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PRE 14A
MATINAS BIOPHARMA HOLDINGS, INC.
true
<table cellpadding="0" cellspacing="0" id="xdx_889_eecd--PvpTableTextBlock_zBqqTX5f64Nd" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto" summary="xdx: Disclosure - Pay vs Performance Disclosure">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year</td><td style="text-align: center; padding-bottom: 1pt"> </td>
<td colspan="2" id="xdx_488_eecd--PeoTotalCompAmt_hecd--IndividualAxis__custom--JeromeJabbourMember_z0n7aczQpwnf" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>Summary
Compensation Table Total for Jerome Jabbour<sup id="xdx_F55_ztAgYuB2GJpb">1</sup></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>($)</b></p></td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td>
<td colspan="2" id="xdx_488_eecd--PeoActuallyPaidCompAmt_hecd--IndividualAxis__custom--JeromeJabbourMember_zSRqrTks7jY7" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>Compensation
Actually Paid to Jerome Jabbour<sup id="xdx_F56_zXv2qdx20eU5">1, 2, 3</sup></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>($)</b></p></td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td>
<td colspan="2" id="xdx_48F_eecd--NonPeoNeoAvgTotalCompAmt_zHeELbnkIpCi" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>Average
Summary Compensation Table Total for Non-PEO NEOs<sup id="xdx_F51_zlVRBhc4kQcg">1</sup></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>($)</b></p></td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td>
<td colspan="2" id="xdx_486_eecd--NonPeoNeoAvgCompActuallyPaidAmt_zG8Ry4U3XKA7" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>Average
Compensation Actually Paid to Non-PEO NEOs<sup id="xdx_F55_zUBxkhYXwOx4">1,2,3</sup></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>($)</b></p></td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td>
<td colspan="2" id="xdx_486_eecd--TotalShareholderRtnAmt_pp2d_zgpjlapgVlAa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>Value
of Initial Fixed $100 Investment based on:<sup id="xdx_F5B_zvSgipx3ZqD">4</sup></b></span></td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td>
<td colspan="2" id="xdx_480_eus-gaap--NetIncomeLoss_pn6n6_zVlKuNQQHpU5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net Income ($ Millions)</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td><td style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td>
<td colspan="2" style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td><td style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td><td style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td>
<td colspan="2" style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td><td style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td><td style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td>
<td colspan="2" style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td><td style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td><td style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td>
<td colspan="2" style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td><td style="text-align: center; padding-bottom: 1pt; font-size: 12pt"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">TSR ($)</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td>
<td colspan="2" style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td></tr>
<tr id="xdx_41A_20240101__20241231_zbarE1TuMEFc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 34%; text-align: center; padding-left: 5.4pt">2024</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">598,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">627,231</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">586,920</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">590,057</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">1.01</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">(24</td><td style="width: 1%; text-align: left">)</td></tr>
<tr id="xdx_415_20230101__20231231_zvqi85Vt7Mib" style="vertical-align: bottom; background-color: White">
<td style="text-align: center; padding-left: 5.4pt">2023</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,599,551</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">843,210</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">865,960</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">596,208</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">21.41</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(23</td><td style="text-align: left">)</td></tr>
<tr id="xdx_417_20220101__20221231_zuVFXecJPtmj" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: center; padding-left: 5.4pt">2022</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,674,207</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">325,448</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">859,639</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">392,816</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">49.50</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(21</td><td style="text-align: left">)</td></tr>
</table>
598000
627231
586920
590057
1.01
-24000000
1599551
843210
865960
596208
21.41
-23000000
1674207
325448
859639
392816
49.50
-21000000
<p id="xdx_893_eecd--NamedExecutiveOfficersFnTextBlock_dU_zAuNGrZIhKA5" style="display: none; margin-top: 0; margin-bottom: 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
<span id="xdx_906_eecd--PeoName_c20240101__20241231_zO7oEsuOfdO7"><span id="xdx_902_eecd--PeoName_c20230101__20231231_zL7vmnD7c3We"><span id="xdx_90C_eecd--PeoName_c20220101__20221231_zY2xz52DRmQ6">Jerome Jabbour</span></span></span> was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for 2022 and 2023 were James Ferguson
and Theresa Matkovits. For 2024, the Non-PEO NEOs were James Ferguson and Keith Kucinski.</span></p>
Jerome Jabbour
Jerome Jabbour
Jerome Jabbour
<p id="xdx_89A_eecd--Additional402vDisclosureTextBlock_dU_zFI3IhGLa6E6" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect
compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table
Total with certain adjustments as described in footnote 3 below.</span></p>
<p id="xdx_89D_eecd--AdjToPeoCompFnTextBlock_dU_ztMqVixGUhxe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below.
Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Option Awards column are the totals from
the Option Awards column set forth in the Summary Compensation Table.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year</td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
Compensation Table Total for Jerome Jabbour</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exclusion
of Option Awards for Jerome Jabbour</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inclusion
of Equity Values for Jerome Jabbour</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
Actually Paid to Jerome Jabbour</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 36%; text-align: center; padding-bottom: 1pt">2024</td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_986_eecd--PeoTotalCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--JeromeJabbourMember_z6HENCFmXv8a" style="border-bottom: Black 1pt solid; width: 12%; text-align: right">598,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98A_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--JeromeJabbourMember__ecd--AdjToCompAxis__custom--ExclusionOfOptionAwardsMember_z43MCoVCmcz8" style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0048">—</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_989_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--JeromeJabbourMember__ecd--AdjToCompAxis__custom--InclusionOfEquityValuesMember_zVmkGvXS9MC1" style="border-bottom: Black 1pt solid; width: 12%; text-align: right">29,231</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98F_eecd--PeoActuallyPaidCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--JeromeJabbourMember_zn6tyMVt4Tlg" style="border-bottom: Black 1pt solid; width: 12%; text-align: right">627,231</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year</td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average
Summary Compensation Table Total for Non-PEO NEOs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average
Exclusion of Stock Awards for Non-PEO NEOs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average
Inclusion of Equity Values for Non-PEO NEOs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average
Compensation Actually Paid to Non-PEO NEOs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 36%; text-align: center; padding-bottom: 1pt">2024</td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98A_eecd--NonPeoNeoAvgTotalCompAmt_c20240101__20241231_zR1qSaDbFDB6" style="border-bottom: Black 1pt solid; width: 12%; text-align: right">586,920</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98C_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AverageExclusionOfOptionAwardsMember_zG2ibA7Ruylh" style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0052">—</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98B_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AverageInclusionOfEquityValuesMember_z4cvINajdXy6" style="border-bottom: Black 1pt solid; width: 12%; text-align: right">3,137</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_989_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20240101__20241231_zufi9MG51OYb" style="border-bottom: Black 1pt solid; width: 12%; text-align: right">590,057</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr>
</table>
598000
29231
627231
586920
3137
590057
<p id="xdx_89E_eecd--EquityValuationAssumptionDifferenceFnTextBlock_dU_zLUhQtkG3i76" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year</td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year-End
Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of
Year for Jerome Jabbour</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Change
in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for
Jerome Jabbour</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vesting-Date
Fair Value of Equity Awards Granted During Year that Vested During Year for Jerome Jabbour</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Change
in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that
Vested During Year for Jerome Jabbour</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair
Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Jerome Jabbour</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total
- Inclusion of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Values for Jerome Jabbour</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 22%; text-align: center; padding-bottom: 1pt">2024</td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98B_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--JeromeJabbourMember__ecd--AdjToCompAxis__custom--YearEndFairValueOfEquityAwardsGrantedDuringYearThatRemainedUnvestedAsOfLastDayMember_zMHiz9WUBDCl" style="border-bottom: Black 1pt solid; width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0057">—</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98E_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--JeromeJabbourMember__ecd--AdjToCompAxis__custom--ChangeinFairValuefromLastDayOfPriorYearToLastDayOfYearOfUnvestedEquityAwardsMember_zrEjrHMCjxU9" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">17,651</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_988_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--JeromeJabbourMember__ecd--AdjToCompAxis__custom--VestingDateFairValueOfEquityAwardsGrantedDuringYearThatVestedDuringYearMember_zDY0vVZ0wUql" style="border-bottom: Black 1pt solid; width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0059">—</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--JeromeJabbourMember__ecd--AdjToCompAxis__custom--ChangeInFairValueFromLastDayOfPriorYearToVestingDateOfUnvestedEquityAwardsThatVestedDuringYearMember_z8hpPkTli5Xc" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">11,580</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_985_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--JeromeJabbourMember__ecd--AdjToCompAxis__custom--FairValueAtLastDayOfPriorYearOfEquityAwardsForfeitedDuringYearMember_zquux1JQhBRi" style="border-bottom: Black 1pt solid; width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0061">—</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_981_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__custom--JeromeJabbourMember__ecd--AdjToCompAxis__custom--TotalInclusionOfEquityValuesMember_zfVpZ2uI5aE4" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">29,231</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year</td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average
Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last
Day of Year for Non-PEO NEOs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average
Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards
for Non-PEO NEOs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average
Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for
Non-PEO NEOs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average
Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards
that Vested During Year for Non-PEO NEOs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average
Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Non-PEO NEOs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total
- Average Inclusion of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Values for Non-PEO NEOs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>($)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 22%; text-align: center; padding-bottom: 1pt">2024</td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98E_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AverageYearEndFairValueOfEquityAwardsGrantedDuringYearThatRemainedUnvestedAsOfLastDayMember_zIWD4LoO3E0j" style="border-bottom: Black 1pt solid; width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0063">—</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98A_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AverageChangeinFairValuefromLastDayOfPriorYearToLastDayOfYearOfUnvestedEquityAwardsMember_zQx02vgiIsOd" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">2,521</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_988_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AverageVestingDateFairValueOfEquityAwardsGrantedDuringYearThatVestedDuringYearMember_zKBT0fGsbWb" style="border-bottom: Black 1pt solid; width: 9%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0065">—</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_985_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AverageChangeInFairValueFromLastDayOfPriorYearToVestingDateOfUnvestedEquityAwardsThatVestedDuringYearMember_zCjPrBwOTxF4" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">2,931</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98C_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--AverageFairValueAtLastDayOfPriorYearOfEquityAwardsForfeitedDuringYearMember_zd46cbfWYMQf" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">(2,315</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_988_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--TotalAverageInclusionOfEquityValuesMember_z7dW3zpaRSxl" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">3,137</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr>
</table>
17651
11580
29231
2521
2931
-2315
3137
<p id="xdx_89A_eecd--CompActuallyPaidVsTotalShareholderRtnTextBlock_dU_z8rXov5FfIhb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Relationship
Between PEO and Non-PEO NEO Compensation Actually Paid and Total Shareholder Return (“TSR”)</i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid
to our Non-PEO NEOs, and the cumulative TSR over the three most recently completed fiscal years for the Company.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><img alt="" src="formpre14a_001.jpg"/></p>
<p id="xdx_891_eecd--CompActuallyPaidVsNetIncomeTextBlock_dU_z6xwNbn021m9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Relationship
Between PEO and Non-PEO NEO Compensation Actually Paid and Net Income</i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid
to our Non-PEO NEOs, and our net income during the three most recently completed fiscal years.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><img alt="" src="formpre14a_002.jpg"/></p>