SEC Filing Document

Company: Synergy CHC Corp.
Ticker: SNYR
CIK: 1562733
Filing Type: PRE 14A
Document Type: PRE 14A
Date Filed: 2025-04-17
Accession Number: 0001213900-25-032976
Exchange: Nasdaq
SIC Code: 2833
SIC Description: Medicinal Chemicals & Botanical Products
URL: https://www.sec.gov/Archives/edgar/data/1562733/000121390025032976/ea0238236-01.htm

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— — Pay Versus Performance As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, we are providing information about the relationship between executive compensation actually paid to our principal executive officer (“PEO”) and the other named executive officers (“NEOs”), as calculated in accordance with Item 402(v) of Regulation S-K, and certain financial performance measures. In accordance with the transitional relief under the SEC rules for smaller reporting companies, only two years of information is required as this is the Company’s first year of disclosure under Item 402(v) of Regulation S-K. Pay Versus Performance Table Year Summary Compensation Table Total for PEO (1) Compensation Actually Paid to PEO (2) Average Summary Compensation Table Total for Non-PEO NEOs (3) Average Compensation Actually Paid to Non-PEO NEOs (2) Value of Initial Fixed $100 Investment Based on Total Shareholder Return Net Income

(1)      The amounts reported in column (b) are the amounts of total compensation reported for Jack Ross for 2024 and 2023.

(2)      Amounts represent compensation actually paid to our PEO and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below).

(3)      The amounts reported in column (d) represent the average of the amounts reported for our Non-PEO NEOs as a group in the “Total” column of the SCT in each applicable year. The Non-PEO NEOs for 2024 were Alfred Baumeler, Jaime Fickett and Stacy Bieber for their non-PEO terms, for 2023 were Alfred Baumeler and Jaime Fickett.

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In accordance with the requirements of Item 402(v) of Regulation S-K, the adjustments made to derive compensation actually paid to our PEO and non-PEO NEOs are contained in the following table:

PEO Non-PEO NEOs

Total Compensation $	1,321 $	520,000 $	328,293 $	396,087

Equity Adjustments:

Less FV of CY RS — — — —

Less FV of CY Options — — — —

Add YE FV of unvested RS — — — —

Add YE FV of unvested Options — — — —

Change in FV of PY unvested RS — — — —

Change in FV of PY unvested Options — — — —

Add CY Vested RS — — — —

Add CY Vested Options — — — —

Add PY Vested RS — — — —

Add PY Vested Options — — — —

Actual Compensation $	1,321 $	520,000 $	328,293 $	396,087

Description of the Relationship Between Compensation Actually Paid and Selected Performance Metric

The compensation for our PEO and NEOs includes salary, non-equity incentives and stock and option awards. The equity incentive programs we have in place are intended to build stockholder value by tying the interests of our executive officers to the success of the Company as “owners” of our business, and to drive alignment on the effective and efficient use of available cash. In accordance with the transitional relief under the SEC rules for smaller reporting companies, only two years of information is required as this is the Company’s first year of disclosure under Item 402(v) of Regulation S-K.

Compensation Actually Paid and Cumulative TSR

The compensation actually paid to our PEO, as computed in accordance with the requirements of Item 402(v) of Regulation S-K, was $1,321 and $520,000 for 2024 and 2023, respectively. The average amount of compensation actually paid to the NEOs as a group, as computed in accordance with Item 402(v) of Regulation S-K, was $328,293 and $396,087 for 2024 and 2023, respectively. The TSR of the Company, assuming an initial fixed $100 investment and computed in accordance with the requirements of Item 402(v) of Regulation S-K, was $0, or (0%), and $0, or 0%, for 2023-2024 and 2022-2023, respectively. Company TSR is calculated by dividing the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period.

Compensation Actually Paid and Net Income

The compensation actually paid to our PEO, as computed in accordance with the requirements of Item 402(v) of Regulation S-K, was $1,321 and $520,000 for 2024 and 2023, respectively. The average amount of compensation actually paid to the NEOs, as computed in accordance with Item 402(v) of Regulation S-K, $328,293 and $396,087 for 2024 and 2023, respectively. The Company’s net income, as computed in accordance with Item 402(v) of Regulation S-K and reflected in the Company’s audited financial statements for the applicable fiscal year, was $2.1 million and $6.3 million for 2024 and 2023, respectively.

Fiscal Year 2024 Director Compensation

Our named executive officer and director, Mr. Ross, did not receive any compensation for his service as a director for the year ended December 31, 2024. All compensation paid to Mr. Ross is set forth above under “— Fiscal Year 2024 and 2023 Summary Compensation Table.” No compensation was paid to our non-employee directors during the fiscal year ended December 31, 2024.

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Director Compensation

On December 5, 2024, our Board approved a Non-Executive Director Compensation Policy (the “Director Compensation Policy”). Under the Director Compensation Policy, we pay non-employee directors a cash retainer for service on our Board and for service on each committee of which the director is a member. The chairperson of each committee receives a higher retainer for such service. These fees are payable in arrears in four equal quarterly instalments on the last day of each calendar quarter, provided that the amount of such payment will be prorated for any portion of such quarter that a director is not serving on our Board and no fee is payable in respect of any period prior to the completion of the Business Combination.

The following table describes our current non-employee director compensation program, which consists of annual cash retainers payable in arrears in four equal quarterly instalments on the last day of each calendar quarter:

Term Compensation

Annual Board Cash Retainer $	25,000

Additional Retainers for Committee Chairs

•     Audit $	50,000

•     Compensation $	—

•     Nominating and Corporate Governance $	—

Additional Retainers for Committee Members

•     Audit $	—

•     Compensation $	—

•     Nominating and Corporate Governance $	—

Annual Equity Award (non-employee directors) $	25,000	​ (1)

Additional Equity Award for Committee Chairs

•     Audit $	100,000	​ (1)

•     Compensation $	—

•     Nominating and Corporate Governance $	—

(1)      Award made under the 2024 Plan in the form of RSUs.

We reimburse non-employee directors for reasonable travel and other expenses incurred in connection with attending meetings of our Board and any committee of our Board on which they serve and other business related to the Board. We also reimburse non-employee directors for reasonable travel and other expenses authorized by the Board or a committee of the Board that are incurred in connection with attendance at various conferences or meetings with our management, in accordance with our travel policy.

Clawback Policy

We adopted an executive officer incentive compensation clawback policy that may be applied in the event of a material financial restatement. This policy supersedes terms stated in prior executive employment or compensation agreements. Specifically, in the event of an accounting restatement, we must recover, reasonably promptly, erroneously awarded compensation in amounts determined pursuant to the policy. Compensation that may be recoverable under the policy includes cash or equity-based compensation for which the grant, payment or vesting (or any portion thereof) is or was predicated upon the achievement of specified financial results that are impacted by the material financial restatement, and the amount of compensation that may be impacted by the clawback policy is the difference between the amount paid or granted, and the amount that should have been paid or granted, if calculated on the updated financials. Recovery under the policy with respect to an executive officer will not require the finding of any misconduct by such executive officer or such executive officer being found responsible for the accounting error leading to an accounting restatement. Our Clawback Policy was filed as an exhibit to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

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EQUITY COMPENSATION PLAN INFORMATION

Equity Compensation Plan Information