Apyx Medical Corp
For the period ended Dec 31, 2023. Filed Jun 25, 2024.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Dec 31, 2023 · Filed Jun 25, 2024
Contents
Pay vs Performance
This section is included to comply with the provisions of Item 402(v) of Regulation S-K. For a more comprehensive analysis of our compensation philosophy please see the General Compensation Philosophy section of this filing. In the table and footnotes below, “PEO” refers to our principal executive officer, Charles D. Goodwin.
| Pay versus performance table | ||||||
|---|---|---|---|---|---|---|
| (a) | (b) | (c) | (d) | (e) | (f) | (h) |
| Year | Summary compensation table total for PEO | Compensation actually paid to PEO | Average summary compensation table total for non-PEO NEOs (1) | Average compensation actually paid to non-PEO NEOs (1) | Value of initial fixed $100 investment based on Total stockholder return | Net income (loss)(in thousands) |
| 2023 | $1,261,470 | $1,413,487 | $769,679 | $734,407 | $36 | $(18,713) |
| 2022 | $2,170,236 | $(653,639) | $974,614 | $(55,170) | $33 | $(23,184) |
| 2021 | $1,594,394 | $3,153,022 | $776,134 | $1,383,313 | $178 | $(15,172) |
(1)Reflects average compensation amounts for our non-PEO named executive officers for the respective years shown. Moshe Citronowicz, Todd Hornsby, Matthew Hill and Tara Semb are the non-PEO named executive officers for the 2023 year presented. Moshe Citronowicz, Todd Hornsby and Tara Semb are the non-PEO named executive officers for the 2022 and 2021 years presented.
(2)The following table summarizes the adjustments from summary table total compensation to compensation actually paid:
| PEO | Non-PEO NEOs | |||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | 2021 | 2023 | 2022 | 2021 | |
| Summary compensation table total compensation | $1,261,470 | $2,170,236 | $1,594,394 | $769,679 | $974,614 | $776,134 |
| Grant date fair value of awards granted during the year | (448,335) | (1,664,793) | (701,420) | (164,820) | (612,023) | (257,861) |
| Fair value of awards granted during the year that are outstanding and unvested as of year-end | 493,290 | 255,114 | 1,001,366 | 116,387 | 93,787 | 368,129 |
| Change in fair value from prior year-end to current year-end of awards granted in prior years that were outstanding and unvested as of year-end | 65,731 | (1,156,271) | 1,034,657 | 15,509 | (425,076) | 356,305 |
| Change in fair value from prior year-end to vesting date of awards granted in prior years that vested during the year | 41,331 | (257,925) | 224,025 | 660 | (86,472) | 140,606 |
| Fair value of awards granted during the year that vested during the year | — | — | — | 8,192 | — | — |
| Prior year-end fair value of awards granted in prior years that were forfeited during the year | — | — | — | (11,200) | — | — |
| Compensation actually paid | $1,413,487 | $(653,639) | $3,153,022 | $734,407 | $(55,170) | $1,383,313 |
Stock option grant date fair values are calculated based on the Black-Scholes option pricing model as of the grant date. Adjustments have been made using stock option fair values as of each measurement date using the stock price as of the measurement date and updated assumptions (i.e., term, volatility, risk free rates) as of the measurement date. The change in stock price was the primary driver for the adjustments in the table above.
The following table presents a comparison of our actual compensation paid to NEOs versus our total stockholder return, net losses:
| (in thousands except per share data) | 2023 | 2022 | 2023 vs 2022 Change | 2021 | 2022 vs 2021 Change |
|---|---|---|---|---|---|
| Total stockholder return (change in stock price) | $2.62 | $2.34 | 12.0% | $12.82 | -81.7% |
| Net loss attributable to stockholders | $(18,713) | $(23,184) | 19.3% | $(15,172) | -52.8% |
| Actual compensation paid to NEOs | $3,617 | $(819) | 541.6% | $7,303 | -111.2% |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.