Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Cover [Abstract] | |
Document Type | DEF 14A |
Entity Registrant Name | OMEGA FLEX, INC. |
Entity Central Index Key | 0001317945 |
Amendment Flag | false |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Year (1) Summary Compensation Table Total for PEO ($) Compensation Actually Paid to PEO ($) (2) Average Summary Compensation Table Total for Non-PEO NEOs ($) Average Compensation Actually Paid to Non-PEO NEOs ($) (3) OmegaFlex Total Shareholder Return ($) (4) Index Total Shareholder Return ($) (5) OmegaFlex Net Income ($) OmegaFlex Earnings before interest and tax ($) Value of Initial Fixed $100 Investment Based on: (In Thousands) Year (1) Summary Compensation Table Total for PEO ($) Compensation Actually Paid to PEO ($) (2) Average Summary Compensation Table Total for Non-PEO NEOs ($) Average Compensation Actually Paid to Non-PEO NEOs ($) (3) OmegaFlex Total Shareholder Return ($) (4) Index Total Shareholder Return ($) (5) OmegaFlex Net Income ($) OmegaFlex Earnings before interest and tax ($) (a) (b) (c) (d) (e) (f) (g) (h) (i) 2022 2,598,910 2,598,910 608,885 430,173 89.61 175.02 23,622 30,805 2021 2,975,113 2,975,113 1,134,791 1,132,848 120.46 156.92 26,195 35,083 2020 2,425,216 2,425,216 875,111 1,254,504 137.37 106.60 19,910 26,600 | ||
Company Selected Measure Name | earnings before interest and taxes | ||
Named Executive Officers, Footnote [Text Block] | (1) Kevin R. Hoben | ||
PEO Total Compensation Amount | $ 2,598,910 | $ 2,975,113 | $ 2,425,216 |
PEO Actually Paid Compensation Amount | 2,598,910 | 2,975,113 | 2,425,216 |
Non-PEO NEO Average Total Compensation Amount | 608,885 | 1,134,791 | 875,111 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 430,173 | 1,132,848 | 1,254,504 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Average for Non-PEO NEOs 2022 2021 2020 Average SCT Total for Non-PEO NEOs (column(d)) $ 608,885 $ 1,134,791 $ 875,111 - aggregate change in actuarial present value of pension benefits - - - + service cost of pension benefits - - - + prior service cost of pension benefits - - - - SCT “Stock Awards” column value 285,048 150,670 176,175 - SCT “Option Awards” column value - - - + year-end fair value of equity awards granted in the covered year that were outstanding and unvested as of the covered year-end 48,212 35,937 90,106 -/+ year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end 27,660 55,471 184,109 + vesting date fair value of equity awards granted and vested in the covered year - - - -/+ year-over-year change in fair value of equity awards granted in prior years that vested in the covered year (7,625 ) 28,956 181,506 -/+ year-over-year change in fair value of equity awards vested in prior years not matured and paid in the covered year (42,911 ) 2,442 178,903 -/+ change in fair value of equity awards vested in prior years that matured and were paid in the covered year 57,540 8,400 (117,018 ) - fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year - - - + dollar value of dividends/earnings paid on equity awards in the covered year 23,460 17,520 37,962 + excess fair value for equity award modifications - - - Average Compensation Actually Paid to Non-PEO NEOs (column (e)) $ 430,173 $ 1,132,848 $ 1,254,504 | ||
Equity Valuation Assumption Difference, Footnote [Text Block] | (2) Because the PEO does not have equity awards, there is no adjustment. | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Moreover, the following graphical comparisons show the relationships between certain figures included in the Pay Versus Performance Table for each of 2022, 2021, and 2020, including: (1) a comparison of our total shareholder return and the total shareholder return of the S&P 500 Building Products Index; and (2) comparisons between our PEO and average non-PEO NEO compensation actually paid, and each of the performance measures set forth in columns (f), (h) and (i) of the Pay Versus Performance Table: | ||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Tabular List [Table Text Block] | The following table lists the financial performance measures that we believe represent the most important financial performance measures used to link compensation actually paid to our NEOs for 2022 to Company performance: Total Shareholder Return Net Income Earnings Before Interest and Tax | ||
Total Shareholder Return Amount | $ 89.61 | 120.46 | 137.37 |
Peer Group Total Shareholder Return Amount | 175.02 | 156.92 | 106.60 |
Net Income (Loss) | $ 23,622,000 | $ 26,195,000 | $ 19,910,000 |
Company Selected Measure Amount | 30,805,000 | 35,083,000 | 26,600,000 |
PEO Name | Kevin R. Hoben | Kevin R. Hoben | Kevin R. Hoben |
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Total Shareholder Return | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net Income | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Earnings Before Interest and Tax | ||
Aggregate Change in Actuarial Present Value of Pension Benefits [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | |||
Service Cost of Pension Benefits [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | |||
Prior Service Cost of Pension Benefits [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | |||
SCT Stock Awards Column Value [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 285,048 | 150,670 | 176,175 |
SCT Option Awards Column Value [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | |||
Year End Fair Value of Equity Awards Granted in the Covered Year that Were Outstanding and Unvested as of the Covered Year End [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 48,212 | 35,937 | 90,106 |
Year Over Year Change in Fair Value of Equity Awards Granted in Prior Years that are Outstanding and Unvested as of the Covered Year End [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 27,660 | 55,471 | 184,109 |
Vesting Date Fair Value of Equity Awards Granted and Vested in the Covered Year [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | |||
Year Over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Covered Year [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (7,625) | 28,956 | 181,506 |
Year Over Year Change in Fair Value of Equity Awards Vested in Prior Years not Matured and Paid in the Covered Year [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (42,911) | 2,442 | 178,903 |
Change in Fair Value of Equity Awards Vested in Prior Years that Matured and were Paid in the Covered Year [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 57,540 | 8,400 | (117,018) |
Fair Value as of Prior Year End of Equity Awards Granted in Prior Years that Failed to Vest in the Covered Year [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | |||
Dollar Value of Dividends Earnings Paid on Equity Awards in the Covered Year [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 23,460 | 17,520 | 37,962 |
Excess Fair Value For Equity Award Modifications [Member] | Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount |