| THURSDAY, MAY | | | | 8:00 A.M. (EASTERN TIME) | |
| | | | By Order of the Board of Directors, | |
| | | | | |
| | | | Daniel L. Heard | |
| Little Rock, Arkansas | | | Executive Vice President — General Counsel and Secretary | |
| April | | | | |
| | Important notice regarding the availability of proxy materials for the | | |
| Date: | | | May | |
| Time: | | | 8:00 a.m. (Eastern time) | |
| Location: | | | Via the Internet: www.virtualshareholdermeeting.com/ | |
| Record Date: | | | Holders of our common stock at the close of business on March | |
Proposals | | | Required Approval | | | Board Recommendation | | | Page Reference | | |||
1. | | | Election of directors | | | Majority of Votes Cast for Each Nominee | | | FOR each nominee | | | | |
2. | | | Advisory vote to approve executive compensation | | | Majority of Votes Cast | | | FOR | | | | |
3. | | | Advisory vote on the frequency of future advisory votes to approve executive compensation | | | Majority of Votes Cast* | | | EVERY YEAR | | | | |
4. | | | Ratification of auditors | | | Majority of Votes Cast | | | FOR | | | |
Proposals | | | Required Approval | | | Board Recommendation | | | Page Reference | | |||
1. | | | Election of directors | | | Majority of Votes Cast for Each Nominee | | | FOR each nominee | | | | |
2. | | | Approval of an increase in the number of shares available for issuance under the Long-Term Incentive Plan and an extension of its term | | | Majority of Votes Cast | | | FOR | | | | |
3. | | | Advisory vote to approve executive compensation | | | Majority of Votes Cast | | | FOR | | | | |
4. | | | Ratification of auditor | | | Majority of Votes Cast | | | FOR | | | |
| | | Annual election of directors | | | | | Active stockholder engagement | | ||
| | | Majority voting and resignation policy for director elections | | | | | Prohibit hedging and unapproved pledging of our common stock | | ||
| | | Independent directors regularly meet without management present | | | | | | |||
| | | Board regularly assesses its performance through board and committee self-evaluations | | | | | No poison pill | | ||
| | | Independent Chairman | | | | | Robust stock ownership guidelines | |
| | | | | | | | | | | Committee Memberships | | | | | | | | | | | | Committee Memberships | | ||||||||||||||||||||||
| Name | | Age | | Director Since | | Principal Occupation | | Financial Expert | | Audit | | Compensation | | Governance | | Name | | Age | | Director Since | | Principal Occupation | | Financial Expert | | Audit | | Compensation | | Governance | | ||||||||||||||
| Jennifer S. Banner | | 62 | | 2015 | | Executive Director of the University of Tennessee Haslam College of Business Forum for Emerging Enterprises and Private Business | | | | — | | | Jennifer S. Banner | | 63 | | 2015 | | Executive Director of the University of Tennessee Haslam College of Business Forum for Emerging Enterprises and Private Business | | | | — | | | ||||||||||||||||||||
| Scott G. Bruce | | 60 | | 2016 | | President of Radius Global Infrastructure, Inc. | | | | | — | | Scott G. Bruce | | 61 | | 2016 | | President of Radius Global Infrastructure, Inc. | | | | | — | | ||||||||||||||||||||
| Francis X. (“Skip”) Frantz | | 68 | | 2015 | | Chairman of the Board of Uniti | | — | | — | | | | Francis X. (“Skip”) Frantz | | 69 | | 2015 | | Chairman of the Board of Uniti | | | — | | | | |||||||||||||||||||
| Kenneth A. Gunderman | | 51 | | 2015 | | President and CEO of Uniti | | — | | — | | — | | — | | Kenneth A. Gunderman | | 52 | | 2015 | | President and CEO of Uniti | | — | | — | | — | | — | | ||||||||||||||
| Carmen Perez-Carlton | | 61 | | 2019 | | Telecommunications Consultant | | | | — | | | Carmen Perez-Carlton | | 62 | | 2019 | | Telecommunications Consultant | | | | — | | | ||||||||||||||||||||
| David L. Solomon | | 62 | | 2015 | | Founder and Managing Director of Meritage Funds | | | | | — | | | | |
What We Do: | | | What We Don’t Do: | | ||||||
| | Align pay with performance by linking a substantial portion of compensation to the achievement of predefined performance metrics | | | | | Do NOT provide tax gross-ups in any circumstance | | ||
| | Retain an independent compensation consultant | | | | | Do NOT provide excessive perquisites for executives | | ||
| | Require compliance with stock ownership guidelines for executives and non-employee directors | | | | | Do NOT provide guaranteed bonuses | | ||
| | Include double-trigger change-in-control provisions in equity awards | | | | | Do NOT provide discount stock options or stock appreciation rights | | ||
| | Place caps on incentive award opportunities and conduct annual risk assessment | | | | | Do NOT pay dividends on performance-based restricted stock units prior to vesting | | ||
| | Maintain a clawback policy | | | | | Do NOT add back to our equity compensation plan reserves any shares tendered as payment for shares withheld for taxes | |
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| | | go to the website www.proxyvote.com and follow the instructions at that website; | | |
| | | call 1-800-690-6903 and follow the instructions provided on the call; or | | |
| | | if you received a proxy card in the mail, complete, sign, date and mail the proxy card in the return envelope provided to you. | |
Proposals | | | Required Approval | | |||
1. | | | Election of directors | | | Majority of Votes Cast for Each Nominee | |
| | | | Majority of Votes Cast | | ||
3. | | | Advisory vote | | | Majority of Votes Cast | |
4. | | | Ratification of | | | Majority of Votes Cast | |
Proposals | | | Abstentions | | | Broker Non-Votes | | |||
1. | | | Election of directors | | | No Effect | | | No Effect | |
2. | | | | | No Effect | | | No Effect | | |
3. | | | Advisory vote | | | No Effect | | | No Effect | |
4. | | | Ratification of | | | No Effect | | | Not Applicable | |
| | | Committee Memberships | | | | Committee Memberships | | ||||||||||||
Board Member | | Audit | | Compensation | | Governance | | | Audit | | Compensation | | Governance | | ||||||
Jennifer S. Banner | | | — | | | | | — | | | ||||||||||
Scott G. Bruce | | | | — | | | | | — | | ||||||||||
Francis X. (“Skip”) Frantz | | — | | | | | — | | | | ||||||||||
Kenneth A. Gunderman | | — | | — | | — | | | — | | — | | — | | ||||||
Carmen Perez-Carlton | | | — | | | | | — | | | ||||||||||
David L. Solomon | | | | — | | | | | — | | ||||||||||
Number Of Meetings Held In Fiscal 2021 | | 5 | | 5 | | 4 | | |||||||||||||
Number Of Meetings Held In Fiscal 2022 | | 4 | | 4 | | 4 | |
BOARD DIVERSITY MATRIX (AS OF APRIL 14, 2022) | | | ||||||||||||||
Total Number of Directors | | | 6 | | ||||||||||||
| | | Female | | | Male | | | Non-Binary | | | Did Not Disclose Gender | | | ||
Part I: Gender Identity | | | | | | | | | | | | | | | ||
Directors | | | 2 | | | 4 | | | — | | | — | | | ||
Part II: Demographic Background | | | | | | | | | | | | | | | ||
African American or Black | | | — | | | — | | | — | | | — | | | ||
Alaskan Native or Native American | | | — | | | — | | | — | | | — | | | ||
Asian | | | — | | | — | | | — | | | — | | | ||
Hispanic or Latinx | | | 1 | | | — | | | — | | | — | | | ||
Native Hawaiian or Pacific Islander | | | — | | | — | | | — | | | — | | | ||
White | | | 2 | | | 4 | | | — | | | — | | | ||
Two or More Races or Ethnicities | | | 1 | | | — | | | — | | | — | | | ||
LGBTQ+ | | | | | | | | | — | | | | ||||
Did Not Disclose Demographics Background | | | | | | | | | — | | | | | |
BOARD DIVERSITY MATRIX (AS OF APRIL 13, 2023) | | | ||||||||||||||
Total Number of Directors | | | 6 | | ||||||||||||
| | | Female | | | Male | | | Non-Binary | | | Did Not Disclose Gender | | | ||
Part I: Gender Identity | | | | | | | | | | | | | | | ||
Directors | | | 2 | | | 4 | | | — | | | — | | | ||
Part II: Demographic Background | | | | | | | | | | | | | | | ||
African American or Black | | | — | | | — | | | — | | | — | | | ||
Alaskan Native or Native American | | | — | | | — | | | — | | | — | | | ||
Asian | | | — | | | — | | | — | | | — | | | ||
Hispanic or Latinx | | | 1 | | | — | | | — | | | — | | | ||
Native Hawaiian or Pacific Islander | | | — | | | — | | | — | | | — | | | ||
White | | | 2 | | | 4 | | | — | | | — | | | ||
Two or More Races or Ethnicities | | | 1 | | | — | | | — | | | — | | | ||
LGBTQ+ | | | — | | | — | | | — | | | — | | | ||
Did Not Disclose Demographics Background | | | — | | | — | | | — | | | — | | |
BOARD DIVERSITY MATRIX (AS OF APRIL 14, 2022) | | | ||||||||||||||
Total Number of Directors | | | 6 | | ||||||||||||
| | | Female | | | Male | | | Non-Binary | | | Did Not Disclose Gender | | | ||
Part I: Gender Identity | | | | | | | | | | | | | | | ||
Directors | | | 2 | | | 4 | | | — | | | — | | | ||
Part II: Demographic Background | | | | | | | | | | | | | | | ||
African American or Black | | | — | | | — | | | — | | | — | | | ||
Alaskan Native or Native American | | | — | | | — | | | — | | | — | | | ||
Asian | | | — | | | — | | | — | | | — | | | ||
Hispanic or Latinx | | | 1 | | | — | | | — | | | — | | | ||
Native Hawaiian or Pacific Islander | | | — | | | — | | | — | | | — | | | ||
White | | | 2 | | | 4 | | | — | | | — | | | ||
Two or More Races or Ethnicities | | | 1 | | | — | | | — | | | — | | | ||
LGBTQ+ | | | — | | | — | | | — | | | — | | | ||
Did Not Disclose Demographics Background | | | — | | | — | | | — | | | — | | |
| Name | | Fees Earned or Paid in Cash ($) | | Stock Awards ($)(1) | | All Other Compensation ($) | | Total ($) | | Name | | Fees Earned or Paid in Cash ($) | | Stock Awards ($)(1) | | All Other Compensation ($) | | Total ($) | | ||||||||||||||||||||||||||||||||
| Jennifer S. Banner | | | | 75,000 | | | | | 173,989 | | | | | — | | | | | 248,989 | | | Jennifer S. Banner | | | | 100,000 | | | | | 160,817 | | | | | — | | | | | 260,817 | | | ||||||||
| Scott G. Bruce | | | | 75,000 | | | | | 173,989 | | | | | — | | | | | 248,989 | | | Scott G. Bruce | | | | 100,000 | | | | | 172,642 | | | | | — | | | | | 272,642 | | | ||||||||
| Francis X. (“Skip”) Frantz | | | | 150,000 | | | | | 166,844 | | | | | — | | | | | 316,844 | | | Francis X. (“Skip”) Frantz | | | | 250,000 | | | | | 165,549 | | | | | — | | | | | 415,549 | | | ||||||||
| Carmen Perez-Carlton | | | | 75,000 | | | | | 162,076 | | | | | — | | | | | 237,076 | | | Carmen Perez-Carlton | | | | 100,000 | | | | | 172,642 | | | | | — | | | | | 272,642 | | | ||||||||
| David L. Solomon | | | | 75,000 | | | | | 164,466 | | | | | — | | | | | 239,466 | | | David L. Solomon | | | | 100,000 | | | | | 163,178 | | | | | — | | | | | 263,178 | | |
| | BOARD RECOMMENDATION | | |
| | THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT STOCKHOLDERS VOTE “FOR” EACH OF THE FOREGOING NOMINEES. | | |
| | PROXIES SOLICITED BY THE BOARD OF DIRECTORS WILL BE VOTED “FOR” EACH OF THE FOREGOING NOMINEES UNLESS STOCKHOLDERS SPECIFY A CONTRARY VOTE. | | |
Types of Awards | | | Number of Shares | | |||
Options | | | | | 0 | | |
Restricted Stock Awards | | | | | 1,356,389 | | |
Performance-Based Restricted Stock Units | | | | | 847,147 | | |
Total Awards | | | | | 2,203,536 | | |
Shares of common stock outstanding as of December 31, 2022 | | | | | 235,829,485 | | |
Fiscal Year(1) | | | Restricted Stock Grants | | | PBRSUs Earned(2) | | | WASO(3) | | | Unadjusted Burn Rate | | ||||||||||||
2022 | | | | | 925,059 | | | | | | 200,979 | | | | | | 235,567,179 | | | | | | 0.48% | | |
2021 | | | | | 691,241 | | | | | | 224,077 | | | | | | 232,887,679 | | | | | | 0.39% | | |
2020 | | | | | 996,037 | | | | | | — | | | | | | 203,599,845 | | | | | | 0.49% | | |
| | | Number of Shares of Restricted Stock | | | Dollar Value ($)(1) | | | Number of PBRSUs | | | Dollar Value ($)(1) | | ||||||||||||
Executive Group (5 persons) | | | | | 214,033 | | | | | $ | 2,360,784 | | | | | | 321,237 | | | | | $ | 4,632,238 | | |
Employee Group | | | | | 635,339 | | | | | $ | 6,905,371 | | | | | | 103,773 | | | | | $ | 1,496,407 | | |
Director Group | | | | | 75,687 | | | | | $ | 836,507 | | | | | | — | | | | | $ | — | | |
Plan category | | | Number of securities to be issued upon exercise of outstanding options, warrants and rights | | | Weighted- average exercise price of outstanding options, warrants and rights | | | Number of securities available for future issuance under equity compensation plans (excluding securities reflected in column (a)) | | |||||||||
| | | (a) | | | (b) | | | (c) | | |||||||||
Equity compensation plans approved by security holders | | | | | — | | | | | | — | | | | | | 3,610,669(1) | | |
Equity compensation plans not approved by security holders | | | | | — | | | | | | — | | | | | | — | | |
Total | | | | | — | | | | | | — | | | | | | 3,610,669 | | |
| | BOARD RECOMMENDATION | | |
| | THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT STOCKHOLDERS VOTE “FOR” | | |
| | PROXIES SOLICITED BY THE BOARD OF DIRECTORS WILL BE VOTED “FOR” | | |
| Name and Address of Beneficial Owner | | | Amount and Nature of Beneficial Ownership | | | Percentage of Shares of Common Stock Beneficially Owned | | ||||||
| Jennifer S. Banner | | | | | | | | | | * | | | |
| Scott G. Bruce | | | | | | | | | | * | | | |
| Paul Bullington | | | | | | | | | | * | | | |
| Francis X. (“Skip”) Frantz | | | | | | | | | | * | | | |
| | | | | | | | | | * | | | ||
| | | | | | | | | | * | | | ||
| | | | | | | | | | * | | | ||
| Carmen Perez-Carlton | | | | | 93,748 | | | | | | * | | |
| David L. Solomon | | | | | 86,884 | | | | | | * | | |
| ||||||||||||||
All current directors and executive officers as a group | | | | | | | | | | * | | | ||
| The Vanguard Group 100 Vanguard Blvd. Malvern, PA 19355 | | | | | | | | | | | | ||
| BlackRock, Inc. 55 East 52nd Street New York, NY 10055 | | | | | | | | | | ||||
| |
AUDIT COMMITTEE: Carmen Perez-Carlton, Chair Jennifer S. Banner Scott G. Bruce David L. Solomon |
What We Do: | | | What We Don’t Do: | | ||||||
| | Align pay with performance by linking a substantial portion of compensation to the achievement of predefined performance metrics | | | | | Do NOT provide tax gross-ups in any circumstance | | ||
| | Retain an independent compensation consultant | | | | | Do NOT provide excessive perquisites for executives | | ||
| | Require compliance with stock ownership guidelines for executives and non-employee directors | | | | | Do NOT provide guaranteed bonuses | | ||
| | Include double-trigger change-in-control provisions in equity awards | | | | | Do NOT provide discount stock options or stock appreciation rights | | ||
| | Place caps on incentive award opportunities and conduct an annual risk assessment | | | | | Do NOT pay dividends on performance-based restricted stock units prior to vesting | | ||
| | Maintain a clawback policy | | | | | Do NOT add back to our equity compensation plan reserves any shares tendered as payment for shares withheld for taxes | |
| Peer Group for Evaluating Fiscal | | |||
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| Digital Realty Trust, Inc. | | | Retail Properties of America, Inc. | |
| EPR Properties | | | SBA Communications Corporation | |
| Equinix, Inc. | | | Spirit Realty Capital, Inc. | |
| Gaming & Leisure Properties, Inc. | | | | |
| Name | | Target Total Direct Compensation | | Name | | Target Total Direct Compensation | | ||||||||
| Kenneth A. Gunderman | | | $ | 4,531,250 | | | Kenneth A. Gunderman | | | $ | 4,531,250 | | | ||
| Daniel L. Heard | | | $ | 1,360,000 | | | Paul Bullington | | | $ | 1,540,000 | | | ||
| Mark A. Wallace | | | $ | 2,018,750 | | | Daniel L. Heard | | | $ | 1,400,000 | | | ||
| Michael Friloux | | | $ | 1,137,500 | | |
| Target Pay Mix for Mr. Gunderman | | | Target Pay Mix for | Messrs. Bullington, Heard | | ||
| | | |
| Name | | 2020 Base Salary | | 2021 Base Salary | | Name | | 2021 Base Salary | | 2022 Base Salary | | ||||||||||||||||
| Kenneth A. Gunderman | | | $ | 725,000 | | | | $ | 725,000 | | | Kenneth A. Gunderman | | | $ | 725,000 | | | | $ | 725,000 | | | ||||
| Paul Bullington | | | | N/A | | | | $ | 440,000 | | | Paul Bullington | | | $ | 440,000 | | | | $ | 440,000 | | | ||||
| Daniel L. Heard | | | $ | 400,000 | | | | $ | 400,000 | | | Daniel L. Heard | | | $ | 400,000 | | | | $ | 400,000 | | | ||||
| Mark A. Wallace | | | $ | 475,000 | | | | $ | 475,000 | | | Michael Friloux | | | $ | N/A | | | | $ | 325,000 | | |
| | | Target Cash Incentive(1) | | | | Target Cash Incentive(1) | | ||||||||||||||||||||
| Name | | % of Base Salary | | Amount | | Name | | % of Base Salary | | Amount | | ||||||||||||||||
| Kenneth A. Gunderman | | | | 150% | | | | $ | 1,087,500 | | | Kenneth A. Gunderman | | | | 150% | | | | $ | 1,087,500 | | | ||||
| Paul Bullington | | | | 100% | | | | $ | 143,000(2) | | | Paul Bullington | | | | 100% | | | | $ | 440,000 | | | ||||
| Daniel L. Heard | | | | 100% | | | | $ | 400,000 | | | Daniel L. Heard | | | | 100% | | | | $ | 400,000 | | | ||||
| Mark A. Wallace | | | | 125% | | | | $ | 593,750 | | | Michael Friloux | | | | 100% | | | | $ | 325,000 | | |
| | | Threshold | | Maximum | | | | Threshold | | Maximum | | ||||||||||||||||
| Kenneth A. Gunderman | | | | 75% | | | | | 225% | | | Kenneth A. Gunderman | | | | 75% | | | | | 225% | | | ||||
| Paul Bullington | | | | 50% | | | | | 150% | | | Paul Bullington | | | | 50% | | | | | 150% | | | ||||
| Daniel L. Heard | | | | 50% | | | | | 150% | | | Daniel L. Heard | | | | 50% | | | | | 150% | | | ||||
| Mark A. Wallace | | | | 75% | | | | | 175% | | | Michael Friloux | | | | 50% | | | | | 150% | | |
Performance Measure | | | Weighting | | | Description | |
Consolidated | | | 25% | | | Represents consolidated funds from operations, adjusted to exclude the impact of certain non-cash revenues and expenses, capital markets and merger and acquisition transactions and similar items, for the year ended December 31, | |
Capital Expenditures | | | 15% | | | Represents non-Growth Capital Improvement net capital expenditures measured on | |
Consolidated Bookings | | | 15% | | | New monthly recurring revenue bookings across all product lines. | |
Consolidated Installations | | | 15% | | | New monthly recurring revenue from new service installations, excluding bandwidth upgrades. | |
Consolidated SG&A | | | 30% | | | Represents selling, general, and administrative expenses across entire company, excluding stock-based compensation expense. | |
Performance Measures | | | Threshold | | | Target | | | Maximum | | | Actual Results | | |||
Consolidated AFFO | | | $ | | | $ | | | $ | | | $ | | |||
Capital Expenditures | | | $ | | | $ | | | $ | | | $ 168.1M | | |||
Consolidated Bookings | | | $2.9M | | | $3.3M | | | $ | | | $3.6M | | |||
Consolidated Installations | | | $ | | | $ | | | $ 3.9M | | | $3.3M | | |||
Consolidated SG&A | | | $ | | | $ | | | $ | | | $ | |
Name | | Actual Payout | | % of Target Cash Incentive Opportunity | | | Actual Payout | | % of Target Cash Incentive Opportunity | | ||||||||||||||||
Kenneth A. Gunderman | | | $ | 1,141,875 | | | | | 105% | | | | | $ | 1,305,000 | | | | | 120% | | | ||||
Paul Bullington | | | $ | 182,365 | | | | | 128% | | | | | $ | 528,000 | | | | | 120% | | | ||||
Daniel L. Heard | | | $ | 510,112 | | | | | 128% | | | | | $ | 480,000 | | | | | 120% | | | ||||
Michael Friloux | | | $ | 390,000 | | | | | 120% | | |
| Name | | Target Value of Restricted Shares and PBRSUs ($) | | Name | | Target Value of Restricted Shares and PBRSUs ($) | | ||||||||
| Kenneth A. Gunderman | | | $ | 2,718,750 | | | Kenneth A. Gunderman | | | $ | 2,718,750 | | | ||
| Mark A. Wallace | | | $ | 950,000 | | | Paul Bullington | | | $ | 660,000 | | | ||
| Daniel L. Heard | | | $ | 560,000 | | | Daniel L. Heard | | | $ | 600,000 | | | ||
| Michael Friloux | | | $ | 487,500 | | |
| Performance Criteria | | | Below Threshold | | | Threshold | | | Target | | | Maximum | | |||
| TSR position within the | | | <33rd percentile | | | 33rd percentile | | | 50th percentile | | | >75th percentile | ||||
| |||||||||||||||||
| Payout Opportunity | | | 0% of Target | | | 50% of Target | | | 100% of Target | | | 200% of Target | |
| Name | | Award Amount (at target level) | | Grant Date Fair Value (as reported in the Summary Compensation Table) | | Name | | Award Amount (at target level) | | Grant Date Fair Value (as reported in the Summary Compensation Table) | | ||||||||||||||||
| Kenneth A. Gunderman | | | $ | 2,718,750 | | | | $ | 3,137,527 | | | Kenneth A. Gunderman | | | $ | 2,718,750 | | | | $ | 2,967,063 | | | ||||
| Mark A. Wallace(1) | | | $ | 950,000 | | | | $ | 1,096,334 | | | Paul Bullington | | | $ | 660,000 | | | | $ | 720,286 | | | ||||
| Daniel L. Heard | | | $ | 560,000 | | | | $ | 646,259 | | | Daniel L. Heard | | | $ | 600,000 | | | | $ | 654,803 | | | ||||
| Michael Friloux | | | $ | 487,500 | | | | $ | 532,032 | | |
Officer | | | Ownership Level | |
Chief Executive Officer | | | five times base salary | |
Other Officers | | | three times base salary | |
| Name | | | Guideline Share Amount | | | Shares Owned | | ||||||
| Jennifer S. Banner | | | | | 20,947 | | | | | | 72,278 | | |
| Scott G. Bruce | | | | | 20,687 | | | | | | 94,796 | | |
| Paul Bullington | | | | | — | | | | | | 34,855 | | |
| Francis X. (“Skip”) Frantz | | | | | 20,947 | | | | | | 228,263 | | |
| Kenneth A. Gunderman | | | | | 344,582 | | | | | | 478,075 | | |
| Daniel L. Heard | | | | | 43,988 | | | | | | 90,651 | | |
| Carmen Perez-Carlton | | | | | 62,814 | | | | | | 42,226 | | |
| David L. Solomon | | | | | 20,947 | | | | | | 72,090 | | |
| Name | | | Guideline Share Amount | | | Shares Owned | | ||||||
| Jennifer S. Banner | | | | | 45,086(1) | | | | | | 86,858 | | |
| Scott G. Bruce | | | | | 20,687(2) | | | | | | 110,448 | | |
| Paul Bullington | | | | | 119,026(3) | | | | | | 154,910 | | |
| Francis X. (“Skip”) Frantz | | | | | 45,086(1) | | | | | | 259,290 | | |
| Michael Friloux | | | | | 87,917(3) | | | | | | 62,947 | | |
| Kenneth A. Gunderman | | | | | 326,871(1) | | | | | | 1,011,289 | | |
| Daniel L. Heard | | | | | 108,206(1) | | | | | | 168,439 | | |
| Ronald J. Mudry | | | | | —(4) | | | | | | 122,382 | | |
| Carmen Perez-Carlton | | | | | 62,814(5) | | | | | | 61,095 | | |
| David L. Solomon | | | | | 45,086(1) | | | | | | 86,884 | | |
| Name and Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards ($)(1) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($)(2) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation ($)(3) | | Total ($) | | Name and Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards ($)(1) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($)(2) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation ($)(3) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Kenneth A. Gunderman President and CEO | | | | | 2021 | | | | | 725,000 | | | | | — | | | | | 3,137,527 | | | | | — | | | | | 1,141,875 | | | | | — | | | | | 14,042 | | | | | 5,018,444 | | | Kenneth A. Gunderman President and CEO | | | | | 2022 | | | | | 725,000 | | | | | — | | | | | 2,967,063 | | | | | — | | | | | 1,305,000 | | | | | — | | | | | 14,135 | | | | | 5,011,198 | | | ||||||||||||||||
| | | 2020 | | | | | 725,000 | | | | | — | | | | | 3,951,703 | | | | | — | | | | | 2,092,712 | | | | | — | | | | | 18,048 | | | | | 6,787,463 | | | | | | 2021 | | | | | 725,000 | | | | | — | | | | | 3,137,527 | | | | | — | | | | | 1,141,875 | | | | | — | | | | | 14,042 | | | | | 5,018,444 | | | |||||||||||||||||||||
| | | 2019 | | | | | 725,000 | | | | | — | | | | | 4,252,663 | | | | | — | | | | | 1,022,250 | | | | | — | | | | | 17,366 | | | | | 6,017,279 | | | | | | 2020 | | | | | 725,000 | | | | | — | | | | | 3,951,703 | | | | | — | | | | | 2,092,712 | | | | | — | | | | | 18,048 | | | | | 6,787,463 | | | |||||||||||||||||||||
| Paul Bullington Senior Vice President—CFO and Treasurer | | | | 2021 | | | | | 364,817(4) | | | | | 40,000 | | | | | 170,389 | | | | | — | | | | | 182,365 | | | | | — | | | | | 115,328 | | | | | 899,899 | | | Paul Bullington SVP—CFO and Treasurer | | | | | 2022 | | | | | 440,000 | | | | | — | | | | | 720,286 | | | | | — | | | | | 528,000 | | | | | — | | | | | 13,276 | | | | | 1,701,562 | | | |||||||||||||||||
| Daniel L. Heard Executive Vice President—General Counsel and Secretary | | | | | 2021 | | | | | 400,000 | | | | | — | | | | | 646,259 | | | | | — | | | | | 510,112 | | | | | — | | | | | 13,430 | | | | | 1,569,801 | | | | | | 2021 | | | | | 364,817 | | | | | 40,000 | | | | | 170,389 | | | | | — | | | | | 182,365 | | | | | — | | | | | 115,328 | | | | | 872,899 | | | ||||||||||||||||||
| | | 2020 | | | | | 400,000 | | | | | — | | | | | 1,190,043 | | | | | — | | | | | 769,760 | | | | | — | | | | | 17,403 | | | | | 2,377,206 | | | Daniel L. Heard EVP—General Counsel and Secretary | | | | | 2022 | | | | | 400,000 | | | | | — | | | | | 654,803 | | | | | — | | | | | 480,000 | | | | | — | | | | | 13,522 | | | | | 1,548,325 | | | |||||||||||||||||||
| | | 2019 | | | | | 375,000 | | | | | — | | | | | 733,215 | | | | | — | | | | | 352,500 | | | | | — | | | | | 16,508 | | | | | 1,477,223 | | | | | | 2021 | | | | | 400,000 | | | | | — | | | | | 646,259 | | | | | — | | | | | 510,112 | | | | | — | | | | | 13,430 | | | | | 1,569,801 | | | |||||||||||||||||||||
| Mark A. Wallace Executive Vice President—CFO and Treasurer | | | | | 2021 | | | | | 264,135 | | | | | — | | | | | 1,096,334 | | | | | — | | | | | — | | | | | — | | | | | 3,386,582(5) | | | | | 4,747,051 | | | | | | 2020 | | | | | 400,000 | | | | | — | | | | | 1,190,043 | | | | | — | | | | | 769,760 | | | | | — | | | | | 17,403 | | | | | 2,377,206 | | | ||||||||||||||||||
| | | 2020 | | | | | 475,000 | | | | | — | | | | | 1,653,345 | | | | | — | | | | | 1,121,903 | | | | | — | | | | | 23,328 | | | | | 3,273,576 | | | Michael Friloux EVP—Chief Technology Officer | | | | 2022 | | | | | 325,000 | | | | | — | | | | | 532,032 | | | | | — | | | | | 390,000 | | | | | — | | | | | 14,311 | | | | | 1,261,343 | | | ||||||||||||||||||||
| | | 2019 | | | | | 450,000 | | | | | — | | | | | 1,231,787 | | | | | — | | | | | 423,000 | | | | | — | | | | | 22,490 | | | | | 2,127,277 | | |
| Name | | Grant Date Fair Value of PBRSUs (Probable Payout) ($) | | Grant Date Value of PBRSUs (Maximum Payout) ($) | | Name | | Grant Date Fair Value of PBRSUs (Probable Payout) ($) | | Grant Date Value of PBRSUs (Maximum Payout) ($) | | ||||||||||||||||
| Kenneth A. Gunderman | | | | 1,841,498 | | | | | 2,592,057 | | | Kenneth A. Gunderman | | | | 1,681,141 | | | | | 2,571,843 | | | ||||
| Paul Bullington | | | | 0 | | | | | 0 | | | Paul Bullington | | | | 408,115 | | | | | 624,342 | | | ||||
| Daniel L. Heard | | | | 379,307 | | | | | 533,904 | | | Daniel L. Heard | | | | 371,012 | | | | | 567,582 | | | ||||
| Mark A. Wallace | | | | 643,468 | | | | | 905,733 | | | Michael Friloux | | | | 301,450 | | | | | 461,164 | | |
| | | | | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards ($)(1) | | Estimated Future Payouts Under Equity Incentive Plan Awards (#)(2) | | | All Other Stock Awards: Number of Shares of Stock or Units (#)(3) | | Grant Date Fair Value of Stock and Option Awards(4) | | | | | | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards ($)(1) | | Estimated Future Payouts Under Equity Incentive Plan Awards (#)(2) | | | All Other Stock Awards: Number of Shares of Stock or Units (#)(3) | | Grant Date Fair Value of Stock and Option Awards($)(4) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | Grant Date | | Threshold ($) | | Target ($) | | Maximum ($) | | Threshold (#) | | Target (#) | | Maximum (#) | | Name | | Grant Date | | Threshold ($) | | Target ($) | | Maximum ($) | | Threshold (#) | | Target (#) | | Maximum (#) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Kenneth A. Gunderman | | | | 2/24/21 | | | | | 543,750 | | | | | 1,087,500 | | | | | 1,631,250 | | | | | | | | | | | | | | | | | | | | | | | | | | | | Kenneth A. Gunderman | | | | 2/23/22 | | | | $ | 543,750 | | | | $ | 1,087,500 | | | | $ | 1,631,250 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | 2/24/21 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 107,376 | | | | $ | 1,296,028 | | | | | | | 2/23/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 116,584 | | | | $ | 1,285,922 | | | ||||||||||||||||||
| | | | | 2/24/21 | | | | | | | | | | | | | | | | | | | | 53,688 | | | | | 107,376 | | | | | 214,752 | | | | | | | | | $ | 1,841,498 | | | | | | | 2/23/22 | | | | | | | | | | | | | | | | | | | | 58,292 | | | | | 116,584 | | | | | 233,168 | | | | | | | | | $ | 1,681,141 | | | ||||||||||||||||||
| Paul Bullington | | | | 9/9/21 | | | | | 71,500 | | | | | 143,000 | | | | | 214,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | Paul Bullington | | | | 2/23/22 | | | | $ | 220,000 | | | | $ | 440,000 | | | | $ | 660,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | 2/24/21 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 14,154 | | | | $ | 170,839 | | | | | | | 2/23/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 28,302 | | | | $ | 312,171 | | | ||||||||||||||||||
| Daniel L. Heard | | | | 2/24/21 | | | | | 200,000 | | | | | 400,000 | | | | | 600,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2/23/22 | | | | | | | | | | | | | | | | | | | | 14,151 | | | | | 28,302 | | | | | 56,604 | | | | | | | | | $ | 408,115 | | | ||||||||||||||||||
| | | | | 2/24/21 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 22,117 | | | | $ | 266,952 | | | Daniel L. Heard | | | | 2/23/22 | | | | $ | 200,000 | | | | $ | 400,000 | | | | $ | 600,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | 2/24/21 | | | | | | | | | | | | | | | | | | | | 11,059 | | | | | 22,117 | | | | | 44,234 | | | | | | | | | $ | 379,307 | | | | | | | 2/23/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 25,729 | | | | $ | 283,791 | | | ||||||||||||||||||
| Mark A. Wallace | | | | 2/24/21 | | | | | 356,250 | | | | | 593,750 | | | | | 831,250 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2/23/22 | | | | | | | | | | | | | | | | | | | | 12,865 | | | | | 25,729 | | | | | 51,458 | | | | | | | | | $ | 371,012 | | | ||||||||||||||||||
| | | | | 2/24/21 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 37,520 | | | | $ | 452,866 | | | Michael Friloux | | | | 2/23/22 | | | | $ | 162,500 | | | | $ | 325,000 | | | | $ | 487,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | 2/24/21 | | | | | | | | | | | | | | | | | | | | 18,760 | | | | | 37,520 | | | | | 75,040 | | | | | | | | | $ | 643,468 | | | | | | | 2/23/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 20,905 | | | | $ | 230,582 | | | ||||||||||||||||||
| | | | | 2/23/22 | | | | | | | | | | | | | | | | | | | | 10,453 | | | | | 20,905 | | | | | 41,810 | | | | | | | | | $ | 301,450 | | |
| | Stock Awards(1) | | | Stock Awards(1) | | ||||||||||||||||||||||||||||||||||||||||||||
Name | | Number of Shares or Units of Stock That Have Not Vested (#)(3) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(4) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(4) | | | Number of Shares or Units of Stock That Have Not Vested (#)(2) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(3) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(3) | | ||||||||||||||||||||||||||||||||
Kenneth A. Gunderman | | | | 304,768 | | | | $ | 4,269,800 | | | | | 272,692(5) | | | | $ | 3,198,677 | | | | | | 264,140 | | | | $ | 1,460,694 | | | | | 74,364(4) | | | | $ | 411,233 | | | ||||||||
| | | | | | | | | | | | | | 297,456(6) | | | | $ | 3,489,159 | | | | | | | | | | | | | | | | 53,688(5) | | | | $ | 296,895 | | | ||||||||
| | | | | | | | | | | | | | 107,376(7) | | | | $ | 1,504,338 | | | | | | | | | | | | | | | | 58,292(6) | | | | $ | 322,355 | | | ||||||||
Paul Bullington | | | | 32,577 | | | | $ | 456,404 | | | | | — | | | | $ | — | | | | | | 44,083 | | | | $ | 243,779 | | | | | 14,151(6) | | | | $ | 78,255 | | | ||||||||
Daniel L. Heard | | | | 59,812 | | | | $ | 837,966 | | | | | 47,016(5) | | | | $ | 551,498 | | | | | | 55,403 | | | | $ | 306,379 | | | | | 22,395(4) | | | | $ | 123,844 | | | ||||||||
| | | | | | | | | | | | | | 89,578(6) | | | | $ | 1,050,750 | | | | | | | | | | | | | | | | 11,059(5) | | | | $ | 61,156 | | | ||||||||
| | | | | | | | | | | | | | 22,117(7) | | | | $ | 309,859 | | | | | | | | | | | | | | | | 12,865(6) | | | | $ | 71,143 | | | ||||||||
Mark A. Wallace(2) | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||||||||
Michael Friloux | | | | 36,314 | | | | $ | 200,816 | | | | | 8,206(4) | | | | $ | 45,379 | | | |||||||||||||||||||||||||||||
| | | | | | | | | | | | | | 7,455(5) | | | | $ | 41,226 | | | |||||||||||||||||||||||||||||
| | | | | | | | | | | | | | 10,453(6) | | | | $ | 57,805 | | |
| | | Named Executive Officer | | | | Named Executive Officer | | ||||||||||||||||||||||||||||||||||||||
| Vesting Date | | Kenneth A. Gunderman | | Paul Bullington | | Daniel L. Heard | | Vesting Date | | Kenneth A. Gunderman | | Paul Bullington | | Daniel L. Heard | | Michael Friloux | | ||||||||||||||||||||||||||||
| 2/24/2022 | | | | 35,792 | | | | | 4,718 | | | | | 7,373 | | | 2/23/2023 | | | | 38,861 | | | | | 9,434 | | | | | 8,576 | | | | | 6,968 | | | |||||||
| 3/4/2022 | | | | 49,576 | | | | | 6,344 | | | | | 14,930 | | | 2/24/2023 | | | | 35,792 | | | | | 4,718 | | | | | 7,372 | | | | | 4,970 | | | |||||||
| 4/4/2022 | | | | 45,449 | | | | | 5,734 | | | | | 7,836 | | | 3/4/2023 | | | | 49,576 | | | | | 6,345 | | | | | 14,930 | | | | | 5,470 | | | |||||||
| 12/9/2022 | | | | 26,396 | | | | | — | | | | | — | | | 12/9/2023 | | | | 26,396 | | | | | — | | | | | — | | | | | — | | | |||||||
| 2/24/2023 | | | | 35,792 | | | | | 4,718 | | | | | 7,372 | | | 2/23/2024 | | | | 38,861 | | | | | 9,434 | | | | | 8,576 | | | | | 6,968 | | | |||||||
| 3/4/2023 | | | | 49,576 | | | | | 6,345 | | | | | 14,929 | | | 2/24/2024 | | | | 35,792 | | | | | 4,718 | | | | | 7,372 | | | | | 4,969 | | | |||||||
| 12/9/2023 | | | | 26,395 | | | | | — | | | | | — | | | 2/23/2025 | | | | 38,862 | | | | | 9,434 | | | | | 8,577 | | | | | 6,968 | | | |||||||
| 2/24/2024 | | | | 35,792 | | | | | 4,718 | | | | | 7,372 | | |
| | | | Stock Awards(1) | | |||||||||
| Name | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting ($) | | ||||||
| Kenneth A. Gunderman | | | | | 27,942(2) | | | | | $ | 351,510 | | |
| | | 49,576(3) | | | | | $ | 532,446 | | | |||
| | | 45,449(4) | | | | | $ | 513,119 | | | |||
| | | 26,396(5) | | | | | $ | 347,107 | | | |||
| Paul Bullington | | | | | 1,762(2) | | | | | $ | 22,166 | | |
| | | | | | 6,345(3) | | | | | $ | 68,145 | | |
| | | | | | 5,734(4) | | | | | $ | 64,737 | | |
| Daniel L. Heard | | | | | 4,818(2) | | | | | $ | 60,610 | | |
| | | | | | 14,930(3) | | | | | $ | 160,348 | | |
| | | | | | 7,836(4) | | | | | $ | 88,468 | | |
| Mark A. Wallace | | | | | 8,094(2) | | | | | $ | 101,823 | | |
| | | | | | 20,742(3) | | | | | $ | 222,769 | | |
| | | | | | 13,164(4) | | | | | $ | 148,622 | | |
| | | | | | 211,361(6) | | | | | $ | 2,735,011 | | |
| | | | Stock Awards(1) | | |||||||||
| Name | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting ($) | | ||||||
| Kenneth A. Gunderman | | | | | 35,792(2) | | | | | $ | 400,870 | | |
| | | | | | 49,576(3) | | | | | $ | 674,729 | | |
| | | | | | 318,143(4) | | | | | $ | 4,406,281 | | |
| | | | | | 26,396(5) | | | | | $ | 156,792 | | |
| Paul Bullington | | | | | 4,718(2) | | | | | $ | 52,842 | | |
| | | | | | 6,344(3) | | | | | $ | 86,342 | | |
| | | | | | 5,734(4) | | | | | $ | 79,416 | | |
| Daniel L. Heard | | | | | 7,373(2) | | | | | $ | 82,578 | | |
| | | | | | 14,929(3) | | | | | $ | 203,184 | | |
| | | | | | 54,852(4) | | | | | $ | 759,700 | | |
| Michael Friloux | | | | | 4,970(2) | | | | | $ | 55,664 | | |
| | | | | | 5,470(3) | | | | | $ | 74,447 | | |
| | | | | | 20,687(4) | | | | | $ | 286,515 | | |
| | | Executive Contributions in Last Fiscal Year ($)(1) | | Uniti Contributions in Last Fiscal Year ($) | | Aggregate Earnings in Last Fiscal Year ($)(2) | | Aggregate Withdrawals/ Distributions ($) | | Aggregate Balance at Last Fiscal Year-End ($) | | | | Executive Contributions in Last Fiscal Year ($)(1) | | Uniti Contributions in Last Fiscal Year ($) | | Aggregate Earnings in Last Fiscal Year ($)(2) | | Aggregate Withdrawals/ Distributions ($) | | Aggregate Balance at Last Fiscal Year-End ($) | | ||||||||||||||||||||||||||||||||||||||||
| Kenneth A. Gunderman | | | $ | 72,500 | | | | | — | | | | $ | 6,391 | | | | | — | | | | $ | 471,329 | | | Kenneth A. Gunderman | | | $ | 72,500 | | | | | — | | | | $ | 19,191 | | | | | — | | | | $ | 563,020 | | | ||||||||||
| Paul Bullington | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Paul Bullington | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||
| Daniel L. Heard | | | | — | | | | | — | | | | $ | 530 | | | | | — | | | | $ | 50,151 | | | Daniel L. Heard | | | | — | | | | | — | | | | $ | 1,358 | | | | | — | | | | $ | 51,509 | | | ||||||||||
| Mark A. Wallace | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Michael Friloux | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | |
| Type of Payment | | | Company- Approved Retirement | | | Termination without Cause or Resignation for Good Reason other than a Change in Control | | | Voluntary Termination without Good Reason or Termination for Cause | | | Change in Control with no Termination | | | Termination without Cause or Resignation for Good Reason following a Change in Control | | | Death or Disability | | ||||||||||||||||||
| Severance | | | | $ | 0 | | | | | $ | 4,911,531 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 5,999,031 | | | | | $ | 725,000 | | |
| Accelerated Vesting of Restricted Stock(1) | | | | $ | 1,495,755 | | | | | $ | 4,269,800 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 4,269,800 | | | | | $ | 4,269,800 | | |
| Accelerated Vesting of PBRSUs(1) | | | | $ | 3,764,155(2) | | | | | $ | 3,764,155(2) | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 5,955,187(3) | | | | | $ | 3,764,155 | | |
| Healthcare continuation | | | | $ | 0 | | | | | $ | 31,632 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 31,632 | | | | | $ | 0 | | |
| Total | | | | $ | 5,259,910 | | | | | $ | 12,977,118 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 16,255,650 | | | | | $ | 8,758,955 | | |
| Name | | | Type of Payment | | | Voluntary Termination without Good Reason or Termination for Cause ($) | | | Company Approved Retirement ($) | | | Termination without Cause or Resignation for Good Reason other than following a Change in Control ($) | | | Change in Control with no Termination ($) | | | Termination without Cause or Resignation for Good Reason following a Change in Control ($) | | | Death or Disability ($) | | ||||||||||||||||||
| Kenneth A. Gunderman | | | Severance | | | | | — | | | | | | — | | | | | $ | 4,680,177 | | | | | | — | | | | | $ | 5,767,677 | | | | | $ | 725,000 | | |
| Restricted Stock (1) | | | | | — | | | | | $ | 785,593 | | | | | $ | 1,460,694 | | | | | | — | | | | | $ | 1,460,694 | | | | | $ | 1,460,694 | | | |||
| PBRSUs (1) (2) | | | | | — | | | | | $ | 837,854 | | | | | $ | 837,854 | | | | | | — | | | | | $ | 1,263,738 | | | | | $ | 837,854 | | | |||
| Healthcare | | | | | — | | | | | | — | | | | | $ | 33,452 | | | | | | — | | | | | $ | 33,452 | | | | | | — | | | |||
| Total | | | | | — | | | | | $ | 1,623,447 | | | | | $ | 7,012,177 | | | | | | — | | | | | $ | 8,525,561 | | | | | $ | 3,023,548 | | | |||
| Paul Bullington | | | Severance | | | | | — | | | | | | — | | | | | $ | 893,781 | | | | | | — | | | | | $ | 1,631,709 | | | | | $ | 440,000 | | |
| Restricted Stock (1) | | | | | — | | | | | $ | 109,647 | | | | | $ | 243,779 | | | | | | — | | | | | $ | 243,779 | | | | | $ | 243,779 | | | |||
| PBRSUs (1) (2) | | | | | — | | | | | $ | 24,615 | | | | | $ | 24,615 | | | | | | — | | | | | $ | 86,746 | | | | | $ | 24,615 | | | |||
| Outplacement | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | $ | 25,000 | | | | | | — | | | |||
| Healthcare | | | | | — | | | | | | — | | | | | $ | 16,927 | | | | | | — | | | | | $ | 33,855 | | | | | | — | | | |||
| Total | | | | | — | | | | | $ | 134,262 | | | | | $ | 1,179,103 | | | | | | — | | | | | $ | 2,021,088 | | | | | $ | 708,394 | | | |||
| Daniel L. Heard | | | Severance | | | | | — | | | | | | — | | | | | $ | 1,266,186 | | | | | | — | | | | | $ | 2,088,248 | | | | | $ | 400,000 | | |
| Restricted Stock (1) | | | | | — | | | | | $ | 168,447 | | | | | $ | 306,379 | | | | | | — | | | | | $ | 306,379 | | | | | $ | 306,379 | | | |||
| PBRSUs (1) (2) | | | | | — | | | | | $ | 222,968 | | | | | $ | 222,968 | | | | | | — | | | | | $ | 317,445 | | | | | $ | 222,968 | | | |||
| Outplacement | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | $ | 25,000 | | | | | | — | | | |||
| Healthcare | | | | | — | | | | | | — | | | | | $ | 16,927 | | | | | | — | | | | | $ | 33,855 | | | | | | — | | | |||
| Total | | | | | — | | | | | $ | 391,416 | | | | | $ | 1,812,460 | | | | | | — | | | | | $ | 2,770,926 | | | | | $ | 929,347 | | | |||
| Michael Friloux | | | Severance | | | | | — | | | | | | — | | | | | $ | 927,324 | | | | | | — | | | | | $ | 1,561,432 | | | | | $ | 325,000 | | |
| Restricted Stock (1) | | | | | — | | | | | $ | 95,194 | | | | | $ | 200,816 | | | | | | — | | | | | $ | 200,816 | | | | | $ | 200,816 | | | |||
| PBRSUs (1)(2) | | | | | — | | | | | $ | 105,800 | | | | | $ | 105,800 | | | | | | — | | | | | $ | 174,399 | | | | | $ | 105,800 | | | |||
| Outplacement | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | $ | 25,000 | | | | | | — | | | |||
| Healthcare | | | | | — | | | | | | — | | | | | $ | 12,291 | | | | | | — | | | | | $ | 24,583 | | | | | | — | | | |||
| Total | | | | | — | | | | | $ | 200,993 | | | | | $ | 1,246,232 | | | | | | — | | | | | $ | 1,986,231 | | | | | $ | 631,616 | | |
| Type of Payment | | | Company- Approved Retirement | | | Termination without Cause other than following a Change in Control | | | Voluntary Termination without Good Reason or Termination for Cause | | | Change in Control with no Termination | | | Termination without Cause following a Change in Control | | | Death or Disability | | ||||||||||||||||||
| Severance(1) | | | | $ | 0 | | | | | $ | 752,526 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 752,526 | | | | | $ | 0 | | |
| Accelerated Vesting of Restricted Stock(1) | | | | $ | 189,350 | | | | | $ | 456,404 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 456,404 | | | | | $ | 456,404 | | |
| Accelerated Vesting of PBRSUs(2) | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | |
| Outplacement Services | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | |
| Healthcare continuation | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | |
| Total | | | | $ | 189,350 | | | | | $ | 1,208,930 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 1,208,930 | | | | | $ | 456,404 | | |
| Type of Payment | | | Company- Approved Retirement | | | Termination without Cause or Resignation for Good Reason other than following a Change in Control | | | Voluntary Termination without Good Reason or Termination for Cause | | | Change in Control with no Termination | | | Termination without Cause or Resignation for Good Reason following a Change in Control | | | Death or Disability | | ||||||||||||||||||
| Severance | | | | $ | 0 | | | | | $ | 1,255,872 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 2,074,495 | | | | | $ | 400,000 | | |
| Accelerated Vesting of Restricted Stock(1) | | | | $ | 342,316 | | | | | $ | 837,966 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 837,966 | | | | | $ | 837,966 | | |
| Accelerated Vesting of PBRSUs(1) | | | | $ | 809,588(2) | | | | | $ | 809,588(2) | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 1,258,654(3) | | | | | $ | 809,588 | | |
| Outplacement Services | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 25,000 | | | | | $ | 0 | | |
| Healthcare continuation | | | | $ | 0 | | | | | $ | 16,040 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 32,079 | | | | | $ | 0 | | |
| Total | | | | $ | 1,151,904 | | | | | $ | 2,919,466 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 4,228,194 | | | | | $ | 2,047,554 | | |
| Year (a) | | | Summary Compensation Table Total for CEO (b) | | | Compensation Actually Paid to CEO(1) (c) | | | Average Summary Compensation Table Total for Non-CEO NEOs (d) | | | Average Compensation Actually Paid to Non-CEO NEOs(1) (e) | | | Value of Initial Fixed $100 Investment Based On: | | | Net Income (Loss) (millions)(4) (h) | | | Adjusted EBITDA (millions)(5) (i) | | |||||||||||||||||||||||||||
| Total Shareholder Return(2) (f) | | | Peer Group Total Shareholder Return(3) (g) | | |||||||||||||||||||||||||||||||||||||||||||||
| 2022 | | | | $ | 5,011,198 | | | | | $ | (2,837,826) | | | | | $ | 1,503,743 | | | | | $ | 330,113 | | | | | $ | 81 | | | | | $ | 100 | | | | | $ | (8.1) | | | | | $ | 905.9 | | |
| 2021 | | | | $ | 5,018,444 | | | | | $ | 6,289,079 | | | | | $ | 2,396,584 | | | | | $ | 2,078,726 | | | | | $ | 193 | | | | | $ | 132 | | | | | $ | 124.7 | | | | | $ | 878.3 | | |
| 2020 | | | | $ | 6,787,463 | | | | | $ | 10,076,404 | | | | | $ | 2,825,391 | | | | | $ | 3,502,562 | | | | | $ | 153 | | | | | $ | 92 | | | | | $ | (718.8) | | | | | $ | 818.8 | | |
| Year | | | Reported Summary Compensation Table (SCT) Total(i) | | | Reported Value of Equity Awards(ii) | | | Equity Award Adjustments(iii) | | | Compensation Actually Paid | | ||||||||||||
| | | | A | | | B | | | C | | | A-B+C | | ||||||||||||
| Company’s CEO | | ||||||||||||||||||||||||
| 2022 | | | | $ | 5,011,198 | | | | | $ | 2,967,063 | | | | | $ | (4,881,960) | | | | | $ | (2,837,826) | | |
| 2021 | | | | $ | 5,018,444 | | | | | $ | 3,137,527 | | | | | $ | 4,408,162 | | | | | $ | 6,289,079 | | |
| 2020 | | | | $ | 6,787,463 | | | | | $ | 3,951,703 | | | | | $ | 7,240,644 | | | | | $ | 10,076,404 | | |
| Average of Non-CEO NEOs | | ||||||||||||||||||||||||
| 2022 | | | | $ | 1,503,743 | | | | | $ | 635,707 | | | | | $ | (537,923) | | | | | $ | 330,113 | | |
| 2021 | | | | $ | 2,396,584 | | | | | $ | 637,661 | | | | | $ | 319,803 | | | | | $ | 2,078,726 | | |
| 2020 | | | | $ | 2,825,391 | | | | | $ | 1,421,694 | | | | | $ | 2,098,865 | | | | | $ | 3,502,562 | | |
| Year | | | Plus Year End Fair Value of Outstanding Unvested Stock Awards Granted in the Year | | | Year over Year Change (Positive or Negative) in Fair Value at Year End of Outstanding and Unvested Stock Awards Granted in Prior Years | | | Year over Year Change (Positive or Negative) in Fair Value of Stock Awards Granted in Prior Years that Vested in the Year | | | Less Year End Fair Value of Awards Granted in Prior Years that Failed to Meet the Applicable Vesting Conditions in the Year | | | Plus Value of Dividends or other Earnings Paid on Stock Awards not Otherwise Reflected in Fair Value or Total Compensation | | | Total Equity Award Adjustments | | ||||||||||||||||||
| Company’s CEO | | ||||||||||||||||||||||||||||||||||||
| 2022 | | | | $ | 1,140,192 | | | | | $ | (6,309,301) | | | | | $ | (384,324) | | | | | | — | | | | | $ | 671,473 | | | | | $ | (4,881,960) | | |
| 2021 | | | | $ | 3,524,080 | | | | | $ | 587,799 | | | | | $ | (147,701) | | | | | | — | | | | | $ | 443,984 | | | | | $ | 4,408,162 | | |
| 2020 | | | | $ | 5,838,375 | | | | | $ | 1,787,268 | | | | | $ | (128,087) | | | | | $ | (423,390) | | | | | $ | 166,478 | | | | | $ | 7,240,644 | | |
| Average of Non-CEO NEOs | | ||||||||||||||||||||||||||||||||||||
| 2022 | | | | $ | 244,291 | | | | | $ | (827,187) | | | | | $ | (23,881) | | | | | | — | | | | | $ | 68,854 | | | | | $ | (537,923) | | |
| 2021 | | | | $ | 308,059 | | | | | $ | 90,646 | | | | | $ | (190,831) | | | | | | — | | | | | $ | 111,929 | | | | | $ | 319,803 | | |
| 2020 | | | | $ | 1,766,283 | | | | | $ | 412,912 | | | | | $ | (29,593) | | | | | $ | (97,814) | | | | | $ | 47,077 | | | | | $ | 2,098,865 | | |
| | BOARD RECOMMENDATION | | |
| | THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT STOCKHOLDERS VOTE “FOR” PROPOSAL NO. | | |
| | PROXIES SOLICITED BY THE BOARD OF DIRECTORS WILL BE VOTED “FOR” PROPOSAL NO. | | |
| | | 2021 | | 2020 | | | | 2022 | | 2021 | | ||||||||||||||||
| Audit Fees (a) | | | $ | 2,958,599 | | | | $ | 4,532,691 | | | Audit Fees (a) | | | $ | 2,768,438 | | | | $ | 2,958,599 | | | ||||
| Audit-Related Fees (b) | | | | — | | | | $ | 70,219 | | | Audit-Related Fees (b) | | | | 200,000 | | | | | — | | | ||||
| Tax Fees | | | | — | | | | $ | 48,451 | | | Tax Fees | | | | — | | | | | — | | | ||||
| All Other Fees (c) | | | | — | | | | | — | | | All Other Fees | | | | — | | | | | — | | | ||||
| Total | | | $ | 2,958,599 | | | | $ | 4,651,361 | | | Total | | | $ | 2,968,438 | | | | $ | 2,958,599 | | |
| | BOARD RECOMMENDATION | | |
| | THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT STOCKHOLDERS VOTE “FOR” PROPOSAL NO. 4. | | |
| | PROXIES SOLICITED BY THE BOARD OF DIRECTORS WILL BE VOTED “FOR” PROPOSAL NO. 4 UNLESS STOCKHOLDERS SPECIFY A CONTRARY VOTE. | | |
(Thousands) | | | Year Ended December 31, 2021 | | |||
Net loss attributable to common shareholders | | | | $ | 122,573 | | |
Real estate depreciation and amortization | | | | | 211,472 | | |
Gain on sale of real estate, net of tax | | | | | (442) | | |
Participating securities share in earnings | | | | | 1,077 | | |
Participating securities share in FFO | | | | | (2,188) | | |
Real estate depreciation and amortization from unconsolidated entities | | | | | 2,465 | | |
Adjustments for noncontrolling interests | | | | | (2,154) | | |
FFO attributable to common shareholders | | | | $ | 332,803 | | |
Transaction related costs | | | | | 7,544 | | |
Changes in fair value of contingent consideration | | | | | 21 | | |
Amortization of deferred financing costs and debt discount | | | | | 18,122 | | |
Write off deferred financing costs and debt discount | | | �� | | 24,587 | | |
Costs related to the early retirement of debt | | | | | 49,414 | | |
Stock based compensation | | | | | 13,847 | | |
Gain on sale of operations | | | | | (28,143) | | |
Non-real estate depreciation and amortization | | | | | 79,470 | | |
Straight-line revenues | | | | | (41,239) | | |
Maintenance capital expenditures | | | | | (8,342) | | |
Other, net | | | | | (17,694) | | |
Adjustments for equity in earnings from unconsolidated entities | | | | | 1,026 | | |
Adjustments for noncontrolling interests | | | | | (1,090) | | |
AFFO attributable to common shareholders | | | | $ | 430,326 | | |
(Thousands) | | | Year Ended December 31, 2022 | | |||
Net loss attributable to common shareholders | | | | $ | (9,430) | | |
Real estate depreciation and amortization | | | | | 211,892 | | |
Gain on sale of real estate, net of tax | | | | | (433) | | |
Participating securities share in earnings | | | | | 1,135 | | |
Participating securities share in FFO | | | | | (2,345) | | |
Real estate depreciation and amortization from unconsolidated entities | | | | | 2,366 | | |
Adjustments for noncontrolling interests | | | | | (260) | | |
FFO attributable to common shareholders | | | | $ | 202,925 | | |
Transaction related costs | | | | | 10,340 | | |
Amortization of deferred financing costs and debt discount | | | | | 18,147 | | |
Gain on extinguishment of debt | | | | | (10,754) | | |
Stock based compensation | | | | | 12,751 | | |
Gain on sale of unconsolidated entity, net of tax | | | | | (1,212) | | |
Gain on sale of operations | | | | | (176) | | |
Non-real estate depreciation and amortization | | | | | 80,896 | | |
Goodwill impairment | | | | | 240,500 | | |
Straight-line revenues and amortization of below-market intangibles | | | | | (40,925) | | |
Maintenance capital expenditures | | | | | (10,000) | | |
Other, net | | | | | (48,435) | | |
Adjustments for equity in earnings from unconsolidated entities | | | | | 1,207 | | |
Adjustments for noncontrolling interests | | | | | (146) | | |
AFFO attributable to common shareholders | | | | $ | 455,118 | | |