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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE

 

The following table shows the past three fiscal years’ total compensation for our named executive officers as set forth in the Summary Compensation Table, the “compensation actually paid” to our named executive officers (as determined under SEC rules), and our net income.

 

SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine Compensation Actually Paid as reported in the Pay Versus Performance Table. Compensation Actually Paid does not necessarily represent cash and/or equity value transferred to the applicable named executive officer without restriction, but rather is a valuation calculated under applicable SEC rules. In general, Compensation Actually Paid is calculated as summary compensation table total compensation adjusted to (a) include the value of any pension benefit (or loss) attributed to the past fiscal year, including on account of any amendments adopted during such year; and (b) include the fair market value of equity awards as of December 31, 2024 or, if earlier, the vesting date (rather than the grant date) and factor in dividends and interest accrued with respect to such awards, if applicable. For purposes of the disclosure below, no pension valuation adjustments were required.

 

Year

  

Summary Compensation Table Total for Principal Executive Officer (“PEO”)(1)

    

Compensation Actually Paid to PEO(2)

    

Average Summary Compensation Table Total for Non-PEO Named Executive Officers (“NEOs”)(3)

    

Average Compensation Actually Paid to Non-PEO NEOs(3)

    

Net Income (Loss) (thousands)(4)

  

2024

   $ 2,411,923     $ 7,906,428     $ 1,058,550     $ 3,169,516     $ (3,823 )

2023

   $ 1,747,045     $ 2,258,856     $ 752,110     $ 1,037,017     $ (936 )

2022

   $ 2,119,541     $ 1,700,769     $ 814,825     $ 584,117     $ (9,021 )

 

(1) Sean E. Brynjelsen was the Registrant’s PEO for each of the 2024, 2023 and 2022 fiscal years.

    
PEO Total Compensation Amount $ 2,411,923 $ 1,747,045 $ 2,119,541
PEO Actually Paid Compensation Amount $ 7,906,428 2,258,856 1,700,769
Adjustment To PEO Compensation, Footnote

(2) The amounts disclosed reflect the adjustments listed in the tables below to the amounts reported in the Summary Compensation Table for PEO:

 

Year

  

Less: Grant Date Value of Equity Awards

    

Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year

    

Change in Fair Value From Last Day of Prior Year to Last Day of Year of Unvested Equity Awards

    

Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year

    

Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year

    

Dividends on Unvested Awards

    

Total Adjustments

  

2024

   $ (1,295,283 )   $ 3,782,258     $ 2,048,927     $ 378,596     $ 580,007       —     $ 5,494,505  

2023

   $ (807,628 )   $ 807,468     $ 166,636     $ 187,804     $ 157,531       —     $ 511,811  

2022

   $ (1,251,415 )   $ 673,908     $ (48,439 )   $ 297,486     $ (90,312 )     —     $ (418,772 )
   
Non-PEO NEO Average Total Compensation Amount $ 10,585 752,110 814,825
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,169,516 1,037,017 584,117
Adjustment to Non-PEO NEO Compensation Footnote

(3) For the 2024 fiscal year, our Non-PEO NEOs were: James R. Gruber, David C. Krempa and Ipek Erdogan-Trinkaus. For the 2023 and 2022 fiscal years, our Non-PEO NEOs were: James R. Gruber and David C. Krempa. The amounts disclosed reflect the adjustments listed in the table below to the amounts reported in the Summary Compensation Table for Non-PEO NEOs:

 

Year

  

Less: Grant Date Value of Equity Awards

    

Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year

    

Change in Fair Value From Last Day of Prior Year to Last Day of Year of Unvested Equity Awards

    

Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year

    

Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year

    

Dividends on Unvested Awards

    

Total Adjustments

  

2024

   $ (609,340 )   $ 1,279,687     $ 998,549     $ 124,817     $ 317,253       —     $ 2,110,966  

2023

   $ (200,960 )   $ 200,920     $ 181,180     $ 46,731     $ 57,036       —     $ 284,907  

2022

   $ (420,678 )   $ 307,435     $ (108,460 )   $ 29,641     $ (38,647 )     —     $ (230,709 )

 

(4) The dollar amounts reported represent the amount of net loss reflected in our consolidated audited financial statements for the applicable year.

 

 

    
Net Income (Loss) $ (3,823,000) (936,000) (9,021,000)
PEO      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 5,494,505 511,811 (418,772)
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (1,295,283) (807,628) (1,251,415)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 3,782,258 807,468 673,908
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,048,927 166,636 (48,439)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 378,596 187,804 297,486
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 580,007 157,531 (90,312)
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,110,966 284,907 (230,709)
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (609,340) (200,960) (420,678)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,279,687 200,920 307,435
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 998,549 181,180 (108,460)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 124,817 46,731 29,641
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 317,253 57,036 (38,647)
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 $ 0 $ 0