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Time and Place | ||
AAM World Headquarters Auditorium, One Dauch Drive, Detroit, Michigan | ||
Items of Business | (1) | |
(2) Approval of Amended and Restated AAM 2012 Omnibus Incentive Plan; | ||
(3) Advisory vote | ||
(4) Advisory vote on frequency of future advisory votes on executive compensation; | ||
(5) Ratification of the appointment of Deloitte & Touche LLP as | ||
(6) Other business properly presented at the meeting. | ||
Record Date | You may vote if you were an AAM stockholder at the close of business on March | |
Meeting Admission | Admission may be limited to AAM stockholders as of the record date and holders of valid proxies. Please be prepared to present identification for admittance. Stockholders holding stock in brokerage accounts will need to bring a copy of a brokerage statement reflecting stock ownership as of the record date. Cameras and recording devices will not be permitted. | |
Proxy Materials | We have elected to furnish materials for the | |
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PROPOSAL 2: APPROVAL OF AMENDED AND RESTATED AMERICAN AXLE & MANUFACTURING HOLDINGS, INC. 2012 OMNIBUS INCENTIVE PLAN | |
PROPOSAL 4: FREQUENCY OF FUTURE ADVISORY VOTES ON EXECUTIVE COMPENSATION | |
2016 COMPENSATION OF NON-EMPLOYEE DIRECTORS | |
2017 | |
APPENDIX A: AMENDED AND RESTATED AMERICAN AXLE & MANUFACTURING HOLDINGS, INC. 2012 OMNIBUS INCENTIVE PLAN |
JAMES A. McCASLIN Age Mr. McCaslin retired from Harley Davidson, Inc. in April 2010. Mr. McCaslin joined Harley Davidson in 1992 and held various senior executive leadership positions, including President and Chief Operating Officer of Harley-Davidson Motor Company from 2001 to 2009. From 1989 to 1992, he held manufacturing and engineering positions with JI Case, a manufacturer of agricultural equipment. Previously, he held executive positions in manufacturing and quality with Chrysler Corporation, Volkswagen of America and General Motors Corporation, where he began his 40-year career in manufacturing. From 2003 to 2006, he served on the Board of Directors of Maytag Corporation. Mr. McCaslin has served on a number of civic boards, including Boys and Girls Clubs of Greater Milwaukee, Manufacturing Skill Standards Council and Kettering University. Mr. McCaslin’s extensive operational expertise and experience in multiple manufacturing industries provide the Board with a valued resource in support of AAM's operational objectives, which include engineering, quality and technology leadership, operational excellence and global geographic and product diversification. | Director since 2011 | |||
WILLIAM P. MILLER II CFA Age Mr. Miller, Chartered Financial Analyst, is Head of Asset Allocation for the Saudi Arabian Investment Company. | Director since 2005 | |||
SAMUEL VALENTI III Age Mr. Valenti | Director since 2013 |
DAVID C. DAUCH Age David C. Dauch is | Director since 2009 | |||
Age Mr. | Director since 2015 | |||
PETER D. LYONS Age 61 Mr. Lyons, an attorney, is a partner and Regional Managing | Director since | |||
ELIZABETH A. Age Ms. Chappell has served as President and Chief Executive Officer of the Detroit Economic Club since 2002. Previously, she served as Executive Vice President, Corporate Communications & Investor Relations for Compuware Corporation. From 1995 to 2000, Ms.Chappell was President and Chief Executive Officer of a consulting firm she founded, The Chappell Group, Inc. For 16 years, Ms. Chappell held executive positions at AT&T. From 1999 to 2009, Ms. Chappell served on the Board of Directors of the Handleman Company. She also serves on a number of civic boards, including the Michigan State University Capital Campaign, Citizens Research Council, Detroit Regional Chamber, the United Way Board and Tocqueville Committee, and the Charter One Regional Advisory Board (Midwest). Ms. Chappell is a former board member of the Karmanos Cancer Institute, Michigan Economic Growth Authority and Hospice of Michigan. Ms. Chappell’s demonstrated leadership skills, entrepreneurial business experience and service on various boards enhance her contributions to the Board in the areas of investor relations, community outreach and corporate citizenship, marketing and communications, executive compensation and strategic business development. | Director since 2004 | |||
JOHN F. SMITH Age Mr. Smith is principal of Eagle Advisors LLC, a consulting firm | Director since 2011 |
Name of Director | Audit Committee | Compensation Committee | Nominating/ Corporate Governance Committee | Executive Committee | Technology Committee | Strategy Committee | Audit Committee | Compensation Committee | Nominating/ Corporate Governance Committee | Executive Committee | Strategy & Technology Committee |
David C. Dauch | Chair | X | Chair | X | |||||||
Elizabeth A. Chappell | X | Chair | X | X | |||||||
Forest J. Farmer | Chair | X | |||||||||
Steven B. Hantler | X | ||||||||||
Richard C. Lappin | X | X | Chair | ||||||||
William. L. Kozyra | X | X | |||||||||
Peter D. Lyons | X | X | X | ||||||||
James A. McCaslin | X | X | Chair | X | X | ||||||
William P. Miller II | Chair | X | Chair | X | |||||||
John F. Smith | X | Chair | X | X | Chair | ||||||
Larry K. Switzer | X | X | |||||||||
Samuel Valenti III | X | X | X | X | X | X | |||||
Thomas K. Walker | X | Chair | X | ||||||||
No. of Meetings in 2013 | 4 | 5 | 2 | 3 | 4 | ||||||
No. of Meetings in 2016 | 5 | 4 | — | 4 |
A | B | C | D | |
Plan Category | Number of Securities to be issued upon Exercise of Outstanding Options, Warrants and Rights(1) (#) | Weighted Average Exercise Price of Outstanding Options, Warrants and Rights(2) ($) | Weighted Average Remaining Term of Outstanding Options, Warrants and Rights(3) (#) | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column A) (#) |
Equity Compensation Plans Approved by Shareholders | 3,298,628 | 9.27 | 1.37 | 1,934,297 |
Equity Compensation Plans not Approved by Shareholders | - | - | - | - |
(in millions) |
2016 Annual Incentive Performance Metrics | |
The graphic shown above highlights 2016 net operating cash flow and operating income margin performance, the two metrics by which NEO annual incentive awards were measured. Actual operating income margin excludes the impact of restructuring and acquisition-related costs. Net operating cash flow was adjusted to exclude cash payments for restructuring and acquisition-related costs. Based on these metrics, total NEO target annual incentive opportunity of $3.1 million resulted in total payouts of $6.2 million. | |
Long-Term Incentive Performance Metrics | |
The graphic shown above highlights cumulative EBITDA and relative TSR for the three year period ending December 31, 2016. These two metrics were used to measure performance under the 2014 long-term incentive performance share awards. Three year cumulative EBITDA excludes the impact of a settlement charge related to certain terminated vested participants under our defined benefit plans and restructuring and acquisition-related costs. Based on these metrics, the NEOs received a 0% payout on the relative TSR award and a 191% payout on the EBITDA award. |
• | Total direct compensation targeted at 50th percentile of pay among our peer group |
A. O. Smith Corporation | Flowserve Corporation | Tower International Inc. |
BorgWarner Inc. * | Kennametal Inc. | Trinity Industries, Inc. |
Briggs & Stratton | Lear Corporation * | USG Corporation |
Cooper-Standard Holdings, Inc. | Meritor Inc. * | Valmont Industries, Inc. |
Dana Holding Corporation * | Regal-Beloit Corporation | Visteon Corporation * |
Donaldson Company, Inc. | Tenneco Automotive Inc. * | Woodward Inc. |
Federal-Mogul Corporation | Terex Corporation | |
* Included in our competitor peer group as disclosed in our 2016 annual report to shareholders. | ||
Our competitor peer group also includes Autoliv Inc. and Magna International Inc. |
Company | 2014 Peer Group | 2013 Peer Group | Competitor Peer Group |
A. O. Smith Corporation | X | X | |
BorgWarner Inc. | X | X | X |
Briggs & Stratton | X | ||
Cooper-Standard Holdings, Inc. | X | ||
Dana Holding Corporation | X | X | X |
Donaldson Company, Inc. | X | X | |
Federal-Mogul Corporation | X | X | |
Flowserve Corporation | X | X | |
Kennametal Inc. | X | X | |
Lear Corporation | X | X | X |
Meritor Inc. | X | X | X |
Regal-Beloit Corporation | X | ||
Tenneco Automotive Inc. | X | X | |
Terex Corporation | X | X | |
Tower International Inc. | X | ||
Trinity Industries, Inc. | X | X | |
USG Corporation | X | X | |
Valmont Industries, Inc. | X | X | |
Visteon Corporation | X | X | X |
Woodward Inc. | X | ||
Ball Corporation | X | ||
Brady Corporation | X | ||
Cameron International Corporation | X | ||
Cummins Inc. | X | ||
Dover Corporation | X | ||
Eaton Corporation | X | ||
Federal Signal Corporation | X | ||
Fleetwood Enterprises, Inc. | X | ||
FMC Technologies | X | ||
Genuine Parts Company | X | ||
Harley-Davidson Motor Company | X | ||
Ingersoll-Rand Company | X | ||
Joy Global Inc. | X | ||
Navistar International | X | ||
Owens-Illinois, Inc. | X | ||
PACCAR Inc. | X | ||
Polaris Industries Inc. | X | ||
Rockwell Automation | X | ||
Sauer-Danfoss Inc. | X | ||
Sonoco Products Company | X | ||
Thomas & Betts Corporation | X | ||
The Timken Company | X | ||
TRW Automotive Holdings Corp. | X | ||
Woodward Governor Company | X | ||
Autoliv Inc. | X | ||
Magna International Inc. | X | ||
Total Number of Companies | 20 | 38 | 8 |
CEO | Other NEOs (Average) |
Component | Key Characteristics | Purpose |
Base Salary | * Part of competitive total compensation package * Determined based on market comparative positions and individual performance, experience, time in position, professional development, contributions to the Company and internal equity considerations | * Provides base level of cash compensation for attracting and retaining executive talent |
Annual Incentive Compensation | * Determined based on pre-established financial performance factors, including: - Operating income margin (50%) and - Net operating cash flow (50%) | * Provides an opportunity to earn a cash-based annual incentive award * Aligns with financial performance * Target awards vary based on position and other factors |
Long-Term Incentive Compensation | ||
Performance Shares (66%) | * Performance Shares tie a substantial portion of total compensation to the Company's future achievement of pre-established performance goals over a three-year performance period, including: - EBITDA (33%) - Relative TSR (33%) | * Aligns the interests of executive officers with those of shareholders by providing a mix of equity compensation tied to financial and share performance * Combined with the Company's vesting and stock ownership requirements, as well as a clawback feature, equity-based awards balance the goals of encouraging sustainable results over time and reward those results with appropriate levels of actual compensation * Total target awards vary based on position and other factors |
Restricted Stock Units (34%) | * Restricted Stock Units align awards with stock price performance and encourage executive retention with vesting after a three-year period | |
Retirement Benefits and Deferred Compensation | * Includes qualified and nonqualified defined benefit and defined contribution plans, as well as a nonqualified retirement plan and deferred compensation plan | * Provides income upon retirement including tax-deferred methods for general savings |
Perquisites | * Primarily consists of the use of a Company-provided vehicle with AAM content | * Provides a limited supplement to total direct compensation |
Base Salary | Base Salary | |||||||||||||||||
2013 | 2012 | 2016 | 2015 | % Change | ||||||||||||||
David C. Dauch (effective September 1, 2013) | $ | 1,100,000 | $ | 1,000,000 | ||||||||||||||
David C. Dauch | $ | 1,150,000 | $ | 1,150,000 | — | % | ||||||||||||
Christopher J. May (effective March 1, 2016) | $ | 400,000 | $ | 350,000 | 14 | % | ||||||||||||
Michael K. Simonte | $ | 543,800 | $ | 527,900 | $ | 640,000 | $ | 640,000 | — | % | ||||||||
John J. Bellanti | $ | 500,300 | $ | 485,700 | ||||||||||||||
Alberto L. Satine | $ | 360,000 | $ | 320,000 | $ | 510,000 | $ | 510,000 | — | % | ||||||||
Norman Willemse | $ | 320,000 | $ | 310,600 | $ | 450,000 | $ | 450,000 | — | % |
Target Annual Incentive Opportunity | ||
2016 | 2015 | |
David C. Dauch | 125% | 125% |
Christopher J. May | 60% | 54% |
Michael K. Simonte | 100% | 88% |
Alberto L. Satine | 80% | 68% |
Norman Willemse | 80% | 68% |
Net Operating Cash Flow | Net Income as a Percentage of Sales | |||||||
Performance | Payout | Performance | Payout | |||||
Threshold | $25 million | 50% | 1% | 30% | ||||
Target | $75 million | 100% | 3% | 100% | ||||
Maximum | $100 million | 125% | >3% | >100% |
Weighting | Threshold (Payout 50%) | Target (Payout 100%) | Maximum (Payout 200%) | 2016 Actual Performance | |||||
Net Operating Cash Flow | 50% | $82.5 million | $110.0 million | $126.5 million | $198.6 million(1) | ||||
Operating Income Margin | 50% | 6.72% | 8.96% | 10.30% | 10.31%(2) |
2016 Target Long-Term Incentive Opportunity | ||||
($)(1) | %(2) | |||
David C. Dauch | 4,600,000 | 400% | ||
Christopher J. May | 400,000 | 100% | ||
Michael K. Simonte | 1,472,000 | 230% | ||
Alberto L. Satine | 765,000 | 150% | ||
Norman Willemse | 675,000 | 150% |
Target Long-Term Incentive Opportunity | ||
2013 | 2012 | |
David C. Dauch | 350% | 240% |
Michael K. Simonte | 200% | 120% |
John J. Bellanti | 200% | 120% |
Alberto L. Satine | 120% | 80% |
Norman Willemse | 100% | 80% |
EBITDA Margin Performance Measure | Relative TSR Performance Measure | |||||||
Performance Level | 3 Year Cumulative EBITDA Margin | Percent of Target Award Opportunity Earned | 3 Year Cumulative EBITDA Margin | Percent of Target Award Opportunity Earned | Company's TSR Percentile Rank | Percent of Target Award Opportunity Earned | ||
Threshold | 10% | 25% | 10% | 25% | 35th | 50% | ||
Target | 12% | 100% | 12% | 100% | 50th | 100% | ||
Maximum | 15% | 200% | 15% | 200% | 75th | 200% |
Actual Performance | %of Target Shares Earned | Award Weighting | Weighted Payout | ||||
EBITDA Margin | 14.7%(1) | 191% | 50% | 96% | |||
Relative TSR | 22nd percentile | —% | 50% | —% | |||
Final Payout as a % of Target | 96% |
Multiple of Base Salary | |
Chief Executive Officer | |
3 | |
Senior | 2 |
◦ | Minimum one-year vesting of awards; |
◦ | Non-employee director pay limits; |
◦ | Prohibition of share recycling on stock options; and |
◦ | Prohibition of the payout of dividend equivalents before awards are vested. |
2016 Annual Incentive Performance Metrics | |||
Twelve Months Ended | |||
December 31, | |||
2016 | |||
Adjusted Operating Income Margin: | (in millions) | ||
Operating income, as reported | $ | 380.7 | |
Restructuring and acquisition-related costs | 26.2 | ||
Adjusted operating income | $ | 406.9 | |
Net sales, as reported | $ | 3,948.0 | |
Adjusted operating income margin | 10.31 | % | |
Net Operating Cash Flow: | |||
Cash provided by operations, as reported | $ | 407.6 | |
Purchases of property, plant and equipment | (223.0 | ) | |
Proceeds from sale of property, plant and equipment | 1.7 | ||
Proceeds from government grants | 2.8 | ||
Cash paid for restructuring and acquisition-related costs | 9.5 | ||
Net operating cash flow | $ | 198.6 |
2014 Long-term Incentive Performance Metric | |||||||||||
Twelve Months Ended | |||||||||||
December 31, | |||||||||||
2016 | 2015 | 2014 | |||||||||
Earnings before interest expense, income taxes and depreciation and amortization (EBITDA) and Adjusted EBITDA: | (in millions) | ||||||||||
Net income | $ | 240.7 | $ | 235.6 | $ | 143.0 | |||||
Interest expense | 93.4 | 99.2 | 99.9 | ||||||||
Income tax expense | 58.3 | 37.1 | 33.7 | ||||||||
Depreciation and amortization | 201.8 | 198.4 | 199.9 | ||||||||
EBITDA | $ | 594.2 | $ | 570.3 | $ | 476.5 | |||||
Restructuring and acquisition-related costs | 26.2 | — | — | ||||||||
Debt refinancing and redemption costs | — | 0.8 | — | ||||||||
Non-recurring items(1) | (1.0 | ) | — | 35.5 | |||||||
Adjusted EBITDA | $ | 619.4 | $ | 571.1 | $ | 512.0 | |||||
Net sales, as reported | $ | 3,948.0 | $ | 3,903.1 | $ | 3,696.0 | |||||
Adjusted EBITDA margin | 15.7 | % | 14.6 | % | 13.9 | % | |||||
3-year cumulative EBITDA margin | 14.7 | % |
Name and Principal Position | Year | Salary ($) | Bonus ($) | Stock Awards(1) ($) | Options Awards ($) | Non-Equity Incentive Plan Compen- sation(2) ($) | Change in Pension Value And Nonqualified Deferred Compensation Earnings(3) ($) | All Other Compen- sation(4) ($) | Total ($) | ||||||||
David C. Dauch(5) Chairman, President & Chief Executive Officer | 2013 | 1,033,333 | — | 1,750,002 | — | 3,185,250 | 245,423 | 116,389 | 6,330,397 | ||||||||
2012 | 873,333 | 21,500 | 979,013 | — | 1,728,100 | 565,534 | 67,695 | 4,235,175 | |||||||||
2011 | 650,004 | 111,150 | — | — | 7,169,180 | 397,228 | 28,778 | 8,356,340 | |||||||||
Michael K. Simonte Executive Vice President & Chief Financial Officer | 2013 | 543,800 | — | 543,810 | 1,429,085 | 27,943 | 50,817 | 2,595,455 | |||||||||
2012 | 527,900 | 4,617 | 316,743 | — | 935,383 | 294,245 | 48,942 | 2,127,830 | |||||||||
2011 | 515,004 | 37,080 | — | — | 4,255,095 | 251,101 | 49,604 | 5,107,884 | |||||||||
John J. Bellanti(6) Executive Vice President, Worldwide Operations | 2013 | 500,300 | — | 485,713 | — | 1,678,896 | — | 45,240 | 2,710,149 | ||||||||
2012 | 485,700 | — | 291,424 | — | 802,400 | 188,187 | 42,429 | 1,810,140 | |||||||||
2011 | 473,796 | — | — | — | 2,166,972 | 446,401 | 33,823 | 3,120,992 | |||||||||
Alberto L. Satine(6) Group Vice President Global Sales & Business Development | 2013 | 360,000 | — | 216,006 | — | 565,800 | — | 41,399 | 1,183,205 | ||||||||
Norman Willemse Vice President, Metal Formed Product Business Unit | 2013 | 320,000 | — | 160,006 | — | 579,120 | 12,546 | 50,348 | 1,122,020 | ||||||||
2012 | 310,600 | — | 124,249 | — | 376,808 | 100,562 | 48,162 | 960,381 | |||||||||
2011 | 303,000 | — | — | — | 603,180 | 113,444 | 41,412 | 1,061,036 | |||||||||
Richard E. Dauch(5) Co-Founder & Former Executive Chairman (deceased August 2, 2013) | 2013 | 1,181,818 | — | — | — | 2,030,000 | — | 155,822 | 3,367,640 | ||||||||
2012 | 2,000,000 | 4,000,000 | 6,874,007 | 627,000 | — | 4,201,202 | 141,916 | 17,844,125 | |||||||||
2011 | 2,526,728 | 6,000,000 | — | — | — | 2,802,700 | 149,441 | 11,478,869 |
Name and Principal Position | Year | Salary ($) | Bonus ($) | Stock Awards(2) ($) | Options Awards ($) | Non-Equity Incentive Plan Compen- sation(3) ($) | Change in Pension Value And Nonqualified Deferred Compensation Earnings(4) ($) | All Other Compen- sation(5) ($) | Total ($) | ||||||||
David C. Dauch(1)Chairman & Chief Executive Officer | 2016 | 1,150,000 | — | 5,617,069 | — | 2,875,000 | 1,385,652 | 74,599 | 11,102,320 | ||||||||
2015 | 1,150,000 | — | 5,348,595 | — | 5,447,875 | 1,201,615 | 67,131 | 13,215,216 | |||||||||
2014 | 1,100,000 | — | 4,454,330 | — | 2,638,120 | 1,081,679 | 75,189 | 9,349,318 | |||||||||
Christopher J. May Vice President & Chief Financial Officer | 2016 | 391,667 | — | 488,450 | — | 480,000 | 231,058 | 47,641 | 1,638,816 | ||||||||
2015 | 292,505 | — | 148,344 | — | 297,646 | 107,445 | 44,199 | 890,139 | |||||||||
Michael K. Simonte President | 2016 | 640,000 | — | 1,797,486 | — | 1,280,000 | 397,940 | 50,836 | 4,166,262 | ||||||||
2015 | 603,192 | — | 1,431,050 | — | 1,773,967 | 347,876 | 52,561 | 4,208,646 | |||||||||
2014 | 560,100 | — | 1,296,049 | — | 961,046 | 375,597 | 52,666 | 3,245,458 | |||||||||
Alberto L. Satine President Driveline | 2016 | 510,000 | — | 934,146 | — | 814,500 | 280,651 | 58,130 | 2,597,427 | ||||||||
2015 | 482,875 | — | 689,895 | — | 899,225 | 224,587 | 52,473 | 2,349,055 | |||||||||
2014 | 450,000 | — | 624,777 | — | 498,640 | 237,798 | 41,032 | 1,852,247 | |||||||||
Norman Willemse President Metal Formed Products | 2016 | 450,000 | — | 824,283 | — | 720,000 | 236,980 | 33,925 | 2,265,188 | ||||||||
2015 | 426,667 | — | 508,544 | — | 743,575 | 169,498 | 32,065 | 1,880,349 | |||||||||
2014 | 375,767 | — | 445,473 | — | 445,467 | 135,322 | 48,459 | 1,450,488 |
(1) | Compensation of Mr. Dauch is based solely on employment as an executive officer. He received no compensation for serving as a director. |
(2) | Reflects the |
Reflects amounts earned under the AAM Incentive Compensation Plan for Executive Officers |
AAM Incentive Compensation Plan | AAM LTIP | Total | |||||||||
David C. Dauch | $ | 1,196,250 | $ | 1,989,000 | $ | 3,185,250 | |||||
Michael K. Simonte | $ | 378,485 | $ | 1,050,600 | $ | 1,429,085 | |||||
John J. Bellanti(a) | $ | 285,000 | $ | 1,393,896 | $ | 1,678,896 | |||||
Alberto L. Satine | $ | 185,000 | $ | 380,800 | $ | 565,800 | |||||
Norman Willemse | $ | 167,040 | $ | 412,080 | $ | 579,120 | |||||
Richard E. Dauch | $ | 2,030,000 | $ | — | $ | 2,030,000 |
Reflects the annualized increase in pension value under the Salaried Retirement Program, the Albion Pension Plan and the Supplemental Executive Retirement Program (SERP). |
Name | Employer 401(k) Match Contributions(a) ($) | Retirement Contributions(b) ($) | Executive Life Insurance Premiums(c) ($) | Company-Provided Vehicles(d) ($) | Tax Gross Ups for Spousal Travel(e) ($) | Other(f) ($) | Total ($) | Employer 401(k) Match Contributions(a) ($) | Retirement Contributions(b) ($) | Executive Life Insurance Premiums(c) ($) | Company-Provided Vehicles(d) ($) | Tax Gross Ups for Spousal Travel(e) ($) | Other(f) ($) | Total ($) | ||||||||||||||
David C. Dauch | 12,569 | 12,750 | 7,640 | 31,632 | 22,704 | 29,094 | 116,389 | 12,698 | 13,250 | 12,179 | 28,790 | 1,474 | 6,208 | 74,599 | ||||||||||||||
Christopher J. May | 12,975 | 13,250 | 1,924 | 18,892 | — | 600 | 47,641 | |||||||||||||||||||||
Michael K. Simonte | 12,575 | 12,750 | 3,681 | 20,301 | — | 1,510 | 50,817 | 13,250 | 13,250 | 6,309 | 17,427 | — | 600 | 50,836 | ||||||||||||||
John J. Bellanti | 8,750 | 12,750 | 7,155 | 14,188 | 424 | 1,973 | 45,240 | |||||||||||||||||||||
Albert L. Satine | — | 12,750 | 3,171 | 23,618 | — | 1,860 | 41,399 | |||||||||||||||||||||
Alberto L. Satine | 12,975 | 13,250 | 8,088 | 23,217 | — | 600 | 58,130 | |||||||||||||||||||||
Norman Willemse | 12,469 | 12,750 | 3,219 | — | 424 | 21,486 | 50,348 | 12,865 | 13,250 | 6,536 | — | 674 | 600 | 33,925 | ||||||||||||||
Richard E. Dauch | 6,906 | 6,906 | 110,046 | 31,364 | — | 600 | 155,822 |
(d) | Includes personal use of Company-provided vehicles. The aggregate incremental cost of Company-provided vehicles is based on total vehicle cost if business use of the vehicle is less than |
(e) | Includes amounts reimbursed for taxes attributable to the income associated with the cost of |
(f) | For Mr. |
Name | Grant Date | Approval Date | Estimated Future Payouts under Non Equity Incentive Plan Awards(1) | All Other Stock Awards: Number of Shares of Stock or Units(2) (#) | All Other Option Awards: Number of Securities Underlying Options (#) | Exercise or Base Price of Option Awards ($/Sh) | Grant Date Fair Value of Stock and Option Awards(3) ($) | Grant Date | Approval Date | Estimated Future Payouts under Non Equity Incentive Plan Awards(1) | Estimated Future Payouts under Equity Incentive Plan Awards(2) | All Other Stock Awards: Number of Shares of Stock or Units(3) (#) | Grant Date Fair Value of Stock and Option Awards(4) ($) | |||||||||||||||||||||
Threshold ($) | Target ($) | Maximum ($) | Threshold ($) | Target ($) | Maximum ($) | Threshold (#) | Target (#) | Maximum (#) | ||||||||||||||||||||||||||
David C. Dauch | ||||||||||||||||||||||||||||||||||
Annual Incentive | 1/1/2013 | 10/24/2012 | 550,000 | 1,375,000 | — | — | — | — | — | 1/1/2016 | 12/8/2015 | 718,750 | 1,437,500 | 2,875,000 | — | — | — | — | — | |||||||||||||||
Long-Term Incentive | 3/6/2013 | 2/6/2013 | — | — | — | 137,687 | — | — | 1,750,002 | |||||||||||||||||||||||||
Long-Term Incentive | 3/6/2013 | 2/6/2013 | 437,500 | 1,750,000 | 3,500,000 | — | — | — | — | |||||||||||||||||||||||||
Performance Shares (TSR) | 3/4/2016 | 2/3/2016 | — | — | — | 49,190 | 98,380 | 196,760 | — | 1,294,857 | ||||||||||||||||||||||||
Performance Shares (EBITDA) | 3/4/2016 | 2/3/2016 | — | — | — | 24,595 | 98,380 | 196,760 | — | 2,758,212 | ||||||||||||||||||||||||
Restricted Stock Units | 3/4/2016 | 2/3/2016 | — | — | — | — | — | — | 101,361 | 1,564,000 | ||||||||||||||||||||||||
Christopher J. May | ||||||||||||||||||||||||||||||||||
Annual Incentive | 1/1/2016 | 12/8/2015 | 120,000 | 240,000 | 480,000 | — | — | — | — | — | ||||||||||||||||||||||||
Performance Shares (TSR) | 3/4/2016 | 2/3/2016 | 4,278 | 8,555 | 17,110 | 112,599 | ||||||||||||||||||||||||||||
Performance Shares (EBITDA) | 3/4/2016 | 2/3/2016 | 2,139 | 8,555 | 17,110 | 239,851 | ||||||||||||||||||||||||||||
Restricted Stock Units | 3/4/2016 | 2/3/2016 | — | — | — | — | — | — | 8,814 | 136,000 | ||||||||||||||||||||||||
Michael K. Simonte | ||||||||||||||||||||||||||||||||||
Annual Incentive | 1/1/2013 | 10/24/2012 | 174,016 | 435,040 | — | — | — | — | — | 1/1/2016 | 12/8/2015 | 320,000 | 640,000 | 1,280,000 | — | — | — | — | — | |||||||||||||||
Long-Term Incentive | 3/6/2013 | 2/6/2013 | — | — | — | 42,786 | — | — | 543,810 | |||||||||||||||||||||||||
Long-Term Incentive | 3/6/2013 | 2/6/2013 | 135,950 | 543,800 | 1,087,600 | — | — | — | — | |||||||||||||||||||||||||
John J. Bellanti | ||||||||||||||||||||||||||||||||||
Annual Incentive | 1/1/2013 | 10/24/2012 | 155,424 | 388,560 | — | — | — | — | — | |||||||||||||||||||||||||
Long-Term Incentive | 3/6/2013 | 2/6/2013 | — | — | — | 38,215 | — | — | 485,713 | |||||||||||||||||||||||||
Long-Term Incentive | 3/6/2013 | 2/6/2013 | 121,425 | 485,700 | 971,400 | — | — | — | — | |||||||||||||||||||||||||
Performance Shares (TSR) | 3/4/2016 | 2/3/2016 | — | — | — | 15,741 | 31,482 | 62,964 | — | 414,359 | ||||||||||||||||||||||||
Performance Shares (EBITDA) | 3/4/2016 | 2/3/2016 | — | — | — | 7,871 | 31,482 | 62,964 | — | 882,639 | ||||||||||||||||||||||||
Restricted Stock Units | 3/4/2016 | 2/3/2016 | — | — | — | — | — | — | 32,436 | 500,488 | ||||||||||||||||||||||||
Alberto L. Satine | ||||||||||||||||||||||||||||||||||
Annual Incentive | 1/1/2013 | 10/24/2012 | 86,400 | 216,000 | — | — | — | — | — | 1/1/2016 | 12/8/2015 | 204,000 | 408,000 | 816,000 | — | — | — | — | — | |||||||||||||||
Long-Term Incentive | 3/6/2013 | 2/6/2013 | — | — | — | 16,995 | — | — | 216,006 | |||||||||||||||||||||||||
Long-Term Incentive | 3/6/2013 | 2/6/2013 | 54,000 | 216,000 | 432,000 | — | — | — | — | |||||||||||||||||||||||||
Performance Shares (TSR) | 3/4/2016 | 2/3/2016 | — | — | — | 8,181 | 16,361 | 32,722 | — | 215,340 | ||||||||||||||||||||||||
Performance Shares (EBITDA) | 3/4/2016 | 2/3/2016 | — | — | — | 4,090 | 16,361 | 32,722 | — | 458,702 | ||||||||||||||||||||||||
Restricted Stock Units | 3/4/2016 | 2/3/2016 | — | — | — | — | — | — | 16,857 | 260,104 | ||||||||||||||||||||||||
Norman Willemse | ||||||||||||||||||||||||||||||||||
Annual Incentive | 1/1/2013 | 10/24/2012 | 76,800 | 192,000 | — | — | — | — | — | 1/1/2016 | 12/8/2015 | 180,000 | 360,000 | 720,000 | — | — | — | — | — | |||||||||||||||
Long-Term Incentive | 3/6/2013 | 2/6/2013 | — | — | — | 12,589 | — | — | 160,006 | |||||||||||||||||||||||||
Long-Term Incentive | 3/6/2013 | 2/6/2013 | 40,000 | 160,000 | 320,000 | — | — | — | — | |||||||||||||||||||||||||
Richard E. Dauch | ||||||||||||||||||||||||||||||||||
Annual Incentive | 1/1/2013 | 10/24/2012 | 1,600,000 | 4,000,000 | — | — | — | — | — | |||||||||||||||||||||||||
Performance Shares (TSR) | 3/4/2016 | 2/3/2016 | — | — | — | 7,219 | 14,437 | 28,874 | — | 190,017 | ||||||||||||||||||||||||
Performance Shares (EBITDA) | 3/4/2016 | 2/3/2016 | — | — | — | 3,609 | 14,437 | 28,874 | — | 404,760 | ||||||||||||||||||||||||
Restricted Stock Units | 3/4/2016 | 2/3/2016 | — | — | — | — | — | — | 14,874 | 229,506 |
(1) | Reflects annual incentive awards granted under the AAM Incentive Compensation Plan for Executive Officers. |
(2) | Reflects performance |
Reflects 2016. |
Reflects the full grant date fair value of performance share awards and RSUs made during fiscal year |
President Employment Agreement | ||
Base Salary | $1,150,000 effective January 1, | $640,000 effective August 1, 2015, subject to |
Annual Incentive | Participation in the executive officers. Target opportunity subject to the annual review and increase by the Compensation Committee. | Participation in the annual incentive plan for executive officers. Target opportunity of 100% of base salary, subject to annual review and increase by the Compensation Committee. |
Long-Term Incentive | Participation in the long-term incentive plans officers. Target opportunity | Participation in the long-term incentive plans for executive officers. Target opportunity of 230% for 2016, subject to annual review and increase by the Compensation Committee. |
Other Benefits | Participation in plans applicable to executive officers. Retiree medical, dental and vision coverage equivalent to the benefit levels offered in the 2012. | Participation in plans applicable to executive officers. |
Term | Initial term expired August 31, 2015. Additional one-year extensions unless either party provides 60 days' written notice of intent not to renew. | Initial term is August 1, 2015 through July 31, 2018. Additional one-year extensions unless either party provides 60 days' written notice of intent not to renew. |
Performance Level | 3 Year Cumulative EBITDA Margin | Percent of Target Award Opportunity Earned | |
Threshold | 10% | 25% | |
Target | 12% | 100% | |
Maximum | 15% | 200% |
EBITDA Performance Measure | TSR Performance Measure | EBITDA Margin Performance Measure | Relative TSR Performance Measure | |||||||||||
Performance Level | 3-Year Cumulative EBITDA Margin | Percent of Target Award Opportunity Earned | Company’s TSR Percentile Rank | Percent of Target Award Opportunity Earned | 3-Year Cumulative EBITDA Margin | Percent of Target Award Opportunity Earned | Company TSR Percentile Rank | Percent of Target Award Opportunity Earned | ||||||
Threshold | 8% | 25% | 35th | 50% | 10% | 25% | 35th | 50% | ||||||
Target | 12% | 100% | 50th | 100% | 12% | 100% | 50th | 100% | ||||||
Maximum | 15% | 200% | 75th | 200% | 15% | 200% | 75th | 200% |
Actual Performance | %of Target Shares Earned | Award Weighting | Weighted Payout | ||||
EBITDA Margin | 14.7%(1) | 191% | 50% | 96% | |||
Relative TSR | 22nd percentile | —% | 50% | —% | |||
Final Payout as a % of Target | 96% |
Option Awards | Stock Awards | |||||||||||||||||||
Name | Number of Securities Underlying Unexercised Options Exercisable(1) (#) | Option Exercise Price ($) | Option Expiration 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) ($) | Number of Securities Underlying Unexercised Options Exercisable(1) (#) | Option Exercise Price ($) | Option Expiration 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) ($) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | Equity Incentive Plan Awards: Market of Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(8) | ||||||||
David C. Dauch | 28,000 | 38.70 | 2/2/2014 | 79,326(3) | 1,622,217 | 13,000 | 26.02 | 3/14/2017 | 66,447(3) | 1,282,427 | ||||||||||
12,000 | 26.65 | 3/15/2015 | 22,382(4) | 457,712 | 58,070(4) | 1,120,751 | ||||||||||||||
15,000 | 15.58 | 3/15/2016 | 137,687(5) | 2,815,699 | 101,361(5) | 1,956,267 | ||||||||||||||
13,000 | 26.02 | 3/14/2017 | 28,181(6) | 543,893 | ||||||||||||||||
112,724(6) | 2,175,573 | |||||||||||||||||||
49,190(7) | 949,367 | |||||||||||||||||||
196,760(7) | 3,797,468 | |||||||||||||||||||
Christopher J. May | — | — | — | 7,310(3) | 141,083 | |||||||||||||||
5,875(4) | 113,388 | |||||||||||||||||||
8,814(5) | 170,110 | |||||||||||||||||||
4,278(7) | 82,565 | |||||||||||||||||||
17,110(7) | 330,223 | |||||||||||||||||||
Michael K. Simonte | 8,500 | 38.70 | 2/2/2014 | 34,466(3) | 704,830 | 10,000 | 26.02 | 3/14/2017 | 19,334(3) | 373,146 | ||||||||||
9,000 | 26.65 | 3/15/2015 | 42,786(5) | 874,974 | 15,537(4) | 299,864 | ||||||||||||||
10,000 | 15.58 | 3/15/2016 | 32,436(5) | 626,015 | ||||||||||||||||
10,000 | 26.02 | 3/14/2017 | ||||||||||||||||||
John J. Bellanti | 16,000 | 38.70 | 2/2/2014 | 21,247(3) | 434,501 | |||||||||||||||
9,000 | 26.65 | 3/15/2015 | 38,215(5) | 781,497 | 7,540(6) | 145,522 | ||||||||||||||
6,700 | 15.58 | 3/15/2016 | 30,160(6) | 582,088 | ||||||||||||||||
10,000 | 26.02 | 3/14/2017 | 15,741(7) | 303,801 | ||||||||||||||||
11,000 | 10.08 | 6/25/2018 | 62,964(7) | 1,215,205 | ||||||||||||||||
Alberto L. Satine | 9,000 | 38.70 | 2/2/2014 | 13,929(3) | 284,848 | 8,000 | 26.02 | 3/14/2017 | 9,320(3) | 179,876 | ||||||||||
8,000 | 26.65 | 3/15/2015 | 16,995(5) | 347,548 | 7,490(4) | 144,557 | ||||||||||||||
8,000 | 26.02 | 3/14/2017 | 16,857(5) | 325,340 | ||||||||||||||||
Norman Willemse | 7,500 | 38.70 | 2/2/2014 | 13,520(3) | 276,484 | |||||||||||||||
9,700 | 10.08 | 6/25/2018 | 12,589(5) | 257,445 | ||||||||||||||||
Richard E. Dauch(6) | 300,000 | 38.70 | 2/2/2014 | |||||||||||||||||
150,000 | 26.65 | 3/15/2015 | 3,635(6) | 70,156 | ||||||||||||||||
150,000 | 15.58 | 3/15/2016 | 14,540(6) | 280,622 | ||||||||||||||||
150,000 | 26.02 | 3/14/2017 | 8,181(7) | 157,893 | ||||||||||||||||
100,500 | 9.19 | 8/2/2017 | 32,722(7) | 631,535 | ||||||||||||||||
Norman Willemse | 9,700 | 10.08 | 6/25/2018 | 6,645(3) | 128,249 | |||||||||||||||
5,521(4) | 106,555 | |||||||||||||||||||
14,874(5) | 287,068 | |||||||||||||||||||
2,680(6) | 51,724 | |||||||||||||||||||
10,718(6) | 206,857 | |||||||||||||||||||
7,219(7) | 139,327 | |||||||||||||||||||
28,874(7) | 557,268 |
(1) | All outstanding options are vested as of December 31, |
(2) | Reflects value of outstanding RSUs |
(3) | Reflects RSUs granted on |
(4) | Reflects RSUs granted on |
(5) | Reflects RSUs granted on March |
(6) |
(7) | Reflects performance shares granted on March 4, 2016 for the |
(8) | Reflects the value of 2015 and 2016 performance shares based on performance through December 31, 2016 as described above in footnotes (6) and (7) multiplied by $19,30, the closing price of AAM common stock on December 30, 2016. |
Option Awards | Stock Awards | Option Awards | Stock Awards | |||||||||||||
Name | Number of Shares Acquired on Exercise(1) (#) | Value Realized on Exercise(1) ($) | Number of Shares Acquired on Vesting(2) (#) | Value Realized on Vesting(3) ($) | Number of Shares Acquired on Exercise (1) (#) | Value Realized on Exercise (1) ($) | Number of Shares Acquired on Vesting(2) (#) | Value Realized on Vesting(3) ($) | ||||||||
David C. Dauch | — | — | — | — | — | — | 260,869 | 4,501,923 | ||||||||
Christopher J. May | — | — | 9,678 | 149,332 | ||||||||||||
Michael K. Simonte | 12,500 | 119,115 | — | — | — | — | 78,628 | 1,351,939 | ||||||||
John J. Bellanti | — | — | 10,464 | 190,445 | ||||||||||||
Alberto L. Satine | 16,700 | 120,046 | — | — | — | — | 34,273 | 595,698 | ||||||||
Norman Willemse | — | — | — | — | — | — | 24,909 | 432,024 | ||||||||
Richard E. Dauch | 49,500 | 445,995 | 627,493 | 13,078,015 |
(1) |
(2) | Reflects the |
(3) | Reflects the number of shares underlying vested RSUs multiplied by the closing market price of AAM common stock on the vesting date. |
Name | Plan Name | Number of Years of Credited Service (#) | Present Value of Accumulated Benefit ($) | Payments During Last Fiscal Year ($) | Plan Name | Number of Years of Credited Service(1) (#) | Present Value of Accumulated Benefit(2) ($) | |||
David C. Dauch | AAM Retirement Program for Salaried Employees | 11.5000(1) | 250,031 | — | AAM Retirement Program for Salaried Employees | 11.5000 | 364,791 | |||
AAM Supplemental Executive Retirement Program | 18.5000 | 1,617,968 | — | AAM Supplemental Executive Retirement Program | 21.5000 | 5,172,154 | ||||
Christopher J. May | AAM Retirement Program for Salaried Employees | 12.5000 | 158,884 | |||||||
AAM Supplemental Executive Retirement Program | 22.5000 | 620,619 | ||||||||
Michael K. Simonte | AAM Retirement Program for Salaried Employees | 8.0833(1) | 167,221 | — | AAM Retirement Program for Salaried Employees | 8.0833 | 243,377 | |||
AAM Supplemental Executive Retirement Program | 15.0833 | 823,708 | — | AAM Supplemental Executive Retirement Program | 18.0833 | 1,868,966 | ||||
John J. Bellanti(2) | AAM Retirement Program for Salaried Employees | 17.8333(1) | 804,187 | — | ||||||
AAM Supplemental Executive Retirement Program | 19.8333 | 835,056 | — | |||||||
Alberto Satine(3) | AAM Retirement Program for Salaried Employees | 10.5833(1) | 399,540 | — | ||||||
AAM Supplemental Executive Retirement Program | 12.5833 | 281,112 | — | |||||||
Alberto L. Satine(3) | AAM Retirement Program for Salaried Employees | 10.5833 | 652,737 | |||||||
AAM Supplemental Executive Retirement Program | 15.5833 | 770,951 | ||||||||
Norman Willemse(4) | Albion Pension Plan | 6.3333 | 276,017 | — | Albion Pension Plan | 6.3333 | 313,773 | |||
AAM Supplemental Executive Retirement Program | 11.9167 | 279,998 | — | AAM Supplemental Executive Retirement Program | 15.5000 | 815,834 | ||||
Richard E. Dauch(5) | AAM Retirement Program for Salaried Employees | 17.8333(1) | 544,571 | 16,163 | ||||||
AAM Supplemental Executive Retirement Program | 23.5833 | 17,434,222 | 503,028 |
(1) | The years of credited service are through December 31, 2016. Benefits under the SRP were frozen effective December 31, 2006 for Mr. |
(2) |
(3) | Mr. Satine was eligible to retire on December 31, |
(4) | Mr. Willemse is not a participant in the SRP. Mr. Willemse was eligible to retire on December 31, |
Name | Executive Contributions in Last FY(1) ($) | Registrant contributions in Last FY(2) ($) | Aggregate Earnings In Last FY(3) ($) | Aggregate Withdrawals Distributions(4) ($) | Aggregate Balance at Last FYE(5) ($) | Executive Contributions in Last FY ($) | Registrant contributions in Last FY ($) | Aggregate Earnings In Last FY(1) ($) | Aggregate Withdrawals Distributions ($) | Aggregate Balance at Last FYE(2) ($) | ||||||||||
David C. Dauch | — | — | 50,956 | — | 352,194 | — | — | 15,219 | — | 400,741 | ||||||||||
Christopher J. May | — | — | — | — | — | |||||||||||||||
Michael K. Simonte | — | — | — | — | — | — | — | — | — | — | ||||||||||
John J. Bellanti | — | — | 93,646 | — | 661,521 | |||||||||||||||
Alberto L. Satine | — | — | — | — | — | — | — | — | — | — | ||||||||||
Norman Willemse | 35,100 | 768 | 11,069 | — | 75,904 | — | — | 14,847 | — | 141,550 | ||||||||||
Richard E. Dauch | — | — | 55,056 | (5,557,373 | ) | — |
(1) |
Reflects hypothetical accrued earnings or losses during |
Of the aggregate balance, the amounts reflect compensation previously reported in the |
Name of Fund | Rate of Return | Name of Fund | Rate of Return | Rate of Return | Name of Fund | Rate of Return | ||||
Fidelity Retirement Money Market Portfolio | 0.01 | % | Vanguard External Market Index | 38.37 | % | 0.05 | % | Vanguard External Market Index Fund | 16.13 | % |
PIMCO Total Return Fund | (1.92 | )% | Fidelity Freedom Income K Fund | 4.60 | % | 2.60 | % | Harding Loevner Institutional Emerging Market Fund | 13.27 | % |
PIMCO High Yield Fund | 5.77 | % | Fidelity Freedom K 2000 Fund | 4.56 | % | 12.70 | % | Fidelity Freedom Income K Fund | 5.18 | % |
Domini Social Equity Fund | 33.30 | % | Fidelity Freedom K 2005 Fund | 8.15 | % | |||||
Spartan 500 Index Fund | 32.35 | % | Fidelity Freedom K 2010 Fund | 11.20 | % | |||||
Dreyfus International Bond Fund | 1.91 | % | Fidelity Freedom K 2005 Fund | 5.94 | % | |||||
Vanguard Total Bond Market Fund | 2.60 | % | Fidelity Freedom K 2010 Fund | 6.57 | % | |||||
Domini Impact Equity Fund | 11.55 | % | Fidelity Freedom K 2015 Fund | 7.10 | % | |||||
Fidelity 500 Index Fund | 11.93 | % | Fidelity Freedom K 2020 Fund | 7.40 | % | |||||
Touchstone Value Y Fund | 31.29 | % | Fidelity Freedom K 2015 Fund | 11.96 | % | 13.52 | % | Fidelity Freedom K 2025 Fund | 7.59 | % |
T. Rowe Price Growth Stock Fund | 39.20 | % | Fidelity Freedom K 2020 Fund | 13.35 | % | 1.41 | % | Fidelity Freedom K 2030 Fund | 8.25 | % |
Fidelity Growth Company Fund | 37.61 | % | Fidelity Freedom K 2025 Fund | 16.65 | % | 6.01 | % | Fidelity Freedom K 2035 Fund | 8.72 | % |
Fidelity Low-Priced Stock Fund | 34.45 | % | Fidelity Freedom K 2030 Fund | 18.21 | % | 8.88 | % | Fidelity Freedom K 2040 Fund | 8.72 | % |
Nuveen Mid Cap Growth Opportunities | 36.86 | % | Fidelity Freedom K 2035 Fund | 20.86 | % | 1.56 | % | Fidelity Freedom K 2045 Fund | 8.79 | % |
American Beacon Small Cap Value Fund | 40.06 | % | Fidelity Freedom K 2040 Fund | 21.25 | % | 26.77 | % | Fidelity Freedom K 2050 Fund | 8.71 | % |
Royce PA Mutual Fund | 35.25 | % | Fidelity Freedom K 2045 Fund | 21.84 | % | |||||
PNC Small Cap Fund | 10.04 | % | Fidelity Freedom K 2055 Fund | 8.77 | % | |||||
Fidelity Diversified International Fund | 25.19 | % | Fidelity Freedom K 2050 Fund | 22.08 | % | (3.60 | )% | Fidelity Freedom K 2060 Fund | 8.74 | % |
Spartan International Index Fund | 21.80 | % | Fidelity Freedom K 2055 Fund | 22.78 | % | |||||
Fidelity International Index Fund | 1.30 | % |
David C. Dauch | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement(1) ($) | Retirement ($) | Change in Control ($) | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement(1) ($) | Retirement ($) | Termination Upon a Change in Control(2) ($) | ||||||||||
Compensation: | ||||||||||||||||||||
Severance | 2,200,000 | 2,200,000 | — | — | 2,200,000 | 2,300,000(3) | 2,300,000(3) | — | — | 3,450,000(4) | ||||||||||
Annual Incentive | 1,196,250 | 1,196,250 | 1,196,250 | — | 2,750,000 | 2,875,000(3) | 2,875,000(3) | 2,875,000(5) | — | 7,187,500(4) | ||||||||||
Long Term Incentives: | ||||||||||||||||||||
RSUs | — | — | 4,895,628 | — | 4,895,628 | — | — | 4,359,445 | — | 4,359,445 | ||||||||||
2011 Performance Awards(5) | — | 1,989,000 | 1,989,000 | — | — | |||||||||||||||
2012 Performance Unit Awards(6) | — | 588,909 | 588,909 | — | 588,909 | |||||||||||||||
2013 Performance Unit Awards(6) | — | 583,333 | 583,333 | — | 583,333 | |||||||||||||||
2010 Special Incentive Program(7) | 875,000 | 875,000 | 875,000 | — | — | |||||||||||||||
2014 Performance Share Awards(7) | — | 2,377,413 | 2,377,413 | — | 2,377,413 | |||||||||||||||
2015 Performance Share Awards(8) | — | 1,450,382 | 1,450,382 | — | 2,175,573 | |||||||||||||||
2016 Performance Share Awards(9) | — | 1,265,823 | 1,265,823 | — | 3,797,468 | |||||||||||||||
Other Benefits: | ||||||||||||||||||||
Retirement Plans | — | — | — | — | — | — | — | — | — | — | ||||||||||
SERP | — | — | — | — | — | — | — | — | — | — | ||||||||||
Welfare Benefit | — | — | — | — | — | — | — | — | — | — | ||||||||||
Deferred Compensation(8) | 352,194 | 352,194 | 352,194 | — | 352,194 | |||||||||||||||
Health care(9) | 29,819 | 29,819 | 316,971 | — | 29,819 | |||||||||||||||
Disability(10) | — | — | 7,787,266 | — | — | |||||||||||||||
Life Insurance(11) | — | — | 143,981 | — | — | |||||||||||||||
Outplacement Services(12) | 50,000 | 50,000 | — | — | 50,000 | |||||||||||||||
Deferred Compensation(10) | 400,741 | 400,741 | 400,741 | — | 400,741 | |||||||||||||||
Health care(11) | 37,861 | 37,861 | 48,904 | — | 57,985 | |||||||||||||||
Disability(12) | — | — | 7,305,528 | — | — | |||||||||||||||
Life Insurance(13) | — | — | 12,508 | — | — | |||||||||||||||
Outplacement Services(14) | 50,000 | 50,000 | — | — | 50,000 | |||||||||||||||
Total | 4,703,263 | 7,864,505 | 18,728,532 | — | 11,449,883 | 5,663,602 | 10,757,220 | 20,095,744 | — | 23,856,125 |
Christopher J. May | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement(1) ($) | Retirement ($) | Termination Upon a Change in Control(2) ($) | |||||
Compensation: | ||||||||||
Severance | — | — | — | — | 800,000(15) | |||||
Annual Incentive | — | — | 480,000(5) | — | 960,000(15) | |||||
Long Term Incentives: | ||||||||||
RSUs(6) | — | — | 424,581 | — | 424,581 | |||||
2014 Performance Share Awards | — | — | — | — | — | |||||
2015 Performance Share Awards | — | — | — | — | — | |||||
2016 Performance Share Awards(9) | — | 110,074 | 110,074 | — | 330,223 | |||||
Other Benefits: | ||||||||||
Retirement Plans | — | — | — | — | — | |||||
SERP | — | — | — | — | — | |||||
Welfare Benefit | — | — | — | — | — | |||||
Deferred Compensation | — | — | — | — | — | |||||
Health care(16) | — | — | 42,971 | — | 33,268 | |||||
Disability(12) | — | — | 3,549,951 | — | — | |||||
Life Insurance(13) | — | — | 1,691 | — | — | |||||
Outplacement Services(17) | — | — | — | — | 30,000 | |||||
Total | — | 110,074 | 4,609,268 | — | 2,578,072 |
Michael K. Simonte | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement(1) ($) | Retirement ($) | Change in Control ($) | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement(1) ($) | Retirement ($) | Termination Upon a Change in Control(2) ($) | ||||||||||
Compensation: | ||||||||||||||||||||
Severance | — | — | — | — | — | 1,280,000(3) | 1,280,000(3) | — | — | 1,280,000(4) | ||||||||||
Annual Incentive(13) | — | — | 378,485 | — | — | |||||||||||||||
Annual Incentive | 1,280,000(3) | 1,280,000(3) | 1,280,000(5) | — | 2,560,000(4) | |||||||||||||||
Long Term Incentives: | ||||||||||||||||||||
RSUs | — | — | 1,579,804 | — | 1,579,804 | — | — | 1,299,025 | — | 1,299,025 | ||||||||||
2011 Performance Awards(5) | — | 1,050,600 | 1,050,600 | — | — | |||||||||||||||
2012 Performance Unit Awards(6) | — | 201,562 | 201,562 | — | 201,562 | |||||||||||||||
2013 Performance Unit Awards(6) | — | 181,267 | 181,267 | — | 181,267 | |||||||||||||||
2010 Special Incentive Program(7) | 500,000 | 500,000 | 500,000 | — | — | |||||||||||||||
2014 Performance Share Awards(7) | — | 691,731 | 691,731 | — | 691,731 | |||||||||||||||
2015 Performance Share Awards(8) | — | 388,059 | 388,059 | — | 582,088 | |||||||||||||||
2016 Performance Share Awards(9) | — | 405,068 | 405,068 | — | 1,215,205 | |||||||||||||||
Other Benefits: | ||||||||||||||||||||
Retirement Plans | — | — | — | — | — | — | — | — | — | — | ||||||||||
SERP | — | — | — | — | — | — | — | — | — | — | ||||||||||
Welfare Benefit | — | — | — | — | — | — | — | — | — | — | ||||||||||
Deferred Compensation | — | — | — | — | — | — | — | — | — | — | ||||||||||
Health care(14) | — | — | 312,521 | — | — | |||||||||||||||
Disability(10) | — | — | 4,158,162 | — | — | |||||||||||||||
Life Insurance(11) | — | — | 71,264 | — | — | |||||||||||||||
Outplacement Services | — | — | — | — | — | |||||||||||||||
Health care(11) | 37,860 | 37,860 | 48,903 | — | 37,860 | |||||||||||||||
Disability(12) | — | — | 4,359,138 | — | — | |||||||||||||||
Life Insurance(13) | — | — | 7,311 | — | — | |||||||||||||||
Outplacement Services(14) | 30,000 | 30,000 | — | — | 30,000 | |||||||||||||||
Total | 500,000 | 1,933,429 | 8,433,665 | — | 1,962,633 | 2,627,860 | 4,112,718 | 8,479,235 | — | 7,695,909 |
Alberto L. Satine | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement ($) | Retirement ($) | Termination Upon a Change in Control(2) ($) | |||||
Compensation: | ||||||||||
Severance | — | — | — | — | 1,020,000(15) | |||||
Annual Incentive | — | — | 814,500(5) | 814,500(5) | 1,630,500(15) | |||||
Long Term Incentives: | ||||||||||
RSUs(6) | — | — | 649,773 | 348,596 | 649,773 | |||||
2014 Performance Share Awards(7) | — | 333,465 | 333,465 | 333,465 | 333,465 | |||||
2015 Performance Share Awards(8) | — | 187,081 | 187,081 | 187,081 | 280,622 | |||||
2016 Performance Share Awards(9) | — | 210,512 | 210,512 | 210,512 | 631,535 | |||||
Other Benefits: | ||||||||||
Retirement Plans(18) | 652,737 | 652,737 | 733,468 | 635,976 | 652,737 | |||||
SERP(19) | 770,951 | 770,951 | 695,258 | 770,951 | 770,951 | |||||
Welfare Benefit(20) | — | — | 219,419 | 219,419 | — | |||||
Deferred Compensation | — | — | — | — | — | |||||
Health care(16) | — | — | — | — | 52,993 | |||||
Disability | — | — | — | — | — | |||||
Life Insurance | — | — | — | — | — | |||||
Outplacement Services(17) | — | — | — | — | 30,000 | |||||
Total | 1,423,688 | 2,154,746 | 3,843,476 | 3,520,500 | 6,052,576 |
Norman Willemse | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement ($) | Retirement ($) | Termination Upon a Change in Control(2) ($) | |||||
Compensation: | ||||||||||
Severance | — | — | — | — | 900,000(15) | |||||
Annual Incentive | — | — | 720,000(5) | 720,000(5) | 1,440,000(15) | |||||
Long Term Incentives: | ||||||||||
RSUs(6) | — | — | 521,872 | 265,993 | 521,872 | |||||
2014 Performance Share Awards(7) | — | 237,776 | 237,776 | 237,776 | 237,776 | |||||
2015 Performance Share Awards(8) | — | 137,905 | 137,905 | 137,905 | 206,857 | |||||
2016 Performance Share Awards(9) | — | 185,756 | 185,756 | 185,756 | 557,268 | |||||
Other Benefits: | ||||||||||
Retirement Plans(21) | 313,773 | 313,773 | 286,754 | 286,754 | 313,773 | |||||
SERP(19) | 815,834 | 815,834 | 815,834 | 815,834 | 815,834 | |||||
Welfare Benefit(20) | — | — | 174,270 | 174,270 | — | |||||
Deferred Compensation(10) | 141,550 | 141,550 | 141,550 | 141,550 | 141,550 | |||||
Health care(16) | — | — | — | — | 52,993 | |||||
Disability | — | — | — | — | — | |||||
Life Insurance | — | — | — | — | — | |||||
Outplacement Services(17) | — | — | — | — | 30,000 | |||||
Total | 1,271,157 | 1,832,594 | 3,221,717 | 2,965,838 | 5,217,923 |
Alberto L. Satine | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement ($) | Retirement ($) | Change in Control ($) | |||||
Compensation: | ||||||||||
Severance | — | — | — | — | — | |||||
Annual Incentive(13) | — | — | 185,000 | 185,000 | — | |||||
Long Term Incentives: | ||||||||||
RSUs(4) | — | — | 632,396 | — | 632,396 | |||||
2011 Performance Awards(5) | — | 380,800 | 380,800 | 380,800 | — | |||||
2012 Performance Unit Awards(6) | — | 81,455 | 81,455 | 81,455 | 81,455 | |||||
2013 Performance Unit Awards(6) | 72,000 | 72,000 | 72,000 | 72,000 | ||||||
2010 Special Incentive Program | — | — | — | — | — | |||||
Other Benefits: | ||||||||||
Retirement Plans(16) | — | — | 690,218 | 357,635 | — | |||||
SERP(17) | — | — | — | 281,112 | — | |||||
Welfare Benefit(18) | 13,678 | — | ||||||||
Deferred Compensation | — | — | — | — | — | |||||
Health care | — | — | — | — | — | |||||
Disability | — | — | — | — | — | |||||
Life Insurance | — | — | — | — | — | |||||
Outplacement Services | — | — | — | — | — | |||||
Total | — | 534,255 | 2,055,547 | 1,358,002 | 785,851 |
Norman Willemse | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement ($) | Retirement ($) | Change in Control ($) | |||||
Compensation: | ||||||||||
Severance | — | — | — | — | — | |||||
Annual Incentive(13) | — | — | 167,040 | 167,040 | — | |||||
Long Term Incentives: | ||||||||||
RSUs(4) | — | — | 533,929 | — | 533,929 | |||||
2011 Performance Awards(5) | — | 412,080 | 412,080 | 412,080 | — | |||||
2012 Performance Unit Awards(6) | — | 79,062 | 79,062 | 79,062 | 79,062 | |||||
2013 Performance Unit Awards(6) | — | 53,333 | 53,333 | 53,333 | 53,333 | |||||
2010 Special Incentive Program | — | — | — | — | — | |||||
Other Benefits: | ||||||||||
Retirement Plans(19) | — | — | 261,558 | 261,558 | — | |||||
SERP(17) | — | — | 279,998 | 279,998 | — | |||||
Welfare Benefit(18) | — | — | 13,236 | — | — | |||||
Deferred Compensation(8) | 75,904 | 75,904 | 75,904 | 75,904 | 75,904 | |||||
Health care | — | — | — | — | — | |||||
Disability | — | — | — | — | — | |||||
Life Insurance | — | — | — | — | — | |||||
Outplacement Services | — | — | — | — | — | |||||
Total | 75,904 | 620,379 | 1,876,140 | 1,328,975 | 742,228 |
(1) | Assumes total and permanent disability on December 31, |
(2) |
(3) | Under their employment agreements, Mr. Dauch and Mr. Simonte are entitled to receive two years’ base salary |
(5) | In the event of disability or retirement, AAM’s Incentive Compensation Plan for Executive Officers provides a |
Outstanding RSUs vest upon termination of employment due to death, disability or upon a |
The |
(8) | The 2015 performance share awards payable in the event of a disability, retirement or termination without cause are based on target performance and reflect the pro-rata portion of employment during the performance period. As of December 31, |
Under their employment agreements, Mr. Dauch and Mr. Simonte are entitled to two years' health care benefits upon resignation for good reason or termination without cause. Upon termination on or within two years following a CIC, Mr. Dauch (three years) and Mr. Simonte (two years) are also entitled to health care benefits. In the event of disability, Mr. Dauch and Mr. Simonte receive health care benefits for a maximum of 31 months (7 months of short term disability and 24 months of long term disability). |
(12) | Reflects benefits equal to 100% of base salary for the first year |
Under their employment agreements, Mr. |
(15) | Under the CIC Plan, Mr. May, Mr. Satine and Mr. Willemse are entitled to a cash payment equal to two times annual base salary and annual bonus upon termination without cause or resignation for good reason on or within two years following a CIC. The annual bonus amount is based on the greater of the target annual bonus for the year of the CIC or for the year of termination. The severance amount reflects base salary as of December 31, 2016 for two years. The annual bonus amount reflects the 2016 award paid in March 2017 and the 2016 target annual bonus for two years. |
(16) | For Mr. May, Mr. Satine and Mr. Willemse, amounts reflect two years' health care benefits provided upon termination without cause or resignation for good reason on or within two years following a CIC. In the event of disability, Mr. May receives health care benefits for a maximum of 31 months (7 months of short term disability and 24 months of long term disability). |
(17) | Under the CIC Plan, Mr. May, Mr. Satine and Mr. Willemse are entitled to reimbursement of up to $30,000 of outplacement services upon termination of employment without cause or resignation for good |
Reflects a joint and survivor |
Reflects the present value of the SERP benefit calculated assuming a lump sum |
Reflects welfare benefits assuming retirement under |
Reflects Mr. Willemse's benefits in the Albion Pension Plan as of December 31, |
Name | Fees Earned or Paid in Cash(1) ($) | Stock Awards(2) ($) | All Other Compensation(3) ($) | Total ($) | ||||
Salvatore J. Bonanno, Sr.(4) | 43,667 | — | — | 43,667 | ||||
Elizabeth A. Chappell | 93,667 | 100,013 | — | 193,680 | ||||
Forest J. Farmer | 114,667 | 100,013 | — | 214,680 | ||||
Steven B. Hantler | 95,667 | 100,013 | — | 195,680 | ||||
Richard C. Lappin | 113,667 | 100,013 | — | 213,680 | ||||
James A. McCaslin | 99,667 | 100,013 | — | 199,680 | ||||
William P. Miller II | 103,667 | 100,013 | — | 203,680 | ||||
John F. Smith | 108,667 | 100,013 | — | 208,680 | ||||
Larry K. Switzer | 111,667 | 100,013 | 1,500 | 213,180 | ||||
Samuel Valenti III(5) | — | — | — | — | ||||
Thomas K. Walker | 147,667 | 100,013 | — | 247,680 | ||||
Dr. Henry T. Yang(4) | 42,667 | — | — | 42,667 |
Name | Fees Earned or Paid in Cash(1) ($) | Stock Awards(2) ($) | All Other Compensation(3) ($) | Total ($) | ||||
Elizabeth A. Chappell | 120,000 | 110,015 | 2,000 | 232,015 | ||||
Steven B. Hantler(4) | 55,000 | — | 3,500 | 58,500 | ||||
William L. Kozyra | 110,000 | 110,015 | 2,000 | 222,015 | ||||
Peter D. Lyons | 110,000 | 110,015 | 500 | 220,515 | ||||
James A. McCaslin | 150,000 | 110,015 | 400 | 260,415 | ||||
William P. Miller II | 130,000 | 110,015 | 400 | 240,415 | ||||
John F. Smith | 120,000 | 110,015 | 400 | 230,415 | ||||
Samuel Valenti III | 110,000 | 110,015 | 1,000 | 221,015 |
(1) |
(2) | Reflects the full grant date fair value of |
(3) | The Company reimburses non-employee directors for |
(4) | Mr. |
Name | Option Awards Outstanding (#) | Restricted Stock Units Outstanding (#) |
Elizabeth A. Chappell | 5,000 | 27,113 |
Forest J. Farmer | — | 20,613 |
Steven B. Hantler | — | 16,013 |
Richard C. Lappin | — | 21,663 |
James A. McCaslin | — | 16,013 |
William P. Miller II | 7,500 | 30,363 |
John F. Smith | — | 16,013 |
Larry K. Switzer | 7,500 | 30,363 |
Samuel Valenti III | — | — |
Thomas K. Walker | — | 23,863 |
Name | Restricted Stock Units Outstanding (#) |
Elizabeth A. Chappell | 43,933 |
William L. Kozyra | 7,349 |
Peter D. Lyons | 11,361 |
James A. McCaslin | 32,833 |
William P. Miller II | 47,183 |
John F. Smith | 32,833 |
Samuel Valenti III | 16,820 |
Annual retainer | $ | 80,000 | |
Board meeting attendance fee | 1,500 | ||
Committee meeting attendance fee: | |||
Committee chairman | 3,000 | ||
Other committee members | 2,000 | ||
Lead director annual retainer | 20,000 |
Annual retainer | $ | 110,000 | |
Committee chair annual retainer: | |||
Audit Committee chair | 20,000 | ||
Other committee chair | 10,000 | ||
Lead director annual retainer | 30,000 |
Name and Address | Shares of Common Stock Beneficially Owned | Percent of Shares Outstanding |
Sandra J. Dauch(1) | 7,285,232 | 9.64 |
1430 Caxambas Court, Marco Island, FL 34145 | ||
JANA Partners LLC(2) | 6,663,698 | 8.80 |
767 Fifth Avenue, 8th Floor New York, NY 10153 | ||
Barrow, Hanley, Mewhinney & Strauss, LLC(3) | 4,982,055 | 6.59 |
2200 Ross Avenue, 31st Floor Dallas, TX 75201 | ||
Ameriprise Financial, Inc. and Columbia Management Investment Advisers LLC(4) | 4,883,368 | 6.46 |
145 Ameriprise Financial Center Minneapolis, MN 55474 |
Name and Address | Shares of Common Stock Beneficially Owned | Percent of Shares Outstanding |
The Vanguard Group(1) | 9,643,121 | 12.60 |
100 Vanguard Blvd., Malvern, PA 19355 | ||
Blackrock, Inc.(2) | 9,591,550 | 12.50 |
55 East 52nd Street, New York, NY 10055 | ||
Barrow, Hanley, Mewhinney & Strauss, LLC(3) | 4,362,951 | 5.71 |
2200 Ross Avenue, 31st Floor, Dallas TX 75201 | ||
Robert Polak, Anchor Bolt Capital, LP(4) | 3,983,389 | 5.21 |
300 N. LaSalle Street, Suite 1875, Chicago, Illinois 60654 |
(1) | Based on the Schedule 13G filed on February |
(2) | Based on the Schedule 13G filed on |
(3) | Based on the Schedule 13G filed on February |
(4) | Based on the Schedule 13G filed |
Shares Beneficially Owned(1)(2) | Percent of Shares Outstanding | ||
Directors | |||
Elizabeth A. Chappell | 33,113 | * | |
Forest J. Farmer | 42,081 | * | |
Steven B. Hantler | 21,013 | * | |
Richard C. Lappin | 30,463 | * | |
James A. McCaslin | 20,013 | * | |
William P. Miller II | 43,863 | * | |
John F. Smith | 21,013 | * | |
Larry K. Switzer | 38,863 | * | |
Samuel Valenti III | — | — | |
Thomas K. Walker | 34,863 | * | |
Named Executive Officers(3) | |||
David C. Dauch(4) | 91,131 | * | |
Michael K. Simonte | 34,001 | * | |
John J. Bellanti(5) | 70,245 | * | |
Alberto L. Satine | 22,739 | * | |
Norman Willemse | 25,291 | * | |
Directors and Executive Officers as a Group (27 persons) | 734,959 | 1.0 |
Shares Beneficially Owned(1)(2) | Percent of Shares Outstanding | ||
Non-Employee Directors and Nominees | |||
Elizabeth A. Chappell | 45,909 | * | |
William L. Kozyra | 11,361 | * | |
Peter D. Lyons | 16,361 | * | |
James A. McCaslin | 36,833 | * | |
William P. Miller II | 54,883 | * | |
John F. Smith | 37,833 | * | |
Samuel Valenti III | 26,820 | * | |
Named Executive Officers | |||
David C. Dauch(3) | 310,352 | * | |
Christopher J. May | 16,415 | * | |
Michael K. Simonte | 86,521 | * | |
Alberto L. Satine | 33,349 | * | |
Norman Willemse | 29,849 | * | |
Directors, Nominees and Executive Officers as a Group (15 persons) | 741,226 | * |
(1) | Includes vested RSUs awarded to non-employee directors that have been deferred. For the number of RSUs held by each non-employee director, see table to the |
(2) | Includes the following number of shares of common stock which may be acquired upon exercise of options that were |
(3) |
Includes 548 shares held in trusts for the benefit of Mr. |
December 31, | December 31, | |||||||||||
2013 | 2012 | 2016 | 2015 | |||||||||
Audit Fees(1) | $ | 1,615,877 | $ | 1,357,550 | $ | 1,969,240 | $ | 2,110,826 | ||||
Audit Related Fees(2) | — | — | 306,192 | 25,700 | ||||||||
Tax Fees(3) | 151,000 | 80,539 | 310,000 | 505,500 | ||||||||
All Other Fees(4) | 90,000 | — | 40,000 | 164,095 | ||||||||
Total | $ | 1,856,877 | $ | 1,438,089 | $ | 2,625,432 | $ | 2,806,121 |
(1) | Audit fees include fees for the audit of annual consolidated financial statements and internal controls over financial reporting, reviews of quarterly consolidated financial statements, statutory audits, consents and comfort letters, reviews of documents filed with the SEC and other services related to SEC matters. |
(2) | Audit-related fees are for services that are reasonably related to the performance of the audit or review of the Company’s consolidated financial statements. This category also refers to fees for the audit of employee benefit plans. |
(3) | Fees for tax services in |
(4) | Other fees in |
Electronic Voting Instructions Available 24 hours a day, 7 days a week! Instead of mailing your proxy, you may choose one of the voting methods outlined below to vote your proxy. VALIDATION DETAILS ARE LOCATED BELOW IN THE TITLE BAR. Proxies submitted by the Internet or telephone must be received by 1:00 a.m., Central Time, on May | ||
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A | Proposals — | The Board of Directors recommends a vote FOR all the nominees listed in Proposal 1, FOR Proposal 2, and FOR Proposal 3. | Proposals — | The Board of Directors recommends a vote FOR all nominees listed in Proposal 1, FOR Proposal 2, FOR Proposal 3, FOR an annual frequency on Proposal 4 and FOR Proposal 5. | ||||||||||||||||||||||
1 | Election of Directors: | For | Withhold | For | Withhold | For | Withhold | + | Election of Directors: | For | Against | Abstain | For | Against | Abstain | For | Against | Abstain | + | |||||||
01 - James A. McCaslin | o | 02 - William P. Miller II | o | 03 - Samuel Valenti III | o | 01 - James A. McCaslin | o | 02 - William P. Miller II | o | 03 - Samuel Valenti III | o | |||||||||||||||
For | Against | Abstain | For | Against | Abstain | For | Against | Abstain | For | Against | Abstain | |||||||||||||||
2 | Approval, on an advisory basis, of the compensation of the Company’s named executive officers. | o | 3 | Ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2014. | o | Approval of the Amended and Restated American Axle & Manufacturing Holdings, Inc. 2012 Omnibus Incentive Plan | o | 3 | Approval, on an advisory basis, of the compensation of the Company's named executive officers. | o | ||||||||||||||||
In their discretion, the proxies are authorized to the extent permitted by law to vote on any and all other matters as may properly come before the meeting, including the authority to vote to adjourn the meeting. | 1 Year | 2 Years | 3 Years | Abstain | For | Against | Abstain | |||||||||||||||||||
4 | Approval, on an advisory basis, of the frequency of future advisory votes on executive compensation. | o | o | 5 | Ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2017. | o | ||||||||||||||||||||
In their discretion, the proxies are authorized to the extent permitted by law to vote on any and all other matters as may properly come before the meeting, including the authority to vote to adjourn the meeting. |
B | Non-Voting Items | ||||
Change of Address — Please print new address below. | Meeting Attendance | ||||
Mark box to the right if you plan to attend the Annual Meeting. |
C | Authorized Signatures — This section must be completed for your vote to be counted. — Date and Sign Below | |||
Please sign exactly as name(s) appears hereon. Joint owners should each sign. When signing as attorney, executor, administrator, corporate officer, trustee, guardian, or custodian, please give full title. This section must be completed for your instructions to be executed. | ||||
Date (mm/dd/yyyy) — Please print date below. | Signature 1 — Please keep signature within the box. | Signature 2 — Please keep signature within the box. | ||
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