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
Summary Compensation Table
The following table sets forth information regarding compensation received by each individual who served as an executive officer of the Company during 2024.
| Name and Principal Position | Year | Salary | Bonus(1) | Stock Awards(2) | Stock Options(3) | Non-EquityIncentive PlanCompensation(4) | All OtherCompensation(5) | TotalCompensation |
|---|---|---|---|---|---|---|---|---|
| Gary E. Kramer | 2024 | $847,115 | $171,200 | $2,318,580 | $— | $906,288 | $74,229 | $4,317,412 |
| President and Chief | 2023 | $814,115 | $205,750 | $1,926,165 | $— | $735,356 | $106,230 | $3,787,616 |
| Executive Officer | 2022 | $782,304 | $197,500 | $2,049,915 | $— | $1,154,398 | $33,287 | $4,217,404 |
| Anthony J. Harris | 2024 | $475,577 | $77,600 | $614,590 | $419,385 | $410,794 | $13,800 | $2,011,746 |
| Chief Financial | 2023 | $436,538 | $90,000 | $569,951 | $— | $321,662 | $26,149 | $1,444,300 |
| Officer | 2022 | $393,365 | $80,000 | $564,715 | $— | $467,604 | $12,200 | $1,517,884 |
| Gerald R. Blotz | 2024 | $553,269 | $89,600 | $691,872 | $— | $474,319 | $37,250 | $1,846,310 |
| Chief Operating | 2023 | $530,961 | $107,000 | $615,231 | $— | $382,421 | $33,800 | $1,669,413 |
| Officer | 2022 | $514,692 | $104,000 | $675,946 | $— | $607,886 | $12,200 | $1,914,724 |
| James R. Potts | 2024 | $369,615 | $60,000 | $407,464 | $— | $317,624 | $13,800 | $1,168,503 |
| General Counsel | 2023 | $350,962 | $71,000 | $379,927 | $— | $253,756 | $13,200 | $1,068,845 |
| and Secretary | 2022 | $336,019 | $68,000 | $458,612 | $— | $397,464 | $12,200 | $1,272,295 |
(1)The amounts shown represent cash bonuses awarded based on each officer’s individual performance by the Compensation Committee. Additional information regarding the Company's annual cash bonus program appears under the subheading "Compensation Discussion and Analysis" above.
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(2)The amounts shown include the grant date fair value of RSUs granted to executive officers under the 2020 Stock Plan using the closing price of the Common Stock on the grant date. Both grants of RSUs, and RSUs awarded as a matching contribution under the Company’s nonqualified deferred compensation plan, are included. Assumptions regarding forfeitures are ignored. Each RSU represents a contingent right to receive one share of Common Stock. Additional details regarding the terms of the RSU awards are described below under "Incentive Compensation." Additionally, the amounts shown include the grant date fair value of awards of PSUs in 2022, 2023 and 2024 under the 2020 Stock Plan that reflect the probable outcome with respect to target levels of performance conditions as of the date of grant of 100% for the 2022 awards, and 50% for the 2023 and 2024 awards. The value of the 2024 PSUs at the grant date, assuming the highest level of achievement, is as follows: Mr. Kramer, $2,996,000; Mr. Harris, $630,500; Mr. Blotz, $896,000; and Mr. Potts, $337,500.
(3)The amount shown represents the grant date fair value of employee stock options under the Company's 2020 Stock Plan. The actual value to be received pursuant to the option awards is dependent on the appreciation in our stock price prior to the exercise or expiration of the options. Additional details regarding the terms of outstanding stock options held by the named executive officers are described below under "Incentive Compensation." The fair value of stock option awards as determined under the Black-Scholes option-pricing model was estimated using the following weighted-average assumptions (assumptions regarding forfeitures are ignored):
| 2024 | |
|---|---|
| Expected volatility | 24.4% |
| Risk free interest rate | 4.2% |
| Expected dividend yield | 0.7% |
| Expected term | 5 |
| Weighted average fair value per share | $12.16 |
(4)Amounts shown represent performance-based cash bonuses earned pursuant to the Company's Annual Incentive Plan during the years shown. Additional information regarding awards under the program appears under the subheadings "Compensation Discussion and Analysis" above and "Incentive Compensation" below.
(5)Amounts shown for 2024 include employer contributions to the 401(k) plan of $13,800 for each executive officer. Amounts also include the incremental cost to the Company of personal use of the corporate aircraft by Mr. Kramer and club membership dues for Mr. Kramer and Mr. Blotz, the primary purpose of which was business. The incremental cost to the Company of personal use of the corporate aircraft by Mr. Kramer, $49,393, was calculated using the variable costs of operating the aircraft, such as fuel, trip-related maintenance, crew travel expenses, landing fees, and other miscellaneous variable costs. Mr. Harris and Mr. Potts did not receive perquisites or other personal benefits with a total value exceeding $10,000 during 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.