Core Laboratories Inc. / "Benefits" | Tables in SEC filings

Core Laboratories Inc.

18 Mar 24

Definitive proxy

6:07pm

The tables below reflect the amount of compensation that would be payable to each of Messrs. Bruno, Hill, Ms. Gresham and Mr. Tattoli in various scenarios involving termination of the NEO’s employment, including following a change in control. The amount of compensation payable to each applicable NEO upon voluntary termination, involuntary not-for-cause termination (non-change in control), voluntary termination for good cause or involuntary termination following a change in control, involuntary for cause termination, and termination in the event of death or disability of each applicable NEO is shown below. The amounts shown assume that the termination was effective on December 31, 2023, and thus includes amounts earned through that time and are estimates of the amounts which would be paid out to the applicable NEOs upon their termination. The amounts payable upon termination following a change in control assume that the change in control occurred on December 31, 2023, and the termination was effective the same day. The actual amounts to be paid out can only be determined at the time of the applicable NEO’s separation from us. Each NEO would also have available the value of unvested shares reflected in the Outstanding Equity Awards at Fiscal Year End table, if any. The value of accelerated equity award amounts reflected below have been calculated using the closing price of our common stock on December 29, 2023 (the last trading day of 2023) of $17.66.

Lawrence Bruno	Voluntary Termination on 12/31/2023 (1) ($)		Involuntary Not For Cause Termination on 12/31/2023 (1) ($)		For Cause Termination on 12/31/2023 ($)		Termination related to Change-in- Control on 12/31/2023 ($)		Disability on 12/31/2023 (1) ($)		Death on 12/31/2023 (1) ($)
Compensation:
Severance		—		1,773,824		—		5,321,472		—		—
Short-term Incentive		—		886,912		—		886,912		—		—
Long-term Incentives:
Accelerated Equity Award Programs		—		8,169,640		—		8,169,640		8,169,640		8,169,640
Benefits & Perquisites:
Health and Welfare Benefits		382,700		382,700		—		382,700		—		—
Outplacement Services		—		25,000		—		25,000		—		—
Accelerated Deferred Comp		—		—		—		—		—		—
Total		382,700		11,238,076		—		14,785,724		8,169,640		8,169,640

	For the Years Ended
	December 31,
	2024		2023
Projected Benefit Obligation:
Projected benefit obligation at beginning of year	$	43,985	$	40,059
Interest cost		1,403		1,480
Benefits paid and administrative expenses		(1,587)		(1,505)
Actuarial (gain) loss, net		(1,114)		2,905
Unrealized (gain) loss on foreign exchange		(2,018)		1,046
Projected benefit obligation at end of year	$	40,669	$	43,985

Fair Value of Plan Assets:
Fair value of plan assets at beginning of year	$	41,713	$	37,376
Increase (decrease) in plan asset value		12		3,137
Employer contributions		742		1,719
Benefits paid and administrative expenses		(1,587)		(1,505)
Unrealized gain (loss) on foreign exchange		(1,931)		986
Fair value of plan assets at end of year	$	38,949	$	41,713

Under-funded status of the plan at end of the year	$	(1,720)	$	(2,272)

Accumulated Benefit Obligation	$	40,669	$	41,727

	For the Years Ended December 31,
	2024		2023		2022
Unrecognized tax benefits at January 1,	$	3,483	$	3,509	$	4,327
Tax positions, current period		138		144		230
Tax positions, prior period		(165)		68		(867)
Settlements with taxing authorities		—		—		(19)
Lapse of applicable statute of limitations		(184)		(238)		(162)
Unrecognized tax benefits at December 31,	$	3,272	$	3,483	$	3,509

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