Michelle Heim
About Michelle Heim
Michelle Heim is Lifeloc Technologies’ Controller and Chief Accounting Officer, appointed on September 24, 2020, after joining Lifeloc in May 2013 in customer service and accounting roles; she is 46 years old and holds a B.S. in Business (Accounting) from Metropolitan State University of Denver (December 2021) . Company pay-versus-performance disclosures show total shareholder return of $220.92 (2021), $100.00 (2022), and $102.77 (2023), framing the recent equity context in which her compensation and incentives operate . Recent company fundamentals: revenues were $7.05M*, $8.48M*, $9.33M*, and $8.54M* in FY2021–FY2024, with EBITDA of -$0.002M*, $0.085M*, $0.069M*, and -$1.114M*, respectively, indicating a post-2023 profitability dip amid top-line variability (Values retrieved from S&P Global). Her compensation mix is predominantly fixed cash; the company has not granted stock awards since 2021 and has no severance or change-in-control plans for NEOs, shaping alignment and retention dynamics .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lifeloc Technologies (LCTC) | Customer Service Advisor | May 2013–2013 | Internal hire pipeline for operational roles |
| Lifeloc Technologies (LCTC) | Accountant | 2013–2020 | Supported accounting functions prior to CAO appointment |
| Lifeloc Technologies (LCTC) | Controller & Chief Accounting Officer | Sep 24, 2020–present | Elevated to principal accounting role; governance coverage under Code of Ethics |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Various companies | Order management positions | Pre-2013 | Not disclosed beyond general responsibilities |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | 82,030 | 92,300 | 113,693 |
| Bonus ($) | 0 | 0 | 5,000 |
| Stock & Option Awards ($) | 0 | 0 | 0 |
| All Other Compensation ($) | 0 | 2,769 | 3,508 |
| Total ($) | 82,030 | 95,069 | 122,201 |
Footnote: “All Other Compensation” has historically included items such as 401(k) matching; no automobile allowance; reimbursed business expenses do not include a compensation element .
Performance Compensation
- Annual Cash Incentive Structure
| Year | Metric | Weighting | Target | Actual | Payout ($) | Vesting |
|---|---|---|---|---|---|---|
| 2024 | Not disclosed | Not disclosed | Not disclosed | Not disclosed | 5,000 | Cash (N/A) |
| 2023 | No bonus paid | — | — | — | 0 | — |
| 2022 | No bonus paid | — | — | — | 0 | — |
- Equity Awards and Vesting
| Grant Date | Type | Shares | Exercise Price ($) | Vesting | Expiration |
|---|---|---|---|---|---|
| Mar 1, 2020 | Stock Option | 1,500 | 3.80 | Fully vested at grant (2013 Plan) | Mar 1, 2025 |
| Mar 13, 2021 | Stock Option | 3,500 | 3.80 | Fully vested at grant | Mar 13, 2026 |
Activity: All of the 3,500 options were exercised on Feb 28, 2025 and the underlying shares were sold to EDCO Partners LLLP on the same date; no disclosure that the 1,500 expiring Mar 1, 2025 were exercised .
Equity Ownership & Alignment
| As-of Date | Direct Shares Owned | Options (Exercisable) | % of Class | Pledging | Notes |
|---|---|---|---|---|---|
| Apr 24, 2024 | 5,000 | 1,500 (3/1/2025), 3,500 (3/13/2026) | * (<1%) | Not disclosed | There were no stock awards outstanding as of 12/31/2023 |
| Dec 31, 2024 | — | 1,500 (3/1/2025), 3,500 (3/13/2026) | — | Not disclosed | Company no longer grants option-like awards post-2021 |
| Feb 28, 2025 (event) | — | 3,500 exercised | — | Not disclosed | Shares from exercised options sold to EDCO Partners LLLP |
Policies: The company has no explicit anti-hedging prohibition; an Insider Trading Policy is in place. Stock ownership guidelines and pledging practices are not disclosed for executives .
Employment Terms
| Term | Provision |
|---|---|
| Employment agreement | Not specifically disclosed for Heim (CEO agreement detailed separately) |
| Severance | No plan providing payments at, following, or in connection with resignation/termination for NEOs |
| Change-in-control | No plan providing payments or changes in responsibilities post-CIC for NEOs |
| Option grant policy | Company is not currently in practice of granting option-like awards; none since FY2021 |
| Anti-hedging | No explicit anti-hedging policy; disclosure notes lack of explicit prohibition |
| Insider trading | Formal Insider Trading Policy governs transactions by directors, senior management, and employees |
| Clawback | Not disclosed |
| Ownership guidelines | Not disclosed |
| Non-compete / Non-solicit | Not disclosed |
Company Performance Context
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Revenues ($) | 7,054,430* | 8,481,993* | 9,329,566* | 8,538,145* |
| EBITDA ($) | -2,020* | 85,344* | 69,385* | -1,114,178* |
Values retrieved from S&P Global.
| Pay vs Performance Indicator | 2021 | 2022 | 2023 |
|---|---|---|---|
| Value of $100 Investment (TSR) | $220.92 | $100.00 | $102.77 |
Investment Implications
- Minimal severance/CIC protections reduce “golden parachute” risk and imply limited retention payments if she exits; equity incentives are small and fully vested, with no RSUs/PSUs outstanding, reinforcing a cash-heavy, low equity-at-risk pay mix .
- The Feb 28, 2025 exercise and sale of 3,500 options to EDCO Partners LLLP removes near-term selling pressure from that tranche, but signals liquidity preference over continued exposure; monitor Form 4s for any disposition of the remaining 1,500 options expiring Mar 1, 2025 .
- Lack of an explicit anti-hedging prohibition and absence of disclosed stock ownership guidelines create potential alignment gaps versus best-practice governance, though an Insider Trading Policy is in place .
- With the company ceasing option-like awards after 2021 and no performance-based equity (RSUs/PSUs) disclosed, future alignment levers likely depend on cash bonus design; however, no disclosed performance metrics tie to her bonus, limiting pay-for-performance transparency .
Overall: Heim’s compensation and ownership profile indicate low equity exposure and limited contractual protections; the recent option exercise and sale to a major holder underscores pragmatism over long-term holding, suggesting retention risk is more linked to role satisfaction and internal advancement than to compensation economics .