TABLE OF CONTENTS
Table of Contents
Summary Compensation Table
The following table sets forth all of the compensation awarded to, earned by, or paid to our
"principal executive officer," "principal financial officer" and our three other highest paid executive officers (our "NEOs") for 2015: | | | | | | | | | | | | | | | | | | | | | | | | | |
Name and Principal Position
| | Year | | Salary ($) | | Bonus ($)(2) | | Stock Awards ($)(3) | | Option Awards ($)(8) | | Non-Equity Incentive Plan Compensation (9) | | All Other Compensation ($) | | Total ($) | |
---|
Stephen G. Waldis | | | 2015 | | | 591,165 | | | 59,117 | | | 4,269,514 | (4) | | 1,128,651 | | | 762,099 | | | 23,613 | (10) | | 6,834,159 | |
Chairman of the | | | 2014 | | | 573,947 | | | 57,395 | | | 2,879,044 | | | 1,429,622 | | | 903,966 | | | 33,051 | | | 5,877,025 | |
Board and CEO | | | 2013 | | | 557,230 | | | 40,692 | | | 3,211,040 | | | 1,246,512 | | | 139,308 | | | 37,061 | | | 5,231,843 | |
Karen L. Rosenberger | | | 2015 | | | 330,000 | | | 29,700 | | | 1,011,634 | (5) | | 267,436 | | | 212,709 | | | 19,704 | (11) | | 1,871,183 | |
EVP, Chief Financial | | | 2014 | | | 286,002 | | | 22,500 | | | 969,045 | | | 223,224 | | | 236,250 | | | 14,905 | | | 1,751,926 | |
Officer and Treasurer | | | 2013 | | | 236,900 | | | 4,027 | | | 169,693 | | | 65,262 | | | 36,246 | | | 7,650 | | | 519,778 | |
Robert Garcia | | | 2015 | | | 437,091 | | | 39,338 | | | 2,798,597 | (6) | | 739,817 | | | 394,432 | | | 17,150 | (12) | | 4,426,425 | |
President & Chief | | | 2014 | | | 424,360 | | | 38,192 | | | 2,395,400 | | | 889,514 | | | 467,857 | | | 17,000 | | | 4,242,323 | |
Operating Officer | | | 2013 | | | 412,000 | | | 28,900 | | | 1,680,753 | | | 652,624 | | | 72,100 | | | 7,650 | | | 2,854,028 | |
Daniel Rizer | | | 2015 | | | 385,786 | | | 42,000 | | | 1,553,078 | (7) | | 167,139 | | | 379,010 | | | 7,950 | (13) | | 2,534,963 | |
EVP, Business | | | 2014 | | | 318,270 | | | 28,644 | | | 664,450 | | | 245,322 | | | 250,638 | | | 7,800 | | | 1,515,124 | |
Development and | | | 2013 | | | 309,000 | | | 6,000 | | | 409,008 | | | 158,261 | | | 54,000 | | | 7,650 | | | 943,920 | |
Product Management | | | | | | | | | | | | | | | | | | | | | | | | | |
David Schuette(1) | | | 2015 | | | 183,333 | | | 250,000 | | | 2,004,025 | | | 195,979 | | | — | | | — | | | 2,633,337 | |
EVP, Enterprise | | | | | | | | | | | | | | | | | | | | | | | | | |
(1)Mr. Schuette's employment with us commenced on August 1, 2015.
(2)The amounts set forth in this column represent the subjective individual component portion of our annual cash incentive bonus awards paid to the NEOs. See "Compensation Discussion and Analysis" above for further discussion of the subjective individual component.
(3)The amounts in this column reflect the grant date fair value, computed in accordance with FASB ASC Topic No. 718, of the actual number of performance share awards granted to our NEOs and the time-based restricted stock awarded to our NEOs. See "Compensation Discussion and Analysis" above for further discussion of these stock awards. See Footnote 2 to the Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2015 for a discussion of our assumptions in estimating the fair value of our stock awards. Our executive officers will not realize the estimated value of these awards until these awards are sold.
(4)Although the actual number of performance-based shares was used in the Summary Compensation Table, the grant date fair market value of the performance-based restricted share award assuming the highest level of performance conditions was achieved was $5,330,060.
(5)Although the actual number of performance-based shares was used in the Summary Compensation Table, the grant date fair market value of the performance-based restricted share award assuming the highest level of performance conditions was achieved was $1,262,925.
(6)Although the actual number of performance-based shares was used in the Summary Compensation Table, the grant date fair market value of the performance-based restricted share award assuming the highest level of performance conditions was achieved was $3,493,818.
(7)Although the actual number of performance-based shares was used in the Summary Compensation Table, the grant date fair market value of the performance-based restricted share award assuming the highest level of performance conditions was achieved was $799,576.
(8)The amounts in this column reflect the grant date fair value, computed in accordance with FASB ASC Topic No. 718, of option awards granted to our NEOs. See Footnote 2 to the Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2015 for a discussion of our assumptions in estimating the fair value of our stock option awards. Our NEOs will not realize the estimated value of these awards until these awards are exercised or sold.
(9)The amounts under this column include amounts paid based on the objective corporate component of the Company's annual incentive bonus compensation plan described under "Compensation Discussion and Analysis."
(10)Reflects amounts paid to Mr. Waldis for leasing an automobile, including insurance premiums, and 401(k) matching contribution.
(11)Reflects amounts paid to Ms. Rosenberger for leasing an automobile, including insurance premiums, and 401(k) matching contribution.
(12)Reflects amounts paid for a car allowance (including insurance), and 401(k) matching contribution.
(13)Reflects amounts paid to Mr. Rizer for 401(k) matching contribution.
years indicated: | Jeffrey Miller
President and Chief Executive Officer | | | 2022 | | | 500,000 | | | | | | 1,413,856(3) | | | 485,229 | | | 350,000 | | | 7,000(10) | | | 2,756,085 | |
| 2021 | | | 500,000 | | | | | | 3,293,156 | | | 603,768 | | | 244,000 | | | 7,000 | | | 4,647,924 | |
| 2020 | | | 403,110 | | | | | | 600,000 | | | 113,857 | | | 291,647 | | | 7,000 | | | 1,415,614 | |
| Louis Ferraro
Chief Financial Officer | | | 2022 | | | 345,833 | | | | | | 439,582(4) | | | 146,527 | | | 142,917 | | | 7,000(10) | | | 1,081,860 | |
| 2021 | | | 321,250 | | | | | | 262,215 | | | 87,480 | | | 74,466 | | | 7,000 | | | 752,411 | |
| Christopher Hill
Chief Commercial Officer | | | 2022 | | | 385,000 | | | | | | 583,333(5) | | | 194,445 | | | 269,500 | | | 7,000(10) | | | 1,439,278 | |
| 2021 | | | 358,750 | | | | | | 534,893 | | | 106,776 | | | 174,358 | | | 7,000 | | | 1,181,777 | |
| 2020 | | | 321,083 | | | 15,000 | | | — | | | 148,426 | | | 273,813 | | | 7,000 | | | 765,322 | |
| Patrick Doran
Chief Technology Officer | | | 2022 | | | 379,890 | | | | | | 583,333(6) | | | 194,445 | | | 188,650 | | | 7,000(10) | | | 1,353,318 | |
| 2021 | | | 362,771 | | | | | | 932,433 | | | 121,892 | | | 124,533 | | | 7,000 | | | 1,548,629 | |
| 2020 | | | 323,903 | | | | | | 750,000 | | | 142,322 | | | 175,131 | | | 7,000 | | | 1,398,356 | |
| Christina Gabrys
Chief Legal Officer | | | 2022 | | | 281,250 | | | | | | 233,333(7) | | | 77,777 | | | 101,250 | | | 7,000(10) | | | 700,610 | |
| Taylor Greenwald(11)
Former Chief Financial Officer | | | 2022 | | | 254,583 | | | | | | — | | | — | | | — | | | — | | | 254,583 | |
| 2021 | | | 65,000 | | | | | | 900,000 | | | 300,183 | | | 45,500 | | | — | | | 1,270,683 | |
(1)
| The amounts set forth in this column represent the subjective individual component portion of our annual cash incentive bonus awards paid to the NEOs in 2022. See “Compensation Discussion and Analysis” above for further discussion of the subjective individual component. |
(2)
| The amounts in this column reflect the grant date fair value, computed in accordance with FASB ASC Topic No. 718, of the performance share awards (with the grant date fair value determined using the probable outcome of the performance conditions) and the time-based restricted stock awards granted to our NEOs. See “Compensation Discussion and Analysis” above for further discussion of these share awards. See Note 2 to the Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 for a discussion of our assumptions in estimating the fair value of our share awards. Our executive officers will not realize any value for these awards until sold. |
(3)
| Mr. Miller was granted performance-based restricted cash units as 2022-2024 Performance Cash Units as described in greater detail in “Compensation Discussion and Analysis” above. The grant date value of the performance-based restricted cash units assuming the highest level of performance conditions is achieved was $1,991,110. |
(4)
| Mr. Ferraro was granted performance-based restricted cash units as 2022-2024 Performance Cash Units as described in greater detail in “Compensation Discussion and Analysis” above. The grant date value of the performance-based restricted cash units assuming the highest level of performance conditions is achieved was $311,111. Mr. Ferraro was granted additional performance based restricted cash units in connection with his taking the role of Acting Chief Financial Officer (the “Acting Grant”) as described in greater detail in the “Compensation Discussion and Analysis” above. The grant date value of the Acting Grant assuming the highest level of performance conditions achieved was $165,000. Mr. Ferraro was granted additional performance based restricted cash units in connection with remaining in the role of Acting Chief Financial Officer for greater than 90 days (the “90 Day Grant”) as described in greater detail in the “Compensation Discussion and Analysis” above. The grant date value of the 90 Day Grant assuming the highest level of performance conditions achieved was $110,000. |
(5)
| Mr. Hill was granted performance-based restricted cash units as 2022-2024 Performance Cash Units as described in greater detail in “Compensation Discussion and Analysis” above. The grant date value of the performance-based restricted cash units assuming the highest level of performance conditions is achieved was $777,777. |
(6)
| Mr. Doran was granted performance-based restricted cash units as 2022-2024 Performance Cash Units as described in greater detail in “Compensation Discussion and Analysis” above. The grant date value of the performance-based restricted cash units assuming the highest level of performance conditions is achieved was $777,777. |
(7)
| Ms. Gabrys was granted performance-based restricted cash units as 2022-2024 Performance Cash Units as described in greater detail in “Compensation Discussion and Analysis” above. The grant date value of the performance-based restricted cash units assuming the highest level of performance conditions is achieved was $311,111. |
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Table of Contents
(8)
| The amounts in this column reflect the grant date fair value, computed in accordance with FASB ASC Topic No. 718, of option awards granted to our NEOs. See Note 2 to the Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 for a discussion of our assumptions in estimating the fair value of our stock option awards. Our NEOs will not realize any value with respect to these awards until these awards are exercised or sold. |
(9)
| The amounts under this column include amounts earned based on our Company’s annual cash incentive bonus compensation plan described under “Compensation Discussion and Analysis” above. |
(10)
| Reflects amounts paid for 401(k) Company match. |
(11)
| Mr. Greenwald was granted performance-based restricted cash units as 2022-2024 Performance Cash Units as described in greater detail in “Compensation Discussion and Analysis” above. The grant date value of the performance based restricted cash units assuming the highest level of performance conditions is achieved was $777,777. Because Mr. Greenwald’s employment was terminated prior to February 2025, he will not be entitled to any 2022-2024 performance based restricted cash units. Mr. Greenwald was not granted restricted stock awards or stock options. |
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Grants of Plan Based Awards
The following table sets forth each plan-based award granted to our NEOs during the year ended December 31,
2015.2022. The FASB ASC Topic No. 718 value of these awards is also reflected in the Stock Awards and Option Awards columns of the Summary Compensation Table above:
| Jeffrey Miller | | | | | | 250,000 | | | 500,000 | | | 1,000,000 | | | 418,301 | | | 836,601 | | | 1,673,202 | | | | | | | | | | | | | |
| 7/12/2022 | | | | | | | | | | | | | | | | | | | | | 418,301 | | | 418,301 | | | 1.16 | | | 970,458 | |
| Louis Ferraro(4) | | | | | | 102,084 | | | 204,167 | | | 408,334 | | | 65,360 | | | 130,719 | | | 261,438 | | | | | | | | | | | | | |
| 7/8/2022 | | | | | | | | | | | | | | | | | | | | | 65,359 | | | 65,359 | | | 1.19 | | | 155,554 | |
| 8/9/2022 | | | | | | | | | | | | 25,000 | | | 50,000 | | | 100,000 | | | 25,000 | | | 25,000 | | | 1.65 | | | 82,500 | |
| 11/2/2022 | | | | | | | | | | | | 25,000 | | | 50,000 | | | 100,000 | | | 25,000 | | | 25,000 | | | 1.10 | | | 55,000 | |
| Chris Hill | | | | | | 192,500 | | | 385,000 | | | 770,000 | | | 163,399 | | | 326,797 | | | 653,594 | | | | | | | | | | | | | |
| 7/8/2022 | | | | | | | | | | | | | | | | | | | | | 163,399 | | | 163,399 | | | 1.19 | | | 388,890 | |
| Patrick Doran | | | | | | 134,750 | | | 269,500 | | | 539,000 | | | 163,399 | | | 326,797 | | | 653,594 | | | | | | | | | | | | | |
| 7/8/2022 | | | | | | | | | | | | | | | | | | | | | 163,399 | | | 163,399 | | | 1.19 | | | 388,890 | |
| Christina Gabrys | | | | | | 72,500 | | | 145,000 | | | 290,000 | | | 65,360 | | | 130,719 | | | 261,438 | | | | | | | | | | | | | |
| 7/8/2022 | | | | | | | | | | | | | | | | | | | | | 65,359 | | | 65,359 | | | 1.19 | | | 155,554 | |
| Taylor Greenwald(5) | | | | | | 136,500 | | | 273,000 | | | 546,000 | | | 163,399 | | | 326,797 | | | 653,594 | | | | | | | | | | | | | |
(1)
| Each of our NEOs was granted a non-equity incentive plan award pursuant to our 2022 annual cash incentive bonus compensation plan. The amounts shown in the “Threshold” column reflect the cash payment that would have been awarded under our 2022 annual cash incentive bonus plan if we had achieved the threshold payout level for a single corporate objective with the lowest weight. The amounts shown in the “Target” column reflect the target payment level under our 2022 annual cash incentive bonus plan if we had achieved all of the objectives previously approved by our Compensation Committee at target levels. The amounts shown in the “Maximum” column reflect the maximum payouts under our 2022 annual cash incentive bonus compensation plan if we had achieved all of the objectives previously approved by our Compensation Committee at or above the maximum level. The corporate and business components of our 2022 annual cash incentive bonus compensation plan are discussed in greater detail in “Compensation Discussion and Analysis” above. The actual amounts paid to each NEO are shown in the Summary Compensation Table above. |
(2)
| Reflects 2022-2024 Performance-Based Restricted Cash Units as described in greater detail in “Compensation Discussion and Analysis” above. The amounts shown in the “Threshold” column reflect the 2022-2024 Performance Cash Units that will be earned if certain minimum financial goals are achieved. The amounts shown in the “Target” column reflect the number of 2022-2024 Performance-Based Restricted Cash Units that will be earned if all of the 2022-2024 financial goals are achieved at target levels. The amounts shown in the “Maximum” column reflect the maximum number of 2022-2024 Performance-Based Restricted Cash Units that can be earned if all of the 2022-2024 financial goals are achieved at or above maximum levels. |
(3)
| The amount in this column reflects the grant date fair value, computed in accordance with FASB ASC Topic No. 718, of stock awards and options granted to our NEOs. See Note 2 to the Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 for a discussion of our assumptions in estimating the fair value of our stock and option awards. |
(4)
| Mr. Ferraro’s salary was increased to $375,000 upon him becoming Acting Chief Financial Officer in August 2022. The amount he received under the 2022 Cash Incentive Bonus Compensation Plan was prorated accordingly. Mr. Ferraro received a special Acting Grant and 90 Day Grant in the amounts set forth in the table above upon him becoming Acting Chief Financial Officer in August 2022 and upon him remaining in that role for greater than 90 days. |
(5)
| Mr. Greenwald’s employment was terminated effective October 10, 2022 when his leave of absence was not extended by mutual agreement and therefore he will not receive any amounts under the 2022 Cash Incentive Bonus Compensation Plan, his 2022 performance-based restricted cash units have been cancelled and all of his unvested equity awards have been cancelled. |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
| | Estimated Future Payouts Under Non-Equity Incentive Plan Awards(1) | | Performance Stock Awards: Number of Shares of Stock or Units | | Number of Shares of Stock or Units (#) | |
| | Exercise or Base Price of Option Awards ($/Sh) | |
| |
---|
| |
| | Awards Securities Underlying Options (#) | | Value of Stock and Option Awards ($)(11) | |
---|
Name | | Grant Date | | Threshold ($) | | Target ($) | | Maximum ($) | | Threshold (#) | | Target (#) | | Maximum (#) | |
---|
Stephen G. | | | | | | 146,313 | | | 585,253 | | | 1,024,193 | | | | | | | | | | | | | | | | | | | | | | |
Waldis | | | 2/9/2015 | | | | | | | | | | | | | | | | | | | | | | | | 70,546 | (9) | | 41.37 | | | 1,128,651 | |
| | | 2/9/2015 | | | | | | | | | | | | | | | | | | | | | 25,901 | (5) | | | | | | | | 1,071,524 | |
| | | 2/9/2015 | | | | | | | | | | | | 12,951 | | | 25,901 | | | 51,802 | (2) | | | | | | | | | | | 1,184,453 | |
| | | 2/9/2015 | | | | | | | | | | | | 12,951 | | | 25,901 | | | 51,802 | (3) | | | | | | | | | | | 1,421,288 | |
| | | 2/9/2015 | | | | | | | | | | | | 6,476 | | | 12,951 | | | 12,951 | (4) | | | | | | | | | | | 592,249 | |
Karen L. | | | | | | 44,550 | | | 178,200 | | | 311,850 | | | | | | | | | | | | | | | | | | | | | | |
Rosenberger | | | 2/9/2015 | | | | | | | | | | | | | | | | | | | | | | | | 16,716 | (9) | | 41.37 | | | 267,436 | |
| | | 2/9/2015 | | | | | | | | | | | | | | | | | | | | | 6,137 | (5) | | | | | | | | 253,888 | |
| | | 2/9/2015 | | | | | | | | | | | | 3,069 | | | 6,137 | | | 12,274 | (2) | | | | | | | | | | | 280,645 | |
| | | 2/9/2015 | | | | | | | | | | | | 3,069 | | | 6,137 | | | 12,274 | (3) | | | | | | | | | | | 336,756 | |
| | | 2/9/2015 | | | | | | | | | | | | 1,535 | | | 3,069 | | | 3,069 | (4) | | | | | | | | | | | 140,345 | |
Robert E. | | | | | | 78,676 | | | 314,706 | | | 550,735 | | | | | | | | | | | | | | | | | | | | | | |
Garcia | | | 2/9/2015 | | | | | | | | | | | | | | | | | | | | | | | | 46,242 | (9) | | 41.37 | | | 739,817 | |
| | | 2/9/2015 | | | | | | | | | | | | | | | | | | | | | 16.978 | (5) | | | | | | | | 702,380 | |
| | | 2/9/2015 | | | | | | | | | | | | 8,489 | | | 16,978 | | | 33,956 | (2) | | | | | | | | | | | 776,404 | |
| | | 2/9/2015 | | | | | | | | | | | | 8,489 | | | 16,978 | | | 33,956 | (3) | | | | | | | | | | | 931,612 | |
| | | 2/9/2015 | | | | | | | | | | | | 4,245 | | | 8,489 | | | 8,489 | (4) | | | | | | | | | | | 388,202 | |
Daniel Rizer | | | | | | 69,441 | | | 277,766 | | | 486,091 | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/9/2015 | | | | | | | | | | | | | | | | | | | | | | | | 10,477 | (9) | | 41.37 | | | 167,139 | |
| | | 2/9/2015 | | | | | | | | | | | | | | | | | | | | | 3,836 | (5) | | | | | | | | 158.695 | |
| | | 2/9/2015 | | | | | | | | | | | | 1,918 | | | 3,836 | | | 7,672 | (2) | | | | | | | | | | | 177,684 | |
| | | 2/9/2015 | | | | | | | | | | | | 1,918 | | | 3,836 | | | 7,672 | (3) | | | | | | | | | | | 213,257 | |
| | | 2/9/2015 | | | | | | | | | | | | 959 | | | 1,918 | | | 1,918 | (4) | | | | | | | | | | | 88,842 | |
| | | 5/11/2015 | | | | | | | | | | | | | | | | | | | | | 20,000 | (6) | | | | | | | | 914,600 | |
David Schuette | | | | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | | | | | |
| | | 8/1/2015 | | | | | | | | | | | | | | | | | | | | | | | | 13,751 | (10) | | 39.10 | | | 195,979 | |
| | | 8/1/2015 | | | | | | | | | | | | | | | | | | | | | 5,039 | (7) | | | | | | | | 197,025 | |
| | | 12/17/2015 | | | | | | | | | | | | | | | | | | | | | 50,000 | (8) | | | | | | | | 1,807,000 | |
Synchronoss Technologies 47
(1)Each of our NEOs was granted a non-equity incentive plan award pursuant to our 2015 annual incentive bonus compensation plan. The amounts shown in the "Threshold" column reflect the cash payment level under our 2015 annual incentive bonus plan if we achieved the threshold payout level for a single corporate objective with the lowest weight. The amounts shown in the "Target" column reflect the target payment level under our 2015 annual incentive bonus plan if we achieved all of the objectives previously approved by our Compensation Committee. The amounts shown in the "Maximum" column reflect the maximum payouts under our 2015 annual incentive bonus compensation plan with respect to the objectives previously approved by our Compensation Committee. The corporate and business components of our 2015 annual incentive bonus compensation plan are discussed in greater detail in "Compensation Discussion and Analysis." The actual amounts paid to each NEO are shown in the Summary Compensation Table above. The table does not include the individual discretionary component portion of the NEO's aggregate targeted annual cash incentive bonus amount.
(2)Reflects a 2015-2017 performance-based restricted share award as described in greater detail in "Compensation Discussion and Analysis." The 2015-2017 performance-based restricted share awards triggered the issuance of a certain number of restricted shares of Common Stock based on the achievement of our 2015-2017 financial performance. The amounts shown in the "threshold" column reflect the minimum number of restricted shares of Common Stock issuable under the 2015-2017 performance-based restricted share awards if certain minimum financial goals were achieved. The amounts shown in the "target" column reflect the number of restricted shares of Common Stock issuable under the 2015-2017
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performance-based restricted share awards if all of the 2015-2017 financial goals were achieved at on-target levels. The amounts shown in the "maximum" column reflect the maximum number of restricted shares of Common Stock issuable under the 2015-2017 performance-based restricted share if all of the 2015-2016 financial goals were surpassed.
(3)Reflects a special one-time 2015-2016 performance-based restricted share award as part of the transition to a three-year performance criteria for our performance-based restricted share awards, as described in greater detail in "Compensation Discussion and Analysis." One-third of the performance-based share awards triggered the issuance of a certain number of restricted shares of Common Stock based on the achievement of our 2015 financial performance and two-thirds of the performance-based restricted shares awards trigger the issuance of a certain number of restricted shares of Common Stock based on the achievement of our 2016 financial performance. The amounts shown in the "threshold" column reflect the minimum number of restricted shares of Common Stock issuable under the 2015-2016 performance-based restricted share awards if certain minimum financial goals were achieved. The amounts shown in the "target" column reflect the number of restricted shares of Common Stock issuable under the 2015-2016 performance-based restricted share awards if all of the 2015-2016 financial goals were achieved at on-target levels. The amounts shown in the "maximum" column reflect the maximum number of restricted shares of Common Stock issuable under the 2015-2016 performance-based restricted share if all of the 2015-2016 financial goals were surpassed.
(4)Reflects a special "new business" performance-based restricted share award as described in greater detail in "Compensation Discussion and Analysis." The "new business" performance-based restricted share awards triggered the issuance of a certain number of restricted shares of Common Stock based on the achievement of certain criteria after the end of the three-year period commencing January 1, 2015. The amounts shown in the "threshold" column reflect the minimum number of restricted shares of Common Stock issuable under the "new business" performance-based restricted share awards if certain minimum financial goals were achieved with respect to the "new business". The amounts shown in the "target" column reflect the number of restricted shares of Common Stock issuable under the "new business" performance-based restricted share awards if all of the "new business" criteria were achieved at on-target levels during the three-year period commencing January 1, 2015. The amounts shown in the "maximum" column reflect the maximum number of restricted shares of Common Stock issuable under the "new business" performance-based restricted share if all of the "new business" criteria were surpassed during the three-year period commencing January 1, 2015.
(5)One-third of the restricted shares issued vests on February 9 of each of 2016, 2017 and 2018, provided he or she remains continuously employed by our Company through each such date.
(6)One-fourth of the restricted shares vests on May 11, 2016, and an additional 1/16th of the restricted shares vest upon completion of each period of three-months of continuous service thereafter.
(7)One-fourth of the restricted shares vests on August 1, 2016 provided he has continuous service from the grant date, and an additional 1/16th of the restricted shares vest upon completion of each period of three-months of continuous service thereafter.
(8)One-fourth of the restricted shares vests on December 17, 2016 provided he has continuous service from the grant date, and an additional 1/16th of the restricted shares vest upon completion of each period of three-months of continuous service thereafter.
(9)Each stock option becomes exercisable with respect to the first 25% of the shares subject to the option upon completion of 12 months of continuous service after February 9, 2015, and with respect to an additional1/48 of the shares subject to the option upon completion of each month of continuous service thereafter.
(10)Each stock option becomes exercisable with respect to the first 25% of the shares subject to the option upon completion of 12 months of continuous service after August 1, 2015, and with respect to an additional1/48th of the shares subject to the option upon completion of each month of continuous service thereafter.
(11)The amount in this column reflects the grant date fair value, computed in accordance with FASB ASC Topic No. 718, of stock awards and options granted to our NEOs. See Footnote 2 to the Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2015 for a discussion of our assumptions in estimating the fair value of our stock and option awards.
Table of Contents
Description of Awards Granted in
2015 | | | | | | |
| | | | | | |
• | | | | | | |
| | • | | Stephen G. Waldis: | | |
| | | | Jeffrey Miller:
On February 9, 2015,July 12, 2022, we granted Mr. WaldisMiller (i) an option to purchase 70,546418,301 shares of our Common Stock, (ii) 25,901a restricted stock award of 418,301 shares, and (iii) a target award of 836,601 2022-2024 Performance-Based Restricted Cash Units, which are earned based on our Company’s achievement of performance metrics to be established by the Compensation Committee during fiscal year 2022, 2023, and 2024 discussed in the Compensation Discussion and Analysis section in this Proxy Statement. | |
| • | | | Louis Ferraro, Jr.:
On July 8, 2022, we granted Mr. Ferraro (i) an option to purchase 65,359 shares of our Common Stock, (iii)(ii) a performance-based restricted stock award pursuantof 65,359 shares, and (iii) a target award of 130,719 2022-2024 Performance-Based Restricted Cash Units, which are earned based on our Company’s achievement of performance metrics to whichbe established by the Compensation Committee during fiscal year 2022, 2023 and 2024 discussed in the Compensation Discussion and Analysis section in this Proxy Statement. On August 9, 2022, we granted Mr. Waldis is entitledFerraro (i) an option to receive up to 51,802 restrictedpurchase 25,000 shares of our Common Stock, (ii) a restricted Common Stock award of 25,000 shares and (iii) a target award of 50,000 2022-2024 Performance-Based Restricted Cash Units, which are earned based on our Company'sCompany’s achievement of performance metrics to be established by the Compensation Committee during fiscal year 2022, 2023 and 2024 discussed in the Compensation Discussion and Analysis section of this proxy for the 2015-2017 Performance Shares, (iv) a performance-based restricted stock award pursuantProxy Statement. On November 2, 2022, we granted Mr. Ferraro (i) an option to which Mr. Waldis was entitled to receive up to 51,802 restrictedpurchase 25,000 shares of our Common Stock, (ii) a restricted stock award of 25,000 shares and (iii) a target award of 50,000 2022-2024 Performance-Based Restricted Cash Units, which are earned based on our Company'sCompany’s achievement of performance metrics to be established by the Compensation Committee during fiscal year 2022, 2023 and 2024 discussed in the Compensation Discussion and Analysis section of this proxy for the 2015-2016 Performance Shares and (v) a performance-based restricted stock award pursuantProxy Statement. | |
| • | | | Christopher Hill:
On July 8, 2022, we granted Mr. Hill (i) an option to which Mr. Waldis is entitled to receive up to 12,951 restrictedpurchase 163,399 shares of our Common Stock, (ii) a restricted stock award of 163,399 shares, and (iii) a target award of 326,797 2022-2024 Performance-Based Restricted Cash Units, which are earned based on our Company'sCompany’s achievement of performance metrics to be established by the Compensation Committee during fiscal year 2022, 2023, and 2024 discussed in the Compensation Discussion and Analysis section ofin this proxy for the New Business Performance Shares. On January 27, 2016, 13,813 2015-2016 Performance Shares were issued to Mr. Waldis based on our Company's 2015 financials. | Proxy Statement. | |
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| | • | | Karen L. Rosenberger: | | |
| | | | Patrick Doran:
On February 9, 2015,July 8, 2022, we granted Ms. RosenbergerMr. Doran (i) an option to purchase 16,716163,399 shares of our Common Stock, (ii) 6,137 restricted shares of our Common Stock, (iii) a performance-based restricted stock award pursuant toof 163,399 shares, and (iii) a target award of 326,797 2022-2024 Performance-Based Restricted Cash Units, which Ms. Rosenberger is entitled to receive up to 12,274 restricted shares of our Common Stockare earned based on our Company'sCompany’s achievement of performance metrics to be established by the Compensation Committee during fiscal year 2022, 2023, and 2024 discussed in the Compensation Discussion and Analysis section ofin this proxy for the 2015-2017 Performance Shares, (iv) a performance-based restricted stock award pursuantProxy Statement. | |
| • | | | Christina Gabrys
On July 8, 2022, we granted Ms. Gabrys (i) an option to which Ms. Rosenberger was entitled to receive up to 12,274 restrictedpurchase 65,359 shares of our Common Stock, (ii) a restricted stock award of 65,359 shares, and (iii) a target award of 130,719 2022-2024 Performance-Based Restricted Cash Units, which are earned based on our Company'sCompany’s achievement of performance metrics to be established by the Compensation Committee during fiscal year 2022, 2023, and 2024 discussed in the Compensation Discussion and Analysis section in this Proxy Statement. | |
| • | | | Taylor Greenwald:
On July 8, 2022, we granted Mr. Greenwald a target award of this proxy for the 2015-2016 Performance Shares and (v) a performance-based restricted stock award pursuant to326,797 2022-2024 Performance-Based Restricted Cash Units, which Ms. Rosenberger is entitled to receive up to 3,069 restricted shares of our Common Stockare earned based on our Company'sCompany’s achievement of performance metrics to be established by the Compensation Committee during fiscal year 2022, 2023, and 2024 discussed in the Compensation Discussion and Analysis section in this Proxy Statement. Because Mr. Greenwald’s employment with the Company was terminated effective October 10, 2022 when his leave of this proxy for the New Business Performance Shares. On January 27, 2016, 3,272 2015-2016 Performance Shares were issued to Ms. Rosenbergerabsence was not mutually extended, all performance based on our Company's 2015 financials. | | |
| | | | | | |
| | • | | Robert E. Garcia: | restricted cash units and all unvested equity awards have been cancelled. | |
| | | | On February 9, 2015, we granted Mr. Garcia (i) an option to purchase 46,242 shares of our Common Stock, (ii) 16,978 restricted shares of our Common Stock, (iii) a performance-based restricted stock award pursuant to which Mr. Garcia is entitled to receive up to 33,956 restricted shares of our Common Stock based on the Company's performance metrics discussed in the Compensation Discussion and Analysis section of this proxy for the 2015-2017 Performance Shares, (iv) a performance-based restricted stock award pursuant to which Mr. Garcia was entitled to receive up to 33,956 restricted shares of our Common Stock based on the Company's performance metrics discussed in the Compensation Discussion and Analysis section of this proxy for the 2015-2016 Performance Shares and (v) a performance-based restricted stock award pursuant to which Mr. Garcia was entitled to receive up to 8,489 restricted shares of our Common Stock based on our Company's performance metrics discussed in the Compensation Discussion and Analysis section of this proxy for the New Business Performance Shares. On January 27, 2016, 9,052 2015-2016 Performance Shares were issued to Mr. Garcia based on our Company's 2015 financials. | | |
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| | • | | Daniel Rizer: | | |
| | | | On February 9, 2015, we granted Mr. Rizer (i) an option to purchase 10,447 shares of our Common Stock, (ii) 3,836 restricted shares of our Common Stock, (iii) a performance-based restricted stock award pursuant to which Mr. Rizer is entitled to receive up to 7,672 restricted shares of our Common Stock based on our Company's performance metrics discussed in the Compensation Discussion and Analysis section of this proxy for the 2015-2017 Performance Shares, (iv) a performance-based restricted stock award pursuant to which Mr. Rizer was entitled to receive up to 7,672 restricted shares of our Common Stock based on our Company's performance metrics discussed in the Compensation Discussion and Analysis section of this proxy for the 2015-2016 Performance Shares and (v) a performance-based restricted stock award pursuant to which Mr. Rizer is entitled to receive up to 1,918 restricted shares of our Common Stock based on our Company's performance metrics discussed in the Compensation Discussion and Analysis section of this proxy for the New Business Performance Shares. On January 27, 2016, 2,048 2015-2016 Performance Shares were issued to Mr. Rizer based on our Company's 2015 financials. On May 11, 2015, as a special one-time award, we granted Mr. Rizer 20,000 restricted shares of our Common Stock. | | |
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48Synchronoss Technologies
Table of ContentsTABLE OF CONTENTS
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| | • | | David Schuette: | | |
| | | | On August 1, 2015, in connection with his joining the Company, we granted Mr. Schuette (i) an option to purchase 13,751 shares of our Common Stock and (ii) 5,039 restricted shares of our Common Stock. On December 17, 2015, based on additional information and Mr. Schuette's performance in his initial months with our Company, we granted Mr. Schuette an additional 50,000 restricted shares of our Common Stock. | | |
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With respect to each of Messrs. Waldis, Garcia and Rizer and Ms. Rosenberger:
(a)each stock option granted becomes exercisable with respect to the first 25% of the shares subject to the option upon completion of 12 months of continuous service after February 9, 2015, and with respect to an additional1/48th of the shares subject to the option upon completion of each month of continuous service thereafter;
(b)one-third of the restricted shares issued to him or her on February 9, 2015 vests on each of February 8, 2016, 2017 and 2018, provided he or she remains continuously employed by our Company through each such date;
(c)the 2015-2017 Performance Shares shall vest upon issuance on or about January 2018, provided he or she remains continuously employed by our Company through such date;
(d)one-third of the 2015-2016 Performance Shares vested upon issuance on January 27, 2016;
(e)two-thirds of the 2015-2016 Performance Shares shall vest upon issuance in January 2017 based on our financial performance in 2016, provided the NEO remains continuously employed by our Company through such date; and
(e)the New Business Performance Shares shall vest upon issuance in January 2018 contingent on our Company meeting certain objectives, provided he or she remains continuously employed by our Company through such date.
With respect to Mr. Rizer's May 11, 2015 grant of restricted shares, one-fourth of the shares will vest on May 11, 2016 and an additional1/16th of the restricted shares will vest following each three-month period thereafter, subject to Mr. Rizer's continued service on each vesting date.
With respect to Mr. Schuette, (a) the stock option granted to him on August 1, 2015 becomes exercisable with respect to the first 25% of the shares subject to the option upon his completion of 12 months of continuous service after the grant date, and with respect to an additional1/48th of the shares subject to the option upon his completion of each month of continuous service thereafter and (b) with respect to the restricted shares granted to him on each of August 1, 2015 and December 17, 2015, the first 25% of the shares will vest upon his completion of 12 months of continuous service after the grant date, and an additional1/16th of the shares will vest upon his completion of each period of three months of continuous service thereafter.
Table of Contents
Outstanding Equity Awards at Fiscal Year-End
The following table sets forth information regarding each unexercised option and all unvested stock held by each of our NEOs as of December 31, 2015:2022:
| Jeffrey Miller | | | 84,357(2) | | | | | | 6.20 | | | 11/2/2025 | | | | | | | | | | | | | |
| | | | 26,061(3) | | | 3,723 | | | 6.88 | | | 6/6/2026 | | | | | | | | | | | | | |
| | | | 24,554(4) | | | 12,278 | | | 5.43 | | | 2/20/2027 | | | | | | | | | | | | | |
| | | | 83,649(5) | | | 167,299 | | | 3.95 | | | 3/8/2028 | | | | | | | | | | | | | |
| | | | | | | 418,301(6) | | | 1.16 | | | 7/12/2029 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | 101,266(7) | | | 62,785 | | | | | | | |
| | | | | | | | | | | | | | | | 418,301(8) | | | 259,347 | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | 77,349(9) | | | 47,956 | |
| | | | | | | | | | | | | | | | | | | | | | 455,695(10) | | | 282,531 | |
| | | | | | | | | | | | | | | | | | | | | | 257,383(11) | | | 159,577 | |
| | | | | | | | | | | | | | | | | | | | | | 836,601(12) | | | 518,693 | |
| Louis Ferraro | | | 8,283(3) | | | | | | 6.88 | | | 6/6/2026 | | | | | | | | | | | | | |
| | | | 13,812(4) | | | 6,906 | | | 5.43 | | | 2/20/2027 | | | | | | | | | | | | | |
| | | | 25,000(13) | | | | | | 3.74 | | | 9/11/2027 | | | | | | | | | | | | | |
| | | | 9,910(14) | | | 19,820 | | | 2.94 | | | 6/14/2028 | | | | | | | | | | | | | |
| | | | 10,000(15) | | | 10,000 | | | 2.91 | | | 8/5/2028 | | | | | | | | | | | | | |
| | | | | | | 65,359(6) | | | 1.19 | | | 7/8/2029 | | | | | | | | | | | | | |
| | | | | | | 25,000(16) | | | 1.65 | | | 8/9/2029 | | | | | | | | | | | | | |
| | | | | | | 25,000(17) | | | 1.10 | | | 11/2/2029 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | 65,359(18) | | | 40,523 | | | | | | | |
| | | | | | | | | | | | | | | | 25,000(19) | | | 15,500 | | | | | | | |
| | | | | | | | | | | | | | | | 25,000(20) | | | 15,500 | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | 50,376(11) | | | 31,233 | |
| | | | | | | | | | | | | | | | | | | | | | 230,719(12) | | | 143,046 | |
| Christopher Hill | | | 8,283(3) | | | | | | 6.88 | | | 6/6/2026 | | | | | | | | | | | | | |
| | | | 13,812(4) | | | 6,906 | | | 5.43 | | | 2/20/2027 | | | | | | | | | | | | | |
| | | | 7,000(21) | | | 7,000 | | | 3.43 | | | 7/1/2027 | | | | | | | | | | | | | |
| | | | 25,000(13) | | | | | | 3.74 | | | 9/11/2027 | | | | | | | | | | | | | |
| | | | 11,712(14) | | | 23,423 | | | 2.94 | | | 6/14/2028 | | | | | | | | | | | | | |
| | | | 11,111(22) | | | 22,223 | | | 2.25 | | | 10/18/2028 | | | | | | | | | | | | | |
| | | | | | | 163,399(6) | | | 1.19 | | | 7/8/2029 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | 23,423(23) | | | 14,522 | | | | | | | |
| | | | | | | | | | | | | | | | 22,223 (24) | | | 13,788 | | | | | | | |
| | | | | | | | | | | | | | | | 163,399(8) | | | 101,307 | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | 116,017(11) | | | 71,930 | |
| | | | | | | | | | | | | | | | | | | | | | 326,797(12) | | | 202,614 | |
| Patrick Doran | | | 64,152(25) | | | | | | 16.33 | | | 5/8/2024 | | | | | | | | | | | | | |
| | | | 22,470(26) | | | | | | 10.62 | | | 4/5/2025 | | | | | | | | | | | | | |
| | | | 26,061(3) | | | 3,723 | | | 6.88 | | | 6/6/2026 | | | | | | | | | | | | | |
| | | | 30,693(4) | | | 15,347 | | | 5.43 | | | 2/20/2027 | | | | | | | | | | | | | |
| | | | 22,523(14) | | | 45,045 | | | 2.94 | | | 6/14/2028 | | | | | | | | | | | | | |
| | | | | | | 163,399(6) | | | 1.19 | | | 7/8/2029 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | 45,045(23) | | | 27,928 | | | | | | | |
| | | | | | | | | | | | | | | | 163,399(8) | | | 101,307 | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | 96,686(9) | | | 59,945 | |
| | | | | | | | | | | | | | | | | | | | | | 114,490(11) | | | 70,984 | |
| | | | | | | | | | | | | | | | | | | | | | 326,797(12) | | | 202,614 | |