Co-Diagnostics Inc
For the period ended Jul 16, 2024. Filed Jul 16, 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.
Jul 16, 2024 · Filed Jul 16, 2024
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Contents
Pay versus Performance
In accordance with rules adopted by the Securities and Exchange Commission (“SEC”) pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive “Compensation Actually Paid” (“CAP”) and certain performance measures required for Smaller Reporting Companies. The following table provides the information required for our NEOs for each of the fiscal years ended December 31, 2023 and December 31, 2022, along with the financial information required for each fiscal year:
| Year | Summary compensation table total CEO ($)(1)(2) | Compensation actually paid to CEO ($)(1)(3) | Average summary compensation table total for non-CEO NEOs ($)(2)(4) | Average compensation actually paid to non-CEO NEOs ($)(3)(4) | Value of Initial Fixed $100 Investment based on Total shareholder return ($) | Net Income (in millions) ($) |
|---|---|---|---|---|---|---|
| 2023 | 1,261,300 | 579,599 | 1,040,473 | 492,073 | 14.89 | (35) |
| 2022 | 1,967,141 | 371,557 | 1,577,772 | 399,514 | 28.22 | (14) |
| (1) | For each year shown the CEO was Dwight Egan. |
| (2) | Amounts in this column represent the “Total” column set forth above in the Summary Compensation Table (“SCT”). See the footnotes to the SCT for further detail regarding the amounts in these columns. |
| (3) | The dollar amounts reported in these columns represent the amounts of “compensation actually paid.” The Amounts are computed in accordance with Item 402(v) of Regulation S-K by deducting and adding the following amounts from the “Total” column of the SCT (pursuant to SEC rules, fair value at each measurement date is computed in a manner consistent with the fair value methodology used to account for share-based payments in our financial statements under GAAP). |
| (4) | Non-CEO NEOs reflect the compensation of Brian Brown, CFO, who was the only Non-CEO NEO for the periods indicated. |
| 2023 · 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Dwight Egan · Average Non-CEO NEOs · Dwight Egan · Average Non-CEO NEOs | ||||||||
| Total Compensation from Summary Compensation Table | $1,261,300 | $1,040,473 | $1,967,141 | $1,577,772 | ||||
| Adjustments for Equity Awards | ||||||||
| Adjustment for grant date values in the Summary Compensation Table | $(845,550) | $(701,550) | $(1,454,750) | $(1,190,250) | ||||
| Year-end fair value of unvested awards granted in the current year | $442,225 | $364,642 | $577,501 | $472,500 | ||||
| Year-over-year difference of year-end fair values for unvested awards granted in prior years | $(188,416) | $(153,709) | $(560,875) | $(384,600) | ||||
| Fair values at vest date for awards granted and vested in current year | $115,083 | $95,458 | $157,207 | $128,625 | ||||
| Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years | $(205,043) | $(153,241) | $(314,667) | $(204,533) | ||||
| Forfeitures during current year equal to prior year-end fair value | $ | - | $ | - | $ | - | $ | - |
| Dividends or dividend equivalents not otherwise included in total compensation | $ | - | $ | - | $ | - | $ | - |
| Total Adjustments for Equity Awards | $(681,701) | $(548,400) | $(1,595,584) | $(1,178,258) | ||||
| Compensation Actually Paid (as calculated) | $579,599 | $492,073 | $371,557 | $399,514 | ||||
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