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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 Table

 

As required under SEC rules adopted pursuant to the Dodd-Frank Act and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation and certain measurements of the Company's performance.

 

The following table sets forth the information of our NEOs, consisting of the Company's primary executive officer ("PEO") and primary financial officer ("PFO") for the fiscal years ended December 31, 2024, 2023 and 2022. The amounts represented under "compensation actually paid" ("CAP") are computed in accordance with SEC rules relative to Item 402(v) of Regulation S-K, and do not reflect the actual compensation paid or earned during each fiscal year. See footnotes (2) and (4) below for further information.

 

Year (1)

  

Summary Compensation Table Total for PEO ($)

    

Compensation Actually Paid to PEO ($) (2)

    

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

    

Compensation Actually Paid to Non-PEO NEOs($) (4)

    

Value of Initial Fixed $100 Investment Based on Total Shareholder Return ($) (5)

    

Net Income (loss) ($) (000's)

  

(a)

  

(b)

    

(c)

    

(d)

    

(e)

    

(f)

    

(g)

  

2024

   $ 551,872     $ 557,697     $ 476,192     $ 477,357     $ 126     $

4,599

  

2023

     1,319,920       986,111       544,109       464,313       98       125  

2022

     2,220,964       3,272,760       707,954       774,159       126       (3,186 )

____________

(1)

During all years, the PEO is Mr. Ballard and the Non-PEO NEO is Mr. Puhala (PFO).

(2)

Amounts in column (c) represent "compensation actually paid"("CAP"), computed under the definition of Item 402(v) of Regulation S-K; and do not represent the actual amount of compensation paid or earned during the applicable year. Accordingly, stock-based awards have been adjusted to reflect fair value based on the Company's stock price at either the end of the applicable year or at the vesting date, as opposed to the price at the date of grant under FASB ASC 718. The following is a detail of the adjustments, reconciling column (b) to column (c) on the above "Pay versus Performance" Table:
   
PEO Total Compensation Amount $ 551,872 $ 1,319,920 $ 2,220,964
PEO Actually Paid Compensation Amount $ 557,697 986,111 3,272,760
Adjustment To PEO Compensation, Footnote

Reconciliation of PEO Compensation Table (column (b)) to CAP (column (c))

 

Year

  

Executive

  

Per Summary Compensation Table ($)

    

Subtract Awards granted during FY, value under ASC 718 ($)

    

Add Awards granted @ Year-End Value ($)

    

Add Change in Value of Prior Unvested Equity Awards ($)

    

Add Change in Value of Prior Vested Equity Awards ($)

    

Compensation Actually Paid ($)

  

2024

  

PEO

   $ 551,872     $ —     $ —     $ 41,774     $ (35,949 )   $ 557,697  

2023

  

PEO

     1,319,920       (33,413 )     33,413       (195,199 )     (138,610 )     986,111  

2022

  

PEO

     2,220,964       (958,764 )     1,234,780      

642,470

       133,310       3,272,760  

 

(3)

Amounts represent the compensation, computed for the Company's non-PEO named executive officer.

(4)

Amounts in column (e) represent "compensation actually paid"("CAP"), computed under the definition of Item 402(v) of Regulation S-K; and do not represent the actual amount of compensation paid or earned during the applicable year. For Column (e), the amount is based on the Company's non-PEO NEO. Accordingly, stock-based awards have been adjusted to reflect fair value based on the Company's stock price at either the end of the applicable year or at the vesting date, as opposed to the price at the date of grant under FASB ASC 718. The following is a detail of the adjustments, reconciling column (d) to column (e) on the above "Pay versus Performance" Table:
   
Non-PEO NEO Average Total Compensation Amount $ 476,192 544,109 707,954
Non-PEO NEO Average Compensation Actually Paid Amount $ 477,357 464,313 774,159
Adjustment to Non-PEO NEO Compensation Footnote

Reconciliation of PFO Compensation Table (column (d)) to CAP (column (e))

 

Year

  

Executive

  

Per Summary Compensation Table ($)

    

Subtract Awards granted during FY, value under ASC 718 ($)

    

Add Awards granted @ Year-End Value ($)

    

Add Change in Value of Prior Unvested Equity Awards ($)

    

Add Change in Value of Prior Vested Equity Awards ($)

    

Compensation Actually Paid ($)

  

2024

  

PFO

   $ 476,192     $ —     $ —     $

8,355

 

   $ (7,190 )   $ 477,357  

2023

  

PFO

     544,109       (8,183 )     8,183       (39,040 )     (40,756 )     464,313  

2022

  

PFO

     707,954       (191,755 )     246,959       7,267       3,734       774,159  

 

(5)

Represents the cumulative Total Shareholder Return on an initial fixed $100 value, computed as the difference between the Company's share price at the end of the applicable year and at the beginning of the measurement period (December 31, 2021).

 

 

    
Tabular List, Table

Tabular List of Most Important Performance Measure

 

The Company primarily uses the following financial performance to assess the Company's performance:

 

Most Important Performance Measure

Adjusted EBITDA

 

For additional information on our compensation see Elements of Compensation and Annual Cash Bonuses and Annual Non-equity Incentive Plan Compensation below.

    
Total Shareholder Return Amount $ 126 98 126
Net Income (Loss) $ 4,599,000 125,000 (3,186,000)
Measure:: 1      
Pay vs Performance Disclosure      
Name Adjusted EBITDA    
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 33,413 1,234,780
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 (33,413) (958,764)
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 41,774 (195,199) 642,470
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 (35,949) (138,610) 133,310
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 0 8,183 246,959
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 (8,183) (191,755)
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 8,355 (39,040) 7,267
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 $ (7,190) $ (40,756) $ 3,734