SRM Entertainment Inc
For the period ended Nov 20, 2024. Filed Nov 20, 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.
Nov 20, 2024 · Filed Nov 20, 2024
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Contents
Pay Versus Performance
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, and Item 402(v) of Regulation S-K, which was adopted by the SEC in 2022, we are providing the following information regarding the relationship between “compensation actually paid” (“CAP”) to our principal executive officer (“PEO”), and non-PEO named executive officers (“NEOs”) and certain financial performance of the Company for the fiscal years listed below.
| Richard Miller – PEO · Non PEO NEOs · Value of Initial Fixed $100 Investment based | ||||||
|---|---|---|---|---|---|---|
| Fiscal Year | Summary Compensation Table Total(1) | Compensation Actually Paid(2) | Average Summary Compensation Table Total(3) | Average Compensation Actually Paid(4) | on Total Shareholder Return (“TSR”)(5) | Net Loss |
| 2023 | $250,000 | $250,000 | $142,203 | $142,203 | $31.12 | $(2,053,859) |
| (1) | Represent the amounts of total compensation reported for our PEO during each corresponding year in the “Total” column of the Summary Compensation Table above. |
| (2) | Represents the amount of “compensation actually paid” to our PEO, as computed in accordance with Item 402(v) of Regulation S-K, with the following adjustments: |
| Fiscal Year | Summary compensation table total for Richard Miller (S) | Reported value of equity awards for Richard Miller ($) | Fair value as of year-end for awards granted during the year ($) | Fair value year-over-year increase or decrease in unvested awards granted in prior years ($) | Fair value of awards granted and vested during the year ($) | Fair value increase or decrease from prior year end for awards that vested during the year ($) | Compensation actually paid to Richard Miller ($) |
|---|---|---|---|---|---|---|---|
| 2023 | $250,000 | — | — | — | — | — | $250,000 |
| (3) | Represents the average of the amounts reported for our NEOs as a group (excluding our PEO) in each applicable year in the “Total” column of the Summary Compensation Table above. For fiscal 2023, this includes Douglas O. McKinnon, Taft Flitner, and Deborah McDaniel-Hand (the “Non-PEO NEOs”). |
| (4) | Represents the average amount of “compensation actually paid” to the Non-PEO NEOs, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average compensation earned or paid to the Non-PEO NEOs during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the Non-PEO NEOs for each year: |
| Fiscal Year · Average summary compensation table total for Non-PEO NEOs ($) · Reported value of equity awards for NEOs ($) · Fair value as of year-end for awards granted during the year ($) · Fair value year-over-year increase or decrease in unvested awards granted in prior years ($) · Fair value of awards granted and vested during the year ($) · Fair value increase or decrease from prior year end for awards that vested during the year ($) · Average compensation actually paid to Non-PEO NEOs ($) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | $142,203 | $ | - | $ | - | $ | - | $ | - | $ | - | $142,203 |
| (5) | TSR is cumulative for the measurement periods beginning on August 15, 2023 (the initial day of trading following the pricing of our initial public offering) and ending on December 31, 2023, calculated by dividing the difference between our share price at the end and the beginning of the measurement period by our share price at the end of the measurement period. No dividends were paid in fiscal 2023. |
| (6) | The dollar amounts reported represent the amount of net loss reflected in our consolidated audited financial statements for the applicable years. |
| The illustrations below provide an additional graphical description of CAP compared to both our cumulative TSR and our net loss. As the illustrations show, the compensation actually paid to our PEO and Former PEO and the average amount of compensation actually paid to our non-PEO NEOs during the periods presented are not directly correlated with TSR. We do utilize several performance measures to align executive compensation with our performance, but those tend not to be financial performance measures, such as TSR. Compensation actually paid is influenced by numerous factors including, but not limited to, the timing of new grant issuances and award vesting, NEO mix, share-price volatility during the fiscal year, our mix of performance metrics and other factors. |
The illustration below compares our cumulative TSR over the period from our initial public offering date to December 31, 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.