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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table

Pay Versus Performance

 

Year #

 

Summary

Compensation

Table Total for

Principal

Executive

Officer

(“PEO”)

   

"Compensation

Actually Paid" to

PEO

   

Average Summary

Compensation

Table Total for

Non-PEO NEOs 1

   

Average

"Compensation

Actually Paid" to

Non-PEO Named

Executive

Officers

(“NEOs”)

   

Value of

Initial

Fixed $100

Investment

Based on

Total

Shareholder

Return

   

Net Income

(thousands $)

 

2024

    333,389       313,800       239,720       220,131       70.74       (3,135 )

2023

    710,347       354,112       300,716       279,230       102.62       1,370  

2022

    566,674       439,039       289,450       289,450       117.47       2,131  

 

 

Note 1: Non-PEO consists of Charles Griffith, Chief Financial Officer, and Daniel Barton, Vice President Operations, for 2024. 2023 and 2022 include Mr. Griffith only, but excludes the $20,000 bonus for service as acting PEO in 2023, which is included in the 2023 PEO compensation above, see note (3) to the Summary Compensation Table below.

 

Officer compensation (both named and un-named) is determined by the Board. In terms of base salary the Board considers the market for similarly situated employees at peer companies and the employee’s overall performance both individually and as it relates to the overall results. Variable compensation considers revenue and profitability during the year as they relate to the financial plan submitted to and approved by the Board prior to the beginning of the fiscal year. Compensation actually paid to the PEO and Non-PEO NEO reflects the actual salaries and other compensation plus the bonus amount accrued for during the year, but paid early in the following year. The Board elected not to consider shareholder return as a factor in results that would impact compensation.

 

 

   
PEO Total Compensation Amount $ 333,389 $ 710,347 $ 566,674
PEO Actually Paid Compensation Amount 313,800 354,112 439,039
Non-PEO NEO Average Total Compensation Amount 239,720 300,716 289,450
Non-PEO NEO Average Compensation Actually Paid Amount 220,131 279,230 289,450
Total Shareholder Return Amount 70.74 102.62 117.47
Net Income (Loss) $ (3,135,000) $ 1,370,000 $ 2,131,000