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| Proxy Statement | | | | | 1 | | |
| Questions and Answers About the Annual Meeting and the Proxy Materials | | | | | 2 | | |
| Proposal 1 | | | | | 5 | | |
| Corporate Governance | | | | | | | |
| Board Structure and Committee Composition | | | | | | | |
| Our Company’s Executive Officers | | | | | | | |
| Transactions with Related Persons | | | | | | | |
| Stock Ownership Information | | | | | | | |
| Securities Authorized for Issuance under Equity Compensation Plans | | | | | | | |
| Delinquent Section 16(a) Reports | | | | | | | |
| Proposal 2 | | | | | | | |
| Compensation Discussion and Analysis | | | | | | | |
| Executive Compensation | | | | | | | |
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| Proposal | | | | | | | |
| Proposal | | | | | | | |
| Proposal | | | | | | | |
| Proposal | | | | | | | |
| Proposal | | | | | | | |
| Shareholder Proposals and Director Nominations | | | | | | | |
| Householding | | | | | | | |
| Appendix A | | | | | A-1 | ||
| |
Voting Item | | | Votes Required to Approve Proposal (if quorum is present) | | | Abstentions and Broker Non-Votes | |
1. Election of Directors | | | Majority of Votes Cast. Votes cast “for” must exceed the votes cast “against” | | | Not counted as votes cast and therefore have no effect | |
2. Approval of Executive Compensation | | | Majority of Votes Cast. Proposal is deemed approved if votes “for” exceed votes cast “against.” The Board takes the voting results under advisement | | | Not counted as votes cast and therefore have no effect | |
3. Appointment of PwC as independent registered public accounting firm and authorization of the Audit Committee to set auditors’ remuneration | | | Majority of Votes Cast. Votes cast “for” must exceed the votes cast “against”. The Board takes the voting results with respect to the appointment of PwC under advisement | | | Abstentions are not counted as votes cast and therefore have no effect; brokers may vote without instruction | |
4. Approval of Board Authority to Issue Shares | | | Majority of Votes Cast. Votes cast “for” must exceed the votes cast “against” | | | Not counted as votes cast and therefore have no effect | |
5. Approval of Board Authority to Opt Out of Statutory Pre-emption Rights | | | 75% of the Votes Cast: Votes cast “for” must meet or exceed 75% of total votes cast | | | Not counted as votes cast and therefore have no effect | |
6. | | | 75% of the Votes Cast: Votes cast “for” must meet or exceed 75% of total votes cast | | | Not counted as votes cast and therefore have no effect | |
7. | |||||||
| | Majority of Votes Cast. Votes cast “for” must exceed the votes cast “against” | | | Not counted as votes cast and therefore have no effect | |
| Director Nominee | | | Served Since | | | Chemicals Industry Experience | | | Related Industry Experience | | | Chief Executive Experience | | | Accounting and Financial Experience | | | Public Company Board Experience | | ||||||||||||||||||||||||||||||
| K’Lynne Johnson | | | | | 2017 | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | | ✓ | | | ||||||||||||
| Joseph Alvarado | | | | | 2017 | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | ||||||||||||
| Frank Bozich | | | | | 2019 | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | | ✓ | | | ||||||||||||
| Victoria Brifo | | | | | 2021 | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | | | | | | | | | | | ||||||||||||
| Jeffrey J. Cote | | | | | 2014 | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | ||||||||||||
| Pierre-Marie De Leener | | | | | 2014 | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | ✓ | | | | | | | | | ||||||||||||
| Jeanmarie Desmond | | | | | 2020 | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | | | ||||||||||||
| Matthew Farrell | | | | | 2020 | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | ||||||||||||
| Sandra Beach Lin | | | | | 2019 | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | | ✓ | | | ||||||||||||
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Henri Steinmetz | | | | | 2017 | | | | | | ✓ | | | | | | ✓ | | | | | | ✓ | | | | | | | | | | | | | | | |||||||||||||
| Mark Tomkins | | | | | 2019 | | | | | | ✓ | | | | | | | | | | | | | | | | | ✓ | | | | | | ✓ | | |
| | | | | |
| | THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT YOU VOTE “FOR” THE ELECTION OF EACH OF THE NOMINEES AS DIRECTOR. | | |
| | | K’lynne Johnson Age: Director Since: March 2017 Committee Membership: • Compensation and Talent Development • Nominating & Corporate Governance | |
| | | Joseph Alvarado Age: Director Since: March 2017 Committee Membership: • Compensation and Talent Development (Chair) • Nominating & Corporate Governance | |
| | | Frank A. Bozich Age: Director Since: June 2019 Committee Membership: • Environmental, Health, Safety, Sustainability & Public Policy | |
| | | Victoria Brifo Age: Director Since: June 2021 Committee Membership: • Compensation and Talent Development • Environmental, Health, Safety, Sustainability & Public Policy | |
| | | Jeffrey J. Cote Age: Director Since: May 2014 Committee Membership: • Audit • Environmental, Health, Safety, Sustainability & Public Policy | |
| | | Pierre-Marie De Leener Age: Director Since: May 2014 Committee Membership: • Compensation and Talent Development • Environmental, Health, Safety, Sustainability & Public Policy | |
| | | Jeanmarie Desmond Age: Director Since: October 2020 Committee Membership: • Audit • Environmental, Health, Safety, Sustainability & Public Policy | |
| | | Matthew Farrell Age: Director Since: November 2020 Committee Membership: • Audit • Compensation and Talent Development | |
| | | Sandra Beach Lin Age: Director Since: November 2019 Committee Membership: • Nominating & Corporate Governance • Environmental, Health, Safety, Sustainability & Public Policy (Chair) | |
|
| | Henri Steinmetz Age: Director Since: November 2017 Committee Membership: • Audit • Environmental, Health, Safety, Sustainability & Public Policy | |
| | | Mark Tomkins Age: Director Since: November 2019 Committee Membership: • Audit (Chair) • Nominating & Corporate Governance | |
| Board of Directors | | | • Strategic, financial, and execution risks and exposures associated with our annual and multi-year business plans • Acquisitions and divestures • Capital expenditure and budget planning • Major litigation, investigations, and other matters that present material risk to our operations, plans, prospects, or reputation • Review of enterprise risk management including cybersecurity and information security risk oversight | |
| Audit Committee | | | • Risks associated with financial accounting matters, including financial reporting, accounting, disclosure, and internal controls over financial reporting • Supervision and selection of our external and internal auditors • Our ethics and compliance programs | |
| Compensation and Talent Development Committee | | | • Risks related to the design of our executive compensation programs, plans, and arrangements • Senior management succession planning | |
| Nominating and Corporate Governance Committee | | | • Risks related to our governance structures and processes • Director succession planning | |
| Environmental, Health, Safety, Sustainability and Public Policy Committee | | | • Our environmental, health and safety risk management programs • The alignment of our environmental, health, safety, sustainability, social and public policy program with the Company’s business strategy and creation of stakeholder value | |
| Name | | | Audit | | | Compensation and Talent Development | | | Nominating and Corporate Governance | | | Environmental, Health, Safety, Sustainability and Public Policy | |
| K’Lynne Johnson † | | | | | | ✓ | | | ✓ | | | | |
| Joseph Alvarado | | | | | | | | ✓ | | | | | |
| Frank Bozich | | | | | | | | | | | | ✓ | |
| Victoria Brifo | | | | | | ✓ | | | | | | ✓ | |
| Jeffrey J. Cote § | | | ✓ | | | | | | | | | ✓ | |
| Pierre-Marie De Leener | | | | | | ✓ | | | | | | ✓ | |
| Jeanmarie Desmond § | | | ✓ | | | | | | | | | ✓ | |
| Matthew Farrell § | | | ✓ | | | ✓ | | | | | | | |
| Sandra Beach Lin | | | | | | | | | ✓ | | | | |
| Philip R. Martens * | | | | | | ✓ | | | Chair | | | | |
| Donald T. Misheff § * | | | ✓ | | | | | | ✓ | | | | |
| Henri Steinmetz | | | ✓ | | | | | | | | | ✓ | |
| Mark Tomkins § | | | Chair | | | | | | ✓ | | | | |
| | | | | |
| Name | | Total Number of Shares Beneficially Owned | | Percent of Class (1) | | Of Number of Shares Beneficially Owned, Shares which May be Acquired within 60 Days (2) | | Name | | Total Number of Shares Beneficially Owned | | Percent of Class (1) | | Of Number of Shares Beneficially Owned, Shares which May be Acquired within 60 Days (2) | | ||||||||||||||||||||||||
| M&G Investment Management Limited (3) | | | | 7,628,044 | | | | | 20.5% | | | | | — | | | M&G Investment Management Limited (3) | | | | 7,625,044 | | | | | 21.7% | | | | | — | | | ||||||
| BlackRock, Inc. (4) | | | | 6,252,810 | | | | | 16.8% | | | | | — | | | BlackRock, Inc. (4) | | | | 5,811,878 | | | | | 16.5% | | | | | — | | | ||||||
| FMR LLC (5) | | | | 2,533,469 | | | | | 6.8% | | | | | — | | | Frank A. Bozich | | | | 243,777 | | | | | * | | | | | 144,105 | | | ||||||
| Frank A. Bozich | | | | 194,400 | | | | | * | | | | | 110,938 | | | David Stasse | | | | 87,813 | | | | | * | | | | | 45,840 | | | ||||||
| David Stasse | | | | 54,802 | | | | | * | | | | | 25,608 | | | Angelo N. Chaclas | | | | 102,308 | | | | | * | | | | | 69,152 | | | ||||||
| Angelo N. Chaclas | | | | 75,709 | | | | | * | | | | | 52,775 | | | Andre Lanning | | | | 15,894 | | | | | * | | | | | 12,289 | | | ||||||
| Andre Lanning | | | | 5,595 | | | | | * | | | | | 5,595 | | | Paula Cooney | | | | 3,993 | | | | | * | | | | | 2,644 | | | ||||||
| Francesca Reverberi | | | | 19,859 | | | | | | | | | | 14,792 | | | Joseph Alvarado | | | | 13,512 | | | | | * | | | | | — | | | ||||||
| Joseph Alvarado | | | | 12,351 | | | | | * | | | | | — | | | Victoria Brifo | | | | 1,175 | | | | | * | | | | | — | | | ||||||
| Victoria Brifo | | | | — | | | | | * | | | | | — | | | Jeffrey J. Cote | | | | 26,934 | | | | | * | | | | | — | | | ||||||
| Jeffrey J. Cote | | �� | | 15,787 | | | | | * | | | | | — | | | Pierre-Marie De Leener | | | | 8,920 | | | | | * | | | | | — | | | ||||||
| Pierre-Marie De Leener | | | | 7,745 | | | | | * | | | | | — | | | Jeanmarie Desmond | | | | 5,332 | | | | | * | | | | | — | | | ||||||
| Jeanmarie Desmond | | | | — | | | | | * | | | | | — | | | Matthew Farrell | | | | 18,175 | | | | | * | | | | | — | | | ||||||
| Matthew Farrell | | | | 17,000 | | | | | * | | | | | — | | | K’Lynne Johnson | | | | 9,952 | | | | | * | | | | | — | | | ||||||
| K’Lynne Johnson | | | | 8,805 | | | | | * | | | | | — | | | Sandra Beach Lin | | | | 6,116 | | | | | * | | | | | — | | | ||||||
| Sandra Beach Lin | | | | 4,955 | | | | | * | | | | | — | | | Philip R. Martens | | | | 7,117 | | | | | * | | | | | — | | | ||||||
| Philip R. Martens | | | | 12,870 | | | | | * | | | | | — | | | Donald T. Misheff | | | | 17,370 | | | | | * | | | | | — | | | ||||||
| Donald T. Misheff | | | | 16,195 | | | | | * | | | | | — | | | Henri Steinmetz | | | | 26,199 | | | | | * | | | | | — | | | ||||||
| Henri Steinmetz | | | | 25,024 | | | | | * | | | | | — | | | Mark Tomkins | | | | 8,902 | | | | | * | | | | | — | | | ||||||
| Mark Tomkins | | | | 7,755 | | | | | * | | | | | — | | | All Directors, Nominees and Executive Officers as a Group (27 persons) (5) | | | | 762,238 | | | | | 2.5% | | | | | 391,363 | | | ||||||
| All Directors, Nominees and Executive Officers as a Group (25 persons) (6) | | | | 546,380 | | | | | 1.5% | | | | | 259,553 | | |
| Plan Category | | Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) | | Weighted-average exercise price of outstanding options, warrants and rights (b) | | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) | | Plan Category | | Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) | | Weighted-average exercise price of outstanding options, warrants and rights (b) | | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) | | ||||||||||||||||||||||||
| Equity compensation plans approved by securityholders | | | | 2,060,230 (1) | | | | | 48.78 (2) | | | | | 1,848,284 | | | Equity compensation plans approved by securityholders | | | | 2,086,885 (1) | | | | | 51.99 (2) | | | | | 1,657,226 | | | ||||||
| Equity compensation plans not approved by securityholders | | | | — | | | | | — | | | | | — | | | Equity compensation plans not approved by securityholders | | | | — | | | | | — | | | | | — | | | ||||||
| Total | | | | 2,060,230 | | | | | 48.78 | | | | | 1,848,284 | | | Total | | | | 2,086,885 | | | | | 51.99 | | | | | 1,657,226 | | |
| | THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “FOR” THE ADVISORY VOTE ON NAMED EXECUTIVE OFFICER COMPENSATION. | | |
| Name | | | Position | |
| Frank A. Bozich | | | President and Chief Executive Officer | |
| David Stasse | | | Executive Vice President and Chief Financial Officer | |
| Angelo N. Chaclas | | | Senior Vice President, Chief Legal Officer, Chief Compliance Officer and Corporate Secretary | |
| Andre Lanning | | | Senior Vice President and Chief Commercial Officer | |
| | | Senior Vice President and Chief | |
| | | |
| Clawback and Recoupment Policies | | | We have the right to claw back incentive-based compensation to the extent it was awarded on the achievement of financial results subject to an accounting restatement that should have resulted in the executive receiving a lower amount of compensation had our financial results been properly reported. The Board can recoup this compensation by requiring the reimbursement of compensation previously paid, cancelling outstanding vested or unvested equity awards, or taking any other action permitted by law. Our equity award agreements also provide for the reimbursement of all or part of any annual incentive compensation if there is a breach by the executive of his or her award agreement or any non-competition, non-solicitation, confidentiality or similar covenant or agreement with us or an overpayment of incentive compensation due to inaccurate financial data. | |
| Share Ownership Guidelines | | | The compensation committee has adopted share ownership guidelines equal to (i) six times base salary for the CEO, and (ii) two times base salary for our other NEOs. The guideline must be achieved by 5 years from the date of hire for newly hired executives. Due to a decline in stock price, Mr. Chaclas was not in compliance with the share ownership guidelines as of December 31, 2022. All other executives to whom the share ownership guidelines apply were in compliance at Under our stock ownership guidelines, a failure to meet the guidelines due to a decline in stock price is not deemed a breach if the employee met the guidelines in the prior year. Until the ownership requirement is met, the executive must retain as a holding requirement: (i) 50% of the shares issued after vesting and settlement of restricted stock units (“RSUs”) (net of all applicable taxes), (ii) 50% of the shares issued following the exercise of a stock option (after satisfaction of the option exercise price and net of applicable taxes), and (iii) 50% of the shares issued after vesting and settlement of performance stock units (“PSUs”) (net of all applicable taxes). | |
| Mitigate Undue Risk and Risk Assessment | | | The compensation committee regularly assesses whether our compensation programs and arrangements for our employees encourage excessive risk-taking. We mitigate undue risk in our compensation program by instituting strong governance policies such as capping potential payments, utilizing multiple performance metrics, striking a balance between short- and long-term incentives and adopting share ownership requirements. | |
| Compensation at Risk | | | We grant a high percentage of at-risk compensation to our executive officers. We believe this is essential to creating a culture of pay-for-performance. | |
| Double-Trigger Change-in-Control Provisions | | | Our executive officers only receive change-in-control benefits under their equity awards or their employment agreements if their employment is also terminated without cause (or by the executive for good reason) within a specified period following a change in control. | |
| No 280G Gross-Up Provisions | | | The compensation committee does not permit 280G gross-up provisions in the Company’s executive employment agreements and amendments. | |
| Anti-Hedging and Pledging Policy | | | We prohibit our directors, executive officers, and all employees from hedging or pledging the Company’s securities. | |
| Independent Compensation Consultant | | | The compensation committee retains and annually reviews the independence of its compensation consultant. | |
| Ashland Global Holdings Inc. | | | H.B. Fuller Company | | | | |
| Avient Corporation | | | Kraton Corporation | | | | |
| Cabot Corporation | | | Methanex Corporation | | | | |
| | | Minerals Technologies Inc. | | | | ||
| | | NewMarket Corporation | | | | ||
| | | Olin Corporation | | | |||
|
| Performance Goal | | Weight of Metric in ACI Plan (%) | | Threshold Target | | 100% Performance Target | | Exceeds Target | | Performance Goal | | Weight of Metric in ACI Plan (%) | | Threshold Target | | 100% Performance Target | | Exceeds Target | | ||||||||||||||||||||||||||||||||
| 1. Financial Performance | | | | | | | | | | | | | | | | | | | | | | 1. Financial Performance | | | | | | | | | | | | | | | | | | | | | | ||||||||
| 2021 Adjusted EBITDA Target (Per 2021 Business Plan) | | | | 60% | | | | $ | 202M | | | | $ | 238M | | | | $ | 298M | | | 2022 Adjusted EBITDA Target (Per 2022 Business Plan) | | | | 60% | | | | $ | 530M | | | | $ | 663M | | | | $ | 796M | | | ||||||||
| 2. Responsible Care® | | | | | | | | | | | | | | | | | | | | | | 2. Responsible Care® | | | | | | | | | | | | | | | | | | | | | | ||||||||
| Recordable Injuries* | | | | 5% | | | | | 7 | | | | | 5 | | | | | 3 | | | Recordable Injuries* | | | | 5% | | | | | 11 | | | | | 8 | | | | | 5 | | | ||||||||
| Loss of Primary Containment* | | | | 5% | | | | | 7 | | | | | 5 | | | | | 3 | | | Loss of Primary Containment* | | | | 5% | | | | | 8 | | | | | 8 | | | | | 5 | | | ||||||||
| Process Safety Incidents* | | | | 5% | | | | | 2 | | | | | 1 | | | | | 0 | | | Process Safety Incidents* | | | | 5% | | | | | 2 | | | | | 1 | | | | | 0 | | | ||||||||
| Responsible Care® Sub-total | | | | 15% | | | | | | | | | | | | | | | | | | Responsible Care® Sub-total | | | | 15% | | | | | | | | | | | | | | | | | | ||||||||
| 3. Individual Goals | | | | 25% | | | | | | | | | | | | | | | | | | 3. Individual Goals | | | | 25% | | | | | | | | | | | | | | | | | | ||||||||
| Total Opportunity at Target | | | | 100% | | | | | | | | | | | | | | | | | | Total Opportunity at Target | | | | 100% | | | | | | | | | | | | | | | | | | ||||||||
| Maximum Opportunity | | | | 200% | | | | | | | | | | | | | | | | | | Maximum Opportunity | | | | 200% | | | | | | | | | | | | | | | | | |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | Performance Target (100%) | | | | Actual Result | | | | Payout as % of Target | | Payout as % of Total Target Bonus | | | | Performance Target (100%) | | | | Actual Result | | | | Payout as % of Target | | Payout as % of Total Target Bonus | | ||||||||||||||||||||||||||||
| Financial Performance (Adjusted EBITDA) | | | $ | 238M | | | | | | $ | 497M | | | | | | | 200% | | | | | 120% | | | Financial Performance (Adjusted EBITDA) | | | $ | 663M | | | | | | $ | 279M | | | | | | | 0% | | | | | 0% | | |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | Performance Target (100%) | | | | Actual Result | | | | Payout as % of Target | | Payout as % of Total Target Bonus | | | | Performance Target (100%) | | | | Actual Result | | | | Payout as % of Target | | Payout as % of Total Target Bonus | | ||||||||||||||||||||||||||||
| Responsible Care® | | | | | | | | | | | | | | | | | | | | | | | | | | Responsible Care® | | | | | | | | | | | | | | | | | | | | | | | | | | ||||
| Recordable Injuries* | | | | 5 | | | | | | | 6 | | | | | | | 50% | | | | | 2.5% | | | Recordable Injuries* | | | | 8 | | | | | | | 8 | | | | | | | 100% | | | | | 5% | | | ||||
| Loss of Primary Containment* | | | | 5 | | | | | | | 5 | | | | | | | 100% | | | | | 5% | | | Loss of Primary Containment* | | | | 8 | | | | | | | 5 | | | | | | | 200% | | | | | 10% | | | ||||
| Process Safety Incidents* | | | | 1 | | | | | | | 0 | | | | | | | 200% | | | | | 10% | | | Process Safety Incidents* | | | | 2 | | | | | | | 0 | | | | | | | 200% | | | | | 10% | | | ||||
| Responsible Care® Total | | | | | | | | | | | | | | | | | | 116.67% | | | | | 17.5% | | | Responsible Care® Total | | | | | | | | | | | | | | | | | | 166.67% | | | | | 25.0% | | |
| | | | | | | | | | | ||||||||||||||||||
| NEO | | | EBITDA (60%) | | | Responsible Care (15%) | | | Individual Goals (25%) | | | | Actual Payout as a % of Target | | | ||||||||||||
| Frank A. Bozich | | | | | 0% | | | | | | 166.67% | | | | | | 90.5% | | | | | | | 47.6% | | | |
| David Stasse | | | | | 0% | | | | | | 166.67% | | | | | | 100% | | | | | | | 50% | | | |
| Angelo N. Chaclas | | | | | 0% | | | | | | 166.67% | | | | | | 100% | | | | | | | 50% | | | |
| Andre Lanning | | | | | 0% | | | | | | 166.67% | | | | | | 85% | | | | | | | 46.25% | | | |
| Paula Cooney | | | | | 0% | | | | | | 166.67% | | | | | | 100% | | | | | | | 50% | | | |
| | | | | | | | | | | | | | ||||||||||||||||||
| NEO | | | EBITDA (60%) | | | Responsible Care (15%) | | | Individual Goals (25%) | | | | Actual Payout as a % of Target | | | | ||||||||||||||
| Frank A. Bozich | | | | | 200% | | | | | | 116.67% | | | | | | 130% | | | | | | | 170.0% | | | | | ||
| David Stasse | | | | | 200% | | | | | | 116.67% | | | | | | 130% | | | | | | | 170.0% | | | | | ||
| Angelo N. Chaclas | | | | | 200% | | | | | | 116.67% | | | | | | 130% | | | | | | | 170.0% | | | | | ||
| Andre Lanning | | | | | 200% | | | | | | 116.67% | | | | | | 130% | | | | | | | 170.0% | | | | | ||
| Francesca Reverberi | | | | | 200% | | | | | | 116.67% | | | | | | 110% | | | | | | | 165.0% | | | | |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NEO | | Target Payout as % of Base Salary | | Target Payout Amount | | | | Actual Payout as a % of Target | | | | Actual Payout Amount | | | | NEO | | Target Payout as % of Base Salary | | Target Payout Amount | | | | Actual Payout as a % of Target | | | | Actual Payout Amount | | | ||||||||||||||||||||||||||||||
| Frank A. Bozich | | | | 130% | | | | $ | 1,332,500 | | | | | | | 170% | | | | | | $ | 2,265,251 | | | | | Frank A. Bozich | | | | 130% | | | | $ | 1,365,000 | | | | | | | 47.6% | | | | | | $ | 650,000 | | | | ||||||
| David Stasse | | | | 75% | | | | $ | 390,000 | | | | | | | 170% | | | | | | $ | 663,000 | | | | | David Stasse | | | | 75% | | | | $ | 412,500 | | | | | | | 50% | | | | | | $ | 206,250 | | | | ||||||
| Angelo N. Chaclas | | | | 75% | | | | $ | 345,000 | | | | | | | 170% | | | | | | $ | 586,500 | | | | | Angelo N. Chaclas | | | | 75% | | | | $ | 363,750 | | | | | | | 50% | | | | | | $ | 181,875 | | | | ||||||
| Andre Lanning (1) | | | | 50% | | | | $ | 250,768 | | | | | | | 170% | | | | | | $ | 389,464 | | | | | Andre Lanning (1) | | | | 58.4% (2) | | | | $ | 293,861 | | | | | | | 46.3% | | | | | | $ | 135,911 | | | | ||||||
| Francesca Reverberi (1) | | | | 50% | | | | $ | 239,183 | | | | | | | 165% | | | | | | $ | 360,545 | | | | | Paula Cooney | | | | 60% | | | | $ | 300,000 | | | | | | | 50% | | | | | | $ | 150,000 | | | |
| NEO | | | LTI Target % | | | LTI Target Amount | | ||||||
| Frank A. Bozich | | | | | 350% | | | | | $ | 3,587,500 | | |
| David Stasse | | | | | 175% | | | | | $ | 910,000 | | |
| Angelo N. Chaclas | | | | | 150% | | | | | $ | 690,000 | | |
| Andre Lanning (1) | | | | | 70% | | | | | $ | 351,075 | | |
| Francesca Reverberi (1) (2) | | | | | 90.5% | | | | | $ | 428,589 | | |
| NEO | | | LTI Target % | | | LTI Target Amount | | ||||||
| Frank A. Bozich | | | | | 380% | | | | | $ | 3,990,000 | | |
| David Stasse | | | | | 200% | | | | | $ | 1,100,000 | | |
| Angelo N. Chaclas | | | | | 150% | | | | | $ | 727,500 | | |
| Andre Lanning (1) | | | | | 140% | | | | | $ | 689,979 | | |
| Paula Cooney | | | | | 120% | | | | | $ | 600,000 | | |
| | | | % of Award Eligible for Vesting | | | TSE Performance | | Payout % | | | | | % of Award Eligible for Vesting | | | TSE Performance | | Payout % | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric | | Threshold | | Target | | Maximum | | Threshold | | Target | | Maximum | | Metric | | Threshold | | Target | | Maximum | | Threshold | | Target | | Maximum | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2021 – 2022 TSE TSR (relative to Performance Peer Group) | | | | 15% | | | | | 25th Percentile | | | | | 50th Percentile | | | | | 75th Percentile | | | | | 50% | | | | | 100% | | | | | 200% | | | 2022 – 2023 TSE TSR (relative to Performance Peer Group) | | | | 15% | | | | | 25th Percentile | | | | | 50th Percentile | | | | | 75th Percentile | | | | | 50% | | | | | 100% | | | | | 200% | | | ||||||||||||||
| 2022 – 2023 TSE TSR (relative to Performance Peer Group) | | | | 15% | | | | | 25th Percentile | | | | | 50th Percentile | | | | | 75th Percentile | | | | | 50% | | | | | 100% | | | | | 200% | | | 2023 – 2024 TSE TSR (relative to Performance Peer Group) | | | | 15% | | | | | 25th Percentile | | | | | 50th Percentile | | | | | 75th Percentile | | | | | 50% | | | | | 100% | | | | | 200% | | | ||||||||||||||
| 2023 – 2024 TSE TSR (relative to Performance Peer Group) | | | | 15% | | | | | 25th Percentile | | | | | 50th Percentile | | | | | 75th Percentile | | | | | 50% | | | | | 100% | | | | | 200% | | | 2024 – 2025 TSE TSR (relative to Performance Peer Group) | | | | 15% | | | | | 25th Percentile | | | | | 50th Percentile | | | | | 75th Percentile | | | | | 50% | | | | | 100% | | | | | 200% | | | ||||||||||||||
| 2021 – 2024 TSE TSR (relative to Performance Peer Group) | | | | 55% | | | | | 25th Percentile | | | | | 50th Percentile | | | | | 75th Percentile | | | | | 50% | | | | | 100% | | | | | 200% | | | 2022 – 2025 TSE TSR (relative to Performance Peer Group) | | | | 55% | | | | | 25th Percentile | | | | | 50th Percentile | | | | | 75th Percentile | | | | | 50% | | | | | 100% | | | | | 200% | | |
| Name and Principal Position | | Year | | Salary ($) (2) | | Bonus ($) (3) | | Stock Awards ($) (4) | | Option Awards ($)(5) | | Non-Equity Incentive Plan Compensation ($) (6) | | Changes in Pension Value and Non-qualified Deferred Compensation Earnings ($) (7) (8) | | All Other Compensation ($) (9) | | Total ($) | | Name and Principal Position | | Year | | Salary ($) (2) | | Bonus ($) (3) | | Stock Awards ($) (4) | | Option Awards ($)(5) | | Non-Equity Incentive Plan Compensation ($)(6) | | Changes in Pension Value and Non-qualified Deferred Compensation Earnings ($) (7) (8) | | All Other Compensation ($) (9) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Frank A. Bozich President and Chief Executive Officer | | | | | 2021 | | | | | 1,025,000 | | | | | — | | | | | 2,511,215 | | | | | 1,076,254 | | | | | 2,265,251 | | | | | 8 | | | | | 124,165 | | | | | 7,001,892 | | | Frank Bozich President and Chief Executive Officer | | | | | 2022 | | | | | 1,050,000 | | | | | — | | | | | 2,761,179 | | | | | 1,197,862 | | | | | 650,000 | | | | | 2,041 | | | | | 132,501 | | | | | 5,793,583 | | | ||||||||||||||||
| | | 2020 | | | | | 882,692 | | | | | — | | | | | 1,935,997 | | | | | 826,322 | | | | | 1,364,354 | | | | | — | | | | | 26,554 | | | | | 5,035,919 | | | | | | 2021 | | | | | 1,025,000 | | | | | — | | | | | 2,511,215 | | | | | 1,076,254 | | | | | 2,265,251 | | | | | 8 | | | | | 124,165 | | | | | 7,001,892 | | | |||||||||||||||||||||
| | | 2019 | | | | | 830,137 | | | | | 538,244 | | | | | 4,050,985 | | | | | 824,675 | | | | | 460,000 | | | | | — | | | | | 165,557 | | | | | 6,869,598 | | | | | | 2020 | | | | | 882,692 | | | | | — | | | | | 1,935,997 | | | | | 826,322 | | | | | 1,364,354 | | | | | — | | | | | 26,554 | | | | | 5,035,919 | | | |||||||||||||||||||||
| David Stasse Executive Vice President & Chief Financial Officer | | | | | 2021 | | | | | 520,000 | | | | | — | | | | | 636,978 | | | | | 272,994 | | | | | 663,000 | | | | | 13 | | | | | 54,502 | | | | | 2,147,487 | | | David Stasse Executive Vice President & Chief Financial Officer | | | | | 2022 | | | | | 550,000 | | | | | — | | | | | 761,223 | | | | | 330,226 | | | | | 206,250 | | | | | 1,700 | | | | | 61,342 | | | | | 1,910,742 | | | ||||||||||||||||
| | | 2020 | | | | | 472,596 | | | | | — | | | | | 528,002 | | | | | 225,363 | | | | | 355,110 | | | | | 326 | | | | | 51,784 | | | | | 1,330,174 | | | | | | 2021 | | | | | 520,000 | | | | | — | | | | | 636,978 | | | | | 272,994 | | | | | 663,000 | | | | | 13 | | | | | 54,502 | | | | | 2,147,487 | | | |||||||||||||||||||||
| | | 2019 | | | | | 427,748 | | | | | — | | | | | 207,447 | | | | | 88,775 | | | | | 106,667 | | | | | — | | | | | 51,751 | | | | | 882,390 | | | | | | 2020 | | | | | 472,596 | | | | | — | | | | | 528,002 | | | | | 225,363 | | | | | 355,110 | | | | | 326 | | | | | 51,784 | | | | | 1,330,174 | | | |||||||||||||||||||||
| Angelo N. Chaclas Senior Vice President and Chief Legal Officer | | | | | 2021 | | | | | 460,000 | | | | | — | | | | | 482,985 | | | | | 206,996 | | | | | 586,500 | | | | | 21,789 | | | | | 50,171 | | | | | 1,808,441 | | | Angelo N. Chaclas Senior Vice President and Chief Legal Officer | | | | | 2022 | | | | | 485,000 | | | | | — | | | | | 503,424 | | | | | 218,402 | | | | | 181,875 | | | | | 9,376 | | | | | 55,671 | | | | | 1,453,748 | | | ||||||||||||||||
| | | 2020 | | | | | 420,611 | | | | | — | | | | | 469,935 | | | | | 200,569 | | | | | 313,712 | | | | | 6,599 | | | | | 51,407 | | | | | 1,462,833 | | | | | | 2021 | | | | | 460,000 | | | | | — | | | | | 482,985 | | | | | 206,996 | | | | | 586,500 | | | | | 21,789 | | | | | 50,171 | | | | | 1,808,441 | | | |||||||||||||||||||||
| | | 2019 | | | | | 445,000 | | | | | — | | | | | 483,250 | | | | | 199,953 | | | | | 137,839 | | | | | — | | | | | 60,867 | | | | | 1,326,908 | | | | | | 2020 | | | | | 420,611 | | | | | — | | | | | 469,935 | | | | | 200,569 | | | | | 313,712 | | | | | 6,599 | | | | | 51,407 | | | | | 1,462,833 | | | |||||||||||||||||||||
| Andre Lanning (1) Senior Vice President and Chief Commercial Officer | | | | | 2021 | | | | | 458,192 | | | | | 273,650 | | | | | 252,605 | | | | | 108,240 | | | | | 426,307 | | | | | 108,365 | | | | | 14,230 | | | | | 1,641,589 | | | Andre Lanning (1) Senior Vice President and Chief Commercial Officer | | | | | 2022 | | | | | 478,384 | | | | | 157,290 | | | | | 488,873 | | | | | 212,089 | | | | | 135,911 | | | | | 124,783 | | | | | 8,651 | | | | | 1,605,980 | | | ||||||||||||||||
| | | 2020 | | | | | 441,788 | | | | | 267,750 | | | | | 92,510 | | | | | 39,705 | | | | | 130,822 | | | | | 420,903 | | | | | 5,355 | | | | | 1,398,832 | | | | | | 2021 | | | | | 458,192 | | | | | 273,650 | | | | | 252,605 | | | | | 108,240 | | | | | 426,307 | | | | | 108,365 | | | | | 14,230 | | | | | 1,641,589 | | | |||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2020 | | | | | 441,788 | | | | | 267,750 | | | | | 92,510 | | | | | 39,705 | | | | | 130,822 | | | | | 420,903 | | | | | 5,355 | | | | | 1,398,832 | | | |||||||||||||||||||||
| Francesca Reverberi (1) Senior Vice President and Chief Sustainability Officer | | | | 2021 | | | | | 437,023 | | | | | 116,301 | | | | | 288,509 | | | | | 152,208 | | | | | 394,653 | | | | | — | | | | | 5,254 | | | | | 1,393,948 | | | Paula Cooney Senior Vice President and Chief Human Resources Officer | | | | 2022 | | | | | 500,000 | | | | | — | | | | | 415,250 | | | | | 180,136 | | | | | 150,000 | | | | | — | | | | | 26,715 | | | | | 1,272,100 | | |
| NEO | | Maximum Grant Date Fair Value | | NEO | | Maximum Grant Date Fair Value | | ||||||||
| Frank A. Bozich | | | $ | 2,869,942 | | | Frank Bozich | | | $ | 3,128,321 | | | ||
| David Stasse | | | $ | 727,957 | | | David Stasse | | | $ | 862,394 | | | ||
| Angelo N. Chaclas | | | $ | 551,982 | | | Angelo N. Chaclas | | | $ | 570,332 | | | ||
| Andre Lanning | | | $ | 288,692 | | | Andre Lanning | | | $ | 553,895 | | | ||
| Francesca Reverberi | | | $ | 272,572 | | | Paula Cooney | | | $ | 470,449 | | |
| NEO | | 401k Plan ($) (i) | | Non-qualified deferred comp plan ($) (ii) | | Allowances ($) (iii) | | Other ($) (iv) | | Total ($) | | NEO | | 401k Plan ($) (i) | | Non-qualified deferred comp plan ($) (ii) | | Allowances ($) (iii) | | Other ($) (iv) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||
| Frank A. Bozich | | | | 23,265 | | | | | 100,750 | | | | | — | | | | | 150 | | | | | 124,165 | | | Frank Bozich | | | | 26,101 | | | | | 106,250 | | | | | — | | | | | 150 | | | | | 132,501 | | | ||||||||||
| David Stasse | | | | 26,102 | | | | | 28,250 | | | | | — | | | | | 150 | | | | | 54,502 | | | David Stasse | | | | 27,567 | | | | | 33,625 | | | | | — | | | | | 150 | | | | | 61,342 | | | ||||||||||
| Angelo N. Chaclas | | | | 26,446 | | | | | 23,575 | | | | | — | | | | | 150 | | | | | 50,171 | | | Angelo N. Chaclas | | | | 27,584 | | | | | 27,938 | | | | | — | | | | | 150 | | | | | 55,671 | | | ||||||||||
| Andre Lanning | | | | — | | | | | — | | | | | 14,230 | | | | | — | | | | | 14,230 | | | Andre Lanning | | | | — | | | | | — | | | | | 8,651 | | | | | — | | | | | 8,651 | | | ||||||||||
| Francesca Reverberi | | | | — | | | | | — | | | | | 5,254 | | | | | — | | | | | 5,254 | | | Paula Cooney | | | | 26,715 | | | | | — | | | | | — | | | | | 150 | | | | | 26,715 | | |
| | | | | | | | Estimated Future Payouts Under Non-Equity Plan Awards (1) | | Estimated Future Payouts Under Equity Plan Awards (2) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Estimated Future Payouts Under Non-Equity Plan Awards (1) | | Estimated Future Payouts Under Equity Plan Awards (2) | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | Grant Date | | Threshold ($) | | Target ($) | | Maximum ($) | | Threshold (#) | | Target (#) | | Maximum (#) | | All other stock awards: Number of shares of stock or units (#) (3) | | All other option awards: Number of securities underlying options (#) (4) | | Exercise or Base Price of Option Awards ($/sh) | | Closing Stock Price on Grant Date ($/sh) | | Grant Date Fair Value of Stock and Option Awards ($) | | Name | | Grant Date | | Threshold ($) | | Target ($) | | Maximum ($) | | Threshold (#) | | Target (#) | | Maximum (#) | | All other stock awards: Number of shares of stock or units (#) (3) | | All other option awards: Number of securities underlying options (#) (4) | | Exercise or Base Price of Option Awards ($/sh) | | Closing Stock Price on Grant Date ($/sh) | | Grant Date Fair Value of Stock and Option Awards ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Frank A. Bozich | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Frank Bozich | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||
| Options | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 46,753 | | | | | 61.06 | | | — | | Options | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 52,746 | | | | | 58.64 | | | | | — | | | 1,197,862 | | ||||||||||||||||||||||
| RSUs | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 17,626 | | | | | — | | | | | — | | | 61.06 | | RSUs | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 20,413 | | | | | — | | | | | — | | | | | 58.64 | | | 1,197,018 | | ||||||||||||||||||||||
| PSUs | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 11,751 | | | | | 23,501 | | | | | 47,002 | | | | | — | | | | | — | | | | | — | | | 61.06 | | PSUs | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | 13,609 | | | | | 27,217 | | | | | 54,434 | | | | | — | | | | | — | | | | | — | | | | | 58.64 | | | 1,564,161 | | ||||||||||||||||||||||
| ACI Plan | | | | 1/1/2021 | | | | | — | | | | | 1,332,500 | | | | | 2,665,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | — | | ACI | | | | 1/1/2022 | | | | | — | | | | | 1,365,000 | | | | | 2,730,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | — | | ||||||||||||||||||||||||
| David Stasse | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | David Stasse | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||
| Options | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 11,859 | | | | | 61.06 | | | — | | Options | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 14,541 | | | | | 58.64 | | | | | — | | | 330,226 | | ||||||||||||||||||||||
| RSUs | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 4,471 | | | | | — | | | | | — | | | 61.06 | | RSUs | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 5,628 | | | | | — | | | | | — | | | | | 58.64 | | | 330,026 | | ||||||||||||||||||||||
| PSUs | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 2,981 | | | | | 5,961 | | | | | 11,922 | | | | | 0 | | | | | — | | | | | — | | | 61.06 | | PSUs | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | 3,752 | | | | | 7,503 | | | | | 15,006 | | | | | — | | | | | — | | | | | — | | | | | 58.64 | | | 431,197 | | ||||||||||||||||||||||
| ACI Plan | | | | 1/1/2021 | | | | | — | | | | | 390,000 | | | | | 780,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | — | | ACI | | | | 1/1/2022 | | | | | — | | | | | 412,500 | | | | | 825,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | — | | ||||||||||||||||||||||||
| Angelo N. Chaclas | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Angelo N. Chaclas | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||
| Options | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 8,992 | | | | | 61.06 | | | — | | Options | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 9,617 | | | | | 58.64 | | | | | — | | | 218,402 | | ||||||||||||||||||||||
| RSUs | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 3,390 | | | | | — | | | | | — | | | 61.06 | | RSUs | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 3,722 | | | | | — | | | | | — | | | | | 58.64 | | | 218,258 | | ||||||||||||||||||||||
| PSUs | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 2,260 | | | | | 4,520 | | | | | 9,040 | | | | | — | | | | | — | | | | | — | | | 61.06 | | PSUs | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | 2,481 | | | | | 4,962 | | | | | 9,924 | | | | | — | | | | | — | | | | | — | | | | | 58.64 | | | 285,166 | | ||||||||||||||||||||||
| ACI Plan | | | | 1/1/2021 | | | | | — | | | | | 345,000 | | | | | 690,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | — | | ACI | | | | 1/1/2022 | | | | | — | | | | | 363,750 | | | | | 727,500 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | — | | ||||||||||||||||||||||||
| Andre Lanning | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Andre Lanning | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||
| Options | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 4,702 | | | | | 61.06 | | | — | | Options | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 9,339 | | | | | 58.64 | | | | | — | | | 212,089 | | ||||||||||||||||||||||
| RSUs | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 1,773 | | | | | — | | | | | — | | | 61.06 | | RSUs | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 3,614 | | | | | — | | | | | — | | | | | 58.64 | | | 211,925 | | ||||||||||||||||||||||
| PSUs | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 1,182 | | | | | 2,364 | | | | | 4,728 | | | | | — | | | | | — | | | | | — | | | 61.06 | | PSUs | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | 2,410 | | | | | 4,819 | | | | | 9,638 | | | | | — | | | | | — | | | | | — | | | | | 58.64 | | | 276,948 | | ||||||||||||||||||||||
| ACI Plan | | | | 1/1/2021 | | | | | — | | | | | 250,768 | | | | | 501,536 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | — | | ACI | | | | 1/1/2022 | | | | | — | | | | | 293,861 | | | | | 587,722 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | — | | ||||||||||||||||||||||||
| Francesca Reverberi | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Paula Cooney | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||
| Options | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 6,612 | | | | | 61.06 | | | — | | Options | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 7,932 | | | | | 58.64 | | | | | — | | | 180,136 | | ||||||||||||||||||||||
| RSUs | | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 2,493 | | | | | — | | | | | — | | | 61.06 | | RSUs | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 3,070 | | | | | — | | | | | — | | | | | 58.64 | | | 180,025 | | ||||||||||||||||||||||
| ACI Plan | | | | 2/17/2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 1,116 | | | | | 2,232 | | | | | 4,464 | | | | | — | | | | | — | | | | | — | | | 61.06 | | PSUs | | | | | 2/16/2022 | | | | | — | | | | | — | | | | | — | | | | | 2,047 | | | | | 4,093 | | | | | 8,186 | | | | | — | | | | | — | | | | | — | | | | | 58.64 | | | 235,225 | | |||||||||||||||||||||||
| ACI | | | | 1/1/2022 | | | | | — | | | | | 300,000 | | | | | 600,000 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | — | |
| Performance Period | | | % of Award Eligible for Vesting | | |||
| | | | | 15% | | | |
| | | | | 15% | | | |
| | | | | 15% | | | |
| | | | | 55% | | |
| Trinseo Percentile Ranking Relative to Peer Group | | | % of Target Shares Vested* | | |||
| Under 25th percentile | | | | | 0% | | |
| 25th percentile | | | | | 50% | | |
| 50th percentile | | | | | 100% | | |
| 75th percentile | | | | | 200% | | |
| | | | | | | | Option Awards | | Stock Awards | | | | | | | | | Option Awards | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | Grant Date | | Number of Securities Underlying Unexercised Options (#) Exercisable | | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Options (#) (1) Unexercisable | | Option Exercise Price ($) | | Option Expiration Date | | Number of shares or units of stock that have not vested (#) (2) | | Market value of shares or units of stock that have not vested ($) (3) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights that have Not Vested (#) (4) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights that have Not Vested ($) (3) | | Name | | Grant Date | | Number of Securities Underlying Unexercised Options (#) Exercisable | | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Options (#) (1) Unexercisable | | Option Exercise Price ($) | | Option Expiration Date | | Number of shares or units of stock that have not vested (#) (2) | | Market value of shares or units of stock that have not vested ($) (3) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights that have Not Vested (#) (4) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights that have Not Vested ($) (3) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Frank A. Bozich | | | | | 2/17/2021 | | | | | — | | | | | 46,753 | | | | | 61.06 | | | | | 2/17/2030 | | | | | 17,626 | | | | | 924,660 | | | | | 23,501 | | | | | 1,232,862 | | | Frank Bozich | | | | | 2/16/2022 | | | | | — | | | | | 52,746 | | | | | 58.64 | | | | | 2/16/2031 | | | | | 20,413 | | | | | 463,579 | | | | | 27,217 | | | | | 618,098 | | | ||||||||||||||||
| | | 2/25/2020 | | | | | 41,914 | | | | | 83,829 | | | | | 24.30 | | | | | 2/25/2029 | | | | | 33,951 | | | | | 1,781,069 | | | | | 45,267 | | | | | 2,374,707 | | | | | | 2/17/2021 | | | | | 15,584 | | | | | 31,169 | | | | | 61.06 | | | | | 2/17/2030 | | | | | 17,626 | | | | | 400,286 | | | | | 23,501 | | | | | 533,708 | | | |||||||||||||||||||||
| | | 3/4/2019 | | | | | 35,626 | | | | | 17,814 | | | | | 50.95 | | | | | 3/4/2028 | | | | | 35,819 | | | | | 1,879,065 | | | | | 41,217 | | | | | 2,162,244 | | | | | | 2/25/2020 | | | | | — | | | | | 41,915 | | | | | 24.30 | | | | | 2/25/2029 | | | | | 33,951 | | | | | 771,027 | | | | | 45,267 | | | | | 1,028,014 | | | |||||||||||||||||||||
| David Stasse | | | | | 2/17/2021 | | | | | — | | | | | 11,859 | | | | | 61.06 | | | | | 2/17/2030 | | | | | 4,471 | | | | | 234,549 | | | | | 5,961 | | | | | 312,714 | | | | | | 3/4/2019 | | | | | 53,440 | | | | | — | | | | | 50.95 | | | | | 3/4/2028 | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||||
| | | 2/25/2020 | | | | | — | | | | | 22,863 | | | | | 24.30 | | | | | 2/25/2029 | | | | | 9,259 | | | | | 485,727 | | | | | 12,346 | | | | | 647,671 | | | David Stasse | | | | | 2/16/2022 | | | | | — | | | | | 14,541 | | | | | 58.64 | | | | | 2/16/2031 | | | | | 5,628 | | | | | 127,812 | | | | | 7,503 | | | | | 170,393 | | | |||||||||||||||||||
| | | 2/26/2019 | | | | | 1,923 | | | | | 1,924 | | | | | 51.02 | | | | | 2/26/2028 | | | | | 4,066 | | | | | 213,302 | | | | | — | | | | | — | | | | | | 2/17/2021 | | | | | 3,953 | | | | | 7,906 | | | | | 61.06 | | | | | 2/17/2030 | | | | | 4,471 | | | | | 101,536 | | | | | 5,961 | | | | | 135,374 | | | |||||||||||||||||||||
| | | 2/22/2018 | | | | | 3,847 | | | | | — | | | | | 81.20 | | | | | 2/22/2027 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2/25/2020 | | | | | 11,431 | | | | | 11,432 | | | | | 24.30 | | | | | 2/25/2029 | | | | | 9,259 | | | | | 210,272 | | | | | 12,346 | | | | | 280,378 | | | |||||||||||||||||||||
| | | 2/16/2017 | | | | | 2,530 | | | | | — | | | | | 71.45 | | | | | 2/16/2026 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2/26/2019 | | | | | 3,847 | | | | | — | | | | | 51.02 | | | | | 2/26/2028 | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||
| Angelo N. Chaclas | | | | | 2/17/2021 | | | | | — | | | | | 8,992 | | | | | 61.06 | | | | | 2/17/2030 | | | | | 3,390 | | | | | 177,839 | | | | | 4,520 | | | | | 237,119 | | | | | | 2/22/2018 | | | | | 3,847 | | | | | — | | | | | 81.20 | | | | | 2/22/2027 | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||||
| | | 2/25/2020 | | | | | 10,173 | | | | | 20,348 | | | | | 24.30 | | | | | 2/25/2029 | | | | | 8,241 | | | | | 432,323 | | | | | 10,988 | | | | | 576,430 | | | | | | 2/16/2017 | | | | | 2,530 | | | | | — | | | | | 71.45 | | | | | 2/16/2026 | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||
| | | 3/4/2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 5,240 | | | | | 274,890 | | | Angelo Chaclas | | | | | 2/16/2022 | | | | | — | | | | | 9,617 | | | | | 58.64 | | | | | 2/16/2031 | | | | | 3,722 | | | | | 84,527 | | | | | 4,962 | | | | | 112,687 | | | |||||||||||||||||||
| | | 2/26/2019 | | | | | 8,664 | | | | | 4,332 | | | | | 51.02 | | | | | 2/26/2028 | | | | | 3,925 | | | | | 205,906 | | | | | — | | | | | — | | | | | | 2/17/2021 | | | | | 2,997 | | | | | 5,995 | | | | | 61.06 | | | | | 2/17/2030 | | | | | 3,390 | | | | | 76,987 | | | | | 4,520 | | | | | 102,649 | | | |||||||||||||||||||||
| | | 2/22/2018 | | | | | 8,182 | | | | | — | | | | | 81.20 | | | | | 2/22/2027 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2/25/2020 | | | | | 20,347 | | | | | 10,174 | | | | | 24.30 | | | | | 2/25/2029 | | | | | 8,241 | | | | | 187,153 | | | | | 10,988 | | | | | 249,537 | | | |||||||||||||||||||||
| | | 2/16/2017 | | | | | 8,253 | | | | | — | | | | | 71.45 | | | | | 2/16/2026 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2/26/2019 | | | | | 12,996 | | | | | — | | | | | 51.02 | | | | | 2/26/2028 | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||
| Andre Lanning | | | | | 2/17/2021 | | | | | — | | | | | 4,702 | | | | | 61.06 | | | | | 2/17/2030 | | | | | 1,773 | | | | | 93,012 | | | | | 2,364 | | | | | 124,015 | | | | | | 2/22/2018 | | | | | 8,182 | | | | | — | | | | | 81.20 | | | | | 2/22/2027 | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||||||
| | | 2/25/2020 | | | | | 2,014 | | | | | 4,028 | | | | | 24.30 | | | | | 2/25/2029 | | | | | 3,807 | | | | | 199,715 | | | | | — | | | | | — | | | | | | 2/16/2017 | | | | | 8,253 | | | | | — | | | | | 71.45 | | | | | 2/16/2026 | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||
| Francesca Reverberi | | | | | 2/17/2021 | | | | | — | | | | | 6,612 | | | | | 61.06 | | | | | 2/17/2030 | | | | | 2,493 | | | | | 130,783 | | | | | 2,232 | | | | | 117,091 | | | Andre Lanning | | | | | 2/16/2022 | | | | | — | | | | | 9,339 | | | | | 58.64 | | | | | 2/16/2031 | | | | | 3,614 | | | | | 82,074 | | | | | 4,819 | | | | | 109,439 | | | ||||||||||||||||
| | | 2/25/2020 | | | | | 2,669 | | | | | 5,338 | | | | | 24.30 | | | | | 2/25/2029 | | | | | 5,044 | | | | | 264,608 | | | | | — | | | | | — | | | | | | 2/17/2021 | | | | | 1,567 | | | | | 3,135 | | | | | 61.06 | | | | | 2/17/2030 | | | | | 1,773 | | | | | 40,265 | | | | | 2,364 | | | | | 53,686 | | | |||||||||||||||||||||
| | | 2/26/2019 | | | | | 1,709 | | | | | 855 | | | | | 51.02 | | | | | 2/26/2028 | | | | | 1,807 | | | | | 94,795 | | | | | — | | | | | — | | | | | | 2/25/2020 | | | | | 4,028 | | | | | 2,014 | | | | | 24.30 | | | | | 2/25/2029 | | | | | 3,807 | | | | | 86,457 | | | | | — | | | | | — | | | |||||||||||||||||||||
| | | 2/22/2018 | | | | | 1,845 | | | | | — | | | | | 81.20 | | | | | 2/22/2027 | | | | | — | | | | | — | | | | | — | | | | | — | | | Paula Cooney | | | | | 2/16/2022 | | | | | — | | | | | 7,932 | | | | | 58.64 | | | | | 2/16/2031 | | | | | 3,070 | | | | | 69,720 | | | | | 4,093 | | | | | 92,952 | | | |||||||||||||||||||
| | | 2/16/2017 | | | | | 1,668 | | | | | — | | | | | 71.45 | | | | | 2/16/2026 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 11/29/2021 | | | | | — | | | | | — | | | | | 24.30 | | | | | 2/25/2029 | | | | | 4,039 | | | | | 91,726 | | | | | — | | | | | — | | | |||||||||||||||||||||
| | | 2/22/2016 | | | | | 1,173 | | | | | — | | | | | 26.97 | | | | | 2/22/2025 | | | | | — | | | | | — | | | | | — | | | | | — | | |
| | | Option Awards | | Share Awards | | | | Option Awards | | Share Awards | | ||||||||||||||||||||||||||||||||||||||||
| Name | | Number of Options Exercised (#) | | Value Realized on Exercise ($) | | Number of Shares Acquired on Vesting (#) | | Value Realized on Vesting ($) | | Name | | Number of Options Exercised (#) | | Value Realized on Exercise ($) | | Number of Shares Acquired on Vesting (#) | | Value Realized on Vesting ($) | | ||||||||||||||||||||||||||||||||
| Frank A. Bozich | | | | — | | | | | — | | | | | — | | | | | — | | | Frank A. Bozich | | | | 83,828 | | | | | 2,156,405 | | | | | 71,678 | | | | | 3,263,072 | | | ||||||||
| David Stasse | | | | 16,546 | | | | | 620,303 | | | | | 5,136 | | | | | 286,323 | | | David Stasse | | | | — | | | | | — | | | | | 4,066 | | | | | 218,832 | | | ||||||||
| Angelo N. Chaclas | | | | 15,884 | | | | | 677,203 | | | | | 2,250 | | | | | 145,350 | | | Angelo N. Chaclas | | | | — | | | | | — | | | | | 8,484 | | | | | 410,973 | | | ||||||||
| Andre Lanning | | | | — | | | | | — | | | | | — | | | | | — | | | Andre Lanning | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||
| Francesca Reverberi | | | | — | | | | | — | | | | | 1,184 | | | | | 76,486 | | | Paula Cooney | | | | — | | | | | — | | | | | 2,019 | | | | | 49,082 | | |
| Name | | Executive Contributions in 2021 ($) (1) | | Company Contributions in 2021 ($) (2) | | Aggregate Earnings in 2021 ($) (3) | | Aggregate Withdrawals/ Distributions in 2021 ($) | | Aggregate Balance as of December 31, 2021 ($) (4) | | Name | | Executive Contributions in 2022 ($) (1) | | Company Contributions in 2022 ($) (2) | | Aggregate Earnings in 2022 ($) (3) | | Aggregate Withdrawals/ Distributions in 2022 ($) | | Aggregate Balance as of December 31, 2022 ($) (4) | | ||||||||||||||||||||||||||||||||||||||||
| Frank Bozich | | | | — | | | | | 100,750 | | | | | 8 | | | | | — | | | | | 100,758 | | | Frank Bozich | | | | — | | | | | 106,250 | | | | | 2,041 | | | | | — | | | | | 209,049 | | | ||||||||||
| David Stasse | | | | — | | | | | 28,250 | | | | | 13 | | | | | — | | | | | 136,673 | | | David Stasse | | | | — | | | | | 33,625 | | | | | 1,700 | | | | | — | | | | | 173,998 | | | ||||||||||
| Angelo N. Chaclas | | | | — | | | | | 23,575 | | | | | 21,789 | | | | | — | | | | | 231,420 | | | Angelo N. Chaclas | | | | — | | | | | 27,938 | | | | | 9,376 | | | | | — | | | | | 222,577 | | | ||||||||||
| Paula Cooney | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | |
| Name | | Employee saving contributions in % of pensionable salary | | Employer saving contributions in % of pensionable salary | | Name | | Employee saving contributions in % of pensionable salary | | Employer saving contributions in % of pensionable salary | | ||||||||||||||||
| Andre Lanning | | | | 10.00% | | | | | 10.00% | | | Andre Lanning | | | | 10.00% | | | | | 10.00% | | | ||||
| Francesca Reverberi | | | | 8.00% | | | | | 12.00% | | |
| Name | | Plan Name | | Number of Years of Credited Service (#) | | Present Value of Accumulated Benefit ($) (1) (2) (3) | | Payments During 2021 ($) | | Name | | Plan Name | | Number of Years of Credited Service (#) | | Present Value of Accumulated Benefit ($) (1) (2) (3) | | Payments During 2022 ($) | | ||||||||||||||||||||||||||
| Andre Lanning | | Switzerland Retirement Plan | | | | 2.5 | | | | | 402,813 | | | | | — | | | Andre Lanning | | Switzerland Retirement Plan | | | | 2.5 | | | | | 510,668 | | | | | — | | | ||||||||
| Francesca Reverberi | | Switzerland Retirement Plan | | | | 34.5 | | | | | 2,380,755 | | | | | — | | |
| | | Discount rate | | Salary increase | | | | Discount rate | | Salary increase | | ||||||||||||||||
| Switzerland Retirement Plan | | | | 0.23% | | | | | 2.0% | | | Switzerland Retirement Plan | | | | 2.16% | | | | | 2.25% | | |
| Name | | Termination Trigger | | Cash Separation Payment ($) (1) | | Health and Welfare Benefits ($) (2) | | Value of Previously Unvested Equity Awards ($) (3) | | Value of Insurance Benefit ($) (4) | | 2021 Target Cash Compensation ($) (5) | | Cash Separation Payment Multiple | | Name | | Termination Trigger | | Cash Separation Payment ($) (1) | | Health and Welfare Benefits ($) (2) | | Value of Previously Unvested Equity Awards ($) (3) | | Value of Insurance Benefit ($) (4) | | 2022 Target Cash Compensation ($) (5) | | Cash Separation Payment Multiple | | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Frank A. Bozich | | | Termination for Cause | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Frank Bozich | | | Termination for Cause | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||
| Termination Without Cause | | | | 4,715,000 | | | | | 20,959 | | | | | 5,660,009 | | | | | — | | | | $ | 2,357,500 | | | | | 2 | | | | Termination Without Cause | | | | 4,830,000 | | | | | 15,968 | | | | | 1,223,462 | | | | | — | | | | | 2,415,000 | | | | | 2 | | | |||||||||||||||||
| Death | | | | — | | | | | — | | | | | 11,179,291 | | | | | 500,000 | | | | | — | | | | | — | | | | Death | | | | — | | | | | — | | | | | 3,419,974 | | | | | 500,000 | | | | | — | | | | | — | | | |||||||||||||||||
| Disability | | | | — | | | | | 20,959 | | | | | 11,179,291 | | | | | 250,000 | | | | | — | | | | | — | | | | Disability | | | | — | | | | | 15,968 | | | | | 3,419,974 | | | | | 250,000 | | | | | — | | | | | — | | | |||||||||||||||||
| Change in Control | | | | 4,715,000 | | | | | 20,959 | | | | | 13,160,137 | | | | | — | | | | | 2,357,500 | | | | | 2 | | | | Change in Control | | | | 7,245,000 | | | | | 15,968 | | | | | 4,173,643 | | | | | — | | | | | 2,415,000 | | | | | 3 | | | |||||||||||||||||
| David Stasse | | | Termination for Cause | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | David Stasse | | | Termination for Cause | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||
| Termination Without Cause | | | $ | 1,365,000 | | | | | 21,190 | | | | | 1,233,488 | | | | | — | | | | | 910,000 | | | | | 1.5 | | | | Termination Without Cause | | | | 1,443,750 | | | | | 20,636 | | | | | 329,037 | | | | | — | | | | | 962,500 | | | | | 1.5 | | | |||||||||||||||||
| Death | | | | — | | | | | — | | | | | 2,109,012 | | | | | 500,000 | | | | | — | | | | | — | | | | Death | | | | — | | | | | — | | | | | 919,760 | | | | | 500,000 | | | | | — | | | | | — | | | |||||||||||||||||
| Disability | | | | — | | | | | 21,190 | | | | | 2,109,012 | | | | | 250,000 | | | | | — | | | | | — | | | | Disability | | | | — | | | | | 20,636 | | | | | 919,760 | | | | | 250,000 | | | | | — | | | | | — | | | |||||||||||||||||
| Change in Control | | | | 1,365,000 | | | | | 21,190 | | | | | 2,597,250 | | | | | — | | | | | 910,000 | | | | | 1.5 | | | | Change in Control | | | | 1,925,000 | | | | | 20,636 | | | | | 1,122,411 | | | | | — | | | | | 962,500 | | | | | 2 | | | |||||||||||||||||
| Angelo N. Chaclas | | | Termination for Cause | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Angelo Chaclas | | | Termination for Cause | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||
| Termination Without Cause | | | | 1,207,500 | | | | | 13,327 | | | | | 1,109,072 | | | | | — | | | | | 805,000 | | | | | 1.5 | | | | Termination Without Cause | | | | 1,273,125 | | | | | 16,227 | | | | | 275,582 | | | | | — | | | | | 848,750 | | | | | 1.5 | | | |||||||||||||||||
| Death | | | | — | | | | | — | | | | | 2,131,422 | | | | | 500,000 | | | | | — | | | | | — | | | | Death | | | | — | | | | | — | | | | | 750,698 | | | | | 500,000 | | | | | — | | | | | — | | | |||||||||||||||||
| Disability | | | | — | | | | | 13,327 | | | | | 2,131,422 | | | | | 250,000 | | | | | — | | | | | — | | | | Disability | | | | — | | | | | 16,227 | | | | | 750,698 | | | | | 250,000 | | | | | — | | | | | — | | | |||||||||||||||||
| Change in Control | | | | 1,207,500 | | | | | 13,327 | | | | | 2,552,180 | | | | | — | | | | | 805,000 | | | | | 1.5 | | | | Change in Control | | | | 1,697,500 | | | | | 16,227 | | | | | 894,255 | | | | | — | | | | | 848,750 | | | | | 2 | | | |||||||||||||||||
| Andre Lanning | | | Termination for Cause | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Andre Lanning | | | Termination for Cause | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||
| Termination Without Cause | | | | 1,128,457 | | | | | — | | | | | 265,644 | | | | | — | | | | | 752,305 | | | | | 1.5 | | | | Termination Without Cause | | | | 1,195,783 | | | | | — | | | | | 142,859 | | | | | — | | | | | 797,189 | | | | | 1.5 | | | |||||||||||||||||
| Death | | | | — | | | | | — | | | | | 448,471 | | | | | — | | | | | — | | | | | — | | | | Death | | | | — | | | | | — | | | | | 293,995 | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||
| Disability | | | | — | | | | | — | | | | | 448,471 | | | | | — | | | | | — | | | | | — | | | | Disability | | | | — | | | | | — | | | | | 293,995 | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||
| Change in Control | | | | 1,128,457 | | | | | — | | | | | 538,857 | | | | | — | | | | | 752,305 | | | | | 1.5 | | | | Change in Control | | | | 1,594,378 | | | | | — | | | | | 398,872 | | | | | — | | | | | 797,189 | | | | | 2 | | | |||||||||||||||||
| Francesca Reverberi | | | Termination for Cause | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Paula Cooney | | | Termination for Cause | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||
| Termination Without Cause | | | | 1,076,322 | | | | | — | | | | | 450,603 | | | | | — | | | | | 717,548 | | | | | 1.5 | | | | Termination Without Cause | | | | 1,200,000 | | | | | 15,968 | | | | | 55,175 | | | | | — | | | | | 800,000 | | | | | 1.5 | | | |||||||||||||||||
| Death | | | | — | | | | | — | | | | | 690,704 | | | | | — | | | | | — | | | | | — | | | | Death | | | | — | | | | | — | | | | | 196,474 | | | | | 500,000 | | | | | — | | | | | — | | | |||||||||||||||||
| Disability | | | | — | | | | | — | | | | | 690,704 | | | | | — | | | | | — | | | | | — | | | | Disability | | | | — | | | | | 15,968 | | | | | 196,474 | | | | | 250,000 | | | | | — | | | | | — | | | |||||||||||||||||
| Change in Control | | | | 1,076,322 | | | | | — | | | | | 776,043 | | | | | — | | | | | 717,548 | | | | | 1.5 | | | | Change in Control | | | | 1,600,000 | | | | | 15,968 | | | | | 266,444 | | | | | — | | | | | 800,000 | | | | | 2 | | |
| Year | | | Summary Compensation Table Total for Principal Executive Officer (PEO) ($) (1) | | | Compensation Actually Paid to PEO ($) (3) | | | Average Summary Compensation Table Total for Non-PEO Named Executive Officers ($) (2) | | | Average Compensation Actually Paid to Non-PEO Named Executive Officers ($) (3) | | | Value of Initial Fixed $100 Investment Based On: | | | Net (loss) income ($ in millions) | | | Adjusted EBITDA (non-GAAP) ($ in millions) (5) | | |||||||||||||||||||||||||||
| Total Shareholder Return | | | Peer Group Total Shareholder Return (4) | | |||||||||||||||||||||||||||||||||||||||||||||
| 2022 | | | | | 5,793,583 | | | | | | (1,961,363) | | | | | | 1,561,047 | | | | | | 305,441 | | | | | $ | 44 | | | | | $ | 100 | | | | | | (428.0) | | | | | | 312.0 | | |
| 2021 | | | | | 7,001,892 | | | | | | 6,409,637 | | | | | | 1,747,866 | | | | | | 1,868,496 | | | | | $ | 103 | | | | | $ | 113 | | | | | | 92.0 | | | | | | 729.4 | | |
| 2020 | | | | | 5,035,919 | | | | | | 11,989,919 | | | | | | 1,524,437 | | | | | | 1,670,250 | | | | | $ | 138 | | | | | $ | 120 | | | | | | 7.9 | | | | | | 285.1 | | |
| PEO (a) | | | 2022 | | | 2021 | | | 2020 | | |||||||||
| Summary Compensation Table – Total Compensation | | | | $ | 5,793,583 | | | | | $ | 7,001,892 | | | | | $ | 5,035,919 | | |
| Subtract fair value of stock awards and options awards granted in fiscal year | | | | $ | (3,959,041) | | | | | $ | (3,587,469) | | | | | $ | (2,762,319) | | |
| Add fair value of current-year equity awards outstanding and unvested as of year-end | | | | $ | 1,141,272 | | | | | $ | 2,944,350 | | | | | $ | 7,738,325 | | |
| Add fair value of current-year equity awards that vested during the fiscal year | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | |
| Add/subtract change in fair value of prior-year equity awards | | | | $ | (5,226,633) | | | | | $ | (635,819) | | | | | $ | 2,061,466 | | |
| Add/subtract change in fair value as of vesting date of prior-year equity awards vested during fiscal year | | | | $ | 473,289 | | | | | $ | 686,682 | | | | | $ | (83,472) | | |
| Subtract fair value of prior-year awards forfeited during fiscal year | | | | $ | (183,833) | | | | | $ | 0 | | | | | $ | 0 | | |
| Compensation Actually Paid | | | | $ | (1,961,363) | | | | | $ | 6,409,637 | | | | | $ | 11,989,919 | | |
| Average Non-PEO Named Executive Officers (a) | | | 2022 | | | 2021 | | | 2020 | | |||||||||
| Summary Compensation Table – Average Total Compensation | | | | | 1,561,047 | | | | | | 1,747,866 | | | | | | 1,524,437 | | |
| Subtract fair value of stock awards and options awards granted in fiscal year | | | | $ | (777,406) | | | | | $ | (600,379) | | | | | $ | (554,922) | | |
| Add fair value of current-year equity awards outstanding and unvested as of year-end | | | | $ | 224,104 | | | | | $ | 492,497 | | | | | $ | 1,111,350 | | |
| Add fair value of current-year equity awards that vested during the fiscal year | | | | $ | 0 | | | | | $ | 0 | | | | | $ | 0 | | |
| Add/subtract change in fair value of prior-year equity awards | | | | $ | (754,874) | | | | | $ | 13,556 | | | | | $ | 164,755 | | |
| Add/subtract change in fair value as of vesting date of prior-year equity awards vested during fiscal year | | | | $ | 25,904 | | | | | $ | 123,014 | | | | | $ | (22,736) | | |
| Subtract fair value of prior-year awards forfeited during fiscal year | | | | $ | (5,841) | | | | | $ | (24,085) | | | | | $ | 0 | | |
| Subtract change in present value of accumulated benefit under all defined benefit and actuarial pension plans | | | | $ | (124,783) | | | | | $ | (44,879) | | | | | $ | (924,273) | | |
| Add pension value attributable to current year and change in pension value attributable to plan amendments made in the current year | | | | $ | 157,290 | | | | | $ | 160,906 | | | | | $ | 371,637 | | |
| Compensation Actually Paid | | | | $ | 305,441 | | | | | $ | 1,868,496 | | | | | $ | 1,670,250 | | |
| | Adjusted EBITDA* | | |
| | Free Cash Flow* | | |
| | Capital Expenditures | | |
| | Total Shareholder Return | | |
| | | | December 31, | | | | | |||||||||||||||
| (In millions, except per share data) | | | 2022 | | | 2021 | | | 2020 | | | | | |||||||||
| Net income (loss) | | | | $ | (430.9) | | | | | $ | 440.0 | | | | | $ | 7.9 | | | | | |
| Net income (loss) from discontinued operations | | | | | (2.9) | | | | | | 160.4 | | | | | | — | | | | | |
| Net income (loss) from continuing operations | | | | $ | (428.0) | | | | | $ | 279.6 | | | | | $ | — | | | | | |
| Interest expense, net | | | | | 112.9 | | | | | | 79.4 | | | | | | 43.6 | | | | | |
| Provision for (benefit from) income taxes | | | | | (41.6) | | | | | | 70.9 | | | | | | 37.8 | | | | | |
| Depreciation and amortization | | | | | 236.9 | | | | | | 167.5 | | | | | | 134.3 | | | | | |
| EBITDA | | | | $ | (119.8) | | | | | $ | 597.4 | | | | | $ | 223.6 | | | | | |
| Net gain on disposition of businesses and assets | | | | | (1.8) | | | | | | (0.6) | | | | | | (0.4) | | | | Selling, general, and administrative expenses; Other expense, net | |
| Restructuring and other charges (a) | | | | | 15.9 | | | | | | 9.0 | | | | | | 9.9 | | | | Selling, general, and administrative expenses | |
| Acquisition transaction and integration net costs (b) | | | | | 6.6 | | | | | | 75.3 | | | | | | 9.1 | | | | Cost of goods sold; Selling, general, and administrative expenses | |
| Acquisition purchase price hedge (gain) loss (c) | | | | | — | | | | | | 22.0 | | | | | | (7.3) | | | | Acquisition purchase price hedge (gain) loss; Other expense (income), net | |
| Asset impairment charges or write-offs (d) | | | | | 6.3 | | | | | | 6.8 | | | | | | 39.1 | | | | Impairment and other charges | |
| European Commission request for information (e) | | | | | 36.2 | | | | | | — | | | | | | — | | | | Impairment and other charges | |
| Goodwill impairment charge (f) | | | | | 297.1 | | | | | | — | | | | | | — | | | | Impairment and other charges | |
| Other items (g) | | | | | 71.2 | | | | | | 19.5 | | | | | | 25.5 | | | | Selling, general, and administrative expenses; Other expense, net | |
| Adjusted EBITDA | | | | $ | 311.7 | | | | | $ | 729.4 | | | | | $ | 299.5 | | | | | |
| | | | Year Ended December 31, | | |||||||||||||||
| (In millions) | | | 2022 | | | 2021 | | | 2020 | | |||||||||
| Cash provided by operating activities | | | | $ | 43.5 | | | | | $ | 452.7 | | | | | $ | 255.4 | | |
| Capital expenditures | | | | | (149.0) | | | | | | (123.5) | | | | | | (82.3) | | |
| Free Cash Flow | | | | $ | (105.5) | | | | | $ | 329.2 | | | | | $ | 173.1 | | |
| Compensation Element | | CEO ($) | | Median Employee ($) | | Compensation Element | | CEO ($) | | Median Employee ($) | | ||||||||||||||||
| Annual Salary | | | | 1,025,000 | | | | | 61,370 | | | Annual Salary | | | | 1,050,000 | | | | | 59,542 | | | ||||
| Bonus | | | | — | | | | | 2,250 | | | Bonus | | | | 1,373 | | | | | | | | ||||
| Fair Value of Stock Awards | | | | 2,511,215 | | | | | — | | | Fair Value of Stock Awards | | | | 2,761,179 | | | | | | | | ||||
| Fair Value of Option Awards | | | | 1,076,254 | | | | | — | | | Fair Value of Option Awards | | | | 1,197,862 | | | | | | | | ||||
| Non-equity Incentive Plan Compensation | | | | 2,265,251 | | | | | 5,999 | | | Non-equity Incentive Plan Compensation | | | | 650,000 | | | | | 1,779 | | | ||||
| Change in Pension Value | | | | 8 | | | | | — | | | Change in Pension Value | | | | 2,041 | | | | | | | | ||||
| All Other Compensation | | | | 124,165 | | | | | 5,766 | | | All Other Compensation | | | | 132,501 | | | | | 5,537 | | | ||||
| Summary Compensation Table Totals | | | | 7,001,892 | | | | | 75,385 | | | Summary Compensation Table Totals | | | | 5,793,583 | | | | | 68,232 | | | ||||
| 2021 CEO Pay Ratio | | | | 93:1 | | | | | | | | 2022 CEO Pay Ratio | | 85:1 | |
| | | Fees Earned or Paid in Cash ($) (1) | | Stock Awards ($) (2) (3) | | All Other Compensation ($) (4) | | Total ($) | | | | Fees Earned or Paid in Cash ($) (1) | | Stock Awards ($) (2) (3) | | All Other Compensation ($) (4) | | Total ($) | | ||||||||||||||||||||||||||||||||
| Joseph Alvarado | | | $ | 90,625 | | | | $ | 130,000 | | | | | | | | | $ | 220,625 | | | Joseph Alvarado | | | | 117,500 | | | | | 130,000 | | | | | 5,495 | | | | | 252,995 | | | ||||||||
| Victoria Brifo | | | $ | 45,000 | | | | $ | 130,000 | | | | | | | | | $ | 175,000 | | | Victoria Brifo | | | | 90,000 | | | | | 130,000 | | | | | 5,495 | | | | | 225,495 | | | ||||||||
| Jeffrey J. Cote | | | $ | 90,000 | | | | $ | 130,000 | | | | | | | | | $ | 220,000 | | | Jeffrey J. Cote | | | | 90,000 | | | | | 130,000 | | | | | 5,495 | | | | | 225,495 | | | ||||||||
| Pierre-Marie De Leener | | | $ | 90,000 | | | | $ | 130,000 | | | | | | | | | $ | 220,000 | | | Pierre-Marie De Leener | | | | 90,000 | | | | | 130,000 | | | | | 5,495 | | | | | 225,495 | | | ||||||||
| Jeanmarie Desmond | | | $ | 90,000 | | | | $ | 130,000 | | | | | | | | | $ | 220,000 | | | Jeanmarie Desmond | | | | 90,000 | | | | | 130,000 | | | | | 5,495 | | | | | 225,495 | | | ||||||||
| Matthew Farrell | | | $ | 90,000 | | | | $ | 130,000 | | | | | | | | | $ | 220,000 | | | Matthew Farrell | | | | 90,000 | | | | | 130,000 | | | | | 5,495 | | | | | 225,495 | | | ||||||||
| K’Lynne Johnson | | | $ | 213,029 | | | | $ | 130,000 | | | | | | | | | $ | 343,029 | | | K’Lynne Johnson | | | | 220,000 | | | | | 130,000 | | | | | 5,495 | | | | | 355,495 | | | ||||||||
| Sandra Beach Lin | | | $ | 90,000 | | | | $ | 130,000 | | | | | | | | | $ | 220,000 | | | Sandra Beach Lin | | | | 105,000 | | | | | 130,000 | | | | | 5,495 | | | | | 240,495 | | | ||||||||
| Philip R. Martens | | | $ | 100,000 | | | | $ | 130,000 | | | | | | | | | $ | 230,000 | | | Philip R. Martens | | | | 105,000 | | | | | 130,000 | | | | | 5,495 | | | | | 240,495 | | | ||||||||
| Donald T. Misheff | | | $ | 90,000 | | | | $ | 130,000 | | | | | | | | | $ | 220,000 | | | Donald T. Misheff | | | | 90,000 | | | | | 130,000 | | | | | 5,495 | | | | | 225,495 | | | ||||||||
| Henri Steinmetz | | | $ | 90,000 | | | | $ | 130,000 | | | | $ | 11,475 | | | | $ | 231,475 | | | Henri Steinmetz | | | | 90,000 | | | | | 130,000 | | | | | 5,495 | | | | | 225,495 | | | ||||||||
| Mark Tomkins | | | $ | 115,000 | | | | $ | 130,000 | | | | | | | | | $ | 245,000 | | | Mark Tomkins | | | | 115,000 | | | | | 130,000 | | | | | | | | | | 245,000 | | |
| | | 2021 | | 2020 | | | | 2022 | | 2021 | | ||||||||||||||||
| Audit fees (1) | | | $ | 8,145,000 | | | | $ | 5,289,000 | | | Audit fees (1) | | | $ | 7,260,000 | | | | $ | 8,145,000 | | | ||||
| Audit-related fees (2) | | | $ | 913,000 | | | | $ | 4,990,000 | | | Audit-related fees (2) | | | $ | 7,143,000 | | | | $ | 913,000 | | | ||||
| Tax fees (3) | | | $ | 48,000 | | | | $ | 203,000 | | | Tax fees (3) | | | $ | 191,000 | | | | $ | 48,000 | | | ||||
| All other fees (4) | | | $ | 5,000 | | | | $ | 5,000 | | | All other fees (4) | | | $ | 10,000 | | | | $ | 5,000 | | | ||||
| Total fees | | | $ | 9,111,000 | | | | $ | 10,487,000 | | | Total fees | | | $ | 14,604,000 | | | | $ | 9,111,000 | | |
| | THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “FOR” THE APPOINTMENT OF PWC AS ITS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM, AND ON A BINDING BASIS, THE AUTHORIZATION OF THE BOARD’S AUDIT COMMITTEE TO FIX THE AUDITORS’ REMUNERATION. | | |
| | THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “FOR” THE BOARD AUTHORITY TO ISSUE SHARES. | | |
| | THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “FOR” THE BOARD AUTHORITY TO OPT OUT OF PREEMPTION RIGHTS. | | |
| | THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “FOR” THE PRICE RANGE FOR ISSUING TREASURY SHARES. | | |
| ||||||||
Options Outstanding | | | | | | | ||
| Weighted Average Exercise Price of Outstanding Options | | | | | | | |
| Weighted Average Remaining Term of Options Outstanding (years) | | | | | | | |
| Full-Value Awards Outstanding/Unvested (1) | | | | | | | |
| Ordinary Shares | | | | | | |
| Overhang (2) | | | | | 10.0% | | |
| Shares Available for Future Issuance | | | | | 642,392 | | |
| Shares Requested in Proposed Amendment for Future Awards | | | | | 1,825,000 | | |
| Diluted Overhang (3) | | | | | 15.2% | | |
| | | | 2020 | | | 2021 | | | 2022 | | | 3-Year Average | | ||||||||||||
| Shares Granted | | | | | 988,604 | | | | | | 570,488 | | | | | | 470,842 | | | | | | 676,645 | | |
| Average Total Common Shares Outstanding | | | | | 38,347,112 | | | | | | 38,707,800 | | | | | | 35,941,034 | | | | | | 37,665,315 | | |
| Diluted Burn Rate | | | | | 2.5% | | | | | | 1.5% | | | | | | 1.3% | | | | | | 1.8% | | |
| Name and Position | | | Number of Shares (1) | | |||
| Frank Bozich, President and Chief Executive Officer | | | | | | | |
| David Stasse, Executive Vice President and Chief Financial Officer | | | | | | | |
| Angelo N. Chaclas, Senior Vice President, CLO, CCO and Corporate Secretary | | | | | | | |
| Andre Lanning, Senior Vice President and Chief Commercial Officer | | | | | | |
| Name and Position | | | Number of Shares (1) | | |||
| | | | | | | ||
| All current executive officers (as a group) | | | | | | | |
| All current non-executive directors (as a group) | | | | | | | |
| All employees and officers who are not executive officers (as a group) | | | | | | |
| | THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “FOR” THE AMENDMENT | | |