CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS | ||||||||||||
Proposals | Required Vote | Effect of Broker Non-Votes | Effect of Abstentions | |||||||||||||||||||||||||||||||
1. | Election of Directors | Majority of votes cast for each nominee | None | None | ||||||||||||||||||||||||||||||
2. | Ratification of the Appointment of Independent Registered Public Accounting Firm | Majority of votes cast | None | None | ||||||||||||||||||||||||||||||
Total Number of Directors | | | 11 | | |||||||||||||||
| | | Female | | | Male | | | Did Not Disclose | | |||||||||
Gender Identity | | | | | 3 | | | | | | 6 | | | | | | 2 | | |
Demographic Background | | ||||||||||||||||||
Hispanic or Latinx | | | | | 1 | | | | | | — | | | | | | — | | |
Middle Eastern | | | | | — | | | | | | 1 | | | | | | — | | |
White | | | | | 2 | | | | | | 5 | | | | | | — | | |
Did not Disclose Demographic Background | | | | | — | | | | | | — | | | | | | 2 | | |
Total Number of Directors | 11 | |||||||||||||||||||||||||||||||||||||
Female | Male | Did Not Disclose | ||||||||||||||||||||||||||||||||||||
Gender | 3 | 6 | 2 | |||||||||||||||||||||||||||||||||||
Demographic Background | ||||||||||||||||||||||||||||||||||||||
Hispanic or Latinx | 1 | — | — | |||||||||||||||||||||||||||||||||||
Middle Eastern | — | 1 | 1 | |||||||||||||||||||||||||||||||||||
White | 2 | 5 | — | |||||||||||||||||||||||||||||||||||
Did not Disclose Demographic Background | — | — | 1 |
| | | 2022 ($) | | | 2021 ($) | | ||||||
| | | (in thousands) | | |||||||||
Audit Fees(1) | | | | | 6,437 | | | | | | 7,520 | | |
Audit-Related Fees(2) | | | | | 700 | | | | | | 659 | | |
Tax Fees(3) | | | | | 2,740 | | | | | | 2,679 | | |
Total(4) | | | | | 9,877 | | | | | | 10,858 | | |
2023 ($) | 2022 ($) | |||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||
Audit Fees(1) | 7,403 | 6,437 | ||||||||||||||||||||||||
Audit-Related Fees(2) | 412 | 700 | ||||||||||||||||||||||||
Tax Fees(3) | 1,893 | 2,740 | ||||||||||||||||||||||||
Total(4) | 9,708 | 9,877 | ||||||||||||||||||||||||
| | | Class A Common Stock Beneficially Owned | | | Class B Common Stock Beneficially Owned | | | Combined Total Voting Power | | |||||||||||||||||||||
Name of Beneficial Owner(1)(2) | | | Shares | | | Percent | | | Shares | | | Percent | | | Percent | | |||||||||||||||
Five Percent Holders | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Juweel Investors (SPC) Limited(3) | | | | | 162,388,084 | | | | | | 70.0% | | | | | | 162,388,084 | | | | | | 41.2% | | | | | | 35.0% | | |
American Express Company(4) | | | | | 157,786,199 | | | | | | 69.4% | | | | | | 157,786,199 | | | | | | 40.0% | | | | | | 34.0% | | |
Expedia Group, Inc.(5) | | | | | 74,274,198 | | | | | | 51.7% | | | | | | 74,274,198 | | | | | | 18.8% | | | | | | 16.0% | | |
Apollo Principal Holdings III GP, Ltd.(6) | | | | | 25,706,886 | | | | | | 37.0% | | | | | | — | | | | | | — | | | | | | 5.5% | | |
Entities affiliated with or managed by affiliates of Ares Management LLC(7) | | | | | 8,675,568 | | | | | | 12.5% | | | | | | — | | | | | | — | | | | | | 1.9% | | |
HG Vora Capital Management, LLC(8) | | | | | 8,200,000 | | | | | | 11.8% | | | | | | — | | | | | | — | | | | | | 1.8% | | |
Sabre Corporation(9) | | | | | 8,000,000 | | | | | | 11.5% | | | | | | — | | | | | | — | | | | | | 1.7% | | |
Zoom Video Communications, Inc.(10) | | | | | 4,000,000 | | | | | | 5.9% | | | | | | — | | | | | | — | | | | | | * | | |
Directors and Named Executive Officers | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Paul Abbott | | | | | 17,739 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
Martine Gerow(11) | | | | | 1,158,332 | | | | | | 1.6% | | | | | | — | | | | | | — | | | | | | — | | |
Andrew Crawley | | | | | — | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
Michael Qualantone(12) | | | | | 438,117 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
Eric Bock(13) | | | | | 465,805 | | | | | | * | | | | | | — | | | | | | — | | | | | | — | | |
James Bush | | | | | 17,500 | | | | | | * | | | | | | — | | | | | | — | | | | | | * | | |
Eric Hart | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Raymond Donald Joabar | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Class A Common Stock Beneficially Owned | ||||||||||||||
Name of Beneficial Owner(1) | Shares | Percent | ||||||||||||
Five Percent Holders | ||||||||||||||
American Express International, Inc.(2) | 157,786,199 | 33.4% | ||||||||||||
Qatar Investment Authority(3) | 87,659,000 | 18.5% | ||||||||||||
Expedia Group, Inc.(4) | 74,849,607 | 15.8% | ||||||||||||
BR Investors Juweel, L.P. | 39,446,374 | 8.3% | ||||||||||||
Apollo Principal Holdings III GP, Ltd.(5) | 25,706,886 | 5.4% | ||||||||||||
Directors, Director Nominees and Named Executive Officers | ||||||||||||||
Paul Abbott | 538,915 | * | ||||||||||||
Andrew Crawley | 237,693 | * | ||||||||||||
Eric J. Bock(6) | 1,224,002 | * | ||||||||||||
Martine Gerow | 10,000 | * | ||||||||||||
Patricia Huska | 290,758 | * | ||||||||||||
Karen Williams | 40,833 | * | ||||||||||||
James Bush(7) | 58,742 | * | ||||||||||||
Alexander Drummond | — | — | ||||||||||||
Eric Hart(7) | 41,242 | * | ||||||||||||
Raymond Donald Joabar(7) | 41,242 | * | ||||||||||||
Gloria Guevara Manzo(7) | 41,242 | * | ||||||||||||
Michael Gregory O’Hara(7) | 41,242 | * | ||||||||||||
Richard Petrino | 41,242 | * | ||||||||||||
Mohammed Saif S.S. Al-Sowaidi | 41,242 | * | ||||||||||||
Itai Wallach | — | — | ||||||||||||
Susan Ward(7) | 41,242 | * | ||||||||||||
Kathleen Winters(7) | 41,242 | * | ||||||||||||
Directors and Executive Officers as a Group | ||||||||||||||
(20 Individuals)(8) | 5,034,718 | 1.1% | ||||||||||||
| | | Class A Common Stock Beneficially Owned | | | Class B Common Stock Beneficially Owned | | | Combined Total Voting Power | | |||||||||||||||||||||
Name of Beneficial Owner(1)(2) | | | Shares | | | Percent | | | Shares | | | Percent | | | Percent | | |||||||||||||||
Gloria Guevara Manzo | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Michael Gregory O’Hara | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Richard Petrino | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Mohammed Saif S.S. Al-Sowaidi | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Itai Wallach | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Susan Ward | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Kathleen Winters | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Directors and Executive Officers as a Group | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
(20 Individuals)(14) | | | | | 3,626,349 | | | | | | 5.0% | | | | | | — | | | | | | — | | | | | | * | | |
Name | Positions Held with the Company | ||||||||
Paul Abbott | Chief Executive Officer | ||||||||
Karen Williams(1) | Chief Financial Officer | ||||||||
Andrew Crawley | President | ||||||||
Eric J. Bock | Chief Legal Officer, Global Head of Mergers & Acquisitions and Compliance and Corporate Secretary | ||||||||
Patricia Huska | |||||||||
Martine Gerow(2) | Former Chief Financial Officer | ||||||||
FY 2023 Highlights | Proof Points | ||||
Outstanding financial performance | •$549M revenue and $80M Adjusted EBITDA in Q4 2023, up 83% or $37M year-over-year ("YOY") •FY 2023 results above initial guidance with revenue up 24% and Adjusted EBITDA +269% to $380M | ||||
Continued share gains | •Record Total New Wins Value of $3.5B, including $2.2B from small and medium enterprises ("SME") •96% customer retention rate | ||||
Operating leverage | •24% revenue growth vs. single-digit Adjusted Operating Expense growth in FY 2023 •Operating leverage drove FY 2023 Adjusted EBITDA margin expansion of 11ppts | ||||
Positive cash flow and rapid deleveraging | •Positive full-year Free Cash Flow of $49M •Significant deleveraging to 2.3x1 at year-end 2023 vs. 8.9x at year-end 2022 |
Commercial Leadership | Significant New Wins | Technology Leadership | ||||||||||||
$3.5B | 78% of transactions through digital channels in Q4 2023, +1pt vs. Q3 2023 | |||||||||||||
Total New Wins Value | ||||||||||||||
96% | >60% of bookings now through our own platforms, Egencia and Neo | |||||||||||||
Customer Retention Rate, +1ppt YOY | ||||||||||||||
40% Neo transaction growth in FY 2023 | ||||||||||||||
$2.2B | ||||||||||||||
Record SME New Wins Value, +$100M YOY | 24% Egencia transaction growth in FY 2023 | |||||||||||||
One of the world’s largest alternative asset managers | ||||||||||||||
~30% | Implementing AI-powered solutions to improve automation and productivity | |||||||||||||
SME New Wins Value From Previously Unmanaged Customers, +5ppt YOY | One of the world’s largest financial services firms |
FY 2023 Results | YOY % | |||||||
Total Revenue | $2.29B | 24% | ||||||
Revenue Yield(1) | 8% | 0 ppt | ||||||
Adjusted Operating Expenses | $1.91B | 9% | ||||||
Adjusted EBITDA | $380M | 269% | ||||||
Adjusted EBITDA Margin | 17% | 11 ppt | ||||||
Net cash provided by operating activities | $162M | NM | ||||||
Free Cash Flow | $49M | NM |
What we do: | What we don't do: | ||||||||||
Compensation at-risk - A significant portion of our executives’ compensation is at-risk based on corporate performance. This includes a large portion of equity-based compensation to align the interests of our executive officers and stockholders. | Hedging/Pledging of Company Stock - We prohibit our officers and directors from hedging, pledging, short-selling, or publicly trading options in our stock. | ||||||||||
Diversified Short-Term Incentives - We establish clear, measurable, and appropriately rigorous performance goals and targets that are tied to key financial, customer and colleague goals, and generally have capped the maximum payouts. | Provide Bonus Guarantees or Uncapped Incentives - We do not provide bonus guarantees and our program guidelines have a recommended range up to 150% of target. | ||||||||||
Executive Compensation Peer Group - We review our executive compensation peer group on an annual basis to evaluate the constituents for appropriate size and business fit. | Change in Control Excise Tax Gross-ups - We do not pay excise tax gross-ups on change in control payments. | ||||||||||
Independent Compensation Consultant - We retain an independent compensation consultant that regularly meets with the Compensation Committee in executive session without management present. | Limited perquisites - We provide our named executive officers with only limited perquisites and personal benefits. | ||||||||||
Compensation Risk Assessment - We review our compensation programs annually to ensure they do not pose a material risk to the Company. | Repricing or Exchange of Out-of-the-Money Options - We prohibit option repricing without stockholder approval. | ||||||||||
Double Trigger Vesting Acceleration - Awards under our current equity incentive plan generally allow vesting in connection with a change in control only if the award recipient is terminated without cause or for good reason following a change in control. | Single Trigger Vesting Acceleration - No awards granted under our current equity incentive plan will vest solely because of a change in control of the Company. | ||||||||||
Minimum Vesting Requirement - Awards granted under our current equity incentive plan generally are subject to a one-year minimum vesting requirement, with limited exceptions. | |||||||||||
Stock Ownership Guidelines - We have stock ownership guidelines for executive officers to instill a sense of Company ownership, and to align executives’ interests with the interests of our stockholders. | |||||||||||
Clawback Policy - We adopted a Dodd-Frank compliant clawback policy that allows the Company to recoup incentive compensation awarded to executive officers or other employees in the event of a material restatement of the Company’s financial statements or misconduct that has caused economic or reputational damage to the Company. |
Component | Overview | Objectives | ||||||
Annual Base Salary | Fixed compensation that is reviewed annually. | To provide NEOs with predictable fixed compensation at a level that is in line with market practice and similar roles. | ||||||
Annual Incentive Compensation | Variable compensation that is based on achievement of Company performance goals. | To reward NEOs for achieving short-term critical performance goals. | ||||||
Equity Compensation | Variable compensation that is tied to the Company's long-term growth. | To align the majority of compensation for NEOs to execute on long-term financial strategic goals that drive stockholder value creation and support the Company's retention strategy. |
Compensation Committee | •The Compensation Committee is responsible for helping to ensure that the compensation of our executive officers, including our named executive officers, is consistent with our executive compensation philosophy and objectives. •In the first quarter of each fiscal year, with input from its independent compensation consultant, Semler Brossy, the Compensation Committee oversees and approves key aspects of executive compensation, including our Chief Executive Officer’s and other executive officers’ annual base salaries, performance measures and cash awards paid under the annual incentive plan, and the size and structure of long-term equity awards. •In making executive compensation decisions, the Compensation Committee reviews a variety of information for each executive officer, including current total compensation and pay history, equity holdings, individual performance, and competitive market data and practices for comparable positions. Neither our CEO nor our other named executive officers are present when their specific compensation arrangements are approved by the Compensation Committee. | ||||
Management | •Our Chief Executive Officer and Chief People Officer work closely with the Compensation Committee in managing the executive compensation program and attend meetings of the Compensation Committee. Other key stakeholders include Legal, for compliance and governance purposes, and Finance for goal setting purposes. •Our Chief Executive Officer makes recommendations to the Compensation Committee regarding compensation for executive officers other than himself. | ||||
Independent Compensation Consultant | •The Compensation Committee’s independent compensation consultant, Semler Brossy, provides research, survey information and analysis, incentive design expertise and other analyses related to compensation levels and design. Semler Brossy also updates the Compensation Committee on trends and developments related to executive compensation practices and provides its views to the Compensation Committee on best practices when evaluating executive pay programs and policies. •In 2023, Semler Brossy’s services to the Compensation Committee included providing perspective on current trends and developments in executive and director compensation, analyzing benchmarking data and evaluating our peer group composition. The Compensation Committee evaluated whether any of the work provided by Semler Brossy during 2023 raised any conflict of interest and determined that it did not. |
Black Knight, Inc. | |||||||||
Marriott Vacations Worldwide Corporation | |||||||||
Broadridge Financial Solutions, Inc. | |||||||||
CBIZ, Inc. | |||||||||
Choice Hotels International, Inc. | Travel + Leisure Co. | ||||||||
Tripadvisor, Inc. | |||||||||
TTEC Holdings, Inc. | |||||||||
WEX Inc. | |||||||||
Hyatt Hotels Corporation |
Name | | | 2021 Base Salary Rate ($)(1) | | | 2022 Base Salary Rate ($) | | | Percentage Change (%)(2) | | |||||||||
Paul Abbott(3) | | | | | 1,374,903 | | | | | | 1,240,000 | | | | | | — | | |
Martine Gerow(3) | | | | | 597,395 | | | | | | 596,998 | | | | | | 10 | | |
Andrew Crawley(3) | | | | | 893,687 | | | | | | 806,000 | | | | | | — | | |
Michael Qualantone | | | | | 650,000 | | | | | | 650,000 | | | | | | — | | |
Eric J. Bock | | | | | 600,000 | | | | | | 650,000 | | | | | | 8 | | |
Name | 2022 Base Salary Rate ($) | 2023 Base Salary Rate ($) | Percentage Change (%) | |||||||||||||||||||||||||||||
Paul Abbott(1) | 1,240,000 | 1,240,000 | — | |||||||||||||||||||||||||||||
Karen Williams(1)(2) | n/a | 508,400 | — | |||||||||||||||||||||||||||||
Andrew Crawley(1) | 806,000 | 806,000 | — | |||||||||||||||||||||||||||||
Eric J. Bock | 650,000 | 650,000 | — | |||||||||||||||||||||||||||||
Patricia Huska(2) | n/a | 500,000 | — | |||||||||||||||||||||||||||||
Martine Gerow(1) | 596,998 | 596,998 | — | |||||||||||||||||||||||||||||
Goal Weighting | | | 2022 Target Goal | | | 2022 Actual Performance | |
Financial — 50% | | ||||||
Adjusted EBITDA Growth(1) | | | $470 million | | | $567 million | |
Adjusted EBITDA Fall Through(2) | | | 63% | | | 55% | |
Customer & Colleagues — 25% | | ||||||
Client Net Promoter Score | | | Performance met target goal | | |||
Win/Loss Ratio | | | Record new wins with high customer retention exceeded target goal | | |||
Employee Engagement Level | | | Colleague engagement survey results exceeded target engagement levels | | |||
Strategic Initiatives — 25% | | ||||||
Mergers & Acquisitions Delivery — Synergies | | | Significant progress integrating Egencia, exceeded synergy target goal | | |||
U.S. SME Growth (Win/Loss Ratio)(3) | | | Strong momentum in the growth of U.S. SME, which delivered results ahead of our target goal | | |||
Digital Interactions Growth | | | Continued to innovate our products and services and exceeded target goal | | |||
Diversity, Equity & Inclusion Employee Sentiment(4) | | | Employee responses were 5% above the best-in-class target goal | | |||
Sustainability | | | Achieved target of Platinum Accreditation and successful launch of the Sustainable Aviation Fuel program | |
Goal Weighting | Target | 2023 Actual Performance | ||||||||||||
70% | Financial | |||||||||||||
45% | Adjusted EBITDA(1) | $330M | $380M | |||||||||||
25% | Cash from Operations less Capex | $(98)M | $49M | |||||||||||
15% | Customer | |||||||||||||
5% | Client NPS(2) | Exceeded our maximum performance level by delivering strong customer satisfaction and NPS results | Exceeds Target | |||||||||||
5% | Net New Wins(3) | Exceeded our maximum performance level though record new wins with high customer retention | Exceeds Target | |||||||||||
5% | Sustainability | Exceeded our sustainability targets by maintaining our EcoVadis Platinum accreditation and successfully growing the SAF(4) program, selling out the 1 million gallons of available SAF. Enhanced our comprehensive program of sustainability solutions. | Exceeds Target | |||||||||||
15% | Colleagues | |||||||||||||
5% | Employee Engagement Level | Continued strong employee engagement by meeting our objective of best-in-class standard | Meets Target | |||||||||||
5% | Diversity, Equity & Inclusion | DE&I exceeded our maximum performance level at 7 points above best-in-class standard | Exceeds Target | |||||||||||
5% | High Performing Retention (Manager & Above) | Employee retention exceeded our maximum performance level | Exceeds Target |
Name | | | Fiscal Year 2022 Bonus Target (% of Base Salary) | | | Combined Performance Rating Factor (%)(1) | | | Fiscal Year 2022 Bonus Paid (% of Base Salary) | | | Fiscal Year 2022 Cash Bonus ($)(2) | | ||||||||||||
Paul Abbott | | | | | 200 | | | | | | 150 | | | | | | 300 | | | | | | 3,630,900 | | |
Martine Gerow | | | | | 100 | | | | | | 150 | | | | | | 150 | | | | | | 874,048 | | |
Andrew Crawley | | | | | 100 | | | | | | 150 | | | | | | 150 | | | | | | 1,180,043 | | |
Michael Qualantone | | | | | 100 | | | | | | 150 | | | | | | 150 | | | | | | 975,000 | | |
Eric J. Bock | | | | | 100 | | | | | | 150 | | | | | | 150 | | | | | | 975,000 | | |
Name | Fiscal Year 2023 Bonus Target (% of Base Salary) | Combined Performance Rating Factor (%)(1) | Fiscal Year 2023 Bonus Paid (% of Base Salary) | Fiscal Year 2023 Cash Bonus ($)(2) | ||||||||||||||||||||||||||||||||||
Paul Abbott | 200 | 133 | 266 | 3,386,712 | ||||||||||||||||||||||||||||||||||
Karen Williams | 100 | 130 | 130 | 680,000 | ||||||||||||||||||||||||||||||||||
Andrew Crawley | 100 | 133 | 133 | 1,100,000 | ||||||||||||||||||||||||||||||||||
Eric J. Bock | 100 | 138 | 138 | 900,000 | ||||||||||||||||||||||||||||||||||
Patricia Huska | 100 | 140 | 140 | 700,000 | ||||||||||||||||||||||||||||||||||
NEO(1) | Options Cancelled | Options Exercised | RSUs Granted | ||||||||
Paul Abbott | 2,983,535 | - | 632,911 | ||||||||
Andrew Crawley | 1,243,136 | - | 263,713 | ||||||||
Eric J. Bock | - | 1,928,496 | 1,265,822 | ||||||||
Patricia Huska | 1,497,888 | 175,317 | 861,462 | ||||||||
Martine Gerow | 1,066,555 | - | 210,970 |
Annual RSUs | Exchange Offer RSUs | Supplemental RSUs | Total Equity | |||||||||||||||||||||||
Paul Abbott | 1,097,178 | 632,911 | - | 1,730,089 | ||||||||||||||||||||||
Karen Williams | 70,532 | - | 178,082 | 248,614 | ||||||||||||||||||||||
Andrew Crawley | 470,219 | 263,713 | - | 733,932 | ||||||||||||||||||||||
Eric J. Bock | 235,109 | 1,265,822 | - | 1,500,931 | ||||||||||||||||||||||
Patricia Huska | 274,294 | 861,462 | - | 1,135,756 | ||||||||||||||||||||||
Martine Gerow | - | 210,970 | - | 210,970 |
Covered Person | Applicable Stock Ownership Guideline | |||||||||
Chief Executive Officer | ||||||||||
Other Executive Officers | ||||||||||
Non-Employee Members of the Board of Directors | 5x annual cash retainer |
Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($)(1) | | | Stock Awards ($)(2) | | | Option Awards ($) | | | Non-Equity Incentive Plan Compensation ($)(3) | | | All Other Compensation ($) | | | Total ($) | | ||||||||||||||||||||||||
Paul Abbott, Chief Executive Officer(4) | | | | | 2022 | | | | | | 1,236,667 | | | | | | 2,000,000 | | | | | | 6,000,000 | | | | | | — | | | | | | 3,630,900 | | | | | | 101,632(5) | | | | | | 12,969,199 | | |
| | | 2021 | | | | | | 1,233,717 | | | | | | 4,000,000 | | | | | | — | | | | | | 9,000,000 | | | | | | 4,050,255 | | | | | | 115,001 | | | | | | 18,398,973 | | | ||
| | | 2020 | | | | | | 1,072,751 | | | | | | 2,756,540 | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,168,879 | | | | | | 4,998,170 | | | ||
Martine Gerow, Chief Financial Officer(4)(6) | | | | | 2022 | | | | | | 564,970 | | | | | | 1,000,000 | | | | | | 3,366,358 | | | | | | — | | | | | | 874,048 | | | | | | 72,547(7) | | | | | | 5,877,923 | | |
Andrew Crawley, President(4) | | | | | 2022 | | | | | | 806,000 | | | | | | 1,000,000 | | | | | | 2,999,992 | | | | | | — | | | | | | 1,180,043 | | | | | | 69,395(8) | | | | | | 6,055,430 | | |
| | | 2021 | | | | | | 804,318 | | | | | | 1,250,000 | | | | | | — | | | | | | 3,750,000 | | | | | | 1,140,000 | | | | | | 70,818 | | | | | | 7,015,136 | | | ||
| | | 2020 | | | | | | 471,122 | | | | | | 447,938 | | | | | | — | | | | | | — | | | | | | — | | | | | | 635,011 | | | | | | 1,554,071 | | | ||
Michael Qualantone, Former Chief Revenue Officer(6)(9) | | | | | 2022 | | | | | | 650,000 | | | | | | 1,000,000 | | | | | | 5,672,920(10) | | | | | | 2,480,246(10) | | | | | | 975,000 | | | | | | 37,200(11) | | | | | | 10,815,366 | | |
| | | 2021 | | | | | | 578,750 | | | | | | 500,000 | | | | | | — | | | | | | 3,448,920 | | | | | | 1,000,000 | | | | | | 36,400 | | | | | | 5,564,070 | | | ||
Eric J. Bock, Chief Legal Officer, Global Head of Mergers & Acquisitions and Compliance and Corporate Secretary(6) | | | | | 2022 | | | | | | 636,538 | | | | | | 1,000,000 | | | | | | 3,303,156 | | | | | | — | | | | | | 975,000 | | | | | | 37,200(12) | | | | | | 5,951,894 | | |
Name and Principal Position | Year | Salary ($) | Bonus ($)(1) | Stock Awards ($)(2) | Option Awards ($) | Non-Equity Incentive Plan Compensation ($)(3) | Non-qualified Deferred Compensation Earnings ($) | All other Compensation ($) | Total ($) | ||||||||||||||||||||||||||
Paul Abbott (4) Chief Executive Officer | 2023 | 1,240,000 | 2,000,000 | 11,499,993 | (5) | - | 3,416,052 | - | 103,458 | (6) | 18,259,503 | ||||||||||||||||||||||||
2022 | 1,236,667 | 2,000,000 | 6,000,000 | - | 3,630,900 | - | 101,632 | 12,969,199 | |||||||||||||||||||||||||||
2021 | 1,233,717 | 4,000,000 | - | 9,000,000 | 4,050,255 | - | 115,001 | 18,398,973 | |||||||||||||||||||||||||||
Karen Williams (4)(7) Chief Financial Officer | 2023 | 477,400 | 199,733 | 1,749,993 | (8) | - | 685,929 | - | 8,928 | (9) | 3,121,983 | ||||||||||||||||||||||||
Andrew Crawley (4) President | 2023 | 806,000 | 1,000,000 | 4,874,996 | (10) | - | 1,109,591 | - | 69,395 | (11) | 7,859,982 | ||||||||||||||||||||||||
2022 | 806,000 | 1,000,000 | 2,999,992 | - | 1,180,043 | - | 69,395 | 6,055,430 | |||||||||||||||||||||||||||
2021 | 804,318 | 1,250,000 | - | 3,750,000 | 1,140,000 | - | 70,818 | 7,015,136 | |||||||||||||||||||||||||||
Eric J. Bock Chief Legal Officer, Global Head of Mergers & Acquisitions and Compliance and Corporate Secretary | 2023 | 650,000 | 1,000,000 | 10,499,990 | (12) | - | 900,000 | - | 13,200 | (13) | 13,063,190 | ||||||||||||||||||||||||
2022 | 636,538 | 1,000,000 | 3,303,156 | - | 975,000 | - | 37,200 | 5,951,894 | |||||||||||||||||||||||||||
2021 | 578,750 | 500,000 | - | 3,448,920 | 1,000,000 | - | 36,400 | 5,564,070 | |||||||||||||||||||||||||||
Patrica Huska Chief People Officer | 2023 | 500,000 | 583,333 | 7,874,991 | (14) | - | 700,000 | - | 13,200 | (13) | 9,671,524 | ||||||||||||||||||||||||
Martine Gerow (4)(15) Former Chief Financial Officer | 2023 | 348,249 | - | 1,499,997 | (16) | - | - | - | 7,068 | (17) | 1,855,314 | ||||||||||||||||||||||||
2022 | 564,970 | 1,000,000 | 3,366,358 | - | 874,048 | - | 43,424 | 5,848,800 | |||||||||||||||||||||||||||
2021 | 506,900 | 500,000 | - | 3,270,900 | 900,000 | - | 132,144 | 5,309,944 | |||||||||||||||||||||||||||
| | | | | | | | | | | | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards(2) | | | Estimated Future Payouts Under Equity Incentive Plan Awards(3) | | | All Other Stock Awards: Number of Shares of Stock or Units (#) | | | All Other Stock Awards: Number of Securities Underlying Options | | | Exercise or Base Price of Option Awards ($) | | | Grant Date Fair Value of Stock and Option Awards ($) | | ||||||||||||||||||||||||||||||||||||||||||
Name | | | Grant Date(1) | | | Approval Date | | | Threshold ($) | | | Target ($) | | | Maximum ($) | | | Threshold (#) | | | Target (#) | | | Maximum (#) | | ||||||||||||||||||||||||||||||||||||||||||||||||
Paul Abbott | | | | | 8/12/2022 | | | | | | 6/21/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 390,625(4) | | | | | | — | | | | | | — | | | | | | 3,000,000 | | |
| | | 8/12/2022 | | | | | | 6/21/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 390,625(5) | | | | | | — | | | | | | — | | | | | | 3,000,000 | | | ||
| | | | | | | | | | | | | | | — | | | | | | 2,480,000 | | | | | | 3,720,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Martine Gerow | | | | | 8/12/2022 | | | | | | 6/21/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 195,312(4) | | | | | | — | | | | | | — | | | | | | 1,499,996 | | |
| | | 8/12/2022 | | | | | | 6/21/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 195,312(5) | | | | | | — | | | | | | — | | | | | | 1,499,996 | | | ||
| | | 8/12/2022 | | | | | | 6/21/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 21,686(6) | | | | | | — | | | | | | — | | | | | | 166,548 | | | ||
| | | 5/27/2022 | | | | | | (7) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 22,706(8) | | | | | | 45,413(8) | | | | | | — | | | | | | — | | | | | | — | | | | | | 199,817 | | | ||
| | | | | | | | | | | | | | | — | | | | | | 596,998 | | | | | | 1,193,996 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Andrew Crawley | | | | | 8/12/2022 | | | | | | 6/21/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 195,312(4) | | | | | | — | | | | | | — | | | | | | 1,499,996 | | |
| | | 8/12/2022 | | | | | | 6/21/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 195,312(5) | | | | | | — | | | | | | — | | | | | | 1,499,996 | | | ||
| | | | | | | | | | | | | | | — | | | | | | 806,000 | | | | | | 1,612,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Michael Qualantone | | | | | 8/12/2022 | | | | | | 6/21/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 195,312(4) | | | | | | — | | | | | | — | | | | | | 2,546,868(9) | | |
| | | 8/12/2022 | | | | | | 6/21/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 195,312(5) | | | | | | — | | | | | | — | | | | | | 2,546,868(9) | | | ||
| | | 8/12/2022 | | | | | | 6/21/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 35,940(6) | | | | | | — | | | | | | — | | | | | | 276,019 | | | ||
| | | 5/27/2022 | | | | | | (7) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 34,450(10) | | | | | | 68,901(10) | | | | | | — | | | | | | — | | | | | | — | | | | | | 303,164 | | | ||
| | | | | | | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,480,246(11) | | | ||
| | | | | | | | | | | | | | | — | | | | | | 650,000 | | | | | | 1,300,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Eric J. Bock | | | | | 8/12/2022 | | | | | | 6/21/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 195,312(4) | | | | | | — | | | | | | — | | | | | | 1,499,996 | | |
| | | 8/12/2022 | | | | | | 6/21/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 195,312(5) | | | | | | — | | | | | | — | | | | | | 1,499,996 | | | ||
| | | 5/27/2022 | | | | | | (7) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 34,450(12) | | | | | | 68,901(12) | | | | | | — | | | | | | — | | | | | | — | | | | | | 303,164 | | | ||
| | | | | | | | | | | | | | | — | | | | | | 650,000 | | | | | | 1,300,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
All Other Stock Awards: Number of Shares of Stock or Units (#) | Grant Date Fair Value of Stock and Option Awards ($) | ||||||||||||||||||||||
Estimated Future Payouts Under Non-Equity Incentive Plan Awards (1) | |||||||||||||||||||||||
Name | Grant Date | Award Purpose | Threshold ($) | Target ($) | Maximum ($) | ||||||||||||||||||
Paul Abbott | 1/26/2023 | Exchange Offer RSUs | 632,911(2) | 4,499,997 | |||||||||||||||||||
3/10/2023 | Annual RSUs | 1,097,178(3) | 6,999,996 | ||||||||||||||||||||
- | 2,480,000 | 3,720,000 | |||||||||||||||||||||
Karen Williams | 3/10/2023 | Annual RSUs | 70,532(3) | 449,994 | |||||||||||||||||||
7/18/2023 | Supplemental RSUs | 178,082(4) | 1,299,999 | ||||||||||||||||||||
- | 508,400 | 1,016,800 | |||||||||||||||||||||
Andrew Crawley | 1/26/2023 | Exchange Offer RSUs | 263,713(2) | 1,874,999 | |||||||||||||||||||
3/10/2023 | Annual RSUs | 470,219(3) | 2,999,997 |
- | 806,000 | 1,612,000 | |||||||||||||||||||||
Eric J. Bock | 1/30/2023 | Exchange Offer RSUs | 1,265,822(2) | 8,999,994 | |||||||||||||||||||
3/10/2023 | Annual RSUs | 235,109(3) | 1,499,995 | ||||||||||||||||||||
- | 650,000 | 1,300,000 | |||||||||||||||||||||
Patricia Huska | 1/26/2023 | Exchange Offer RSUs | 861,462(2) | 6,124,995 | |||||||||||||||||||
3/10/2023 | Annual RSUs | 274,294(3) | 1,749,996 | ||||||||||||||||||||
- | 500,000 | 1,000,000 | |||||||||||||||||||||
Martine Gerow | 1/26/2023 | Exchange Offer RSUs | 210,970(2) | 1,499,997 | |||||||||||||||||||
- | 596,998 | 1,193,996 | |||||||||||||||||||||
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||
Name | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of Shares or Units of Stock That Have Not Vested (#) | | | Market Value of Shares or Units of Stock That Have Not Vested ($)(1) | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(2) | | ||||||||||||||||||||||||
Paul Abbott | | | | | 994,512(3) | | | | | | 1,989,023(3) | | | | | | 10.03 | | | | | | 12/2/2031 | | | | | | 390,625(4) | | | | | | 2,636,719 | | | | | | — | | | | | | — | | |
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 390,625(5) | | | | | | 2,636,719 | | | | | | — | | | | | | — | | | ||
Martine Gerow | | | | | 355,518(3) | | | | | | 711,037(3) | | | | | | 10.03 | | | | | | 12/2/2031 | | | | | | 195,312(4) | | | | | | 1,318,356 | | | | | | — | | | | | | — | | |
| | | 184,084(6) | | | | | | 122,722(6) | | | | | | 14.58 | | | | | | 9/25/2029 | | | | | | 195,312(5) | | | | | | 1,318,356 | | | | | | — | | | | | | — | | | ||
| | | 964,248(7) | | | | | | — | | | | | | 6.72 | | | | | | 5/23/2027 | | | | | | 21,686 | | | | | | 146,381 | | | | | | — | | | | | | — | | | ||
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 45,413(8) | | | | | | 306,538 | | | ||
Andrew Crawley | | | | | 414,379(3) | | | | | | 828,757(3) | | | | | | 10.03 | | | | | | 12/2/2031 | | | | | | 195,312(4) | | | | | | 1,318,356 | | | | | | — | | | | | | — | | |
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 195,312(5) | | | | | | 1,318,356 | | | | | | — | | | | | | — | | | ||
Michael Qualantone(9) | | | | | 371,303(3) | | | | | | 742,606(3) | | | | | | 10.03 | | | | | | 12/2/2031 | | | | | | 195,312(4) | | | | | | 1,318,356 | | | | | | — | | | | | | — | | |
| | | 305,053(6) | | | | | | 203,369(6) | | | | | | 14.58 | | | | | | 9/25/2029 | | | | | | 195,312(5) | | | | | | 1,318,356 | | | | | | — | | | | | | — | | | ||
| | | 350,635(10) | | | | | | 87,659(10) | | | | | | 7.23 | | | | | | 3/13/2028 | | | | | | 35,940 | | | | | | 242,595 | | | | | | — | | | | | | — | | | ||
| | | 596,081(11) | | | | | | — | | | | | | 6.37 | | | | | | 9/30/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 385,699(11) | | | | | | — | | | | | | 5.74 | | | | | | 3/30/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 68,901(12) | | | | | | 465,082 | | | ||
Eric J. Bock | | | | | 331,503(3) | | | | | | 663,005(3) | | | | | | 10.03 | | | | | | 12/2/2031 | | | | | | 195,312(4) | | | | | | 1,318,356 | | | | | | — | | | | | | — | | |
| | | 525,953(13) | | | | | | — | | | | | | 6.69 | | | | | | 5/24/2026 | | | | | | 195,312(5) | | | | | | 1,318,356 | | | | | | — | | | | | | — | | | ||
| | | 1,402,543(11) | | | | | | — | | | | | | 5.74 | | | | | | 3/30/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 68,901(14) | | | | | | 465,082 | | |
Option Awards | Stock Awards | |||||||||||||||||||||||||
Name | Number of Securities Underlying Unexercised Options (#) Exercisable | Number of Securities Underlying Unexercised Options (#) Unexercisable | Option Exercise Price ($) | Option Expiration Date | Number of Shares or Units of Stock That Have Not Vested (#) | Market Value of Shares or Units of Stock That Have Not Vested ($)(1) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(2) | ||||||||||||||||||
Paul Abbott | - | - | - | - | 1,097,178(4) | 7,076,798 | - | - | ||||||||||||||||||
- | - | - | - | 632,911(5) | 4,082,276 | - | - | |||||||||||||||||||
- | - | - | - | 390,625(6) | 2,519,531 | - | - | |||||||||||||||||||
Karen Williams | - | - | - | - | 178,082(7) | 1,148,629 | - | - | ||||||||||||||||||
- | - | - | - | 70,532(4) | 454,931 | - | - | |||||||||||||||||||
- | - | - | - | 51,609(8) | 332,878 | - | - | |||||||||||||||||||
Andrew Crawley | - | - | - | - | 470,219(4) | 3,032,913 | - | - | ||||||||||||||||||
- | - | - | - | 263,713(5) | 1,700,949 | - | - | |||||||||||||||||||
- | - | - | - | 195,312(6) | 1,259,762 | - | - | |||||||||||||||||||
Eric J. Bock | 663,005(3) | 331,503(3) | 10.03 | 12/2/2031 | 235,109(4) | 1,516,453 | - | - | ||||||||||||||||||
- | - | - | - | 1,265,822(5) | 8,164,552 | - | - | |||||||||||||||||||
- | - | - | - | 195,312(6) | 1,259,762 | - | - | |||||||||||||||||||
- | - | - | - | - | - | 68,901(10) | 444,411 | |||||||||||||||||||
Patricia Huska | - | - | - | - | 274,294(4) | 1,769,196 | - | - | ||||||||||||||||||
- | - | - | - | 861,462(5) | 5,556,430 | - | - | |||||||||||||||||||
- | - | - | - | 8,263(9) | 53,296 | - | - | |||||||||||||||||||
- | - | - | - | 113,932(6) | 734,861 | - | - | |||||||||||||||||||
- | - | - | - | - | - | 37,583(11) | 242,410 | |||||||||||||||||||
Martine Gerow | - | - | - | - | - | - | 41,028(10) | 264,631 | ||||||||||||||||||
Option Awards | Stock Awards | |||||||||||||
Name | Number of Shares Acquire on Exercise (#)(1) | Value Realized on Exercise ($) | Number of Shares Acquire on Vesting (#) | Value Realized on Vesting ($) | ||||||||||
Paul Abbott | - | - | 390,625 | 2,597,656 | ||||||||||
Karen Williams | - | - | 25,804 | 188,111 | ||||||||||
Andrew Crawley | - | - | 195,312 | 1,298,825 | ||||||||||
Eric J. Bock | 1,928,496 | 2,142,384 | 195,312 | 1,298,825 | ||||||||||
Patricia Huska | 175,317 | 162,869 | 118,063 | 786,772 | ||||||||||
Martine Gerow | - | - | - | 1,349,789 |
Name | | | Benefit | | | Involuntary Termination Not in Connection with a Change in Control ($) | | | Involuntary Termination in Connection with a Change in Control ($) | | | Death ($) | | | Disability ($) | | ||||||||||||
Paul Abbott | | | Base Salary | | | | | 1,240,000(1) | | | | | | 2,480,000(2) | | | | | | — | | | | | | 1,240,000(1) | | |
| | | Bonus | | | | | 6,110,900(3) | | | | | | 8,590,900(4) | | | | | | — | | | | | | 6,110,900(3) | | |
| | | Equity | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | Options(5) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | RSUs(6) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | Health Benefits | | | | | 27,636(7) | | | | | | 55,272(8) | | | | | | — | | | | | | 27,636(8) | | |
| | | Total | | | | | 7,378,536 | | | | | | 11,126,172 | | | | | | — | | | | | | 7,378,536 | | |
Martine Gerow(9) | | | Base Salary | | | | | 596,998(1) | | | | | | 1,193,996(2) | | | | | | — | | | | | | 596,998(1) | | |
| | | Bonus | | | | | 1,193,996(10) | | | | | | 1,790,994(11) | | | | | | — | | | | | | 1,193,996(10) | | |
| | | Equity | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | Options(5) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | RSUs(6) | | | | | 48,796(12) | | | | | | 146,381(13) | | | | | | 146,381(13) | | | | | | 48,796(12) | | |
| | | Health Benefits | | | | | 8,700(8) | | | | | | 13,050(15) | | | | | | — | | | | | | 8,700(8) | | |
| | | Total | | | | | 1,848,490 | | | | | | 3,144,421 | | | | | | 146,381 | | | | | | 1,848,490 | | |
Andrew Crawley | | | Base Salary | | | | | 806,000(1) | | | | | | 1,612,000(2) | | | | | | — | | | | | | 806,000(1) | | |
| | | Bonus | | | | | 1,612,000(10) | | | | | | 2,418,000(11) | | | | | | — | | | | | | 1,612,000(10) | | |
| | | Equity | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | Options(5) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | RSUs(6) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | Health Benefits | | | | | 8,700(8) | | | | | | 13,050(15) | | | | | | — | | | | | | 8,700(8) | | |
| | | Total | | | | | 2,426,700 | | | | | | 4,043,050 | | | | | | — | | | | | | 2,426,700 | | |
Michael Qualantone(16) | | | — | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Eric J. Bock | | | Base Salary | | | | | 650,000(1) | | | | | | 1,300,000(2) | | | | | | — | | | | | | 650,000(1) | | |
| | | Bonus | | | | | 1,625,000(3) | | | | | | 2,275,000(4) | | | | | | — | | | | | | 1,625,000(3) | | |
| | | Equity | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | Options(5) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | RSUs(6) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | Health Benefits | | | | | 23,040(17) | | | | | | 34,560(18) | | | | | | — | | | | | | 23,040(17) | | |
| | | Total | | | | | 2,298,040 | | | | | | 3,609,560 | | | | | | — | | | | | | 2,298,040 | | |
Name | Benefit | Involuntary Termination Not in Connection with a Change in Control ($) | Involuntary Termination in Connection with a Change in Control ($) | Death ($) | Disability ($) | ||||||||||||||||||||||||
Paul Abbott | Base Salary | 1,240,000 | (1) | 2,480,000 | (2) | - | 1,240,000 | (1) | |||||||||||||||||||||
Bonus | 5,866,712 | (3) | 8,346,712 | (4) | - | 5,866,712 | (3) | ||||||||||||||||||||||
Equity | - | - | - | - | |||||||||||||||||||||||||
Options(5) | - | - | - | - | |||||||||||||||||||||||||
RSUs(6) | 3,719,690 | (7) | 11,159,074 | (8) | 11,159,074 | (8) | 3,719,690 | (9) | |||||||||||||||||||||
Health Benefits | 31,332 | (10) | 62,664 | (11) | - | 31,332 | (10) | ||||||||||||||||||||||
Total | 11,191,022 | 22,381,738 | 11,159,074 | 11,191,022 | |||||||||||||||||||||||||
Karen Williams | Base Salary | 508,400 | (1) | 1,016,800 | (2) | - | 508,400 | (1) | |||||||||||||||||||||
Bonus | 1,188,400 | (3) | 1,696,800 | (4) | - | 1,016,800 | (3) | ||||||||||||||||||||||
Equity | - | - | - | - | |||||||||||||||||||||||||
Options | - | - | - | - | |||||||||||||||||||||||||
RSUs(6) | 700,948 | (7) | 1,936,438 | (8) | 1,936,438 | (8) | 700,948 | (7) | |||||||||||||||||||||
Health Benefits | 9,852 | (10) | 14,778 | (12) | - | 9,852 | (10) | ||||||||||||||||||||||
Total | 2,163,029 | 4,420,245 | 1,936,438 | 2,236,000 | |||||||||||||||||||||||||
Andrew Crawley | Base Salary | 806,000 | (1) | 1,612,000 | (2) | - | 806,000 | (1) | |||||||||||||||||||||
Bonus | 1,612,000 | (13) | 2,418,000 | (14) | - | 1,612,000 | (13) | ||||||||||||||||||||||
Equity | - | - | - | - | |||||||||||||||||||||||||
Options(5) | - | - | - | - | |||||||||||||||||||||||||
RSUs(6) | 1,577,948 | (7) | 4,733,862 | (8) | 4,733,862 | (8) | 1,577,948 | (7) | |||||||||||||||||||||
Health Benefits | 9,852 | (10) | 14,778 | (12) | - | 9,852 | (10) | ||||||||||||||||||||||
Total | 4,005,800 | 8,778,640 | 4,733,862 | 4,005,800 | |||||||||||||||||||||||||
Eric J. Bock | Base Salary | 650,000 | (1) | 1,300,000 | (2) | - | 650,000 | (1) | |||||||||||||||||||||
Bonus | 1,625,000 | (3) | 2,275,000 | (4) | - | 1,300,000 | (3) | ||||||||||||||||||||||
Equity | - | - | - | - | |||||||||||||||||||||||||
Options(5)(15) | - | - | - | - | |||||||||||||||||||||||||
RSUs(6) | 3,226,993 | (7) | 9,681,005 | (8) | 9,681,005 | (8) | 3,226,993 | (7) | |||||||||||||||||||||
Health Benefits | 24,433 | (16) | 36,649 | (17) | - | 24,433 | (16) | ||||||||||||||||||||||
Total | 5,526,426 | 13,292,654 | 9,681,005 | 5,201,426 | |||||||||||||||||||||||||
Patricia Huska(18) | Base Salary | 500,000 | (1) | 1,000,000 | (2) | - | 500,000 | (1) | |||||||||||||||||||||
Bonus | 1,250,000 | (3) | 1,750,000 | (4) | - | 1,250,000 | (3) | ||||||||||||||||||||||
Equity | - | - | - | - | |||||||||||||||||||||||||
Options(5) | - | - | - | - | |||||||||||||||||||||||||
RSUs(6) | 2,468,524 | (7) | 7,378,922 | (8) | 7,378,922 | (8) | 2,468,524 | (7) | |||||||||||||||||||||
Health Benefits | 24,430 | (16) | 36,645 | (17) | - | 24,430 | (16) | ||||||||||||||||||||||
Total | 4,242,954 | 10,165,567 | 7,378,922 | 4,242,954 | |||||||||||||||||||||||||
Martine Gerow(19) | - | - | - | - | - | ||||||||||||||||||||||||
Argentina (68) | Hungary (38) | Poland (356) | ||||||
China (12) | Ireland (8) | Slovakia (12) | ||||||
Colombia (53) | Italy (82) | Taiwan (92) | ||||||
Czechia (54) | Philippines (24) | Thailand (118) |
Year | | | SCT Total for PEO ($)(1) | | | Compensation Actually Paid to PEO ($)(2) | | | Average SCT Total for non- PEO NEOs ($)(3) | | | Average Compensation Actually Paid to Non-PEO NEOs ($)(4) | | | Value of Initial Fixed $100 Investment Based On: | | | Net Income/ (Loss) ($mm) | | | Adjusted EBITDA Growth ($mm)(6) | | |||||||||||||||||||||||||||
| Total Shareholder Return ($)(5) | | | Peer Total Shareholder Return ($)(5) | | ||||||||||||||||||||||||||||||||||||||||||||
2022 | | | | | 12,969,199 | | | | | | 7,548,541 | | | | | | 7,175,154 | | | | | | 3,946,604 | | | | | | 81 | | | | | | 89 | | | | | | (229) | | | | | | 567 | | |
Year | SCT Total for PEO ($)(1) | Compensation Actually Paid to PEO ($)(2) | Average SCT Total for non- PEO NEOs ($)(3) | Average Compensation Actually Paid to Non-PEO NEOs ($)(4) | Value of Initial Fixed $100 Investment Based On: | Net Income/ (Loss) ($M) | Adjusted EBITDA ($M)(6) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Shareholder Return ($)(5) | Peer Total Shareholder Return ($)(5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 18,259,503 | 14,003,080 | 7,114,399 | 5,039,112 | 77 | 123 | -136 | 380 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 12,969,199 | 7,548,541 | 7,175,154 | 3,946,604 | 81 | 89 | -229 | 103 |
| | | | | | | | | | | | | | | Equity Addition to SCT Total | | | | | | | | |||||||||||||||||||||
Year | | | SCT Total ($) | | | Less Equity Deduction From SCT Total ($)(7) | | | Value of Current Year Equity Awards at 12/31 ($)(8) | | | Change in Value of Unvested Prior Year Awards at 12/31 ($)(9) | | | Change in Value of Prior Year Awards That Vested In Current Year ($)(10) | | | Total Equity Addition/ Deduction to SCT Total ($) | | | Total Compensation Actually Paid ($)(11) | | |||||||||||||||||||||
2022 | | | | | 12,969,199 | | | | | | (6,000,000) | | | | | | 5,273,438 | | | | | | (2,605,620) | | | | | | (2,088,475) | | | | | | 579,342 | | | | | | 7,548,541 | | |
Equity Addition to SCT Total | ||||||||||||||||||||||||||
SCT Total | Less Equity Deduction From SCT Total | Value of Current Year Equity Awards at 12/31 | Change in Value of Unvested Prior Year Awards at 12/31 | Change in Value of Prior Year Awards That Vested In Current Year | Less Prior Value of Unvested Equity Awards That Were Canceled or Forfeited in Current Year | Total Equity Addition/ Deduction to SCT Total | Total Compensation Actually Paid | |||||||||||||||||||
Year | ($) | ($)(7) | ($)(8) | ($) (9) | ($)(10) | ($)(11) | ($) | ($)(12) | ||||||||||||||||||
2023 | 18,259,503 | (11,499,993) | 11,159,074 | (117,188) | (39,062) | (3,759,253) | 7,243,571 | 14,003,080 | ||||||||||||||||||
2022 | 12,969,199 | (6,000,000) | 5,273,438 | (2,605,620) | (2,088,475) | 0 | 579,343 | 7,548,541 |
| | | | | | | | | | | | | | | Equity Addition to SCT Total(12) | | | | | | | | |||||||||||||||||||||
Year | | | SCT Total ($) | | | Less Equity Deduction From SCT Total ($)(13) | | | Value of Current Year Equity Awards at 12/31 ($)(8) | | | Change in Value of Unvested Prior Year Awards at 12/31 ($)(9) | | | Change in Value of Prior Year Awards That Vested In Current Year ($)(10) | | | Total Equity Addition/ Deduction to SCT Total ($) | | | Total Compensation Actually Paid ($)(11) | | |||||||||||||||||||||
2022 | | | | | 7,175,154 | | | | | | (4,455,667) | | | | | | 2,914,422 | | | | | | (1,067,523) | | | | | | (619,782) | | | | | | 1,227,117 | | | | | | 3,946,604 | | |
Equity Addition to SCT Total | ||||||||||||||||||||||||||
SCT Total | Less Equity Deduction From SCT Total | Value of Current Year Equity Awards at 12/31 | Change in Value of Unvested Prior Year Awards at 12/31 | Change in Value of Prior Year Awards That Vested In Current Year | Less Prior Value of Unvested Equity Awards That Were Canceled or Forfeited in Current Year | Total Equity Addition/ Deduction to SCT Total | Total Compensation Actually Paid | |||||||||||||||||||
Year | ($) | ($)(7) | ($)(8) | ($) (9) | ($)(10) | ($)(11) | ($) | ($)(12) | ||||||||||||||||||
2023 | 7,114,399 | (5,299,993) | 4,668,811 | (46,189) | (3,078) | (1,394,837) | 3,224,707 | 5,039,112 | ||||||||||||||||||
2022 | 7,175,154 | (4,455,667) | 2,914,422 | (1,067,523) | (619,782) | 0 | 1,227,117 | 3,946,604 |
Valuation Purpose for Pay Versus Performance | | | GBTG Stock Price Range | | | GBTG Option Exercise Price Range | | | Expected Term Range (years) | | | Stock Price Volatility Range | | | Risk-free Rate Range | | | Dividend Yield | | | Option Fair Value Range | |
Year-end 2021 | | | $9.48 | | | $6.72 – $14.58 | | | 2.75 – 5.92 | | | 35% – 45% | | | 0.91% – 1.34% | | | 0% | | | $1.76 – $4.06 | |
2022 Vesting | | | $5.28 – $8.19 | | | $6.72 – $14.58 | | | 2.45 – 5.00 | | | 40% – 50% | | | 2.61% – 4.17% | | | 0% | | | $0.70 – $3.11 | |
Year-end 2022 | | | $6.75 | | | $7.23 – $14.58 | | | 2.63 – 4.94 | | | 40% – 45% | | | 4.00% – 4.29% | | | 0% | | | $1.03 – $2.03 | |
Date | | | GBTG Stock Price | | | Comment | | |||
December 31, 2021 | | | | $ | 9.48 | | | | Year-end 2021 appraised value | |
April 1, 2022 | | | | $ | 8.19 | | | | Vesting date for options with an exercise price of $7.23 | |
May 27, 2022 | | | | $ | 7.39 | | | | Closing of the Business Combination and grant of Earnout Shares | |
May 31, 2022 | | | | $ | 8.37 | | | | First day of public trading of GBTG Class A Common Stock | |
July 1, 2022 | | | | $ | 5.16 | | | | Vesting date for options with an exercise price of $6.72 | |
August 11, 2022 | | | | $ | 7.68 | | | | Closing price used to determine RSU grants on August 12, 2022 | |
October 1, 2022 | | | | $ | 5.66 | | | | Vesting date for options with an exercise price of $14.58 | |
December 2, 2022 | | | | $ | 5.28 | | | | Vesting date for options with an exercise price of $10.03 | |
December 30, 2022 | | | | $ | 6.75 | | | | Closing price for the final trading day in 2022 | |
| | Cash Retainer ($) | | Meeting Fee Premium ($) | | Restricted Stock Unit Awards ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Retainer ($) | Cash Retainer ($) | Meeting Fee Premium ($) | Restricted Stock Unit Awards ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Board | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Chair | | | | 485,000 | | | | | — | | | | | 160,000 | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Directors | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Directors | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Directors | | | | 85,000 | | | | | — | | | | | 160,000 | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Audit and Finance Committee | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Audit and Finance Committee | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Audit and Finance Committee | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chair | | | | 15,000 | | | | | 2,000 | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Other Members | | | | 15,000 | | | | | 2,000 | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Other Members | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Members | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Compensation Committee | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Compensation Committee | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Compensation Committee | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Chair | | | | 15,000 | | | | | 2,000 | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Members | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Members | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Members | | | | 10,000 | | | | | 2,000 | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Nominating and Corporate Governance Committee | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Nominating and Corporate Governance Committee | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nominating and Corporate Governance Committee | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chair | | | | 10,000 | | | | | 2,000 | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Other Members | | | | 10,000 | | | | | 2,000 | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Other Members | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Members | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management and Compliance Committee | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management and Compliance Committee | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management and Compliance Committee | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Chair | | | | 10,000 | | | | | 2,000 | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Chair | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Members | | | | 10,000 | | | | | 2,000 | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||
Other Members | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Members |
Name | | | Fees Earned or Paid in Cash ($) | | | Stock Awards ($) | | | Total ($) | | |||||||||
Mohammed Saif S.S. Al-Sowaidi | | | | | 146,651 | | | | | | 160,000 | | | | | | 306,651 | | |
Ugo Arzani(1) | | | | | 81,233 | | | | | | — | | | | | | 81,233 | | |
James P. Bush(2) | | | | | 169,151 | | | | | | 160,000 | | | | | | 329,151 | | |
Philippe Chérèque(1) | | | | | 81,233 | | | | | | — | | | | | | 81,233 | | |
Marc D. Gordon(1)(5) | | | | | 81,233 | | | | | | — | | | | | | 81,233 | | |
Gloria Guevara(3) | | | | | 63,274 | | | | | | 160,000 | | | | | | 223,274 | | |
Eric Hart(4) | | | | | 131,651 | | | | | | 160,000 | | | | | | 291,651 | | |
Raymond Donald Joabar(5) | | | | | 139,151 | | | | | | 160,000 | | | | | | 299,151 | | |
Glenda McNeal(1)(5) | | | | | 81,233 | | | | | | — | | | | | | 81,233 | | |
Michael Gregory O’Hara(6) | | | | | 594,493 | | | | | | 160,000 | | | | | | 754,493 | | |
Richard Petrino(5) | | | | | 139,151 | | | | | | 160,000 | | | | | | 329,151 | | |
Itai Wallach(7) | | | | | 55,774 | | | | | | — | | | | | | 55,774 | | |
Susan Ward | | | | | 161,651 | | | | | | 160,000 | | | | | | 321,651 | | |
Kathleen Winters(8) | | | | | 82,024 | | | | | | 160,000 | | | | | | 242,024 | | |
Name | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Total ($) | ||||||||||||||
Mohammed Saif S.S. Al Sowaidi | 105,000 | 160,000 | 265,000 | ||||||||||||||
James P. Bush (1) | 137,000 | 160,000 | 297,000 | ||||||||||||||
Gloria Guevara (2) | 104,000 | 160,000 | 264,000 | ||||||||||||||
Eric Hart | 85,000 | 160,000 | 245,000 | ||||||||||||||
Raymond Donald Joabar | 95,000 | 160,000 | 255,000 | ||||||||||||||
Michael Gregory O'Hara (3) | 515,000 | 160,000 | 675,000 | ||||||||||||||
Richard Petrino | 95,000 | 160,000 | 255,000 | ||||||||||||||
Itai Wallach (4) | 91,000 | — | 91,000 | ||||||||||||||
Susan Ward | 140,500 | 160,000 | 300,500 | ||||||||||||||
Kathleen Winters(5) | 131,000 | 160,000 | 291,000 |
Plan Category | | | Number of securities to be issued upon exercise of outstanding options, warrants and rights(1) | | | Weighted-average exercise price of outstanding options, warrants and rights | | | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))(2) | | |||||||||
Equity compensation plans approved by security holders: | | | | | 47,686,422 | | | | | $ | 7.66 | | | | | | 47,650,535 | | |
Equity compensation plans not approved by security holders: | | | | | — | | | | | | — | | | | | | — | | |
Total | | | | | 47,686,422 | | | | | $ | 7.66 | | | | | | 47,650,535 | | |
Plan Category | Number of securities to be issued upon exercise of outstanding options, warrants and rights(1) | Weighted-average exercise price of outstanding options, warrants and rights | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))(2) | |||||||||||||||||||||||||||||
Equity compensation plans approved by security holders: | 44,025,231 | $ | 6.99 | 45,332,266 | ||||||||||||||||||||||||||||
Equity compensation plans not approved by security holders: | — | — | — | |||||||||||||||||||||||||||||
Total | 44,025,231 | $ | 6.99 | 45,332,266 | ||||||||||||||||||||||||||||
| | | Year Ended December 31, | | |||||||||
($ in millions except percentages) | | | 2022 | | | 2021 | | ||||||
Revenue (A) | | | | | 1,851 | | | | | | 763 | | |
Net loss | | | | | (229) | | | | | | (475) | | |
Interest income | | | | | — | | | | | | (1) | | |
Interest expense | | | | | 98 | | | | | | 53 | | |
Loss on early extinguishment of debt | | | | | — | | | | | | 49 | | |
Benefit from income taxes | | | | | (61) | | | | | | (186) | | |
Depreciation and amortization | | | | | 182 | | | | | | 154 | | |
Restructuring charges(a) | | | | | (3) | | | | | | 14 | | |
Integration costs(b) | | | | | 34 | | | | | | 22 | | |
Mergers and acquisitions(c) | | | | | 18 | | | | | | 14 | | |
Equity-based compensation(d) | | | | | 39 | | | | | | 3 | | |
Fair value movements on earnouts and warrants derivative liabilities(e) | | | | | (8) | | | | | | — | | |
Other adjustments, net(f) | | | | | 33 | | | | | | 13 | | |
Adjusted EBITDA (B) | | | | | 103 | | | | | | (340) | | |
Baseline Adjusted EBITDA for annual variable compensation (C) | | | | | (464) | | | | | | | | |
Actual Adjusted EBITDA Growth (D) = (B) – (C) | | | | | 567 | | | | | | | | |
Target Adjusted EBITDA Growth (E) | | | | | 470 | | | | | | | | |
% achieved of Target Adjusted EBITDA Growth (D) / (E) | | | | | 121% | | | | | | | | |
| | | Year Ended December 31, | | |||||||||
($ in millions except percentages) | | | 2022 | | | 2021 | | ||||||
Revenue | | | | | 1,851 | | | | | | 763 | | |
Egencia and constant currency adjustments | | | | | 47 | | | | | | 117 | | |
Baseline Revenue for annual variable compensation | | | | | 1,898 | | | | | | 880 | | |
Increase in baseline Revenue (A) | | | | | 1,018 | | | | | | | | |
Actual Adjusted EBITDA Growth (B) | | | | | 567 | | | | | | | | |
Actual Adjusted EBITDA Fall Through (C) = (B) / (A) | | | | | 55% | | | | | | | | |
Target Adjusted EBITDA Fall Through (D) | | | | | 63% | | | | | | | | |
% achieved of Target Adjusted EBITDA Fall Through (C) / (D) | | | | | 87% | | | | | | | | |