| QUANEX BUILDING PRODUCTS CORPORATION | | | January | |
| 945 Bunker Hill Suite 900 Houston, Texas 77024 (713) 961-4600 | | |||
| Dear Fellow Stockholder: | | |||
| You are cordially invited to attend the Company’s Annual Meeting of Stockholders to be held at 8 a.m., C.S.T., on | | |||
| | | | This year you will be asked to vote in favor of the election of | |
| | | | THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE IN FAVOR OF EACH PROPOSAL OUTLINED IN THE ATTACHED PROXY. THE BOARD FURTHER URGES YOU TO VOTE AT YOUR EARLIEST CONVENIENCE, WHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING. | |
| | | | Thank you for your continued support. | |
| | | | Sincerely, | |
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| | | | William C. Griffiths Chairman of the Board | |
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| | Nominees for election to a term that will expire at the 2022 Annual Meeting | | | Principal Occupation | | | Age | | | Director Since | | |
| | Susan F. Davis | | | Retired Executive Vice President — Asia Pacific of Johnson Controls, Inc., a global leader in automotive systems, building efficiency and power solutions (Milwaukee, Wisconsin). | | | 67 | | | 2007 | | |
| | William C. Griffiths | | | Executive Chair of the Board, Quanex Building Products Corporation (Houston, Texas). | | | 69 | | | 2009 | | |
| | Donald R. Maier | | | Executive Consultant to Alto Pharmacy, an online pharmacy service company (San Francisco, California). | | | 56 | | | 2019 | | |
| | Meredith W. Mendes | | | Principal and Chief Operating Officer of Gresham Partners LLC, a wealth management firm (Chicago, Illinois). | | | 62 | | | 2019 | | |
| | Joseph D. Rupp | | | Retired Chair of the Board of Olin Corporation, a basic materials company concentrated in chemicals and ammunition (Clayton, Missouri). | | | 70 | | | 2007 | | |
| | Curtis M. Stevens | | | Retired Chief Executive Officer of Louisiana-Pacific Corporation, a leading building materials manufacturer (Nashville, Tennessee). | | | 68 | | | 2010 | | |
| | William E. Waltz, Jr. | | | President and and Chief Executive Officer of Atkore International Group, Inc. (Harvey, Illinois). | | | 56 | | | 2020 | | |
| | George L. Wilson | | | President and Chief Executive Officer, Quanex Building Products Corporation (Houston, Texas). | | | 52 | | | 2020 | | |
| Nominees for election to a term that will expire at the 2025 Annual Meeting | | | Principal Occupation | | | Age | | | Director Since | |
| Susan F. Davis | | | Retired Executive Vice President — Asia Pacific of Johnson Controls, Inc. (Milwaukee, Wisconsin). | | | 70 | | | 2007 | |
| Bradley E. Hughes | | | Retired President and Chief Executive Officer of Cooper Tire & Rubber Co. (Findlay, Ohio). | | | 61 | | | 2022 | |
| Jason D. Lippert | | | Chief Executive Officer of LCI Industries (Elkhart, Indiana). | | | 51 | | | 2021 | |
| Donald R. Maier | | | Executive Services Consultant to Chobani, Inc. (New Berlin, New York). | | | 59 | | | 2019 | |
| Curtis M. Stevens | | | Retired Chief Executive Officer of Louisiana-Pacific Corporation (Nashville, Tennessee). | | | 71 | | | 2010 | |
| William E. Waltz, Jr. | | | President and Chief Executive Officer of Atkore, Inc. (Harvey, Illinois). | | | 59 | | | 2020 | |
| George L. Wilson | | | President and Chief Executive Officer, Quanex Building Products Corporation (Houston, Texas). | | | 55 | | | 2020 | |
| Name and Age | | | Office and Length of Service | |
| George L. Wilson, 55 | | | President and Chief Executive Officer effective January 1, 2020 | |
| Scott M. Zuehlke, 47 | | | Senior Vice President — Chief Financial Officer & Treasurer effective November 1, 2019 | |
| Paul B. Cornett, 46 | | | Senior Vice President — General Counsel & Secretary effective November 1, 2019 | |
| Kimberley N. Garcia, 45 | | | Vice President — Chief Human Resources Officer effective November 1, 2021 | |
| Mark A. Livingston, 60 | | | Vice President — Chief Accounting Officer and Controller (2019 − May 2023) | |
| Name | | Fees Earned or Paid in Cash(1) ($) | | Restricted Stock Unit Awards(2) ($) | | Option Awards(2) ($) | | Change in Pension Value & Nonqualified Deferred Compensation Earnings(3) ($) | | All Other Compensation(4) ($) | | Total ($) | | Name | | Fees Earned or Paid in Cash(1) ($) | | Restricted Stock Unit Awards(2) ($) | | Option Awards(2) ($) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings(3) ($) | | All Other Compensation(4) ($) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||
| Robert R. Buck | | | | 71,500 | | | | | 80,663 | | | | | — | | | | | — | | | | | 16,492 | | | | | 168,655 | | | Susan F. Davis | | | | 112,000 | | | | | 100,001 | | | | | — | | | | | — | | | | | 22,369 | | | | | 234,370 | | | ||||||||||||
| Susan F. Davis | | | | 72,500 | | | | | 80,663 | | | | | — | | | | | — | | | | | 17,631 | | | | | 170,794 | | | William C. Griffiths | | | | 110,000 | | | | | 100,001 | | | | | — | | | | | — | | | | | 3,453 | | | | | 213,454 | | | ||||||||||||
| Donald R. Maier | | | | 79,000 | | | | | 80,663 | | | | | — | | | | | — | | | | | 2,357 | | | | | 162,020 | | | Bradley E. Hughes | | | | 87,500 | | | | | 100,001 | | | | | — | | | | | — | | | | | 3,558 | | | | | 191,059 | | | ||||||||||||
| Meredith W. Mendes | | | | 71,500 | | | | | 80,663 | | | | | — | | | | | — | | | | | 1,469 | | | | | 153,632 | | | Jason D. Lippert | | | | 87,500 | | | | | 100,001 | | | | | — | | | | | — | | | | | 4,980 | | | | | 192,481 | | | ||||||||||||
| Joseph D. Rupp | | | | 90,000 | | | | | 80,663 | | | | | — | | | | | — | | | | | 10,676 | | | | | 181,339 | | | Donald R. Maier | | | | 92,500 | | | | | 100,001 | | | | | — | | | | | — | | | | | 6,758 | | | | | 199,259 | | | ||||||||||||
| Curtis M. Stevens | | | | 77,500 | | | | | 80,663 | | | | | — | | | | | — | | | | | 14,095 | | | | | 172,258 | | | Meredith W. Mendes(5) | | | | 92,493 | | | | | 100,001 | | | | | — | | | | | — | | | | | 5,870 | | | | | 198,364 | | | ||||||||||||
| William E. Waltz Jr. | | | | — | | | | | 5,691 | | | | | — | | | | | — | | | | | — | | | | | 5,691 | | | Curtis M. Stevens | | | | 97,500 | | | | | 100,001 | | | | | — | | | | | — | | | | | 14,401 | | | | | 211,902 | | | ||||||||||||
| William E. Waltz Jr. | | | | 87,500 | | | | | 100,001 | | | | | — | | | | | — | | | | | 7,566 | | | | | 195,067 | | |
| | | Restricted Stock Units | | Stock Options | | | | | Restricted Stock Units | | Stock Options | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 Grants | | | Total Units Outstanding as of October 31, 2020 (#) | | | 2020 Grants | | | Total Stock Options Outstanding as of October 31, 2020 (#) | | | 2023 Grants | | | Total Units Outstanding as of October 31, 2023 (#) | | | 2023 Grants | | | Total Stock Options Outstanding as of October 31, 2023 (#) | | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | Grant Date | | Grant Date Fair Value ($) | | | | | | | Grant Date Fair Value ($) | | | Grant Date | | Grant Date Fair Value ($) | | Grant Date | | Grant Date Fair Value ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Buck | | | | 11/1/2019 | | | | | 80,663 | | | | | 25,950 | | | | | n/a | | | | | — | | | | | 20,876 | | | Name | | ||||||||||||||||||||||||||||||||||||||||||
| Davis | | | | 11/1/2019 | | | | | 80,663 | | | | | 33,361 | | | | | n/a | | | | | — | | | | | 15,876 | | | Davis | | | | 11/1/2022 | | | | | 100,001 | | | | | 47,114 | | | | | n/a | | | | | — | | | | | — | | | ||||||||||||
| Maier | | | | 11/1/2019 | | | | | 80,663 | | | | | 7,366 | | | | | n/a | | | | | — | | | | | — | | | Griffiths | | | | 11/1/2022 | | | | | 100,001 | | | | | 10,792 | | | | | n/a | | | | | — | | | | | — | | | ||||||||||||
| Mendes | | | | 11/1/2019 | | | | | 80,663 | | | | | 4,590 | | | | | n/a | | | | | — | | | | | — | | | Hughes | | | | 11/1/2022 | | | | | 100,001 | | | | | 7,928 | | | | | n/a | | | | | — | | | | | — | | | ||||||||||||
| Rupp | | | | 11/1/2019 | | | | | 80,663 | | | | | 33,361 | | | | | n/a | | | | | — | | | | | 24,008 | | | Lippert | | | | 11/1/2022 | | | | | 100,001 | | | | | 9,635 | | | | | n/a | | | | | — | | | | | — | | | ||||||||||||
| Stevens | | | | 11/1/2019 | | | | | 80,663 | | | | | 29,061 | | | | | n/a | | | | | — | | | | | 29,008 | | | Maier | | | | 11/1/2022 | | | | | 100,001 | | | | | 21,119 | | | | | n/a | | | | | — | | | | | — | | | ||||||||||||
| Waltz | | | | 10/7/2020 | | | | | 5,691 | | | | | 295 | | | | | n/a | | | | | — | | | | | — | | | Mendes(5) | | | | 11/1/2022 | | | | | 100,001 | | | | | — | | | | | n/a | | | | | — | | | | | — | | | ||||||||||||
| Stevens | | | | 11/1/2022 | | | | | 100,001 | | | | | 29,291 | | | | | n/a | | | | | — | | | | | 4,880 | | | ||||||||||||||||||||||||||||||||||||||||||||
| Waltz | | | | 11/1/2022 | | | | | 100,001 | | | | | 14,048 | | | | | n/a | | | | | — | | | | | — | | |
| | | Achieved Strong Earnings Despite Lower Revenue • Adjusted EBITDA(1) increased by 4.6% • Adjusted EBITDA %(1) increased by 160 basis points | | |
| | | Strengthened Balance Sheet and Improved Free Cash Flow • Repaid $85 million of borrowings from 1Q to 4Q • Cash from Operations increased by 50.1% to $147.1 million | | |
| | | Delivered Strong Results to Our Shareholders • Our Fiscal Year-End share price was $26.85, which is 21.2% higher than prior Year-End • Achieved three-year annualized Total Shareholder Return of +15.4% | | |
| | | Supported Our Employees and Communities • The Quanex Foundation donated more than $650,000 to various community organizations • Raised wages across multiple locations and experience levels | |
| What We Do | | | What We Don’t Do | | ||||||
| | | Link annual incentive compensation to the achievement of objective pre-established performance goals. | | | | | No tax gross ups for executive officers. | | ||
| | | Provide 70% of our long-term compensation in the form of | | | | | No hedging or pledging of Company stock. | | ||
| | | Target the market median for all elements of compensation. | | | | | No “single-trigger” change in control cash payments or equity | | ||
| | | Apply robust minimum stock ownership guidelines. | | | | | No excessive perquisites. | | ||
| | | Maintain | | | | | No liberal share recycling. | | ||
| | | Use and review compensation tally sheets. | | | | | No dividends on | | ||
| | | Evaluate the risk of our compensation programs. | | | | | | | | |
| | | Use an independent compensation consultant. | | | | | | | |
| Objectives | | | How We Meet Our Objectives | | ||
| Attract and retain effective leadership | | | • We provide a competitive total pay package, taking into account base salary, incentives, benefits, and perquisites for each executive. • We regularly benchmark our pay programs against the competitive market, comparing both fixed and variable at-risk compensation that is tied to short-term and long-term performance; we use the results of this analysis as context in making pay adjustments. • Our long-term plan includes three-year performance cycles for performance-based awards and three-year vesting schedules for time-based awards. • We compete effectively for the highest caliber people who will determine our long-term success. | | ||
| Motivate and reward executives for achieving specific financial goals | | | • We offer a compensation program that focuses on variable, performance-based compensation through annual and long-term incentive • Specific financial performance measures used in the incentive programs include: • In fiscal • In fiscal | |
| Objectives | | | How We Meet Our Objectives | | ||
| Create a strong financial incentive to meet or exceed long-term financial goals and build long-term value | | | • We link a significant part of total compensation to Quanex’s financial and stock price performance — over 70% of our compensation mix is performance-based. • We deliver 70% of long-term incentives in the form of performance-based • For SVPs and above, long-term compensation opportunities are weighted to deliver more than two times the target short-term incentive opportunity, resulting in a significant portion of our total compensation delivered in the form of long-term incentives. | | ||
| Align executive and shareholder interests | | | • In order to emphasize long-term shareholder returns, we require significant Quanex stock ownership among executives through the use of stock ownership guidelines. • The ultimate value of our annual equity grants is driven by stock price performance over the grant date value. • We use absolute TSR as the sole metric for 30% of our | |
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| Name and Principal Position | | Fiscal 2019 Base Salary | | Fiscal 2020 Base Salary | | Base Salary Increase | | Name and Principal Position | | Fiscal 2022 Base Salary | | Fiscal 2023 Base Salary | | Base Salary Increase | | ||||||||||||||||||||||||
| George L. Wilson President and CEO | | | $ | 495,000 | | | | $ | 575,000 | | | | | 16% | | | George L. Wilson President and CEO | | | $ | 725,000 | | | | $ | 800,000 | | | | | 10% | | | ||||||
| William C. Griffiths Executive Chairman | | | $ | 815,000 | | | | $ | 500,000 | | | | | (39)% | | | Scott M. Zuehlke Senior Vice President, CFO and Treasurer | | | $ | 403,000 | | | | $ | 455,000 | | | | | 13% | | | ||||||
| Scott M. Zuehlke Senior Vice President, CFO and Treasurer | | | $ | 250,000 | | | | $ | 330,000 | | | | | 32% | | | Paul B. Cornett Senior Vice President, General Counsel and Secretary | | | $ | 375,000 | | | | $ | 415,000 | | | | | 11% | | | ||||||
| Paul B. Cornett Senior Vice President, General Counsel and Secretary | | | $ | 240,000 | | | | $ | 310,000 | | | | | 29% | | | Kim Garcia Vice President, Chief Human Resources Officer | | | $ | 295,000 | | | | $ | 340,000 | | | | | 15% | | | ||||||
| Mark A. Livingston Vice President, Chief Accounting Officer and Controller | | | $ | 225,000 | | | | $ | 240,000 | | | | | 7% | | | Mark A. Livingston(1) Former Vice President, Chief Accounting Officer and Controller | | | $ | 290,000 | | | | $ | 315,000 | | | | | 9% | | | ||||||
| Kevin P. Delaney* Former Senior Vice President, GC and Secretary | | | $ | 375,000 | | | | | N/A | | | | | N/A | | |
| Participant | | Title | | Threshold | | Target | | Maximum | | Participant | | Title | | Threshold | | Target | | Maximum | | ||||||||||||||||||||||||||
| Wilson | | CEO | | | | 50% | | | | | 100% | | | | | 200% | | | Wilson | | CEO | | | | 50% | | | | | 100% | | | | | 200% | | | ||||||||
| Griffiths | | Executive Chair | | | | 50% | | | | | 100% | | | | | 200% | | | Zuehlke | | CFO | | | | 30% | | | | | 60% | | | | | 120% | | | ||||||||
| Zuehlke | | CFO | | | | 27.5% | | | | | 55% | | | | | 110% | | | Cornett | | GC | | | | 28.5% | | | | | 55% | | | | | 110% | | | ||||||||
| Cornett | | GC | | | | 25% | | | | | 50% | | | | | 100% | | | Garcia | | CHRO | | | | 28.5% | | | | | 55% | | | | | 110% | | | ||||||||
| Livingston | | CAO | | | | 25% | | | | | 50% | | | | | 100% | | | Livingston | | CAO | | | | 28.5% | | | | | 55% | | | | | 110% | | | ||||||||
| Delaney* | | Former GC | | | | N/A | | | | | N/A | | | | | N/A | | |
| Metric | | | Threshold ($ in thousands) | | | Target ($ in thousands) | | | Maximum ($ in thousands) | | |||||||||
| Revenue | | | | $ | 1,137 | | | | | $ | 1,264 | | | | | $ | 1,453 | | |
| Adjusted EBITDA | | | | $ | 143,679 | | | | | $ | 159,762 | | | | | $ | 183,589 | | |
| Adjusted EBITDA Margin | | | | | 11.9% | | | | | | 12.49 – 12.74% | | | | | | 13.24% | | |
| Working Capital as a Percentage of Sales | | | | | 12.34% | | | | | | 11.34% | | | | | | 10.34% | | |
| Participant | | Title | | Target % (as a % of salary) | | Achieved % (as a % of salary) | | Participant | | Title | | Target % (as a % of salary | | Achieved % (as a % of Target) | | Achieved % (as a % of salary | | ||||||||||||||||||||||
| Wilson* | | CEO | | | | 100% | | | | | 111% | | | Wilson | | CEO | | | | 100% | | | | | 84% | | | | | 84% | | | |||||||
| Griffiths | | Executive Chair | | | | 100% | | | | | 116% | | | Zuehlke | | CFO | | | | 60% | | | | | 84% | | | | | 50% | | | |||||||
| Zuehlke | | CFO | | | | 55% | | | | | 64% | | | Cornett | | GC | | | | 55% | | | | | 84% | | | | | 46% | | | |||||||
| Cornett | | GC | | | | 50% | | | | | 58% | | | Garcia | | CHRO | | | | 55% | | | | | 84% | | | | | 46% | | | |||||||
| Livingston | | CAO | | | | 50% | | | | | 58% | | | Livingston(1) | | CAO | | | | 55% | | | | | — | | | | | — | | | |||||||
| Delaney** | | Former GC | | | | N/A | | | | | N/A | | |
| Participant | | Title | | LTI Target | | Participant | | Title | | LTI Target | | ||||||||||
| Wilson | | CEO | | | $ | 1,250,000 | | | Wilson | | CEO | | | $ | 2,350,000 | | | ||||
| Griffiths* | | Executive Chair | | | $ | — | | | Zuehlke | | CFO | | | $ | 588,000 | | | ||||
| Zuehlke | | CFO | | | $ | 390,000 | | | Cornett | | GC | | | $ | 500,000 | | | ||||
| Cornett | | GC | | | $ | 285,000 | | | Garcia | | CHRO | | | $ | 300,000 | | | ||||
| Livingston | | CAO | | | $ | 160,000 | | | Livingston | | CAO | | | $ | 240,000 | | | ||||
| Delaney** | | Former GC | | | | N/A | | |
| Milestones | | | Absolute Total Shareholder Return Performance | | | Performance Restricted Stock Units Modifier | | ||||||
| Maximum | | | | | ≥50% | | | | | | 150% | | |
| Target | | | | | 20% | | | | | | 100% | | |
| Threshold | | | | | –20% | | | | | | 50% | | |
| Milestones | | RONA Performance | | Performance Share Modifier | | Milestones | | RONA Performance | | Performance Share Modifier | | ||||||||||||||||
| Maximum | | | | 9.9% | | | | | 200% | | | Maximum | | | | 23.6% | | | | | 200% | | | ||||
| Target | | | | 8.6% | | | | | 100% | | | Target | | | | 21.4% | | | | | 100% | | | ||||
| Threshold | | | | 7.3% | | | | | 75% | | | Threshold | | | | 19.3% | | | | | 75% | | |
| | | | | | | | | | | | | | | | | | | | | | Performance Share Metric Initial Payouts | | | | | | | | |||||||||
| | | | Relative TSR Percentile | | | EPS Growth(1) | | | R-TSR (50% weighting) | | | EPS (50% weighting) | | | Total Initial Payout(2) | | |||||||||||||||||||||
| Milestones | | | Cum. | | | Percent | | ||||||||||||||||||||||||||||||
| Performance Measures: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Maximum | | | | | 75% | | | | | $ | 2.19 | | | | | | 12% | | | | | | 100% | | | | | | 100% | | | | | | 200% | | |
| Target | | | | | 60% | | | | | $ | 2.07 | | | | | | 9% | | | | | | 50% | | | | | | 50% | | | | | | 100% | | |
| Threshold | | | | | 30% | | | | | $ | 1.96 | | | | | | 6% | | | | | | 37.5% | | | | | | 37.5% | | | | | | 75% | | |
| Actual Performance | | | | | 27% | | | | | $ | 0.62 | | | | | | (43)% | | | | | | —% | | | | | | —% | | | | | | —% | | |
| Absolute ROIC Improvement during Performance Period: | | | | 0% | | | | | 0.75% | | | | | 1.5% | | | | | 2.25% | | | | | 3.0% | | | | | 3.75% | | | Milestones | | RONA Performance | | Payout Opportunity | | ||||||||||||||
| Modifier Amount (as a % of EPS Growth and Relative TSR Award Modifiers): | | | | 0% | | | | | 10% | | | | | 20% | | | | | 30% | | | | | 40% | | | | | 50% | | | Performance Measures: | | | | | | | | | | | | ||||||||
| Maximum | | | | 14.5% | | | | | 200% | | | ||||||||||||||||||||||||||||||||||||||||
| Target | | | | 12.6% | | | | | 100% | | | ||||||||||||||||||||||||||||||||||||||||
| Threshold | | | | 10.3% | | | | | 75% | | | ||||||||||||||||||||||||||||||||||||||||
| Actual Performance | | | | 18.5% | | | | | 200% | | |
| Officer | | | Fiscal 2021 Performance Shares Granted (#) | | | Total Performance Shares Earned (200% of Target) (#) | | | Total Payout ($) | | |||||||||
| Wilson | | | | | 34,000 | | | | | | 68,000 | | | | | | 1,815,600 | | |
| Zuehlke | | | | | 9,700 | | | | | | 19,400 | | | | | | 517,980 | | |
| Cornett | | | | | 6,700 | | | | | | 13,400 | | | | | | 357,780 | | |
| Garcia | | | | | — | | | | | | — | | | | | | — | | |
| Livingston(1) | | | | | — | | | | | | — | | | | | | — | | |
| Officer | | Fiscal 2018 Performance RSUs Granted (#) | | A-TSR Total Payout ($) | | A-TSR Total Shares Granted (#) | | Cash Paid for Accumulated Dividends during Performance Period ($) | | Total Payout ($) | | Total Shares Issued (#) | | Officer | | Fiscal 2021 Performance RSUs Granted (#) | | TSR Total Shares Vested (139% of Target) (#) | | Cash Paid for Accumulated Dividends during Performance Period ($) | | ||||||||||||||||||||||||||||||||||||
| Wilson | | | | 10,800 | | | | | 154,213 | | | | | 7,074 | | | | | 5,942 | | | | | 160,155 | | | | | 4,433 | | | Wilson | | | | 24,000 | | | | | 33,281 | | | | $ | 31,950 | | | |||||||||
| Griffiths | | | | 25,800 | | | | | 368,398 | | | | | 16,899 | | | | | 14,195 | | | | | 382,593 | | | | | 10,249 | | | Zuehlke | | | | 6,800 | | | | | 9,430 | | | | $ | 9,053 | | | |||||||||
| Zuehlke | | | | 2,100 | | | | | 29,997 | | | | | 1,376 | | | | | 1,156 | | | | | 31,153 | | | | | 1,040 | | | Cornett | | | | 4,700 | | | | | 6,517 | | | | $ | 6,256 | | | |||||||||
| Cornett | | | | 1,600 | | | | | 22,846 | | | | | 1,048 | | | | | 880 | | | | | 23,726 | | | | | 792 | | | Garcia | | | | — | | | | | — | | | | | — | | | |||||||||
| Livingston* | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Livingston(1) | | | | — | | | | | — | | | | | — | | | |||||||||
| Delaney** | | | | 7,100 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | |
| Level | | | Typical Executive Position | | | Stock Ownership Goal | |
| 1 | | | CEO | | | 4x Base Salary | |
| 2 | | | SVP | | | 2x Base Salary | |
| 3 | | | VP | | | 1x Base Salary | |
| Executive Compensation Element | | | Action Item | |
| Base Salaries | | | • Review and/or adjust based on market review | |
| Short-Term Incentives | | | • Determine year-end results and approve payouts • Set goals for upcoming year | |
| Long-Term Incentives | | | • Determine performance results and approve long-term plan’s payouts • Set goals for long-term plan’s next three-year performance cycle • Determine and approve annual equity awards, including restricted stock awards and long-term performance based awards | |
| Severance Policy Benefits | | | ||||||||||||
| | | | | |||||||||||
| Tier | | | Qualifying Termination without Change in Control | | | Qualifying Termination following Change in Control | | | | |||||
| Tier 1 (Wilson) | | | • 2x base salary plus 2x target annual bonus at the time of Qualifying Termination, payable in installments on normal payroll schedule; and • Pro-rata annual bonus for year of termination based on actual Company performance and number of days worked by the Executive during the fiscal year, to be paid at the same time bonuses are paid to active employees; and • Continued health and welfare benefits, or reimbursement thereof, for eighteen (18) months for the Executive and his or her spouse and dependents, subject to earlier termination when the Executive becomes eligible for such benefits from a subsequent employer. | | | • 2.5x base salary plus 2.5x target annual bonus at the time of Qualifying Termination (or, if higher, at the time of Change in Control), payable in a lump sum within fifteen (15) days of termination; and • Pro-rata target annual bonus for year of termination based on number of days worked by the Executive during the fiscal year, payable in a lump sum within fifteen (15) days of termination; and • Continued health and welfare benefits, or reimbursement thereof, for eighteen (18) months for the Executive and his or her spouse and dependents, subject to earlier termination when the Executive becomes eligible for such benefits from a subsequent employer. | | | | |||||
| Tier 2 (Zuehlke, Cornett, Garcia) | | | • 1.5x base salary plus 1.5x target annual bonus at the time of Qualifying Termination, payable in installments on normal payroll schedule; and • Pro-rata annual bonus for year of termination based on actual Company performance and number of days worked by the Executive during the fiscal year, to be paid at the same time bonuses are paid to active employees; and • Continued health and welfare benefits, or reimbursement thereof, for eighteen (18) months for the Executive and his or her spouse and dependents, subject to earlier termination when the Executive becomes eligible for such benefits from a subsequent employer. | | | • 2x base salary plus 2x target annual bonus at the time of Qualifying Termination (or, if higher, at the time of Change in Control), payable in a lump sum within fifteen (15) days of termination; and • Pro-rata target annual bonus for year of termination based on number of days worked by the Executive during the fiscal year, payable in a lump sum within fifteen (15) days of termination; and • Continued health and welfare benefits, or reimbursement thereof, for eighteen (18) months for the Executive and his or her spouse and dependents, subject to earlier termination when the Executive becomes eligible for such benefits from a subsequent employer. | | | |
| Name | | Severance Payment ($) | | Pro-rated Bonus ($) | | Restricted Stock/RSUs (Unvested)(1) ($) | | Performance Shares(1) ($) | | Performance Restricted Stock Units(1) ($) | | Health & Welfare Benefits(2) ($) | | NQ Deferred Compens- ation (Unvested) ($) | | Retirement (SERP & Restoration)(3) ($) | | Tax Gross-Up ($) | | Total Benefit ($) | | Name | | Severance Payment ($) | | Pro-rated Bonus ($) | | Restricted Stock/RSUs (Unvested)(1) ($) | | Performance Shares(1) ($) | | Performance RSUs(1) ($) | | Health & Welfare Benefits(2) ($) | | Retirement (SERP & Restoration)(3) ($) | | Total Benefit ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| William C. Griffiths | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | George L. Wilson Enhanced Retirement(4) Death/Disability Involuntary w/o Cause(5) Change in Control(6) Termination after Change in Control(7) | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | |||||||||||||||||
| Enhanced Retirement(4) | | | | — | | | | | 680,650 | | | | | — | | | | | 698,655(8) | | | | | 854,301 | | | | | — | | | | | — | | | | | — | | | | | n/a | | | | | 2,233,606 | | | | | | — | | | | | 667,153 | | | | | 2,446,607 | | | | | 3,262,132(8) | | | | | 2,296,116 | | | | | — | | | | | — | | | | | 8,672,008 | | | |||||||||||||||||||
| Death/Disability | | | | — | | | | | 680,650 | | | | | 908,620 | | | | | 698,655(8) | | | | | 854,301 | | | | | — | | | | | — | | | | | — | | | | | n/a | | | | | 3,142,226 | | | | | | 3,196,538 | | | | | 667,153 | | | | | — | | | | | — | | | | | — | | | | | 44,133 | | | | | — | | | | | 3,907,824 | | | |||||||||||||||||||
| Involuntary w/o Cause(5) | | | | 1,000,000 | | | | | 680,650 | | | | | — | | | | | — | | | | | — | | | | | 25,255 | | | | | — | | | | | — | | | | | n/a | | | | | 1,705,905 | | | | | | — | | | | | —(9) | | | | | 2,446,607 | | | | | 3,963,617(9) | | | | | 2,859,678 | | | | | — | | | | | — | | | | | 9,269,902 | | | |||||||||||||||||||
| Change in Control(6) | | | | — | | | | | 588,288 | | | | | 1,199,380 | | | | | 1,619,872 | | | | | 1,121,215 | | | | | — | | | | | — | | | | | — | | | | | n/a | | | | | 4,528,755 | | | | | | 3,995,673 | | | | | 798,269 | | | | | 2,446,607 | | | | | 4,207,672 | | | | | 2,859,678 | | | | | 44,133 | | | | | — | | | | | 14,352,031 | | | |||||||||||||||||||
| Termination after Change in Control(7) | | | | 4,195,831 | | | | | 588,288 | | | | | 1,199,380 | | | | | 1,619,872 | | | | | 1,121,215 | | | | | 52,436 | | | | | — | | | | | — | | | | | n/a | | | | | 8,777,023 | | | Scott M. Zuehlke | | | | ��� | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| George L. Wilson | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Enhanced Retirement(4) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | ||||||||||||||||||
| Enhanced Retirement(4) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | Death/Disability | | | | — | | | | | 227,558 | | | | | 667,623 | | | | | 890,132(8) | | | | | 626,516 | | | | | — | | | | | — | | | | | 2,411,829 | | | ||||||||||||||||||
| Death/Disability | | | | — | | | | | 642,485 | | | | | 491,252 | | | | | 456,055(8) | | | | | 487,897 | | | | | — | | | | | — | | | | | — | | | | | n/a | | | | | 2,077,689 | | | Involuntary w/o Cause(5) | | | | 1,090,920 | | | | | 227,558 | | | | | — | | | | | — | | | | | — | | | | | 42,585 | | | | | — | | | | | 1,361,063 | | | ||||||||||||||||||
| Involuntary w/o Cause(5) | | | | 2,309,154 | | | | | 642,485 | | | | | — | | | | | — | | | | | — | | | | | 38,194 | | | | | — | | | | | — | | | | | n/a | | | | | 2,989,833 | | | Change in Control(6) | | | | — | | | | | 272,280 | | | | | 667,623 | | | | | 1,159,889 | | | | | 781,886 | | | | | — | | | | | — | | | | | 2,881,678 | | | ||||||||||||||||||
| Change in Control(6) | | | | — | | | | | 579,577 | | | | | 864,500 | | | | | 842,136 | | | | | 752,325 | | | | | — | | | | | — | | | | | — | | | | | n/a | | | | | 3,038,538 | | | Termination after Change in Control(7) | | | | 1,454,560 | | | | | 272,280 | | | | | 667,623 | | | | | 1,159,889 | | | | | 781,886 | | | | | 42,585 | | | | | — | | | | | 4,378,823 | | | ||||||||||||||||||
| Termination after Change in Control(7) | | | | 2,886,443 | | | | | 579,577 | | | | | 864,500 | | | | | 842,136 | | | | | 752,325 | | | | | 38,194 | | | | | — | | | | | — | | | | | n/a | | | | | 5,963,175 | | | Paul Cornett | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| Scott M. Zuehlke | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Enhanced Retirement(4) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | ||||||||||||||||||
| Enhanced Retirement(4) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | Death/Disability | | | | — | | | | | 190,460 | | | | | 535,319 | | | | | 713,780(8) | | | | | 502,491 | | | | | — | | | | | — | | | | | 1,942,050 | | | ||||||||||||||||||
| Death/Disability | | | | — | | | | | 216,153 | | | | | 187,241 | | | | | 107,259(8) | | | | | 110,276 | | | | | — | | | | | — | | | | | — | | | | | n/a | | | | | 620,929 | | | Involuntary w/o Cause(5) | | | | 964,114 | | | | | 190,460 | | | | | — | | | | | — | | | | | — | | | | | 42,445 | | | | | — | | | | | 1,197,018 | | | ||||||||||||||||||
| Involuntary w/o Cause(5) | | | | 774,168 | | | | | 216,153 | | | | | — | | | | | — | | | | | — | | | | | 23,034 | | | | | — | | | | | — | | | | | n/a | | | | | 1,013,354 | | | Change in Control(6) | | | | — | | | | | 227,742 | | | | | 535,319 | | | | | 900,107 | | | | | 622,901 | | | | | — | | | | | — | | | | | 2,286,069 | | | ||||||||||||||||||
| Change in Control(6) | | | | — | | | | | 186,112 | | | | | 295,131 | | | | | 181,397 | | | | | 179,503 | | | | | — | | | | | — | | | | | — | | | | | n/a | | | | | 842,144 | | | Termination after Change in Control(7) | | | | 1,285,485 | | | | | 227,742 | | | | | 535,319 | | | | | 900,107 | | | | | 622,901 | | | | | 42,445 | | | | | — | | | | | 3,613,998 | | | ||||||||||||||||||
| Termination after Change in Control(7) | | | | 1,032,224 | | | | | 186,112 | | | | | 295,131 | | | | | 181,397 | | | | | 179,503 | | | | | 23,034 | | | | | — | | | | | — | | | | | n/a | | | | | 1,897,401 | | | Kim Garcia | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| Paul B. Cornett | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Enhanced Retirement(4) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | ||||||||||||||||||
| Enhanced Retirement(4) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | Death/Disability | | | | — | | | | | 155,910 | | | | | 299,385 | | | | | 262,048(8) | | | | | 182,935 | | | | | — | | | | | — | | | | | 900,278 | | | ||||||||||||||||||
| Death/Disability | | | | — | | | | | 184,153 | | | | | 142,885 | | | | | 37,108(8) | | | | | 49,586 | | | | | — | | | | | — | | | | | — | | | | | n/a | | | | | 413,732 | | | Involuntary w/o Cause(5) | | | | 789,643 | | | | | 155,910 | | | | | — | | | | | — | | | | | — | | | | | 17,282 | | | | | — | | | | | 962,835 | | | ||||||||||||||||||
| Involuntary w/o Cause(5) | | | | 703,746 | | | | | 184,153 | | | | | — | | | | | — | | | | | — | | | | | 36,377 | | | | | — | | | | | — | | | | | n/a | | | | | 924,276 | | | Change in Control(6) | | | | — | | | | | 186,429 | | | | | 299,385 | | | | | 262,048 | | | | | 217,078 | | | | | — | | | | | — | | | | | 964,939 | | | ||||||||||||||||||
| Change in Control(6) | | | | — | | | | | 159,164 | | | | | 333,359 | | | | | 94,160 | | | | | 81,966 | | | | | — | | | | | — | | | | | — | | | | | n/a | | | | | 668,649 | | | Termination after Change in Control(7) | | | | 642,089(9) | | | | | 186,429 | | | | | 299,385 | | | | | 262,048 | | | | | 217,078 | | | | | 17,282 | | | | | — | | | | | 1,624,311 | | | ||||||||||||||||||
| Termination after Change in Control(7) | | | | 938,328 | | | | | 159,164 | | | | | 333,359 | | | | | 94,160 | | | | | 81,966 | | | | | 36,377 | | | | | — | | | | | — | | | | | n/a | | | | | 1,643,355 | | | Mark Livingston(10) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| Mark A. Livingston | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Enhanced Retirement(4) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | ||||||||||||||||||
| Enhanced Retirement(4) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | Death/Disability | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | ||||||||||||||||||
| Death/Disability | | | | — | | | | | 143,773 | | | | | 61,309 | | | | | 21,028(8) | | | | | 16,668 | | | | | — | | | | | — | | | | | — | | | | | n/a | | | | | 242,777 | | | Involuntary w/o Cause(5) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | ||||||||||||||||||
| Involuntary w/o Cause(5) | | | | 546,395 | | | | | 143,773 | | | | | — | | | | | — | | | | | — | | | | | 25,457 | | | | | — | | | | | — | | | | | n/a | | | | | 715,625 | | | Change in Control(6) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | ||||||||||||||||||
| Change in Control(6) | | | | — | | | | | 124,264 | | | | | 127,400 | | | | | 20,989 | | | | | 36,253 | | | | | — | | | | | — | | | | | — | | | | | n/a | | | | | 308,906 | | | Termination after Change in Control(7) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | ||||||||||||||||||
| Termination after Change in Control(7) | | | | 562,048(9) | | | | | 124,264 | | | | | 127,400 | | | | | 20,989 | | | | | 36,253 | | | | | 25,457 | | | | | — | | | | | — | | | | | n/a | | | | | 896,411 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Kevin P. Delaney(10) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Enhanced Retirement(4) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Death/Disability | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Involuntary w/o Cause(5) | | | | 562,500 | | | | | — | | | | | — | | | | | 143,816 | | | | | — | | | | | 32,688 | | | | | — | | | | | 2,154,060 | | | | | n/a | | | | | 2,893,064 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Change in Control(6) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Termination after Change in Control(7) | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | |
| Name/Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards(1) ($) | | Option Awards(1) ($) | | Non-Equity Incentive Plan Compensation(2) ($) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings(3) ($) | | All Other Compensation(4) ($) | | Total ($) | | Name/Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards(1) ($) | | Option Awards(1) ($) | | Non-Equity Incentive Plan Compensation(2) ($) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings(3) ($) | | All Other Compensation(4) ($) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| William C. Griffiths Executive Chairman of the Board | | | | | 2020 | | | | | 552,500 | | | | | — | | | | | — | | | | | — | | | | | 680,650 | | | | | 28,880 | | | | | 52,609 | | | | | 1,314,639 | | | George L. Wilson President – Chief Executive Officer | | | | | 2023 | | | | | 800,000 | | | | | — | | | | | 1,429,377 | | | | | — | | | | | 2,548,033 | | | | | (28,900) | | | | | 63,001 | | | | | 4,811,511 | | | ||||||||||||||||
| | | 2019 | | | | | 815,000 | | | | | — | | | | | 1,146,283 | | | | | — | | | | | 838,795 | | | | | 63,473 | | | | | 60,140 | | | | | 2,923,691 | | | | | | 2022 | | | | | 725,000 | | | | | — | | | | | 1,279,882 | | | | | — | | | | | 2,445,333 | | | | | (98,029) | | | | | 54,624 | | | | | 4,406,810 | | | |||||||||||||||||||||
| | | 2018 | | | | | 815,000 | | | | | — | | | | | 1,535,940 | | | | | — | | | | | 1,391,312 | | | | | 104,775 | | | | | 44,725 | | | | | 3,891,752 | | | | | | 2021 | | | | | 675,000 | | | | | — | | | | | 1,023,660 | | | | | — | | | | | 2,362,500 | | | | | (3,822) | | | | | 49,783 | | | | | 4,107,121 | | | |||||||||||||||||||||
| George L. Wilson President – Chief Executive Officer | | | | | 2020 | | | | | 562,000 | | | | | — | | | | | 791,520 | | | | | — | | | | | 642,485 | | | | | 24,734 | | | | | 87,171 | | | | | 2,107,910 | | | Scott M. Zuehlke Senior Vice President – Chief Financial Officer & Treasurer | | | | | 2023 | | | | | 455,000 | | | | | — | | | | | 356,757 | | | | | — | | | | | 764,162 | | | | | (18,945) | | | | | 25,405 | | | | | 1,582,379 | | | ||||||||||||||||
| | | 2019 | | | | | 495,000 | | | | | — | | | | | 481,139 | | | | | — | | | | | 306,025 | | | | | 71,704 | | | | | 39,355 | | | | | 1,393,223 | | | | | | 2022 | | | | | 403,000 | | | | | — | | | | | 368,494 | | | | | — | | | | | 753,073 | | | | | (41,614) | | | | | 23,279 | | | | | 1,506,232 | | | |||||||||||||||||||||
| | | 2018 | | | | | 450,000 | | | | | — | | | | | 644,805 | | | | | — | | | | | 576,157 | | | | | 27,521 | | | | | 74,410 | | | | | 1,772,893 | | | | | | 2021 | | | | | 370,000 | | | | | — | | | | | 291,588 | | | | | — | | | | | 602,444 | | | | | (2,095) | | | | | 21,653 | | | | | 1,283,590 | | | |||||||||||||||||||||
| Kevin P. Delaney Senior Vice President – General Counsel & Secretary | | | | | 2020 | | | | | 1,442 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 60,027 | | | | | 564,403 | | | | | 625,872 | | | Paul B. Cornett Senior Vice President – General Counsel & Secretary | | | | | 2023 | | | | | 415,000 | | | | | — | | | | | 305,832 | | | | | — | | | | | 561,103 | | | | | (279,331) | | | | | 23,763 | | | | | 1,026,367 | | | ||||||||||||||||
| | | 2019 | | | | | 375,000 | | | | | — | | | | | 316,216 | | | | | — | | | | | 71,908 | | | | | 258,580 | | | | | 52,759 | | | | | 1,074,463 | | | | | | 2022 | | | | | 375,000 | | | | | — | | | | | 311,814 | | | | | — | | | | | 596,627 | | | | | (204,105) | | | | | 19,120 | | | | | 1,098,456 | | | |||||||||||||||||||||
| | | 2018 | | | | | 375,000 | | | | | — | | | | | 424,350 | | | | | — | | | | | 384,105 | | | | | 345,543 | | | | | 47,861 | | | | | 1,576,859 | | | | | | 2021 | | | | | 350,000 | | | | | — | | | | | 200,596 | | | | | — | | | | | 349,231 | | | | | 36,353 | | | | | 22,313 | | | | | 958,493 | | | |||||||||||||||||||||
| Scott M. Zuehlke Senior Vice President – Chief Financial Officer & Treasurer | | | | | 2020 | | | | | 330,000 | | | | | — | | | | | 246,380 | | | | | — | | | | | 216,153 | | | | | 11,869 | | | | | 19,015 | | | | | 823,417 | | | Kim Garcia Vice President – Chief Human Resource Officer | | | | | 2023 | | | | | 340,000 | | | | | — | | | | | 183,969 | | | | | — | | | | | 155,910 | | | | | — | | | | | 22,620 | | | | | 702,499 | | | ||||||||||||||||
| | | 2019 | | | | | 250,000 | | | | | — | | | | | 94,047 | | | | | — | | | | | 110,051 | | | | | 27,832 | | | | | 9,490 | | | | | 491,420 | | | | | | 2022 | | | | | 295,000 | | | | | — | | | | | 124,334 | | | | | — | | | | | 264,931 | | | | | — | | | | | 20,918 | | | | | 705,183 | | | |||||||||||||||||||||
| | | 2018 | | | | | 250,000 | | | | | 35,000 | | | | | 125,235 | | | | | — | | | | | 213,391 | | | | | 15,817 | | | | | 9,020 | | | | | 648,463 | | | | | | 2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||
| Paul B. Cornett Senior Vice President – General Counsel & Secretary | | | | | 2020 | | | | | 310,000 | | | | | — | | | | | 180,420 | | | | | — | | | | | 184,153 | | | | | 112,694 | | | | | 20,727 | | | | | 807,994 | | | Mark A. Livingston Vice President – Chief Accounting Officer & Controller | | | | | 2023 | | | | | 176,000 | | | | | — | | | | | 146,292 | | | | | — | | | | | — | | | | | — | | | | | 3,934 | | | | | 326,226 | | | ||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2022 | | | | | 290,000 | | | | | — | | | | | 150,494 | | | | | — | | | | | 407,824 | | | | | — | | | | | 5,486 | | | | | 853,804 | | | |||||||||||||||||||||
| | | 2018 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2021 | | | | | 275,000 | | | | | — | | | | | 124,080 | | | | | — | | | | | 274,327 | | | | | — | | | | | 14,974 | | | | | 688,381 | | | |||||||||||||||||||||
| Mark A. Livingston Vice President – Chief Accounting Officer & Controller | | | | | 2020 | | | | | 240,000 | | | | | — | | | | | 100,880 | | | | | — | | | | | 143,773 | | | | | — | | | | | 16,477 | | | | | 501,130 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2018 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | |
| | | | | | | | Annual Incentive | | Performance Unit Payout | | Performance Share Payout | | Total | | | | | | | | | Annual Incentive | | Performance Unit Payout | | Performance Share Payout | | Total | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | Year | | Total ($) | | Deferred ($) | | Total ($) | | Deferred ($) | | Total ($) | | Deferred ($) | | Total ($) | | Deferred ($) | | Name | | Year | | Total ($) | | Deferred ($) | | Total ($) | | Deferred ($) | | Total ($) | | Deferred ($) | | Total ($) | | Deferred ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Griffiths | | | | | 2020 | | | | | 680,650 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 680,650 | | | | | — | | | Wilson | | | | | 2023 | | | | | 667,153 | | | | | — | | | | | — | | | | | — | | | | | 1,880,880 | | | | | — | | | | | 2,548,033 | | | | | — | | | ||||||||||||||||
| | | 2019 | | | | | 578,426 | | | | | — | | | | | — | | | | | — | | | | | 260,369 | | | | | — | | | | | 838,795 | | | | | — | | | | | | 2022 | | | | | 1,303,269 | | | | | — | | | | | — | | | | | — | | | | | 1,142,064 | | | | | — | | | | | 2,445,333 | | | | | — | | | |||||||||||||||||||||
| | | 2018 | | | | | 1,391,312 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 1,391,312 | | | | | — | | | | | | 2021 | | | | | 1,346,154 | | | | | — | | | | | — | | | | | — | | | | | 1,016,346 | | | | | — | | | | | 2,362,500 | | | | | — | | | |||||||||||||||||||||
| Wilson | | | | | 2020 | | | | | 642,485 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 642,485 | | | | | — | | | Zuehlke | | | | | 2023 | | | | | 227,558 | | | | | — | | | | | — | | | | | — | | | | | 536,604 | | | | | — | | | | | 764,162 | | | | | — | | | ||||||||||||||||
| | | 2019 | | | | | 262,564 | | | | | — | | | | | — | | | | | — | | | | | 43,461 | | | | | — | | | | | 306,025 | | | | | — | | | | | | 2022 | | | | | 398,341 | | | | | — | | | | | — | | | | | — | | | | | 354,732 | | | | | — | | | | | 753,073 | | | | | — | | | |||||||||||||||||||||
| | | 2018 | | | | | 576,157 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 576,157 | | | | | — | | | | | | 2021 | | | | | 406,154 | | | | | — | | | | | — | | | | | — | | | | | 196,290 | | | | | — | | | | | 602,444 | | | | | — | | | |||||||||||||||||||||
| Delaney | | | | | 2020 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Cornett | | | | | 2023 | | | | | 190,459 | | | | | — | | | | | — | | | | | — | | | | | 370,644 | | | | | — | | | | | 561,103 | | | | | — | | | ||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | ��� | | — | | | | | — | | | | | 71,908 | | | | | — | | | | | 71,908 | | | | | — | | | | | | 2022 | | | | | 337,067 | | | | | — | | | | | — | | | | | — | | | | | 259,560 | | | | | — | | | | | 596,627 | | | | | — | | | |||||||||||||||||||||
| | | 2018 | | | | | 384,105 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 384,105 | | | | | — | | | | | | 2021 | | | | | 349,231 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 349,231 | | | | | — | | | |||||||||||||||||||||
| Zuehlke | | | | | 2020 | | | | | 216,153 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 216,153 | | | | | — | | | Garcia | | | | | 2023 | | | | | 155,910 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 155,910 | | | | | — | | | ||||||||||||||||
| | | 2019 | | | | | 88,716 | | | | | — | | | | | — | | | | | — | | | | | 21,335 | | | | | — | | | | | 110,051 | | | | | — | | | | | | 2022 | | | | | 264,931 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 264,931 | | | | | — | | | |||||||||||||||||||||
| | | 2018 | | | | | 213,391 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 213,391 | | | | | — | | | | | | 2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||
| Cornett | | | | | 2020 | | | | | 184,153 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 184,153 | | | | | — | | | Livingston | | | | | 2023 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2022 | | | | | 260,740 | | | | | — | | | | | — | | | | | — | | | | | 147,084 | | | | | — | | | | | 407,824 | | | | | — | | | |||||||||||||||||||||
| | | 2018 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2021 | | | | | 274,327 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 274,327 | | | | | — | | | |||||||||||||||||||||
| Livingston | | | | | 2020 | | | | | 143,773 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 143,773 | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2018 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | |
| | | Year | | Severance* ($) | | Life Insurance ($) | | Financial Planning ($) | | Automobile ($) | | Annual Club Membership ($) | | Housing & Relocation ($) | | 401K Match ($) | | Health Assess- ment ($) | | Unvested Restricted Stock and RSU Dividends** ($) | | Cell Phone Stipend ($) | | Total ($) | | | | Year | | Life Insurance ($) | | Financial Planning ($) | | Automobile ($) | | Housing & Relocation ($) | | 401K Match ($) | | Health Assess-ment ($) | | Unvested Restricted Stock and RSU Dividends* ($) | | Cell Phone Stipend ($) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Griffiths | | | | | 2020 | | | | | — | | | | | 13,851 | | | | | 1,811 | | | | | — | | | | | — | | | | | — | | | | | 13,954 | | | | | — | | | | | 22,993 | | | | | — | | | | | 52,609 | | | Wilson | | | | | 2023 | | | | | 5,989 | | | | | — | | | | | 12,000 | | | | | — | | | | | 16,500 | | | | | — | | | | | 28,512 | | | | | — | | | | | 63,001 | | | ||||||||||||||||||||
| | | 2019 | | | | | — | | | | | 17,877 | | | | | 1,750 | | | | | — | | | | | — | | | | | — | | | | | 6,992 | | | | | — | | | | | 33,521 | | | | | — | | | | | 60,140 | | | | | | 2022 | | | | | 3,438 | | | | | — | | | | | 12,000 | | | | | — | | | | | 15,250 | | | | | — | | | | | 23,936 | | | | | — | | | | | 54,624 | | | |||||||||||||||||||||||||
| | | 2018 | | | | | — | | | | | 17,877 | | | | | 1,775 | | | | | — | | | | | — | | | | | — | | | | | 6,742 | | | | | — | | | | | 18,331 | | | | | — | | | | | 44,725 | | | | | | 2021 | | | | | 3,187 | | | | | — | | | | | 12,000 | | | | | — | | | | | 14,500 | | | | | — | | | | | 20,096 | | | | | — | | | | | 49,783 | | | |||||||||||||||||||||||||
| Wilson | | | | | 2020 | | | | | — | | | | | 2,883 | | | | | — | | | | | 12,000 | | | | | — | | | | | 42,838 | | | | | 14,250 | | | | | — | | | | | 15,200 | | | | | — | | | | | 87,171 | | | Zuehlke | | | | | 2023 | | | | | 1,129 | | | | | — | | | | | — | | | | | — | | | | | 16,500 | | | | | — | | | | | 7,776 | | | | | — | | | | | 25,405 | | | ||||||||||||||||||||
| | | 2019 | | | | | — | | | | | 2,415 | | | | | — | | | | | 12,000 | | | | | — | | | | | 4,500 | | | | | 7,666 | | | | | 2,150 | | | | | 10,624 | | | | | — | | | | | 39,355 | | | | | | 2022 | | | | | 989 | | | | | — | | | | | — | | | | | — | | | | | 15,250 | | | | | — | | | | | 7,040 | | | | | — | | | | | 23,279 | | | |||||||||||||||||||||||||
| | | 2018 | | | | | — | | | | | 2,190 | | | | | — | | | | | 12,000 | | | | | — | | | | | 49,500 | | | | | 6,620 | | | | | — | | | | | 4,100 | | | | | — | | | | | 74,410 | | | | | | 2021 | | | | | 822 | | | | | — | | | | | — | | | | | — | | | | | 15,423 | | | | | — | | | | | 5,408 | | | | | — | | | | | 21,653 | | | |||||||||||||||||||||||||
| Delaney | | | | | 2020 | | | | | 564,316 | | | | | 10 | | | | | — | | �� | | | | 55 | | | | | 22 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 564,403 | | | Cornett | | | | | 2023 | | | | | 1,023 | | | | | — | | | | | — | | | | | — | | | | | 16,500 | | | | | — | | | | | 6,240 | | | | | — | | | | | 23,763 | | | |||||||||||||||||||
| | | 2019 | | | | | — | | | | | 7,570 | | | | | 7,500 | | | | | 14,400 | | | | | 5,903 | | | | | — | | | | | 7,000 | | | | | 1,650 | | | | | 8,736 | | | | | — | | | | | 52,759 | | | | | | 2022 | | | | | 871 | | | | | — | | | | | — | | | | | — | | | | | 10,404 | | | | | — | | | | | 7,845 | | | | | — | | | | | 19,120 | | | |||||||||||||||||||||||||
| | | 2018 | | | | | — | | | | | 7,570 | | | | | 7,500 | | | | | 14,400 | | | | | 6,776 | | | | | — | | | | | 6,875 | | | | | — | | | | | 4,740 | | | | | — | | | | | 47,861 | | | | | | 2021 | | | | | 82 | | | | | — | | | | | — | | | | | — | | | | | 15,250 | | | | | — | | | | | 6,981 | | | | | — | | | | | 22,313 | | | |||||||||||||||||||||||||
| Zuehlke | | | | | 2020 | | | | | — | | | | | 499 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 13,327 | | | | | — | | | | | 5,189 | | | | | — | | | | | 19,015 | | | Garcia | | | | | 2023 | | | | | 779 | | | | | — | | | | | — | | | | | — | | | | | 17,153 | | | | | — | | | | | 3,488 | | | | | 1,200 | | | | | 22,620 | | | ||||||||||||||||||||
| | | 2019 | | | | | — | | | | | 390 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 5,769 | | | | | — | | | | | 3,331 | | | | | — | | | | | 9,490 | | | | | | 2022 | | | | | 465 | | | | | — | | | | | — | | | | | — | | | | | 15,989 | | | | | — | | | | | 3,264 | | | | | 1,200 | | | | | 20,918 | | | |||||||||||||||||||||||||
| | | 2018 | | | | | — | | | | | 390 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 6,750 | | | | | — | | | | | 1,880 | | | | | — | | | | | 9,020 | | | | | | 2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||||
| Cornett | | | | | 2020 | | | | | — | | | | | 397 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 14,469 | | | | | — | | | | | 5,861 | | | | | — | | | | | 20,727 | | | Livingston | | | | | 2023 | | | | | 1,609 | | | | | — | | | | | — | | | | | — | | | | | 363 | | | | | — | | | | | 1,616 | | | | | 346 | | | | | 3,934 | | | ||||||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2022 | | | | | 1,974 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 2,912 | | | | | 600 | | | | | 5,486 | | | |||||||||||||||||||||||||
| | | 2018 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2021 | | | | | 1,780 | | | | | — | | | | | — | | | | | — | | | | | 9,385 | | | | | — | | | | | 3,232 | | | | | 577 | | | | | 14,974 | | | |||||||||||||||||||||||||
| Livingston | | | | | 2020 | | | | | — | | | | | 1,617 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 11,997 | | | | | — | | | | | 2,240 | | | | | 623 | | | | | 16,477 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2018 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | |
| Year (a) | | | Summary Compensation Table Total for PEO(1) ($) (b) | | | Compensation Actually Paid to PEO (1)(2)(3) ($) (c) | | | Average Summary Compensation Table Total for Non-PEO NEOs(1) ($) (d) | | | Average Compensation Actually Paid to Non-PEO NEOs(1)(2)(3) ($) (e) | | | Value of Initial Fixed $100 Investment based on:(4) | | | | | | | | | | | | | | |||||||||||||||||||||
| TSR ($) (f) | | | Peer Group TSR ($) (g) | | | Net Income ($ Thousands) (h) | | | Return on Net Assets(5) (i) | | |||||||||||||||||||||||||||||||||||||||
| 2023 | | | | | 4,811,511 | | | | | | 8,931,902 | | | | | | 909,368 | | | | | | 1,399,588 | | | | | | 153.69 | | | | | | 148.27 | | | | | | 82,500 | | | | | | 18.5% | | |
| 2022 | | | | | 4,406,810 | | | | | | 6,485,749 | | | | | | 1,040,919 | | | | | | 1,444,718 | | | | | | 125.19 | | | | | | 132.53 | | | | | | 88,336 | | | | | | 20.8% | | |
| 2021 | | | | | 4,107,121 | | | | | | 5,903,105 | | | | | | 1,726,486 | | | | | | 2,428,824 | | | | | | 115.35 | | | | | | 143.76 | | | | | | 56,980 | | | | | | 15.5% | | |
| 2021 | | | 2022 | | | 2023 | |
| William C. Griffiths | | | Scott M. Zuehlke | | | Scott M. Zuehlke | |
| Scott M. Zuehlke | | | Paul B. Cornett | | | Paul B. Cornett | |
| Paul B. Cornett | | | Kimberley N. Garcia | | | Kimberley N. Garcia | |
| Mark A. Livingston | | | Mark A. Livingston | | | Mark A. Livingston | |
| Year | | | Summary Compensation Table Total for PEO ($) | | | Exclusion of Change in Pension Value for PEO ($) | | | Exclusion of Stock Awards and Option Awards for PEO ($) | | | Inclusion of Pension Service Cost for PEO ($) | | | Inclusion of Equity Values for PEO ($) | | | Compensation Actually Paid to PEO ($) | | ||||||||||||||||||
| 2023 | | | | | 4,811,511 | | | | | | 28,900 | | | | | | (1,429,377) | | | | | | — | | | | | | 5,520,868 | | | | | | 8,931,902 | | |
| 2022 | | | | | 4,406,810 | | | | | | 98,029 | | | | | | (1,279,882) | | | | | | — | | | | | | 3,260,792 | | | | | | 6,485,749 | | |
| 2021 | | | | | 4,107,121 | | | | | | 3,822 | | | | | | (1,023,660) | | | | | | — | | | | | | 2,815,822 | | | | | | 5,903,105 | | |
| Year | | | Average Summary Compensation Table Total for Non-PEO NEOs ($) | | | Average Exclusion of Change in Pension Value for Non-PEO NEOs ($) | | | Average Exclusion of Stock Awards and Option Awards for Non-PEO NEOs ($) | | | Average Inclusion of Pension Service Cost for Non-PEO NEOs ($) | | | Average Inclusion of Equity Values for Non-PEO NEOs ($) | | | Average Compensation Actually Paid to Non-PEO NEOs ($) | | ||||||||||||||||||
| 2023 | | | | | 909,368 | | | | | | 74,569 | | | | | | (248,213) | | | | | | — | | | | | | 663,864 | | | | | | 1,399,588 | | |
| 2022 | | | | | 1,040,919 | | | | | | 61,430 | | | | | | (238,784) | | | | | | — | | | | | | 581,153 | | | | | | 1,444,718 | | |
| 2021 | | | | | 1,726,486 | | | | | | (10,271) | | | | | | (154,066) | | | | | | — | | | | | | 866,675 | | | | | | 2,428,824 | | |
| Year | | | Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for PEO ($) | | | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for PEO ($) | | | Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for PEO ($) | | | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for PEO ($) | | | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for PEO ($) | | | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for PEO ($) | | | Total – Inclusion of Equity Values for PEO ($) | | |||||||||||||||||||||
| 2023 | | | | | 3,151,350 | | | | | | 2,214,609 | | | | | | — | | | | | | 154,909 | | | | | | — | | | | | | — | | | | | | 5,520,868 | | |
| 2022 | | | | | 2,217,991 | | | | | | 894,724 | | | | | | — | | | | | | 148,077 | | | | | | — | | | | | | — | | | | | | 3,260,792 | | |
| 2021 | | | | | 1,754,597 | | | | | | 1,000,671 | | | | | | — | | | | | | 60,554 | | | | | | — | | | | | | — | | | | | | 2,815,822 | | |
| Year | | | Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEOs ($) | | | Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs ($) | | | Average Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for Non-PEO NEOs ($) | | | Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs ($) | | | Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Non-PEO NEOs ($) | | | Average Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included for Non-PEO NEOs ($) | | | Total – Average Inclusion of Equity Values for Non-PEO NEOs ($) | | |||||||||||||||||||||
| 2023 | | | | | 466,268 | | | | | | 294,252 | | | | | | — | | | | | | 27,104 | | | | | | (123,760) | | | | | | — | | | | | | 663,864 | | |
| 2022 | | | | | 413,600 | | | | | | 152,753 | | | | | | — | | | | | | 14,800 | | | | | | — | | | | | | — | | | | | | 581,153 | | |
| 2021 | | | | | 264,242 | | | | | | 561,221 | | | | | | — | | | | | | 41,212 | | | | | | — | | | | | | — | | | | | | 866,675 | | |
| Absolute Total Shareholder Return | |
| EBITDA | |
| EBITDA as a % of Sales | |
| Return on Net Assets | |
| Sales | |
| Working Capital | |
| | | | Grant Date | | Non- Equity Incentive Plan Awards (#) | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units(6) (#) | | All Other Option Awards: Number of Securities Under-lying Options(7) (#) | | Exercise or Base Price of Option Awards(7) ($/Sh) | | Grant Date Fair Value of Stock Awards(8) ($) | | Grant Date Fair Value of Option Awards(7) ($) | | | | | | | | | | Non- Equity Incentive Plan Awards (#) | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units(4) (#) | | All Other Option Awards: Number of Securities Under-lying Options(5) (#) | | Exercise or Base Price of Option Awards(5) ($/Sh) | | Grant Date Fair Value of Stock Awards(6) ($) | | Grant Date Fair Value of Option Awards(5) ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | Threshold ($) | | Target ($) | | Maximum ($) | | Name | | Grant Date | | Threshold ($) | | Target ($) | | Maximum ($) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Griffiths | | | 2020 | | | | — | | | | | 250,000(3) | | | | | 500,000(3) | | | | | 1,000,000(3) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Wilson | | | | | 2023 | | | | | — | | | | | 400,000(2) | | | | | 800,000(2) | | | | | 1,600,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||||
| 12/5/2019 | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 12/7/2022 | | | | | 45,500(1) | | | | | 801,596(3) | | | | | 1,068,795(3) | | | | | 2,137,590(3) | | | | | 64,500 | | | | | — | | | | | — | | | | | 1,429,377 | | | | | — | | | |||||||||||||||||||||||
| Wilson | | | 2020 | | | | — | | | | | 287,500(3) | | | | | 575,000(3) | | | | | 1,150,000(3) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Zuehlke | | | | | 2023 | | | | | — | | | | | 125,125(2) | | | | | 250,250(2) | | | | | 500,500(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||||
| 12/5/2019 | | | | 26,400(1) | | | | | 384,120(4) | | | | | 512,160(4) | | | | | 1,024,320(4) | | | | | 40,800 | | | | | — | | | | | — | | | | | 791,520 | | | | | — | | | | | | 12/7/2022 | | | | | 11,400(1) | | | | | 200,840(3) | | | | | 267,786(3) | | | | | 535,572(3) | | | | | 16,100 | | | | | — | | | | | — | | | | | 356,757 | | | | | — | | | |||||||||||||||||||||||
| Zuehlke | | | 2020 | | | | — | | | | | 90,750(3) | | | | | 181,500(3) | | | | | 363,000(3) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Cornett | | | | | 2023 | | | | | — | | | | | 103,750(2) | | | | | 207,500(2) | | | | | 415,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||||
| 12/5/2019 | | | | 8,200(1) | | | | | 119,310(4) | | | | | 159,080(4) | | | | | 318,160(4) | | | | | 12,700 | | | | | — | | | | | — | | | | | 246,380 | | | | | — | | | | | | 12/7/2022 | | | | | 9,700(1) | | | | | 170,890(3) | | | | | 227,853(3) | | | | | 455,706(3) | | | | | 13,800 | | | | | — | | | | | — | | | | | 305,832 | | | | | — | | | |||||||||||||||||||||||
| Cornett | | | 2020 | | | | — | | | | | 77,500(3) | | | | | 155,000(3) | | | | | 310,000(3) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Garcia | | | | | 2023 | | | | | — | | | | | 85,000(2) | | | | | 170,000(2) | | | | | 340,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||||
| 12/5/2019 | | | | 6,000(1) | | | | | 87,300(4) | | | | | 116,400(4) | | | | | 232,800(4) | | | | | 9,300 | | | | | — | | | | | — | | | | | 180,420 | | | | | — | | | | | | 12/7/2022 | | | | | 5,800(1) | | | | | 102,182(3) | | | | | 136,242(3) | | | | | 272,484(3) | | | | | 8,300 | | | | | — | | | | | — | | | | | 183,969 | | | | | — | | | |||||||||||||||||||||||
| 1/1/2020 | | | | 7,816(2) | | | | | — | | | | | 133,497(5) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Livingston | | | | | 2023 | | | | | — | | | | | 44,000(2) | | | | | 88,000(2) | | | | | 176,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||
| Livingston | | | 2020 | | | | — | | | | | 60,000(3) | | | | | 120,000(3) | | | | | 240,000(3) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 12/7/2022 | | | | | 4,600(1) | | | | | 81,041(3) | | | | | 108,054(3) | | | | | 216,108(3) | | | | | — | | | | | — | | | | | — | | | | | 146,292 | | | | | — | | | ||||||||||||||||||||
| 12/5/2019 | | | | 3,400(1) | | | | | 49,470(4) | | | | | 65,960(4) | | | | | 131,920(4) | | | | | 5,200 | | | | | — | | | | | — | | | | | 100,880 | | | | | — | | |
| | | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||
| Name | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of Shares or Units of Stock That Have Not Vested(13) (#) | | | Market Value of Shares or Units of Stock That Have Not Vested(13) ($) | | ||||||||||||||||||
| Griffiths | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 84,100 | | | | | | 1,530,620 | | |
| | | | | | 102,100 | | | | | | —(2) | | | | | | 19.45 | | | | | | 11/30/2026 | | | | | | 74,200 | | | | | | 1,350,440 | | |
| | | | | | 85,700 | | | | | | —(3) | | | | | | 19.31 | | | | | | 12/2/2025 | | | | | | — | | | | | | — | | |
| | | | | | 48,300 | | | | | | —(4) | | | | | | 20.28 | | | | | | 12/3/2024 | | | | | | — | | | | | | — | | |
| | | | | | 55,800 | | | | | | —(5) | | | | | | 17.63 | | | | | | 12/5/2023 | | | | | | — | | | | | | — | | |
| | | | | | 175,500 | | | | | | —(6) | | | | | | 16.72 | | | | | | 7/9/2023 | | | | | | — | | | | | | — | | |
| | | | | | 5,987 | | | | | | —(7) | | | | | | 19.77 | | | | | | 10/31/2022 | | | | | | — | | | | | | — | | |
| | | | | | 8,132 | | | | | | —(7) | | | | | | 14.75 | | | | | | 10/31/2021 | | | | | | — | | | | | | — | | |
| Wilson | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 40,800 | | | | | | 742,560 | | |
| | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 35,300 | | | | | | 642,460 | | |
| | | | | | 17,100 | | | | | | —(2) | | | | | | 19.45 | | | | | | 11/30/2026 | | | | | | 31,150 | | | | | | 566,930 | | |
| | | | | | 14,400 | | | | | | —(3) | | | | | | 19.31 | | | | | | 12/2/2025 | | | | | | — | | | | | | — | | |
| | | | | | 6,300 | | | | | | —(4) | | | | | | 20.28 | | | | | | 12/3/2024 | | | | | | — | | | | | | — | | |
| | | | | | 7,300 | | | | | | —(5) | | | | | | 17.63 | | | | | | 12/5/2023 | | | | | | — | | | | | | — | | |
| | | | | | 14,900 | | | | | | —(8) | | | | | | 21.11 | | | | | | 12/5/2022 | | | | | | — | | | | | | — | | |
| | | | | | 17,600 | | | | | | —(9) | | | | | | 15.08 | | | | | | 11/30/2021 | | | | | | — | | | | | | — | | |
| | | | | | 15,000 | | | | | | —(10) | | | | | | 20.27 | | | | | | 4/1/2021 | | | | | | — | | | | | | — | | |
| Delaney | | | | | — | | | | | | —(11) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Zuehlke | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 12,700 | | | | | | 231,140 | | |
| | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 6,900 | | | | | | 125,580 | | |
| | | | | | 8,300 | | | | | | —(2) | | | | | | 19.45 | | | | | | 11/30/2026 | | | | | | 6,050 | | | | | | 110,110 | | |
| | | | | | 12,500 | | | | | | —(12) | | | | | | 17.46 | | | | | | 1/25/2026 | | | | | | — | | | | | | — | | |
| Cornett | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 9,300 | | | | | | 169,260 | | |
| | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 4,500 | | | | | | 81,900 | | |
| | | | | | 5,500 | | | | | | —(2) | | | | | | 19.45 | | | | | | 11/30/2026 | | | | | | 4,600 | | | | | | 83,720 | | |
| | | | | | 5,500 | | | | | | —(3) | | | | | | 19.31 | | | | | | 12/2/2025 | | | | | | — | | | | | | — | | |
| | | | | | 1,800 | | | | | | —(4) | | | | | | 20.28 | | | | | | 12/3/2024 | | | | | | — | | | | | | — | | |
| | | | | | 2,000 | | | | | | —(5) | | | | | | 17.63 | | | | | | 12/5/2023 | | | | | | — | | | | | | — | | |
| | | | | | 1,500 | | | | | | —(8) | | | | | | 21.11 | | | | | | 12/5/2022 | | | | | | — | | | | | | — | | |
| | | | | | 1,500 | | | | | | —(9) | | | | | | 15.08 | | | | | | 11/30/2021 | | | | | | — | | | | | | — | | |
| Livingston | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 5,200 | | | | | | 94,640 | | |
| | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 4,500 | | | | | | 81,900 | | |
| | | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||
| Name | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of Shares or Units of Stock That Have Not Vested(5) (#) | | | Market Value of Shares or Units of Stock That Have Not Vested(5) ($) | | ||||||||||||||||||
| Wilson | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 64,500 | | | | | | 1,731,825 | | |
| | | 17,100 | | | | | | —(2) | | | | | | 19.45 | | | | | | 11/30/2026 | | | | | | 58,700 | | | | | | 1,576,095 | | | |||
| | | 14,400 | | | | | | —(3) | | | | | | 19.31 | | | | | | 12/2/2025 | | | | | | 49,500 | | | | | | 1,329,075 | | | |||
| | | 6,300 | | | | | | —(4) | | | | | | 20.28 | | | | | | 12/3/2024 | | | | | | — | | | | | | — | | | |||
| Zuehlke | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 16,100 | | | | | | 432,285 | | |
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 16,900 | | | | | | 453,765 | | | |||
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 14,100 | | | | | | 378,585 | | | |||
| Cornett | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 13,800 | | | | | | 370,530 | | |
| | | 5,500 | | | | | | —(2) | | | | | | 19.45 | | | | | | 11/30/2026 | | | | | | 14,300 | | | | | | 383,955 | | | |||
| | | 5,500 | | | | | | —(3) | | | | | | 19.31 | | | | | | 12/2/2025 | | | | | | 9,700 | | | | | | 260,445 | | | |||
| | | 1,800 | | | | | | —(4) | | | | | | 20.28 | | | | | | 12/3/2024 | | | | | | — | | | | | | — | | | |||
| Garcia | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | 8,300 | | | | | | 222,855 | | |
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 5,700 | | | | | | 153,045 | | | |||
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,600 | | | | | | 96,660 | | | |||
| Livingston | | | | | — | | | | | | —(1) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | |||
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | | | Number of Shares or Units of Stock That Have Not Vested | | | Market Value of Shares or Units of Stock That Have Not Vested(17) ($) | | ||||||||||||||||||||||||
| | | | Grant Date | | | Restricted Stock Awards(14) (#) | | | Performance Shares(15) (#) | | | Performance Restricted Stock Units(16) (#) | | | Total Shares (#) | | ||||||||||||||||||
| Griffiths | | | 12/5/2019 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| 12/5/2018 | | | | | 41,700 | | | | | | — | | | | | | 42,400 | | | | | | 84,100 | | | | | | 1,530,620 | | | |||
| 12/7/2017 | | | | | 24,200 | | | | | | 24,200 | | | | | | 25,800 | | | | | | 74,200 | | | | | | 1,350,440 | | | |||
| Wilson | | | 12/5/2019 | | | | | 19,800 | | | | | | — | | | | | | 21,000 | | | | | | 40,800 | | | | | | 742,560 | | |
| 12/5/2018 | | | | | 17,500 | | | | | | — | | | | | | 17,800 | | | | | | 35,300 | | | | | | 642,460 | | | |||
| 12/7/2017 | | | | | 10,200 | | | | | | 10,150 | | | | | | 10,800 | | | | | | 31,150 | | | | | | 566,930 | | | |||
| Zuehlke | | | 12/5/2019 | | | | | 6,200 | | | | | | — | | | | | | 6,500 | | | | | | 12,700 | | | | | | 231,140 | | |
| 12/5/2018 | | | | | 3,400 | | | | | | — | | | | | | 3,500 | | | | | | 6,900 | | | | | | 125,580 | | | |||
| 12/7/2017 | | | | | 2,000 | | | | | | 1,950 | | | | | | 2,100 | | | | | | 6,050 | | | | | | 110,110 | | | |||
| Cornett | | | 12/5/2019 | | | | | 4,500 | | | | | | — | | | | | | 4,800 | | | | | | 9,300 | | | | | | 169,260 | | |
| 12/5/2018 | | | | | 4,500 | | | | | | — | | | | | | — | | | | | | 4,500 | | | | | | 81,900 | | | |||
| 12/7/2017 | | | | | 1,500 | | | | | | 1,500 | | | | | | 1,600 | | | | | | 4,600 | | | | | | 83,720 | | | |||
| Livingston | | | 12/5/2019 | | | | | 2,500 | | | | | | — | | | | | | 2,700 | | | | | | 5,200 | | | | | | 94,640 | | |
| 02/4/2019 | | | | | 4,500 | | | | | | — | | | | | | — | | | | | | 4,500 | | | | | | 81,900 | | |
| | | | | | | | | | Number of Shares or Units of Stock That Have Not Vested | | | Market Value of Shares or Units of Stock That Have Not Vested(8) ($) | | ||||||||||||||||||
| | | | Grant Date | | | Restricted Stock Awards(6) (#) | | | Performance Restricted Stock Units(7) (#) | | | Total Shares (#) | | ||||||||||||||||||
| Wilson | | | | | 12/7/2022 | | | | | | 34,100 | | | | | | 30,400 | | | | | | 64,500 | | | | | | 1,731,825 | | |
| | | 12/9/2021 | | | | | | 29,500 | | | | | | 29,200 | | | | | | 58,700 | | | | | | 1,576,095 | | | |||
| | | 12/2/2020 | | | | | | 25,500 | | | | | | 24,000 | | | | | | 49,500 | | | | | | 1,329,075 | | | |||
| Zuehlke | | | | | 12/7/2022 | | | | | | 8,500 | | | | | | 7,600 | | | | | | 16,100 | | | | | | 432,285 | | |
| | | 12/9/2021 | | | | | | 8,500 | | | | | | 8,400 | | | | | | 16,900 | | | | | | 453,765 | | | |||
| | | 12/2/2020 | | | | | | 7,300 | | | | | | 6,800 | | | | | | 14,100 | | | | | | 378,585 | | | |||
| Cornett | | | | | 12/7/2022 | | | | | | 7,300 | | | | | | 6,500 | | | | | | 13,800 | | | | | | 370,530 | | |
| | | 12/9/2021 | | | | | | 7,200 | | | | | | 7,100 | | | | | | 14,300 | | | | | | 383,955 | | | |||
| | | 12/2/2020 | | | | | | 5,000 | | | | | | 4,700 | | | | | | 9,700 | | | | | | 260,445 | | | |||
| Garcia | | | | | 12/7/2022 | | | | | | 4,400 | | | | | | 3,900 | | | | | | 8,300 | | | | | | 222,855 | | |
| | | 12/9/2021 | | | | | | 2,900 | | | | | | 2,800 | | | | | | 5,700 | | | | | | 153,045 | | | |||
| | | 12/2/2020 | | | | | | 3,600 | | | | | | — | | | | | | 3,600 | | | | | | 96,660 | | | |||
| Livingston | | | | | 12/7/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 12/9/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | |||
| | | 12/2/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | Option Awards | | Stock Awards | | | | Option Awards | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||
| Name | | Number of Shares Acquired on Exercise (#) | | Value Realized on Exercise(1) ($) | | Number of Shares Acquired on Vesting (#) | | Value Realized on Vesting(2) ($) | | Name | | Number of Shares Acquired on Exercise (#) | | Value Realized on Exercise(1) ($) | | Number of Shares Acquired on Vesting (#) | | Value Realized on Vesting(2) ($) | | ||||||||||||||||||||||||||||||||
| Griffiths | | | | 6,390 | | | | | 5,085 | | | | | 32,900 | | | | | 640,234 | | | Wilson | | | | — | | | | | — | | | | | 19,800 | | | | | 472,032 | | | ||||||||
| Wilson | | | | — | | | | | — | | | | | 5,500 | | | | | 107,030 | | | Zuehlke | | | | — | | | | | — | | | | | 6,200 | | | | | 147,808 | | | ||||||||
| Delaney | | | | 171,866 | | | | | 441,865 | | | | | — | | | | | — | | | Cornett | | | | 2,000 | | | | | 14,740 | | | | | 4,500 | | | | | 107,280 | | | ||||||||
| Zuehlke | | | | — | | | | | — | | | | | 2,700 | | | | | 52,542 | | | Garcia | | | | — | | | | | — | | | | | 3,700 | | | | | 74,037 | | | ||||||||
| Cornett | | | | 3,000 | | | | | 9,180 | | | | | 1,800 | | | | | 35,028 | | | Livingston | | | | — | | | | | — | | | | | 2,500 | | | | | 59,600 | | | ||||||||
| Livingston | | | | — | | | | | — | | | | | — | | | | | — | | |
| NEOs Eligible | | | Time Frame | | | Plan Name | | | Earnings | | | Formula | | | Form of Payment | | ||
| | | For salaried and non-union employees (12 month service commitment added in 2018). Frozen on January 1, 2020 and terminated during fiscal 2023. | | | Pension Plan (Cash balance) | | | Salary and Bonus (Earnings up to the tax limit are included in the Plan; benefits on the excess are accrued under the Restoration Plan) | | | 4% of Earnings + Interest at the 30-year Treasury security in effect on the first day of the fifth month of the year(2) | | | Annuity or lump sum | | |||
| Paul Cornett | | | For salaried and non-union employees who began participating at Quanex Corporation. Frozen on January 1, 2020 and terminated during fiscal 2023. | | | Pension Plan (Traditional) | | | Highest 5-calendar year monthly average of salary and bonus (Earnings up to the tax limit are included in the Plan; benefits on the excess are accrued under the Restoration Plan) | | | Greater of: (i) 1% of Pension Earnings (capped at Social Security covered compensation) plus 1.5% of Pension Earnings in excess of Social Security covered compensation x years of service (up to January 1, 2020) or (ii) $9.00 x years in service less monthly accrued benefits under other qualified defined benefit plans that consider years of service(2) | | | Monthly single life annuity | | ||
| | | |||||||||||||||||
Highly compensated individuals designated by a Committee of the Board who participate in the Pension Terminated during fiscal 2023. | | | Restoration Plan | | | Earnings as defined under Pension Plan (without caps) | | | Benefit under Pension plan without cap less benefit under Pension Plan with cap (3) | | | Lump Sum | |
Name | | Plan Name | | Number of Years Credited Service (#) | | Present Value of Accumulated Benefit ($) | | Payments During Fiscal Year ($) | | ||||||||||||||||||||||||||||||||||||
George L. Wilson | | Restoration Plan | | | | 11.33 | | | | | 133,998 | | | | | — | | | |||||||||||||||||||||||||||
| Name | | Plan Name | | Number of Years Credited Service (#) | | Present Value of Accumulated Benefit ($) | | Payments During Last Fiscal Year ($) | | | Pension Plan | | | | 11.33 | | | | | — | | | | | 108,298 | | | |||||||||||||||||
Scott M. Zuehlke | | Restoration Plan | | | | 3.94 | | | | | 14,955 | | | | | — | | | |||||||||||||||||||||||||||
| William C. Griffiths | | Restoration Plan | | | | 6.49 | | | | | 382,637 | | | | | — | | | | Pension Plan | | | | 3.94 | | | | | — | | | | | 48,614 | | | ||||||||
Paul B. Cornett | | Restoration Plan | | | | 14.36 | | | | | 60,778 | | | | | — | | | |||||||||||||||||||||||||||
| | | Pension Plan | | | | 6.49 | | | | | 76,637 | | | | | — | | | | Pension Plan | | | | 14.36 | | | | | — | | | | | 244,395 | | | ||||||||
| George L. Wilson | | Restoration Plan | | | | 11.33 | | | | | 145,194 | | | | | — | | | ||||||||||||||||||||||||||
| | | Pension Plan | | | | 11.33 | | | | | 119,555 | | | | | — | | | ||||||||||||||||||||||||||
| Kevin P. Delaney | | SERP | | | | 16.28 | | | | | —(1) | | | | | 2,154,060 | | | ||||||||||||||||||||||||||
| | | Pension Plan | | | | 16.28 | | | | | 228,896 | | | | | 382,732 | | | ||||||||||||||||||||||||||
| Scott M. Zuehlke | | Restoration Plan | | | | 3.94 | | | | | 20,810 | | | | | — | | | ||||||||||||||||||||||||||
| | | Pension Plan | | | | 3.94 | | | | | 75,016 | | | | | — | | | ||||||||||||||||||||||||||
| Paul B. Cornett | | Restoration Plan | | | | 14.36 | | | | | 108,561 | | | | | — | | | ||||||||||||||||||||||||||
| | | Pension Plan | | | | 14.36 | | | | | 399,300 | | | | | — | | | ||||||||||||||||||||||||||
| Mark A. Livingston(2) | | — | | | | — | | | | | — | | | | | | | | ||||||||||||||||||||||||||
Kim Garcia(1) | | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||||||
Mark Livingston(1) | | | | | | — | | | | | — | | | | | — | | |
| Name | | NEO Contributions in the last fiscal year ($) | | Company Contributions in the last fiscal year ($) | | Aggregate Earnings in last fiscal year ($) | | Aggregate withdrawals/ distributions ($) | | Aggregate balance and last fiscal year end ($) | | Name | | NEO Contributions in the last fiscal year ($) | | Company Contributions in the last fiscal year ($) | | Aggregate Earnings in last fiscal year ($) | | Aggregate withdrawals/ distributions ($) | | Aggregate balance at last fiscal year end ($) | | ||||||||||||||||||||||||||||||||||||||||
| Wilson | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | | $ | — | | | Wilson | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | | $ | — | | | ||||||||||
| Griffiths | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | | $ | — | | | Zuehlke | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | | $ | — | | | ||||||||||
| Zuehlke | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | | $ | — | | | Cornett | | | | — | | | | | — | | | | $ | 12,254 | | | | $ | — | | | | $ | 66,150 | | | ||||||||||
| Cornett | | | | — | | | | | — | | | | $ | 746 | | | | $ | — | | | | $ | 43,026 | | | Garcia | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | | $ | — | | | ||||||||||
| Livingston | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | | $ | — | | | Livingston | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | | $ | — | | |
| | | Common Stock Owned of Record | | Restricted Stock Units | | Phantom Common Stock Credited Under DC Plan | | Common Stock Underlying Exercisable Options(1) | | Total | | Percent | | | | Common Stock Owned of Record | | Restricted Stock Units | | Phantom Common Stock Credited Under DC Plan | | Common Stock Underlying Exercisable Options(1) | | Total | | Percent | | ||||||||||||||||||||||||||||||||||||||||||||||||
| William C. Griffiths | | | | 233,636 | | | | | 5,954 | | | | | — | | | | | 292,400 | | | | | 531,990 | | | | | 1.60% | | | William C. Griffiths | | | | 52,619 | | | | | 14,537 | | | | | — | | | | | — | | | | | 67,156 | | | | | * | | | ||||||||||||
| George L. Wilson | | | | 101,478 | | | | | — | | | | | — | | | | | 60,000 | | | | | 161,478 | | | | | * | | | George L. Wilson | | | | 233,149 | | | | | — | | | | | — | | | | | 37,800 | | | | | 270,949 | | | | | * | | | ||||||||||||
| Scott M. Zuehlke | | | | 26,205 | | | | | — | | | | | — | | | | | 8,300 | | | | | 34,505 | | | | | * | | | Scott M. Zuehlke | | | | 60,209 | | | | | — | | | | | — | | | | | — | | | | | 60,209 | | | | | * | | | ||||||||||||
| Paul B. Cornett | | | | 21,816 | | | | | 7,816 | | | | | 2,372 | | | | | 16,300 | | | | | 48,304 | | | | | * | | | Paul B. Cornett | | | | 46,966 | | | | | — | | | | | 2,470 | | | | | 11,000 | | | | | 60,436 | | | | | * | | | ||||||||||||
| Mark A. Livingston | | | | 10,100 | | | | | — | | | | | — | | | | | — | | | | | 10,100 | | | | | * | | | Kimberley N. Garcia | | | | 16,366 | | | | | — | | | | | — | | | | | — | | | | | 16,366 | | | | | * | | | ||||||||||||
| Robert R. Buck | | | | — | | | | | 30,068 | | | | | 28,687 | | | | | 20,876 | | | | | 79,631 | | | | | * | | | Mark A. Livingston | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | * | | | ||||||||||||
| Susan F. Davis | | | | — | | | | | 37,479 | | | | | 22,116 | | | | | 15,876 | | | | | 75,471 | | | | | * | | | Susan F. Davis | | | | — | | | | | 50,859 | | | | | 23,028 | | | | | — | | | | | 73,887 | | | | | * | | | ||||||||||||
| Donald R. Maier | | | | — | | | | | 11,554 | | | | | — | | | | | — | | | | | 11,554 | | | | | * | | | Bradley Hughes | | | | — | | | | | 11,673 | | | | | 5,279 | | | | | — | | | | | 16,952 | | | | | * | | | ||||||||||||
| Meredith W. Mendes | | | | — | | | | | 8,708 | | | | | — | | | | | — | | | | | 8,708 | | | | | * | | | Jason D. Lippert | | | | 20,450 | | | | | 13,380 | | | | | 8,044 | | | | | — | | | | | 41,874 | | | | | * | | | ||||||||||||
| Joseph D. Rupp | | | | 45,910 | | | | | 37,479 | | | | | | | | | | 24,008 | | | | | 107,397 | | | | | * | | | Donald R. Maier | | | | — | | | | | 24,934 | | | | | — | | | | | — | | | | | 24,934 | | | | | * | | | ||||||||||||
| Curtis M. Stevens | | | | — | | | | | 28,065 | | | | | 15,249 | | | | | 29,008 | | | | | 72,322 | | | | | * | | | Curtis M. Stevens | | | | 5,009 | | | | | 28,239 | | | | | 15,877 | | | | | — | | | | | 49,125 | | | | | * | | | ||||||||||||
| William E. Waltz | | | | — | | | | | 4,413 | | | | | 825 | | | | | — | | | | | 5,238 | | | | | * | | | William E. Waltz, Jr. | | | | — | | | | | 17,793 | | | | | 11,751 | | | | | — | | | | | 29,544 | | | | | * | | | ||||||||||||
| All Officers and Directors as a group | | | | 439,145 | | | | | 167,123 | | | | | 68,424 | | | | | 466,768 | | | | | 1,141,460 | | | | | 3.43% | | | All Officers and Directors as a group | | | | 434,768 | | | | | 161,415 | | | | | 66,449 | | | | | 48,800 | | | | | 711,432 | | | | | 2.15 | | |
| | | FY 2020 | | FY 2019 | | | | FY 2023 | | FY 2022 | | ||||||||||||||||
| Audit Fees(1) | | | $ | 1,635,264 | | | | $ | 1,621,118 | | | Audit Fees(1) | | | $ | 1,959,398 | | | | $ | 1,795,268 | | | ||||
| Tax Fees(2) | | | | 66,780 | | | | | 58,300 | | | Audit-Related Fees | | | | — | | | | | — | | | ||||
| Total | | | $ | 1,702,044 | | | | $ | 1,679,418 | | | Tax Fees | | | | — | | | | | — | | | ||||
| All Other Fees | | | | — | | | | | — | | | ||||||||||||||||
| Total | | | $ | 1,959,398 | | | | $ | 1,795,268 | | |
| Pertinent Skill/Experience | | | Davis | | | Hughes | | | Lippert | | | Maier | | | Stevens | | | Waltz | | | Wilson | |
| Operations / Manufacturing Process Expertise | | | | | | | | | | | | | | | | | ||||||
| Strategy Development and Implementation Expertise | | | | | | | | | | | | | | | | |||||||
| CEO Experience | | | | | | | | | | | | | | | | | ||||||
| Accounting, CFO and/or Audit Committee Experience | | | | | | | | | | | | | | | | | ||||||
| IT/Cybersecurity Expertise | | | | | | | | | | | | | | | | | | | | | | |
| ESG/DE&I Expertise | | | | | | | | | | | | | | | | | | | | |||
| Risk Management Experience | | | | | | | | | | | | | | | | | ||||||
| Building Products Experience | | | | | | | | | | | | | | | | | | |||||
| M&A Experience | | | | | | | | | | | | | | | | |||||||
| Human Resources Experience | | | | | | | | | | | | | | | | | | | | |||
| International Expertise | | | | | | | | | | | | | | | | |||||||
| Ethnicity* | | | W | | | W | | | W | | | W | | | W | | | W | | | W | |
| Gender** | | | F | | | M | | | M | | | M | | | M | | | M | | | M | |
| Name and Address | | | Amount and Nature of Beneficial Ownership | | | Percent (%) | | ||||||
| BlackRock San Francisco, CA 94105400 Howard Street, | | | | | | | | | | | | ||
| 525 Market Street, 12th Floor, San Francisco, CA 94105 | | | | | | | | | | | | ||
| The Vanguard Group, Inc. PO Box 2600, V26, Valley Forge, PA 19482-2600 | | | | | 3,684,318(3) | | | | | | 11.1% | | |
| Dimensional Fund Advisors, L.P. 6300 Bee Cave Road, Building One, Austin, TX 78746 | | | | | | | | | | ||||
| |
| | | FY 2018 | | | FY 2019 | | | FY 2020 | | |||||||||
Adjusted EBITDA | | | | $ | 89.9 | | | | | $ | 102.7 | | | | | $ | 104.5 | | |
Selling, General, and Administrative Adjustments(1) | | | | | 0.9 | | | | | | 4.5 | | | | | | 1.4 | | |
Restructuring Charges | | | | | 1.5 | | | | | | 0.4 | | | | | | 0.6 | | |
Asset Impairment Charges | | | | | — | | | | | | 74.6 | | | | | | — | | |
Depreciation & Amortization | | | | | 51.8 | | | | | | 49.6 | | | | | | 47.2 | | |
Interest | | | | | 11.1 | | | | | | 9.6 | | | | | | 5.2 | | |
Other, net | | | | | (1.2) | | | | | | (0.1) | | | | | | (0.2) | | |
Tax | | | | | (0.8) | | | | | | 10.8 | | | | | | 11.8 | | |
Net income (loss) | | | | $ | 26.6 | | | | | $ | (46.7) | | | | | $ | 38.5 | | |
| | | | FY 2021 | | | FY 2022 | | | FY 2023 | | |||||||||
| Net Income | | | | $ | 57.0 | | | | | $ | 88.3 | | | | | $ | 82.5 | | |
| Income tax expense | | | | | 23.1 | | | | | | 21.4 | | | | | | 14.5 | | |
| Other, net | | | | | (0.7) | | | | | | (1.0) | | | | | | 5.5 | | |
| Interest expense | | | | | 2.5 | | | | | | 2.6 | | | | | | 8.1 | | |
| Depreciation and amortization | | | | | 42.7 | | | | | | 40.1 | | | | | | 42.9 | | |
| Cost of sales(1) | | | | | 0.3 | | | | | | — | | | | | | — | | |
| Selling, general, and administrative adjustments(2) | | | | | 1.9 | | | | | | 1.1 | | | | | | 6.1 | | |
| Adjusted EBITDA | | | | $ | 126.8 | | | | | $ | 152.5 | | | | | $ | 159.6 | | |