Board Justification

The Compensation Committee’s primary objectives in structuring and administering our executive officer compensation program are to: ●attract, motivate and retain talented and dedicated executive officers;​ ●tie annual and long-term cash and stock incentives to achievement of measurable corporate and individual performance objectives; and​ ●reinforce business strategies and objectives for enhanced shareholder value.

Board Justification

The Compensation Committee concluded cash bonuses should not be paid under the above performance plan for fiscal 2021

Board Justification

Consists of (i) $10,227 we paid on behalf of Mr. Gibson related to health insurance, (ii) $9,330 we paid to Mr. Gibson related to a car allowance and (iii) $2,352 we paid on behalf of Mr. Gibson related to life insurance which is a benefit provided to all employees and (iv) $400 we paid to Mr. Gibson for allowances paid to all employees.

Board Justification

In April 2021, the Board of Directors approved the vesting of all of the remaining restricted shares outstanding to our former Chief Executive Officer and Board member.