þ | No fee required. | |||||||
¨ | Fee computed on table | |||||||
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A-1 |
James Hagedorn, age | ||||||||||||||
Mr. J. Hagedorn has served as CEO of the Company since May 2001 and Chairman of the Board since January 2003. In addition to serving as CEO and Chairman of the Board, he served as President of the Company from October 2015 until February 2016. Mr. J. Hagedorn is the brother of Katherine Hagedorn Littlefield, a director of the Company. Having joined the Company in 1987 and the Board in 1995, and with service as CEO and Chairman of the Board for nearly two decades, Mr. J. Hagedorn has more working knowledge of the Company and its products than any other individual. During his career at the Company, Mr. J. Hagedorn has developed extensive leadership, international, and marketing/consumer industry experience that has proven invaluable as he leads the Board through a wide range of issues. |
investment bank. Ms. Avilés has over 30 years of experience in the finance industry, where she has cultivated key client relationships and executed growth strategies delivering strong financial |
Nancy G. Mistretta, age | ||||||||||||||
Ms. Mistretta is a director of HSBC North America Holdings, Inc., HSBC USA Inc., and HSBC Bank USA, N.A., where she serves on the Audit Committee and Risk Committee and chairs the Nominating & Governance Committee. In addition, Ms. Mistretta is a member of the Board of Directors of GAM Holding AG in Zurich, Switzerland, where she chairs the Compensation Committee and serves on the Governance and Nominating Committee. Ms. Mistretta is a retired partner of Russell Reynolds Associates (“Russell Reynolds”), an executive search firm, where she served as a partner from February 2005 until June 2009. She was a member of Russell Reynolds’ Not-For-Profit Sector and was responsible for managing executive officer searches for many large philanthropic organizations, with a particular focus on Throughout her nearly 30-year career at JPMorgan, Ms. Mistretta demonstrated a range of skills including leadership, international, marketing/consumer industry, retail and financial experience, including through roles as Managing Director responsible for Investment Bank Marketing and Communications, industry head responsible for the Global Diversified Industries group and industry head responsible for the Diversified, Consumer Products and Retail Industries group. Ms. Mistretta qualifies as an “audit committee financial expert” as that term is defined in the applicable SEC Rules and her financial experience is particularly valuable to the Board in her service as Chair of the Audit Committee and member of the Committee Memberships: Audit (Chair); Compensation |
Gerald Volas, age 68, Director of the Company since 2021 | ||||||||||||||
Mr. Volas served as Chief Executive Officer and a director of TopBuild Corp., a leading installer and distributor of insulation products, between June 2015 and December 2020. Mr. Volas is also a director of Trex Company. Mr. Volas’ professional experience as a public company chief executive officer and as a senior executive of Masco Corporation, a consumer products company, brings critical operational expertise to the Board. In addition, his extensive financial experience on a range of issues relevant to public companies provides additional support to the Board’s oversight function. Mr. Volas qualifies as an “audit committee financial expert” as that term is defined in the applicable SEC Rules and his financial experience is also particularly valuable to the Board in his service as a member of the Audit Committee and the Finance Committee. Committee Memberships: Audit; Finance |
Thomas N. Kelly Jr., age | ||||||||||||||
Mr. Kelly is a former director of GameStop Corp., where he also Mr. Kelly also served as Executive Vice President, Transition Integration of Sprint Having served at various times as Chief Strategy Officer, Chief Operating Officer and Chief Marketing Officer of Sprint, Mr. Kelly brings an extensive skill set to the boardroom. His blend of leadership, innovation and technology, international, marketing/consumer industry and financial experience make him a key advisor to the Board on a full range of consumer and strategy-related matters. Committee Memberships: Innovation and Technology (Chair); Audit; Compensation |
Brian E. Sandoval, age 59, Director of the Company since 2022 | ||||||||||||||
Governor Sandoval has served as President of the University of Nevada, Reno since September 2020. Governor Sandoval served two terms as the 29th Governor of the State of Nevada, having held office from 2011 to 2019. Prior to serving as Governor, he served as a Judge of the U.S. District Court for the District of Nevada, Attorney General of Nevada and four years in the Nevada Assembly. He served as Chairman of the National Governors Association from 2017 to 2018. In addition, Governor Sandoval was a member of the Board of Directors of Coeur Mining, Inc. from 2019 to 2020 where he also served on the Environmental Health Safety and Corporate Responsibility Committee and Audit Committee, and the President of Global Gaming Development of MGM Resorts International from 2019 to 2020. As a former governor and current leader of a major educational institution, we believe Governor Sandoval’s experience leading large complex organizations will provide benefits to the Board and the Company’s shareholders. Committee Memberships: Innovation and Technology; Governance |
Peter E. Shumlin, age | ||||||||||||||
Governor Shumlin is a director of Putney Student Travel, National Geographic Student Expeditions and New York Times Student Journeys which Governor Shumlin’s lengthy public service career provides in-depth knowledge of government, public policy, legal, finance, governance and leadership matters. We believe his unique experience and skill set make him a valuable asset to the Board. Committee Memberships: Compensation (Chair); |
John R. Vines, age | ||||||||||||||
Lieutenant General (retired) Vines has been a partner of McChrystal Group since 2016 and was previously a Senior Advisor to McChrystal Group beginning in 2011. General Vines retired in 2007 from the U.S. Army after 35 years active service. He was in continuous command for his last six years of service, including as Commander, U.S. Army’s XVIII Airborne Corps and Multi-National Corps Iraq. In addition, he commanded the Combined Joint Task Force 180 Afghanistan. General Vines also served as the Senior Defense Representative to Afghanistan and Pakistan and previously commanded the 82nd Airborne Division, which included a year-long deployment in Afghanistan. Following retirement, General Vines With more than 35 years of active military service and significant management consulting experience, General Vines brings extensive leadership, strategy and innovation experience to the Board. Committee Membership: Governance |
David C. Evans, age | ||||||||||||||
Mr. Evans Mr. Evans served as the Interim Chief Financial Officer of Cardinal Health Mr. Evans’ financial acumen and intimate familiarity with the Company makes him uniquely qualified to serve as a member of the Board. Mr. Evans qualifies as an “audit committee financial expert” as that term is defined in the applicable rules and regulations of the SEC Committee |
Adam Hanft, age | ||||||||||||||
Mr. Hanft is the founder and Chief Executive Officer of Hanft As the Chief Executive Officer of Hanft Committee Membership: Innovation and Technology |
Stephen L. Johnson, age | ||||||||||||||
Mr. Johnson is the President and Chief Executive Officer of Stephen L. Johnson and Associates Strategic Consulting, LLC (“Johnson and Associates”), a strategic provider of business, research and financial management and consulting services formed in 2009. Prior to forming Johnson and Associates, Mr. Johnson worked for the U.S. Environmental Protection Agency for 30 years, where he became the first career employee and scientist to serve as Administrator, a position he held from January 2005 As President and Chief Executive Officer of Johnson and Associates and the former Administrator of the U.S. Environmental Protection Agency, as well as a lifelong scientist, Mr. Johnson brings considerable leadership and innovation and technology experience to the Board and fulfills the Board’s need for regulatory and environmental expertise as identified by the Governance Committee. Committee Memberships: Governance (Chair); Compensation; Innovation and Technology |
Katherine Hagedorn Littlefield, age | ||||||||||||||
Ms. Littlefield is a general partner of the Hagedorn Partnership, L.P. She also serves on the board for the Hagedorn Family Foundation, Inc., a charitable organization. She is the sister of James Hagedorn, the Company’s CEO and Chairman of the Board. Ms. Littlefield is a member of the Board of Trustees at Delaware Valley University. As a general partner and former Chair of the Hagedorn Partnership, L.P., the Company's largest shareholder, Ms. Littlefield brings a strong shareholder voice to the boardroom. She also has significant innovation and technology experience, having served on the Company's Innovation and Technology Committee (and its predecessors) since May 2004, as well as on the Innovation Advisory Board from its formation in 2001 until January 2014 when it was retired. Committee Memberships: Finance (Chair); Innovation and Technology |
Audit | Compensation and Organization | Nominating and Governance | Finance | Innovation and Technology | ||||||||||||||||||||||||||
Nancy G. Mistretta (Chair) | Peter E. Shumlin (Chair) | Stephen L. Johnson (Chair) | Katherine Hagedorn Littlefield (Chair) | Thomas N. Kelly Jr. (Chair) | ||||||||||||||||||||||||||
David C. Evans | Stephen L. Johnson | Brian E. Sandoval | David C. Evans | Adam Hanft | ||||||||||||||||||||||||||
Thomas N. Kelly Jr. | Thomas N. Kelly Jr. | Peter E. Shumlin | Brian D. Finn | Stephen L. Johnson | ||||||||||||||||||||||||||
Gerald Volas | Nancy G. Mistretta | John R. Vines | Peter E. Shumlin | Katherine Hagedorn Littlefield | ||||||||||||||||||||||||||
Gerald Volas |
(1) David C. Evans | ||||||||
(2) Brian D. Finn | ||||||||
(3) Stephen L. Johnson | ||||||||
(4) Thomas N. Kelly Jr. | ||||||||
(5) Nancy G. Mistretta |
Pay Elements | Amount | |||||||||||||
Annual Board Retainer: (all non-employee directors) | Cash Retainer ($28,750 per quarter) | $ | 115,000 | |||||||||||
Restricted Stock Units (annual) | $ | 210,000 | ||||||||||||
Committee Chair/Membership Fees | N/A | |||||||||||||
Lead Independent Director: (supplemental compensation) | Additional Cash Retainer ($3,750 per quarter) | $ | 15,000 | |||||||||||
Additional Restricted Stock Units (annual) | $ | 35,000 | ||||||||||||
Pay Elements | Amount | |||||
Annual Board Retainer: (all non-employee directors) | Cash Retainer ($25,000 per quarter) | $ | 100,000 | |||
Restricted Stock Units (annual) | $ | 185,000 | ||||
Committee Chair/Membership Fees | N/A | |||||
Lead Independent Director: (supplemental compensation) | Additional Cash Retainer ($3,750 per quarter) | $ | 15,000 | |||
Additional Restricted Stock Units (annual) | $ | 35,000 |
Design Element | How it Aligns to Shareholder Interests | |||||||
• Approximately 2/3 of annual compensation is equity based | • Significant portion of director pay is directly linked to long-term share price performance | |||||||
• Deferred settlement of equity based compensation | • Mandatory two-year holding period after vesting aligns our directors with a long-term view | |||||||
• Mandatory share-based dividend equivalents on equity awards granted to directors | • Dividend equivalents automatically convert to additional shares rather than paid in cash | |||||||
• Robust stock ownership guidelines (5x cash retainer) | • Directors must retain 50% of each equity grant until the stock ownership guidelines have been met to ensure that our directors maintain a significant investment in the |
Name | Fees Earned or Paid in Cash ($)(1) | Stock Awards ($)(2)(3) | Total ($) | |||||||||||||||||
David C. Evans | 111,250 | 210,067 | 321,317 | |||||||||||||||||
Brian D. Finn | 111,250 | 210,067 | 321,317 | |||||||||||||||||
Adam Hanft | 111,250 | (4) | 210,067 | 321,317 | ||||||||||||||||
Stephen L. Johnson | 111,250 | 210,067 | 321,317 | |||||||||||||||||
Thomas N. Kelly Jr. | 111,250 | 210,067 | 321,317 | |||||||||||||||||
Katherine Hagedorn Littlefield | 111,250 | 210,067 | 321,317 | |||||||||||||||||
Nancy G. Mistretta | 111,250 | 210,067 | 321,317 | |||||||||||||||||
Brian E. Sandoval | 38,333 | (5) | 122,506 | (6) | 160,839 | |||||||||||||||
Peter E. Shumlin | 111,250 | 210,067 | 321,317 | |||||||||||||||||
John R. Vines | 126,250 | (7) | 245,012 | (8) | 371,262 | |||||||||||||||
Gerald Volas | 111,250 | 210,067 | 321,317 |
Name | Fees Earned or Paid in Cash ($)(1) | Stock Awards ($)(5)(6) | Total ($) | ||||||
David C. Evans | 100,000 | 185,028 | 285,028 | ||||||
Brian D. Finn | 100,000 | 185,028 | 285,028 | ||||||
Adam Hanft | 100,000 | (2) | 185,028 | (2) | 285,028 | ||||
Craig R. Hargreaves (resigned June 14, 2019) | 75,000 | 185,028 | (3) | 260,028 | |||||
Stephen L. Johnson | 100,000 | 185,028 | 285,028 | ||||||
Thomas N. Kelly Jr. | 100,000 | 185,028 | 285,028 | ||||||
Katherine Hagedorn Littlefield | 100,000 | 185,028 | 285,028 | ||||||
James F. McCann(8) | 100,000 | 185,028 | 285,028 | ||||||
Nancy G. Mistretta | 100,000 | 185,028 | 285,028 | ||||||
Peter E. Shumlin | 100,000 | 185,028 | 285,028 | ||||||
John R. Vines | 115,000 | (4) | 220,047 | (7) | 335,047 |
Name | Aggregate Number of Common Shares Subject to Stock Awards Outstanding as of September 30, | ||||||||
David C. Evans | 4,060 | ||||||||
Brian D. Finn | 6,271 | ||||||||
Adam Hanft (includes RSUs received in connection with consulting agreement) | 7,145 | ||||||||
Stephen L. Johnson | 4,400 | ||||||||
Thomas N. Kelly Jr. | 4,060 | ||||||||
Katherine Hagedorn Littlefield | |||||||||
4,060 | |||||||||
Nancy G. Mistretta | |||||||||
Brian E. Sandoval | 1,379 | ||||||||
Peter E. Shumlin | 5,747 | ||||||||
John R. Vines | |||||||||
Gerald Volas | 2,070 |
Name | Age | Position(s) Held | Years with Company | |||||||||||||||||
Michael C. Lukemire | 64 | President and Chief Operating Officer | 26 | |||||||||||||||||
Christopher J. Hagedorn | 38 | Division President | 11 | |||||||||||||||||
Matthew E. Garth | 48 | Executive Vice President and Chief Financial Officer | 1 | |||||||||||||||||
Denise S. Stump | 68 | Executive Vice President, Global Human Resources and Chief Ethics Officer | 22 | |||||||||||||||||
Dimiter Todorov | 50 | Executive Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer | 14 |
Name | Age | Position(s) Held | Years with Company | ||||
Thomas R. Coleman | 50 | Executive Vice President and Chief Financial Officer | 20 | ||||
James D. King | 56 | Executive Vice President, Chief Communications Officer | 18 | ||||
Michael C. Lukemire | 61 | President and Chief Operating Officer | 23 | ||||
Ivan C. Smith | 50 | Executive Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer | 16 | ||||
Denise S. Stump | 65 | Executive Vice President, Global Human Resources and Chief Ethics Officer | 19 |
* Plan results are derived from financial measures that are not calculated in accordance with the U.S. generally accepted accounting principles (“GAAP”). A reconciliation |
Metric Weighting | Payout Level | Performance Results* | Weighted Payout % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Metric | 50.0% | 100.0% | 150.0% | 200.0% | 250.0% | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-GAAP Adjusted Earnings | 75% | $ | 777.7 | $ | 797.6 | $ | 837.5 | $ | 877.4 | $ | 917.2 | $ | 441.5 | 0% | |||||||||||||||||||||||||||||||||||||||
Net Sales | 25% | $ | 4,826.5 | $ | 4,925.0 | $ | 5,023.5 | $ | 5,122.0 | $ | 5,220.5 | $ | 3,924.1 | 0% | |||||||||||||||||||||||||||||||||||||||
Total | 0% |
Metric Weighting | Payout Level | Performance Results* | Weighted Payout % | ||||||||||||||||||||||||||
Metric | 50.0% | 100.0% | 125.0% | 200.0% | 250.0% | ||||||||||||||||||||||||
Non-GAAP Adjusted EBITA | 60% | $ | 411.7 | $ | 456.8 | $ | 464.4 | $ | 475.6 | $ | 486.9 | $ | 458.0 | 62.3% | |||||||||||||||
Non-GAAP Free Cash Flow | 40% | $ | 220.0 | $ | 285.0 | $ | 300.0 | $ | 340.0 | $ | 360.0 | $ | 329.5 | 72.1% | |||||||||||||||
Total | 134.4% |
Metric Weighting | Payout Level | Performance Results* | Weighted Payout % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Metric | 50.0% | 100.0% | 150.0% | 200.0% | 250.0% | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-GAAP Adjusted EPS | 100% | $ | 8.00 | $ | 8.50 | N/A | N/A | N/A | $ | 4.10 | 0% |
Year ended September 30, 2022 (in millions) | |||||
Net loss attributable to controlling interest (GAAP) | $ | (437.5) | |||
Impairment, restructuring and other charges | 852.2 | ||||
Interest expense | 118.1 | ||||
Amortization expense (in SG&A) | 31.0 | ||||
Income tax benefit from continuing operations | (120.6) | ||||
Other | (1.7) | ||||
Adjusted Earnings (Non-GAAP) | $ | 441.5 |
Year ended September 30, 2022 | |||||
Diluted loss per common share from continuing operations (GAAP) | $ | (7.88) | |||
Impairment, restructuring and other charges | 15.19 | ||||
Adjustment to income tax benefit from continuing operations | (3.29) | ||||
Adjusted diluted income per common share from continuing operations (Non-GAAP)** | 4.10 |
Year ended September 30, 2019 | |||
Net income attributable to controlling interest (GAAP) | $ | 460.7 | |
Income from discontinued operations, net of tax | (23.5 | ) | |
Impairment, restructuring and other charges | 13.3 | ||
Interest expense | 101.8 | ||
Amortization expense (in SG&A) | 32.9 | ||
Other non-operating income, net | (270.5 | ) | |
Equity in income of unconsolidated affiliates | (3.3 | ) | |
Income tax expense from continuing operations | 144.9 | ||
Other | 1.7 | ||
Adjusted EBITA (Non-GAAP) | $ | 458.0 |
Year ended September 30, 2019 | |||
Net cash provided by operating activities (GAAP) | $ | 226.8 | |
Investments in property, plant and equipment | (42.4 | ) | |
Impact of litigation settlements (net of potential insurance recovery) | 45.4 | ||
Tax impact on divestiture of the TruGreen investment | 99.5 | ||
Other | 0.2 | ||
Free cash flow (Non-GAAP) | $ | 329.5 |
NEO | 2019 EIP Payout | |||
Mr. Hagedorn | $ | 3,158,713 | ||
Mr. Coleman | $ | 1,371,021 | ||
Mr. Lukemire | $ | 1,478,783 | ||
Ms. Stump | $ | 832,499 | ||
Mr. Smith | $ | 774,177 |
Metric (with dollars in millions) | Metric Weighting | 50% | 100% | 150% | 200% | 250% | ||||||||||||||||||||||||||||||||
Non-GAAP Cumulative Operating Cash Flow | 60% | $1,080.0 | $1,275.0 | $1,438.0 | $1,519.0 | $1,600.0 | ||||||||||||||||||||||||||||||||
Cumulative Net Sales | 40% | $14,250.0 | $15,000.0 | $15,750.0 | $16,125.0 | $16,500.0 |
PFA Performance Period Payout Levels | ||||||||||
Metric | Metric Weighting | 50% | 100% | 200% | 250% | |||||
Cumulative Non-GAAP Free Cash Flow | 67% | $500.0M | $900.0M | $1.3B | $1.5B | |||||
Avg. Annual Calculated Investor Return | 33% | 5.0% | 10.0% | 13.0% | 15.0% |
Metric | Actual to Date | Vs. 5-Year Performance Target | ||||||||||||||||
2017 | 2018 | 2019 | Cumulative | |||||||||||||||
Cumulative Non-GAAP Free Cash Flow ($M) | $ | 305.2 | $ | 277.2 | $ | 334.1 | $ | 916.5 | $ +16.5 | |||||||||
Avg. Annual Calculated Investor Return | 12.1% | (3.2%) | 22.5% | 10.5% | +0.5% |
2017 | 2018 | 2019 | Cumulative | ||||||||||||
Net Cash Provided by Operating Activities (GAAP) | $ | 363.2 | $ | 342.5 | $ | 226.8 | $ | 932.5 | |||||||
Investments in property, plant and equipment | (69.6 | ) | (68.2 | ) | (42.4 | ) | (180.2 | ) | |||||||
Impact of litigation settlements (net of potential insurance recovery)* | — | — | 45.4 | 45.4 | |||||||||||
Tax impact on divestiture of the TruGreen investment* | — | — | 99.5 | 99.5 | |||||||||||
Impact of divestitures and accounting changes | 11.6 | 2.9 | 4.8 | 19.3 | |||||||||||
Non-GAAP Free Cash Flow Result** | $ | 305.2 | $ | 277.2 | $ | 334.1 | $ | 916.5 |
Central Garden & Pet Company | Church & Dwight Co., Inc. | |||||||
The Clorox Company | ||||||||
Constellation Brands, Inc. | Energizer Holdings, Inc. | |||||||
FMC Corporation | ||||||||
Herbalife Nutrition Ltd. | Masco Corporation | |||||||
Nu Skin Enterprises, Inc. | ||||||||
Rollins, Inc. | RPM International, Inc. | |||||||
The J. M. Smucker Company | ||||||||
Spectrum Brands Holdings, Inc. | The Toro Company | |||||||
The Boston Beer Company, Inc. |
Fixed Elements of Compensation | Variable Elements of Compensation | Total Direct Compensation (TDC)(3) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Bonus | Target Annual Long-Term Incentive Value(2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Base Salary | Other Comp(1) | Fixed % of TDC | Target % | Target $ | Variable % of TDC | ||||||||||||||||||||||||||||||||||||||||||||||||
Mr. J. Hagedorn | 2022 TDC | $ | 1,200,000 | $ | 1,000,000 | 21% | 175% | $ | 2,100,000 | $ | 6,000,000 | 79% | $ | 10,300,000 | |||||||||||||||||||||||||||||||||||||||
2021 TDC | $ | 1,200,000 | $ | 1,000,000 | 24% | 175% | $ | 2,100,000 | $ | 5,000,000 | 76% | $ | 9,300,000 | ||||||||||||||||||||||||||||||||||||||||
Mr. Evans (4) | 2022 TDC | $ | 1,687,500 | $ | — | 61% | —% | $ | — | $ | 1,075,000 | 39% | $ | 2,762,500 | |||||||||||||||||||||||||||||||||||||||
Mr. Lukemire | 2022 TDC | $ | 720,000 | $ | 300,000 | 26% | 125% | $ | 900,000 | $ | 2,000,000 | 74% | $ | 3,920,000 | |||||||||||||||||||||||||||||||||||||||
2021 TDC | $ | 720,000 | $ | 300,000 | 28% | 125% | $ | 900,000 | $ | 1,750,000 | 72% | $ | 3,670,000 | ||||||||||||||||||||||||||||||||||||||||
Mr. C. Hagedorn | 2022 TDC | $ | 650,000 | $ | — | 29% | 90% | $ | 585,000 | $ | 1,000,000 | 71% | $ | 2,235,000 | |||||||||||||||||||||||||||||||||||||||
2021 TDC | $ | 650,000 | $ | — | 29% | 90% | $ | 585,000 | $ | 1,000,000 | 71% | $ | 2,235,000 | ||||||||||||||||||||||||||||||||||||||||
Ms. Stump | 2022 TDC | $ | 650,000 | $ | 310,000 | 42% | 90% | $ | 585,000 | $ | 750,000 | 58% | $ | 2,295,000 | |||||||||||||||||||||||||||||||||||||||
2021 TDC | $ | 650,000 | $ | 310,000 | 44% | 90% | $ | 585,000 | $ | 620,000 | 56% | $ | 2,165,000 | ||||||||||||||||||||||||||||||||||||||||
Mr. Miller | 2022 TDC | $ | 600,000 | $ | — | 26% | 90% | $ | 540,000 | $ | 1,200,000 | 74% | $ | 2,340,000 | |||||||||||||||||||||||||||||||||||||||
2021 TDC | $ | 600,000 | $ | — | 32% | 90% | $ | 540,000 | $ | 750,000 | 68% | $ | 1,890,000 |
Fixed Elements of Compensation | Variable Elements of Compensation | Total Direct Compensation (TDC)(2) | |||||||||||||||||||||||||
Annual Bonus | Target Annual Long-Term Incentive Value | ||||||||||||||||||||||||||
Base Salary | Other Comp(1) | Fixed % of TDC | Target % | Target $ | Variable % of TDC | ||||||||||||||||||||||
Mr. Hagedorn | 2019 TDC | $ | 1,100,000 | $ | 1,000,000 | 24% | 150% | $ | 1,650,000 | $ | 5,000,000 | 76% | $ | 8,750,000 | |||||||||||||
2018 TDC | $ | 1,100,000 | $ | 1,000,000 | 26% | 120% | $ | 1,320,000 | $ | 4,580,000 | 74% | $ | 8,000,000 | ||||||||||||||
Mr. Coleman | 2019 TDC | $ | 700,000 | $ | 187,500 | 28% | 110% | $ | 770,000 | $ | 1,500,000 | 72% | $ | 3,157,500 | |||||||||||||
2018 TDC | $ | 675,000 | — | 27% | 75% | $ | 506,250 | $ | 1,300,000 | 73% | $ | 2,481,250 | |||||||||||||||
Mr. Lukemire | 2019 TDC | $ | 720,000 | $ | 300,000 | 29% | 110% | $ | 792,000 | $ | 1,750,000 | 71% | $ | 3,562,000 | |||||||||||||
2018 TDC | $ | 700,000 | — | 24% | 80% | $ | 560,000 | $ | 1,600,000 | 76% | $ | 2,860,000 | |||||||||||||||
Ms. Stump | 2019 TDC | $ | 650,000 | $ | 310,000 | 46% | 75% | $ | 487,500 | $ | 620,000 | 54% | $ | 2,067,500 | |||||||||||||
2018 TDC | $ | 575,000 | $ | 310,000 | 47% | 65% | $ | 373,750 | $ | 620,000 | 53% | $ | 1,878,750 | ||||||||||||||
Mr. Smith | 2019 TDC | $ | 600,000 | — | 36% | 75% | $ | 450,000 | $ | 620,000 | 64% | $ | 1,670,000 | ||||||||||||||
2018 TDC | $ | 550,000 | — | 36% | 65% | $ | 357,500 | $ | 620,000 | 64% | $ | 1,527,500 |
(2) The actual grant value awarded to each of the NEOs, other than Mr. Evans (who only received RSUs), during the 2022 fiscal year was granted in the form of PUs and service-based RSUs. For additional details on grant values see the section captioned “Elements of Executive Compensation — Long-Term Equity-Based Incentive Awards (long-term compensation element).” (3) TDC reflects the annualized total direct compensation opportunity at target, based on pay changes approved by |
CEO | 10 times base salary | ||||
COO | 5 times base salary | ||||
Other NEOs | 3 times base salary |
Name and Principal Position | Year | Salary ($)(1) | Bonus ($) | Stock Awards ($)(2) | Option Awards ($)(3) | Non-Equity Incentive Plan Compensation ($)(4) | Change in Pension Value and Non-Qualified Deferred Compensation Earnings ($)(5) | All Other Compensation ($)(7) | Total ($)(8) | Name and Principal Position | Year | Salary ($)(1) | Bonus ($) | Stock Awards ($)(2) | Option Awards ($) | Non-Equity Incentive Plan Compensation ($)(3) | Change in Pension Value and Non-Qualified Deferred Compensation Earnings ($)(4) | All Other Compensation ($)(6) | Total ($) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
James Hagedorn Chief Executive Officer and Chairman of the Board | 2019 | 1,100,000 | — | 2,500,036 | — | 3,158,713 | 55,821 | (6) | 1,107,814 | 7,922,384 | James Hagedorn Chief Executive Officer and Chairman of the Board | 2022 | 1,104,000 | — | 6,000,143 | — | — | — | (5) | 1,065,718 | 8,169,861 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2018 | 1,100,000 | — | 2,290,049 | — | 660,000 | — | (6) | 1,106,520 | 5,156,569 | 2021 | 1,200,000 | — | 2,500,122 | 2,400,932 | 3,465,000 | — | (5) | 1,147,858 | 10,713,912 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 | 1,100,000 | — | 18,320,035 | — | 1,546,380 | — | (6) | 1,106,615 | 22,073,030 | 2020 | 1,175,000 | — | 2,500,114 | — | 7,450,820 | 39,282 | (5) | 1,124,210 | 12,289,426 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas R. Coleman Executive Vice President and Chief Financial Officer | 2019 | 693,750 | — | 750,041 | — | 1,371,021 | — | 210,553 | 3,025,365 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2018 | 675,000 | — | 650,008 | — | 253,125 | — | 89,217 | 1,667,350 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 | 675,000 | — | 5,200,092 | — | 593,072 | — | 89,715 | 6,557,879 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David C. Evans Interim Chief Financial Officer (7) | David C. Evans Interim Chief Financial Officer (7) | 2022 | 153,606 | — | 1,075,015 | — | — | — | — | 1,228,621 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Michael C. Lukemire President and Chief Operating Officer | 2019 | 715,000 | — | 875,035 | — | 1,478,783 | 4,478 | (6) | 294,723 | 3,368,019 | Michael C. Lukemire President and Chief Operating Officer | 2022 | 720,000 | — | 2,000,225 | — | — | — | (5) | 462,172 | 3,182,397 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2018 | 700,000 | — | 1,100,056 | — | 280,000 | — | (6) | 90,851 | 2,170,907 | 2021 | 720,000 | — | 875,161 | 840,323 | 1,485,000 | — | (5) | 599,553 | 4,520,037 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 | 700,000 | — | 6,700,139 | — | 596,400 | — | (6) | 13,853 | 8,010,392 | 2020 | 720,000 | — | 875,071 | — | 3,273,197 | 3,207 | (5) | 467,787 | 5,339,261 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Christopher J. Hagedorn Division President | Christopher J. Hagedorn Division President | 2022 | 599,833 | — | 1,000,245 | — | — | — | 22,875 | 1,622,953 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 637,180 | 500,024 | 480,211 | 1,022,752 | — | 21,750 | 2,661,917 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Denise S. Stump Executive Vice President, Global Human Resources and Chief Ethics Officer | 2019 | 631,250 | — | 310,022 | — | 832,499 | — | 359,115 | 2,132,886 | Denise S. Stump Executive Vice President, Global Human Resources and Chief Ethics Officer | 2022 | 650,000 | — | 750,184 | — | — | — | 424,895 | 1,825,079 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2018 | 568,750 | — | 310,075 | — | 181,407 | — | 195,141 | 1,255,373 | 2021 | 650,000 | — | 310,091 | 297,739 | 877,500 | — | 516,449 | 2,651,779 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 | 550,000 | — | 2,480,149 | — | 386,595 | — | 191,205 | 3,607,949 | 2020 | 650,000 | — | 310,022 | — | 2,101,844 | — | 422,675 | 3,484,541 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ivan C. Smith Executive Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer | 2019 | 587,500 | — | 310,022 | — | 774,177 | — | 49,316 | 1,721,015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2018 | 537,500 | — | 310,075 | — | 171,563 | — | 59,998 | 1,079,136 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 | 495,000 | — | 2,320,037 | — | 347,936 | — | 65,337 | 3,228,310 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cory J. Miller Former Executive Vice President and Chief Financial Officer | Cory J. Miller Former Executive Vice President and Chief Financial Officer | 2022 | 552,308 | — | 1,200,082 | — | — | — | 138,259 | 1,890,649 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 492,676 | — | 1,375,147 | 360,174 | 614,492 | — | 66,401 | 2,908,890 |
Summary | ||||||||||||||
Compensation Table | Less Actual | Normalized | ||||||||||||
Total Comp ($) | Stock Awards ($) | Plus Normalized | Total Annual | |||||||||||
Name | Year | (as reported) | (as reported) | Stock Awards ($) | Comp ($) | |||||||||
James Hagedorn | 2019 | 7,922,384 | (2,500,036 | ) | 5,622,024 | 11,044,372 | ||||||||
2018 | 5,156,569 | (2,290,049 | ) | 5,496,017 | 8,362,537 | |||||||||
2017 | 22,073,030 | (18,320,035 | ) | 5,496,017 | 9,249,012 | |||||||||
Thomas R. Coleman | 2019 | 3,025,365 | (750,041 | ) | 1,620,028 | 3,895,353 | ||||||||
2018 | 1,667,350 | (650,008 | ) | 1,560,020 | 2,577,362 | |||||||||
2017 | 6,557,879 | (5,200,092 | ) | 1,560,020 | 2,917,806 | |||||||||
Michael C. Lukemire | 2019 | 3,368,019 | (875,035 | ) | 2,085,046 | 4,578,030 | ||||||||
2018 | 2,170,907 | (1,100,056 | ) | 2,040,039 | 3,110,890 | |||||||||
2017 | 8,010,392 | (6,700,139 | ) | 2,040,039 | 3,350,292 | |||||||||
Denise S. Stump | 2019 | 2,132,886 | (310,022 | ) | 744,049 | 2,566,913 | ||||||||
2018 | 1,255,373 | (310,075 | ) | 744,045 | 1,689,343 | |||||||||
2017 | 3,607,949 | (2,480,149 | ) | 744,045 | 1,871,845 | |||||||||
Ivan C. Smith | 2019 | 1,721,015 | (310,022 | ) | 712,027 | 2,123,019 | ||||||||
2018 | 1,079,136 | (310,075 | ) | 712,022 | 1,481,084 | |||||||||
2017 | 3,228,310 | (2,320,037 | ) | 712,022 | 1,620,295 |
Name | Defined Contribution Plans ($)(1) | Deferred Compensation Plans ($)(2) | Total ($)(3) | |||||
James Hagedorn | 21,000 | 1,086,814 | 1,107,814 | |||||
Thomas R. Coleman | 24,058 | 186,495 | 210,553 | |||||
Michael C. Lukemire | 20,313 | 274,410 | 294,723 | |||||
Denise S. Stump | 19,525 | 339,590 | 359,115 | |||||
Ivan C. Smith | 17,952 | 31,364 | 49,316 |
Name | Defined Contribution Plans ($)(1) | Deferred Compensation Plans ($)(2) | Other | Total ($) | ||||||||||||||||||||||
James Hagedorn | 22,875 | 1,042,843 | — | 1,065,718 | ||||||||||||||||||||||
David C. Evans | — | — | — | — | ||||||||||||||||||||||
Michael C. Lukemire | 18,484 | 443,688 | — | 462,172 | ||||||||||||||||||||||
Christopher J. Hagedorn | 22,875 | — | — | 22,875 | ||||||||||||||||||||||
Denise S. Stump | 22,083 | 402,812 | — | 424,895 | ||||||||||||||||||||||
Cory J. Miller | 22,750 | 67,817 | 47,692 | (3) | 138,259 |
(1) Reflects Company matching contributions made under the RSP at the applicable Company matching rate. Additional details about the Company matching formula can be found in the “Elements of Executive Compensation — Retirement Plans and Deferred Compensation Benefits (long-term compensation element) — Executive Retirement Plan” within the CD&A. |
ERP Match | SRA Contribution | Total | ||||||||||
James Hagedorn | $ | 86,814 | $ | 1,000,000 | $ | 1,086,814 | ||||||
Thomas R. Coleman | 45,870 | 140,625 | 186,495 | |||||||||
Michael C. Lukemire | 49,410 | 225,000 | 274,410 | |||||||||
Denise S. Stump | 29,590 | 310,000 | 339,590 | |||||||||
Ivan C. Smith | 31,364 | — | 31,364 |
ERP Match | SRA Contribution | Total | ||||||||||||||||||
James Hagedorn | $ | 126,176 | $ | 916,667 | $ | 1,042,843 | ||||||||||||||
David C. Evans | — | — | — | |||||||||||||||||
Michael C. Lukemire | 143,688 | 300,000 | 443,688 | |||||||||||||||||
Christopher J. Hagedorn | — | — | — | |||||||||||||||||
Denise S. Stump | 92,812 | 310,000 | 402,812 | |||||||||||||||||
Cory J. Miller | 67,816 | — | 67,816 |
Name | Grant Date(1) | Payouts Under Non-Equity Incentive Plan Awards (2) | Payouts Under Equity Incentive Plan Awards (shares) | Stock Awards: Number of Shares of Stock or Units (#) | Grant Date Fair Value of Stock and Option Awards (#)(3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Threshold ($) | Target ($) | Maximum ($) | Min. | Target | Max. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
James Hagedorn | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSUs | 2/4/2022 | 22,579 | 3,000,072 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PUs | 2/4/2022 | 11,290 | 22,579 | 56,448 | 3,000,072 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Incentive | 966,000 | 1,932,000 | 4,830,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David C. Evans (4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSUs | 9/1/2022 | 17,181 | 1,075,015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Michael C. Lukemire | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSUs | 2/4/2022 | 7,527 | 1,000,112 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PUs | 2/4/2022 | 3,764 | 7,527 | 18,818 | 1,000,112 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Incentive | 450,000 | 900,000 | 2,250,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Christopher J. Hagedorn | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSUs | 2/4/2022 | 3,764 | 500,123 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PUs | 2/4/2022 | 1,882 | 3,764 | 9,410 | 500,123 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Incentive | 269,925 | 539,850 | 1,349,625 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Denise S. Stump | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSUs | 2/4/2022 | 2,823 | 375,092 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PUs | 2/4/2022 | 1,412 | 2,823 | 7,058 | 375,092 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Incentive | 292,500 | 585,000 | 1,462,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cory J. Miller | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSUs | 2/4/2022 | 4,516 | 600,041 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PUs | 2/4/2022 | 2,258 | 4,516 | 11,290 | 600,041 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Incentive | 248,539 | 497,077 | 1,242,693 |
Name | Grant Date(1) | Payouts Under Non-Equity Incentive Plan Awards (2) | Payouts Under Equity Incentive Plan Awards (3) | All Other Stock Awards: Number of Shares of Stock or Units (#) | Grant Date Fair Value of Stock Awards (#)(4) | ||||||||||||||||
Threshold ($) | Target ($) | Maximum ($) | Threshold (shares) | Target (shares) | Maximum (shares) | ||||||||||||||||
James Hagedorn | |||||||||||||||||||||
RSUs | 2/4/2019 | — | — | — | 32,982 | 2,500,036 | |||||||||||||||
EIP | 783,411 | 1,566,822 | 3,917,055 | — | — | — | |||||||||||||||
Thomas R. Coleman | |||||||||||||||||||||
RSUs | 2/4/2019 | — | — | — | 9,895 | 750,041 | |||||||||||||||
EIP | 351,761 | 703,521 | 1,758,803 | — | — | — | |||||||||||||||
Michael C. Lukemire | |||||||||||||||||||||
RSUs | 2/4/2019 | — | — | — | 11,544 | 875,035 | |||||||||||||||
EIP | 366,762 | 733,523 | 1,833,808 | — | — | — | |||||||||||||||
Denise S. Stump | |||||||||||||||||||||
RSUs | 2/4/2019 | — | — | — | 4,090 | 310,022 | |||||||||||||||
EIP | 229,415 | 458,829 | 1,147,073 | — | — | — | |||||||||||||||
Ivan C. Smith | |||||||||||||||||||||
RSUs | 2/4/2019 | — | — | — | 4,090 | 310,022 | |||||||||||||||
EIP | 213,343 | 426,685 | 1,066,713 | — | — | — |
Option Awards | Stock Awards | |||||||||||||||||||||||
Name | Grant Date | Number of Securities Underlying Unexercised Options Exercisable (#)(1) | Number of Securities Underlying Unexercised Options Unexercisable (#)(1) | Option Exercise Price ($)(2) | Option Expiration Date | Number of Shares or Units That Have Not Vested (#)(3) | Market Value of Shares or Units That Have Not Vested ($)(4) | Equity Incentive Plan Awards: Number of Unearned Shares or Units That Have Not Vested (#)(5)(6) | Equity Incentive Plan Awards: Market or Payout Value Of Unearned Shares or Units That Have Not Vested ($)(7) | |||||||||||||||
James Hagedorn | 1/21/2011 | 123,991 | 49.19 | 1/20/2021 | ||||||||||||||||||||
1/20/2012 | 120,288 | 45.32 | 1/19/2022 | |||||||||||||||||||||
1/30/2015 | 134,139 | 63.43 | 1/30/2025 | |||||||||||||||||||||
1/29/2016 | 134,469 | 68.68 | 1/29/2026 | |||||||||||||||||||||
1/30/2017 | 24,629 | 2,507,725 | 344,806 | 35,108,147 | ||||||||||||||||||||
2/2/2018 | 25,310 | 2,577,064 | ||||||||||||||||||||||
2/4/2019 | 32,982 | 3,358,227 | ||||||||||||||||||||||
Thomas R. Coleman | 1/30/2017 | 6,991 | 711,824 | 97,872 | 9,965,327 | |||||||||||||||||||
2/2/2018 | 7,184 | 731,475 | ||||||||||||||||||||||
2/4/2019 | 9,895 | 1,007,509 | ||||||||||||||||||||||
Michael C. Lukemire | 1/21/2011 | 9,788 | 49.19 | 1/20/2021 | ||||||||||||||||||||
1/20/2012 | 9,813 | 45.32 | 1/19/2022 | |||||||||||||||||||||
1/30/2015 | 50,302 | 63.43 | 1/30/2025 | |||||||||||||||||||||
1/29/2016 | 46,976 | 68.68 | 1/29/2026 | |||||||||||||||||||||
1/30/2017 | 11,831 | 1,204,632 | 120,458 | 12,265,034 | ||||||||||||||||||||
2/2/2018 | 8,842 | 900,292 | ||||||||||||||||||||||
2/2/2018 | 3,316 | 337,635 | ||||||||||||||||||||||
2/4/2019 | 11,544 | 1,175,410 | ||||||||||||||||||||||
Denise S. Stump | 1/20/2012 | 9,529 | 45.32 | 1/19/2022 | ||||||||||||||||||||
1/30/2017 | 3,335 | 339,570 | 46,678 | 4,752,754 | ||||||||||||||||||||
2/2/2018 | 3,427 | 348,937 | ||||||||||||||||||||||
2/4/2019 | 4,090 | 416,444 | ||||||||||||||||||||||
Ivan C. Smith | 1/30/2017 | 3,119 | 317,577 | 43,666 | 4,446,072 | |||||||||||||||||||
2/2/2018 | 3,427 | 348,937 | ||||||||||||||||||||||
2/4/2019 | 4,090 | 416,444 |
Option Awards | Stock Awards | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | Grant Date | Number of Securities Underlying Unexercised Options Exercisable (#)(1) | Number of Securities Underlying Unexercised Options Unexercisable (#)(1) | Option Exercise Price ($)(2) | Option Expiration Date | Number of Shares or Units That Have Not Vested (#)(3) | Market Value of Shares or Units That Have Not Vested ($)(4) | Equity Incentive Plan Awards: Number of Unearned Shares or Units That Have Not Vested (#)(5) | Equity Incentive Plan Awards: Market or Payout Value Of Unearned Shares or Units That Have Not Vested ($)(6) | ||||||||||||||||||||||||||||||||||||||||||||||||||
James Hagedorn | 1/30/2015 | 142,733 | 59.62 | 1/30/2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
1/29/2016 | 143,079 | 64.55 | 1/29/2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/3/2020 | 20,185 | 862,909 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/5/2021 | 39,263 | 236.53 | 2/5/2031 | 10,570 | 451,868 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/4/2022 | 22,579 | 965,252 | 22,579 | 965,252 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
David C. Evans (7) | 9/1/2022 | 17,181 | 734,488 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Michael C. Lukemire | 2/3/2020 | 7,065 | 302,029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/5/2021 | 13,742 | 236.53 | 2/5/2031 | 3,700 | 158,175 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/4/2022 | 7,527 | 321,779 | 7,527 | 321,779 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Christopher J. Hagedorn | 1/30/2015 | 3,568 | 59.62 | 1/30/2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
1/29/2016 | 5,857 | 64.55 | 1/29/2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/3/2020 | 3,230 | 138,083 | 4,038 | 172,625 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/5/2021 | 7,853 | 236.53 | 2/5/2031 | 2,114 | 90,374 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/4/2022 | 3,764 | 160,911 | 3,764 | 160,911 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Denise S. Stump | 2/3/2020 | 2,503 | 107,003 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/5/2021 | 4,869 | 236.53 | 2/5/2031 | 1,311 | 56,045 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/4/2022 | 2,823 | 120,683 | 2,823 | 120,683 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cory J. Miller | 2/3/2020 | 808 | 34,542 | 1,010 | 43,178 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
1/8/2021 | 2,430 | 103,883 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/5/2021 | 830 | 35,483 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/4/2022 | 862 | 36,851 | 862 | 36,851 |
Award Type | Grant Date | Normal Vesting Date | Vesting Schedule Notes | ||||||||
RSUs | 2/3/2023 | Vests on the third anniversary of the grant date | |||||||||
RSUs | 1/ | 1/8/2024 | Vests on the third anniversary of the grant date | ||||||||
RSUs | 2/ | 2/ | Vests on the third anniversary of the grant date | ||||||||
RSUs | 2/4/ | 2/4/ | Vests on the third anniversary of the grant date |
Grant Date | Probable Payout % | ||||
2/3/2020 | 125.0% | |||||||
100.0% |
NEO | PFA Payout Assuming a Target Level of Achievement | PFA Payout Assuming a Probable Level of Achievement as of September 30, 2019 (200% of Target Payout) | |||
James Hagedorn | 172,403 | 344,806 | |||
Thomas R. Coleman | 48,936 | 97,872 | |||
Michael C. Lukemire | 60,229 | 120,458 | |||
Denise S. Stump | 23,339 | 46,678 | |||
Ivan C. Smith | 21,833 | 43,666 |
Option Awards | Stock Awards | |||||||||||
Name | Number of Shares Acquired on Exercise (#) | Value Realized on Exercise ($)(1) | Number of Shares Acquired on Vesting (#)(2) | Value Realized on Vesting ($)(3) | ||||||||
James Hagedorn | 85,444 | 5,947,300 | 33,344 | 2,333,080 | ||||||||
Thomas R. Coleman | 56,292 | 2,528,157 | 7,099 | 496,717 | ||||||||
Michael C. Lukemire | 13,363 | 404,038 | 11,649 | 815,081 | ||||||||
Denise S. Stump | 11,575 | 813,763 | 4,514 | 315,845 | ||||||||
Ivan C. Smith | 33,126 | 1,442,742 | 4,223 | 295,483 |
Option Awards | Stock Awards | |||||||||||||||||||||||||
Name | Number of Shares Acquired on Exercise (#) | Value Realized on Exercise ($)(1) | Number of Shares Acquired on Vesting (#)(2) | Value Realized on Vesting ($)(3) | ||||||||||||||||||||||
James Hagedorn | — | — | 463,990 | 69,550,728 | ||||||||||||||||||||||
David C. Evans (4) | — | — | — | — | ||||||||||||||||||||||
Michael C. Lukemire | — | — | 162,117 | 24,300,489 | ||||||||||||||||||||||
Christopher J. Hagedorn | — | — | 57,217 | 8,322,590 | ||||||||||||||||||||||
Denise S. Stump | — | — | 62,438 | 9,365,656 | ||||||||||||||||||||||
Cory J. Miller | — | — | 12,577 | 1,767,138 |
Grant Type | Grant Date | Vesting Date | Settlement Date | Share |
James Hagedorn | PFA (5-year PUs) | 1/30/2017 | 12/1/2021 | 1/31/2022 | $151.20 | |||||||||||||||||||||||||||
RSU | 2/4/2019 | 2/4/2022 | 2/4/2022 | $132.87 | ||||||||||||||||||||||||||||
PFA (5-year PUs) | 1/30/2017 | 12/1/2021 | 1/31/2022 | $151.20 |
RSU | 2/4/2019 | 2/4/2022 | 2/4/2022 | $132.87 | ||||||||||||||||||||||||||||
Special PU | 11/1/2018 | 10/26/2021 | 10/26/2021 | $149.58 | ||||||||||||||||||||||||||||
PU (3-year) | 2/4/2019 | 2/4/2022 | 2/4/2022 | $132.87 | ||||||||||||||||||||||||||||
RSU | 2/4/2019 | 2/4/2022 | 2/4/2022 | $132.87 | ||||||||||||||||||||||||||||
Denise S. Stump | PFA (5-year PUs) | 1/30/2017 | 12/1/2021 | 1/31/2022 | $151.20 | |||||||||||||||||||||||||||
RSU | 2/4/2019 | 2/4/2022 | 2/4/2022 | $132.87 | ||||||||||||||||||||||||||||
Cory J. Miller | Special PU | 11/1/2018 | 10/26/2021 | 10/26/2021 | $149.58 | |||||||||||||||||||||||||||
PU (3-year) | 2/4/2019 | 2/4/2022 | 2/4/2022 | $132.87 | ||||||||||||||||||||||||||||
RSU | 2/4/2019 | 2/4/2022 | 2/4/2022 | $132.87 | ||||||||||||||||||||||||||||
RSU | 2/4/2019 | 2/4/2022 | 2/4/2022 | $132.87 |
Name | Plan Name | Number of Years Credited Service (#)(1) | Present Value of Accumulated Benefit ($)(2) | Name | Plan Name | Number of Years Credited Service (#)(1) | Present Value of Accumulated Benefit ($)(2) | |||||||||||||||||||||
James Hagedorn | The Scotts Company LLC Associates’ Pension Plan | 9.9167 | 310,751 | James Hagedorn | The Scotts Company LLC Associates’ Pension Plan | 9.917 | 242,672 | |||||||||||||||||||||
The Scotts Company LLC Excess Benefit Plan For Non Grandfathered Associates | 2.0000 | 59,919 | The Scotts Company LLC Excess Benefit Plan For Non Grandfathered Associates | 2.000 | 46,512 | |||||||||||||||||||||||
Total | 370,670 | Total | 289,184 | |||||||||||||||||||||||||
Michael C. Lukemire | The Scotts Company LLC Associates’ Pension Plan | 0.9167 | 25,211 | Michael C. Lukemire | The Scotts Company LLC Associates’ Pension Plan | 0.917 | 21,490 |
Name | Executive Contributions in Last Fiscal Year ($)(1) | Company Contributions in Last Fiscal Year ($)(2) | Aggregate Earnings in Last Fiscal Year ($)(4) | Aggregate Withdrawals/ Distributions ($) | Aggregate Balance at Last Fiscal Year End ($)(5) | ||||||||||
James Hagedorn | 51,417 | 1,086,814 | (3) | 3,069,946 | — | 13,644,472 | |||||||||
Thomas R. Coleman | 90,721 | 186,495 | (3) | 47,001 | — | 1,739,413 | |||||||||
Michael C. Lukemire | 73,695 | 274,410 | (3) | 33,639 | — | 2,162,498 | |||||||||
Denise S. Stump | 96,135 | 339,590 | (3) | 207,353 | (46,240 | ) | 3,194,142 | ||||||||
Ivan C. Smith | 130,763 | 31,364 | 58,377 | — | 1,672,825 |
Name | Executive Contributions in Last Fiscal Year ($)(1) | Company Contributions in Last Fiscal Year ($)(2) | Aggregate Earnings in Last Fiscal Year ($)(3) | Aggregate Withdrawals/ Distributions ($) | Aggregate Balance at Last Fiscal Year End ($)(4) | |||||||||||||||||||||||||||
James Hagedorn | 49,348 | 1,042,843 | (15,871,478) | — | 8,125,668 | |||||||||||||||||||||||||||
David C. Evans | — | — | — | — | — | |||||||||||||||||||||||||||
Michael C. Lukemire | 292,301 | 443,688 | (1,349,443) | — | 4,819,197 | |||||||||||||||||||||||||||
Christopher J. Hagedorn | — | — | — | — | — | |||||||||||||||||||||||||||
Denise S. Stump | 154,142 | 402,812 | (2,421,292) | (222,965) | 4,235,627 | |||||||||||||||||||||||||||
Cory J. Miller | 91,751 | 67,816 | (153,418) | — | 566,223 |
ERP Match | SRA Contribution | Total | ERP Match | SRA Contribution | Total | |||||||||||||||||||||||||||
James Hagedorn | $ | 86,814 | $ | 1,000,000 | $ | 1,086,814 | James Hagedorn | $ | 126,176 | $ | 916,667 | $ | 1,042,843 | |||||||||||||||||||
Thomas R. Coleman | 45,870 | 140,625 | 186,495 | |||||||||||||||||||||||||||||
David C. Evans | David C. Evans | — | — | — | ||||||||||||||||||||||||||||
Michael C. Lukemire | 49,410 | 225,000 | 274,410 | Michael C. Lukemire | 143,688 | 300,000 | 443,688 | |||||||||||||||||||||||||
Christopher J. Hagedorn | Christopher J. Hagedorn | — | — | — | ||||||||||||||||||||||||||||
Denise S. Stump | 29,590 | 310,000 | 339,590 | Denise S. Stump | 92,812 | 310,000 | 402,812 | |||||||||||||||||||||||||
Ivan C. Smith | 31,364 | — | 31,364 | |||||||||||||||||||||||||||||
Cory J. Miller | Cory J. Miller | 67,816 | — | 67,816 |
Prior to CIC | Within 2 Years Following CIC | |||||||||||||||||||
Involuntary Without Cause or Voluntary With Good Reason | Due to Death or Disability | Involuntary Without Cause or Voluntary With Good Reason | ||||||||||||||||||
Salary Continuation: | ||||||||||||||||||||
CEO | 3x base salary (lump sum) | None | 3x base salary (lump sum) | |||||||||||||||||
All Other NEOs** | 2x base salary | None* | 2x base salary (lump sum) | |||||||||||||||||
Annual Incentive: | ||||||||||||||||||||
CEO | 3x highest bonus paid in prior 3 years (lump sum) | None | 3x highest bonus paid in prior 3 years (lump sum) | |||||||||||||||||
All Other NEOs** | 2x target bonus | None* | 2x target bonus plus prorated annual bonus (lump sum) | |||||||||||||||||
Welfare Benefits: | ||||||||||||||||||||
CEO | Coverage ends and CEO receives lump sum payment equal to the equivalent monthly premiums to continue medical, disability and life insurance for a period of 3 years | None | Coverage ends and CEO receives lump sum payment equal to the equivalent monthly premiums to continue medical, disability and life insurance for a period of 3 years | |||||||||||||||||
All Other NEOs** | Coverage ends and NEO receives Benefits Offset Payment for 24 months | None* | Coverage ends and NEO receives lump sum payment equal to Benefits Offset Payment for 24 months | |||||||||||||||||
Non-Compete Payments: | ||||||||||||||||||||
CEO | $3.6 million, payable in $100,000 monthly installments | None | $3.6 million, payable in $100,000 monthly installments | |||||||||||||||||
All | No additional compensation provided | None | No additional compensation provided |
Termination Due to: | Treatment of Unvested NSOs, RSUs | |||||||
Retirement | ||||||||
Death or Disability | ||||||||
For Cause | ||||||||
Any Other Reason | ||||||||
Subsequent to Change in Control |
Termination Prior to CIC | Following CIC(1) | Termination Prior to CIC | Following CIC(1) | |||||||||||||||||||||||||||||||||||||||||||
Executive Benefits and Payments Upon Termination | Involuntary Without Cause or Voluntary With Good Reason | Termination Due to Death or Disability | Involuntary Without Cause or Voluntary With Good Reason | CIC Only | Executive Benefits and Payments Upon Termination | Involuntary Without Cause or Voluntary With Good Reason | Termination Due to Death or Disability | Involuntary Without Cause or Voluntary With Good Reason | CIC Only | |||||||||||||||||||||||||||||||||||||
Compensation (2): | Compensation (2): | |||||||||||||||||||||||||||||||||||||||||||||
Base Salary (3x annual base salary) | $ | 3,300,000 | $ | — | $ | 3,300,000 | $ | — | Base Salary (3x annual base salary) | $ | 3,600,000 | $ | — | $ | 3,600,000 | $ | — | |||||||||||||||||||||||||||||
EIP (3) | 9,476,139 | — | 9,476,139 | — | ||||||||||||||||||||||||||||||||||||||||||
EIP — Prorated Annual Payout (3) | EIP — Prorated Annual Payout (3) | 2,100,000 | 2,100,000 | 2,100,000 | — | |||||||||||||||||||||||||||||||||||||||||
EIP — Payout (4) | EIP — Payout (4) | 22,352,460 | — | 22,352,460 | — | |||||||||||||||||||||||||||||||||||||||||
Equity-Based Compensation: | Equity-Based Compensation: | |||||||||||||||||||||||||||||||||||||||||||||
Stock Options: | Stock Options: | |||||||||||||||||||||||||||||||||||||||||||||
Unvested and accelerated | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Restricted Stock Units: | Restricted Stock Units: | |||||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | 8,443,016 | (4) | 8,443,016 | (4) | 8,443,016 | (4) | — | Unvested and Accelerated | 2,280,029 | (6) | 2,280,029 | (6) | 2,280,029 | (6) | — | |||||||||||||||||||||||||||||||
Dividend Equivalents | 297,911 | (5) | 297,911 | (5) | 297,911 | (5) | — | Dividend Equivalents | 333,703 | (7) | 333,703 | (7) | 333,703 | (7) | — | |||||||||||||||||||||||||||||||
Performance Units: | Performance Units: | |||||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | — | — | — | — | Unvested and Accelerated | 965,252 | 965,252 | 965,252 | — | |||||||||||||||||||||||||||||||||||||
Dividend Equivalents | — | — | — | — | Dividend Equivalents | 44,706 | 44,706 | 44,706 | — | |||||||||||||||||||||||||||||||||||||
Project Focus Awards: | ||||||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | 15,061,316 | (6) | 15,061,316 | (6) | 29,947,197 | (8) | 29,947,197 | (8) | ||||||||||||||||||||||||||||||||||||||
Dividend Equivalents | 872,734 | (7) | 872,734 | (7) | 1,735,302 | (9) | 1,735,302 | (9) | ||||||||||||||||||||||||||||||||||||||
Benefits and Perquisites: | Benefits and Perquisites: | |||||||||||||||||||||||||||||||||||||||||||||
Health & Welfare Benefits (10) | 61,519 | — | 61,519 | — | ||||||||||||||||||||||||||||||||||||||||||
Health & Welfare Benefits (8) | Health & Welfare Benefits (8) | 62,935 | — | 62,935 | — | |||||||||||||||||||||||||||||||||||||||||
Accrued Retirement Benefits (vested): | Accrued Retirement Benefits (vested): | |||||||||||||||||||||||||||||||||||||||||||||
Associates’ Pension Plan (11) | 310,751 | 310,751 | 310,751 | — | ||||||||||||||||||||||||||||||||||||||||||
Excess Benefit Plan (11) | 59,919 | 59,919 | 59,919 | — | ||||||||||||||||||||||||||||||||||||||||||
RSP (11) | 4,791,442 | 4,791,442 | 4,791,442 | — | ||||||||||||||||||||||||||||||||||||||||||
ERP (11) | 13,644,472 | 13,644,472 | 13,644,472 | — | ||||||||||||||||||||||||||||||||||||||||||
Associates’ Pension Plan (9) | Associates’ Pension Plan (9) | 242,672 | 242,672 | 242,672 | — | |||||||||||||||||||||||||||||||||||||||||
Excess Benefit Plan (9) | Excess Benefit Plan (9) | 46,511.89 | 46,512 | 46,512 | — | |||||||||||||||||||||||||||||||||||||||||
ERP (9) | ERP (9) | 8,125,668 | 8,125,668 | 8,125,668 | — | |||||||||||||||||||||||||||||||||||||||||
Other Payments: | Other Payments: | |||||||||||||||||||||||||||||||||||||||||||||
Non-Compete Payments (12) | 3,600,000 | — | 3,600,000 | — | ||||||||||||||||||||||||||||||||||||||||||
Non-Compete Payments (10) | Non-Compete Payments (10) | 3,600,000 | — | 3,600,000 | — | |||||||||||||||||||||||||||||||||||||||||
Total: | $ | 59,919,219 | $ | 43,481,561 | $ | 75,667,668 | $ | 31,682,499 | Total: | $ | 43,753,937 | $ | 14,138,542 | $ | 43,753,937 | $ | — |
Executive Benefits and Payments Upon Termination | Mr. Lukemire | Mr. C. Hagedorn | Ms. Stump | ||||||||||||||||||||
Compensation (1): | |||||||||||||||||||||||
Base Salary (2x annual base salary) | $ | 1,440,000 | $ | 1,300,000 | $ | 1,300,000 | |||||||||||||||||
EIP — Prorated Annual Payout | 900,000 | (2) | — | 585,000 | (2) | ||||||||||||||||||
EIP — Target Payout (2x target amount)(3) | 1,800,000 | 1,170,000 | 1,170,000 | ||||||||||||||||||||
Equity-Based Compensation: | |||||||||||||||||||||||
Stock Options: | |||||||||||||||||||||||
Unvested and Accelerated(4) | — | — | — | ||||||||||||||||||||
Restricted Stock Units: | |||||||||||||||||||||||
Unvested and Accelerated | 781,983 | (6) | 138,083 | (5) | 283,732 | (6) | |||||||||||||||||
Accrued Dividends | 116,057 | (8) | 38,566 | (7) | 41,428 | (8) | |||||||||||||||||
Performance Units: | |||||||||||||||||||||||
Unvested and Accelerated(9) | 321,779 | 172,625 | 120,683 | ||||||||||||||||||||
Dividend Equivalents(10) | 14,903 | 48,214 | 5,590 | ||||||||||||||||||||
Benefits and Perquisites: | |||||||||||||||||||||||
Benefits Offset Payment (11) | 28,395 | 38,867 | 28,401 | ||||||||||||||||||||
Accrued Retirement Benefits: | |||||||||||||||||||||||
Associates’ Pension Plan (12) | 27,641 | — | — | ||||||||||||||||||||
ERP (12) | 4,819,197 | — | 4,235,626 | ||||||||||||||||||||
Total: | $ | 10,249,955 | $ | 2,906,354 | $ | 7,770,460 |
Executive Benefits and Payments Upon Termination | Mr. Coleman | Mr. Lukemire | Ms. Stump | Mr. Smith | |||||||||||||
Compensation (1): | |||||||||||||||||
Base Salary (2x annual base salary) | $ | 1,400,000 | $ | 1,440,000 | $ | 1,300,000 | $ | 1,200,000 | |||||||||
EIP — Prorated Annual Payout | — | 792,000 | (2) | 487,500 | (2) | — | |||||||||||
EIP — Target Payout (2x target amount)(3) | 1,540,000 | 1,584,000 | 975,000 | 900,000 | |||||||||||||
Equity-Based Compensation: | |||||||||||||||||
Stock Options: | |||||||||||||||||
Unvested and Accelerated | — | — | — | — | |||||||||||||
Restricted Stock Units: | |||||||||||||||||
Unvested and Accelerated | — | 3,617,970 | (4) | 1,104,951 | (4) | — | |||||||||||
Accrued Dividends | — | 135,883 | (5) | 39,708 | (5) | — | |||||||||||
Performance Units: | |||||||||||||||||
Unvested and Accelerated | — | — | — | — | |||||||||||||
Dividend Equivalents | — | — | — | — | |||||||||||||
Project Focus Awards: | |||||||||||||||||
Unvested and Accelerated | — | 5,261,650 | (6) | 2,038,844 | (6) | — | |||||||||||
Dividend Equivalents | — | 304,888 | (7) | 118,142 | (7) | — | |||||||||||
Benefits and Perquisites: | |||||||||||||||||
Benefits Offset Payment (8) | 31,830 | 25,621 | 12,574 | 32,986 | |||||||||||||
Accrued Retirement Benefits: | |||||||||||||||||
Associates’ Pension Plan (9) | — | 25,211 | — | — | |||||||||||||
RSP (9) | 1,168,374 | 1,306,945 | 14,480 | 1,228,768 | |||||||||||||
ERP (9) | 1,739,414 | 2,162,498 | 3,194,142 | 1,672,825 | |||||||||||||
Total: | $ | 5,879,618 | $ | 16,656,666 | $ | 9,285,341 | $ | 5,034,579 |
Executive Benefits and Payments Upon Termination | Mr. Coleman | Mr. Lukemire | Ms. Stump | Mr. Smith | ||||||||||||
Compensation (1): | ||||||||||||||||
Base Salary | $ | — | $ | — | $ | 1,300,000 | (2) | $ | — | |||||||
EIP — Prorated Annual Payout (3) | 770,000 | 792,000 | 487,500 | 450,000 | ||||||||||||
EIP — Target Payout (2x target amount) | — | — | 975,000 | (4) | — | |||||||||||
Equity-Based Compensation: | ||||||||||||||||
Stock Options: | ||||||||||||||||
Unvested and Accelerated | — | — | — | — | ||||||||||||
Restricted Stock Units: | ||||||||||||||||
Unvested and Accelerated (5) | 2,450,807 | 3,617,970 | 1,104,951 | 1,082,958 | ||||||||||||
Accrued Dividends (6) | 85,458 | 135,883 | 39,708 | 38,433 | ||||||||||||
Performance Units: | ||||||||||||||||
Unvested and Accelerated | — | — | — | — | ||||||||||||
Dividend Equivalents | — | — | — | — | ||||||||||||
Project Focus Awards: | ||||||||||||||||
Unvested and Accelerated (7) | 2,655,669 | 5,261,650 | 2,038,844 | 1,184,778 | ||||||||||||
Dividend Equivalents (8) | 153,884 | 304,888 | 118,142 | 68,652 | ||||||||||||
Benefits and Perquisites: | ||||||||||||||||
Benefits Offset Payment | — | — | 12,574 | (9) | — | |||||||||||
Accrued Retirement Benefits: | ||||||||||||||||
Associates’ Pension Plan (10) | — | 25,211 | — | — | ||||||||||||
RSP (10) | 1,168,374 | 1,306,945 | 14,480 | 1,228,768 | ||||||||||||
ERP (10) | 1,739,414 | 2,162,498 | 3,194,142 | 1,672,825 | ||||||||||||
Total: | $ | 9,023,606 | $ | 13,607,045 | $ | 9,285,341 | $ | 5,726,414 |
Executive Benefits and Payments Upon Termination | Mr. Lukemire | Mr. C. Hagedorn | Ms. Stump | ||||||||||||||||||||
Compensation (1): | |||||||||||||||||||||||
Base Salary | $ | — | $ | — | $ | 1,300,000 | (2) | ||||||||||||||||
EIP — Prorated Annual Payout (3) | 900,000 | 585,000 | 585,000 | ||||||||||||||||||||
EIP — Target Payout (2x target amount) | — | — | 1,170,000 | (4) | |||||||||||||||||||
Equity-Based Compensation: | |||||||||||||||||||||||
Stock Options: | |||||||||||||||||||||||
Unvested and Accelerated(5) | — | — | — | ||||||||||||||||||||
Restricted Stock Units: | |||||||||||||||||||||||
Unvested and Accelerated (6) | 781,983 | 389,367 | 283,732 | ||||||||||||||||||||
Accrued Dividends (7) | 116,057 | 55,617 | 41,428 | ||||||||||||||||||||
Performance Units: | |||||||||||||||||||||||
Unvested and Accelerated | 321,779 | 333,536 | (8) | 120,683 | |||||||||||||||||||
Dividend Equivalents | 14,903 | 55,667 | (9) | 5,590 | |||||||||||||||||||
Benefits and Perquisites: | |||||||||||||||||||||||
Benefits Offset Payment | — | — | 28,401 | (10) | |||||||||||||||||||
Accrued Retirement Benefits: | |||||||||||||||||||||||
Associates’ Pension Plan (11) | 27,641 | — | — | ||||||||||||||||||||
ERP (11) | 4,819,197 | — | 4,235,626 | ||||||||||||||||||||
Total: | $ | 6,981,560 | $ | 1,419,187 | $ | 7,770,460 |
Executive Benefits and Payments Upon Termination | Mr. Coleman | Mr. Lukemire | Ms. Stump | Mr. Smith | ||||||||||||
Compensation (1): | ||||||||||||||||
Base Salary (2x annual base salary) | $ | 1,400,000 | $ | 1,440,000 | $ | 1,300,000 | $ | 1,200,000 | ||||||||
EIP — Prorated Annual Payout (2) | 770,000 | 792,000 | 487,500 | 450,000 | ||||||||||||
EIP — Target Payout (2x target amount) (3) | 1,540,000 | 1,584,000 | 975,000 | 900,000 | ||||||||||||
Equity-Based Compensation: | ||||||||||||||||
Stock Options: | ||||||||||||||||
Unvested and Accelerated | — | — | — | — | ||||||||||||
Restricted Stock Units: | �� | |||||||||||||||
Unvested and Accelerated (4) | 2,450,807 | 3,617,970 | 1,104,951 | 1,082,958 | ||||||||||||
Accrued Dividends (5) | 85,458 | 135,883 | 39,708 | 38,433 | ||||||||||||
Performance Units: | ||||||||||||||||
Unvested and Accelerated | — | — | — | — | ||||||||||||
Dividend Equivalents | — | — | — | — | ||||||||||||
Project Focus Awards: | ||||||||||||||||
Unvested and Accelerated (6) | 8,500,341 | 10,462,005 | 4,054,065 | 3,792,490 | ||||||||||||
Dividend Equivalents (7) | 492,556 | 606,225 | 234,914 | 219,757 | ||||||||||||
Benefits and Perquisites: | ||||||||||||||||
Benefits Offset Payment (8) | 31,830 | 25,621 | 12,574 | 32,986 | ||||||||||||
Accrued Retirement Benefits: | ||||||||||||||||
Associates’ Pension Plan (9) | — | 25,211 | — | — | ||||||||||||
RSP (9) | 1,168,374 | 1,306,945 | 14,480 | 1,228,768 | ||||||||||||
ERP (9) | 1,739,414 | 2,162,498 | 3,194,142 | 1,672,825 | ||||||||||||
Total: | $ | 18,178,780 | $ | 22,158,358 | $ | 11,417,334 | $ | 10,618,217 |
Executive Benefits and Payments Upon Termination | Mr. Lukemire | Mr. C. Hagedorn | Ms. Stump | ||||||||||||||||||||
Compensation (1): | |||||||||||||||||||||||
Base Salary (2x annual base salary) | $ | 1,440,000 | $ | 1,300,000 | $ | 1,300,000 | |||||||||||||||||
EIP — Prorated Annual Payout (2) | 900,000 | 585,000 | 585,000 | ||||||||||||||||||||
EIP — Target Payout (2x target amount) (3) | 1,800,000 | 1,170,000 | 1,170,000 | ||||||||||||||||||||
Equity-Based Compensation: | |||||||||||||||||||||||
Stock Options: | |||||||||||||||||||||||
Unvested and Accelerated(4) | — | — | — | ||||||||||||||||||||
Restricted Stock Units: | |||||||||||||||||||||||
Unvested and Accelerated (5) | 781,983 | 389,367 | 283,732 | ||||||||||||||||||||
Accrued Dividends (6) | 116,057 | 55,617 | 41,428 | ||||||||||||||||||||
Performance Units: | |||||||||||||||||||||||
Unvested and Accelerated | 321,779 | 333,536 | (7) | 120,683 | |||||||||||||||||||
Dividend Equivalents | 14,903 | 55,667 | (8) | 5,590 | |||||||||||||||||||
Benefits and Perquisites: | |||||||||||||||||||||||
Benefits Offset Payment (9) | 28,395 | 38,867 | 28,401 | ||||||||||||||||||||
Accrued Retirement Benefits: | |||||||||||||||||||||||
Associates’ Pension Plan (10) | 27,641 | — | — | ||||||||||||||||||||
ERP (10) | 4,819,197 | — | 4,235,626 | ||||||||||||||||||||
Total: | $ | 10,249,955 | $ | 3,928,054 | $ | 7,770,460 |
Executive Benefits and Payments Upon Termination | Mr. Coleman | Mr. Lukemire | Ms. Stump | Mr. Smith | ||||||||||||
Compensation (1): | ||||||||||||||||
Base Salary (2x annual base salary) | $ | — | $ | — | $ | — | $ | — | ||||||||
EIP — Prorated Annual Payout | — | — | — | — | ||||||||||||
EIP — Target Payout (2x target) | — | — | — | — | ||||||||||||
Equity-Based Compensation: | ||||||||||||||||
Stock Options: | ||||||||||||||||
Unvested and Accelerated | — | — | — | — | ||||||||||||
Restricted Stock Units: | ||||||||||||||||
Unvested and Accelerated (2) | — | — | — | — | ||||||||||||
Accrued Dividends (2) | — | — | — | — | ||||||||||||
Performance Units: | ||||||||||||||||
Unvested and Accelerated (2) | — | — | — | — | ||||||||||||
Dividend Equivalents (2) | — | — | — | — | ||||||||||||
Project Focus Awards: | ||||||||||||||||
Unvested and Accelerated (3) | 8,500,341 | 10,462,005 | 4,054,065 | 3,792,490 | ||||||||||||
Dividend Equivalents (4) | 492,556 | 606,225 | 234,914 | 219,757 | ||||||||||||
Benefits and Perquisites: | ||||||||||||||||
Benefits Offset Payment | — | — | — | — | ||||||||||||
Accrued Retirement Benefits: | ||||||||||||||||
Associates’ Pension Plan | — | — | — | — | ||||||||||||
RSP | — | — | — | — | ||||||||||||
ERP | — | — | — | — | ||||||||||||
Total: | $ | 8,992,897 | $ | 11,068,230 | $ | 4,288,979 | $ | 4,012,247 |
Mr. Lukemire | Mr. C. Hagedorn | Ms. Stump |
Compensation (1): | ||||||||||||||||||||
$ | — | $ | — | $ | — |
EIP — Prorated Annual Payout | — | — | — | |||||||||||||||||
EIP — Target Payout (2x target) | — | — | — | |||||||||||||||||
Equity-Based Compensation: | ||||||||||||||||||||
— | — | — | ||||||||||||||||||
Restricted Stock Units: | ||||||||||||||||||||
Unvested and | — | — | — | |||||||||||||||||
Accrued Dividends (2) | — | — | — | |||||||||||||||||
Performance Units: | ||||||||||||||||||||
Unvested and Accelerated (2) | — | — | — | |||||||||||||||||
Dividend Equivalents (2) | — | — | — | |||||||||||||||||
Benefits and Perquisites: | ||||||||||||||||||||
Benefits Offset Payment | — | — | — | |||||||||||||||||
Accrued Retirement Benefits: | ||||||||||||||||||||
Associates’ Pension Plan | — | — | — | |||||||||||||||||
ERP | — | — | — | |||||||||||||||||
Total: | $ | — | $ | — | $ | — |
Proforma | |||||
Shares Underlying Outstanding Equity Awards as reported on Form 10-K as of September 30, 2022 | 962,302 | ||||
Awards settled between October 1, 2022 and December 1, 2022 | (2,276) | ||||
Awards cancelled between October 1, 2022 and December 1, 2022 | (11,774) | ||||
Awards granted between October 1, 2022 and December 1, 2022 (Options and full-value awards) | 1,526,724 | ||||
Shares reserved for incremental performance above target (2020 PU Awards and 2022 PU Awards) | 138,049 | ||||
Actual equity awards outstanding as of December 1, 2022 | 2,613,025 |
Proforma | |||||
Shares available to underlie new grants as reported on Form 10-K as of Sept 30, 2022 | 3,392,406 | ||||
Awards cancelled or settled without issuance of shares between October 1, 2022 and December 1, 20221 (returned to share pool) | 19,542 | ||||
Options granted between October 1, 2022 and December 1, 2022 | (632,457) | ||||
Full-value awards granted between October 1, 2022 and December 1, 2022 | (894,267) | ||||
2:1 full value adjustment factor for awards granted between October 1, 2022 and December 1, 2022 | (894,267) | ||||
Shares reserved for performance above target (2020 PU Awards and 2022 PU Awards)1 | (276,098) | ||||
Actual shares available for future grant under the Plan as of December 1, 2022 | 714,859 |
Proforma | |||||
Stock Options Outstanding as of December 1, 2022 | 1,155,552 | ||||
Weighted Average Exercise Price of Stock Options Outstanding as of December 1, 2022 | $ | 75.44 | |||
Weighted Average Remaining Term of Stock Options Outstanding as of December 1, 2022 | 7.6 | ||||
Outstanding Full Value Awards under the Plan as of December 1, 2022 | 1,457,473 | ||||
Common Shares Available for Grant under the Plan as of December 1, 2022 | 714,859 | ||||
Common Shares Requested | 2,300,000 |
Before Share Authorization (proforma) | After Share Authorization (proforma) | ||||||||||
Total Equity Awards Outstanding + Shares Available for Grant (A) | 3,327,884 | 5,627,884 | |||||||||
Common Shares Outstanding as of December 1, 2022 (B) | 55,452,041 | 55,452,041 | |||||||||
Fully Diluted Common Shares (C ) | 58,779,925 | 61,079,925 | |||||||||
Simple Overhang (A ÷ B) | 6.0% | 10.1% | |||||||||
Fully Diluted Overhang (A ÷ C) | 5.7% | 9.2% |
Fiscal Year | Stock Options | Full Value Awards | Weighted Average Common Shares Outstanding as of September 30 | Traditional Run Rate | ||||||||||||||||||||||
2022 | — | 354,329 | 55,500,000 | 0.64% | ||||||||||||||||||||||
2021 | 183,553 | 82,102 | 55,700,000 | 0.48% | ||||||||||||||||||||||
2020 | 37,255 | 158,095 | 55,700,000 | 0.35% |
Plan Category | (a) Number of Common Shares to be Issued Upon Exercise of Outstanding Options, Warrants and Rights | (b) Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights | (c) Number of Common Shares Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Common Shares Reflected In Column(a)) | |||||
Equity compensation plans approved by shareholders | 1,998,928 (1) | $59.52 (2) | 3,265,412 (3) | |||||
Equity compensation plans not approved by shareholders | n/a (4) | n/a (5) | n/a (5) | |||||
Total | 1,998,928 | $59.52 (2) | 3,265,412 |
Plan Category | (a) Number of Common Shares to be Issued Upon Exercise of Outstanding Options, Warrants and Rights | (b) Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights | (c) Number of Common Shares Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Common Shares Reflected In Column(a)) | ||||||||||||||||||||
Equity compensation plans approved by shareholders | 962,302 | (1) | $ | 110.86 | (2) | 3,569,239 | (3) | ||||||||||||||||
Equity compensation plans not approved by shareholders | n/a | (4) | n/a | n/a | (5) | ||||||||||||||||||
Total | 962,302 | $ | 110.86 | (2) | 3,569,239 |
Amount and Nature of Beneficial Ownership(1) | |||||||||||||||
Name and Address of Beneficial Owner | Common Shares Presently Held | Common Share Equivalents Presently Held(2) | Options(3) | Total | Percent of Class | ||||||||||
Thomas Randal Coleman (4) | — | 6,991(5) | — | 6,991(6) | * | ||||||||||
David C. Evans | — | 1,575(7) | — | 1,575(8) | * | ||||||||||
Brian D. Finn | 16,472(9) | 7,803(10) | — | 24,275(11) | * | ||||||||||
James Hagedorn (4) | 15,113,858(12) | 24,629(13) | 512,887(14) | 15,651,374(15) | 27.77 | % | |||||||||
Adam Hanft | 25,513 | 10,837(16) | — | 36,350(17) | * | ||||||||||
Stephen L. Johnson | 11,202 | 5,143(18) | — | 16,345(19) | * | ||||||||||
Thomas N. Kelly Jr. | 12,335 | 4,268(20) | — | 16,603(21) | * | ||||||||||
Katherine Hagedorn Littlefield | 15,057,505(22) | 4,268(23) | — | 15,061,773(24) | 26.98 | % | |||||||||
Michael C. Lukemire (4) | 527(25) | 11,831(26) | 107,091(27) | 119,449(28) | * | ||||||||||
James F. McCann | 10,188 | 4,268(29) | — | 14,456(30) | * | ||||||||||
Nancy G. Mistretta | 11,978 | 4,268(31) | — | 16,246(32) | * | ||||||||||
Peter E. Shumlin | — | 6,664(33) | — | 6,664(34) | * | ||||||||||
Ivan C. Smith (4) | 9,387(35) | 3,119(36) | — | 12,506(37) | * | ||||||||||
Denise S. Stump (4) | 367(38) | 3,335(39) | 9,529(40) | 13,231(41) | * | ||||||||||
John R. Vines | 1,735 | 5,078(42) | — | 6,813(43) | * | ||||||||||
All current directors and executive officers as a group (16 individuals) | 15,214,316 | 106,229 | 629,507 | 15,950,052(44) | 28.20 | % | |||||||||
Hagedorn Partnership, L.P. | 15,057,505(45) | — | — | 15,057,505 | 26.98 | % | |||||||||
44 South Bayles Ave., Suite 218, Port Washington, NY 11050 | |||||||||||||||
The Vanguard Group (46) | 3,777,287(47) | — | — | 3,777,287 | 6.77 | % | |||||||||
100 Vanguard Blvd. Malvern, PA 19355 | |||||||||||||||
BlackRock, Inc. (48) | 3,632,451(49) | — | — | 3,632,451 | 6.51 | % | |||||||||
55 East 52nd Street New York, NY 10055 | |||||||||||||||
First Eagle Investment Management, LLC (50) | 2,866,003(51) | — | — | 2,866,003 | 5.13 | % | |||||||||
1345 Avenue of the Americas New York, NY 10105 |
Amount and Nature of Beneficial Ownership(1) | ||||||||||||||||||||||||||||||||
Name and Address of Beneficial Owner | Common Shares Presently Held | Common Share Equivalents Presently Held(2) | Options(3) | Total | Percent of Class | |||||||||||||||||||||||||||
Edith Avilés (4) | — | — | — | — | * | |||||||||||||||||||||||||||
David C. Evans (5) | 2,655 | — | — | 2,655(6) | * | |||||||||||||||||||||||||||
Brian D. Finn | 7,453 | 5,309(7) | — | 12,762(8) | * | |||||||||||||||||||||||||||
Christopher J. Hagedorn (5) | 32,224(9) | — | 9,425(10) | 41,649(11) | * | |||||||||||||||||||||||||||
James Hagedorn (5) | 14,349,089(12) | — | 525,582(13) | 14,874,671(14) | 26.57 | % | ||||||||||||||||||||||||||
Adam Hanft | 23,305 | 2,440(15) | — | 25,745(16) | * | |||||||||||||||||||||||||||
Stephen L. Johnson | 12,484 | 2,780(17) | — | 15,264(18) | * | |||||||||||||||||||||||||||
Thomas N. Kelly Jr. | 7,085 | 2,440(19) | — | 9,525(20) | * | |||||||||||||||||||||||||||
Katherine Hagedorn Littlefield | 14,117,430(21) | 2,440(22) | — | 14,119,870(23) | 25.46 | % | ||||||||||||||||||||||||||
Michael C. Lukemire (5) | 90,794(24) | — | 80,578(25) | 171,372(26) | * | |||||||||||||||||||||||||||
Cory J. Miller (5)(27) | 10,215(28) | — | — | 10,215(29) | * | |||||||||||||||||||||||||||
Nancy G. Mistretta | 13,728 | 2,440(30) | — | 16,168(31) | * | |||||||||||||||||||||||||||
Brian E. Sandoval | — | — | — | —(32) | * | |||||||||||||||||||||||||||
Peter E. Shumlin | 5,261 | 4,785(33) | — | 10,046(34) | * | |||||||||||||||||||||||||||
Denise S. Stump (5) | 35,895(35) | — | 29,933(36) | 65,828(37) | * | |||||||||||||||||||||||||||
John R. Vines | 8,634 | 2,903(38) | — | 11,537(39) | * | |||||||||||||||||||||||||||
Gerald Volas | 6,000 | 450(40) | — | 6,450(41) | * | |||||||||||||||||||||||||||
All current directors and executive officers as a group (16 individuals) | 14,640,922 | 25,987 | 645,518 | 15,312,427(42) | 27.28 | % | ||||||||||||||||||||||||||
Hagedorn Partnership, L.P. | 14,114,775(43) | — | — | 14,114,775 | 25.45 | % | ||||||||||||||||||||||||||
44 South Bayles Ave., Suite 218, Port Washington, NY 11050 | ||||||||||||||||||||||||||||||||
Kayne Anderson Rudnick Investment Management LLC (44) | 4,945,315(45) | — | — | 4,945,315 | 8.92 | % | ||||||||||||||||||||||||||
1800 Avenue of the Stars, 2nd Floor Los Angeles, CA 90067 | ||||||||||||||||||||||||||||||||
The Vanguard Group (46) | 4,145,748(47) | — | — | 4,145,748 | 7.47 | % | ||||||||||||||||||||||||||
100 Vanguard Blvd. Malvern, PA 19355 | ||||||||||||||||||||||||||||||||
BlackRock, Inc. (48) | 3,504,218(49) | — | — | 3,504,218 | 6.32 | % | ||||||||||||||||||||||||||
55 East 52nd Street New York, NY 10055 | ||||||||||||||||||||||||||||||||
EARNEST Partners, LLC (50) | 2,829,068(51) | — | — | 2,829,068 | 5.10 | % | ||||||||||||||||||||||||||
1180 Peachtree St. NE, Suite 2300 Atlanta, GA 30309 |
THE SCOTTS MIRACLE-GRO CO. | Meeting Information | |||||||||||||
Meeting Type: | Annual | |||||||||||||
For holders as of: | November 29, 2022 | |||||||||||||
Date: January 23, 2023Time: 9:00 AM Eastern Time | ||||||||||||||
Location: | Meeting live via the Internet-please visit http://www.virtualshareholdermeeting.com/SMG2023 | |||||||||||||
The company will be hosting the meeting live via the Internet this year. To attend the meeting via the Internet please visit www.virtualshareholdermeeting.com/SMG2023 and be sure to have the information that is printed in the box marked by the arrow ---> XXXX XXXX XXXX XXXX (located on the following page). | ||||||||||||||
THE SCOTTS MIRACLE-GRO COMPANY ATTN: KATHY UTTLEY — PARALEGAL 14111 SCOTTSLAWN ROAD MARYSVILLE, OH 43041 | You are receiving this communication because you hold shares in the company named above. | |||||||||||||
This is not a ballot. You cannot use this notice to vote these shares. This communication presents only an overview of the more complete proxy materials that are available to you on the Internet. You may view the proxy materials online at www.proxyvote.com or easily request a paper copy (see reverse side). | ||||||||||||||
We encourage you to access and review all of the important information contained in the proxy materials before voting. | ||||||||||||||
See the reverse side of this notice to obtain proxy materials and voting instructions. |
Proxy Materials Available to VIEW or RECEIVE: | |||||||||||
NOTICE OF THE 2023 ANNUAL MEETING AND PROXY STATEMENT | 2022 ANNUAL REPORT | ||||||||||
How to View Online: | |||||||||||
Have the information that is printed in the box marked by the arrow à XXXX XXXX XXXX XXXX (located on the following page) and visit: www.proxyvote.com. | |||||||||||
How to Request and Receive a PAPER or E-MAIL Copy: | |||||||||||
If you want to receive a paper or e-mail copy of these documents, you must request one. There is NO charge for requesting a copy. Please choose one of the following methods to make your request: | |||||||||||
1) BY INTERNET: | www.proxyvote.com | ||||||||||
2) BY TELEPHONE: | 1-800-579-1639 | ||||||||||
3) BY E-MAIL*: | sendmaterial@proxyvote.com | ||||||||||
* If requesting materials by e-mail, please send a blank e-mail with the information that is printed in the box marked by the arrow à XXXX XXXX XXXX XXXX (located on the following page) in the subject line. | |||||||||||
Requests, instructions and other inquiries sent to this e-mail address will NOT be forwarded to your investment advisor. Please make the request as instructed above on or before January 9, 2023 to facilitate timely delivery. |
Vote By Internet: | ||||||||||||||
Before The Meeting: | ||||||||||||||
Go to www.proxyvote.com. Have the information that is printed in the box marked by the arrow àXXXX XXXX XXXX XXXX (located on the following page) available and follow the instructions. | ||||||||||||||
During The Meeting: | ||||||||||||||
Go to www.virtualshareholdermeeting.com/SMG2023. Have the information that is printed in the box marked by the arrow àXXXX XXXX XXXX XXXX (located on the following page) available and follow the instructions. | ||||||||||||||
Vote By Mail: You can vote by mail by requesting a paper copy of the materials, which will include a proxy card. |
Voting Items | |||||||||||||||||||||||||||||
Your Board of Directors recommends you vote FOR the following: | |||||||||||||||||||||||||||||
1. | Election of four directors, each to serve for a term of three years to expire at the 2026 Annual Meeting of Shareholders: | ||||||||||||||||||||||||||||
Nominees: | |||||||||||||||||||||||||||||
01) James Hagedorn | |||||||||||||||||||||||||||||
02) Nancy G. Mistretta | |||||||||||||||||||||||||||||
03) Gerald Volas | |||||||||||||||||||||||||||||
04) Edith Aviles | |||||||||||||||||||||||||||||
Your Board of Directors recommends that you vote FOR the following proposals: | |||||||||||||||||||||||||||||
2. | Approval, on an advisory basis, of the compensation of the Company’s named executive officers. | ||||||||||||||||||||||||||||
3. | Ratification of the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending September 30, 2023. | ||||||||||||||||||||||||||||
4. | Approval of an amendment and restatement of The Scotts Miracle-Gro Company Long-Term Incentive Plan to, among other things, increase the maximum number of common shares available for grant to participants. | ||||||||||||||||||||||||||||
THE SCOTTS MIRACLE-GRO CO. ATTN: KATHY UTTLEY — PARALEGAL 14111 SCOTTSLAWN ROAD MARYSVILLE, OH 43041 | VOTE BY INTERNET Before The Meeting — Go to www.proxyvote.com Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 PM Eastern Time on January During The Meeting — Go to www.virtualshareholdermeeting.com/ You may attend the Meeting via the Internet and vote during the Meeting. Have the information that is printed in the box marked by the arrow available and follow the instructions. | |||||||
ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS If you would like to reduce the costs incurred by The Scotts Miracle-Gro Company in mailing proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail or the Internet. To sign up for electronic delivery, please follow the instructions above to vote using the Internet and, when prompted, indicate that you agree to receive or access proxy materials electronically in future years. | ||||||||
VOTE BY PHONE — 1-800-690-6903 Use any touch-tone telephone to transmit your voting instructions up until 11:59 PM Eastern Time on January | ||||||||
VOTE BY MAIL Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to The Scotts Miracle-Gro Company, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717. |
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: | |||||
E53514-P15388-Z73574 | KEEP THIS PORTION FOR YOUR RECORDS | ||||
THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. | DETACH AND RETURN THIS PORTION ONLY | ||||
THE SCOTTS MIRACLE-GRO COMPANY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Your Board of Directors recommends you vote FOR the following: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1. | Election of | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nominees: | For | Against | Abstain | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
¨ | ¨ | ¨ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
¨ | ¨ | ¨ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1c. Gerald Volas | ¨ | ¨ | ¨ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1d. Edith Aviles | ¨ | ¨ | ¨ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Your Board of Directors recommends that you vote FOR the following proposals: | For | Against | Abstain | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2. | Approval, on an advisory basis, of the compensation of the Company's named executive officers. | ¨ | ¨ | ¨ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3. | Ratification of the selection of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending September 30, | ¨ | ¨ | ¨ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4. | Approval of an amendment and restatement of The Scotts Miracle-Gro Company Long-Term Incentive Plan to, among other things, increase the maximum number of common shares available for grant to participants. | ¨ | ¨ | ¨ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The undersigned shareholder(s) authorize(s) the individuals designated to vote this proxy to vote, in their discretion, to the extent permitted by applicable law, upon such other matters (none known by the Company at the time of solicitation of this proxy) as may properly come before the Annual Meeting or any adjournment or postponement. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Please sign exactly as your name appears hereon. The signer hereby revokes all prior proxies heretofore given by the signer to vote at said meeting or any adjournments thereof. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note: Please fill in, sign, date and return this proxy card in the enclosed envelope. When signing as Attorney, Executor, Administrator, Trustee or Guardian, please give full title as such. If shareholder is a corporation, please sign the full corporate name by an authorized officer. If shareholder is a partnership or other entity, an authorized person should sign in the entity's name. Joint Owners must each sign individually. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Date | Signature (Joint Owners) | Date |
E53515-P15388-Z73574 | ||||||||
THE SCOTTS MIRACLE-GRO COMPANY | ||||||||
PROXY FOR ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JANUARY | ||||||||
The holder(s) of common shares of The Scotts Miracle-Gro Company (the "Company") identified on this proxy card hereby appoint(s) James Hagedorn and | ||||||||
Where a choice is indicated, the common shares represented by this proxy card, when properly executed and returned, will be voted or not voted as specified. If no choice is indicated, the common shares represented by this proxy card when properly executed and returned will be voted "FOR" the election of the nominees listed in Proposal Number 1 as directors of the Company, to the extent permitted by applicable law, "FOR" approval, on an advisory basis, of the compensation of the Company's named executive officers as set forth in Proposal Number 2, | ||||||||
If common shares are allocated to the account of a shareholder under The Scotts Company LLC Retirement Savings Plan (the “RSP”), then the shareholder hereby directs the Trustee of the RSP to vote all common shares of the Company allocated to such account under the RSP in accordance with the instructions given herein, at the Company’s Annual Meeting and at any adjournment or postponement, on the matters set forth on the reverse side. If no instructions are given, the proxy will not be voted by the Trustee of the RSP. | ||||||||
The shareholder(s) hereby acknowledge(s) receipt of the Notice of Annual Meeting of Shareholders and the related Proxy Statement for the January | ||||||||
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE SCOTTS MIRACLE-GRO COMPANY. | ||||||||
(This proxy card continues and must be signed and dated on the reverse side.) | ||||||||