RGC RESOURCES INC
For the period ended Jan 27, 2025. Filed Dec 5, 2024.
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.
Jan 27, 2025 · Filed Dec 5, 2024
RGCO$23.19+0.2%Stored close · as of Nov 6, 2026
Contents
Pay Versus Performance
| Year | Summary Compensation Table Total for PEO1 | Compensation Actually Paid to PEO1,2 | Average Summary Compensation Table Total for Non-PEO Named Executive Officers1 | Average Compensation Actually Paid to Non-PEO Named Executive Officers1,2 | Value of Initial $100 Investment Based on Total Shareholder Return3 | Net Income |
|---|---|---|---|---|---|---|
| $1,061,983 | $1,219,062 | $643,864 | $708,681 | $112.54 | $11,760,896 | |
| 2023 | 1,054,041 | 1,050,564 | 490,270 | 489,644 | 82.75 | 11,299,282 |
| 2022 | 588,350 | 598,562 | 302,502 | 300,780 | 97.02 | (31,732,602) |
| 1 | Paul Nester was Chief Executive Officer for all three years. C. James Shockley, Jr. and Lawrence T. Oliver were the other NEOs for all three years. |
| 2 | SEC rules require certain adjustments be made to the Summary Compensation Table (SCT) totals to determine “Compensation Actually Paid” as reported in the Pay Versus Performance Table. Adjustments to the SCT total compensation by year to calculate Compensation Actually Paid for our PEO and the Average Compensation Actually Paid to our Non-PEO NEOs are set forth in the table below. |
| PEO | Average Non-PEO | |||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | 2024 | 2023 | 2022 | |
| SCT Total | $1,061,983 | $1,054,041 | $588,350 | $$ 643,864 | $490,270 | $302,502 |
| Stock Awards per SCT | (274,500) | (321,300) | — | (105,394) | (111,535) | — |
| Option Awards per SCT | — | — | — | (12,875) | — | (5,390) |
| Fair value of awards in CY that remain unvested | 274,500 | 321,300 | — | 105,394 | 111,535 | — |
| Change in fair value of PY awards that are outstanding and unvested | 99,328 | (16,495) | (9,241) | 34,477 | (5,960) | (2,110) |
| Change in fair value of PY awards that vested during the year | 45,806 | 8,217 | 9,226 | 39,056 | 3,634 | 2,279 |
| Dividend or other earnings paid during the year prior to vesting | 11,945 | 4,801 | 10,227 | 4,159 | 1,700 | 3,499 |
| Compensation Actually Paid Total | $1,219,062 | $1,050,564 | $598,562 | $708,681 | $489,644 | $300,780 |
| 3 | Assumes $100 invested on October 1, 2021, the first day of the Company's fiscal 2022 year. |
The Company recorded after-tax impairment charges of its investment in MVP during 2022 totaling $40.9 million, resulting in a $31.7 million net loss. As a result, the PEO and non-PEO's did not earn and were not awarded cash or equity incentives related to earnings for 2022.
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