How Phipps was paid
$652,980 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 | Other | Total |
|---|---|---|---|---|---|
| David PhippsChief Executive Officer and President | $375,000 | $36,000 | $224,980 | $17,000 | $652,980 |
| Charles M. FernandezFormer Chief Executive Officer and Executive Chairman | $277,000 | — | — | $51,000 | $328,000 |
| Amanda FerrioChief Financial Officer | $186,000 | $5,000 | $48,750 | $26,000 | $265,750 |
| Cecile MunnikFormer Chief Financial Officer | $240,000 | — | — | $14,000 | $254,000 |
| Robert BedwellChief Compliance Officer and Secretary | $175,000 | $3,000 | $26,000 | $18,000 | $222,000 |
What changed and why
- $653KDavid Phipps total compensation increased to $652,980 in 2025 from $402,000 in 2024.
- $450KDavid Phipps base salary was increased to $450,000 effective September 24, 2025.
- Amanda Ferrio was appointed as Chief Financial Officer on October 13, 2025.
- Charles M. Fernandez transitioned from Chief Executive Officer during the fiscal year.
- Equity compensation was granted under the company long-term incentive plans.
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.