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Item 402(v) of Regulation S-K. The information set forth below was not used by the Compensation Committee in setting compensation for our named executive officers as set forth in the Summary Compensation Table. The disclosure in this section is not to be incorporated by reference in any of our filings under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing. Pay Versus Performance Table <div> <table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: "Times New Roman", Times, serif; width: 100%;"> <tbody><tr> <td style="width: 14%; text-align: center;">(a)</td> <td style="width: 15px; text-align: center;"> </td> <td colspan="2" style="width: 262px; text-align: center;">(b)</td> <td style="width: 14px; text-align: center;"> </td> <td colspan="2" style="width: 191px; text-align: center;">(c)</td> <td style="width: 13px; text-align: center;"> </td> <td colspan="2" style="width: 290px; text-align: center;">(d)</td> <td style="width: 17px; text-align: center;"> </td> <td colspan="2" style="width: 264px; text-align: center;">(e)</td> <td style="width: 16px; text-align: center;"> </td> <td colspan="2" style="width: 222px; text-align: center;">(f)</td> <td style="width: 16px; text-align: center;"> </td> <td colspan="2" style="width: 279px; text-align: center;">(g)</td> </tr> <tr> <td style="text-align: center; vertical-align: bottom; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0);">Year</td> <td style="text-align: center; vertical-align: bottom; width: 15px;"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom; width: 262px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0);"> Summary Compensation Table Total for PEO (1) </td> <td style="text-align: center; vertical-align: bottom; width: 14px;"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom; width: 191px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0);">Compensation Actually Paid to PEO (2)</td> <td style="text-align: center; vertical-align: bottom; width: 13px;"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom; width: 290px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); font-size: 10pt;">Average Summary Compensation Table Total for Non-PEO Named Executive Officers (1) </td> <td style="text-align: center; vertical-align: bottom; width: 17px;"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom; width: 264px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0); font-size: 10pt;">Average Compensation Actually Paid to Non-PEO Named Executive Officers (2)</td> <td style="text-align: center; vertical-align: bottom; width: 16px;"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom; width: 222px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0);">Value of Initial Fixed $100 Investment Based on Total Shareholder Return (3)</td> <td style="text-align: center; vertical-align: bottom; width: 16px;"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom; width: 279px; border-bottom-style: solid; border-bottom-color: rgb(0, 0, 0);">Net Income </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="text-align: center; vertical-align: bottom;">2025</td> <td style="text-align: center; vertical-align: bottom; width: 15px;"> </td> <td style="width: 18px;">$</td> <td style="width: 222px; text-align: right;">456,266</td> <td style="width: 14px; text-align: center; font-size: 8pt;"> </td> <td style="width: 15px;">$</td> <td style="width: 163px; text-align: right;">425,138</td> <td style="width: 13px; text-align: center; font-size: 8pt;"> </td> <td style="width: 17px;">$</td> <td style="width: 247px; text-align: right; font-size: 10pt;">222,080</td> <td style="width: 17px; font-size: 8pt;">(4)</td> <td style="width: 17px;">$</td> <td style="width: 225px; text-align: right;">206,866</td> <td style="width: 16px; font-size: 8pt;">(5)</td> <td style="width: 15px; text-indent: 9pt;">$</td> <td style="width: 212px; text-align: right;">70</td> <td style="width: 16px; text-align: center;"> </td> <td style="width: 15px;">$</td> <td style="width: 239px; text-align: right;">6,330,000</td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="text-align: center; vertical-align: bottom;">2024</td> <td style="text-align: center; vertical-align: bottom; width: 15px;"> </td> <td style="width: 18px;"> </td> <td style="width: 222px; text-align: right;">449,116</td> <td style="width: 14px; text-align: center; font-size: 8pt;"> </td> <td style="width: 15px;"> </td> <td style="width: 163px; text-align: right;">389,536</td> <td style="width: 13px; text-align: center; font-size: 8pt;"> </td> <td style="width: 17px;"> </td> <td style="width: 247px; text-align: right; font-size: 10pt;">274,128</td> <td style="width: 17px; font-size: 8pt;"> </td> <td style="width: 17px;"> </td> <td style="width: 225px; text-align: right;">261,440</td> <td style="width: 16px; font-size: 8pt;"> </td> <td style="width: 15px; text-indent: 9pt;"> </td> <td style="width: 212px; text-align: right;">92</td> <td style="width: 16px; text-align: center;"> </td> <td style="width: 15px;"> </td> <td style="width: 239px; text-align: right;">3,672,000</td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="text-align: center; vertical-align: bottom;">2023</td> <td style="text-align: center; vertical-align: bottom; width: 15px;"> </td> <td style="width: 18px;"> </td> <td style="width: 222px; text-align: right;">1,348,385</td> <td style="width: 14px; text-align: center; font-size: 8pt;"> </td> <td style="width: 15px;"> </td> <td style="width: 163px; text-align: right;">1,527,565</td> <td style="width: 13px; text-align: center; font-size: 8pt;"> </td> <td style="width: 17px;"> </td> <td style="width: 247px; text-align: right; font-size: 10pt;">310,435</td> <td style="width: 17px; font-size: 8pt;">(6)</td> <td style="width: 17px;"> </td> <td style="width: 225px; text-align: right;">318,101</td> <td style="width: 16px; font-size: 8pt;">(7)</td> <td style="width: 15px; text-indent: 9pt;"> </td> <td style="width: 212px; text-align: right;">98</td> <td style="width: 16px; text-align: center;"> </td> <td style="width: 15px;"> </td> <td style="width: 239px; text-align: right;">6,135,000</td> </tr> </tbody></table> </div> <table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;"> <tbody><tr> <td style="width:18pt;"> </td> <td style="vertical-align:top;width:18pt;"> 1. </td> <td style="vertical-align: top; text-align: justify;"> </td> <td style="vertical-align: top; text-align: justify;">Reflects, in column (b), total compensation reported in the Summary Compensation Table (SCT) for our chief executive officer, Richard F. Hermanns, and, in column (d), average total compensation reported in the SCT for our non-PEO named executive officers, in each case for the years 2025, 2024, and 2023. The non-PEO named executive officers for all or a portion of 2025 are Steve G. Crane, C. David R. Hartley, and John D. McAnnar. The non-PEO named executive officers for all or a portion of 2024 are Steve G. Crane and John D. McAnnar. The non-PEO named executive officers for all or a portion of 2023 are David Burnett, Steve G. Crane and John D. McAnnar.</td> </tr> <tr> <td style="width:18pt;"> </td> <td style="vertical-align:top;width:18pt;">2.</td> <td style="vertical-align: top; text-align: justify;"> </td> <td style="vertical-align: top; text-align: justify;">Reflects, in column (c), compensation actually paid to our PEO and, in column (e), average compensation actually paid to our non-PEO named executive officers, in each case for the years 2025, 2024, and 2023, consisting of the respective amounts set forth in columns (b) and (d) of the table, adjusted as set forth in the applicable table below, as determined in accordance with SEC rules.</td> </tr> <tr> <td style="width:18pt;"> </td> <td style="vertical-align:top;width:18pt;">3.</td> <td style="vertical-align: top; text-align: justify;"> </td> <td style="vertical-align: top; text-align: justify;">Represents the cumulative total shareholder return (TSR) of the Company for the measurement periods ending on December 31 of each of 2025, 2024, and 2023, respectively assuming an investment of $100 on December 31, 2022. The TSR reflected in this column for each applicable fiscal year is calculated based on a fixed investment of $100 at the applicable measurement point on the same cumulative basis as is used in Item 201(e) of Regulation S-K and assumes reinvestment of all dividends.</td> </tr> <tr> <td style="width:18pt;"> </td> <td style="vertical-align:top;width:18pt;">4.</td> <td style="vertical-align: top; text-align: justify;"> </td> <td style="vertical-align: top; text-align: justify;">Because Steve Crane served as CFO until May 31, 2025 when C. David R. Hartley replaced him, and because the two did not overlap, the value in this item may appear to be lower than it would have been in a year without a change in principal financial officer. If the compensation paid to the two during their respective tenures as CFO had been aggregated and treated as one for purposes of this calculation, the average would have been higher.</td> </tr> <tr> <td style="width:18pt;"> </td> <td style="vertical-align:top;width:18pt;">5.</td> <td style="vertical-align: top; text-align: justify;"> </td> <td style="vertical-align: top; text-align: justify;">See note 4, above.</td> </tr> <tr> <td style="width:18pt;"> </td> <td style="vertical-align:top;width:18pt;">6.</td> <td style="vertical-align: top; text-align: justify;"> </td> <td style="vertical-align: top; text-align: justify;">Because David Burnett served as CFO until November 13, 2023 when Steve G. Crane replaced him, and because the two did not overlap, the value in this item may appear to be lower than it would have been in a year without a change in principal financial officer. If the two had been aggregated and treated as one for purposes of this calculation, the average would have been $465,653.</td> </tr> <tr> <td style="width:18pt;"> </td> <td style="vertical-align:top;width:18pt;">7.</td> <td style="vertical-align: top; text-align: justify;"> </td> <td style="vertical-align: top; text-align: justify;">See note 6, above.</td> </tr> </tbody></table> 456266 425138 222080 206866 70

6330000

449116 389536 274128 261440 92

3672000

1348385 1527565 310435 318101 98

6135000

Richard F. Hermanns The following table sets forth the adjustments made during each year represented in the Pay Versus Performance Table to arrive at compensation "actually paid" to our PEO during each of the years in question: <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:77%;margin-left:0pt;margin-right:auto;"> <tbody><tr> <td style="vertical-align: bottom; width: 72.8%; border-bottom: 1px solid rgb(0, 0, 0);"> Adjustments to Determine Compensation "Actually Paid" for PEO </td> <td style="vertical-align: bottom; width: 11px; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="vertical-align: bottom; width: 102px; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">2025</td> <td style="vertical-align: bottom; width: 12px; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;"> </td> <td style="vertical-align: bottom; width: 99px; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">2024</td> <td style="vertical-align: bottom; width: 11px; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;"> </td> <td style="vertical-align: bottom; width: 108px; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">2023</td> <td style="vertical-align: bottom; width: 7px; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Deduction for amounts reported under the "Stock awards" column and stock portion of "Non-Equity Plan Incentive Compensation" column in the SCT </td> <td style="vertical-align: bottom; width: 11px;">$</td> <td style="vertical-align: bottom; width: 102px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 12px;">$</td> <td style="vertical-align: bottom; width: 99px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 11px; text-align: right;">$</td> <td style="vertical-align: bottom; width: 108px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 7px; text-align: right;"> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Deduction for amounts reported under the "Option awards" columns in the SCT </td> <td style="vertical-align: bottom; width: 11px;"> </td> <td style="vertical-align: bottom; width: 102px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 12px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 99px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 11px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 108px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 7px; text-align: right;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Increase for Fair Value* as of year-end of awards granted during year that remain outstanding and unvested as of year end </td> <td style="vertical-align: bottom; width: 11px;"> </td> <td style="vertical-align: bottom; width: 102px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 12px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 99px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 11px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 108px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 7px; text-align: right;"> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Increase for Fair Value* as of the vesting date of awards granted during year that vested during year </td> <td style="vertical-align: bottom; width: 11px;"> </td> <td style="vertical-align: bottom; width: 102px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 12px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 99px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 11px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 108px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 7px; text-align: right;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Increase/deduction for Change in Fair Value* from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end </td> <td style="vertical-align: bottom; width: 11px;"> </td> <td style="vertical-align: bottom; width: 102px; text-align: right;">29,255</td> <td style="vertical-align: bottom; width: 12px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 99px; text-align: right;">(30,946</td> <td style="vertical-align: bottom; width: 11px;">)</td> <td style="vertical-align: bottom; width: 108px; text-align: right;">(5,885</td> <td style="vertical-align: bottom; width: 7px;">)</td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Increase/deduction for Change in Fair Value* from prior year-end to vesting date of awards granted prior to year that vested during year </td> <td style="vertical-align: bottom; width: 11px;"> </td> <td style="vertical-align: bottom; width: 102px; text-align: right;">(60,489</td> <td style="vertical-align: bottom; width: 12px;">)</td> <td style="vertical-align: bottom; width: 99px; text-align: right;">(39,542</td> <td style="vertical-align: bottom; width: 11px;">)</td> <td style="vertical-align: bottom; width: 108px; text-align: right;">170,822</td> <td style="vertical-align: bottom; width: 7px; text-align: right;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Deduction of Fair Value* as of prior year-end of awards granted prior to year that were forfeited during year </td> <td style="vertical-align: bottom; width: 11px;"> </td> <td style="vertical-align: bottom; width: 102px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 12px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 99px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 11px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 108px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 7px; text-align: right;"> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Increase based upon Incremental Fair Value*, if any, of awards modified during year </td> <td style="vertical-align: bottom; width: 11px;"> </td> <td style="vertical-align: bottom; width: 102px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 12px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 99px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 11px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 108px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 7px; text-align: right;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Increase based upon dividends or other earnings paid during year prior to vesting date of award that are not otherwise included in total compensation </td> <td style="vertical-align: bottom; width: 11px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 102px; text-align: right;">106</td> <td style="vertical-align: bottom; width: 12px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 99px; text-align: right;">10,908</td> <td style="vertical-align: bottom; width: 11px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 108px; text-align: right;">14,242</td> <td style="vertical-align: bottom; width: 7px; text-align: right;"> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Total Adjustments </td> <td style="vertical-align: bottom; width: 11px;"> </td> <td style="vertical-align: bottom; width: 102px; text-align: right;">(31,128</td> <td style="vertical-align: bottom; width: 12px;">)</td> <td style="vertical-align: bottom; width: 99px; text-align: right;">(59,580</td> <td style="vertical-align: bottom; width: 11px;">)</td> <td style="vertical-align: bottom; width: 108px; text-align: right;">179,180</td> <td style="vertical-align: bottom; width: 7px; text-align: right;"> </td> </tr> </tbody></table> </div> *Awards include those in the "Stock awards" column and the stock portion of the "Non-Equity Incentive Plan Compensation" column. The Fair Value or Change in Fair Value, as applicable, of the equity award adjustments was computed in accordance with FASB ASC Topic 718. The valuation assumptions used to calculate such Fair Values, such as assumed volatility and risk-free rate differ from those used at the time of grant due to the fluctuation in the stock price and the corresponding Monte Carlo Value simulations valued as of the corresponding dates in accordance with Item 402(v) of Regulation S-K. 0 0 0 0 0 0 0 0 0 0 0 0 29255 -30946 -5885 -60489 -39542 170822 0 0 0 0 0 0 106 10908 14242 -31128 -59580 179180 The following table sets forth the adjustments made during each year represented in the Pay Versus Performance Table to arrive at average compensation "actually paid" to our Non-PEO named executive officers during each of the years in question: <div> <table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:77%;margin-left:0pt;margin-right:auto;"> <tbody><tr> <td style="vertical-align: bottom; width: 72.8%; border-bottom: 1px solid rgb(0, 0, 0);"> Adjustments to Determine Average Compensation "Actually Paid" for Non-PEO Named Executive Officers </td> <td style="vertical-align: bottom; width: 14px; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="vertical-align: bottom; width: 83px; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">2025</td> <td style="vertical-align: bottom; width: 13px; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;"> </td> <td style="vertical-align: bottom; width: 84px; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">2024</td> <td style="vertical-align: bottom; width: 14px; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;"> </td> <td style="vertical-align: bottom; width: 94px; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">2023</td> <td style="vertical-align: bottom; width: 9px; border-bottom: 1px solid rgb(0, 0, 0);"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Deduction for amounts reported under the "Stock awards" column and stock portion of "Non-Equity Plan Incentive Compensation" column in the SCT </td> <td style="vertical-align: bottom; width: 14px;">$</td> <td style="vertical-align: bottom; width: 83px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 13px;">$</td> <td style="vertical-align: bottom; width: 84px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 14px; text-align: right;">$</td> <td style="vertical-align: bottom; width: 94px; text-align: right;">105,600</td> <td style="vertical-align: bottom; width: 9px;"> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Deduction for amounts reported under the "Option awards" column in the SCT </td> <td style="vertical-align: bottom; width: 14px;"> </td> <td style="vertical-align: bottom; width: 83px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 13px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 84px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 14px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 94px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 9px;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Increase for Fair Value* as of year-end of awards granted during year that remain outstanding and unvested as of year-end </td> <td style="vertical-align: bottom; width: 14px;"> </td> <td style="vertical-align: bottom; width: 83px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 13px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 84px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 14px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 94px; text-align: right;">102,333</td> <td style="vertical-align: bottom; width: 9px;"> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Increase for Fair Value* as of the vesting date of awards granted during year that vested during year </td> <td style="vertical-align: bottom; width: 14px;"> </td> <td style="vertical-align: bottom; width: 83px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 13px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 84px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 14px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 94px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 9px;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Increase/deduction for Change in Fair Value* from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end </td> <td style="vertical-align: bottom; width: 14px;"> </td> <td style="vertical-align: bottom; width: 83px; text-align: right;">14,829</td> <td style="vertical-align: bottom; width: 13px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 84px; text-align: right;">(12,644</td> <td style="vertical-align: bottom; width: 14px;">)</td> <td style="vertical-align: bottom; width: 94px; text-align: right;">(1,288</td> <td style="vertical-align: bottom; width: 9px;">)</td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Increase/deduction for Change in Fair Value* from prior year-end to vesting date of awards granted prior to year that vested during year </td> <td style="vertical-align: bottom; width: 14px;"> </td> <td style="vertical-align: bottom; width: 83px; text-align: right;">(30,558</td> <td style="vertical-align: bottom; width: 13px;">)</td> <td style="vertical-align: bottom; width: 84px; text-align: right;">(2,763</td> <td style="vertical-align: bottom; width: 14px;">)</td> <td style="vertical-align: bottom; width: 94px; text-align: right;">10,124</td> <td style="vertical-align: bottom; width: 9px;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Deduction of Fair Value* as of prior year-end of awards granted prior to year that were forfeited during year </td> <td style="vertical-align: bottom; width: 14px;"> </td> <td style="vertical-align: bottom; width: 83px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 13px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 84px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 14px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 94px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 9px;"> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Increase based upon Incremental Fair Value*, if any, of awards modified during year </td> <td style="vertical-align: bottom; width: 14px;"> </td> <td style="vertical-align: bottom; width: 83px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 13px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 84px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 14px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 94px; text-align: right;">-</td> <td style="vertical-align: bottom; width: 9px;"> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Increase based upon dividends or other earnings paid during year prior to vesting date of award that are not otherwise included in total compensation </td> <td style="vertical-align: bottom; width: 14px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 83px; text-align: right;">516</td> <td style="vertical-align: bottom; width: 13px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 84px; text-align: right;">2,719</td> <td style="vertical-align: bottom; width: 14px; text-align: right;"> </td> <td style="vertical-align: bottom; width: 94px; text-align: right;">2,097</td> <td style="vertical-align: bottom; width: 9px; text-align: right;"> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="vertical-align: bottom; width: 72.8%;"> Total Adjustments </td> <td style="vertical-align: bottom; width: 14px;"> </td> <td style="vertical-align: bottom; width: 71px; padding-left: 9pt; text-indent: -9pt; text-align: right;">(15,214</td> <td style="vertical-align: bottom; width: 1px; padding-left: 9pt; text-indent: -9pt;">)</td> <td style="vertical-align: bottom; width: 72px; padding-left: 9pt; text-indent: -9pt; text-align: right;">(12,688</td> <td style="vertical-align: bottom; width: 2px; padding-left: 9pt; text-indent: -9pt;">)</td> <td style="vertical-align: bottom; width: 82px; padding-left: 9pt; text-indent: -9pt; text-align: right;">7,666</td> <td style="vertical-align: bottom; width: 9px;"> </td> </tr> </tbody></table> </div> *Awards include those in the "Stock awards" column and the stock portion of the "Non-Equity Incentive Plan Compensation" column. The Fair Value or Change in Fair Value, as applicable, of the equity award adjustments was computed in accordance with FASB ASC Topic 718. The valuation assumptions used to calculate such Fair Values, such as assumed volatility and risk-free rate differ from those used at the time of grant due to the fluctuation in the stock price and the corresponding Monte Carlo Value simulations valued as of the corresponding dates in accordance with Item 402(v) of Regulation S-K. 0 0 105600 0 0 0 0 0 102333 0 0 0 14829 -12644 -1288 -30558 -2763 10124 0 0 0 0 0 0 516 2719 2097 -15214 -12688 7666 Pay Versus Performance Comparative Disclosure Compensation Actually Paid and Total Shareholder Return The Company believes that the amount of "compensation actually paid" to our PEO and "average compensation actually paid" to our other NEOs is appropriately aligned with the Company's total shareholder return set forth in the above table. This alignment is due, in large part, to the fact that a significant portion of the compensation paid to our NEOs is comprised of equity awards, including contractual bonuses which our executives may elect to receive fully or partially in Company stock. While the summary compensation table does not reflect stock compensation in 2025, which would have been aligned to historical cycles, due to executive employment agreement negotiations, the shares which would have been granted in 2025 were actually granted in early 2026. Going forward, the Company expects to resume its cycle of stock grants every other year. For example, in 2023, approximately 34.0% of the value of total compensation awarded to our non-PEO NEOs was comprised of equity awards of restricted shares of company common stock. Given the renewal cycle of our PEO's contract his 2023 total compensation did not include equity. In 2022, approximately 36.6% of the value of total compensation awarded to our NEOs, including our PEO, was comprised of equity awards of restricted shares of Company common stock inclusive of stock elections in lieu of cash bonus payments. We expect the percentage of total compensation for stock issuances to be similar in 2026. Because our NEOs are awarded restricted shares of common stock upon renewal of their employment agreements which occurs every two years, the amounts listed in the "Stock Awards" column of the SCT appear to vary significantly. While TSR was negative in 2025 compared to 2024, we believe our industry faced significant headwinds in 2025 and that TSR has been impacted as a result. Compensation Actually Paid and Net Income The Company believes that the amount of "compensation actually paid" to our PEO and "average compensation actually paid" to our other NEOs is appropriately aligned with the Company's net income as set forth in the above table. This alignment is due, in large part, to the bonus structure the Compensation Committee has in place for our NEOs. Historically, the bonus has been a significant driver of total compensation, particularly, with respect to our PEO. The bonus, with respect to our PEO, has historically largely been tied to an increase in system-wide sales, which, in turn, contributes directly to our revenue. Beginning in 2026 and moving forward, the Compensation Committee has replaced the emphasis on system-wide sales growth with an emphasis on Adjusted EBITDA growth which they believe will further align PEO pay with net income. For our Non-PEO NEOs, bonuses are determined based on a formula with inputs regarding six key profitability drivers: same store system-wide sales increase, new store system-wide sale increase, sales from acquisitions, maintenance of permanent payroll within historical norms, improvement on accounts receivable turns, and improvements in our workers' compensation loss ratio. Average compensation for our Non-PEO NEOs remained relatively stable in 2025 compared to 2024 which corresponded to relatively similar net income provided that our net income in 2024 was adjusted for a one-time non-cash write off of intangible assets as more fully described in our Annual Report on Form 10-K for 2024. Clawback Policy In December 2023, in accordance with Nasdaq requirements, our Board adopted a clawback policy to provide for the recovery of erroneously awarded executive compensation in the event of an accounting restatement resulting from material noncompliance with financial reporting requirements under the federal securities laws. This policy is designed to comply with Section 10D of the Exchange Act, Rule 10D-1 thereunder and the applicable Nasdaq listing rules. A copy of the policy is filed as Exhibit 97.1 to the Company’s annual report on Form 10-K for the year ended December 31, 2025. Policies and Practices on the Timing of Option Grants The Company does not grant options. The Company does not grant options. false false false