0000315545 2024-01-01 2024-12-31 0000315545 2023-01-01 2023-12-31 0000315545 2022-01-01 2022-12-31 0000315545 ecd:PeoMember 2024-01-01 2024-12-31 0000315545 ecd:PeoMember 2023-01-01 2023-12-31 0000315545 ecd:PeoMember 2022-01-01 2022-12-31 0000315545 ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0000315545 ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000315545 ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0000315545 PVCT:GrantDateFairValueOfEquityAwardsGrantedDuringTheYearMember ecd:PeoMember 2024-01-01 2024-12-31 0000315545 PVCT:GrantDateFairValueOfEquityAwardsGrantedDuringTheYearMember ecd:PeoMember 2023-01-01 2023-12-31 0000315545 PVCT:GrantDateFairValueOfEquityAwardsGrantedDuringTheYearMember ecd:PeoMember 2022-01-01 2022-12-31 0000315545 PVCT:GrantDateFairValueOfEquityAwardsGrantedDuringTheYearMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0000315545 PVCT:GrantDateFairValueOfEquityAwardsGrantedDuringTheYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000315545 PVCT:GrantDateFairValueOfEquityAwardsGrantedDuringTheYearMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0000315545 PVCT:ForAwardsGrantedAndVestInSameYearTheFairValueAsVestingDateMember ecd:PeoMember 2024-01-01 2024-12-31 0000315545 PVCT:ForAwardsGrantedAndVestInSameYearTheFairValueAsVestingDateMember ecd:PeoMember 2023-01-01 2023-12-31 0000315545 PVCT:ForAwardsGrantedAndVestInSameYearTheFairValueAsVestingDateMember ecd:PeoMember 2022-01-01 2022-12-31 0000315545 PVCT:ForAwardsGrantedAndVestInSameYearTheFairValueAsVestingDateMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0000315545 PVCT:ForAwardsGrantedAndVestInSameYearTheFairValueAsVestingDateMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000315545 PVCT:ForAwardsGrantedAndVestInSameYearTheFairValueAsVestingDateMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0000315545 PVCT:YearEndFairValueOfEquityAwardsGrantedInYearUnvestedAtTheEndOfTheYearMember ecd:PeoMember 2024-01-01 2024-12-31 0000315545 PVCT:YearEndFairValueOfEquityAwardsGrantedInYearUnvestedAtTheEndOfTheYearMember ecd:PeoMember 2023-01-01 2023-12-31 0000315545 PVCT:YearEndFairValueOfEquityAwardsGrantedInYearUnvestedAtTheEndOfTheYearMember ecd:PeoMember 2022-01-01 2022-12-31 0000315545 PVCT:YearEndFairValueOfEquityAwardsGrantedInYearUnvestedAtTheEndOfTheYearMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0000315545 PVCT:YearEndFairValueOfEquityAwardsGrantedInYearUnvestedAtTheEndOfTheYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000315545 PVCT:YearEndFairValueOfEquityAwardsGrantedInYearUnvestedAtTheEndOfTheYearMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 iso4217:USD shares iso4217:USD shares pure false 0000315545 DEF 14A Provectus Biopharmaceuticals, Inc. Although the Company does not have a formal policy regarding the timing of awards of stock options, stock appreciation rights (“SARs”) and/or similar option-like instruments grants to the Company’s named executive officers, the Company does not make these awards or any other form of equity compensation in anticipation of the release of material, non-public information. Similarly, the Company does not time the release of material, non-public information based on stock option, SARs or other equity award grant dates for the purpose of affecting the value of any award to the Company’s named executive officers. false false <table cellpadding="0" cellspacing="0" id="xdx_88A_eecd--PvpTableTextBlock_z34BlrJBR8H6" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_480_eecd--PeoTotalCompAmt_z6Yb9H4bbCH4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Summary Compensation Table Total for PEO (1)(2)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_48D_eecd--PeoActuallyPaidCompAmt_zpldt5WJVXR2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Compensation Actually Paid to PEO(3)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_48D_eecd--NonPeoNeoAvgTotalCompAmt_zeEhOemzNkQ6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Average Summary Compensation Table Total for non-PEO NEO’s (1)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_483_eecd--NonPeoNeoAvgCompActuallyPaidAmt_zFY1pKSfWz2l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Average Compensation Actually Paid to non-PEO NEOs(3)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_483_eecd--TotalShareholderRtnAmt_pp2d_zXEhB35m6u89" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Value of Initial Fixed $100 Investment Based On Total Shareholder Return</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_481_eus-gaap--NetIncomeLoss_zVMneaUv94fj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net Loss</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_412_20240101__20241231_zUDJnJIRPT0i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: center">2024</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,528,567</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,532,906</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,273,701</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,277,410</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">218.18</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(4,762,137</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_411_20230101__20231231_zb3ySuzkSHal" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: center">2023</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">329,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">254,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">182,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">182,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">174.54</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,101,768</td><td style="text-align: left">)</td></tr> <tr id="xdx_41C_20220101__20221231_zcKSRxeu2zia" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td style="text-align: center">2022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">244,600</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">169,600</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">182,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">182,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">196.36</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,554,683</td><td style="text-align: left">)</td></tr> </table> 1528567 1532906 1273701 1277410 218.18

-4762137

329400 254400 182500 182500 174.54

-3101768

244600 169600 182500 182500 196.36

-3554683

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif">The principal executive officer (PEO) was Dominic Rodrigues, our president and member of the board of directors, for the second, third and fourth quarters of 2024, and Bruce Horowitz, our Former Chief Operating Officer and former member of the board of directors for first quarter of 2024, and all of 2023 and 2022. The Non-PEO NEOs are Edward Pershing, our chief executive officer and Eric Wachter, our chief technology officer in 2024 and Eric Wachter, our chief technology officer and Heather Raines, our chief financial officer in 2023 and 2022.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(2) </td> <td style="font: 10pt Times New Roman, Times, Serif">Amounts reported in these columns represent the total compensation as reported in the Summary Compensation Table for our PEO during each applicable fiscal year and the average of the total compensation as reported in the Summary Compensation Table for our remaining NEOs for the relevant fiscal year.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The table below shows the adjustments made to the compensation totals presented in the Summary Compensation Table for the NEOs in order to calculate “compensation actually paid” in accordance with Item 402(v) of Regulation S-K. Equity values are calculated in accordance with FASB ASC Topic 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of the grant.</td></tr> </table> Dominic Rodrigues <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">PEO</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Non PEO NEO Average</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Summary Compensation Table total</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eecd--PeoTotalCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--PeoMember_zCA4aKk9Km6g" style="width: 6%; text-align: right">1,528,567</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eecd--PeoTotalCompAmt_c20230101__20231231__ecd--IndividualAxis__ecd--PeoMember_zuWhqQBkXUpk" style="width: 6%; text-align: right">254,400</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eecd--PeoTotalCompAmt_c20220101__20221231__ecd--IndividualAxis__ecd--PeoMember_zU1ZlvqOBvdb" style="width: 6%; text-align: right">169,900</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eecd--NonPeoNeoAvgTotalCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember_zxVis3r3sa8" style="width: 6%; text-align: right">1,273,701</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eecd--NonPeoNeoAvgTotalCompAmt_c20230101__20231231__ecd--IndividualAxis__ecd--NonPeoNeoMember_zNAUbNY6RSVj" style="width: 6%; text-align: right">182,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eecd--NonPeoNeoAvgTotalCompAmt_c20220101__20221231__ecd--IndividualAxis__ecd--NonPeoNeoMember_zHJgS2cx7qGk" style="width: 6%; text-align: right">128,761</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Less: grant date fair value of equity awards granted during the year (1)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--GrantDateFairValueOfEquityAwardsGrantedDuringTheYearMember_fKDEp_z07KsriBx7F6" style="text-align: right">(1,206,167</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eecd--AdjToCompAmt_c20230101__20231231__ecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--GrantDateFairValueOfEquityAwardsGrantedDuringTheYearMember_fKDEp_zk8rowpR6PL" style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eecd--AdjToCompAmt_c20220101__20221231__ecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--GrantDateFairValueOfEquityAwardsGrantedDuringTheYearMember_fKDEp_zB2VAnadpywk" style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--GrantDateFairValueOfEquityAwardsGrantedDuringTheYearMember_fKDEp_z9W2Km7iUoB2" style="text-align: right">(1,031,201</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eecd--AdjToCompAmt_c20230101__20231231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--GrantDateFairValueOfEquityAwardsGrantedDuringTheYearMember_fKDEp_z7ao8E54GoAd" style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eecd--AdjToCompAmt_c20220101__20221231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--GrantDateFairValueOfEquityAwardsGrantedDuringTheYearMember_fKDEp_zI1AgKtx2Drk" style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Add: for awards that are granted and vest in the same year, the fair value as of the vesting date</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ForAwardsGrantedAndVestInSameYearTheFairValueAsVestingDateMember_zs4WqvPYGIb9" style="text-align: right">402,056</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eecd--AdjToCompAmt_c20230101__20231231__ecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ForAwardsGrantedAndVestInSameYearTheFairValueAsVestingDateMember_zB9ULKntTV0b" style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eecd--AdjToCompAmt_c20220101__20221231__ecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--ForAwardsGrantedAndVestInSameYearTheFairValueAsVestingDateMember_z3MNUmUc6ku3" style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ForAwardsGrantedAndVestInSameYearTheFairValueAsVestingDateMember_zJyqorTGfRL6" style="text-align: right">343,734</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eecd--AdjToCompAmt_c20230101__20231231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ForAwardsGrantedAndVestInSameYearTheFairValueAsVestingDateMember_zqcNv6KTsFzb" style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eecd--AdjToCompAmt_c20220101__20221231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--ForAwardsGrantedAndVestInSameYearTheFairValueAsVestingDateMember_zwj1erAJKNZ5" style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Add: year-end fair value of equity awards granted in the year that are unvested at the end of the year</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--YearEndFairValueOfEquityAwardsGrantedInYearUnvestedAtTheEndOfTheYearMember_zkcSkOC0L7n8" style="border-bottom: Black 1pt solid; text-align: right">808,450</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eecd--AdjToCompAmt_c20230101__20231231__ecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--YearEndFairValueOfEquityAwardsGrantedInYearUnvestedAtTheEndOfTheYearMember_zPSrj5WWq4Th" style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eecd--AdjToCompAmt_c20220101__20221231__ecd--IndividualAxis__ecd--PeoMember__ecd--AdjToCompAxis__custom--YearEndFairValueOfEquityAwardsGrantedInYearUnvestedAtTheEndOfTheYearMember_zHu96p6Vtsv2" style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eecd--AdjToCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--YearEndFairValueOfEquityAwardsGrantedInYearUnvestedAtTheEndOfTheYearMember_zWqO1NbjsWG7" style="border-bottom: Black 1pt solid; text-align: right">691,177</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eecd--AdjToCompAmt_c20230101__20231231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--YearEndFairValueOfEquityAwardsGrantedInYearUnvestedAtTheEndOfTheYearMember_zl2cZ1ip6LZ5" style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eecd--AdjToCompAmt_c20220101__20221231__ecd--IndividualAxis__ecd--NonPeoNeoMember__ecd--AdjToCompAxis__custom--YearEndFairValueOfEquityAwardsGrantedInYearUnvestedAtTheEndOfTheYearMember_zDtPDRapAwCb" style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Compensation Actually Paid</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eecd--PeoActuallyPaidCompAmt_c20240101__20241231__ecd--IndividualAxis__ecd--PeoMember_zFiL4qagwFli" style="border-bottom: Black 2.5pt double; text-align: right">1,532,906</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eecd--PeoActuallyPaidCompAmt_c20230101__20231231_zkVJbgY8YzW3" style="border-bottom: Black 2.5pt double; text-align: right">254,400</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eecd--PeoActuallyPaidCompAmt_c20220101__20221231__ecd--IndividualAxis__ecd--PeoMember_z0x2bJXZ0ZJd" style="border-bottom: Black 2.5pt double; text-align: right">169,900</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20240101__20241231__ecd--IndividualAxis__ecd--NonPeoNeoMember_zcUw0KQppl2h" style="border-bottom: Black 2.5pt double; text-align: right">1,277,410</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20230101__20231231__ecd--IndividualAxis__ecd--NonPeoNeoMember_zfKyzKBVuwLg" style="border-bottom: Black 2.5pt double; text-align: right">182,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eecd--NonPeoNeoAvgCompActuallyPaidAmt_c20220101__20221231__ecd--IndividualAxis__ecd--NonPeoNeoMember_z3n1MsBUKYFe" style="border-bottom: Black 2.5pt double; text-align: right">128,761</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">(1)</td><td id="xdx_F10_zgsxnAjtXI7f" style="text-align: justify">Represents the grant date fair value of the equity awards as reported in the Summary Compensation Table.</td> </tr></table> 1528567 254400 169900 1273701 182500 128761 -1206167 -1031201 402056 343734 808450 691177 1532906 254400 169900 1277410 182500 128761 We generally seek to incentivize long-term performance and therefore do not specifically align our performance measures with “compensation actually paid” (as computed in accordance with Item 402(v) of Regulation S-K) for a particular year. In accordance with Item 402(v) of Regulation S-K, we are providing the following descriptions of the relationships between information presented in the Pay Versus Performance table. Compensation Actually Paid and Net Loss and Cumulative Total Shareholder Return (“TSR”) Since we are not a commercial-stage company, we did not have net income during the periods presented. The Company’s only income recorded was related to a grant received from the State of Tennessee. Consequently, we do not look to net loss as a performance measure for our executive compensation program. Moreover, as a mid-stage pre-commercial company with no revenue, we do not believe there is any meaningful relationship between our net loss and compensation actually paid to our PEO and NEOs during the periods presented. The compensation committee does not use TSR or net loss in its compensation programs. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Compensation actually paid to PEO did not increase from 2022 to 2023 and increased $1,278,506, or 503% from 2023 to 2024 as the result of the fair value of option awards granted in 2024;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Average compensation actually paid to non-PEO NEOs did not increase from 2022 to 2023 and increased by $1,094,910, or 600% from 2023 to 2024 as the result of the fair value of option awards granted in 2024;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">TSR decreased by $21.82 or approximately 11% from $196.36 in 2022 to $174.54 in 2023. TSR increased by $43.64 or approximately 25% from $174.54 in 2023 to $218.18 in 2024.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Net loss improved by $452,915 or 12.7% from 2022 to 2023 and worsened by $1,660,369 or 53.5% from 2023 to 2024.</td></tr> </table> true Represents the grant date fair value of the equity awards as reported in the Summary Compensation Table.