Royale Energy Inc
For the period ended Dec 31, 2023. Filed Apr 12, 2024.
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FY2023 · Filed Apr 12, 2024
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Item 11. Executive Compensation
The following table summarizes the compensation of the chief executive officer, chief financial officer and the one other most highly compensated non-executive employee of Royale and its subsidiaries during the past three years.
SUMMARY COMPENSATION TABLE
| Year · Salary (3) · Bonus · Option Awards · All Other Compensation (1) · Total | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Johnny Jordan (2)(3)(4) | 2023 | $255,769 | $ | - | $ | - | $11,328 | $267,097 | |
| (CEO) | 2022 | $255,769 | $ | - | $ | - | $9,327 | $265,096 | |
| Donald Hosmer | 2023 | $185,175 | $84,475 | $ | - | $18,930 | $288,580 | ||
| (Business Development) | 2022 | $191,925 | $102,975 | $ | - | $19,032 | $313,932 | ||
| Stephen Hosmer (5) | 2023 | $ | - | $ | - | $ | - | $40,900 | $40,900 |
| (Former CFO) | 2022 | $67,210 | $ | - | $ | - | $58,355 | $125,656 | |
| Ronald Lipnick | 2023 | $194,654 | $10,500 | $ | - | $5,840 | $210,994 | ||
| (CFO) | 2022 | $181,654 | $15,000 | $ | - | $6,017 | $202,671 | ||
(1) All other compensation consists of matching contributions to the Company’s simple IRA plan, except for Donald H. Hosmer, who also received a $12,000 car allowance.
(2) Salary represents either direct payroll or common stock paid in lieu of taking a cash salary.
(3) Mr. Jordan became CEO of the Company in January 2019. Mr. Jordan joined the Company upon the merger with the Matrix entities on March 7, 2018.
(4) There was no compensation paid to Mr. Johnny Jordan for performance (Pay Versus Performance).
(5) Includes 6,000 shares owned by Stephen M. Hosmer's minor children.
In 2023, Johnny Jordan received a salary of $255,769. He did not receive any bonus or option awards. His additional compensation amounted to $11,328, resulting in a total compensation of $267,097. In 2022, his salary remained the same at $255,769. There were no bonuses or option awards, but he received additional compensation of $9,327, bringing his total compensation to $265,096.
For 2023, Donald Hosmer’s salary was $185,175. He received a bonus of $84,475 but no option awards. His additional compensation was $18,930, resulting in a total compensation of $288,580. In 2022, his salary was $191,925, with a bonus of $102,975. Like 2023, there were no option awards, but his additional compensation amounted to $19,032, resulting in a total compensation of $313,932.
Ronald Lipnick’s 2023 salary was $194,654. He received a bonus of $10,500 and no option awards. His additional compensation was $5,840, resulting in a total compensation of $210,994. In 2022, his salary was $181,654, with a bonus of $15,000. There were no option awards, but his additional compensation amounted to $6,017, resulting in a total compensation of $202,671.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.