An important aspect of performing the ADP and ACP tests is to properly identify the HCEs. IRC section 414(q) defines HCEs to generally include any employee who:
Was a 5% owner at any time during the year or preceding year (a 5% owner is someone who owns more than 5% of the employer), or For the preceding year had compensation from the employer in excess of $115,000 (for 2012 and 2013; subject to cost-of-living adjustments in later years) and, if the employer elects, was a member of the top-paid group (top 20%) of employees.
Family aggregation rules may affect the treatment of stock owned directly or indirectly by family members. The law treats any individual who is a spouse, child, grandparent or parent of someone who is a 5% owner, or who, together with that individual, would own more than 5% of a company’s stock as a 5% owner. As a 5% owner, each of these individuals is an HCE for the plan year. It's important to identify the family ownership interests of all company stock and to forward that information to the TPA, advisor or persons performing the nondiscrimination tests.
The basic answer is that if you are a 5% or more owner (or your spouse or lineal descendants are), then you're HCE. Also, if you're an officer of the company, you're HCE. Here's the link to the actual IRS code: http://www.law.cornell.edu/uscode/text/26/414#q (note, the limitation is $115,000, as you correctly point out, for compensation: http://www.irs.gov/uac/2013-Pension-Plan-Limitations).
Sharon, yes, if you own more than 5% or are an officer, regardless of income, you are a HCE. Assuming that, you would have 4 HCE’s