TOFUTTI BRANDS INC
For the period ended Dec 30, 2023. Filed Apr 3, 2024.
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FY2023 · Filed Apr 3, 2024
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Item 11. Executive Compensation
| Item 11. | Executive Compensation. |
|---|
The following table sets forth information concerning the total compensation during the last three fiscal years for our named executive officers whose total salary in fiscal 2023 totaled $100,000 or more:
Summary Compensation Table
| Name and Principal Position | Fiscal Year | Salary ($) | Bonus ($) | Stock Awards ($) | Option Awards ($) | Non-Equity Incentive Plan Compensation ($) | All Other Compensation ($) | Total($) |
|---|---|---|---|---|---|---|---|---|
| Steven Kass | 2023 | 200,000 | — | — | — | — | — | 200,000 |
| Chief Executive and Financial Officer* | 2022 | 200,000 | — | — | 32,183 | — | — | 232,183 |
- Mr. Kass was appointed Chief Executive Officer in April 2021.
The aggregate value of all other perquisites and other personal benefits furnished to these executive officers was less than $10,000 in both the 2023 and 2022 fiscal years.
Employment Agreements
We do not currently have any employment agreements with our executive officers. We do not anticipate having employment contracts with executive officers and key personnel in the future.
Grants of Plan-Based Awards for Fiscal 2023
During the fiscal year ended December 30, 2023, no options were granted under our 2014 Equity Incentive Plan.
Outstanding Equity Awards at Fiscal Year End
As of December 30, 2023 there were 250,000 outstanding equity awards.
Director Compensation
Our non-employee directors earned director compensation in fiscal year ended December 30, 2023 based on the number of meetings attended. The chairman of the audit committee receives $3,000 per audit committee meeting and other members of the audit committee receive $2,000 per meeting attended. All other non-employee directors are entitled to $500 per meeting attended.
The following table sets forth the compensation received by each of the Company’s non-employee directors for the year ended December 30, 2023. Each non-employee director is deemed to be independent under the Exchange Act Rule 10A-3.
| Name | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Option Awards ($) | Non-Equity Incentive Plan Compensation ($) | Nonqualified Deferred Compensation ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|---|---|
| Joseph N. Himy | 3,000 | — | — | — | — | — | 3,000 |
| Scott Korman | 24,000 | — | — | — | — | — | 24,000 |
| Efraim Mintz | 14,000 | — | — | — | — | — | 14,000 |
| Franklyn Snitow | 12,000 | — | — | — | — | — | 12,000 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.