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| Proposal 1: Election of Directors | | | The eight nominees for director will be elected by an affirmative vote of a majority of the votes cast by holders of our Class A common stock present in person or by proxy and entitled to vote on the proposal at the Annual Meeting. | |
| Proposal 2: Ratification of the Selection of Our Independent Public Accountant | | | To be approved by our stockholders, this proposal requires the affirmative vote of a majority of the votes cast by holders of our Class A common stock present in person or by proxy and entitled to vote on the proposal at the Annual Meeting. | |
| Proposal 3: | ||||
| | If the advisory vote on the compensation of our named executive officers included in this proxy statement receives more votes “for” than “against,” then it will be deemed to be approved. | | ||
| Proposal 4: Approval of an amendment of the Amended and Restated Certificate of Incorporation of Cowen Group, Inc. to effect a 1-for-4 reverse stock split of our Class A common stock | | | To be approved by our stockholders, this proposal requires the affirmative vote of a majority of Class A common stock entitled to vote on the proposal at the Annual Meeting. | |
Director | | Fees Earned or Paid in Cash ($) | | Stock Awards ($)(1) | | Total | | | Fees Earned or Paid in Cash ($) | | Stock Awards ($)(1) | | Total | | ||||||||||||||||||||||||
Katherine Elizabeth Dietze(2) | | | | 84,375 | | | | | 84,375 | | | | | 168,750 | | | ||||||||||||||||||||||
Katherine E. Dietze | | | | 87,500 | | | | | 87,500 | | | | | 175,000 | | | ||||||||||||||||||||||
Steven Kotler | | | | 77,500 | | | | | 77,500 | | | | | 155,000 | | | | | | 77,500 | | | | | 77,500 | | | | | 155,000 | | | ||||||
Jerome S. Markowitz | | | | — | | | | | 205,000 | | | | | 205,000 | | | | | | — | | | | | 205,000 | | | | | 205,000 | | | ||||||
Jack H. Nusbaum | | | | — | | | | | 150,000 | | | | | 150,000 | | | | | | — | | | | | 150,000 | | | | | 150,000 | | | ||||||
Joseph R. Wright(3) | | | | — | | | | | 150,000 | | | | | 150,000 | | | ||||||||||||||||||||||
Douglas A. Rediker(3) | | | | 93,750 | | | | | 93,750 | | | | | 187,500 | | | ||||||||||||||||||||||
Joseph R. Wright(2) | | | | — | | | | | 150,000 | | | | | 150,000 | | |
| | What We Heard from Stockholders | | | | Actions Taken by the Compensation Committee | | |
| | • Concerns over the evergreen nature of the 2010 Plan. | | | | • After careful review, decided to retain the evergreen provision of the 2010 Plan to support incentive and retention needs for the business • Continued to carefully monitor the impact of the 2010 Plan to help ensure judicious use of equity consistent with our compensation philosophy. | | |
| | • A portion of executive compensation should be performance-based. | | | | • Eliminated minimum bonus guarantees for all named executive officers. • Approved the issuance of Performance Share Awards, or PSAs, to our named executive officers with prospective three-year AROE and relative TSR performance requirements, as described in more detail below on page 24. | | |
| | • No concern about the absolute amounts of compensation awarded to any of our named executive officers or the manner in which compensation is allocated. | | | | • Continued to deliver compensation consistent with our compensation philosophy, the Compensation Committee’s evaluation of Company and individual performance and industry norms. • Continued to deliver a significant portion of stock-based compensation subject to long-term vesting periods. | | |
| | • Support for our compensation governance practices | | | | • Adopted stock ownership and retention guidelines for executive officers. • Implemented a clawback policy for executive officers with respect to deferred bonus awards. • Adopted an annual (rather than triennial) say-on-pay vote. | | |
| | | Mr . Cohen | | | Mr. Solomon | | | Mr. Holmes | | | Mr. Lasota | | | Mr. Littman | | |||||||||||||||
Base Salary | | | | $ | 950,000 | | | | | $ | 950,000 | | | | | $ | 450,000 | | | | | $ | 450,000 | | | | | $ | 450,000 | | |
Cash Bonus | | | | $ | 1,465,000 | | | | | $ | 2,027,500 | | | | | $ | 925,000 | | | | | $ | 925,000 | | | | | $ | 925,000 | | |
Deferred Equity Award | | | | $ | 1,167,500 | | | | | $ | 1,404,550 | | | | | $ | 287,500 | | | | | $ | 287,500 | | | | | $ | 287,500 | | |
Deferred Cash-Based Award | | | | $ | 1,167,500 | | | | | $ | 1,417,950 | | | | | $ | 287,500 | | | | | $ | 287,500 | | | | | $ | 287,500 | | |
2015 Annual Compensation Total | | | | $ | 4,750,000 | | | | | $ | 5,800,000 | | | | | $ | 1,950,000 | | | | | $ | 1,950,000 | | | | | $ | 1,950,000 | | |
Long-Term Incentive Compensation – PSAs* | | | | $ | 1,279,833 | | | | | $ | 1,279,833 | | | | | $ | 1,097,000 | | | | | $ | 1,097,000 | | | | | $ | 1,097,000 | | |
RSUs** | | | | $ | 502,500 | | | | | $ | 502,500 | | | | | | — | | | | | | — | | | | | | — | | |
2015 Total Compensation with Long-Term Incentive Compensation | | | | $ | 6,532,333 | | | | | $ | 7,582,333 | | | | | $ | 3,047,000 | | | | | $ | 3,047,000 | | | | | $ | 3,047,000 | | |
|
| Performance Level* | | | AROE | | | Payout Rate | |
| Below Threshold | | | Below 5% | | | 0% Payout | |
| Threshold | | | 5% | | | 50% Payout | |
| Above Threshold | | | 7.5% | | | 75% Payout | |
| Target | | | 10% | | | 100% Payout | |
| Maximum (capped) | | | 12% | | | 150% Payout | |
| Relative TSR Position | | | Modifier* | |
| 25th percentile and below | | | 0.8 | |
| 50th percentile | | | 1.0 | |
| 75th percentile and above | | | 1.2 | |
| | | Mr. Cohen | | | Mr. Solomon | | | Mr. Holmes | | | Mr. Lasota | | | Mr. Littman | | ||||||||||||||||||||
Base Salary | | | | $ | 950,000 | | | | | $ | 950,000 | | | | | $ | 450,000 | | | | | $ | 450,000 | | | | | $ | 450,000 | | | |||||
Cash Bonus | | | | $ | 1,500,000 | | | | | $ | 1,988,125 | | | | | $ | 890,000 | | | | | $ | 890,000 | | | | | $ | 890,000 | | | |||||
Deferred Equity Award | | | | $ | 2,110,500 | | | | | $ | 1,708,081 | | | | | $ | 341,700 | | | | | $ | 341,700 | | | | | $ | 341,700 | | | |||||
Deferred Cash-Based Award | | | | $ | 1,039,500 | | | | | $ | 841,294 | | | | | $ | 168,300 | | | | | $ | 168,300 | | | | | $ | 168,300 | | | |||||
2014 Compensation Total | | | | $ | 5,600,000 | | | | | $ | 5,487,500 | | | | | $ | 1,850,000 | | | | | $ | 1,850,000 | | | | | $ | 1,850,000 | | | |||||
|
Name & Principal Position | | Year | | Salary ($) | | Bonus ($)(1) | | Stock Awards ($)(2) | | Option Awards ($) | | Change in Pension Value | | All Other Compensation | | Total ($) | | | Year | | Salary ($) | | Bonus ($)(1) | | Stock Awards ($)(2) | | Option Awards ($) | | Change in Pension Value | | All Other Compensation | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Peter A. Cohen Chairman and Chief Executive Officer | | | | | 2014 | | | | | 950,000 | | | | | 1,500,000 | | | | | 1,945,457 | | | | | — | | | | | — | | | | | 155,963(3) | | | | | 4,551,420 | | | | | | | 2015 | | | | | 950,000 | | | | | 1,465,000 | | | | | 2,505,075 | | | | | — | | | | | — | | | | | 152,782(3) | | | | | 5,072,857 | | | ||||||||||||||
| | | 2013 | | | | | 950,000 | | | | | 1,250,000 | | | | | 1,111,112 | | | | | — | | | | | 9,017 | | | | | 155,525 | | | | | 3,475,654 | | | | | | 2014 | | | | | 950,000 | | | | | 1,500,000 | | | | | 1,945,457 | | | | | — | | | | | — | | | | | 155,963 | | | | | 4,551,420 | | | |||||||||||||||||
| | | 2012 | | | | | 950,000 | | | | | 1,000,000 | | | | | — | | | | | — | | | | | 18,873 | | | | | 121,009 | | | | | 2,089,882 | | | | | | 2013 | | | | | 950,000 | | | | | 1,250,000 | | | | | 1,111,112 | | | | | — | | | | | 9,017 | | | | | 155,525 | | | | | 3,475,654 | | | |||||||||||||||||
Jeffrey M. Solomon President, and Chief Executive Officer of Cowen and Company | | | | | 2014 | | | | | 950,000 | | | | | 1,988,000 | | | | | 1,477,105 | | | | | — | | | | | — | | | | | 230,290(4) | | | | | 4,645,395 | | | | | | | 2015 | | | | | 950,000 | | | | | 2,027,500 | | | | | 2,027,424 | | | | | — | | | | | — | | | | | 166,331(4) | | | | | 5,171,255 | | | ||||||||||||||
| | | 2013 | | | | | 950,000 | | | | | 500,000 | | | | | 1,800,178 | | | | | — | | | | | 7,426 | | | | | 56,300 | | | | | 3,313,904 | | | | | | 2014 | | | | | 950,000 | | | | | 1,988,000 | | | | | 1,477,105 | | | | | — | | | | | — | | | | | 230,290 | | | | | 4,645,395 | | | |||||||||||||||||
| | | 2012 | | | | | 866,667 | | | | | 500,000 | | | | | 801,084 | | | | | — | | | | | 7,771 | | | | | 76,140 | | | | | 2,251,662 | | | | | | 2013 | | | | | 950,000 | | | | | 500,000 | | | | | 1,800,178 | | | | | — | | | | | 7,426 | | | | | 56,300 | | | | | 3,313,904 | | | |||||||||||||||||
Stephen A. Lasota Chief Financial Officer | | | | | 2014 | | | | | 450,000 | | | | | 890,000 | | | | | 402,580 | | | | | — | | | | | — | | | | | 105,578(5) | | | | | 1,848,158 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2013 | | | | | 450,000 | | | | | 450,000 | | | | | 779,465 | | | | | 81,000 | | | | | 2,440 | | | | | 42,068 | | | | | 1,804,973 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2012 | | | | | 450,000 | | | | | 450,000 | | | | | 418,157 | | | | | — | | | | | 2,553 | | | | | 21,962 | | | | | 1,342,672 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stephen A. Lasota. Chief Financial Officer | | | | | 2015 | | | | | 450,000 | | | | | 925,000 | | | | | 405,585 | | | | | — | | | | | — | | | | | 88,926(5) | | | | | 1,869,511 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2014 | | | | | 450,000 | | | | | 890,000 | | | | | 402,580 | | | | | — | | | | | — | | | | | 105,578 | | | | | 1,848,158 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2013 | �� | | | | 450,000 | | | | | 450,000 | | | | | 779,465 | | | | | 81,000 | | | | | 2,440 | | | | | 42,068 | | | | | 1,804,973 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
John Holmes(6) Chief Operating Officer | | | | | 2015 | | | | | 450,000 | | | | | 925,000 | | | | | 405,585 | | | | | — | | | | | — | | | | | 88,926(5) | | | | | 1,869,511 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 2014 | | | | | 450,000 | | | | | 890,000 | | | | | 402,580 | | | | | — | | | | | — | | | | | 105,578(5) | | | | | 1,848,158 | | | | | | 2014 | | | | | 450,000 | | | | | 890,000 | | | | | 402,580 | | | | | — | | | | | — | | | | | 105,578 | | | | | 1,848,158 | | | ||||||||||||||||
| | | 2013 | | | | | 450,000 | | | | | 450,000 | | | | | 779,465 | | | | | 81,000 | | | | | 2,710 | | | | | 42,068 | | | | | 1,805,243 | | | | | | 2013 | | | | | 450,000 | | | | | 450,000 | | | | | 779,465 | | | | | 81,000 | | | | | 2,710 | | | | | 42,068 | | | | | 1,805,243 | | | |||||||||||||||||
Owen S. Littman General Counsel and Secretary | | | | | 2014 | | | | | 450,000 | | | | | 890,000 | | | | | 402,580 | | | | | — | | | | | — | | | | | 105,578(5) | | | | | 1,848,158 | | | | | | | 2015 | | | | | 450,000 | | | | | 925,000 | | | | | 405,585 | | | | | — | | | | | — | | | | | 88,926(5) | | | | | 1,869,511 | | | ||||||||||||||
| | | 2013 | | | | | 450,000 | | | | | 450,000 | | | | | 779,465 | | | | | 81,000 | | | | | 1,588 | | | | | 42,068 | | | | | 1,804,121 | | | | | | 2014 | | | | | 450,000 | | | | | 890,000 | | | | | 402,580 | | | | | — | | | | | — | | | | | 105,578 | | | | | 1,848,158 | | | |||||||||||||||||
| | | 2012 | | | | | 450,000 | | | | | 450,000 | | | | | 418,157 | | | | | — | | | | | 1,662 | | | | | 21,962 | | | | | 1,341,781 | | | | | | 2013 | | | | | 450,000 | | | | | 450,000 | | | | | 779,465 | | | | | 81,000 | | | | | 1,588 | | | | | 42,068 | | | | | 1,804,121 | | |
| | | Grant Date | | | Corporate Action Date | | | All Other Stock Awards: Number of Shares of Stock or Units (#)(1) | | | All Other Option Awards: Number of Securities Underlying Options (#) | | | Exercise or Base Price of Option Awards ($/sh) | | | Grant Date Fair Value of Stock and Option Awards ($)(2) | | ||||||||||||||||||
Peter A. Cohen | | | | | 3/19/2015 | | | | | | 3/16/2015 | | | | | | 458,805 | | | | | | — | | | | | | — | | | | | | 2,505,075 | | |
Jeffrey M. Solomon | | | | | 3/19/2015 | | | | | | 3/16/2015 | | | | | | 371,323 | | | | | | — | | | | | | — | | | | | | 2,027,424 | | |
Stephen A. Lasota | | | | | 3/19/2015 | | | | | | 3/16/2015 | | | | | | 74,283 | | | | | | — | | | | | | — | | | | | | 405,585 | | |
John Holmes | | | | | 3/19/2015 | | | | | | 3/16/2015 | | | | | | 74,283 | | | | | | — | | | ��� | | | — | | | | | | 405,585 | | |
Owen S. Littman | | | | | 3/19/2015 | | | | | | 3/16/2015 | | | | | | 74,283 | | | | | | — | | | | | | — | | | | | | 405,585 | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||
| | | Number of Securities Underlying Unexercised Options (#) Exercisable | | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of Shares that have Not Vested (#) | | | Market Value of Shares that have Not Vested ($)(1) | | ||||||||||||||||||
Peter A. Cohen | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2012 Award(2) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 287,357 | | | | | | 1,379,314 | | |
2013 Award(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 454,546 | | | | | | 2,181,821 | | |
Jeffrey M. Solomon | | | | | | | | ||||||||||||||||||||||||||||||
2011 Award(4) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 30,784 | | | | | | 147,763 | | |
2012 Award(5) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 373,564 | | | | | | 1,793,107 | | |
Employment Agreement Award(6) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 125,000 | | | | | | 600,000 | | |
2013 Award(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 345,118 | | | | | | 1,656,566 | | |
Stephen A. Lasota | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2011 Award(4) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 20,990 | | | | | | 100,752 | | |
2011 Incentive Award(7) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 30,000 | | | | | | 144,000 | | |
2012 Award(5) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 86,208 | | | | | | 413,798 | | |
Employment Agreement Award(8) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,000 | | | | | | 240,000 | | |
2012 SAR Award(9) | | | | | 0 | | | | | | 100,000 | | | | | $ | 2.90 | | | | | | 3/15/2018 | | | | | | — | | | | | | — | | |
2013 Award(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 55,556 | | | | | | 266,669 | | |
2014 July Award(10) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 40,000 | | | | | | 192,000 | | |
John Holmes | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2011 Award(4) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 20,990 | | | | | | 100,752 | | |
2011 Incentive Award(7) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 30,000 | | | | | | 144,000 | | |
2012 Award(5) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 86,208 | | | | | | 413,798 | | |
Employment Agreement Award(8) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,000 | | | | | | 240,000 | | |
2012 SAR Award(9) | | | | | 0 | | | | | | 100,000 | | | | | $ | 2.90 | | | | | | 3/15/2018 | | | | | | — | | | | | | — | | |
2013 Award(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 55,556 | | | | | | 266,669 | | |
2014 July Award(10) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 40,000 | | | | | | 192,000 | | |
Owen S. Littman | | | | | | | | ||||||||||||||||||||||||||||||
2011 Award(4) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 20,990 | | | | | | 100,752 | | |
2011 Incentive Award(7) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 30,000 | | | | | | 144,000 | | |
2012 Award(5) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 86,208 | | | | | | 413,798 | | |
Employment Agreement Award(8) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,000 | | | | | | 240,000 | | |
2012 SAR Award(9) | | | | | 0 | | | | | | 100,000 | | | | | $ | 2.90 | | | | | | 3/15/2018 | | | | | | — | | | | | | — | | |
2013 Award(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 55,556 | | | | | | 266,669 | | |
2014 July Award(10) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 40,000 | | | | | | 192,000 | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||
| | | Number of Securities Underlying Unexercised Options (#) Exercisable | | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of Shares that Have Not Vested (#) | | | Market Value of Shares that Have Not Vested ($)(1) | | ||||||||||||||||||
Peter A. Cohen | | | | | | | | ||||||||||||||||||||||||||||||
2012 Award(2) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 191,572 | | | | | | 733,721 | | |
2013 Award(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 409,092 | | | | | | 1,566,822 | | |
2014 Award(4) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 458,805 | | | | | | 1,757,223 | | |
Jeffrey M. Solomon | | | | | | | | ||||||||||||||||||||||||||||||
2011 Award(5) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 15,392 | | | | | | 58,951 | | |
2012 Award(6) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 269,797 | | | | | | 1,033,323 | | |
2013 Award(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 310,607 | | | | | | 1,189,625 | | |
2014 Award(4) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 371,323 | | | | | | 1,422,167 | | |
Stephen A. Lasota | | | | | | | | ||||||||||||||||||||||||||||||
2011 Award(5) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,496 | | | | | | 40,200 | | |
2012 Award(6) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 62,262 | | | | | | 238,463 | | |
2012 SAR Award(7) | | | | | 0 | | | | | | 100,000 | | | | | $ | 2.90 | | | | | | 3/15/2018 | | | | | | — | | | | | | — | | |
2013 Award(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,001 | | | | | | 191,504 | | |
2014 July Award(8) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 40,000 | | | | | | 153,200 | | |
2014 Award(4) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 74,283 | | | | | | 284,504 | | |
John Holmes | | | | | | | | ||||||||||||||||||||||||||||||
2011 Award(5) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,496 | | | | | | 40,200 | | |
2012 Award(6) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 62,262 | | | | | | 238,463 | | |
2012 SAR Award(7) | | | | | 0 | | | | | | 100,000 | | | | | $ | 2.90 | | | | | | 3/15/2018 | | | | | | — | | | | | | — | | |
2013 Award(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,001 | | | | | | 191,504 | | |
2014 July Award(8) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 40,000 | | | | | | 153,200 | | |
2014 Award(4) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 74,283 | | | | | | 284,504 | | |
Owen S. Littman | | | | | | | | ||||||||||||||||||||||||||||||
2011 Award(5) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,496 | | | | | | 40,200 | | |
2012 Award(6) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 62,262 | | | | | | 238,463 | | |
2012 SAR Award(7) | | | | | 0 | | | | | | 100,000 | | | | | $ | 2.90 | | | | | | 3/15/2018 | | | | | | — | | | | | | — | | |
2013 Award(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,001 | | | | | | 191,504 | | |
2014 July Award(8) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 40,000 | | | | | | 153,200 | | |
2014 Award(4) | | | | | — | | | | | | — | | | | | | — | | | | | | | | | | | | 74,283 | | | | | | 284,504 | | |
Name | | Number of Shares Acquired on Vesting | | Value Realized on Vesting ($)(1) | | | Number of Shares Acquired on Vesting | | Value Realized on Vesting ($)(1) | | ||||||||||||||||
Peter A. Cohen | | | | 150,135 | | | | | 620,058 | | | | | | 141,239 | | | | | 825,210 | | | ||||
Jeffrey M. Solomon | | | | 209,347 | | | | | 816,344 | | | | | | 278,670 | | | | | 1,561,050 | | | ||||
Stephen A. Lasota | | | | 118,130 | | | | | 471,158 | | | | | | 119,995 | | | | | 685,749 | | | ||||
John Holmes | | | | 115,072 | | | | | 458,528 | | | | | | 119,995 | | | | | 685,749 | | | ||||
Owen S. Littman | | | | 118,130 | | | | | 471,158 | | | | | | 119,995 | | | | | 685,749 | | |
| | | | Triggering Events | | | | | | | | | | | | | | | Triggering Events | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||
Name | | Type of Payment | | Voluntary Termination ($) | | Involuntary Termination ($) | | Involuntary Termination in connection with a Change in Control(6) ($) | | Death ($) | | Disability ($) | | | Type of Payment | | Voluntary Termination ($) | | Involuntary Termination ($) | | Involuntary Termination in Connection with a Change in Control(6) ($) | | Death ($) | | Disability ($) | | ||||||||||||||||||||||||||||||||||||||||||
Peter A. Cohen | | Cash Severance | | | | 0 | | | | | 4,400,000(1) | | | | | 4,400,000(1) | | | | | 0 | | | | | 0 | | | | Cash Severance(1) | | | | 0 | | | | | 5,946,697 | | | | | 5,946,697 | | | | | 1,046,697 | | | | | 1,046,697 | | | ||||||||||||
| | Equity Acceleration(2) | | | | 0 | | | | | 3,561,134 | | | | | 3,561,134 | | | | | 3,561,134 | | | | | 3,561,134 | | | | Equity Acceleration(2) | | | | 0 | | | | | 4,057,766 | | | | | 4,057,766 | | | | | 4,057,766 | | | | | 4,057,766 | | | ||||||||||||
| | Total | | | | 0 | | | | | 7,961,134 | | | | | 7,961,134 | | | | | 3,561,134 | | | | | 3,561,134 | | | | Total | | | | 0 | | | | | 10,004,463 | | | | | 10,004,463 | | | | | 5,104,463 | | | | | 5,104,463 | | | ||||||||||||
Jeffrey M. Solomon | | Cash Severance(3) | | | | 0 | | | | | 7,778,595 | | | | | 7,778,595 | | | | | 2,778,595 | | | | | 2,778,595 | | | | Cash Severance(3) | | | | 0 | | | | | 9,165,826 | | | | | 9,165,826 | | | | | 4,278,506 | | | | | 4,278,506 | | | ||||||||||||
| | Equity Acceleration(2) | | | | 0 | | | | | 4,197,437 | | | | | 4,197,437 | | | | | 4,197,437 | | | | | 4,197,437 | | | | Equity Acceleration(2) | | | | 0 | | | | | 3,704,066 | | | | | 3,704,066 | | | | | 3,704,066 | | | | | 3,704,066 | | | ||||||||||||
| | Total | | | | 0 | | | | | 11,976,031 | | | | | 11,976,031 | | | | | 6,976,032 | | | | | 6,976,032 | | | | Total | | | | 0 | | | | | 12,869,892 | | | | | 12,869,892 | | | | | 7,982,572 | | | | | 7,982,572 | | | ||||||||||||
Stephen A. Lasota | | Cash Severance | | | | 0 | | | | | 2,852,999(4) | | | | | 3,852,999(5) | | | | | 1,352,999(4) | | | | | 1,352,999(4) | | | | Cash Severance | | | | 0 | | | | | 3,146,609(4) | | | | | 4,146,609(5) | | | | | 1,560,484(4) | | | | | 1,560,484(4) | | | ||||||||||||
| | Equity Acceleration(2) | | | | 0 | | | | | 1,547,219 | | | | | 1,547,219 | | | | | 1,547,219 | | | | | 1,547,219 | | | | Equity Acceleration(2) | | | | 0 | | | | | 907,871 | | | | | 907,871 | | | | | 907,871 | | | | | 907,871 | | | ||||||||||||
| | Total | | | | 0 | | | | | 4,400,218 | | | | | 5,400,218 | | | | | 2,900,218 | | | | | 2,900,218 | | | | Total | | | | 0 | | | | | 4,054,480 | | | | | 5,054,480 | | | | | 2,468,355 | | | | | 2,468,355 | | | ||||||||||||
John Holmes | | Cash Severance | | | | 0 | | | | | 2,854,296(4) | | | | | 3,854,296(5) | | | | | 1,354,296(4) | | | | | 1,354,296(4) | | | | Cash Severance | | | | 0 | | | | | 3,163,779(4) | | | | | 4,163,779(5) | | | | | 1,577,654(4) | | | | | 1,577,654(4) | | | ||||||||||||
| | Equity Acceleration(2) | | | | 0 | | | | | 1,547,219 | | | | | 1,547,219 | | | | | 1,547,219 | | | | | 1,547,219 | | | | Equity Acceleration(2) | | | | 0 | | | | | 907,871 | | | | | 907,871 | | | | | 907,871 | | | | | 907,871 | | | ||||||||||||
| | Total | | | | 0 | | | | | 4,401,515 | | | | | 5,401,515 | | | | | 2,901,515 | | | | | 2,901,515 | | | | Total | | | | 0 | | | | | 4,071,649 | | | | | 5,071,649 | | | | | 2,485,525 | | | | | 2,485,525 | | | ||||||||||||
Owen S. Littman | | Cash Severance | | | | 0 | | | | | 2,843,001(4) | | | | | 3,843,001(5) | | | | | 1,343,001(4) | | | | | 1,343,001(4) | | | | Cash Severance | | | | 0 | | | | | 3,146,609(4) | | | | | 4,146,609(5) | | | | | 1,560,484(4) | | | | | 1,560,484(4) | | | ||||||||||||
| | Equity Acceleration(2) | | | | 0 | | | | | 1,547,219 | | | | | 1,547,219 | | | | | 1,547,219 | | | | | 1,547,219 | | | | Equity Acceleration(2) | | | | 0 | | | | | 907,871 | | | | | 907,871 | | | | | 907,871 | | | | | 907,871 | | | ||||||||||||
| | Total | | | | 0 | | | | | 4,390,220 | | | | | 5,390,220 | | | | | 2,890,220 | | | | | 2,890,220 | | | | Total | | | | 0 | | | | | 4,054,480 | | | | | 5,054,480 | | | | | 2,468,355 | | | | | 2,468,355 | | |
| | Amount and Nature of Beneficial Ownership | | Percent of Class | | | Amount and Nature of Beneficial Ownership | | Percent of Class | | ||||||||||||||||
Executive Officers and Directors: | | | | | | | | | | | | | | | | | | | | | | | ||||
Peter A. Cohen | | | | 3,105,423 | | | | | 2.8% | | | | | | 3,218,495 | | | | | 3.0% | | | ||||
Katherine Elizabeth Dietze | | | | 48,030(1) | | | | | * | | | |||||||||||||||
Katherine E. Dietze | | | | 48,030(1) | | | | | * | | | |||||||||||||||
Steven Kotler | | | | 10,000(2) | | | | | * | | | | | | 10,000(2) | | | | | * | | | ||||
Jerome S. Markowitz | | | | 364,335(3) | | | | | * | | | | | | 413,148(3) | | | | | * | | | ||||
Jack H. Nusbaum | | | | 197,728(4) | | | | | * | | | | | | 233,445(4) | | | | | * | | | ||||
Douglas A. Rediker | | | | 0 | | | | | * | | | | | | 0(5) | | | | | * | | | ||||
Jeffrey M. Solomon | | | | 864,556 | | | | | * | | | | | | 1,052,778 | | | | | * | | | ||||
Joseph R. Wright | | | | 103,217(5) | | | | | * | | | | | | 103,217(6) | | | | | * | | | ||||
John Holmes | | | | 218,966 | | | | | * | | | | | | 257,825 | | | | | * | | | ||||
Stephen A. Lasota | | | | 303,224 | | | | | * | | | | | | 388,743 | | | | | * | | | ||||
Owen S. Littman | | | | 238,789 | | | | | * | | | | | | 262,867 | | | | | * | | | ||||
All directors and executive officers as a group (12 persons) | | | | 5,456,716 | | | | | 4.9% | | | | | | 5,242,998 | | | | | 4.9% | | |
Name and Address of Beneficial Owner | | Amount and Nature of Beneficial Ownership | | Percent of Class | | | Amount and Nature of Beneficial Ownership | | Percent of Class | | ||||||||||||||||
Ariel Investments, LLC(1) 200 East Randolph Drive Suite 2900 Chicago, IL 60601 | | | | 10,175,653 | | | | | 9.14% | | | | | | 11,318,713 | | | | | 10.66% | | | ||||
Fine Capital Partners, L.P.(2) 590 Madison Avenue, 27th floor New York, NY 10022 | | | | 9,130,998 | | | | | 8.20% | | | |||||||||||||||
BlackRock, Inc.(3) 40 East 52nd Street New York, NY 10022 | | | | 7,052,546 | | | | | 6.34% | | | |||||||||||||||
Fine Capital Partners, L.P.(2) 590 Madison Avenue, 27th floor New York, NY 10022 | | | | 9,948,463 | | | | | 9.37% | | | |||||||||||||||
Zazove Associates, LLC(3) 1001 Tahoe Boulevard Incline Village, NV 89451 | | | | 9,072,560 | | | | | 8.54% | | | |||||||||||||||
BlackRock, Inc.(4) 55 East 52nd Street New York, NY 10055 | | | | 7,537,972 | | | | | 7.10% | | | |||||||||||||||
The Vanguard Group(5) 100 Vanguard Boulevard Malvern, PA 19355 | | | | 6,878,275 | | | | | 6.48% | | | |||||||||||||||
Lazard Asset Management LLC(6) 30 Rockefeller Plaza New York, NY 10112 | | | | 5,750,000 | | | | | 5.41% | | |
| | 2014 | | 2013 | | | 2015 | | 2014 | | ||||||||||||||||
Audit Fees(1) | | | $ | 4,219,480 | | | | $ | 4,316,305 | | | | | $ | 4,686,513 | | | | $ | 4,219,480 | | | ||||
Audit-Related Fees(2) | | | | 176,259 | | | | | 116,520 | | | | | | 169,960 | | | | | 176,259 | | | ||||
Tax Fees(3) | | | | 506,611 | | | | | 316,000 | | | | | | 502,237 | | | | | 506,611 | | | ||||
Total | | | $ | 4,902,350 | | | | $ | 4,748,825 | | | | | $ | 5,358,710 | | | | $ | 4,902,350 | | | |
Plan Category | | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights | | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights | | Number of Securities Remaining Available for Future Issuance Under the Equity Compensation Plans (Excluding Shares in First Column) | | | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights | | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights | | Number of Securities Remaining Available for Future Issuance Under the Equity Compensation Plans (Excluding Shares in First Column) | | ||||||||||||||||||||||||
Equity compensation plans approved by security holders | | | | 216,672 | | | | $ | 5.65 | | | | | 1,156,205 | | | | | | 16,667 | | | | | 4.89 | | | | | 849,726 | | | ||||||
Equity compensation plans not approved by security holders | | None | | N/A | | None | | | | | None | | | | | N/A | | | | | None | | |