Definitive proxy statements

Pay vs Performance Disclosure

v3.26.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended 36 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2025
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table

Pay Versus Performance Information

 

Pay Versus Performance Table. The following table provides information for each of the three years in the period ended December 31, 2025 concerning the total compensation of the Company’s principal executive officer (“PEO”) and its one other “named executive officer,” as well as certain other comparative data.

 

Year

 

Summary Compensation Table Total for PEO

($)(1)

 

Compensation Actually Paid to PEO

($)(2)

 

Average Summary Compensation Table Total for Non-PEO Named Executive Officer

($)(1)

 

Average Compensation Actually Paid to Non-PEO Named Executive Officer

($)(2)

 

Value of Initial Fixed $100 Investment Based on Total Shareholder Return (TSR)

($)

 

Company's Net Income (Loss)

($ in thousands)

2025

 

1,187,357

 

1,015,750

 

480,474

  423,030

 

151.21

 

(882)

2024

 

1,291,292

 

1,294,194

 

519,803

  520,776

 

179.59

 

572

2023   1,351,784   1,338,050   564,923   560,326   194.17   568

_______________________

 

 

(1)

Chris T. Sharng served as the Company’s PEO during each of the covered fiscal years, and Timothy S. Davidson served as the Company’s Chief Financial Officer, Senior Vice President and Corporate Secretary, and sole other “named executive officer,” during each of the reported years.

  (2) SEC rules require certain adjustments to be made to the Summary Compensation Table totals to determine “compensation actually paid” as reported in the “pay versus performance” table above. In accordance with SEC rules, the following adjustments were made to derive the “compensation actually paid” to the Company’s PEO and Non-PEO named executive officer.
     
PEO Total Compensation Amount $ 1,187,357 $ 1,291,292 $ 1,351,784  
PEO Actually Paid Compensation Amount $ 1,015,750 1,294,194 1,338,050  
Adjustment To PEO Compensation, Footnote

Year

 

Summary Compensation Table Total for PEO

($)

 

Value of Stock Awards

($)(a)

 

Change in Value of Unvested Awards Granted in Prior Years

($)

 

Change in Value of Awards Granted in Prior Years That Vested During the Year

($)

 

Value of Awards

Granted and Vested During the Year

($)

 

Dividends on Unvested Awards Paid During the Year

($)

 

Compensation Actually Paid to PEO ($)

2025

 

1,187,357

 

(171,607)

 

   

 

 

1,015,750

2024

 

1,291,292

 

(275,767)

 

    278,669

 

 

1,294,194

2023   1,351,784   (336,934)       323,200     1,338,050

 

     
Non-PEO NEO Average Total Compensation Amount $ 480,474 519,803 564,923  
Non-PEO NEO Average Compensation Actually Paid Amount $ 423,030 520,776 560,326  
Adjustment to Non-PEO NEO Compensation Footnote

Year

 

Average Summary Compensation Table Total for Non-PEO Named Executive Officer

($)

 

Value of Stock Awards

($)(a)

 

Change in Value of Unvested Awards Granted in Prior Years

($)

 

Change in Value of Awards Granted in Prior Years That Vested

During the Year

($)

 

Value of Awards

Granted and Vested During the Year

($)

 

Dividends on Unvested Awards Paid During the Year

($)

 

Average Compensation Actually Paid to Non-PEO Named Executive Officer ($)

2025

 

480,474

 

(57,444)

 

   

 

 

423,030

2024

 

519,803

 

(92,290)

 

    93,263

 

 

520,776

2023   564,923   (112,786)       108,189     560,326

 

(a)

Represents the aggregate grant date fair value of phantom shares as reported in the "Stock Awards" column in the Summary Compensation Table for the applicable year.

 

 

     
Compensation Actually Paid vs. Total Shareholder Return

Description of Relationship Between Compensation Actually Paid and Company Total Shareholder Return (TSR). The following chart sets forth the relationship between compensation actually paid to the Company's PEO, the average compensation actually paid to the Company's Non-PEO named executive officer, and the Company's TSR over the years presented in the table (as of year end). TSR is determined based on the value of an initial fixed investment of $100 in the Company's common stock on December 31, 2022, assuming the reinvestment of dividends.

 

picture1-updatedmarch16.jpg

 

     
Compensation Actually Paid vs. Net Income

Description of Relationship Between Compensation Actually Paid and Company Net Income (Loss). The following chart sets forth the relationship between compensation actually paid to the Company's PEO, the average compensation actually paid to the Company's Non-PEO named executive officer, and the Company's net income (loss) over the years presented in the table. The Company's net income (loss) is derived from its financial statements for each of the three years in the period ended December 31, 2025.

 

picture2182026opt.jpg
 

 

     
Total Shareholder Return Amount $ 151.21 179.59 194.17  
Net Income (Loss) (882,000) 572,000 568,000  
PEO Name       Chris T. Sharng
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (171,607) (275,767) (336,934)  
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 0 0 0  
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 278,669 323,200  
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 0      
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 0    
Non-PEO NEO        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0      
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (57,444) (92,290) (112,786)  
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 0 0 0  
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 93,263 $ 108,189  
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 0 0    
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 $ 0