XML 52 R2.htm IDEA: XBRL DOCUMENT v3.26.1
Pay vs Performance Disclosure - USD ($)
 1 Months Ended 5 Months Ended 8 Months Ended 12 Months Ended
Dec. 31, 2023
May 31, 2023
Dec. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure                
Pay vs Performance Disclosure, Table      
Year20252024202320222021
Summary Compensation Table Total for CEO1 (a)3,949,428 1,983,800 1,894,587 — — 
Compensation Actually Paid to CEO1 (b) (1)(2)
3,734,505 981,427 3,512,579 — — 
Summary Compensation Table Total for CEO2 (a)— — 1,505,027 — — 
Compensation Actually Paid to CEO2 (b) (1)(2)
— — 2,233,003 — — 
Summary Compensation Table Total for CEO3 (a)— — 1,993,663 2,731,884 4,229,714 
Compensation Actually Paid to CEO3 (b) (1)(2)
— — 2,869,782 3,176,782 5,910,435 
Average Summary Compensation Table Total for Other NEOs (c)583,610 651,430 1,096,559 867,997 819,180 
Average Compensation Actually Paid to Other NEOs (d)(1)(2)
697,087 614,304 1,314,495 970,114 935,837 
Value of Initial Fixed $100 Investment Based On:
Total Shareholder Return (e) (3)
16.69 39.12 110.26 107.10 126.82 
Value of Initial Fixed $100 Investment Based On:
Peer Group Total Shareholder Return (f) (3)
175.73 177.98 158.75 126.63 131.78 
Net Income (Loss) (g) (4)
(20,477,000)(35,734,000)49,411,000 (21,971,000)23,732,000 
Adjusted Operating Income (h) (5)
4,820,000 6,482,000 51,116,000 36,600,000 53,162,000 
        
Company Selected Measure Name       Adjusted Operating Income        
Named Executive Officers, Footnote       James R. Ray served as our President and Chief Executive Officer (CEO1) since December 2023. Robert C. Griffin served as our interim President and Chief Executive Officer (CEO2) from May-December 2023. Harold Bevis served as our President and Chief Executive Officer (CEO3) from January-May 2023, and for the full years in 2022 and 2021. Our non-CEO named executive officers (NEOs) included (a) for 2025, 2024, and 2023, Andy Cheung, Aneezal H. Mohamed, and Kristin S. Mathers; (b) Richard Tajer from January 2023-October 2024; (c) for 2022, Christopher H. Bohnert, Aneezal H. Mohamed, Richard Tajer, and Kristin S. Mathers (d) for 2021, Christopher H. Bohnert, Aneezal H. Mohamed, Richard Tajer, Kristin S. Mathers, and Douglas F. Bowen.        
Peer Group Issuers, Footnote       For each year, total shareholder return for the Company and the peer group was calculated in accordance with Item 201(e) and Item 402(v) of Regulation S-K included in rows (e) and (f), respectively. For purposes of this pay versus performance disclosure, our peer group is the "New Peer Group" as defined and used for purposes of the performance graph included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, see "Compensation Structure" for peer groups detail.(        
Adjustment To PEO Compensation, Footnote      
20252024202320222021
CEOCEO 1CEO 1CEO 1CEO 2CEO 3CEO 3CEO 3
Summary compensation table (SCT) total for CEO (reference (a) in PvP table)$3,949,428 $1,983,800 $1,894,587 $1,505,027 $1,993,663 $2,731,884 $4,229,714 
+ year-end fair value of equity awards granted in the covered year that were outstanding and unvested as of the covered year-end(64,402)— 1,617,992 — — — 344,098 
-/+ year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end(75,261)(655,631)— — — 141,881 1,007,005 
+vesting date fair value of equity awards granted and vested in the covered year— — — 727,976 800,890 340,558 172,049 
-/+ year-over-year change in fair value of equity awards granted in prior years that vested in the covered year(75,260)(346,742)— — 75,229 (37,541)157,569 
-fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year— — — — — — — 
+excess fair value for equity award modifications— — — — — — — 
Compensation Actually Paid to CEO (reference (b) in PvP table)$3,734,505 $981,427 $3,512,579 $2,233,003 $2,869,782 $3,176,782 $5,910,435 
        
Non-PEO NEO Average Total Compensation Amount       $ 583,610 $ 651,430 $ 1,096,559 $ 867,997 $ 819,180
Non-PEO NEO Average Compensation Actually Paid Amount       $ 697,087 614,304 1,314,495 970,114 935,837
Adjustment to Non-PEO NEO Compensation Footnote      
Average SCT total for other NEOs20252024202320222021
Summary compensation table (SCT) total for other NEOs (reference (c) in PvP table)$583,610 $651,430 $1,096,559 $867,997 $819,180 
+ year-end fair value of equity awards granted in the covered year that were outstanding and unvested as of the covered year-end96,181 34,932 115,523 102,762 99,665 
-/+ year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end(7,324)(40,152)2,084 (6,249)(7,591)
+vesting date fair value of equity awards granted and vested in the covered year41,163 49,445 98,565 38,679 76,405 
-/+ year-over-year change in fair value of equity awards granted in prior years that vested in the covered year(16,543)(66,011)1,764 (22,795)(22,988)
-fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year— (15,340)— (10,280)(28,834)
+excess fair value for equity award modifications— — — — — 
Compensation Actually Paid to other NEOs (reference (d) in PvP table)$697,087 $614,304 $1,314,495 $970,114 $935,837 
        
Compensation Actually Paid vs. Total Shareholder Return      
PVP 1.jpg
        
Compensation Actually Paid vs. Net Income      
PVP 2.jpg
        
Compensation Actually Paid vs. Company Selected Measure      
PVP 3.jpg
        
Total Shareholder Return Vs Peer Group      
PVP 1.jpg
        
Tabular List, Table      
Most Important Performance Measures
Operating Income Margin
Revenue
Operating Working Capital % of Sales
Total Stockholder Return (TSR)
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)
        
Total Shareholder Return Amount       $ 16.69 39.12 110.26 107.10 126.82
Peer Group Total Shareholder Return Amount       175.73 177.98 158.75 126.63 131.78
Net Income (Loss)       $ (20,477,000) $ (35,734,000) $ 49,411,000 $ (21,971,000) $ 23,732,000
Company Selected Measure Amount       4,820,000 6,482,000 51,116,000 36,600,000 53,162,000
PEO Name James R. Ray Harold Bevis Robert C. Griffin James R. Ray James R. Ray   Harold Bevis Harold Bevis
Additional 402(v) Disclosure      
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K (the "PvP Rules"), we are presenting the following information about the relationship between executive compensation actually paid and the Company's financial performance.

We disclose below pay versus performance information, including the relationship between executive compensation actually paid, as calculated by SEC rules, and the Company performance.
For each year, the values included in these columns for the compensation actually paid to our CEO1, CEO2, and CEO3 and the average compensation actually paid to our non-CEO NEOs reflect the following adjustments to the values included in rows (b) and (d), respectively.(Net Income (Loss) is rounded to the nearest thousand and included in row (g). Net Loss for the year ended December 31, 2025 included retrospective changes for discontinued operations reported in our 2025 Form 10-K filed on March 10, 2026.(
The following graphical comparisons describe the relationships between certain figures included in the Pay Versus Performance Table for each of 2025, 2024, 2023, 2022, and 2021, including: (a) a comparison between our cumulative total shareholder return and the total shareholder return of the Peer Group; and (b) comparisons between (i) the compensation actually paid to the CEO1,CEO2, and CEO3 and the average compensation actually paid to our non-CEO NEOs and (ii) each of the performance measures set forth in column (h), (j) and (k) of the Pay Versus Performance Table.
The following table lists the financial performance measures that we believe represent the most important financial performance measures used to link compensation actually paid to our NEOs for 2025 to Company performance which is described in more detail in the CD&A under "Annual Incentive Compensation" and "Long-Term Incentive".
        
Measure:: 1                
Pay vs Performance Disclosure                
Name       Operating Income Margin        
Non-GAAP Measure Description       Adjusted Operating Income is calculated as described in Appendix B and included in row (h). Adjusted Operating Income for the year ended December 31, 2025 included retrospective changes for discontinued operations reported in our Q4 2025 earnings release filed on Form 8-K on March 10, 2026.        
Measure:: 2                
Pay vs Performance Disclosure                
Name       Revenue        
Measure:: 3                
Pay vs Performance Disclosure                
Name       Operating Working Capital % of Sales        
Measure:: 4                
Pay vs Performance Disclosure                
Name       Total Stockholder Return (TSR)        
Measure:: 5                
Pay vs Performance Disclosure                
Name       Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)        
James R. Ray [Member]                
Pay vs Performance Disclosure                
PEO Total Compensation Amount       $ 3,949,428 $ 1,983,800 $ 1,894,587    
PEO Actually Paid Compensation Amount       3,734,505 981,427 3,512,579    
Robert R. Griffin [Member]                
Pay vs Performance Disclosure                
PEO Total Compensation Amount           1,505,027    
PEO Actually Paid Compensation Amount           2,233,003    
Harold Bevis [Member]                
Pay vs Performance Disclosure                
PEO Total Compensation Amount           1,993,663 $ 2,731,884 $ 4,229,714
PEO Actually Paid Compensation Amount           2,869,782 3,176,782 5,910,435
PEO | James R. Ray [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount       (64,402) 0 1,617,992    
PEO | James R. Ray [Member] | 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       (75,261) (655,631) 0    
PEO | James R. Ray [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount       0 0 0    
PEO | James R. Ray [Member] | 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       (75,260) (346,742) 0    
PEO | James R. Ray [Member] | 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       0 0 0    
PEO | James R. Ray [Member] | Excess Fair Value For Equity Award Modifications [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount       0 0 0    
PEO | Robert R. Griffin [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount           0    
PEO | Robert R. Griffin [Member] | 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    
PEO | Robert R. Griffin [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount           727,976    
PEO | Robert R. Griffin [Member] | 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           0    
PEO | Robert R. Griffin [Member] | 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           0    
PEO | Robert R. Griffin [Member] | Excess Fair Value For Equity Award Modifications [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount           0    
PEO | Harold Bevis [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount           0 0 344,098
PEO | Harold Bevis [Member] | 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           0 141,881 1,007,005
PEO | Harold Bevis [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount           800,890 340,558 172,049
PEO | Harold Bevis [Member] | 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           75,229 (37,541) 157,569
PEO | Harold Bevis [Member] | 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           0 0 0
PEO | Harold Bevis [Member] | Excess Fair Value For Equity Award Modifications [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount           0 0 0
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       96,181 34,932 115,523 102,762 99,665
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       (7,324) (40,152) 2,084 (6,249) (7,591)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount       41,163 49,445 98,565 38,679 76,405
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       (16,543) (66,011) 1,764 (22,795) (22,988)
Non-PEO NEO | 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       0 (15,340) 0 (10,280) (28,834)
Non-PEO NEO | Excess Fair Value For Equity Award Modifications [Member]                
Pay vs Performance Disclosure                
Adjustment to Compensation, Amount       $ 0 $ 0 $ 0 $ 0 $ 0