UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) |
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o | Soliciting Material under §240.14a-12 |
Acushnet Holdings Corp. | ||||||||||||||
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Annual Meeting Information Date June 6, 2022 | Dear Acushnet Stockholder: You are cordially invited to attend the 2022 Annual Meeting of Stockholders of Acushnet Holdings Corp. to be held on June 6, 2022, beginning at 9:00 a.m. Eastern Daylight Time. For your convenience and to maintain safe social distancing, we are pleased to inform you that the Annual Meeting will be a completely virtual meeting, which will be conducted via live webcast. You may attend the Annual Meeting online, vote your shares electronically and submit your questions related to proposals (1) - (3) below during the Annual Meeting by visiting www.virtualshareholdermeeting.com/GOLF2022. Details regarding how to attend the meeting online and the business to be conducted at the Annual Meeting are more fully described in the accompanying Notice of Annual Meeting and Proxy Statement. Proxy materials, which include a Notice of the Internet Availability of Proxy Materials, proxy statement and proxy card, accompany this letter. The enclosed proxy statement is first being mailed or made available to stockholders of Acushnet Holdings Corp. on or about April 14, 2022. We have also enclosed our 2021 Annual Report. At the Annual Meeting, you will be asked to consider and vote: | |||||||||||||
Time 9:00 a.m. EDT | ||||||||||||||
Location Live webcast | ||||||||||||||
01 | To elect as directors the following nominees recommended by the Board of Directors: Jennifer Estabrook, Gregory Hewett, David Maher, Jan Singer, Sean Sullivan, Steven Tishman, Yoon Soo (Gene) Yoon and Keun Chang (Kevin) Yoon; | |||||||||||||
02 | To ratify the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm of the Company for the fiscal year ending December 31, 2022; | |||||||||||||
03 | To approve, in a non-binding advisory vote, the compensation paid to the named executive officers; and | |||||||||||||
04 | To conduct any other business properly brought before the meeting. | |||||||||||||
Our Board of Directors unanimously recommends that you (i) approve the election of the individuals nominated to serve as directors; (ii) ratify the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm; and (iii) approve the compensation paid to the named executive officers. Your vote is important to us and our business. Even if you plan to attend the Annual Meeting, you are requested to sign, date and return the proxy card in the enclosed envelope or to vote by Internet or telephone pursuant to the instructions set forth in the enclosed proxy statement. We appreciate your continued support of Acushnet Holdings Corp. | ||||||||||||||
333 Bridge St. Fairhaven, MA 02719 April 14, 2022 | Sincerely, David E. Maher President and Chief Executive Officer |
Notice of 2022 Annual Meeting of Stockholders | |||||
Annual Meeting Information Date June 6, 2022 | The 2022 Annual Meeting of Stockholders of Acushnet Holdings Corp. will be held at 9:00 a.m. Eastern Daylight Time on June 6, 2022. You can attend the Annual Meeting online, vote your shares electronically and submit your questions during the Annual Meeting by visiting www.virtualshareholdermeeting.com/GOLF2022. You will need your 16-Digit Control Number included on your Notice of Internet Availability of Proxy Materials or your proxy card (if you received a printed copy of the proxy materials) to join the Annual Meeting. The Annual Meeting will be held for the following purposes: | |||||||||||||
Time 9:00 a.m. EDT | ||||||||||||||
01 | To elect as directors the following nominees recommended by the Board of Directors: Jennifer Estabrook, Gregory Hewett, David Maher, Jan Singer, Sean Sullivan, Steven Tishman, Yoon Soo (Gene) Yoon and Keun Chang (Kevin) Yoon; | |||||||||||||
Location Live webcast | ||||||||||||||
02 | To ratify the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm of the Company for the fiscal year ending December 31, 2022; | |||||||||||||
03 | To approve, in a non-binding advisory vote, the compensation paid to the named executive officers; and | |||||||||||||
04 | To conduct any other business properly brought before the meeting. | |||||||||||||
Only stockholders of record at the close of business on April 14, 2022 (the "Record Date") are entitled to notice of and to vote at the Annual Meeting and at any adjournment or postponement thereof. A list of such stockholders will be open to examination, during regular business hours, by any stockholders for at least ten days prior to the Annual Meeting at our offices at 333 Bridge Street, Fairhaven, Massachusetts 02719, and electronically during the Annual Meeting at www.virtualshareholdermeeting.com/GOLF2022 when you enter your 16-Digit Control Number. Stockholders holding a majority of the voting power of the issued and outstanding shares of the Company entitled to vote, present or represented by proxy, at the Annual Meeting will constitute a quorum. | ||||||||||||||
333 Bridge St. Fairhaven, MA 02719 April 14, 2022 | By Order of the Board of Directors, Roland A. Giroux Executive Vice President, Chief Legal Officer and Corporate Secretary |
YOUR VOTE IS IMPORTANT You are cordially invited to attend the Annual Meeting. Whether or not you expect to attend the Annual Meeting, you are requested to read the enclosed proxy statement and to vote by mail by marking, signing, dating and returning the accompanying proxy as soon as possible or by Internet or telephone pursuant to the instructions set forth in the proxy statement. If you prefer, you may also cast your vote electronically when attending the Annual Meeting virtually. If you hold your shares in "street name," your broker, bank or other nominee cannot vote your shares on your behalf with respect to Proposals 1 or 3 until it receives your voting instructions. If you do not provide voting instructions over the Internet, by telephone or by returning a voting instruction form, your shares will not be voted with respect to those matters, except that if your shares are held by a broker, your broker may vote shares on your behalf on Proposal 2 without instruction. Details regarding how to attend the meeting online and the business to be conducted at the Annual Meeting are more fully described in the accompanying Notice of Annual Meeting and Proxy Statement. |
Table of Contents | |||||
General Information About The Annual Meeting and Voting | |||||
Proposal 1–Election of Directors | |||||
Information About Our Board of Directors and Corporate Governance | |||||
Corporate Governance Guidelines | |||||
Board Leadership Structure | |||||
Stockholder Engagement | |||||
Meetings of the Board of Directors and its Committees | |||||
Executive Sessions | |||||
Role of the Board in Risk Oversight | |||||
Director Nominations | |||||
Code of Business Conduct and Ethics | |||||
Corporate Social Responsibility | |||||
Controlled Company Exemption | |||||
Director Independence | |||||
Compensation Committee Interlocks and Insider Participation | |||||
Proposal 2–Ratification of Independent Registered Public Accounting Firm | |||||
Report of the Audit Committee | |||||
Proposal 3–Non-Binding Vote on Executive Compensation | |||||
Executive Compensation–Compensation Discussion and Analysis | |||||
Introduction | |||||
Impact of the COVID-19 Pandemic | |||||
Executive Compensation Governance Practices and Principles | |||||
Role of the Compensation Committee, the Board and Executives in Compensation Decisions | |||||
Say on Pay Vote Outcome and Stockholder Engagement | |||||
Resources Guiding Compensation Decisions | |||||
Components of our Executive Compensation Program | |||||
Base Salary | |||||
Annual Cash Incentives | |||||
Long-Term Incentives | |||||
Benefits and Perquisites | |||||
Retirement Plans | |||||
Retiree Health Benefits | |||||
Deferred Compensation | |||||
Severance and Change in Control Arrangements |
Executive Agreements | |||||
Stock Ownership Policy | |||||
Clawback Policy | |||||
Executive Hedging and Pledging Policy | |||||
Compensation Risk Assessment | |||||
Tax Considerations | |||||
Report of the Compensation Committee | |||||
Summary Compensation Table | |||||
Grants of Plan-Based Awards in 2021 | |||||
Outstanding Equity Awards as of December 31, 2021 | |||||
Stock Vested in 2021 | |||||
Pension Benefits for 2021 | |||||
Nonqualified Deferred Compensation for 2021 | |||||
Potential Payments Upon Termination or Change in Control | |||||
Severance and Change in Control Arrangements | |||||
Director Compensation | |||||
Securities Authorized for Issuance under Equity Compensation Plans | |||||
Pay Ratio Disclosure | |||||
Principal Stockholders | |||||
Certain Relationships and Related Party Transactions | |||||
Other Matters |
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Proxy Statement for the 2022 Annual Meeting of Stockholders | |||||
Date June 6, 2022 | GENERAL INFORMATION This proxy statement and the enclosed form of proxy are furnished in connection with the solicitation of proxies by our Board of Directors for use at the Unless otherwise indicated, the terms "Company," "Acushnet," "we," "our" and "us" are used in this proxy statement to refer to Acushnet Holdings Corp. and its consolidated subsidiaries. The terms "Board" and "Board of Directors" refer to our Board of Directors. The term "Magnus" refers to Magnus Holdings Co., Ltd., a wholly-owned subsidiary of Fila Holdings Corp. ("Fila"), which controls a majority of the voting power of all outstanding shares of our common stock as of the close of business on April 14, The information provided in the "question and answer" format below is for your convenience only and is merely a summary of the information contained in this proxy statement. You are encouraged to read this entire proxy statement carefully before deciding how to vote. | ||||||||||||||||
Time 9:00 a.m. EDT | |||||||||||||||||
Location Live webcast | |||||||||||||||||
QUESTIONS AND ANSWERS | |||||||||||||||||
Q | What is a proxy statement and what is a proxy? | ||||||||||||||||
A | A proxy statement is a document that U.S. Securities and Exchange Commission (the "SEC") regulations require us to give you when we ask you to sign a proxy designating individuals to vote on your behalf. A proxy is your legal designation of another person to vote the stock you own. This other person is called a proxy or proxy holder. If you designate someone as your proxy in a written document, that document also is called a proxy or a proxy card. We have designated Thomas Pacheco, our Executive Vice President, Chief Financial Officer and Chief Accounting Officer, and | ||||||||||||||||
2 | Acushnet Holdings Corp. | 2022 Proxy Statement |
GENERAL INFORMATION | |||||||||||
Q | What is the Notice of Internet Availability of Proxy Materials that I received instead of complete proxy materials? | ||||||||||||||||
A | SEC rules allow companies to furnish proxy materials, including this proxy statement and our Annual Report, by providing access to these documents on the Internet instead of mailing printed copies of our proxy materials to stockholders. Most stockholders have received a Notice of Internet Availability of Proxy Materials (the If you want a paper copy of the proxy materials for the Annual Meeting and for all future meetings, please follow the instructions in the Notice for requesting such materials. The electronic delivery option lowers costs and reduces the environmental impact of printing and distributing the materials. | ||||||||||||||||
Q | How can I access the proxy materials over the Internet? | ||||||||||||||||
A | You may view and also download our proxy materials, including our | ||||||||||||||||
Q | Who can vote at the Annual Meeting? | ||||||||||||||||
A | Only stockholders of record as of the Record Date will be entitled to vote at the Annual Meeting. On the Record Date, there were Stockholder of Record: Shares Registered in Your Name If, on the Record Date, your shares were registered directly in your name with our transfer agent, Computershare, then you are a stockholder of record. As a stockholder of record, you may attend the Annual Meeting and vote electronically during the Annual Meeting or vote by proxy, or follow the instructions under "How do I vote?" to vote prior to the Annual Meeting. Whether or not you plan to attend the meeting, we urge you to vote by proxy or in advance of the meeting to ensure your vote is counted if you decide not to or are unable to attend the virtual Annual Meeting. |
2022 Proxy Statement | Acushnet Holdings Corp. | 3 |
GENERAL INFORMATION | |||||||||||
CONTINUED FROM PREVIOUS PAGE | |||||||||||||||||
A | Beneficial Owner: Shares Registered in the Name of a Broker or Bank ("Street Name") If, on the Record Date, your shares were held in an account at a broker, bank or other similar organization, then you are the beneficial owner of shares held in "street name" and our proxy materials are being forwarded to you by that organization. The organization holding your account is considered to be the stockholder of record for purposes of voting at the Annual Meeting. As a beneficial owner, you have the right to direct your broker or other agent regarding how to vote the shares in your account. You are also able to vote your shares online or by telephone in advance of the Annual Meeting or during the virtual Annual Meeting by following the instructions under "How do I vote?". To participate and vote your shares at the Annual Meeting or in advance of the Annual Meeting, you will need the 16-Digit Control Number included on your Notice, on your proxy card or on the instructions that accompanied your proxy materials. Whether or not you plan to attend the meeting, we urge you to vote by proxy or in advance of the meeting to ensure your vote is counted if you decide not to or are unable to attend the virtual Annual Meeting. | ||||||||||||||||
Q | What am I being asked to vote on? | ||||||||||||||||
A | There are three proposals scheduled to be voted on at the meeting: •Election of Ms. Jennifer Estabrook, Mr. Gregory Hewett, Mr. David Maher, Ms. Jan Singer, Mr. Sean Sullivan, Mr. Steven Tishman, •Ratification of the appointment of PricewaterhouseCoopers LLP as Acushnet's independent registered public accounting firm for the fiscal year ending December 31, •Approval, in a non-binding advisory vote, of the compensation paid to the named executive officers. |
4 | Acushnet Holdings Corp. | 2022 Proxy Statement |
GENERAL INFORMATION | |||||||||||
Q | How does the Board recommend that I vote? | ||||||||||||||||
A | The Board of Directors unanimously recommends that all stockholders vote: •FOR the election of Ms. Jennifer Estabrook, Mr. Gregory Hewett, Mr. David Maher, Ms. Jan Singer, Mr. Sean Sullivan, Mr. Steven Tishman, •FOR the ratification of the appointment of PricewaterhouseCoopers LLP as Acushnet's independent registered public accounting firm for the fiscal year ending December 31, •FOR the approval of the compensation paid to the named executive officers. | ||||||||||||||||
Q | What if another matter is properly brought before the meeting? | ||||||||||||||||
A | We will consider other business that properly comes before the meeting in accordance with Delaware law and our Amended and Restated Bylaws (the "Bylaws"). As of the date of this Proxy Statement, the Board did not know of any other matters to be presented for consideration at the Annual Meeting. If any other matters are properly brought before the meeting, the persons named in the accompanying proxy will vote on those matters according to their best judgment. |
2022 Proxy Statement | Acushnet Holdings Corp. | 5 |
GENERAL INFORMATION | |||||||||||
Q | How do I vote? | ||||||||||||||||
A | The procedures for voting are as follows: Stockholder of Record: Shares Registered in Your Name If you are a stockholder of record, you may vote online at the Annual Meeting. You may also vote prior to the Annual Meeting over the Internet, by telephone or by proxy using the enclosed proxy card. Whether or not you plan to attend the meeting, we urge you to vote by proxy to ensure your vote is counted if you decide not to attend the meeting. You may still attend the meeting and vote electronically during the meeting even if you have already voted by proxy. •If you are a stockholder of record, you may vote your shares at the Annual Meeting by following the instructions provided on the Notice and logging in to www.virtualshareholdermeeting.com/ •If you received printed proxy materials, you may submit your proxy by completing, signing and dating the proxy card and returning it promptly in the envelope provided. Mailed proxy cards must be received no later than June •To submit your proxy by telephone or the Internet, please follow the instructions provided on the proxy card. Your vote must be received by 11:59 Beneficial Owner: Shares Registered in the Name of a Broker or Bank ("Street Name") If you are a beneficial owner of shares registered in the name of your broker, bank or other agent, you should have received a notice containing voting instructions from that organization. Simply follow the voting instructions in those materials to ensure that your vote is counted. Alternatively, you may vote by telephone or over the Internet as instructed by your broker or bank. You are also invited to attend the Annual Meeting. To participate and vote your shares at the Annual Meeting, you will need the 16-Digit Control Number included on your Notice, on your proxy card or on the instructions that accompanied your proxy materials. Whether or not you plan to attend the meeting, we urge you to vote by proxy to ensure your vote is counted if you decide not to attend the virtual meeting. |
6 | Acushnet Holdings Corp. | 2022 Proxy Statement |
GENERAL INFORMATION | |||||||||||
Q | What do I need to do to attend the Annual Meeting? | ||||||||||||||||
A | We will host the Annual Meeting live via webcast. Any stockholder can attend the Annual Meeting live online at www.virtualshareholdermeeting.com/ •Instructions on how to attend and participate via the Internet, including how to demonstrate proof of stock ownership, are posted at www.virtualshareholdermeeting.com/ •Webcast starts at 9:00 a.m. Eastern Daylight Time on June •Stockholders who received a 16-Digit Control Number may vote and submit questions while attending the Annual Meeting via the Internet; and •You will need your 16-Digit Control Number to enter and vote your shares during the Annual Meeting. | ||||||||||||||||
Q | How many votes do I have? | ||||||||||||||||
A | On each matter to be voted upon, each stockholder will have one vote for each share of common stock owned by that stockholder as of the Record Date for the Meeting. | ||||||||||||||||
Q | Who will count the vote? | ||||||||||||||||
A | Representatives of Broadridge Financial Solutions Inc. will tabulate the votes and will act as inspectors of election. |
2022 Proxy Statement | Acushnet Holdings Corp. | 7 |
GENERAL INFORMATION | |||||||||||
Q | What are "broker non-votes"? | ||||||||||||||||
A | Broker non-votes occur when a beneficial owner of shares held in "street name" does not give instructions to the broker, bank or other nominee holding the shares as to how to vote on matters deemed "non-routine" by the New York Stock Exchange ("NYSE"). Generally, if shares are held in street name, the beneficial owner of the shares is entitled to give voting instructions to the broker, bank or other nominee holding the shares. If the beneficial owner does not provide voting instructions, the broker, bank or other nominee can still vote the shares with respect to matters that are considered | ||||||||||||||||
Q | What happens if I do not vote? | ||||||||||||||||
A | Stockholder of Record: Shares Registered in Your Name If you are a stockholder of record and do not vote by Internet, telephone, completing your proxy card or by attending the Annual Meeting virtually, your shares will not be voted and your shares will not be counted as "present" for purposes of determining whether a quorum is present at the Annual Meeting. Beneficial Owner: Shares Registered in the Name of a Broker or Bank ("Street Name") If you are a beneficial owner and do not instruct your broker, bank or other nominee how to vote your shares, the question of whether your broker or nominee will still be able to vote your shares depends on whether the particular proposal is a "routine" matter. Brokers and other nominees can use their discretion to vote "uninstructed" shares with respect to matters that are considered to be "routine," but not with respect to "non-routine" matters. Under the rules of the NYSE, Proposals 1 and 3 are considered non-routine matters, and your broker or nominee may not vote your shares on Proposals 1 and 3 without your instructions. Proposal 2 is considered a routine matter, and your broker or nominee may vote your uninstructed shares on Proposal 2. |
8 | Acushnet Holdings Corp. | 2022 Proxy Statement |
GENERAL INFORMATION | |||||||||||
Q | How can I find out the results of the voting at the Annual Meeting? | ||||||||||||||||
A | Preliminary voting results are expected to be announced at the Annual Meeting. Final voting results will be published in a Current Report on Form 8-K that we expect to file within four business days after the Annual Meeting. If final voting results are not available to us in time to file a Form 8-K within four business days after the meeting, we intend to file a Form 8-K to publish preliminary results and, within four business days after the final results are known to us, file an additional Form 8-K to publish the final results. | ||||||||||||||||
Q | How many votes are needed to approve each proposal? | ||||||||||||||||
A | •For Proposal 1, the election of each director nominee is determined by a plurality of the votes cast in respect of the shares present in person or represented by proxy and entitled to vote on the election of directors. "Plurality" means that the director nominees receiving the largest number of votes cast "FOR" will be elected. Votes may be cast in favor of or withheld with respect to the director nominee. Votes that are withheld and broker non-votes will have the same effect as an abstention and will not count as a vote "FOR" or "AGAINST" a director. •For Proposal 2, the appointment of PricewaterhouseCoopers LLP must receive the affirmative vote of a majority of shares present in person or represented by proxy and entitled to vote on the matter. Abstentions will have the same effect as a vote "AGAINST" the proposal. Brokers may vote uninstructed shares with respect to Proposal 2. •For Proposal 3, the non-binding advisory vote on the compensation paid to the named executive officers, approval of the proposal requires the affirmative vote of a majority of shares present in person or represented by proxy and entitled to vote on the matter. Abstentions will have the same effect as a vote "AGAINST" the proposal. Broker non-votes will have no effect on the outcome of Proposal 3. As of the Record Date, Magnus beneficially owned and had the right to vote |
2022 Proxy Statement | Acushnet Holdings Corp. | 9 |
GENERAL INFORMATION | |||||||||||
Q | Who is paying for this proxy solicitation? | ||||||||||||||||
A | We will pay for the entire cost of soliciting proxies. In addition to these proxy materials, our directors and employees may also solicit proxies in person, by telephone or by other means of communication. Directors and employees will not be paid any additional compensation for soliciting proxies, although we will reimburse them for their reasonable out-of-pocket expenses. We will also reimburse brokerage firms, banks and other agents for the cost of forwarding proxy materials to beneficial owners. | ||||||||||||||||
Q | What is the quorum requirement? | ||||||||||||||||
A | A quorum of stockholders is necessary to hold a valid meeting. A quorum will be present if stockholders holding at least a majority of the outstanding shares of our common stock entitled to vote at the Annual Meeting are present, either in person or by proxy at the Annual Meeting. On the Record Date, there were In accordance with our Bylaws, stockholders and proxy holders electronically attending the virtual annual meeting will be deemed present "in person" for the purposes of satisfying the foregoing ownership requirements. |
10 | Acushnet Holdings Corp. | 2022 Proxy Statement |
GENERAL INFORMATION | |||||||||||
Q | What does it mean if I receive more than one set of proxy materials? | ||||||||||||||||
A | If you receive more than one set of proxy materials, your shares may be registered in more than one name or in different accounts. You should complete each of the proxy cards to ensure that all of your shares are voted. You may consider registering all of your brokerage accounts in the same name and address for better service. If you wish to do so, you should contact your broker, bank or nominee for more information. Our stock transfer agent, | ||||||||||||||||
Q | Can I change my vote after submitting my proxy? | ||||||||||||||||
A | Yes. You can revoke your proxy at any time prior to the vote at the Annual Meeting. If you voted by Internet, telephone or mail and are a stockholder of record, you may change your vote and revoke your proxy by: •delivering written notice of revocation to our Corporate Secretary, 333 Bridge Street, Fairhaven, MA 02719 provided such statement is received no later than 5:00 p.m. on June •voting again by Internet or telephone at a later time but before 11:59 •submitting a properly signed proxy card with a later date that is received no later than June •attending the If you hold your shares in street name and you direct your bank, broker or other nominees on how to vote your shares, you may submit new voting instructions by contacting your bank, broker or other nominee. You may also change your vote or revoke your proxy by attending the Annual Meeting via the Internet and voting using the 16-Digit Control Number on your Notice. |
2022 Proxy Statement | Acushnet Holdings Corp. | 11 |
GENERAL INFORMATION | |||||||||||
Q | When are stockholder proposals and director nominations due for next year's annual meeting? | ||||||||||||||||
A | To be considered for inclusion in next year's proxy materials pursuant to Rule 14a-8 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), your stockholder proposal must be submitted in writing by December Our Bylaws provide that nominations of persons for election to the Board of Directors and the proposal of other business to be considered by the stockholders may be made at an annual meeting of stockholders only (a) pursuant to the Company's notice of meeting (or any supplement thereto), (b) by or at the direction of the Board of Directors or any authorized committee thereof or (c) by any stockholder of the Company who is entitled to vote at the meeting, who has complied with the notice procedures set forth in the Bylaws and who was a stockholder of record at the time such notice is delivered to the Company's Corporate Secretary. To be timely for our |
Q | Whom should I contact if I have additional questions or would like additional copies of the proxy materials? | ||||||||||||||||
A | If you would like additional copies of this proxy statement (which copies will be provided to you without charge) or if you have questions, including the procedures for voting your shares, you should refer to the instructions on the Notice, or you can request materials at www.proxyvote.com. |
12 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Proposal One Election of Directors | |||||
Our Board of Directors currently consists of eight removal from office. The authorized number of directors may be changed only by our Board of Directors. Vacancies on the Board of Directors may be filled only by persons elected by a majority of the directors then in office. A director elected by the Board of Directors to fill a vacancy, including vacancies created by an increase in the number of directors, serves for the remainder of the previous director's full term or until the director's successor is duly elected and qualified or his or her death, resignation, retirement, disqualification or removal from office. The following table sets forth the names and certain other information for the nominees for each member of the Board of Directors as of the date of this proxy statement. Key biographical information for each of these individuals is set forth below. |
OF DIRECTORS RECOMMENDS THAT YOU VOTE "FOR" THE ELECTION OF THE LISTED NOMINEES. |
Name | Age | Position | Director Since | ||||||||||||||||||||
David Maher | 54 | President and Chief Executive Officer and Director | 2018 | ||||||||||||||||||||
Yoon Soo (Gene) Yoon | 76 | Chairman | 2011 | ||||||||||||||||||||
Jennifer Estabrook(1) | 61 | Director | 2016 | ||||||||||||||||||||
Gregory Hewett(1)(2) | 53 | Director | 2016 | ||||||||||||||||||||
Jan Singer (1)(3) | 58 | Director | 2021 | ||||||||||||||||||||
Sean Sullivan(2)(3) | 55 | Director | 2016 | ||||||||||||||||||||
Steven Tishman(1)(2) | 65 | Director | 2016 | ||||||||||||||||||||
Keun Chang (Kevin) Yoon(3) | 46 | Director | 2019 |
14 | Acushnet Holdings Corp. | 2022 Proxy Statement |
PROPOSAL 1 | |||||||||||
Tenure | Age |
Ethnicity | Gender |
2022 Proxy Statement | Acushnet Holdings Corp. | 15 |
PROPOSAL 1 | |||||||||||
David Maher | Title:President, Chief Executive Officer, Director | ||||||||||
David Maher | |||||||||||
Mr. Maher has served on our board of directors since March |
Yoon Soo (Gene) Yoon | Title:Chairman, Director Age: 76 Director Since: 2011 | ||||||||||
Yoon Soo (Gene) Yoon is the father of Keun Chang (Kevin) Yoon. | |||||||||||
Mr. Yoon has knowledge and experience in consumer products and has experience as the Chairman of the Board of Directors of Acushnet Holdings Corp. since |
16 | Acushnet | 2022 Proxy Statement |
PROPOSAL 1 | |||||||||||
Jennifer Estabrook | Title:Director Age: 61 Director Since: 2016 | ||||||||||
Jennifer Estabrook | |||||||||||
Ms. Estabrook has served on our Board of Directors since October |
Gregory Hewett | Title:Director Age: 53 Director Since: 2016 | ||||||||||
Gregory Hewett | |||||||||||
Mr. Hewett has served on our Board of Directors since October |
2022 Proxy Statement | Acushnet Holdings Corp. | 17 |
PROPOSAL 1 | |||||||||||
Jan Singer | Title:Director Age: 58 Director Since: 2021 | ||||||||||
Jan Singer served as the Chief Executive Officer of J. Crew Group, Inc. ("J.Crew") from February 2020 to December 2020. J.Crew filed for protection under Chapter 11 of the U.S. Bankruptcy Code in May 2020 and emerged from bankruptcy in September 2020. Previously, Ms. Singer served as the Chief Executive Officer of Victoria's Secret Lingerie from 2016 to 2019 and the Chief Executive Officer of Spanx, Inc. from 2014 to 2016, in addition to previous roles at Nike, Reebok, Prada, Calvin Klein, and Chanel. Ms. Singer currently serves on the board of directors of Supernova Partners Acquisition Co. III Ltd. and previously served on the boards of directors of J.Crew and Kate Spade & Company. | |||||||||||
Ms. Singer has served on our Board of Directors since November 2021 and was selected to serve as a director because of her varied background, knowledge and operational experience in |
Sean Sullivan | Title:Director Age: 55 Director Since: 2016 | ||||||||||
Sean Sullivan | |||||||||||
Mr. Sullivan has served on our Board of Directors since October |
18 | Acushnet Holdings Corp. | 2022 Proxy Statement |
PROPOSAL 1 | |||||||||||
Steven Tishman | Title:Director Age: 65 Director Since: 2016 | ||||||||||
Steven Tishman | |||||||||||
Mr. Tishman has served on our Board of Directors since October |
Keun Chang (Kevin) Yoon | |||||||||||
Keun Chang (Kevin) Yoon has been the President and Chief Executive Officer of Fila since March 2018. Fila's common stock is publicly traded and listed on the Korea Stock Exchange. Mr. Yoon also served as Chief Financial Officer and Executive Vice President of the Strategic Planning and Footwear Division of Fila from July 2016 until March 2018. Mr. Yoon has also served multiple roles including Manager of Footwear Sourcing, Vice President and Chief Financial Officer of Fila North America as well as other Fila affiliations from February 2009 until October 2016. | |||||||||||
Mr. Yoon has served on our Board of Directors since April 2019 and has knowledge and operational experience within the consumer and sporting goods industry. |
2022 Proxy Statement | Acushnet Holdings Corp. | 19 |
PROPOSAL 1 | |||||||||||
Our Board of Directors recommends that you vote "FOR" the election of Ms. Jennifer Estabrook, Mr. Gregory Hewett, Mr. David Maher, Ms. Jan Singer, Mr. Sean Sullivan, Mr. Steven Tishman, |
20 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Information About Our Board and Corporate Governance | |||||
CORPORATE GOVERNANCE GUIDELINES | ||||||||
The Company's Corporate Governance Guidelines set forth the principles and practices by which the Board of Directors carries out its responsibilities. These Guidelines help effectively promote the best interests of both the Company and the Company's stockholders, while complying with all applicable laws, regulations and stock exchange requirements. Our Corporate Governance Guidelines set forth the practices the Board follows with respect to Board composition and selection, Board meetings, responsibilities of directors, Chief Executive Officer evaluation and succession planning, Board self-evaluation and Board committees and compensation. Our Corporate Governance Guidelines are overseen by the Nominating and Corporate Governance Committee and reviewed annually. These Guidelines may be found on our website at www.acushnetholdingscorp.com/investors under "Governance." The Board will review these guidelines as it deems necessary and appropriate. |
Our Audit Committee consists of Mr. Sullivan, The purpose of the Audit Committee is to assist our Board of Directors in overseeing: •the quality and integrity of our financial statements (including the effectiveness of internal controls over financial reporting); •our compliance with legal and regulatory requirements; •our independent registered public accounting firm's qualifications, performance and independence; and •the performance of our internal audit function. The Audit Committee also prepares the audit committee report required by the SEC to be included in our proxy statement. | |||||||||||||||||
Members Sean Sullivan (Chair) Gregory Hewett Steven Tishman | |||||||||||||||||
Our Board of Directors has adopted a written charter for the Audit Committee, which may be found at www.acushnet holdingscorp.com/investors under "Governance." |
2022 Proxy Statement | Acushnet Holdings Corp. | 21 |
CORPORATE GOVERNANCE | |||||||||||
Our Compensation Committee consists of Ms. Estabrook, who serves as the Chair, Ms. Singer and Messrs. Sullivan and Tishman. As a controlled company, we are entitled to rely upon the exemption from the requirement that we have a compensation committee composed entirely of independent directors. Notwithstanding the availability of this exemption, our Board of Directors has determined that each member of our Compensation Committee meets the independence requirements under NYSE listing standards and SEC rules and regulations, and that each of Ms. Singer and Messrs. Hewett and Tishman is a non-employee director, as defined pursuant to Rule 16b-3 promulgated under the Exchange Act. The purpose of the Compensation Committee is to assist our Board of Directors in discharging its responsibilities relating to: •setting the compensation of our executive officers and directors; •administering our incentive and equity-based compensation plans; and •preparing the compensation committee report and Compensation Discussion and Analysis required to be included in our proxy statement under the rules and regulations of the SEC. The charter of the Compensation Committee permits the committee to delegate any or all of its authority to one or more subcommittees and to delegate to one or more of our officers the authority to make awards to any employee of the Company, other than our executive officers, under our incentive compensation or other equity-based plans, subject to compliance with the applicable plan and the laws of our state of jurisdiction. In addition, the Compensation Committee has the authority under its charter to retain outside consultants or advisors. The Compensation Committee has engaged Pearl Meyer & Partners, LLC ("Pearl Meyer") to provide compensation consulting services to the Committee. Pearl Meyer provides the Compensation Committee with customized information and advice related to cash and equity compensation for the Board of Directors and our executive officers. These services include, but are not limited to: identification of peer companies for benchmarking, pay analysis, equity comparisons, pay trends and recommendations on compensation changes. Pearl Meyer reviews the peer benchmarking group annually and may make recommendations for replacement, including where a company has been acquired or merged. The Compensation Committee considers Pearl Meyer's recommendations for the Company's peer benchmarking group and is responsible for formally reviewing and approving the peer group. Pearl Meyer also periodically reviews our director compensation program. | |||||||||||||||||
Members Jennifer Estabrook (Chair) Gregory Hewett Jan Singer Steven Tishman | |||||||||||||||||
Our Board of Directors has adopted a written charter for the Compensation Committee, which may be found on our website at www.acushnetholdings corp.com/investors under "Governance." |
22 | Acushnet Holdings Corp. | 2022 Proxy Statement |
CORPORATE GOVERNANCE | |||||||||||
Our Nominating and Corporate Governance Committee consists of Mr. Yoon, who serves as the Chair, Ms. Singer and Mr. Sullivan. As a controlled company, we are entitled to rely upon the exemption from the requirement that we have a nominating and corporate governance committee. Notwithstanding the availability of this exemption, our Board of Directors has determined to have this standing committee and that all members meet the independence requirements under NYSE listing standards and SEC rules and regulations. • identify individuals qualified to become directors, consistent with the criteria approved by our Board of Directors and select, or recommend that our Board of Directors select, the director nominees for the next annual meeting of stockholders or to fill vacancies or newly created directorships that may occur between such meetings, including the evaluation of candidates recommended by stockholders; •develop and recommend to our Board of Directors a set of corporate governance principles; •oversee the evaluation of our Board of Directors and management; •recommend members of our Board of Directors to serve on committees of our Board of Directors and evaluate the operations and performance of such committees; •oversee and approve the management continuity and succession planning process; •oversee the Company's Social Responsibility program, encompassing the Company's efforts with respect to environmental, social and governance matters of significance, and •otherwise take a leadership role in shaping our corporate governance. | |||||||||||||||||
Members Keun Chang (Kevin) Yoon (Chair) Jan Singer Sean Sullivan | |||||||||||||||||
Our Board of Directors has adopted a written charter for the Nominating and Corporate Governance Committee, which may be found at www.acushnet holdingscorp.com/investors under "Governance." |
2022 Proxy Statement | Acushnet Holdings Corp. | 23 |
CORPORATE GOVERNANCE | |||||||||||
Audit Committee | Compensation Committee | Nominating and Governance Committee | ||||||
Oversees risks related to: | Oversees risks related to: | Oversees risks related to: | ||||||
Financial statement integrity and quality | Executive and non-executive compensation policies | Governance structure and processes | ||||||
Effectiveness of the internal control environment and the external auditors | Human capital management | Board/Management succession planning | ||||||
Legal and regulatory compliance | Conflicts of interest | |||||||
Related-party transactions | Environmental and social initiatives | |||||||
Cybersecurity and information technology |
24 | Acushnet Holdings Corp. | 2022 Proxy Statement |
CORPORATE GOVERNANCE | |||||||||||
Governance and Oversight Our Corporate Social Responsibility efforts are led and managed by senior management. The Nominating and Corporate Governance Committee has formal oversight of these efforts pursuant to its charter and is briefed by senior management periodically. |
2022 Proxy Statement | Acushnet Holdings Corp. | 25 |
CORPORATE GOVERNANCE | |||||||||||
Environmental Initiatives Our commitment to the environment is not new. Our U.S. golf ball manufacturing facilities produce almost zero landfill waste. In addition, we have invested in reducing energy, water usage and waste, and in increasing use of recycled and environmentally-friendly materials for many years. |
35% RENEWABLE In 2021, our U.S. golf ball manufacturing facilities received 35% of their energy needs directly from renewable sources. | $16M INVESTMENT Investment of over $16 million in energy efficiency projects since 2007. | 39,000T RECYCLED The Company's recycled golf ball subsidiary has processed and resold over 39,000 tons of used golf balls. | |||||||||||||||||||||
26 | Acushnet Holdings Corp. | 2022 Proxy Statement |
CORPORATE GOVERNANCE | |||||||||||
Employee Safety, Health and Wellness As a global leader in the golf equipment industry, we prioritize employee safety and health in all of our facilities, including our golf ball, golf glove and golf shoe manufacturing facilities, our golf club assembly facilities, and our distribution centers and support operations worldwide. Led by a dedicated team of approximately 20 associates, the Company is committed to implementing best-in-class health and safety programs aimed at minimizing risks to our associates and complying with all applicable safety and health laws and regulations. |
2022 Proxy Statement | Acushnet Holdings Corp. | 27 |
CORPORATE GOVERNANCE | |||||||||||
We are founded on excellence, innovation, and talented and caring people. Diversity, inclusion and belonging drive our Brands by ensuring different perspectives produce the best products for our golfers and an environment of equity, integrity, and respect for our people. Through diversity of thought and experience, we create a collaborative culture where people feel safe and empowered to share their unique ideas. When all voices are heard, we are at our best. |
28 | Acushnet Holdings Corp. | 2022 Proxy Statement |
CORPORATE GOVERNANCE | |||||||||||
Supply Chain and Human Rights We strive to do business with suppliers that share our commitment to ethical business principles. To support this goal, our |
Community Engagement Our commitment extends to our community through direct Company engagement. We |
2022 Proxy Statement | Acushnet Holdings Corp. | 29 |
CORPORATE GOVERNANCE | |||||||||||
30 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Proposal Two Ratification of Independent | |||||
The Audit Committee has selected PricewaterhouseCoopers LLP ("PwC") as our independent registered public accountant and to audit our consolidated financial statements for the fiscal year ending December 31, The Audit Committee's policy is to pre-approve all audit and permissible non-audit services to be provided by the independent registered public accounting firm, including the fees for those services, subject to the de minimis exception for non-audit services provided by SEC rules. Additionally, the Audit Committee may delegate to one or more members the authority to review and pre-approve any such services in between the Audit Committee's regular meetings. Any such pre-approval will be subsequently considered and ratified by the Audit Committee at the next regularly scheduled meeting. Before selecting PwC, the Audit Committee considered the firm's qualifications as independent registered public accountants and concluded that, based on its prior performance and its reputation for integrity and competence, it was qualified. The Audit Committee also considered whether any non-audit services performed for us by PwC would impair PwC's independence and concluded that they did not. If the stockholders do not ratify the selection of PwC, the Audit Committee may reconsider its selection. Even if the selection is ratified, the Audit Committee, in its sole discretion, may change the appointment at any time during the year if it determines that such a change would be in the best interests of our Company and its stockholders. | OUR BOARD |
Year Ended December 31, | ||||||||||||||
2020 | 2019 | |||||||||||||
Audit Fees(1) | $ | 4,768,929 | $ | 4,869,700 | ||||||||||
Audit-Related Fees(2) | 109,000 | 131,306 | ||||||||||||
Tax Fees(3) | 573,737 | 665,439 | ||||||||||||
All Other Fees(4) | 10,291 | 2,147 | ||||||||||||
Total | $ | 5,461,957 | $ | 5,668,592 |
32 | Acushnet Holdings Corp. | 2022 Proxy Statement |
PROPOSAL 2 | ||||||||||||||
2021 | 2020 | ||||||||||||||||
Audit Fees(1) | 4,685,412 | 4,768,929 | |||||||||||||||
Audit-Related Fees(2) | 122,475 | 109,000 | |||||||||||||||
Tax Fees(3) | 788,169 | 573,737 | |||||||||||||||
All Other Fees(4) | 14,248 | 10,291 | |||||||||||||||
Total | 5,610,304 | 5,461,957 |
Our Board of Directors recommends that you vote "FOR" the ratification of the appointment of PwC as our independent registered public accounting firm for fiscal |
2022 Proxy Statement | Acushnet Holdings Corp. | 33 |
Report of the Audit Committee | |||||
34 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Proposal Three | |||||
Our Board of Directors recommends that you vote "FOR" the approval of the compensation paid to our named executive officers. |
36 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Executive Compensation | |||||
Name | Title | ||||||||||
David Maher | President and Chief Executive Officer | ||||||||||
Thomas Pacheco | Executive Vice President, Chief Financial Officer and Chief Accounting Officer | ||||||||||
Mary Louise Bohn | President - Titleist Golf Balls | ||||||||||
Steven Pelisek | President - Titleist Golf Clubs | ||||||||||
Christopher Lindner | President - FootJoy |
38 | Acushnet Holdings Corp. | 2022 Proxy Statement |
EXECUTIVE COMPENSATION | |||||||||||
2022 Proxy Statement | Acushnet Holdings Corp. | 39 |
EXECUTIVE COMPENSATION | |||||||||||
Internal References | External References | |||||||
•Historical company and individual performance | •Direct competitor and peer group pay data | |||||||
•Business strategy and outlook | •Industry/broader market survey pay data | |||||||
•Position criticality and demand | •Performance compared to competitors/market |
40 | Acushnet Holdings Corp. | 2022 Proxy Statement |
EXECUTIVE COMPENSATION | |||||||||||
Callaway Golf Company | G III Apparel Group | Steve Madden | ||||||||||||
Crocs, Inc. | Helen of Troy | Tempur Sealy International | ||||||||||||
Deckers Outdoor Corp. | Kontoor Brands, Inc. | Vista Outdoor Inc. | ||||||||||||
Energizer Holdings, Inc. | La-Z-Boy Incorporated | Wolverine Worldwide | ||||||||||||
Fossil Group, Inc. | Oxford Industries, Inc. | |||||||||||||
2022 Proxy Statement | Acushnet Holdings Corp. | 41 |
EXECUTIVE COMPENSATION | |||||||||||
Element of Pay | Summary | Purpose | ||||||||||||||||||||||||
Base Salary | Fixed compensation provided for service in a particular role | Provide a secure form of income for executives | ||||||||||||||||||||||||
Annual Cash Incentive | Adjusted EBITDA(1) based incentive plan | Incentivize achievement of the annual operating plan | ||||||||||||||||||||||||
RSUs | Time-based equity awards | Retain executives over the long-term and align management and stockholder interests | ||||||||||||||||||||||||
PSUs | ||||||||||||||||||||||||||
Threshold (50%) | Target (100%) | Maximum (200%) | ||||||||||||||||||
Adjusted EBITDA | $215.0M | $230.0M | $245.0M | |||||||||||||||||
Percentage of target | 93.5% | 100% | 106.5% | |||||||||||||||||
Payout opportunity (as a % of target) | 50% | 100% | 200% |
Name | Targeted % of Base Salary | Base Salary | Incentive | |||||||||||||||||
David Maher | 100 | % | $ | 900,000 | $ | 900,000 | ||||||||||||||
Thomas Pacheco | 60 | % | $ | 475,000 | $ | 285,000 | ||||||||||||||
Mary Louise Bohn | 55 | % | $ | 500,000 | $ | 275,000 | ||||||||||||||
Steven Pelisek | 55 | % | $ | 500,000 | $ | 275,000 | ||||||||||||||
Christopher Lindner | 55 | % | $ | 500,000 | $ | 275,000 |
Name | Incentive Target | Achievement Level | Incentive Payout | |||||||||||||||||
David Maher | $ | 900,000 | 121.0 | % | $ | 1,089,000 | ||||||||||||||
Thomas Pacheco | $ | 285,000 | 121.0 | % | $ | 344,850 | ||||||||||||||
Mary Louise Bohn | $ | 275,000 | 121.0 | % | $ | 332,750 | ||||||||||||||
Steven Pelisek | $ | 275,000 | 121.0 | % | $ | 332,750 | ||||||||||||||
Christopher Lindner | $ | 275,000 | 121.0 | % | $ | 332,750 |
2020 Long-Term Incentive Grants | |||||||||||||||||||||||
Name and Award Type | Grant Date | Stock Awards: Number of Shares of Stock or Units | Grant Date Fair Value of Stock Awards at Target ($) | ||||||||||||||||||||
David Maher | — | — | — | ||||||||||||||||||||
RSU | 2/28/2020 | 51,867 | 1,320,015 | ||||||||||||||||||||
PSU | 2/28/2020 | 77,800 | 1,980,010 | ||||||||||||||||||||
Thomas Pacheco | — | — | — | ||||||||||||||||||||
RSU | 2/28/2020 | 11,002 | 280,001 | ||||||||||||||||||||
PSU | 2/28/2020 | 16,503 | 420,001 | ||||||||||||||||||||
Mary Louise Bohn | — | — | — | ||||||||||||||||||||
RSU | 2/28/2020 | 12,574 | 320,008 | ||||||||||||||||||||
PSU | 2/28/2020 | 18,861 | 480,012 | ||||||||||||||||||||
Steven Pelisek | — | — | — | ||||||||||||||||||||
RSU | 2/28/2020 | 12,574 | 320,008 | ||||||||||||||||||||
PSU | 2/28/2020 | 18,861 | 480,012 | ||||||||||||||||||||
Christopher Lindner | — | — | — | ||||||||||||||||||||
RSU | 2/28/2020 | 12,574 | 320,008 | ||||||||||||||||||||
PSU | 2/28/2020 | 18,861 | 480,012 |
42 | Acushnet Holdings Corp. | 2022 Proxy Statement |
EXECUTIVE COMPENSATION | |||||||||||
Name | 2021 Base Salary ($) | ||||||||||
David Maher | 1,000,000 | ||||||||||
Thomas Pacheco | 525,000 | ||||||||||
Mary Louise Bohn | 515,000 | ||||||||||
Steven Pelisek | 515,000 | ||||||||||
Christopher Lindner | 515,000 |
Threshold (50%) | Target (100%) | Maximum (200%) | |||||||||||||||||||||
Adjusted EBITDA | $214.2M | $238.0M | $261.8M | ||||||||||||||||||||
Percentage of target | 90% | 100% | 110% | ||||||||||||||||||||
Payout opportunity (as a % of target) | 50% | 100% | 200% |
2022 Proxy Statement | Acushnet Holdings Corp. | 43 |
EXECUTIVE COMPENSATION | |||||||||||
2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||
121.0% | 96.0% | 105.3% | 90.6% |
Name | Targeted % of Base Salary (%) | Base Salary ($) | Target Incentive ($) | ||||||||||||||||||||
David Maher | 105 | 1,000,000 | 1,050,000 | ||||||||||||||||||||
Thomas Pacheco | 65 | 525,000 | 341,250 | ||||||||||||||||||||
Mary Louise Bohn | 60 | 515,000 | 309,000 | ||||||||||||||||||||
Steven Pelisek | 60 | 515,000 | 309,000 | ||||||||||||||||||||
Christopher Lindner | 60 | 515,000 | 309,000 |
44 | Acushnet Holdings Corp. | 2022 Proxy Statement |
EXECUTIVE COMPENSATION | |||||||||||
Name | Incentive Target ($) | Achievement Level (%) | Incentive Payout ($) | ||||||||||||||||||||
David Maher | 1,050,000 | 200.0 | 2,100,000 | ||||||||||||||||||||
Thomas Pacheco | 341,250 | 200.0 | 682,500 | ||||||||||||||||||||
Mary Louise Bohn | 309,000 | 200.0 | 618,000 | ||||||||||||||||||||
Steven Pelisek | 309,000 | 200.0 | 618,000 | ||||||||||||||||||||
Christopher Lindner | 309,000 | 200.0 | 618,000 |
Adjusted Operating Income ($) (1) | Payout (%) | Return on Invested Capital (%) | Payout (%) | Combined | |||||||||||||||||||||||||||||||
Threshold | 520M | 50 | 8 | 50 | |||||||||||||||||||||||||||||||
Target | 573M | 100 | 9 | 100 | |||||||||||||||||||||||||||||||
Max | 625M | 200 | 11 | 200 | |||||||||||||||||||||||||||||||
Achievement | 627.125M | 200 | 11 | 200 | 200 |
2022 Proxy Statement | Acushnet Holdings Corp. | 45 |
EXECUTIVE COMPENSATION | |||||||||||
Name | 2019 PSU Target Award (in shares) (#) | DERs Issued(1) (#) | Performance Factor (%) | Earned PSUs (in shares) (#) | ||||||||||||||||||||||
David Maher | 79,251 | 4,362 | 200 | 167,227 | ||||||||||||||||||||||
Thomas Pacheco | 15,339 | — | 200 | 30,678 | ||||||||||||||||||||||
Mary Louise Bohn | 20,452 | 1,126 | 200 | 43,155 | ||||||||||||||||||||||
Steven Pelisek | 20,452 | — | 200 | 40,904 | ||||||||||||||||||||||
Christopher Lindner | 20,452 | — | 200 | 40,904 |
46 | Acushnet Holdings Corp. | 2022 Proxy Statement |
EXECUTIVE COMPENSATION | |||||||||||
Name and Award Type | Grant Date | Stock Awards: Number of Shares of Stock or Units | Grant Date Fair Value of Stock Awards at Target ($) | |||||||||||||||||||||||||||||
David Maher | — | — | — | |||||||||||||||||||||||||||||
RSU | 2/16/2021 | 30,865 | 1,400,036 | |||||||||||||||||||||||||||||
PSU | 2/16/2021 | 46,297 | 2,100,032 | |||||||||||||||||||||||||||||
Thomas Pacheco | — | — | — | |||||||||||||||||||||||||||||
RSU | 2/16/2021 | 6,614 | 300,011 | |||||||||||||||||||||||||||||
PSU | 2/16/2021 | 9,921 | 450,017 | |||||||||||||||||||||||||||||
Mary Louise Bohn | — | — | — | |||||||||||||||||||||||||||||
RSU | 2/16/2021 | 7,055 | 320,015 | |||||||||||||||||||||||||||||
PSU | 2/16/2021 | 10,583 | 480,045 | |||||||||||||||||||||||||||||
Steven Pelisek | — | — | — | |||||||||||||||||||||||||||||
RSU | 2/16/2021 | 7,055 | 320,015 | |||||||||||||||||||||||||||||
PSU | 2/16/2021 | 10,583 | 480,045 | |||||||||||||||||||||||||||||
Christopher Lindner | — | — | — | |||||||||||||||||||||||||||||
RSU | 2/16/2021 | 7,055 | 320,015 | |||||||||||||||||||||||||||||
PSU | 2/16/2021 | 10,583 | 480,045 |
2022 Proxy Statement | Acushnet Holdings Corp. | 47 |
EXECUTIVE COMPENSATION | |||||||||||
48 | Acushnet Holdings Corp. | 2022 Proxy Statement |
EXECUTIVE COMPENSATION | |||||||||||
2022 Proxy Statement | Acushnet Holdings Corp. | 49 |
EXECUTIVE COMPENSATION | |||||||||||
Position | Stock Ownership Requirement | |||||||
Chief Executive Officer | 6 times base salary | |||||||
Other Section 16 Officers | 3 times base salary | |||||||
Non-Employee Directors | 5 times annual cash retainer |
50 | Acushnet Holdings Corp. | 2022 Proxy Statement |
TABLE OF CONTENTS | EXECUTIVE COMPENSATION | ||||||||||
2022 Proxy Statement | Acushnet Holdings Corp. | 51 |
Report of the Compensation Committee | |||||
52 | |||||||||||
Acushnet Holdings Corp. |
Summary Compensation Table | |||||
Name and Principal Position | Year | Base Salary | Bonus | Stock Awards(1) | Non-Equity Incentive Plan Compensation(2) | Change in Pension Value and Non-qualified Deferred Compensation Earnings(3) | All Other Compensation | Total | ||||||||||||||||||||||||||||||||||||||||||
David Maher President and Chief Executive Officer | 2020 | $ | 900,000 | $ | — | $ | 3,300,025 | $ | 1,089,000 | $ | 1,448,812 | $ | 55,912 | (4) | $ | 6,793,749 | ||||||||||||||||||||||||||||||||||
2019 | $ | 800,000 | $ | — | $ | 3,100,035 | $ | 768,000 | $ | 1,197,469 | $ | 43,873 | $ | 5,909,377 | ||||||||||||||||||||||||||||||||||||
2018 | $ | 750,000 | $ | — | $ | 3,000,000 | $ | 789,750 | $ | 230,258 | $ | 42,114 | $ | 4,812,122 | ||||||||||||||||||||||||||||||||||||
Thomas Pacheco Executive Vice President, Chief Financial Officer and Chief Accounting Officer | 2020 | $ | 475,000 | $ | — | $ | 700,002 | $ | 344,850 | $ | — | $ | 27,973 | (5) | $ | 1,547,825 | ||||||||||||||||||||||||||||||||||
2019 | $ | 425,000 | $ | — | $ | 600,010 | $ | 244,800 | $ | — | $ | 23,097 | $ | 1,292,907 | ||||||||||||||||||||||||||||||||||||
Mary Louise Bohn President - Titleist Golf Balls | 2020 | $ | 500,000 | $ | — | $ | 800,021 | $ | 332,750 | $ | 770,952 | $ | 28,192 | (6) | $ | 2,431,915 | ||||||||||||||||||||||||||||||||||
2019 | $ | 487,000 | $ | — | $ | 800,021 | $ | 257,136 | $ | 1,163,224 | $ | 34,446 | $ | 2,741,827 | ||||||||||||||||||||||||||||||||||||
Steven Pelisek President - Titleist Golf Clubs | 2020 | $ | 500,000 | $ | — | $ | 800,021 | $ | 332,750 | $ | 612,962 | $ | 21,212 | (7) | $ | 2,266,945 | ||||||||||||||||||||||||||||||||||
2019 | $ | 484,000 | $ | — | $ | 800,021 | $ | 255,552 | $ | 791,709 | $ | 20,247 | $ | 2,351,529 | ||||||||||||||||||||||||||||||||||||
Christopher Lindner President - FootJoy | 2020 | $ | 500,000 | $ | — | $ | 800,021 | $ | 332,750 | $ | — | $ | 20,808 | (8) | $ | 1,653,579 | ||||||||||||||||||||||||||||||||||
2019 | $ | 491,000 | $ | — | $ | 800,021 | $ | 259,248 | $ | — | $ | 65,666 | $ | 1,615,935 | ||||||||||||||||||||||||||||||||||||
2018 | $ | 477,000 | $ | — | $ | 284,992 | $ | 276,255 | $ | — | $ | 119,925 | $ | 1,158,172 |
Name and Principal Position | Year | Base Salary ($) | Bonus ($) | Stock Awards ($)(1) | Non-Equity Incentive Plan Compensation($)(2) | Change in Pension Value and Non-qualified Deferred Compensation Earnings ($)(3) | All Other Compensation ($) | Total ($) | |||||||||||||||||||||||||||||||||||||||||||||
David Maher President and Chief Executive Officer | 2021 | 1,000,000 | — | 3,500,068 | 2,100,000 | 1,444,372 | 47,785 | (4) | 8,092,225 | ||||||||||||||||||||||||||||||||||||||||||||
2020 | 900,000 | — | 3,300,025 | 1,089,000 | 1,448,812 | 55,912 | 6,793,749 | ||||||||||||||||||||||||||||||||||||||||||||||
2019 | 800,000 | — | 3,100,035 | 768,000 | 1,917,469 | 43,873 | 5,909,377 | ||||||||||||||||||||||||||||||||||||||||||||||
Thomas Pacheco Executive Vice President, Chief Financial Officer and Chief Accounting Officer | 2021 | 525,000 | — | 750,028 | 682,500 | — | 27,005 | (5) | 1,984,533 | ||||||||||||||||||||||||||||||||||||||||||||
2020 | 475,000 | — | 700,002 | 344,850 | — | 27,973 | 1,547,825 | ||||||||||||||||||||||||||||||||||||||||||||||
2019 | 425,000 | — | 600,010 | 244,800 | — | 23,097 | 1,292,907 | ||||||||||||||||||||||||||||||||||||||||||||||
Mary Louise Bohn President - Titleist Golf Balls | 2021 | 515,000 | — | 800,060 | 618,000 | 644,472 | 40,386 | (6) | 2,617,918 | ||||||||||||||||||||||||||||||||||||||||||||
2020 | 500,000 | — | 800,021 | 332,750 | 770,952 | 28,192 | 2,431,915 | ||||||||||||||||||||||||||||||||||||||||||||||
2019 | 487,000 | — | 800,021 | 257,136 | 1,163,224 | 34,446 | 2,741,827 | ||||||||||||||||||||||||||||||||||||||||||||||
Steven Pelisek President - Titleist Golf Clubs | 2021 | 515,000 | — | 800,060 | 618,000 | 635,883 | 21,211 | (7) | 2,590,154 | ||||||||||||||||||||||||||||||||||||||||||||
2020 | 500,000 | — | 800,021 | 332,750 | 612,962 | 21,212 | 2,266,945 | ||||||||||||||||||||||||||||||||||||||||||||||
2019 | 484,000 | — | 800,021 | 255,552 | 791,709 | 20,247 | 2,351,529 | ||||||||||||||||||||||||||||||||||||||||||||||
Christopher Lindner President - FootJoy | 2021 | 515,000 | — | 800,060 | 618,000 | — | 27,257 | (8) | 1,960,317 | ||||||||||||||||||||||||||||||||||||||||||||
2020 | 500,000 | — | 800,021 | 332,750 | — | 20,808 | 1,653,579 | ||||||||||||||||||||||||||||||||||||||||||||||
2019 | 491,000 | — | 800,021 | 259,248 | — | 65,666 | 1,615,935 |
2022 Proxy Statement | Acushnet Holdings Corp. | 53 |
SUMMARY COMPENSATION | ||||||||||||||
54 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Grants of Plan-Based Awards in 2021 | |||||
Name and Award Type | Grant Date | Estimated Future Payouts Under Non-Equity Incentive Plan Awards ($)(1) | Estimated Future Payouts Under Equity Incentive Plan Awards (#) | All Other Stock Awards: Number of Shares of Stock or Units | Grant Date Fair Value of Stock and Option Awards ($) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Threshold | Target | Maximum | Threshold | Target | Maximum | |||||||||||||||||||||||||||||||||||||||||||||||||||
David Maher | — | 450,000 | 900,000 | 1,800,000 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
2/28/2020 | (2) | — | — | — | — | — | — | 51,867 | 1,320,015 | |||||||||||||||||||||||||||||||||||||||||||||||
2/28/2020 | (3) | — | — | — | 38,900 | 77,800 | 155,600 | — | 1,980,010 | |||||||||||||||||||||||||||||||||||||||||||||||
Thomas Pacheco | — | 142,500 | 285,000 | 570,000 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
2/28/2020 | (2) | — | — | — | — | — | — | 11,002 | 280,001 | |||||||||||||||||||||||||||||||||||||||||||||||
2/28/2020 | (3) | — | — | — | 8,252 | 16,503 | 33,006 | — | 420,001 | |||||||||||||||||||||||||||||||||||||||||||||||
Mary Louise Bohn | — | 137,500 | 275,000 | 550,000 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
2/28/2020 | (2) | — | — | — | — | — | — | 12,574 | 320,008 | |||||||||||||||||||||||||||||||||||||||||||||||
2/28/2020 | (3) | — | — | — | 9,431 | 18,861 | 37,722 | — | 480,012 | |||||||||||||||||||||||||||||||||||||||||||||||
Steven Pelisek | — | 137,500 | 275,000 | 550,000 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
2/28/2020 | (2) | — | — | — | — | — | — | 12,574 | 320,008 | |||||||||||||||||||||||||||||||||||||||||||||||
2/28/2020 | (3) | — | — | — | 9,431 | 18,861 | 37,722 | — | 480,012 | |||||||||||||||||||||||||||||||||||||||||||||||
Christopher Lindner | — | 137,500 | 275,000 | 550,000 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
2/28/2020 | (2) | — | — | — | — | — | — | 12,574 | 320,008 | |||||||||||||||||||||||||||||||||||||||||||||||
2/28/2020 | (3) | — | — | — | 9,431 | 18,861 | 37,722 | — | 480,012 |
Name and Award Type | Grant Date | Estimated Future Payouts Under Non-Equity Incentive Plan Awards ($)(1) | Estimated Future Payouts Under Equity Incentive Plan Awards (#) | All Other Stock Awards: Number of Shares of Stock or Units | Grant Date Fair Value of Stock and Option Awards ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Threshold | Target | Maximum | Threshold | Target | Maximum | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
David Maher | — | 525,000 | 1,050,000 | 2,100,000 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
2/16/2021 | (2) | — | — | — | — | — | — | 30,865 | 1,400,036 | ||||||||||||||||||||||||||||||||||||||||||||||||||
2/16/2021 | (3) | — | — | — | 23,149 | 46,297 | 92,594 | — | 2,100,032 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas Pacheco | — | 170,625 | 341,250 | 682,500 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
2/16/2021 | (2) | — | — | — | — | — | — | 6,614 | 300,011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
2/16/2021 | (3) | — | — | — | 4,961 | 9,921 | 19,842 | — | 450,017 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mary Louise Bohn | — | 154,500 | 309,000 | 618,000 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
2/16/2021 | (2) | — | — | — | — | — | — | 7,055 | 320,015 | ||||||||||||||||||||||||||||||||||||||||||||||||||
2/16/2021 | (3) | — | — | — | 5,292 | 10,583 | 21,166 | — | 480,045 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Steven Pelisek | — | 154,500 | 309,000 | 618,000 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
2/16/2021 | (2) | — | — | — | — | — | — | 7,055 | 320,015 | ||||||||||||||||||||||||||||||||||||||||||||||||||
2/16/2021 | (3) | — | — | — | 5,292 | 10,583 | 21,166 | — | 480,045 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Christopher Lindner | — | 154,500 | 309,000 | 618,000 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
2/16/2021 | (2) | — | — | — | — | — | — | 7,055 | 320,015 | ||||||||||||||||||||||||||||||||||||||||||||||||||
2/16/2021 | (3) | — | — | — | 5,292 | 10,583 | 21,166 | — | 480,045 |
2022 Proxy Statement | Acushnet Holdings Corp. | 55 |
Outstanding Equity Awards as of December 31, 2021 | |||||
Stock Awards(1) | Stock Awards(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | Name | Stock Award Grant Date | Number of Shares or Units of Stock That Have Not Vested (#) | Market Value of Shares or Units of Stock That Have Not Vested(2) | Equity Incentive Plan Awards: Number of Unearned Shares That Have Not Vested (#)(3) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares That Have Not Vested(2) | Name | Stock Award Grant Date | Number of Shares or Units of Stock That Have Not Vested (#) | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | Equity Incentive Plan Awards: Number of Unearned Shares That Have Not Vested (#)(3) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares That Have Not Vested ($)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
David Maher | David Maher | February 28, 2020 | 52,862 | $ | 2,143,025 | — | $ | — | David Maher | February 16, 2021 | 31,165 | 1,654,238 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | 158,587 | $ | 6,429,117 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 14, 2019 | 18,325 | 742,896 | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 14, 2019 | — | — | 164,930 | $ | 6,686,262 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 2, 2018 | 50,435 | $ | 2,044,635 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David Maher | David Maher | February 16, 2021 | — | — | 93,496 | 4,962,768 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | 35,732 | 1,896,655 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | — | — | 160,795 | 8,534,999 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas Pacheco | February 28, 2020 | 11,213 | $ | 454,575 | — | — | February 16, 2021 | 6,706 | 355,954 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | 33,639 | $ | 1,363,725 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 14, 2019 | 3,409 | 138,201 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 14, 2019 | — | — | 30,678 | $ | 1,243,686 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas Pacheco | Thomas Pacheco | February 16, 2021 | — | — | 20,118 | 1,067,863 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | 7,578 | 402,240 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | — | — | 34,107 | 1,810,400 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mary Louise Bohn | February 28, 2020 | 12,815 | $ | 519,520 | — | — | February 16, 2021 | 7,153 | 379,681 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | 38,446 | $ | 1,558,601 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 14, 2019 | 4,729 | 191,714 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 14, 2019 | — | — | 42,562 | $ | 1,725,463 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mary Louise Bohn | Mary Louise Bohn | February 16, 2021 | — | — | 21,460 | 1,139,097 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | 8,661 | 459,726 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | — | — | 38,981 | 2,069,111 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Steven Pelisek | February 28, 2020 | 12,574 | $ | 509,750 | — | — | February 16, 2021 | 7,055 | 374,479 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | 37,722 | $ | 1,529,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 14, 2019 | 4,545 | 184,254 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 14, 2019 | — | — | 40,904 | $ | 1,658,248 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Steven Pelisek | Steven Pelisek | February 16, 2021 | — | — | 21,166 | 1,123,491 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | 8,382 | 444,917 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | — | — | 37,722 | 2,002,284 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Christopher Lindner | February 28, 2020 | 12,574 | $ | 509,750 | — | — | February 16, 2021 | 7,055 | 374,479 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | 37,722 | $ | 1,529,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 14, 2019 | 4,545 | 184,254 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 14, 2019 | — | — | 40,904 | $ | 1,658,248 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 26, 2018 | 4,049 | $ | 164,146 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Christopher Lindner | Christopher Lindner | February 16, 2021 | — | — | 21,166 | 1,123,491 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | 8,382 | 444,917 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, 2020 | — | — | 37,722 | 2,002,284 |
56 | Acushnet Holdings Corp. | 2022 Proxy Statement |
OUTSTANDING EQUITY AWARDS | ||||||||||||||
2022 Proxy Statement | Acushnet Holdings Corp. | 57 |
Stock Vested in 2021 | |||||
Stock Awards | ||||||||||||||||||||
Name | Grant Date | Number of RSU Shares Acquired on Vesting(1) | RSU Share Value Realized on Vesting(2) | |||||||||||||||||
David Maher | January 2, 2018 | 49,723 (3) | $ | 1,658,996 | ||||||||||||||||
February 14, 2019 | 18,659 (3) | $ | 753,782 | |||||||||||||||||
Thomas Pacheco | February 14, 2019 | 3,408 | $ | 150,940 | ||||||||||||||||
Mary Louise Bohn | February 14, 2019 | 4,815 (3) | $ | 194,534 | ||||||||||||||||
Steven Pelisek | February 14, 2019 | 4,545 | $ | 201,298 | ||||||||||||||||
Christopher Lindner | March 26, 2018 | 4,049 | $ | 179,330 | ||||||||||||||||
February 14, 2019 | 4,545 | $ | 201,298 |
Stock Awards | ||||||||||||||||||||||||||||||||
Name | Grant Date | Number of RSU Shares Acquired on Vesting(1) (#) | RSU Share Value Realized on Vesting(2) ($) | Number of PSU Shares Acquired on Vesting(1) (#) | PSU Share Value Realized on Vesting(2) ($) | |||||||||||||||||||||||||||
David Maher | January 2, 2018 | 52,463(3) | 2,156,146 | |||||||||||||||||||||||||||||
February 14, 2019 | 19,072(3) | 1,009,687 | ||||||||||||||||||||||||||||||
February 14, 2019 | 167,227 | 8,876,384 | ||||||||||||||||||||||||||||||
February 28, 2020 | 17,856(3) | 763,458 | ||||||||||||||||||||||||||||||
Thomas Pacheco | February 14, 2019 | 3,409 | 144,439 | |||||||||||||||||||||||||||||
February 14, 2019 | 30,678 | 1,286,942 | ||||||||||||||||||||||||||||||
February 28, 2020 | 3,789(3) | 161,995 | ||||||||||||||||||||||||||||||
Mary Louise Bohn | February 14, 2019 | 4,923(3) | 260,600 | |||||||||||||||||||||||||||||
February 14, 2019 | 43,155 | 2,290,690 | ||||||||||||||||||||||||||||||
February 28, 2020 | 4,330(3) | 185,136 | ||||||||||||||||||||||||||||||
Steven Pelisek | February 14, 2019 | 4,545 | 192,572 | |||||||||||||||||||||||||||||
February 14, 2019 | 40,904 | 1,715,922 | ||||||||||||||||||||||||||||||
February 28, 2020 | 4,192 | 175,854 | ||||||||||||||||||||||||||||||
Christopher Lindner | March 26, 2018 | 4,049 | 179,330 | |||||||||||||||||||||||||||||
February 14, 2019 | 4,545 | 192,572 | ||||||||||||||||||||||||||||||
February 14, 2019 | 40,904 | 1,715,922 | ||||||||||||||||||||||||||||||
February 28, 2020 | 4,192 | 175,854 |
58 | Acushnet Holdings Corp. | 2022 Proxy Statement |
STOCK VESTED | ||||||||||||||
2022 Proxy Statement | Acushnet Holdings Corp. | 59 |
Pension Benefits for 2021 | |||||
Name | Name | Plan Name | Number of Years Credited Service(1) | Present Value of Accumulated Benefit(2) | Payments During Last Fiscal Year | Name | Plan Name | Number of Years Credited Service (#)(1) | Present Value of Accumulated Benefit ($)(2) | Payments During Last Fiscal Year | |||||||||||||||||||||||||||||||||||||||||||||
David Maher | David Maher | Acushnet Company Pension Plan | 29.67 | $ | 730,099 | — | David Maher | Acushnet Company Pension Plan | 30.67 | 762,838 | — | ||||||||||||||||||||||||||||||||||||||||||||
Acushnet Company Supplemental Retirement Plan | 29.67 | $ | 3,236,388 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
David Maher | David Maher | Acushnet Company Supplemental Retirement Plan | 30.67 | 4,648,021 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas Pacheco | Acushnet Company Pension Plan | — | — | — | Acushnet Company Pension Plan | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Acushnet Supplemental Executive Retirement Plan | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas Pacheco | Thomas Pacheco | Acushnet Supplemental Executive Retirement Plan | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mary Louise Bohn | Acushnet Company Pension Plan | 34.00 | $ | 1,332,296 | — | Acushnet Company Pension Plan | 35.00 | 1,395,161 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Acushnet Supplemental Executive Retirement Plan | 34.00 | $ | 2,954,656 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Mary Louise Bohn | Mary Louise Bohn | Acushnet Supplemental Executive Retirement Plan | 35.00 | 3,536,263 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Steven Pelisek | Acushnet Company Pension Plan | 26.50 | $ | 1,000,970 | — | Acushnet Company Pension Plan | 27.50 | 1,056,368 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Acushnet Supplemental Executive Retirement Plan | 26.50 | $ | 2,059,579 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Steven Pelisek | Steven Pelisek | Acushnet Supplemental Executive Retirement Plan | 27.50 | 2,640,064 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Christopher Lindner | Acushnet Company Pension Plan | — | — | — | Acushnet Company Pension Plan | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Acushnet Supplemental Executive Retirement Plan | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Christopher Lindner | Christopher Lindner | Acushnet Supplemental Executive Retirement Plan | — | — | — |
60 | Acushnet Holdings Corp. | 2022 Proxy Statement |
TABLE OF CONTENTS | PENSION BENEFITS | |||||||||||||
2022 Proxy Statement | Acushnet Holdings Corp. | 61 |
Nonqualified Deferred Compensation for 2021 | |||||
Name | Executive Contributions in Last Fiscal Year | Company Contributions in Last Fiscal Year | Aggregate Earnings in Last Fiscal Year | Aggregate Withdrawals/ Distributions | Aggregate Balance at Last Fiscal Year | ||||||||||||||||||||||||||||||
David Maher | $ | 2,412,778 | (1) | — | $ | 359,428 | — | $ | 4,964,885 | (1) | |||||||||||||||||||||||||
$ | 15,452 | $ | 62,227 | (2) | |||||||||||||||||||||||||||||||
Thomas Pacheco | — | — | — | — | — | ||||||||||||||||||||||||||||||
Mary Louise Bohn | $ | 194,534 | (1) | — | 666 | — | $ | 346,008 | (1) | ||||||||||||||||||||||||||
Steven Pelisek | — | — | — | — | — | ||||||||||||||||||||||||||||||
Christopher Lindner | — | — | — | — | — |
Name | Executive Contributions in Last Fiscal Year ($) | Company Contributions in Last Fiscal Year ($) | Aggregate Earnings in Last Fiscal Year ($) | Aggregate Withdrawals/ Distributions ($) | Aggregate Balance at Last Fiscal Year ($) | |||||||||||||||||||||||||||||||||
David Maher | 12,805,675 | (1) | — | 815,611 | — | 16,458,073 | (1) | |||||||||||||||||||||||||||||||
— | — | 11,810 | — | 74,037 | (2) | |||||||||||||||||||||||||||||||||
Thomas Pacheco | 161,995 | (1) | — | 39,115 | — | 201,110 | (1) | |||||||||||||||||||||||||||||||
Mary Louise Bohn | 2,736,426 | (1) | — | 45,395 | — | 2,977,021 | (1) | |||||||||||||||||||||||||||||||
— | — | 12,335 | — | 77,767 | (2) | |||||||||||||||||||||||||||||||||
Steven Pelisek | — | — | 12,698 | — | 80,308 | (2) | ||||||||||||||||||||||||||||||||
Christopher Lindner | — | — | — | — | — |
62 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Potential Payments Upon Termination or Change in Control | |||||
Retirement/ Voluntary Termination ($) | Involuntary Termination without Cause or Voluntary Termination with Good Reason ($) | Termination For Cause ($) | Death or Disability ($) | Change in Control ($) | Change in Control followed by Involuntary Termination without Cause or Voluntary Termination with Good Reason ($) | ||||||||||||||||||||||||||||||||||||
David Maher | |||||||||||||||||||||||||||||||||||||||||
Annual incentive award(1) | 2,100,000 | 2,100,000 | — | 2,100,000 | — | 4,200,000 | |||||||||||||||||||||||||||||||||||
Acceleration of Equity Awards(2) | — | — | — | 15,304,590 | — | 15,304,590 | |||||||||||||||||||||||||||||||||||
Cash severance payment(3) | — | 1,500,000 | — | — | — | 2,000,000 | |||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | 2,700,000 | — | — | |||||||||||||||||||||||||||||||||||
Accrued and unpaid vacation | 115,385 | 115,385 | 115,385 | 115,385 | — | 115,385 | |||||||||||||||||||||||||||||||||||
Total | 2,215,385 | 3,715,385 | 115,385 | 20,219,975 | — | 21,619,975 | |||||||||||||||||||||||||||||||||||
Thomas Pacheco | |||||||||||||||||||||||||||||||||||||||||
Annual incentive award(1) | — | 682,500 | — | 682,500 | — | 682,500 | |||||||||||||||||||||||||||||||||||
Acceleration of Equity Awards(2) | — | — | — | 3,636,568 | — | 3,636,568 | |||||||||||||||||||||||||||||||||||
Cash severance payment(3) | — | 525,000 | — | — | — | 1,050,000 | |||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | 476,000 | — | — | |||||||||||||||||||||||||||||||||||
Accrued and unpaid vacation | — | 30,288 | 30,288 | 30,288 | — | 30,288 | |||||||||||||||||||||||||||||||||||
Total | 0 | 1,237,788 | 30,288 | 4,825,356 | — | 5,399,356 |
2022 Proxy Statement | Acushnet Holdings Corp. | 63 |
Retirement/Voluntary Termination | Involuntary Termination without Cause or Voluntary Termination with Good Reason | Termination For Cause | Death or Disability | Change in Control | Change in Control followed by Involuntary Termination without Cause or Voluntary Termination with Good Reason | |||||||||||||||||||||||||||||||||
David Maher | ||||||||||||||||||||||||||||||||||||||
Annual incentive award(1) | $ | 1,089,000 | $ | 1,089,000 | $ | — | $ | 1,089,000 | — | $ | 2,178,000 | |||||||||||||||||||||||||||
Acceleration of Equity Awards(2) | — | — | — | 11,488,336 | — | 11,488,336 | ||||||||||||||||||||||||||||||||
Cash severance payment(3) | — | 1,350,000 | — | — | — | 1,800,000 | ||||||||||||||||||||||||||||||||
Life insurance | — | — | — | 2,801,000 | — | — | ||||||||||||||||||||||||||||||||
Accrued and unpaid vacation | 86,538 | 86,538 | 86,538 | 86,538 | — | 86,538 | ||||||||||||||||||||||||||||||||
Total | $ | 1,175,538 | $ | 2,525,538 | $ | 86,538 | $ | 15,464,874 | — | $ | 15,552,874 | |||||||||||||||||||||||||||
Thomas Pacheco | ||||||||||||||||||||||||||||||||||||||
Annual incentive award(1) | $ | 344,850 | $ | 344,850 | $ | — | $ | 344,850 | — | $ | 344,850 | |||||||||||||||||||||||||||
Acceleration of Equity Awards(2) | — | — | — | 1,896,462 | — | 1,896,462 | ||||||||||||||||||||||||||||||||
Cash severance payment(3) | — | 475,000 | — | — | — | 950,000 | ||||||||||||||||||||||||||||||||
Life insurance | — | — | — | 426,000 | — | — | ||||||||||||||||||||||||||||||||
Accrued and unpaid vacation | 18,269 | 18,269 | 18,269 | 18,269 | — | 18,269 | ||||||||||||||||||||||||||||||||
Total | $ | 363,119 | $ | 838,119 | $ | 18,269 | $ | 2,685,581 | — | $ | 3,209,581 | |||||||||||||||||||||||||||
Mary Louise Bohn | ||||||||||||||||||||||||||||||||||||||
Annual incentive award(1) | $ | 332,750 | $ | 332,750 | $ | — | $ | 332,750 | — | $ | 332,750 | |||||||||||||||||||||||||||
Acceleration of Equity Awards(2) | — | — | — | 2,353,317 | $ | 575,166 | 2,353,317 | |||||||||||||||||||||||||||||||
Cash severance payment(3) | — | 750,000 | — | — | — | 1,000,000 | ||||||||||||||||||||||||||||||||
Life insurance | — | — | — | 488,000 | — | — | ||||||||||||||||||||||||||||||||
Accrued and unpaid vacation | 57,692 | 57,692 | 57,692 | 57,692 | — | 57,692 | ||||||||||||||||||||||||||||||||
Total | $ | 390,442 | $ | 1,140,442 | $ | 57,692 | $ | 3,231,759 | $ | 575,166 | $ | 3,743,759 | ||||||||||||||||||||||||||
Steven Pelisek | ||||||||||||||||||||||||||||||||||||||
Annual incentive award(1) | $ | 332,750 | $ | 332,750 | — | $ | 332,750 | — | $ | 332,750 | ||||||||||||||||||||||||||||
Acceleration of Equity Awards(2) | — | — | — | 2,287,753 | $ | 552,749 | 2,287,753 | |||||||||||||||||||||||||||||||
Cash severance payment(3) | — | 750,000 | — | — | — | 1,000,000 | ||||||||||||||||||||||||||||||||
Life insurance | — | — | — | 970,000 | — | — | ||||||||||||||||||||||||||||||||
Accrued and unpaid vacation | 76,923 | 76,923 | 76,923 | 76,923 | — | 76,923 | ||||||||||||||||||||||||||||||||
Total | $ | 409,673 | $ | 1,159,673 | $ | 76,923 | $ | 3,667,426 | $ | 552,749 | $ | 3,697,426 | ||||||||||||||||||||||||||
Christopher Lindner | ||||||||||||||||||||||||||||||||||||||
Annual incentive award(1) | $ | 332,750 | $ | 332,750 | $ | — | $ | 332,750 | — | $ | 332,750 | |||||||||||||||||||||||||||
Acceleration of Equity Awards(2) | — | — | — | 2,451,890 | — | 2,451,890 | ||||||||||||||||||||||||||||||||
Cash severance payment(3) | — | 750,000 | — | — | — | 1,000,000 | ||||||||||||||||||||||||||||||||
Life insurance | — | — | — | 1,476,000 | — | — | ||||||||||||||||||||||||||||||||
Accrued and unpaid vacation | 19,231 | 19,231 | 19,231 | 19,231 | — | 19,231 | ||||||||||||||||||||||||||||||||
Total | $ | 351,981 | $ | 1,101,981 | $ | 19,231 | $ | 4,279,871 | — | $ | 3,803,871 |
POTENTIAL PAYMENTS | ||||||||||||||
Mary Louise Bohn | |||||||||||||||||||||||||||||||||||||||||
Annual incentive award(1) | 618,000 | 618,000 | — | 618,000 | — | 618,000 | |||||||||||||||||||||||||||||||||||
Acceleration of Equity Awards(2) | 459,770 | — | — | 4,047,727 | 1,268,666 | 4,047,727 | |||||||||||||||||||||||||||||||||||
Cash severance payment(3) | — | 772,500 | — | — | — | 1,030,000 | |||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | 501,000 | — | — | |||||||||||||||||||||||||||||||||||
Accrued and unpaid vacation | 59,423 | 59,423 | 59,423 | 59,423 | — | 59,423 | |||||||||||||||||||||||||||||||||||
Total | 1,137,193 | 1,449,923 | 59,423 | 5,226,150 | 1,268,666 | 5,755,150 | |||||||||||||||||||||||||||||||||||
Steven Pelisek | |||||||||||||||||||||||||||||||||||||||||
Annual incentive award(1) | 618,000 | 618,000 | — | 618,000 | — | 618,000 | |||||||||||||||||||||||||||||||||||
Acceleration of Equity Awards(2) | 444,917 | — | — | 3,945,171 | 1,227,678 | 3,945,171 | |||||||||||||||||||||||||||||||||||
Cash severance payment(3) | — | 772,500 | — | — | — | 1,030,000 | |||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | 1,002,000 | — | — | |||||||||||||||||||||||||||||||||||
Accrued and unpaid vacation | 79,231 | 79,231 | 79,231 | 79,231 | — | 79,231 | |||||||||||||||||||||||||||||||||||
Total | 1,142,148 | 1,469,731 | 79,231 | 5,644,402 | 1,227,678 | 5,672,402 | |||||||||||||||||||||||||||||||||||
Christopher Lindner | |||||||||||||||||||||||||||||||||||||||||
Annual incentive award(1) | — | 618,000 | — | 618,000 | — | 618,000 | |||||||||||||||||||||||||||||||||||
Acceleration of Equity Awards(2) | — | — | — | 3,945,171 | — | 3,945,171 | |||||||||||||||||||||||||||||||||||
Cash severance payment(3) | — | 772,500 | — | — | — | 1,030,000 | |||||||||||||||||||||||||||||||||||
Life insurance | — | — | — | 1,503,000 | — | — | |||||||||||||||||||||||||||||||||||
Accrued and unpaid vacation | — | 29,712 | 29,712 | 29,712 | — | 29,712 | |||||||||||||||||||||||||||||||||||
Total | 0 | 1,420,212 | 29,712 | 6,095,883 | — | 5,622,883 |
64 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Severance and Change in Control Agreements | |||||
2022 Proxy Statement | Acushnet Holdings Corp. | 65 |
SEVERANCE AND CHANGE IN CONTROL | |||||||||||
66 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Director Compensation | |||||
Name | Name | Fees Earned or Paid in Cash | Stock Awards(1)(2) | Total | Name | Fees Earned or Paid in Cash ($) | Stock Awards ($)(1)(2) | Total ($) | |||||||||||||||||||||||||||||||||||
Yoon Soo (Gene) Yoon | Yoon Soo (Gene) Yoon | $ | 110,000 | $ | 139,985 | $ | 249,985 | Yoon Soo (Gene) Yoon | 151,250 | 154,983 | 306,233 | ||||||||||||||||||||||||||||||||
Jennifer Estabrook | $ | 95,000 | $ | 109,983 | $ | 204,983 | |||||||||||||||||||||||||||||||||||||
Jennifer Estabrook(3) | Jennifer Estabrook(3) | 102,500 | 124,980 | 227,480 | |||||||||||||||||||||||||||||||||||||||
Gregory Hewett | Gregory Hewett | $ | 92,500 | $ | 109,983 | $ | 202,483 | Gregory Hewett | 100,000 | 124,980 | 224,980 | ||||||||||||||||||||||||||||||||
Jan Singer(4) | Jan Singer(4) | 12,233 | 69,504 | 81,737 | |||||||||||||||||||||||||||||||||||||||
Sean Sullivan | Sean Sullivan | $ | 100,000 | $ | 109,983 | $ | 209,983 | Sean Sullivan | 107,500 | 124,980 | 232,480 | ||||||||||||||||||||||||||||||||
Steven Tishman | Steven Tishman | $ | 92,500 | $ | 109,983 | $ | 202,483 | Steven Tishman | 100,000 | 124,980 | 224,980 | ||||||||||||||||||||||||||||||||
Walter Uihlein(3) | $ | 82,000 | $ | 109,983 | $ | 191,983 | |||||||||||||||||||||||||||||||||||||
Norman Wesley(4)(5) | $ | 32 | $ | — | $ | 32 | |||||||||||||||||||||||||||||||||||||
Keun Chang (Kevin) Yoon | $ | 70,000 | $ | 109,983 | $ | 179,983 | |||||||||||||||||||||||||||||||||||||
Walter Uihlein(5) | Walter Uihlein(5) | 91,750 | 124,980 | 216,730 | |||||||||||||||||||||||||||||||||||||||
Keun Chang (Kevin) Yoon(6) | Keun Chang (Kevin) Yoon(6) | 77,500 | 124,980 | 202,480 |
Name | Outstanding RSU Awards | ||||||||||
Yoon Soo (Gene) Yoon | |||||||||||
Jennifer Estabrook | |||||||||||
Gregory Hewett | |||||||||||
Jan Singer | 1,257 | ||||||||||
Sean Sullivan | |||||||||||
Steven Tishman |
2022 Proxy Statement | Acushnet Holdings Corp. | 67 |
2020 Director Compensation Program | ||||||||||||||
Chair | Member | |||||||||||||
Annual Board Retainers: | ||||||||||||||
Cash Retainer(1) | $ | 110,000 | $ | 70,000 | ||||||||||
Equity Retainer(2) | $ | 140,000 | $ | 110,000 | ||||||||||
Annual Committee Cash Retainers: | ||||||||||||||
Audit Committee | $ | 25,000 | $ | 12,500 | ||||||||||
Compensation Committee | $ | 20,000 | $ | 10,000 | ||||||||||
Nominating and Corporate Governance | $ | 12,000 | $ | 5,000 |
DIRECTOR COMPENSATION | TABLE OF CONTENTS | ||||||||||
Chair ($) | Member ($) | |||||||||||||||||||
Annual Board Retainers: | ||||||||||||||||||||
Cash Retainer(1) | 165,000 | 80,000 | ||||||||||||||||||
Equity Retainer(2)(3) | 155,000 | 125,000 | ||||||||||||||||||
Annual Committee Cash Retainers: | ||||||||||||||||||||
Audit Committee | 25,000 | 12,500 | ||||||||||||||||||
Compensation Committee | 20,000 | 10,000 | ||||||||||||||||||
Nominating and Corporate Governance | 15,000 | 5,000 |
68 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Securities Authorized for Issuance Under Equity Compensation Plans | |||||
Plan Category | Number of Shares to be Issued Upon Exercise of Outstanding Options, Warrants and Rights | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights | Number of Shares Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in 1st Column) | |||||||||||||||||
Equity compensation plans approved by stockholders: | ||||||||||||||||||||
Acushnet Holdings Corp. 2015 Incentive Plan | 2,511,238 | (1) | 4,105,688 | |||||||||||||||||
Equity compensation plans not approved by stockholders | — | N/A | — | |||||||||||||||||
Total | 2,511,238 | 4,105,688 |
Plan Category | Number of Shares to be Issued Upon Exercise of Outstanding Options, Warrants and Rights (#) | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights (#) | Number of Shares Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in 1st Column) (#) | |||||||||||||||||||||||
Equity compensation plans approved by stockholders: | ||||||||||||||||||||||||||
Acushnet Holdings Corp. 2015 Incentive Plan | 2,688,753(1) | 3,739,809 | ||||||||||||||||||||||||
Equity compensation plans not approved by stockholders | — | N/A | — | |||||||||||||||||||||||
Total | 2,688,753 | 3,739,809 |
2022 Proxy Statement | Acushnet Holdings Corp. | 69 |
Pay Ratio Disclosure | |||||
70 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Principal Stockholders | |||||
Name of beneficial owner | Number | Percentage | ||||||||||||
Stockholders: | ||||||||||||||
Fila(1) | 38,453,827 | 51.9 | % | |||||||||||
Kayne Anderson Rudnick Investment Management LLC(2) | 7,146,052 | 9.6 | % | |||||||||||
Named Executive Officers and Directors: | ||||||||||||||
David Maher(3) | 300,476 | * | ||||||||||||
Thomas Pacheco(3) | 32,707 | * | ||||||||||||
Mary Louise Bohn(3) | 97,351 | * | ||||||||||||
Steven Pelisek(3) | 87,616 | * | ||||||||||||
Christopher Lindner(3) | 61,195 | * | ||||||||||||
Yoon Soo (Gene) Yoon(1)(3)(4) | 38,482,244 | 52.0 | % | |||||||||||
Walter (Wally) Uihlein(3) | 754,953 | 1 | % | |||||||||||
Jennifer Estabrook(3)(5) | 26,846 | * | ||||||||||||
Gregory Hewett(3) | 31,546 | * | ||||||||||||
Sean Sullivan(3) | 24,046 | * | ||||||||||||
Steven Tishman(3) | 26,046 | * | ||||||||||||
Keun Chang (Kevin) Yoon(1)(3)(4) | 38,462,151 | 51.9 | % | |||||||||||
All current executive officers and directors as a group (15 persons)(3) | 40,089,204 | 54.1 | % |
2022 Proxy Statement | Acushnet Holdings Corp. | 71 |
PRINCIPAL STOCKHOLDERS | ||||||||||||||
Name of beneficial owner | Number (#) | Percentage (%) | |||||||||||||||
Stockholders: | |||||||||||||||||
Fila(1) | 37,104,008 | 51.3 | |||||||||||||||
Kayne Anderson Rudnick Investment Management LLC(2) | 8,168,819 | 11.3 | |||||||||||||||
Named Executive Officers and Directors: | |||||||||||||||||
David Maher(3) | 501,703 | * | |||||||||||||||
Thomas Pacheco(3) | 57,984 | * | |||||||||||||||
Mary Louise Bohn(3) | 148,992 | * | |||||||||||||||
Steven Pelisek(3) | 115,114 | * | |||||||||||||||
Christopher Lindner(3) | 80,203 | * | |||||||||||||||
Yoon Soo (Gene) Yoon(1)(3)(4) | 37,135,710 | 51.3 | |||||||||||||||
Jennifer Estabrook(3)(5) | 29,546 | * | |||||||||||||||
Gregory Hewett(3) | 32,746 | * | |||||||||||||||
Jan Singer(3) | 1,262 | * | |||||||||||||||
Sean Sullivan(3) | 26,746 | * | |||||||||||||||
Steven Tishman(3) | 28,746 | * | |||||||||||||||
Keun Chang (Kevin) Yoon(1)(3)(4) | 37,114,748 | 51.3 | |||||||||||||||
All current executive officers and directors as a group (15 persons)(3) | 38,327,170 | 53.0 |
72 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Certain Relationships and Related Party Transactions | |||||
2022 Proxy Statement | Acushnet Holdings Corp. | 73 |
CERTAIN RELATIONSHIPS | TABLE OF CONTENTS | |||||||||||||
74 | Acushnet Holdings Corp. | 2022 Proxy Statement |
Other Matters | |||||
2022 Proxy Statement | Acushnet Holdings Corp. | 75 |