Company: ACCS
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000843006-25-000014
Chunk: 24

Company: ACCESS Newswire Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 24
---
 grants of stock options and other equity awards. Equity incentive awards are made either (i) in accordance with negotiated terms at levels deemed necessary to attract or retain the executive at the time of such negotiations and determined taking into account the recipient’s overall compensation package and the goal of aligning such executive’s interest with that of our stockholders and to be completive within our industry and the overall marketplace, or (ii) at the discretion of the Board without reference to any formal targets or objectives, when deemed appropriate in connection with extraordinary efforts or results or necessary in order to retain the executive in light of the executive’s overall compensation package.

COMPENSATION OF NAMED EXECUTIVE OFFICERS

Compensation of Chief Executive Officer. During the twelve months ended December 31, 2024, Mr. Balbirnie’s total cash compensation earned was $285,000. Mr. Balbirnie’s total cash compensation earned was comprised of salary payments from January 1, 2024 through December 31, 2024. Mr. Balbirnie was not granted any equity awards during 2024.

2024 Bonus Plan.Our Compensation Committee implemented a 2024 cash bonus plan for Mr. Balbirnie based on the following criteria:

| ► | Cash bonus target was 50% of annualized base salary of $285,000. |

| ► | Cash bonus plan was based upon the achievement of target financial numbers during the fiscal year 2023. |

| ► | Bonus targets for solely the target financial numbers would have been scaled as follows: (i) below 90% of target results in no bonus paid; (ii) 90% of target results in 50% of bonuses paid; (iii) 100% of target results in 100% of bonuses paid; (iv) 120% and greater of target results in 120% of bonuses paid. The payout is a maximum of 120% of target bonus. |

Based on these criteria and as noted above, Mr. Balbirnie did not receive a cash bonus for 2023.

2025 Bonus Plan. Our Compensation Committee has not yet implemented a 2025 cash bonus plan for Mr. Balbirnie but intends to do so in the near future.

Compensation of Chief Financial Officer.For the twelve months ended December 31, 2024, Mr. Knerr’s total cash compensation earned was $187,346. Mr. Knerr’s total cash compensation earned was comprised of salary payments from January 1, 2023