How Launer was paid
$712,516 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 | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|---|
| Cindy L. LaunerPresident and CEO | $167,614 | — | $187,493 | $240,000 | $117,409 | $712,516 |
| Matthew J. MakiChief Financial Officer | $416,194 | $45,000 | $393,725 | $392,250 | $109,563 | $1,356,790 |
| Douglas A. DuncanSenior Vice President and Chief Information Officer | $221,459 | $25,000 | — | $159,450 | $36,909 | $442,818 |
| Kevin D. ElfstrandSenior Vice President and Chief Accounting Officer | $295,750 | — | $103,867 | $212,940 | $56,685 | $669,299 |
| Seth C. DaggettFormer President and CEO | $594,114 | — | $675,788 | — | $2,656,252 | $3,926,153 |
What changed and why
- $713KCindy L. Launer was appointed President and CEO on October 10, 2025, receiving total compensation of $712,516.
- $3.9MFormer CEO Seth C. Daggett received total compensation of $3,926,153 following his termination without cause, including $2,632,915 in severance.
- $1.4MMatthew J. Maki was appointed Chief Financial Officer on March 1, 2025, with total compensation of $1,356,790.
- Long-term equity incentives in 2025 consisted entirely of time-based restricted stock units rather than performance shares.
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.