Company: BTBDW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002248
Chunk: 112

Company: BT Brands, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 10
Chunk 112
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 as directors and officers. We also maintain directors’ and officers’ liability insurance.

The limitation of liability and indemnification provisions included in our articles of incorporation and bylaws may discourage stockholders from bringing a lawsuit against our directors and officers for breach of their fiduciary duty. They may also reduce the likelihood of derivative litigation against our directors and officers, even though an action, if successful, might benefit our stockholders and us. Further, a stockholder’s investment may be adversely affected to the extent that we pay the costs of settlement and damage.

 38Table of Contents

Item 11. Executive Compensation. 

Summary Compensation TableT

The following Summary Compensation Table sets forth all compensation earned in all capacities during the 2024 and 2023 fiscal years by our principal executive officer and principal financial officer (the named executive officers). No other officer or employee of the Company received total compensation for either 2022 or 2024, as determined in accordance with Item 402 of Regulation S-K, which exceeded $100,000:

Name and Principal Position Year Salary ($)  Stock Awards($) OptionAwards($)  Non-Qualified Deferred Compensation Earnings($) All OtherCompensation($) Total($) Gary Copperud, Chief Executive Officer 2024 $250,000           $250,000   2023 $250,000    $127,840      $377,840                      Kenneth W. Brimmer, Chief Operating and Financial Officer 2024 $150,000            $150,000   2023 $150,000    $95,880      $245,880 

Officer Compensation

In fiscal 2024, the Company paid Mr. Copperud a salary of $250,000 to serve as our Chief Executive Officer, which included compensation payable under an Employment Agreement that we entered into with Mr. Copperud in July 2022, as described below under the heading “Employment Agreements.” During fiscal year 2022, we paid Mr. Copperud a salary of $150,000 to serve as the Chief Executive Officer.

During fiscal 2024, the Company paid Mr. Brimmer a salary of $150,000 to serve as our Chief Financial Officer, which included salary payable under an Employment Agreement that we entered into with Mr. Brimmer in July 2022, as described below under the heading “Employment Agreements.”

Employment Agreements