BARRETT BUSINESS SERVICES INC
For the period ended Jun 2, 2025. Filed Apr 21, 2025.
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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.
Jun 2, 2025 · Filed Apr 21, 2025
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Contents
Pay Versus Performance
| Summary Compensation Table Total for the · Average Summary Compensation Table Total for · Average Compensation · Value of Initial Fixed $100 Investment based on: | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Year | PrincipalExecutiveOfficer("PEO") (1) | Compensation ActuallyPaid tothe PEO (1) | Summary Compensation Table Total for the PEO ⁽²⁾ | Compensation Actually Paid to the PEO ⁽²⁾ | Non-PEO Named Executive Officers ("NEO's") (3) | Actually Paid to Non-PEO NEOs (3) | Total Shareholder Return | Peer Group Total Shareholder Return (4) | Net Income (in thousands) (5) | Gross Billings (in thousands) (6) |
| 2024 | $4,317,412 | $10,397,339 | N/A | N/A | $1,675,520 | $3,289,391 | $207 | $144 | $52,993 | $8,327,091 |
| 2023 | $3,787,616 | $6,150,744 | N/A | N/A | $1,394,186 | $2,025,153 | $137 | $121 | $50,612 | $7,716,152 |
| 2022 | $4,217,404 | $7,132,315 | N/A | N/A | $1,568,301 | $2,443,965 | $109 | $114 | $47,268 | $7,393,808 |
| 2021 | $2,989,765 | $4,055,270 | N/A | N/A | $1,357,912 | $1,631,691 | $79 | $152 | $38,079 | $6,569,986 |
| 2020 | $1,915,456 | $476,863 | $1,353,477 | $(2,489,129) | $945,536 | $(87,475) | $77 | $101 | $33,765 | $5,924,539 |
(1)Except as otherwise provided above, Mr. Kramer was the PEO for all five years presented in the table. Mr. Elich was the PEO until he retired from the Company on March 5, 2020. A reconciliation of the Summary Compensation Table and Compensation Actually Paid totals for 2024 is as follows:
| Current PEO SCT Total to CAP Reconciliation | 2024 |
|---|---|
| Total Compensation as reported in Summary Compensation Table | $4,317,412 |
| Subtract grant date fair value of equity awards granted during 2024 | $(2,318,580) |
| Add year-end fair value of equity awards granted in 2024 that are outstanding and unvested as of last day of 2024 | $3,178,201 |
| Add/subtract change in fair value from last day of prior year to last day of 2024 of any awards granted in prior years that are outstanding and unvested as of last day of 2024 | $4,965,915 |
| Add/subtract the amount of change in fair value from last day of prior year to the vesting date for awards granted in prior years that vested in 2024. | $255,781 |
| Subtract the amount of fair value at the end of the prior fiscal year for awards granted in prior years that forfeited during 2024. | $(1,390) |
| Compensation Actually Paid to PEO | $10,397,339 |
(2)Mr. Elich was the PEO until he retired from the Company on March 5, 2020.
(3)For 2021, 2022, 2023, and 2024 Mr. Harris, Mr. Blotz, and Mr. Potts were the Non-PEO NEOs. For 2020, Mr. Harris, Mr. Blotz, Mr. Potts, and Heather Gould were the Non-PEO NEOs. A reconciliation of the Summary Compensation Table and Compensation Actually Paid totals for 2024 is as follows:
| NEO Average SCT Total to CAP Reconciliation | 2024 |
|---|---|
| Total Compensation as reported in Summary Compensation Table | $1,675,520 |
| Subtract grant date fair value of equity awards granted during 2024 | $(711,104) |
| Add year-end fair value of equity awards granted in 2024 that are outstanding and unvested as of last day of 2024 | $927,227 |
| Add/subtract change in fair value from last day of prior year to last day of 2024 of any awards granted in prior years that are outstanding and unvested as of last day of 2024 | $1,264,672 |
| Add/subtract the amount of change in fair value from last day of prior year to the vesting date for awards granted in prior years that vested in 2024. | $133,433 |
| Subtract the amount of fair value at the end of the prior fiscal year for awards granted in prior years that forfeited during 2024. | $(357) |
| Compensation Actually Paid to non-PEO NEOs | $3,289,391 |
(4)Peer Group Total Shareholder Return is calculated based on the S&P 1500 Human Resource & Employment Services Index, a published industry index that is considered reflective of the Company's peers, for each respective year shown in the table, assuming an initial investment of $100 on December 31, 2019.
(5)Reflects after-tax net income prepared in accordance with GAAP for each of the years shown.
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(6)Gross billings is the financial measure in the Company’s assessment that represents the most important performance measure used to link Company performance to compensation actually paid to our PEOs and other NEOs, as it is the primary metric used in understanding the volume of the Company's business and serves as an important performance metric in managing the Company's operations, including the preparation of internal operating forecasts and establishing executive compensation performance goals. We calculate gross billings by including direct payroll costs that would otherwise be excluded from professional employer organization revenue because we are not the primary obligor for wage payments to our clients' employees.
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