Lightwave Logic, Inc.
For the period ended May 15, 2025. Filed Mar 28, 2025.
View on SEC.govAbout this filing
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.
May 15, 2025 · Filed Mar 28, 2025
Contents
Pay Versus Performance
Under rules adopted pursuant to the Dodd-Frank Act, we are required to disclose certain information about the relationship between the compensation actually paid to our named executive officers and certain measures of company performance.
The following tables provide information regarding compensation actually paid to our principal executive officers, or PEO, and other NEOs for each year from 2021 to 2024, compared to our total shareholder return (TSR) from December 31, 2020 through the end of each such year, and our net income for each such year.
| Value of Initial Fixed $100 Investment Based On: | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Year | Summary Compensation Table Total for | Compensation Actually Paid to | Summary Compensation Table Total for | Compensation Actually Paid to | Average Summary Compensation Table Total for Non-PEO named executive officers | Average Compensation Actually Paid for Non-PEO named executive officers | Total Shareholder Return ($) (6) | Solactive EPIC Core Photonic USD Index Total Shareholder Return ($) (7) | Net Loss ($) (8) | NASDAQ Composite Index Total Shareholder Return ($) (9) |
| PEO ($) (1) (2) (Michael Lebby) · PEO ($) (1) (3) · PEO ($) (1) (2) (Yves Le Maitre) · PEO ($) (1) (3) · NEO ($) (4) · NEO ($) (5) | ||||||||||
| 2024 | 832,095 | 806,186 | 626,873 | 508,597 | 550,702 | 514,333 | 226 | 90 | (22,535,041) | 150 |
| 2023 | 1,346,381 | 1,454,564 | — | — | 1,108,385 | 1,208,378 | 535 | 94 | (21,038,032) | 116 |
| 2022 | 1,459,996 | 200,166 | — | — | 1,216,991 | (7,379) | 463 | 84 | (17,230,480) | 81 |
| 2021 | 3,073,321 | 5,683,051 | — | — | 3,034,845 | 5,644,575 | 1,600 | 123 | (18,631,381) | 121 |
| (1) | Our PEO for 2021, 2022, 2023 and 2024 (through December 10) was Dr. Michael S. Lebby and Yves Le Maitre from December 11, 2024. |
| (2) | Represents the total compensation paid to our PEO in each listed year, as shown in our Summary Compensation Table for each listed year. |
| (3) | Represents the compensation actually paid to our PEO in each year listed. Compensation actually does not mean that our PEO was actually paid those amounts in the listed year. This dollar amount is derived from the starting point of Summary of Compensation Table total compensation under the methodology prescribed under the SEC’s rules, as shown in the table below: |
| PEO (Michael Lebby) | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Summary Compensation Table Total | $832,095 | $1,346,381 | $1,459,996 | $3,073,321 |
| Subtract grant date fair value of option awards and stock awards granted in fiscal year | (387,037) | (848,478) | (922,205) | (153,875) |
| Add fair value at fiscal year-end of outstanding and unvested option awards and stock awards granted in fiscal year | — | — | — | 2,188,521 |
| Adjust for change in fair value of outstanding and unvested option awards and stock awards granted in prior fiscal year | — | — | (319,842) | — |
| Add fair value at vesting of option awards and stock awards granted in fiscal year that vested during the year | 361,128 | 889,431 | 626,983 | 564,390 |
| Adjust for change in fair value as of vesting date of option awards and stock awards granted in prior fiscal years for which applicable vesting conditions were satisfied during the fiscal year | — | 67,230 | (644,766) | 10,694 |
| Subtract fair value as of prior fiscal year-end of option awards and stock awards granted in the prior fiscal years that failed to meet applicable vesting conditions during the fiscal year | — | — | — | — |
| Compensation actually paid | $806,186 | $1,454,564 | $200,166 | $5,683,051 |
| PEO (Yves Le Maitre) | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Summary Compensation Table Total | $626,873 | — | — | — |
| Subtract grant date fair value of option awards and stock awards granted in fiscal year | (591,446) | — | — | — |
| Add fair value at fiscal year-end of outstanding and unvested option awards and stock awards granted in fiscal year | 380,436 | — | — | — |
| Adjust for change in fair value of outstanding and unvested option awards and stock awards granted in prior fiscal year | — | — | — | — |
| Add fair value at vesting of option awards and stock awards granted in fiscal year that vested during the year | 92,734 | — | — | — |
| Adjust for change in fair value as of vesting date of option awards and stock awards granted in prior fiscal years for which applicable vesting conditions were satisfied during the fiscal year | — | — | — | — |
| Subtract fair value as of prior fiscal year-end of option awards and stock awards granted in the prior fiscal years that failed to meet applicable vesting conditions during the fiscal year | — | — | — | — |
| Compensation actually paid | $508,597 | — | — | — |
The assumptions used for determining the fair values of outstanding and unvested option awards shown in this table are different from those used to determine the fair values disclosed as of the grant date of such awards. The assumptions used for determining fair values shown in the table are:
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.