Power REIT
For the period ended Aug 30, 2024. Filed Aug 30, 2024.
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Aug 30, 2024 · Filed Aug 30, 2024
Contents
Pay Versus Performance Table
The following table sets forth additional compensation information for our CEO and our other Named Executives (Other NEOs) (averaged) along with total shareholder return and net income performance results for fiscal 2021, 2022 and 2023.
| Year | Summary Compensation Table Total for David H. Lesser ($)1 | Compensation Actually Paid to David H. Lesser ($)1,2 | Average Summary Compensation Table Total for Non-CEO NEOs ($)1 | Average Compensation Actually Paid to Non-CEO NEOs ($)1,2 | Value of initial fixed $100 investment based on total shareholder return ($)3 | Net Income (in millions) ($) |
|---|---|---|---|---|---|---|
| 2023 | 150,000 | (61,583) | 66,000 | 58,056 | 2.43 | -14.4 |
| 2022 | 1,521,195 | (1,087,448) | 122,494 | 45,073 | 14.79 | -14.3 |
| 2021 | 743,600 | 2,281,968 | 18,590 | 44,243 | 257.92 | 5.1 |
| (1) | For 2021, 2022 and 2023 the CEO was David H. Lesser (Current CEO) and the sole Other NEO was Susan Hollander. |
| (2) | Compensation actually paid (“CAP”) was determined by making the following adjustments for equity awards: |
| 2023 | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
| CEO ($) | Average of Other NEOs ($) | CEO ($) | Average of Other NEOs ($) | CEO ($) | Average of Other NEOs ($) | |
| Summary Compensation Table (“SCT”) Total | 150,000 | 66,000 | 1,521,195 | 122,494 | 743,600 | 18,590 |
| Subtraction: | ||||||
| Grant date values as reported in SCT | — | — | (1,458,695) | (59,494) | (743,600) | (18,590) |
| Adjustments: | ||||||
| Addition: Fair value at year-end of awards granted during the covered fiscal year that are outstanding and unvested at year-end | — | — | 257,703 | 9,488 | 1,109,680 | 28,658 |
| Addition (Subtraction): Year-over-year change in fair value of awards granted in any prior fiscal year that are outstanding and unvested at year end | (155,189) | (5,836) | (612,774) | (20,651) | 562,512 | 8,520 |
| Addition (Subtraction): Fair values at vest date for awards granted and vested in current year | — | — | 170,071 | 6,892 | 178,381 | 3,850 |
| Addition (Subtraction): Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years | (56,394) | (2,108) | (964,949) | (13,657) | 431,394 | 3,215 |
| Compensation Actually Paid | (61,583) | 58,056 | (1,087,449) | 45,073 | 2,281,968 | 44,243 |
Summary Compensation Table amounts reflect the grant date fair values of equity awards. For CAP calculation purposes, adjustments have been made to reflect fair values as of each measurement date.
| (3) | Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. The Company has not paid dividends since 2013. |
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