Definitive proxy statements

Pay vs Performance Disclosure

v3.25.3
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

Pay Versus Performance

In accordance with disclosure requirements of the SEC regarding pay versus performance, this section presents the SEC-defined "Compensation Actually Paid." Compensation decisions made by our Compensation Committee and Board are made independently of disclosure requirements. Compensation Actually Paid should be viewed is a supplemental measure, not a replacement, of other performance measures as it relates to our compensation-setting strategy.

The following table sets forth information regarding our pay versus performance analysis for the years ended December 31, 2024 and 2023:

 

 

 

 

 

Compensation Actually Paid to PEO

 

 

 

 

 

 

 

 

 

 

 

 

 

Year

 

Summary Compensation Table Total for PEO

 

 

Alan Knitowski

 

 

Russell Buyse

 

 

Michael Snavely

 

 

Stephen Chen

 

 

Average Summary Compensation Table Total for Non-PEO NEOs

 

 

Average Compensation Actually Paid to Non-PEO NEOs

 

 

Value of Initial Fixed $100 Investment Based On
Total Shareholder Return

 

 

Net Loss (in thousands)

 

2024(1)

 

$

612,427

 

 

$

—

 

 

$

—

 

 

$

557,578

 

 

$

54,849

 

 

$

360,463

 

 

$

366,200

 

 

$

3.95

 

 

$

(10,316

)

2023(2)

 

$

691,361

 

 

$

—

 

 

$

495,700

 

 

$

282,551

 

 

$

—

 

 

$

475,026

 

 

$

113,331

 

 

$

3.12

 

 

$

(52,785

)

2022(3)

 

$

619,387

 

 

$

(753,170

)

 

$

43,693

 

 

$

—

 

 

$

—

 

 

$

1,020,883

 

 

$

637,383

 

 

$

29.39

 

 

$

(50,894

)
(1)
Our PEOs during 2024 were Michael Snavely and Stephen Chen. Our non-PEO NEOs for 2024 were Chris Olive and Jeremy Kidd.
(2)
Our PEOs during 2023 were Russell Buyse and Michael Snavely. Our non-PEO NEOs for 2023 were Troy Reisner and Chris Olive.
(3)
Our PEOs during 2022 were Alan Knitowski and Russell Buyse. Our non-PEO NEOs for 2022 were Matt Lull and Chris Olive.

 

The following table provides a reconciliation of total compensation per our Summary Compensation Table to Compensation Actually Paid as disclosed above:

 

 

PEO

 

 

Average Non-PEO NEO

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2024

 

 

2023

 

 

2022

 

 

Summary compensation table total

 

$

612,427

 

 

$

691,361

 

 

$

619,387

 

 

$

360,463

 

 

$

475,026

 

 

$

1,020,883

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock awards reported in summary compensation table

 

 

—

 

 

 

(219,450

)

 

 

—

 

 

 

—

 

 

 

(205,820

)

 

 

(770,000

)

 

Further adjusted for:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair value of awards as of December 31 granted in current year, outstanding and unvested

 

 

—

 

 

 

65,600

 

 

 

—

 

 

 

—

 

 

 

37,433

 

 

 

386,500

 

 

Change in fair value of awards granted in prior fiscal year, outstanding and unvested

 

 

—

 

 

 

—

 

 

 

(878,849

)

 

 

4,077

 

 

 

(172,750

)

 

 

—

 

 

Fair value of awards, granted and vested in same year

 

 

—

 

 

 

240,740

 

 

 

—

 

 

 

—

 

 

 

10,645

 

 

 

—

 

 

Change in fair value of awards granted in prior years, but vested in current year

 

 

—

 

 

 

—

 

 

 

(450,015

)

 

 

1,661

 

 

 

(31,202

)

 

 

—

 

 

Compensation actually paid

 

$

612,427

 

 

$

778,251

 

 

$

(709,477

)

 

$

366,200

 

 

$

113,331

 

 

$

637,383

 

 

 

    
Named Executive Officers, Footnote
(1)
Our PEOs during 2024 were Michael Snavely and Stephen Chen. Our non-PEO NEOs for 2024 were Chris Olive and Jeremy Kidd.
(2)
Our PEOs during 2023 were Russell Buyse and Michael Snavely. Our non-PEO NEOs for 2023 were Troy Reisner and Chris Olive.
(3)
Our PEOs during 2022 were Alan Knitowski and Russell Buyse. Our non-PEO NEOs for 2022 were Matt Lull and Chris Olive.
   
PEO Total Compensation Amount $ 612,427 $ 691,361 $ 619,387
PEO Actually Paid Compensation Amount $ 612,427 778,251 (709,477)
Adjustment To PEO Compensation, Footnote

The following table provides a reconciliation of total compensation per our Summary Compensation Table to Compensation Actually Paid as disclosed above:

 

 

PEO

 

 

Average Non-PEO NEO

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2024

 

 

2023

 

 

2022

 

 

Summary compensation table total

 

$

612,427

 

 

$

691,361

 

 

$

619,387

 

 

$

360,463

 

 

$

475,026

 

 

$

1,020,883

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock awards reported in summary compensation table

 

 

—

 

 

 

(219,450

)

 

 

—

 

 

 

—

 

 

 

(205,820

)

 

 

(770,000

)

 

Further adjusted for:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair value of awards as of December 31 granted in current year, outstanding and unvested

 

 

—

 

 

 

65,600

 

 

 

—

 

 

 

—

 

 

 

37,433

 

 

 

386,500

 

 

Change in fair value of awards granted in prior fiscal year, outstanding and unvested

 

 

—

 

 

 

—

 

 

 

(878,849

)

 

 

4,077

 

 

 

(172,750

)

 

 

—

 

 

Fair value of awards, granted and vested in same year

 

 

—

 

 

 

240,740

 

 

 

—

 

 

 

—

 

 

 

10,645

 

 

 

—

 

 

Change in fair value of awards granted in prior years, but vested in current year

 

 

—

 

 

 

—

 

 

 

(450,015

)

 

 

1,661

 

 

 

(31,202

)

 

 

—

 

 

Compensation actually paid

 

$

612,427

 

 

$

778,251

 

 

$

(709,477

)

 

$

366,200

 

 

$

113,331

 

 

$

637,383

 

 

 

    
Non-PEO NEO Average Total Compensation Amount $ 360,463 475,026 1,020,883
Non-PEO NEO Average Compensation Actually Paid Amount $ 366,200 113,331 637,383
Adjustment to Non-PEO NEO Compensation Footnote

The following table provides a reconciliation of total compensation per our Summary Compensation Table to Compensation Actually Paid as disclosed above:

 

 

PEO

 

 

Average Non-PEO NEO

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2024

 

 

2023

 

 

2022

 

 

Summary compensation table total

 

$

612,427

 

 

$

691,361

 

 

$

619,387

 

 

$

360,463

 

 

$

475,026

 

 

$

1,020,883

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock awards reported in summary compensation table

 

 

—

 

 

 

(219,450

)

 

 

—

 

 

 

—

 

 

 

(205,820

)

 

 

(770,000

)

 

Further adjusted for:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair value of awards as of December 31 granted in current year, outstanding and unvested

 

 

—

 

 

 

65,600

 

 

 

—

 

 

 

—

 

 

 

37,433

 

 

 

386,500

 

 

Change in fair value of awards granted in prior fiscal year, outstanding and unvested

 

 

—

 

 

 

—

 

 

 

(878,849

)

 

 

4,077

 

 

 

(172,750

)

 

 

—

 

 

Fair value of awards, granted and vested in same year

 

 

—

 

 

 

240,740

 

 

 

—

 

 

 

—

 

 

 

10,645

 

 

 

—

 

 

Change in fair value of awards granted in prior years, but vested in current year

 

 

—

 

 

 

—

 

 

 

(450,015

)

 

 

1,661

 

 

 

(31,202

)

 

 

—

 

 

Compensation actually paid

 

$

612,427

 

 

$

778,251

 

 

$

(709,477

)

 

$

366,200

 

 

$

113,331

 

 

$

637,383

 

 

 

    
Compensation Actually Paid vs. Total Shareholder Return

The following graph reflects the relationship among the compensation actually paid to our PEO(s), the average compensation paid to our non-PEO NEOs and the Company's cumulative total shareholder return (assuming an initial fixed investment of $100 on December 31, 2021) for the years ended December 31, 2024, 2023 and 2022:

 

img185853178_3.jpg

    
Compensation Actually Paid vs. Net Income

The following graph reflects the relationship among the compensation actually paid to our PEO(s), the average compensation paid to our non-PEO NEOs and the Company's net income for the years ended December 31, 2024, 2023 and 2022:

img185853178_4.jpg

    
Total Shareholder Return Amount $ 3.95 3.12 29.39
Net Income (Loss) (10,316) (52,785) (50,894)
Alan Knitowski      
Pay vs Performance Disclosure      
PEO Total Compensation Amount 0 0 $ (753,170)
PEO Name     Alan Knitowski
Russell Buyse      
Pay vs Performance Disclosure      
PEO Total Compensation Amount 0 $ 495,700 $ 43,693
PEO Name   Russell Buyse Russell Buyse
Michael Snavely      
Pay vs Performance Disclosure      
PEO Total Compensation Amount $ 557,578 $ 282,551 $ 0
PEO Name Michael Snavely Michael Snavely  
Stephen Chen      
Pay vs Performance Disclosure      
PEO Total Compensation Amount $ 54,849 $ 0 0
PEO Name Stephen Chen    
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 (219,450) 0
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 65,600 0
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 (878,849)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 240,740 0
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 (450,015)
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 (205,820) (770,000)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 37,433 386,500
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 4,077 (172,750) 0
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 10,645 0
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 1,661 $ (31,202) $ 0