How Fruendt was paid
$360,044 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 |
|---|---|---|---|---|
| Joel L. FruendtPresident and Chief Executive Officer | $357,000 | — | $3,044 | $360,044 |
| Thomas C. ChestermanExecutive Vice President, Chief Financial Officer, Treasurer and Secretary | $262,500 | $40,000 | $7,195 | $309,695 |
| Michael EdellInterim Chief Operating Officer | $60,000 | $25,000 | $95,613 | $180,613 |
What changed and why
- $360KJoel L. Fruendt total compensation decreased to $360,044 in fiscal 2025 from $565,069 in fiscal 2024.
- Joel L. Fruendt received no bonus or equity awards for fiscal 2025 due to his announced retirement.
- $40,000Thomas C. Chesterman earned a bonus of $40,000 for fiscal 2025 performance.
- $95,613Michael Edell received all other compensation of $95,613 consisting largely of prior consulting fees.
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.