Daily Journal Corporation filed an 8-K on November 2, 2026, disclosing a new CEO Compensation Agreement with Steven Myhill-Jones and a CFO Letter Agreement with Erik Nakamura, both effective during the company's 2026 and 2027 fiscal years, respectively.

Key Highlights

  • CEO base salary: Steven Myhill-Jones is entitled to an annual base salary of $700,000, effective October 1, 2025.
  • One-time cash award: Mr. Myhill-Jones will receive a one-time cash payment of $475,000 on the first regular payroll date following the agreement date.
  • RSU grant: Mr. Myhill-Jones received 800 restricted stock units on October 30, 2026, with 400 vesting April 1, 2027, and 400 vesting April 1, 2028.
  • Equity incentive cap: Mr. Myhill-Jones' annual equity incentive is capped at 400 shares per fiscal year for fiscal years 2026 and 2027.
  • CFO base salary: Erik Nakamura is entitled to an annual base salary of $400,000, effective October 1, 2026.
  • CFO long-term incentive: Mr. Nakamura is eligible for an annual long-term incentive with a target value of $100,000, capped at 250 restricted stock units per fiscal year, vesting in equal annual installments over three years.

Compensation Structure for Daily Journal's CEO and CFO

According to the filing, Daily Journal Corporation (NASDAQ:DJCO), a Los Angeles-based publisher and provider of court technology software through its Journal Technologies segment, entered into the CEO Compensation Agreement with Steven Myhill-Jones on October 30, 2026. Mr. Myhill-Jones, who has served as Chief Executive Officer since March 2022, is entitled to a $700,000 annual base salary effective October 1, 2025. The filing states the agreement reflects the Board's recognition of his "substantial contributions to the Company's growth, performance and strategic development during his tenure."

The filing discloses that Mr. Myhill-Jones is eligible for an annual discretionary bonus with a Compensation Committee guideline target of 50% of his base salary, though bonuses are described as not guaranteed and may be higher or lower. For fiscal years 2026 and 2027, he may also earn a cash incentive equal to 4% of the company's operating income, capped at two times his annual base salary, and an equity incentive equal to 1% of operating income, capped at 400 shares per fiscal year. The agreement defines operating income as consolidated pre-tax operating income under GAAP, before deduction of the incentive compensation and excluding results of certain acquired or disposed businesses and certain extraordinary events.

The CFO Letter Agreement with Erik Nakamura, dated October 29, 2026, sets his annual base salary at $400,000 effective October 1, 2026. According to the filing, Mr. Nakamura's performance will be reviewed annually in July, with any approved salary adjustments effective October 1. His discretionary bonus target is $200,000, equivalent to 50% of base salary, and any bonus awarded will be reduced by payments received through the Company's Profit Sharing (Units) Program. Mr. Nakamura's employment is described as "at will and for no specified period."

What Was Disclosed

Daily Journal Corporation disclosed new executive compensation terms for its CEO Steven Myhill-Jones and CFO Erik Nakamura through two separate agreements dated October 29-30, 2026, covering base salaries, discretionary bonuses, cash incentives, equity awards, and severance conditions.