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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;"><i>Incentive Plan</i></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">Our board of directors adopted the Incentive Plan, which was approved by our shareholders at our 2017 annual shareholder meeting. The purpose of the Incentive Plan is to:</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Encourage ownership in us by key personnel whose long-term employment with or engagement by us or our subsidiaries (including FutureFuel Chemical Company) is considered essential to our continued progress and, thereby, encourage recipients to act in our shareholders’ interests and share in our success;</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Encourage such persons to remain in our employ or in the employ of our subsidiaries; and</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Provide incentives to persons who are not our employees to promote our success.</p>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">The Incentive Plan authorizes us to issue stock options (including incentive stock options and non-qualified stock options), stock awards, and stock appreciation rights. As of December 31, 2025, we have issued or awarded 94,000 options to purchase shares of our common stock, 760,079 restricted stock units (“RSUs”) and 101,514 shares of restricted stock, in each case under the Incentive Plan. The Employment Agreement for Mr. Polet provided for the issuance of the 750,000 RSUs to him, vesting in five equal installments on each anniversary of the award date and subject to the other terms and conditions of the Incentive Plan and an award agreement entered into by the Company and Mr. Polet. See Note 17 to our consolidated financial statements in the 2025 Annual Report for a detailed discussion of 2025 stock-based compensation awards. Historically, the Company has not regularly issued equity awards under the Incentive Plan and therefore has not had a determined schedule for award issuance. However, the Compensation Committee did not take material nonpublic information into account when determining the timing and terms of equity awards in 2025, and the Company does not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">Eligible participants in the Incentive Plan include (i) members of our board of directors and our executive officers; (ii) regular, active employees of us or of any of our subsidiaries; and (iii) persons engaged by us or by any of our subsidiaries to render services to us or our subsidiaries as an advisor or consultant.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">Awards under the Incentive Plan are limited to shares of our common stock, which may be shares reacquired by us, including shares purchased in the open market, or authorized but unissued shares. Awards are limited to 10% of the issued and outstanding shares of our common stock in the aggregate, or 4,310,167 shares, as of the date of the adoption of the Incentive Plan. Taking into account the prior grants of stock options and stock awards under the Incentive Plan, 4,386,351 shares are available to be issued under the Incentive Plan as of December 31, 2025.</p>
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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">The Incentive Plan is administered by: (i) our board, (ii) a committee of our board appointed for that purpose; or (iii) if no such committee is appointed, our board’s Compensation Committee (in any case, the “Administrator”). The Administrator may appoint agents to assist it in administering the Incentive Plan. The Administrator may delegate to one or more individuals the day-to-day administration of the Incentive Plan and any of the functions assigned to the Administrator in the Incentive Plan. Such delegation may be revoked at any time. All decisions, determinations, and interpretations by the Administrator regarding the Incentive Plan and the terms and conditions of any award granted thereunder will be final and binding on all participants.</p>
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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">The Incentive Plan became effective upon its approval by our shareholders and will continue in effect for a term of ten years thereafter unless amended and extended by us or unless earlier terminated. The individuals and number of persons who may be selected to participate in the plan in the future is at the discretion of the Administrator and, therefore, are not determinable at this time. Likewise, the number of stock options, stock awards and stock appreciation rights that will be granted to eligible participants pursuant to the plan are not determinable at this time.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">The Administrator may grant a stock option or provide for the grant of a stock option either from time to time in the discretion of the Administrator or automatically upon the occurrence of events specified by the Administrator, including the achievement of performance goals or the satisfaction of an event or condition within the control of the participant or within the control of others. Each option agreement must contain provisions regarding (i) the number of shares of common stock that may be issued upon exercise of the option; (ii) the type of option; (iii) the exercise price of the shares and the means of payment for the shares; (iv) the term of the option; (v) such terms and conditions on the vesting or exercisability of the option as may be determined from time to time by the Administrator; (vi) restrictions on the transfer of the option and forfeiture provisions; and (vii) such further terms and conditions not inconsistent with the plan as may be determined from time to time by the Administrator. Unless otherwise specifically determined by the Administrator or otherwise set forth in the Incentive Plan, the vesting of an option will occur only while the participant is employed or rendering services to us or one of our subsidiaries, and all vesting will cease upon a participant’s termination of employment for any reason.</p>
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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">The Administrator may grant annual performance vested options. Performance will be tied to annual cash flow targets (our consolidated income plus depreciation plus amortization) in amounts to be determined. Annual performance vested options will vest 25% for each year that the annual cash flow target is achieved (with provisions for subsequent year catch-ups). Neither our management nor our Compensation Committee, however, has through the year ended December 31, 2025 made any awards that were contingent upon the achievement of specified performance goals or that were otherwise performance-vested. Rather, through 2025, all grants were made in the discretion of our Compensation Committee based upon their authority under the Incentive Plan.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">The Administrator may grant cumulative performance vested options. Performance will be tied to cumulative cash flow in amounts to be determined for periods to be determined.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">The Administrator may issue other options based upon the following performance criteria either individually, alternatively, or in any combination, applied to either us as a whole or to a business unit, subsidiary, or business segment, either individually, alternatively, or in any combination, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, in each case as specified by the Administrator: (i) cash flow; (ii) earnings (including gross margin, earnings before interest and taxes, earnings before taxes, and net earnings) ; (iii) earnings per share; (iv) growth in earnings or earnings per share; (v) stock price; (vi) return on equity or average shareholders’ equity; (vii) total shareholder return; (viii) return on capital; (ix) return on assets or net assets; (x) return on investment; (xi) revenue; (xii) income or net income; (xiii) operating income or net operating income; (xiv) operating profit or net operating profit; (xv) operating margin; (xvi) return on operating revenue; (xvii) market share; (xviii) overhead or other expense reduction; (xix) growth in shareholder value relative to the moving average of the S&P 500 Index or a peer group index; (xx) strategic plan development and implementation; and (xxi) any other similar criteria.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">Such options will vest and expire (including on a pro rata basis) on such terms as may be determined by the Administrator from time to time consistent with the terms of the Incentive Plan.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">The Administrator may award shares of our common stock to participants. The grant, issuance, retention, or vesting of each stock award may be subject to such performance criteria and level of achievement versus these criteria as the Administrator determines, which criteria may be based on financial performance, personal performance evaluations, or completion of service by the participant. Unless otherwise provided for by the Administrator, upon the participant’s termination of employment other than due to death or retirement, the unvested portions of the stock award and the shares of our common stock subject thereto will generally be forfeited. Unless otherwise provided for by the Administrator, if a participant’s termination of employment is due to death or retirement, all outstanding stock awards will continue to vest provided certain conditions to be determined are met. Unless otherwise provided for by the Administrator, if a participant’s termination of employment is due to his death, a portion of each outstanding stock award granted to such participant will immediately vest and all forfeiture provisions and repurchase rights will lapse as to a prorated number of shares of common stock determined by dividing the number of whole months since the grant date by the number of whole months between the grant date and the date that the stock award would have fully vested.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">The Administrator may grant stock appreciation rights either alone or in conjunction with other awards. The Administrator will determine the number of shares of common stock to be subject to each award of stock appreciation rights. The award of stock appreciation rights will not be exercisable for at least six months after the date of grant except as the Administrator may otherwise determine in the event of death, disability, retirement, or voluntary termination of employment of the participant. Except as otherwise provided by the Administrator, the award of stock appreciation rights will not be exercisable unless the person exercising the award of stock appreciation rights has been at all times during the period beginning with the date of the grant thereof and ending on the date of such exercise, employed by or otherwise performing services for us or one of our subsidiaries.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">In the event there is a change in control of the Company, as determined by our board, our board may, in its discretion: (i) provide for the assumption or substitution of, or adjustment to, each outstanding award; (ii) accelerate the vesting of awards and terminate any restrictions on cash awards or stock awards; and (iii) provide for the cancellation of awards for a cash payment to the participant.</p>
The Incentive Plan authorizes us to issue stock options (including incentive stock options and non-qualified stock options), stock awards, and stock appreciation rights. As of December 31, 2025, we have issued or awarded 94,000 options to purchase shares of our common stock, 760,079 restricted stock units (“RSUs”) and 101,514 shares of restricted stock, in each case under the Incentive Plan. The Employment Agreement for Mr. Polet provided for the issuance of the 750,000 RSUs to him, vesting in five equal installments on each anniversary of the award date and subject to the other terms and conditions of the Incentive Plan and an award agreement entered into by the Company and Mr. Polet. See Note 17 to our consolidated financial statements in the 2025 Annual Report for a detailed discussion of 2025 stock-based compensation awards. Historically, the Company has not regularly issued equity awards under the Incentive Plan and therefore has not had a determined schedule for award issuance. However, the Compensation Committee did not take material nonpublic information into account when determining the timing and terms of equity awards in 2025, and the Company does not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation.
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false
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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 36pt; text-align: justify;"><b>Pay Versus Performance</b></p>
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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">Under Item 402(v) of Regulation S-K, we must disclose pay-versus performance information for the most recently completed three fiscal years. The following table sets forth the required pay-versus performance disclosures in the form of the “total compensation” as reported in the Company’s “Summary Compensation Table” for the PEO (current and former) and as an average for the other named executive officers.</p>
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<p style="font-family: "Times New Roman", Times, serif; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Year</b></p>
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<td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 11%; border-top: 1px solid black; border-bottom: 1px solid black;"><b>Summary </b></td>
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<p style="font-family: "Times New Roman", Times, serif; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Compensation Actually<br/>
Paid to PEO (a)(b)</b></p>
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<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%; border-top: 1px solid black;"><b>Average</b></td>
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<p style="font-family: "Times New Roman", Times, serif; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Average</b></p>
</td>
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<td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 10%; border-top: 1px solid black; border-bottom: 1px solid black;"><b>Value of Initial Fixed </b></td>
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<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; text-align: center;"><b>Compensation</b></td>
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<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; text-align: center;"><b>Table</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; text-align: center;"><b>Actually</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"><b>Group</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 6%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 6%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-right: 1px solid black;"> </td>
</tr>
<tr>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; text-align: center;"><b>Total for</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; text-align: center;"><b>Paid to</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"><b>Total</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"><b>Total</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 6%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 6%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-right: 1px solid black;"> </td>
</tr>
<tr>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; text-align: center;"><b>Non-PEO</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; text-align: center;"><b>Non-PEO</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"><b>Shareholder </b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;"><b>Shareholder</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 6%;"><b>Net</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 6%;"><b>Adjusted</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-right: 1px solid black;"> </td>
</tr>
<tr class="finHeading" style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 8pt;">
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="3" rowspan="1" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 8%;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 8pt; font-variant: normal; margin: 0pt;">Tom McKinlay</p>
</td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="3" rowspan="1" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 7%;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 8pt; font-variant: normal; margin: 0pt;">Roeland Polet</p>
</td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="3" rowspan="1" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 8%;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 8pt; font-variant: normal; margin: 0pt;">Tom McKinlay</p>
</td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="3" rowspan="1" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 7%;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 8pt; font-variant: normal; margin: 0pt;">Roeland Polet</p>
</td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" rowspan="1" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; text-align: center;"><b>NEOs (c)</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"><b> </b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" rowspan="1" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; text-align: center;"><b>NEOs (c)(d)</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"><b> </b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Return (1)</b></p>
</td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; width: 1%;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Return (2)</b></p>
</td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"><b> </b></td>
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 6%;"><b>Income </b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"><b> </b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-left: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%;"><b> </b></td>
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 6%;"><b>EBITDA (3)</b></td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; width: 1%; border-right: 1px solid black;"><b> </b></td>
</tr>
<tr>
<td colspan="1" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 8%; border-left: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-left: 1px solid black;"> </td>
<td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-left: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 6%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-left: 1px solid black;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;"> </td>
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 6%;"> </td>
<td style="font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%; border-right: 1px solid black;"> </td>
</tr>
<tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 8pt;">
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 8%; border-left: 1px solid black;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">2025</p>
</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td>
<td style="width: 7%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">531,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td>
<td style="width: 7%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(921,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">378,667</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">378,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">53.23</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">81.14</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(49,397,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(38,317,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-right: 1px solid black;">)</td>
</tr>
<tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 8pt;">
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 8%; border-left: 1px solid black;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">2024</p>
</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 7%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">429,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">5,104,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 7%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">429,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">5,104,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">385,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">385,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">341.62</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">110.94</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">15,503,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">17,594,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td>
</tr>
<tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 8pt;">
<td style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 8%; border-left: 1px solid black;">
<p style="font-family: "Times New Roman", Times, serif; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">2023</p>
</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 7%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">699,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 7%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">699,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">436,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">436,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">87.11</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">147.44</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">37,382,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid black;"> </td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">$</td>
<td style="width: 6%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 8pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">34,983,000</td>
<td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-right: 1px solid black;"> </td>
</tr>
</tbody></table>
</div>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">
<tbody><tr style="vertical-align: top;">
<td style="width: 36pt;"> </td>
<td style="width: 18pt;">
<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">(a)</p>
</td>
<td style="width: auto;">
<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">Mr. McKinlay retired from the chief executive officer position in May 2024 and was given a separation payment of his expected bonus for 2024 (other compensation) as well as half his annual salary to provide certain consulting services to the Company. He will receive another payment of half his salary in 2025. He had been appointed as chief executive officer on July 31, 2022. In 2023, the Compensation Committee approved an adjustment to Mr. McKinlay's base salary to $400,000 per annum and that resulted in a lump sum payment in February 2023 of $56,000 (based on a deemed retroactive adjustment to August 2022). This lump sum payment was included in Mr. McKinlay’s compensation for 2023 as reported in our Annual Report for the year ended December 31, 2023, as amended.</p>
</td>
</tr>
</tbody></table>
<p style="margin: 0pt; font-size: 10pt; font-family: "Times New Roman";"> </p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<tbody><tr style="vertical-align: top; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<td style="width: 36pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 18pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">(b)</p>
</td>
<td style="width: auto; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">Mr. Polet was appointed Chief Executive Officer effective September 3, 2024 upon Mr. McKinlay’s retirement. Mr. Polet was issued 750,000 RSUs that vest annually on the anniversary date. These RSUs and related dividends had an intrinsic value of $4,519,000 and $392,000, respectively.</p>
</td>
</tr>
</tbody></table>
<p style="margin: 0pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<tbody><tr style="vertical-align: top; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<td style="width: 36pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 18pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">(c)</p>
</td>
<td style="width: auto; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">Non-PEO NEOs in each of the years presented included Rose M. Sparks, Charles Lyon and Kyle Gaither.</p>
</td>
</tr>
</tbody></table>
<p style="margin: 0pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<tbody><tr style="vertical-align: top; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<td style="width: 36pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td>
<td style="width: 18pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">(d)</p>
</td>
<td style="width: auto; font-family: "Times New Roman", Times, serif; font-size: 10pt;">
<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;">No stock awards or stock options were granted to our PEOs or Non-PEO NEOs in 2023. In 2024, the Company issued 750,000 RSUs to Roeland Polet, the Company’s Chief Executive Officer, in connection with his Employment Agreement. The RSUs vest in five equal installments on each anniversary of the award date, September 3, 2024. No stock awards or stock options were granted to our Non-PEO NEOs in 2024. In 2025, the Company issued 5,012 shares of restricted stock to each of Rose M. Sparks and Kyle Gaither, which vest in three equal installments beginning April 2, 2026 and ending on the second anniversary of such date.</p>
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<p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">(1)</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Total stockholder return as calculated based on a fixed investment of one hundred dollars measured from the market close on December 31, 2023 (the last trading day of 2023) through and including the end of the fiscal year for each year reported in the table.</p>
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<p style="margin: 0pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">(2)</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Our peer group used for the total stockholder return calculation is Archer-Daniels-Midland Co., Arkema SA, Albemarle Corp., Alto Ingredients Inc., Aemetis Inc., Bunge Global SA, Cabot Corp., Chemours Co., Celanese Corp., Darling Ingredients Inc., Dow Inc., Eastman Chemical Co., Gevo Inc., Green Plains Inc., Hudson Technologies Inc., Huntsman Corp., Kronos Worldwide Inc., Lanxess Ag, Lyondellbasell Industries NV, Olin Corp., Rex American Resources Corp., Stepan Co., Solvay SA and Westlake Corp.</p>
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<p style="margin: 0pt; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">(3)</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-variant: normal; margin: 0pt;">Our Company-selected measure, which is the measure we believe represents the most important financial performance measure not otherwise presented in the table above that we use to link compensation actually paid to our named executive officers for 2025 to our Company’s performance, is Adjusted EBITDA (a non-GAAP financial measure). For a reconciliation of Adjusted EBITDA to net income (the relevant GAAP measure), please see the Company’s 2025 Annual Report; provided, that for purposes of the above table, the Company restated previously reported Adjusted EBITDA per interpretive guidance to exclude unrealized (non-cash) gains and losses on derivative instruments.</p>
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Tom McKinlay
Roeland Polet
0
531000
0
-921000
378667
378000
53.23
81.14
-49397000
-38317000
429000
5104000
429000
5104000
385000
385000
341.62
110.94
15503000
17594000
699000
0
699000
0
436000
436000
87.11
147.44
37382000
34983000
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 8pt;text-indent:29pt;"><b>Relationship Between Compensation Actually Paid and Performance Measures</b></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 8pt;">The charts below illustrate, for the past three fiscal years, the relationship between compensation actually paid to the PEOs and the average compensation actually paid to NEOs and the financial metrics disclosed in the Pay versus Performance Table.</p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;"><img alt="chart01.jpg" src="chart01.jpg"/></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;"><img alt="chart02.jpg" src="chart02.jpg"/></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;"><img alt="chart03.jpg" src="chart03.jpg"/></p>
<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt;"><b>Tabular List of Company Performance Measures</b></p>
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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">The following lists the measures we believe are most important in linking compensation actually paid to Company performance during 2025.</p>
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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">(a)</p>
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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">Adjusted EBITDA</p>
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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">(b)</p>
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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">Gross Profit</p>
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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">(c)</p>
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<p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">Net Income</p>
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Adjusted EBITDA
Gross Profit
Net Income