Pay vs Performance Disclosure - USD ($)

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE

As required by Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation paid and our financial performance for each of the last five completed fiscal years to our principal executive officer (our “PEO”) and our other named executive officers (“non-PEO NEOs”). In determining the “compensation actually paid” to our named executive officers, we are required to make various adjustments to amounts that have been previously reported in the Summary Compensation Table in each such previous year, as the valuation methods for this disclosure under Item 402(v) differ from those required in reporting the compensation information in the Summary Compensation Table. For our non-PEO NEOs, compensation is reported as an average.

Pay Versus Performance Table

					Average					Value of Initial Fixed $100 Investment Based on:
Year	Summary Compensation Table Total for PEO ($)(1)		Compensation Actually Paid to PEO ($)(2)		Summary Compensation Table Total for Non-PEO NEOs ($)(3)		Average Compensation Actually Paid to Non-PEO NEOs ($)(4)			Total Shareholder Return ($)(5)		Peer Group Total Shareholder Return ($)(6)		Net Income (in thousands) ($)(7)		Adjusted EBITDA (in thousands) ($)(8)
2024		733,119		447,998		402,713		118,750			446.57		100.00		2,321		22,614
2023		687,167		1,015,128		422,179		530,294			474.28		100.30		10,071		38,779
2022		698,899		199,172		208,229		(28,884	)		282.25		88.17		15,703		49,583
2021		1,223,452		1,786,960		603,557		801,424			459.46		132.19		14,774		50,255
2020		579,950		1,216,888		320,805		543,688			254.44		101.77		6,031		39,953

(1) Our PEO in 2024, 2023, 2022, 2021 and 2020 was Cabell Lolmaugh, our Chief Executive Officer.

(2) In accordance with SEC rules, the following adjustments were made to determine the “compensation actually paid” to our PEO during the most recently completed fiscal year, which consisted solely of adjustments to the PEO’s equity awards:

Cabell Lolmaugh
	2024
Summary Compensation Table - Total Compensation	$	733,119
- grant date fair value of option and stock awards granted in the covered fiscal year		(301,737	)
+ fair value at fiscal year end of outstanding and unvested option awards and stock awards granted in the covered fiscal year		314,442
+ change in fair value at fiscal year end of all outstanding and unvested option awards and stock awards granted in prior fiscal years		(23,968	)
+ change in fair value as of the vesting date of option awards and stock awards granted in prior fiscal years that vested at the end of or during the covered fiscal year		(34,438	)
- fair value of as of prior fiscal year end of option awards and stock awards granted in prior fiscal years that failed to meet applicable vesting conditions during the covered fiscal year		(239,421	)
+ dollar value of dividends or earnings paid on option awards or stock awards in the covered fiscal year prior to vesting that are not otherwise included in total compensation		-
Total Equity Adjustments (subtotal)	$	(285,121	)
Compensation Actually Paid	$	447,998

(3) Our non-PEO NEOs for each year were as follows:

● 2023: Karla Lunan, Joe Kinder and Mark Davis

● 2022: Karla Lunan, Nancy DiMattia (until January 3, 2022), Joe Kinder and Mark Davis

● 2021: Nancy DiMattia, Joe Kinder and Mark Davis

● 2020: Nancy DiMattia, Joe Kinder and Mark Davis

(4) In accordance with SEC rules, the following adjustments were made to determine the “compensation actually paid” on average to our non-PEO NEOs during the most recently completed fiscal year:

Average Non-PEO NEOs
	2024
Summary Compensation Table - Total Compensation	$	402,713
- grant date fair value of option and stock awards granted in the covered fiscal year		(184,091	)
+ fair value at fiscal year end of outstanding and unvested option awards and stock awards granted in the covered fiscal year		121,887
+ change in fair value at fiscal year end of all outstanding and unvested option awards and stock awards granted in prior fiscal years		(7,989	)
+ change in fair value as of the vesting date of option awards and stock awards granted in prior fiscal years that vested at the end of or during the covered fiscal year		(9,508	)
- fair value of as of prior fiscal year end of option awards and stock awards granted in prior fiscal years that failed to meet applicable vesting conditions during the covered fiscal year		(204,262	)
+ dollar value of dividends or earnings paid on option awards or stock awards in the covered fiscal year prior to vesting that are not otherwise included in total compensation		-
Total Equity Adjustments (subtotal)	$	(283,963	)
Compensation Actually Paid	$	118,750

(5) An investment of $100 is assumed to have been made in our common stock as of December 31, 2019. All values assume dividends were reinvested on the date paid.

(6) We have selected the Dow Jones U.S. Furnishings Index as our peer group. An investment of $100 is assumed to have been made as of December 31, 2019. All values assume dividends were reinvested on the date paid.

(7) The dollar amounts reported represent the amount of net income for the applicable year, each as calculated in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

(8) Adjusted EBITDA is defined as net income calculated in accordance with GAAP, as adjusted for interest expense, income taxes, depreciation and amortization, and stock-based compensation expense. The Company has determined that Adjusted EBITDA is the financial performance measure that, in the Company’s assessment, represents the most important financial performance measure (that is not otherwise required to be disclosed in the Pay Versus Performance Table) used by the Company to link compensation actually paid to the Company’s named executive officers for the most recently completed year to the Company’s performance. See Appendix A for additional details regarding Adjusted EBITDA.

Company Selected Measure Name

Adjusted EBITDA

Named Executive Officers, Footnote

(1) Our PEO in 2024, 2023, 2022, 2021 and 2020 was Cabell Lolmaugh, our Chief Executive Officer.

(3) Our non-PEO NEOs for each year were as follows:

● 2023: Karla Lunan, Joe Kinder and Mark Davis

● 2022: Karla Lunan, Nancy DiMattia (until January 3, 2022), Joe Kinder and Mark Davis

● 2021: Nancy DiMattia, Joe Kinder and Mark Davis

● 2020: Nancy DiMattia, Joe Kinder and Mark Davis

Peer Group Issuers, Footnote

(6)We have selected the Dow Jones U.S. Furnishings Index as our peer group. An investment of $100 is assumed to have been made as of December 31, 2019.

PEO Total Compensation Amount

$ 733,119

$ 687,167

$ 698,899

$ 1,223,452

$ 579,950

PEO Actually Paid Compensation Amount

$ 447,998

1,015,128

199,172

1,786,960

1,216,888

Adjustment To PEO Compensation, Footnote

(2) In accordance with SEC rules, the following adjustments were made to determine the “compensation actually paid” to our PEO during the most recently completed fiscal year, which consisted solely of adjustments to the PEO’s equity awards:

Cabell Lolmaugh
	2024
Summary Compensation Table - Total Compensation	$	733,119
- grant date fair value of option and stock awards granted in the covered fiscal year		(301,737	)
+ fair value at fiscal year end of outstanding and unvested option awards and stock awards granted in the covered fiscal year		314,442
+ change in fair value at fiscal year end of all outstanding and unvested option awards and stock awards granted in prior fiscal years		(23,968	)
+ change in fair value as of the vesting date of option awards and stock awards granted in prior fiscal years that vested at the end of or during the covered fiscal year		(34,438	)
- fair value of as of prior fiscal year end of option awards and stock awards granted in prior fiscal years that failed to meet applicable vesting conditions during the covered fiscal year		(239,421	)
+ dollar value of dividends or earnings paid on option awards or stock awards in the covered fiscal year prior to vesting that are not otherwise included in total compensation		-
Total Equity Adjustments (subtotal)	$	(285,121	)
Compensation Actually Paid	$	447,998

Non-PEO NEO Average Total Compensation Amount

$ 402,713

422,179

208,229

603,557

320,805

Non-PEO NEO Average Compensation Actually Paid Amount

$ 118,750

530,294

(28,884)

801,424

543,688

Adjustment to Non-PEO NEO Compensation Footnote

(4) In accordance with SEC rules, the following adjustments were made to determine the “compensation actually paid” on average to our non-PEO NEOs during the most recently completed fiscal year:

Average Non-PEO NEOs
	2024
Summary Compensation Table - Total Compensation	$	402,713
- grant date fair value of option and stock awards granted in the covered fiscal year		(184,091	)
+ fair value at fiscal year end of outstanding and unvested option awards and stock awards granted in the covered fiscal year		121,887
+ change in fair value at fiscal year end of all outstanding and unvested option awards and stock awards granted in prior fiscal years		(7,989	)
+ change in fair value as of the vesting date of option awards and stock awards granted in prior fiscal years that vested at the end of or during the covered fiscal year		(9,508	)
- fair value of as of prior fiscal year end of option awards and stock awards granted in prior fiscal years that failed to meet applicable vesting conditions during the covered fiscal year		(204,262	)
+ dollar value of dividends or earnings paid on option awards or stock awards in the covered fiscal year prior to vesting that are not otherwise included in total compensation		-
Total Equity Adjustments (subtotal)	$	(283,963	)
Compensation Actually Paid	$	118,750

Compensation Actually Paid vs. Total Shareholder Return

 

Compensation Actually Paid vs. Net Income

 

Compensation Actually Paid vs. Company Selected Measure

 

Total Shareholder Return Vs Peer Group

Company total shareholder return and per group total shareholder return

The table below demonstrates the relationship between (i) the Company’s total shareholder return and (ii) the weighted total shareholder return of the Company’s peer group disclosed in footnote (6) to the Pay Versus Performance Table above, for the period beginning on December 31, 2019 and ending on December 31, 2024.

 

Tabular List, Table

Financial Performance Measures

As described in greater detail under the caption “Executive Compensation-Compensation Discussion and Analysis,” performance-based pay constitutes the most significant portion of target total direct compensation for the Company’s senior executives. In our assessment, the financial performance measures selected for use in the 2024 annual cash incentive plan and long-term equity incentive awards represent the most important financial performance measures used by the Company to link compensation actually paid to the Company’s named executive officers during 2024 to the Company’s performance. These measures consist of:

● Adjusted EBITDA

● Pretax Return on Capital Employed

See “Executive Compensation-Compensation Discussion and Analysis” for additional details on how each of the financial performance measures listed above were used in the Company’s 2024 executive compensation program.

Total Shareholder Return Amount

$ 446.57

474.28

282.25

459.46

254.44

Peer Group Total Shareholder Return Amount

100

100.3

88.17

132.19

101.77

Net Income (Loss)

$ 2,321,000

$ 10,071,000

$ 15,703,000

$ 14,774,000

$ 6,031,000

Company Selected Measure Amount

22,614,000

38,779,000

49,583,000

50,255,000

39,953,000

PEO Name

Cabell Lolmaugh

Measure:: 1

Pay vs Performance Disclosure

Name

Adjusted EBITDA

Non-GAAP Measure Description

(8) Adjusted EBITDA is defined as net income calculated in accordance with GAAP, as adjusted for interest expense, income taxes, depreciation and amortization, and stock-based compensation expense. The Company has determined that Adjusted EBITDA is the financial performance measure that, in the Company’s assessment, represents the most important financial performance measure (that is not otherwise required to be disclosed in the Pay Versus Performance Table) used by the Company to link compensation actually paid to the Company’s named executive officers for the most recently completed year to the Company’s performance. See Appendix A for additional details regarding Adjusted EBITDA.

Measure:: 2

Pay vs Performance Disclosure

Name

Pretax Return on Capital Employed

PEO | Equity Awards Adjustments

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (285,121)

PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(301,737)

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

314,442

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

(23,968)

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

(34,438)

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

(239,421)

PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

Non-PEO NEO | Equity Awards Adjustments

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(283,963)

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

(184,091)

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

121,887

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

(7,989)

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

(9,508)

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

(204,262)

Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount