SOLITRON DEVICES INC
For the period ended Feb 28, 2026. Filed May 28, 2026.
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FY2026 · Filed May 28, 2026
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Item 11. Executive Compensation
Summary Compensation Table
The following table provides certain summary information concerning compensation paid by the Company, to or on behalf of the following named executive officer for the fiscal years ended February 28, 2026 and February 28, 2025.
| All Other | ||||||||
|---|---|---|---|---|---|---|---|---|
| Name and Principal Position · Year · Salary · Bonus · Stock Awards · Compensation · Total | ||||||||
| Tim Eriksen, CEO (1) | 2026 | $100,000 | $ | - | 32,200 | 17,239 | (2) | $149,439 |
| 2025 | 100,000 | - | - | 16,986 | 116,986 | |||
| Mark Matson, President, COO (3) | 2026 | 373,846 | 25,000 | 32,200 | 247,391 | (4) | 678,437 | |
| 2025 | 285,000 | - | - | 140,214 | (4) | 425,214 | ||
| Carolyn Campbell, CFO (5) | 2026 | 193,077 | 10,000 | 32,200 | 8,008 | (6) | 243,285 | |
| 2025 | 81,827 | - | - | 3,477 | (6) | 85,304 | ||
| (1) | On February 19, 2024, the Company increased Mr. Eriksen’s base salary to $100,000 effective March 1, 2024. On August 13, 2025, the Company granted Mr. Eriksen 2,000 shares of common stock that were immediately vested (valued at $32,200 based on the $16.10 closing price of the common stock on the date of the grant). Shares were issued under the 2019 Stock Incentive Plan. |
| (2) | Represents medical insurance premiums. |
| (3) | On August 13, 2025, the Company granted Mr. Matson a discretionary bonus of $25,000, 2,000 shares of common stock that were immediately vested (valued at $32,200 based on the $16.10 closing price of the common stock on the date of the grant). Shares were issued under the 2019 Stock Incentive Plan. In addition, under the terms of the updated employment agreement with Mr. Matson entered into as of August 13, 2025, Mr. Matson’s salary was increased from $285,000 to $450,000 effective immediately. |
| (4) | Represents life, disability and medical insurance premiums, personal auto expenses, cell phone and a pay out of unused personal time off (PTO). In addition, under the terms of the updated employment agreement with Mr. Matson entered into as of August 13, 2025, Mr. Matson also was given the right to purchase up to 50,000 shares of Company common stock for $14.50 per share within 90 days after the effective date of the new employment agreement and 5,000 shares within 30 days after the end of each quarter based on the weighted average share price during the quarter. The difference between the market value of the shares based on the employment agreement terms and the closing price on the date the shares were acquired amounted to $207,963. For the year ended February 28, 2026, life, disability and medical insurance premiums were $13,327, car expenses were $23,235 and cell phone was $2,866. For the year ended February 28, 2025, life, disability and medical insurance premiums were $12,880, housing allocation was $8,400, car expenses were $22,489, cell phone was $2,742 and the payout of unused PTO was $93,703. |
| (5) | On August 13, 2025, the Company granted Ms. Campbell a discretionary bonus of $10,000, 2,000 shares of common stock that were immediately vested (valued at $32,200 based on the $16.10 closing price of the common stock on the date of the grant) and increased her salary from $185,000 to $200,000 effective immediately. Shares were issued under the 2019 Stock Incentive Plan. The salary shown represents base salary received for the year ended February 28, 2026. |
| (6) | Represents life, disability and medical insurance premiums. |
Director Compensation
The following table sets forth information regarding the compensation of our non-employee directors for the fiscal year ended February 28, 2026.
| Fees earned or | ||||
|---|---|---|---|---|
| Name and Principal Position | Year | paid in cash | Stock Awards | Total |
| David W. Pointer, Chairman | 2026 | $40,000 | $32,200 | $72,200 |
| Dwight P. Aubrey, Director | 2026 | 28,000 | 32,200 | 60,200 |
| John F. Chiste, Director | 2026 | 30,000 | 32,200 | 62,200 |
| Charles M. Gillman, Director | 2026 | 24,000 | 32,200 | 56,200 |
On February 19, 2024, the Company modified the compensation for directors, effective March 1, 2024. Chairman David Pointer’s annual cash compensation was increased to $40,000. Audit Committee Chairman John Chiste’s annual cash compensation was increased to $30,000. Compensation Committee Chairman Dwight Aubrey’s annual compensation was increased to $28,000. Nominating Committee Chairman Charles Gillman’s annual compensation was increased to $24,000. Payments for each quarter are paid in advance. All out-of-pocket expenses incurred by a director for attending Board or committee meetings are reimbursed by the Company. Mr. Eriksen does not receive any additional compensation as a director.
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