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EXECUTIVE COMPENSATION
Outstanding Equity Awards at Fiscal Year-End The following table shows the number of equity awards outstanding as of December 31, 2020 for each of our named executive officers.
Option Awards
Stock Awards
Number of
Market Value of
Number of Securities Underlying Option
Shares or Units of Shares or Units of
Unexercised Options
Exercise
Stock That Have Not Vested (3)
Stock That Have Not Vested (4)
Exercisable Unexercisable
Price
Name
(#)
(#) —
($) Option Expiration Date $3.00 December 31, 2023 7.47 September 30, 2027
(#)
($)
Jerry J. Baack
100,000 (1) 90,000 (1) 16,250 (2) 27,500 (1) 90,000 (1) 6,750 (2) 75,000 (1) 90,000 (1) 6,250 (2)
60,000 (1) 48,750 (2)
12.92
December 6, 2029
40,536
$506,295
Mary Jayne Crocker
—
3.00 December 31, 2023 7.47 September 30, 2027
60,000 (1) 20,250 (2)
12.92
December 6, 2029
21,136
263,989
Jeffrey D. Shellberg
—
3.00 December 31, 2023 7.47 September 30, 2027
60,000 (1) 18,750 (2)
12.92
December 6, 2029
19,728
246,403
(1) Option awards vest or vested in 20% increments on the first five anniversaries of the date of grant. All outstanding unvested options are accelerated and vest in full upon a change in control of the Company or in the event of the death of a named executive officer. (2) Option awards vest or vested in 25% increments on the first four anniversaries of the date of grant. All outstanding unvested options are accelerated and vest in full upon a change in control of the Company or in the event of the death of a named executive officer. (3) Restricted stock awards and units vest in 25% increments on the first four anniversaries of the date of the grant. All outstanding unvested restricted stock awards and units are accelerated and vest in full upon an involuntary termination or a termination by the named executive officer for good reason, in each case in connection with a change in control of the Company, or in the event of the death or disability of a named executive officer. (4) The value of the unvested restricted stock awards and units is based upon the closing stock price of $12.49 as of December 31, 2020.
2021 Proxy Statement
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