| (1) | All option awards were valued using the Black-Scholes method. The options for 2024 were waived. |
| (2) | For Named Executive Officers, who are also Directors that receive compensation for their services as a Director, the Salary/Fees and Option Awards columns include compensation that was received by them for their role as a member of the Board of Directors. As is required by Regulation S-K, Item 402(c), compensation for services as a Director have been reported within the “Summary Compensation Table” (above) for fiscal years of 2024 and 2023 as well as reported separately in the “Compensation of Directors” section (see below) for calendar year 2024. |
Pursuant to his current employment agreement, Mr. Equels is entitled to 3% of the “Gross Proceeds” (as defined in the employment agreement) for “significant events” (as described in the employment agreement) There were no payments during 2024 and 2023.
Pursuant to his current employment agreement, Mr. Rodino is entitled to 1% of the “Gross Proceeds” (as defined in the employment agreement) for “significant events” (as described in the employment agreement) There were no payments during 2024 and 2023.
As part of our cash conservation strategy, we issued common stock as a substitute for cash salaries to certain Named Executive Officers. For the year ended December 31, 2024, stock issued as payroll totaled $250,000, which is included in the overall equity-based compensation expense. There was no stock issued as payroll for the year ended December 31, 2023.
| (3) | Mr. Equels’ All Other Compensations consists of: |
| 2024 | 2023 |
|---|
| Life & Disability Insurance | $41,073 | $41,073 |
|---|
| Healthcare Insurance | 26,619 | 24,316 |
|---|
| Car Expenses/Allowance | 18,000 | 18,000 |
|---|
| 401(k) Matching Funds | 20,700 | 19,800 |
|---|
| Total | $106,392 | $103,189 |
|---|
| (4) | Mr. Dickey’s All Other Compensations consists of: |
| 2024 | 2023 |
|---|
| Life & Disability Insurance | $— | $— |
|---|
| Healthcare Insurance | — | — |
|---|
| Car Expenses/Allowance | — | — |
|---|
| 401(k) Matching Funds | — | — |
|---|
| Total | $— | $— |
|---|
| (5) | Mr. Rodino’s All Other Compensations consists of: |
| 2024 | 2023 |
|---|
| Life & Disability Insurance | $2,524 | $2,524 |
|---|
| Healthcare Insurance | 25,392 | 23,216 |
|---|
| Car Expenses/Allowance | 14,400 | 14,400 |
|---|
| 401(k) Matching Funds | 20,700 | 19,800 |
|---|
| Total | $63,016 | $59,940 |
|---|
| (6) | All bonus compensation for 2023 was deferred to 2024 and subsequently paid in 2024. In last year’s table, Mr. Equels’ $350,000 bonus was not included for 2023 because it was accrued and not paid until 2024. This was disclosed in the footnotes to the table. As it was earned in 2023, it is now reported in 2023. The executive officers voluntarily waived all 2024 bonus compensation in support of the company’s cash conservation efforts. |
| Outstanding Equity Awards at Fiscal Year End · Option Awards · Stock Awards |
|---|
| Name | Number of Securities Underlying Unexercised Options (#) Exercisable | Number of Securities Underlying Unexercised Options (#) Unexercisable | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) | Options Exercise Price ($) | Option Expiration Date | Number of Shares or Units of Stock that Have Not Vested (#) | Market Value of Shares or Units of Stock that Have Not Vested ($) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights that Have Not Vested (#) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights that Have Not Vested ($) |
|---|
| Thomas K. Equels | 6 | — | — | 13,200 | 6/8/2025 | — | — | — | — |
|---|
| President and Chief | 6 | — | — | 7,392 | 6/8/2026 | — | — | — | — |
|---|
| Executive Officer | 68 | — | — | 2,464 | 6/8/2027 | — | — | — | — |
|---|
| 3 | — | — | 2,156 | 6/15/2027 | — | — | — | — |
| 3 | — | — | 2,156 | 6/30/2027 | — | — | — | — |
| 4 | — | — | 2,112 | 7/15/2027 | — | — | — | — |
| 5 | — | — | 1,848 | 7/31/2027 | — | — | — | — |
| 5 | — | — | 1,804 | 8/15/2027 | — | — | — | — |
| 6 | — | — | 1,584 | 8/31/2027 | — | — | — | — |
| 84 | — | — | 1,628 | 2/13/2028 | — | — | — | — |
| 28 | — | — | 1,672 | 4/12/2028 | — | — | — | — |
| 68 | — | — | 1,320 | 5/16/2028 | — | — | — | — |
| 57 | — | — | 1,320 | 5/16/2028 | — | — | — | — |
| 37 | — | — | 1,364 | 7/18/2028 | — | — | — | — |
| 65 | — | — | 968 | 10/17/2028 | — | — | — | — |
| 97 | — | — | 968 | 1/28/2029 | — | — | — | — |
| 3000 | — | — | 307 | 8/12/2030 | — | — | — | — |
| 3000 | — | — | 196 | 11/11/2030 | — | — | — | — |
| 3000 | — | — | 171 | 11/11/2031 | — | — | — | — |
| 3000 | — | — | 41 | 11/30/2032 | — | — | — | — |
| 3000 | — | — | 47 | 11/30/2033 | — | — | — | — |
| Total | 15,542 | — | — | | — | — | — | — |
|---|
| Robert Dickey IV | 500 | — | — | 70 | 03/03/2032 | — | — | — | — |
|---|
| Chief Financial Officer |
|---|
| Total | 500 | — | — | | — | — | — | — |
|---|
| Peter Rodino | 3 | — | — | 6,865 | 6/21/2026 | — | — | — | — |
|---|
| COO, General Counsel and Secretary | 2 | — | — | 2,156 | 6/15/2027 | — | — | — | — |
|---|
| 2 | — | — | 2,156 | 6/30/2027 | — | — | — | — |
| 2 | — | — | 2,112 | 7/15/2027 | — | — | — | — |
| 2 | — | — | 1,848 | 7/31/2027 | — | — | — | — |
| 2 | — | — | 1,804 | 8/15/2027 | — | — | — | — |
| 3 | — | — | 1,584 | 8/31/2027 | — | — | — | — |
| 39 | — | — | 1,628 | 2/13/2028 | — | — | — | — |
| 23 | — | — | 1,672 | 4/12/2028 | — | — | — | — |
| 27 | — | — | 1,320 | 5/16/2028 | — | — | — | — |
| 17 | — | — | 1,364 | 7/18/2028 | — | — | — | — |
| 30 | — | — | 968 | 10/17/2028 | — | — | — | — |
| 45 | — | — | 968 | 1/28/2029 | — | — | — | — |
| 750 | — | — | 185 | 12/9/2030 | — | — | — | — |
| 1,000 | — | — | 144 | 11/30/2031 | — | — | — | — |
| 500 | — | — | 70 | 03/03/2032 | — | — | — | — |
| 1,000 | — | — | 41 | 11/30/2032 | — | — | — | — |
| 1,000 | — | — | 47 | 11/30/2033 | — | — | — | — |
| Total | 4,447 | — | — | | — | — | — | — |
|---|
