NORTECH SYSTEMS INC
For the period ended May 15, 2024. Filed Apr 3, 2024.
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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.
May 15, 2024 · Filed Apr 3, 2024
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Contents
PAY VERSUS PERFORMANCE
| Year · Summary Compensation Table for PEO(1) · Compensation Actually Paid to PEO(1) · Average Summary Compensation Table Total for Non-PEO NEOs(2) · Average Compensation Actually Paid to Non-PEO NEOs(2) · Value of Initial Fixed $100 Investment Based On Total Shareholder Return · Net Income | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2023 | $819,520 | $679,254 | (3) | $309,023 | $229,201 | (4) | $131.38 | $6,874,000 |
| 2022 | $1,030,477 | $921,107 | (5) | $431,513 | $403,337 | (6) | $170.85 | $2,010,000 |
| 2021 | $525,805 | $793,321 | (7) | $294,886 | $372,382 | (8) | $144.35 | $7,154,000 |
| (1) | The PEO listed in the table for all years presented includes Jay D. Miller, Chief Executive Officer. |
| (2) | The Non-PEO NEOs listed in the table for all years presented include: John Lindeen and Christopher Jones as well as Andrew D. C. LaFrence in 2023. |
| (3) | The calculation of Compensation Actually Paid (CAP) includes the following adjustments: deduction of decrease in the fair value at the end of the year from the prior year end for Option Awards granted in prior years that are outstanding and unvested as of the end of the year, ($182,018); and addition of increase in the fair value at the vesting date from the prior year end for Option Awards granted in prior years that vested in the year, $41,751. |
| (4) | The calculation of Compensation Actually Paid (CAP) includes the following adjustments: subtraction for values reported in the Option Awards column of the Summary Compensation table, ($77,784); addition of year-end fair value for Option Awards granted during the year that are outstanding and unvested as of the end of the year, $81,603; deduction of decrease in the fair value at the end of the year from the prior year end for Option Awards granted in prior years that are outstanding and unvested as of the end of the year, ($6,004); deduction of decrease in the fair value at the vesting date from the prior year end for Option Awards granted in prior years that vested in the year, ($1,496) and subtraction of fair value as of prior fiscal year end of stock awards granted in prior fiscal years that failed to meet applicable vesting conditions during the covered fiscal year, (76,141). |
| (5) | The calculation of Compensation Actually Paid (CAP) includes the following adjustments: subtraction for values reported in the Option Awards column of the Summary Compensation table, ($249,947); addition of year-end fair value for Option Awards granted during the year that are outstanding and unvested as of the end of the year, $61,556; addition of increase in the fair value at the end of the year from the prior year end for Option Awards granted in prior years that are outstanding and unvested as of the end of the year, $77,009; addition of increase in the fair value at the vesting date from the prior year end for Option Awards granted in prior years that vested in the year, $2,012. |
| (6) | The calculation of CAP includes the following adjustments: subtraction for values reported in the Option Awards column of the Summary Compensation table, ($63,563); addition of year-end fair value for Option Awards granted during the year that are outstanding and unvested as of the end of the year, $5,710; addition of increase in the fair value at the end of the year from the prior year end for Option Awards granted in prior years that are outstanding and unvested as of the end of the year, $18,725; ; addition of increase in the fair value at the vesting date from the prior year end for Option Awards granted in prior years that vested in the year, $10,952. |
| (7) | The calculation of CAP includes the following adjustments: subtraction for values reported in the Option Awards column of the Summary Compensation table, $0; addition of year-end fair value for Option Awards granted during the year that are outstanding and unvested as of the end of the year, $0; addition of increase in the fair value at the end of the year from the prior year end for Option Awards granted in prior years that are outstanding and unvested as of the end of the year, $246,055; addition of increase in the fair value at the vesting date from the prior year end for Option Awards granted in prior years that vested in the year, $21,462. |
| (8) | The calculation of CAP includes the following adjustments: subtraction for values reported in the Option Awards column of the Summary Compensation table, $0; addition of year-end fair value for Option Awards granted during the year that are outstanding and unvested as of the end of the year, $0; addition of increase in the fair value at the end of the year from the prior year end for Option Awards granted in prior years that are outstanding and unvested as of the end of the year, $66,763; addition of increase in the fair value at the vesting date from the prior year end for Option Awards granted in prior years that vested in the year, $10,734. |
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