ARTELO BIOSCIENCES INC
For the period ended Dec 19, 2024. Filed Nov 8, 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.
Dec 19, 2024 · Filed Nov 8, 2024
Contents
Pay vs Performance
PAY VERSUS PERFORMANCE
In accordance with the SEC’s disclosure requirements regarding pay versus performance, or PVP, this section presents the SEC-defined “Compensation Actually Paid,” or CAP. Also required by the SEC, this section compares CAP to various measures used to gauge performance at Artelo.
Compensation decisions at Artelo are made independently of disclosure requirements. CAP is a supplemental measure to be viewed alongside performance measures as an addition to the philosophy and strategy of compensation-setting discussed elsewhere in the overview of the executive compensation program, not in replacement.
Pay versus Performance Table - Compensation Definitions
Salary, Bonus, Non-Equity Incentive Plan Compensation, and All Other Compensation are each calculated in the same manner for purposes of both CAP and Summary Compensation Table, or SCT, values. The primary difference between the calculation of CAP and SCT total compensation is “Stock Awards” and “Option Awards.”
| SCT Total | CAP | |
| Stock and Option Awards | Grant date fair value of stock and option awards granted during the year | Year over year change in the fair value of stock and option awards that are unvested as of the end of the year, or vested or were forfeited during the year |
|---|
Pay Versus Performance Table
In accordance with the SEC’s new PVP rules, the following table sets forth information concerning the compensation of our NEO for each of the fiscal years ended December 31, 2023, 2022 and December 31, 2021 and our financial performance for each such fiscal year:
| (in thousands) | ||||||
|---|---|---|---|---|---|---|
| GAAP | ||||||
| Year | Summary Compensation Table Total for PEO ($) | Compensation Actually Paid to PEO ($) | Average Summary Compensation Table Total for Non-PEO NEOs ($) | Average Compensation Actually Paid to Non-PEO NEOs ($) | Value of Initial Fixed $100 Investment Based on: Total Stockholder Return ($) | Net Income ($) |
| 2023 | 741,248 | 525,373 | - | - | $12.79 | (9,829) |
| 2022 | 654,831 | (153,810) | - | - | $26.39 | (10,083) |
| 2021 | 638,290 | (1,729,762) | - | - | $71.10 | (9,443) |
Compensation actually paid
The following adjustments were made to the Company’s PEO’s compensation to determine compensation actually paid to PEO:
| Year | Reported Summary Compensation Table Total for PEO ($) | Reported Value of Equity Awards ($) | Equity Award Adjustments ($) | Compensation Actually Paid to PEO ($) |
|---|---|---|---|---|
| 2023 | 741,248 | (138,058) | (77,817) | 525,373 |
| 2022 | 654,831 | - | (808,641) | (153,810) |
| 2021 | 638,290 | (3,570,157) | 1,202,105 | (1,729,762) |
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Adjustments to equity value
Set out below is a reconciliation of the equity award adjustments:
| Year | Year End Fair Value of Equity Awards for PEO ($) | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards for PEO ($) | Fair value as of Vesting Date of Equity Awards Grated and Vested in the Year for PEO ($) | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year for PEO ($) | Total Equity Award Adjustments for PEO ($) |
|---|---|---|---|---|---|
| 2023 | 79,821 | (124,824) | - | (32,814 | (77,817) |
| 2022 | - | (595,502) | - | (213,139) | (808,641) |
| 2021 | 1,208,090 | (10,919) | - | 4,934 | 1,202,105 |
Analysis of Information Presented in the Pay Versus Performance Table
The following provides an illustration of the relationship between compensation actually paid and total stockholder return as well as the relationship between compensation actually paid and net loss:
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.