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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

Pay versus Performance Table

 

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 under the Securities Act, we are providing the following information about the relationship between “compensation actually paid,” herein referred to as “CAP” to our Chief Executive Officer and our other named executive officers (“NEOs”) as compared to the Company’s total shareholder return and our GAAP net income. As we are a Smaller Reporting Company, the following table provides compensation and performance information for the past three fiscal years. 

 

2025 Pay Versus Performance Table

 

Fiscal Year

 

Summary

Compensation

Table Total for

CEO

   

Compensation

Actually Paid to

CEO (2)

   

Average

Summary

Compensation

Table Total for

Non-CEO NEOs (1)

   

Average

Compensation

Actually Paid to

Non-CEO NEOs (1)(2)

   

Total Shareholder Return (Value of Initial Fixed $100 Investment) (3)

   

Net Income (Loss) (4)

 

2025

  $ 2,449,771     $ (1,357,276 )   $ 1,677,263     $ 236,479     $ 35.5     $ (32,309,000 )

2024

  $ 2,127,797     $ 2,555,718     $ 1,052,576     $ 1,041,268     $ 94.9     $ (39,010,000 )

2023

  $ 2,350,618     $ 5,126,883     $ 1,014,657     $ 1,678,725     $ 91.5     $ (45,959,000 )

 


 

(1)

The non-CEO NEOs for each applicable year are as follows:

 

-2025: Charles Beck, Carle Quinn, George Karamanos, and Tony Rodriguez

 

-2024: Charles Beck, Tom Benton, George Karamanos, and Tony Rodriguez

 

-2023: Charles Beck, Joel Meyer, Tony Rodriguez, and Ken Sickles

 

 

 

(2)

The SEC rules require that certain adjustments be made to the Summary Compensation Table (“SCT”) totals to determine CAP, as reported in the Pay versus Performance table above. The table below details the applicable adjustments that were made to determine CAP.

 

 

(3)

Cumulative indexed TSR is measured using the closing price as of a base date of December 31, 2022.

 

 

(4)

Net Income (Loss) reflects GAAP net income (loss), as disclosed in our financial statements.

   
PEO Total Compensation Amount $ 2,449,771 $ 2,127,797 $ 2,350,618
PEO Actually Paid Compensation Amount $ (1,357,276) 2,555,718 5,126,883
Adjustment To PEO Compensation, Footnote

Adjustments to Calculate CAP from SCT Pay

 

               

Equity Awards

         

Fiscal Year

 

Executives

 

SCT Total Pay

   

Deduct SCT Stock & Option Awards

   

Add Year-End Value of Unvested Equity Granted in Year

   

Add Change in Value of Unvested Awards Granted in Prior Years

   

Add Change in Value of Vested Equity Granted in Year

   

Add Change in Value of Vested Equity Granted in Prior Years

   

Add Change in Value of Awards Not Meeting Vesting Conditions

   

Total CAP

 

2025

 

CEO

  $ 2,449,771     $ (1,662,931 )   $ 630,851     $ (2,296,493 )   $     $ (478,474 )   $     $ (1,357,276 )
   

Other NEOs (avg)

  $ 1,677,263     $ (1,137,518 )   $ 491,353     $ (625,168 )   $ (36,858 )   $ (132,592 )   $     $ 236,479  

2024

 

CEO

  $ 2,127,797     $ (1,393,981 )   $ 1,624,988     $ 196,914     $     $     $     $ 2,555,718  
   

Other NEOs (avg)

  $ 1,052,576     $ (487,850 )   $ 459,935     $ 16,129     $ 28,917     $ (28,440 )   $     $ 1,041,268  

2023

 

CEO

  $ 2,350,618     $ (1,375,518 )   $ 3,192,488     $ 949,843     $     $ 9,452     $     $ 5,126,883  
   

Other NEOs (avg)

  $ 1,014,657     $ (411,547 )   $ 757,445     $ 180,643     $ 64,607     $ 72,919     $     $ 1,678,725  

 

 

   
Non-PEO NEO Average Total Compensation Amount $ 1,677,263 1,052,576 1,014,657
Non-PEO NEO Average Compensation Actually Paid Amount $ 236,479 1,041,268 1,678,725
Adjustment to Non-PEO NEO Compensation Footnote

Adjustments to Calculate CAP from SCT Pay

 

               

Equity Awards

         

Fiscal Year

 

Executives

 

SCT Total Pay

   

Deduct SCT Stock & Option Awards

   

Add Year-End Value of Unvested Equity Granted in Year

   

Add Change in Value of Unvested Awards Granted in Prior Years

   

Add Change in Value of Vested Equity Granted in Year

   

Add Change in Value of Vested Equity Granted in Prior Years

   

Add Change in Value of Awards Not Meeting Vesting Conditions

   

Total CAP

 

2025

 

CEO

  $ 2,449,771     $ (1,662,931 )   $ 630,851     $ (2,296,493 )   $     $ (478,474 )   $     $ (1,357,276 )
   

Other NEOs (avg)

  $ 1,677,263     $ (1,137,518 )   $ 491,353     $ (625,168 )   $ (36,858 )   $ (132,592 )   $     $ 236,479  

2024

 

CEO

  $ 2,127,797     $ (1,393,981 )   $ 1,624,988     $ 196,914     $     $     $     $ 2,555,718  
   

Other NEOs (avg)

  $ 1,052,576     $ (487,850 )   $ 459,935     $ 16,129     $ 28,917     $ (28,440 )   $     $ 1,041,268  

2023

 

CEO

  $ 2,350,618     $ (1,375,518 )   $ 3,192,488     $ 949,843     $     $ 9,452     $     $ 5,126,883  
   

Other NEOs (avg)

  $ 1,014,657     $ (411,547 )   $ 757,445     $ 180,643     $ 64,607     $ 72,919     $     $ 1,678,725  

 

 

   
Compensation Actually Paid vs. Total Shareholder Return

 

graph02.jpg

 

 

graph03.jpg

 

 

   
Compensation Actually Paid vs. Net Income

Relationship Between Compensation Actually Paid and Performance Measures

 

graph01.jpg

 

   
Total Shareholder Return Amount $ 35.5 94.9 91.5
Net Income (Loss) (32,309,000) (39,010,000) (45,959,000)
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (1,662,931) (1,393,981) (1,375,518)
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 630,851 1,624,988 3,192,488
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 (2,296,493) 196,914 949,843
PEO | 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 | 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 (478,474) 0 9,452
PEO | 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
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 (1,137,518) (487,850) (411,547)
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 491,353 459,935 757,445
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 (625,168) 16,129 180,643
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (36,858) 28,917 64,607
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 (132,592) (28,440) 72,919
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 $ 0 $ 0