAndUnvestedAsOfTheEndOfTheFiscalYearMember_zaD7SDmqSejl" style="text-align: right" title="Adjustment to Compensation Amount">8,202</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Add: Change in fair value as of fiscal year-end, compared to prior fiscal year-end, of awards granted in any prior fiscal year that are outstanding and unvested as of the end of the fiscal year</td> <td> </td> <td>$</td> <td id="xdx_98C_eecd--AdjToCompAmt_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ChangeInFairValueAsOfFiscalYearEndComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearThatAreOutstandingAndUnvestedAsOfTheEndOfTheFiscalYearMember_zq6G5OrnDQdl" style="text-align: right" title="Adjustment to Compensation Amount">(898</td> <td>)</td> <td> </td> <td>$</td> <td id="xdx_98C_eecd--AdjToCompAmt_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ChangeInFairValueAsOfFiscalYearEndComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearThatAreOutstandingAndUnvestedAsOfTheEndOfTheFiscalYearMember_za2yE52zinh7" style="text-align: right" title="Adjustment to Compensation Amount">(12,416</td> <td>)</td> <td> </td> <td>$</td> <td id="xdx_988_eecd--AdjToCompAmt_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ChangeInFairValueAsOfFiscalYearEndComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearThatAreOutstandingAndUnvestedAsOfTheEndOfTheFiscalYearMember_z8FCauJoGUIh" style="text-align: right" title="Adjustment to Compensation Amount">(26,706</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #DEEAF6"> <td>Add: Fair value as of vest date of awards granted and vested in the fiscal year</td> <td> </td> <td>$</td> <td id="xdx_986_eecd--AdjToCompAmt_d0_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueAsOfVestDateOfAwardsGrantedAndVestedInTheFiscalYearMember_zk8AfwxrACA7" style="text-align: right" title="Adjustment to Compensation Amount">–</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_98A_eecd--AdjToCompAmt_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueAsOfVestDateOfAwardsGrantedAndVestedInTheFiscalYearMember_zWc1QEmweNp8" style="text-align: right" title="Adjustment to Compensation Amount">10,932</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_98E_eecd--AdjToCompAmt_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--FairValueAsOfVestDateOfAwardsGrantedAndVestedInTheFiscalYearMember_z7jJXmVZ3yTf" style="text-align: right" title="Adjustment to Compensation Amount">109,053</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td>Add: Change in fair value as of vesting date, compared to prior fiscal year-end, of awards granted in any prior fiscal year for which all vesting conditions were satisfied at fiscal year-end or during the fiscal year</td> <td> </td> <td>$</td> <td id="xdx_98A_eecd--AdjToCompAmt_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ChangeInFairValueAsOfVestingDateComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearForWhichAllVestingConditionsWereSatisfiedAtFiscalYearEndOrDuringTheFiscalYearMember_zH82UKOiWYP5" style="text-align: right" title="Adjustment to Compensation Amount">1,205</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_98C_eecd--AdjToCompAmt_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ChangeInFairValueAsOfVestingDateComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearForWhichAllVestingConditionsWereSatisfiedAtFiscalYearEndOrDuringTheFiscalYearMember_zVAirjp2zcDi" style="text-align: right" title="Adjustment to Compensation Amount">912</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_981_eecd--AdjToCompAmt_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ChangeInFairValueAsOfVestingDateComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearForWhichAllVestingConditionsWereSatisfiedAtFiscalYearEndOrDuringTheFiscalYearMember_z9qLRIxfDHfa" style="text-align: right" title="Adjustment to Compensation Amount">(2,006</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #DEEAF6"> <td>Less: Forfeitures during fiscal year equal to prior fiscal year-end value</td> <td> </td> <td>$</td> <td id="xdx_98D_eecd--AdjToCompAmt_iN_di0_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ForfeituresDuringFiscalYearEqualToPriorFiscalYearEndValueMember_zJRUXB1JNnLf" style="text-align: right" title="Adjustment to Compensation Amount">–</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_988_eecd--AdjToCompAmt_iN_di0_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ForfeituresDuringFiscalYearEqualToPriorFiscalYearEndValueMember_zwupn6JPvf5a" style="text-align: right" title="Adjustment to Compensation Amount">–</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_98B_eecd--AdjToCompAmt_iN_di0_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ForfeituresDuringFiscalYearEqualToPriorFiscalYearEndValueMember_zZnMgwOvfaSl" style="text-align: right" title="Adjustment to Compensation Amount">–</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify">Total Adjustments</td> <td> </td> <td>$</td> <td id="xdx_98B_eecd--AdjToCompAmt_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zXVwnoQa6qLf" style="text-align: right" title="Adjustment to Compensation Amount">(99,388</td> <td>)</td> <td> </td> <td>$</td> <td id="xdx_98F_eecd--AdjToCompAmt_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--PeoMember_z0xfXjF5FNI" style="text-align: right" title="Adjustment to Compensation Amount">(43,204</td> <td>)</td> <td> </td> <td>$</td> <td id="xdx_98F_eecd--AdjToCompAmt_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--PeoMember_ziUcEUWCQmke" style="text-align: right" title="Adjustment to Compensation Amount">(29,182</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #DEEAF6"> <td style="text-align: justify">Compensation Actually Paid to PEO</td> <td> </td> <td>$</td> <td id="xdx_985_eecd--PeoActuallyPaidCompAmt_c20250401__20260331_zgcDTa74hOfk" style="text-align: right" title="Compensation Actually Paid to PEO">641,728</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_984_eecd--PeoActuallyPaidCompAmt_c20240401__20250331_zeIt55DPV5mf" style="text-align: right" title="Compensation Actually Paid to PEO">553,871</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_981_eecd--PeoActuallyPaidCompAmt_c20230401__20240331_zX2IZ6LG0SJd" style="text-align: right" title="Compensation Actually Paid to PEO">697,361</td> <td> </td></tr> </table> 741116 597075 726543 -74875 -37732 -117725 -24820 -4900 8202 -898 -12416 -26706 0 10932 109053 1205 912 -2006 -0 -0 -0 -99388 -43204 -29182 641728 553871 697361 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%">(4)</td> <td style="width: 95%; text-align: justify">The following table sets forth the adjustments made to the SCT total for each year represented in the pay versus performance table to arrive at “compensation actually paid” to our non-PEO NEOs, as computed in accordance with Item 402(v) of Regulation S-K: </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">2026</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">2025</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">2024</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #DEEAF6"> <td style="width: 55%; text-align: justify">Average SCT Total for Non-PEO NEOs</td> <td style="width: 2%"> </td> <td style="width: 1%">$</td> <td id="xdx_98D_eecd--NonPeoNeoAvgTotalCompAmt_c20250401__20260331_zm8TlhMiIJDk" style="width: 11%; text-align: right" title="Average SCT Total for Non-PEO NEOs">411,157</td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="width: 1%">$</td> <td id="xdx_98D_eecd--NonPeoNeoAvgTotalCompAmt_c20240401__20250331_zKHwjMym1Rv1" style="width: 11%; text-align: right" title="Average SCT Total for Non-PEO NEOs">444,948</td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="width: 1%">$</td> <td id="xdx_982_eecd--NonPeoNeoAvgTotalCompAmt_c20230401__20240331_zFIBlwFR62Za" style="width: 11%; text-align: right" title="Average SCT Total for Non-PEO NEOs">483,063</td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify">Less: Amount reported under the “Stock Awards” and “Option Awards” columns in the SCT</td> <td> </td> <td>$</td> <td id="xdx_982_eecd--AdjToCompAmt_iN_di_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AmountReportedUnderTheStockAwardsAndOptionAwardsColumnsInTheSCTMember_zYhxhn62ujm" style="text-align: right" title="Adjustment to Compensation Amount">47,575</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_984_eecd--AdjToCompAmt_iN_di_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AmountReportedUnderTheStockAwardsAndOptionAwardsColumnsInTheSCTMember_zMsPFoBjs8Og" style="text-align: right" title="Adjustment to Compensation Amount">37,732</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_983_eecd--AdjToCompAmt_iN_di_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AmountReportedUnderTheStockAwardsAndOptionAwardsColumnsInTheSCTMember_zyHSPdKtYkUi" style="text-align: right" title="Adjustment to Compensation Amount">78,199</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #DEEAF6"> <td style="text-align: justify">Add: Fair value as of fiscal year-end of awards granted during the fiscal year that are outstanding and unvested as of the end of the fiscal year</td> <td> </td> <td>$</td> <td id="xdx_98C_eecd--AdjToCompAmt_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueAsOfFiscalYearEndOfAwardsGrantedDuringTheFiscalYearThatAreOutstandingAndUnvestedAsOfTheEndOfTheFiscalYearMember_z7eL5etKUeJe" style="text-align: right" title="Adjustment to Compensation Amount">(8,635</td> <td>)</td> <td> </td> <td>$</td> <td id="xdx_98A_eecd--AdjToCompAmt_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueAsOfFiscalYearEndOfAwardsGrantedDuringTheFiscalYearThatAreOutstandingAndUnvestedAsOfTheEndOfTheFiscalYearMember_zdub6nNcAGxb" style="text-align: right" title="Adjustment to Compensation Amount">(4,900</td> <td>) </td> <td> </td> <td>$</td> <td id="xdx_98E_eecd--AdjToCompAmt_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueAsOfFiscalYearEndOfAwardsGrantedDuringTheFiscalYearThatAreOutstandingAndUnvestedAsOfTheEndOfTheFiscalYearMember_zyqES4ErmUP" style="text-align: right" title="Adjustment to Compensation Amount">8,202</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify">Add: Fair value as of vest date of awards granted and vested in the fiscal year</td> <td> </td> <td>$</td> <td id="xdx_981_eecd--AdjToCompAmt_d0_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueAsOfVestDateOfAwardsGrantedAndVestedInTheFiscalYearMember_zo5bxrmITZp8" style="text-align: right" title="Adjustment to Compensation Amount">–</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_982_eecd--AdjToCompAmt_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueAsOfVestDateOfAwardsGrantedAndVestedInTheFiscalYearMember_zcvxDyoYB3uk" style="text-align: right" title="Adjustment to Compensation Amount">10,932</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_985_eecd--AdjToCompAmt_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--FairValueAsOfVestDateOfAwardsGrantedAndVestedInTheFiscalYearMember_zMz4QkkGRv6d" style="text-align: right" title="Adjustment to Compensation Amount">69,527</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #DEEAF6"> <td style="text-align: justify">Add: Change in fair value as of fiscal year-end, compared to prior fiscal year-end, of awards granted in any prior fiscal year that are outstanding and unvested as of the end of the fiscal year</td> <td> </td> <td>$</td> <td id="xdx_98B_eecd--AdjToCompAmt_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ChangeInFairValueAsOfFiscalYearEndComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearThatAreOutstandingAndUnvestedAsOfTheEndOfTheFiscalYearMember_zxXJ1MApZas8" style="text-align: right" title="Adjustment to Compensation Amount">(449</td> <td>)</td> <td> </td> <td>$</td> <td id="xdx_981_eecd--AdjToCompAmt_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ChangeInFairValueAsOfFiscalYearEndComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearThatAreOutstandingAndUnvestedAsOfTheEndOfTheFiscalYearMember_zKEcBknGu4Ic" style="text-align: right" title="Adjustment to Compensation Amount">(7,074</td> <td>)</td> <td> </td> <td>$</td> <td id="xdx_986_eecd--AdjToCompAmt_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ChangeInFairValueAsOfFiscalYearEndComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearThatAreOutstandingAndUnvestedAsOfTheEndOfTheFiscalYearMember_z5e6FUn09mD3" style="text-align: right" title="Adjustment to Compensation Amount">(13,352</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify">Less: Forfeitures during fiscal year equal to prior fiscal year-end value</td> <td> </td> <td>$</td> <td id="xdx_980_eecd--AdjToCompAmt_iN_di_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ForfeituresDuringFiscalYearEqualToPriorFiscalYearEndValueMember_zElAoqAS1uu9" style="text-align: right" title="Adjustment to Compensation Amount">30,188</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_988_eecd--AdjToCompAmt_iN_di0_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ForfeituresDuringFiscalYearEqualToPriorFiscalYearEndValueMember_z3MD2HAe5sfe" style="text-align: right" title="Adjustment to Compensation Amount">–</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_984_eecd--AdjToCompAmt_iN_di0_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ForfeituresDuringFiscalYearEqualToPriorFiscalYearEndValueMember_zndBttUBn4Q9" style="text-align: right" title="Adjustment to Compensation Amount">–</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #DEEAF6"> <td style="text-align: justify">Add: Change in fair value as of vesting date, compared to prior fiscal year-end, of awards granted in any prior fiscal year for which all vesting conditions were satisfied at fiscal year-end or during the fiscal year</td> <td> </td> <td>$</td> <td id="xdx_988_eecd--AdjToCompAmt_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ChangeInFairValueAsOfVestingDateComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearForWhichAllVestingConditionsWereSatisfiedAtFiscalYearEndOrDuringTheFiscalYearMember_z8nrKU3v2AG5" style="text-align: right" title="Adjustment to Compensation Amount">603</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_988_eecd--AdjToCompAmt_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ChangeInFairValueAsOfVestingDateComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearForWhichAllVestingConditionsWereSatisfiedAtFiscalYearEndOrDuringTheFiscalYearMember_zqft5XNGQWtf" style="text-align: right" title="Adjustment to Compensation Amount">3</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_986_eecd--AdjToCompAmt_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ChangeInFairValueAsOfVestingDateComparedToPriorFiscalYearEndOfAwardsGrantedInAnyPriorFiscalYearForWhichAllVestingConditionsWereSatisfiedAtFiscalYearEndOrDuringTheFiscalYearMember_zlKaq3wTHjEe" style="text-align: right" title="Adjustment to Compensation Amount">(1,003</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify">Total Adjustments</td> <td> </td> <td>$</td> <td id="xdx_985_eecd--AdjToCompAmt_c20250401__20260331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zjoWfre2sOei" style="text-align: right" title="Adjustment to Compensation Amount">(86,244</td> <td>)</td> <td> </td> <td>$</td> <td id="xdx_98E_eecd--AdjToCompAmt_c20240401__20250331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zGrg6fZ4JOEb" style="text-align: right" title="Adjustment to Compensation Amount">(38,772</td> <td>)</td> <td> </td> <td>$</td> <td id="xdx_983_eecd--AdjToCompAmt_c20230401__20240331__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_z44UGgcjHaS8" style="text-align: right" title="Adjustment to Compensation Amount">(14,825</td> <td>)</td></tr> <tr style="vertical-align: bottom; background-color: #DEEAF6"> <td style="text-align: justify">Average Compensation Actually Paid to Non-PEO NEOs*</td> <td> </td> <td>$</td> <td id="xdx_985_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20250401__20260331_z6kKsx7Hpm57" style="text-align: right" title="Average Compensation Actually Paid to Non-PEO NEOs">324,913</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_981_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20240401__20250331_z0Sh5gMBGAS8" style="text-align: right" title="Average Compensation Actually Paid to Non-PEO NEOs">406,176</td> <td> </td> <td> </td> <td>$</td> <td id="xdx_983_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20230401__20240331_z0F76CFl25Kj" style="text-align: right" title="Average Compensation Actually Paid to Non-PEO NEOs">468,238</td> <td> </td></tr> </table> 411157 444948 483063 -47575 -37732 -78199 -8635 -4900 8202 0 10932 69527 -449 -7074 -13352 -30188 -0 -0 603 3 -1003 -86244 -38772 -14825 324913 406176 468238 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%">(5)</td> <td style="width: 95%; text-align: justify">The amounts reported represent the measurement period value of an investment of $100 in our stock on March 31, 2023 (the last trading day before the 2023 fiscal year), and then valued again on each of March 31, 2024 (the last trading day of the 2024 fiscal year), March 28, 2025 (the last trading day of the 2025 fiscal year), and March 31, 2026 (the last trading day of the 2026 fiscal year) based on the closing price per share of the Company’s common stock as of such dates and assuming the reinvestment of dividends.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 5%">(6)</td> <td style="width: 95%; text-align: justify">The amounts reported represent net loss for the applicable fiscal year calculated in accordance with generally accepted accounting principles in the United States.</td></tr> <tr style="vertical-align: top"> <td>(7)</td> <td style="text-align: justify">Net Loss: The dollar amounts reported represent the amount of net loss reflected in the Company’s audited financial statements for the applicable year.</td></tr> </table> * The valuation assumptions for stock option awards included in Compensation Actually Paid are: (i) the expected life of each stock option, which is determined using the “simplified method” and which takes into account the average of the remaining vesting period and remaining term as of the vest or fiscal year end date; (ii) the exercise price and the asset price, which are based on the closing price of our Common Stock traded on the Nasdaq on the vest and fiscal year end date, respectively; (iii) the risk-free rate, which is based on the Treasury Constant Maturity rate closest to the remaining expected life as of the vest or fiscal year end date; (iv) historical volatility, which is based on the daily price history for our Common stock for each expected life period prior to each vest or fiscal year end date; and (v) the annual dividend yield, which was zero. <p id="xdx_849_eecd--CompActuallyPaidVsTotalShareholderRtnTextBlock_dU_zgFbcIzcGyv3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3pt 0pt 0.5pt; text-align: justify; text-indent: -0.5pt">Relationship Between Compensation Actually Paid Amounts and Performance Measures The charts below show, for the past three years, the relationship of the PEO and the other non-PEO NEOs compensation “actually paid” and (i) the Company’s Total Shareholder Return (TSR) and (ii) the Company’s net loss. While the Compensation Committee makes executive compensation decisions in consideration of a variety of factors, including corporate and individual performance, the decisions of the Compensation Committee and Board of Directors in 2026, 2025 and 2024 were made independently of these disclosure requirements. <img alt="" src="image_027.jpg" style="height: 305px; width: 481px"/> <img alt="" src="image_034.jpg"/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.5pt"></td><td style="text-align: center; padding-right: 0.3pt"></td></tr></table> Timing of Equity Awards While we have no set policy or practice regarding the timing of stock option awards or similar instruments in relation to the disclosure of material nonpublic information, we do not time the release of material information to affect the value of stock options. In general, the timing of stock option awards is dictated by the event or circumstance giving rise to the award and the schedules of the directors responsible for approving the award. In fiscal year 2026, options were not issued to our named executive officers during the period beginning four business days before and ending one business day after the filing of a Form 10-Q, Form 10-K or Form 8-K that discloses material nonpublic information. If, in the future, a stock option grant is made at a time that material nonpublic information exists, the directors approving the award would be responsible for considering the anticipated effect of that information on our stock price and would take such effect into account when sizing and pricing the award. While we have no set policy or practice regarding the timing of stock option awards or similar instruments in relation to the disclosure of material nonpublic information we do not time the release of material information to affect the value of stock options. false false