{"url_path":"/sec/nrom/10-k/2026/item-11","section_key":"item-11","section_title":"Item 11 EXECUTIVE COMPENSATION**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-06-08","source_url":"https://www.sec.gov/Archives/edgar/data/709005/0001654954-26-005747-index.html","accession_number":"0001654954-26-005747","cik":"0000709005","ticker":"NROM","issuer_name":"NOBLE ROMANS INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/709005/0001654954-26-005747-index.html","primary_entity_key":"0000709005","primary_entity_name":"NOBLE ROMANS INC"},"word_count":1167,"has_tables":true,"body_markdown":"**ITEM 11. EXECUTIVE COMPENSATION**\n\n \n\n**Summary Compensation Table for 2024 and 2025**\n\n \n\nThe following table sets forth the cash and non-cash compensation awarded to or earned by the Executive Chairman of the Board and Chief Financial Officer, the Chief Executive Officer, President and Secretary and the one other highest paid executive officer of the Company.\n\n \n\nName and Principal Position(s)\n\n \n\nYear\n\n \n\nSalary\n\n \n\n \n\nNon-Equity\n\nIncentive\n\nCompensation\n\n \n\n \n\n    Option\n\nAwards(1)\n\n \n\n \n\nTotal\n\nCompensation\n\n \n\nPaul W. Mobley\n\n \n\n2025\n\n \n$352,750\n \n\n \n$-\n \n\n \n$3,200\n \n\n \n$355,950\n \n\nExecutive Chairman of the Board and Chief Financial Officer\n\n \n\n2024\n\n \n$330,750\n \n\n \n$-\n \n\n \n\n$ 12,667\n\n \n\n \n$343,417\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\nA. Scott Mobley\n\n \n\n2025\n\n \n$513,349\n \n\n \n$-\n \n\n \n$6,800\n \n\n \n$520,149\n \n\nChief Executive Officer, President and Secretary\n\n \n\n2024\n\n \n$485,043\n \n\n \n$-\n \n\n \n$8,867\n \n\n \n$493,910\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\nTroy Branson\n\n \n\n2025\n\n \n$266,309\n \n\n \n$-\n \n\n \n$1,600\n \n\n \n$267,909\n \n\nExecutive Vice President\n\n \n\n2024\n\n \n$240,668\n \n\n \n$-\n \n\n \n$3,200\n \n\n \n$243,868\n \n\n \n\n*(1) These amounts represent the grant date fair value of the option awards.  See “—Equity Incentive Awards” for information regarding valuation of stock option grants.*\n\n \n\n**Equity Incentive Awards**\n\n \n\nThe Company maintains an employee stock option plan for its employees, officers and directors that is designed to motivate them to increase shareholder value. Any employee, officer or director of the Company is eligible to be awarded options under the plan. The employee stock option plan provides that any options issued pursuant to the plan for non-director employees will have a three-year vesting period and for director employees will vest one-third each year and both will expire ten years after the date of grant. The vesting period is intended to provide incentive for longevity with the Company. Awards under the plan are periodically made at the recommendation of the Executive Chairman/Chief Financial Officer and President/Chief Executive Officer and then considered and approved or changed by the board of directors. The employee stock option plan does not have a limit on the number of shares that may be issued under the plan.\n\n \n\n \n\n25\n\n*Table of Contents*\n\n \n\nThe Summary Compensation Table includes the grant date fair value for stock options granted in 2025 to the named executive officers under the Company’s employee stock option plan. The Company determines the grant date fair value of stock options calculated in accordance with ASC Topic 718. See Note 9 to the Notes to the Company’s Consolidated Financial Statements in this Annual Report on Form 10-K a discussion of the Company’s determination of the grant date fair value of stock options.\n\n \n\nIn 2025, the Company granted options for 565,000 shares and 652,500 stock options were forfeited.\n\n \n\n**Employment Agreements**\n\n \n\nPaul W. Mobley has an employment agreement with the Company which: (A) fixes his base compensation at $752,456 per year for 2025 (although Mr. Mobley voluntarily reduced his base compensation to $352,750 for 2025 and pursuant to an agreement entered into in conjunction with the Corbel financing in 2020 Mr. Mobley agreed to limit his salary in future years to a 5% per annum increase during the term of the Corbel financing); (B) provides for reimbursement of travel and other expenses incurred in connection with his employment, including the furnishing of an automobile and health and accident insurance similar to that provided other employees; (C) provides group life insurance in accordance with the group policy provided all salaried employees; and (D) provides for the Company to pay premiums for life insurance pledged to Corbel as security. The initial term of the agreement was seven years and the term automatically renews each year for a seven-year period unless the board of directors takes specific action to not renew. The agreement is terminable by the Company for cause as defined in the agreement. The agreement does not provide for any benefits payable as a result of a change of control of the Company.\n\n \n\nA. Scott Mobley has an employment agreement with the Company which: (A) fixes his base compensation at $669,744 per year for 2025 (although Mr. Mobley voluntarily reduced his base compensation to $513,349 for 2025 and pursuant to an agreement entered into in conjunction with the Corbel financing in 2020 Mr. Mobley agreed to limit his salary in future years to a 5% per annum increase during the term of the Corbel financing); (B) provides for reimbursement of travel and other expenses incurred in connection with his employment, including the furnishing of an automobile and health and accident insurance similar to that provided other employees; (C) provides group life insurance in accordance with the group policy provided all salaried employees; and (D) provides for the Company to pay premiums for life insurance pledged to Corbel as security. The initial term of the agreement was five years and the term automatically renews each year for a five-year period unless the board of directors takes specific action to not renew. The agreement is terminable by the Company for cause as defined in the agreement. The agreement does not provide for any benefits payable as a result of a change of control of the Company.\n\n \n\n \n\n26\n\n*Table of Contents*\n\n \n\n**Outstanding Equity Awards at Fiscal Year-End**\n\n \n\nThe following table sets forth information concerning the outstanding equity awards of the executive officers named in the Summary Compensation Table as of December 31, 2025.\n\n \n\n \n\n \n\n **Option Awards**\n \n\n**Name**\n\n \n\n**Number of Securities Underlying**\n\n**Unexercised Options (#) Exercisable**\n\n \n\n \n\n**Number of Securities Underlying**\n\n**Unexercised Options****(#) Unexercisable**\n\n \n\n \n\n**Option Exercise**\n\n**Price ($)**\n\n \n\n \n\n**Option Expiration**\n\n**Date**\n \n\nPaul W. Mobley\n\n \n\n \n60,000\n \n\n \n\n \n\n \n\n \n\n \n0.53\n \n\n \n\n7/7/26\n \n\n \n\n \n\n \n70,000\n \n\n \n\n \n\n \n\n \n\n \n0.51\n \n\n \n\n7/7/27\n \n\n \n\n \n\n \n70,000\n \n\n \n\n \n\n \n\n \n\n \n0.623\n \n\n \n\n7/6/28\n \n\n \n\n \n\n \n80,000\n \n\n \n\n \n\n \n\n \n\n \n0.60\n \n\n \n\n7/2/29\n \n\n \n\n \n\n \n70,000\n \n\n \n\n \n\n \n\n \n\n \n0.40\n \n\n \n\n9/30/30\n \n\n \n\n \n\n \n70,000\n \n\n \n\n \n\n \n\n \n\n \n0.70\n \n\n \n\n7/2/31\n \n\n \n\n \n\n \n70,000\n \n\n \n\n \n\n \n\n \n\n \n0.22\n \n\n \n\n6/1/32\n \n\n \n\n \n\n \n106,084\n \n\n \n\n \n212,167\n \n\n \n\n \n0.38\n \n\n \n\n8/24/34\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n80,000\n \n\n \n\n \n0.18\n \n\n \n\n9/16/35\n \n\nA. Scott Mobley\n\n \n\n \n70,000\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.53\n \n\n \n\n7/7/26\n \n\n \n\n \n\n \n90,000\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.51\n \n\n \n\n7/7/27\n \n\n \n\n \n\n \n80,000\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.623\n \n\n \n\n7/6/28\n \n\n \n\n \n\n \n100,000\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.60\n \n\n \n\n7/2/29\n \n\n \n\n \n\n \n80,000\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.40\n \n\n \n\n9/30/30\n \n\n \n\n \n\n \n120,000\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.70\n \n\n \n\n7/2/31\n \n\n \n\n \n\n \n120,000\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.22\n \n\n \n\n6/1/32\n \n\n \n\n \n\n \n73,889\n \n\n \n\n \n147,778\n \n\n \n\n \n0.38\n \n\n \n\n8/24/34\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n170,000\n \n\n \n\n \n0.18\n \n\n \n\n9/16/35\n \n\nTroy Branson\n\n \n\n \n35,000\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.53\n \n\n \n\n7/7/26\n \n\n \n\n \n\n \n42,500\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.51\n \n\n \n\n7/7/27\n \n\n \n\n \n\n \n42,500\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.623\n \n\n \n\n7/6/28\n \n\n \n\n \n\n \n42,500\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.60\n \n\n \n\n7/2/29\n \n\n \n\n \n\n \n30,000\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.40\n \n\n \n\n9/30/30\n \n\n \n\n \n\n \n35,000\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.70\n \n\n \n\n7/2/31\n \n\n \n\n \n\n \n70,000\n \n\n \n\n \n\n \n\n \n\n \n\n \n0.22\n \n\n \n\n6/1/32\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n80,000\n \n\n \n\n \n0.38\n \n\n \n\n8/24/34\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n40,000\n \n\n \n\n \n0.18\n \n\n \n\n9/16/35\n \n\n \n\nThe employee stock option plan provides that any options issued pursuant to the plan for non-director employees will have a three-year vesting period and for director employees will vest one-third each year, so long as the optionee continues to be employed by the Company, and both will expire ten years after the date of grant.\n\n \n\n \n\n27\n\n*Table of Contents*\n\n \n\n**DIRECTOR COMPENSATION **\n\n \n\n**Name**\n\n \n\n**Fees Earned or**\n\n**Paid in Cash ($)**\n\n \n\n \n\n**Option**\n\n**Awards ($)**\n\n \n\n \n\n**All Other**\n\n**Compensation ($)**\n\n \n\n \n\n**Total ($)**\n\n \n\nDouglas H. Coape-Arnold\n\n \n\n \n21,500\n \n\n \n\n \n2,600\n \n\n \n\n \n-\n \n\n \n\n \n24,100\n \n\nMarcel Herbst (2)\n\n \n\n \n16,000\n \n\n \n\n \n-\n \n\n \n\n \n\n \n\n \n\n \n\n \n16,000\n \n\nWilliam Wildman (3)\n\n \n\n \n10,000\n \n\n \n\n \n-\n \n\n \n\n \n\n \n\n \n\n \n\n \n10,000\n \n\nJeffrey Roberts (1)\n\n \n\n \n5,000\n \n\n \n\n \n2,600\n \n\n \n\n \n-\n \n\n \n\n \n7,600\n \n\n \n\n \n\n(1)\n\nMr. Roberts joined the Board effective as of September 16, 2025.\n\n \n\n(2)\n\nMr. Herbst resigned from the Board effective September 16, 2025.\n\n \n\n(3)\n\nMr. Wildman passed away on July 6, 2025.\n\n \n\nEach non-employee director is compensated: $20,000 as an annual retainer fee paid quarterly; a $500 fee for each board of directors meeting attended. The directors are all eligible for stock option grants and are reimbursed for out-of-pocket expenses incurred in connection with their board service. The board of directors currently does not have any standing committees.\n\n \n\nThe Company does not pay any separate compensation for directors that are also employees of the Company."}