XML 13 R2.htm IDEA: XBRL DOCUMENT v3.25.1
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 (our “Pay-for-Performance Table”) reports the compensation of our principal executive officer (“PEO”) and the average compensation of our other Named Executive Officers (for purposes of this “Pay Versus Performance” section, the “NEOs”) for the past three fiscal years as reported in our Summary Compensation Table. The information reported in the Pay-for-Performance Table is meant to reflect the relationship between the executive compensation that the Company actually paid and certain measures of the Company’s financial performance. For information regarding the Company’s pay-for-performance philosophy and how we align executive compensation with the Company’s financial performance, refer to our Narrative Disclosure Regarding Compensation. In accordance with the reduced disclosure requirements for smaller reporting companies, we have not included a tabular list of financial performance measures, a “Company-Selected Measure,” or executive compensation data for any peer group of the Company, and we have reported the required pay-versus-performance information for two instead of three years.

 

                   

Average

             Value of Initial          
                    Summary    

Average

     Fixed $100          
                    Compensation    

Compensation

     Investment          
   

Summary

    

Compensation

     Table Total    

Actually Paid

    

Based On Total

    

Net

  
   

Compensation

    

Actually Paid

    

for Non-PEO

    

to Non-PEO

    

Shareholder

    

Income

  
   

Table Total for

    

to

    

NEOs

    

NEOs

    

Return

    

($)

  

Year

  

PEO ($) (1)

    

PEO ($) (3)

    

($) (2)

    

($) (3)

    

($) (4)

    

(5)

  

2024

   $ 603,288     $ 666,588     $ 464,561     $ 469,998     $ 132     $ 2,186,000  

2023

   $ 626,600     $ 588,500     $ 395,001     $ 366,522     $ 81     $ 610,000  

2022

   $ 560,000     $ 574,400     $ 323,610     $ 320,012     $ 122     $ 1,328,000  

 

 

 

 
   
PEO Total Compensation Amount $ 603,288 $ 626,600 $ 560,000
PEO Actually Paid Compensation Amount $ 666,588 588,500 574,400
Adjustment To PEO Compensation, Footnote

Adjustments to Equity Awards to Determine

  

PEO

    

Non-PEO NEOs

  

Compensation “Actually Paid”

  

2024

    

2023

    

2022

    

2024

    

2023

    

2022

  

Average Summary Compensation Table Total

   $ 603,288     $ 626,600     $ 560,000     $ 464,561     $ 395,001     $ 323,610  

Minus amounts reported in the “Stock Awards” and "Option Awards" columns of the Summary Compensation Table.

   $ (316,800 )   $ (351,600 )   $ (288,000 )   $ (178,463 )   $ (64,408 )   $ (49,911 )

Plus fair value as of the end of the covered year of awards granted during the covered year that are outstanding and unvested as of the end of the covered year.

   $ 95,700       72,000             $ 191,400     $ 40,658     $ 45,849  

Plus fair value as of the vesting date for awards granted during the covered year that vested during the covered year.

   $ 284,400     $ 241,500     $ 302,400       —       —       —  

Plus the change in fair value as of the vesting date (compared to as of the prior year end) of awards granted prior to the covered year that vested during the covered year.

     —       —       —     $ (7,500 )   $ (4,729 )     464  

Total Adjustments

     63,300       (38,100 )     14,400     $ 5,437     $ (28,479 )   $ (3,598 )

Compensation “Actually Paid”

   $ 666,588     $ 588,500     $ 574,400     $ 469,998     $ 366,522     $ 320,012  
   

(1)

Raymond C. Stachowiak, our PEO, was our Executive Chairman for each of the years presented.

(2)

During 2024, our non-PEO NEOs were Craig K. Tagawa and Gary Delanois. During 2023, our non-PEO NEOs were Craig K. Tagawa and Peter Gaccione. During 2022, our non-PEO NEO’s were Ernest R. Bates, Peter Gaccione and Craig K. Tagawa.

(3)

Compensation “actually paid” is calculated in accordance with Item 402(v) of Regulation S-K. The table below sets forth each adjustment to the equity awards granted to our NEOs during each year presented in the table to calculate the compensation actually paid to our NEOs each year. Values reported in the table below are roundest to the nearest dollar.

(4)

The amounts shown above represent the Company’s cumulative total shareholder return (“TSR”) on an assumed investment of $100 in shares of our Common Stock over the indicated measurement period. Cumulative TSR is calculated by dividing (i) the sum of the cumulative amount of dividends on our Common Stock for the measurement period (if any), assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period, by (ii) the Company’s share price at the beginning of the measurement period.

(5)

The dollar amounts reported represent the amount of net income available to common shareholders reflected in the Company’s audited financial statements for the applicable year.

 

 

    
Non-PEO NEO Average Total Compensation Amount $ 464,561 395,001 323,610
Non-PEO NEO Average Compensation Actually Paid Amount $ 469,998 366,522 320,012
Compensation Actually Paid vs. Total Shareholder Return

Relationship Between “Compensation Actually Paid” and Performance

 

The following graphs address the relationship between the compensation “actually paid” by the Company to our NEOs as disclosed in the Pay-for-Performance table and the Company’s (i) cumulative total shareholder return, assuming an initial fixed investment of $100, and (ii) net income, in each case, for the years ended December 31, 2022, 2023 and 2024.

 

PEO and Average Non-PEO NEOs Compensation Actually Paid vs. Company TSR

tsr01.jpg
    
Compensation Actually Paid vs. Net Income

PEO Average Other NEOs Compensation Actually Paid vs. GAAP Net Income

capvsni01.jpg

 

 

    
Total Shareholder Return Amount $ 132 81 122
Net Income (Loss) 2,186,000 610,000 1,328,000
PEO      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 63,300 (38,100) 14,400
PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (316,800) (351,600) (288,000)
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 95,700 72,000  
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 0 0 0
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 284,400 241,500 302,400
Non-PEO NEO      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 5,437 (28,479) (3,598)
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (178,463) (64,408) (49,911)
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 191,400 40,658 45,849
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 (7,500) (4,729) 464
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 $ 0 $ 0