Pay Versus Performance Table
The following table sets forth additional compensation information of our principal executive officer (“PEO”) and averaged compensation information for our other named executive officer (“Other NEO”) along with total shareholder return (“TSR”) and net income for fiscal 2026, 2025, and 2024.
|
Fiscal Year |
Summary Compensation Table Total for PEO(a) ($) |
Compensation Actually Paid to PEO(b) ($) |
Summary Compensation Table Total for Other NEO ($)(a) |
Compensation Actually Paid to Other NEO(b) ($) |
Value of Initial Fixed $100 Investment Based on TSR(c) ($) |
Net Income ($ in thousands) |
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|
2026 |
1,812,918 | 4,268,306 | 836,164 | 1,433,547 | 394.96 | $11,301 | ||||||||||||||||||
|
2025 |
1,486,329 | 4,853,665 | 756,674 | 903,214 | 205.32 | $7,537 | ||||||||||||||||||
|
2024 |
3,002,607 | 4,396,790 | 552,903 | 607,362 | 140.34 | $5,150 | ||||||||||||||||||
|
a. |
James L. Cunniff served as PEO in all reporting years. The Other NEO consists of Bradley M. Nagel in all reporting years. |
|
b. |
None of our named executive officers participate in a pension plan; therefore, no adjustment from the Summary Compensation Table (“SCT”) total related to pension value was made. A reconciliation of Total Compensation from the SCT to Compensation Actually Paid to our PEO and our Other NEO is shown below: |
|
2026 |
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|
Adjustments |
PEO ($) |
Other NEO ($) |
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|
Total Compensation from SCT |
1,812,918 | 836,164 | ||||||
|
(Subtraction): SCT amounts of Stock and Option awards |
(812,838) | (254,772) | ||||||
|
Addition: Fair value as of the end of the covered fiscal year of all awards granted during the covered fiscal year that are outstanding and unvested as of the end of the covered fiscal year |
1,581,002 | 495,786 | ||||||
|
Addition (Subtraction): Amount equal to the difference in fair value from the end of the prior fiscal year to the end of the covered fiscal year of any awards granted in any prior fiscal year that are outstanding and unvested as of the end of the covered fiscal year |
1,584,451 | 214,602 | ||||||
|
Addition: Fair value as of the vesting date, for awards that are granted and vest in the same year |
- | - | ||||||
|
Addition (Subtraction): Amount equal to the difference in fair value from the end of the prior fiscal year to the vesting date of any awards granted in any prior fiscal year for which all applicable vesting conditions were satisfied at the end of or during the covered fiscal year |
102,773 | 141,767 | ||||||
|
(Subtraction): Amount equal to the fair value at the end of the prior fiscal year for any awards granted in any prior fiscal year that fail to meet the applicable vesting conditions during the covered fiscal year |
- | - | ||||||
|
Addition: Dividends or other earnings paid on stock or option awards in the covered year prior to vesting if not otherwise included in the total compensation for the covered year |
- | - | ||||||
|
Compensation Actually Paid (as calculated) |
4,268,306 | 1,433,547 | ||||||
|
c. |
TSR as calculated based on a fixed investment of one hundred dollars measured from the market close on June 30, 2023 (the last trading day of fiscal 2023) through and including the end of the fiscal year for each year reported in the table. |
Relationship between Pay and Performance
The charts shown below present a graphical comparison of CAP to our PEO and CAP to our other NEO set forth in the Pay versus Performance Table above, as compared against the following performance measures: our (1) total shareholder return and (2) net income.
Compensation Actually Paid $1,000,000, $2,000,000, $3,000,000, $4,000,000, $5,000,000, $6,000,000 Value of Fixed $100 Investment Based on TSR $0, $50, $100, $150, $200, $250, $300, $350, $400, $450 2024 TSR: $140.34 2025 TSR: $205.32 2026 TSR: $394.96 Compensation Actually Paid to PEO Average Compensation Actually Paid to Non-PEO NEO Value of Fixed $100 Investment Based on TSR
|
1. |
Total shareholder return in the above chart reflects the cumulative return through the end of each fiscal year of $100 as if invested on June 30, 2023, including reinvestment of any dividends. |
Compensation Actually Paid vs. Net Income Compensation Actually Paid $1,000,000, $2,000,000, $3,000,000, $4,000,000, $5,000,000, $6,000,000 Net Income $0, $2,000,000, $4,000,000, $6,000,000, $8,000,000, $10,000,000, $12,000,000 2024 Net Income: 5,150,000 2025 Net Income: 7,537,000 2026 Net Income: 11,301,000 Compensation Actually Paid to PEO Average Compensation Actually Paid to Non-PEO NEO Value of Fixed $100 Investment Based on TSR