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Pay vs Performance Disclosure
Pure in Thousands
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]

PAY VERSUS PERFORMANCE

 

                                   

Value of initial fixed $100

investment based on:

                 

Year

 

Summary

Compensation

Table Total for

PEO

   

Compensation

Actually Paid

to PEO (1)

   

Average

Summary

Compensation

Table Total for

Non-PEO

NEOs

   

Average

Compensation

Actually Paid

to Non-PEO

NEOs (2)

   

Total

Shareholder

Return

   

Peer group

Total

Shareholder

Return(3)

   

Net Income

   

Revenue

 
                                                   

(in thousands)

 
                                                                 

2022

  $ 181,173     $ 184,526     $ 410,113     $ 418,936       59.60       109.59     $ 31,800     $ 151,568  

2021

  $ 217,094     $ 207,809     $ 490,467     $ 469,883       64.98       137.74     $ 37,466     $ 147,954  

2020

  $ 254,504     $ (329,929 )   $ 524,435     $ (1,183,288 )     65.91       119.96     $ 37,260     $ 133,277  

_______________________

  (1)

 

Mr. Hays was the Principal Executive Officer (“PEO”) for 2022, 2021, and 2020. The following amounts were deducted and added to determine the compensation actually paid to the PEO:

   
PEO Total Compensation Amount $ 181,173 $ 217,094 $ 254,504
PEO Actually Paid Compensation Amount $ 184,526 207,809 (329,929)
Adjustment To PEO Compensation, Footnote [Text Block]

 

 

Year

 

Summary

Compensation

Table Total for

PEO

   

Deduct Stock

and Option

Awards

Reported in the

Summary

Compensation

Table

   

Add Awards

Granted

During the

Covered FY

that are

Outstanding

and Unvested

as of the End

of the

Covered FY

   

Add Change

in Fair Value

as of the End

of the

Covered FY

for Awards

Granted in a

Prior FY that

are Outstanding

and Unvested

as of the

Covered FY

   

Add Change

in Fair

Value as of

the Vesting

Date for

Awards

Granted in a

Prior FY

that Vested

During the

Covered FY

   

Compensation

Actually Paid

to PEO

 
                                                 

2022

  $ 181,173     $ (49,527 )   $ 54,018     $ (2,257 )     1,119     $ 184,526  

2021

  $ 217,094     $ (49,595 )   $ 45,549     $ (7,756 )     2,517     $ 207,809  

2020

  $ 254,504     $ (60,258 )   $ 18,190     $ (564,781 )     22,416     $ (329,929 )
   
Non-PEO NEO Average Total Compensation Amount $ 410,113 490,467 524,435
Non-PEO NEO Average Compensation Actually Paid Amount $ 418,936 469,883 (1,183,288)
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

_______________________

  (2)

 

Mr. Karas and Mses. Raasch and Hrdy were Non-PEO Named Executive Officers (“NEOs”) during 2022, 2021, and 2020. Steven D. Jackson, our former President, was a non-PEO NEO during 2020. The following average amounts were deducted and added to determine the average compensation actually paid to the non-PEO NEOs:

 

 

Year

 

Average

Summary

Compensation

Table Total for

Non-PEO NEOs

   

Deduct Stock

and Option

Awards

Reported in the

Summary

Compensation

Table

   

Add Awards

Granted

During the

Covered FY

that are

Outstanding

and Unvested

as of the End

of the

Covered FY

   

Add Change in

Fair Value as

of the End of

the Covered

FY for Awards

Granted in a

Prior FY that

are Outstanding

and Unvested

as of the

Covered FY

   

Add Change

in Fair Value

as of the

Vesting Date

for Awards

Granted in a

Prior FY that

Vested During

the Covered FY

   

Subtract

Awards

Granted in a

Prior FY that

Failed to Meet

the Applicable

Vesting

Conditions

During the

Covered FY

   

Add Dividends

Paid on

Awards in the

Covered FY

Prior to the

Vesting Date

that are Not

Otherwise

Included in

Total

Compensation

for the

Covered FY

   

Average

Compensation

Actually Paid

to Non-PEO

NEOs

 
                                                                 

2022

  $ 410,113     $ (112,737 )   $ 122,960     $ (3,742 )   $ 2,342       -       -     $ 418,936  

2021

  $ 490,467     $ (112,904 )   $ 103,693     $ (16,358 )   $ 4,985       -       -     $ 469,883  

2020

  $ 524,435     $ (134,221 )   $ 29,808     $ (869,318 )   $ (98,275 )   $ (637,647 ) (4)   $ 1,930     $ (1,183,288 )

_______________________

 

(3)

Utilizes the Russell 2000 Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Form 10-K for the year ended December 31, 2022. Because of the uniqueness of our markets and products and lack of publicly traded peers, we do not believe that a combination of peer issuers can be selected on an industry or line-of-business basis to provide a meaningful basis for comparing shareholder return. Accordingly, the Russell 2000 Index, which is comprised of issuers with generally similar market capitalizations to that of the Company, is included in the table as permitted by applicable regulations. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the Russel 2000 Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.

 

(4)

Represents options held by Mr. Jackson that were forfeited upon his resignation in October 2020.

   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

The relationship between the compensation actually paid to the PEO and the average compensation actually paid to the non-PEO NEOs and the cumulative total shareholder return of the Company and the Russell 2000 Index for 2022, 2021, and 2020 is represented by the graph below:

 

comptable1.jpg

 

   
Compensation Actually Paid vs. Net Income [Text Block]

The relationship between the compensation actually paid to the PEO and the average compensation actually paid to the non-PEO NEOs and the Company’s net income for 2022, 2021, and 2020 is represented by the graph below:

 

comptable3.jpg

 

   
Compensation Actually Paid vs. Company Selected Measure [Text Block]

The relationship between the compensation actually paid to the PEO and the average compensation actually paid to the non-PEO NEOs and the Company’s revenue for 2022, 2021, and 2020 is represented by the graph below:

 

comptable2.jpg

 

   
Tabular List [Table Text Block]

The following tabular list includes the financial performance measures which in the Company’s assessment represent the most important financial performance measures used by the Company to link compensation actually paid to the Company’s NEO’s for 2022 to Company performance.

 

Important Financial Measures

 

Net Income

Revenue

Company Stock Price

   
Total Shareholder Return Amount $ 59.60 64.98 65.91
Peer Group Total Shareholder Return Amount 109.59 137.74 119.96
Net Income (Loss) $ 31,800,000 $ 37,466,000 $ 37,260,000
Company Selected Measure Amount 151,568 147,954 133,277
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Net Income    
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Revenue    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Company Stock Price    
PEO Deduct Stock and Option Awards Reported in the Summary Compensation Table [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (49,527) $ (49,595) $ (60,258)
PEO Add Awards Granted During the Covered FY that are Outstanding and Unvested as of the End of the Covered FY [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 54,018 45,549 18,190
PEO Add Change in Fair Value as of the End of the Covered FY for Awards Granted in a Prior FY that are Outstanding and Unvested as of the Covered FY [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (2,257) (7,756) (564,781)
PEO Add Change in Fair Value as of the Vesting Date for Awards Granted in a Prior FY that Vested During the Covered FY [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 1,119 2,517 22,416
NEO Deduct Stock and Option Awards Reported in the Summary Compensation Table [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (112,737) (112,904) (134,221)
NEO Add Awards Granted During the Covered FY that are Outstanding and Unvested as of the End of the Covered FY [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 122,960 103,693 29,808
NEO Add Change in Fair Value as of the End of the Covered FY for Awards Granted in a Prior FY that are Outstanding and Unvested as of the Covered FY [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (3,742) (16,358) (869,318)
NEO Add Change in Fair Value as of the Vesting Date for Awards Granted in a Prior FY that Vested During the Covered FY [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 2,342 4,985 (98,275)
NEO Subtract Awards Granted in a Prior FY that Failed to Meet the Applicable Vesting Conditions During the Covered FY [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 0 (637,647)
NEO Add Dividends Paid on Awards in the Covered FY Prior to the Vesting Date that are Not Otherwise Included in Total Compensation for the Covered FY [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 0 $ 0 $ 1,930