How Morrisett was paid
$305,225 in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Bonus | Other | Total |
|---|---|---|---|---|
| Michael R. MorrisettPresident and Chief Executive Officer | $285,000 | $10,000 | $10,225 | $305,225 |
What changed and why
- $305KChief executive officer total compensation decreased to $305,225 in fiscal 2025 from $475,225 in fiscal 2024.
- $260KBase salary increased from $260,000 to $285,000 while bonus dropped from $205,000 to $10,000.
- No equity awards were granted to the chief executive officer for 2025 and 2024.
- $10,225All other compensation remained flat at $10,225 consisting of life insurance premiums.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.