Recovery of Erroneously Awarded Compensation

12 Months Ended

Dec. 31, 2024

Restatement Determination Date:: 2024-12-31

Erroneously Awarded Compensation Recovery

Erroneous Compensation Analysis

The Compensation Committee and management have considered whether our compensation policies might encourage inappropriate risk taking by the Company’s executive officers and other employees. The Compensation Committee has determined that the current compensation structure aligns the interests of the executive officers with those of the Company without providing rewards for excessive risk taking by awarding a mix of fixed and performance based or discretionary bonuses with the performance-based compensation focused on profits as opposed to revenue growth.

The Compensation Committee working with management adopts a plan each year intended to award members of our management including executive officers for meeting or exceeding targeted goals, The Committee believes the amounts to be paid to Messrs. Melluzzo, Glassman and Recca for services rendered in fiscal 2025 are appropriate in light of our financial performance in 2024.