Fiscal 20192021
During fiscal 2019,2021, Kathleen Larsen received an aggregate of $461,466$500,498 in the form of salary, (includingof which $35,750 constitutes a payment of $31,781 for accrued but unused vacation in fiscal 2019 in accordance with Company policy), $93,4802021, an annual incentive bonus of $232,374, $220,480 in the form of option grants and $81,465$61,198 in the form of stock awards.
During fiscal year 2019,2021, Dustan Sheehan received an aggregate of $98,568$128,750 in the form of salary, $23,370an annual incentive bonus of $45,063, $186,030 in the form of option grants, and $20,365$30,597 in the form of stock awards.
During fiscal year 2019,2021, Joshua Sheehan received an aggregate of $115,940$128,750 in the form of salary, $46,740an annual incentive bonus of $45,063, $34,450 shares in the form of option grants and $40,729$30,597 in the form of stock awards.
Mr. Larsen’s son, Parker Larsen, is employed by the Company as a Product Support Engineer. Parker Larsen is not an executive officer of the Company. During fiscal 2019,2021, Parker Larsen received an aggregate of $67,600$77,932 in the form of salary, $23,370an annual incentive bonus of $31,627, $34,450 in the form of option grants and $20,365$30,597 in the form of stock awards. Parker Larsen is currently compensated at a level the Company believes is comparable to other employees in similar positions of responsibility at comparable companies.
Robert D. Short III, Ph.D., the Company’s Chief Technical Officer and Chief Scientist, is the father-in-law of Corby Hoback, who is employed by the Company as a Senior Principal Engineer. Corby Hoback is not an executive officer of the Company. During fiscal 2019,2021, Corby Hoback received an aggregate of $174,811$206,000 in the form of salary, $58,425an annual incentive bonus of $72,100, $86,125 in the form of option grants and $50,915$38,248 in the form of stock awards. Corby Hoback is currently compensated at a level that the Company believes is comparable to other employees in similar positions of responsibility at comparable companies.
During fiscal 20192021, the Company leased the use of an aircraft from K2 Investment Fund LLC (“LLC”) for business travel for employees of the Company (the “Aircraft”). The Company incurred approximately $791,000, $324,000, and $1,790,000 in rental fees (including fees and other reimbursements)reimbursements to the LLC during fiscalin 2021, 2020 and 2019, for such use.respectively. Kendall Larsen and Kathleen Larsen are the sole member-managers of the LLC and control the equity interests of the LLC. On January 31, 2015, the Company entered into a 12-month non-exclusive lease with the LLC for use of the plane at a rate of $8,100approximately $8,000 per flight hour, with no minimum usage requirement. The agreement contains other terms and conditions normal in such transactions and can be cancelled by either the Company or the LLC with 30-days’ notice. The agreement renews on an annual basis unless terminated by either party. Neither party has exercised their termination rights. The audit committee has approved the rental fees and lease agreement.
Fiscal 2018
During fiscal 2018, Kathleen Larsen received an aggregate of $701,651 in the form of salary and bonus (including payment of $30,268 for accrued, but unused vacation in fiscal 2019 in accordance with Company policy), $826,600 in the form of option grants and $42,666 in the form of stock awards. During fiscal year 2018, Dustan Sheehan received an aggregate of $129,190 in the form of salary and bonus, $11,650 in the form of option grants, and $10,666 in the form of stock awards. During fiscal year 2018, Joshua Sheehan received an aggregate of $138,887 in the form of salary and bonus, $11,650 in the form of option grants and $10,666 in the form of stock awards.
During fiscal 2018, Parker Larsen received an aggregate of $70,200 in the form of salary and bonus, $11,650 in the form of option grants, and $10,666 in the form of stock awards.
During fiscal 2018, Corby Hoback received an aggregate of $239,324 in the form of salary and bonus, $113,425 in the form of option grants and $107,666 in the form of stock awards.
During fiscal 2018, the Company leased the use of the Aircraft from LLC for business travel for employees of the Company. The Company incurred approximately $1,590,000 in rental fees (including fees and other reimbursements) to the LLC during fiscal 2018 for such use.