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Pay versus Performance Disclosure The following tables and related disclosures provide information about (i) the “total compensation” of our CEO, and our other named executive officers (the “Other NEOs” or the “Non-CEO NEOs”) as presented in the Summary Compensation Table on page 22 of this proxy statement, (ii) the “compensation actually paid” to our CEO and our Other NEOs, as calculated pursuant to the SEC’s pay-versus-performance rules, (iii) certain financial performance measures, and (iv) the relationship of the “compensation actually paid” to those financial performance measures. This disclosure has been prepared in accordance with Item 402(v) of Regulation S-K under the Securities Exchange Act of 1934, as amended, and does not necessarily reflect value actually realized by the executives or how our compensation committee evaluates compensation decisions in light of company or individual performance. <table cellpadding="0" cellspacing="0" id="xdx_30F_zAQnYDpnwr37" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: left">Year</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Summary Compensation Table Total for CEO(1)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Compensation Actually Paid to CEO(1)(2)(3)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Average Summary Compensation Table Total for Non-CEO NEOs(1)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Average Compensation Actually Paid to Non-CEO NEOs(1)(2)(3)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Value of Initial Fixed $100 Investment Based On Total Shareholder Return(4)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net Income/(Loss) (in thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 40%; text-align: left">2025</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eecd--PeoTotalCompAmt_c20250101__20251231_zh1YhN7xjeL4" style="width: 7%; text-align: right">906,642</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eecd--PeoActuallyPaidCompAmt_c20250101__20251231_zLKJ90Dvzn08" style="width: 7%; text-align: right">(1,005,143</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eecd--NonPeoNeoAvgTotalCompAmt_c20250101__20251231_zbXv724lsedf" style="width: 7%; text-align: right">2,417,573</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20250101__20251231_zmRlZHym2dN8" style="width: 7%; text-align: right">1,012,568</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eecd--TotalShareholderRtnAmt_pp2p0_c20250101__20251231_zEPBeUiqS7r1" style="width: 7%; text-align: right">0.56</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--NetIncomeLoss_pn3n3_c20250101__20251231_zA248A4JwFDk" style="width: 7%; text-align: right">(26,980</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eecd--PeoTotalCompAmt_c20240101__20241231_zXkfsfhEPJLg" style="text-align: right">1,491,187</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eecd--PeoActuallyPaidCompAmt_c20240101__20241231_zx9rEURKyB7b" style="text-align: right">1,258,008</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eecd--NonPeoNeoAvgTotalCompAmt_c20240101__20241231_zZ7onbStkEr2" style="text-align: right">935,119</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20240101__20241231_zcet2Ip6XlL" style="text-align: right">860,465</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eecd--TotalShareholderRtnAmt_pp2p0_c20240101__20241231_z2NGquTvE52h" style="text-align: right">6.94</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--NetIncomeLoss_pn3n3_c20240101__20241231_zutO8q4DqWj7" style="text-align: right">(38,511</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eecd--PeoTotalCompAmt_c20230101__20231231_zrInk9HSjZZ3" style="text-align: right">8,342,714</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eecd--PeoActuallyPaidCompAmt_c20230101__20231231_zKEirDX4mO7a" style="text-align: right">3,748,895</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eecd--NonPeoNeoAvgTotalCompAmt_c20230101__20231231_zu3yCcn6FKed" style="text-align: right">2,933,365</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20230101__20231231_zWBOvf04wPU6" style="text-align: right">1,534,773</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eecd--TotalShareholderRtnAmt_pp2p0_c20230101__20231231_zmrmpNCruN3k" style="text-align: right">2.06</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--NetIncomeLoss_pn3n3_c20230101__20231231_zx9HH0Wr50n6" style="text-align: right">(42,199</td><td style="text-align: left">)</td></tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <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: 0.25in; text-align: justify">1)</td> <td style="text-align: justify">Todd Bazemore was appointed as Interim Chief Executive Officer on February 11, 2025 and was later appointed to Chief Executive Officer on August 29, 2025. He ceased to serve as Chief Executive Officer on November 21, 2025.The CEO for 2024 and 2023 is Mark Iwicki. The Non-CEO NEOs for whom the average compensation is presented in this table for 2025, 2024 and 2023 are Todd Bazemore, Kim Brazzell and Mary Reumuth.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">2)</td> <td style="text-align: justify">The amounts shown as Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually realized or received by the Company’s NEOs. These amounts reflect total compensation as set forth in the Summary Compensation Table for each year, adjusted as described in footnote 3 below.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">3)</td> <td style="text-align: justify">Compensation Actually Paid reflects the exclusions and inclusions for the CEO and the Non-CEO NEOs set forth below. Amounts excluded, which are set forth in the “Minus Stock and Option Awards from SCT” columns below, represent the Stock Awards and Option Awards reported in the Stock Awards and Option Awards columns of the Summary Compensation Table for each applicable year. Amounts added back to determine Compensation Actually Paid are made up of the following components which are set forth in the table below, as applicable: (i) the fair value as of the end of the fiscal year of outstanding and unvested equity awards granted in that year; (ii) the change in fair value during the year of equity awards granted in prior years that remained outstanding and unvested at the end of the year; (iii) the fair value as of the vesting date of equity awards that were granted and vested in that year; and (iv) the change in fair value during the year through the vesting date of equity awards granted in prior years that vested during that year. The fair value at the end of the prior year of awards granted in any prior year that failed to meet applicable vesting conditions during the covered year are subtracted, although there were no such awards for the CEO or the Non-CEO NEOs in 2023, 2024 or 2025. Equity values are calculated in accordance with FASB ASC Topic 718.</td></tr> </table> 906642 -1005143 2417573 1012568 0.56

-26980000

1491187 1258008 935119 860465 6.94

-38511000

8342714 3748895 2933365 1534773 2.06

-42199000

<table cellpadding="0" cellspacing="0" id="xdx_300_zGK491LwSev" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: left">Year</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SCT Total for CEO</td><td style="font-weight: bold"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">Minus Stock and Option Awards from SCT</td><td style="font-weight: bold; font-style: italic"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">Plus Year-End Equity Value of Unvested Awards Granted During Year</td><td style="font-weight: bold; font-style: italic"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">Plus Change in Value of Unvested Awards Granted in Prior Years</td><td style="font-weight: bold; font-style: italic"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">Plus Value of Awards Granted and Vested During Year</td><td style="font-weight: bold; font-style: italic"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">Plus Change in Value of Prior Years’ Awards Vested During Year</td><td style="font-weight: bold; font-style: italic"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Comp. Actually Paid to CEO</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 30%; text-align: left">2025</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eecd--PeoTotalCompAmt_c20250101__20251231_zcDahcr8V3l4" style="width: 7%; text-align: right">906,642</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eecd--AdjToCompAmt_c20250101__20251231__ecd--AdjToCompAxis__custom--PEOMinusStockAndOptionAwardsfromSCTMember_zt7GlmvlmOxb" style="width: 7%; text-align: right">793,880</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eecd--AdjToCompAmt_c20250101__20251231__ecd--AdjToCompAxis__ecd--YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_zL2WKc95QCU8" style="width: 7%; text-align: right">52,194</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eecd--AdjToCompAmt_c20250101__20251231__ecd--AdjToCompAxis__ecd--ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_zhfKcf6dk1Ec" style="width: 7%; text-align: right">(876,536</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eecd--AdjToCompAmt_c20250101__20251231__ecd--AdjToCompAxis__ecd--VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_z3s0Yb8Fltgh" style="width: 7%; text-align: right">102,062</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eecd--AdjToCompAmt_c20250101__20251231__ecd--AdjToCompAxis__ecd--ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_zCzsVKGNgWtf" style="width: 7%; text-align: right">(395,624</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eecd--PeoActuallyPaidCompAmt_c20250101__20251231_zbr9mRzPoRme" style="width: 7%; text-align: right">(1,005,143</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eecd--PeoTotalCompAmt_c20240101__20241231_zALaYVoxDXZb" style="text-align: right">1,491,187</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eecd--AdjToCompAmt_c20240101__20241231__ecd--AdjToCompAxis__custom--PEOMinusStockAndOptionAwardsfromSCTMember_zNHpCUef5i82" style="text-align: right">477,728</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eecd--AdjToCompAmt_c20240101__20241231__ecd--AdjToCompAxis__ecd--YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_zYuZYyN7WX0e" style="text-align: right">373,194</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eecd--AdjToCompAmt_c20240101__20241231__ecd--AdjToCompAxis__ecd--ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_zcKBoWVD1jcc" style="text-align: right">(19,888</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eecd--AdjToCompAmt_c20240101__20241231__ecd--AdjToCompAxis__ecd--VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_zUmiWPziakBg" style="text-align: right">79,911</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eecd--AdjToCompAmt_c20240101__20241231__ecd--AdjToCompAxis__ecd--ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_z4T5U5tkKt65" style="text-align: right">(188,668</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eecd--PeoActuallyPaidCompAmt_c20240101__20241231_zlGO7W25xQBd" style="text-align: right">1,258,008</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_eecd--PeoTotalCompAmt_c20230101__20231231_zkFa08AbNVi4" style="text-align: right">8,342,714</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eecd--AdjToCompAmt_c20230101__20231231__ecd--AdjToCompAxis__custom--PEOMinusStockAndOptionAwardsfromSCTMember_zs6lxWP2E5K5" style="text-align: right">7,329,278</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eecd--AdjToCompAmt_c20230101__20231231__ecd--AdjToCompAxis__ecd--YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_zAh6YZ8LYCTl" style="text-align: right">3,160,055</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eecd--AdjToCompAmt_c20230101__20231231__ecd--AdjToCompAxis__ecd--ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_zY7B7nzSihNh" style="text-align: right">(15,793</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eecd--AdjToCompAmt_c20230101__20231231__ecd--AdjToCompAxis__ecd--VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_zlUBg7InvIzc" style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eecd--AdjToCompAmt_c20230101__20231231__ecd--AdjToCompAxis__ecd--ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_zsWg5QTncGWf" style="text-align: right">(408,803</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eecd--PeoActuallyPaidCompAmt_c20230101__20231231_zmWSVNAyfACc" style="text-align: right">3,748,895</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_304_zpy05NltEUK5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: left">Year</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Average SCT Total for Other NEOs</td><td style="font-weight: bold"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">Minus Average Stock and Option Awards from SCT</td><td style="font-weight: bold; font-style: italic"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">Plus Avg. Year-End Equity Value of Unvested Awards Granted During Year</td><td style="font-weight: bold; font-style: italic"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">Plus Avg. Change in Value of Unvested Awards Granted in Prior Years</td><td style="font-weight: bold; font-style: italic"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">Plus Avg. Value of Awards Granted and Vested During Year</td><td style="font-weight: bold; font-style: italic"> </td><td style="font-weight: bold; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center">Plus Avg. Change in Value of Prior Years’ Awards Vested During Year</td><td style="font-weight: bold; font-style: italic"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Average Comp. Actually Paid to Other NEOs</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 30%; text-align: left">2025</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eecd--NonPeoNeoAvgTotalCompAmt_c20250101__20251231_z5UmWiodhYvh" style="width: 7%; text-align: right">2,417,573</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--EqtyAwrdsInSummryCompstnTblForAplblYrMember_zKy7rdqWc41a" style="width: 7%; text-align: right">1,349,679</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_z8vUdFlD7t12" style="width: 7%; text-align: right">51,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_zXdIdMZ4Fvri" style="width: 7%; text-align: right">(186,820</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_zX4Qkj1SIta" style="width: 7%; text-align: right">126,320</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eecd--AdjToCompAmt_c20250101__20251231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_zHvUBVkevnn1" style="width: 7%; text-align: right">(46,326</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20250101__20251231_zpCFh0y1C6gk" style="width: 7%; text-align: right">1,012,568</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">2024</td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eecd--NonPeoNeoAvgTotalCompAmt_c20240101__20241231_zhGNNdtniFM8" style="text-align: right">935,119</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--EqtyAwrdsInSummryCompstnTblForAplblYrMember_z7aPau9tuyl5" style="text-align: right">217,043</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_zlePGKMdzlja" style="text-align: right">169,553</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_z3nypywPeDie" style="text-align: right">(6,068</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_zc4W3IrGrDYg" style="text-align: right">36,304</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eecd--AdjToCompAmt_c20240101__20241231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_zvCWFQaepHqa" style="text-align: right">(57,400</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20240101__20241231_zYQRouG6ysB9" style="text-align: right">860,465</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">2023</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eecd--NonPeoNeoAvgTotalCompAmt_c20230101__20231231_zdpzZssRjyhb" style="text-align: right">2,933,365</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--EqtyAwrdsInSummryCompstnTblForAplblYrMember_zDQYjkQS19Oc" style="text-align: right">2,211,832</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_zdOfVNykkYj8" style="text-align: right">956,535</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_zD1omwwmDY5j" style="text-align: right">(5,732</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_zUb3OZIiafB8" style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eecd--AdjToCompAmt_c20230101__20231231__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__ecd--ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_zG4gNp9QZD9a" style="text-align: right">(137,563</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20230101__20231231_zHMHzrEPxuMi" style="text-align: right">1,534,773</td><td style="text-align: left"> </td></tr> </table> For the equity values included in the above tables, the valuation assumptions used to calculate fair values of stock options were materially different from those disclosed at the time of the grant of the stock options. The assumptions used in determining fair value of the stock options that vested during 2023, 2024 and 2025, or that were outstanding as of December 31, 2023, December 31, 2024 or December 31, 2025, as applicable, are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Vested During Year or Outstanding on December 31 of:</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Expected Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">102.65% - 185.84%</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">103.47% - 114.24%</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105.29% - 111.91%</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Risk-Free Interest Rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.45% - 4.38%</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.51% - 4.77%</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.32% - 4.24%</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; width: 55%; text-align: left">Expected Dividend Yield</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">0</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">0</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">0</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Expected Term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.08 - 10.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.48 - 9.92</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.00 - 9.00</td><td style="text-align: left"> </td></tr> </table> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <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="font-size: 10pt; text-align: justify; width: 0.25in">4)</td> <td style="text-align: justify; font-size: 10pt">Total Shareholder Return illustrates the value, as of the last day of the indicated fiscal year, of an investment of $100 in Kala common stock on December 31, 2022.</td></tr> </table> 906642 793880 52194 -876536 102062 -395624 -1005143 1491187 477728 373194 -19888 79911 -188668 1258008 8342714 7329278 3160055 -15793 -408803 3748895 2417573 1349679 51500 -186820 126320 -46326 1012568 935119 217043 169553 -6068 36304 -57400 860465 2933365 2211832 956535 -5732 -137563 1534773 Description of Relationship Between NEO Compensation Actually Paid and Company Total Shareholder Return (“TSR”) The following chart sets forth the relationship between Compensation Actually Paid to our CEO, the average of Compensation Actually Paid to our Non-CEO NEOs, and the Company’s TSR over the fiscal three year period from 2023 through 2025. <img alt="" src="img_001.jpg" style="height: 299px; width: 550px"/> Description of Relationship Between NEO Compensation Actually Paid and Net Income/(Loss) The following chart sets forth the relationship between Compensation Actually Paid to our CEO, the average of Compensation Actually Paid to our Non-CEO NEOs, and the Company’s Net Income (Loss) over the fiscal three year period from 2023 through 2025. <img alt="" src="img_002.jpg" style="height: 299px; width: 550px"/> Our directors and executive officers have adopted and may in the future adopt written plans, known as Rule 10b5-1 plans, in which they will contract with a broker to buy or sell shares of our Common Stock on a periodic basis. Under a Rule 10b5-1 plan, a broker executes trades pursuant to parameters established by the director or officer when entering into the plan, without further direction from the director or officer. It also is possible that the director or officer could amend or terminate the plan when not in possession of material, nonpublic information. In addition, our directors and executive officers may buy or sell additional shares outside of a Rule 10b5-1 plan when they are not in possession of material, nonpublic information. true true true true true Timing of Equity Awards We generally grant stock options and restricted stock units to employees and directors on an annual basis and may also grant equity awards upon hire, promotion or for retention purposes. We do not grant stock appreciation rights. For options, the exercise price equals the closing market price of our common stock on the Nasdaq Capital Market on the grant date. The compensation committee does not take material non-public information into account when determining the timing or terms of equity awards, and we do not time the disclosure of material non-public information for the purpose of affecting the value of executive compensation. During the fiscal year ended December 31, 2025, we did not grant stock options to any named executive officer during any period beginning four business days before and ending one business day after the filing of any Form 10-Q or Form 10-K, or the filing or furnishing of a Form 8-K that discloses material non-public information.