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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

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 our performance. 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

 

The following table sets forth information concerning the compensation of our named executive officers for each of the fiscal years ended December 31, 2023, 2022 and 2021, and our financial performance for each such fiscal year:

 

 

                                   

Value of Initial Fixed $100

Investment Based on:

     

Year

Summary

Compensation

Table Total for

Current PEO

($)(1)

 

Compensation

Actually Paid to

Current PEO

($)(1)

Summary

Compensation

Table Total for

Travis Mickle, Ph.D.

($)(2)

 

Compensation

Actually Paid to

Travis Mickle, Ph.D.

($)(2)

Summary

Compensation

Table Total for

Richard W. Pascoe

($)(3)

 

Compensation

Actually Paid to

Richard W. Pascoe

($)(3)

Summary

Compensation

Table Total for

Christal M.M. Mickle

($)(4)

 

Compensation

Actually Paid to

Christal M.M. Mickle

($)(4)

Average

Summary

Compensation

Table Total for

Non-PEO NEOs

($)(5)

 

Average

Compensation

Actually Paid to

Non-PEO NEOs

($)(5)

   

 

Total

Shareholder

Return

($)

 

Net Income

($)

 

2023

 

3,445,231     4,975,770

3,593,438

  4,385,998

4,122,558

 

3,308,589

1,669,956

 

2,211,127

 

2,039,861  

 

2,724,999    

 

58.48  

 

(46,049,000)  

2022

 

   

2,400,356

 

1,349,703

     

1,199,492

   

1,106,040

     

40.98

   

(41,543,000)

 

2021

 

   

2,657,059

 

2,808,110

     

953,616

   

989,957

     

77.77

   

(8,555,000)

 

 

(1) Mr. McFarlane became our Chief Executive Officer on October 10, 2023.

 

(2) Dr. Travis Mickle served as the Company’s Chief Executive Officer in 2021, 2022 and from January 1, 2023 until January 6, 2023.

 

(3) Mr. Pascoe served as the Company’s Chief Executive Officer from January 6, 2023, until June 1, 2023. As noted below, Mr. Pascoe also served as a non-PEO NEO during 2022 and 2021, and his compensation for those years is reflected in the columns entitled “Average Summary Compensation Table Total for Non-PEO NEOs” and “Average Compensation Actually Paid to Non-PEO NEOs.”

 

(4) Ms. Christal Mickle served as the Company’s Interim Chief Executive Officer from June 1, 2023, until October 10, 2023.

 

(5) Amounts represent the average compensation actually paid to our remaining named executive officers for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table below for each fiscal year.

 

Year

Non-PEO NEOs

2023

R. LaDuane Clifton, MBA, CPA and Joshua Schafer

2022

Richard W. Pascoe and R. LaDuane Clifton, MBA, CPA

2021

Richard W. Pascoe, Sven Guenther, Ph.D. and R. LaDuane Clifton, MBA, CPA

 

 

   
Adjustment To PEO Compensation, Footnote
   

2023

 

Adjustments

  Current PEO  

Travis C. Mickle, Ph.D.

  Richard W. Pascoe   Christal M.M. Mickle    

Average

Non-PEO

NEOs

Deduction for Amounts Reported under the Stock Awardsand Option AwardsColumns in the Summary Compensation Table for Applicable FY

    (2,941,461 )     (2,558,873 )     (3,469,457 )     (1,047,596 )     (1,327,110 )

Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End

    4,472,000       3,589,040             1,590,000       2,013,274  

Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date

                2,814,000              

Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End

                      13,320       11,795  

Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date

          (237,607 )     (158,512 )     (14,553 )     (11,821 )

Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End

                                 

Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date

                                 

Increase based on Incremental Fair Value of Options/SARs Modified during Applicable FY

                                 

TOTAL ADJUSTMENTS

    1,530,539       792,560       (813,969 )     541,171       686,138  

 

   
Non-PEO NEO Average Total Compensation Amount $ 2,039,861 $ 1,199,492 $ 953,616
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,724,999 1,106,040 989,957
Compensation Actually Paid vs. Total Shareholder Return

Relationship Between Financial Performance Measures

 

The graphs below compare the compensation actually paid to our PEOs and the average of the compensation actually paid to our remaining named executive officers, with (i) our cumulative TSR, and (ii) our net income, in each case, for the fiscal years ended December 31, 2023, 2022 and 2021. TSR amounts reported in the graph assume an initial fixed investment of $100.

 

proxy1pic.jpg

 

 

   
Compensation Actually Paid vs. Net Income
proxy2pic.jpg
 

 

 

   
Total Shareholder Return Amount $ 58.48 40.98 77.77
Net Income (Loss) (46,049,000) (41,543,000) (8,555,000)
NEO Deduction For Amounts Reported under The "Stock Awards" And "Option Awards" Columns In The Summary Compensation Table For Applicable FY [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (1,327,110)    
NEO Increase Based On ASC 718 Fair Value Of Awards Granted During Applicable FY That Remain Unvested As Of Applicable FY End, Determined As Of Applicable FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,013,274    
NEO Increase Based On ASC 718 Fair Value Of Awards Granted During Applicable FY That Vested During Applicable FY, Determined As Of Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
NEO Increase / Deduction For Awards Granted During Prior FY That Were Outstanding And Unvested As Of Applicable FY End, Determined Based On Changes In ASC 718 Fair Value From Prior FY End To Applicable FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 11,795    
NEO Increase / Deduction For Awards Granted During Prior FY That Vested During Applicable FY, Determined Based on Change In ASC 718 Fair Value From Prior FY End To Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (11,821)    
NEO Deduction Of ASC 718 Fair Value Of Awards Granted During Prior FY That Were Forfeited During Applicable FY, Determined As Of Prior FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
NEO Increase Based On Dividends Or Other Earnings Paid During Applicable FY Prior To Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
NEO Increase Based On Incremental Fair Value Of Options/SARs Modified During Applicable FY [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
NEO Total Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 686,138    
Current CEO [Member]      
Pay vs Performance Disclosure      
PEO Total Compensation Amount 3,445,231 0 0
PEO Actually Paid Compensation Amount 4,975,770 0 0
Current CEO [Member] | PEO Deduction For Amounts Reported under The "Stock Awards" And "Option Awards" Columns In The Summary Compensation Table For Applicable FY [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (2,941,461)    
Current CEO [Member] | PEO Increase Based On ASC 718 Fair Value Of Awards Granted During Applicable FY That Remain Unvested As Of Applicable FY End, Determined As Of Applicable FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 4,472,000    
Current CEO [Member] | PEO Increase Based On ASC 718 Fair Value Of Awards Granted During Applicable FY That Vested During Applicable FY, Determined As Of Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Current CEO [Member] | PEO Increase / Deduction For Awards Granted During Prior FY That Were Outstanding And Unvested As Of Applicable FY End, Determined Based On Changes In ASC 718 Fair Value From Prior FY End To Applicable FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Current CEO [Member] | PEO Increase / Deduction For Awards Granted During Prior FY That Vested During Applicable FY, Determined Based on Change In ASC 718 Fair Value From Prior FY End To Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Current CEO [Member] | PEO Deduction Of ASC 718 Fair Value Of Awards Granted During Prior FY That Were Forfeited During Applicable FY, Determined As Of Prior FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Current CEO [Member] | PEO Increase Based On Dividends Or Other Earnings Paid During Applicable FY Prior To Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Current CEO [Member] | PEO Increase Based On Incremental Fair Value Of Options/SARs Modified During Applicable FY [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Current CEO [Member] | PEO Total Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,530,539    
Former CEO 1 [Member]      
Pay vs Performance Disclosure      
PEO Total Compensation Amount 3,593,438 2,400,356 2,657,059
PEO Actually Paid Compensation Amount 4,385,998 1,349,703 2,808,110
Former CEO 1 [Member] | PEO Deduction For Amounts Reported under The "Stock Awards" And "Option Awards" Columns In The Summary Compensation Table For Applicable FY [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (2,558,873)    
Former CEO 1 [Member] | PEO Increase Based On ASC 718 Fair Value Of Awards Granted During Applicable FY That Remain Unvested As Of Applicable FY End, Determined As Of Applicable FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 3,589,040    
Former CEO 1 [Member] | PEO Increase Based On ASC 718 Fair Value Of Awards Granted During Applicable FY That Vested During Applicable FY, Determined As Of Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 1 [Member] | PEO Increase / Deduction For Awards Granted During Prior FY That Were Outstanding And Unvested As Of Applicable FY End, Determined Based On Changes In ASC 718 Fair Value From Prior FY End To Applicable FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 1 [Member] | PEO Increase / Deduction For Awards Granted During Prior FY That Vested During Applicable FY, Determined Based on Change In ASC 718 Fair Value From Prior FY End To Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (237,607)    
Former CEO 1 [Member] | PEO Deduction Of ASC 718 Fair Value Of Awards Granted During Prior FY That Were Forfeited During Applicable FY, Determined As Of Prior FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 1 [Member] | PEO Increase Based On Dividends Or Other Earnings Paid During Applicable FY Prior To Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 1 [Member] | PEO Increase Based On Incremental Fair Value Of Options/SARs Modified During Applicable FY [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 1 [Member] | PEO Total Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 792,560    
Former CEO 2 [Member]      
Pay vs Performance Disclosure      
PEO Total Compensation Amount 4,122,558 0 0
PEO Actually Paid Compensation Amount 3,308,589 0 0
Former CEO 2 [Member] | PEO Deduction For Amounts Reported under The "Stock Awards" And "Option Awards" Columns In The Summary Compensation Table For Applicable FY [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (3,469,457)    
Former CEO 2 [Member] | PEO Increase Based On ASC 718 Fair Value Of Awards Granted During Applicable FY That Remain Unvested As Of Applicable FY End, Determined As Of Applicable FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 2 [Member] | PEO Increase Based On ASC 718 Fair Value Of Awards Granted During Applicable FY That Vested During Applicable FY, Determined As Of Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,814,000    
Former CEO 2 [Member] | PEO Increase / Deduction For Awards Granted During Prior FY That Were Outstanding And Unvested As Of Applicable FY End, Determined Based On Changes In ASC 718 Fair Value From Prior FY End To Applicable FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 2 [Member] | PEO Increase / Deduction For Awards Granted During Prior FY That Vested During Applicable FY, Determined Based on Change In ASC 718 Fair Value From Prior FY End To Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (158,512)    
Former CEO 2 [Member] | PEO Deduction Of ASC 718 Fair Value Of Awards Granted During Prior FY That Were Forfeited During Applicable FY, Determined As Of Prior FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 2 [Member] | PEO Increase Based On Dividends Or Other Earnings Paid During Applicable FY Prior To Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 2 [Member] | PEO Increase Based On Incremental Fair Value Of Options/SARs Modified During Applicable FY [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 2 [Member] | PEO Total Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (813,969)    
Former CEO 3 [Member]      
Pay vs Performance Disclosure      
PEO Total Compensation Amount 1,669,956 0 0
PEO Actually Paid Compensation Amount 2,211,127 $ 0 $ 0
Former CEO 3 [Member] | PEO Deduction For Amounts Reported under The "Stock Awards" And "Option Awards" Columns In The Summary Compensation Table For Applicable FY [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (1,047,596)    
Former CEO 3 [Member] | PEO Increase Based On ASC 718 Fair Value Of Awards Granted During Applicable FY That Remain Unvested As Of Applicable FY End, Determined As Of Applicable FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,590,000    
Former CEO 3 [Member] | PEO Increase Based On ASC 718 Fair Value Of Awards Granted During Applicable FY That Vested During Applicable FY, Determined As Of Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 3 [Member] | PEO Increase / Deduction For Awards Granted During Prior FY That Were Outstanding And Unvested As Of Applicable FY End, Determined Based On Changes In ASC 718 Fair Value From Prior FY End To Applicable FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 13,320    
Former CEO 3 [Member] | PEO Increase / Deduction For Awards Granted During Prior FY That Vested During Applicable FY, Determined Based on Change In ASC 718 Fair Value From Prior FY End To Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (14,553)    
Former CEO 3 [Member] | PEO Deduction Of ASC 718 Fair Value Of Awards Granted During Prior FY That Were Forfeited During Applicable FY, Determined As Of Prior FY End [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 3 [Member] | PEO Increase Based On Dividends Or Other Earnings Paid During Applicable FY Prior To Vesting Date [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 3 [Member] | PEO Increase Based On Incremental Fair Value Of Options/SARs Modified During Applicable FY [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Former CEO 3 [Member] | PEO Total Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 541,171