GREYSTONE LOGISTICS INC
For the period ended May 31, 2024. Filed Sep 13, 2024.
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FY2024 · Filed Sep 13, 2024
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Item 11. Executive Compensation
The following table sets forth the compensation paid to named executive officers during the fiscal years ended May 31, 2024 and 2023:
Summary Compensation Table
| Name and Principal Position · Fiscal Year Ended May 31, · Salary · Bonus · Option Awards · Nonqualified Deferred Compensation Earnings · All Other Compensation · Total | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Warren F. Kruger, | 2024 | $397,500 | $20,000 | $ | - | $ | - | $13,200 | $430,700 |
| President and Chief Executive Officer | 2023 | $410,000 | $155,000 | $ | - | $ | - | $12,852 | $577,852 |
| William Rahhal, | 2024 | $132,884 | $10,000 | $ | - | $ | - | $4,316 | $147,200 |
| Chief Financial Officer | 2023 | $200,000 | $75,000 | $ | - | $ | - | $6,389 | $281,389 |
(1): Includes payroll through 1/31/2024
Outstanding Equity Awards at Fiscal Year End
None.
Directors’** Compensation**
Greystone pays compensation to members of the Board of Directors in the amount of $12,500 per meeting attended. The following table sets forth compensation paid, earned or awarded during the fiscal year ended May 31, 2024 to each of our directors, whose compensation is described above in the “2024 Summary Compensation Table.”
| Name · Fees Earned or Paid in Cash · Stock Awards · All Other Compensation · Total | ||||||
|---|---|---|---|---|---|---|
| Larry J. LeBarre | $37,500 | $ | - | $ | - | $37,500 |
| Robert B. Rosene, Jr. | $37,500 | $ | - | $ | - | $37,500 |
| Drew T. Lockard | $37,500 | $ | - | $ | - | $37,500 |
Because the Board of Directors consists of four persons of which three are outside directors, the Board has not considered it necessary to create a compensation committee. All of Greystone’s directors participate in determining compensation for officers with Mr. Kruger abstaining from any discussions concerning his compensation.
Compensation Program as it Relates to Risk
We have reviewed our compensation policies and practices for both executives and non-executives as they relate to risk and have determined that at this time they are not reasonably likely to have a material adverse effect on us.
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