XML 24 R2.htm IDEA: XBRL DOCUMENT v3.26.1
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 (PVP)
The following table and related disclosures provide information about the relationship between compensation actually paid to our Named Executive Officers (“NEOs”) and certain financial performance metrics of the Company pursuant to an SEC-prescribed methodology, which is different from the SEC-prescribed methodology required for the Summary Compensation Table and related disclosures.
2025 PAY VERSUS PERFORMANCE
Year
Summary
Compensation
Table Total
for PEO(1)
Compensation
Actually Paid to
PEO(1)(2)
Average
Summary
Compensation
Table Total
for Non-PEO
Named
Executive
Officers(1)
Average
Compensation
Actually Paid
to Non-PEO
Named
Executive
Officers(1)(2)
Value of
Initial Fixed
$100
Investment
Based On:
Total
Shareholder
Return(3)
Net
Income (Loss)
(Thousands)
($)
(a)
(b)
(c)
(d)
(e)
(f)
(h)
2025
$2,920,512
$2,846,224
$1,109,760
$1,002,394
$278.41
$7,419
2024
$3,075,320
$3,628,621
$1,094,998
$1,285,292
$277.89
$42,843
2023
$2,857,653
$5,154,361
$1,030,107
$1,694,018
$227.17
$(1,199)
(1)
John F. Kasel served as our PEO for the full years of 2023, 2024 and 2025. The Non-PEO Named Executive Officers (the “Non-PEO NEOs”) reflected in columns (d) and (e) include the following individuals: Patrick J. Guinee (2023, 2024 and 2025), Brian H. Kelly (2023, 2024 and 2025), Gregory W. Lippard (2024 and 2025), William M. Thalman (2023, 2024 and 2025), and William F. Treacy, Jr. (2023).
(2)
The following amounts were deducted from / added to Summary Compensation Table (“SCT”) total compensation in accordance with the SEC-mandated adjustments to calculate compensation actually paid (“CAP”) to our PEO and average CAP to our non-PEO NEOs for 2025.
PEO SCT Total to CAP Reconciliation
Fiscal Year
2025
SCT Total
$​2,920,512
- SCT “Stock Awards” column value
$(1,319,357)
- SCT “Option Awards” column value
$0
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Equity Awards Granted in Fiscal Year
$1,691,467
+/- Change in Fair Value of Equity Awards Granted in Prior Fiscal Years That Are Outstanding and Unvested as of the Covered Year-End
$166,036
+ Fair Value at Vesting of Equity Awards Granted in Fiscal Year That Vested During Fiscal Year
$0
+/- Change in Fair Value as of Vesting Date of Equity Awards Granted in Prior Fiscal Years That Vested During Fiscal Year
$(33,736)
- Fair Value as of Prior Fiscal Year-End of Equity Awards Granted in Prior Fiscal Years That Failed to Vest During Fiscal Year
$(578,698)
+ Dollar Value of Dividends/Earnings Paid Prior to the Vesting Date on Equity Awards in the Covered Year
$0
+ Excess Fair Value for Equity Award Modifications
$0
Compensation Actually Paid
$2,846,224
Non-PEO NEO Average SCT Total to Average CAP Reconciliation
Fiscal Year
2025
Average SCT Total
$1,109,760
- SCT “Stock Awards” column value
$(329,840)
- SCT “Option Awards” column value
$0
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Equity Awards Granted in Fiscal Year
$327,953
+/- Change in Fair Value of Equity Awards Granted in Prior Fiscal Years That Are Outstanding and Unvested as of the Covered Year-End
$32,126
+ Fair Value at Vesting of Equity Awards Granted in Fiscal Year That Vested During Fiscal Year
$46,300
+/- Change in Fair Value as of Vesting Date of Equity Awards Granted in Prior Fiscal Years That Vested During Fiscal Year
$(6,689)
- Fair Value as of Prior Fiscal Year-End of Equity Awards Granted in Prior Fiscal Years That Failed to Vest During Fiscal Year
$(177,216)
+ Dollar Value of Dividends/Earnings Paid Prior to the Vesting Date on Equity Awards in the Covered Year
$0
+ Excess Fair Value for Equity Award Modifications
$0
Compensation Actually Paid
$1,002,394
(3)
Total shareholder return for the Company was calculated as the yearly percentage change in cumulative total shareholder return based on a deemed fixed investment of $100 at market close on December 31, 2022 and in accordance with Item 402(v) of Regulation S-K.
   
Named Executive Officers, Footnote
(1)
John F. Kasel served as our PEO for the full years of 2023, 2024 and 2025. The Non-PEO Named Executive Officers (the “Non-PEO NEOs”) reflected in columns (d) and (e) include the following individuals: Patrick J. Guinee (2023, 2024 and 2025), Brian H. Kelly (2023, 2024 and 2025), Gregory W. Lippard (2024 and 2025), William M. Thalman (2023, 2024 and 2025), and William F. Treacy, Jr. (2023).
   
PEO Total Compensation Amount $ 2,920,512 $ 3,075,320 $ 2,857,653
PEO Actually Paid Compensation Amount $ 2,846,224 3,628,621 5,154,361
Adjustment To PEO Compensation, Footnote
(2)
The following amounts were deducted from / added to Summary Compensation Table (“SCT”) total compensation in accordance with the SEC-mandated adjustments to calculate compensation actually paid (“CAP”) to our PEO and average CAP to our non-PEO NEOs for 2025.
PEO SCT Total to CAP Reconciliation
Fiscal Year
2025
SCT Total
$​2,920,512
- SCT “Stock Awards” column value
$(1,319,357)
- SCT “Option Awards” column value
$0
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Equity Awards Granted in Fiscal Year
$1,691,467
+/- Change in Fair Value of Equity Awards Granted in Prior Fiscal Years That Are Outstanding and Unvested as of the Covered Year-End
$166,036
+ Fair Value at Vesting of Equity Awards Granted in Fiscal Year That Vested During Fiscal Year
$0
+/- Change in Fair Value as of Vesting Date of Equity Awards Granted in Prior Fiscal Years That Vested During Fiscal Year
$(33,736)
- Fair Value as of Prior Fiscal Year-End of Equity Awards Granted in Prior Fiscal Years That Failed to Vest During Fiscal Year
$(578,698)
+ Dollar Value of Dividends/Earnings Paid Prior to the Vesting Date on Equity Awards in the Covered Year
$0
+ Excess Fair Value for Equity Award Modifications
$0
Compensation Actually Paid
$2,846,224
   
Non-PEO NEO Average Total Compensation Amount $ 1,109,760 1,094,998 1,030,107
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,002,394 1,285,292 1,694,018
Adjustment to Non-PEO NEO Compensation Footnote
(2)
The following amounts were deducted from / added to Summary Compensation Table (“SCT”) total compensation in accordance with the SEC-mandated adjustments to calculate compensation actually paid (“CAP”) to our PEO and average CAP to our non-PEO NEOs for 2025.
Non-PEO NEO Average SCT Total to Average CAP Reconciliation
Fiscal Year
2025
Average SCT Total
$1,109,760
- SCT “Stock Awards” column value
$(329,840)
- SCT “Option Awards” column value
$0
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Equity Awards Granted in Fiscal Year
$327,953
+/- Change in Fair Value of Equity Awards Granted in Prior Fiscal Years That Are Outstanding and Unvested as of the Covered Year-End
$32,126
+ Fair Value at Vesting of Equity Awards Granted in Fiscal Year That Vested During Fiscal Year
$46,300
+/- Change in Fair Value as of Vesting Date of Equity Awards Granted in Prior Fiscal Years That Vested During Fiscal Year
$(6,689)
- Fair Value as of Prior Fiscal Year-End of Equity Awards Granted in Prior Fiscal Years That Failed to Vest During Fiscal Year
$(177,216)
+ Dollar Value of Dividends/Earnings Paid Prior to the Vesting Date on Equity Awards in the Covered Year
$0
+ Excess Fair Value for Equity Award Modifications
$0
Compensation Actually Paid
$1,002,394
   
Compensation Actually Paid vs. Total Shareholder Return
The chart below illustrates the relationship between the PEO and Non-PEO NEOs’ CAP amounts and the Company’s TSR during the period 2023-2025.
   
Compensation Actually Paid vs. Net Income
The chart below illustrates the relationship between the PEO and Non-PEO NEO’s CAP amounts and the Company’s Net Income during the period 2023-2025.
   
Total Shareholder Return Amount $ 278.41 $ 277.89 $ 227.17
PEO Name John F. Kasel John F. Kasel John F. Kasel
Additional 402(v) Disclosure
Supplemental Disclosure
The charts below illustrate the relationship between the PEO and other NEOs’ SCT Total Compensation, total shareholder return, and CAP amounts during the period 2023-2025. This relationship reflects the impact of changes in the Company’s stock price performance on the amount of Compensation Actually Paid in each year in relation to the amount reported in the Summary Compensation Table for the PEO and other NEOs.
   
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 7,419,000 $ 42,843,000 $ (1,199,000)
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 1,691,467    
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 166,036    
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 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 (33,736)    
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 (578,698)    
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 0    
PEO | SCT “Stock Awards” column value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (1,319,357)    
PEO | SCT “Option Awards” column value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
PEO | Excess Fair Value for Equity Award Modifications [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 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 327,953    
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 32,126    
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 46,300    
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 (6,689)    
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 (177,216)    
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 0    
Non-PEO NEO | SCT “Stock Awards” column value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (329,840)    
Non-PEO NEO | SCT “Option Awards” column value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Non-PEO NEO | Excess Fair Value for Equity Award Modifications [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0