| Sincerely, | | |||
| | | | ||
| Mikel H. Williams Chairman of the Board | | | Daniel B. Poneman President and Chief Executive Officer | |
| Time and Date: | | | 10:00 a.m., Eastern Daylight Time, | |
| Place: | | | Online via live webcast. Stockholders may only participate online by logging in at | |
| Record Date: | | | April | |
| Voting: | | | Holders of our Class A common stock as of the record date are entitled to vote. Each share of Class A common stock is entitled to one vote for each director nominee and one vote for each of the other proposals to be voted on. | |
| | | | Board Vote Recommendation | |
| Election of | | | For | |
| | | | all the director nominees | |
| Management proposals | | | | |
| Advisory vote to advise the Board on the frequency of holding the advisory vote on the Company’s executive compensation | | | 1 Year | |
| Advisory vote to approve the Company’s executive compensation | | | For | |
| | | For | | |
| Ratification of Deloitte & Touche LLP as auditor for 2023 | | | For | |
| Transact other business that properly comes before the meeting | | | | |
Name | | Age | | Director Since | | Principal Occupation | | Independent | | EC | | AFC | | CNGC | | TCRC | | | Age | | Director Since | | Principal Occupation | | Independent | | EC | | AFC(1) | | CNGC | | TCRC | | ||||||||||||||||
Mikel H. Williams | | 65 | | 2013 | | Chief Executive Officer, Targus International LLC | | X | | X | | X | | | | X | | | 66 | | 2013 | | Chief Executive Officer, Targus International LLC | | X | | X | | X | | | | | | ||||||||||||||||
Kirkland H. Donald | | 68 | | 2021 | | Chairman, Huntington Ingalls- | | X | | | | | | | | X | | | 69 | | 2021 | | Chairman, HII, Inc. | | X | | | | X | | | | X | | ||||||||||||||||
W. Thomas Jagodinski | | 65 | | 2014 | | Private Investor | | X | | X | | X | | | | | | |||||||||||||||||||||||||||||||||
Tina W. Jonas | | 62 | | 2020 | | Private Investor | | X | | X | | X | | X | | | | | 63 | | 2020 | | Private Investor | | X | | X | | X | | X | | | | ||||||||||||||||
William J. Madia | | 74 | | 2008 | | Vice President emeritus, Stanford University | | X | | X | | | | | | X | | | 75 | | 2008 | | Vice President emeritus, Stanford University | | | | X | | | | | | X | | ||||||||||||||||
Daniel B. Poneman | | 66 | | 2015 | | President and Chief Executive Officer | | | | X | | | | | | | | | 67 | | 2015 | | President and Chief Executive Officer | | | | X | | | | | | | | ||||||||||||||||
Bradley J. Sawatzke | | 63 | | 2021 | | Retired Chief Executive Officer, Energy Northwest | | X | | | | | | X | | | | | 64 | | 2021 | | Retired Chief Executive Officer, Energy Northwest | | X | | | | | | X | | X | | ||||||||||||||||
Neil S. Subin | | 58 | | 2017 | | Managing Member and Chairman of the Board of Broadbill Investment Partners, LLC | | X | | | | | | X | | | | | 59 | | 2017 | | Chairman, Broadbill Investment Partners LLC | | X | | | | | | X | | | |
| EC: | | | Executive Committee | |
| AFC: | | | Audit and Finance Committee | |
| CNGC: | | | Compensation, Nominating and Governance Committee | |
| TCRC: | | | Technology, Competition and Regulatory Committee | |
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| | | Mikel H. Williams | | | Director since 2013 66Age | | |
| Mr. Williams has served since 2016 as the Mr. Williams formerly served as the In recommending the election of Mr. Williams, the Board considered the following key competencies: Centrus leadership as current Chairman; CEO and CFO experience; advanced technology and manufacturing experience; and public company experience. Mr. Williams has served as Centrus’ Chairman since September 2014. | |
| ||||||||
| | William J. Madia | | | Director since 2008 75Age | | ||
| Dr. Madia is a vice president emeritus at Stanford University where he was responsible for oversight of the SLAC National Accelerator Laboratory, a U.S. Department of Energy (“DOE”) national science lab. Dr. Madia retired from Stanford in October 2019. Dr. Madia is also president of Madia & Associates, In recommending the election of Dr. Madia, the Board considered the following key competencies: science and technology experience, including a Ph.D. in nuclear chemistry; nuclear experience; DOE experience, including the management of six DOE laboratories; and executive and management experience. | |
| | | Daniel B. Poneman | | | Director since 2015 67Age | | ||||
| Mr. Poneman has been our President and In recommending the election of Mr. Poneman, the Board considered the following key competencies: current service as Centrus CEO; energy experience; government and contracting experience; and nuclear and defense experience. | |
| | | Neil S. Subin | | | Director since 2017 59Age | | |
| Mr. Subin serves as Chief Investment Officer for MILFAM, a single-family office exclusively managing the assets of the Miller family. Previously, Mr. Subin was the Chairman of Broadbill Investment Partners, LLC, a private investment management firm focused on distressed and special situations investments. Prior to Broadbill, he was the founder and Managing Director of Trendex Capital Management Corp., a private investment advisor focusing primarily on financially distressed companies. Mr. Subin serves on other boards of directors, including those of Alimco Financial Corp. and DynTek Inc. Mr. Subin has held numerous other board seats, including on the boards of directors of Penn Treaty American Corp., PHAZR Inc., FiberTower Corp., Phosphate Holdings, Inc. and Institutional Financial Markets, Inc. In recommending the election of Mr. Subin, the Board considered the following key competencies: finance experience; and public company experience. | |
| | | Tina W. Jonas | | | Director since 2020 63Age | | |
| Ms. Jonas is an executive with a distinguished career in government and in the private sector. Ms. Jonas is currently an independent consultant and serves on several boards in the defense and aerospace sectors. Prior to becoming an independent consultant, Ms. Jonas served as an executive with UnitedHealth Group, as President of UnitedHealthcare, Military and Veterans, and as Senior Vice President, Operations for Optum, from 2012 to 2014. A recognized expert in military and defense issues, she served more than two decades in government including as Undersecretary of Defense (Chief Financial Officer/Comptroller) for the Department of Defense, from 2004 to 2008. Her corporate experience included serving as a director of operations with United Technologies Corp (NYSE; UTX), Sikorsky Aircraft, from 2008 to 2010. In recommending the election of Ms. Jonas, the Board considered the following key competencies: financial experience, energy experience; government and contracting experience; and nuclear and defense experience. | |
| | | Kirkland H. Donald | | | Director since 2021 Age 69 | | ||||
| Kirkland • Entergy Corporation (nuclear utility) — Finance Committee and Chairman of the Nuclear Committee. • HII, Inc. (naval shipbuilding) — Chairman of the Board, Finance Committee, Cybersecurity Committee. Additionally, Admiral Donald serves on the following private/non-profit boards: • Battelle (technology research and development) — • CyberCore Technologies (supply chain security solutions). He also In recommending the election of Admiral Donald, the Board considered the following key competencies: nuclear and defense experience, energy and utility experience; government and contracting experience; public company experience; and executive and management experience. | |
| | | Bradley J. Sawatzke | | | Director since 2021 Age 64 | | |
| Bradley J. Sawatzke was appointed CEO of Energy Northwest in April 2018 and retired in June 2021. He previously served as Chief Operating Officer/Chief Nuclear Officer from December 2014 through March 2018, with responsibility for all Energy Northwest generating units. He joined Energy Northwest as Vice President of Nuclear Generation/Chief Nuclear Officer in December 2010. Mr. Sawatzke also serves on the Institute of Nuclear Power Operations Accrediting board and Association of Washington Business Technical board. Mr. Sawatzke holds a Bachelor of Science in Applied Reactor Physics from Winona State University and is a graduate of the Harvard Advanced Management Training Program. In recommending the election of Mr. Sawatzke the Board considered the following key competencies: nuclear industry experience, energy and utility experience; public company experience; and executive and management experience. | |
| | | Tetsuo Iguchi | | | Director since 2017 56Age | | ||||
| Mr. Iguchi is Senior Vice President of Government & Industry Relations and General Manager of the Washington D.C. office of Toshiba America, Inc. Mr. Iguchi previously was assigned to the Overseas Sales and Marketing Department for the Nuclear Division and | |
Director | | Executive Committee | | Audit and Finance Committee | | Compensation, Nominating and Governance Committee | | Technology, Competition and Regulatory Committee | | | Executive Committee | | Audit and Finance Committee | | Compensation, Nominating and Governance Committee | | Technology, Competition and Regulatory Committee | | ||||||||
Kirkland H. Donald | | | | | | | | X | | | | | | | | | X | | ||||||||
W. Thomas Jagodinski | | X | | Chair | | | | | | | X | | Chair | | | | | | ||||||||
Tina W. Jonas | | X | | X | | Chair | | | | | X | | X | | Chair | | | | ||||||||
William J. Madia | | X | | | | | | Chair | | | X | | | | | | Chair | | ||||||||
Daniel B. Poneman | | X | | | | | | | | | X | | | | | | | | ||||||||
Bradley J. Sawatzke | | | | | | X | | | | | | | | | X | | X | | ||||||||
Neil S. Subin | | | | | | X | | | | | | | | | X | | | | ||||||||
Mikel H. Williams | | Chair | | X | | | X | | | Chair | | X | | | | | | |||||||||
Number of Meetings in 2021 | | 5 | | 4 | | 10 | | 4 | | |||||||||||||||||
Number of Meetings in 2022 | | 1 | | 5 | | 9 | | 4 | |
Form of Compensation | | Amount | | | Amount | | ||||||||
Board annual cash retainer(1) | | | $ | 72,000 | | | | | $ | 72,000 | | | ||
Restricted stock unit grant(2) | | | $ | 70,000 | | | | | $ | 100,000(5) | | | ||
Chairman fees(3) | | | | | | | | | ||||||
Board | | | $ | 100,000 | | | | | $ | 100,000 | | | ||
Audit and Finance Committee | | | $ | 15,000 | | | | | $ | 15,000 | | | ||
CN&G Committee | | | $ | 15,000 | | | | | $ | 15,000 | | | ||
Technology, Competition and Regulatory Committee | | | $ | 50,000 | | | | | $ | 50,000 | | | ||
Committee annual cash retainer(4) | | | $ | 10,000 | | | | | $ | 10,000 | | |
Name(1) | | Fees Earned or Paid in Cash ($) | | Stock Awards(2) ($) | | Total ($) | | | Fees Earned or Paid in Cash ($) | | Stock Awards(2) ($) | | All Other Compensation(3) ($) | | Total ($) | | ||||||||||||||||||||||||||||
Kirkland H. Donald | | | $ | 82,000 | | | | $ | 70,000 | | | | $ | 152,000 | | | | | $ | 92,000 | | | | $ | 99,987.60 | | | | | — | | | | $ | 191,987.60 | | | |||||||
W. Thomas Jagodinski | | | $ | 97,000 | | | | $ | 70,000 | | | | $ | 167,000 | | | | | $ | 97,000 | | | | $ | 99,987.60 | | | | | — | | | | $ | 196,987.60 | | | |||||||
Tina W. Jonas | | | $ | 107,000 | | | | $ | 70,000 | | | | $ | 177,000 | | | | | $ | 107,000 | | | | $ | 99,987.60 | | | | | — | | | | $ | 206,987.60 | | | |||||||
William J. Madia | | | $ | 132,000 | | | | $ | 70,000 | | | | $ | 202,000 | | | | | $ | 142,000 | | | | $ | 99,987.60 | | | | $ | 388,000.00 | | | | $ | 629,987.60 | | | |||||||
Bradley J. Sawatzke | | | $ | 82,000 | | | | $ | 70,000 | | | | $ | 152,000 | | | | | $ | 92,000 | | | | $ | 99,987.60 | | | | | — | | | | $ | 191,987.60 | | | |||||||
Neil Subin | | | $ | 82,000 | | | | $ | 70,000 | | | | $ | 152,000 | | | | | $ | 82,000 | | | | $ | 99,987.60 | | | | | — | | | | $ | 181,987.60 | | | |||||||
Mikel H. Williams | | | $ | 192,000 | | | | $ | 70,000 | | | | $ | 262,000 | | | | | $ | 182,000 | | | | $ | 99,987.60 | | | | | — | | | | $ | 281,987.60 | | |
Name | | | Grant Date | | | Number of Restricted Stock Units | | | Grant Date Fair Value ($) | | |||||||||
Kirkland H. Donald | | | | | 08/10/21 | | | | | | 2,786 | | | | | | 70,012 | | |
W. Thomas Jagodinski | | | | | 08/10/21 | | | | | | 2,786 | | | | | | 70,012 | | |
Tina W. Jonas | | | | | 08/10/21 | | | | | | 2,786 | | | | | | 70,012 | | |
William J. Madia | | | | | 08/10/21 | | | | | | 2,786 | | | | | | 70,012 | | |
Bradley J. Sawatzke | | | | | 08/10/21 | | | | | | 2,786 | | | | | | 70,012 | | |
Neil Subin | | | | | 08/10/21 | | | | | | 2,786 | | | | | | 70,012 | | |
Mikel H. Williams | | | | | 08/10/21 | | | | | | 2,786 | | | | | | 70,012 | | |
Name | | | Grant Date | | | Number of Restricted Stock Units | | | Grant Date Fair Value ($) | | |||||||||
Kirkland H. Donald | | | | | 08/05/22 | | | | | | 2,577 | | | | | | 99,987.60 | | |
W. Thomas Jagodinski | | | | | 08/05/22 | | | | | | 2,577 | | | | | | 99,987.60 | | |
Tina W. Jonas | | | | | 08/05/22 | | | | | | 2,577 | | | | | | 99,987.60 | | |
William J. Madia | | | | | 08/05/22 | | | | | | 12,577 | | | | | | 487,987.60 | | |
Bradley J. Sawatzke | | | | | 08/05/22 | | | | | | 2,577 | | | | | | 99,987.60 | | |
Neil Subin | | | | | 08/05/22 | | | | | | 2,577 | | | | | | 99,987.60 | | |
Mikel H. Williams | | | | | 08/05/22 | | | | | | 2,577 | | | | | | 99,987.60 | | |
Name | | | Age | | | Position | |
Daniel B. Poneman | | | | | President and Chief Executive Officer | | |
Larry B. Cutlip | | | | | Senior Vice President, Field Operations | | |
John M.A. Donelson | | | | | Senior Vice President | | |
Kevin J. Harrill | | | | | Controller and Chief Accounting Officer | | |
Dennis J. Scott | | | | | Senior Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary | | |
Philip O. Strawbridge | | | | | Senior Vice President, Chief Financial Officer, Chief Administrative Officer and Treasurer | |
Name of Beneficial Owners(1) | | Beneficial Ownership(2) | | Percentage of Class A Owned | | | Beneficial Ownership(2) | | Percentage of Class A Owned | | ||||||||||||||||
Directors and Nominees | | | | | | | | | | | | | | | | | | | | | | | ||||
Mikel H. Williams | | | | 47,445 | | | | | * | | | | | | 50,022 | | | | | * | | | ||||
Kirkland H. Donald | | | | 2,786 | | | | | * | | | | | | 5,363 | | | | | * | | | ||||
Tetsuo Iguchi | | | | — | | | | | — | | | | | | — | | | | | — | | | ||||
W. Thomas Jagodinski | | | | 47,445 | | | | | * | | | | | | 50,022 | | | | | * | | | ||||
Tina W. Jonas | | | | 9,520 | | | | | * | | | | | | 12,097 | | | | | * | | | ||||
William J. Madia | | | | 47,445 | | | | | * | | | | | | 60,022 | | | | | * | | | ||||
Bradley J. Sawatzke | | | | 2,786 | | | | | * | | | | | | 5,363 | | | | | * | | | ||||
Neil S. Subin(3) | | | | 1,237,924 | | | | | 8.98% | | | | | | 634,667 | | | | | 4.3% | | | ||||
Daniel B. Poneman(4) | | | | 178,852 | | | | | 1.30% | | | | | | 92,710 | | | | | * | | | ||||
Named Executive Officers (excluding Mr. Poneman) | | | | | | | | | | | | | | | | | | | | | | | ||||
Philip O. Strawbridge | | | | — | | | | | * | | | | | | — | | | | | * | | | ||||
John M.A. Donelson | | | | 13,824 | | | | | * | | | | | | 13,891 | | | | | * | | | ||||
Directors and all executive officers as a group (14 persons) | | | | 1,588,027 | | | | | 10.28% | | | |||||||||||||||
Dennis J. Scott | | | | — | | | | | * | | | |||||||||||||||
Larry B. Cutlip | | | | 12,837 | | | | | * | | | |||||||||||||||
Directors and all executive officers as a group (16 persons) | | | | 945,959 | | | | | 6.4% | | |
Name and Address of Beneficial Owner | | | Amount and Nature of Beneficial Ownership | | | Percent of Class Owned | | |||
Morris Bawabeh 15 Ocean Avenue Brooklyn, NY 11225 | | | | | 1,621,776 | | | | 11.77% | |
Neil S. Subin 2336 SE Ocean Boulevard Suite 400 Stuart, Florida 34996 | | | | | 1,237,924 | | | | 8.98% | |
Name and Address of Beneficial Owner | | | Amount and Nature of Beneficial Ownership | | | Percent of Class Owned(1) | | ||||||
Morris Bawabeh 15 Ocean Avenue Brooklyn, NY 11225 | | | | | 1,667,776(2) | | | | | | 11.3% | | |
| | Objective | | | | How We Implement Our Objectives | | |
| | Compensation should be aligned with stockholders’ interests. | | | | • Strong incentives to maximize long-term value for our stakeholders. • Long-term stock ownership by executives and performance incentives provides ongoing alignment. | | |
| | Compensation should support our business strategy and objectives | | | | • Reward successful execution of our business plan by linking performance goals directly to our business plan. • Stretch performance goals encourage innovation by executives while not encouraging excessive risk-taking. | | |
| | Compensation should be structured to pay for performance. | | | | • A substantial portion of the total compensation opportunity is variable and dependent upon the individual’s and the Company’s performance. • 2022 realized compensation was above target opportunity compensation | | |
| | Compensation opportunities should be market competitive. | | | | • Compensation and benefits programs are designed to provide competitive compensation relative to the labor markets for our executives while maintaining fiscal responsibility for our stockholders. • Target total direct opportunity compensation are intended to approximate the 50th percentile of the market. • From time to time, individual executives may be positioned above or below the 50th percentile, as appropriate, based on a combination of factors such as criticality of the role, market demand, individual performance and/or retention risk, among others. | | |
| | Compensation and benefits programs should encourage short-term and long-term retention. | | | | • Our compensation and benefits programs are intended to encourage retention and reward continuity of service, which is particularly important due to the unique skill sets of our executives. • Short-term retention is also important due to the challenges currently facing our business. | | |
Company | | | Most Recently Reported 12-Month Revenues ($M) | | | Current Balance Sheet Assets ($M) | | | Capital Intensity (Assets divided by Revenues) | | | 6/28/2021 Market Capitalization ($M) | | ||||||||||||
AAR Corp. | | | | $ | 1,631 | | | | | $ | 1,643 | | | | | | 1.0 | | | | | $ | 1,346 | | |
Aerojet Rocketdyne Holdings, Inc. | | | | $ | 2,093 | | | | | $ | 2,364 | | | | | | 1.1 | | | | | $ | 3,787 | | |
AeroVironment, Inc. | | | | $ | 395 | | | | | $ | 929 | | | | | | 2.4 | | | | | $ | 2,710 | | |
AerSale Corporation | | | | $ | 210 | | | | | $ | 400 | | | | | | 1.9 | | | | | $ | 519 | | |
Air Industries Group | | | | $ | 50 | | | | | $ | 57 | | | | | | 1.1 | | | | | $ | 40 | | |
Astronics Corporation | | | | $ | 451 | | | | | $ | 606 | | | | | | 1.3 | | | | | $ | 525 | | |
BWX Technologies, Inc. | | | | $ | 2,110 | | | | | $ | 2,352 | | | | | | 1.1 | | | | | $ | 5,551 | | |
Byrna Technologies Inc. | | | | $ | 38 | | | | | $ | 22 | | | | | | 0.6 | | | | | $ | 465 | | |
CPI Aerostructures, Inc. | | | | $ | 88 | | | | | $ | 50 | | | | | | 0.6 | | | | | $ | 40 | | |
Curtiss-Wright Corporation | | | | $ | 2,387 | | | | | $ | 3,981 | | | | | | 1.7 | | | | | $ | 4,894 | | |
Ducommun Incorporated | | | | $ | 613 | | | | | $ | 826 | | | | | | 1.3 | | | | | $ | 637 | | |
Fission Uranium Corp. | | | | $ | 0 | | | | | $ | 281 | | | | | | — | | | | | $ | 298 | | |
Fluor Corporation | | | | $ | 14,909 | | | | | $ | 7,021 | | | | | | 0.5 | | | | | $ | 2,551 | | |
HEICO Corporation | | | | $ | 1,697 | | | | | $ | 3,595 | | | | | | 2.1 | | | | | $ | 17,929 | | |
Hexcel Corporation | | | | $ | 1,272 | | | | | $ | 2,894 | | | | | | 2.3 | | | | | $ | 5,190 | | |
Kratos Defense & Security Solutions, Inc. | | | | $ | 773 | | | | | $ | 1,565 | | | | | | 2.0 | | | | | $ | 3,381 | | |
Lightbridge Corporation | | | | $ | 0 | | | | | $ | 16 | | | | | | — | | | | | $ | 45 | | |
Moog Inc. | | | | $ | 2,785 | | | | | $ | 3,406 | | | | | | 1.2 | | | | | $ | 2,738 | | |
NV5 Global, Inc. | | | | $ | 647 | | | | | $ | 896 | | | | | | 1.4 | | | | | $ | 1,418 | | |
PAE Incorporated | | | | $ | 2,846 | | | | | $ | 1,828 | | | | | | 0.6 | | | | | $ | 823 | | |
Parsons Corporation | | | | $ | 3,823 | | | | | $ | 3,865 | | | | | | 1.0 | | | | | $ | 4,085 | | |
RADA Electronic Industries Ltd. | | | | $ | 86 | | | | | $ | 170 | | | | | | 2.0 | | | | | $ | 592 | | |
TAT Technologies Ltd. | | | | $ | 69 | | | | | $ | 115 | | | | | | 1.7 | | | | | $ | 53 | | |
Uranium Energy Corp. | | | | $ | 0 | | | | | $ | 164 | | | | | | — | | | | | $ | 609 | | |
Oriental Non-Ferrous Resources Development Inc. | | | | $ | 0 | | | | | $ | 16 | | | | | | — | | | | | $ | 50 | | |
Williams Industrial Services Group Inc. | | | | $ | 264 | | | | | $ | 108 | | | | | | 0.4 | | | | | $ | 145 | | |
| | Compensation Element | | | | Objective | | | | Key Features | | |
| | Base Salary | | | | • Provides a stable annual income at a level consistent with individual contributions. | | | | • Reflects individual performance, level of pay relative to the market, internal pay equity and retention considerations. • Adjustments are considered annually (or in the event of change in responsibilities). | | |
| | Annual Cash Inventive Award | | | | • Rewards the achievement of critical annual performance goals aligned with corporate strategic objectives | | | | • Performance-based reward tied to achievement of short-term corporate and individual performance. • Annual incentives can vary from 0% to 150% of the target amount. • Annual performance goals are predetermined. | | |
| | Compensation Element | | | | Objective | | | | Key Features | | |
| | Long Term Incentive Award | | | | • Aligns NEO’s interests with long-term stockholder interests by linking part of each NEO’s compensation to long-term corporate stock performance, as well as rewarding total stockholder return performance. • Provides opportunities for investment in and ownership of the Company, which is designed to promote retention and enable us to attract and motivate our NEOs. • Retains NEOs through multi-year vesting. | | | | • Links value to stock price. • Comprised of 100% performance-based RSUs with overlapping three-year performance periods. • Vesting subject to achievement of cumulative net income performance threshold. | | |
| | Goal | | | | Targets | | | | Achievement Versus Target | | | | Score for Goal Category | | �� |
| | 1. Expand market position as an established enrichment supplier: build customer base and increase market share. (Weight = 35%) | | | | Achieve $230 MM of revenue in the LEU segment with a total gross profit of $115 MM. | | | | Exceeded Target: • Achieved $235.6 MM of revenue in the LEU segment. • Achieved total gross profit of $130.6 MM. | | | | Overall Goal 1 performance: 129% of target (weighted average: 45%) | | |
| New Business: Originate $100 MM of SWU business with an average projected cash margin target established by the Committee. | | | | Exceeded Target: • Originated $302 MM of new SWU business. • With an average projected cash margin that exceeded the target. | | | |||||||||
| | 2. Expand business offerings and diversify revenue (Weight = 25%) | | | | Centrus Technical Solution: Segment (CTS) — Maintain current HALEU capability by winning the 16-machine operations contract or extending the current contract. | | | | Achieved Target: • Won the HALEU Operations contract. | | | | Overall Goal 2 performance: 100% of target (weighted average: 25%) | | |
| CTS — Measurable steps toward deployment of additional enrichment capacity through finalization of teaming arrangements and responding to any government funding opportunities. | | | | Partially Achieved Target | | | |||||||||
| LEU segment — Make an additional purchase of supply. | | | | Exceeded Target: • Secured two additional sources of supply | | |
| | Goal | | | | Targets | | | | Achievement Versus Target | | | | Score for Goal Category | | |
| | 3. Achieve financial goals and maintain corporate structure (Weight = 40%) | | | | Achieve revenue of $290 MM and end of year cash balance of $190 MM (excluding capital raise and balance sheet initiatives). | | | | Exceeded Target: • Achieved revenue of $293.8 MM. • Achieved end of year cash balance of $212 MM (includes restricted cash). | | | | Overall Goal 2 performance: 80% of target (weighted average: 41%) | | |
| Meet the 2022 net income goal of $65 MM (excluding pension benefit annual evaluation) as specified in the final 2022 budget. | | | | Exceeded Target: • Achieved adjusted net income of $86.3 MM (excludes loss recognized for HALEU Phase 1 of operations contract, additional increase in budget for advanced technology of gain on benefit plans revaluation, and unbudgeted tax provision). | | | |||||||||
| Achieve 2022 SG&A target (excluding capital restructuring costs). SG&A target is $33.5 MM. | | | | Partially Achieved at 70% Level: • 2022 results of $33.9 MM. | | |
Name and Principal Position | | Fiscal Year | | Salary(1)(6) | | Bonus | | Stock Awards(2) | | Option Awards | | Non-Equity Incentive Plan Compensation(3) | | Change in Pension Value and Non- Qualified Deferred Compensation Earnings(4) | | All Other Compensation(5) | | Total | | | Fiscal Year | | Salary(1)(6) | | Bonus | | Stock Awards(2) | | Option Awards | | Non-Equity Incentive Plan Compensation(3) | | Change in Pension Value and Non- Qualified Deferred Compensation Earnings(4) | | All Other Compensation(5) | | Total | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Daniel B. Poneman President and CEO | | | | | 2022 | | | | $ | 750,000 | | | | | — | | | | $ | 249,987 | | | | | — | | | | $ | 957,375 | | | | | — | | | | $ | 96,514 | | | | $ | 2,053,876 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 2021 | | | | $ | 750,000 | | | | | — | | | | $ | 250,017 | | | | | — | | | | $ | 1,019,938 | | | | | — | | | | $ | 77,334 | | | | $ | 2,097,289 | | | | | | 2021 | | | | $ | 750,000 | | | | | — | | | | $ | 250,017 | | | | | — | | | | $ | 1,019,938 | | | | | — | | | | $ | 77,334 | | | | $ | 2,097,289 | | | ||||||||||||||||||
| | | 2020 | | | | $ | 750,000 | | | | | — | | | | $ | 285,941 | | | | | — | | | | $ | 1,027,575 | | | | | — | | | | $ | 76,001 | | | | $ | 2,139,517 | | | | | | 2020 | | | | $ | 750,000 | | | | | — | | | | $ | 285,941 | | | | | — | | | | $ | 1,027,575 | | | | | — | | | | $ | 76,001 | | | | $ | 2,139,517 | | | |||||||||||||||||||
Philip O. Strawbridge Senior Vice President, Chief Financial Officer, Chief Administrative Officer and Treasurer | | | | | 2021 | | | | $ | 575,000 | | | | | — | | | | | — | | | | | — | | | | $ | 727,950 | | | | | — | | | | $ | 42,256 | | | | $ | 1,345,206 | | | | | | | 2022 | | | | $ | 607,192 | | | | | — | | | | | — | | | | | — | | | | $ | 980,685 | | | | | — | | | | $ | 58,523 | | | | $ | 1,656,400 | | | ||||||||||||||||
| | | 2020 | | | | $ | 575,000 | | | | | — | | | | | — | | | | | — | | | | $ | 524,239 | | | | | — | | | | $ | 39,949 | | | | $ | 1,139,188 | | | | | | 2021 | | | | $ | 575,000 | | | | | — | | | | | — | | | | | — | | | | $ | 727,950 | | | | | — | | | | $ | 42,256 | | | | $ | 1,345,206 | | | |||||||||||||||||||
Philip O. Strawbridge Senior Vice President, Chief Financial Officer, Chief Administrative Officer and Treasurer | | | | 2020 | | | | $ | 575,000 | | | | | — | | | | | — | | | | | — | | | | $ | 524,239 | | | | | — | | | | $ | 39,949 | | | | $ | 1,139,188 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 2021 | | | | $ | 355,865 | | | | | — | | | | $ | 118,636 | | | | | — | | | | $ | 311,246 | | | | | — | | | | $ | 27,194 | | | | $ | 812,941 | | | | | | | 2022 | | | | $ | 355,865 | | | | | — | | | | $ | 118,624 | | | | | — | | | | $ | 272,557 | | | | | — | | | | $ | 39,411 | | | | $ | 786,457 | | | |||||||||||||||||
| | | 2020 | | | | $ | 355,865 | | | | | — | | | | $ | 135,674 | | | | | | | | | $ | 322,399 | | | | $ | 323,804 | | | | $ | 26,240 | | | | $ | 1,174,162 | | | | | | 2021 | | | | $ | 355,865 | | | | | — | | | | $ | 118,636 | | | | | — | | | | $ | 311,246 | | | | | — | | | | $ | 27,194 | | | | $ | 812,941 | | | |||||||||||||||||||
John M.A. Donelson Senior Vice President, Sales & Chief Marketing Officer | | | | 2020 | | | | $ | 355,865 | | | | | — | | | | $ | 135,674 | | | | | — | | | | $ | 322,399 | | | | $ | 323,804 | | | | $ | 26,240 | | | | $ | 1,163,982 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2022 | | | | $ | 290,000 | | | | | — | | | | $ | 96,652 | | | | | — | | | | $ | 257,520 | | | | | — | | | | $ | 41,266 | | | | $ | 685,438 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2022 | | | | $ | 320,000 | | | | | — | | | | $ | 106,661 | | | | | — | | | | $ | 326,784 | | | | | — | | | | $ | 42,409 | | | | $ | 795,855 | | |
| | | | | | | | | Estimated future payouts under non-equity incentive plan awards | | | Estimated future payouts under equity incentive plan awards | | | All other stock awards: Number of shares of stock or units (#) | | | All other option awards: Number of securities underlying options (#) | | | Exercise or base price of option awards ($/Sh) | | | Grant date fair value of stock and option awards(1) | | ||||||||||||||||||||||||||||||||||||||||||
Name and Principle Position | | | Grant Dates | | | Threshold ($) | | | Target ($) | | | Maximum ($) | | | Threshold ($) | | | Target ($) | | | Maximum ($)(2) | | |||||||||||||||||||||||||||||||||||||||||||||
Daniel B. Poneman President and CEO | | | | | 02/16/22 | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | $ | 249,987 | | | | | | 0 | | | | | | 7,418 | | | | | | 0 | | | | | | 0 | | | | | $ | 33.70 | | |
| | | 03/31/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 249,982 | | | | | | | | | | | | 5,853 | | | | | | | | | | | | | | | | | $ | 42.71 | | | ||
Philip O. Strawbridge Senior Vice President, Chief Financial Officer, Chief Administrative Officer and Treasurer | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
John M.A. Donelson Senior Vice President, Sales & Chief Marketing Officer | | | | | 02/16/22 | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | $ | 118,624 | | | | | | 0 | | | | | | 3,520 | | | | | | 0 | | | | | | 0 | | | | | $ | 33.70 | | |
| | | 03/31/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 118,606 | | | | | | | | | | | | 2,777 | | | | | | | | | | | | | | | | | $ | 42.71 | | | ||
Dennis J. Scott Senior Vice President, Chief Compliance Officer and Corporate Secretary | | | | | 02/16/22 | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | $ | 96,652 | | | | | | 0 | | | | | | 2,868 | | | | | | 0 | | | | | | 0 | | | | | $ | 33.70 | | |
| | | 03/31/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 96,653 | | | | | | | | | | | | 2,263 | | | | | | | | | | | | | | | | | $ | 42.71 | | | ||
Larry B. Cutlip Senior Vice President, Field Operations | | | | | 02/16/22 | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | $ | 106,661 | | | | | | 0 | | | | | | 3,165 | | | | | | 0 | | | | | | 0 | | | | | $ | 33.70 | | |
| | | 03/31/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 106,647 | | | | | | | | | | | | 2,497 | | | | | | | | | | | | | | | | | $ | 42.71 | | |
| | | | | | | | | | | | Options | | Stock Awards | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | | Number of Securities Underlying Unexercised Options (#) Exercisable | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | Options Exercise Price ($) | | Options Expiration Date | | Equity Incentive Plan Awards Number of Shares, Units or Other Rights That Have Not Vested (#) | | Equity Incentive Plan Award Market Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(1) | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | Exercise Price ($) | | Options Expiration Date | | Number of Shares, Units of Other Rights That Have Not Vested (#) | | Market Value of Shares or Units of Stock That Have Not Vested ($) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units of Other Rights That Have Not Vested ($) | | Equity Incentive Plan Market Value of Unearned Shares, Units of Other Rights That Have Not Vested ($)(1)(2) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Daniel B. Poneman | | | | 144,000 | | | | | — | | | | $ | 4.37 | | | | | 03/26/26 | | | | | 37,067 | | | | | 1,850,014 | | | | | | 96,000 | | | | | — | | | | $ | 4.37 | | | | | 03/26/26 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | ||||||||||||||
Philip O. Strawbridge | | | | 50,000 | | | | | — | | | | $ | 3.65 | | | | | 09/30/29 | | | | | — | | | | | — | | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||
John M.A. Donelson | | | | — | | | | | — | | | | | — | | | | | — | | | | | 17,588 | | | | | 877,817 | | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||
Dennis J. Scott | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||
Larry B. Cutlip | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||
Name and Principle Position | | | Number of shares acquired on exercise (#) | | | Value realized on exercise ($) | | | Number of shares acquired on vesting (#) | | | Value realized on vesting ($) | | ||||||||||||
Daniel B. Poneman President and CEO | | | | | 48,000 | | | | | $ | 1,523,515 | | | | | | 39,557 | | | | | $ | 1,333,071 | | |
Philip O. Strawbridge Senior Vice President, Chief Financial Officer, Chief Administrative Officer and Treasurer | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
John M.A. Donelson Senior Vice President, Sales & Chief Marketing Officer | | | | | 0 | | | | | | 0 | | | | | | 18,769 | | | | | $ | 632,515 | | |
Dennis J. Scott Senior Vice President, Chief Compliance Officer and Corporate Secretary | | | | | 0 | | | | | | 0 | | | | | | 15,295 | | | | | $ | 515,442 | | |
Larry B. Cutlip Senior Vice President, Field Operations | | | | | 0 | | | | | | 0 | | | | | | 15,295 | | | | | $ | 515,442 | | |
Name and Principle Position | | | Plan name | | | Number of years credited service (#) | | | Present value of accumulated benefit ($) | | | Payments during last fiscal year ($) | | |||||||||
Daniel B. Poneman President and CEO | | | N/A | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
Philip O. Strawbridge Senior Vice President, Chief Financial Officer, Chief Administrative Officer and Treasurer | | | N/A | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
John M.A. Donelson Senior Vice President, Sales & Chief Marketing Officer | | | Centrus Pension Plan | | | | | 27.3 | | | | | $ | 652,788 | | | | | | 0 | | |
| Pension Restoration Plan | | | | | 27.3 | | | | | $ | 1,096,304 | | | | | | 0 | | | ||
Dennis J. Scott Senior Vice President, Chief Compliance Officer and Corporate Secretary | | | Centrus Pension Plan | | | | | 28.9 | | | | | $ | 847,343 | | | | | | 0 | | |
Larry B. Cutlip Senior Vice President, Field Operations | | | Centrus Pension Plan | | | | | 41,6 | | | | | $ | 586,456 | | | | | | 0 | | |
| Enrichment Plan | | | | | 41.6 | | | | | $ | 792,518 | | | | | | 0 | | |
Name and Principle Position | | | Executive contributions in last fiscal year ($) | | | Registrant contributions in last fiscal year ($) | | | Aggregate earnings in last fiscal year ($) | | | Aggregate withdrawals/ distributions ($) | | | Aggregate balance at last fiscal year end ($) | | |||||||||||||||
Daniel B. Poneman President and CEO | | | | $ | 37,500.06 | | | | | $ | 31,150.00 | | | | | $ | (771,642) | | | | | $ | 0 | | | | | $ | 2,699,179 | | |
Philip O. Strawbridge Senior Vice President, Chief Financial Officer, Chief Administrative Officer and Treasurer | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
John M.A. Donelson Senior Vice President, Sales & Chief Marketing Officer | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
Dennis J. Scott Senior Vice President, Chief Compliance Officer and Corporate Secretary | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
Larry B. Cutlip Senior Vice President, Field Operations] | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
Name and Principle Position | | | Voluntary Termination | | | Retirement(1) | | | Involuntary Not for Cause Termination | | | Involuntary For Cause Termination | | | Involuntary or Good Reason Termination (Change in Control) | | | Death or Disability | | ||||||||||||||||||
Daniel B. Poneman | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Severance Payments(2) | | | | $ | 1,735,954 | | | | | $ | 1,735,954 | | | | | $ | 4,735,954 | | | | | | | | | | | $ | 4,735,954 | | | | | $ | 1,735,954 | | |
Equity Awards | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Retirement Plans | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
280G Gross-up | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Continuing Benefits(3) | | | | | | | | | | | | | | | | $ | 69,032 | | | | | | | | | | | $ | 69,032 | | | | | | | | |
Philip O. Strawbridge | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Severance Payments(2) | | | | $ | 589,000 | | | | | $ | 589,000 | | | | | $ | 1,808,960 | | | | | | | | | | | $ | 3,617,920 | | | | | $ | 589,000 | | |
Equity Awards | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Retirement Plans | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
280G Gross-up | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Continuing Benefits(3) | | | | | | | | | | | | | | | | $ | 39,227 | | | | | | | | | | | $ | 78,454 | | | | | | | | |
John M.A. Donelson | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Severance Payments(2) | | | | $ | 560,396 | | | | | $ | 560,396 | | | | | $ | 1,129,780 | | | | | | | | | | | $ | 1,699,164 | | | | | $ | 560,396 | | |
Equity Awards | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Retirement Plans | | | | $ | 1,901,842 | | | | | $ | 1,901,842 | | | | | $ | 1,901,842 | | | | | $ | 1,901,842 | | | | | $ | 1,901,842 | | | | | $ | 1,048,504 | | |
280G Gross-up | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Continuing Benefits(3) | | | | | | | | | | | | | | | | $ | 35,322 | | | | | | | | | | | $ | 70,644 | | | | | | | | |
Dennis J. Scott | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Severance Payments(2) | | | | $ | 504,085 | | | | | $ | 504,085 | | | | | $ | 1,026,085 | | | | | | | | | | | $ | 1,548,085 | | | | | $ | 504,396 | | |
Equity Awards | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Retirement Plans | | | | $ | 847,343 | | | | | $ | 847,343 | | | | | $ | 847,343 | | | | | $ | 847,343 | | | | | $ | 847,343 | | | | | $ | 422,702 | | |
280G Gross-up | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Continuing Benefits(3) | | | | | | | | | | | | | | | | $ | 41,238 | | | | | | | | | | | $ | 82,477 | | | | | | | | |
Larry B. Cutlip | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Severance Payments(2) | | | | $ | 551,279 | | | | | $ | 551,279 | | | | | $ | 1,127,279 | | | | | | | | | | | $ | 1,703,279 | | | | | $ | 551,279 | | |
Equity Awards | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Retirement Plans | | | | $ | 1,378,974 | | | | | $ | 1,378,974 | | | | | $ | 1,378,974 | | | | | $ | 1,378,974 | | | | | $ | 1,378,974 | | | | | $ | 716,424 | | |
280G Gross-up | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Continuing Benefits(3) | | | | | | | | | | | | | | | | $ | 32,591 | | | | | | | | | | | $ | 65,182 | | | | | | | | |
Plan Category | | Column (a) Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights | | Column (b) for Weighted Average Exercise Price of Outstanding Options, Warrants and Rights ($) | | Column (c) Number of Securities Remaining Available for Future Issuance under Equity Compensation Plans (Excluding Securities Reflected in Column (a)) | | | Column (a) Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights | | Column (b) for Weighted Average Exercise Price of Outstanding Options, Warrants and Rights ($) | | Column (c) Number of Securities Remaining Available for Future Issuance under Equity Compensation Plans (Excluding Securities Reflected in Column (a)) | | ||||||||||||||||||||||||
Equity compensation plans approved by security holders | | | | 390,455(1) | | | | | 5.81 | | | | | 844,293(2) | | | | | | 161,519 (1) | | | | | 7.94 | | | | | 522,608(2) | | | ||||||
Equity compensation plans not approved by security holders | | | | N/A | | | | | N/A | | | | | N/A | | | | | | N/A | | | | | N/A | | | | | N/A | | | ||||||
Total | | | | 390,455 | | | | | 5.81 | | | | | 844,293 | | | | | | 161,519 | | | | | 7.94 | | | | | 522,608 | | |
Year | | | Summary Compensation Table Total for PEO ($) | | | Compensation Actually Paid to PEO ($)(1) | | | Average Summary Compensation Total from Non-PEO NEOs ($) | | | Average Compensation Actually Paid to Non-PEO NEOs ($) | | | Value of Initial Fixed $100 Investment Based on: | | | Net Income ($) | | | Company- Selected Measure(4) | | |||||||||||||||||||||||||||
| Total Stockholder Return ($)(2) | | | Peer Group Total Stockholder Return ($)(3) | | ||||||||||||||||||||||||||||||||||||||||||||
2022 | | | | $ | 2,053,876 | | | | | $ | 267,187 | | | | | $ | 978,537 | | | | | $ | 354,454 | | | | | $ | 472 | | | | | $ | 104 | | | | | $ | 52 | | | | | $ | 294 | | |
2021 | | | | $ | 2,097,289 | | | | | $ | 4,604,349 | | | | | $ | 1,079,074 | | | | | $ | 2,812,351 | | | | | $ | 725 | | | | | $ | 109 | | | | | $ | 175 | | | | | $ | 298 | | |
2020 | | | | $ | 2,139,517 | | | | | $ | 4,991,181 | | | | | $ | 1,151,585 | | | | | $ | 2,430,721 | | | | | $ | 336 | | | | | $ | 106 | | | | | $ | 54 | | | | | $ | 247 | | |
| | | 2020 | | | 2021 | | | 2022 | | |||||||||||||||||||||||||||
Adjustments | | | PEO | | | Avg. Other NEOs | | | PEO | | | Avg. Other NEOs | | | PEO | | | Avg. Other NEOs | | ||||||||||||||||||
Deduction for amounts reported in the “Stock Awards” and “Option Awards” columns in the SCT for applicable FY | | | | $ | (285,941) | | | | | $ | (67,837) | | | | | $ | (250,017) | | | | | $ | (59,318) | | | | | $ | (249,987) | | | | | $ | (80,484) | | |
Increase in fair value of awards granted during applicable FY that remain unvested as of applicable FY end, determined as of applicable FY end | | | | $ | 1,209,201 | | | | | $ | 286,873 | | | | | $ | 338,449 | | | | | $ | 80,299 | | | | | $ | 240,937 | | | | | $ | 77,570 | | |
Change in fair value of awards granted during prior FY that were outstanding and unvested as of applicable FY end, determined based on change in fair value from prior FY end to applicable FY end | | | | $ | 1,928,404 | | | | | $ | 1,222,003 | | | | | $ | 2,547,584 | | | | | $ | 1,267,891 | | | | | $ | (1,136,420) | | | | | $ | (356,017) | | |
Change in fair value of awards granted during prior FY that vested during applicable FY, determined based on change in fair value from prior FY end to vesting date | | | | $ | — | | | | | $ | — | | | | | $ | (128,956) | | | | | $ | 444,406 | | | | | $ | (641,219) | | | | | $ | (265,152) | | |
Reduction for values reported in the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” column of the SCT for applicable FY | | | | | N/A | | | | | $ | (161,902) | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
Increase for Service Cost and, if applicable, Prior Service Cost for pension plans | | | | | N/A | | | | | $ | — | | | | | | N/A | | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
Total adjustments | | | | $ | 2,851,664 | | | | | $ | 1,279,136 | | | | | $ | 2,507,060 | | | | | $ | 1,733,277 | | | | | $ | (1,786,689) | | | | | $ | (624,083) | | |
Type of Fee | | Amount Billed For Year Ended December 31, 2021 | | Amount Billed For Year Ended December 31, 2020 | | | Amount Billed For Year Ended December 31, 2022 | | Amount Billed For Year Ended December 31, 2021 | | ||||||||||||||||
| | (In thousands) | | (In thousands) | | | (In thousands) | | (In thousands) | | ||||||||||||||||
Audit Fees(1) | | | $ | 1,465 | | | | $ | 1,148 | | | | | $ | 1,571 | | | | $ | 1,465 | | | ||||
Audit-Related Fees | | | | — | | | | | — | | | | | | — | | | | | — | | | ||||
Tax Fees(2) | | | $ | 74 | | | | $ | 79 | | | | | $ | 67 | | | | $ | 74 | | | ||||
All Other Fees(3) | | | $ | 3 | | | | $ | 3 | | | | | $ | 4 | | | | $ | 3 | | | ||||
Total | | | $ | 1,542 | | | | $ | 1,230 | | | | | $ | 1,643 | | | | $ | 1542 | | |
| | | | | A-1 | | | |
| | | | | A-9 | | | |
| | | | | A-9 | | | |
| | | | | A-11 | | | |
| | | | | A-12 | | | |
| | | | | A-12 | | | |
| | | | | A-13 | | | |
| | | | | A-14 | | | |
| | | | | A-15 | | | |
| | | | | A-15 | | | |
| | | | | A-16 | | | |
| | | | | A-20 | | | |
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| | | | | A-24 | | | |
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| | | | | A-27 | | | |
| | | | | A-28 | | | |
| | | | | A-28 | | | |
| | | | | A-28 | | | |
| | | | | A-29 | | | |
| | | | | A-29 | | | |
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| | | | | A-30 | | | |
| | | | | A-30 | | | |
| | | | | A-30 | | | |
| | | | | A-31 | | | |
| | | | | A-31 | | | |
| | | | | A-31 | | | |
| | | | | A-31 | | | |
| | | | | A-32 | | | |
| | | | | A-32 | | | |
| | | | | A-32 | | |