0001823584 2025-07-01 2026-06-30 0001823584 2026-06-30 2025-07-01 2026-06-30 0001823584 2024-07-01 2025-06-30 0001823584 AENT:GrantDateFairValueOfStockAndOptionAwardsReportedInTheSummaryCompensationTableMember ecd:PeoMember 2024-07-01 2025-06-30 0001823584 AENT:GrantDateFairValueOfStockAndOptionAwardsReportedInTheSummaryCompensationTableMember ecd:NonPeoNeoMember 2024-07-01 2025-06-30 0001823584 AENT:GrantDateFairValueOfStockAndOptionAwardsReportedInTheSummaryCompensationTableMember ecd:PeoMember 2025-07-01 2026-06-30 0001823584 AENT:GrantDateFairValueOfStockAndOptionAwardsReportedInTheSummaryCompensationTableMember ecd:NonPeoNeoMember 2025-07-01 2026-06-30 0001823584 AENT:FiscalYearEndFairValueOfAwardsGrantedDuringTheFiscalYearThatRemainedOutstandingAndUnvestedMember ecd:PeoMember 2024-07-01 2025-06-30 0001823584 AENT:FiscalYearEndFairValueOfAwardsGrantedDuringTheFiscalYearThatRemainedOutstandingAndUnvestedMember ecd:NonPeoNeoMember 2024-07-01 2025-06-30 0001823584 AENT:FiscalYearEndFairValueOfAwardsGrantedDuringTheFiscalYearThatRemainedOutstandingAndUnvestedMember ecd:PeoMember 2025-07-01 2026-06-30 0001823584 AENT:FiscalYearEndFairValueOfAwardsGrantedDuringTheFiscalYearThatRemainedOutstandingAndUnvestedMember ecd:NonPeoNeoMember 2025-07-01 2026-06-30 0001823584 AENT:ChangeInFairValueFromPriorFiscalYearEndOfAwardsGrantedInPriorYearsThatRemainedOutstandingAndUnvestedAtFiscalYearEndMember ecd:PeoMember 2024-07-01 2025-06-30 0001823584 AENT:ChangeInFairValueFromPriorFiscalYearEndOfAwardsGrantedInPriorYearsThatRemainedOutstandingAndUnvestedAtFiscalYearEndMember ecd:NonPeoNeoMember 2024-07-01 2025-06-30 0001823584 AENT:ChangeInFairValueFromPriorFiscalYearEndOfAwardsGrantedInPriorYearsThatRemainedOutstandingAndUnvestedAtFiscalYearEndMember ecd:PeoMember 2025-07-01 2026-06-30 0001823584 AENT:ChangeInFairValueFromPriorFiscalYearEndOfAwardsGrantedInPriorYearsThatRemainedOutstandingAndUnvestedAtFiscalYearEndMember ecd:NonPeoNeoMember 2025-07-01 2026-06-30 0001823584 AENT:FairValueAtVestingOfAwardsGrantedAndVestedDuringTheFiscalYearMember ecd:PeoMember 2024-07-01 2025-06-30 0001823584 AENT:FairValueAtVestingOfAwardsGrantedAndVestedDuringTheFiscalYearMember ecd:NonPeoNeoMember 2024-07-01 2025-06-30 0001823584 AENT:FairValueAtVestingOfAwardsGrantedAndVestedDuringTheFiscalYearMember ecd:PeoMember 2025-07-01 2026-06-30 0001823584 AENT:FairValueAtVestingOfAwardsGrantedAndVestedDuringTheFiscalYearMember ecd:NonPeoNeoMember 2025-07-01 2026-06-30 0001823584 AENT:ChangeInFairValueThroughVestingDateOfAwardsGrantedInPriorYearsThatVestedDuringTheFiscalYearMember ecd:PeoMember 2024-07-01 2025-06-30 0001823584 AENT:ChangeInFairValueThroughVestingDateOfAwardsGrantedInPriorYearsThatVestedDuringTheFiscalYearMember ecd:NonPeoNeoMember 2024-07-01 2025-06-30 0001823584 AENT:ChangeInFairValueThroughVestingDateOfAwardsGrantedInPriorYearsThatVestedDuringTheFiscalYearMember ecd:PeoMember 2025-07-01 2026-06-30 0001823584 AENT:ChangeInFairValueThroughVestingDateOfAwardsGrantedInPriorYearsThatVestedDuringTheFiscalYearMember ecd:NonPeoNeoMember 2025-07-01 2026-06-30 0001823584 AENT:PriorFiscalYearEndFairValueOfAwardsThatFailedToMeetApplicableVestingConditionsDuringTheFiscalYearMember ecd:PeoMember 2024-07-01 2025-06-30 0001823584 AENT:PriorFiscalYearEndFairValueOfAwardsThatFailedToMeetApplicableVestingConditionsDuringTheFiscalYearMember ecd:NonPeoNeoMember 2024-07-01 2025-06-30 0001823584 AENT:PriorFiscalYearEndFairValueOfAwardsThatFailedToMeetApplicableVestingConditionsDuringTheFiscalYearMember ecd:PeoMember 2025-07-01 2026-06-30 0001823584 AENT:PriorFiscalYearEndFairValueOfAwardsThatFailedToMeetApplicableVestingConditionsDuringTheFiscalYearMember ecd:NonPeoNeoMember 2025-07-01 2026-06-30 iso4217:USD false 0001823584 DEF 14A ALLIANCE ENTERTAINMENT HOLDING CORPORATION true The Board has adopted a clawback policy which allows us to recover performance-based compensation, whether cash or equity, from a current or former executive officer in the event of an Accounting Restatement. The clawback policy defines an Accounting Restatement as an accounting restatement of our financial statements due to our material noncompliance with any financial reporting requirement under the securities laws. Under such policy, we may recoup incentive-based compensation previously received by an executive officer that exceeds the amount of incentive-based compensation that otherwise would have been received had it been determined based on the restated amounts in the Accounting Restatement.The Board has the sole discretion to determine the form and timing of the recovery, which may include repayment, forfeiture and/or an adjustment to future performance-based compensation payouts or awards. The remedies under the clawback policy are in addition to, and not in lieu of, any legal and equitable claims available to the Company. While we do not have a formal written policy in place with regard to the timing of awards of options in relation to the disclosure of material nonpublic information, the Compensation Committee does not seek to time equity grants to take advantage of information, either positive or negative, about our company that has not been publicly disclosed. It has been our practice to grant equity awards to our officers and directors upon their appointment. We intend to issue equity grants to our officers and/or directors at the same time each year, in connection with our first meeting of the Board of Directors each fiscal year. Option grants are effective on the date the award determination is made by the Compensation Committee, and the exercise price of options is the closing market price of our Common Stock on the business day of the grant or, if the grant is made on a weekend or holiday, on the prior business day.During the fiscal year ended June 30, 2026, we did not award any options to a named executive officer in the period beginning four business days before the filing of a periodic report on Form 10-Q or Form 10-K, or the filing or furnishing of a current report on Form 8-K that discloses material nonpublic information, and ending one business day after the filing or furnishing of such report. false true Option grants are effective on the date the award determination is made by the Compensation Committee, and the exercise price of options is the closing market price of our Common Stock on the business day of the grant or, if the grant is made on a weekend or holiday, on the prior business day. false <table cellpadding="0" cellspacing="0" id="xdx_880_eecd--PvpTableTextBlock_zjl1bRef3G69" 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; text-align: left; font-weight: bold">Fiscal Year</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_482_eecd--PeoTotalCompAmt_zaSjOarA71yi" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Summary Compensation Table Total for PEO ($)(1)</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_48F_eecd--PeoActuallyPaidCompAmt_z0oFfeqxRL51" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Compensation Actually Paid to PEO ($)(2)</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_483_eecd--NonPeoNeoAvgTotalCompAmt_zzSsaWGWVFkl" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Average Summary Compensation Table Total for Non-PEO NEOs ($)(2)</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_48E_eecd--NonPeoNeoAvgCompActuallyPaidAmt_zwQw9YQF0jwj" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Average Compensation Actually Paid to Non-PEO NEOs ($)(2)</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_48D_eecd--TotalShareholderRtnAmt_pp2d_zaiQIE1gToh7" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Value of Initial Fixed $100 Investment Based on TSR ($)(3)</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_484_eus-gaap--NetIncomeLoss_zN66Y8Fj9hw8" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Net Income ($)(4)</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_416_20250701__20260630_zJtTb6gc65G" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">1,935,938</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">1,935,938</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">1,119,817</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">1,128,615</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">194.67</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 6%; text-align: right">13,058,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_410_20240701__20250630_z9hPGnwgUTY4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,315,216</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,315,216</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">789,621</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">789,621</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125.67</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,078,000</td><td style="text-align: left"> </td></tr> </table> 1935938 1935938 1119817 1128615 194.67

13058000

1315216 1315216 789621 789621 125.67

15078000

Named Executive Officers Included in the Table. Jeffrey Walker, our Chief Executive Officer, served as our principal executive officer (“PEO”) for each fiscal year presented. The non-PEO named executive officers (“Non-PEO NEOs”) included in the average compensation amounts were: (i) for fiscal 2025, Bruce Ogilvie, Executive Chairman, and Robert Black; and (ii) for fiscal 2026, Bruce Ogilvie, Executive Chairman, and Amanda Gnecco, Chief Financial Officer. Jeffrey Walker Jeffrey Walker Compensation actually paid (“CAP”) represents the amount reported in the “Total” column of the Summary Compensation Table for the applicable fiscal year, adjusted as required by Item 402(v) of Regulation S-K. <div><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="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Adjustment</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20240701__20250630__ecd--IndividualAxis__ecd--PeoMember_zdoXDRfu9Dn6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025 PEO ($)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_493_20240701__20250630__ecd--IndividualAxis__ecd--NonPeoNeoMember_zuuJF2Defsy2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025 Average Non-PEO NEOs ($)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_491_20250701__20260630__ecd--IndividualAxis__ecd--PeoMember_zmoiZpO5GkD5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026 PEO ($)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20250701__20260630__ecd--IndividualAxis__ecd--NonPeoNeoMember_zcI4A4ZpWtld" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026 Average Non-PEO NEOs ($)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Summary Compensation Table Total</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,315,216</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">789,621</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,935,938</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,119,817</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--GrantDateFairValueOfStockAndOptionAwardsReportedInTheSummaryCompensationTableMember_zjYKWp3jiybf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Less: Grant-date fair value of stock and option awards reported in the Summary Compensation Table</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--FiscalYearEndFairValueOfAwardsGrantedDuringTheFiscalYearThatRemainedOutstandingAndUnvestedMember_zxbOcNlhXOPc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Add: Fiscal year-end fair value of awards granted during the fiscal year that remained outstanding and unvested</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--ChangeInFairValueFromPriorFiscalYearEndOfAwardsGrantedInPriorYearsThatRemainedOutstandingAndUnvestedAtFiscalYearEndMember_zPteo76HQIf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Add: Change in fair value from prior fiscal year-end of awards granted in prior years that remained outstanding and unvested at fiscal year-end</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,798</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--FairValueAtVestingOfAwardsGrantedAndVestedDuringTheFiscalYearMember_zGP97oQt31J2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Add: Fair value at vesting of awards granted and vested during the fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--ChangeInFairValueThroughVestingDateOfAwardsGrantedInPriorYearsThatVestedDuringTheFiscalYearMember_zhLyGPumCDpg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Add: Change in fair value through vesting date of awards granted in prior years that vested during the fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--PriorFiscalYearEndFairValueOfAwardsThatFailedToMeetApplicableVestingConditionsDuringTheFiscalYearMember_z8jXJaNptpQj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Prior fiscal year-end fair value of awards that failed to meet applicable vesting conditions during the fiscal year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Compensation Actually Paid</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,315,216</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">789,621</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,935,938</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,128,615</td><td style="text-align: left"> </td></tr> </table> </div> 1315216 789621 1935938 1119817 8798 1315216 789621 1935938 1128615 Compensation Actually Paid and Total Shareholder Return From fiscal 2025 to fiscal 2026, compensation actually paid to our PEO increased from approximately $1.3 million to approximately $1.9 million, an increase of approximately 47%. The increase was primarily attributable to the timing of compensation recognized during fiscal 2026. Fiscal 2026 compensation for our PEO included $166,154 of retroactive salary and $166,154 of retroactive bonus approved by the Board, while fiscal 2025 compensation reflected amounts paid at the reduced $640,000 annual salary and bonus levels. Accordingly, the year-over-year increase in compensation actually paid does not reflect a comparable increase in the PEO’s ongoing prospective annual compensation. Over the same period, the value of an initial fixed $100 investment in our Class A common stock increased from $125.67 to $194.67, an increase of approximately 55%. Average compensation actually paid to our Non-PEO NEOs increased from approximately $790,000 in fiscal 2025 to approximately $1.1 million in fiscal 2026, an increase of approximately 43%. The fiscal 2026 amount reflects, among other factors, $166,154 of retroactive salary and $166,154 of retroactive bonus paid to our Executive Chairman, changes in the composition of the Non-PEO NEO group between the periods presented, and the change in fair value during fiscal 2026 of Ms. Gnecco’s outstanding unvested equity awards. 1300000 1900000 125.67 194.67 790000 1100000 Compensation Actually Paid and Net Income Net income decreased from approximately $15.1 million in fiscal 2025 to approximately $13.1 million in fiscal 2026, a decrease of approximately 13%. Over the same period, compensation actually paid to our PEO increased approximately 47%, and average compensation actually paid to our Non-PEO NEOs increased approximately 43%. The increase in compensation actually paid during fiscal 2026 was primarily attributable to the timing of compensation recognized for our PEO and Executive Chairman. Fiscal 2026 compensation for each included $166,154 of retroactive salary and $166,154 of retroactive bonus approved by the Board, while fiscal 2025 compensation reflected amounts paid at the reduced $640,000 annual salary and bonus levels. Accordingly, the year-over-year increase in compensation actually paid should not be viewed as a comparable increase in ongoing prospective annual compensation or as being solely attributable to fiscal 2026 Company performance. The Non-PEO NEO comparison also reflects a change in the executives included in the average between fiscal 2025 and fiscal 2026.

15100000

13100000

Named Executive Officers Included in the Table. Jeffrey Walker, our Chief Executive Officer, served as our principal executive officer (“PEO”) for each fiscal year presented. The non-PEO named executive officers (“Non-PEO NEOs”) included in the average compensation amounts were: (i) for fiscal 2025, Bruce Ogilvie, Executive Chairman, and Robert Black; and (ii) for fiscal 2026, Bruce Ogilvie, Executive Chairman, and Amanda Gnecco, Chief Financial Officer. Compensation Actually Paid. Compensation actually paid (“CAP”) represents the amount reported in the “Total” column of the Summary Compensation Table for the applicable fiscal year, adjusted as required by Item 402(v) of Regulation S-K. Mr. Walker did not hold any outstanding equity awards requiring adjustment during the periods presented; accordingly, his CAP equals his Summary Compensation Table total for each fiscal year presented. The following table reconciles Summary Compensation Table compensation to CAP for the PEO and the average for the Non-PEO NEOs: The fiscal 2026 equity adjustment for the Non-PEO NEOs relates solely to 8,500 unvested restricted shares held by Ms. Gnecco under the 2023 Omnibus Equity and Incentive Plan. These shares were granted prior to fiscal 2026 and remained outstanding and unvested at June 30, 2026. No new equity awards were granted to Ms. Gnecco during fiscal 2026. In accordance with SEC rules, the fiscal 2026 adjustment reflects the change in fair value of these shares from June 30, 2025 to June 30, 2026. Based on closing market prices of $3.77 and $5.84 per share, respectively, the fair value increased from $32,045 to $49,640, an increase of $17,595. Because the Non-PEO NEO amounts are presented as an average of two executives, $8,798 of this increase is included in fiscal 2026 Average Compensation Actually Paid to Non-PEO NEOs. Total Shareholder Return. Total shareholder return (“TSR”) assumes an initial fixed investment of $100 in the Company’s Class A common stock as of June 30, 2024 (the last trading day of fiscal 2024), with all dividends, if any, reinvested. The Company did not declare or pay any dividends on its Class A common stock during the periods presented. Net Income. The amounts reported represent net income attributable to common stockholders as reflected in the Company’s audited consolidated financial statements for the applicable fiscal year.