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Time and Place | 8:00 a.m., local time, on Thursday, | |
AAM World Headquarters Auditorium, One Dauch Drive, Detroit, Michigan | ||
Items of Business | (1) | |
(2) | ||
(3) Advisory vote | ||
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(5) Ratification of the appointment of Deloitte & Touche LLP as | ||
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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. Separately, since 2003, Mr. Miller has been a member of the Board of Directors of the Chicago Mercantile Exchange, serving on the Audit Committee, Finance Committee and Market Regulation Oversight | Director since 2005 | |||
SAMUEL VALENTI III Age Mr. Valenti serves as Chairman and Chief Executive Officer of Valenti Capital LLC and World Capital Partners, investment firms located in Bloomfield Hills, Michigan. Since 2002, Mr. Valenti has served as Chairman of the Board of TriMas Corporation, a manufacturer of highly engineered precision products for industry. In June 2015, Mr. Valenti became Co-Chair of the Board of Directors of Horizon Global Corporation, a designer, manufacturer and distributor of custom-engineered towing, trailer and cargo management products. Until 2008, Mr. Valenti had a 40-year career with Masco Corporation, a Fortune 500 manufacturer of home building and home improvement products, serving as Vice President - Investments from 1974 to 1998. From 1988 to 2008, Mr. Valenti was President and a member of the Board of Directors of Masco Capital Corporation. Mr. Valenti is a member of the Business Leaders for Michigan and serves as Chairman of the Renaissance Venture Capital Fund. | Director since 2013 |
DAVID C. DAUCH Age 52 David C. Dauch is Chief Executive Officer of AAM, a position he has held since September 2012. Mr. Dauch was appointed Chairman of the Board in August 2013. From September 2012 through August 2015, Mr. Dauch served as AAM's President & CEO. Prior to that, Mr. Dauch served as President & Chief Operating Officer (2008 - 2012) and held several other positions of increasing responsibility from the time he joined AAM in 1995. Prior to joining AAM, Mr. Dauch held several positions at Collins & Aikman Products Company, where he received the President’s Award for leadership and innovation. Mr. Dauch also served on the Collins & Aikman Board of Directors from 2002 to 2007. Presently, he serves on the boards of Business Leaders for Michigan, the Detroit Economic Club, the Detroit Regional Chamber, the Great Lakes Council Boy Scouts of America, the Boys & Girls Club of Southeast Michigan, the National Association of Manufacturers (NAM), the Original Equipment Suppliers Association (OESA), Amerisure Mutual Holdings, Inc. and the Amerisure Companies (since December 2014) and Horizon Global Corporation (since June 2015). Mr. Dauch also serves on the Miami University Business Advisory Council and the General Motors Supplier Council. Mr. Dauch’s leadership of AAM’s global business and operations provides the Board with strategic vision and insight that are vital to AAM’s strategic plans for the future. | Director since 2009 | |||
WILLIAM L. KOZYRA Age 59 Mr. Kozyra is Chairman of the Board and Chief Executive Officer of TI Automotive Ltd., a global supplier of automotive fluid storage, carrying and delivery technology. He has served as TI Automotive's CEO since June 2008. Prior to that, Mr. Kozyra was President and CEO of Continental AG North America for 10 years. He was also a member of the Executive Board, Continental AG (DAX), Hanover, Germany, with responsibility for Continental AG's NAFTA businesses. Previously, at ITT Automotive, he served as Vice President and General Manager, Brake and Chassis Systems North America. Prior to joining ITT Automotive, he was Vice President and General Manager of Bosch Braking Systems' Brake Products Division. Mr. Kozyra is a member of the Board of Directors of the Motor & Equipment Manufacturers Association (MEMA), the General Motors Supplier Council, the Ford Motor Company Top 100 Supplier Forum, the Board of Trustees of the Notre Dame Preparatory School, the Boy Scouts of America Executive Board in Detroit, Michigan, the Board of Advisors of the University of Detroit and the University of Detroit Alumni Council and the Society of Automotive Engineers. Mr. Kozyra has 36 years of experience in the global automotive industry and demonstrated leadership skills and technical background in the areas of manufacturing, engineering, quality systems and sales, all of which are aligned with AAM's business objectives. | Director since 2015 | |||
PETER D. LYONS Age 61 Mr. Lyons, an attorney, is a partner and Regional Managing Partner - Americas of Freshfields Bruckhaus Deringer US LLP, which he joined in September 2014. Based in the New York office of Freshfields, Mr. Lyons represents leading U.S. and global companies in acquisitions and sales of public and private companies, asset acquisition and disposition transactions, and joint ventures. Prior to joining Freshfields, Mr. Lyons was a partner with Shearman & Sterling LLP and a member of the Mergers & Acquisitions Group based in New York, New York. Mr. Lyons practiced law at Shearman & Sterling for 35 years. Mr. Lyons has been recognized and recommended as a Mergers & Acquisitions practitioner by Chambers Global, Chambers USA, The Legal 500 US, and IFLR1000. Mr. Lyons received his law degree from Georgetown University Law Center and his Bachelor of Arts degree from the University of Virginia. From 2003 to 2014, while a partner at Shearman & Sterling, Mr. Lyons served as lead counsel to AAM and as a key advisor to the Board on legal matters. Mr. Lyons has extensive experience advising global companies and corporate boards as well as highly recognized subject matter expertise in mergers and acquisitions and other corporate transactions, corporate governance and other areas of significance to the Board. | Director since 2015 | |||
ELIZABETH A. CHAPPELL Age 59 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 66 Mr. Smith is principal of Eagle Advisors LLC, a consulting firm that specializes in strategy development and performance improvement. From 2000 to 2010, Mr. Smith held positions of increasing responsibility with General Motors Corporation in sales and marketing, product planning and corporate strategy, most recently as Group Vice President, Corporate Planning and Alliances. During his 42-year career in the automotive industry, Mr. Smith also served as General Manager of Cadillac Motor Car, President of Allison Transmission, and Vice President, Planning at General Motors International Operations in Zurich, Switzerland. Mr. Smith serves on the boards of CEVA Holdings LLC (where he serves on the Executive Committee) and Covisint Corporation (where he serves as Chairman). Mr. Smith also serves as an advisor to VNG.CO, a developer of compressed natural gas refueling stations, Enginetics LLC, a fuel-injection technology start-up company, and Arnold Magnetics. Mr. Smith is a member of the National Advisory Board of Boy Scouts of America. He served on the boards of Smith Electric Vehicles Corp. (June 2012 - December 2013), Plasan Carbon Composites (December 2013 - December 2014) and Arnold Magnetics (January 2015 - September 2016). Mr. Smith's extensive experience in manufacturing, finance, business development, international operations, sales and marketing, product development and mergers and acquisitions is aligned with AAM's key business objectives, including continued global business growth and diversification. | 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 | Chair | X | Chair | X | X | ||||||
Forest J. Farmer | 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 | Chair | X | X | X | Chair | X | X | |||
William P. Miller II | Chair | X | X | Chair | X | ||||||
John F. Smith | X | Chair | X | X | Chair | ||||||
Samuel Valenti III | X | X | X | X | X | X | X | X | |||
Thomas K. Walker | X | ||||||||||
No. of Meetings in 2014 | 4 | 5 | 4 | ||||||||
No. of Meetings in 2016 | 5 | 4 | — | 4 |
(a) Book value or earnings per share; (b) Cash flow, free cash flow or operating cash flow; (c) Earnings before or after either, or any combination |
A | B | C | D | 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) ($) | Weighted Average Remaining Term of Outstanding Options, Warrants and Rights(3) (#) | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column A) (#) | Number of Securities to be issued upon Exercise of Outstanding Options, Warrants and Rights(1) (#) | Weighted Average Exercise Price of Outstanding Options, Warrants and Rights(2) ($) | 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 | 3,213,412 | 18.43 | 1.95 | 1,554,273 | 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 | Comparative Peer Group | Competitor Peer Group |
A. O. Smith Corporation | X | |
BorgWarner Inc. | X | X |
Briggs & Stratton | X | |
Cooper-Standard Holdings, Inc. | X | |
Dana Holding Corporation | X | X |
Donaldson Company, Inc. | X | |
Federal-Mogul Corporation | X | |
Flowserve Corporation | X | |
Kennametal Inc. | X | |
Lear Corporation | X | X |
Meritor Inc. | X | X |
Regal-Beloit Corporation | X | |
Tenneco Automotive Inc. | X | X |
Terex Corporation | X | |
Tower International Inc. | X | |
Trinity Industries, Inc. | X | |
USG Corporation | X | |
Valmont Industries, Inc. | X | |
Visteon Corporation | X | X |
Woodward Inc. | X | |
Autoliv Inc. | X | |
Magna International Inc. | X | |
Total Number of Companies | 20 | 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 | |||||||||||||||||
2014 | 2013 | 2016 | 2015 | % Change | ||||||||||||||
David C. Dauch | $ | 1,100,000 | $ | 1,100,000 | $ | 1,150,000 | $ | 1,150,000 | — | % | ||||||||
Christopher J. May (effective March 1, 2016) | $ | 400,000 | $ | 350,000 | 14 | % | ||||||||||||
Michael K. Simonte | $ | 560,100 | $ | 543,800 | $ | 640,000 | $ | 640,000 | — | % | ||||||||
Alberto L. Satine | $ | 450,000 | $ | 360,000 | $ | 510,000 | $ | 510,000 | — | % | ||||||||
Terry J. Woychowski | $ | 463,500 | $ | 450,000 | ||||||||||||||
Norman Willemse (effective March 1, 2014) | $ | 385,000 | $ | 320,000 | ||||||||||||||
Norman Willemse | $ | 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 | 25% | 1% | 25% | ||||
Target | $100 million | 100% | 4% | 100% | ||||
Maximum | $200 million | 200% | 6% | 200% |
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% |
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 |
Threshold | 10% | 25% | 35th | 50% |
Target | 12% | 100% | 50th | 100% |
Maximum | 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(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, President & Chief Executive Officer | 2014 | 1,100,000 | — | 4,454,330 | — | 2,638,120 | 1,081,679 | 75,189 | 9,349,318 | ||||||||
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 | |||||||||
Michael K. Simonte Executive Vice President & Chief Financial Officer | 2014 | 560,100 | — | 1,296,049 | — | 961,046 | 375,597 | 52,666 | 3,245,458 | ||||||||
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 | |||||||||
Alberto L. Satine Senior Vice President, Global Driveline Operations(6) | 2014 | 450,000 | — | 624,777 | — | 498,640 | 237,798 | 41,032 | 1,852,247 | ||||||||
2013 | 360,000 | — | 216,006 | — | 565,800 | — | 41,399 | 1,183,205 | |||||||||
Terry J. Woychowski Senior Vice President, Advanced Engineering & Quality | 2014 | 463,500 | — | 624,777 | — | 305,100 | 57,407 | 50,819 | 1,501,603 | ||||||||
Norman Willemse Vice President, Metal Formed Product Business Unit | 2014 | 375,767 | — | 445,473 | — | 445,467 | 135,322 | 48,459 | 1,450,488 | ||||||||
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 |
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 grant date fair value of restricted stock units and performance share awards made during fiscal year |
(3) | Reflects amounts earned under the AAM Incentive Compensation Plan for Executive Officers for |
AAM Incentive Compensation Plan | 2012 Omnibus Incentive Plan | Total | |||||||||
David C. Dauch | $ | 1,705,000 | $ | 933,120 | $ | 2,638,120 | |||||
Michael K. Simonte | $ | 555,619 | $ | 405,427 | $ | 961,046 | |||||
Alberto L. Satine | $ | 334,800 | $ | 163,840 | $ | 498,640 | |||||
Terry J. Woychowski | $ | 305,100 | $ | — | $ | 305,100 | |||||
Norman Willemse | $ | 286,440 | $ | 159,027 | $ | 445,467 |
(4) | Reflects the annualized increase in pension value under the Salaried Retirement Program, the Albion Pension Plan and the Supplemental Executive Retirement Program (SERP). See |
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 | 12,975 | 13,000 | 10,214 | 36,533 | — | 2,467 | 75,189 | 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 | 12,975 | 13,000 | 4,585 | 20,596 | — | 1,510 | 52,666 | 13,250 | 13,250 | 6,309 | 17,427 | — | 600 | 50,836 | ||||||||||||||
Alberto L. Satine | 1,625 | 13,000 | 4,363 | 19,034 | — | 3,010 | 41,032 | 12,975 | 13,250 | 8,088 | 23,217 | — | 600 | 58,130 | ||||||||||||||
Terry J. Woychowski | 8,750 | 8,125 | 4,606 | 28,738 | — | 600 | 50,819 | |||||||||||||||||||||
Norman Willemse | 12,000 | 13,000 | 3,707 | — | 336 | 19,416 | 48,459 | 12,865 | 13,250 | 6,536 | — | 674 | 600 | 33,925 |
(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. Dauch, includes the cost of travel for spouse accompanying him to Company business meetings or events, personal umbrella liability insurance premiums, cost of an executive physical and meals provided during business hours. For Mr. May, Mr. Simonte, Mr. Satine and Mr. |
Name | 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) ($) | Grant Date | Approval Date | Estimated Future Payouts under Non Equity Incentive Plan Awards(1) | Estimated Future Payouts under Equity Incentive Plan Awards(2) | All Other Stock Awards: Number of Shares of Stock or Units(3) (#) | Grant Date Fair Value of Stock and Option Awards(4) ($) | ||||||||||||||||||||||||
Threshold ($) | Target ($) | Maximum ($) | Threshold (#) | Target (#) | Maximum (#) | Threshold ($) | Target ($) | Maximum ($) | Threshold (#) | Target (#) | Maximum (#) | |||||||||||||||||||||||||
David C. Dauch | ||||||||||||||||||||||||||||||||||||
Annual Incentive | 1/1/2016 | 12/8/2015 | 718,750 | 1,437,500 | 2,875,000 | — | — | — | — | — | ||||||||||||||||||||||||||
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 | 1/1/2014 | 10/29/2013 | 343,750 | 1,375,000 | 2,750,000 | — | — | — | — | — | 1/1/2016 | 12/8/2015 | 120,000 | 240,000 | 480,000 | — | — | — | — | — | ||||||||||||||||
Performance Shares (TSR) | 3/6/2014 | 2/5/2014 | — | — | — | 32,247 | 64,493 | 128,986 | — | 1,361,447 | 3/4/2016 | 2/3/2016 | 4,278 | 8,555 | 17,110 | 112,599 | ||||||||||||||||||||
Performance Shares (EBITDA) | 3/6/2014 | 2/5/2014 | — | — | — | 16,123 | 64,493 | 128,986 | — | 1,783,877 | 3/4/2016 | 2/3/2016 | 2,139 | 8,555 | 17,110 | 239,851 | ||||||||||||||||||||
Restricted Stock Units | 3/6/2014 | 2/5/2014 | — | — | — | — | — | — | 66,447 | 1,309,006 | 3/4/2016 | 2/3/2016 | — | — | — | — | — | — | 8,814 | 136,000 | ||||||||||||||||
Michael K. Simonte | ||||||||||||||||||||||||||||||||||||
Annual Incentive | 1/1/2014 | 10/29/2013 | 112,020 | 448,080 | 896,160 | — | — | — | — | — | 1/1/2016 | 12/8/2015 | 320,000 | 640,000 | 1,280,000 | — | — | — | — | — | ||||||||||||||||
Performance Shares (TSR) | 3/6/2014 | 2/5/2014 | — | — | — | 9,383 | 18,765 | 37,530 | — | 396,129 | 3/4/2016 | 2/3/2016 | — | — | — | 15,741 | 31,482 | 62,964 | — | 414,359 | ||||||||||||||||
Performance Shares (EBITDA) | 3/6/2014 | 2/5/2014 | — | — | — | 4,691 | 18,765 | 37,530 | — | 519,040 | 3/4/2016 | 2/3/2016 | — | — | — | 7,871 | 31,482 | 62,964 | — | 882,639 | ||||||||||||||||
Restricted Stock Units | 3/6/2014 | 2/5/2014 | — | — | — | — | — | — | 19,334 | 380,880 | 3/4/2016 | 2/3/2016 | — | — | — | — | — | — | 32,436 | 500,488 | ||||||||||||||||
Alberto L. Satine | ||||||||||||||||||||||||||||||||||||
Annual Incentive | 1/1/2014 | 10/29/2013 | 67,500 | 270,000 | 540,000 | — | — | — | — | — | 1/1/2016 | 12/8/2015 | 204,000 | 408,000 | 816,000 | — | — | — | — | — | ||||||||||||||||
Performance Shares (TSR) | 3/6/2014 | 2/5/2014 | — | — | — | 4,523 | 9,046 | 18,092 | — | 190,961 | 3/4/2016 | 2/3/2016 | — | — | — | 8,181 | 16,361 | 32,722 | — | 215,340 | ||||||||||||||||
Performance Shares (EBITDA) | 3/6/2014 | 2/5/2014 | — | — | — | 2,262 | 9,046 | 18,092 | — | 250,212 | 3/4/2016 | 2/3/2016 | — | — | — | 4,090 | 16,361 | 32,722 | — | 458,702 | ||||||||||||||||
Restricted Stock Units | 3/6/2014 | 2/5/2014 | — | — | — | — | — | — | 9,320 | 183,604 | 3/4/2016 | 2/3/2016 | — | — | — | — | — | — | 16,857 | 260,104 | ||||||||||||||||
Terry J. Woychowski | ||||||||||||||||||||||||||||||||||||
Annual Incentive | 1/1/2014 | 10/29/2013 | 67,500 | 270,000 | 540,000 | — | — | — | — | — | ||||||||||||||||||||||||||
Performance Shares (TSR) | 3/6/2014 | 2/5/2014 | — | — | — | 4,523 | 9,046 | 18,092 | — | 190,961 | ||||||||||||||||||||||||||
Performance Shares (EBITDA) | 3/6/2014 | 2/5/2014 | — | — | — | 2,262 | 9,046 | 18,092 | — | 250,212 | ||||||||||||||||||||||||||
Restricted Stock Units | 3/6/2014 | 2/5/2014 | — | — | — | — | — | — | 9,320 | 183,604 | ||||||||||||||||||||||||||
Norman Willemse | ||||||||||||||||||||||||||||||||||||
Annual Incentive | 1/1/2014 | 10/29/2013 | 57,750 | 231,000 | 462,000 | — | — | — | — | — | 1/1/2016 | 12/8/2015 | 180,000 | 360,000 | 720,000 | — | — | — | — | — | ||||||||||||||||
Performance Shares (TSR) | 3/6/2014 | 2/5/2014 | — | — | — | 3,225 | 6,450 | 12,900 | — | 136,159 | 3/4/2016 | 2/3/2016 | — | — | — | 7,219 | 14,437 | 28,874 | — | 190,017 | ||||||||||||||||
Performance Shares (EBITDA) | 3/6/2014 | 2/5/2014 | — | — | — | 1,613 | 6,450 | 12,900 | — | 178,407 | 3/4/2016 | 2/3/2016 | — | — | — | 3,609 | 14,437 | 28,874 | — | 404,760 | ||||||||||||||||
Restricted Stock Units | 3/6/2014 | 2/5/2014 | — | — | — | — | — | — | 6,645 | 130,907 | 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 share awards granted under the 2012 Omnibus Incentive Plan. The awards are payable in common stock based on the Company's EBITDA margin and relative TSR performance, each weighted 50%, over the |
(3) | Reflects RSUs granted under the 2012 Omnibus Incentive Plan. The awards are payable in common stock, contingent upon continued employment through the |
(4) | Reflects the full grant date fair value of performance share awards and RSUs made during fiscal year |
CEO Employment Agreement | President Employment Agreement | |
Base Salary | $1,150,000 effective January 1, 2015, subject to annual review and increase by the Compensation Committee. | $640,000 effective August 1, 2015, subject to annual review and increase by the Compensation Committee. |
Annual Incentive | Participation in the annual incentive plan for | 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 for executive officers. Target opportunity of 400% for 2016, subject to annual review and increase by the Compensation Committee. | 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 Company's group health care plans for salaried associates as of September 1, 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. |
EBITDA Margin Performance Measure | Relative TSR Performance Measure | ||||||
Performance Level | 3-Year Cumulative EBITDA Margin | Percent of Target Award Opportunity Earned | Company TSR Percentile Rank | Percent of Target Award Opportunity Earned | |||
Threshold | 10% | 25% | 35th | 50% | |||
Target | 12% | 100% | 50th | 100% | |||
Maximum | 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 | 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) ($) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested(3) (#) | Equity Incentive Plan Awards: Market of Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested(4) ($) | 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 | 12,000 | 26.65 | 3/15/2015 | 79,326(5) | 1,791,974 | 13,000 | 26.02 | 3/14/2017 | 66,447(3) | 1,282,427 | ||||||||||||||
15,000 | 15.58 | 3/15/2016 | 22,382(6) | 505,609 | 58,070(4) | 1,120,751 | ||||||||||||||||||
13,000 | 26.02 | 3/14/2017 | 137,687(7) | 3,110,349 | 101,361(5) | 1,956,267 | ||||||||||||||||||
66,447(8) | 1,501,038 | 28,181(6) | 543,893 | |||||||||||||||||||||
64,493 | 728,448 | 112,724(6) | 2,175,573 | |||||||||||||||||||||
64,493 | 2,913,794 | 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 | 9,000 | 26.65 | 3/15/2015 | 34,466(5) | 778,587 | 10,000 | 26.02 | 3/14/2017 | 19,334(3) | 373,146 | ||||||||||||||
15,537(4) | 299,864 | |||||||||||||||||||||||
32,436(5) | 626,015 | |||||||||||||||||||||||
10,000 | 15.58 | 3/15/2016 | 42,786(7) | 966,536 | 7,540(6) | 145,522 | ||||||||||||||||||
10,000 | 26.02 | 3/14/2017 | 19,334(8) | 436,755 | 30,160(6) | 582,088 | ||||||||||||||||||
18,765 | 211,951 | 15,741(7) | 303,801 | |||||||||||||||||||||
18,765 | 847,803 | 62,964(7) | 1,215,205 | |||||||||||||||||||||
Alberto L. Satine | 8,000 | 26.65 | 3/15/2015 | 13,929(5) | 314,656 | 8,000 | 26.02 | 3/14/2017 | 9,320(3) | 179,876 | ||||||||||||||
8,000 | 26.02 | 3/14/2017 | 16,995(7) | 383,917 | 7,490(4) | 144,557 | ||||||||||||||||||
9,320(8) | 210,539 | 16,857(5) | 325,340 | |||||||||||||||||||||
9,046 | 102,175 | 3,635(6) | 70,156 | |||||||||||||||||||||
9,046 | 408,698 | 14,540(6) | 280,622 | |||||||||||||||||||||
Terry J. Woychowski | 14,234(7) | 321,546 | ||||||||||||||||||||||
9,320(8) | 210,539 | |||||||||||||||||||||||
9,046 | 102,175 | 8,181(7) | 157,893 | |||||||||||||||||||||
9,046 | 408,698 | 32,722(7) | 631,535 | |||||||||||||||||||||
Norman Willemse | 9,700 | 10.08 | 6/25/2018 | 13,520(5) | 305,417 | 9,700 | 10.08 | 6/25/2018 | 6,645(3) | 128,249 | ||||||||||||||
12,589(7) | 284,386 | 5,521(4) | 106,555 | |||||||||||||||||||||
6,645(8) | 150,111 | 14,874(5) | 287,068 | |||||||||||||||||||||
6,450 | 72,853 | 2,680(6) | 51,724 | |||||||||||||||||||||
6,450 | 291,411 | 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 at |
(3) |
(4) | Reflects |
(5) | Reflects RSUs granted on March 4, 2016. RSUs vest three years from the date of grant. |
(6) | Reflects performance shares granted on March |
(7) | Reflects |
(8) | Reflects |
Option Awards | Stock Awards | Option Awards | Stock Awards | |||||||||||||
Name | Number of Shares Acquired on Exercise (#) | Value Realized on Exercise ($) | Number of Shares Acquired on Vesting(1) (#) | Value Realized on Vesting(2) ($) | Number of Shares Acquired on Exercise (1) (#) | Value Realized on Exercise (1) ($) | Number of Shares Acquired on Vesting(2) (#) | Value Realized on Vesting(3) ($) | ||||||||
David C. Dauch | — | — | — | — | — | — | 260,869 | 4,501,923 | ||||||||
Christopher J. May | — | — | 9,678 | 149,332 | ||||||||||||
Michael K. Simonte | — | — | — | — | — | — | 78,628 | 1,351,939 | ||||||||
Alberto L. Satine | — | — | — | — | — | — | 34,273 | 595,698 | ||||||||
Terry J. Woychowski | — | — | 7,010 | 138,097 | ||||||||||||
Norman Willemse | — | — | — | — | — | — | 24,909 | 432,024 |
(1) | No stock options were exercised by the NEOs in 2016. |
(2) | Reflects the |
Reflects the number of shares underlying vested RSUs multiplied by the closing market price of AAM common stock on the vesting date. Also, includes the number of performance shares earned for the period ending December 31, 2016 multiplied by the closing market price of AAM common stock at December 30, 2016. |
Name | Plan Name | Number of Years of Credited Service(1) (#) | Present Value of Accumulated Benefit ($) | 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 | 335,847 | AAM Retirement Program for Salaried Employees | 11.5000 | 364,791 | ||
AAM Supplemental Executive Retirement Program | 19.5000 | 2,613,832 | 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 | 224,099 | AAM Retirement Program for Salaried Employees | 8.0833 | 243,377 | ||
AAM Supplemental Executive Retirement Program | 16.0833 | 1,142,427 | AAM Supplemental Executive Retirement Program | 18.0833 | 1,868,966 | |||
Alberto L. Satine(2) | AAM Retirement Program for Salaried Employees | 10.5833 | 506,351 | |||||
AAM Supplemental Executive Retirement Program | 13.5833 | 412,099 | ||||||
Terry J. Woychowski(3) | AAM Retirement Program for Salaried Employees | — | — | |||||
AAM Supplemental Executive Retirement Program | 1.9167 | 82,596 | ||||||
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 | 329,189 | Albion Pension Plan | 6.3333 | 313,773 | ||
AAM Supplemental Executive Retirement Program(5) | 13.5000 | 393,941 | AAM Supplemental Executive Retirement Program | 15.5000 | 815,834 |
(1) | The years of credited service are through December 31, 2016. Benefits under the SRP were frozen effective December 31, 2006 for Mr. Dauch, Mr. May and Mr. Simonte. Benefits under the SRP were frozen effective December 31, 2011 for Mr. Satine. As a result, credited service under the SRP is less than actual service with the Company. Credited service under the SERP reflects actual years of service with the |
(2) | The values shown are based on benefits deferred to the earliest age at which unreduced benefits are payable. The assumptions used to calculate the actuarial present value of accumulated benefits are the same assumptions used in our audited consolidated financial statements for the fiscal year ended December 31, 2016 and assume continued employment until unreduced retirement age is attained. For material assumptions used, see Note 6 to the audited consolidated financial statements in our annual report on Form 10-K for the fiscal year ended December 31, 2016. |
(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 ($) | Aggregate Balance at Last FYE(4) ($) | 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 | — | — | 23,021 | — | 375,215 | — | — | 15,219 | — | 400,741 | ||||||||||
Christopher J. May | — | — | — | — | — | |||||||||||||||
Michael K. Simonte | — | — | — | — | — | — | — | — | — | — | ||||||||||
Alberto L. Satine | — | — | — | — | — | — | — | — | — | — | ||||||||||
Terry J. Woychowski | — | — | — | — | — | |||||||||||||||
Norman Willemse | 46,765 | 902 | 5,125 | — | 128,696 | — | — | 14,847 | — | 141,550 |
(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 | 7.56 | % | 0.05 | % | Vanguard External Market Index Fund | 16.13 | % |
PIMCO Total Return Fund | 4.69 | % | Fidelity Freedom Income K Fund | 3.96 | % | 2.60 | % | Harding Loevner Institutional Emerging Market Fund | 13.27 | % |
PIMCO High Yield Fund | 3.31 | % | Fidelity Freedom K 2005 Fund | 4.57 | % | 12.70 | % | Fidelity Freedom Income K Fund | 5.18 | % |
Domini Social Equity Fund | 14.25 | % | Fidelity Freedom K 2010 Fund | 4.93 | % | |||||
Spartan 500 Index Fund | 13.65 | % | Fidelity Freedom K 2015 Fund | 5.25 | % | |||||
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 | 11.33 | % | Fidelity Freedom K 2020 Fund | 5.40 | % | 13.52 | % | Fidelity Freedom K 2025 Fund | 7.59 | % |
T. Rowe Price Growth Stock Fund | 8.83 | % | Fidelity Freedom K 2025 Fund | 5.75 | % | 1.41 | % | Fidelity Freedom K 2030 Fund | 8.25 | % |
Fidelity Growth Company Fund | 14.44 | % | Fidelity Freedom K 2030 Fund | 5.86 | % | 6.01 | % | Fidelity Freedom K 2035 Fund | 8.72 | % |
Fidelity Low-Priced Stock Fund | 7.75 | % | Fidelity Freedom K 2035 Fund | 5.88 | % | 8.88 | % | Fidelity Freedom K 2040 Fund | 8.72 | % |
Nuveen Mid Cap Growth Opportunities | 8.57 | % | Fidelity Freedom K 2040 Fund | 5.88 | % | 1.56 | % | Fidelity Freedom K 2045 Fund | 8.79 | % |
American Beacon Small Cap Value Fund | 4.70 | % | Fidelity Freedom K 2045 Fund | 5.90 | % | 26.77 | % | Fidelity Freedom K 2050 Fund | 8.71 | % |
Royce PA Mutual Fund | (0.70 | )% | Fidelity Freedom K 2050 Fund | 5.96 | % | |||||
PNC Small Cap Fund | 10.04 | % | Fidelity Freedom K 2055 Fund | 8.77 | % | |||||
Fidelity Diversified International Fund | (3.20 | )% | Fidelity Freedom K 2055 Fund | 5.99 | % | (3.60 | )% | Fidelity Freedom K 2060 Fund | 8.74 | % |
Spartan International Index Fund | (5.37 | )% | ||||||||
Fidelity International Index Fund | 1.30 | % |
David C. Dauch | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement(1) ($) | Retirement ($) | 2014 Change in Control(2) ($) | 2015 Change in Control(3) ($) | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement(1) ($) | Retirement ($) | Termination Upon a Change in Control(2) ($) | |||||||||||
Compensation: | ||||||||||||||||||||||
Severance | 2,200,000(4) | 2,200,000(4) | — | — | 2,200,000(5) | 3,300,000(6) | 2,300,000(3) | 2,300,000(3) | — | — | 3,450,000(4) | |||||||||||
Annual Incentive | 1,705,000(4) | 1,705,000(4) | 1,705,000(7) | — | 2,750,000(5) | 4,125,000(6) | 2,875,000(3) | 2,875,000(3) | 2,875,000(5) | — | 7,187,500(4) | |||||||||||
Long Term Incentives: | ||||||||||||||||||||||
RSUs | — | — | 6,908,970 | — | 6,908,970 | 6,908,970 | — | — | 4,359,445 | — | 4,359,445 | |||||||||||
2012 Performance Unit Awards(9) | — | 1,141,453 | 1,141,453 | — | 1,141,453 | 1,141,453 | ||||||||||||||||
2013 Performance Unit Awards(10) | — | 1,166,667 | 1,166,667 | — | 1,166,667 | 1,166,667 | ||||||||||||||||
2014 Performance Share Awards(11) | — | 971,265 | 971,265 | — | 971,265 | 971,265 | ||||||||||||||||
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(12) | 375,215 | 375,215 | 375,215 | — | 375,215 | 375,215 | ||||||||||||||||
Health care(13) | 32,489 | 32,489 | 329,791 | — | 32,489 | 49,355 | ||||||||||||||||
Disability(14) | — | — | 7,785,241 | — | — | — | ||||||||||||||||
Life Insurance(15) | — | — | 114,413 | — | — | — | ||||||||||||||||
Outplacement Services(16) | 50,000 | 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 | 4,362,704 | 7,642,089 | 20,498,015 | — | 15,596,059 | 18,087,925 | 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 ($) | 2014 Change in Control(2) ($) | 2015 Change in Control(3) ($) | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement(1) ($) | Retirement ($) | Termination Upon a Change in Control(2) ($) | |||||||||||
Compensation: | ||||||||||||||||||||||
Severance | — | — | — | — | — | 1,120,200(17) | 1,280,000(3) | 1,280,000(3) | — | — | 1,280,000(4) | |||||||||||
Annual Incentive | — | — | 555,619(7) | — | — | 896,160(17) | 1,280,000(3) | 1,280,000(3) | 1,280,000(5) | — | 2,560,000(4) | |||||||||||
Long Term Incentives: | ||||||||||||||||||||||
RSUs | — | — | 2,181,878 | — | 2,181,878 | 2,181,878 | — | — | 1,299,025 | — | 1,299,025 | |||||||||||
2012 Performance Unit Awards(9) | — | 405,427 | 405,427 | — | 405,427 | 405,427 | ||||||||||||||||
2013 Performance Unit Awards(10) | — | 362,533 | 362,533 | — | 362,533 | 362,533 | ||||||||||||||||
2014 Performance Share Awards(11) | — | 282,601 | 282,601 | 282,601 | 282,601 | |||||||||||||||||
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(18) | — | — | 324,858 | — | — | 32,489 | ||||||||||||||||
Disability(14) | — | — | 4,271,514 | — | — | — | ||||||||||||||||
Life Insurance(15) | — | — | 58,199 | — | — | — | ||||||||||||||||
Outplacement Services(19) | — | — | — | — | — | 30,000 | ||||||||||||||||
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 | — | 1,050,561 | 8,442,629 | — | 3,232,439 | 5,311,288 | 2,627,860 | 4,112,718 | 8,479,235 | — | 7,695,909 |
Alberto L. Satine | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement ($) | Retirement ($) | 2014 Change in Control(2) ($) | 2015 Change in Control(3) ($) | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement ($) | Retirement ($) | Termination Upon a Change in Control(2) ($) | |||||||||||
Compensation: | ||||||||||||||||||||||
Severance | — | — | — | — | — | 900,000(17) | — | — | — | — | 1,020,000(15) | |||||||||||
Annual Incentive | — | — | 334,800(7) | 334,800(7) | — | 540,000(17) | — | — | 814,500(5) | 814,500(5) | 1,630,500(15) | |||||||||||
Long Term Incentives: | ||||||||||||||||||||||
RSUs | — | — | 909,112 | 70,180 | 909,112 | 909,112 | — | — | 649,773 | 348,596 | 649,773 | |||||||||||
2012 Performance Unit Awards(9) | — | 163,840 | 163,840 | 163,840 | 163,840 | 163,840 | ||||||||||||||||
2013 Performance Unit Awards(10) | — | 144,000 | 144,000 | 144,000 | 144,000 | 144,000 | ||||||||||||||||
2014 Performance Share Awards(11) | — | 136,233 | 136,233 | 136,233 | 136,233 | 136,233 | ||||||||||||||||
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(20) | 506,351 | 506,351 | 767,400 | 428,695 | 506,351 | 506,351 | ||||||||||||||||
SERP(21) | 412,099 | 412,099 | 153,967 | 412,099 | 412,099 | 412,099 | ||||||||||||||||
Welfare Benefit(22) | — | — | 15,271 | — | — | — | ||||||||||||||||
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(18) | — | — | — | — | — | 41,434 | ||||||||||||||||
Health care(16) | — | — | — | — | 52,993 | |||||||||||||||||
Disability | — | — | — | — | — | — | — | — | — | — | — | |||||||||||
Life Insurance | — | — | — | — | — | — | — | — | — | — | — | |||||||||||
Outplacement Services(19) | — | — | — | — | — | 30,000 | ||||||||||||||||
Outplacement Services(17) | — | — | — | — | 30,000 | |||||||||||||||||
Total | 918,450 | 1,362,523 | 2,624,623 | 1,689,847 | 2,271,635 | 3,783,069 | 1,423,688 | 2,154,746 | 3,843,476 | 3,520,500 | 6,052,576 |
Terry J. Woychowski | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement(1) ($) | Retirement ($) | 2014 Change in Control(2) ($) | 2015 Change in Control(3) ($) | ||||||
Compensation: | ||||||||||||
Severance | — | — | — | — | — | 927,000(17) | ||||||
Annual Incentive | — | — | 305,100(7) | — | — | 540,000(17) | ||||||
Long Term Incentives: | ||||||||||||
RSUs(8) | — | — | 532,085 | — | 532,085 | 532,085 | ||||||
2012 Performance Unit Awards | — | — | — | — | — | — | ||||||
2013 Performance Unit Awards(10) | — | 180,000 | 180,000 | — | 180,000 | 180,000 | ||||||
2014 Performance Share Awards(11) | — | 136,233 | 136,233 | — | 136,233 | 136,233 | ||||||
Other Benefits: | ||||||||||||
Retirement Plans | — | — | — | — | — | — | ||||||
SERP | — | — | — | — | — | — | ||||||
Welfare Benefit | — | — | — | — | — | — | ||||||
Deferred Compensation | — | — | — | — | — | — | ||||||
Health care(18) | — | — | 155,420 | — | — | 41,431 | ||||||
Disability(14) | — | — | 1,664,573 | — | — | — | ||||||
Life Insurance(15) | — | — | 35,992 | — | — | — | ||||||
Outplacement Services(19) | — | — | — | — | — | 30,000 | ||||||
Total | — | 316,233 | 3,009,403 | — | 848,318 | 2,386,749 |
Norman Willemse | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement ($) | Retirement ($) | 2014 Change in Control(2) ($) | 2015 Change in Control(3) ($) | For Good Reason Resignation ($) | Without Cause Termination ($) | Disability Retirement ($) | Retirement ($) | Termination Upon a Change in Control(2) ($) | |||||||||||
Compensation: | ||||||||||||||||||||||
Severance | — | — | — | — | — | 770,000(17) | — | — | — | — | 900,000(15) | |||||||||||
Annual Incentive | — | — | 286,440(7) | 286,440(7) | — | 462,000(17) | — | — | 720,000(5) | 720,000(5) | 1,440,000(15) | |||||||||||
Long Term Incentives: | ||||||||||||||||||||||
RSUs | — | — | 739,914 | 50,037 | 739,914 | 739,914 | — | — | 521,872 | 265,993 | 521,872 | |||||||||||
2012 Performance Unit Awards(9) | — | 159,027 | 159,027 | 159,027 | 159,027 | 159,027 | ||||||||||||||||
2013 Performance Unit Awards(10) | — | 106,667 | 106,667 | 106,667 | 106,667 | 106,667 | ||||||||||||||||
2014 Performance Share Awards(11) | — | 97,137 | 97,137 | 97,137 | 97,137 | 97,137 | ||||||||||||||||
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(23) | 329,189 | 329,189 | 299,893 | 299,893 | 329,189 | 329,189 | ||||||||||||||||
SERP(21) | 393,941 | 393,941 | 393,941 | 393,941 | 393,941 | 393,941 | ||||||||||||||||
Welfare Benefit(22) | — | — | 14,772 | — | — | — | ||||||||||||||||
Deferred Compensation(12) | 128,696 | 128,696 | 128,696 | 128,696 | 128,696 | 128,696 | ||||||||||||||||
Health care(18) | — | — | — | — | — | 41,435 | ||||||||||||||||
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(19) | — | — | — | — | 30,000 | |||||||||||||||||
Outplacement Services(17) | — | — | — | — | 30,000 | |||||||||||||||||
Total | 851,826 | 1,214,657 | 2,226,487 | 1,521,838 | 1,954,571 | 3,258,006 | 1,271,157 | 1,832,594 | 3,221,717 | 2,965,838 | 5,217,923 |
(1) | Assumes total and permanent disability on December 31, |
(2) | For Mr. Dauch and Mr. Simonte, amounts reflect CIC benefits under |
Under their employment agreements, Mr. Dauch |
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 CIC. The value reflects the number of RSUs multiplied by the closing price of AAM common stock on December |
The 2014 performance share awards payable in the event of a disability, retirement, termination without cause or upon a CIC |
(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, |
The 2016 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, 2016, approximately 1/3 of the performance period has lapsed. Amounts reflect pro-rata awards at the target amount of shares multiplied by the closing price of AAM common stock on December 30, 2016. The 2016 performance share awards vest in full upon termination without cause or resignation for good reason on or within two years following a CIC. |
(10) | Amounts reflect account balances in the Executive Deferred Compensation Plan as of December 31, |
Under their employment agreements, Mr. |
Reflects benefits equal to 100% of base salary for the first year |
Reflects basic and supplemental life insurance benefits |
Under their employment agreements, Mr. Dauch |
Under the CIC Plan, Mr. |
Under the CIC Plan, Mr. |
Reflects a joint and survivor benefit payable monthly. |
Reflects the present value of the SERP benefit calculated assuming a lump sum payment for Mr. Satine and Mr. Willemse. |
Reflects welfare benefits assuming retirement under the retiree welfare plan. |
Reflects Mr. Willemse's benefits in the Albion Pension Plan as of December 31, |
Name | Fees Earned or Paid in Cash ($) | Stock Awards(1) ($) | Total ($) | Fees Earned or Paid in Cash(1) ($) | Stock Awards(2) ($) | All Other Compensation(3) ($) | Total ($) | |||||||
Elizabeth A. Chappell | 105,000 | 100,009 | 205,009 | 120,000 | 110,015 | 2,000 | 232,015 | |||||||
Forest J. Farmer | 99,000 | 100,009 | 199,009 | |||||||||||
Steven B. Hantler | 94,000 | 100,009 | 194,009 | |||||||||||
Richard C. Lappin | 116,000 | 100,009 | 216,009 | |||||||||||
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 | 141,000 | 100,009 | 241,009 | 150,000 | 110,015 | 400 | 260,415 | |||||||
William P. Miller II | 114,000 | 100,009 | 214,009 | 130,000 | 110,015 | 400 | 240,415 | |||||||
John F. Smith | 114,000 | 100,009 | 214,009 | 120,000 | 110,015 | 400 | 230,415 | |||||||
Larry K. Switzer(2) | 55,000 | — | 55,000 | |||||||||||
Samuel Valenti III | 106,000 | 100,009 | 206,009 | 110,000 | 110,015 | 1,000 | 221,015 | |||||||
Thomas K. Walker | 118,000 | 100,009 | 218,009 |
(1) | Fees earned in 2016 for services whether paid in cash or deferred under the AAM Executive Deferred Compensation Plan. |
(2) | Reflects the full grant date fair value of restricted stock unit awards granted on May |
The Company reimburses non-employee directors for travel and related out-of-pocket expenses in connection with attending Board, committee and stockholder meetings. From time to time, the Company invites spouses of non-employee directors to attend Company events associated with these meetings. The Company pays for spousal travel and certain other expenses and reimburses non-employee directors for taxes attributable to the income associated with this benefit. Amounts reflect reimbursement of taxes on this income. |
(4) | Mr. |
Name | Option Awards Outstanding (#) | Restricted Stock Units Outstanding (#) |
Elizabeth A. Chappell | 5,000 | 32,572 |
Forest J. Farmer | — | 26,072 |
Steven B. Hantler | — | 21,472 |
Richard C. Lappin | — | 19,843 |
James A. McCaslin | — | 21,472 |
William P. Miller II | 7,500 | 35,822 |
John F. Smith | — | 21,472 |
Samuel Valenti III | — | 5,459 |
Thomas K. Walker | — | 29,322 |
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) | 5,469,917 | 7.17 |
1430 Caxambas Court, Marco Island, FL 34145 | ||
Blackrock, Inc.(2) | 5,022,063 | 6.60 |
55 East 52nd Street, New York, NY 10022 | ||
Barrow, Hanley, Mewhinney & Strauss, LLC(3) | 4,938,428 | 6.52 |
2200 Ross Avenue, 31st Floor Dallas, TX 75201 | ||
The Vanguard Group(4) | 4,183,443 | 5.52 |
100 Vanguard Blvd., Malvern, PA 19355 |
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 | ||
Non-Employee Directors and Nominees | |||
Elizabeth A. Chappell | |||
* | |||
William L. Kozyra | |||
* | |||
Peter D. Lyons | * | ||
James A. McCaslin | * | ||
William P. Miller II | * | ||
John F. Smith | * | ||
Samuel Valenti III | |||
* | |||
Named Executive Officers | |||
David C. Dauch(3) | * | ||
Christopher J. May | 16,415 | * | |
Michael K. Simonte | * | ||
Alberto L. Satine | |||
* | |||
Norman Willemse | * | ||
Directors, Nominees and Executive Officers as a Group ( | * |
(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. Dauch’s children. |
December 31, | December 31, | |||||||||||
2014 | 2013 | 2016 | 2015 | |||||||||
Audit Fees(1) | $ | 1,753,564 | $ | 1,615,877 | $ | 1,969,240 | $ | 2,110,826 | ||||
Audit Related Fees(2) | — | — | 306,192 | 25,700 | ||||||||
Tax Fees(3) | 671,410 | 151,000 | 310,000 | 505,500 | ||||||||
All Other Fees(4) | 164,043 | 90,000 | 40,000 | 164,095 | ||||||||
Total | $ | 2,589,017 | $ | 1,856,877 | $ | 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 |
(l) Growth in managed assets; |
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A | Proposals — | The Board of Directors recommends a vote FOR all nominees listed in Proposal 1, FOR Proposal 2, FOR Proposal 3 and FOR Proposal 4. | 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 - David C. Dauch | o | 02 - William L. Kozyra | o | 03 - Peter D. Lyons | 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 of Amended and Restated American Axle & Manufacturing Holdings, Inc. 2012 Omnibus Incentive Plan | o | 3 | Approval, on an advisory basis, of the compensation of the Comany's named executive officers. | 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 | ||||||||||||||||
1 Year | 2 Years | 3 Years | Abstain | For | Against | Abstain | ||||||||||||||||||||
4 | Ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2015. | 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. | 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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