| NOTICE OF 2022 ANNUAL MEETING OF STOCKHOLDERS | |
| Date and Time: Wednesday, May 11, 2022, at 9:00 a.m., Eastern Time | |
| Access: Our Annual Meeting can be accessed virtually via the Internet at www.virtualshareholdermeeting.com/SITE2022 | |
| Record Date: March 15, 2022 | |
| Business To Be Conducted: | |
| • Elect the three Class III nominees named in the accompanying Proxy Statement as Class III directors for a term expiring at the 2025 Annual Meeting of Stockholders. | |
| • Ratify the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending January 1, 2023. | |
| • Hold a non-binding advisory vote to approve executive compensation. | |
| • Transact such other business as may properly come before the 2022 Annual Meeting of Stockholders or any reconvened meeting following any adjournment or postponement thereof. | |
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| THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE YOUR SHARES “FOR” THE ELECTION OF EACH OF THE DIRECTOR NOMINEES NAMED IN THE PROXY STATEMENT AND “FOR” EACH OF THE OTHER ABOVE PROPOSALS. | | |
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| | | | L. Briley Brisendine Executive Vice President, General Counsel and Secretary March 30, | |
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| GOVERNANCE | | | | | | | |
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| AUDIT MATTERS | | | | | | | |
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| COMPENSATION | | | | | | | |
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| GENERAL INFORMATION | | | | | | | |
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| ① | | | | |
| ② | | | | |
| ③ | | | Continuously Improving — We quickly adopt best practices to drive growth and deliver world-class results. | |
| ④ | | | Team Players — We respect and support each other and put the | |
| ⑤ | | | Professional — We do everything with quality and integrity and never cut corners. | |
| ⑥ | | | Talent Focused — We recruit, develop, mentor and retain the best people. | |
| ⑦ | | | Accountable — We think and act like owners and leverage our resources to succeed. | |
Board Independence | | | Board Diversity | | ||||||
86% | | | 6 of 7directors are independent | | | 57% | | | 4 of 7 directors are women or from diverse backgrounds 2 of 7 directors are women | |
Board Refreshment | | | Average Tenure (in years) | | ||||||
43% | | | 3 of 7directors have been added since 2017 | | | 51∕2 | | | Average director tenure | |
| Independent Committees | | | • All of our committees are | |
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Empowered Lead Director | | | • Our independent directors elect our independent Lead Director | ||
• Our Lead Director has | |||||
serving as liaison between independent directors and the Chairman; | |||||
chairing executive sessions of | |||||
consulting with the CEO on matters relating to management effectiveness and Board performance | | ||||
| Board Leadership Evaluation and Succession Planning | | | • The Board annually evaluates the CEO’s performance | |
• The Board annually conducts a rigorous review and assessment of the succession planning process for the CEO and other executive officers | | ||||
| Majority Vote Threshold | | | • Our Charter and By-laws may be amended by a majority vote of our stockholders | |
| Board & Committee Evaluations | | | • | |
| Limits on Outside Board Service | | | • Outside directors are limited to service on four other public company boards | |
• Currently, our CEO does not serve on any other public company boards | | ||||
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| | • Our insider trading policy | |||
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| No “Poison Pill” | | | • We do not have a “poison pill” plan in place | |
| Executive Sessions | | | • | |
• In | |||||
• At least once a year, the independent directors meet in an executive session | | ||||
| ESG Reporting | | | • We publicly disclose an annual ESG Report aligned with the SASB and TCFD frameworks | |
| What We Do | | |||||||||
| ✔ | | | Strong emphasis on performance-based compensation, with a significant portion of NEOs’ overall compensation tied to Company performance | | | ✔ | | | Human Resources and Compensation Committee, like all of the Board committees, comprised solely of independent directors | |
| ✔ | | | Aggressive yet achievable performance goals | | | ✔ | | | Balanced measures tied to Adjusted EBITDA, Company Net Promoter Score, Organic Daily Sales growth and individual strategic performance in the annual incentive plan and relative earnings growth and ROIC in the PSU awards | |
| ✔ | | | Mix of short-term and long-term incentives, with performance awards representing a meaningful portion of long-term incentive pay (increased from 25% to 33% of LTIP in 2021) | | | ✔ | | | Human Resources and Compensation Committee advised by independent compensation consultant who performs no other services for the Company | |
| ✔ | | | Short-term annual cash incentives for NEOs limited to 250% and 150% of target, for EBITDA and other metrics, respectively | | | ✔ | | | Meaningful stock ownership requirements for executives and non-employee directors | |
| ✔ | | | Double-trigger change-in-control cash severance benefits and long-term incentive equity benefits | | | ✔ | | | Robust clawback policy for incentive compensation paid to our executive officers, including the ability to clawback for fraud, misconduct or illegal activity | |
| What We Don’t Do | | |||||||||
| | | Grant discounted stock options or reprice stock options without stockholder approval | | | | | Allow hedging, pledging or short sales | | ||
| | | Gross up excise taxes that may become due upon a change in control | | | | | Guarantee incentive awards for executives | | ||
| | | Provide incentives that encourage excessive risk-taking | | | | | Provide perquisites for executives | | ||
| | | Grant “spring-loaded” equity awards to take advantage of information that may enhance their value to recipients | | | | | | | |
Name | | | Position with SiteOne | | ||||
| | Director | | |||||
| | Director | | |||||
| | Director | |
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| | | THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” EACH OF THE | ||||||||
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Name | | | Age | | | Principal Occupation and Other Information | |
| | | | Fred M. Diaz has served as one of our directors since August 2017. From April 2018 to March 2020, Mr. Diaz served as President, Chief Executive Officer and Chairman of the Board of Mitsubishi Motors North America, Inc. He previously served in executive management roles at Nissan, most recently as Division Vice President and General Manager, North America, Trucks and Commercial Vehicles, of Nissan North America, Inc. Prior to that, Mr. Diaz served as Senior Vice President, Sales, Marketing and Operations, of Nissan USA. Before joining Nissan in 2013, Mr. Diaz spent 24 years at Chrysler Corporation, where he held a number of executive management roles, including President and Chief Executive Officer of Chrysler’s Ram Truck brand and President and Chief Executive Officer, Chrysler de Mexico and Latin America. He currently serves as a member of the Board of Directors of Archer Aviation, Smith & Wesson Brands and Valero Energy. He is also a National Association of Corporate Directors (“NACD”) Board Leadership Fellow. Mr. Diaz is a graduate of Texas Lutheran University and holds an M.B.A. from Central Michigan University. Mr. Diaz’s extensive experience in sales, operations, marketing and management qualify him to serve on the Board. | | ||
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| W. Roy Dunbar | | | 60 | | | W. Roy Dunbar has served as one of our directors since March 2017. He was Chairman of the Board of Network Solutions, a technology company and web service provider, and was the Chief Executive Officer from January 2008 until October 2009. Mr. Dunbar also served as the President of Global Technology and Operations for MasterCard Incorporated from September 2004 until January 2008. Prior to MasterCard, Mr. Dunbar worked at Eli Lilly and Company for 14 years, serving as President of Intercontinental Operations, and earlier as Chief Information Officer. He currently serves on the Board of Directors of Johnson Controls International, PLC and Duke Energy and previously served on the boards of Humana Inc., Lexmark International and iGate. Mr. Dunbar was named to NACD Directorship 100 in 2015 and is a NACD Board Leadership Fellow. He is a graduate of Manchester University in the United Kingdom and holds an M.B.A. from Manchester Business School. Mr. Dunbar’s strong leadership skills, service as a director and compensation committee member of other public companies and deep experience across a number of functional disciplines, including the application of information technology across different business sectors, qualify him to serve on the Board. | |
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Name | | | Age | | | Principal Occupation and Other Information | |
Larisa J. Drake | | | 50 | | | Larisa J. Drake has served as one of our directors since May 2019. Ms. Drake is currently Executive Vice President and Chief Marketing Officer at Equity LifeStyle Properties, a publicly traded real estate investment trust that owns and operates over 400 communities in North America. Ms. Drake has held positions of increasing responsibility in marketing and sales since joining Equity LifeStyle Properties in 2013. Prior to that, Ms. Drake was an officer at Discover Financial Services where she led marketing initiatives over the course of 14 years for Discover Card, the third largest credit card brand in the United States. Before joining Discover, Ms. Drake was part of the advertising agency, Leo Burnett. She holds a B.S. in Communication Studies from Northwestern University; an M.L.A. from The University of Chicago; and an M.B.A. from the Kellogg School of Management. Ms. Drake’s expertise in delivering business results by leveraging both traditional and technology-driven marketing strategies qualify her to serve on our Board. | |
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Name | | | Age | | | Principal Occupation and Other Information | |
William (Bill) W. Douglas III | | | 61 | | | William (Bill) W. Douglas III serves as our Lead Director and has been one of our directors since April 2016. In June 2016, Mr. Douglas retired as Executive Vice President of Coca-Cola Enterprises, Inc. (“CCE”). During Mr. Douglas’s tenure at CCE, it was one of the largest independent bottlers and distributors for The Coca-Cola Company and operated across the United States and Western Europe. Mr. Douglas served as Executive Vice President, Supply Chain at CCE until April 2015. Prior to that, he was Executive Vice President & Chief Financial Officer of CCE from May 2008 to November 2013, Senior Vice President and Chief Financial Officer of CCE from May 2005 to May 2008, and Vice President, Controller and Principal Accounting Officer from July 2004 until May 2005. Prior to joining CCE, Mr. Douglas served as Chief Financial Officer of Coca-Cola HBC, one of the largest bottlers of non-alcoholic beverages in Europe. He currently serves on the Board of Directors of Coca-Cola Hellenic. Mr. Douglas received a degree in Accounting from the J.M. Tull School of Accounting at the University of Georgia. Mr. Douglas’s extensive executive, financial reporting, mergers and acquisitions, and supply chain experience qualify him to serve on the Board. | |
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| Jeri L. Isbell | | | 64 | | | Jeri L. Isbell has served as one of our directors since October 2016. She was Vice President-Human Resources and Corporate Communications at Lexmark International, Inc., a leading developer, manufacturer, and supplier of printing, imaging, device management, managed print services, document workflow and business process, and content management solutions, a position she held from 2003 until her retirement in December 2016. During her 24-year tenure at Lexmark, she also held a number of leadership positions including Vice President of Compensation and Benefits, Vice President of Finance and Division Chief Financial Officer, and U.S. Controller. Ms. Isbell began her career at IBM. She currently serves as a member of the Board of Directors of Atkore International Group Inc. Ms. Isbell holds a B.B.A. in Accounting from Eastern Kentucky University and an M.B.A. from Xavier University. She is a certified public accountant. Ms. Isbell was honored with a NACD Directorship 100 designation in 2021, is also a NACD Board Leadership Fellow and is NACD Directorship Certified™. Ms. Isbell’s human resources and communications leadership positions provide the Board with insight into key issues and market practices in these areas for public companies. | |
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Name | | | Age | | | Principal Occupation and Other Information | |
Doug Black | | | 57 | | | Doug Black has served as SiteOne’s Chief Executive Officer since April 2014, and as the Chairman of | |
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Jack L. Wyszomierski | | | | | ||||
Jack L. Wyszomierski has served as one of our directors since April 2016. From June 2004 to June 2009, Mr. Wyszomierski served as the Executive Vice President and Chief Financial Officer of VWR International, LLC, a supplier of laboratory supplies, equipment and supply chain solutions to the global research laboratory industry. From 1982 to 2003, Mr. Wyszomierski held positions of increasing responsibility within the finance group at Schering-Plough Corporation, a health care company, culminating with his appointment as Executive Vice President and Chief Financial Officer in 1996. Prior to joining Schering-Plough, he was responsible for capitalization planning at Joy Manufacturing Company, a producer of mining equipment, and was a management consultant at Data Resources, Inc. Mr. Wyszomierski currently serves on the |
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| | | | | Doug Black (Chairman) | | | Bill Douglas (Lead Director) | | | Fred Diaz | | | Larisa Drake | | | Roy Dunbar | | | Jeri Isbell | | | Jack Wyszomierski | |
| Retail | | | | | | | | | | ✓ | | | | | | | | | | | | | |
| Finance/Former CFO | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | ✓ | |
| Marketing & Branding | | | | | | | ✓ | | | ✓ | | | ✓ | | | | | | | | | | |
| Manufacturing | | | | ✓ | | | ✓ | | | ✓ | | | | | | | | | ✓ | | | ✓ | |
| Wholesale Distribution | | | | ✓ | | | ✓ | | | | | | | | | | | | | | | ✓ | |
| CEO/Former CEO | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | | |
| eCommerce/ Technology | | | | | | | | | | | | | ✓ | | | ✓ | | | | | | | |
| Construction/Building Products | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | |
| Human Resources | | | | | | | | | | | | | | | | | | | ✓ | | | | |
| | | | | Doug Black (Chairman) | | | Bill Douglas (Lead Director) | | | Fred Diaz | | | Larisa Drake | | | Roy Dunbar | | | Jeri Isbell | | | Jack Wyszomierski | |
| Racial/Ethnic Diversity | | | | | | | | | | | | | | | | | | | | | | | |
| Black/African American | | | | | | | | | | | | | | | | ✓ | | | | | | | |
| Hispanic | | | | | | | | | | ✓ | | | | | | | | | | | | | |
| White | | | | ✓ | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | ✓ | |
| Gender | | | | | | | | | | | | | | | | | | | | | | | |
| Female | | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | |
| Male | | | | ✓ | | | ✓ | | | ✓ | | | | | | ✓ | | | | | | ✓ | |
Director | | Audit(1) | | Compensation(2) | | Nominating and Corporate Governance(3) | | | Audit | | Human Resources and Compensation | | Nominating and Corporate Governance | | |||||||||||||||
William (Bill) W. Douglas, III | | | | ✓* | | | | | | | | | | ✓ | | | |||||||||||||
William (Bill) W. Douglas III | | ✓* | | | | | | ||||||||||||||||||||||
Fred M. Diaz | | ✓ | | ✓ | | | | ||||||||||||||||||||||
Larisa J. Drake | | | | | | ✓ | | ||||||||||||||||||||||
W. Roy Dunbar | | | | | | | | | ✓ | | | | | | | | | | | ✓ | | | | ||||||
Michael J. Grebe | | | | ✓ | | | | | ✓ | | | | | | | | |||||||||||||
Jeri L. Isbell | | | | | | | | | ✓* | | | | | ✓ | | | | | | ✓* | | ✓ | | ||||||
Jack L. Wyszomierski | | | | ✓ | | | | | | | | | | ✓* | | | | ✓ | | | | ✓* | | ||||||
Number of Meetings | | | | 8 | | | | | 5 | | | | | 4 | | | | 8 | | 5 | | 4 | |
Name | | Age | | Present Positions | | First Became an Officer | | | Age | | Present Positions | | First Became an Executive Officer | | ||||||
Doug Black | | 53 | | Chief Executive Officer, Director | | 2014 | | | 57 | | Chief Executive Officer, Chairman | | 2014 | | ||||||
John Guthrie | | 52 | | Executive Vice President, Chief Financial Officer and Assistant Secretary | | 2001 | | | 56 | | Executive Vice President, Chief Financial Officer and Assistant Secretary | | 2001 | | ||||||
Pascal Convers | | 53 | | Executive Vice President, Strategy, Development and Investor Relations | | 2014 | | |||||||||||||
Ross Anker | | 54 | | Executive Vice President, Category Management, Marketing and IT | | 2014 | | |||||||||||||
Briley Brisendine | | 47 | | Executive Vice President, General Counsel and Secretary | | 2015 | | | 51 | | Executive Vice President, General Counsel and Secretary | | 2015 | | ||||||
Scott Salmon | | 54 | | Executive Vice President, Strategy and Development | | 2019 | | |||||||||||||
Joseph Ketter | | 49 | | Senior Vice President, Human Resources | | 2015 | | | 53 | | Executive Vice President, Human Resources | | 2015 | |
| | | | Recommendation of the Board THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE RATIFICATION OF THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS THE COMPANY’S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE 2022 FISCAL YEAR. | | |
| | | 2021 | | | 2020 | | ||||||
Audit fees(1) | | | | $ | 1,475,000 | | | | | $ | 1,470,000 | | |
Audit-related fees(2) | | | | | 63,000 | | | | | | 98,500 | | |
All other fees(3) | | | | | 3,790 | | | | | | 3,790 | | |
Total Fees | | | | $ | 1,541,790 | | | | | $ | 1,572,290 | | |
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| | | THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE APPROVAL OF THE | ||||||||
| |
| ✔ | | | Strong emphasis on performance-based compensation, with a significant portion of NEOs’ overall compensation tied to Company performance | | | ✔ | | | Human Resources and Compensation Committee, like all of the Board committees, comprised solely of independent directors | |
| ✔ | | | Aggressive yet achievable performance goals | | | ✔ | | | Balanced measures tied to Adjusted EBITDA, Company Net Promoter Score, Organic Daily Sales growth and individual strategic performance in the annual incentive plan and relative earnings and ROIC in the PSU awards | |
| ✔ | | | Mix of short-term and long-term incentives, with performance awards representing a meaningful portion of long-term incentive pay (increased from 25% to 33% of LTIP in 2021) | | | ✔ | | | Human Resources and Compensation Committee advised by independent compensation consultant who performs no other services for the Company | |
| ✔ | | | Short-term annual cash incentives for NEOs limited to 250% and 150% of target, for EBITDA and other metrics, respectively | | | ✔ | | | Meaningful stock ownership requirements for executives and non-employee directors | |
| ✔ | | | Double-trigger change-in-control cash severance and long-term incentive equity benefits | | | ✔ | | | Robust clawback policy for incentive compensation paid to our executive officers including the ability to clawback for fraud, misconduct, or illegal activity | |
| | | Grant discounted stock options or reprice awards without stockholder approval | | | | | Allow hedging, pledging or short sales | | ||
| | | Gross up excise taxes that may become due upon a change in control | | | | | Guarantee incentive awards for executives | | ||
| | | Provide incentives that encourage excessive risk-taking | | | | | Provide perquisites for executives | | ||
| | | Grant “spring-loaded” equity awards to take advantage of information that may enhance their value to recipients | | | | | | | |
| Advanced Drainage Systems, Inc. | | ||||||
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| Applied Industrial Technologies, Inc. | | | Installed Building Products, Inc. | | |||
| Beacon Roofing Supply, Inc. | | | MSC Industrial Direct Co., Inc. | | |||
| BMC Stock Holdings, Inc. | | | Pool Corporation | | |||
| Central Garden & Pet Company | | | Summit Materials, Inc. | | |||
| DXP Enterprises, Inc. | | | The Scotts Miracle-Gro Company | | |||
| Eagle Materials Inc. | | | TopBuild Corp. | | |||
| Foundation Building Materials(1)(2) | | | Watsco Inc. | | |||
| GMS Inc. | | | | |
Pay Component | | | Objective of Pay Component | | ||||
Base Salary | | | • To attract and retain a high-performing leadership team | | ||||
Short-Term Annual Cash Incentives | | | • To reward achievement of short-term business objectives and results, such as Adjusted EBITDA, | | ||||
Long-Term Equity Awards | | | • To align executive and stockholder interests, create “ownership | |
Other Benefits | | | • To provide a safety net of protection in the case of illness, disability, death or retirement, through health, disability and life insurance, 401(k) retirement plan and other employee benefits | |
| | | 2020 Base Salary | | | 2021 Base Salary | | | 2021 Salary Increase | | |||||||||
Doug Black | | | | $ | 850,000 | | | | | $ | 850,000 | | | | | | 0% | | |
John Guthrie(1) | | | | $ | 400,000 | | | | | $ | 450,000 | | | | | | 12.5% | | |
Briley Brisendine | | | | $ | 430,000 | | | | | $ | 445,000 | | | | | | 3.5% | | |
Scott Salmon(2) | | | | $ | 360,000 | | | | | $ | 375,000 | | | | | | 4.2% | | |
Joseph Ketter | | | | $ | 340,000 | | | | | $ | 350,000 | | | | | | 2.9% | | |
Greg Weller(3) | | | | $ | 340,000 | | | | | $ | 370,000 | | | | | | 8.8% | | |
| | Threshold(1) | | Target(1) | | Stretch(1) | | Actual Percentage of Target(2) | | | Threshold(1) | | Target(1) | | Maximum(1) | | Actual(1) | | ||||||||||||||||||||||||||||||||
Doug Black | | | | 62.5% | | | | | 125% | | | | | 187.5% | | | | | 81% | | | | | | 62.5% | | | | | 125% | | | | | 275% | | | | | 258% | | | ||||||||
John Guthrie | | | | 30% | | | | | 60% | | | | | 90% | | | | | 84% | | | | | | 30% | | | | | 60% | | | | | 132% | | | | | 125% | | | ||||||||
Pascal Convers | | | | 30% | | | | | 60% | | | | | 90% | | | | | 84% | | | |||||||||||||||||||||||||||||
Briley Brisendine | | | | 30% | | | | | 60% | | | | | 90% | | | | | 89% | | | | | | 30% | | | | | 60% | | | | | 132% | | | | | 127% | | | ||||||||
Ross Anker | | | | 30% | | | | | 60% | | | | | 90% | | | | | 85% | | | |||||||||||||||||||||||||||||
Scott Salmon | | | | 30% | | | | | 60% | | | | | 132% | | | | | 125% | | | |||||||||||||||||||||||||||||
Joseph Ketter | | | | 30% | | | | | 60% | | | | | 132% | | | | | 125% | | | |||||||||||||||||||||||||||||
Greg Weller(2) | | | | 31% | | | | | 62% | | | | | 136% | | | | | 127% | | |
| | | | | Adjusted EBITDA(1) | | Company Safety and Individual Performance(2) | | | Adjusted EBITDA(1) | | Company NPS(2) | | Organic Daily Sales Growth(2) | | National Account Growth(2) | | Strategic Performance(2)(3) | | |||||||||||||||||||||||||||||
| | | Doug Black | | | | 90% | | | | | 10%(3) | | | ||||||||||||||||||||||||||||||||||
| | | John Guthrie | | | | 80% | | | | | 20% | | | ||||||||||||||||||||||||||||||||||
| | | Pascal Convers | | | | 80% | | | | | 20% | | | ||||||||||||||||||||||||||||||||||
| | | Briley Brisendine | | | | 80% | | | | | 20% | | | ||||||||||||||||||||||||||||||||||
| | | Ross Anker | | | | 80% | | | | | 20% | | | ||||||||||||||||||||||||||||||||||
Doug Black | | | | 70% | | | | | 5% | | | | | 5% | | | | | — | | | | | 20% | | | ||||||||||||||||||||||
John Guthrie | | | | 70% | | | | | 5% | | | | | 5% | | | | | — | | | | | 20% | | | ||||||||||||||||||||||
Briley Brisendine | | | | 70% | | | | | 5% | | | | | 5% | | | | | — | | | | | 20% | | | ||||||||||||||||||||||
Scott Salmon | | | | 70% | | | | | 10% | | | | | — | | | | | 10% | | | | | 10% | | | ||||||||||||||||||||||
Joe Ketter | | | | 70% | | | | | 5% | | | | | 5% | | | | | — | | | | | 20% | | | ||||||||||||||||||||||
Greg Weller | | | | 70% | | | | | 5% | | | | | 7.5% | | | | | — | | | | | 17.5% | | |
Adjusted EBITDA(1) | | | Level of Achievement | | | | |||||||||||
Threshold | | | | $ | | | | | | 50% | | | |||||
Target | | | | $ | | | | | | 100% | | | |||||
Stretch | | | | $ | | | | | | 150% | | | |||||
| | | $ | | | | | | 250% | | | ||||||
Actual | | | | $ | 415 million | | | | | | 245% | | |
Company NPS(1) | | | Level of Achievement | | | Multiple of Target Opportunity | | ||||||
Threshold | | | | | 65 | | | | | | 50% | | |
Target | | | | | 76 | | | | | | 100% | | |
Maximum | | | | | 80 | | | | | | 150% | | |
Actual | | | | | 77 | | | | | | 109% | | |
Organic Daily Sales Growth(1) | | | Level of Achievement | | | Multiple of Target Opportunity | | ||||||
Threshold | | | | | 4.2% | | | | | | 50% | | |
Target | | | | | 6.2% | | | | | | 100% | | |
Maximum | | | | | 8.2% | | | | | | 150% | | |
Actual | | | | | 21.6% | | | | | | 150% | | |
| | | | Level of Achievement | | Factors Supporting Level of Achievement | | |||
Doug Black | | | SiteOne Safety | | | 100% | | | • Decreased lost time incident rate • Enhanced safety programs | |
| | | | | • Increased leader and overall diversity • • Active ARGs and D&I programs | | ||||
| Key Business Focus Areas | | | 150% | | | • Strong progress with commercial and operational initiatives and building team and systems infrastructure | | ||
John Guthrie | | | Accounting and Internal Audit | | | 125% | | | • Excellent progress in process automation and past due reduction | |
| | | FP&A and Performance Management | | 125% | | | • | | |
| | | Diversity and Inclusion | | 100% | | | • Increased leadership diversity • | | |
Briley Brisendine | | | SiteOne Safety | | | 100% | | | • Decreased lost time incident rate • Enhanced safety | |
| | | Governance, Field Support and Risk Management | | 150% | | | • Publication of enhanced ESG Report • • Responsiveness and | | |
| | | Real Estate and Regulatory | | 125% | | | • Enhanced regulatory team • • Completed facilities maintenance pilot program | |
Name | | | Individual Performance Categories | | | Level of Achievement | | | Factors Supporting Level of Achievement | |
Scott Salmon | | | Strategy and Acquisition Growth / Performance | | | 100% | | | • Number of completed acquisitions • Financial performance of acquired companies • Enhanced strategy and development team, including new integration leader | |
Joe Ketter | | | SiteOne Safety | | | 100% | | | • Decreased lost time incident rate • Enhanced safety programs | |
| | | Diversity and Inclusion | | | 75% | | | • Increased leader and overall diversity • Increased bilingual branches from 41% to 45%, short of 51% goal • Active ARGs and D&I programs | |
| | | Team Development | | | 150% | | | • Management of COVID-19 response • Enhanced onboarding and training programs | |
Greg Weller | | | Supply Chain Excellence | | | 150% | | | • Successful distribution facility expansion • Excellent product availability despite supplier challenges • Rollout of transportation management system | |
| | | Operations Excellence & Acquisition Integration | | | 50% | | | • Under target on operational excellence progress • Progress on acquisition integration quality and speed | |
| | | Diversity and Inclusion | | | 100% | | | • Good progress on diversity • Leader of BRIDGE ARG, support of D&I programs | |
Name | | | Number of Options Awarded | | | Number of RSUs Awarded | | | Number of PSUs Awarded | | | Targeted Fair Value for All 2021 Awards | | ||||||||||||
Doug Black | | | | | 20,764 | | | | | | 6,018 | | | | | | 6,018 | | | | | $ | 3,000,000 | | |
John Guthrie | | | | | 3,979 | | | | | | 1,153 | | | | | | 1,153 | | | | | $ | 575,000 | | |
Briley Brisendine | | | | | 4,325 | | | | | | 1,253 | | | | | | 1,253 | | | | | $ | 625,000 | | |
Scott Salmon | | | | | 3,806 | | | | | | 1,103 | | | | | | 1,103 | | | | | $ | 550,000 | | |
Joseph Ketter | | | | | 3,287 | | | | | | 952 | | | | | | 952 | | | | | $ | 475,000 | | |
Greg Weller(1) | | | | | 4,143 | | | | | | 1,628 | | | | | | 1,003 | | | | | $ | 700,000 | | |
Performance Level | | | Relative EBTA Growth | | | % Target Award | | | Performance Level | | | Avg. ROIC | | | Modifier to PSUs Earned Based on Relative EBTA Growth(1) | |
<Threshold | | | <25th percentile | | | 0% | | | | | | | | | | |
Threshold | | | 25th percentile | | | 50% | | | Below Target | | | <12% | | | -20% | |
Target | | | 50th percentile | | | 100% | | | Target | | | 12%-20% | | | 0% | |
Maximum | | | >=75th percentile | | | 200% | | | Above Target | | | >20% | | | +20% | |
Position | | | Multiple | | ||||
Chief Executive Officer | | | | |||||
Covered Executives | | | 2x Annual Base Salary | |
Name and Principal Position | | Year | | Salary ($)(1) | | Bonus ($) | | Option Awards ($)(2) | | Stock Awards ($)(2) | | Non-Equity Incentive Plan Compensation ($)(3) | | All Other Compensation ($)(4) | | Total ($) | | | Year | | Salary ($)(1) | | Option Awards ($)(2) | | Stock Awards ($)(2) | | Non-Equity Incentive Plan Compensation ($)(3) | | All Other Compensation ($)(4) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doug Black Chairman and Chief Executive Officer | | | | | 2017 | | | | | 741,346 | | | | | — | | | | | 1,147,647 | | | | | 374,984 | | | | | 683,438 | | | | | 13,050 | | | | | 2,960,465 | | | | | | | 2021 | | | | | 850,000 | | | | | 997,710 | | | | | 1,999,781 | | | | | 2,188,749 | | | | | 12,553 | | | | | 6,048,793 | | | |||||||||||||
| | | 2016 | | | | | 695,308 | | | | | — | | | | | — | | | | | — | | | | | 875,000 | | | | | 1,272,828 | | | | | 2,843,136 | | | | | | 2020 | | | | | 855,769 | | | | | 1,034,506 | | | | | 1,349,850 | | | | | 1,623,182 | | | | | 12,252 | | | | | 4,875,559 | | | ||||||||||||||||
| | | 2015 | | | | | 678,625 | | | | | — | | | | | — | | | | | — | | | | | 1,077,895 | | | | | 18,114 | | | | | 1,774,634 | | | | | | 2019 | | | | | 798,462 | | | | | 1,063,281 | | | | | 1,149,941 | | | | | 1,039,631 | | | | | 16,248 | | | | | 4,067,563 | | | ||||||||||||||||
John Guthrie Executive Vice President and Chief Financial Officer | | | | | 2017 | | | | | 316,680 | | | | | — | | | | | 244,830 | | | | | 79,977 | | | | | 161,139 | | | | | 11,168 | | | | | 813,795 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2016 | | | | | 300,000 | | | | | — | | | | | — | | | | | — | | | | | 148,000 | | | | | 294,345 | | | | | 742,345 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2015 | | | | | 269,230 | | | | | — | | | | | — | | | | | — | | | | | 167,000 | | | | | 8,077 | | | | | 444,307 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Pascal Convers Executive Vice President, Strategy & Development | | | | | 2017 | | | | | 353,077 | | | | | — | | | | | 244,830 | | | | | 79,977 | | | | | 181,281 | | | | | 34,028 | | | | | 893,194 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2016 | | | | | 318,308 | | | | | — | | | | | — | | | | | — | | | | | 172,000 | | | | | 334,691 | | | | | 824,999 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2015 | | | | | 313,212 | | | | | — | | | | | — | | | | | — | | | | | 206,000 | | | | | 51,462 | | | | | 570,674 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Briley Brisendine Executive Vice President, General Counsel & Secretary | | | | | 2017 | | | | | 368,269 | | | | | — | | | | | 244,830 | | | | | 79,977 | | | | | 197,417 | | | | �� | 11,257 | | | | | 901,751 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2016 | | | | | 358,462 | | | | | — | | | | | 302,835 | | | | | — | | | | | 194,000 | | | | | 10,600 | | | | | 865,897 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2015 | | | | | 106,346 | | | | | 150,000 | | | | | 412,650 | | | | | — | | | | | — | | | | | 2,450 | | | | | 671,446 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ross Anker(5) Executive Vice President, Category Management, Marketing and IT | | | | | 2017 | | | | | 366,538 | | | | | — | | | | | 244,830 | | | | | 79,977 | | | | | 189,092 | | | | | 11,257 | | | | | 891,695 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2016 | | | | | 350,000 | | | | | — | | | | | — | | | | | — | | | | | 224,000 | | | | | 11,347 | | | | | 585,347 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
John Guthrie Executive Vice President, Chief Financial Officer | | | | | 2021 | | | | | 442,308 | | | | | 191,191 | | | | | 383,142 | | | | | 554,530 | | | | | 12,452 | | | | | 1,583,623 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 401,346 | | | | | 191,559 | | | | | 249,807 | | | | | 365,873 | | | | | 12,073 | | | | | 1,220,658 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 368,231 | | | | | 208,020 | | | | | 224,932 | | | | | 176,567 | | | | | 11,822 | | | | | 989,572 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Briley Brisendine Executive Vice President, General Counsel and Secretary | | | | | 2021 | | | | | 442,692 | | | | | 207,816 | | | | | 416,372 | | | | | 560,814 | | | | | 12,454 | | | | | 1,640,148 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 434,038 | | | | | 229,876 | | | | | 299,809 | | | | | 401,763 | | | | | 12,127 | | | | | 1,377,613 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 408,539 | | | | | 208,020 | | | | | 224,932 | | | | | 198,963 | | | | | 11,890 | | | | | 1,052,344 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Scott Salmon(5) Executive Vice President, Strategy and Development | | | | | 2021 | | | | | 377,019 | | | | | 182,878 | | | | | 366,527 | | | | | 470,801 | | | | | 12,334 | | | | | 1,409,559 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 364,808 | | | | | 191,559 | | | | | 249,807 | | | | | 310,049 | | | | | 12,011 | | | | | 1,128,234 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 285,385 | | | | | 423,288 | | | | | 459,993 | | | | | 137,705 | | | | | 10,968 | | | | | 1,317,339 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Joseph Ketter(6) Executive Vice President, Human Resources | | | | | 2021 | | | | | 348,462 | | | | | 157,940 | | | | | 316,350 | | | | | 436,166 | | | | | 12,293 | | | | | 1,271,211 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 340,615 | | | | | 172,400 | | | | | 224,806 | | | | | 313,161 | | | | | 11,974 | | | | | 1,062,956 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Greg Weller(7) Former Executive Vice President, Operations | | | | | 2021 | | | | | 366,250 | | | | | 216,276 | | | | | 483,297 | | | | | 465,530 | | | | | 11,979 | | | | | 1,543,332 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 342,308 | | | | | 172,400 | | | | | 224,806 | | | | | 309,284 | | | | | 11,974 | | | | | 1,060,772 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 311,923 | | | | | 196,258 | | | | | 214,038 | | | | | 151,722 | | | | | 16,006 | | | | | 889,947 | | |
| | | | | | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards(1) | | | All Other Option Awards: Number of Securities Underlying Options (#)(3) | | | All Other Stock Awards: Number of Securities Underlying Options (#)(4) | | | Exercise or Base Price of Option Awards ($) | | | Grant Date Fair Value of Stock and Option Awards ($)(5) | | |||||||||||||||||||||||||||
Name | | | Grant Date | | | Threshold ($) | | | Target ($) | | | Maximum ($)(2) | | ||||||||||||||||||||||||||||||||||||
Doug Black | | | | | | | | | | | 469,000 | | | | | | 938,000 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/17/17 | | | | | | | | | | | | | | | | | | | | | | | | 87,141 | | | | | | | | | | | | 38.73 | | | | | | 1,147,647 | | |
| | | | | 2/17/17 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,682 | | | | | | | | | | | | 374,984 | | |
John Guthrie | | | | | | | | | | | 96,000 | | | | | | 192,000 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/17/17 | | | | | | | | | | | | | | | | | | | | | | | | 18,590 | | | | | | | | | | | | 38.73 | | | | | | 244,830 | | |
| | | | | 2/17/17 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,065 | | | | | | | | | | | | 79,977 | | |
Pascal Convers | | | | | | | | | | | 108,000 | | | | | | 216,000 | | | | | | — | | | | | | | ||||||||||||||||||||
| | | | | 2/17/17 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 18,590 | | | | | | 38.73 | | | | | | 244,830 | | |
| | | | | 2/17/17 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,065 | | | | | | | | | | | | 79,977 | | |
Briley Brisendine | | | | | | | | | | | 111,000 | | | | | | 222,000 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/17/17 | | | | | | | | | | | | | | | | | | | | | | | | 18,590 | | | | | | | | | | | | 38.73 | | | | | | 244,830 | | |
| | | | | 2/17/17 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,065 | | | | | | | | | | | | 79,977 | | |
Ross Anker | | | | | | | | | | | 111,000 | | | | | | 222,000 | | | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/17/17 | | | | | | | | | | | | | | | | | | | | | | | | 18,590 | | | | | | | | | | | | 38.73 | | | | | | 244,830 | | |
| | | | | 2/17/17 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,065 | | | | | | | | | | | | 79,977 | | |
Name | | | Grant Date | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards(1) | | | Estimated Future Payouts Under Equity Incentive Plan Awards(3) | | | All Other Option Awards: Number of Securities Underlying Options (#)(4) | | | All Other Stock Awards: Number of Securities Underlying Awards (#)(5) | | | Exercise or Base Price of Awards ($) | | | Grant Date Fair Value of Stock and Option Awards ($)(6) | | |||||||||||||||||||||||||||||||||||||||||||||
| Threshold ($) | | | Target ($) | | | Maximum ($)(2) | | | Threshold (#) | | | Target (#) | | | Maximum (#) | | ||||||||||||||||||||||||||||||||||||||||||||||||||
Doug Black | | | | | — | | | | | | 531,250 | | | | | | 1,062,500 | | | | | | 2,337,500 | | | | | | — | | | | | | — | | | | | | —�� | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,018 | | | | | | 12,036 | | | | | | — | | | | | | — | | | | | | — | | | | | | 999,891 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 20,764 | | | | | | — | | | | | | 166.15 | | | | | | 997,710 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,018 | | | | | | — | | | | | | 999,891 | | |
John Guthrie | | | | | — | | | | | | 132,981 | | | | | | 265,961 | | | | | | 585,114 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,153 | | | | | | 2,306 | | | | | | — | | | | | | — | | | | | | — | | | | | | 191,571 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,979 | | | | | | — | | | | | | 166.15 | | | | | | 191,191 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,153 | | | | | | — | | | | | | 191,571 | | |
Briley Brisendine | | | | | — | | | | | | 132,894 | | | | | | 265,789 | | | | | | 584,736 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,253 | | | | | | 2,506 | | | | | | — | | | | | | — | �� | | | | | — | | | | | | 208,186 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,325 | | | | | | — | | | | | | 166.15 | | | | | | 207,816 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,253 | | | | | | — | | | | | | 208,186 | | |
Scott Salmon | | | | | — | | | | | | 113,337 | | | | | | 226,673 | | | | | | 498,681 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,103 | | | | | | 2,206 | | | | | | — | | | | | | — | | | | | | — | | | | | | 183,263 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,806 | | | | | | — | | | | | | 166.15 | | | | | | 182,878 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,103 | | | | | | — | | | | | | 183,263 | | |
Joseph Ketter | | | | | — | | | | | | 104,596 | | | | | | 209,192 | | | | | | 460,222 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 952 | | | | | | 1,904 | | | | | | — | | | | | | — | | | | | | — | | | | | | 158,175 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,287 | | | | | | — | | | | | | 166.15 | | | | | | 157,940 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 952 | | | | | | — | | | | | | 158,175 | | |
Greg Weller(7) | | | | | — | | | | | | 113,683 | | | | | | 227,365 | | | | | | 500,203 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 11/1/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 683 | | | | | | — | | | | | | 240.00 | | | | | | 50,023 | | |
| | | | | 11/1/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 625 | | | | | | — | | | | | | 150,000 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,003 | | | | | | 2,006 | | | | | | — | | | | | | — | | | | | | — | | | | | | 166,648 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,460 | | | | | | — | | | | | | 166.15 | | | | | | 166,253 | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,003 | | | | | | — | | | | | | 166,648 | | |
| | | | | | | | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||
Name | | | Grant Date | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($)(4) | | | Option Expiration Date | | | Number of RSUs that have not Vested (#)(5) | | | Market Value of RSUs that have not Vested ($)(6) | | |||||||||||||||||||||
Doug Black | | | | | 02/17/17 | | | | | | — | | | | | | 87,141(1) | | | | | | 38.73 | | | | | | 02/17/27 | | | | | | 9,682 | | | | | $ | 742,609 | | |
| | | | | 05/19/14 | | | | | | 743,558(2) | | | | | | 185,890(2) | | | | | | 5.50 | | | | | | 05/19/24 | | | | | | — | | | | | | — | | |
John Guthrie | | | | | 02/17/17 | | | | | | — | | | | | | 18,590(1) | | | | | | 38.73 | | | | | | 02/17/27 | | | | | | 2,065 | | | | | $ | 158,386 | | |
| | | | | 09/30/14 | | | | | | 83,650(2) | | | | | | 20,912(2) | | | | | | 5.50 | | | | | | 09/30/24 | | | | | | — | | | | | | — | | |
| | | | | 05/19/14 | | | | | | 63,650(2) | | | | | | 20,912(2) | | | | | | 5.50 | | | | | | 05/19/24 | | | | | | — | | | | | | — | | |
Pascal Convers | | | | | 02/17/17 | | | | | | — | | | | | | 18,590(1) | | | | | | 38.73 | | | | | | 02/17/27 | | | | | | 2,065 | | | | | $ | 158,386 | | |
| | | | | 09/30/14 | | | | | | 157,550(2) | | | | | | 41,825(2) | | | | | | 5.50 | | | | | | 09/30/24 | | | | | | — | | | | | | — | | |
Briley Brisendine | | | | | 02/17/17 | | | | | | — | | | | | | 18,590(1) | | | | | | 38.73 | | | | | | 02/17/27 | | | | | | 2,065 | | | | | $ | 158,386 | | |
| | | | | 05/12/16 | | | | | | 8,750(1) | | | | | | 26,250(1) | | | | | | 26.67 | | | | | | 05/12/26 | | | | | | — | | | | | | — | | |
| | | | | 09/08/15 | | | | | | 34,854(3) | | | | | | 52,281(3) | | | | | | 12.84 | | | | | | 09/08/25 | | | | | | — | | | | | | — | | |
Ross Anker | | | | | 02/17/17 | | | | | | — | | | | | | 18,590(1) | | | | | | 38.73 | | | | | | 02/17/27 | | | | | | 2,065 | | | | | $ | 158,386 | | |
| | | | | 01/09/15 | | | | | | 20,913(3) | | | | | | 125,475(3) | | | | | | 7.07 | | | | | | 01/06/25 | | | | | | — | | | | | | — | | |
| | | | | | | | | Option Awards(1)(2) | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||
Name | | | Grant Date | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($)(3) | | | Option Expiration Date | | | Number of RSUs that have not Vested (#)(4) | | | Market Value of RSUs that have not Vested ($)(5) | | | Equity Incentive Plan Awards: # of Unearned Shares, Units or Other Rights that have not Vested (#)(6) | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights that have not Vested ($)(5) | | |||||||||||||||||||||||||||
Doug Black | | | | | 2/11/2021 | | | | | | — | | | | | | 20,764 | | | | | | 166.15 | | | | | | 2/11/2031 | | | | | | 6,018 | | | | | | 1,458,041 | | | | | | 6,018 | | | | | | 1,458,041 | | |
| | | | | 2/5/2020 | | | | | | 9,963 | | | | | | 29,887 | | | | | | 101.63 | | | | | | 2/5/2030 | | | | | | 4,981 | | | | | | 1,206,797 | | | | | | 6,641 | | | | | | 1,608,981 | | |
| | | | | 2/6/2019 | | | | | | 33,437 | | | | | | 33,436 | | | | | | 51.59 | | | | | | 2/6/2029 | | | | | | 5,572 | | | | | | 1,349,984 | | | | | | — | | | | | | — | | |
| | | | | 2/14/2018 | | | | | | 50,390 | | | | | | 16,797 | | | | | | 77.04 | | | | | | 2/14/2028 | | | | | | 1,866 | | | | | | 452,094 | | | | | | — | | | | | | — | | |
| | | | | 2/17/2017 | | | | | | 87,141 | | | | | | — | | | | | | 38.73 | | | | | | 2/17/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 5/19/2014 | | | | | | 328,448 | | | | | | — | | | | | | 5.50 | | | | | | 5/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
John Guthrie | | | | | 2/11/2021 | | | | | | — | | | | | | 3,979 | | | | | | 166.15 | | | | | | 2/11/2031 | | | | | | 1,153 | | | | | | 279,349 | | | | | | 1,153 | | | | | | 279,349 | | |
| | | | | 2/5/2020 | | | | | | — | | | | | | 5,534 | | | | | | 101.63 | | | | | | 2/5/2030 | | | | | | 922 | | | | | | 223,382 | | | | | | 1,229 | | | | | | 297,762 | | |
| | | | | 2/6/2019 | | | | | | — | | | | | | 6,541 | | | | | | 51.59 | | | | | | 2/6/2029 | | | | | | 1,090 | | | | | | 264,085 | | | | | | — | | | | | | — | | |
| | | | | 2/14/2018 | | | | | | — | | | | | | 3,359 | | | | | | 77.04 | | | | | | 2/14/2028 | | | | | | 373 | | | | | | 90,370 | | | | | | — | | | | | | — | | |
Briley Brisendine | | | | | 2/11/2021 | | | | | | — | | | | | | 4,325 | | | | | | 166.15 | | | | | | 2/11/2031 | | | | | | 1,253 | | | | | | 303,577 | | | | | | 1,253 | | | | | | 303,577 | | |
| | | | | 2/5/2020 | | | | | | 2,214 | | | | | | 6,641 | | | | | | 101.63 | | | | | | 2/5/2030 | | | | | | 1,106 | | | | | | 267,962 | | | | | | 1,475 | | | | | | 357,363 | | |
| | | | | 2/6/2019 | | | | | | 6,542 | | | | | | 6,541 | | | | | | 51.59 | | | | | | 2/6/2029 | | | | | | 1,090 | | | | | | 264,085 | | | | | | — | | | | | | — | | |
| | | | | 2/14/2018 | | | | | | 10,078 | | | | | | 3,359 | | | | | | 77.04 | | | | | | 2/14/2028 | | | | | | 373 | | | | | | 90,370 | | | | | | — | | | | | | — | | |
| | | | | 2/17/2017 | | | | | | 18,590 | | | | | | — | | | | | | 38.73 | | | | | | 2/17/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 5/12/2016 | | | | | | 35,000 | | | | | | — | | | | | | 26.67 | | | | | | 5/12/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 9/8/2015 | | | | | | 1,035 | | | | | | — | | | | | | 12.84 | | | | | | 9/8/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Scott Salmon | | | | | 2/11/2021 | | | | | | —��� | | | | | | 3,806 | | | | | | 166.15 | | | | | | 2/11/2031 | | | | | | 1,103 | | | | | | 267,235 | | | | | | 1,103 | | | | | | 267,235 | | |
| | | | | 2/5/2020 | | | | | | 1,845 | | | | | | 5,534 | | | | | | 101.63 | | | | | | 2/5/2030 | | | | | | 922 | | | | | | 223,382 | | | | | | 1,229 | | | | | | 297,762 | | |
| | | | | 3/11/2019 | | | | | | 13,203 | | | | | | 13,203 | | | | | | 52.26 | | | | | | 3/11/2029 | | | | | | 2,200 | | | | | | 533,016 | | | | | | — | | | | | | — | | |
Joe Ketter | | | | | 2/11/2021 | | | | | | — | | | | | | 3,287 | | | | | | 166.15 | | | | | | 2/11/3021 | | | | | | 952 | | | | | | 230,651 | | | | | | 952 | | | | | | 230,651 | | |
| | | | | 2/5/2020 | | | | | | 1,660 | | | | | | 4,981 | | | | | | 101.63 | | | | | | 2/5/2030 | | | | | | 829 | | | | | | 200,850 | | | | | | 1,106 | | | | | | 267,962 | | |
| | | | | 2/6/2019 | | | | | | 4,361 | | | | | | 4,361 | | | | | | 51.59 | | | | | | 2/6/2029 | | | | | | 726 | | | | | | 175,895 | | | | | | — | | | | | | — | | |
| | | | | 2/14/2018 | | | | | | 6,563 | | | | | | 2,187 | | | | | | 77.04 | | | | | | 2/14/2028 | | | | | | 243 | | | | | | 58,874 | | | | | | — | | | | | | — | | |
| | | | | 2/17/2017 | | | | | | 10,108 | | | | | | — | | | | | | 38.73 | | | | | | 2/17/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 7/27/2015 | | | | | | 46,690 | | | | | | — | | | | | | 12.84 | | | | | | 7/27/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Greg Weller | | | | | 11/1/2021 | | | | | | — | | | | | | 683 | | | | | | 240.00 | | | | | | 11/1/2031 | | | | | | 625 | | | | | | 151,425 | | | | | | — | | | | | | — | | |
| | | | | 2/11/2021 | | | | | | — | | | | | | 3,460 | | | | | | 166.15 | | | | | | 2/11/2031 | | | | | | 1,003 | | | | | | 243,007 | | | | | | 1,003 | | | | | | 243,007 | | |
| | | | | 2/5/2020 | | | | | | 1,660 | | | | | | 4,981 | | | | | | 101.63 | | | | | | 2/5/2030 | | | | | | 829 | | | | | | 200,850 | | | | | | 1,106 | | | | | | 267,962 | | |
| | | | | 5/15/2019 | | | | | | 454 | | | | | | 1,454 | | | | | | 66.10 | | | | | | 5/15/2029 | | | | | | 485 | | | | | | 117,506 | | | | | | — | | | | | | — | | |
| | | | | 2/6/2019 | | | | | | 1,361 | | | | | | 4,361 | | | | | | 51.59 | | | | | | 2/6/2029 | | | | | | 726 | | | | | | 175,895 | | | | | | — | | | | | | — | | |
| | | | | 2/14/2018 | | | | | | — | | | | | | 2,187 | | | | | | 77.04 | | | | | | 2/14/2028 | | | | | | 243 | | | | | | 58,874 | | | | | | — | | | | | | — | | |
| | | | | 4/15/2015 | | | | | | 94 | | | | | | — | | | | | | 8.02 | | | | | | 4/15/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||
Name | | | Number of shares acquired on exercise (#) | | | Value realized on exercise ($)(1) | | | Number of shares acquired on vesting (#)(2) | | | Value realized on vesting ($)(2)(3) | | ||||||||||||
Doug Black | | | | | 254,000 | | | | | | 46,404,900 | | | | | | 19,878 | | | | | | 4,144,350 | | |
John Guthrie | | | | | 19,841 | | | | | | 2,645,456 | | | | | | 3,921 | | | | | | 815,918 | | |
Briley Brisendine | | | | | 20,000 | | | | | | 3,666,200 | | | | | | 3,983 | | | | | | 826,298 | | |
Scott Salmon | | | | | — | | | | | | — | | | | | | 5,809 | | | | | | 1,310,146 | | |
Joseph Ketter | | | | | 1,400 | | | | | | 196,084 | | | | | | 2,618 | | | | | | 544,893 | | |
Greg Weller | | | | | 23,628 | | | | | | 3,131,921 | | | | | | 2,811 | | | | | | 579,521 | | |
| | | Estimated PSU Stock Awards | | |||||||||
| | | Number of shares vested (#) | | | Value realized on vesting ($) | | ||||||
Doug Black | | | | | 11,145 | | | | | | 2,700,211 | | |
John Guthrie | | | | | 2,180 | | | | | | 528,170 | | |
Briley Brisendine | | | | | 2,180 | | | | | | 528,170 | | |
Scott Salmon | | | | | 4,401 | | | | | | 1,066,274 | | |
Joseph Ketter | | | | | 1,453 | | | | | | 352,033 | | |
Greg Weller | | | | | 1,453 | | | | | | 352,033 | | |
| | | Without Cause/ For Good Reason (No CIC) ($) | | | Without Cause/ For Good Reason (In connection with CIC) ($) | | | Death/Disability ($) | | | Retirement ($) | | | CIC (No Termination) ($) | | |||||||||||||||
Doug Black(1) | | | | | | | |||||||||||||||||||||||||
Severance Pay (base salary and bonus components)(1) | | | | | 1,125,000 | | | | | | 1,125,000 | | | | | | — | | | | | | — | | | | | | — | | |
Employer-Paid COBRA(2) | | | | | 30,836 | | | | | | 30,836 | | | | | | 30,836 | | | | | | — | | | | | | — | | |
Value of Equity Award Acceleration(3) | | | | | 879,616 | | | | | | 17,286,721 | | | | | | 17,286,721 | | | | | | 879,616 | | | | | | 17,286,721 | | |
Total | | | | | 2,035,452 | | | | | | 18,442,558 | | | | | | 17,317,558 | | | | | | 879,616 | | | | | | 17,286,721 | | |
John Guthrie(1) | | | | | | | |||||||||||||||||||||||||
Severance Pay (base salary and bonus components)(1) | | | | | 480,000 | | | | | | 480,000 | | | | | | — | | | | | | — | | | | | | — | | |
Employer-Paid COBRA(2) | | | | | 30,836 | | | | | | 30,836 | | | | | | 30,836 | | | | | | — | | | | | | — | | |
Value of Equity Award Acceleration(3) | | | | | 187,609 | | | | | | 3,842,117 | | | | | | 3,842,117 | | | | | | 187,609 | | | | | | 3,842,117 | | |
Total | | | | | 698,445 | | | | | | 4,352,953 | | | | | | 3,872,953 | | | | | | 187,609 | | | | | | 3,842,117 | | |
Pascal Convers(1) | | | | | | | |||||||||||||||||||||||||
Severance Pay (base salary and bonus components)(1) | | | | | 540,000 | | | | | | 540,000 | | | | | | — | | | | | | — | | | | | | — | | |
Employer-Paid COBRA(2) | | | | | 16,363 | | | | | | 16,363 | | | | | | 16,363 | | | | | | — | | | | | | — | | |
Value of Equity Award Acceleration(3) | | | | | 187,609 | | | | | | 3,842,188 | | | | | | 3,842,188 | | | | | | 187,609 | | | | | | 3,842,188 | | |
Total | | | | | 743,971 | | | | | | 4,398,550 | | | | | | 3,858,550 | | | | | | 187,609 | | | | | | 3,842,188 | | |
Briley Brisendine(1) | | | | | | | |||||||||||||||||||||||||
Severance Pay (base salary and bonus components)(1) | | | | | 555,000 | | | | | | 555,000 | | | | | | — | | | | | | — | | | | | | — | | |
Employer-Paid COBRA(2) | | | | | 30,836 | | | | | | 30,836 | | | | | | 30,836 | | | | | | — | | | | | | — | | |
Value of Equity Award Acceleration(3) | | | | | 467,057 | | | | | | 5,516,200 | | | | | | 4,482,361 | | | | | | 467,057 | | | | | | 5,516,200 | | |
Total | | | | | 1,052,893 | | | | | | 6,102,036 | | | | | | 4,513,197 | | | | | | 467,057 | | | | | | 5,516,200 | | |
Ross Anker(1) | | | | | | | |||||||||||||||||||||||||
Severance Pay (base salary and bonus components)(1) | | | | | 555,000 | | | | | | 555,000 | | | | | | — | | | | | | — | | | | | | — | | |
Employer-Paid COBRA(2) | | | | | 29,398 | | | | | | 29,398 | | | | | | 29,398 | | | | | | — | | | | | | — | | |
Value of Equity Award Acceleration(3) | | | | | 187,609 | | | | | | 9,601,072 | | | | | | 9,601,072 | | | | | | 187,609 | | | | | | 9,601,072 | | |
Total | | | | | 772,007 | | | | | | 10,185,470 | | | | | | 9,630,470 | | | | | | 187,609 | | | | | | 9,601,072 | | |
| | | Without Cause/ For Good Reason (No CIC) ($) | | | Without Cause/ For Good Reason (In connection with CIC) ($) | | | Death/Disability ($) | | | Retirement ($)(4) | | | CIC (No Termination) ($)(5) | |
Doug Black | | | | | | | | | | | | | | | | |
Severance Pay (base salary and bonus components)(1) | | | 1,275,000 | | | 1,275,000 | | | — | | | — | | | — | |
Employer-Paid COBRA(2) | | | 37,607 | | | 37,607 | | | 37,607 | | | — | | | — | |
Value of Equity Award Acceleration(3) | | | 12,910,814 | | | 25,169,966 | | | 23,661,612 | | | — | | | 25,169,966 | |
Total | | | 14,223,421 | | | 26,482,573 | | | 23,699,219 | | | — | | | 25,169,966 | |
John Guthrie | | | | | | | | | | | | | | | | |
Severance Pay (base salary and bonus components)(1) | | | 663,462 | | | 663,462 | | | — | | | — | | | — | |
Employer-Paid COBRA(2) | | | 39,298 | | | 39,298 | | | 39,298 | | | — | | | — | |
Value of Equity Award Acceleration(3) | | | 2,504,613 | | | 4,846,091 | | | 4,560,604 | | | — | | | 4,846,091 | |
Total | | | 3,207,373 | | | 5,548,851 | | | 4,599,902 | | | — | | | 4,846,091 | |
Briley Brisendine | | | | | | | | | | | | | | | | |
Severance Pay (base salary and bonus components)(1) | | | 664,038 | | | 664,038 | | | — | | | — | | | — | |
Employer-Paid COBRA(2) | | | 39,298 | | | 39,298 | | | 39,298 | | | — | | | — | |
Value of Equity Award Acceleration(3) | | | 2,624,543 | | | 5,180,768 | | | 4,859,262 | | | — | | | 5,180,768 | |
Total | | | 3,327,879 | | | 5,884,104 | | | 4,898,560 | | | — | | | 5,180,768 | |
Scott Salmon | | | | | | | | | | | | | | | | |
Severance Pay (base salary and bonus components)(1) | | | 565,529 | | | 565,529 | | | — | | | — | | | — | |
Employer-Paid COBRA(2) | | | 39,298 | | | 39,298 | | | 39,298 | | | — | | | — | |
Value of Equity Award Acceleration(3) | | | 3,018,551 | | | 6,231,846 | | | 5,954,436 | | | — | | | 6,231,846 | |
Total | | | 3,623,378 | | | 6,836,673 | | | 5,993,734 | | | — | | | 6,231,846 | |
Joseph Ketter | | | | | | | | | | | | | | | | |
Severance Pay (base salary and bonus components)(1) | | | 522,693 | | | 522,693 | | | — | | | — | | | — | |
Employer-Paid COBRA(2) | | | 39,298 | | | 39,298 | | | 39,298 | | | — | | | — | |
Value of Equity Award Acceleration(3) | | | 1,813,141 | | | 3,660,711 | | | 3,417,624 | | | — | | | 3,660,711 | |
Total | | | 2,375,132 | | | 4,222,702 | | | 3,456,922 | | | — | | | 3,660,711 | |
Greg Weller | | | | | | | | | | | | | | | | |
Severance Pay (base salary and bonus components)(1) | | | 549,375 | | | 549,375 | | | — | | | — | | | — | |
Employer-Paid COBRA(2) | | | 7,410 | | | 37,410 | | | 37,410 | | | — | | | — | |
Value of Equity Award Acceleration(3) | | | 1,947,890 | | | 4,225,248 | | | 3,973,923 | | | — | | | 4,225,248 | |
Total | | | 2,534,675 | | | 4,812,033 | | | 4,011,333 | | | — | | | 4,225,248 | |
| | | | | Annual Retainer | | | Annual Retainer | | |||||||||
| | | Board: | | | | | | | |||||||||
| | | All non-employee members | | | $ | 50,000 | | | |||||||||
| | | Lead Director | | | $ | 35,000 | | | |||||||||
| | | Audit Committee: | | | | | | | |||||||||
| | | Chair | | | $ | 25,000 | | | |||||||||
| | | Non-Chair members | | | $ | 12,500 | | | |||||||||
| | | Compensation Committee: | | | | | | | |||||||||
| | | Chair | | | $ | 20,000 | | | |||||||||
| | | Non-Chair members | | | $ | 10,000 | | | |||||||||
| | | Nominating and Corporate Governance Committee: | | | | | | | |||||||||
| | | Chair | | | $ | 15,000 | | | |||||||||
| | | Non-Chair members | | | $ | 7,500 | | | |||||||||
Board: | | | | | | | ||||||||||||
All non-employee members | | | $ | 75,000 | | | ||||||||||||
Lead Director | | | $ | 35,000 | | | ||||||||||||
Audit Committee: | | | | | | | ||||||||||||
Chair | | | $ | 32,500 | | | ||||||||||||
Non-Chair members | | | $ | 12,500 | | | ||||||||||||
Human Resources and Compensation Committee: | | | | | | | ||||||||||||
Chair | | | $ | 25,000 | | | ||||||||||||
Non-Chair members | | | $ | 10,000 | | | ||||||||||||
Nominating and Corporate Governance Committee: | | | | | | | ||||||||||||
Chair | | | $ | 17,500 | | | ||||||||||||
Non-Chair members | | | $ | 7,500 | | |
Name | | | Fees Earned or Paid in Cash ($) | | | Stock Awards ($)(3) | | | Total ($) | | |||||||||
Fred Diaz | | | | | 0(2) | | | | | | 78,450 | | | | | | 78,450 | | |
William W. Douglas III | | | | | 96,351 | | | | | | 80,000 | | | | | | 176,351 | | |
W. Roy Dunbar | | | | | 49,833 | | | | | | 80,000 | | | | | | 129,833 | | |
Kenneth A. Giuriceo(1) | | | | | 0(2) | | | | | | 108,125 | | | | | | 108,125 | | |
Michael J. Grebe | | | | | 52,418 | | | | | | 80,000 | | | | | | 132,418 | | |
John Lagemann(1) | | | | | 9,903 | | | | | | — | | | | | | 9,903 | | |
Jeri L. Isbell | | | | | 72,720 | | | | | | 80,000 | | | | | | 152,720 | | |
Paul S. Pressler | | | | | 0(2) | | | | | | 143,221 | | | | | | 143,221 | | |
Wes Robinson(1) | | | | | 25,760 | | | | | | 80,000 | | | | | | 105,760 | | |
David H. Wasserman(1) | | | | | 0(2) | | | | | | 131,724 | | | | | | 131,724 | | |
Jack L. Wyszomierski | | | | | 74,958 | | | | | | 80,000 | | | | | | 154,958 | | |
Name | | | Fees Earned or Paid in Cash ($) | | | Stock Awards ($)(2) | | | Total ($) | | |||||||||
Fred M. Diaz(1) | | | | | — | | | | | | 208,874 | | | | | | 208,874 | | |
William W. Douglas III | | | | | 138,874 | | | | | | 115,000 | | | | | | 253,874 | | |
Larisa J. Drake | | | | | 78,874 | | | | | | 115,000 | | | | | | 193,874 | | |
W. Roy Dunbar | | | | | 81,374 | | | | | | 115,000 | | | | | | 196,374 | | |
Jeri L. Isbell | | | | | 103,874 | | | | | | 115,000 | | | | | | 218,874 | | |
Jack L. Wyszomierski | | | | | 101,374 | | | | | | 115,000 | | | | | | 216,374 | | |
Position | | | Multiple | |
Non-Employee Director | | | 5x Annual Cash Retainer | |
Plan Category | | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights(1) | | Weighted Average Exercise Price of Outstanding Options ($) | | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (excluding securities reflected in first column) | | | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights(1) | | Weighted Average Exercise Price of Outstanding Options ($) | | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (excluding securities reflected in first column) | | ||||||||||||||||||||||||
Equity compensation plans approved by stockholders | | | | 3,241,703 | | | | | 12.07 | | | | | 1,334,749 | | | | | | 1,485,865 | | | | $ | 48.09 | | | | | 2,029,381 | | | ||||||
Equity compensation plans not approved by stockholders | | | | — | | | | | — | | | | | — | | | | | | — | | | | | — | | | | | — | | | ||||||
Total | | | | 3,241,703 | | | | | 12.07 | | | | | 1,334,749 | | |
| | | | | | | 2017 | | | 2016 | | ||||||
| | | | Audit fees(1) | | | | $ | 1,468,800 | | | | | $ | 1,338,397 | | |
| | | | Audit-related fees(2) | | | | | 213,000 | | | | | | 1,029,474 | | |
| | | | Tax fees(3) | | | | | — | | | | | | — | | |
| | | | All other fees(4) | | | | | 2,695 | | | | | | 2,600 | | |
| | | | Total Fees | | | | $ | 1,684,495 | | | | | $ | 2,370,471 | | |
| | | | Name of Beneficial Owner | | | Shares Beneficially Owned | | | Percent | | ||||||
| | | | Baillie Gifford & Co(1) | | | | | 3,993,011 | | | | | | 10.0% | | |
| | | | The Vanguard Group(2) | | | | | 3,231,135 | | | | | | 8.1% | | |
| | | | FMR LLC(3) | | | | | 2,333,075 | | | | | | 5.8% | | |
| | | | BlackRock Inc.(4) | | | | | 2,241,837 | | | | | | 5.6% | | |
| | | | T. Rowe Price Associates, Inc.(5) | | | | | 2,154,532 | | | | | | 5.4% | | |
| | | | Paul S. Pressler | | | | | — | | | | | | — | | |
| | | | W. Roy Dunbar(6) | | | | | 2,032 | | | | | | * | | |
| | | | Fred M. Diaz(6) | | | | | 1,451 | | | | | | * | | |
| | | | William W. Douglas, III(6) | | | | | 9,481 | | | | | | * | | |
| | | | Michael J. Grebe(6) | | | | | 2,596 | | | | | | * | | |
| | | | Jeri L. Isbell(6) | | | | | 2,989 | | | | | | * | | |
| | | | Jack L. Wyszomierski(6) | | | | | 9,481 | | | | | | * | | |
| | | | Doug Black(7)(8) | | | | | 1,144,571 | | | | | | 2.9% | | |
| | | | John Guthrie(7) | | | | | 180,134 | | | | | | * | | |
| | | | Pascal Convers(7) | | | | | 230,173 | | | | | | * | | |
| | | | Briley Brisendine(7) | | | | | 87,510 | | | | | | * | | |
| | | | Ross Anker(7) | | | | | 57,316 | | | | | | * | | |
| | | | All current directors and executive officers as a group (13 persons)(7) | | | | | 1,756,393 | | | | | | 4.4% | | |
Name of Beneficial Owner | | | Shares Beneficially Owned | | | Percent | | ||||||
Kayne Anderson Rudnick Investment Management LLC(1) | | | | | 4,603,006 | | | | | | 10.3% | | |
T. Rowe Price Associates, Inc.(2) | | | | | 4,195,186 | | | | | | 9.3% | | |
The Vanguard Group(3) | | | | | 3,938,556 | | | | | | 8.8% | | |
Baillie Gifford & Co.(4) | | | | | 3,734,592 | | | | | | 8.3% | | |
BlackRock Inc.(5) | | | | | 2,890,841 | | | | | | 6.4% | | |
W. Roy Dunbar(6) | | | | | 6,657 | | | | | | * | | |
Fred M. Diaz(6) | | | | | 9,509 | | | | | | * | | |
William W. Douglas III(6) | | | | | 14,106 | | | | | | * | | |
Jeri L. Isbell(6) | | | | | 7,614 | | | | | | * | | |
Jack L. Wyszomierski(6) | | | | | 14,106 | | | | | | * | | |
Larisa J. Drake(6) | | | | | 3,485 | | | | | | * | | |
Doug Black(7) | | | | | 949,761 | | | | | | 2.1% | | |
John Guthrie(7) | | | | | 21,717 | | | | | | * | | |
Briley Brisendine(7) | | | | | 92,940 | | | | | | * | | |
Scott Salmon(7) | | | | | 27,327 | | | | | | * | | |
Joseph Ketter(7) | | | | | 84,069 | | | | | | * | | |
Greg Weller(7) | | | | | 21,482 | | | | | | * | | |
All current directors and executive officers as a group (11 persons) | | | | | 1,231,291 | | | | | | 2.7% | | |
| ① | | | View our proxy materials on the Internet | |
| ② | | | View your shares | |
| ③ | | | Request printed copies of these materials, including the proxy card or voting instruction card | |
| Proposal 1: | | | Elect the three Class III nominees named in this Proxy Statement as Class III directors for a term expiring at the 2025 Annual Meeting of Stockholders. | |
| Proposal 2: | | | Ratify the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending January 1, 2023. | |
| Proposal 3: | | | Hold a non-binding advisory vote to approve executive compensation. | |
| Other Proposals: | | | Transact such other business as may properly come before the Annual Meeting or any reconvened meeting following any adjournment or postponement thereof. | |
| Proposal 1: | | | “FOR” each of the three Class III nominees named in this Proxy Statement as Class III directors for a term expiring at the 2025 Annual Meeting of Stockholders. | |
| Proposal 2: | | | “FOR” the ratification of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the year ending January 1, 2023. | |
| Proposal 3: | | | “FOR” the non-binding advisory vote to approve executive compensation. | |
| Other Proposals: | | | At the discretion of Doug Black and Briley Brisendine, the persons designated as proxies for the Annual Meeting, either “FOR”, “AGAINST” or “ABSTAIN” with regard to any other business that may properly come before the Annual Meeting. | |
| | | | Proposal(1) | | | Stockholder Vote Required for Approval | | | Effect of Abstentions | | | Effect of Broker Non-Votes(2) | |
| ① | | | Election of Class III Directors | | | Plurality | | | No effect | | | No effect | |
| ② | | | Ratification of the selection of Deloitte & Touche LLP as our independent public accounting firm | | | Majority | | | Counts as vote against proposal | | | There will be no broker non-votes | |
| ③ | | | Advisory vote to approve executive compensation(3) | | | Majority | | | Counts as vote against proposal | | | No effect | |
| | | | If you are a Stockholder of Record | | | If you are a Beneficial Owner of Shares Held in Street Name | |
| By Internet (24 hours a day)(1) | | | www.proxyvote.com | | | www.proxyvote.com | |
| By Telephone (24 hours a day)(1) | | | 1-800-690-6903 | | | 1-800-454-8683 | |
| By Mail | | | Return a properly executed and dated proxy card in the pre-paid envelope we have provided | | | Return a properly executed and dated voting instruction form by mail, depending upon the method(s) your bank, brokerage firm, broker-dealer or similar organization makes available | |
| At the Annual Meeting(1) | | | Stockholders who attend the virtual Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/SITE2022 | | | Stockholders who attend the virtual Annual Meeting should follow the instructions at www.virtualshareholdermeeting.com/SITE2022 | |
| | | 2017 Fiscal Year | | | 2016 Fiscal Year | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(In millions, unaudited) | | | Year | | | Qtr 4 | | | Qtr 3 | | | Qtr 2 | | | Qtr 1 | | | Year | | | Qtr 4 | | | Qtr 3 | | | Qtr 2 | | | Qtr 1 | | ||||||||||||||||||||||||||||||
Reported Net income (loss) | | | | $ | 54.6 | | | | | $ | 4.0 | | | | | $ | 16.9 | | | | | $ | 44.2 | | | | | $ | (10.5) | | | | | $ | 30.6 | | | | | $ | (5.6) | | | | | $ | 14.9 | | | | | $ | 26.9 | | | | | $ | (5.6) | | |
Income tax (benefit) expense | | | | | 18.0 | | | | | | (11.4) | | | | | | 10.7 | | | | | | 26.3 | | | | | | (7.6) | | | | | | 21.3 | | | | | | (4.1) | | | | | | 10.7 | | | | | | 18.1 | | | | | | (3.4) | | |
Interest expense, net | | | | | 25.2 | | | | | | 6.2 | | | | | | 6.2 | | | | | | 6.6 | | | | | | 6.2 | | | | | | 22.1 | | | | | | 6.7 | | | | | | 6.3 | | | | | | 6.5 | | | | | | 2.6 | | |
Depreciation & amortization | | | | | 43.1 | | | | | | 11.4 | | | | | | 11.1 | | | | | | 10.8 | | | | | | 9.8 | | | | | | 37.0 | | | | | | 9.6 | | | | | | 9.7 | | | | | | 9.1 | | | | | | 8.6 | | |
EBITDA | | | | | 140.9 | | | | | | 10.2 | | | | | | 44.9 | | | | | | 87.9 | | | | | | (2.1) | | | | | | 111.0 | | | | | | 6.6 | | | | | | 41.6 | | | | | | 60.6 | | | | | | 2.2 | | |
Stock-based compensation(a) | | | | | 5.9 | | | | | | 1.4 | | | | | | 1.5 | | | | | | 1.6 | | | | | | 1.4 | | | | | | 5.3 | | | | | | 1.3 | | | | | | 1.1 | | | | | | 2.2 | | | | | | 0.7 | | |
(Gain) loss on sale of assets(b) | | | | | 0.6 | | | | | | 0.4 | | | | | | — | | | | | | 0.1 | | | | | | 0.1 | | | | | | — | | | | | | 0.1 | | | | | | — | | | | | | — | | | | | | (0.1) | | |
Advisory fees(c) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8.5 | | | | | | — | | | | | | — | | | | | | 8.0 | | | | | | 0.5 | | |
Financing fees(d) | | | | | 1.7 | | | | | | 0.2 | | | | | | 0.4 | | | | | | 1.1 | | | | | | — | | | | | | 4.6 | | | | | | 1.1 | | | | | | 0.4 | | | | | | 3.1 | | | | | | — | | |
Rebranding and other adjustments(e) | | | | | 8.1 | | | | | | 3.1 | | | | | | 1.6 | | | | | | 1.6 | | | | | | 1.8 | | | | | | 4.9 | | | | | | 2.1 | | | | | | 0.6 | | | | | | 1.0 | | | | | | 1.2 | | |
Adjusted EBITDA(f) | | | | $ | 157.2 | | | | | $ | 15.3 | | | | | $ | 48.4 | | | | | $ | 92.3 | | | | | $ | 1.2 | | | | | $ | 134.3 | | | | | $ | 11.2 | | | | | $ | 43.7 | | | | | $ | 74.9 | | | | | $ | 4.5 | | |
| | | | 2021 Fiscal Year | | | | 2020 Fiscal Year | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions | | | | Year | | | | Qtr 4 | | | Qtr 3 | | | Qtr 2 | | | Qtr 1 | | | | Year | | | | Qtr 4 | | | Qtr 3 | | | Qtr 2 | | | Qtr 1 | | ||||||||||||||||||||||||||||||
Reported Net income (loss) | | | | | $ | 238.4 | | | | | | $ | 27.5 | | | | | $ | 80.0 | | | | | $ | 123.5 | | | | | $ | 7.4 | | | | | | $ | 121.3 | | | | | | $ | 11.5 | | | | | $ | 48.2 | | | | | $ | 79.1 | | | | | $ | (17.5) | | |
Income tax (benefit) expense | | | | | | 56.1 | | | | | | | 2.7 | | | | | | 19.1 | | | | | | 36.8 | | | | | | (2.5) | | | | | | | 27.5 | | | | | | | 1.6 | | | | | | 13.8 | | | | | | 25.6 | | | | | | (13.5) | | |
Interest expense, net | | | | | | 19.2 | | | | | | | 5.1 | | | | | | 4.3 | | | | | | 4.3 | | | | | | 5.5 | | | | | | | 31.0 | | | | | | | 9.1 | | | | | | 6.6 | | | | | | 7.6 | | | | | | 7.7 | | |
Depreciation & amortization | | | | | | 83.0 | | | | | | | 22.3 | | | | | | 21.0 | | | | | | 20.3 | | | | | | 19.4 | | | | | | | 67.2 | | | | | | | 18.2 | | | | | | 16.3 | | | | | | 16.4 | | | | | | 16.3 | | |
EBITDA | | | | | | 396.7 | | | | | | | 57.6 | | | | | | 124.4 | | | | | | 184.9 | | | | | | 29.8 | | | | | | | 247.0 | | | | | | | 40.4 | | | | | | 84.9 | | | | | | 128.7 | | | | | | (7.0) | | |
Stock-based compensation(a) | | | | | | 14.3 | | | | | | | 3.1 | | | | | | 3.5 | | | | | | 4.6 | | | | | | 3.1 | | | | | | | 10.6 | | | | | | | 2.7 | | | | | | 2.6 | | | | | | 2.8 | | | | | | 2.5 | | |
(Gain) loss on sale of assets(b) | | | | | | (0.1) | | | | | | | 0.2 | | | | | | (0.2) | | | | | | (0.2) | | | | | | 0.1 | | | | | | | (0.4) | | | | | | | (0.2) | | | | | | (0.4) | | | | | | 0.1 | | | | | | 0.1 | | |
Financing fees(c) | | | | | | 0.7 | | | | | | | — | | | | | | — | | | | | | — | | | | | | 0.7 | | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Acquisitions and other adjustments(d) | | | | | | 3.5 | | | | | | | 0.9 | | | | | | 0.5 | | | | | | 1.3 | | | | | | 0.8 | | | | | | | 3.0 | | | | | | | 1.0 | | | | | | 0.7 | | | | | | 0.5 | | | | | | 0.8 | | |
Adjusted EBITDA(e) | | | | | $ | 415.1 | | | | | | $ | 61.8 | | | | | $ | 128.2 | | | | | $ | 190.6 | | | | | $ | 34.5 | | | | | | $ | 260.2 | | | | | | $ | 43.9 | | | | | $ | 87.8 | | | | | $ | 132.1 | | | | | $ | (3.6) | | |
| | | | 2021 Fiscal Year | | | | 2020 Fiscal Year | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, except Selling Days | | | | Year | | | | Qtr 4 | | | Qtr 3 | | | Qtr 2 | | | Qtr 1 | | | | Year | | | | Qtr 4 | | | Qtr 3 | | | Qtr 2 | | | Qtr 1 | | ||||||||||||||||||||||||||||||
Reported Net sales | | | | | $ | 3,475.7 | | | | | | $ | 805.2 | | | | | $ | 936.4 | | | | | $ | 1,083.9 | | | | | $ | 650.2 | | | | | | $ | 2,704.5 | | | | | | $ | 675.1 | | | | | $ | 751.9 | | | | | $ | 817.7 | | | | | $ | 459.8 | | |
Organic sales(a) | | | | | | 3,158.9 | | | | | | | 726.9 | | | | | | 843.7 | | | | | | 975.0 | | | | | | 613.3 | | | | | | | 2,629.3 | | | | | | | 641.0 | | | | | | 732.7 | | | | | | 799.2 | | | | | | 456.4 | | |
Acquisition contribution(b) | | | | | | 316.8 | | | | | | | 78.3 | | | | | | 92.7 | | | | | | 108.9 | | | | | | 36.9 | | | | | | | 75.2 | | | | | | | 34.1 | | | | | | 19.2 | | | | | | 18.5 | | | | | | 3.4 | | |
Selling Days | | | | | | 253 | | | | | | | 61 | | | | | | 63 | | | | | | 64 | | | | | | 65 | | | | | | | 256 | | | | | | | 65 | | | | | | 63 | | | | | | 64 | | | | | | 64 | | |
Organic Daily Sales | | | | | $ | 12.5 | | | | | | $ | 11.9 | | | | | $ | 13.4 | | | | | $ | 15.2 | | | | | $ | 9.4 | | | | | | $ | 10.3 | | | | | | $ | 9.9 | | | | | $ | 11.6 | | | | | $ | 12.5 | | | | | $ | 7.1 | | |