☐ | Preliminary Proxy Statement | ||||
☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) | ||||
☒ | Definitive Proxy Statement | ||||
☐ | Definitive Additional Materials | ||||
☐ | Soliciting Material Pursuant to §240.14a-12 |
☒ | No fee required | ||||||||||
☐ | Fee paid previously with preliminary materials | ||||||||||
☐ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 | ||||||||||
Sincerely, | ||
Ivo Jurek | ||
Chief Executive Officer |
A- |
Name | Age | Position | |||||||||||||||
Neil P. Simpkins | Director, Chair of the Board | ||||||||||||||||
Ivo Jurek | Director, Chief Executive Officer | ||||||||||||||||
James W. Ireland, III | Director | ||||||||||||||||
Julia C. Kahr | Director | ||||||||||||||||
Terry Klebe | Director | ||||||||||||||||
Stephanie K. Mains | Director | ||||||||||||||||
Wilson S. Neely | Director | ||||||||||||||||
Alicia Tillman | Director | ||||||||||||||||
Molly P. Zhang | Director |
Name | Age | Position | |||||||||||||||
Cristin Bracken | Senior Vice President, Chief Legal Officer and Corporate Secretary | ||||||||||||||||
Grant Gawronski | Executive Vice President and Chief Commercial Officer | ||||||||||||||||
Walter Lifsey | Executive Vice President and Chief Operating Officer | ||||||||||||||||
L. Brooks Mallard | Executive Vice President and Chief Financial Officer | ||||||||||||||||
Thomas Pitstick | Chief Marketing Officer and Senior Vice President of Strategic Planning |
Name | ||||||||||
Ivo Jurek | Chief Executive Officer | |||||||||
L. Brooks Mallard | Chief Financial Officer | |||||||||
Grant Gawronski | Chief Commercial Officer | |||||||||
Walter Lifsey | Chief Operating Officer | |||||||||
Chief Marketing Officer and Senior Vice President of Strategic Planning |
Compensation Practice | ||||||||||
Pay-for-Performance | — The majority of the total executive direct compensation is variable and directly or indirectly tied to Company performance. — No incentive funding when Company performance on a metric does not meet threshold requirements for such metric under the annual short and long term incentive plans (relating to performance awards). — — Compensation Committee review of executive tally sheets reflecting all compensation components to ensure that compensation decisions are in line with the Company’s pay-for-performance philosophy. | |||||||||
Excellence on the Board | — Annual election of directors by majority vote. — Separation of Chair and Chief Executive Officer roles. — All members of Audit Committee are financial experts. | |||||||||
Robust Stock Ownership Guidelines | Stock ownership guidelines of 6x base salary for the Chief Executive Officer; 3x base salary for other executive officers and certain senior vice presidents; 4x cash retainer for directors. | |||||||||
Double Trigger Change in Control | Executive Change in Control Plan and, beginning in 2020, equity grants require both a change in control and a qualifying termination for accelerated vesting. | |||||||||
Strict Trading Policy; Anti-Hedging and Pledging Policies | Enforcement of a strict trading policy; no short sales or speculative trading, including no hedging or pledging of Company stock, by executives or directors. | |||||||||
Clawback Policy | Recovery of |
Tax Gross-Ups | No excise tax or income tax gross-ups (except in the event of relocation). | |||||||||
Employment Contracts | None of the current Named Executive Officers have an employment contract. | |||||||||
Retains an independent compensation consultant reporting directly to the Compensation Committee. |
Name | | | Base Salary ($) | | | Target Annual Plan Opportunity (% of Base Salary) | | | Target Annual Plan Opportunity ($) | | |||||||||
I. Jurek | | | | $ | 1,030,000 | | | | | | 150% | | | | | $ | 1,545,000 | | |
B. Mallard | | | | $ | 550,000 | | | | | | 85.25%* | | | | | $ | 468,852 | | |
R. Gaston | | | | $ | 420,000 | | | | | | 100% | | | | | $ | 420,000 | | |
G. Gawronski | | | | $ | 667,575 | | | | | | 100% | | | | | $ | 667,575 | | |
W. Lifsey | | | | $ | 669,231 | | | | | | 100% | | | | | $ | 669,231 | | |
D. Wisniewski | | | | $ | 397,838 | | | | | | 50% | | | | | $ | 198,919 | | |
Performance Measure | Description | |||||||||
Adjusted EBITDA (50%) | Adjusted EBITDA under the Annual Plan is defined in substantially the same manner as described in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Non-GAAP Measures,” of the | |||||||||
Free Cash Flow (30%) | Calculated as Adjusted EBITDA (as defined for purposes of the Annual Plan as described immediately above), less capital expenditures, plus or minus the change in trade working capital versus prior year. | |||||||||
Revenue (20%) | Revenue under the Annual Plan is defined as consolidated revenue as reflected in the Company’s financial statements, excluding the impacts of acquisitions made during the fiscal year. |
(dollars in millions) | Threshold | Target | Maximum | 2021 Attainment | Potential Funding | |||||||||||||||||||||||||||||||||||||||||||||
Measure | Weighting | $ | % | $ | % | |||||||||||||||||||||||||||||||||||||||||||||
Adjusted EBITDA | 50% | $ | 645.4 | $ | 679.4 | $ | 713.4 | $ | 738.5 | 108 | % | $ | 20.6 | 150 | % | |||||||||||||||||||||||||||||||||||
Free Cash Flow | 30% | $ | 481.1 | $ | 506.4 | $ | 531.7 | $ | 554.0 | 109 | % | $ | 12.4 | 150 | % | |||||||||||||||||||||||||||||||||||
Revenue* | 20% | $ | 3,013.1 | $ | 3,110.0 | $ | 3,195.1 | $ | 3,474.4 | 112 | % | $ | 8.3 | 150 | % |
(dollars in millions) | Adjusted Target (100% Funding) | 2021 Attainment Adjusted for FX | Potential Funding | |||||||||||||||||||||||||||||||||||||||||
Measure | Weighting | FX Impact | $ | % | $ | % | ||||||||||||||||||||||||||||||||||||||
Adjusted EBITDA | 50% | $ | 24.7 | $ | 704.1 | $ | 745.3 | 108 | % | 106 | % | $ | 20.6 | 150 | % | |||||||||||||||||||||||||||||
Free Cash Flow | 30% | $ | 24.7 | $ | 531.1 | $ | 563.5 | 106 | % | $ | 12.4 | 150 | % | |||||||||||||||||||||||||||||||
Revenue | 20% | $ | 95.2 | $ | 3,205.2 | $ | 3,512.7 | 110 | % | $ | 8.3 | 150 | % |
| | | | | | | | | Threshold (50% Funding for 95% of Target) | | | Target (100% Funding) | | | Maximum (150% Funding 105% of Target) | | | 2020 Attainment | | | |||||||||||||||||||||||
Measure | | | Weighting | | | (Dollars in Millions) | | | $ | | | % | | | Funding | | |||||||||||||||||||||||||||
Adjusted EBITDA | | | | | 50% | | | | | $ | 604.2 | | | | | $ | 636.0 | | | | | $ | 667.8 | | | | | $ | 506.6 | | | | | | 80 | | | | | $ | 0 | | |
Free Cash Flow | | | | | 30% | | | | | $ | 503.5 | | | | | $ | 530.0 | | | | | $ | 556.5 | | | | | $ | 446.9 | | | | | | 84 | | | | | $ | 0 | | |
Revenue* | | | | | 20% | | | | | $ | 3,029.4 | | | | | $ | 3,120.3 | | | | | $ | 3,200.0 | | | | | $ | 2,793.0 | | | | | | 90 | | | | | $ | 0 | | |
Name | Base Salary ($) | Target Annual Plan Opportunity (% of Base Salary) | Target Annual Plan Opportunity ($) | Individual Performance Factor (%) | Financial Performance Factor | 2021 Actual Payout | ||||||||||||||||||||||||||||||||
Ivo Jurek | $ | 1,055,750 | 150% | $ | 1,583,625 | 100 | % | 130 | % | $ | 2,058,713 | |||||||||||||||||||||||||||
Brooks Mallard | $ | 563,750 | 100% | $ | 563,750 | 103.85 | % | 130 | % | $ | 761,063 | |||||||||||||||||||||||||||
Grant Gawronski | $ | 684,264 | 100% | $ | 684,264 | 103.85 | % | 130 | % | $ | 923,757 | |||||||||||||||||||||||||||
Walt Lifsey | $ | 685,962 | 100% | $ | 685,962 | 100 | % | 130 | % | $ | 891,750 | |||||||||||||||||||||||||||
Tom Pitstick | $ | 444,528 | 75 | % | $ | 333,396 | 100 | % | 130 | % | $ | 433,415 |
Name | | | 2020 Special Award | | |||
I. Jurek | | | | $ | 1,545,000 | | |
B. Mallard | | | | $ | 468,852 | | |
R. Gaston | | | | $ | 399,000 | | |
G. Gawronski | | | | $ | 634,196 | | |
W. Lifsey | | | | $ | 669,231 | | |
D. Wisniewski | | | | $ | 188,973 | | |
Performance Measure | Description | |||||||||
Adjusted ROIC (50%) | 50% of PRSU value is calculated as (Adjusted | |||||||||
The financial measures used to determine Adjusted ROIC are calculated in accordance with U.S. GAAP as presented in the Company’s financial statements, except (i) Adjusted EBITDA is defined in substantially the same manner as described in “Item 7. Management’s Discussion and Analysis of Financial Condition and |
Results of Operations — Non-GAAP Measures” of the | ||||||||||
Relative TSR (50%) | 50% of PRSU value is based on the Company’s three-year relative TSR ranking against companies in the S&P 400 Capital Goods Industry |
Relative TSR Percentile Rank | Potential Payout Percentage | |||||||
75th Percentile or above | 200% | |||||||
50th Percentile | 100% | |||||||
25th Percentile | 50% | |||||||
Below 25th Percentile | - |
Plan | Description | |||||||||
Gates MatchMaker 401(k) Plan........... | A qualified defined contribution retirement benefit available to eligible U.S. employees (as defined in the plan document) that is intended to qualify as a profit sharing plan under Section 401(k) of the Internal Revenue Code of 1986, as amended from time to time (the “Code”). | |||||||||
Supplemental Retirement Plan............. | A funded, nonqualified plan that provides the Company’s executives, including Named Executive Officers, benefits similar to the Gates MatchMaker 401(k) Plan but without an employer match or the Code contribution and earnings limitations. |
Chief Executive Officer | 6 times base salary | ||||||||||||||||
Other Named Executive Officers | 3 times base salary |
| CEO total annual compensation | | | | $ | 7,680,120 | | |
| Median employee total annual compensation | | | | $ | 35,940 | | |
| Ratio | | | 214 to 1 | |
CEO total annual compensation | $ | 8,772,300 | ||||||
Median employee total annual compensation | $ | 39,583 | ||||||
Ratio | 222 to 1 |
Name and Principal Position | | | Year | | | Salary ($)(1) | | | Bonus ($)(2) | | | Stock Awards ($)(3) | | | Option Awards ($)(3) | | | Non-Equity Incentive Plan Compensation ($)(4) | | | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) | | | All Other Compensation ($)(5) | | | Total ($)(6) | | |||||||||||||||||||||||||||
Ivo Jurek | | | | | 2020 | | | | | $ | 1,063,962 | | | | | $ | 1,545,000 | | | | | $ | 3,827,542 | | | | | $ | 1,158,749 | | | | | | — | | | | | | — | | | | | $ | 84,867 | | | | | $ | 7,680,120 | | |
Chief Executive Officer | | | | | 2019 | | | | | $ | 989,635 | | | | | | — | | | | | $ | 3,350,070 | | | | | $ | 5,982,476 | | | | | | — | | | | | | — | | | | | $ | 164,509 | | | | | $ | 10,486,690 | | |
| | | | | 2018 | | | | | $ | 943,269 | | | | | | — | | | | | | — | | | | | | — | | | | | $ | 1,389,150 | | | | | | — | | | | | $ | 201,983 | | | | | $ | 2,534,402 | | |
L. Brooks Mallard | | | | | 2020 | | | | | $ | 465,385 | | | | | $ | 568,852 | | | | | $ | 745,450 | | | | | $ | 344,849 | | | | | | — | | | | | | — | | | | | $ | 102,331 | | | | | $ | 2,226,867 | | |
Chief Financial Officer | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
David Wisniewski, | | | | | 2020 | | | | | $ | 410,956 | | | | | $ | 188,973 | | | | | $ | 229,633 | | | | | $ | 105,029 | | | | | | — | | | | | | — | | | | | $ | 31,442 | | | | | $ | 966,033 | | |
Chief Financial Officer (interim) and Chief Accounting Officer | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
David Naemura, | | | | | 2020 | | | | | $ | 130,493 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | $ | 8,870 | | | | | $ | 139,363 | | |
Chief Financial Officer (former) | | | | | 2019 | | | | | $ | 624,851 | | | | | | — | | | | | $ | 1,029,035 | | | | | $ | 455,371 | | | | | | — | | | | | | — | | | | | $ | 89,871 | | | | | $ | 2,199,128 | | |
| | | 2018 | | | | | $ | 609,423 | | | | | | — | | | | | | — | | | | | | — | | | | | $ | 687,470 | | | | | | — | | | | | $ | 110,023 | | | | | $ | 1,406,916 | | | ||
Roger Gaston, | | | | | 2020 | | | | | $ | 432,385 | | | | | $ | 399,000 | | | | | $ | 469,713 | | | | | $ | 214,829 | | | | | | — | | | | | | — | | | | | $ | 37,467 | | | | | $ | 1,553,394 | | |
Chief Human Resources Officer | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Grant Gawronski, | | | | | 2020 | | | | | $ | 688,997 | | | | | $ | 634,196 | | | | | $ | 1,156,005 | | | | | $ | 528,715 | | | | | | — | | | | | | — | | | | | $ | 51,461 | | | | | $ | 3,059,374 | | |
Chief Commercial Officer | | | | | 2019 | | | | | $ | 636,519 | | | | | | — | | | | | $ | 1,152,394 | | | | | $ | 509,972 | | | | | | — | | | | | | — | | | | | $ | 74,818 | | | | | $ | 2,373,703 | | |
| | | | | 2018 | | | | | $ | 503,846 | | | | | | — | | | | | | — | | | | | $ | 1,700,600 | | | | | $ | 455,096 | | | | | | — | | | | | $ | 36,527 | | | | | $ | 2,696,069 | | |
Walt Lifsey, | | | | | 2020 | | | | | $ | 690,706 | | | | | $ | 669,231 | | | | | $ | 1,158,882 | | | | | $ | 530,030 | | | | | | — | | | | | | — | | | | | $ | 56,884 | | | | | $ | 3,105,733 | | |
Chief Operating Officer | | | | | 2019 | | | | | $ | 639,703 | | | | | | — | | | | | $ | 1,155,267 | | | | | $ | 511,237 | | | | | | — | | | | | | — | | | | | $ | 83,436 | | | | | $ | 2,389,643 | | |
| | | | | 2018 | | | | | $ | 607,640 | | | | | | — | | | | | | — | | | | | | — | | | | | $ | 567,300 | | | | | | — | | | | | $ | 96,532 | | | | | $ | 1,271,472 | | |
Name and Principal Position | Year | Salary ($)(1) | Bonus ($) | Stock Awards ($)(2) | Option Awards ($)(2) | Non-Equity Incentive Plan Compensation ($)(3) | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) | All Other Compensation(4)($) | Total | |||||||||||||||||||||||||||||||||||||||||||||||
Ivo Jurek | 2021 | $ | 1,051,392 | $ | — | $ | 4,204,468 | $ | 1,240,104 | $ | 2,058,713 | $ | — | $ | 217,623 | $ | 8,772,300 | |||||||||||||||||||||||||||||||||||||||
Chief Executive Officer | 2020 | $ | 1,063,962 | $ | 1,545,000 | $ | 3,827,542 | $ | 1,158,749 | $ | — | $ | — | $ | 84,867 | $ | 7,680,120 | |||||||||||||||||||||||||||||||||||||||
2019 | $ | 989,635 | $ | — | $ | 3,350,070 | $ | 5,982,476 | $ | — | $ | — | $ | 164,509 | $ | 10,486,690 | ||||||||||||||||||||||||||||||||||||||||
L. Brooks Mallard | 2021 | $ | 561,423 | $ | — | $ | 788,522 | $ | 353,326 | $ | 761,063 | $ | — | $ | 75,349 | $ | 2,539,683 | |||||||||||||||||||||||||||||||||||||||
Chief Financial Officer | 2020 | $ | 465,385 | $ | 568,852 | $ | 745,450 | $ | 344,849 | $ | — | $ | — | $ | 102,331 | $ | 2,226,867 | |||||||||||||||||||||||||||||||||||||||
Grant Gawronski | 2021 | $ | 681,440 | $ | — | $ | 1,208,953 | $ | 541,718 | $ | 923,757 | $ | — | $ | 90,821 | $ | 3,446,689 | |||||||||||||||||||||||||||||||||||||||
Chief Commercial Officer | 2020 | $ | 688,997 | $ | 634,196 | $ | 1,156,005 | $ | 528,715 | $ | — | $ | — | $ | 51,461 | $ | 3,059,374 | |||||||||||||||||||||||||||||||||||||||
2019 | $ | 636,519 | $ | — | $ | 1,152,394 | $ | 509,972 | $ | — | $ | — | $ | 74,818 | $ | 2,373,703 | ||||||||||||||||||||||||||||||||||||||||
Walt Lifsey | 2021 | $ | 683,131 | $ | — | $ | 1,211,973 | $ | 543,063 | $ | 891,750 | $ | — | $ | 96,582 | $ | 3,426,499 | |||||||||||||||||||||||||||||||||||||||
Chief Operating Officer | 2020 | $ | 690,706 | $ | 669,231 | $ | 1,158,882 | $ | 530,030 | $ | — | $ | — | $ | 56,884 | $ | 3,105,733 | |||||||||||||||||||||||||||||||||||||||
2019 | $ | 639,703 | $ | — | $ | 1,155,267 | $ | 511,237 | $ | — | $ | — | $ | 83,436 | $ | 2,389,643 | ||||||||||||||||||||||||||||||||||||||||
Tom Pitstick | 2021 | $ | 444,528 | $ | — | $ | 343,578 | $ | 153,966 | $ | 433,415 | $ | — | $ | 56,417 | $ | 1,431,904 | |||||||||||||||||||||||||||||||||||||||
Chief Marketing Officer |
Name | Company Contributions to Gates MatchMaker 401(k)(a) | Company Contributions to Gates Executive Supplemental Retirement Plan(b) | Other Benefits(c) | Total | ||||||||||||||||||||||
I. Jurek | $17,400 | $147,654 | $52,569 | $217,623 | ||||||||||||||||||||||
L. Mallard | $17,400 | $44,417 | $13,532 | $75,349 | ||||||||||||||||||||||
G. Gawronski | $17,400 | $61,540 | $11,881 | $90,821 | ||||||||||||||||||||||
W. Lifsey | $17,400 | $63,742 | $15,440 | $96,582 | ||||||||||||||||||||||
T. Pitstick | $17,400 | $31,276 | $7,741 | $56,417 |
Name | | | Company Contributions to Gates MatchMaker 401(k)(a) | | | Company Contributions to Gates Executive Supplemental Retirement Benefit Plan(b) | | | Relocation(c) | | | Tax Gross-ups(d) | | | Other Benefits(e) | | | Total | | ||||||||||||||||||
I. Jurek | | | | $ | 17,100 | | | | | $ | 46,738 | | | | | | — | | | | | | — | | | | | $ | 21,029 | | | | | $ | 84,867 | | |
L. Mallard | | | | $ | 17,100 | | | | | $ | 10,823 | | | | | $ | 46,335 | | | | | $ | 19,701 | | | | | $ | 8,372 | | | | | $ | 102,331 | | |
D. Wisniewski | | | | $ | 17,100 | | | | | $ | 7,557 | | | | | | — | | | | | | — | | | | | $ | 6,785 | | | | | $ | 31,442 | | |
D. Naemura | | | | $ | 5,075 | | | | | | — | | | | | | — | | | | | | — | | | | | $ | 3,795 | | | | | $ | 8,870 | | |
R. Gaston | | | | $ | 17,100 | | | | | $ | 8,843 | | | | | | — | | | | | | — | | | | | $ | 11,524 | | | | | $ | 37,467 | | |
G. Gawronski | | | | $ | 17,100 | | | | | $ | 24,240 | | | | | | — | | | | | | — | | | | | $ | 10,121 | | | | | $ | 51,461 | | |
W. Lifsey | | | | $ | 17,100 | | | | | $ | 24,342 | | | | | | — | | | | | | — | | | | | $ | 15,442 | | | | | $ | 56,884 | | |
| | | | | | Grant Date | | | Estimated Future Payouts under non-equity incentive plan awards ($) | | | Estimated Future Payouts under Equity incentive plan awards (#) | | | All other stock awards: number of shares of stock units (#) | | | All other option awards: number of securities underlying options (#) | | | Exercise or base price of option awards ($/sh) | | | Grant date fair value of stock and option awards ($) | | |||||||||||||||||||||||||||||||||||||||||||||
Name | | | Award Type | | | Threshold | | | Target | | | Max | | | Threshold | | | Target | | | Max | | ||||||||||||||||||||||||||||||||||||||||||||||||
I. Jurek | | | Annual Plan(1) | | | | | — | | | | | $ | 154,500 | | | | | $ | 1,545,000 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PRSU(2) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | 1,839 | | | | | | 183,928 | | | | | | 367,856 | | | | | | | | | | | | | | | | | | | | | | | $ | 2,668,795 | | |
| | | RSU(3) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 91,964 | | | | | | | | | | | | | | | | | $ | 1,158,746 | | |
| | | Options(4) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 241,406 | | | | | $ | 12.60 | | | | | $ | 1,158,749 | | |
| | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
L. Mallard | | | Annual Plan(1) | | | | | — | | | | | $ | 46,888 | | | | | $ | 468,875 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PRSU(2) | | | | | 2/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | 302 | | | | | | 30,212 | | | | | | 60,424 | | | | | | | | | | | | | | | | | | | | | | | $ | 400,611 | | |
| | | RSU(3) | | | | | 2/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 29,323 | | | | | | | | | | | | | | | | | $ | 344,838 | | |
| | | Options(4) | | | | | 2/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 76,294 | | | | | $ | 11.76 | | | | | $ | 344,849 | | |
| | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
D. Wisniewski | | | Annual Plan(1) | | | | | — | | | | | $ | 19,892 | | | | | $ | 198,919 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PRSU(2) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | 85 | | | | | | 8,588 | | | | | | 17,176 | | | | | | | | | | | | | | | | | | | | | | | $ | 124,612 | | |
| | | RSU(3) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 8,335 | | | | | | | | | | | | | | | | | $ | 105,021 | | |
| | | Options(4) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 21,881 | | | | | $ | 12.60 | | | | | $ | 105,029 | | |
| | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
R. Gaston | | | Annual Plan(1) | | | | | — | | | | | $ | 42,000 | | | | | $ | 420,000 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PRSU(2 | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | 175 | | | | | | 17,566 | | | | | | 35,132 | | | | | | | | | | | | | | | | | | | | | | | $ | 254,883 | | |
| | | RSU(3) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 17,050 | | | | | | | | | | | | | | | | | $ | 214,830 | | |
| | | Options(4) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 44,756 | | | | | $ | 12.60 | | | | | $ | 214,829 | | |
| | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
G. Gawronski | | | Annual Plan(1) | | | | | — | | | | | $ | 66,758 | | | | | $ | 667,575 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PRSU(2) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | 432 | | | | | | 43,232 | | | | | | 86,464 | | | | | | | | | | | | | | | | | | | | | | | $ | 627,296 | | |
| | | RSU(3) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 41,961 | | | | | | | | | | | | | | | | | $ | 528,709 | | |
| | | Options(4) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 110,149 | | | | | $ | 12.60 | | | | | $ | 528,715 | | |
| | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
W. Lifsey | | | Annual Plan(1) | | | | | — | | | | | $ | 66,923 | | | | | $ | 669,231 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PRSU(2) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | 433 | | | | | | 43,340 | | | | | | 86,680 | | | | | | | | | | | | | | | | | | | | | | | $ | 628,863 | | |
| | | RSU(3) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 42,065 | | | | | | | | | | | | | | | | | $ | 530,019 | | |
| | | Options(4) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 110,423 | | | | | $ | 12.60 | | | | | $ | 530,030 | | |
Estimated Future Payouts under non-equity incentive plan awards ($) | Estimated Future Payouts under Equity incentive plan awards (#) | All other stock awards: number of shares of stock units (#) | All other option awards: number of securities underlying options (#) | Exercise or base price of option awards ($/sh) | Grant date fair value of stock and option awards ($) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | Award Type | Grant Date | Threshold | Target | Max | Threshold | Target | Max | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I Jurek | Annual Plan(1) | — | $ | 158,363 | $ | 1,583,625 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PRSU(2) | 2/26/2021 | 41,350 | 165,400 | 330,800 | $ | 2,963,968 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSU(3) | 2/26/2021 | 82,700 | $ | 1,240,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options(4) | 2/26/2021 | 148,950 | $15.00 | $ | 992,007 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options(5) | 2/26/2021 | 39,009 | $16.50 | $ | 248,097 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
L. Mallard | Annual Plan(1) | — | $ | 56,375 | $ | 563,750 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PRSU(2) | 2/26/2021 | 6,070 | 24,278 | 48,556 | $ | 435,062 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSU(3) | 2/26/2021 | 23,564 | $ | 353,460 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options(4) | 2/26/2021 | 53,052 | $15.00 | $ | 353,326 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
G. Gawronski | Annual Plan(1) | — | $ | 68,426 | $ | 684,264 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PRSU(2) | 2/26/2021 | 9,306 | 37,222 | 74,444 | $ | 667,018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSU(3) | 2/26/2021 | 36,129 | $ | 541,935 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options(4) | 2/26/2021 | 81,339 | $15.00 | $ | 541,718 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
W. Lifsey | Annual Plan(1) | — | $ | 68,596 | $ | 685,962 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PRSU(2) | 2/26/2021 | 9,329 | 37,316 | 74,632 | $ | 668,703 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSU(3) | 2/26/2021 | 36,218 | $ | 543,270 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options(4) | 2/26/2021 | 81,541 | $15.00 | $ | 543,063 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
T. Pitstick | Annual Plan(1) | — | $ | 33,340 | $ | 333,396 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PRSU(2) | 2/26/2021 | 2,645 | 10,578 | 21,156 | $ | 189,558 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSU(3) | 2/26/2021 | 10,268 | $ | 154,020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options(4) | 2/26/2021 | 23,118 | $15.00 | $ | 153,966 |
| | | | | | Option Awards | | | Stock Awards | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
Name | | | Grant Date | | | Number of securities underlying unexercised options (#) exercisable | | | Number of securities underlying unexercised options (#) unexercisable | | | Equity Incentive Plan Awards: Number of securities underlying unexercised unearned options (#)(2) | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of shares or units of stock that have not vested (#)(3) | | | Market value of shares or units of stock that have not vested ($)(4) | | | Equity incentive plan awards: number of unearned shares, units or other rights that have not vested (#)(5) | | | Equity incentive plan awards: market or payout value of unearned shares, units or other rights that have not vested ($)(6) | | | |||||||||||||||||||||||||||||
I. Jurek | | | 5/18/2015 Tier I(1) | | | | | 1,017,239 | | | | | | — | | | | | | | | | | | $ | 6.56 | | | | | | 5/18/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 5/18/2015 Tier II | | | | | | | | | | | | | | | | | 1,017,239 | | | | | $ | 6.56 | | | | | | 5/18/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 5/18/2015 Tier III | | | | | | | | | | | | | | | | | 1,017,239 | | | | | $ | 6.56 | | | | | | 5/18/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 5/18/2015 Tier IV | | | | | | | | | | | | | | | | | 1,017,239 | | | | | $ | 9.84 | | | | | | 5/18/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 5/2/2017 Tier I(1) | | | | | 81,297 | | | | | | 54,199 | | | | | | | | | | | $ | 7.87 | | | | | | 5/2/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 5/2/2017 Tier II | | | | | | | | | | | | | | | | | 135,496 | | | | | $ | 7.87 | | | | | | 5/2/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 5/2/2017 Tier III | | | | | | | | | | | | | | | | | 135,496 | | | | | $ | 7.87 | | | | | | 5/2/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 5/2/2017 Tier IV | | | | | | | | | | | | | | | | | 135,496 | | | | | $ | 11.80 | | | | | | 5/2/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 2/22/2019 Options(7) | | | | | 84,040 | | | | | | 168,082 | | | | | | | | | | | $ | 16.46 | | | | | | 2/22/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 2/22/2019 Options(8) | | | | | — | | | | | | 796,460 | | | | | | | | | | | $ | 19.00 | | | | | | 2/22/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 2/22/2019 RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 60,146 | | | | | $ | 767,463 | | | | | | | | | | | | | | | | ||
| | | 2/22/2019 PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 24,167 | | | | | $ | 308,371 | | | | ||
| | | 2/21/2020 Options(9) | | | | | — | | | | | | 241,406 | | | | | | | | | | | $ | 12.60 | | | | | | 2/21/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/21/2020 RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 91,964 | | | | | $ | 1,173,461 | | | | | | | | | | | | | | | | ||
| | | 2/21/2020 PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 47,821 | | | | | $ | 610,196 | | | | ||
| | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
L. Mallard | | | 2/24/2020 Options(9) | | | | | — | | | | | | 76,294 | | | | | | | | | | | $ | 11.76 | | | | | | 2/24/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 2/24/2020 RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 29,323 | | | | | $ | 374,161 | | | | | | | | | | | | | | | | ||
| | | 2/24/2020 PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,855 | | | | | $ | 100,230 | | | | ||
| | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
D. Wisniewski | | | 4/9/2018 Options(10) | | | | | 9,750 | | | | | | 9,750 | | | | | | | | | | | $ | 16.54 | | | | | | 4/9/2028 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 4/9/2018 RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,779 | | | | | $ | 48,220 | | | | | | | | | | | | | | | | ||
| | | 2/22/2019 Options(7) | | | | | 5,409 | | | | | | 10,821 | | | | | | | | | | | $ | 16.46 | | | | | | 2/22/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 2/22/2019 RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,872 | | | | | $ | 49,407 | | | | | | | | | | | | | | | | ||
| | | 2/22/2019 PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,555 | | | | | $ | 19,835 | | | | ||
| | | 2/21/2020 Options(9) | | | | | — | | | | | | 21,881 | | | | | | | | | | | $ | 12.60 | | | | | | 2/21/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 2/21/2020 RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 8,335 | | | | | $ | 106,355 | | | | | | | | | | | | | | | | ||
| | | 2/21/2020 PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,232 | | | | | $ | 28,480 | | | | ||
| | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
R. Gaston | | | 8/8/2016 Tier I(1) | | | | | 54,198 | | | | | | 13,550 | | | | | | | | | | | $ | 6.56 | | | | | | 8/8/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 8/8/2016 Tier II | | | | | | | | | | | | | | | | | 67,748 | | | | | $ | 6.56 | | | | | | 8/8/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 8/8/2016 Tier III | | | | | | | | | | | | | | | | | 67,748 | | | | | $ | 6.56 | | | | | | 8/8/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 8/8/2016 Tier IV | | | | | | | | | | | | | | | | | 67,748 | | | | | $ | 9.84 | | | | | | 8/8/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||
Name | | | Grant Date | | | Number of securities underlying unexercised options (#) exercisable | | | Number of securities underlying unexercised options (#) unexercisable | | | Equity Incentive Plan Awards: Number of securities underlying unexercised unearned options (#)(2) | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of shares or units of stock that have not vested (#)(3) | | | Market value of shares or units of stock that have not vested ($)(4) | | | Equity incentive plan awards: number of unearned shares, units or other rights that have not vested (#)(5) | | | Equity incentive plan awards: market or payout value of unearned shares, units or other rights that have not vested ($)(6) | | |||||||||||||||||||||||||||
| | | 5/2/2017 Tier I(1) | | | | | 31,596 | | | | | | 21,065 | | | | | | | | | | | $ | 7.87 | | | | | | 5/2/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 5/2/2017 Tier II | | | | | | | | | | | | | | | | | 52,661 | | | | | $ | 7.87 | | | | | | 5/2/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 5/2/2017 Tier III | | | | | | | | | | | | | | | | | 52,661 | | | | | $ | 7.87 | | | | | | 5/2/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 5/2/2017 Tier IV | | | | | | | | | | | | | | | | | 52,661 | | | | | $ | 11.80 | | | | | | 5/2/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/22/2019 Options(7) | | | | | 11,578 | | | | | | 23,158 | | | | | | | | | | | $ | 16.46 | | | | | | 2/22/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/22/2019 RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 8,287 | | | | | $ | 105,742 | | | | | | | | | | | | | | |
| | | 2/22/2019 PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,329 | | | | | $ | 42,484 | | |
| | | 2/21/2020 Options(9) | | | | | — | | | | | | 44,756 | | | | | | | | | | | $ | 12.60 | | | | | | 2/21/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/21/2020 RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 17,050 | | | | | $ | 217,558 | | | | | | | | | | | | | | |
| | | 2/21/2020 PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,567 | | | | | $ | 58,269 | | |
G. Gawronski | | | 3/9/2018 Options(10) | | | | | 110,000 | | | | | | 110,000 | | | | | | | | | | | $ | 17.72 | | | | | | 3/9/2028 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/22/2019 Options(7) | | | | | 28,909 | | | | | | 57,821 | | | | | | | | | | | $ | 16.46 | | | | | | 2/22/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/22/2019 RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 20,691 | | | | | $ | 264,017 | | | | | | | | | | | | | | |
| | | 2/22/2019 PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 8,313 | | | | | $ | 106,068 | | |
| | | 2/21/2020 Options(9) | | | | | — | | | | | | 110,149 | | | | | | | | | | | $ | 12.60 | | | | | | 2/21/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/21/2020 RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 41,961 | | | | | $ | 535,422 | | | | | | | | | | | | | | |
| | | 2/21/2020 PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,240 | | | | | $ | 143,422 | | |
W. Lifsey | | | 8/24/2015 Tier I(1) | | | | | 250,668 | | | | | | — | | | | | | | | | | | $ | 6.56 | | | | | | 8/24/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 8/24/2015 Tier II | | | | | | | | | | | | | | | | | 250,668 | | | | | $ | 6.56 | | | | | | 8/24/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 8/24/2015 Tier III | | | | | | | | | | | | | | | | | 250,668 | | | | | $ | 6.56 | | | | | | 8/24/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 8/24/2015 Tier IV | | | | | | | | | | | | | | | | | 250,668 | | | | | $ | 9.84 | | | | | | 8/24/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 5/12/2016 Tier I(1) | | | | | 67,748 | | | | | | 16,937 | | | | | | | | | | | $ | 6.56 | | | | | | 5/12/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 5/12/2016 Tier II | | | | | | | | | | | | | | | | | 84,685 | | | | | $ | 6.56 | | | | | | 5/12/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 5/12/2016 Tier III | | | | | | | | | | | | | | | | | 84,685 | | | | | $ | 6.56 | | | | | | 5/12/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 5/12/2016 Tier IV | | | | | | | | | | | | | | | | | 84,685 | | | | | $ | 9.84 | | | | | | 5/12/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/22/2019 Options(7) | | | | | 28,981 | | | | | | 57,964 | | | | | | | | | | | $ | 16.46 | | | | | | 2/22/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/22/2019 RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 20,742 | | | | | $ | 264,668 | | | | | | | | | | | | | | |
| | | 2/22/2019 PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 8,334 | | | | | $ | 106,335 | | |
| | | 2/21/2020 Options(9) | | | | | — | | | | | | 110,423 | | | | | | | | | | | $ | 12.60 | | | | | | 2/21/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/21/2020 RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 42,065 | | | | | $ | 536,749 | | | | | | | | | | | | | | |
| | | 2/21/2020 PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,268 | | | | | $ | 143,780 | | |
Option Awards (*) | Stock Awards | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | Grant date and award type | Number of securities underlying unexercised options (#) exercisable | Number of securities underlying unexercised options (#) unexercisable | Equity Incentive Plan Awards: Number of securities underlying unexercised unearned options (#)(2) | Option Exercise Price ($) | Option Expiration Date | Number of shares or units of stock that have not vested (#)(3) | Market value of shares or units of stock that have not vested ($)(4) | Equity incentive plan awards: number of unearned shares, units or other rights that have not vested (#)(5) | Equity incentive plan awards: market or payout value of unearned shares, units or other rights that have not vested ($)(6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
I. Jurek | 5/18/2015 Tier I(1) | 1,017,239 | — | $6.56 | 5/18/2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/18/2015 Tier II | 1,017,239 | $6.56 | 5/18/2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/18/2015 Tier III | 1,017,239 | $6.56 | 5/18/2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/18/2015 Tier IV | 1,017,239 | $9.84 | 5/18/2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/2/2017 Tier I(1) | 108,397 | 27,099 | $7.87 | 5/2/2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/2/2017 Tier II | 135,496 | $7.87 | 5/2/2027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/2/2017 Tier III | 135,496 | $7.87 | 5/2/2027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/2/2017 Tier IV | 135,496 | $11.80 | 5/2/2027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 Options(7) | 168,081 | 84,041 | $16.46 | 2/22/2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 Options(8) | — | 796,460 | $19.00 | 2/22/2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 RSU | 30,073 | $ | 478,461 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 PRSU | 24,167 | $ | 384,497 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 Options(7) | 80,468 | 160,938 | $12.60 | 2/21/2030 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 RSU | 61,310 | $ | 975,442 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 PRSU | 47,821 | $ | 760,832 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 Options(7) | — | 148,950 | $15.00 | 2/26/2031 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 Options(9) | — | 39,009 | $16.50 | 2/26/2031 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 RSU | 82,700 | $ | 1,315,757 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 PRSU | 82,700 | $ | 1,315,757 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
L. Mallard | 2/24/2020 Options(7) | 25,431 | 50,863 | $11.76 | 2/24/2030 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/24/2020 RSU | 19,549 | $ | 311,025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/24/2020 PRSU | 7,855 | $ | 124,973 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 Options(7) | — | 53,052 | $15.00 | 2/26/2031 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 RSU | 23,564 | $ | 374,903 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 PRSU | 12,139 | $ | 193,131 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
G. Gawronski | 3/9/2018 Options(10) | 165,000 | 55,000 | $17.72 | 3/9/2028 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 Options(7) | 57,819 | 28,911 | $16.46 | 2/22/2029 |
Option Awards (*) | Stock Awards | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | Grant date and award type | Number of securities underlying unexercised options (#) exercisable | Number of securities underlying unexercised options (#) unexercisable | Equity Incentive Plan Awards: Number of securities underlying unexercised unearned options (#)(2) | Option Exercise Price ($) | Option Expiration Date | Number of shares or units of stock that have not vested (#)(3) | Market value of shares or units of stock that have not vested ($)(4) | Equity incentive plan awards: number of unearned shares, units or other rights that have not vested (#)(5) | Equity incentive plan awards: market or payout value of unearned shares, units or other rights that have not vested ($)(6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 RSU | 10,346 | $ | 164,605 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 PRSU | 8,313 | $ | 132,260 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 Options(7) | 36,716 | 73,433 | $12.60 | 2/21/2030 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 RSU | 27,975 | $ | 445,082 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 PRSU | 11,240 | $ | 178,828 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 Options(7) | — | 81,339 | $15.00 | 2/26/2031 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 RSU | 36,129 | $ | 574,812 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 PRSU | 18,611 | $ | 296,101 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
W. Lifsey | 8/24/2015 Tier I(1) | 250,668 | — | $6.56 | 8/24/2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8/24/2015 Tier II | 250,668 | $6.56 | 8/24/2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8/24/2015 Tier III | 250,668 | $6.56 | 8/24/2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8/24/2015 Tier IV | 250,668 | $9.84 | 8/24/2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/12/2016 Tier I(1) | 84,685 | — | $6.56 | 5/12/2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/12/2016 Tier II | 84,685 | $6.56 | 5/12/2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/12/2016 Tier III | 84,685 | $6.56 | 5/12/2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/12/2016 Tier IV | 84,685 | $9.84 | 5/12/2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 Options(7) | 57,963 | 28,982 | $16.46 | 2/22/2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 RSU | 10,371 | $ | 165,003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 PRSU | 8,334 | $ | 132,594 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 Options(7) | 36,807 | 73,616 | $12.60 | 2/21/2030 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 RSU | 28,044 | $ | 446,180 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 PRSU | 11,268 | $ | 179,274 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 Options(7) | — | 81,541 | $15.00 | 2/26/2031 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 RSU | 36,218 | $ | 576,228 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 PRSU | 18,658 | $ | 296,849 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
T. Pitstick | 1/11/2016 Tier I(1) | 84,685 | — | $6.56 | 1/11/2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1/11/2016 Tier II | 84,685 | $6.56 | 1/11/2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1/11/2016 Tier III | 84,685 | $6.56 | 1/11/2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1/11/2016 Tier IV | 84,685 | $9.84 | 1/11/2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/2/2017 Tier I(1) | 28,579 | 7,145 | $7.87 | 5/2/2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/2/2017 Tier II | 35,724 | $7.87 | 5/2/2027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/2/2017 Tier III | 35,724 | $7.87 | 5/2/2027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/2/2017 Tier IV | 35,724 | $11.80 | 5/2/2027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 Options(7) | 15,463 | 7,732 | $16.46 | 2/22/2029 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 RSU | 2,767 | $ | 44,023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 PRSU | 2,223 | $ | 35,368 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 Options(7) | 8,777 | 17,557 | $12.60 | 2/21/2030 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 RSU | 6,689 | $ | 106,422 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 PRSU | 2,687 | $ | 42,750 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 Options(7) | — | 23,118 | $15.00 | 2/26/2031 |
Option Awards (*) | Stock Awards | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | Grant date and award type | Number of securities underlying unexercised options (#) exercisable | Number of securities underlying unexercised options (#) unexercisable | Equity Incentive Plan Awards: Number of securities underlying unexercised unearned options (#)(2) | Option Exercise Price ($) | Option Expiration Date | Number of shares or units of stock that have not vested (#)(3) | Market value of shares or units of stock that have not vested ($)(4) | Equity incentive plan awards: number of unearned shares, units or other rights that have not vested (#)(5) | Equity incentive plan awards: market or payout value of unearned shares, units or other rights that have not vested ($)(6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 RSU | 10,268 | $ | 163,364 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 PRSU | 5,289 | $ | 84,148 |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||
Name | | | # of Shares Acquired on Exercise (#) | | | Value Realized on Exercise ($)(1) | | | # of Shares or Units Acquired on Vesting (#) | | | Value Realized on Vesting ($)(2) | | ||||||||||||
I. Jurek | | | | | — | | | | | | — | | | | | | 30,072 | | | | | $ | 378,907 | | |
L. Mallard | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
D. Wisniewski | | | | | — | | | | | | — | | | | | | 3,824 | | | | | $ | 39,096(3) | | |
D. Naemura | | | | | 297,542 | | | | | $ | 1,874,505 | | | | | | — | | | | | | — | | |
R. Gaston | | | | | — | | | | | | — | | | | | | 4,143 | | | | | $ | 52,202 | | |
G. Gawronski | | | | | — | | | | | | — | | | | | | 35,776 | | | | | $ | 455,610(4) | | |
W. Lifsey | | | | | — | | | | | | — | | | | | | 10,370 | | | | | $ | 130,662 | | |
Option Awards | Stock Awards | |||||||||||||||||||||||||
Name | Shares Acquired on Exercise (#) | Value Realized on Exercise ($) | Shares or Units Acquired on Vesting (#) | Value Realized on Vesting ($)(1) | ||||||||||||||||||||||
I. Jurek | — | $ | — | 60,727 | $ | 1,031,752 | ||||||||||||||||||||
L. Mallard | — | $ | — | 9,774 | $ | 174,661 | ||||||||||||||||||||
G. Gawronski | — | $ | — | 24,331 | $ | 413,384 | ||||||||||||||||||||
W. Lifsey | — | $ | — | 24,392 | $ | 414,420 | ||||||||||||||||||||
T. Pitstick | — | $ | — | 6,110 | $ | 103,809 |
Name | | | Executive Contributions in Last FY ($)(1) | | | Registrant Contributions in Last FY ($)(2) | | | Aggregate Earnings (Losses) in Last FY ($)(3) | | | Aggregate Withdrawals/ Distributions ($) | | | Aggregate Balance at Last FYE ($)(4) | | |||||||||||||||
I. Jurek | | | | | — | | | | | | 46,738 | | | | | | 164,095 | | | | | | — | | | | | | 1,213,305 | | |
L. Mallard | | | | | — | | | | | | 10,823 | | | | | | — | | | | | | — | | | | | | 10,823 | | |
D. Wisniewski | | | | | — | | | | | | 7,557 | | | | | | 3,973 | | | | | | — | | | | | | 28,690 | | |
D. Naemura | | | | | — | | | | | | — | | | | | | 10,330 | | | | | | (307,447) | | | | | | — | | |
R. Gaston | | | | | 99,750 | | | | | | 8,843 | | | | | | 17,743 | | | | | | — | | | | | | 279,767 | | |
G. Gawronski | | | | | 241,229 | | | | | | 24,240 | | | | | | 32,208 | | | | | | — | | | | | | 430,748 | | |
W. Lifsey | | | | | — | | | | | | 24,342 | | | | | | 34,556 | | | | | | — | | | | | | 292,496 | | |
Name | Executive Contributions in Last FY(1) | Registrant Contributions in Last FY(2) | Aggregate Earnings (Losses) in Last FY ($)(3) | Aggregate Withdrawals/ Distributions ($) | Aggregate Balance at Last FYE ($)(4) | |||||||||||||||||||||||||||
I. Jurek | $ | — | $ | 147,654 | $ | 167,558 | $ | — | $ | 1,528,517 | ||||||||||||||||||||||
L. Mallard | $ | — | $ | 44,416 | $ | 1 | $ | — | $ | 55,240 | ||||||||||||||||||||||
G. Gawronski | $ | 312,716 | $ | 61,540 | $ | 49,151 | $ | — | $ | 854,155 | ||||||||||||||||||||||
W. Lifsey | $ | — | $ | 63,742 | $ | 33,651 | $ | — | $ | 389,889 | ||||||||||||||||||||||
T. Pitstick | $ | — | $ | 31,276 | $ | 18,013 | $ | — | $ | 164,764 |
Date of Good Leaver Termination | | Specified Portion (Jurek and Lifsey) | | Specified Portion (Gaston) | | Date of Good Leaver Termination | Specified Portion (Jurek and Lifsey) | Specified Portion (Pitstick) | |||||||||||||||||||
Prior to the first anniversary of the date of grant/vesting reference date | | | | 20% | | | | | 0% | | | Prior to the first anniversary of the date of grant/vesting reference date | 20% | 0% | |||||||||||||
On or after the first anniversary of the date of grant/vesting reference date and prior to the second anniversary of the date of grant/vesting reference date | | | | 40% | | | | | 20% | | | On or after the first anniversary of the date of grant/vesting reference date and prior to the second anniversary of the date of grant/vesting reference date | 40% | 20% | |||||||||||||
On or after the second anniversary of the date of grant/vesting reference date and prior to the third anniversary of the date of grant/vesting reference date | | | | 60% | | | | | 40% | | | On or after the second anniversary of the date of grant/vesting reference date and prior to the third anniversary of the date of grant/vesting reference date | 60% | 40% | |||||||||||||
On or after the third anniversary of the date of grant/vesting reference date and prior to the fourth anniversary of the date of grant/vesting reference date | | | | 80% | | | | | 60% | | | On or after the third anniversary of the date of grant/vesting reference date and prior to the fourth anniversary of the date of grant/vesting reference date | 80% | 60% | |||||||||||||
On or after the fourth anniversary of the date of grant/vesting reference date and prior to the fifth anniversary of the date of grant/vesting reference date | | | | 100% | | | | | 80% | | | On or after the fourth anniversary of the date of grant/vesting reference date and prior to the fifth anniversary of the date of grant/vesting reference date | 100% | 80% | |||||||||||||
On or after the fifth anniversary of the date of grant/vesting reference date | | | | | | | | | 100% | | | On or after the fifth anniversary of the date of grant/vesting reference date | 100% |
| | | I. Jurek | | | L. Mallard | | | D. Wisniewski | | | R. Gaston | | | G. Gawronski | | | W. Lifsey | | ||||||||||||||||||
Termination – Disability or Death | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash Severance Payments(1) | | | | $ | 79,231 | | | | | $ | 42,308 | | | | | $ | 30,603 | | | | | $ | 32,308 | | | | | $ | 51,352 | | | | | $ | 51,479 | | |
Equity Awards(2) | | | | $ | 5,645,056 | | | | | $ | 835,961 | | | | | $ | 393,396 | | | | | $ | 905,026 | | | | | $ | 1,776,692 | | | | | $ | 1,886,122 | | |
Total | | | | $ | 5,724,287 | | | | | $ | 878,269 | | | | | $ | 423,999 | | | | | $ | 937,334 | | | | | $ | 1,828,044 | | | | | $ | 1,937,601 | | |
Termination – By the Company without Cause | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash Severance Payments(3) | | | | $ | 2,139,231 | | | | | $ | 1,142,308 | | | | | $ | 428,441 | | | | | $ | 872,308 | | | | | $ | 1,386,502 | | | | | $ | 1,389,941 | | |
Health Plan Continuation(4) | | | | $ | 25,503 | | | | | $ | 21,024 | | | | | $ | 12,752 | | | | | $ | 25,503 | | | | | $ | 25,503 | | | | | $ | 14,510 | | |
Outplacement(5) | | | | $ | 8,000 | | | | | $ | 8,000 | | | | | $ | 8,000 | | | | | $ | 8,000 | | | | | $ | 8,000 | | | | | $ | 8,000 | | |
Equity Awards(2) | | | | $ | 132,519 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 187,018 | | | | | $ | 0 | | | | | $ | 105,009 | | |
Total | | | | $ | 2,305,253 | | | | | $ | 1,171,332 | | | | | $ | 449,193 | | | | | $ | 1,092,829 | | | | | $ | 1,420,005 | | | | | $ | 1,517,460 | | |
Change in Control – (with Termination) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash Severance Payments(6) | | | | $ | 8,061,731 | | | | | $ | 2,039,439 | | | | | $ | 826,279 | | | | | $ | 1,712,308 | | | | | $ | 2,721,652 | | | | | $ | 2,728,403 | | |
Health Plan Continuation(4) | | | | $ | 82,510 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 62,605 | | | | | $ | 62,098 | | |
Outplacement(5) | | | | $ | 8,000 | | | | | $ | 8,000 | | | | | $ | 8,000 | | | | | $ | 8,000 | | | | | $ | 8,000 | | | | | $ | 8,000 | | |
Equity Awards(2) | | | | $ | 5,777,570 | | | | | $ | 835,961 | | | | | $ | 393,396 | | | | | $ | 905,026 | | | | | $ | 1,776,692 | | | | | $ | 1,886,122 | | |
Total | | | | $ | 13,929,811 | | | | | $ | 2,883,400 | | | | | $ | 1,227,675 | | | | | $ | 2,625,334 | | | | | $ | 4,568,949 | | | | | $ | 4,684,623 | | |
Change in Control – (without Termination) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Equity Awards(2) | | | | $ | 4,565,485 | | | | | $ | 385,505 | | | | | $ | 283,540 | | | | | $ | 680,307 | | | | | $ | 1,223,646 | | | | | $ | 1,331,705 | | |
Total | | | | $ | 4,565,485 | | | | | $ | 385,505 | | | | | $ | 283,540 | | | | | $ | 680,307 | | | | | $ | 1,223,646 | | | | | $ | 1,331,705 | | |
I. Jurek | L. Mallard | G. Gawronski | W. Lifsey | T. Pitstick | ||||||||||||||||||||||||||||
Termination – Disability or Death | ||||||||||||||||||||||||||||||||
Cash Severance Payments(1) | $ | 1,583,625 | $ | 563,750 | $ | 684,264 | $ | 685,962 | $ | 333,396 | ||||||||||||||||||||||
Equity Awards(2) | 10,692,461 | 1,812,223 | 3,290,311 | 3,298,498 | 919,178 | |||||||||||||||||||||||||||
Total | $ | 12,276,086 | $ | 2,375,973 | $ | 3,974,575 | $ | 3,984,460 | $ | 1,252,574 | ||||||||||||||||||||||
Termination – By the Company without Cause | ||||||||||||||||||||||||||||||||
Cash Severance Payments(3) | $ | 3,695,125 | $ | 1,691,250 | $ | 2,052,793 | $ | 2,057,885 | $ | 777,924 | ||||||||||||||||||||||
Health Plan Continuation(4) | 25,456 | 20,977 | 25,456 | 7,991 | 25,456 | |||||||||||||||||||||||||||
Outplacement(5) | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | |||||||||||||||||||||||||||
Equity Awards(2) | 217,876 | — | — | — | — | |||||||||||||||||||||||||||
Total | $ | 3,946,457 | $ | 1,720,227 | $ | 2,086,249 | $ | 2,073,876 | $ | 811,380 | ||||||||||||||||||||||
Change in Control – (with Termination) | ||||||||||||||||||||||||||||||||
Cash Severance Payments(6) | $ | 6,598,438 | $ | 2,255,000 | $ | 2,737,058 | $ | 2,743,847 | $ | 333,396 | ||||||||||||||||||||||
Health Plan Continuation(4) | 68,360 | 54,346 | 51,544 | 25,851 | 48,400 | |||||||||||||||||||||||||||
Outplacement(5) | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | |||||||||||||||||||||||||||
Equity Awards(2) | 10,692,461 | 1,812,223 | 3,290,311 | 3,298,498 | 919,178 | |||||||||||||||||||||||||||
Total | $ | 17,367,259 | $ | 4,129,569 | $ | 6,086,913 | $ | 6,076,196 | $ | 1,308,974 | ||||||||||||||||||||||
Change in Control – (without Termination) | ||||||||||||||||||||||||||||||||
Equity Awards(2) | $ | 7,733,012 | $ | 866,936 | $ | 1,953,334 | $ | 1,958,219 | $ | 570,241 | ||||||||||||||||||||||
Total | $ | 7,733,012 | $ | 866,936 | $ | 1,953,334 | $ | 1,958,219 | $ | 570,241 |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Role | | | Annual Cash Retainers Chair | | |||
Chair, Audit Committee | | | | $ | 25,000 | | |
Chair, Compensation Committee | | | | $ | 10,000 | | |
Chair, Nominating and Governance Committee | | | | $ | 10,000 | | |
Role | Additional Annual Cash Retainer | |||||||
Chair, Audit Committee | $ | 25,000 | ||||||
Chair, Compensation Committee | $ | 10,000 | ||||||
Chair, Nominating and Governance Committee | $ | 10,000 |
Name | | | Fees Earned or Paid in Cash ($)(1) | | | Stock Awards ($)(2) | | | Option Awards ($)(3) | | | Total ($) | | ||||||||||||
J. Ireland | | | | $ | 100,000 | | | | | $ | 124,992 | | | | | | — | | | | | $ | 224,992 | | |
T. Klebe | | | | $ | 125,000(4) | | | | | $ | 124,992 | | | | | | — | | | | | $ | 249,992 | | |
S. Mains | | | | $ | 100,000 | | | | | $ | 124,992 | | | | | | — | | | | | $ | 224,992 | | |
W. Neely | | | | $ | 74,176 | | | | | $ | 124,999 | | | | | | — | | | | | $ | 199,175 | | |
Name | Fees Earned or Paid in Cash ($) (1) | Stock Awards ($) (2) | Option Awards ($) (3) | Total ($) | ||||||||||||||||||||||
J. Ireland | $ | 100,000 | $ | 124,995 | $ | — | $ | 224,995 | ||||||||||||||||||
T. Klebe | $ | 125,000 | $ | 124,995 | $ | — | $ | 249,995 | ||||||||||||||||||
S. Mains | $ | 100,000 | $ | 124,995 | $ | — | $ | 224,995 | ||||||||||||||||||
W. Neely | $ | 100,000 | $ | 124,995 | $ | — | $ | 224,995 | ||||||||||||||||||
M. Zhang | $ | 100,000 | $ | 124,995 | $ | — | $ | 224,995 | ||||||||||||||||||
A. Tillman | $ | 68,681 | $ | 124,985 | $ | — | $ | 193,666 | ||||||||||||||||||
J. Kahr | $ | 18,737 | $ | 124,985 | $ | — | $ | 143,722 | ||||||||||||||||||
N. Simpkins | $ | — | $ | — | $ | — | $ | — |
Name | | | Fees Earned or Paid in Cash ($)(1) | | | Stock Awards ($)(2) | | | Option Awards ($)(3) | | | Total ($) | | ||||||||||||
M. Zhang | | | | $ | 49,176 | | | | | $ | 124,994 | | | | | | — | | | | | $ | 174,170 | | |
D. Calhoun | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
J. Kahr | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
N. Simpkins | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
(dollars in millions) | | | Fiscal 2020 | | | Fiscal 2019 | | ||||||
Audit Fees(1) | | | | $ | 4.9 | | | | | $ | 4.4 | | |
Audit-Related Fees(2) | | | | | 0.1 | | | | | | 0.3 | | |
Tax Fees(3) | | | | | 0.2 | | | | | | 0.3 | | |
All Other Fees(4) | | | | | — | | | | | | 0.1 | | |
Total | | | | $ | 5.2 | | | | | $ | 5.1 | | |
(dollars in millions) | Fiscal 2021 | Fiscal 2020 | ||||||||||||
Audit Fees(1) | $ | 4.6 | $ | 4.9 | ||||||||||
Audit-Related Fees(2) | 0.4 | 0.1 | ||||||||||||
Tax Fees(3) | 0.4 | 0.2 | ||||||||||||
All Other Fees | — | — | ||||||||||||
Total | $ | 5.4 | $ | 5.2 |
| | | Ordinary Shares Beneficially Owned | | |||||||||
Name of Beneficial Owner | | | Number | | | % | | ||||||
5% or greater shareholders: | | | | | | | | | | | | | |
Blackstone(1) | | | | | 221,087,590 | | | | | | 75.8% | | |
Directors and named executive officers: | | | | | | | | | | | | | |
James W. Ireland, III(2) | | | | | 22,435 | | | | | | * | | |
Ivo Jurek(3) | | | | | 1,617,109 | | | | | | * | | |
Julia C. Kahr(4) | | | | | — | | | | | | * | | |
Terry Klebe(2)(5) | | | | | 133,681 | | | | | | * | | |
Stephanie K. Mains(2) | | | | | 16,119 | | | | | | * | | |
Wilson S. Neely(2) | | | | | 17,845 | | | | | | * | | |
Neil P. Simpkins(6) | | | | | — | | | | | | * | | |
Alicia Tillman(2) | | | | | — | | | | | | * | | |
Molly P. Zhang(2) | | | | | — | | | | | | * | | |
Roger Gaston(7) | | | | | 157,742 | | | | | | * | | |
Grant Gawronski(8) | | | | | 367,230 | | | | | | * | | |
Walt Lifsey(9) | | | | | 530,800 | | | | | | * | | |
L. Brooks Mallard(10) | | | | | 32,202 | | | | | | * | | |
David H. Naemura | | | | | — | | | | | | * | | |
David Wisniewski(11) | | | | | 41,147 | | | | | | * | | |
Directors and executive officers as a group (17 persons)(12) | | | | | 3,113,281 | | | | | | * | | |
Ordinary Shares Beneficially Owned | ||||||||||||||
Name of Beneficial Owner | Number | % | ||||||||||||
5% or greater shareholders: | ||||||||||||||
Blackstone(1) | 178,587,591 | 61.67% | ||||||||||||
Directors and Named Executive Officers: | ||||||||||||||
James W. Ireland, III(2) | 30,762 | * | ||||||||||||
Ivo Jurek(3) | 4,521,084 | 1.56% | ||||||||||||
Julia C. Kahr(2) | — | * | ||||||||||||
Terry Klebe(2)(4) | 142,008 | * | ||||||||||||
Stephanie K. Mains(2) | 16,119 | * | ||||||||||||
Wilson S. Neely(2) | 26,172 | * | ||||||||||||
Neil P. Simpkins(5) | — | * | ||||||||||||
Alicia Tillman(2) | — | * | ||||||||||||
Molly P. Zhang(2)(6) | — | * | ||||||||||||
Grant Gawronski(7) | 551,520 | * | ||||||||||||
Walt Lifsey(8) | 1,329,420 | * | ||||||||||||
L. Brooks Mallard(9) | 87,815 | * | ||||||||||||
Tom Pitstick(10) | 198,935 | * | ||||||||||||
Directors and executive officers as a group (14 persons)(11) | 6,962,099 | 2.40% |
Compensation Component | Purpose / Link to Gates’s Business Strategy | How Component Operates | Maximum Opportunity | Recovery or withholding | ||||||||||||||||||||||
Base Salary | –Attract and retain high-performing individuals. –Reflect an individual’s skills, experience and performance. –Align with market value of role. | The base salary for the Executive Director is determined by the Compensation Committee after consideration of a number of factors, including: (1) the breadth, scope and complexity of his role; (2) internal equity; (3) current compensation; (4) tenure in position and prior tenure in related roles (excepting Gates); (5) market pay levels; and (6) individual performance. | There is no prescribed maximum to base salary. Increases may be made when the Compensation Committee considers it appropriate, including when there is a significant increase in the scale, scope, responsibilities or market comparability of the role. | None. | ||||||||||||||||||||||
The Compensation Committee annually reviews the Executive Director’s base salary and approves any changes to the Executive Director’s compensation package in light of such review. The Executive Director does not participate in deliberations regarding his own compensation. | ||||||||||||||||||||||||||
Annual Cash Bonus (a short-term incentive tied to the Company’s annual financial performance) | –Attract and retain high-performing individuals. –Drive key business results. –Advance profitability. | The Executive Director participates in the Gates Global Bonus Policy (the “Annual Plan”) which is designed to (1) reward achievement of specific performance goals that advance the Company’s profitability; (2) drive key business results; and (3) recognize individuals based on their contributions to those results. Payouts under the Annual Plan are based on a combination of the achievement of the Company’s financial performance goals for the fiscal year (the “Gates Financial Performance Factor”), and the Executive Director’s performance against his individual performance goals (the “Individual Performance Factor”). | There is no maximum on the Annual Plan as the Compensation Committee has the ability to exercise discretion to vary the amount determined by the formula if, in the exercise of its business judgment, it determines that a greater or lesser amount is warranted under the circumstances. | Subject to clawback in accordance with Gates’ Incentive Clawback Policy (as described in the notes to this Future Policy Table). |
Compensation Component | Purpose / Link to Gates’s Business Strategy | How Component Operates | Maximum Opportunity | Recovery or withholding | ||||||||||||||||||||||
Notwithstanding the establishment of the performance components and the formula for determining the attainment levels as described above, the Compensation Committee has the ability to exercise positive or negative discretion and award a greater or lesser amount to fund the Annual Plan than the amount determined by the formula described below if, in the exercise of its business judgment, the Compensation Committee determines that a greater or lesser amount is warranted under the circumstances. Gates Financial Performance Factor. The Gates Financial Performance Factor determines the quantum of the Annual Plan. The Compensation Committee retains discretion to determine the financial performance measures and their relative contribution weighting, to calculate the Gates Financial Performance Factor, applying measures which are assessed as critical indicators of the Company’s performance and which, when combined, contribute to sustainable growth.For financial year 2022, the financial performance measures are: Adjusted EBITDA (50%), Free Cash Flow (30%) and Revenue (20%). After the Gates Financial Performance Factor is calculated and the “pool” is set to fund bonus payouts, a proportion of the pool is allocated to the Executive Director as determined by the Compensation Committee based on the Company’s performance against the Financial Measures as applied at the discretion of the Compensation Committee. Individual Performance Factor. The Executive Director’s Individual Performance Factor is determined based on both financial and non-financial objectives appropriate for his position. |
Compensation Component | Purpose / Link to Gates’s Business Strategy | How Component Operates | Maximum Opportunity | Recovery or withholding | ||||||||||||||||||||||
Actual amounts paid under the Annual Plan are calculated by multiplying for each fiscal year the Executive Director’s base salary at the end of the fiscal year by (i) his Annual Plan target bonus opportunity (which is reflected as a percentage of base salary), (ii) the final Gates Financial Performance Factor and (iii) the Individual Performance Factor. | ||||||||||||||||||||||||||
Long Term Equity Incentive (a long-term incentive opportunity) | –Attract and retain high-performing individuals. –Incentivize long-term business performance and promote retention. –Ensure long-term compensation is directly linked to the value that is delivered to the shareholders. | In connection with the IPO, the Company adopted the Gates Industrial Corporation plc 2018 Omnibus Incentive Plan (the “2018 Omnibus Incentive Plan”), a market-based long-term incentive program which allows for awards of a mix of performance shares, share options and restricted shares. For 2022, the Compensation Committee approved a new annual award for the Executive Director under the 2018 Omnibus Incentive Plan consisting 50% RSUs and 50% PRSUs. The RSUs will vest in equal annual installments on the first three anniversaries of the grant date, subject to the Executive Director’s continued employment through the applicable vesting date. The PRSUs will vest upon completion of the three year performance period (2022 - 2024) and will be paid after certification of the performance results by the Compensation Committee. The Compensation Committee may make future grants, and may revise the equity mix and vesting schedule for future grants as permitted under and in accordance with the 2018 Omnibus Incentive Plan. | PRSUs have a maximum payout opportunity of 200% of the target. PRSUs have a minimum payout (assuming threshold attainment) of 50% of the target. There is no maximum opportunity for the RSUs or options. | Subject to clawback in accordance with Gates’ Incentive Clawback Policy described elsewhere in this report. | ||||||||||||||||||||||
Retirement Benefits | –Attract and retain high-performing individuals. –Align with market value of role. –Provide mechanism to accumulate retirement benefits. | Gates MatchMaker 401(k) Plan The Executive Director is eligible to participate in a qualified defined contribution retirement benefit plan that provides him with an individual retirement account funded by (1) an automatic Gates-paid contribution of 3% of eligible earnings, and (2) a Gates-paid match on employee contributions dollar-for-dollar on the first 3% of eligible earnings that he contributes. | Gates MatchMaker 401(k) Plan Maximum of 6% of eligible earnings. | None. | ||||||||||||||||||||||
Compensation Component | Purpose / Link to Gates’s Business Strategy | How Component Operates | Maximum Opportunity | Recovery or withholding | ||||||||||||||||||||||
Supplemental Retirement Plan The Company offers a non-qualified plan that provides the Executive Director with benefits similar to the Gates MatchMaker 401(k) Plan (see above) but without an employer matched contribution, and which is not subject to statutory employer contributions and earnings limitations applicable to a 401(k) plan. | 1.6% of eligible earnings that exceed certain statutory limits. 2.Deferral of up to 80% of base salary and bonus into the plan. | None. | ||||||||||||||||||||||||
This plan provides the Executive Director with two benefit opportunities: 1.Non-elective employer contribution. A 6% employer contribution (the “Retirement Contribution”) on eligible earnings that exceed certain statutory limits. 2.Compensation Deferral Opportunity. The Supplemental Retirement Plan permits the Executive Director to defer up to 80% of his base salary and 80% of bonus compensation into the plan, which is then subject to tax when withdrawn from the plan. | ||||||||||||||||||||||||||
Other Benefits | –Attract and retain high-performing individuals. –Align with market value of role. | The additional benefits for the Executive Director generally consist of a parking subsidy, tax return preparation services, an executive annual physical examination, and certain limited personal use of an airplane leased by the Company pursuant to a fractional lease program. Tax gross-ups to compensate the Executive Director for tax suffered on certain relocation benefits are also provided. | 1.Parking maximum is up to the actual cost of 12 months of parking. The current applicable annual rate for parking is $3,900. 2.Executive physical: no maximum. 3.Tax preparation: no maximum. 4.Preapproval of up to 25 flight hours for personal use. All “Other Benefits” are subject to periodic review. | None. | ||||||||||||||||||||||
Other benefits, such as medical, dental and short-term disability coverage may be provided to the Executive Director, identical to the benefits provided to all other eligible U.S.-based employees. The Executive Director may also receive enhanced benefits that are not available to other employees, such as relocation assistance and enhanced life, accidental death and dismemberment (“AD&D”) and long-term disability insurance benefits. | The Executive Director is currently eligible for enhanced life and AD&D insurance benefits of 3x base salary up to $3,000,000. | None. | ||||||||||||||||||||||||
Compensation Component | Purpose / Link to Gates’s Business Strategy | How Component Operates | Maximum Opportunity | Recovery or withholding | ||||||||||||||||||||||
An individual disability insurance plan is offered to the Executive Director. | This plan provides for a monthly disability payment upon the occurrence of a qualifying event. This benefit is subject to periodic review. | None. | ||||||||||||||||||||||||
Change in Control and Severance Benefits | –Attract and retain high-performing individuals. –Allows individuals to perform their duties with respect to any potential proposed corporate transaction without concern for the impact of the transaction on their individual employment. –The interests of shareholders are better protected and enhanced by providing greater certainty regarding executive pay obligations in the context of planning and negotiating any potential corporate transactions. | Severance Benefits The Executive Severance Plan provides for severance payments upon certain termination of employment events to the Executive Director. The Executive Severance Plan also provides for reimbursement for reasonable outplacement as well as health and dental benefit continuation assistance. | Severance Benefits The Executive Director is provided with (i) salary continuation payments in an amount equal to the sum of two times base salary and two times previous year bonus, (ii) the annual bonus under the Annual Plan as earned (without the adjustment for the Individual Performance Factor) for the year in which the separation occurs (pro-rated for days of service during the fiscal year), (iii) cash payments in an amount equal to the total amount of Gates’ portion of the monthly insurance premiums for participation in the health and dental programs in which the Executive Director participated in payable for 24 months, and (iv) reimbursement for reasonable outplacement services incurred during a six consecutive month period. This is subject to periodic review. | None. | ||||||||||||||||||||||
Change of Control Benefits The Executive Change in Control Plan provides for payments to the Executive Director in the event of a “change of control” of Gates and a qualifying termination. The Executive Change in Control Plan provides for reimbursement for reasonable outplacement as well as health and dental benefit continuation assistance. | Change of Control Benefits In the event of a “change in control” of Gates and a qualifying termination, the Executive Director is provided with (i) payments in the amount of two and a half times base salary plus target bonus, (ii) the annual bonus under the Annual Plan as earned (without the adjustment for the Individual Performance Factor) for the year in which the separation occurs (pro-rated for days of service during the fiscal year), (iii) cash payments in an amount equal to the total amount of Gates’ portion of the monthly insurance premiums for participation in the health and dental programs in which the Executive Director participated in payable for 30 months, and (iv) reimbursement for reasonable outplacement services incurred during a six consecutive month period. This is subject to periodic review. | None. |
Compensation Component | Purpose / Link to Gates’s Business Strategy | How Component Operates | Maximum Opportunity | Recovery or withholding | ||||||||||||||||||||||
Discretionary Bonuses | –Retain high-performing individuals. –Align with market value of role. | From time to time, the Executive Director may receive a discretionary bonus. | There is no maximum discretionary bonus. A bonus may be awarded above this level where the Compensation Committee considers it appropriate including (but not limited to) a significant improvement in the performance of the Company and its subsidiaries (the “Group”). | Potential for clawback if the Executive Director voluntarily terminates within a specified period of time of receiving payment. |
Compensation Component | Purpose / Link to Gates’s Business Strategy | How Component Operates | Maximum Opportunity | Recovery or withholding | ||||||||||||||||||||||
Fees Earned or Paid in Cash | –Attract and retain Non-Executive Directors with a diverse set of skills, background and experience. –Align with market value of role. | $100,000 per annum fees (payable in quarterly installments in arrears) pro-rated for the period of service. The fees are reviewed annually or at other times when appropriate and may be increased from time to time pursuant to such review. | Fees are a fixed amount per annum. | No recovery provisions apply | ||||||||||||||||||||||
Compensation Component | Purpose / Link to Gates’s Business Strategy | How Component Operates | Maximum Opportunity | Recovery or withholding | ||||||||||||||||||||||
Stock Awards | –Attract and retain Non-Executive Directors with a diverse set of skills, background and experience. –Align with market value of role. –Align our eligible directors’ financial interests with those of the shareholders. | Annual awards of $125,000 in value of restricted stock units. This is reviewed annually or at other times when appropriate and may be increased from time to time pursuant to such review. | The number of restricted stock units is not adjusted once awarded. | Subject to reduction, cancellation, forfeiture, or recoupment to the extent necessary to comply with (i) any clawback, forfeiture, or other similar policy adopted by the Board or the Compensation Committee and as in effect from time to time, and (ii) applicable law. Further, to the extent that the director receives any amount in excess of the amount that he or she should otherwise have received under the terms of the award for any reason (including, without limitation, by reason of a financial restatement, mistake in calculations, or other administrative error), the director shall be required to repay any such excess amount to the Company. | ||||||||||||||||||||||
Committee Chairperson Fees | –Attract and retain Non-Executive Directors with a specialized set of skills, background and experience –Recognize additional time and responsibility associated with role –Align with market value of role | The Chairpersons of the following committees receive additional annual fixed fees (payable in quarterly installments in arrears): •Chair, Audit Committee: $25,000 •Chair, Compensation Committee: $10,000 •Chair, Nominating and Governance Committee: $10,000 These amounts are reviewed annually or at other times when appropriate and may be increased from time to time pursuant to such review. | Fees are a fixed amount per annum. | No recovery provisions apply | ||||||||||||||||||||||
Reimbursement for preparation of tax filings in U.K. and reimbursement of expenses | –Compensate directors for costs necessarily incurred by them arising from the Company’s choice of country of incorporation. –Compensate directors for costs incurred to attend Board or committee meetings. | The Company reimburses each Non-Executive Director for any advisor fees incurred by such director in connection with the preparation of such director’s U.K. tax return. The Company reimburses all directors for expenses associated with each Board or committee meeting attended. | — | No recovery provisions apply. |
Name | | Year | | Salary ($)(1) | | All Other Benefits ($)(2) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings | | Total Fixed ($) | | Stock Awards ($)(3) | | Option Awards ($)(4) | | Annual Bonus ($)(5) | | Total Variable ($) | | Total ($) | | Name | Year | Salary ($)(1) | All Other Benefits ($)(2) | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) | Total Fixed ($) | Stock Awards ($)(3) | Option Awards ($)(4) | Annual Bonus ($)(5) | Total Variable ($) | Total ($) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Executive Director | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ivo Jurek | | | | 2020 | | | | $ | 1,025,633 | | | | $ | 84,867 | | | | | — | | | | $ | 1,110,500 | | | | $ | 378,907 | | | | | — | | | | $ | 1,545,000 | | | | $ | 1,923,907 | | | | $ | 3,034,407 | | | Ivo Jurek | 2021 | $ | 1,051,392 | $ | 217,622 | $ | — | $ | 1,269,014 | $ | 1,031,752 | $ | 397,796 | $2,058,713 | $ | 3,488,260 | $ | 4,757,275 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 2019 | | | | $ | 989,635 | | | | $ | 164,509 | | | | | — | | | | $ | 1,154,144 | | | | | — | | | | | — | | | | | — | | | | | — | | | | $ | 1,154,144 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2020 | $ | 1,025,633 | $ | 84,867 | $ | — | $ | 1,110,500 | $ | 378,907 | $ | — | $ | 1,545,000 | $ | 1,923,907 | $ | 3,034,407 |
Name | Year | Company Contributions to Gates MatchMaker 401(k)(a) | Company Contributions to Gates Executive Supplemental Retirement Plan(b) | Other Benefits(c) | Total | |||||||||||||||||||||||||||
I. Jurek | 2021 | $17,400 | $147,654 | $52,569 | $217,622 | |||||||||||||||||||||||||||
2020 | $17,100 | $46,738 | $21,029 | $84,867 |
Executive Director | | | | | | | | | Company Contributions to Gates MatchMaker 401(k)(a) | | | Company Contributions to Gates Executive Supplemental Retirement Benefit Plan(b) | | | Other Benefits(c) | | | Total | | ||||||||||||
I. Jurek | | | | | 2020 | | | | | $ | 17,100 | | | | | $ | 46,738 | | | | | $ | 21,029 | | | | | $ | 84,867 | | |
| | | | | 2019 | | | | | $ | 16,800 | | | | | $ | 125,927 | | | | | $ | 21,782 | | | | | $ | 164,509 | | |
Performance Measure | Description | |||||||||
Adjusted ROIC (50%) | 50% of PRSU value is calculated as (Adjusted | |||||||||
The financial measures used to determine Adjusted ROIC are calculated in accordance with U.S. GAAP as presented in the Company’s financial statements, except (i) Adjusted EBITDA is defined in substantially the same manner as described in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Non-GAAP | ||||||||||
Relative TSR (50%) | 50% of PRSU value is based on the Company’s three-year relative TSR ranking against companies in the S&P 400 Capital Goods Industry |
Relative TSR Percentile Rank | Potential Payout Percentage | ||||
75th Percentile or above | 200% | ||||
50th Percentile | 100% | ||||
25th Percentile | 50% | ||||
Below 25th Percentile | —% |
Name | | | Base Salary ($) | | | Target Bonus (% of Base Salary) | | | Target Bonus Opportunity ($) | | |||||||||
I. Jurek | | | | $ | 1,030,000 | | | | | | 150% | | | | | $ | 1,545,000 | | |
Performance Measure | Definitions | |||||||||
Adjusted EBITDA (50%) | Adjusted EBITDA under the Annual Plan is defined in substantially the same manner as described in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Non-GAAP Measures,” of the | |||||||||
Free Cash Flow (30%) | Calculated as Adjusted EBITDA (as defined for purposes of the Annual Plan as described immediately above), less capital expenditures, plus or minus the change in trade working capital versus prior year. | |||||||||
Revenue (20%) | Revenue under the Annual Plan is defined as consolidated revenue as reflected in the Company’s financial statements, excluding the impacts of acquisitions made during the fiscal year. |
(dollars in millions) | Threshold | Target | Maximum | 2021 Attainment | Potential Funding | |||||||||||||||||||||||||||||||||||||||||||||
Measure | Weighting | $ | % | $ | % | |||||||||||||||||||||||||||||||||||||||||||||
Adjusted EBITDA | 50% | $ | 645.4 | $ | 679.4 | $ | 713.4 | $ | 738.5 | 108 | % | $ | 20.6 | 150 | % | |||||||||||||||||||||||||||||||||||
Free Cash Flow | 30% | $ | 481.1 | $ | 506.4 | $ | 531.7 | $ | 554.0 | 109 | % | $ | 12.4 | 150 | % | |||||||||||||||||||||||||||||||||||
Revenue* | 20% | $ | 3,013.1 | $ | 3,110.0 | $ | 3,195.1 | $ | 3,474.4 | 112 | % | $ | 8.3 | 150 | % |
| | | | | | | | | Threshold (50% Funding for 95% of Target) | | | Target (100% Funding) | | | Maximum (150% Funding for 105% of Target) | | | 2020 Attainment | | | Funding | | |||||||||||||||||||||
Measure | | | Weighting | | | (Dollars in Millions) | | | $ | | | % | | | |||||||||||||||||||||||||||||
Adjusted EBITDA | | | | | 50% | | | | | $ | 604.2 | | | | | $ | 636.0 | | | | | $ | 667.8 | | | | | $ | 506.6 | | | | | | 80 | | | | | $ | 0 | | |
Free Cash Flow | | | | | 30% | | | | | $ | 503.5 | | | | | $ | 530.0 | | | | | $ | 556.5 | | | | | $ | 446.9 | | | | | | 84 | | | | | $ | 0 | | |
Revenue* | | | | | 20% | | | | | $ | 3,029.4 | | | | | $ | 3,120.3 | | | | | $ | 3,200.0 | | | | | $ | 2,793.0 | | | | | | 90 | | | | | $ | 0 | | |
(dollars in millions) | Adjusted Target (100% Funding) | 2021 Attainment Adjusted for FX | Potential Funding | |||||||||||||||||||||||||||||||||||||||||
Measure | Weighting | FX Impact | $ | % | $ | % | ||||||||||||||||||||||||||||||||||||||
Adjusted EBITDA | 50% | $ | 24.7 | $ | 704.1 | $ | 745.3 | 108 | % | 106 | % | $ | 20.6 | 150 | % | |||||||||||||||||||||||||||||
Free Cash Flow | 30% | $ | 24.7 | $ | 531.1 | $ | 563.5 | 106 | % | $ | 12.4 | 150 | % | |||||||||||||||||||||||||||||||
Revenue | 20% | $ | 95.2 | $ | 3,205.2 | $ | 3,512.7 | 110 | % | $ | 8.3 | 150 | % |
Name | Base Salary ($) | Target Annual Plan Opportunity (% of Base Salary) | Target Annual Plan Opportunity ($) | Individual Performance Factor (%) | Financial Performance Factor | 2021 Actual Payout | |||||||||||||||||||||||||||||
Ivo Jurek | $ | 1,055,750 | 150% | $ | 1,583,625 | 100 | % | 130 | % | $ | 2,058,713 |
| | | | | | | | | | | | Estimated Future Payouts under non-equity incentive plan awards ($) | | | Estimated Future Payouts under Equity Incentive Plan Awards (#) | | | All other stock awards: number of shares of stock units (#) | | | All other option awards: number of securities underlying options (#) | | | Exercise or base price of option awards ($/sh) | | | Grant date face value of stock and option awards ($)(6) | | | Grant date fair value of stock and option awards ($) | | |||||||||||||||||||||||||||||||||||||||||||||
Name | | | Award Type | | | Grant Date | | | Threshold | | | Target | | | Max | | | Threshold | | | Target | | | Max | | |||||||||||||||||||||||||||||||||||||||||||||||||||
I. Jurek | | | Annual Plan(1) | | | | | — | | | | | $ | 154,500 | | | | | $ | 1,545,000 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PRSU(2) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | 1,839 | | | | | | 183,928 | | | | | | 367,856 | | | | | | | | | | | | | | | | | | | | | | | $ | 4,634,986 | | | | | $ | 2,668,795 | | |
| | | RSU(3) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 91,964 | | | | | | | | | | | | | | | | | $ | 1,158,746 | | | | | $ | 1,158,746 | | |
| | | Options(4) | | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 241,406 | | | | | $ | 12.60 | | | | | $ | 3,041,716 | | | | | $ | 1,158,749 | | |
| | | Annual Plan(1) | | | | | — | | | | | $ | 150,000 | | | | | $ | 1,500,000 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PRSU(2) | | | | | 2/22/2019 | | | | | | | | | | | | | | | | | | | | | | | | 929 | | | | | | 92,952 | | | | | | 185,904 | | | | | | | | | | | | | | | | | | | | | | | $ | 3,059,980 | | | | | $ | 1,865,082 | | |
| | | RSU(3) | | | | | 2/22/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 90,218 | | | | | | | | | | | | | | | | | $ | 1,484,988 | | | | | $ | 1,484,988 | | |
| | | Options(4) | | | | | 2/22/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 252,122 | | | | | $ | 16.46 | | | | | $ | 4,149,928 | | | | | $ | 1,482,477 | | |
| | | Options(5) | | | | | 2/22/2019 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 796,460 | | | | | $ | 19.00 | | | | | $ | 13,109,732 | | | | | $ | 4,499,999 | | |
Award Type | Grant Date | Estimated Future Payouts under non-equity incentive plan awards ($) | Estimated Future Payouts under Equity Incentive Plan Awards (#) | All other stock awards: number of shares of stock units (#) | All other option awards: number of securities underlying options (#) | Exercise or base price of option awards ($/sh) | Grant date face value of stock and option awards ($)(6) | Grant date fair value of stock and option awards ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Threshold | Target | Max | Threshold | Target | Max | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Plan(1) | — | $ | 158,363 | $ | 1,583,625 | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PRSU(2) | 2/26/2021 | 41,350 | 165,400 | 330,800 | $ | 4,962,000 | $ | 2,963,968 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSU(3) | 2/26/2021 | 82,700 | $ | 1,240,500 | $ | 1,240,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options(4) | 2/26/2021 | 148,950 | $ | 15.00 | $ | 2,234,250 | $ | 992,007 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options(5) | 2/26/2021 | 39,009 | $ | 16.50 | $ | 585,135 | $ | 248,097 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Plan(1) | — | $ | 154,500 | $ | 1,545,000 | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PRSU(2) | 2/21/2020 | 1,839 | 183,928 | 367,856 | $ | 4,634,986 | $ | 2,668,795 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSU(3) | 2/21/2020 | 91,964 | $ | 1,158,746 | $ | 1,158,746 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options(4) | 2/21/2020 | 241,406 | $ | 12.60 | $ | 3,041,716 | $ | 1,158,749 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | Option Awards (*) | | | Stock Awards | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
Name | | | Grant Date | | | Number of securities underlying unexercised options (#) exercisable | | | Number of securities underlying unexercised options (#) unexercisable | | | Equity Incentive Plan Awards: Number of securities underlying unexercised unearned options (#)(2) | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of shares or units of stock that have not vested (#)(3) | | | Market value of shares or units of stock that have not vested ($)(4) | | | Equity incentive plan awards: number of unearned shares, units or other rights that have not vested (#)(7) | | | Equity incentive plan awards: market or payout value of unearned shares, units or other rights that have not vested ($)(8) | | |||||||||||||||||||||||||||||||||
I. Jurek | | | Awards without performance measures | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | 5/18/2015 | | | | Tier I(1) | | | | | 1,017,239 | | | | | | — | | | | | | — | | | | | $ | 6.56 | | | | | | 5/18/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 5/2/2017 | | | | Tier I(1) | | | | | 81,297 | | | | | | 54,199 | | | | | | — | | | | | $ | 7.87 | | | | | | 5/2/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/22/2019 | | | | Options(5) | | | | | 84,040 | | | | | | 168,082 | | | | | | — | | | | | $ | 16.46 | | | | | | 2/22/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/22/2019 | | | | Options(6) | | | | | — | | | | | | 796,460 | | | | | | — | | | | | $ | 19.00 | | | | | | 2/22/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/22/2019 | | | | RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 60,146 | | | | | $ | 767,463 | | | | | | | | | | | | | | |
| | | | | 2/21/2020 | | | | Options | | | | | — | | | | | | 241,406 | | | | | | — | | | | | $ | 12.60 | | | | | | 2/21/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/21/2020 | | | | RSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | �� | | | | | | | 91,964 | | | | | $ | 1,173,461 | | | | | | | | | | | | | | |
| | | Awards with performance measures | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | 5/18/2015 | | | | Tier II | | | | | — | | | | | | — | | | | | | 1,017,239 | | | | | $ | 6.56 | | | | | | 5/18/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 5/18/2015 | | | | Tier III | | | | | — | | | | | | — | | | | | | 1,017,239 | | | | | $ | 6.56 | | | | | | 5/18/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 5/18/2015 | | | | Tier IV | | | | | — | | | | | | — | | | | | | 1,017,239 | | | | | $ | 9.84 | | | | | | 5/18/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 5/2/2017 | | | | Tier II | | | | | — | | | | | | — | | | | | | 135,496 | | | | | $ | 7.87 | | | | | | 5/2/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 5/2/2017 | | | | Tier III | | | | | — | | | | | | — | | | | | | 135,496 | | | | | $ | 7.87 | | | | | | 5/2/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 5/2/2017 | | | | Tier IV | | | | | — | | | | | | — | | | | | | 135,496 | | | | | $ | 11.80 | | | | | | 5/2/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/22/2019 | | | | PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 24,167 | | | | | $ | 308,371 | | |
| | | | | 2/21/2020 | | | | PRSU | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 47,821 | | | | | $ | 610,196 | | |
Option Awards * | Stock Awards | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Grant Date | Number of securities underlying unexercised options (#) exercisable | Number of securities underlying unexercised options (#) unexercisable | Equity Incentive Plan Awards: Number of securities underlying unexercised unearned options (#)(2) | Option Exercise Price ($) | Option Expiration Date | Number of shares or units of stock that have not vested (#)(3) | Market value of shares or units of stock that have not vested ($)(4) | Equity incentive plan awards: number of unearned shares, units or other rights that have not vested (#)(7) | Equity incentive plan awards: market or payout value of unearned shares, units or other rights that have not vested ($)(8) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Awards without performance measures | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/18/2015 | Tier I(1) | 1,017,239 | — | $ | 6.56 | 5/18/2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5/2/2017 | Tier I(1) | 108,397 | 27,099 | $ | 7.87 | 5/2/2027 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 | Options(5) | 168,081 | 84,041 | $ | 16.46 | 2/22/2029 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 | Options(6) | — | 796,460 | $ | 19.00 | 2/22/2029 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 | RSU | 30,073 | $ | 478,461 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 | Options(5) | 80,468 | 160,938 | $ | 12.60 | 2/21/2030 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 | RSU | 61,310 | $ | 975,442 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 | Options(5) | — | 148,950 | $ | 15.00 | 2/26/2031 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 | Options(6) | — | 39,009 | $ | 16.50 | 2/26/2031 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 | RSU | 82,700 | $ | 1,315,757 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Awards with performance measures | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/18/2015 | Tier II | 1,017,239 | $ | 6.56 | 5/18/2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/18/2015 | Tier III | 1,017,239 | $ | 6.56 | 5/18/2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/18/2015 | Tier IV | 1,017,239 | $ | 9.84 | 5/18/2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/2/2017 | Tier II | 135,496 | $ | 7.87 | 5/2/2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/2/2017 | Tier III | 135,496 | $ | 7.87 | 5/2/2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
5/2/2017 | Tier IV | 135,496 | $ | 11.80 | 5/2/2027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/22/2019 | PRSU | 24,167 | $ | 384,497 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/21/2020 | PRSU | 47,821 | $ | 760,832 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 | PRSU | 82,700 | $ | 1,315,757 |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||
Name | | | # of Shares Acquired on Exercise (#) | | | Value Realized on Exercise ($) | | | # of Shares or Units Acquired on Vesting (#) | | | Value Realized on Vesting ($)(1) | | ||||||||||||
I. Jurek | | | | | — | | | | | | — | | | | | | 30,072 | | | | | $ | 378,907 | | |
Option Awards | Stock Awards | |||||||||||||||||||||||||
Name | Shares Acquired on Exercise (#) | Value Realized on Exercise ($) | Shares or Units Acquired on Vesting (#) | Value Realized on Vesting ($)(1) | ||||||||||||||||||||||
I. Jurek | — | $ | — | 60,727 | $ | 1,031,752 |
Name | | | Year | | | (Fixed) Fees Earned or Paid in Cash ($)(1) | | | (Variable) Stock Awards ($)(2) | | | Total ($) | | ||||||||||||
J. Ireland | | | | | 2020 | | | | | $ | 100,000 | | | | | $ | 76,545 | | | | | $ | 176,484 | | |
| | | | | 2019 | | | | | $ | 125,000 | | | | | $ | 77,606 | | | | | $ | 202,606 | | |
T. Klebe(3) | | | | | 2020 | | | | | $ | 125,000 | | | | | | — | | | | | $ | 125,000 | | |
| | | | | 2019 | | | | | $ | 150,000 | | | | | $ | 2,557 | | | | | $ | 152,557 | | |
S. Mains | | | | | 2020 | | | | | $ | 100,000 | | | | | $ | 64,967 | | | | | $ | 164,905 | | |
| | | | | 2019 | | | | | $ | 104,167 | | | | | | — | | | | | $ | 104,167 | | |
Name | Year | (Fixed) Fees Earned or Paid in Cash ($)(1) | (Variable) Stock Awards ($)(2) | Total ($) | ||||||||||||||||||||||
J. Ireland | 2021 | $ | 100,000 | $ | 168,541 | $ | 268,541 | |||||||||||||||||||
2020 | $ | 100,000 | $ | 76,545 | $ | 176,545 | ||||||||||||||||||||
J. Kahr(3) | 2021 | $ | 18,737 | $ | — | $ | 18,737 | |||||||||||||||||||
2020 | $ | — | $ | — | $ | — | ||||||||||||||||||||
T. Klebe(4) | 2021 | $ | 125,000 | $ | — | $ | 125,000 | |||||||||||||||||||
2020 | $ | 125,000 | $ | — | $ | 125,000 | ||||||||||||||||||||
S. Mains | 2021 | $ | 100,000 | $ | 168,541 | $ | 268,541 | |||||||||||||||||||
2020 | $ | 100,000 | $ | 64,967 | $ | 164,967 | ||||||||||||||||||||
W. Neely | 2021 | $ | 100,000 | $ | 285,533 | $ | 385,533 | |||||||||||||||||||
2020 | $ | 74,176 | $ | — | $ | 74,176 | ||||||||||||||||||||
A. Tillman(5) | 2021 | $ | 68,681 | $ | — | $ | 68,681 | |||||||||||||||||||
2020 | $ | — | $ | — | $ | — | ||||||||||||||||||||
M. Zhang(6) | 2021 | $ | 100,000 | $ | — | $ | 100,000 | |||||||||||||||||||
2020 | $ | 49,176 | $ | — | $ | 49,176 | ||||||||||||||||||||
N. Simpkins | 2021 | $ | — | $ | — | $ | — | |||||||||||||||||||
2020 | $ | — | $ | — | $ | — |
Name | | | Year | | | (Fixed) Fees Earned or Paid in Cash ($)(1) | | | (Variable) Stock Awards ($)(2) | | | Total ($) | | ||||||||||||
W. Neely(4) | | | | | 2020 | | | | | $ | 74,176 | | | | | | — | | | | | $ | 74,176 | | |
| | | | | 2019 | | | | | | — | | | | | | — | | | | | | — | | |
M. Zhang(4) | | | | | 2020 | | | | | $ | 49,176 | | | | | | — | | | | | $ | 49,176 | | |
| | | | | 2019 | | | | | | — | | | | | | — | | | | | | — | | |
D. Calhoun | | | | | 2020 | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2019 | | | | | | — | | | | | | — | | | | | | — | | |
J. Kahr | | | | | 2020 | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2019 | | | | | | — | | | | | | — | | | | | | — | | |
N. Simpkins | | | | | 2020 | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2019 | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | | | Option Awards (*) | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Option Awards | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | | Grant Date | | Number of securities underlying unexercised options (#) exercisable(1) | | Number of securities underlying unexercised options (#) unexercisable(2) | | Equity Incentive Plan Awards: Number of securities underlying unexercised unearned options (#) | | Option Exercise Price ($) | | Option Expiration Date | | Number of shares or units of stock that have not vested (#)(3) | | Market value of shares or units of stock that have not vested ($)(4) | | Name | Grant Date | Number of securities underlying unexercised options (#) exercisable(1) | Option Exercise Price ($) | Option Expiration Date | Number of shares or units of stock that have not vested (#)(2) | Market value of shares or units of stock that have not vested ($)(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
T. Klebe | | | | 5/12/2016 | | | | | 61,034 | | | | | 15,259 | | | | | | $ | 6.56 | | | | | 5/12/2026 | | | | | | | | | | | | | T. Klebe | 5/12/2016 | 76,293 | $ | 6.56 | 5/12/2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,920 | | | | $ | 126,579 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/26/2021 | 8,333 | $ | 132,578 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
J. Ireland | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,920 | | | | $ | 126,579 | | | J. Ireland | 2/26/2021 | 8,333 | $ | 132,578 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
J. Kahr | J. Kahr | 11/1/2021 | 7,292 | $ | 116,016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
S. Mains | | | | 2/21/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,920 | | | | $ | 126,579 | | | S. Mains | 2/26/2021 | 8,333 | $ | 132,578 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
W. Neely | | | | 4/1/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | 17,857 | | | | $ | 227,855 | | | W. Neely | 2/26/2021 | 8,333 | $ | 132,578 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
A. Tillman | A. Tillman | 4/27/2021 | 7,142 | $ | 113,629 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
M. Zhang | | | | 7/1/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,664 | | | | $ | 161,593 | | | M. Zhang | 2/26/2021 | 8,333 | $ | 132,578 |
| | Option Awards | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||
Name | Name | Option Awards | Stock Awards | ||||||||||||||||||||||||||||||||||||||||||||||||
| # of Shares Acquired on Exercise (#) | | Value Realized on Exercise ($) | | # of Shares or Units Acquired on Vesting (#) | | Value Realized on Vesting ($)(1) | | Shares Acquired on Exercise (#) | Value Realized on Exercise ($) | Shares or Units Acquired on Vesting (#) | Value Realized on Vesting ($)(1) | |||||||||||||||||||||||||||||||||||||||
J. Ireland | | | | — | | | | | — | | | | | 6,075 | | | | $ | 76,545 | | | J. Ireland | — | $ | — | 9,920 | $ | 168,541 | |||||||||||||||||||||||
J. Kahr | J. Kahr | — | $ | — | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||
T. Klebe(2) | | | | — | | | | | — | | | | | — | | | | | — | | | T. Klebe(2) | — | $ | — | — | $ | — | |||||||||||||||||||||||
S. Mains | | | | — | | | | | — | | | | | 6,211 | | | | $ | 64,967 | | | S. Mains | — | $ | — | 9,920 | $ | 168,541 | |||||||||||||||||||||||
W. Neely | W. Neely | — | $ | — | 17,857 | $ | 285,533 | ||||||||||||||||||||||||||||||||||||||||||||
A. Tillman | A. Tillman | — | $ | — | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||
M. Zhang(3) | M. Zhang(3) | — | $ | — | — | $ | — |
Name of Director | Number of shares held in Company as of January | ||||||||||||
Executive Director | |||||||||||||
I. Jurek | |||||||||||||
Non-Executive Directors | |||||||||||||
J. Ireland | |||||||||||||
T. Klebe(1) | |||||||||||||
S. Mains | |||||||||||||
W. Neely | |||||||||||||
M. Zhang(2) | |||||||||||||
J. Kahr | — | ||||||||||||
Non-Executive Director; Sponsor-affiliated Director | |||||||||||||
N. Simpkins | — |
| | 2020 | | 2019 | | ||||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||||||
Total remuneration | | | $ | 3,034,106 | | | | $ | 1,154,144 | | | Total remuneration | $ | 4,757,275 | $ | 3,034,407 | |||||||||||
Annual bonus as a percentage of maximum(1) | | | | 67% | | | | | 0% | | | Annual bonus as a percentage of maximum(1) | 87% | 67% | |||||||||||||
Equity awards vested as a percentage of maximum(2) | | | | 100% | | | | | — | | | Equity awards vested as a percentage of maximum(2) | 100% | 100% |
Percentage change from 2020 to 2021 | Percentage change from 2019 to 2020 | ||||||||||||||||||||||||||||||||||
Salary/Fees % | All Other Benefits % | Annual Bonus % | Salary/Fees % | All Other Benefits % | Annual Bonus % | ||||||||||||||||||||||||||||||
Employees(1) | 2% | 16% | 31% | 3% | (10)% | 1,220% | |||||||||||||||||||||||||||||
Executive Directors(2) | |||||||||||||||||||||||||||||||||||
I. Jurek | 3% | 156% | 33% | 4% | (48)% | 100% | |||||||||||||||||||||||||||||
Non-Executive Directors(3) | |||||||||||||||||||||||||||||||||||
J. Ireland | — | % | —% | —% | (20)% | —% | —% | ||||||||||||||||||||||||||||
J. Kahr(4) | 100 | % | —% | —% | —% | —% | —% | ||||||||||||||||||||||||||||
T. Klebe | — | % | —% | —% | (17)% | —% | —% | ||||||||||||||||||||||||||||
S. Mains | — | % | —% | —% | (20)% | —% | —% | ||||||||||||||||||||||||||||
W. Neely(5) | 35 | % | —% | —% | —% | —% | —% | ||||||||||||||||||||||||||||
A. Tillman(5) | 100 | % | —% | —% | —% | —% | —% | ||||||||||||||||||||||||||||
M. Zhang(5) | 103 | % | —% | —% | —% | —% | —% |
| | | Salary/ Fees % | | | All Other Benefits % | | | Annual Bonus % | | |||||||||
Employees(1) | | | | | 3% | | | | | | -10% | | | | | | 1,220% | | |
Executive Directors(2) | | | | | | | | | | | | | | | | | | | |
I. Jurek | | | | | 4% | | | | | | -48% | | | | | | 100% | | |
Non-Executive Directors(3) | | | | | | | | | | | | | | | | | | | |
J. Ireland | | | | | -20% | | | | | | — | | | | | | — | | |
T. Klebe | | | | | -17% | | | | | | — | | | | | | — | | |
S. Mains | | | | | -20% | | | | | | — | | | | | | — | | |
W. Neely(4) | | | | | — | | | | | | — | | | | | | — | | |
M. Zhang(4) | | | | | — | | | | | | — | | | | | | — | | |
Financial Year | Method | 25th percentile pay ratio | Median pay ratio | 75th percentage pay ratio | |||||||||||||||||||||||||||
2021 | C | 223 to 1 | 145 to 1 | 142 to 1 | |||||||||||||||||||||||||||
2020 | C | 142 to 1 | 110 to 1 | 110 to 1 |
Percentile | | | Compensation | | |||
25th percentile | | | | $ | 21,415 | | |
Median | | | | $ | 27,499 | | |
75th percentile | | | | $ | 27,527 | | |
(dollars) | 25th percentile | Median | 75th percentile | ||||||||||||||||||||
Salary | 17,996 | 30,298 | 30,285 | ||||||||||||||||||||
Total remuneration | 21,374 | 32,878 | 33,573 |
| | 2020 financial year ($ millions) | | 2019 financial year ($ millions) | | |||||||||||||||||||
(dollars in millions) | (dollars in millions) | 2021 financial year | 2020 financial year | |||||||||||||||||||||
Employee remuneration | | | $ | 739.5 | | | | $ | 728.6 | | | Employee remuneration | $ | 822.0 | $ | 739.5 | ||||||||
Dividends | | | | — | | | | | — | | | Dividends | $ | — | $ | — | ||||||||
Share buyback | | | | — | | | | | — | | | Share buyback | $ | 10.6 | $ | — |
Votes For | | % of Total | | Votes Against | | % of Total | | Votes Abstain | | % of Total | | Votes For | % of Total | Votes Against | % of Total | Votes Abstain | % of Total | ||||||||||||||||||||||||||||||||||||||||||||||
286,016,539 | | | | 99.82% | | | | | 382,213 | | | | | 0.13% | | | | | 136,350 | | | | | 0.05% | | | |||||||||||||||||||||||||||||||||||||
266,789,530 | 266,789,530 | 94.85% | 14,393,290 | 5.11% | 84,753 | 0.03% |
Votes For | % of Total | Votes Against | % of Total | Votes Abstain | % of Total | |||||||||||||||||||||||||||
270,199,037 | 96.06% | 10,983,539 | 3.90% | 84,753 | 0.03% |
Votes For | | | % of Total | | | Votes Against | | | % of Total | | | Votes Abstain | | | % of Total | | |||||||||||||||
286,034,694 | | | | | 99.83% | | | | | | 359,283 | | | | | | 0.13% | | | | | | 141,125 | | | | | | 0.05% | | |
Ivo Jurek | ||
Director and Chief Executive Officer |