Company: EACO
Filing Date: 2025-11-20
Form Type: 10-K
Source: 0001104659-25-114547
Chunk: 5

Company: EACO CORP
Filing Date: 2025-11-20
Form: 10-K
Item: Item 11
Chunk 5
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Item 11.  Executive Compensation

The Compensation Committee is responsible for assisting with the establishment of the salary and annual bonuses paid to executive officers of EACO and administering EACO’s equity incentive plans, if any, including granting stock options to officers and employees of EACO. The Compensation Committee has not adopted a formal charter. The current members of the Compensation Committee are Messrs. Glen Ceiley and William Means.

The executive officers of EACO are Mr. Ceiley, the Company’s Chief Executive Officer and Chairman of the Board, and Mr. Michael Narikawa, the Company’s Chief Financial Executive and Principal Accounting Officer. Due to the nature of EACO’s operations and related consolidated financial results, no additional salary or other compensation for their service as officers of EACO was determined to be necessary, and no such compensation was provided to Mr. Ceiley or Mr. Narikawa during fiscal 2025 or fiscal 2024. However, both of them receive compensation from Bisco for their services provided to Bisco.

All compensation for the named executive officers for fiscal 2025 and fiscal 2024 was paid by Bisco. The compensation of named executive officers who serve as officers of Bisco are determined by Bisco’s Chairman of the Board, Glen Ceiley. Mr. Ceiley receives quarterly cash dividends in the amount of $19,125 on his shares of preferred stock of EACO and was paid a total of $76,500 during fiscal 2025.

Summary Compensation

The following table sets forth information regarding compensation earned from the Company (including from Bisco, our wholly-owned subsidiary) during fiscal 2025 and fiscal 2024 by (i) our Chief Executive Officer, and (ii) the two other most highly compensated executive officers who were employed by the Company (including Bisco) as of August 31, 2025 and whose total compensation exceeded $100,000 during that year. The officers listed below are collectively referred to as the “named executive officers” in this Annual Report.

​​​​​​​​​​​​​​​​    Fiscal    ​​    ​​    All Other    ​​Name and Principal Position​Year​Salary​Bonus​Compensation​TotalGlen F. Ceiley 2025​$ 188,000(1)​$ 4,881​$ 5,228(2)​$ 198,109Chief Executive Officer and Chairman of the Board of EACO and B