The following table sets forth information concerning Fiscal 2024, 2023, and 2022 compensation of our named executive officers.
| Name & Principal Position | | | Fiscal Year | | | Salary(1) | | | Bonus(2) | | | Stock Awards(3) | | | Options Awards(3) | | | Non-Equity Incentive Plan Compensation(4) | | | All Other Compensation(5) | | | Total |
|---|
| Selwyn JoffeChairman of the Board,President and CEO | | | 2024 | | | $828,256 | | | $100 | | | $588,269 | | | $313,875 | | | $745,430 | | | $50,132 | | | $2,526,062 |
|---|
| | 2023 | | | 828,256 | | | 100 | | | 1,909,131 | | | — | | | — | | | 93,264 | | | 2,830,752 | |
|---|
| | 2022 | | | 809,722 | | | 100 | | | 2,396,227 | | | — | | | 1,011,408 | | | 117,191 | | | 4,334,649 | |
|---|
| David LeeChief Financial Officer | | | 2024 | | | $361,746 | | | $100 | | | $219,687 | | | $78,375 | | | $149,220 | | | $41,323 | | | $850,451 |
|---|
| | 2023 | | | 361,746 | | | 100 | | | 338,649 | | | — | | | — | | | 83,874 | | | 784,370 | |
|---|
| | 2022 | | | 334,913 | | | 100 | | | 353,117 | | | — | | | 200,200 | | | 76,857 | | | 965,188 | |
|---|
| Doug SchoonerChief Manufacturing Officer, SVP, OperationsUnder-the-Car Product Lines | | | 2024 | | | $424,570 | | | $100 | | | $85,433 | | | $— | | | $111,450 | | | $41,613 | | | $663,166 |
|---|
| | 2023 | | | 423,628 | | | 100 | | | 128,594 | | | — | | | — | | | 85,513 | | | 637,835 | |
|---|
| | 2022 | | | 404,427 | | | 100 | | | 192,950 | | | — | | | 145,411 | | | 78,935 | | | 821,824 | |
|---|
| Kamlesh ShahChief Accounting Officer | | | 2024 | | | $300,446 | | | $100 | | | $109,842 | | | $17,625 | | | $90,134 | | | $29,089 | | | $547,236 |
|---|
| Juliet StoneVice President, Secretary and General Counsel | | | 2024 | | | $344,500 | | | $100 | | | $146,457 | | | $— | | | $103,350 | | | $41,243 | | | $635,650 |
|---|
| | 2023 | | | 344,500 | | | 100 | | | 210,026 | | | — | | | — | | | 90,390 | | | 645,016 | |
|---|
| | 2022 | | | 327,250 | | | 100 | | | 186,264 | | | — | | | 102,763 | | | 84,614 | | | 700,991 | |
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| (1) | Salaries reflect actual amounts earned and paid with respect to services in Fiscal 2024. Mr. Joffe’s salary includes $24,000 to pay for disability insurance, as discussed in his CEO Employment Agreement. |
| (2) | Amounts in the “Bonus” column include a $100 bonus paid to each of the Company’s employees during December of each year, including the named executive officers, as a holiday gift to buy groceries. |
| (3) | Amounts for 2024 reflect the grant date fair value of PSUs awarded in Fiscal 2024 to each named executive officer (and, with respect to Mr. Joffe, Mr. Lee and Mr. Shah, stock options), each calculated in accordance with FASB ASC Topic 718, rather than the amounts paid to or realized by the named executive officer. The PSUs are subject to market conditions. With respect to the market conditions relative to the PSUs, the amounts in the table represent the grant date fair value calculated using a Monte Carlo simulation. We provide information regarding the assumptions used to calculate the value of stock awards and stock options made to the named executive officers in Notes 2 and 18 to the Company’s consolidated financial statements contained in its Annual Report on Form 10-K filed on June 11, 2024. For more detail on these awards, see “Compensation Discussion and Analysis—Determining Executive Compensation—Equity-Based Incentive Programs.” |
| (4) | Additionally, for Fiscal 2024, our Compensation Committee removed the individual performance component such that 100% of each named executive officers’ target cash-based incentive award opportunity was based solely on corporate objectives. Each of these measures is contained in the Company’s 8-K filing, of the press release to our earnings release made on June 11, 2024. |
| (5) | The following chart is a summary of the items that are included in the “All Other Compensation” totals for Fiscal 2024: |
| Name | | | AutomobileExpenses | | | InsurancePremiums(1) | | | 401KEmployer'sContribution | | | DeferredCompensationPlanEmployer'sContribution | | | Total |
|---|
| Selwyn Joffe | | | $18,000 | | | $26,315 | | | $3,906 | | | $1,911 | | | $50,132 |
|---|
| David Lee | | | $— | | | $39,653 | | | $1,670 | | | $— | | | $41,323 |
|---|
| Doug Schooner | | | $— | | | $39,653 | | | $1,960 | | | $— | | | $41,613 |
|---|
| Kamlesh Shah | | | $— | | | $26,315 | | | $1,387 | | | $1,387 | | | $29,089 |
|---|
| Juliet Stone | | | $— | | | $39,653 | | | $1,590 | | | $— | | | $41,243 |
|---|
| (1) | For all our named executive officers, these premiums include premiums for health insurance. |
