Company: EQS
Filing Date: 2025-05-12
Form Type: DEF 14A
Source: 0001712543-25-000028
Chunk: 28

Company: EQUUS TOTAL RETURN, INC.
Filing Date: 2025-05-12
Form: DEF 14A
Chunk 28
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 similar instruments
exercised by any executive officer of the Company and there was no vesting of stock, including restricted stock, restricted stock units
or similar instruments by any executive officer of the Company during 2024.

Pension Benefits

The Company does not have any plan that provides for
payments or other benefits at, following, or in connection with the retirement of its executive officers.

Nonqualified Defined Contribution and Other Nonqualified Deferred Compensation Plans

During 2024, other than pursuant to a separate written
agreement or a 401(k) plan for certain employees wherein the Company provides a match of 3% of employee compensation, the Company did
not have any defined contribution or other plan that provided for the deferral of compensation by any executive officer of the Company
on a basis that was not tax-qualified.

Benefits and Perquisites.

We provide the opportunity for certain of our NEOs
and other full-time employees to receive certain perquisites and general health and welfare benefits, which consist of life and health
insurance benefits, and reimbursement for certain medical expenses.

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Chief Executive Officer Pay Ratio

Mr. Hardy's total compensation for 2024 was $534,667
which was paid in cash as reflected in the Summary Compensation Table above. The total compensation of our median employee, excluding
Mr. Hardy, for 2024 was $306,651. As a result, Mr. Hardy's total compensation was approximately 1.74 times that of our median employee
for 2024. We selected December 31, 2024 as the date used to identify our “median employee” whose annual total compensation
was the median of the total annual compensation of all of our officers and employees (other than our Chief Executive Officer) for 2024.
As of December 31, 2024, our officer and employee population consisted of 3 individuals (excluding Mr. Hardy), all of whom were continuously
employed or engaged by the Company during the year. To identify our median employee, we compared the annual total compensation for each
officer and employee of the Company, as determined in accordance with the requirements of Item 402(c)(2)(x) of Regulation S-K, which included
salary, bonus, restricted stock awards, employer contributions to employee accounts in our 401(k) plan, employer contributions to employee
accounts in our deferred compensation plan and earnings thereon, and company-paid life insurance premiums.

Pay Versus Performance

Under rules adopted pursuant to the Dodd-Frank Act