| | Check the appropriate box: | | | ||||
| | ☐ | | | | Preliminary Proxy Statement | | |
| | ☐ | | | | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) | | |
| | ☒ | | | | Definitive Proxy Statement | | |
| | ☐ | | | | Definitive Additional Materials | | |
| | ☐ | | | | Soliciting Material under §240.14a-12 | | |
| | Payment of Filing Fee (Check the appropriate box): | | | ||||
| | ☒ | | | | No fee required. | | |
| | ☐ | | | | Fee paid previously with preliminary materials. | | |
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| | | 1007 Market Street Wilmington, Delaware 19801 | |
Dawn L. Farrell Chair of the Board | |||||
| Notice of Annual Meeting of Shareholders | | | 1007 Market Street Wilmington, Delaware 19801 | |
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| Time and Date: | | | | Place: | | | | Record date: | |
| | | | Virtual Only — No Physical Meeting Location | | | | |
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| To elect nine director nominees named in the accompanying Proxy Statement to serve one-year terms expiring at the Annual Meeting of Shareholders in 2024; | | To hold a non-binding advisory vote to approve the compensation of our named executive officers; | | To ratify the selection of PricewaterhouseCoopers LLP as our independent registered public accounting firm for fiscal year 2023; and | | To transact such other business that may properly come before the Annual Meeting or any adjournments or postponements. | | To elect nine director nominees named in the accompanying Proxy Statement to serve one- year terms expiring at the Annual Meeting of Shareholders in 2025; | | To hold a non-binding advisory vote to approve the compensation of our named executive officers; | | To ratify the selection of PricewaterhouseCoopers LLP as our independent registered public accounting firm for fiscal year 2024; and | | To transact such other business that may properly come before the Annual Meeting or any adjournments or postponements. | |
| IMPORTANT NOTICE REGARDING AVAILABILITY OF PROXY MATERIALS FOR THE VIRTUAL ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON The Notice of Internet Availability of Proxy Materials, Notice of Annual Meeting of Shareholders, Proxy Statement and Annual Report are available at www.allianceproxy.com/chemours/ | |
| PROXY SUMMARY/ANNUAL MEETING OVERVIEW | | | | | | | |
| PROPOSAL 1 — ELECTION OF DIRECTORS | | | | | | | |
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| BOARD STRUCTURE AND COMMITTEE | | | | | | | |
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| Nominating and Corporate Governance | | | | | | | |
| Environmental, Health, and Safety & Operational Performance Committee | | | | | | | |
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| Time and Date | | | | Place: | |
| 10:00 a.m. (Eastern Time) on | | | | Virtual Meeting Only — No Physical Location | |
| MANAGEMENT PROPOSALS | | | BOARD VOTE RECOMMENDATION | | | SEE PAGE | | |||
| Proposal 1 — Election of Directors | | | FOR EACH NOMINEE | | | | | | | |
| Proposal 2 — Advisory Vote on Executive Compensation | | | FOR | | | | | | | |
| Proposal 3 — Ratification of Independent Registered Public Accounting Firm | | | FOR | | | | | | |
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| | INTERNET | | | | | | | | | | | | | | | TELEPHONE | | | | | | | | DURING THE MEETING | | | |
| | Visit www.AALVote.com/CC. Have your proxy card available when you access the above website. Follow the prompts to vote your shares by Internet until 11:59 p.m., Eastern Time, on | | | | | | | | Mark, sign, and date your proxy card, then detach it, and return it in the postage-paid envelope provided. | | | | | | | | Use any touch-tone telephone to vote your proxy. Call 1 | | | | | | | | If you wish to vote your shares electronically during the virtual Annual Meeting, you will need to click on www.AALvote.com/CC during the Annual Meeting while the polls are open. You will need the control number on your Notice, or the proxy card mailed to you, as | | |
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| | | 2024 Proxy Statement | | | 3 | |
| | | 2024 Proxy Statement | | | 4 | |
| CORPORATE GOVERNANCE HIGHLIGHTS | |
| | | | | 4.5 years Average Tenure of Director Nominees | | | | 56% Of Director Nominees are Diverse with Respect to Gender or Ethnic Diversity | | | | 89% Director Nominee Independence & Independent Board Chair | | | | NEW Environmental, Health, and Safety & Operational Performance Committee | | | | | |
| SUSTAINABILITY HIGHLIGHTS | |
| Innovation and Sustainable Solutions | | | | ■ Announced the launch of our 50-50 joint venture with BWT FUMATECH Mobility GmbH to help meet demand which is critical for scaling the global hydrogen economy. | |
| Environmental Leadership | | | | ■ In 2022, we signed a commitment with the Science Based Targets Initiative (SBTi) to establish science-based targets for scopes 1, 2, and 3 GHG emissions and continued our engagement in 2023 in line with expected validation timelines. | |
| Community Impact | | | | ■ In 2023, awarded approximately $5.6 million in grants in support of our Vibrant Communities goal to improve lives by increasing access to STEM skills, safety initiatives, and sustainable environment programs within the communities where we operate. | |
| Greatest Place to Work | | | | ■ In 2023, 100% of eligible employees met the annual corporate ethics and compliance training requirement by completing the Living Integrity Code of Conduct Training. ■ 92% of our global workforce operates in areas with Great Place to Work® certification. | |
| COMPENSATION HIGHLIGHTS | |
| Pay-For-Performance | | | | ■ The 2023 AIP design was tied to our performance against financial and sustainability (previously ESG) metrics. ■ 2023 CEO Pay elements are 88% at risk and NEOs are 72% at risk. ■ CLDC-led adjustments to incentive compensation metrics for working capital timing actions, and use of full negative discretion for former executive officers. | |
| Annual Say-On-Pay | | | | ■ At Chemours’ 2023 Annual Meeting, shareholders approved the Company’s “Say-on-Pay” proposal with 96% of the votes cast in support of the executive compensation program. | |
| | | 2024 Proxy Statement | | | 5 | |
| | | 2024 Proxy Statement | | | 6 | |
| Proposal 1 — Election of Directors | |
| | | 2024 Proxy Statement | | | 7 | |
| | | 2024 Proxy Statement | | | 8 | |
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| | | | | CURTIS V. ANASTASIO | | | | ALISTER COWAN | | | | MARY B. CRANSTON | | | | | | | DAWN L. FARRELL | | | | PAMELA F. FLETCHER | | | | ERIN N. KANE | | | | SEAN D. KEOHANE | | | | NEWMAN | GUILLAUME PEPY | PHILLIPS ROGERS | ||||||||||||||||||||||||||||
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| Global Business Strategy and Management | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | ||||||||||||||||||||||||||||
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| Other Board Experience | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | ||||||||||||||||||||||||||||
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| Environmental, Health, Safety and Sustainability | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | ||||||||||||||||||||||||||||
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| CURTIS V. ANASTASIO | | | | |
| Director Since: 2015 Committee Memberships: Audit (Chair), Nominating & Corporate Governance Term of Office Expires: Age: | | | BUSINESS EXPERIENCE: ■ President, Chief Executive Officer and Executive Director of NuStar GP Holdings, LLC (2006 to 2013) ■ President, Chief Executive Officer and Executive Director of NuStar Energy, L.P. (2001 to 2013) OTHER BOARDS AND POSITIONS ■ ■ ■ Chairman, GasLog Partners LP (2014 to Reason for Nomination: Mr. Anastasio has leadership experience as both an executive officer and board member. As a former chief executive officer, he is able to provide the Board with valuable insight on global business management and financial matters which is further enhanced by his role as | |
| ALISTER COWAN | | | | |
| Director Since: 2023 Committee Memberships: Audit, Environmental, Health, and Safety & Operational Performance Term of Office Expires: 2024 Age: 59 | | | BUSINESS EXPERIENCE: ■ Senior Advisor (2023), Chief Financial Officer (2014 to 2023) of Suncor Energy Inc. ■ Chief Financial Officer of Husky Energy, Inc. (2008 to 2014) ■ Executive Vice President, Finance and Chief Financial Officer of British Columbia Hydro and Power Authority (2004 to 2008) ■ Vice President, Finance of Direct Energy Services, Inc. (2003 to 2004) ■ Vice President and Comptroller (2000 to 2003) TransAlta Corporation, Chief Financial Officer, TransAlta New Zealand Ltd. (1998 to 2000), Group Treasurer (1997 to 1998), and Director, Finance (1996 to 1997) of TransAlta Corporation OTHER BOARDS AND POSITIONS ■ Non-Executive Director of Great Canadian Oil Sands Ltd (2016) Reason for Nomination: Mr. Cowan has over 30 years of financial expertise in various companies across the globe. As a former Chief Financial Officer, he brings to the Board valuable insights and experience in financial operations, corporate development, information technology strategy and capital allocation. He also has significant experience in corporate strategy and previously led the Investment Committee at Husky Energy Inc. | |
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| | | 2024 Proxy Statement | | | 11 | |
| MARY B. CRANSTON | | | | |
| Director Since: 2015 Committee Memberships: Compensation and Leadership Development, Nominating & Corporate Governance (Chair) Term of Office Expires: Age: | | | BUSINESS EXPERIENCE: ■ Senior Partner and Chair Emeritus, Pillsbury Winthrop Shaw Pittman (2007 to 2011); OTHER BOARDS AND POSITIONS ■ TPG, Inc. (2022 to present) ■ Visa, Inc. (2007 to 2022) ■ McAfee, Inc. (2018 to 2022) ■ MyoKardia, Inc. (2016 to 2020) Reason for Nomination: Ms. Cranston has over 30 years of experience in mergers and acquisitions as a legal advisor and oversaw two large mergers while she was the | |
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| DENISE DIGNAM | | | | |
| Director Since: 2024 Committee Memberships: President & CEO Term of Office Expires: 2024 Age: 58 | | | BUSINESS EXPERIENCE: ■ President and Chief Executive Officer, The Chemours Company (2024 to present); President, Titanium Technologies (2023 to 2024); President, Advanced Performance Materials (2021 to 2023); Vice President of Global Operations, Fluoroproducts (2019 to 2023); Global Senior Business Director, Fluoropolymers (2016 to 2019); North American Business Director, Fluoropolymers (2015 to 2016) ■ Director of Global Supply Chain, Fluoroproducts, DuPont (2013 to 2014); Global Business Manager, Sulfur Products (2009 to 2013); Global Sales Manager, Clean Technologies (2007 to 2009) OTHER BOARDS AND POSITIONS ■ National Mining Association (2023 to present) ■ Kulicke & Soffa Industries (2023 to present) ■ United States Chamber of Commerce (2022 to 2023) Reason for Nomination: Ms. Dignam has been with Chemours since its launch as a publicly-traded company, proving herself as an instrumental leader of the organization. She possesses more than 35 years of experience in the chemicals industry where she has held senior roles in business and operations, sales and marketing, commercialization, and supply chain. Most recently, she led the Titanium Technologies segment, delivering significant operational savings, refocusing the portfolio, and developing process improvement for better resource utilization. | |
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DAWN | | | | | |
| Director Since: 2015 Committee Memberships: Chair of the Board Term of Office Expires: Age: | | | BUSINESS EXPERIENCE: ■ President and Chief Executive Officer, Trans Mountain Corporation (2022 to present) ■ President and Chief Executive Officer, TransAlta Corporation (2012 to 2021) ■ Chief Operating Officer, TransAlta Corporation (2009 to 2011); Executive Vice President, Commercial Operations and Development (2007 to 2009) ■ Executive Vice President of Generation, BC Hydro (2003 to 2006) OTHER BOARDS AND POSITIONS ■ Portland General Electric (“PGE”) (2022 to present) ■ Mount Royal University, Chancellor (2020 to present) ■ Canada Natural Resources, Ltd. (2021 to 2022) Reason for Nomination: Mrs. Farrell | |
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| PAMELA F. FLETCHER | | | | |
| Director Since: 2024 Committee Memberships: Compensation and Leadership Development, Nominating and Corporate Governance Term of Office Expires: 2024 Age: 57 | | | BUSINESS EXPERIENCE: ■ Senior Vice President and Chief Sustainability Officer, Delta Airlines (2022 to 2023) ■ Vice President Global Innovation (2018 to 2022) General Motors Company; Vice President Electric Vehicles (2017 to 2018); Executive Chief Engineer Autonomous and Electric Vehicles and New Technology (2012 to 2016), Chief Engineer Chevrolet Volt Propulsion System (2008 to 2011) OTHER BOARDS AND POSITIONS ■ Lumentum Holdings (2023 to present) ■ Coherent, Inc. (2017 to 2022) ■ Hughes Research Lab (2018 to 2020) Reason for Nomination: Ms. Fletcher brings a wealth of experience in the industrials space. In her role as Senior Vice President and Chief Sustainability Officer of Delta Airlines, she accelerated the company’s decarbonization efforts through a holistic approach that applied innovative sustainability gains in both the aviation fleet and ground support fleet. Her impressive 17-year career at General Motors which covered multiple leadership roles provides her with unique industry knowledge global business operations, engineering, technology and sustainability. Notably, Ms. Fletcher spearheaded the development and commercialization of electric vehicles and related technologies in her roles as Vice President Electric Vehicles and Executive Chief Engineer Electric and Autonomous Vehicles and New Technology. | |
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| ERIN N. KANE | | | | |
| Director Since: 2019 Committee Memberships: Audit, Compensation and Leadership Development, Environmental, Health, and Safety & Operational Performance Term of Office Expires: Age: | | | BUSINESS EXPERIENCE: ■ President and Chief Executive Officer, AdvanSix Inc.(2016 to present) ■ Vice President and General Manager, Resins and Chemicals, Honeywell (2014 to 2016); Business Director, Chemical Intermediates, (2011 to 2014); Global Marketing Manager, Resins and Chemicals (2008 to 2011); Global Marketing Manager, Authentication Technologies (2006 to 2008); Product Marketing Manager, Specialty Additives (2004 to 2006); Six Sigma Blackbelt, Specialty Materials (2002 to 2004) ■ Six Sigma and Process Engineering, Elementis Specialties and Kvaerner Process (prior OTHER BOARDS AND POSITIONS ■ American Chemistry Council (2017 to present) ■ American Institute of Chemical Engineers (2019 to 2021) Reason for Nomination: Ms. Kane brings an extensive background in the chemical industry and global manufacturing to the Board. In her role as Chief Executive Officer, she led the spin-off of AdvanSix | |
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| SEAN D. KEOHANE | | | | |
| Director Since: 2018 Committee Memberships: Compensation and Leadership Development (Chair), Nominating and Corporate Governance Term of Office Expires: Age: | | | BUSINESS EXPERIENCE: ■ President and Chief Executive Officer, Cabot Corporation (2016 to present) ■ ■ General Management positions, Pratt & Whitney, a division of United Technologies (prior OTHER BOARDS AND POSITIONS ■ American Chemistry Council (2016 to present) Reason for | |
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GUILLAUME PEPY | | | | | |
| Director Since: 2022 Committee Memberships: Audit, Term of Office Expires: Age: | | | BUSINESS EXPERIENCE: ■ Chairman and Chief Executive Officer, Societe Nationale SNCF SA (2008 to 2019), Chief Operating Officer ■ Deputy Chief Executive ■ Chief Strategy Officer and Investment Director, SNCF (1993 to 1995) ■ Chief of Staff to Minister of Labour, French Government (1991 to 1993), Chief of Staff to Minister of Labour (1990 to 1991) ■ Chief of Staff, SNCF (1989 to 1990) ■ Advisor to Minister of Budget, French Government (1988 to 1989) ■ Deputy General Secretary, Council of State (1984 to 1988) OTHER BOARDS AND POSITIONS ■ Chairman to Orpea Group (2022 to present) ■ Salesforce, Inc., EMEA Advisory Board (2020 to present) ■ LYDEC (Suez Morocco), Chairman (2021 to 2022) Reason for Nomination: Mr. Pepy brings a wealth of public and government sector experience to |
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| THE BOARD RECOMMENDS THAT YOU VOTE “FOR” THE ELECTION OF EACH OF THE NINE DIRECTOR NOMINEES | |
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| Spotlight: Board Evaluation in Action | |
| The Board and each committee make an annual self-evaluation of its performance with a particular focus on overall effectiveness. The Nominating and Corporate Governance Committee is responsible for overseeing the self-evaluation process. | |
| As a result of previous years’ self-evaluation processes, the Board began to explore establishing a new standing committee for environmental, health, and safety and operational performance topics in early 2023. This process led the Board to determine it was prudent to establish a new standing committee for environmental, health, and safety and operational performance topics. The formation of this committee aligns with our commitment to our values, particularly our commitment to safe and responsible operations. Historically, the full Board has provided oversight of these topics and will continue to do so. This committee structure will enhance and support the Board in oversight of these matters. | |
| | | 2024 Proxy Statement | | | 16 | |
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| ENVIRONMENTAL LEADERSHIP | |
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| | | 2024 Proxy Statement | | | 18 | |
| COMMUNITY IMPACT | |
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| GREATEST PLACE TO WORK FOR ALL | |
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| EXTERNAL | |
| FULL BOARD OF DIRECTORS | | |||||||||
| Strategy, Standards, Goals, Performance | | |||||||||
| Audit Committee Enterprise Risk Management, Cybersecurity Risk | | | Compensation and Leadership Development Committee Human Capital Management, Recruitment, Development & Retention | | | Environmental, Health, and Safety & Operational Performance EHS Protection Programs, Policies and Practices, Manufacturing Operational Performance | | | Nominating and Corporate Governance Committee Corporate Governance, ESG | |
| | To view our https://www.chemours.com/en/ | | |
| | | 2024 Proxy Statement | | | 20 | |
| | | 2024 Proxy Statement | | | 21 | |
| | | 2024 Proxy Statement | | | 22 | |
| | | 2024 Proxy Statement | | | 23 | |
| | | | AUDIT COMMITTEE | | | CLDC | | | EHS & O COMMITTEE(1) | | | NCG COMMITTEE | |
| Curtis V. Anastasio | | | C | | | | | | | | | X | |
| Alister Cowan | | | X | | | | | | X | | | | |
| Mary B. Cranston | | | | | | X | | | | | | C | |
| Pamela F. Fletcher | | | | | | X | | | | | | X | |
| Erin N. Kane | | | X | | | X | | | C | | | | |
| Sean D. Keohane | | | | | | C | | | | | | X | |
| Guillaume Pepy | | | X | | | | | | X | | | | |
| Sandra Phillips Rogers(2) | | | X | | | | | | | | | X | |
| X = Member | | | | | | C = CHAIR | |
| | | | AUDIT COMMITTEE | | | COMPENSATION AND LEADERSHIP DEVELOPMENT COMMITTEE | | | NOMINATING AND CORPORATE GOVERNANCE COMMITTEE | |
| Curtis V. Anastasio | | | C | | | | | | X | |
| Mary B. Cranston | | | | | | X | | | C | |
| Dr. Curtis J. Crawford | | | X | | | | | | | |
| Erin N. Kane | | | X | | | X | | | | |
| Sean D. Keohane | | | | | | C | | | X | |
| Guillaume Pepy | | | X | | | X | | | | |
| Sandra Phillips Rogers | | | X | | | | | | X | |
| 2022 Meetings | | | 4 | | | 8 | | | 5 | |
| X = Member | | | C = CHAIR | |
| | | 2024 Proxy Statement | | | 24 | |
| | | 2024 Proxy Statement | | | 25 | |
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| FISCAL YEAR 2022 DIRECTOR RETAINERS | | FISCAL YEAR 2023 DIRECTOR RETAINERS | | ||||||||||||
| Annual Retainer(1) | | | $ | 100,000 | | | Annual Retainer(1) | | | $ | 100,000 | | | ||
| Annual Equity Award(2) | | | $ | 145,000 | | | Annual Equity Award(2) | | | $ | 160,000 | | | ||
| Non-Executive Chairman Retainer(1) | | | $ | 150,000 | | | Non-Executive Chair Retainer(1) | | | $ | 150,000 | | | ||
| Audit Committee Chair Retainer(1) | | | $ | 22,500 | | | Audit Committee Chair Retainer(1) | | | $ | 22,500 | | | ||
| Compensation and Leadership Development Committee Chair Retainer(1) | | | $ | 17,500 | | | Compensation and Leadership Development Committee Chair Retainer(1) | | | $ | 17,500 | | | ||
| Nominating and Corporate Governance Committee Chair Retainer(1) | | | $ | 17,500 | | | Nominating and Corporate Governance Committee Chair Retainer(1) | | | $ | 17,500 | | |
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| DIRECTOR | | FEES EARNED OR PAID IN CASH ($)(1) | | EQUITY AWARDS ($)(2) | | OTHER COMPENSATION ($)(3) | | TOTAL ($) | | DIRECTOR | | FEES EARNED OR PAID IN CASH ($)(1) | | STOCK AWARDS ($)(2) | | ALL OTHER COMPENSATION ($) | | TOTAL ($) | | ||||||||||||||||||||||||||||||||
| Curtis V. Anastasio | | | | 122,500 | | | | | 144,987 | | | | | | | | | | 267,487 | | | Curtis V. Anastasio | | | | 122,500 | | | | | 159,982 | | | | | | | | | | 282,482 | | | ||||||||
| Bradley J. Bell(4) | | | | 100,000 | | | | | 144,987 | | | | | | | | | | 244,987 | | | Bradley J. Bell(4) | | | | | | | | | | | | | | | | | | | — | | | ||||||||
| Mary B. Cranston | | | | 117,500 | | | | | 144,987 | | | | | | | | | | 262,487 | | | Alister Cowan(5) | | | | 25,000 | | | | | 79,996 | | | | | | | | | | 104,996 | | | ||||||||
| Curtis J. Crawford | | | | 100,000 | | | | | 144,987 | | | | | | | | | | 244,987 | | | Mary B. Cranston | | | | 117,500 | | | | | 159,982 | | | | | | | | | | 277,482 | | | ||||||||
| Dawn L. Farrell | | | | 250,000 | | | | | 144,987 | | | | | | | | | | 394,987 | | | Curtis J. Crawford(6) | | | | 100,000 | | | | | 159,982 | | | | | | | | | | 259,482 | | | ||||||||
| Erin N. Kane | | | | 100,000 | | | | | 144,987 | | | | | | | | | | 244,987 | | | Dawn L. Farrell | | | | 250,000 | | | | | 159,982 | | | | | | | | | | 409,982 | | | ||||||||
| Sean D. Keohane | | | | 117,500 | | | | | 144,987 | | | | | | | | | | 262,487 | | | Erin N. Kane | | | | 100,000 | | | | | 159,982 | | | | | | | | | | 259,982 | | | ||||||||
| Guillaume Pepy | | | | 100,088(5) | | | | | 181,229(6) | | | | | 39,874 | | | | | 321,191 | | | Sean D. Keohane | | | | 117,500 | | | | | 159,982 | | | | | | | | | | 277,482 | | | ||||||||
| Mark P. Vergnano | | | | 50,000 | | | | | | | | | | | | | | | 50,000 | | | Guillaume Pepy | | | | 100,000 | | | | | 159,982 | | | | | 8,435(3) | | | | | 268,417 | | | ||||||||
| Sandra P. Rogers | | | | 100,000 | | | | | 144,987 | | | | | | | | | | 244,987 | | | Sandra P. Rogers | | | | 100,000 | | | | | 159,982 | | | | | | | | | | 259,982 | | |
| NAME | | | AGGREGATE OUTSTANDING AS OF DECEMBER 31, | | |||
| Curtis V. Anastasio | | | | | | | |
| Bradley J. Bell | | | | | | | |
| Alister Cowan | | | | | 2,628 | | |
| Mary B. Cranston | | | | | | | |
| Curtis J. Crawford | | | | | | | |
| Dawn L. Farrell | | | | | | | |
| Erin N. Kane | | | | | | | |
| Sean D. Keohane | | | | | | | |
| Guillaume Pepy | | | | | |||
| | |||||||
| Sandra P. Rogers | | | | | | |
| | | | | |
| NAME OF BENEFICIAL OWNER | | DIRECT(1) | | INDIRECT(2) | | RIGHT TO ACQUIRE(3) | | TOTAL | | PERCENT OF CLASS | | NAME OF BENEFICIAL OWNER | | DIRECT(1) | | INDIRECT(2) | | RIGHT TO ACQUIRE(3) | | TOTAL | | PERCENT OF CLASS | | ||||||||||||||||||||||||||||||||||||||||
| Mark E. Newman | | | | 199,024 | | | | | 34,635 | | | | | 580,274 | | | | | 813,933 | | | | | * | | | Denise Dignam | | | | 18,434 | | | | | — | | | | | 61,815 | | | | | 80,249 | | | | | * | | | ||||||||||
| Sameer Ralhan | | | | 320,749 | | | | | — | | | | | 293,169 | | | | | 613,918 | | | | | * | | | Kristine M. Wellman | | | | 19,866 | | | | | — | | | | | 47,789 | | | | | 67,655 | | | | | * | | | ||||||||||
| Edwin Sparks | | | | 83,051 | | | | | — | | | | | 74,908 | | | | | 157,959 | | | | | * | | | Alvenia Scarborough | | | | 14,823 | | | | | — | | | | | 31,754 | | | | | 46,577 | | | | | * | | | ||||||||||
| Alisha Bellezza | | | | 11,348 | | | | | — | | | | | 46,519 | | | | | 57,867 | | | | | * | | | Curtis V. Anastasio | | | | — | | | | | 3,500 | | | | | 67,697 | | | | | 71,197 | | | | | * | | | ||||||||||
| Denise Dignam | | | | 9,840 | | | | | — | | | | | 39,197 | | | | | 49,037 | | | | | * | | | Alister Cowan | | | | — | | | | | — | | | | | 2,652 | | | | | 2,652 | | | | | * | | | ||||||||||
| David C. Shelton | | | | 109,470 | | | | | 76,492 | | | | | 135,392 | | | | | 321,354 | | | | | * | | | Mary B. Cranston | | | | 2,834 | | | | | — | | | | | 71,083 | | | | | 73,917 | | | | | * | | | ||||||||||
| Curtis V. Anastasio | | | | 2,692 | | | | | 3,500 | | | | | 59,161 | | | | | 65,353 | | | | | * | | | Dawn L. Farrell | | | | 4,543 | | | | | — | | | | | 66,348 | | | | | 70,891 | | | | | * | | | ||||||||||
| Mary B. Cranston | | | | 2,834 | | | | | — | | | | | 62,410 | | | | | 65,244 | | | | | * | | | Pamela F. Fletcher | | | | — | | | | | — | | | | | — | | | | | — | | | | | * | | | ||||||||||
| Curtis J. Crawford | | | | 27,703 | | | | | 47 | | | | | 72,949 | | | | | 100,699 | | | | | * | | | Erin N. Kane | | | | — | | | | | — | | | | | 39,928 | | | | | 39,928 | | | | | * | | | ||||||||||
| Dawn L. Farrell | | | | 4,543 | | | | | — | | | | | 57,866 | | | | | 62,409 | | | | | * | | | Sean D. Keohane | | | | 5,858 | | | | | — | | | | | 33,129 | | | | | 38,987 | | | | | * | | | ||||||||||
| Erin N. Kane | | | | — | | | | | — | | | | | 32,512 | | | | | 32,512 | | | | | * | | | Guillaume Pepy | | | | — | | | | | — | | | | | 12,272 | | | | | 12,272 | | | | | * | | | ||||||||||
| Sean D. Keohane | | | | — | | | | | — | | | | | 31,794 | | | | | 31,794 | | | | | * | | | Sandra P. Rogers | | | | — | | | | | 378 | | | | | 16,213 | | | | | 16,591 | | | | | * | | | ||||||||||
| Guillaume Pepy | | | | — | | | | | — | | | | | 5,970 | | | | | 5,970 | | | | | * | | | Mark E. Newman(4) | | | | 73,044 | | | | | 168,276 | | | | | 746,997 | | | | | 988,317 | | | | | * | | | ||||||||||
| Sandra P. Rogers | | | | — | | | | | 378 | | | | | 9,752 | | | | | 10,130 | | | | | * | | | Jonathan Lock(5) | | | | 24,759 | | | | | — | | | | | 89,184 | | | | | 113,943 | | | | | * | | | ||||||||||
| Directors, nominees and executive officers as a group (17 persons) | | | | 774,105 | | | | | 38,560 | | | | | 1,635,879 | | | | | 2,448,544 | | | | | 1.63% | | | Sameer Ralhan(6) | | | | 320,749 | | | | | — | | | | | — | | | | | 320,749 | | | | | * | | | ||||||||||
| Edwin Sparks(7) | | | | — | | | | | — | | | | | — | | | | | — | | | | | * | | | |||||||||||||||||||||||||||||||||||||
| Susan Kelliher(8) | | | | 84,073 | | | | | — | | | | | 165,384 | | | | | 249,457 | | | | | * | | | |||||||||||||||||||||||||||||||||||||
| Directors, nominees and (17 persons) executive officers As a group | | | | 122,078 | | | | | 3,878 | | | | | 582,594 | | | | | 708,550 | | | | | 0.47% | | |
| | | | | |
| NAME AND ADDRESS OF BENEFICIAL OWNER | | NUMBER OF SHARES BENEFICIALLY OWNED | | PERCENT OF CLASS(5) | | NAME AND ADDRESS OF BENEFICIAL OWNER | | NUMBER OF SHARES BENEFICIALLY OWNED | | PERCENT OF CLASS(4) | | ||||||||||||||||
| BlackRock, Inc(1), 55 East 52nd Street New York, NY 10055 | | | | 18,516,903 | | | | | 12.3% | | | BlackRock, Inc(1), 50 Hudson Yards New York, NY 10001 55 East 52nd Street | | | | 16,512,174 | | | | | 11.1% | | | ||||
| The Vanguard Group(2) 100 Vanguard Blvd. Malvern, PA 19355 | | | | 18,416,153 | | | | | 12.2% | | | FMR LLC(2) New York, NY 10055 245 Summer Street Boston, MA 02210 | | | | 16,443,585 | | | | | 11.1% | | | ||||
| FMR LLC(3) 245 Summer Street Boston, MA 02210 | | | | 11,829,385 | | | | | 7.8% | | | The Vanguard Group(3) 100 Vanguard Blvd. Malvern, PA 19355 | | | | 16,028,054 | | | | | 10.8% | | |
| | | | | |
| | | | ||||||||||||||
| | | Senior Vice President, General Counsel and Corporate Secretary | | |||||||||||||
| Alvenia Scarborough | | | Senior Vice President, Corporate Communications and Chief Brand Officer | | ||||||||||||
| Susan Kelliher | | | Former Senior Vice President, People | | ||||||||||||
| Sameer Ralhan | | | Former Senior Vice President, Chief Financial Officer | | ||||||||||||
| Edwin Sparks | | | | |||||||||||||
| Mark Newman(2) | | | President and | | ||||||||||||
| Jonathan Lock(3) | | | Senior Vice | | Technologies and Chemical Solutions | and Specialized Solutions | Advanced Performance Materials | President, General Counsel and Corporate Secretary |
| 1. | | 2. | | 3. | | 4. | | 5. | | 6. | | 1. | | 2. | | 3. | | 4. | | 5. | | 6. | | ||||||||||
| Executive Summary | | Executive Compensation Philosophy and Pay-for-Performance | | Executive Compensation Decision Making | | 2022 Executive Compensation Highlights | | Company Sponsored Employee Benefits | | Other Required Disclosures | | Executive Summary | | Executive Compensation Philosophy and Pay-for- Performance | | Executive Compensation Decision Making | | 2023 Executive Compensation Highlights | | Company Sponsored Employee Benefits | | Other Compensation Matters | |
| | |
| 2018 | | | 2019 | | | 2020 | | | 2021 | | | 2022 | |
| 96% | | | 95% | | | 94% | | | 94% | | | 95% | |
| | 31 | |
Pay Scale Applied | ||
| | | | | 32 | |
| | | | | 33 | |
| | | 2024 Proxy Statement | | | 34 | |
| ELEMENT | | | PURPOSE AND KEY FEATURES | |
| Base Salary | | | ■ Salary paid in cash ■ Provides a stable source of income and is a standard element in executive compensation packages ■ Compensates for expected day-to-day contribution ■ Supports equitable pay practices | |
| Annual Incentive Plan (AIP) | | | ■ Cash incentive earned and awarded annually ■ Creates a variable incentive opportunity as a portion of the executive compensation package ■ Reinforces and rewards executives for delivering key business goals that are aligned with driving shareholder value ■ Pays only when minimum performance criteria are met, and increases payout levels with higher performance results ■ Primarily focuses on quantitative metrics but includes qualitative metrics when appropriate ■ Includes a mix of corporate and business segment metrics | |
| Long-Term Incentive Plan (LTIP) | | | ■ Long-term equity-based incentives earned and awarded periodically in various forms of equity: PSUs, PSOs, NQSOs, and/or RSUs ■ Creates a compensation opportunity aligned with the interests of our shareholders ■ Provides incentive to achieve sustained performance and growth over a long time period ■ Rewards executives for delivering total shareholder return | |
| | | 2024 Proxy Statement | | | 35 | |
| WHAT CHEMOURS DOES | | | WHAT CHEMOURS DOESN’T DO | |
| ☑ Pay-for-performance | | | ☒ Provide income tax gross-ups, other than for international assignment and / or relocation | |
| ☑ Deliver total direct compensation predominantly through performance-based pay | | | ☒ Re-price underwater stock options | |
| ☑ Set challenging short- and long-term incentive award goals | | | ☒ Allow hedging, pledging, short sales, derivative transactions, margin accounts or short-term trading | |
| ☑ Target pay and benefits to market competitive levels | | | ☒ Have a liberal share recycling provision in our equity plan | |
| ☑ Maintain robust stock ownership requirements | | | ☒ Provide single trigger change in control | |
| ☑ Maintain a | | | ☒ Offer excessive perquisites | |
| ☑ The Board and CLDC have the right to exercise negative discretion | | | | |
| ☑ Annually review the constituents of Compensation peer group and adjust as appropriate | | | | |
| ☑ Undertake an annual review of compensation risk | | | | |
| ☑ Regularly review compensation, especially performance-based compensation to ensure continued alignment with Chemours’ strategy | | | | |
| | | | | |
| | | 2024 Proxy Statement | | | 37 | |
| 2019 | | | 2020 | | | 2021 | | | 2022 | | | 2023 | |
| 95% | | | 94% | | | 94% | | | 95% | | | 96% | |
2023 AIP Results As documented in the “2023 Business Highlights”, 2023 was a challenging year for Chemours as we experienced ongoing lower demand and higher input costs in the year for multiple of our businesses. Of our three business segments, our Titanium Technologies (TT) segment faced the most challenging market environment, with an extended market downcycle and higher input costs, which led to revenues declining by 21% to $2.7 billion and a corresponding 52% reduction in Adjusted EBITDA to $290 million. Our Thermal & Specialized Solutions (TSS) business segment continued to execute well against its secular growth opportunity of low Global Warming Potential (GWP) product adoption around the world. This success is attributed in part to the regulatory frameworks promoting the use of low GWP refrigerants, foaming agents and propellants in our primary North American and European markets. Our APM business segment experienced a 20% Net Sales decline on the one hand in the Advanced Materials portfolio, which is more exposed to economically sensitive end markets, while seeing 11% Net Sales growth in our Performance Solutions portfolio, driven by increased growth in high-value end markets like clean energy and advanced electronics. Overall, the challenges our teams faced during the year in our TT and APM segments impacted our ability to achieve some AIP metrics at target. Further, the CLDC adjusted the calculation of Free Cash Flow (as defined below) for purposes of the AIP determination to take into account the working capital timing actions. The business segment results reflect the impact of the respective working capital timing actions for each particular segment. This calculation reduced the payout for incentive compensation tied to Free Cash Flow to $0 for all NEOs. As a result, the Corporate AIP achievement was 23.1%. The AIP outcome for each of the business segments reflected their business results achieving TT 46.8%, TSS 104.6%, and APM 23.1% of overall targeted AIP metrics. The business segment results reflect the impact of the respective working capital timing actions as applicable to each particular segment. | |||||
| | | | | |
| 2023 Performance Against AIP Targets with Pay Scale Applied | |
| |
| | | 2024 Proxy Statement | | | 39 | |
| | | 2024 Proxy Statement | | | 40 | |
| | | | | |
| Compensation and Leadership Development Committee | | | ■ Establish executive compensation philosophy ■ Approve incentive compensation programs and determine performance expectations for AIP and LTIP ■ ■ Recommend to the independent directors of the Board compensation actions for the CEO, including base salary, AIP targets and actual payouts, and LTIP targets, grants and earned awards | |
| All Independent Board Members | | | ■ Assess performance of the CEO ■ Approve all compensation | |
| Chief Executive Officer | | | ■ Provide compensation recommendations for ■ Make recommendations based on the CEO’s personal review of each NEO’s performance, job responsibilities, and importance to the Company’s overall business strategy, as well as the Company’s executive compensation philosophy ■ In consultation with the CFO, after receiving detailed research and recommendations from an independent compensation consultant, recommend AIP and LTIP metrics and targets to the CLDC | |
| Independent Consultant to the Compensation and Leadership Development Committee | | | ■ Provide independent advice, research, and analytical services on a variety of subjects, including compensation of executive officers and executive compensation trends ■ Lead discussions with management and the Board in determining metrics and play a significant role in determining the definition of metrics and targets ■ Participate in meetings as requested and communicate with the CLDC Chair between meetings ■ Evaluate executive compensation policies and guidelines and provide analysis compared to best practices in the industry ■ Is engaged by, and reports directly to, the CLDC | |
| | | 2024 Proxy Statement | | | 41 | |
The | |||||
| | | | | |
| Albemarle Corporation | | | | |
| Avient Corporation | | | | |
| Axalta Coating Systems Ltd. | | | | |
| Cabot Corporation | | | | |
| Celanese Corporation | | | | |
| Dupont de Nemours, Inc. | | | | |
| Eastman Chemical Company | | | Westlake | |
|
| | | | | |
| | | | 2022 | | | 2023 | |
| Base Salary | | | $1,000,000 | | | $1,000,000 | |
| Target AIP Opportunity | | | $1,300,000 (130% of salary) | | | $1,300,000 (130% of salary) | |
| Target LTI Opportunity (Grant Value) | | | $5,100,000 | | | $6,000,000 | |
| Target Total Direct Compensation | | | $7,400,000 | | | $8,300,000 | |
| | | | 2021 | | | 2022 | |
| Base Salary | | | $975,000 | | | $1,000,000 | |
| Target AIP Opportunity | | | $1,170,000 (120% of salary) | | | $1,300,000 (130% of salary) | |
| Target LTI Opportunity (Grant Value) | | | $4,300,000 | | | $5,100,000 | |
| Target Total Direct Compensation | | | $6,445,000 | | | $7,400,000 | |
| NEO | | | BASE SALARY AS OF DECEMBER 31, 2022 | | | BASE SALARY AS OF DECEMBER 31, 2023 | | ||||||
| Jonathan Lock(1) | | | | $ | 425,000 | | | | | $ | 600,000 | | |
| Denise Dignam(2) | | | | $ | 465,000 | | | | | $ | 550,000 | | |
| Kristine Wellman | | | | $ | 450,000 | | | | | $ | 500,000 | | |
| Alvenia Scarborough | | | | $ | 350,000 | | | | | $ | 350,000 | | |
| Susan Kelliher | | | | $ | 425,000 | | | | | $ | 425,000 | | |
| Sameer Ralhan(3) | | | | $ | 625,000 | | | | | $ | 625,000 | | |
| Edwin Sparks(3) | | | | $ | 575,000 | | | | | $ | 575,000 | | |
| NEO | | | BASE SALARY AS OF DECEMBER 31, 2021 | | | BASE SALARY AS OF DECEMBER 31, 2022 | | ||||||
| Sameer Ralhan | | | | $ | 625,000 | | | | | $ | 625,000 | | |
| Edwin Sparks | | | | $ | 550,000 | | | | | $ | 575,000 | | |
| Alisha Bellezza | | | | $ | 450,000 | | | | | $ | 465,000 | | |
| Denise Dignam | | | | $ | 450,000 | | | | | $ | 465,000 | | |
| David Shelton | | | | $ | 500,000 | | | | | $ | 500,000 | | |
| | | | | |
| NEO | | BONUS TARGET AS OF DECEMBER 31, 2021 | | BONUS TARGET AS OF DECEMBER 31, 2022 | | NEO | | BONUS TARGET AS OF DECEMBER 31, 2022 | | BONUS TARGET AS OF DECEMBER 31, 2023 | | ||||
| Sameer Ralhan | | 80% | | 80% | | Jonathan Lock(1) | | 50% | | 75% | | ||||
| Edwin Sparks | | 75% | | 75% | | Denise Dignam | | 75% | | 75% | | ||||
| Alisha Bellezza | | 65% | | 75% | | Kristine Wellman | | 65% | | 70% | | ||||
| Denise Dignam | | 65% | | 75% | | Alvenia Scarborough | | 50% | | 50% | | ||||
| David Shelton | | 70% | | 70% | | Susan Kelliher | | 65% | | 70% | | ||||
| Sameer Ralhan(2) | | 80% | | 80% | | ||||||||||
| Edwin Sparks(2) | | 75% | | 75% | |
| | | 2024 Proxy Statement | | | 44 | |
| CHEMOURS — AIP for Messrs. Newman, | | | WEIGHT | |
| Chemours | | | 15.0% | |
| Chemours Free Cash Flow | | | 42.5% | |
| Chemours Adjusted EBITDA | | | 42.5% | |
| TITANIUM TECHNOLOGIES — AIP for Ms. Dignam (Q2-Q4) (formerly Mr. | | | WEIGHT | |
| Chemours | | | 15.0% | |
| Chemours Free Cash Flow | | | 20.0% | |
| Business Segment Free Cash Flow | | | 20.0% | |
| Business Segment EBITDA | | | 20.0% | |
| Business Segment Market Share | | | 25.0% | |
| THERMAL AND SPECIALIZED SOLUTIONS | | | WEIGHT | |
| Chemours Sustainability | | | 15.0% | |
| Chemours Free Cash Flow | | | 20.0% | |
| Business Segment Revenue | | | 25.0% | |
| Business Segment Free Cash Flow | | | 20.0% | |
| Business Segment Adjusted EBITDA | | | 20.0% | |
| ADVANCED PERFORMANCE MATERIALS — AIP for Ms. | | | WEIGHT | |
| Chemours | | | 15.0% | |
| Chemours Free Cash Flow | | | 20.0% | |
| Business Segment Revenue | | | 25.0% | |
| Business Segment Free Cash Flow | | | 20.0% | |
| Business Segment Adjusted EBITDA | | | 20.0% | |
| | | | | |
DEFINITIONS OF METRICS: — | |||||
| | | 2024 Proxy Statement | | | 46 | |
| MEASURE | | THRESHOLD(1) | | TARGET | | MAXIMUM(2) | | ACTUAL | | WEIGHTED FUNDING RESULT | | MEASURE | | THRESHOLD(1) | | TARGET | | MAXIMUM(2) | | ACTUAL | | WEIGHTED FUNDING RESULT | | ||||||||||||||||||||||||||||||||||||||||
| Consolidated Adjusted EBITDA | | | $ | 1,177 | | | | $ | 1,421 | | | | $ | 1,674 | | | | $ | 1,361 | | | | | 40.0% | | | Consolidated Adjusted EBITDA | | | $ | 1,044 | | | | $ | 1,260 | | | | $ | 1,485 | | | | $ | 1,025 | | | | | 0.0% | | | ||||||||||
| Consolidated Free Cash Flows | | | $ | 372 | | | | $ | 539 | | | | $ | 745 | | | | $ | 441 | | | | | 31.3% | | | Consolidated Free Cash Flows | | | $ | 244 | | | | $ | 375 | | | | $ | 544 | | | | $ | 128 | | | | | 0.0% | | | ||||||||||
| ESG Metric — Y/Y Gender Diversity Increase | | | | 0.64% | | | | | 0.77% | | | | | 0.90% | | | | | 0.08% | | | | | 0.0% | | | Sustainability Metric — Y/Y Gender Diversity Increase | | | | 0.54% | | | | | 0.71% | | | | | 0.89% | | | | | 0.82% | | | | | 23.1% | | | ||||||||||
| ESG Metric — GHG Reporting Implementation (xOvertime) | | | | 18 | | | | | 21 | | | | | 41 | | | | | 21 | | | | | 7.5% | | | Sustainability Metric — GHG Reporting Implementation (xOvertime) | | | | 27 | | | | | 33 | | | | | 53 | | | | | 37 | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | 78.8% | | | Sustainability Metric — Energy Efficiency | | | | 1.8% | | | | | 2.1% | | | | | 2.9% | | | | | 2.9% | | | | | | | | ||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | 23.1% | | |
| MEASURE | | | THRESHOLD(1) | | | TARGET | | | MAXIMUM(2) | | | ACTUAL | | | WEIGHTED FUNDING RESULT | | |||||||||||||||
| Consolidated Free Cash Flows | | | | $ | 372 | | | | | $ | 539 | | | | | $ | 745 | | | | | $ | 441 | | | | | | 14.7% | | |
| ESG Metric — Y/Y Gender Diversity Increase | | | | | 0.64% | | | | | | 0.77% | | | | | | 0.90% | | | | | | 0.08% | | | | | | 0.0% | | |
| ESG Metric — GHG Reporting Implementation (xOvertime) | | | | | 18 | | | | | | 21 | | | | | | 41 | | | | | | 21 | | | | | | 7.5% | | |
| TT MNC Market Share | | | | | 32.8% | | | | | | 34.2% | | | | | | 35.6% | | | | | | 34.9% | | | | | | 37.5% | | |
| TT Adjusted EBITDA | | | | $ | 750 | | | | | $ | 906 | | | | | $ | 1,067 | | | | | $ | 601 | | | | | | 0.0% | | |
| TT Free Cash Flows | | | | $ | 587 | | | | | $ | 708 | | | | | $ | 834 | | | | | $ | 494 | | | | | | 0.0% | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 59.7% | | |
| MEASURE | | THRESHOLD(1) | | TARGET | | MAXIMUM(2) | | ACTUAL | | WEIGHTED FUNDING RESULT | | MEASURE | | THRESHOLD(1) | | TARGET | | MAXIMUM(2) | | ACTUAL | | WEIGHTED FUNDING RESULT | | ||||||||||||||||||||||||||||||||||||||||
| Consolidated Free Cash Flows | | | $ | 372 | | | | $ | 539 | | | | $ | 745 | | | | $ | 441 | | | | | 14.7% | | | Consolidated Free Cash Flows | | | $ | 244 | | | | $ | 375 | | | | $ | 544 | | | | $ | 128 | | | | | 0.0% | | | ||||||||||
| ESG Metric — Y/Y Gender Diversity Increase | | | | 0.64% | | | | | 0.77% | | | | | 0.90% | | | | | 0.08% | | | | | 0.0% | | | Sustainability Metric — Y/Y Gender Diversity Increase | | | | 0.54% | | | | | 0.71% | | | | | 0.89% | | | | | 0.82% | | | | | 23.1% | | | ||||||||||
| ESG Metric — GHG Reporting Implementation (xOvertime) | | | | 18 | | | | | 21 | | | | | 41 | | | | | 21 | | | | | 7.5% | | | Sustainability Metric — GHG Reporting Implementation (xOvertime) | | | | 27 | | | | | 33 | | | | | 53 | | | | | 37 | | | | | | | | ||||||||||
| TSS Revenue | | | $ | 1,229 | | | | $ | 1,356 | | | | $ | 1,487 | | | | $ | 1,679 | | | | | 50.0% | | | Sustainability Metric — Energy Efficiency | | | | 1.8% | | | | | 2.1% | | | | | 2.9% | | | | | 2.9 | | | | | | | | ||||||||||
| TSS Adjusted EBITDA | | | $ | 339 | | | | $ | 409 | | | | $ | 482 | | | | $ | 603 | | | | | 40.0% | | | TT MNC Market Share | | | | 32.2% | | | | | 34.2% | | | | | 36.2% | | | | | 34.0% | | | | | 23.8% | | | ||||||||||
| TSS Free Cash Flows | | | $ | 292 | | | | $ | 352 | | | | $ | 415 | | | | $ | 534 | | | | | 40.0% | | | TT Adjusted EBITDA | | | $ | 447 | | | | $ | 539 | | | | $ | 635 | | | | $ | 285 | | | | | 0.0% | | | ||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | 152.2% | | | TT Free Cash Flows | | | $ | 300 | | | | $ | 362 | | | | $ | 427 | | | | $ | 203 | | | | | 0.0% | | | ||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | 46.8% | | |
| | | | | |
| MEASURE | | | THRESHOLD(1) | | | TARGET | | | MAXIMUM(2) | | | ACTUAL | | | WEIGHTED FUNDING RESULT | | |||||||||||||||
| Consolidated Free Cash Flows | | | | $ | 244 | | | | | $ | 375 | | | | | $ | 544 | | | | | $ | 128 | | | | | | 0.0% | | |
| Sustainability Metric — Y/Y Gender Diversity Increase | | | | | 0.54% | | | | | | 0.71% | | | | | | 0.89% | | | | | | 0.82% | | | | | | 23.1% | | |
| Sustainability Metric — GHG Reporting Implementation (xOvertime) | | | | | 27 | | | | | | 33 | | | | | | 53 | | | | | | 37 | | | | | | | | |
| Sustainability Metric — Energy Efficiency | | | | | 1.8% | | | | | | 2.1% | | | | | | 2.9% | | | | | | 2.9% | | | | | | | | |
| TSS Revenue | | | | $ | 1,669 | | | | | $ | 1,840 | | | | | $ | 2,019 | | | | | $ | 1,819 | | | | | | 25.0% | | |
| TSS Adjusted EBITDA | | | | $ | 515 | | | | | $ | 621 | | | | | $ | 732 | | | | | $ | 684 | | | | | | 29.9% | | |
| TSS Free Cash Flows | | | | $ | 419 | | | | | $ | 506 | | | | | $ | 596 | | | | | $ | 545 | | | | | | 26.7% | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 104.6% | | |
| MEASURE | | THRESHOLD(1) | | TARGET | | MAXIMUM(2) | | ACTUAL | | WEIGHTED FUNDING RESULT | | MEASURE | | THRESHOLD(1) | | TARGET | | MAXIMUM(2) | | ACTUAL | | WEIGHTED FUNDING RESULT | | ||||||||||||||||||||||||||||||||||||||||
| Consolidated Free Cash Flows | | | $ | 372 | | | | $ | 539 | | | | $ | 745 | | | | $ | 441 | | | | | 14.7% | | | Consolidated Free Cash Flows | | | $ | 244 | | | | $ | 375 | | | | $ | 544 | | | | $ | 128 | | | | | 0.0% | | | ||||||||||
| ESG Metric — Y/Y Gender Diversity Increase | | | | 0.64% | | | | | 0.77% | | | | | 0.90% | | | | | 0.08% | | | | | 0.0% | | | Sustainability Metric — GHG Reporting Implementation (xOvertime) | | | | 0.54% | | | | | 0.71% | | | | | 0.89% | | | | | 0.82% | | | | | 23.1% | | | ||||||||||
| ESG Metric — GHG Reporting Implementation (xOvertime) | | | | 18 | | | | | 21 | | | | | 41 | | | | | 21 | | | | | 7.5% | | | Sustainability Metric — XOT Implementation | | | | 27 | | | | | 33 | | | | | 53 | | | | | 37 | | | | | | | | ||||||||||
| APM Revenue | | | $ | 1,322 | | | | $ | 1,458 | | | | $ | 1,599 | | | | $ | 1,618 | | | | | 50.0% | | | Sustainability Metric — Energy Efficiency | | | | 1.8% | | | | | 2.1% | | | | | 2.9% | | | | | 2.9% | | | | | | | | ||||||||||
| APM Adjusted EBITDA | | | $ | 259 | | | | $ | 313 | | | | $ | 369 | | | | $ | 367 | | | | | 39.0% | | | APM Revenue | | | $ | 1,505 | | | | $ | 1,660 | | | | $ | 1,821 | | | | $ | 1,443 | | | | | 0.0% | | | ||||||||||
| APM Free Cash Flows | | | $ | 128 | | | | $ | 155 | | | | $ | 182 | | | | $ | 141 | | | | | 15.8% | | | APM Adjusted EBITDA | | | $ | 296 | | | | $ | 357 | | | | $ | 421 | | | | $ | 270 | | | | | 0.0% | | | ||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | 127.0% | | | APM Free Cash Flows | | | $ | 144 | | | | $ | 174 | | | | $ | 205 | | | | $ | 74 | | | | | 0.0% | | | ||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | 23.1% | | |
| | | 2024 Proxy Statement | | | 48 | |
| NEO | | BONUS TARGET AS OF DECEMBER 31, 2022 | | BASE SALARY AS OF DECEMBER 31, 2022 | | ACTUAL ANNUAL INCENTIVE | | NEO | | BONUS TARGET AS OF DECEMBER 31, 2023 | | BASE SALARY AS OF DECEMBER 31, 2023 | | ACTUAL ANNUAL INCENTIVE PAYOUT(3) | | ||||||||||||||||||||||||
| Mark Newman | | | | 130% | | | | $ | 1,000,000 | | | | $ | 1,024,400 | | | Mark Newman(4) | | | | 130% | | | | $ | 1,000,000 | | | | $ | 0 | | | ||||||
| Sameer Ralhan | | | | 80% | | | | $ | 625,000 | | | | $ | 394,000 | | | Jonathan Lock(1)(4) | | | | 75% | | | | $ | 600,000 | | | | $ | 0 | | | ||||||
| Edwin Sparks | | | | 75% | | | | $ | 575,000 | | | | $ | 257,456 | | | Denise Dignam(2) | | | | 75% | | | | $ | 550,000 | | | | $ | 166,808 | | | ||||||
| Alisha Bellezza | | | | 75% | | | | $ | 465,000 | | | | $ | 530,798 | | | Kristine Wellman | | | | 70% | | | | $ | 500,000 | | | | $ | 80,850 | | | ||||||
| Denise Dignam | | | | 75% | | | | $ | 465,000 | | | | $ | 442,913 | | | Alvenia Scarborough | | | | 50% | | | | $ | 350,000 | | | | $ | 40,425 | | | ||||||
| David Shelton | | | | 70% | | | | $ | 500,000 | | | | $ | 275,800 | | | Susan Kelliher | | | | 70% | | | | $ | 425,000 | | | | $ | 68,723 | | |
| NEO | | LONG TERM INCENTIVE TARGET AS OF DECEMBER 31, 2021 | | LONG TERM INCENTIVE TARGET AS OF DECEMBER 31, 2022 | | NEO | | LONG TERM INCENTIVE TARGET AS OF DECEMBER 31, 2022 | | LONG TERM INCENTIVE TARGET AS OF DECEMBER 31, 2023 | | ||||||||||||||||
| Sameer Ralhan | | | $ | 1,200,000 | | | | $ | 1,625,000 | | | Jonathan Lock(1) | | | $ | 425,000 | | | | $ | 1,000,000 | | | ||||
| Edwin Sparks | | | $ | 900,000 | | | | $ | 1,100,000 | | | Denise Dignam(2) | | | $ | 550,000 | | | | $ | 950,000 | | | ||||
| Alisha Bellezza | | | $ | 400,000 | | | | $ | 550,000 | | | Kristine Wellman(3) | | | $ | 600,000 | | | | $ | 850,000 | | | ||||
| Denise Dignam | | | $ | 450,000 | | | | $ | 550,000 | | | Alvenia Scarborough | | | $ | 325,000 | | | | $ | 325,000 | | | ||||
| David Shelton | | | $ | 950,000 | | | | $ | 950,000 | | | Susan Kelliher | | | $ | 700,000 | | | | $ | 700,000 | | | ||||
| Sameer Ralhan(4) | | | $ | 1,625,000 | | | | $ | 1,725,000 | | | ||||||||||||||||
| Edwin Sparks(4) | | | $ | 1,100,000 | | | | $ | 1,100,000 | | |
| | | | | |
| ADJUSTED NET INCOME | | | | | | FREE CASH FLOW CONVERSION | | | | |
| PERIOD | | | WEIGHTING | | | PERIOD | | | WEIGHTING | |
| Cumulative FY2022 – FY2024 | | | 50% | | | Average FY2022 – FY2024 | | | 50% | |
|
| | | 2024 Proxy Statement | | | 50 | |
| TSR MODIFIER | | | <P25 | | | >=P25 TO <P40 | | | >=P40 TO <P60 | | | >=P60 TO <=P75 | | | >P75 | |
| Relative TSR to Peer Group | | | 0.5 | | | 0.75 | | | 1 | | | 1.25 | | | 1.5 | |
|
| | | | THRESHOLD | | | TARGET | | | MAXIMUM | |
| Achieved rTSR | | | 15th Percentile | | | 50th Percentile | | | 85th Percentile | |
| Payout | | | 50% | | | 100% | | | 200% | |
| NEO | | | 2022 TARGET LTI AWARD VALUE | | | SHARE EQUIVALENT VALUE OF TARGET PSUS ON GRANT DATE | | | TARGET NUMBER OF PSU AWARDS(1) | | | GRANT DATE FAIR VALUE OF RSUS | | | NUMBER OF RSUS GRANTED | | | GRANT DATE FAIR VALUE OF STOCK OPTIONS | | | NUMBER OF STOCK OPTIONS GRANTED(2) | | |||||||||||||||||||||
| Mark Newman | | | | $ | 5,100,000 | | | | | $ | 2,549,989 | | | | | | 98,152 | | | | | $ | 509,987 | | | | | | 19,630 | | | | | $ | 2,039,991 | | | | | | 206,268 | | |
| Sameer Ralhan | | | | $ | 1,625,000 | | | | | $ | 812,499 | | | | | | 31,274 | | | | | $ | 162,479 | | | | | | 6,254 | | | | | $ | 649,991 | | | | | | 65,722 | | |
| Edwin Sparks | | | | $ | 1,100,000 | | | | | $ | 549,997 | | | | | | 21,170 | | | | | $ | 109,999 | | | | | | 4,234 | | | | | $ | 439,996 | | | | | | 44,489 | | |
| Alisha Bellezza(3) | | | | $ | 550,000 | | | | | $ | 274,998 | | | | | | 10,585 | | | | | $ | 554,985 | | | | | | 21,362 | | | | | $ | 219,993 | | | | | | 22,244 | | |
| Denise Dignam | | | | $ | 550,000 | | | | | $ | 274,998 | | | | | | 10,585 | | | | | $ | 55,000 | | | | | | 2,117 | | | | | $ | 219,993 | | | | | | 22,244 | | |
| David Shelton | | | | $ | 950,000 | | | | | $ | 474,992 | | | | | | 18,283 | | | | | $ | 94,983 | | | | | | 3,656 | | | | | $ | 379,994 | | | | | | 38,422 | | |
| NEO | | | 2023 TARGET LTI AWARD | | | SHARE EQUIVALENT VALUE OF TARGET PSUS ON GRANT DATE | | | TARGET NUMBER OF PSU AWARDS(1) | | | GRANT DATE FAIR VALUE OF RSUS | | | NUMBER OF RSUS GRANTED(1) | | | GRANT DATE FAIR VALUE OF STOCK OPTIONS | | | NUMBER OF STOCK OPTIONS GRANTED(2) | | | GRANT DATE FAIR VALUE OF PSOS | | | NUMBER OF PSOS GRANTED(3) | | |||||||||||||||||||||||||||
| Mark Newman | | | | $ | 6,000,000 | | | | | $ | 1,499,967 | | | | | | 43,053 | | | | | $ | 1,499,967 | | | | | | 43,053 | | | | | $ | 1,499,996 | | | | | | 97,656 | | | | | $ | 1,499,994 | | | | | | 100,200 | | |
| Jonathan Lock August 1(4) | | | | $ | 425,000 | | | | | $ | 106,227 | | | | | | 3,049 | | | | | $ | 106,227 | | | | | | 3,049 | | | | | $ | 106,245 | | | | | | 6,917 | | | | | $ | 106,242 | | | | | | 7,097 | | |
| | $ | 340,000 | | | | | | | | | | | | | | | | | $ | 339,997 | | | | | | 9,224 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| Denise Dignam(5) August 1(4) | | | | $ | 1,325,000 | | | | | $ | 206,218 | | | | | | 5,919 | | | | | $ | 706,207 | | | | | | 20,270 | | | | | $ | 206,239 | | | | | | 13,427 | | | | | $ | 206,242 | | | | | | 13,777 | | |
| | $ | 100,000 | | | | | | | | | | | | | | | | | $ | 99,964 | | | | | | 2,712 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| Kristine Wellman August 1(4) | | | | $ | 650,000 | | | | | $ | 162,494 | | | | | | 4,664 | | | | | $ | 162,494 | | | | | | 4,664 | | | | | $ | 162,493 | | | | | | 10,579 | | | | | $ | 162,499 | | | | | | 10,855 | | |
| | $ | 120,000 | | | | | | | | | | | | | | | | | $ | 119,979 | | | | | | 3,255 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| Alvenia Scarborough August 1(6) | | | | $ | 325,000 | | | | | $ | 81,247 | | | | | | 2,332 | | | | | $ | 81,247 | | | | | | 2,332 | | | | | $ | 81,239 | | | | | | 5,289 | | | | | $ | 81,242 | | | | | | 5,427 | | |
| | $ | 250,000 | | | | | | | | | | | | | | | | | $ | 249,985 | | | | | | 6,782 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| Susan Kelliher | | | | $ | 700,000 | | | | | $ | 174,966 | | | | | | 5,022 | | | | | $ | 174,966 | | | | | | 5,022 | | | | | $ | 174,996 | | | | | | 11,393 | | | | | $ | 174,999 | | | | | | 11,690 | | |
| Sameer Ralhan | | | | $ | 1,725,000 | | | | | $ | 431,250 | | | | | | 12,378 | | | | | $ | 431,250 | | | | | | 12,378 | | | | | $ | 431,247 | | | | | | 28,076 | | | | | $ | 431,241 | | | | | | 28,807 | | |
| Edwin Sparks | | | | $ | 1,100,000 | | | | | $ | 274,992 | | | | | | 7,893 | | | | | $ | 274,992 | | | | | | 7,893 | | | | | $ | 274,990 | | | | | | 17,903 | | | | | $ | 274,999 | | | | | | 18,370 | | |
| | | 2024 Proxy Statement | | | 51 | |
| METRIC | | | METRIC WEIGHT | | | 2020 ACTUAL | | | 2021 ACTUAL | | | 2022 ACTUAL | | | CUMULATIVE | | | % ATTAINMENT | | | ACHIEVEMENT WITH PAY CURVE APPLIED | | ||||||||||||||||||
| Adj. Net Income | | | | | 50% | | | | | | 329 | | | | | | 691 | | | | | | 812 | | | | | | 1,832 | | | | 85% | | | | | 43% | | |
| FCF Conversion | | | | | 50% | | | | | | 61.4% | | | | | | 51.2% | | | | | | 31.8% | | | | | | 46.0% | | | | 200% | | | | | 100% | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Weighted Outcome | | | | | 143% | | |
| METRIC | | | METRIC WEIGHT | | | 2021 ACTUAL | | | 2022 ACTUAL | | | 2023 ACTUAL | | | CUMULATIVE | | | % ATTAINMENT | | | ACHIEVEMENT WITH PAY CURVE APPLIED | | ||||||||||||||||||
| Adj. Net Income | | | | | 50% | | | | | | 691 | | | | | | 788 | | | | | | 490 | | | | | | 1,969 | | | | 149% | | | | | 74% | | |
| FCF Conversion | | | | | 50% | | | | | | 50.7% | | | | | | 21.7% | | | | | | 15.5% | | | | | | 29.9% | | | | 0% | | | | | 0% | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Weighted Outcome | | | | | 74% | | |
| <P25 | | >=P25 TO <P40 | | >=P40 TO <P60 | | >=P60 TO <=P75 | | >P75 | | ACHIEVEMENT | | <P25 | | >=P25 TO <P40 | | >=P40 TO <P60 | | >=P60 TO <=P75 | | >P75 | | ACHIEVEMENT | | ||||||||||
| 0.5 | | 0.75 | | 1 | | 1.25 | | 1.5 | | 150% | | 0.5 | | 0.75 | | 1 | | 1.25 | | 1.5 | | 150% | | ||||||||||
|
| | | 2024 Proxy Statement | | | 52 | |
| | | | | | | | |
| Albemarle | | | Eastman Chemical Co. | | | The Sherwin-Williams | |
| Air Product Inc. | | | Element Solutions Co. | | | Trinseo S.A. | |
| Ashland Global Holdings Inc. | | | Huntsman | | | | |
| Avient | | | Olin | | | | |
| Axalta Coating Systems Ltd | | | PPG Industries Inc. | | | | |
| Cabot | | | RPM International Co. | | | | |
| Celanese | | | | | | | |
| NEO(1) | | SHARED GRANTED IN 2020 | | ACHIEVEMENT | | EARNED SHARE AWARD | | NEO(1)(2) | | TARGET SHARED IN 2021 | | ACHIEVEMENT | | EARNED SHARE AWARD | | ||||||
| Mark Newman | | 62,370 | | 214% | | 147,540 | | Mark Newman(3) | | 50,976 | | 93% | | 0 | | ||||||
| Sameer Ralhan | | 41,580 | | 214% | | 98,360 | | Jonathan Lock(3) | | 10,412 | | 93% | | 0 | | ||||||
| Edwin Sparks | | 33,264 | | 214% | | 78,688 | | Denise Dignam | | 9,371 | | 93% | | 9,496 | | ||||||
| David Shelton | | 39,501 | | 214% | | 93,442 | | Alvenia Scarborough | | 5,206 | | 93% | | 5,276 | | ||||||
| Susan Kelliher | | 14,577 | | 93% | | 14,772 | |
| | | | | |
| | | | | |
| MULTIPLE OF BASE SALARY | | | | ||||
| CEO | | | | | 5.0x | | |
| Other NEOs | | | | | 3.0x | | |
|
| | | | | |
| | | | | |
| NAME AND PRINCIPAL POSITION | | YEAR | | SALARY ($) | | BONUS ($) | | STOCK AWARDS ($)(1)(2) | | OPTION AWARDS ($)(3) | | NON-EQUITY INCENTIVE PLAN COMPENSATION ($)(4) | | CHANGE IN PENSION VALUE AND NONQUALIFIED AND DEFERRED COMPENSATION EARNINGS ($) | | ALL OTHER COMPENSATION ($)(5) | | TOTAL ($) | | NAME AND PRINCIPAL POSITION | | YEAR | | SALARY ($) | | BONUS ($) | | STOCK AWARDS ($)(1)(2) | | OPTION AWARDS ($)(3) | | NON-EQUITY INCENTIVE PLAN COMPENSATION ($)(4) | | ALL OTHER COMPENSATION ($)(5) | | TOTAL ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mark Newman President and Chief Executive Officer | | | | | 2022 | | | | | 995,833 | | | | | | | 3,464,363 | | | | | 2,039,991 | | | | | 1,024,400 | | | | | — | | | | | 145,764 | | | | | 7,670,351 | | | Mark Newman President and Chief Executive Officer | | | | | 2023 | | | | | 1,000,000 | | | | | | | 3,249,640 | | | | | 2,999,990 | | | | | 0 | | | | | 85,800 | | | | | 7,335,430 | | | |||||||||||||||
| | | 2021 | | | | | 837,500 | | | | | | | 1,879,997 | | | | | 1,159,987 | | | | | 1,611,000 | | | | | 168,559 | | | | | 49,185 | | | | | 5,706,228 | | | | | | 2022 | | | | | 995,833 | | | | | | | 3,464,363 | | | | | 2,039,991 | | | | | 1,024,400 | | | | | 145,764 | | | | | 7,670,351 | | | ||||||||||||||||||||
| | | 2020 | | | | | 678,462 | | | | | | | 1,069,022 | | | | | 599,997 | | | | | 557,298 | | | | | 93,426 | | | | | 90,691 | | | | | 3,088,896 | | | | | | 2021 | | | | | 837,500 | | | | | | | 1,879,997 | | | | | 1,159,987 | | | | | 1,611,000 | | | | | 49,185 | | | | | 5,537,669 | | | ||||||||||||||||||||
| Sameer Ralhan Senior Vice President, Chief Financial Officer | | | | | 2022 | | | | | 625,000 | | | | | | | 1,103,826 | | | | | 649,991 | | | | | 394,000 | | | | | — | | | | | 67,940 | | | | | 2,840,757 | | | Jonathan Lock Senior Vice President, Chief Financial Officer | | | | 2023 | | | | | 527,083 | | | | | | | 570,135 | | | | | 212,487 | | | | | 0 | | | | | 50,172 | | | | | 1,359,878 | | | ||||||||||||||||
| | | 2021 | | | | | 616,667 | | | | | | | 786,684 | | | | | 479,993 | | | | | 895,000 | | | | | 96,908 | | | | | 38,400 | | | | | 2,913,652 | | | Denise Dignam President, Titanium Technologies | | | | | 2023 | | | | | 531,667 | | | | | | | 1,046,719 | | | | | 412,480 | | | | | 166,808 | | | | | 75,059 | | | | | 2,232,733 | | | ||||||||||||||||||
| | | 2020 | | | | | 575,000 | | | | | | | 1,712,679 | | | | | 399,997 | | | | | 406,916 | | | | | 55,937 | | | | | 48,740 | | | | | 3,199,269 | | | | | | 2022 | | | | | 462,500 | | | | | | | 373,608 | | | | | 219,993 | | | | | 442,913 | | | | | 71,650 | | | | | 1,570,664 | | | ||||||||||||||||||||
| Edwin Sparks President, Chemical Solutions and Titanium Technologies | | | | | 2022 | | | | | 570,833 | | | | | | | 747,216 | | | | | 439,996 | | | | | 257,456 | | | | | — | | | | | 77,659 | | | | | 2,093,160 | | | Kristine Wellman Senior Vice President, General Counsel and Corporate Secretary | | | | 2023 | | | | | 491,667 | | | | | | | 472,018 | | | | | 324,993 | | | | | 80,850 | | | | | 45,367 | | | | | 1,414,895 | | | ||||||||||||||||
| | | 2021 | | | | | 546,058 | | | | | | | 590,026 | | | | | 359,992 | | | | | 734,250 | | | | | 30,483 | | | | | 41,521 | | | | | 2,302,329 | | | Alvenia Scarborough Senior Vice President, Corporate Communications, Chief Brand Officer | | | | 2023 | | | | | 350,000 | | | | | | | 426,004 | | | | | 162,481 | | | | | 40,425 | | | | | 36,425 | | | | | 1,015,335 | | | |||||||||||||||||||
| | | 2020 | | | | | 537,500 | | | | | | | 2,070,143 | | | | | 319,998 | | | | | 327,938 | | | | | 25,984 | | | | | 56,980 | | | | | 3,338,542 | | | Susan Kelliher Senior Vice President, People (January – September) | | | | | 2023 | | | | | 425,000 | | | | | | | 379,061 | | | | | 349,996 | | | | | 68,723 | | | | | 58,685 | | | | | 1,281,464 | | | ||||||||||||||||||
| Alisha Bellezza President, Thermal & Specialized Solutions | | | | | 2022 | | | | | 462,500 | | | | | | | 873,593 | | | | | 219,993 | | | | | 530,798 | | | | | — | | | | | 74,398 | | | | | 2,161,282 | | | | | | 2022 | | | | | 425,000 | | | | | | | 475,467 | | | | | 279,996 | | | | | 217,685 | | | | | 58,191 | | | | | 1,456,339 | | | |||||||||||||||||
| | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | �� | | | | | | | | | | | | | 2021 | | | | | 425,000 | | | | | | | 458,904 | | | | | 279,992 | | | | | 494,488 | | | | | 36,233 | | | | | 1,694,617 | | | ||||||||||||||||||||
| | | 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Sameer Ralhan Senior Vice President, Chief Financial Officer (January – June) | | | | | 2023 | | | | | 323,649 | | | | | | | 934,291 | | | | | 862,488 | | | | | — | | | | | 39,522 | | | | | 2,159,950 | | | ||||||||||||||||||
| Denise Dignam President, Advanced Performance Materials | | | | | 2022 | | | | | 462,500 | | | | | | | 373,608 | | | | | 219,993 | | | | | 442,913 | | | | | — | | | | | 71,650 | | | | | 1,570,664 | | | | | | 2022 | | | | | 625,000 | | | | | | | 1,103,826 | | | | | 649,991 | | | | | 394,000 | | | | | 67,940 | | | | | 2,840,757 | | | |||||||||||||||||
| | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2021 | | | | | 616,667 | | | | | | | 786,684 | | | | | 479,993 | | | | | 895,000 | | | | | 38,400 | | | | | 2,816,744 | | | ||||||||||||||||||||
| | | 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Edwin Sparks President, Chemical Solutions and Titanium Technologies (January – March) | | | | | 2023 | | | | | 164,210 | | | | | | | 595,764 | | | | | 549,989 | | | | | — | | | | | 24,675 | | | | | 1,334,638 | | | ||||||||||||||||||
| David Shelton Senior Vice President, General Counsel and Corporate Secretary (January – September) | | | | | 2022 | | | | | 500,000 | | | | | | | 645,301 | | | | | 379,994 | | | | | 275,800 | | | | | — | | | | | 69,842 | | | | | 1,870,937 | | | | | | 2022 | | | | | 570,833 | | | | | | | 747,216 | | | | | 439,996 | | | | | 257,456 | | | | | 77,659 | | | | | 2,093,161 | | | |||||||||||||||||
| | | 2021 | | | | | 500,000 | | | | | | | 1,122,778 | | | | | 379,992 | | | | | 626,500 | | | | | 142,182 | | | | | 44,400 | | | | | 2,815,852 | | | | | | 2021 | | | | | 546,058 | | | | | | | 590,026 | | | | | 359,992 | | | | | 734,250 | | | | | 41,521 | | | | | 2,271,847 | | | ||||||||||||||||||||
| | | 2020 | | | | | 498,077 | | | | | | | 677,047 | | | | | 379,999 | | | | | 309,610 | | | | | 108,889 | | | | | 60,461 | | | | | 2,034,083 | | |
| | | | | |
| NAME | | | COMPANY CONTRIBUTIONS TO QUALIFIED DEFINED CONTRIBUTION PLAN ($) | | | COMPANY CONTRIBUTION TO NONQUALIFIED DEFINED CONTRIBUTION PLAN ($) | | | FINANCIAL PLANNING/ INCOME TAX PREPARATION ($) | | |||||||||
| Mark Newman | | | | | 19,300 | | | | | | 111,464 | | | | | | 15,000 | | |
| Sameer Ralhan | | | | | 19,300 | | | | | | 39,265 | | | | | | 9,375 | | |
| Edwin Sparks | | | | | 20,300 | | | | | | 44,197 | | | | | | 13,162 | | |
| Alisha Bellezza | | | | | 19,300 | | | | | | 55,098 | | | | | | — | | |
| Denise Dignam | | | | ��� | 21,300 | | | | | | 49,825 | | | | | | 525 | | |
| David Shelton | | | | | 20,300 | | | | | | 41,548 | | | | | | 7,994 | | |
| NAME | | | COMPANY CONTRIBUTIONS TO QUALIFIED DEFINED CONTRIBUTION PLAN ($) | | | COMPANY CONTRIBUTION TO NONQUALIFIED DEFINED CONTRIBUTION PLAN ($) | | | FINANCIAL PLANNING/ INCOME TAX PREPARATION ($) | | |||||||||
| Mark Newman | | | | | 20,800 | | | | | | 50,000 | | | | | | 15,000 | | |
| Jonathan Lock | | | | | 20,800 | | | | | | 21,872 | | | | | | 7,500 | | |
| Denise Dignam | | | | | 22,800 | | | | | | 37,259 | | | | | | 15,000 | | |
| Kristine Wellman | | | | | 20,800 | | | | | | 22,227 | | | | | | 2,340 | | |
| Alvenia Scarborough | | | | | 20,800 | | | | | | 11,900 | | | | | | 3,725 | | |
| Susan Kelliher | | | | | 20,800 | | | | | | 22,885 | | | | | | 15,000 | | |
| Sameer Ralhan | | | | | 20,800 | | | | | | 11,222 | | | | | | 7,500 | | |
| Edwin Sparks | | | | | 21,800 | | | | | | 2,875 | | | | | | — | | |
| | | | | |
| | | | | | | | | | | | | | | | ESTIMATED POSSIBLE PAYOUTS UNDER NONEQUITY INCENTIVE PLAN AWARDS(1) | | ESTIMATED FUTURE PAYOUTS UNDER EQUITY INCENTIVE PLAN AWARDS(2) | | | ALL OTHER STOCK AWARDS; NUMBER OF SHARES OF STOCK OR UNITS (#) | | ALL OTHER OPTION AWARDS; NUMBER OF SECURITIES UNDERLYING OPTIONS(3) (#) | | EXERCISE OF BASE PRICE OF OPTION AWARDS ($) | | GRANT DATE FAIR VALUE OF STOCK AND OPTION AWARDS ($) | | | | | | | | | | | | | | | | | ESTIMATED POSSIBLE PAYOUTS UNDER NONEQUITY INCENTIVE PLAN AWARDS(1) | | ESTIMATED FUTURE PAYOUTS UNDER EQUITY INCENTIVE PLAN AWARDS(2) | | | ALL OTHER STOCK AWARDS NUMBER OF SHARES OR STOCK OR UNITS (#) | | ALL OTHER OPTIONS AWARDS NUMBER OF SECURITIES UNDERLYING OPTIONS(3) (#) | | EXERCISE OR BASE PRICE OF OPTION AWARDS ($) | | GRANT DATE FAIR VALUE OF STOCK AND OPTION AWARDS ($) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NAME | | TYPE OF AWARD | | GRANT DATE | | APPROVAL DATE | | THRESHOLD ($) | | TARGET ($) | | MAXIMUM ($) | | THRESHOLD (#) | | TARGET (#) | | MAXIMUM (#) | | NAME | | TYPE OF AWARD | | GRANT DATE | | APPROVAL DATE | | THRESHOLD ($) | | TARGET ($) | | MAXIMUM ($) | | THRESHOLD (#) | | TARGET (#) | | MAXIMUM (#) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mark Newman | | | 2022 AIP | | | | | | | | | | | | 650,000 | | | | 1,300,000 | | | | | 2,600,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Mark Newman | | | 2023 AIP | | | | | | | | | | | | | | 650,000 | | | | | 1,300,000 | | | | | 2,600,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||
| Stock Options | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 206,268 | | | | | 25.98 | | | | | 2,039,991 | | | | Stock Options | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 97,656 | | | | | 34.84 | | | | | 1,499,996 | | | |||||||||||||||||||||||||||||||||||
| PSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | 49,076 | | | | | 98,152 | | | | | 245,380 | | | | | | | | | | | | | | | | | | | | 2,954,375 | | | | PSO | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 100,200 | | | | | 38.32 | | | | | 1,499,994 | | | |||||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 19,630 | | | | | | | | | | | | | | | 509,987 | | | | PSU | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | 21,527 | | | | | 43,053 | | | | | 86,106 | | | | | | | | | | | | | | | | | | | | 1,749,674 | | | |||||||||||||||||||||||||||||||||||
| Sameer Ralhan | | | 2022 AIP | | | | | | | | | | | | 250,000 | | | | 500,000 | | | | | 1,000,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | RSU | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 43,053 | | | | | | | | | | | | | | | 1,499,967 | | | ||||||||||||||||||||||||||||||||
| Stock Options | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 65,722 | | | | | 25.98 | | | | | 649,991 | | | Jonathan Lock | | | 2023 AIP | | | | | | | | | | | | | | 175,874 | | | | | 351,747 | | | | | 703,494 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||
| PSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | 15,637 | | | | | 31,274 | | | | | 78,185 | | | | | | | | | | | | | | | | | | | | 941,347 | | | | Stock Options | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,917 | | | | | 34.84 | | | | | 106,245 | | | |||||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,254 | | | | | | | | | | | | | | | 162,479 | | | | PSO | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,097 | | | | | 38.32 | | | | | 106,242 | | | |||||||||||||||||||||||||||||||||||
| Edwin Sparks | | | 2022 AIP | | | | | | | | | | | | 215,625 | | | | 431,250 | | | | | 862,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | PSU | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | 1,525 | | | | | 3,049 | | | | | 6,098 | | | | | | | | | | | | | | | | | | | | 123,911 | | | ||||||||||||||||||||||||||||||||
| Stock Options | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 44,489 | | | | | 25.98 | | | | | 439,996 | | | | RSU | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,049 | | | | | | | | | | | | | | | 106,227 | | | |||||||||||||||||||||||||||||||||||
| PSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | 10,585 | | | | | 21,170 | | | | | 52,925 | | | | | | | | | | | | | | | | | | | | 637,217 | | | | RSU | | | | 8/1/23 | | | | | 7/25/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,224 | | | | | | | | | | | | | | | 339,997 | | | |||||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,234 | | | | | | | | | | | | | | | 109,999 | | | Denise Dignam | | | 2023 AIP | | | | | | | | | | | | | | 201,627 | | | | | 403,253 | | | | | 806,506 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||
| Alisha Bellezza | | | 2022 AIP | | | | | | | | | | | | 174,375 | | | | 348,750 | | | | | 697,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Stock Options | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 13,427 | | | | | 34.84 | | | | | 206,239 | | | ||||||||||||||||||||||||||||||||
| Stock Options | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 22,244 | | | | | 25.98 | | | | | 219,993 | | | | PSO | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 13,777 | | | | | 38.32 | | | | | 206,242 | | | |||||||||||||||||||||||||||||||||||
| PSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | 5,293 | | | | | 10,585 | | | | | 26,463 | | | | | | | | | | | | | | | | | | | | 318,609 | | | | PSU | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | 2,960 | | | | | 5,919 | | | | | 11,838 | | | | | | | | | | | | | | | | | | | | 240,548 | | | |||||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 21,362 | | | | | | | | | | | | | | | 554,985 | | | | RSU | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,919 | | | | | | | | | | | | | | | 206,218 | | | |||||||||||||||||||||||||||||||||||
| Denise Dignam | | | 2022 AIP | | | | | | | | | | | | 174,375 | | | | 348,750 | | | | | 697,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | RSU | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 14,351 | | | | | | | | | | | | | | | 499,989 | | | ||||||||||||||||||||||||||||||||
| Stock Options | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 22,244 | | | | | 25.98 | | | | | 219,993 | | | | RSU | | | | 8/1/23 | | | | | 7/25/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,712 | | | | | | | | | | | | | | | 99,964 | | | |||||||||||||||||||||||||||||||||||
| PSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | 5,293 | | | | | 10,585 | | | | | 26,463 | | | | | | | | | | | | | | | | | | | | 318,609 | | | Kristine Wellman | | | 2023 AIP | | | | | | | | | | | | | | 175,000 | | | | | 350,000 | | | | | 700,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,117 | | | | | | | | | | | | | | | 55,000 | | | | Stock Options | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,579 | | | | | 34.84 | | | | | 162,493 | | | |||||||||||||||||||||||||||||||||||
| David Shelton | | | 2022 AIP | | | | | | | | | | | | 175,000 | | | | 350,000 | | | | | 700,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | PSO | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,855 | | | | | 38.32 | | | | | 162,499 | | | ||||||||||||||||||||||||||||||||
| Stock Options | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 38,422 | | | | | 25.98 | | | | | 379,994 | | | | PSU | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | 2,332 | | | | | 4,664 | | | | | 9,328 | | | | | | | | | | | | | | | | | | | | 189,545 | | | |||||||||||||||||||||||||||||||||||
| PSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | 9,142 | | | | | 18,283 | | | | | 45,708 | | | | | | | | | | | | | | | | | | | | 550,318 | | | | RSU | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,664 | | | | | | | | | | | | | | | 162,494 | | | |||||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,656 | | | | | | | | | | | | | | | 94,983 | | | | RSU | | | | 8/1/23 | | | | | 7/25/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,255 | | | | | | | | | | | | | | | 119,979 | | | |||||||||||||||||||||||||||||||||||
| Alvenia Scarborough | | | 2023 AIP | | | | | | | | | | | | | | 87,500 | | | | | 175,000 | | | | | 350,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock Options | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,289 | | | | | 34.84 | | | | | 81,239 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PSO | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,427 | | | | | 38.32 | | | | | 81,242 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PSU | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | 1,166 | | | | | 2,332 | | | | | 4,664 | | | | | | | | | | | | | | | | | | | | 94,772 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/23 | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,332 | | | | | | | | | | | | | | | 81,247 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RSU | | | | 8/1/23 | | | | | 7/25/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,782 | | | | | | | | | | | | | | | 249,985 | | |
| | | 2024 Proxy Statement | | | 59 | |
| | | | | | | | | | | | | | | | | | | ESTIMATED POSSIBLE PAYOUTS UNDER NONEQUITY INCENTIVE PLAN AWARDS(1) | | | ESTIMATED FUTURE PAYOUTS UNDER EQUITY INCENTIVE PLAN AWARDS(2) | | | ALL OTHER STOCK AWARDS NUMBER OF SHARES OR STOCK OR UNITS (#) | | | ALL OTHER OPTIONS AWARDS NUMBER OF SECURITIES UNDERLYING OPTIONS(3) (#) | | | EXERCISE OR BASE PRICE OF OPTION AWARDS ($) | | | GRANT DATE FAIR VALUE OF STOCK AND OPTION AWARDS ($) | | ||||||||||||||||||||||||||||||||||||||||||
| NAME | | | TYPE OF AWARD | | | GRANT DATE | | | APPROVAL DATE | | | THRESHOLD ($) | | | TARGET ($) | | | MAXIMUM ($) | | | THRESHOLD (#) | | | TARGET (#) | | | MAXIMUM (#) | | ||||||||||||||||||||||||||||||||||||||||||||||||
| Susan Kelliher | | | 2023 AIP | | | | | | | | | | | | | | | | | 148,750 | | | | | | 297,500 | | | | | | 595,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Stock Options | | | | | 3/1/23 | | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,393 | | | | | | 34.84 | | | | | | 174,996 | | | |||
| PSO | | | | | 3/1/23 | | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,690 | | | | | | 38.32 | | | | | | 174,999 | | | |||
| PSU | | | | | 3/1/23 | | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | 2,511 | | | | | | 5,022 | | | | | | 10,044 | | | | | | | | | | | | | | | | | | | | | | | | 204,094 | | | |||
| RSU | | | | | 3/1/23 | | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,022 | | | | | | | | | | | | | | | | | | 174,966 | | | |||
| Sameer Ralhan | | | 2023 AIP | | | | | | | | | | | | | | | | | 250,000 | | | | | | 500,000 | | | | | | 1,000,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Stock Options | | | | | 3/1/23 | | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 28,076 | | | | | | 34.84 | | | | | | 431,247 | | | |||
| PSO | | | | | 3/1/23 | | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 28,807 | | | | | | 38.32 | | | | | | 431,241 | | | |||
| PSU | | | | | 3/1/23 | | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | 6,189 | | | | | | 12,378 | | | | | | 24,756 | | | | | | | | | | | | | | | | | | | | | | | | 503,042 | | | |||
| RSU | | | | | 3/1/23 | | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,378 | | | | | | | | | | | | | | | | | | 431,250 | | | |||
| Edwin Sparks | | | 2023 AIP | | | | | | | | | | | | | | | | | 215,625 | | | | | | 431,250 | | | | | | 862,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Stock Options | | | | | 3/1/23 | | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 17,903 | | | | | | 34.84 | | | | | | 274,990 | | | |||
| PSO | | | | | 3/1/23 | | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 18,370 | | | | | | 38.32 | | | | | | 274,999 | | | |||
| PSU | | | | | 3/1/23 | | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | 3,947 | | | | | | 7,893 | | | | | | 15,786 | | | | | | | | | | | | | | | | | | | | | | | | 320,772 | | | |||
| RSU | | | | | 3/1/23 | | | | | | 2/6/23 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,893 | | | | | | | | | | | | | | | | | | 274,992 | | |
| | | | | |
| | | | OPTION AWARDS | | STOCK AWARDS | | | | | OPTION AWARDS | | STOCK AWARDS | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | NUMBER OF SECURITIES UNDERLYING UNEXERCISED OPTIONS(1) | | SHARES OR UNITS OF STOCK THAT HAVE NOT VESTED(2) | | EQUITY INCENTIVE PLAN AWARDS: UNEARNED SHARES, UNITS OR OTHER RIGHTS THAT HAVE NOT VESTED(3) | | | | | NUMBER OF SECURITIES UNDERLYING UNEXERCISED OPTIONS(1) | | SHARES OR UNITS OF STOCK THAT HAVE NOT VESTED(2) | | EQUITY INCENTIVE PLAN AWARDS: UNEARNED SHARES, UNITS OR OTHER RIGHTS THAT HAVE NOT VESTED(3) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NAME | | GRANT DATE | | EXERCISABLE (#) | | UNEXERCISABLE (#) | | OPTION EXERCISE PRICE ($) | | OPTION EXPIRATION DATE | | NUMBER (#) | | MARKET VALUE ($) | | NUMBER (#) | | MARKET OR PAYOUT VALUE ($) | | NAME | | GRANT DATE | | EXERCISABLE (#) | | UNEXERCISABLE ($) | | OPTION EXERCISE PRICE ($) | | OPTION EXPIRATION DATE | | NUMBER (#) | | MARKET VALUE ($) | | NUMBER (#) | | MARKET OR PAYOUT VALUE ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mark Newman | | | 3/1/2022 | | | | — | | | | | 206,268 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 19,630 | | | | | 601,071 | | | | | 98,152 | | | | | 3,005,414 | | | Mark Newman(5) | | | 3/1/2023 | | | | — | | | | | 100,200 | | | | | 38.32 | | | | | 3/1/2033 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||
| 7/1/2021 | | | | 11,566 | | | | | 23,130 | | | | | 35.46 | | | | | 7/1/2031 | | | | | 2,632 | | | | | 80,592 | | | | | 49,350 | | | | | 1,511,097 | | | | 3/1/2023 | | | | — | | | | | 97,656 | | | | | 34.84 | | | | | 3/1/2033 | | | | | 44,066 | | | | | 1,389,852 | | | | | 44,066 | | | | | 1,389,852 | | | |||||||||||||||||||||
| 3/1/2021 | | | | 20,450 | | | | | 40,899 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 4,164 | | | | | 127,502 | | | | | 78,090 | | | | | 2,391,116 | | | | 3/1/2022 | | | | 68,756 | | | | | 137,512 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 13,880 | | | | | 437,771 | | | | | 51,828 | | | | | 1,634,658 | | | |||||||||||||||||||||
| 3/2/2020 | | | | 106,951 | | | | | 53,476 | | | | | 14.43 | | | | | 3/2/2030 | | | | | 133,472 | | | | | 4,086,907 | | | | | | | | | | | | | | 7/1/2021 | | | | 23,131 | | | | | 11,565 | | | | | 35.46 | | | | | 7/1/2031 | | | | | 1,443 | | | | | 45,526 | | | | | | | | | | | | | |||||||||||||||||||||
| 6/3/2019 | | | | 29,717 | | | | | — | | | | | 21.96 | | | | | 6/3/2029 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2021 | | | | 40,899 | | | | | 20,450 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 2,298 | | | | | 72,494 | | | | | | | | | | | | | |||||||||||||||||||||
| 3/1/2019 | | | | 36,236 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | | 3/2/2020 | | | | 160,427 | | | | | — | | | | | 14.43 | | | | | 3/2/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 3/1/2018 | | | | 23,357 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | | 6/3/2019 | | | | 29,717 | | | | | — | | | | | 21.96 | | | | | 6/3/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 3/1/2017 | | | | 31,662 | | | | | — | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2019 | | | | 36,236 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 3/1/2016 | | | | 166,089 | | | | | — | | | | | 5.40 | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2018 | | | | 23,357 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| Sameer Ralhan | | | 3/1/2022 | | | | — | | | | | 65,722 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 6,254 | | | | | 191,497 | | | | | 31,274 | | | | | 957,610 | | | | 3/1/2017 | | | | 31,662 | | | | | — | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| 3/1/2021 | | | | 16,360 | | | | | 32,719 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 3,331 | | | | | 101,995 | | | | | 62,473 | | | | | 1,912,908 | | | | 3/1/2016 | | | | 166,089 | | | | | — | | | | | 5.40 | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 12/1/2020 | | | | | | | | | | | | | | | | | | | | | | | | 39,510 | | | | | 1,209,796 | | | | | | | | | | | | | Jonathan Lock | | | 8/1/2023 | | | | | | | | | | | | | | | | | | | | | | | | 9,373 | | | | | 295,617 | | | | | | | | | | | | | |||||||||||||||||||
| 3/2/2020 | | | | 71,301 | | | | | 35,650 | | | | | 14.43 | | | | | 3/2/2030 | | | | | 88,981 | | | | | 2,724,604 | | | | | | | | | | | | | | 3/1/2023 | | | | — | | | | | 7,097 | | | | | 38.32 | | | | | 3/1/2033 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 6/3/2019 | | | | 17,830 | | | | | — | | | | | 21.96 | | | | | 6/3/2029 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2023 | | | | — | | | | | 6,917 | | | | | 34.84 | | | | | 3/1/2033 | | | | | 3,121 | | | | | 98,429 | | | | | 3,121 | | | | | 98,429 | | | |||||||||||||||||||||
| 3/1/2019 | | | | 22,299 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2022 | | | | 5,730 | | | | | 11,459 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 1,156 | | | | | 36,467 | | | | | 4,319 | | | | | 136,216 | | | |||||||||||||||||||||
| 3/1/2018 | | | | 4,866 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2021 | | | | 13,633 | | | | | 6,816 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 766 | | | | | 24,175 | | | | | | | | | | | | | |||||||||||||||||||||
| 3/1/2017 | | | | 6,596 | | | | | — | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | 3/2/2020 | | | | 22,459 | | | | | — | | | | | 14.43 | | | | | 3/2/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 4/26/2016 | | | | 80,000 | | | | | — | | | | | 9.43 | | | | | 4/26/2026 | | | | | | | | | | | | | | | | | | | | | | | | 6/3/2019 | | | | 14,858 | | | | | — | | | | | 21.96 | | | | | 6/3/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| Edwin Sparks | | | 3/1/2022 | | | | — | | | | | 44,489 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 4,234 | | | | | 129,645 | | | | | 21,170 | | | | | 648,225 | | | | 3/1/2019 | | | | 5,574 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| 3/1/2021 | | | | — | | | | | 24,539 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 2,498 | | | | | 76,489 | | | | | 46,855 | | | | | 1,434,700 | | | | 5/1/2018 | | | | 9,713 | | | | | — | | | | | 48.25 | | | | | 5/1/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 12/1/2020 | | | | | | | | | | | | | | | | | | | | | | | | 39,510 | | | | | 1,209,796 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/2/2020 | | | | — | | | | | 28,520 | | | | | 14.43 | | | | | 3/2/2030 | | | | | 105,835 | | | | | 3,240,666 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2019 | | | | 13,937 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2018 | | | | 5,352 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | OPTION AWARDS | | STOCK AWARDS | | | | | OPTION AWARDS | | STOCK AWARDS | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | NUMBER OF SECURITIES UNDERLYING UNEXERCISED OPTIONS(1) | | SHARES OR UNITS OF STOCK THAT HAVE NOT VESTED(2) | | EQUITY INCENTIVE PLAN AWARDS: UNEARNED SHARES, UNITS OR OTHER RIGHTS THAT HAVE NOT VESTED(3) | | | | | NUMBER OF SECURITIES UNDERLYING UNEXERCISED OPTIONS(1) | | SHARES OR UNITS OF STOCK THAT HAVE NOT VESTED(2) | | EQUITY INCENTIVE PLAN AWARDS: UNEARNED SHARES, UNITS OR OTHER RIGHTS THAT HAVE NOT VESTED(3) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NAME | | GRANT DATE | | EXERCISABLE (#) | | UNEXERCISABLE (#) | | OPTION EXERCISE PRICE ($) | | OPTION EXPIRATION DATE | | NUMBER (#) | | MARKET VALUE ($) | | NUMBER (#) | | MARKET OR PAYOUT VALUE ($) | | NAME | | GRANT DATE | | EXERCISABLE (#) | | UNEXERCISABLE ($) | | OPTION EXERCISE PRICE ($) | | OPTION EXPIRATION DATE | | NUMBER (#) | | MARKET VALUE ($) | | NUMBER (#) | | MARKET OR PAYOUT VALUE ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Alisha Bellezza | | | 3/1/2022 | | | | — | | | | | 22,244 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 21,362 | | | | | 654,104 | | | | | 10,585 | | | | | 324,113 | | | Denise Dignam | | | 8/1/2023 | | | | | | | | | | | | | | | | | | | | | | | | 2,756 | | | | | 86,916 | | | | | | | | | | | | | ||||||||||||||||
| 3/1/2021 | | | | — | | | | | 10,906 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 1,110 | | | | | 33,988 | | | | | 20,823 | | | | | 637,585 | | | | 3/1/2023 | | | | — | | | | | 13,777 | | | | | 38.32 | | | | | 3/1/2033 | | | | | 14,689 | | | | | 463,291 | | | | | | | | | | | | | |||||||||||||||||||||
| 9/1/2020 | | | | | | | | | | | | | | | | | | | | | | | | 4,601 | | | | | 140,883 | | | | | | | | | | | | | | 3/1/2023 | | | | — | | | | | 13,427 | | | | | 34.84 | | | | | 3/1/2033 | | | | | 6,058 | | | | | 191,069 | | | | | 6,058 | | | | | 191,079 | | | |||||||||||||||||||||
| 3/2/2020 | | | | — | | | | | 8,912 | | | | | 14.43 | | | | | 3/2/2030 | | | | | 2,310 | | | | | 70,732 | | | | | | | | | | | | | | 3/1/2022 | | | | 7,415 | | | | | 14,829 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 1,496 | | | | | 47,195 | | | | | 5,589 | | | | | 176,286 | | | |||||||||||||||||||||
| 3/1/2019 | | | | 13,937 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2021 | | | | 12,269 | | | | | 6,135 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 10,186 | | | | | 321,260 | | | | | | | | | | | | | |||||||||||||||||||||
| 3/1/2018 | | | | 4,866 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | | 3/2/2020 | | | | 11,140 | | | | | — | | | | | 14.43 | | | | | 3/2/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 3/1/2017 | | | | 5,936 | | | | | — | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2019 | | | | 3,832 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| Denise Dignam | | | 3/1/2022 | | | | — | | | | | 22,244 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 2,117 | | | | | 64,823 | | | | | 10,585 | | | | | 324,113 | | | | 3/1/2018 | | | | 2,068 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| 3/1/2021 | | | | 6,135 | | | | | 12,269 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 1,249 | | | | | 38,244 | | | | | 23,428 | | | | | 717,350 | | | | 3/1/2017 | | | | 2,473 | | | | | — | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 3/2/2020 | | | | 5,570 | | | | | 5,570 | | | | | 14.43 | | | | | 3/2/2030 | | | | | 1,444 | | | | | 44,215 | | | | | | | | | | | | | Kristine Wellman | | | 8/1/2023 | | | | | | | | | | | | | | | | | | | | | | | | 3,307 | | | | | 104,318 | | | | | | | | | | | | | |||||||||||||||||||
| 3/1/2019 | | | | 3,832 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2023 | | | | — | | | | | 10,855 | | | | | 38.32 | | | | | 3/1/2033 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 3/1/2018 | | | | 2,068 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2023 | | | | — | | | | | 10,579 | | | | | 34.84 | | | | | 3/1/2033 | | | | | 4,774 | | | | | 150,565 | | | | | 4,774 | | | | | 150,565 | | | |||||||||||||||||||||
| 3/1/2017 | | | | 2,473 | | | | | — | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2022 | | | | 5,309 | | | | | 10,616 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 4,286 | | | | | 135,175 | | | | | | | | | | | | | |||||||||||||||||||||
| David Shelton | | | 3/1/2022 | | | | — | | | | | 38,422 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 3,656 | | | | | 111,947 | | | | | 18,283 | | | | | 559,825 | | | | 3/1/2021 | | | | 4,260 | | | | | 2,130 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 958 | | | | | 30,219 | | | | | | | | | | | | | ||||||||||||||||||
| 3/1/2021 | | | | 12,952 | | | | | 25,902 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 16,519 | | | | | 505,812 | | | | | 49,458 | | | | | 1,514,389 | | | | 3/2/2020 | | | | 11,140 | | | | | — | | | | | 14.43 | | | | | 3/2/2030 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 3/2/2020 | | | | — | | | | | 33,868 | | | | | 14.43 | | | | | 3/2/2030 | | | | | 84,532 | | | | | 2,588,374 | | | | | | | | | | | | | | 3/1/2019 | | | | 4,006 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 3/1/2019 | | | | 26,480 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2018 | | | | 2,554 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 3/1/2018 | | | | 16,545 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2017 | | | | 5,936 | | | | | — | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| 3/1/2017 | | | | 19,788 | | | | | — | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | Alvenia Scarborough | | | 8/1/2023 | | | | | | | | | | | | | | | | | | | | | | | | 6,891 | | | | | 217,354 | | | | | | | | | | | | | |||||||||||||||||||
| | 3/1/2023 | | | | — | | | | | 5,427 | | | | | 38.32 | | | | | 3/1/2033 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2023 | | | | — | | | | | 5,289 | | | | | 34.84 | | | | | 3/1/2033 | | | | | 2,387 | | | | | 75,282 | | | | | 2,387 | | | | | 75,282 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2022 | | | | 4,382 | | | | | 8,762 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 884 | | | | | 27,866 | | | | | 3,302 | | | | | 104,156 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2021 | | | | 6,816 | | | | | 3,408 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 5,659 | | | | | 178,481 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2019 | | | | 3,135 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2018 | | | | 2,433 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2017 | | | | 3,627 | | | | | — | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | |
| | | 2024 Proxy Statement | | | 62 | |
| | | | OPTION AWARDS | | | STOCK AWARDS | | |||||||||||||||||||||||||||||||||||||||||||||
| | | | NUMBER OF SECURITIES UNDERLYING UNEXERCISED OPTIONS(1) | | | SHARES OR UNITS OF STOCK THAT HAVE NOT VESTED(2) | | | EQUITY INCENTIVE PLAN AWARDS: UNEARNED SHARES, UNITS OR OTHER RIGHTS THAT HAVE NOT VESTED(3) | | ||||||||||||||||||||||||||||||||||||||||||
| NAME | | | GRANT DATE | | | EXERCISABLE (#) | | | UNEXERCISABLE ($) | | | OPTION EXERCISE PRICE ($) | | | OPTION EXPIRATION DATE | | | NUMBER (#) | | | MARKET VALUE ($) | | | NUMBER (#) | | | MARKET OR PAYOUT VALUE ($) | | ||||||||||||||||||||||||
| Susan Kelliher | | | 3/1/2023 | | | | | — | | | | | | 11,690 | | | | | | 38.32 | | | | | | 3/1/2033 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 3/1/2023 | | | | | — | | | | | | 11,393 | | | | | | 34.84 | | | | | | 3/1/2033 | | | | | | 5,140 | | | | | | 162,122 | | | | | | 5,140 | | | | | | 162,122 | | | |||
| 3/1/2022 | | | | | 9,437 | | | | | | 18,874 | | | | | | 25.98 | | | | | | 3/1/2032 | | | | | | 1,905 | | | | | | 60,081 | | | | | | 7,113 | | | | | | 224,351 | | | |||
| 3/1/2021 | | | | | 19,086 | | | | | | 9,543 | | | | | | 24.01 | | | | | | 3/1/2031 | | | | | | 15,845 | | | | | | 499,741 | | | | | | | | | | | | | | | |||
| 3/2/2020 | | | | | 74,866 | | | | | | — | | | | | | 14.43 | | | | | | 3/2/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 3/1/2019 | | | | | 16,724 | | | | | | — | | | | | | 38.02 | | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 3/1/2018 | | | | | 9,732 | | | | | | — | | | | | | 48.53 | | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 6/1/2017 | | | | | 8,864 | | | | | | — | | | | | | 41.51 | | | | | | 6/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| Sameer Ralhan(4) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Edwin Sparks(4) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| GRANT DATE | | | OUTSTANDING VESTING DATES | |
| 3/1/2023 | | | Vests in equal installments on March 1, 2024, 2025 and 2026 | |
| 3/1/2022 | | | Vests in equal installments on March 1, | |
| 7/1/2021 | | | Vests in equal installments on March 1, | |
| 3/1/2021 | | | Vests in equal installments on March 1, | |
| GRANT DATE | | | OUTSTANDING VESTING DATES | |
| 8/1/2023 | | | Vests in equal installments on August 1, 2024, 2025 and 2026 | |
| 8/1/2023 | | | RSUs with vesting date of August 1, 2026 | |
| 3/1/2023 | | | Vests in equal installments on March 1, 2024, 2025 and 2026 | |
| 3/1/2023 | | | RSUs with vesting date of March 1, 2026 | |
| 3/1/2022 | | | Vests in equal installments on March 1, | |
| 7/1/2021 | | | | |
| 7/1/2021 | | | PSUs with performance period ended December 31, 2023, | |
| 3/1/2021 | | | | |
| |||||
| | PSUs with performance period ended December 31, | |
| | | 2024 Proxy Statement | | | 63 | |
| GRANT DATE | | | OUTSTANDING VESTING DATES | |
| 3/1/2023 | | | Performance period ending December 31, 2025. The number of PSUs reported is based on achievement of target performance | |
| 3/1/2022 | | | Performance period ending December 31, 2024. The number of PSUs reported is based on achievement of | |
|
| | | | OPTION AWARDS(1) | | STOCK AWARDS(2) | | | | | OPTION AWARDS(1) | | STOCK AWARDS(2) | | ||||||||||||||||||||||||||||||||||||||
| NAME | | NUMBER OF SHARES ACQUIRED ON EXERCISE (#) | | VALUE REALIZED ON EXERCISE ($) | | NUMBER OF SHARES ACQUIRED ON VESTING (#) | | VALUE REALIZED ON VESTING ($) | | NAME | | NUMBER OF SHARES ACQUIRED ON EXERCISE (#) | | VALUE REALIZED ON EXERCISE ($) | | NUMBER OF SHARES ACQUIRED ON VESTING (#) | | VALUE REALIZED ON VESTING ($) | | ||||||||||||||||||||||||||||||||
| Mark Newman | | | | 197,161 | | | | | 4,768,232 | | | | | 22,940 | | | | | 674,254 | | | Mark Newman | | | | | | | | | | | | | | 157,826 | | | | | 5,426,358 | | | ||||||||
| Sameer Ralhan | | | | 55,363 | | | | | 1,920,912 | | | | | 13,568 | | | | | 400,182 | | | Jonathan Lock | | | | | | | | | | | | | | 21,946 | | | | | 754,494 | | | ||||||||
| Edwin Sparks | | | | 62,932 | | | | | 1,319,809 | | | | | 10,434 | | | | | 307,866 | | | Denise Dignam | | | | | | | | | | | | | | 3,002 | | | | | 106,677 | | | ||||||||
| Alisha Bellezza | | | | 14,365 | | | | | 321,975 | | | | | 5,104 | | | | | 135,154 | | | Kristine Wellman | | | | | | | | | | | | | | 4,605 | | | | | 162,503 | | | ||||||||
| Denise Dignam | | | | | | | | | | | | | | 9,732 | | | | | 284,491 | | | Alvenia Scarborough | | | | 5,125 | | | | | 91,587 | | | | | 2,283 | | | | | 81,433 | | | ||||||||
| David Shelton | | | | 150,780 | | | | | 4,604,260 | | | | | 17,025 | | | | | 476,787 | | | Susan Kelliher | | | | | | | | | | | | | | 92,351 | | | | | 3,072,581 | | | ||||||||
| Sameer Ralhan | | | | 259,408 | | | | | 4,521,566 | | | | | 102,258 | | | | | 3,514,469 | | | ||||||||||||||||||||||||||||||
| Edwin Sparks | | | | 55,619 | | | | | 595,773 | | | | | 119,759 | | | | | 4,182,860 | | |
| | | | | |
| NAME | | EXECUTIVE CONTRIBUTIONS IN LAST FISCAL YEAR ($)(1) | | REGISTRANT CONTRIBUTION IN LAST FISCAL YEAR ($)(2) | | AGGREGATE EARNING IN LAST FISCAL YEAR ($)(3) | | AGGREGATE WITHDRAWALS / DISTRIBUTIONS IN LAST FISCAL YEAR ($) | | AGGREGATE BALANCE AT LAST FISCAL YEAR-END ($) | | NAME | | EXECUTIVE CONTRIBUTIONS IN LAST FISCAL YEAR ($)(1) | | REGISTRANT CONTRIBUTION IN LAST FISCAL YEAR ($)(2) | | AGGREGATE EARNING IN LAST FISCAL YEAR ($)(3) | | AGGREGATE WITHDRAWALS / DISTRIBUTIONS IN LAST FISCAL YEAR ($) | | AGGREGATE BALANCE AT LAST FISCAL YEAR-END ($) | | ||||||||||||||||||||||||||||||||||||||||
| Mark Newman | | | | | | | | | | | | | | | | | | | | | | | | | | | Mark Newman | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| RSRP | | | | 111,464 | | | | | 111,464 | | | | | -111,899 | | | | | | | | | | 889,187 | | | RSRP | | | | 50,000 | | | | | 50,000 | | | | | 140,713 | | | | | | | | | | 1,233,228 | | | ||||||||||
| MDCP | | | | | | | | | | | | | | -80,322 | | | | | -25,047 | | | | | 823,204 | | | MDCP | | | | | | | | | | | | | | 137,876 | | | | | | | | | | 961,080 | | | ||||||||||
| Sameer Ralhan | | | | | | | | | | | | | | | | | | | | | | | | | | | Jonathan Lock | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| RSRP | | | | 39,265 | | | | | 39,265 | | | | | -109,449 | | | | | | | | | | 524,175 | | | RSRP | | | | 21,872 | | | | | 21,872 | | | | | 13,328 | | | | | | | | | | 123,116 | | | ||||||||||
| Edwin Sparks | | | | | | | | | | | | | | | | | | | | | | | | | | | Denise Dignam | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| RSRP | | | | 44,197 | | | | | 44,197 | | | | | -59,284 | | | | | | | | | | 364,758 | | | RSRP | | | | 37,259 | | | | | 37,259 | | | | | 23,322 | | | | | | | | | | 193,683 | | | ||||||||||
| Alisha Bellezza | | | | | | | | | | | | | | | | | | | | | | | | | | | Kristine Wellman | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| RSRP | | | | 55,098 | | | | | 55,098 | | | | | -22,440 | | | | | | | | | | 141,539 | | | RSRP | | | | 22,227 | | | | | 22,227 | | | | | 15,955 | | | | | | | | | | 126,148 | | | ||||||||||
| Denise Dignam | | | | | | | | | | | | | | | | | | | | | | | | | | | Alvenia Scarborough | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| RSRP | | | | 49,825 | | | | | 49,825 | | | | | -9,759 | | | | | | | | | | 93,862 | | | RSRP | | | | 11,900 | | | | | 11,900 | | | | | 8,161 | | | | | | | | | | 57,842 | | | ||||||||||
| David Shelton | | | | | | | | | | | | | | | | | | | | | | | | | | | Susan Kelliher | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| RSRP | | | | 41,548 | | | | | 41,548 | | | | | -114,406 | | | | | | | | | | 646,596 | | | RSRP | | | | 22,885 | | | | | 22,885 | | | | | 39,338 | | | | | | | | | | 262,885 | | | ||||||||||
| MDCP | | | | | | | | | | | | | | -79,688 | | | | | | | | | | 606,883 | | | MDCP | | | | 130,611 | | | | | | | | | | 101,425 | | | | | | | | | | 772,635 | | | ||||||||||
| Sameer Ralhan | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||
| RSRP | | | | 11,222 | | | | | 11,222 | | | | | 122,291 | | | | | | | | | | 692,215 | | | |||||||||||||||||||||||||||||||||||||
| Edwin Sparks | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||
| RSRP | | | | 2,875 | | | | | 2,875 | | | | | 58,679 | | | | | -44,904 | | | | | 392,827 | | |
| | | 2024 Proxy Statement | | | 65 | |
| | | | RSRP | | | MDCP | | | TOTAL | | |||||||||
| Mark Newman | | | | | 734,866 | | | | | | 928,573 | | | | | | 1,663,439 | | |
| Sameer Ralhan | | | | | 522,199 | | �� | | | | — | | | | | | 552,199 | | |
| Edwin Sparks | | | | | 309,782 | | | | | | — | | | | | | 309,782 | | |
| David Shelton | | | | | 667,421 | | | | | | 549,072 | | | | | | 1,216,493 | | |
| | | | RSRP ($) | | | MDCP ($) | | | TOTAL ($) | | |||||||||
| Mark Newman | | | | | 848,725 | | | | | | 856,700 | | | | | | 1,705,425 | | |
| Denise Dignam | | | | | 99,650 | | | | | | — | | | | | | 99,650 | | |
| Susan Kelliher | | | | | 15,174 | | | | | | 146,623 | | | | | | 161,797 | | |
| Sameer Ralhan | | | | | 282,812 | | | | | | — | | | | | | 282,812 | | |
| Edwin Sparks | | | | | 272,999 | | | | | | — | | | | | | 272,999 | | |
| | | 2024 Proxy Statement | | | 66 | |
| | | | | |
| NAME | | FORM OF COMPENSATION(1) | | VOLUNTARY OR FOR CAUSE ($) | | INVOLUNTARY TERMINATION WITHOUT CAUSE ($)(2) | | RETIREMENT ($)(3) | | DEATH ($)(4) | | DISABILITY ($)(5) | | CHANGE IN CONTROL WITH ASSUMPTION OR SUBSTITUTION(6) | | CHANGE IN CONTROL WITHOUT ASSUMPTION OR SUBSTITUTION(7) | | TERMINATION WITHOUT CAUSE OR RESIGNATION FOR GOOD REASON IN CONNECTION WITH CHANGE IN CONTROL(8) | | NAME(9) | | FORM OF COMPENSATION(1) | | VOLUNTARY OR FOR CAUSE ($) | | INVOLUNTARY TERMINATION WITHOUT CAUSE ($)(2) | | RETIREMENT ($)(3) | | DEATH ($)(4) | | DISABILITY ($)(5) | | CHANGE IN CONTROL WITH ASSUMPTION OR SUBSTITUTION(6) | | CHANGE IN CONTROL WITHOUT ASSUMPTION OR SUBSTITUTION(7) | | TERMINATION WITHOUT CAUSE OR RESIGNATION FOR GOOD REASON IN CONNECTION WITH CHANGE IN CONTROL(8) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mark Newman | | | Annual Salary | | | | — | | | | | 147,436 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 3,000,000 | | | Mark Newman | | | Annual Salary | | | | — | | | | | 176,282 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 3,000,000 | | | ||||||||||||||||
| Target Annual Bonus | | | | — | | | | | 1,300,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 3,900,000 | | | | Target Annual Bonus | | | | — | | | | | 1,300,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 3,900,000 | | | |||||||||||||||||||||
| Target Annual Bonus (pro-rated) | | | | — | | | | | — | | | | | — | | | | | 1,300,000 | | | | | 1,300,000 | | | | | — | | | | | — | | | | | 1,300,000 | | | | Target Annual Bonus (pro-rated) | | | | — | | | | | — | | | | | — | | | | | 1,300,000 | | | | | 1,300,000 | | | | | — | | | | | — | | | | | 1,300,000 | | | |||||||||||||||||||||
| Health and Dental Benefits | | | | — | | | | | 5,046 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 60,551 | | | | Health and Dental Benefits | | | | — | | | | | 5,046 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 60,551 | | | |||||||||||||||||||||
| Outplacement Services | | | | — | | | | | 2,150 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 12,900 | | | | Outplacement Services | | | | — | | | | | 2,150 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 12,900 | | | |||||||||||||||||||||
| Stock Options | | | | — | | | | | — | | | | | — | | | | | 2,093,202 | | | | | 2,093,202 | | | | | — | | | | | 2,093,202 | | | | | 2,093,202 | | | | Stock Options | | | | — | | | | | — | | | | | — | | | | | 918,555 | | | | | 918,555 | | | | | — | | | | | 918,555 | | | | | 918,555 | | | |||||||||||||||||||||
| RSUs | | | | — | | | | | — | | | | | — | | | | | 809,164 | | | | | 809,164 | | | | | — | | | | | 809,164 | | | | | 809,164 | | | | RSUs | | | | — | | | | | — | | | | | — | | | | | 1,877,797 | | | | | 1,877,797 | | | | | — | | | | | 1,877,797 | | | | | 1,877,797 | | | |||||||||||||||||||||
| PSUs | | | | — | | | | | — | | | | | — | | | | | 3,947,349 | | | | | 3,947,349 | | | | | — | | | | | 3,947,349 | | | | | 6,476,069 | | | | PSUs | | | | — | | | | | — | | | | | — | | | | | 4,120,156 | | | | | 4,120,156 | | | | | — | | | | | 4,120,156 | | | | | 6,061,389 | | | |||||||||||||||||||||
| Total | | | | — | | | | | 1,454,632 | | | | | — | | | | | 8,149,715 | | | | | 8,149,715 | | | | | — | | | | | 6,849,715 | | | | | 17,651,886 | | | | Total | | | | — | | | | | 1,483,478 | | | | | — | | | | | 8,216,508 | | | | | 8,216,508 | | | | | — | | | | | 6,916,508 | | | | | 17,131,192 | | | |||||||||||||||||||||
| Sameer Ralhan | | | Annual Salary | | | | — | | | | | 99,159 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 1,250,000 | | | Jonathan Lock | | | Annual Salary | | | | — | | | | | 66,346 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 1,200,000 | | | ||||||||||||||||
| Target Annual Bonus | | | | — | | | | | 500,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 1,000,000 | | | | Target Annual Bonus | | | | — | | | | | 450,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 900,000 | | | |||||||||||||||||||||
| Target Annual Bonus (pro-rated) | | | | — | | | | | — | | | | | — | | | | | 500,000 | | | | | 500,000 | | | | | — | | | | | — | | | | | 500,000 | | | | Target Annual Bonus (pro-rated) | | | | — | | | | | — | | | | | — | | | | | 450,000 | | | | | 450,000 | | | | | — | | | | | — | | | | | 450,000 | | | |||||||||||||||||||||
| Health and Dental Benefits | | | | — | | | | | 7,425 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 59,398 | | | | Health and Dental Benefits | | | | — | | | | | 7,425 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 59,398 | | | |||||||||||||||||||||
| Outplacement Services | | | | — | | | | | 2,150 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 8,600 | | | | Outplacement Services | | | | — | | | | | 2,150 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 8,600 | | | |||||||||||||||||||||
| Stock Options | | | | — | | | | | — | | | | | — | | | | | 1,098,396 | | | | | 1,098,396 | | | | | — | | | | | 1,098,396 | | | | | 1,098,396 | | | | Stock Options | | | | — | | | | | — | | | | | — | | | | | 115,037 | | | | | 115,037 | | | | | — | | | | | 115,037 | | | | | 115,037 | | | |||||||||||||||||||||
| RSUs | | | | — | | | | | — | | | | | — | | | | | 1,503,289 | | | | | 1,503,289 | | | | | — | | | | | 1,503,289 | | | | | 1,503,289 | | | | RSUs | | | | — | | | | | — | | | | | — | | | | | 443,358 | | | | | 443,358 | | | | | — | | | | | 443,358 | | | | | 443,358 | | | |||||||||||||||||||||
| PSUs | | | | — | | | | | — | | | | | — | | | | | 2,101,850 | | | | | 2,101,850 | | | | | — | | | | | 2,101,850 | | | | | 2,995,953 | | | | PSUs | | | | — | | | | | — | | | | | — | | | | | 532,103 | | | | | 532,103 | | | | | — | | | | | 532,103 | | | | | 682,526 | | | |||||||||||||||||||||
| Total | | | | — | | | | | 608,734 | | | | | — | | | | | 5,203,535 | | | | | 5,203,535 | | | | | — | | | | | 4,703,535 | | | | | 8,415,636 | | | | Total | | | | — | | | | | 525,921 | | | | | — | | | | | 1,540,498 | | | | | 1,540,498 | | | | | — | | | | | 1,090,498 | | | | | 3,858,919 | | | |||||||||||||||||||||
| Edwin Sparks | | | Annual Salary | | | | — | | | | | 287,500 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 1,150,000 | | | Denise Dignam | | | Annual Salary | | | | — | | | | | 275,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 1,100,000 | | | ||||||||||||||||
| Target Annual Bonus | | | | — | | | | | 431,250 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 862,500 | | | | Target Annual Bonus | | | | — | | | | | 412,500 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 825,000 | | | |||||||||||||||||||||
| Target Annual Bonus (pro-rated) | | | | — | | | | | — | | | | | — | | | | | 431,250 | | | | | 431,250 | | | | | — | | | | | — | | | | | 431,250 | | | | Target Annual Bonus (pro-rated) | | | | — | | | | | — | | | | | — | | | | | 412,500 | | | | | 412,500 | | | | | — | | | | | — | | | | | 412,500 | | | |||||||||||||||||||||
| Health and Dental Benefits | | | | — | | | | | 2,022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 16,180 | | | | Health and Dental Benefits | | | | — | | | | | 4,761 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 38,091 | | | |||||||||||||||||||||
| Outplacement Services | | | | — | | | | | 2,150 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 8,600 | | | | Outplacement Services | | | | — | | | | | 2,150 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 8,600 | | | |||||||||||||||||||||
| Stock Options | | | | — | | | | | — | | | | | — | | | | | 830,371 | | | | | 830,371 | | | | | — | | | | | 830,371 | | | | | 830,371 | | | | Stock Options | | | | — | | | | | — | | | | | — | | | | | 128,646 | | | | | 128,646 | | | | | — | | | | | 128,646 | | | | | 128,646 | | | |||||||||||||||||||||
| RSUs | | | | — | | | | | — | | | | | — | | | | | 2,476,913 | | | | | 2,476,913 | | | | | — | | | | | 2,476,913 | | | | | 2,476,913 | | | | RSUs | | | | — | | | | | — | | | | | — | | | | | 789,068 | | | | | 789,068 | | | | | — | | | | | 789,068 | | | | | 789,068 | | | |||||||||||||||||||||
| PSUs | | | | — | | | | | — | | | | | — | | | | | 1,614,870 | | | | | 1,614,870 | | | | | — | | | | | 1,614,870 | | | | | 2,240,649 | | | | PSUs | | | | — | | | | | — | | | | | — | | | | | 579,882 | | | | | 579,882 | | | | | — | | | | | 579,882 | | | | | 816,098 | | | |||||||||||||||||||||
| Total | | | | — | | | | | 722,922 | | | | | — | | | | | 5,353,404 | | | | | 5,353,404 | | | | | — | | | | | 4,922,154 | | | | | 8,016,463 | | | | Total | | | | — | | | | | 694,411 | | | | | — | | | | | 1,910,096 | | | | | 1,910,096 | | | | | — | | | | | 1,497,596 | | | | | 4,118,003 | | |
| | | | | |
| NAME | | FORM OF COMPENSATION(1) | | VOLUNTARY OR FOR CAUSE ($) | | INVOLUNTARY TERMINATION WITHOUT CAUSE ($)(2) | | RETIREMENT ($)(3) | | DEATH ($)(4) | | DISABILITY ($)(5) | | CHANGE IN CONTROL WITH ASSUMPTION OR SUBSTITUTION(6) | | CHANGE IN CONTROL WITHOUT ASSUMPTION OR SUBSTITUTION(7) | | TERMINATION WITHOUT CAUSE OR RESIGNATION FOR GOOD REASON IN CONNECTION WITH CHANGE IN CONTROL(8) | | NAME(9) | | FORM OF COMPENSATION(1) | | VOLUNTARY OR FOR CAUSE ($) | | INVOLUNTARY TERMINATION WITHOUT CAUSE ($)(2) | | RETIREMENT ($)(3) | | DEATH ($)(4) | | DISABILITY ($)(5) | | CHANGE IN CONTROL WITH ASSUMPTION OR SUBSTITUTION(6) | | CHANGE IN CONTROL WITHOUT ASSUMPTION OR SUBSTITUTION(7) | | TERMINATION WITHOUT CAUSE OR RESIGNATION FOR GOOD REASON IN CONNECTION WITH CHANGE IN CONTROL(8) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Alisha Bellezza | | | Annual Salary | | | | | — | | | | | 64,087 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 930,000 | | | Kristine Wellman | | | Annual Salary | | | | — | | | | | 87,340 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 1,000,000 | | | |||||||||||||||
| Target Annual Bonus | | | | — | | | | | 348,750 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 697,500 | | | | Target Annual Bonus | | | | — | | | | | 350,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 700,000 | | | |||||||||||||||||||||
| Target Annual Bonus (pro-rated) | | | | — | | | | | — | | | | | — | | | | | 348,750 | | | | | 348,750 | | | | | — | | | | | — | | | | | 348,750 | | | | Target Annual Bonus (pro-rated) | | | | — | | | | | — | | | | | — | | | | | 350,000 | | | | | 350,000 | | | | | — | | | | | — | | | | | 350,000 | | | |||||||||||||||||||||
| Health and Dental Benefits | | | | — | | | | | 6,839 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 54,712 | | | | Health and Dental Benefits | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||
| Outplacement Services | | | | — | | | | | 2,150 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 8,600 | | | | Outplacement Services | | | | — | | | | | 2,150 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 8,600 | | | |||||||||||||||||||||
| Stock Options | | | | — | | | | | — | | | | | — | | | | | 319,586 | | | | | 319,586 | | | | | — | | | | | 319,586 | | | | | 319,586 | | | | Stock Options | | | | — | | | | | — | | | | | — | | | | | 83,584 | | | | | 83,584 | | | | | — | | | | | 83,584 | | | | | 83,584 | | | |||||||||||||||||||||
| RSUs | | | | — | | | | | — | | | | | — | | | | | 899,707 | | | | | 899,707 | | | | | — | | | | | 899,707 | | | | | 899,707 | | | | RSUs | | | | — | | | | | — | | | | | — | | | | | 404,595 | | | | | 404,595 | | | | | — | | | | | 404,595 | | | | | 404,595 | | | |||||||||||||||||||||
| PSUs | | | | — | | | | | — | | | | | — | | | | | 276,902 | | | | | 276,902 | | | | | — | | | | | 276,902 | | | | | 579,147 | | | | PSUs | | | | — | | | | | — | | | | | — | | | | | 48,900 | | | | | 48,900 | | | | | — | | | | | 48,900 | | | | | 147,103 | | | |||||||||||||||||||||
| Total | | | | — | | | | | 421,826 | | | | | — | | | | | 1,844,945 | | | | | 1,844,945 | | | | | — | | | | | 1,496,195 | | | | | 3,838,002 | | | | Total | | | | — | | | | | 439,490 | | | | | — | | | | | 887,079 | | | | | 887,079 | | | | | — | | | | | 537,079 | | | | | 2,693,882 | | | |||||||||||||||||||||
| Denise Dignam | | | Annual Salary | | | | — | | | | | 232,500 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 930,000 | | | Alvenia Scarborough | | | Annual Salary | | | | — | | | | | 86,939 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 700,000 | | | ||||||||||||||||
| Target Annual Bonus | | | | — | | | | | 348,750 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 697,500 | | | | Target Annual Bonus | | | | — | | | | | 175,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 350,000 | | | |||||||||||||||||||||
| Target Annual Bonus (pro-rated) | | | | — | | | | | — | | | | | — | | | | | 348,750 | | | | | 348,750 | | | | | — | | | | | — | | | | | 348,750 | | | | Target Annual Bonus (pro-rated) | | | | — | | | | | — | | | | | — | | | | | 175,000 | | | | | 175,000 | | | | | — | | | | | — | | | | | 175,000 | | | |||||||||||||||||||||
| Health and Dental Benefits | | | | — | | | | | 4,761 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 38,091 | | | | Health and Dental Benefits | | | | — | | | | | 6,839 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 54,712 | | | |||||||||||||||||||||
| Outplacement Services | | | | — | | | | | 2,150 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 8,600 | | | | Outplacement Services | | | | — | | | | | 2,150 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 8,600 | | | |||||||||||||||||||||
| Stock Options | | | | — | | | | | — | | | | | — | | | | | 274,489 | | | | | 274,489 | | | | | — | | | | | 274,489 | | | | | 274,489 | | | | Stock Options | | | | — | | | | | — | | | | | — | | | | | 74,379 | | | | | 74,379 | | | | | — | | | | | 74,379 | | | | | 74,379 | | | |||||||||||||||||||||
| RSUs | | | | — | | | | | — | | | | | — | | | | | 147,282 | | | | | 147,282 | | | | | — | | | | | 147,282 | | | | | 147,282 | | | | RSUs | | | | — | | | | | — | | | | | — | | | | | 324,673 | | | | | 324,673 | | | | | — | | | | | 324,673 | | | | | 324,673 | | | |||||||||||||||||||||
| PSUs | | | | — | | | | | — | | | | | — | | | | | 298,163 | | | | | 298,163 | | | | | — | | | | | 298,163 | | | | | 611,053 | | | | PSUs | | | | — | | | | | — | | | | | — | | | | | 319,968 | | | | | 319,968 | | | | | — | | | | | 319,968 | | | | | 435,000 | | | |||||||||||||||||||||
| Total | | | | — | | | | | 588,161 | | | | | — | | | | | 1,068,684 | | | | | 1,068,684 | | | | | — | | | | | 719,934 | | | | | 3,055,765 | | | | Total | | | | — | | | | | 270,928 | | | | | — | | | | | 894,020 | | | | | 894,020 | | | | | — | | | | | 719,020 | | | | | 2,122,363 | | | |||||||||||||||||||||
| David Shelton | | | Annual Salary | | | | — | | | | | 250,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 1,000,000 | | | Susan Kelliher | | | Annual Salary | | | | — | | | | | 53,806 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 850,000 | | | ||||||||||||||||
| Target Annual Bonus | | | | — | | | | | 350,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 700,000 | | | | Target Annual Bonus | | | | — | | | | | 297,500 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 595,000 | | | |||||||||||||||||||||
| Target Annual Bonus (pro-rated) | | | | — | | | | | — | | | | | — | | | | | 350,000 | | | | | 350,000 | | | | | — | | | | | — | | | | | 350,000 | | | | Target Annual Bonus (pro-rated) | | | | — | | | | | — | | | | | — | | | | | 297,500 | | | | | 297,500 | | | | | — | | | | | — | | | | | 297,500 | | | |||||||||||||||||||||
| Health and Dental Benefits | | | | — | | | | | 2,012 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 16,094 | | | | Health and Dental Benefits | | | | — | | | | | 3,734 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 29,875 | | | |||||||||||||||||||||
| Outplacement Services | | | | — | | | | | 2,150 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 8,600 | | | | Outplacement Services | | | | — | | | | | 2,150 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 8,600 | | | |||||||||||||||||||||
| Stock Options | | | | — | | | | | — | | | | | — | | | | | 897,813 | | | | | 897,813 | | | | | — | | | | | 897,813 | | | | | 897,813 | | | | Stock Options | | | | — | | | | | — | | | | | — | | | | | 176,798 | | | | | 176,798 | | | | | — | | | | | 176,798 | | | | | 176,798 | | | |||||||||||||||||||||
| RSUs | | | | — | | | | | — | | | | | — | | | | | 617,759 | | | | | 617,759 | | | | | — | | | | | 617,759 | | | | | 617,759 | | | | RSUs | | | | — | | | | | — | | | | | — | | | | | 245,697 | | | | | 245,697 | | | | | — | | | | | 245,697 | | | | | 245,697 | | | |||||||||||||||||||||
| PSUs | | | | — | | | | | — | | | | | — | | | | | 1,797,915 | | | | | 1,797,915 | | | | | — | | | | | 1,797,915 | | | | | 2,375,102 | | | | PSUs | | | | — | | | | | — | | | | | — | | | | | 795,274 | | | | | 795,274 | | | | | — | | | | | 795,274 | | | | | 1,043,028 | | | |||||||||||||||||||||
| Total | | | | — | | | | | 604,162 | | | | | — | | | | | 3,663,487 | | | | | 3,663,487 | | | | | — | | | | | 3,313,487 | | | | | 5,965,368 | | | | Total | | | | — | | | | | 357,190 | | | | | — | | | | | 1,515,269 | | | | | 1,515,269 | | | | | — | | | | | 1,217,769 | | | | | 3,246,498 | | |
| | | | | |
| | | | | |
| | | 2024 Proxy Statement | | | 71 | |
| | | | | |
| ELEMENT | | MEDIAN EMPLOYEE $ | | | | | | | CEO $ | | ELEMENT | | MEDIAN EMPLOYEE $ | | | | | | | CEO $ | | ||||||||||||||||||
| Salary (includes Overtime)(1) | | | | 99,364 | | | | | | | | | | 995,833 | | | Salary (includes Overtime)(1) | | | | 100,695 | | | | | | | | | | 1,000,000 | | | ||||||
| Stock Awards | | | | 0 | | | | | | | | | | 3,464,363 | | | Stock Awards | | | | 0 | | | | | | | | | | 3,249,640 | | | ||||||
| Option Awards | | | | 0 | | | | | | | | | | 2,039,991 | | | Option Awards | | | | 0 | | | | | | | | | | 2,999,990 | | | ||||||
| Non-Equity Incentive Plan Compensation/Bonus(2) | | | | 2,528 | | | | | | | | | | 1,024,400 | | | Non-Equity Incentive Plan Compensation/Bonus(2) | | | | 2,353 | | | | | | | | | | 0 | | | ||||||
| Change in Pension Value | | | | 0 | | | | | | | | | | 0 | | | Change in Pension Value | | | | 0 | | | | | | | | | | 0 | | | ||||||
| All Other Compensation(3) | | | | 6,264 | | | | | | | | | | 145,764 | | | All Other Compensation(3) (4) | | | | 6,426 | | | | | | | | | | 85,800 | | | ||||||
| Summary Compensation Table Totals | | | | 108,156 | | | | | | | | | | 7,670,351 | | | Summary Compensation Table Totals | | | | 109,473 | | | | | | | | | | 7,335,430 | | | ||||||
| CEO Pay Ratio | | | | | | | | | 71:1 | | | | | | | | CEO Pay Ratio | | | | | | | | | 67:1 | | | | | | | |
| | | 2024 Proxy Statement | | | 73 | |
| Year | | Summary Compensation Table Total for First PEO(1) | | Compensation Actually Paid to First PEO(2) | | Summary Compensation Table Total for Second PEO(3) | | Compensation Actually Paid to Second PEO(4) | | Average Summary Compensation Table Total for Non-PEO NEOs(5) | | Average Compensation Actually Paid to Non-PEO NEOs(6) | | | Value of Initial Fixed td00 Investment Based On: | | | Net Income (millions)(9) | | Free Cash Flow (millions)(10) | | YEAR | | SUMMARY COMPENSATION TABLE TOTAL FOR FIRST PEO(1) | | COMPENSATION ACTUALLY PAID TO FIRST PEO(2) | | SUMMARY COMPENSATION TABLE TOTAL FOR SECOND PEO(3) | | COMPENSATION ACTUALLY PAID TO SECOND PEO(4) | | AVERAGE SUMMARY COMPENSATION TABLE TOTAL FOR NON PEO(5) | | AVERAGE COMPENSATION ACTUALLY PAID TO NON-PEO NEOS(6) | | | VALUE OF INITIAL FIXED td00 INVESTMENT BASED ON: | | | NET INCOME (MILLIONS)(9) | | ADJUSTED EBITDA (MILLIONS)(10) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Shareholder Return(7) | | Peer Group Total Shareholder Return(8) | | | TOTAL SHAREHOLDER RETURN(7) | | PEER GROUP TOTAL SHAREHOLDER RETURN(8) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2022 | | | | — | | | | | — | | | | $ | 7,670,351 | | | | $ | 9,839,552 | | | | $ | 2,107,360 | | | | $ | 2,450,210 | | | | $ | 191.44 | | | | $ | 130.45 | | | | $ | 578 | | | | $ | 447 | | | 2023 | | | | — | | | | | — | | | | $ | 7,335,430 | | | | $ | 934,313 | | | | $ | 1,542,699 | | | | $ | (296,368)(11) | | | | $ | 203.94 | | | | $ | 149.93 | | | | $ | (238) | | | | $ | 1,014 | | | ||||||||||||||||||||
| 2021 | | | $ | 9,012,886 | | | | $ | 25,427,573 | | | | $ | 5,706,228 | | | | $ | 10,425,043 | | | | $ | 2,359,471 | | | | $ | 5,383,970 | | | | $ | 203.63 | | | | $ | 151.70 | | | | $ | 608 | | | | $ | 543 | | | 2022 | | | | — | | | | | — | | | | $ | 7,670,351 | | | | $ | 9,839,552 | | | | $ | 2,107,360 | | | | $ | 2,450,210 | | | | $ | 191.44 | | | | $ | 130.45 | | | | $ | 578 | | | | $ | 1,361 | | | ||||||||||||||||||||
| 2020 | | | $ | 8,606,576 | | | | $ | 16,928,335 | | | | | — | | | | | — | | | | $ | 2,915,198 | | | | $ | 4,524,555 | | | | $ | 145.61 | | | | $ | 119.86 | | | | $ | 219 | | | | $ | 540 | | | 2021 | | | $ | 9,012,886 | | | | $ | 25,427,573 | | | | $ | 5,537,669 | | | | $ | 10,256,484 | | | | $ | 2,359,471 | | | | $ | 5,383,970 | | | | $ | 203.63 | | | | $ | 151.70 | | | | $ | 608 | | | | $ | 1,313 | | | ||||||||||||||||||||
| 2020 | | | $ | 8,606,576 | | | | $ | 16,928,335 | | | | | — | | | | | — | | | | $ | 2,915,198 | | | | $ | 4,524,555 | | | | $ | 145.61 | | | | $ | 119.86 | | | | $ | 219 | | | | $ | 879 | | |
| | | | | |
| | | | PEO 1 | | | PEO 2 | | | NEO Average | | |||||||||||||||||||||||||||||||||||||||||||||
| | | | 2022 | | | 2021 | | | 2020 | | | 2022 | | | 2021 | | | 2020 | | | 2022 | | | 2021 | | | 2020 | | |||||||||||||||||||||||||||
| Summary Compensation Table Total | | | | | — | | | | | $ | 9,012,886 | | | | | $ | 8,606,576 | | | | | $ | 7,670,351 | | | | | $ | 5,706,228 | | | | | | — | | | | | $ | 2,107,360 | | | | | $ | 2,359,471 | | | | | $ | 2,915,198 | | |
| Less: Reported Fair Value of Equity Awards(a) | | | | | — | | | | | $ | 7,056,334 | | | | | $ | 6,231,013 | | | | | $ | 5,504,353 | | | | | $ | 3,039,984 | | | | | | — | | | | | $ | 1,130,702 | | | | | $ | 1,139,675 | | | | | $ | 1,807,220 | | |
| Add: Year-End Fair Value of Equity Awards Granted in the Year(b(i)) | | | | | — | | | | | $ | 10,037,056 | | | | | $ | 14,805,523 | | | | | $ | 7,286,350 | | | | | $ | 3,737,324 | | | | | | — | | | | | $ | 1,482,246 | | | | | $ | 1,697,677 | | | | | $ | 3,537,581 | | |
| Add: Change in Fair Value of Equity Awards Granted in Prior Years and Remain Unvested(b(II)) | | | | | — | | | | | $ | 11,676,849 | | | | | $ | (501,171) | | | | | $ | (231,485) | | | | | $ | 3,508,735 | | | | | | — | | | | | $ | (164,478) | | | | | $ | 2,182,023 | | | | | $ | (157,388) | | |
| Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year(b(III)) | | | | | — | | | | | $ | 144,996 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Add: Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year(b(iv)) | | | | | — | | | | | $ | 507,084 | | | | | $ | (2,653) | | | | | $ | 333,788 | | | | | $ | 184,986 | | | | | | — | | | | | $ | 47,967 | | | | | $ | 77,860 | | | | | $ | (17,955) | | |
| Add: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation(b(v)) | | | | | — | | | | | $ | 1,105,035 | | | | | $ | 251,073 | | | | | $ | 284,902 | | | | | $ | 327,754 | | | | | | — | | | | | $ | 107,817 | | | | | $ | 206,615 | | | | | $ | 54,340 | | |
| Less: Reported Change in the Actuarial Present Value of Pension Benefits(c) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Add: Actuarially determined service cost for services rendered during the fiscal year | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Add: Entire cost of benefits granted in a plan amendment (or initiation) during the applicable year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment or initiation | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| CAP | | | | | — | | | | | $ | 25,427,573 | | | | | $ | 16,928,335 | | | | | $ | 9,839,552 | | | | | $ | 10,425,043 | | | | | | — | | | | | $ | 2,450,210 | | | | | $ | 5,383,970 | | | | | $ | 4,524,555 | | |
| | | | PEO 1 | | | PEO 2 | | | NEO AVERAGE | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 2023 | | | 2022 | | | 2021 | | | 2020 | | | 2023 | | | 2022 | | | 2021 | | | 2020 | | | 2023 | | | 2022 | | | 2021 | | | 2020 | | ||||||||||||||||||||||||||||||||||||
| Summary Compensation Table Total | | | | | — | | | | | | — | | | | | $ | 9,012,886 | | | | | $ | 8,606,576 | | | | | $ | 7,335,430 | | | | | $ | 7,670,351 | | | | | $ | 5,537,669 | | | | | | — | | | | | $ | 1,542,699 | | | | | $ | 2,107,360 | | | | | $ | 2,359,471 | | | | | $ | 2,915,198 | | |
| Less: Reported Fair Value of Equity Awards(a) | | | | | — | | | | | | — | | | | | $ | 7,056,334 | | | | | $ | 6,231,013 | | | | | $ | 6,249,631 | | | | | $ | 5,504,353 | | | | | $ | 3,039,984 | | | | | | — | | | | | $ | 1,042,701 | | | | | $ | 1,130,702 | | | | | $ | 1,139,675 | | | | | $ | 1,807,220 | | |
| Add: Year-End Fair Value of Equity Awards Granted in the Year(b(i)) | | | | | — | | | | | | — | | | | | $ | 10,037,056 | | | | | $ | 14,805,523 | | | | | $ | 5,542,082 | | | | | $ | 7,286,350 | | | | | $ | 3,737,324 | | | | | | — | | | | | $ | 549,601 | | | | | $ | 1,482,246 | | | | | $ | 1,697,677 | | | | | $ | 3,537,581 | | |
| Add: Change in Fair Value of Equity Awards Granted in Prior Years and Remain Unvested(b(II)) | | | | | — | | | | | | — | | | | | $ | 11,676,849 | | | | | $ | (501,171) | | | | | $ | (4,188,551) | | | | | $ | (231,485) | | | | | $ | 3,508,735 | | | | | | — | | | | | $ | (246,002) | | | | | $ | (164,478) | | | | | $ | 2,182,023 | | | | | $ | (157,388) | | |
| Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year(b(III)) | | | | | — | | | | | | — | | | | | $ | 144,996 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Add: Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year(b(iv)) | | | | | — | | | | | | — | | | | | $ | 507,084 | | | | | $ | (2,653) | | | | | $ | 516,921 | | | | | $ | 333,788 | | | | | $ | 184,986 | | | | | | — | | | | | $ | 97,757 | | | | | $ | 47,967 | | | | | $ | 77,860 | | | | | $ | (17,955) | | |
| Add: Fair Value at the End of Prior Year of Equity Awards that Fail to Meet Vesting Conditions(b(v)) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | $ | (1,929,442) | | | | | | — | | | | | | — | | | | | | — | | | | | $ | (1,178,272) | | | | | | — | | | | | | — | | | | | | — | | |
| Add: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation(b(vi)) | | | | | — | | | | | | — | | | | | $ | 1,105,035 | | | | | $ | 251,073 | | | | | $ | (92,496) | | | | | $ | 284,902 | | | | | $ | 327,754 | | | | | | — | | | | | $ | (19,450) | | | | | $ | 107,817 | | | | | $ | 206,615 | | | | | $ | 54,340 | | |
| Less: Reported Change in the Actuarial Present Value of Pension Benefits(c) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Add: Actuarially determined service cost for services rendered during the fiscal year | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Add: Entire cost of benefits granted in a plan amendment (or initiation) during the applicable year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment or initiation | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| CAP | | | | | — | | | | | | — | | | | | $ | 25,427,573 | | | | | $ | 16,928,335 | | | | | $ | 934,313 | | | | | $ | 9,839,552 | | | | | $ | 10,256,484 | | | | | | — | | | | | $ | (296,368) | | | | | $ | 2,450,210 | | | | | $ | 5,383,970 | | | | | $ | 4,524,555 | | |
| | | | | |
| | | 2024 Proxy Statement | | | 76 | |
| | | 2024 Proxy Statement | | | 77 | |
| | | | | |
| Proposal 2 — Advisory Vote to Approve Named Executive Officer Compensation | |
| THE BOARD RECOMMENDS THAT YOU VOTE “FOR” THE APPROVAL, ON AN ADVISORY BASIS, OF THE COMPENSATION OF THE NAMED EXECUTIVE OFFICERS AS DESCRIBED IN THIS PROXY STATEMENT. | |
| | | | | |
| Proposal 3 — Ratification of Selection of Independent Registered Public Accounting Firm | |
| THE BOARD RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL TO RATIFY THE SELECTION OF PRICEWATERHOUSECOOPERS LLP AS INDEPENDENT PUBLIC ACCOUNTING FIRM FOR FISCAL YEAR | |
| | | 2022 (IN THOUSANDS) | | 2021 (IN THOUSANDS) | | | | 2023 (IN THOUSANDS) | | 2022 (IN THOUSANDS) | | ||||||||||||||||
| Audit fees(1) | | | $ | 7,145 | | | | $ | 7,012 | | | Audit fees(1) | | | $ | 9,695 | | | | $ | 7,145 | | | ||||
| Audit-related fees(2) | | | | 320 | | | | | 2,207 | | | Audit-related fees(2) | | | | 413 | | | | | 320 | | | ||||
| Tax fees(3) | | | | 319 | | | | | 1,549 | | | Tax fees(3) | | | | 448 | | | | | 319 | | | ||||
| All other fees(4) | | | | 14 | | | | | 37 | | | All other fees(4) | | | | 3 | | | | | 14 | | | ||||
| Total | | | $ | 7,798 | | | | $ | 10,805 | | | Total | | | $ | 10,559 | | | | $ | 7,798 | | |
| | | 2024 Proxy Statement | | | 80 | |
| | | | | |
| | | | | |
| | | | | |
| PROPOSAL | | | | |
| Proposal 1 — Election of Directors | | | FOR EACH NOMINEE | |
| Proposal 2 — Advisory Vote on Executive Compensation | | | FOR | |
| Proposal 3 — Ratification of Independent Registered Public Accounting Firm | | | FOR | |
| | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | ||||
| | INTERNET | | | | | | | | | | | | | | | TELEPHONE | | | | | | | | DURING THE MEETING | | | |
| | Visit www.AALVote.com/CC. Have your proxy card available when you access the above website. Follow the prompts to vote your shares by Internet until 11:59 p.m., Eastern Time, on | | | | | | | | Mark, sign, and date your proxy card, then detach it, and return it in the postage-paid envelope provided. | | | | | | | | Use any touch-tone telephone to vote your proxy. Call 1 | | | | | | | | If you wish to vote your shares electronically during the virtual Annual Meeting, go to www.AALvote.com/CC during the Annual Meeting while the polls are open. You will need the control number on your Notice, or the proxy card mailed to you, as | | |
| | | | | |
| PROPOSAL | | | VOTE REQUIRED | | | BROKER DISCRETIONARY VOTING ALLOWED? | |
| Elections of Directors | | | Majority of Votes Cast | | | No | |
| Advisory Approval of Executive Compensation | | | Majority of Votes Represented and Entitled to Vote | | | No | |
| Ratification of PwC LLP | | | Majority of Votes Represented and Entitled to Vote | | | Yes | |
| | | | | |
| | | 2024 Proxy Statement | | | 87 | |
| | | 2024 Proxy Statement | | | 88 | |
| | | | | |
| | | | YEAR ENDED DECEMBER 31, | | |||||||||
| | | | 2023 | | | 2022 | | ||||||
| (Loss) income before income taxes | | | | $ | (318) | | | | | $ | 741 | | |
| Net (loss) income attributable to Chemours | | | | | (238) | | | | | | 578 | | |
| Non-operating pension and other post-retirement employee benefit cost | | | | | — | | | | | | (5) | | |
| Exchange losses, net | | | | | 38 | | | | | | 15 | | |
| Restructuring, asset-related, and other charges(1) | | | | | 153 | | | | | | 15 | | |
| Loss (gain) on extinguishment of debt | | | | | 1 | | | | | | (7) | | |
| (Gain) loss on sales of assets and businesses, net(2) | | | | | (110) | | | | | | (21) | | |
| Transaction costs(3) | | | | | 16 | | | | | | — | | |
| Qualified spend recovery(4) | | | | | (54) | | | | | | (58) | | |
| Litigation-related charges(5) | | | | | 764 | | | | | | 23 | | |
| Environmental charges(6) | | | | | 9 | | | | | | 204 | | |
| Adjustments made to income taxes(7) | | | | | (19) | | | | | | 30 | | |
| Benefit from income taxes relating to reconciling items(8) | | | | | (135) | | | | | | (36) | | |
| Adjusted Net Income | | | | | 425 | | | | | | 738 | | |
| Net income attributable to non-controlling interests | | | | | 1 | | | | | | — | | |
| Interest expense, net | | | | | 208 | | | | | | 163 | | |
| Depreciation and amortization | | | | | 307 | | | | | | 291 | | |
| All remaining provision for income taxes | | | | | 73 | | | | | | 169 | | |
| Adjusted EBITDA | | | | $ | 1,014 | | | | | $ | 1,361 | | |
| | | 2024 Proxy Statement | | | 90 | |
| | | | YEAR ENDED DECEMBER 31, | | |||||||||
| | | | 2023 | | | 2022 | | ||||||
| Numerator: | | | | | | | | | | | | | |
| Net Income (loss) attributable to Chemours | | | | $ | (238) | | | | | $ | 578 | | |
| Adjusted Net Income | | | | | 425 | | | | | | 738 | | |
| Denominator: | | | | | | | | | | | | | |
| Weighted-average number of common shares outstanding – basic | | | | | 148,912,397 | | | | | | 155,359,361 | | |
| Dilutive effect of the Company’s employee compensation plans(1) | | | | | 1,584,958 | | | | | | 2,943,646 | | |
| Weighted-average number of common shares outstanding – diluted(1) | | | | | 150,497,355 | | | | | | 158,303,007 | | |
| Basic earnings (loss) per share of common stock(2) | | | | $ | (1.60) | | | | | $ | 3.72 | | |
| Diluted earnings (loss) per share of common stock(1)(2) | | | | | (1.60) | | | | | | 3.65 | | |
| Adjusted basic earnings per share of common stock(2) | | | | | 2.85 | | | | | | 4.75 | | |
| Adjusted diluted earnings per share of common stock(1)(2) | | | | | 2.82 | | | | | | 4.66 | | |
| | | 2024 Proxy Statement | | | 91 | |
| | | | YEAR ENDED DECEMBER 31, | | |||||||||
| | | | 2023 | | | 2022 | | ||||||
| Cash provided by operating activities | | | | $ | 556 | | | | | $ | 755 | | |
| Less: Purchases of property, plant, and equipment | | | | | (370) | | | | | | (307) | | |
| Free Cash Flows | | | | $ | 186 | | | | | $ | 448 | | |
| | | 2024 Proxy Statement | | | 92 | |