Board Justification

Under the oversight of the Compensation Committee, our executive compensation program rewards sustained positive financial and operating performance. Our executive compensation program is designed to align our executives’ compensation to the performance of the Company while avoiding practices that may create unwarranted risk. The design and operation of our executive compensation program reflect the following basic objectives: aligning the interests of our executive officers with the interests of our Company and its stakeholders; linking our executive officers’ compensation to the achievement of both short-term and long-term strategic and operational goals; and attracting, motivating and retaining highly qualified executive officers who are passionate about the mission of our Company.

Board Justification

Annual cash bonus awards are provided to tie a significant portion of the overall cash compensation of our senior executives, including our NEOs, to the achievement of annually established, key short-term corporate objectives and financial goals of the Company.

Board Justification

Consists of taxable reimbursements received under the Company’s Executive Financial Services Policy and 401(k) Employer Match.

Board Justification

RSUs granted to our NEOs vest over time in three equal annual installments. Each RSU granted in 2024 entitles the grantee to receive one share of our Common Stock upon vesting.