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Pay vs Performance Disclosure - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Apr. 14, 2022
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table    

Pay Versus Performance. The following table provides total compensation and compensation actually paid to our principal executive officers ("PEO") and to our named executive officers ("NEOs") for the fiscal years ended December 31, 2024, 2023 and 2022, as well as the Company's total shareholder return ("TSR") and net income.

 

 

Pay Versus Performance

 

 

(a)

 

(b)

 

(c)

 

(d)

 

(e)

 

(f)

 

(g)

 

(h)

 

Year

Summary Compensation Table Total for First PEO (1)

 

Summary Compensation Table Total for Second PEO  (1)

 

Compensation Actually Paid to First PEO (2)

 

Compensation Actually Paid to Second PEO (2)

 

Average Summary Compensation Table Total for Non-PEO NEOs (3)

 

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

 

Value of Initial Fixed $100 Investment Based on Total Shareholder Return (4)

 

Net Income (5)

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

2024

N/A

 

 

615,069

 

N/A

 

 

615,069

 

 

286,157

 

 

286,157

 

 

108.71

 

 

3,383,000

 

2023

N/A

 

 

562,054

 

N/A

 

 

546,300

 

 

332,054

 

 

267,680

 

 

84.93

 

 

9,293,000

 

2022

 

346,863

 

 

507,807

 

 

346,873

 

 

530,995

 

 

329,228

 

 

360,833

 

 

113.56

 

 

12,932,000

 

 

 

(1)
For the fiscal years 2024 and 2023, James A. Dowd was the only PEO for the entire fiscal year. For fiscal year 2022, Thomas Schneider served as PEO until April 14, 2022, and James A. Dowd served as PEO effective April 14, 2022 through the end of the year. Column (a) presents the total compensation from the summary compensation table for Thomas Schneider. Column (b) presents the total compensation from the summary compensation table for James A. Dowd.
(2)
For fiscal year 2022, column (c) presents the compensation actually paid to Thomas Schneider from January 1, 2022 until his resignation on September 7, 2022. Column (d) presents the compensation actually paid to James A. Dowd, following his appointment as Interim President and Chief Executive Officer effective April 15, 2022. These amounts are calculated in accordance with the SEC's disclosure requirements regarding pay versus performance.
(3)
For fiscal year 2024, columns (e) and (f) present the average summary compensation and average compensation actually paid to our Non-PEO NEOs Robert G. Butkowski and William D. O'Brien. For fiscal year 2023 and 2022, columns (e) and (f) present the average summary compensation and average compensation actually paid to our Non-PEO NEOs Ronald Tascarella and Walter F. Rusnak.
(4)
Cumulative total shareholder return is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, (assuming dividend reinvestment), and the difference between the Company's common share price at the end and the beginning of the measurement period, by the common share price at the beginning of the measurement period.
(5)
Column (h) shows net income as reported on the Company’s consolidated financial statements.

 

SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine "Compensation Actually Paid" as shown in the Pay Versus Performance Table. Compensation Actually Paid is calculated by adjusting the Summary Compensation Table totals to include the fair market value of equity awards as of December 31, 2024, 2023 and 2022, or if earlier, the vesting date (rather than the grant date). The following table presents the total equity adjustments that were made to compensation totals for each year to determine the SEC defined compensation actually paid to each PEO and Non-PEO NEOs.

 

 

Year

Principal Executive Officers

Summary Compensation Table Total

 

Year-Over-Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years

 

Year-Over- Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year

 

Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year

 

Compensation Actually Paid

 

 

 

($)

 

($)

 

($)

 

($)

 

($)

 

2024

PEO

 

615,069

 

 

 

 

 

615,069

 

2023

PEO

 

562,054

 

 

 

(15,754

)

 

 

546,300

 

2022

1st PEO

 

346,863

 

 

 

24,039

 

 

(24,029

)

 

346,873

 

2022

2nd PEO

 

507,807

 

 

9,768

 

 

13,420

 

 

 

530,995

 

 

 

Year

Average Reported Summary Compensation Table Total for Non-PEO NEOs

 

Average Year-Over-Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years

 

Average Year-Over- Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year

 

Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year

Average Compensation Actually Paid

 

 

($)

 

($)

 

($)

 

($)

($)

 

2024

 

286,157

 

 

 

 

286,157

 

2023

 

332,054

 

 

 

(64,374

)

 

267,680

 

2022

 

329,228

 

 

3,968

 

 

27,637

 

 

360,833

 

   
Company Selected Measure Name     net income    
Named Executive Officers, Footnote    
(3)
For fiscal year 2024, columns (e) and (f) present the average summary compensation and average compensation actually paid to our Non-PEO NEOs Robert G. Butkowski and William D. O'Brien. For fiscal year 2023 and 2022, columns (e) and (f) present the average summary compensation and average compensation actually paid to our Non-PEO NEOs Ronald Tascarella and Walter F. Rusnak.
   
PEO Total Compensation Amount     $ 615,069 $ 562,054  
PEO Actually Paid Compensation Amount     $ 615,069 546,300  
Adjustment To PEO Compensation, Footnote    

Year

Principal Executive Officers

Summary Compensation Table Total

 

Year-Over-Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years

 

Year-Over- Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year

 

Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year

 

Compensation Actually Paid

 

 

 

($)

 

($)

 

($)

 

($)

 

($)

 

2024

PEO

 

615,069

 

 

 

 

 

615,069

 

2023

PEO

 

562,054

 

 

 

(15,754

)

 

 

546,300

 

2022

1st PEO

 

346,863

 

 

 

24,039

 

 

(24,029

)

 

346,873

 

2022

2nd PEO

 

507,807

 

 

9,768

 

 

13,420

 

 

 

530,995

 

   
Non-PEO NEO Average Total Compensation Amount     $ 286,157 332,054 $ 329,228
Non-PEO NEO Average Compensation Actually Paid Amount     $ 286,157 267,680 360,833
Adjustment to Non-PEO NEO Compensation Footnote    

Year

Average Reported Summary Compensation Table Total for Non-PEO NEOs

 

Average Year-Over-Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years

 

Average Year-Over- Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year

 

Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year

Average Compensation Actually Paid

 

 

($)

 

($)

 

($)

 

($)

($)

 

2024

 

286,157

 

 

 

 

286,157

 

2023

 

332,054

 

 

 

(64,374

)

 

267,680

 

2022

 

329,228

 

 

3,968

 

 

27,637

 

 

360,833

 

   
Compensation Actually Paid vs. Total Shareholder Return    

img237285158_4.jpg

   
Compensation Actually Paid vs. Net Income    

The relationship between Compensation Actually Paid and the Company's financial performance for the three-year period as shown in the above Pay Versus Performance Table is illustrated in the two following charts which compares the Compensation Actually Paid to the PEOs and the average Compensation Actually Paid to the Non-PEO NEOs versus TSR and Net Income.

 

img237285158_3.jpg

   
Total Shareholder Return Amount     $ 108.71 84.93 113.56
Net Income (Loss)     $ 3,383,000 9,293,000 12,932,000
PEO Name   James A. Dowd      
Measure:: 1          
Pay vs Performance Disclosure          
Non-GAAP Measure Description    
(5)
Column (h) shows net income as reported on the Company’s consolidated financial statements.
   
James A. Dowd          
Pay vs Performance Disclosure          
PEO Total Compensation Amount   $ 507,807 $ 615,069 562,054 507,807
PEO Actually Paid Compensation Amount   $ 530,995 $ 615,069 $ 546,300 530,995
PEO Name     James A. Dowd James A. Dowd  
James A. Dowd | 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         9,768
James A. Dowd | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         13,420
Thomas Schneider          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 346,863       346,863
PEO Actually Paid Compensation Amount $ 346,873       346,873
PEO Name Thomas Schneider        
Thomas Schneider | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         24,039
Thomas Schneider | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (24,029)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       $ (15,754)  
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         3,968
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       $ (64,374) $ 27,637