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| | ☐ | | | | Preliminary Proxy Statement | | |
| | ☐ | | | | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) | | |
| | ☒ | | | | Definitive Proxy Statement | | |
| | ☐ | | | | Definitive Additional Materials | | |
| | ☐ | | | | Soliciting Material under §240.14a-12 | | |
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| | | 1007 Market Street Wilmington, Delaware 19801 | |
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| | | Mark E. Newman | | |
| Chair of the Board | | | President & Chief Executive Officer | |
| Notice of 2023 Annual Meeting of Shareholders | | | 1007 Market Street Wilmington, Delaware 19801 | |
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| Time and Date: | | | | Place: | | | | Record date: | |
| April 26, 2023, 10:00 a.m. ET | | | | Virtual Only — No Physical Meeting Location | | | | March 1, 2023 | |
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| To elect nine director nominees named in the accompanying Proxy Statement to serve one-year terms expiring at the Annual Meeting of Shareholders in 2024; | | | To hold a non-binding advisory vote to approve the compensation of our named executive officers; | | | To ratify the selection of PricewaterhouseCoopers LLP as our independent registered public accounting firm for fiscal year 2023; and | | | To transact such other business that may properly come before the Annual Meeting or any adjournments or postponements. | |
| IMPORTANT NOTICE REGARDING AVAILABILITY OF PROXY MATERIALS FOR THE VIRTUAL ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON APRIL 26, 2023: The Notice of Internet Availability of Proxy Materials, Notice of Annual Meeting of Shareholders, Proxy Statement and Annual Report are available at www.allianceproxy.com/chemours/2023 | |
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| PROPOSAL 1 — ELECTION OF DIRECTORS | | | | | | | |
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| BOARD STRUCTURE AND COMMITTEE COMPOSITION | | | | | | | |
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| Compensation and Leadership Development Committee | | | | | | | |
| Nominating and Corporate Governance Committee | | | | | | | |
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| Time and Date | | | | | ||||||
| 10:00 a.m. (Eastern Time) on Wednesday, April | | | Virtual Meeting Only — No Physical Location | |
| MANAGEMENT PROPOSALS | | | BOARD VOTE RECOMMENDATION | | | SEE PAGE | | |||
| Proposal 1 — Election of Directors | | | FOR EACH NOMINEE | | | | | 3 | | |
| Proposal 2 — Advisory Vote on Executive Compensation | | | FOR | | | | | 71 | | |
| Proposal 3 — Ratification of Independent Registered Public Accounting Firm | | | FOR | | | | | 72 | | |
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| INTERNET | | | | | | | | | | | | | | | TELEPHONE | | | | | | | | DURING THE MEETING | | | ||
| Visit www.AALVote.com/CC. Have your proxy card available when you access the above website. Follow the prompts to vote your shares by Internet until 11:59 p.m., Eastern Time, on April 25, 2023. | | | | | | | | Mark, sign, and date your proxy card, then detach it, and return it in the postage-paid envelope provided. | | | | | | | | Use any touch-tone telephone to vote your proxy. Call 1 866-804-9616. Have your proxy card available when you call. Follow the voting instructions to vote your shares. | | | | | | | | If you wish to vote your shares electronically during the virtual Annual Meeting, you will need to click on www.AALvote.com/CC during the Annual Meeting while the polls are open. You will need the control number on your Notice, or the proxy card mailed to you, as applicable | | |
| | | 2023 Proxy Statement | | | 1 | |
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2023 Proxy Statement | | | 2 | |
| Proposal | |
| | | 2023 Proxy Statement | | | 3 | |
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| | | 2023 Proxy Statement | | | 4 | |
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| | | | | CURTIS V. ANASTASIO | | | | MARY B. CRANSTON | | | | CURTIS J. CRAWFORD | | | | DAWN L. FARRELL | | | | ERIN N. KANE | | | | SEAN D. KEOHANE | | | | MARK E. NEWMAN | | | | GUILLAUME PEPY | | | | SANDRA PHILLIPS ROGERS | |
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| Leadership (Strategy and Execution) | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | |||||||||||||||||||||||
| Chemical Industry Experience | | | ■ | | | ■ | | | | | | | | | | ■ | | | ■ | | | ■ | | | | | | | | ■ | | ||||||||||||||||||||
| Financial Expertise | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | |||||||||||||||||||||||
| Global Business Strategy and Management | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | |||||||||||||||||||||||
| Global Business Operations | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | |||||||||||||||||||||||
| Corporate Governance | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | |||||||||||||||||||||||
| Other Board Experience | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | |||||||||||||||||||||||
| Technological Innovation | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | | | | | | | | ||||||||||||||||||
| Compensation & Succession | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | |||||||||||||||||||||||
| Risk Management | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | | ■ | | |||||||||||||||||||||||
| Environmental, Health, Safety and Sustainability | | | ■ | | | | ■ | | | | | | | ■ | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | |||||||||||||||||
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| Marketing | | | ■ | | | | | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | | | | | | | | | | | |||||||||||||||
| Business Development | | | ■ | | | | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | | | ||||||||||||||||
| Mergers & Acquisitions | | | ■ | | | ■ | | | ■ | | | | | | | | | | | | | | ■ | | | | ■ | | | | ■ | | |||||||||||||||||||
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| Information Technology | | | | | | | | | | | | | | | | | | | | | | | | | | ■ | | | | | | | | | | ||||||||||||||||
| Logistics & Supply Chain | | | | | | | | | | | | | | | | | ■ | | | | ■ | | | | ■ | | | | ■ | | | | | | |||||||||||||||||
| Legal Expertise | | | ■ | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||
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| African American or Black | | | | | | | | | | | | ■ | | | | | | | | | | | | | | | | ■ | | | | | | | | ■ | | ||||||||||||||
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| White or Caucasian | | | | ■ | | | | ■ | | | | | | | | ■ | | | | ■ | | | | ■ | | | | | | | | ■ | | | | | |
| | | 2023 Proxy Statement | | | 6 | |
| CURTIS V. ANASTASIO | | | | |
| Director Since: 2015 Committee Memberships: Audit (Chair), Nominating & Corporate Governance Term of Office Expires: 2023 Age: 66 | | | ■ President, Chief Executive Officer and Executive Director of NuStar GP Holdings, LLC (2006 to 2013) ■ President, Chief Executive Officer and Executive Director of NuStar Energy, L.P. (2001 to 2013) ■ Chairman, GasLog Partners LP (2014 to present) ■ Par Pacific Holdings, Inc. (2014 to present) Reason for Nomination:Mr. Anastasio has | |
MARY B. CRANSTON | | | | | |
| Director Since: 2015 Committee Memberships: Compensation and Leadership Development, Nominating & Corporate Governance (Chair) Term of Office Expires: 2023 Age: 75 | | | ||
■ Senior Partner and Chair Emeritus, Pillsbury Winthrop Shaw Pittman (2007 to 2011); Chair and Chief Executive Officer (1999 to 2006) ■ TPG, Inc. (2022 to present) ■ Visa, Inc. (2007 to 2022) ■ McAfee, Inc. (2018 to ■ MyoKardia, Inc. (2016 to 2020) Reason for Nomination:Ms. Cranston | | ||||
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| | | 2023 Proxy Statement | | | 7 | |
| CURTIS J. CRAWFORD | | | | |
| Director Since: 2015 Committee Memberships: Audit Term of Office Expires: 2023 Age: 75 | | | ■ President and Chief Executive Officer, XCEO, Inc. (2003 to present) ■ President and Chief Executive Officer, Onix Microsystems (2002 to 2003) and Zilog Inc. (1998 to 2001) ■ Xylem, Inc. (2011 to 2020) ■ ON Semiconductor (1999 to 2020) RECOGNITIONS 2019 Outstanding Director Award, Financial Times ■ Author of three books on leadership and corporate governance ■ B. Kenneth West Lifetime Achievement Award, National Association of Corporate Directors (NACD) | |
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| DAWN L. FARRELL | | | | |
| Director Since: 2015 Committee Memberships: Chair of the Board Term of Office Expires: 2023 Age: 63 | | | President and ■ President and Chief Executive Officer, TransAlta Corporation (2012 to ■ Chief Operating Officer ■ Executive Vice President of Generation, BC Hydro (2003 to 2006) ■ ■ Mount Royal University, Chancellor (2020 to present) Canada Natural Resources, Ltd. (2021 to 2022) Reason for Nomination: Mrs. Farrell has held chief executive officer and board member | |
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| | | 2023 Proxy Statement | | | 8 | |
| ERIN N. KANE | | | | |
| Director Since: 2019 Committee Memberships: Audit, Compensation and Leadership Development Term of Office Expires: 2023 Age: 46 | | | ■ President and Chief Executive Officer, AdvanSix ■ Vice President and General Manager, Resins and ■ Six Sigma and Process Engineering, Elementis Specialties and Kvaerner Process (prior to ■ American Chemistry Council (2017 to present) ■ American Institute of Chemical Engineers (2019 to 2021) Reason for Nomination:Ms. Kane led the spin-off of AdvanSix Inc. into an independent, NYSE-listed public | |
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| SEAN D. KEOHANE | | | | |
| Director Since: 2018 Committee Memberships: Compensation and Leadership Development (Chair), Nominating and Corporate Governance Term of Office Expires: Age: | | | BUSINESS EXPERIENCE: ■ President and ■ EVP, President, Reinforcement Materials, Cabot Corporation (2014 to 2016); SVP, President, Performance Chemicals (2012 to 2014); Vice President and General Manager, Performance Chemicals (2008 to 2012); Vice President (2005 to 2008); joined Cabot Corporation (2002) ■ General Management positions, Pratt & Whitney, a division of United Technologies (prior to ■ American Chemistry Council (2016 to Reason for Nomination;Mr. Keohane has a deep understanding of the international chemicals | |
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| | | 2023 Proxy Statement | | | 9 | |
| MARK E. NEWMAN | | | | |
| Director Since: 2021 Committee Memberships: President & CEO Term of Office Expires: 2023 Age: 59 | | | ■ President and Chief Executive Officer, The Chemours Company (2021 to present); SVP and Chief Operating Officer (2019 to 2021); SVP and Chief Financial Officer (2015 to 2019) ■ SVP and Chief Financial Officer, Performance Chemicals, DuPont (2014 to 2015) ■ SVP and Chief Financial Officer, SunCoke Energy Inc. (2011 to 2014) ■ VP and Managing Director, SmartAuction, Ally Financial Inc. (2008 to 2011) ■ VP and Chief Financial Officer, North America — Vice Chairman GMAC Bank, General Motors Corporation, GMAC Financial Services LLC (2007 to 2008); VP and Chief Financial Officer, GM North America (2006); Assistant Treasurer and General Director (2002 to 2005) ■ VP and Chief Financial Officer, Shanghai General Motors (1999 to 2002) ■ Treasurer’s Office and Government Relations various positions, General Motors Corporation (prior to 1999) OTHER BOARDS AND POSITIONS ■ American Chemistry Council (2021 — present) ■ Mr. | |
| GUILLAUME PEPY | | | | |
| Director Since: 2022 Committee Memberships: Audit, Compensation and Leadership Development Term of Office Expires: 2023 Age: 64 | | | BUSINESS EXPERIENCE: ■ Chairman and Chief Executive Officer, Societe Nationale SNCF SA (2008 to 2019), Chief Operating Officer (2003-2008), Deputy Chief Executive Officer (1998 to 2003), Head of Mainland Services (TGV) (1997 to 1998) ■ Deputy Chief Executive Office, B2B Markets, Taylor Nelson Sofres SA (1996 to 1997) ■ Chief Strategy Officer and Investment Director, SNCF (1993 to 1995) ■ Chief of Staff to Minister of Labour, French Government (1991 to 1993), Chief of Staff to Minister of Labour (1990 to 1991) ■ Chief of Staff, SNCF (1989 to 1990) ■ Advisor to Minister of Budget, French Government (1988 to 1989) ■ Deputy General Secretary, Council of State (1984 to 1988) OTHER BOARDS AND POSITIONS ■ Chairman to Orpea Group (2022 to present) ■ Salesforce, Inc., EMEA Advisory Board (2020 to present) ■ LYDEC (Suez Morocco), Chairman (2021 to 2022) Reason for Nomination:Mr. | |
| | | 2023 Proxy Statement | | | 10 | |
| SANDRA PHILLIPS ROGERS | | | | |
Director Since: 2021 Committee Memberships: Audit, Nominating and Corporate Governance Term of Office Expires: 2023 Age: 57 | | | BUSINESS EXPERIENCE: ■ Senior Vice President, Chief Legal Officer, General Counsel, Corporate Secretary and Chief Diversity Officer, Toyota Motor North America Inc. (2022 to present); automotive manufacturing, sales, research and development, mobility (autonomous, connected, electrification); oversight responsibility for Social Innovation, Sustainability and Regulatory Affairs, Compliance and Audit and Corporate Shared Services Toyota Motor North America Inc. and Toyota de Mexico (Corporate Resources). Group Vice President, Chief Legal Officer, General Counsel, Corporate Secretary and Chief Diversity Officer, Toyota Motor North America Inc. (2019 to 2022). Group Vice President, Chief Legal Officer, General Counsel and Corporate Secretary, Toyota Motor North America Inc. (2015 to 2019) ■ Partner, Complex Litigation Management and Strategy, Morgan, Lewis & Bockius LLP (2008 to 2012) ■ Vice President, Assistant General Counsel and Chief Litigation Counsel, Pfizer (2008); Senior Vice President and Associate General Counsel (2006 to 2008); Vice President and Assistant General Counsel (2005 to 2006); Assistant General Counsel (2004 to 2005) OTHER BOARDS AND POSITIONS ■ MSA Safety Inc (2017 to present) Reason for Nomination: Ms. Rogers provides the Board strong expertise in the legal, human capital, regulatory, and operational aspects of managing a large manufacturing Company. Her diversity and inclusion experience will guide the Board as it continues its efforts to support a total mix of viewpoints and experiences. | |
| THE BOARD RECOMMENDS THAT YOU VOTE “FOR” THE ELECTION OF EACH OF THE NINE DIRECTOR NOMINEES | |
| | | 2023 Proxy Statement | | | 11 | |
| | | 2023 Proxy Statement | | | 12 | |
| Our Pillars | | | | Our 2030 CRC Goals | |
| INSPIRED PEOPLE | | | | EMPOWERED EMPLOYEES ■ Fill 50% of director level positions globally and above with women ■ Fill 35% of all positions globally with women ■ Fill 30% of all US positions with ethnically diverse employees SAFETY EXCELLENCE ■ Improve employee, contractor, process, and distribution safety performance by at least 75% VIBRANT COMMUNITIES ■ Invest $50M in our communities to improve lives by increasing access to STEM skills, safety initiatives, and sustainable environment programs | |
| SHARED PLANET | | | | CLIMATE ■ Reduce absolute GHG emissions from operations by 60% ■ Journey to net-zero operations by 2050 WATER ■ Reduce air and water process emissions of fluorinated organic chemicals by 99% or more WASTE ■ Reduce our landfill volume intensity by 70% | |
| EVOLVED PORTFOLIO | | | | SUSTAINABLE OFFERINGS ■ Ensure that 50% or more of our revenue comes from offerings that make a specific contribution to the UN SDGs SUSTAINABLE SUPPLY CHAIN ■ Establish a baseline for the sustainability performance of 80% of suppliers by spend and demonstrate 15% improvement | |
| | | 2023 Proxy Statement | | | 13 | |
| PEOPLE | |
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| | | 2023 Proxy Statement | | | 14 | |
| PLANET | |
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| | | 2023 Proxy Statement | | | 15 | |
| PORTFOLIO | |
| EXTERNAL RECOGNITIONS | |
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| | | 2023 Proxy Statement | | | 16 | |
| | | Audit Committee | | | Compensation and Leadership Development Committee | | | Nominating and Corporate Governance Committee | |
Curtis V. Anastasio | | | X | | | | | | X | |
Bradley J. Bell | | | C | | | X | | | | |
Mary B. Cranston | | | X | | | | | | C | |
Dr. Curtis J. Crawford | | | X | | | C | | | | |
Dawn L. Farrell | | | | | | X | | | X | |
Erin N. Kane | | | X | | | X | | | | |
Sean D. Keohane | | | | | | X | | | X | |
2020 Meetings | | | 4 | | | 9 | | | 4 | |
X = Member | | | C = CHAIR | |
| FULL BOARD OF DIRECTORS | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Corporate Responsibility Strategy, Standards, Goals, Performance | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Audit Committee Enterprise Risk Management, Cybersecurity Risk | | | Compensation and Leadership Development Committee Recruitment, Development | | | Nominating and Policies, Processes, Performance Metrics, ESG
Corporate Responsibility is embedded in our business processes, guides how we manage and operate our manufacturing sites, and inspires the new products and offerings we bring to market. Our growth strategy is directly linked to Corporate Responsibility. Proposed corporate transactions and overall corporate strategy are reviewed by the full Board with input from management on ESG risks and opportunities. Our Board and its Committees receive regular updates from senior management on Corporate Responsibility matters, including environmental, health and safety (EHS), social issues, regulatory actions and product stewardship. Under the oversight of our Board, senior management continues to execute on our Corporate Responsibility. With the Board’s guidance, we have developed and are advancing progress on goals for climate change, water stewardship, waste management, diversity and inclusion, safety, product sustainability and sustainable sourcing. See update on Page 13.
BOARD LEADERSHIP STRUCTURE Mrs. Dawn L. Farrell serves as the Chair of the Board, a position she has held since January 1, 2022, after serving as the Company’s Lead Independent Director from July 1, 2021 to December 31, 2021. The Company’s governing documents allow the roles of Chair and Chief Executive Officer (CEO) to be filled by the same or different individuals. This approach allows the Board flexibility to determine whether the two roles should be separated or combined based on our needs and the Board’s assessment of the Company’s leadership from time to time. If the Board does not have an independent chairperson, the Board will appoint a Lead Independent Director and determine the Lead Independent Director’s duties and responsibilities. The Board will periodically consider the advantages of having an independent Chair or a combined Chair and CEO and is open to different structures as circumstances may warrant. At this time, the Board has determined that separating the roles of Chair and CEO serves our best interests and that of our shareholders. Our CEO and senior management, working with the Board, set the strategic direction for the organization, and the CEO provides day-to-day leadership. The independent Chair leads the Board in the performance of its duties and serves as the principal liaison between the independent directors and the CEO. DIRECTOR INDEPENDENCE The NCG Committee is responsible for reviewing the qualifications and independence of members of the Board and its various committees on a periodic basis, as well as the composition of the Board as a whole. This assessment includes members’ qualifications as independent, as well as consideration of skills and experience specific to the needs of the Board.
Corporate Governance(continued) Director nominees are recommended to the Board by the Committee in accordance with the policies and principles in its Charter. The ultimate responsibility for selection of director nominees resides with the Board. The qualifications that the Board considers when nominating directors is discussed in more detail under “Director Qualification Process” in this Proxy Statement. Independent Directors The Board assesses the independence of directors and examines the nature and extent of any relations between the Company and directors, their families and their affiliates. The Corporate Governance Guidelines provide that a director is “independent” if he or she satisfies the New York Stock Exchange (NYSE) Listing Standards on director independence and the Board affirmatively determines that the director has no material relationship with the Company (either directly, or as a partner, shareholder or officer of an organization that has a relationship with the Company). The Board has determined that, with the exception of Mark E. Newman, each of the current directors — Curtis V. Anastasio, Mary B. Cranston, Curtis J. Crawford, Dawn L. Farrell, Erin N. Kane, Sean D. Keohane, Guillaume Pepy, and Sandra Phillips Rogers — is independent. Independent Committees All members serving on the Audit Committee, the Compensation and Leadership Development Committee and the NCG Committee must be independent as defined by the Corporate Governance Guidelines. In addition, Audit Committee members must meet heightened independence criteria under NYSE Listing Standards and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) relating to audit committees. Each Compensation and Leadership Development Committee member must meet heightened independence criteria under NYSE Listing Standards and the rules and regulations of the SEC relating to compensation committees and be a “non-employee director” pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Board has determined that each member of the Audit Committee, the Compensation and Leadership Development Committee, and the NCG Committee meets the requisite independence and related requirements. OVERSIGHT OF RISK MANAGEMENT The Board of Directors is responsible for oversight of risk management, and its leadership structure, and the Chemours Executive Team (“CET”) is accountable for risk management, which is integrated into our annual strategic planning and business and functional managing processes. Risk management is embedded into our line organizations and part of regular, managing processes. There is an established risk assessment cadence, methodology, and systemic approach to risk management throughout the year within the Company with regular and robust risk reporting to management. The Audit Committee oversees the risk management process, while the full Board oversees the top risks and mitigation actions of the Company. In fulfilling its risk oversight responsibility, the Board receives various management and Board Committee reports and meets with the full CET twice per year to discuss risk management. It also engages in periodic discussions with the Company’s officers, as it may deem appropriate. In addition, each of the Board Committees considers the risks within its areas of responsibility. For example, the Audit Committee focuses on risks inherent in the Company’s accounting, financial reporting and internal controls and reviews the Company’s cybersecurity and information security programs. The Compensation and Leadership Development Committee considers the risks that may be implicated by the Company’s incentive compensation program. The Compensation and Leadership Development Committee’s assessment of risk related to compensation practices is discussed in more detail in the “Compensation Discussion and Analysis” section of this Proxy Statement. The NCG Committee provides oversight regarding the Company’s policies on political contributions and lobbying expenses. The NCG Committee is also responsible for reviewing transactions between the Company and related persons, which is discussed in more detail under “Certain Relationships and Transactions” in this Proxy Statement.
Corporate Governance(continued) SUCCESSION PLANNING The Board plans for succession to the position of CEO. The Compensation and Leadership Development Committee, on behalf of the Board, oversees the succession planning process. To assist the Board, the CEO periodically provides the Board with an assessment of senior executives and their potential to succeed to the position of CEO, as well as perspective on potential candidates from outside the organization. The Board makes available, on a continuing basis, the CEO’s succession recommendation(s) should he or she be unexpectedly unable to serve. The CEO also provides the Board with an assessment of potential successors to key positions. DIRECTOR EDUCATION New directors participate in an orientation process to become familiar with the Company and its strategic plans and businesses, significant financial matters, core values including ethics, compliance programs, corporate governance practices and other key policies and practices through a review of background materials, meetings with senior executives and visits to Company facilities. The NCG Committee is responsible for providing guidance on directors’ continuing education, and actively monitors and encourages director education opportunities. CODE OF CONDUCT The Company is committed to high standards of ethical conduct and professionalism, and the Company’s Code of Conduct confirms the commitment to ethical behavior in the conduct of all activities. In furtherance of this commitment, the Company has adopted a Code of Conduct, a Code of Business Conduct and Ethics for the Board of Directors, and a Code of Ethics for the CEO, CFO and Controller. ■ The Code of Conduct applies to all directors, officers (including the CEO, CFO and Controller) and employees of Chemours, and it sets forth the Company’s policies and expectations on a number of topics including avoiding conflicts of interest, confidentiality, insider trading, protection of Chemours and customer property, and providing a proper and professional work environment. The Code of Conduct sets forth a worldwide toll-free and Internet-based ethics hotline, which employees can use to communicate any ethics-related concerns, and the Company provides training on ethics and compliance topics for employees. ■ The Code of Business Conduct and Ethics for the Board of Directors applies to all directors, and is intended to (i) foster the highest ethical standards and integrity; (ii) focus the Board and each director on areas of potential ethical risk and conflicts of interest; (iii) guide directors in recognizing and dealing with ethical issues; establish reporting mechanisms; and promote a culture of honesty and accountability. ■ The Code of Ethics for the CEO, CFO and Controller applies to those three executive officers. This Code sets forth the standards of conduct that the CEO, CFO and Controller must uphold while performing his or her duties. ■ Each year, the Company trains 100% of its employees on the Code of Conduct. ■ In order to continuously improve and evolve its compliance program, the Company engages in regular risk assessments and conducts root cause analyses of any confirmed instances of ethical misconduct. In fiscal year 2022, there were no waivers of any provisions of (i) the Code of Conduct; (ii) the Code of Business Conduct and Ethics for the Board of Directors; or (iii) the Code of Ethics for the CEO, CFO and Controller. In the event the Company amends or waives any provision of any Code of Conduct or Code of Ethics that relates to any element of the definition of “code of ethics” enumerated in Item 406(b) of Regulation S-K promulgated under the Exchange Act, the Company intends to disclose these actions on the Company website at www.chemours.com.
Corporate Governance(continued) SHAREHOLDER ENGAGEMENT We maintain a very active and broad-based investor relations outreach program to solicit input and to communicate with shareholders on a variety of topics related to our business and strategy. We also speak to shareholders about governance matters, including our corporate governance profile and our corporate responsibility commitments. Throughout the year, our investor relations team and some of our executive officers and other key employees speak with shareholders at investor conferences, at in-person meetings and in phone conversations. We will continue to engage with shareholders on business, strategy, governance and other relevant topics. POLICY ON HEDGING TRANSACTIONS We have adopted a policy that prohibits all officers and directors and all employees that receive or have access to material nonpublic information about the Company from engaging in transactions in publicly traded options, puts, calls or other derivative securities and from entering into hedges or swaps involving the Company’s securities. Officers and Directors are also prohibited from pledging Chemours securities as collateral for a loan without special exception. BOARD STRUCTURE AND COMMITTEE COMPOSITION The Board has nine Directors now and three standing Committees: The Audit Committee, the Compensation and Leadership Development Committee, and the NCG Committee. The table below reflects the composition of each Committee as of March 1, 2023, and the number of meetings held by each Committee during fiscal year 2022. Dawn L. Farrell as Chair of the Board, and Mark E Newman, as President and Chief Executive Officer, were not members of any Committee.
The Board met 8 times during fiscal year 2022. Each of the directors attended over 75% of the Board meetings and meetings of the Committees on which they served. Our Corporate Governance Guidelines provide that directors are expected to attend meetings of the Board, its Committees on which they serve, and the Annual Meeting of Shareholders. Each Committee operates under a written charter. The Charters are available on our corporate website, www.chemours.com, under the heading “Investor Relations” and subheading “Corporate Governance.” The principal functions of each Committee are summarized below.
BOARD STRUCTURE AND COMMITTEE COMPOSITION(continued) AUDIT COMMITTEE The responsibilities of the Audit Committee are more fully described in the Audit Committee Charter and include, among other duties, the fulfillment of its and the Board’s oversight responsibilities relating to: ■ The integrity of the financial statements of the Company ■ The qualifications and independence of the Company’s independent auditor, and in connection with the Committee’s oversight in this regard, the Chair of the Audit Committee is engaged in the selection process for the audit engagement partner ■ The performance of the Company’s internal audit function and independent auditors ■ Compliance by the Company with legal and regulatory requirements ■ Conducting an annual Committee self- assessment and an assessment of the independent audit firm, and reporting the results to the full Board ■ Conducting a quarterly review of the Company’s cyber security and information security programs The Audit Committee consists entirely of independent directors, and each meets the heightened independence requirements under NYSE Listing Standards and the rules and regulations of the SEC relating to audit committees. Each member of the Audit Committee is financially literate and has accounting or related financial management expertise, as such terms are interpreted by the Board in its business judgment. Additionally, the Board of Directors has determined, in its business judgment, that four of the five members of the Audit Committee is an “audit committee financial expert” for purposes of the rules of the SEC. COMPENSATION AND LEADERSHIP DEVELOPMENT COMMITTEE The responsibilities of the Compensation and Leadership Development Committee are more fully described in the Compensation and Leadership Development Committee Charter and include, among other duties: ■ Assess current and future senior leadership talent, including their development and the succession plans of key management positions (other than CEO) ■ Assist the Board in CEO succession planning, including providing oversight of the CEO’s succession planning process. ■ Conduct an annual review of the Company’s diversity talent, as well as diversity representation on the slate for key positions ■ Oversee the performance evaluation of the CEO based on input from other independent directors versus Board-approved goals and objectives ■ Recommend to the independent members of the Board, compensation, including severance agreements as appropriate, for the CEO ■ Review and approve compensation and employment arrangements, including equity compensation plans, bonus plans and severance agreements as appropriate, of the CEO and other senior executive officers ■ Review the Company’s incentive compensation arrangements to determine whether they encourage excessive risk-taking, review and discuss at least annually the relationship between risk management policies and practices and compensation, and evaluate compensation policies and practices that could mitigate any such risk. Review and approve the Compensation Discussion and Analysis and the Committee report, and other executive compensation disclosures, as required to be included in the Company’s applicable SEC filings ■ Conduct an annual Committee self-assessment and an assessment of the independent compensation consultant and report the results to the full Board
BOARD STRUCTURE AND COMMITTEE COMPOSITION The Compensation and Leadership Development Committee consists entirely of independent directors, and each member meets the heightened independence requirements under NYSE Listing Standards and the rules and regulations of the SEC relating to compensation committees; and is a “non-employee director” for purposes of Rule 16b-3 promulgated under the Exchange Act. Compensation Committee Interlocks and Insider Participation During fiscal year 2022, none of the members of the Compensation and Leadership Development Committee was an officer or employee of the Company. No executive officer of the Company served on the compensation committee (or other board committee performing equivalent functions) or on the board of directors of any Company having an executive officer who served on the Compensation and Leadership Development Committee or the Board. NOMINATING AND CORPORATE GOVERNANCE COMMITTEE The responsibilities of the NCG Committee are more fully described in the NCG Committee Charter and include, among other duties: ■ Develop and recommend to the Board of Directors a set of corporate governance guidelines ■ Identify individuals qualified to become Board members consistent with criteria approved by the Board and recommend to the Board nominees for election as directors, including nominees whom the Board proposes for election as directors at the Annual Meeting ■ Review and approve any transaction between the Company and any related person in accordance with the Company’s policies and procedures for transactions with related persons ■ Oversee our corporate governance practices, including reviewing and recommending to the Board of Directors for approval any changes to the Company’s Code of Conduct, Certificate of Incorporation, Bylaws and Committee Charters ■ Oversee the Company’s policies, performance, and reporting in the areas of corporate responsibility, including environmental, social and governance ■ Conduct an annual assessment of the Committee’s performance, oversee the self-evaluation process of the entire Board of Directors and its other Committees, establish the evaluation criteria, implement the process and report its findings on the process to the Board of Directors ■ The NCG Committee consists entirely of independent directors, and each meets the independence requirements set forth in the NYSE Listing Standards.
DIRECTOR COMPENSATION OVERVIEW Non-employee directors receive compensation for Board service, which is designed to fairly compensate them for their Board responsibilities and align their interests with the long-term interests of shareholders. The NCG Committee, which consists solely of independent directors, has the primary responsibility to review and consider any revisions to directors’ compensation. During fiscal year 2022, non-employee directors were entitled to the following annual retainers:
(1) Amounts payable in cash may be deferred pursuant to The Chemours Company Stock Accumulation and Deferred Compensation Plan for Directors (the “Directors Deferred Compensation Plan”), which is described further below. (2) Equity awards are valued as of the grant date and rounded down to the nearest whole share. Equity awards may be deferred pursuant to Directors Deferred Compensation Plan. For 2022, equity awards were in the form of shares of common stock or for directors who elected to defer their equity awards, deferred stock units (DSUs) that convert into shares of common stock when a director leaves the Board or on a grant date anniversary selected by the director. Before DSUs are converted into shares, directors are not entitled to dividends on the DSUs, but they receive dividend equivalents (credited in the form of additional DSUs) that likewise are converted into shares (with any fractional share paid in cash) upon termination of service or on a grant date anniversary selected by the director. The fees reflected in the table above assume service for a full year. Directors who serve for less than the full year are entitled to receive a pro-rated portion of the applicable payment. Each “year,” for purposes of non-employee director compensation, begins on the date of the Company’s annual meeting of shareholders. The Company does not pay meeting fees but does pay for or reimburse directors for reasonable expenses related to Board service, including for attending Board, Committee, educational and Company business meetings. During 2022, the NCG Committee reviewed the annual amount of the non-employee director equity and cash compensation and recommended no changes to director compensation. The Board believes the compensation program is in the best interest of the Company and designed to fairly compensate directors for their Board responsibilities and align their interests with the long-term interests of shareholders. The Board has adopted share ownership guidelines applicable to non-employee director equity awards. The share ownership guidelines, contained in the Corporate Governance Guidelines, require non-employee directors to hold at least six (6) times the cash portion of their annual retainer worth of Chemours common stock and/or DSUs while serving as a director. Non-employee directors will have five (5) years to attain this ownership threshold from the time of their election to the Board. THE CHEMOURS COMPANY STOCK ACCUMULATION AND DEFERRED COMPENSATION PLAN FOR DIRECTORS Under the Stock Accumulation and Deferred Compensation Plan for Directors, a director is eligible to defer all or part of his or her Board retainer and Committee Chair fees in an interest-bearing notional cash account or stock units until a future year or years, payable in a lump sum or equal annual installments. Interest will accrue on the notional cash account at a rate corresponding to the average 30-year Treasury securities rate applicable for the quarter (or at such other rate as may be specified by the Compensation Committee from time to time) with quarterly compounding. Dividend equivalents will accrue on deferred stock units. This deferred compensation is an unsecured obligation of the Company.
DIRECTOR COMPENSATION(continued) 2022 DIRECTOR COMPENSATION TABLE The following table shows information concerning the compensation paid in fiscal year 2022 to non-employee directors:
(1) Column reflects all cash compensation earned during fiscal year 2022, whether or not payment was deferred pursuant to the Directors Deferred Compensation Plan. (2) This column represents the dollar amount recognized for financial statement reporting purposes with respect to fiscal year 2022 in accordance with FASB ASC 718 as the grant date fair value of compensation earned by directors in the form of DSUs of Chemours common stock or shares of common stock. This value is determined by dividing the annual equity award amount by the closing share price on the date of grant and rounding down to the next whole share, then multiplying by the closing share price on the grant date. (3) This amount represents the payment for legal fees that Mr. Pepy incurred for tax counseling relating to the foreign tax treatment of his director compensation. This amount was paid in euros and the U.S.-dollar equivalent is shown based on an exchange rate of $1.0654 (4) Bradley Bell resigned as a Director effective as of January 2, 2023. (5) This amount reflects the total actually received by Mr. Pepy due to variations in the exchange rate on the dates of payment. (6) This amount reflects the pro-rated award Mr. Pepy received in March 2022 for his partial year service and his 2022 annual equity award amount. The aggregate number of DSUs held by each non-employee director at fiscal year-end is as follows:
(1) Bradley Bell resigned as a Director effective as of January 2, 2023.
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| NAME OF BENEFICIAL OWNER | | | DIRECT(1) | | | INDIRECT(2) | | | RIGHT TO ACQUIRE(3) | | | TOTAL | | | PERCENT OF CLASS | | |||||||||||||||
| Mark E. Newman | | | | | 199,024 | | | | | | 34,635 | | | | | | 580,274 | | | | | | 813,933 | | | | | | * | | |
| Sameer Ralhan | | | | | 320,749 | | | | | | — | | | | | | 293,169 | | | | | | 613,918 | | | | | | * | | |
| Edwin Sparks | | | | | 83,051 | | | | | | — | | | | | | 74,908 | | | | | | 157,959 | | | | | | * | | |
| Alisha Bellezza | | | | | 11,348 | | | | | | — | | | | | | 46,519 | | | | | | 57,867 | | | | | | * | | |
| Denise Dignam | | | | | 9,840 | | | | | | — | | | | | | 39,197 | | | | | | 49,037 | | | | | | * | | |
| David C. Shelton | | | | | 109,470 | | | | | | 76,492 | | | | | | 135,392 | | | | | | 321,354 | | | | | | * | | |
| Curtis V. Anastasio | | | | | 2,692 | | | | | | 3,500 | | | | | | 59,161 | | | | | | 65,353 | | | | | | * | | |
| Mary B. Cranston | | | | | 2,834 | | | | | | — | | | | | | 62,410 | | | | | | 65,244 | | | | | | * | | |
| Curtis J. Crawford | | | | | 27,703 | | | | | | 47 | | | | | | 72,949 | | | | | | 100,699 | | | | | | * | | |
| Dawn L. Farrell | | | | | 4,543 | | | | | | — | | | | | | 57,866 | | | | | | 62,409 | | | | | | * | | |
| Erin N. Kane | | | | | — | | | | | | — | | | | | | 32,512 | | | | | | 32,512 | | | | | | * | | |
| Sean D. Keohane | | | | | — | | | | | | — | | | | | | 31,794 | | | | | | 31,794 | | | | | | * | | |
| Guillaume Pepy | | | | | — | | | | | | — | | | | | | 5,970 | | | | | | 5,970 | | | | | | * | | |
| Sandra P. Rogers | | | | | — | | | | | | 378 | | | | | | 9,752 | | | | | | 10,130 | | | | | | * | | |
| Directors, nominees and executive officers as a group (17 persons) | | | | | 774,105 | | | | | | 38,560 | | | | | | 1,635,879 | | | | | | 2,448,544 | | | | | | 1.63% | | |
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| | 2023 Proxy Statement | | | 25 | |
| NAME AND ADDRESS OF BENEFICIAL OWNER | | | NUMBER OF SHARES BENEFICIALLY OWNED | | | PERCENT OF CLASS(5) | | ||||||
| BlackRock, Inc(1), 55 East 52nd Street New York, NY 10055 | | | | | 18,516,903 | | | | | | 12.3% | | |
| The Vanguard Group(2) 100 Vanguard Blvd. Malvern, PA 19355 | | | | | 18,416,153 | | | | | | 12.2% | | |
| FMR LLC(3) 245 Summer Street Boston, MA 02210 | | | | | 11,829,385 | | | | | | 7.8% | | |
| | | 2023 Proxy Statement | | | 26 | |
| 1. | | | 2. | | | 3. | | | 4. | | | 5. | | | 6. | |
| Executive Summary | | | Executive Compensation Philosophy and Pay-for-Performance | | | Executive Compensation Decision Making | | | 2022 Executive Compensation Highlights | | | Company Sponsored Employee Benefits | | | Other Required Disclosures | |
| | | 2023 Proxy Statement | | | 27 | |
| | | 2023 Proxy Statement | | | 28 | |
| | | 2023 Proxy Statement | | | 29 | |
| 2018 | | | 2019 | | | 2020 | | | 2021 | | | 2022 | |
| 96% | | | 95% | | | 94% | | | 94% | | | 95% | |
| | | 2023 Proxy Statement | | | 30 | |
| | | 2023 Proxy Statement | | | 31 | |
| 2022 Performance Against AIP Targets with Pay Scale Applied | |
| |
| | | 2023 Proxy Statement | | | 32 | |
| | | 2023 Proxy Statement | | | 33 | |
WHAT CHEMOURS DOES | | | | ||
| ☑ Pay-for-performance | | | ☒ Provide income tax gross-ups, other than for international assignment and / or relocation | |
| ☑ Deliver total direct compensation predominantly through | | | ☒ Re-price underwater stock options | |
| ☑ Set challenging short- and long-term incentive award goals | | | ☒ Allow hedging, pledging, short sales, derivative transactions, margin accounts or short-term trading | |
| ☑ Target pay and benefits to market competitive levels | | | ☒ Have a liberal share recycling provision in our equity plan | |
| ☑ Maintain robust stock ownership requirements | | | ☒ Provide single trigger change in control | |
| ☑ Maintain a | | | ☒ Offer excessive perquisites | |
| ☑ Annually review the constituents of Compensation | | | | |
| ☑ Undertake an annual review of compensation risk | | | | |
| |||||
☑ Regularly review compensation, especially | | | | |
| | | 2023 Proxy Statement | | | 34 | |
ELEMENT | | | | ||
| Base Salary | | | ■ Salary paid in cash ■ Provides a stable source of income and is a standard element in executive compensation packages ■ Compensates for expected day to day contribution ■ Supports equitable pay practices | |
| Annual Incentive Plan | | | ■ ■ Creates a variable incentive opportunity as a portion of the executive compensation package ■ Reinforces and rewards executives for delivering key business goals which are short term in nature ■ Pays only when minimum performance criteria are met and pays above market when target performance criteria are exceeded ■ Focuses on quantitative metrics but includes qualitative metrics when appropriate ■ Includes a mix of corporate and business | |
| Long-Term Incentive | | | ■ ■ Creates a compensation opportunity aligned with the interests of our ■ Provides incentive to achieve sustained performance and growth ■ Rewards executives for delivering total shareholder return | |
| | | 2023 Proxy Statement | | | 35 | |
| | | | | |
| Compensation and Leadership Development Committee | | | ■ Establish executive compensation philosophy ■ Approve incentive compensation programs and determine performance expectations for ■ Approve all compensation actions for the NEOs, other than the CEO, including base salary, ■ Recommend to the independent directors of the Board compensation actions for the CEO, including base salary, | |
| All Independent Board Members | | | ■ Assess performance of the CEO ■ Approve all compensation actions for the CEO, including base salary, | |
| Chief Executive Officer | | | ■ Provide compensation recommendations for the NEOs (other than the CEO) to the ■ ■ In consultation with the | |
| Independent Consultant to the Compensation and Leadership Development Committee | | | ■ Provide independent advice, research, and analytical services on a variety of subjects, including compensation of executive officers and executive compensation trends ■ Participate in meetings as requested and communicate with the CLDC Chair ■ Evaluate executive compensation policies and guidelines and provide analysis ■ | |
| | | 2023 Proxy Statement | | | 36 | |
| | | | | |
| Albemarle Corporation | | | | |
| Ashland Global Holdings Inc. | | | | |
| Avient Corporation | ||||
| | The Sherwin-Williams Company | | ||
| Cabot Corporation | | | Trinseo S.A. | |
| Celanese Corporation | | | Tronox Limited | |
| Eastman Chemical Company | | | Venator Materials PLC | |
| Huntsman Corporation | | | Westlake Chemical Corporation | |
| Olin Corporation | | | | |
| | | 2023 Proxy Statement | | | 37 | |
| | | | | |
| Albemarle Corporation | | | H.B. Fuller Company | |
| Avient Corporation | | | Huntsman Corporation | |
| Axalta Coating Systems Ltd. | | | Olin Corporation | |
| Cabot Corporation | | | Trinseo PLC | |
| Celanese Corporation | | | Tronox Holdings PLC | |
| Dupont de Nemours, Inc. | | | Venator Materials PLC | |
| Eastman Chemical Company | | | Westlake Chemical Corporation | |
| Element Solutions Inc. | | | | |
| | | 2023 Proxy Statement | | | 38 | |
| | | 2019 | | | 2020 | |
Base Salary | | | $1,050,000 | | | $1,050,000 | |
Target AIP Opportunity | | | $1,365,000 (130% of salary) | | | $1,365,000 (130% of salary) | |
Target LTI Opportunity (Grant Value) | | | $5,600,000 | | | $5,600,000 | |
Target Total Direct Compensation | | | $8,015,000 | | | $8,015,000 | |
| | | | 2021 | | | 2022 | |
| Base Salary | | | $975,000 | | | $1,000,000 | |
| Target AIP Opportunity | | | $1,170,000 (120% of salary) | | | $1,300,000 (130% of salary) | |
| Target LTI Opportunity (Grant Value) | | | $4,300,000 | | | $5,100,000 | |
| Target Total Direct Compensation | | | $6,445,000 | | | $7,400,000 | |
NEO | | | Base Salary ($) (as of December 31, 2019) | | | Base Salary ($) (as of December 31, 2020) | | ||||||
Mark Newman | | | | $ | 700,000 | | | | | $ | 700,000 | | |
Sameer Ralhan | | | | $ | 575,000 | | | | | $ | 575,000 | | |
David Shelton | | | | $ | 500,000 | | | | | $ | 500,000 | | |
Edwin Sparks | | | | $ | 475,000 | | | | | $ | 550,000 | | |
| NEO | | | BASE SALARY AS OF DECEMBER 31, 2021 | | | BASE SALARY AS OF DECEMBER 31, 2022 | | ||||||
| Sameer Ralhan | | | | $ | 625,000 | | | | | $ | 625,000 | | |
| Edwin Sparks | | | | $ | 550,000 | | | | | $ | 575,000 | | |
| Alisha Bellezza | | | | $ | 450,000 | | | | | $ | 465,000 | | |
| Denise Dignam | | | | $ | 450,000 | | | | | $ | 465,000 | | |
| David Shelton | | | | $ | 500,000 | | | | | $ | 500,000 | | |
| | | 2023 Proxy Statement | | | 39 | |
NEO | | | 2019 Annual Incentive Target (as % of Base Salary) | | | 2020 Annual Incentive Target (as % of Base Salary) | | ||||||
Mark Newman | | | | | 90% | | | | | | 90% | | |
Sameer Ralhan | | | | | 80% | | | | | | 80% | | |
David Shelton | | | | | 70% | | | | | | 70% | | |
Edwin Sparks | | | | | 75% | | | | | | 75% | | |
| NEO | | | BONUS TARGET AS OF DECEMBER 31, 2021 | | | BONUS TARGET AS OF DECEMBER 31, 2022 | |
| Sameer Ralhan | | | 80% | | | 80% | |
| Edwin Sparks | | | 75% | | | 75% | |
| Alisha Bellezza | | | 65% | | | 75% | |
| Denise Dignam | | | 65% | | | 75% | |
| David Shelton | | | 70% | | | 70% | |
| | | | | ||||
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CHEMOURS — AIP for Messrs. Newman, Ralhan, and Shelton | | | | ||
Chemours ESG | | | | ||
| |||||
Chemours Free Cash Flow | | | | ||
Chemours Adjusted EBITDA | | | |
| TITANIUM TECHNOLOGIES — AIP for Mr. Sparks | | | WEIGHT | |
Chemours ESG | | | 15.0% | | |
| Chemours Free Cash Flow | | | 20.0% | |
| Business Segment Free Cash Flow | | | 20.0% | |
| Business Segment EBITDA | | | 20.0% | |
| Business Segment Market Share | | | 25.0% | |
| THERMAL AND SPECIALIZED SOLUTIONS — AIP for Ms. Bellezza | | | WEIGHT | |
| Chemours ESG | | | 15.0% | |
| Chemours Free Cash Flow | | | 20.0% | |
| Business Segment Revenue | | | 25.0% | |
| | | |||
| |||||
Business Segment Adjusted EBITDA | | | |
| | | 2023 Proxy Statement | | | 41 | |
| ADVANCED PERFORMANCE MATERIALS — AIP for Ms. Dignam | | | WEIGHT | |
| Chemours ESG | | | 15.0% | |
| Chemours Free Cash Flow | | | | |
| Business | | | 25.0% | |
| Business | | | | |
| |||||
| | ||||
|
| | | 2023 Proxy Statement | | | 42 | |
Measure | | | Threshold(1) | | | Target | | | Maximum(2) | | | Actual | | | Weighted Funding Result | | |||||||||||||||
Corporate Adj. EBITDA | | | | $ | 920 | | | | | $ | 1,150 | | | | | $ | 1,380 | | | | | $ | 879 | | | | | | 0% | | |
Corporate Free Cash Flow | | | | $ | 250 | | | | | $ | 390 | | | | | $ | 585 | | | | | $ | 540 | | | | | | 89% | | |
| MEASURE | | | THRESHOLD(1) | | | TARGET | | | MAXIMUM(2) | | | ACTUAL | | | WEIGHTED FUNDING RESULT | | |||||||||||||||
| Consolidated Adjusted EBITDA | | | | $ | 1,177 | | | | | $ | 1,421 | | | | | $ | 1,674 | | | | | $ | 1,361 | | | | | | 40.0% | | |
| Consolidated Free Cash Flows | | | | $ | 372 | | | | | $ | 539 | | | | | $ | 745 | | | | | $ | 441 | | | | | | 31.3% | | |
| ESG Metric — Y/Y Gender Diversity Increase | | | | | 0.64% | | | | | | 0.77% | | | | | | 0.90% | | | | | | 0.08% | | | | | | 0.0% | | |
| ESG Metric — GHG Reporting Implementation (xOvertime) | | | | | 18 | | | | | | 21 | | | | | | 41 | | | | | | 21 | | | | | | 7.5% | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 78.8% | | |
Measure | | | Threshold(1) | | | Target | | | Maximum(2) | | | Actual | | | Weighted Funding Result | | |||||||||||||||
Corporate Adj. EBITDA | | | | $ | 920 | | | | | $ | 1,150 | | | | | $ | 1,380 | | | | | $ | 879 | | | | | | 0% | | |
Corporate Free Cash Flow | | | | $ | 250 | | | | | $ | 390 | | | | | $ | 585 | | | | | $ | 540 | | | | | | 22% | | |
Business Unit Revenue Share(3) | | | | | 15.5% | | | | | | 16.0% | | | | | | 17.0% | | | | | | 15.0% | | | | | | 0% | | |
Business Unit Free Cash Flow | | | | $ | 412 | | | | | $ | 515 | | | | | $ | 618 | | | | | $ | 477 | | | | | | 41% | | |
| MEASURE | | | THRESHOLD(1) | | | TARGET | | | MAXIMUM(2) | | | ACTUAL | | | WEIGHTED FUNDING RESULT | | |||||||||||||||
| Consolidated Free Cash Flows | | | | $ | 372 | | | | | $ | 539 | | | | | $ | 745 | | | | | $ | 441 | | | | | | 14.7% | | |
| ESG Metric — Y/Y Gender Diversity Increase | | | | | 0.64% | | | | | | 0.77% | | | | | | 0.90% | | | | | | 0.08% | | | | | | 0.0% | | |
| ESG Metric — GHG Reporting Implementation (xOvertime) | | | | | 18 | | | | | | 21 | | | | | | 41 | | | | | | 21 | | | | | | 7.5% | | |
| TT MNC Market Share | | | | | 32.8% | | | | | | 34.2% | | | | | | 35.6% | | | | | | 34.9% | | | | | | 37.5% | | |
| TT Adjusted EBITDA | | | | $ | 750 | | | | | $ | 906 | | | | | $ | 1,067 | | | | | $ | 601 | | | | | | 0.0% | | |
| TT Free Cash Flows | | | | $ | 587 | | | | | $ | 708 | | | | | $ | 834 | | | | | $ | 494 | | | | | | 0.0% | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 59.7% | | |
Measure | | | Threshold(1) | | | Target | | | Maximum(2) | | | Actual | | | Weighted Funding Result | | |||||||||||||||
Corporate Adj. EBITDA | | | | $ | 920 | | | | | $ | 1,150 | | | | | $ | 1,380 | | | | | $ | 879 | | | | | | 0% | | |
Corporate Free Cash Flow | | | | $ | 250 | | | | | $ | 390 | | | | | $ | 585 | | | | | $ | 540 | | | | | | 22% | | |
Business Unit Revenue | | | | $ | 2,495 | | | | | $ | 2,683 | | | | | $ | 2,871 | | | | | $ | 2,209 | | | | | | 0% | | |
Business Unit Free Cash Flow | | | | $ | 342 | | | | | $ | 428 | | | | | $ | 514 | | | | | $ | 441 | | | | | | 57% | | |
Measure | | | Threshold(1) | | | Target | | | Maximum(2) | | | Actual | | | Weighted Funding Result | | |||||||||||||||
Corporate Adj. EBITDA | | | | $ | 920 | | | | | $ | 1,150 | | | | | $ | 1,380 | | | | | $ | 879 | | | | | | 0% | | |
Corporate Free Cash Flow | | | | $ | 250 | | | | | $ | 390 | | | | | $ | 585 | | | | | $ | 540 | | | | | | 22% | | |
Business Unit Adj. EBITDA | | | | $ | 72 | | | | | $ | 90 | | | | | $ | 108 | | | | | $ | 73 | | | | | | 29% | | |
Business Unit Free Cash Flow | | | | $ | 46 | | | | | $ | 57 | | | | | $ | 68 | | | | | $ | 62 | | | | | | 36% | | |
| MEASURE | | | THRESHOLD(1) | | | TARGET | | | MAXIMUM(2) | | | ACTUAL | | | WEIGHTED FUNDING RESULT | | |||||||||||||||
| Consolidated Free Cash Flows | | | | $ | 372 | | | | | $ | 539 | | | | | $ | 745 | | | | | $ | 441 | | | | | | 14.7% | | |
| ESG Metric — Y/Y Gender Diversity Increase | | | | | 0.64% | | | | | | 0.77% | | | | | | 0.90% | | | | | | 0.08% | | | | | | 0.0% | | |
| ESG Metric — GHG Reporting Implementation (xOvertime) | | | | | 18 | | | | | | 21 | | | | | | 41 | | | | | | 21 | | | | | | 7.5% | | |
| TSS Revenue | | | | $ | 1,229 | | | | | $ | 1,356 | | | | | $ | 1,487 | | | | | $ | 1,679 | | | | | | 50.0% | | |
| TSS Adjusted EBITDA | | | | $ | 339 | | | | | $ | 409 | | | | | $ | 482 | | | | | $ | 603 | | | | | | 40.0% | | |
| TSS Free Cash Flows | | | | $ | 292 | | | | | $ | 352 | | | | | $ | 415 | | | | | $ | 534 | | | | | | 40.0% | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 152.2% | | |
| | | 2023 Proxy Statement | | | 43 | |
| MEASURE | | | THRESHOLD(1) | | | TARGET | | | MAXIMUM(2) | | | ACTUAL | | | WEIGHTED FUNDING RESULT | | |||||||||||||||
| Consolidated Free Cash Flows | | | | $ | 372 | | | | | $ | 539 | | | | | $ | 745 | | | | | $ | 441 | | | | | | 14.7% | | |
| ESG Metric — Y/Y Gender Diversity Increase | | | | | 0.64% | | | | | | 0.77% | | | | | | 0.90% | | | | | | 0.08% | | | | | | 0.0% | | |
| ESG Metric — GHG Reporting Implementation (xOvertime) | | | | | 18 | | | | | | 21 | | | | | | 41 | | | | | | 21 | | | | | | 7.5% | | |
| APM Revenue | | | | $ | 1,322 | | | | | $ | 1,458 | | | | | $ | 1,599 | | | | | $ | 1,618 | | | | | | 50.0% | | |
| APM Adjusted EBITDA | | | | $ | 259 | | | | | $ | 313 | | | | | $ | 369 | | | | | $ | 367 | | | | | | 39.0% | | |
| APM Free Cash Flows | | | | $ | 128 | | | | | $ | 155 | | | | | $ | 182 | | | | | $ | 141 | | | | | | 15.8% | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 127.0% | | |
NEO | | | Annual Incentive Target (as % of Base Salary) | | | Annual Incentive Target ($) | | | Annual Incentive Actual ($) | | |||||||||
Mark Vergnano | | | | | 130% | | | | | $ | 1,365,000 | | | | | $ | 1,207,479 | | |
Mark Newman | | | | | 90% | | | | | $ | 630,000 | | | | | $ | 557,298 | | |
Sameer Ralhan | | | | | 80% | | | | | $ | 460,000 | | | | | $ | 406,916 | | |
David Shelton | | | | | 70% | | | | | $ | 350,000 | | | | | $ | 309,610 | | |
Edwin Sparks | | | | | 75% | | | | | $ | 412,500 | | | | | $ | 327,938 | | |
| NEO | | | BONUS TARGET AS OF DECEMBER 31, 2022 | | | BASE SALARY AS OF DECEMBER 31, 2022 | | | ACTUAL ANNUAL INCENTIVE | | |||||||||
| Mark Newman | | | | | 130% | | | | | $ | 1,000,000 | | | | | $ | 1,024,400 | | |
| Sameer Ralhan | | | | | 80% | | | | | $ | 625,000 | | | | | $ | 394,000 | | |
| Edwin Sparks | | | | | 75% | | | | | $ | 575,000 | | | | | $ | 257,456 | | |
| Alisha Bellezza | | | | | 75% | | | | | $ | 465,000 | | | | | $ | 530,798 | | |
| Denise Dignam | | | | | 75% | | | | | $ | 465,000 | | | | | $ | 442,913 | | |
| David Shelton | | | | | 70% | | | | | $ | 500,000 | | | | | $ | 275,800 | | |
| NEO | | | LONG TERM INCENTIVE TARGET AS OF DECEMBER 31, 2021 | | | LONG TERM INCENTIVE TARGET AS OF DECEMBER 31, 2022 | | ||||||
| Sameer Ralhan | | | | $ | 1,200,000 | | | | | $ | 1,625,000 | | |
| Edwin Sparks | | | | $ | 900,000 | | | | | $ | 1,100,000 | | |
| Alisha Bellezza | | | | $ | 400,000 | | | | | $ | 550,000 | | |
| Denise Dignam | | | | $ | 450,000 | | | | | $ | 550,000 | | |
| David Shelton | | | | $ | 950,000 | | | | | $ | 950,000 | | |
| | | 2023 Proxy Statement | | | 44 | |
NEO | | | 2019 Long Term Incentive Target | | | 2020 Long Term Incentive Target | | ||||||
Mark Newman | | | | $ | 1,500,000 | | | | | $ | 1,500,000 | | |
Sameer Ralhan | | | | $ | 1,000,000 | | | | | $ | 1,000,000 | | |
David Shelton | | | | $ | 950,000 | | | | | $ | 950,000 | | |
Edwin Sparks | | | | $ | 800,000 | | | | | $ | 800,000 | | |
|
| | | 2023 Proxy Statement | | | 45 | |
| ADJUSTED NET INCOME | | | | | | FREE CASH FLOW CONVERSION | | | | |
| PERIOD | | | WEIGHTING | | | PERIOD | | | WEIGHTING | |
| Cumulative FY2022 – FY2024 | | | 50% | | | Average FY2022 – FY2024 | | | 50% | |
|
Adjusted Net Income | | | Free Cash Flow Conversion | | ||||||||||||
Period | | | Weighting | | | Period | | | Weighting | | ||||||
Cumulative FY2020 – FY2022 | | | | | 50% | | | | Average FY2020 – FY2022 | | | | | 50% | | |
Relative TSR | | | <25 percentile | | | >=P25 to <P40 | | | >=P40 to <P60 | | | >=P60 to <=P75 | | | >P75 | | ||||||||||||
Applied Modifier | | | | | 0.50 | | | | | | 0.75 | | | | 1.00 (No Adjustment) | | | | | 1.25 | | | | | | 1.50 | | |
| TSR MODIFIER | | | <P25 | | | >=P25 TO <P40 | | | >=P40 TO <P60 | | | >=P60 TO <=P75 | | | >P75 | |
| Relative TSR to Peer Group | | | 0.5 | | | 0.75 | | | 1 | | | 1.25 | | | 1.5 | |
|
| | | 2023 Proxy Statement | | | 46 | |
NEO | | | 2020 Target LTI Award Value | | | Share Equivalent Value of PSUs on grant date | | | Target Number of PSU Awards(1) | | | Grant Date Fair Value of RSUs | | | Number of RSUs granted | | | Grant Date Fair Value of Stock Options | | | Number of Stock Options Granted(2) | | |||||||||||||||||||||
Mark Vergnano | | | | $ | 5,600,000 | | | | | $ | 3,359,997 | | | | | | 232,848 | | | | | | | | | | | | | | | | | $ | 2,239,998 | | | | | | 598,930 | | |
Mark Newman | | | | $ | 1,500,000 | | | | | $ | 899,999 | | | | | | 62,370 | | | | | | | | | | | | | | | | | $ | 599,997 | | | | | | 160,427 | | |
Sameer Ralhan | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
March 2 | | | | $ | 1,000,000 | | | | | $ | 599,999 | | | | | | 41,580 | | | | | | | | | | | | | | | | | $ | 399,997 | | | | | | 106,951 | | |
December 1(3) | | | | $ | 1,000,000 | | | | | | | | | | | | | | | | | $ | 999,998 | | | | | | 39,510 | | | | | | | | | | | | | | |
David Shelton | | | | $ | 950,000 | | | | | $ | 569,999 | | | | | | 39,501 | | | | | | | | | | | | | | | | | $ | 379,999 | | | | | | 101,604 | | |
Edwin Sparks | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
March 2(3) | | | | $ | 1,300,000 | | | | | $ | 480,000 | | | | | | 33,264 | | | | | $ | 500,000 | | | | | | 34,650 | | | | | $ | 319,998 | | | | | | 85,561 | | |
December 1(3) | | | | $ | 1,000,000 | | | | | | | | | | | | | | | | | $ | 999,998 | | | | | | 39,510 | | | | | | | | | | | | | | |
| NEO | | | 2022 TARGET LTI AWARD VALUE | | | SHARE EQUIVALENT VALUE OF TARGET PSUS ON GRANT DATE | | | TARGET NUMBER OF PSU AWARDS(1) | | | GRANT DATE FAIR VALUE OF RSUS | | | NUMBER OF RSUS GRANTED | | | GRANT DATE FAIR VALUE OF STOCK OPTIONS | | | NUMBER OF STOCK OPTIONS GRANTED(2) | | |||||||||||||||||||||
| Mark Newman | | | | $ | 5,100,000 | | | | | $ | 2,549,989 | | | | | | 98,152 | | | | | $ | 509,987 | | | | | | 19,630 | | | | | $ | 2,039,991 | | | | | | 206,268 | | |
| Sameer Ralhan | | | | $ | 1,625,000 | | | | | $ | 812,499 | | | | | | 31,274 | | | | | $ | 162,479 | | | | | | 6,254 | | | | | $ | 649,991 | | | | | | 65,722 | | |
| Edwin Sparks | | | | $ | 1,100,000 | | | | | $ | 549,997 | | | | | | 21,170 | | | | | $ | 109,999 | | | | | | 4,234 | | | | | $ | 439,996 | | | | | | 44,489 | | |
| Alisha Bellezza(3) | | | | $ | 550,000 | | | | | $ | 274,998 | | | | | | 10,585 | | | | | $ | 554,985 | | | | | | 21,362 | | | | | $ | 219,993 | | | | | | 22,244 | | |
| Denise Dignam | | | | $ | 550,000 | | | | | $ | 274,998 | | | | | | 10,585 | | | | | $ | 55,000 | | | | | | 2,117 | | | | | $ | 219,993 | | | | | | 22,244 | | |
| David Shelton | | | | $ | 950,000 | | | | | $ | 474,992 | | | | | | 18,283 | | | | | $ | 94,983 | | | | | | 3,656 | | | | | $ | 379,994 | | | | | | 38,422 | | |
| METRIC | | | METRIC WEIGHT | | | 2020 ACTUAL | | | 2021 ACTUAL | | | 2022 ACTUAL | | | CUMULATIVE | | | % ATTAINMENT | | | ACHIEVEMENT WITH PAY CURVE APPLIED | | ||||||||||||||||||
| Adj. Net Income | | | | | 50% | | | | | | 329 | | | | | | 691 | | | | | | 812 | | | | | | 1,832 | | | | 85% | | | | | 43% | | |
| FCF Conversion | | | | | 50% | | | | | | 61.4% | | | | | | 51.2% | | | | | | 31.8% | | | | | | 46.0% | | | | 200% | | | | | 100% | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Weighted Outcome | | | | | 143% | | |
| | | 2023 Proxy Statement | | | 47 | |
Measurement Period | | | Weighting | | | Threshold | | | Target | | | Maximum | | | Result | | | Payout % (weighted) | | ||||||||||||||||||
FY2018 | | | | | 10.0% | | | | | $ | 4.85 | | | | | $ | 5.24 | | | | | $ | 6.03 | | | | | $ | 5.45 | | | | | | 12.7% | | |
FY2019 | | | | | 10.0% | | | | | $ | 5.41 | | | | | $ | 5.85 | | | | | $ | 6.73 | | | | | $ | 2.51 | | | | | | 0.0% | | |
FY2020 | | | | | 10.0% | | | | | $ | 6.31 | | | | | $ | 6.82 | | | | | $ | 7.84 | | | | | $ | 1.98 | | | | | | 0.0% | | |
FY2018 – FY2020 Cumulative | | | | | 20.0% | | | | | $ | 16.57 | | | | | $ | 17.91 | | | | | $ | 20.60 | | | | | $ | 9.94 | | | | | | 0.0% | | |
Measurement Period | | | Weighting | | | Threshold | | | Target | | | Maximum | | | Result | | | Payout % (weighted) | | ||||||||||||||||||
FY2018 | | | | | 10.0% | | | | | | 32.0% | | | | | | 39.4% | | | | | | 43.3% | | | | | | 39.2% | | | | | | 9.84% | | |
FY2019 | | | | | 10.0% | | | | | | 32.0% | | | | | | 41.4% | | | | | | 45.5% | | | | | | 17.3% | | | | | | 0.0% | | |
FY2020 | | | | | 10.0% | | | | | | 32.0% | | | | | | 46.1% | | | | | | 50.7% | | | | | | 14.4% | | | | | | 0.0% | | |
FY2018 – FY2020 Average | | | | | 20.0% | | | | | | 32.0% | | | | | | 42.3% | | | | | | 46.5% | | | | | | 23.6% | | | | | | 0.0% | | |
|
Modifier | | | Min | | | Target | | | Max | | | Result | | | Modifier | | ||||||||||||
Relative TSR to Peer Group | | | | | <P25 | | | | | | P25 – P75 | | | | | | >P75 | | | | 4th Percentile | | | | | 0.75 | | |
| | | 0.75 | | | | | | 1.00 | | | | | | 1.25 | | |
| <P25 | | | >=P25 TO <P40 | | | >=P40 TO <P60 | | | >=P60 TO <=P75 | | | >P75 | | | ACHIEVEMENT | |
| 0.5 | | | 0.75 | | | 1 | | | 1.25 | | | 1.5 | | | 150% | |
|
| | | | | | | | |
| | | Eastman Chemical Co. | | | The Sherwin-Williams Company | | |
| ||||||||
Ashland Global Holdings Inc. | | | Huntsman Corporation | | | | ||
| Avient Corporation(1) | | | Olin Corporation | | | | |
| Axalta Coating Systems Ltd | | | PPG Industries Inc. | | | | |
| | | RPM International | | | Westlake Chemical Corp. | | |
| Celanese Corporation | | | | | | | |
NEO | | | Target # of PSUs Granted | | | Payout % | | | # of PSU’s Earned | | ||||||
Mark Vergnano | | | | | 68,000 | | | | 17% | | | | | 11,560 | | |
Mark Newman | | | | | 14,837 | | | | 17% | | | | | 2,522 | | |
Sameer Ralhan | | | | | 3,091 | | | | 17% | | | | | 525 | | |
David Shelton | | | | | 10,509 | | | | 17% | | | | | 1,787 | | |
Edwin Sparks | | | | | 3,400 | | | | 17% | | | | | 578 | | |
| NEO(1) | | | SHARED GRANTED IN 2020 | | | ACHIEVEMENT | | | EARNED SHARE AWARD | |
| Mark Newman | | | 62,370 | | | 214% | | | 147,540 | |
| Sameer Ralhan | | | 41,580 | | | 214% | | | 98,360 | |
| Edwin Sparks | | | 33,264 | | | 214% | | | 78,688 | |
| David Shelton | | | 39,501 | | | 214% | | | 93,442 | |
| | | 2023 Proxy Statement | | | 48 | |
| | | 2023 Proxy Statement | | | 49 | |
MULTIPLE OF BASE SALARY | | | | |||||
| CEO | | | | | 5.0x | | |
| Other NEOs | | | | | 3.0x | | |
|
| | | 2023 Proxy Statement | | | 50 | |
| | | 2023 Proxy Statement | | | 51 | |
Element | | | Median Employee | | | CEO | | ||||||
Salary (includes Overtime)(1) | | | | $ | 95,730 | | | | | $ | 1,029,808 | | |
Stock Awards | | | | $ | 0 | | | | | $ | 3,991,015 | | |
Option Awards | | | | $ | 0 | | | | | $ | 2,239,998 | | |
Non-Equity Incentive Plan Compensation/Bonus(2) | | | | $ | 3,061 | | | | | $ | 1,207,479 | | |
Change in Pension Value | | | | $ | 0 | | | | | $ | 0 | | |
All Other Compensation(3) | | | | $ | 5,525 | | | | | $ | 138,276 | | |
Summary Compensation Table Totals | | | | $ | 104,316 | | | | | $ | 8,606,576 | | |
CEO Pay Ratio | | | 83:1 | |
Name and Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards ($)(1)(2) | | Option Awards ($)(3) | | Non-Equity Incentive Plan Compensation ($)(4) | | All Other Compensation ($)(5) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mark Vergnano President and Chief Executive Officer | | | | | 2020 | | | | | 1,029,808 | | | | | | | 3,991,015 | | | | | 2,239,998 | | | | | 1,207,479 | | | | | 138,276 | | | | | 8,606,576 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 1,029,808 | | | | | | | 4,273,767 | | | | | 2,239,992 | | | | | | | | | | 152,077 | | | | | 7,695,644 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2018 | | | | | 1,041,667 | | | | | | | 3,559,120 | | | | | 2,199,980 | | | | | 1,000,545 | | | | | 275,417 | | | | | 8,076,729 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mark Newman, Senior Vice President and Chief Operating Officer | | | | | 2020 | | | | | 678,462 | | | | | | | 1,069,022 | | | | | 599,997 | | | | | 557,298 | | | | | 90,691 | | | | | 2,995,470 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 649,290 | | | | | | | 1,296,199 | | | | | 719,982 | | | | | | | | | | 85,347 | | | | | 2,750,819 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2018 | | | | | 591,220 | | | | | | | 776,569 | | | | | 479,986 | | | | | 346,691 | | | | | 100,591 | | | | | 2,295,057 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sameer Ralhan Senior Vice President and Chief Financial Officer | | | | | 2020 | | | | | 575,000 | | | | | | | 1,712,679 | | | | | 399,997 | | | | | 406,916 | | | | | 48,740 | | | | | 3,143,332 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 474,588 | | | | | | | 792,940 | | | | | 439,987 | | | | | | | | | | 30,847 | | | | | 1,738,361 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David Shelton Senior Vice President General Counsel | | | | | 2020 | | | | | 498,077 | | | | | | | 677,047 | | | | | 379,999 | | | | | 309,610 | | | | | 60,461 | | | | | 1,925,194 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 493,910 | | | | | | | 725,013 | | | | | 379,988 | | | | | | | | | | 83,737 | | | | | 1,682,648 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2018 | | | | | 475,000 | | | | | | | 550,041 | | | | | 340,000 | | | | | 243,723 | | | | | 145,900 | | | | | 1,510,941 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Edwin Sparks President, Fluoroproducts and Chemical Solutions | | | | | 2020 | | | | | 537,500 | | | | | | | 2,070,143 | | | | | 319,998 | | | | | 327,938 | | | | | 56,980 | | | | | 3,312,559 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2019 | | | | | 396,300 | | | | | | | 564,003 | | | | | 319,992 | | | | | 241,511 | | | | | 57,173 | | | | | 1,578,979 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NAME AND PRINCIPAL POSITION | | YEAR | | SALARY ($) | | BONUS ($) | | STOCK AWARDS ($)(1)(2) | | OPTION AWARDS ($)(3) | | NON-EQUITY INCENTIVE PLAN COMPENSATION ($)(4) | | CHANGE IN PENSION VALUE AND NONQUALIFIED AND DEFERRED COMPENSATION EARNINGS ($) | | ALL OTHER COMPENSATION ($)(5) | | TOTAL ($) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mark Newman President and Chief Executive Officer | | | | | 2022 | | | | | 995,833 | | | | | | | 3,464,363 | | | | | 2,039,991 | | | | | 1,024,400 | | | | | — | | | | | 145,764 | | | | | 7,670,351 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | 837,500 | | | | | | | 1,879,997 | | | | | 1,159,987 | | | | | 1,611,000 | | | | | 168,559 | | | | | 49,185 | | | | | 5,706,228 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 678,462 | | | | | | | 1,069,022 | | | | | 599,997 | | | | | 557,298 | | | | | 93,426 | | | | | 90,691 | | | | | 3,088,896 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sameer Ralhan Senior Vice President, Chief Financial Officer | | | | | 2022 | | | | | 625,000 | | | | | | | 1,103,826 | | | | | 649,991 | | | | | 394,000 | | | | | — | | | | | 67,940 | | | | | 2,840,757 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | 616,667 | | | | | | | 786,684 | | | | | 479,993 | | | | | 895,000 | | | | | 96,908 | | | | | 38,400 | | | | | 2,913,652 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 575,000 | | | | | | | 1,712,679 | | | | | 399,997 | | | | | 406,916 | | | | | 55,937 | | | | | 48,740 | | | | | 3,199,269 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Edwin Sparks President, Chemical Solutions and Titanium Technologies | | | | | 2022 | | | | | 570,833 | | | | | | | 747,216 | | | | | 439,996 | | | | | 257,456 | | | | | — | | | | | 77,659 | | | | | 2,093,160 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | 546,058 | | | | | | | 590,026 | | | | | 359,992 | | | | | 734,250 | | | | | 30,483 | | | | | 41,521 | | | | | 2,302,329 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 537,500 | | | | | | | 2,070,143 | | | | | 319,998 | | | | | 327,938 | | | | | 25,984 | | | | | 56,980 | | | | | 3,338,542 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Alisha Bellezza President, Thermal & Specialized Solutions | | | | | 2022 | | | | | 462,500 | | | | | | | 873,593 | | | | | 219,993 | | | | | 530,798 | | | | | — | | | | | 74,398 | | | | | 2,161,282 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Denise Dignam President, Advanced Performance Materials | | | | | 2022 | | | | | 462,500 | | | | | | | 373,608 | | | | | 219,993 | | | | | 442,913 | | | | | — | | | | | 71,650 | | | | | 1,570,664 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| David Shelton Senior Vice President, General Counsel and Corporate Secretary (January – September) | | | | | 2022 | | | | | 500,000 | | | | | | | 645,301 | | | | | 379,994 | | | | | 275,800 | | | | | — | | | | | 69,842 | | | | | 1,870,937 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | 500,000 | | | | | | | 1,122,778 | | | | | 379,992 | | | | | 626,500 | | | | | 142,182 | | | | | 44,400 | | | | | 2,815,852 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 498,077 | | | | | | | 677,047 | | | | | 379,999 | | | | | 309,610 | | | | | 108,889 | | | | | 60,461 | | | | | 2,034,083 | | |
Name | | | Company Contributions to Qualified Defined Contribution Plan ($) | | | Company Contribution to Nonqualified Defined Contribution Plan ($) | | | Financial Planning/ Income Tax Preparation ($) | | | Separation Agreements ($) | | |||||||||
Mark Vergnano | | | | | 17,100 | | | | | | 108,737 | | | | | | 15,000 | | | | | |
Mark Newman | | | | | 17,100 | | | | | | 61,853 | | | | | | 15,000 | | | | | |
Sameer Ralhan | | | | | 17,100 | | | | | | 40,665 | | | | | | 7,500 | | | | | |
David Shelton | | | | | 17,100 | | | | | | 15,961 | | | | �� | | 15,000 | | | | | |
Edwin Sparks | | | | | 17,100 | | | | | | 31,976 | | | | | | 8,353 | | | | | |
| | | 2023 Proxy Statement | | | 52 | |
| NAME | | | COMPANY CONTRIBUTIONS TO QUALIFIED DEFINED CONTRIBUTION PLAN ($) | | | COMPANY CONTRIBUTION TO NONQUALIFIED DEFINED CONTRIBUTION PLAN ($) | | | FINANCIAL PLANNING/ INCOME TAX PREPARATION ($) | | |||||||||
| Mark Newman | | | | | 19,300 | | | | | | 111,464 | | | | | | 15,000 | | |
| Sameer Ralhan | | | | | 19,300 | | | | | | 39,265 | | | | | | 9,375 | | |
| Edwin Sparks | | | | | 20,300 | | | | | | 44,197 | | | | | | 13,162 | | |
| Alisha Bellezza | | | | | 19,300 | | | | | | 55,098 | | | | | | — | | |
| Denise Dignam | | | | | 21,300 | | | | | | 49,825 | | | | | | 525 | | |
| David Shelton | | | | | 20,300 | | | | | | 41,548 | | | | | | 7,994 | | |
| | | 2023 Proxy Statement | | | 53 | |
| | | | | | | | | Estimated Possible Payouts Under Nonequity Incentive Plan Awards(1) | | Estimated Future Payouts Under Equity Incentive Plan Awards(2) | | | All Other Stock Awards; Number of Shares of Stock or Units (#) | | All other Option Awards; Number of Securities Underlying Options(3) (#) | | Exercise of Base Price of Option Awards ($) | | Grant Date Fair Value of Stock and Option Awards ($) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | | Type of award | | Grant date | | Approval date | | Threshold ($) | | Target ($) | | Maximum ($) | | Threshold (#) | | Target (#) | | Maximum (#) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mark Vergnano | | 2020 AIP | | | | | | 682,500 | | 1,365,000 | | 2,730,000 | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | Stock Options | | 3/2/20 | | 2/10/20 | | | | | | | | | | | | | | | | 598,930 | | 14.43 | | 2,239,998 | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | PSU | | 3/2/20 | | 2/10/20 | | | | | | | | 116,424 | | 232,848 | | 582,120 | | | | | | | | 3,991,015 | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mark Newman | | 2020 AIP | | | | | | 315,000 | | 630,000 | | 1,260,000 | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | Stock Options | | 3/2/20 | | 2/10/20 | | | | | | | | | | | | | | | | 160,427 | | 14.43 | | 599,997 | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | PSU | | 3/2/20 | | 2/10/20 | | | | | | | | 31,185 | | 62,370 | | 155,925 | | | | | | | | 1,069,022 | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sameer Ralhan | | 2020 AIP | | | | | | 230,000 | | 460,000 | | 920,000 | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | Stock Options | | 3/2/20 | | 2/10/20 | | | | | | | | | | | | | | | | 106,951 | | 14.43 | | 399,997 | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | PSU | | 3/2/20 | | 2/10/20 | | | | | | | | 20,790 | | 41,580 | | 103,950 | | | | | | | | 712,681 | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | RSU | | 12/1/20 | | 10/27/20 | | | | | | | | | | | | | | 39,510 | | | | | | 999,998 | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David Shelton | | 2020 AIP | | | | | | 175,000 | | 350,000 | | 700,000 | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | Stock Options | | 3/2/20 | | 2/10/20 | | | | | | | | | | | | | | | | 101,604 | | 14.43 | | 379,999 | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | PSU | | 3/2/20 | | 2/10/20 | | | | | | | | 19,751 | | 39,501 | | 98,753 | | | | | | | | 677,047 | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Edwin Sparks | | 2020 AIP | | | | | | 206,250 | | 412,500 | | 825,000 | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | Stock Options | | 3/2/20 | | 2/10/20 | | | | | | | | | | | | | | | | 85,561 | | 14.43 | | 319,998 | | | | | | | | | | | | | | | | | ESTIMATED POSSIBLE PAYOUTS UNDER NONEQUITY INCENTIVE PLAN AWARDS(1) | | ESTIMATED FUTURE PAYOUTS UNDER EQUITY INCENTIVE PLAN AWARDS(2) | | | ALL OTHER STOCK AWARDS; NUMBER OF SHARES OF STOCK OR UNITS (#) | | ALL OTHER OPTION AWARDS; NUMBER OF SECURITIES UNDERLYING OPTIONS(3) (#) | | EXERCISE OF BASE PRICE OF OPTION AWARDS ($) | | GRANT DATE FAIR VALUE OF STOCK AND OPTION AWARDS ($) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | PSU | | 3/2/20 | | 2/10/20 | | | | | | | | 16,632 | | 33,264 | | 83,160 | | | | | | | | 570,145 | | NAME | | TYPE OF AWARD | | GRANT DATE | | APPROVAL DATE | | THRESHOLD ($) | | TARGET ($) | | MAXIMUM ($) | | THRESHOLD (#) | | TARGET (#) | | MAXIMUM (#) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | RSU | | 3/2/20 | | 2/10/20 | | | | | | | | | | | | | | 34,650 | | | | | | 500,000 | | Mark Newman | | | 2022 AIP | | | | | | | | | | | | 650,000 | | | | 1,300,000 | | | | | 2,600,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||
| | RSU | | 12/1/20 | | 10/27/20 | | | | | | | | | | | | | | 39,510 | | | | | | 999,998 | | | Stock Options | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 206,268 | | | | | 25.98 | | | | | 2,039,991 | | | |||||||||||||||||||||||||||||||||
| | PSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | 49,076 | | | | | 98,152 | | | | | 245,380 | | | | | | | | | | | | | | | | | | | | 2,954,375 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 19,630 | | | | | | | | | | | | | | | 509,987 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sameer Ralhan | | | 2022 AIP | | | | | | | | | | | | 250,000 | | | | 500,000 | | | | | 1,000,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock Options | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 65,722 | | | | | 25.98 | | | | | 649,991 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | PSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | 15,637 | | | | | 31,274 | | | | | 78,185 | | | | | | | | | | | | | | | | | | | | 941,347 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,254 | | | | | | | | | | | | | | | 162,479 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Edwin Sparks | | | 2022 AIP | | | | | | | | | | | | 215,625 | | | | 431,250 | | | | | 862,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock Options | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 44,489 | | | | | 25.98 | | | | | 439,996 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | PSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | 10,585 | | | | | 21,170 | | | | | 52,925 | | | | | | | | | | | | | | | | | | | | 637,217 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,234 | | | | | | | | | | | | | | | 109,999 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alisha Bellezza | | | 2022 AIP | | | | | | | | | | | | 174,375 | | | | 348,750 | | | | | 697,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock Options | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 22,244 | | | | | 25.98 | | | | | 219,993 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | PSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | 5,293 | | | | | 10,585 | | | | | 26,463 | | | | | | | | | | | | | | | | | | | | 318,609 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 21,362 | | | | | | | | | | | | | | | 554,985 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Denise Dignam | | | 2022 AIP | | | | | | | | | | | | 174,375 | | | | 348,750 | | | | | 697,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock Options | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 22,244 | | | | | 25.98 | | | | | 219,993 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | PSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | 5,293 | | | | | 10,585 | | | | | 26,463 | | | | | | | | | | | | | | | | | | | | 318,609 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,117 | | | | | | | | | | | | | | | 55,000 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
David Shelton | | | 2022 AIP | | | | | | | | | | | | 175,000 | | | | 350,000 | | | | | 700,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock Options | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 38,422 | | | | | 25.98 | | | | | 379,994 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | PSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | 9,142 | | | | | 18,283 | | | | | 45,708 | | | | | | | | | | | | | | | | | | | | 550,318 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RSU | | | | 3/1/22 | | | | | 2/8/22 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,656 | | | | | | | | | | | | | | | 94,983 | | |
| | | 2023 Proxy Statement | | | 54 | |
| | | | | | | | Option Awards | | Stock Awards | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | Number of Securities Underlying Unexercised Options(1) | | Shares or Units of Stock that Have Not Vested(2) | | Equity Incentive Plan Awards: Unearned Shares, Units or Other Rights that Have Not Vested(3) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | | Grant Date | | Exercisable (#) | | Unexercisable (#) | | Option Exercise Price ($) | | Option Expiration Date | | Number (#) | | Market Value ($) | | Number (#) | | Market or Payout Value ($) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mark Vergnano | | | | 3/2/2020 | | | | | | | | | | 598,930 | | | | | 14.43 | | | | | 3/2/2030 | | | | | | | | | | | | | | | 582,120 | | | | | 14,430,755 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/1/2019 | | | | | 52,033 | | | | | 104,064 | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | 44,187 | | | | | 1,095,396 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/1/2018 | | | | | 71,370 | | | | | 35,685 | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/1/2017 | | | | | 145,118 | | | | | | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/1/2016 | | | | | 543,944 | | | | | | | | | | 5.40 | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 7/6/2015 | | | | | 331,231 | | | | | | | | | | 16.04 | | | | | 7/5/2025 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 2/4/2015 | | | | | 198,121 | | | | | | | | | | 18.45 | | | | | 2/3/2022 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mark Newman | | | | 3/2/2020 | | | | | | | | | | 160,427 | | | | | 14.43 | | | | | 3/2/2030 | | | | | | | | | | | | | | | 155,925 | | | | | 3,865,381 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 6/3/2019 | | | | | | | | | | 29,717 | | | | | 21.96 | | | | | 6/3/2029 | | | | | | | | | | | | | | | 6,831 | | | | | 169,340 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/1/2019 | | | | | 12,079 | | | | | 24,157 | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | 10,258 | | | | | 254,296 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/1/2018 | | | | | 15,571 | | | | | 7,786 | | | | | 48.53 | | | | | 3/1/2028 | | | | | 2,522 | | | | | 62,520 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/1/2017 | | | | | 31,662 | | | | | | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/1/2016 | | | | | 166,089 | | | | | | | | | | 5.40 | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 7/6/2015 | | | | | 197,161 | | | | | | | | | | 16.04 | | | | | 7/5/2025 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 2/4/2015 | | | | | 67,675 | | | | | | | | | | 18.45 | | | | | 2/3/2022 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sameer Ralhan | | | | 12/1/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 39,510 | | | | | 979,453 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/2/2020 | | | | | | | | | | 106,951 | | | | | 14.43 | | | | | 3/2/2030 | | | | | | | | | | | | | | | 103,950 | | | | | 2,576,921 | | | | | | OPTION AWARDS | | STOCK AWARDS | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 6/3/2019 | | | | | | | | | | 17,830 | | | | | 21.96 | | | | | 6/3/2029 | | | | | | | | | | | | | | | 4,098 | | | | | 101,589 | | | | | | NUMBER OF SECURITIES UNDERLYING UNEXERCISED OPTIONS(1) | | SHARES OR UNITS OF STOCK THAT HAVE NOT VESTED(2) | | EQUITY INCENTIVE PLAN AWARDS: UNEARNED SHARES, UNITS OR OTHER RIGHTS THAT HAVE NOT VESTED(3) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/1/2019 | | | | | 7,433 | | | | | 14,866 | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | 6,312 | | | | | 156,474 | | | NAME | | GRANT DATE | | EXERCISABLE (#) | | UNEXERCISABLE (#) | | OPTION EXERCISE PRICE ($) | | OPTION EXPIRATION DATE | | NUMBER (#) | | MARKET VALUE ($) | | NUMBER (#) | | MARKET OR PAYOUT VALUE ($) | | ||||||||||||||||||||||||||||||||||||||||||
| | | | 3/1/2018 | | | | | 3,244 | | | | | 1,622 | | | | | 48.53 | | | | | 3/1/2028 | | | | | 525 | | | | | 13,015 | | | | | | | | | | | | | Mark Newman | | | 3/1/2022 | | | | — | | | | | 206,268 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 19,630 | | | | | 601,071 | | | | | 98,152 | | | | | 3,005,414 | | | |||||||||||||||||
| | | | 3/1/2017 | | | | | 6,596 | | | | | | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | 7/1/2021 | | | | 11,566 | | | | | 23,130 | | | | | 35.46 | | | | | 7/1/2031 | | | | | 2,632 | | | | | 80,592 | | | | | 49,350 | | | | | 1,511,097 | | | |||||||||||||||||||
| | | | 4/26/2016 | | | | | 80,000 | | | | | | | | | | 9.43 | | | | | 4/26/2026 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2021 | | | | 20,450 | | | | | 40,899 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 4,164 | | | | | 127,502 | | | | | 78,090 | | | | | 2,391,116 | | | |||||||||||||||||||
| | | | 3/1/2016 | | | | | 55,363 | | | | | | | | | | 5.40 | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | | 3/2/2020 | | | | 106,951 | | | | | 53,476 | | | | | 14.43 | | | | | 3/2/2030 | | | | | 133,472 | | | | | 4,086,907 | | | | | | | | | | | | | |||||||||||||||||||
| | | | 2/4/2015 | | | | | 34,457 | | | | | | | | | | 18.45 | | | | | 2/3/2022 | | | | | | | | | | | | | | | | | | | | | | | | 6/3/2019 | | | | 29,717 | | | | | — | | | | | 21.96 | | | | | 6/3/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
David Shelton | | | | 3/2/2020 | | | | | | | | | | 101,604 | | | | | 14.43 | | | | | 3/2/2030 | | | | | | | | | | | | | | | 98,753 | | | | | 2,448,087 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/1/2019 | | | | | 8,827 | | | | | 17,653 | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | 7,496 | | | | | 185,826 | | | | 3/1/2019 | | | | 36,236 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | | 3/1/2018 | | | | | 11,030 | | | | | 5,515 | | | | | 48.53 | | | | | 3/1/2028 | | | | | 1,787 | | | | | 44,300 | | | | | | | | | | | | | | 3/1/2018 | | | | 23,357 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | | 3/1/2017 | | | | | 19,788 | | | | | | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2017 | | | | 31,662 | | | | | — | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | | 3/1/2016 | | | | | 83,044 | | | | | | | | | | 5.40 | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | Mark Newman | | | 3/1/2016 | | | | 166,089 | | | | | — | | | | | 5.40 | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||
| | | | 2/4/2015 | | | | | 19,640 | | | | | | | | | | 18.45 | | | | | 2/3/2022 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2022 | | | | — | | | | | 65,722 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 6,254 | | | | | 191,497 | | | | | 31,274 | | | | | 957,610 | | | |||||||||||||||||||
Edwin Sparks | | | | 12/1/2020 | | | | | | | | | | | | | | | | | | | | | | | | | 39,510 | | | | | 979,453 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 3/2/2020 | | | | | | | | | | 85,561 | | | | | 14.43 | | | | | 3/2/2030 | | | | | 34,650 | | | | | 858,974 | | | | | 83,160 | | | | | 2,061,536 | | | | 3/1/2021 | | | | 16,360 | | | | | 32,719 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 3,331 | | | | | 101,995 | | | | | 62,473 | | | | | 1,912,908 | | | |||||||||||||||||||
| | | | 6/3/2019 | | | | | | | | | | 17,830 | | | | | 21.96 | | | | | 6/3/2029 | | | | | | | | | | | | | | | 4,098 | | | | | 101,589 | | | | 12/1/2020 | | | | | | | | | | | | | | | | | | | | | | | | 39,510 | | | | | 1,209,796 | | | | | | | | | | | | | |||||||||||||||||||
| | | | 3/1/2019 | | | | | 4,646 | | | | | 9,291 | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | 3,945 | | | | | 97,797 | | | | 3/2/2020 | | | | 71,301 | | | | | 35,650 | | | | | 14.43 | | | | | 3/2/2030 | | | | | 88,981 | | | | | 2,724,604 | | | | | | | | | | | | | |||||||||||||||||||
| | | | 3/1/2018 | | | | | 3,568 | | | | | 1,784 | | | | | 48.53 | | | | | 3/1/2028 | | | | | 578 | | | | | 14,329 | | | | | | | | | | | | | | 6/3/2019 | | | | 17,830 | | | | | — | | | | | 21.96 | | | | | 6/3/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | | | 3/1/2017 | | | | | 4,312 | | | | | | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2019 | | | | 22,299 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| | 3/1/2018 | | | | 4,866 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sameer Ralhan | | | 3/1/2017 | | | | 6,596 | | | | | — | | | | | 34.72 | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4/26/2016 | | | | 80,000 | | | | | — | | | | | 9.43 | | | | | 4/26/2026 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2022 | | | | — | | | | | 44,489 | | | | | 25.98 | | | | | 3/1/2032 | | | | | 4,234 | | | | | 129,645 | | | | | 21,170 | | | | | 648,225 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2021 | | | | — | | | | | 24,539 | | | | | 24.01 | | | | | 3/1/2031 | | | | | 2,498 | | | | | 76,489 | | | | | 46,855 | | | | | 1,434,700 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12/1/2020 | | | | | | | | | | | | | | | | | | | | | | | | 39,510 | | | | | 1,209,796 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/2/2020 | | | | — | | | | | 28,520 | | | | | 14.43 | | | | | 3/2/2030 | | | | | 105,835 | | | | | 3,240,666 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2019 | | | | 13,937 | | | | | — | | | | | 38.02 | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2018 | | | | 5,352 | | | | | — | | | | | 48.53 | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | |
| | | 2023 Proxy Statement | | | 55 | |
| | | | OPTION AWARDS | | | STOCK AWARDS | | |||||||||||||||||||||||||||||||||||||||||||||
| | | | NUMBER OF SECURITIES UNDERLYING UNEXERCISED OPTIONS(1) | | | SHARES OR UNITS OF STOCK THAT HAVE NOT VESTED(2) | | | EQUITY INCENTIVE PLAN AWARDS: UNEARNED SHARES, UNITS OR OTHER RIGHTS THAT HAVE NOT VESTED(3) | | ||||||||||||||||||||||||||||||||||||||||||
| NAME | | | GRANT DATE | | | EXERCISABLE (#) | | | UNEXERCISABLE (#) | | | OPTION EXERCISE PRICE ($) | | | OPTION EXPIRATION DATE | | | NUMBER (#) | | | MARKET VALUE ($) | | | NUMBER (#) | | | MARKET OR PAYOUT VALUE ($) | | ||||||||||||||||||||||||
| Alisha Bellezza | | | 3/1/2022 | | | | | — | | | | | | 22,244 | | | | | | 25.98 | | | | | | 3/1/2032 | | | | | | 21,362 | | | | | | 654,104 | | | | | | 10,585 | | | | | | 324,113 | | |
| 3/1/2021 | | | | | — | | | | | | 10,906 | | | | | | 24.01 | | | | | | 3/1/2031 | | | | | | 1,110 | | | | | | 33,988 | | | | | | 20,823 | | | | | | 637,585 | | | |||
| 9/1/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,601 | | | | | | 140,883 | | | | | | | | | | | | | | | |||
| 3/2/2020 | | | | | — | | | | | | 8,912 | | | | | | 14.43 | | | | | | 3/2/2030 | | | | | | 2,310 | | | | | | 70,732 | | | | | | | | | | | | | | | |||
| 3/1/2019 | | | | | 13,937 | | | | | | — | | | | | | 38.02 | | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 3/1/2018 | | | | | 4,866 | | | | | | — | | | | | | 48.53 | | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 3/1/2017 | | | | | 5,936 | | | | | | — | | | | | | 34.72 | | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| Denise Dignam | | | 3/1/2022 | | | | | — | | | | | | 22,244 | | | | | | 25.98 | | | | | | 3/1/2032 | | | | | | 2,117 | | | | | | 64,823 | | | | | | 10,585 | | | | | | 324,113 | | |
| 3/1/2021 | | | | | 6,135 | | | | | | 12,269 | | | | | | 24.01 | | | | | | 3/1/2031 | | | | | | 1,249 | | | | | | 38,244 | | | | | | 23,428 | | | | | | 717,350 | | | |||
| 3/2/2020 | | | | | 5,570 | | | | | | 5,570 | | | | | | 14.43 | | | | | | 3/2/2030 | | | | | | 1,444 | | | | | | 44,215 | | | | | | | | | | | | | | | |||
| 3/1/2019 | | | | | 3,832 | | | | | | — | | | | | | 38.02 | | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 3/1/2018 | | | | | 2,068 | | | | | | — | | | | | | 48.53 | | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 3/1/2017 | | | | | 2,473 | | | | | | — | | | | | | 34.72 | | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| David Shelton | | | 3/1/2022 | | | | | — | | | | | | 38,422 | | | | | | 25.98 | | | | | | 3/1/2032 | | | | | | 3,656 | | | | | | 111,947 | | | | | | 18,283 | | | | | | 559,825 | | |
| 3/1/2021 | | | | | 12,952 | | | | | | 25,902 | | | | | | 24.01 | | | | | | 3/1/2031 | | | | | | 16,519 | | | | | | 505,812 | | | | | | 49,458 | | | | | | 1,514,389 | | | |||
| 3/2/2020 | | | | | — | | | | | | 33,868 | | | | | | 14.43 | | | | | | 3/2/2030 | | | | | | 84,532 | | | | | | 2,588,374 | | | | | | | | | | | | | | | |||
| 3/1/2019 | | | | | 26,480 | | | | | | — | | | | | | 38.02 | | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 3/1/2018 | | | | | 16,545 | | | | | | — | | | | | | 48.53 | | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 3/1/2017 | | | | | 19,788 | | | | | | — | | | | | | 34.72 | | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | |
GRANT DATE | | | | ||
3/ | | | Vests in equal installments on | | |
| 7/1/2021 | | | Vests in equal installments on March 1, 2023, and 2024 | |
| 3/1/2021 | | | Vests in equal installments on March 1, 2023, and 2024 | |
| 3/2/2020 | | | Vests in equal installments on March 2, | |
| | ||||
| | |
GRANT DATE | | | | ||
| 3/1/2022 | | | Vests in equal installments on March 1, 2023, 2024 and 2025 | |
| 7/1/2021 | | | Vests in equal installments on March 1, 2023, and 2024 | |
| 3/1/2021 | | | Vests in equal installments on March 1, 2023, and 2024 | |
| 12/1/2020 | | | RSUs with vesting date of December 1, 2023 | |
| 3/2/2020 | | | RSUs with vesting date of March 2, 2023 | |
| 3/ | | | PSUs | |
GRANT DATE | | | | ||
| 3/ | | | Performance period ending December 31, | |
| 3/1/2021 and 7/1/2021 | | | Performance period ending December 31, 2023. The number of PSUs reported is based on achievement of maximum | |
|
| | | Option Awards(1) | | | Stock Awards(2) | | ||||||||||||||||||
Name | | | Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise ($) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting ($) | | ||||||||||||
Mark Vergnano | | | | | 374,151 | | | | | | 2,721,790 | | | | | | 13,142 | | | | | | 325,799 | | |
Mark Newman | | | | | | | | | | | | | | | | | 26,239 | | | | | | 508,249 | | |
Sameer Ralhan | | | | | | | | | | | | | | | | | 5,467 | | | | | | 105,896 | | |
David Shelton | | | | | | | | | | | | | | | | | 16,399 | | | | | | 317,649 | | |
Edwin Sparks | | | | | 2,728 | | | | | | 13,836 | | | | | | 697 | | | | | | 10,253 | | |
| | | | OPTION AWARDS(1) | | | STOCK AWARDS(2) | | ||||||||||||||||||
| NAME | | | NUMBER OF SHARES ACQUIRED ON EXERCISE (#) | | | VALUE REALIZED ON EXERCISE ($) | | | NUMBER OF SHARES ACQUIRED ON VESTING (#) | | | VALUE REALIZED ON VESTING ($) | | ||||||||||||
| Mark Newman | | | | | 197,161 | | | | | | 4,768,232 | | | | | | 22,940 | | | | | | 674,254 | | |
| Sameer Ralhan | | | | | 55,363 | | | | | | 1,920,912 | | | | | | 13,568 | | | | | | 400,182 | | |
| Edwin Sparks | | | | | 62,932 | | | | | | 1,319,809 | | | | | | 10,434 | | | | | | 307,866 | | |
| Alisha Bellezza | | | | | 14,365 | | | | | | 321,975 | | | | | | 5,104 | | | | | | 135,154 | | |
| Denise Dignam | | | | | | | | | | | | | | | | | 9,732 | | | | | | 284,491 | | |
| David Shelton | | | | | 150,780 | | | | | | 4,604,260 | | | | | | 17,025 | | | | | | 476,787 | | |
| | | 2023 Proxy Statement | | | 57 | |
Name | | | Executive Contributions in Last Fiscal Year ($)(1) | | | Registrant Contribution in Last Fiscal Year ($)(2) | | | Aggregate Earning in Last Fiscal Year ($)(3) | | | Aggregate Withdrawals / Distributions In Last Fiscal Year ($) | | | Aggregate Balance at Last Fiscal Year-End ($)(4) | | ||||||||||||
Mark Vergnano | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
RSRP | | | | | 108,737 | | | | | | 108,737 | | | | | | 28,751 | | | | | | | | | 1,540,838 | | |
MDCP | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Mark Newman | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
RSRP | | | | | 52,846 | | | | | | 61,853 | | | | | | 38,818 | | | | | | | | | 585,950 | | |
MDCP | | | | | 114,018 | | | | | | | | | | | | 54,608 | | | | | | | | | 888,405 | | |
Sameer Ralhan | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
RSRP | | | | | 34,200 | | | | | | 40,665 | | | | | | 55,937 | | | | | | | | | 386,090 | | |
MDCP | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
David Shelton | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
RSRP | | | | | 15,961 | | | | | | 15,961 | | | | | | 69,745 | | | | | | | | | 525,054 | | |
MDCP | | | | | 112,011 | | | | | | | | | | | | 39,144 | | | | | | | | | 374,257 | | |
Edwin Sparks | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
RSRP | | | | | 29,836 | | | | | | 31,976 | | | | | | 25,984 | | | | | | | | | 224,772 | | |
MDCP | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| NAME | | | EXECUTIVE CONTRIBUTIONS IN LAST FISCAL YEAR ($)(1) | | | REGISTRANT CONTRIBUTION IN LAST FISCAL YEAR ($)(2) | | | AGGREGATE EARNING IN LAST FISCAL YEAR ($)(3) | | | AGGREGATE WITHDRAWALS / DISTRIBUTIONS IN LAST FISCAL YEAR ($) | | | AGGREGATE BALANCE AT LAST FISCAL YEAR-END ($) | | |||||||||||||||
| Mark Newman | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| RSRP | | | | | 111,464 | | | | | | 111,464 | | | | | | -111,899 | | | | | | | | | | | | 889,187 | | |
| MDCP | | | | | | | | | | | | | | | | | -80,322 | | | | | | -25,047 | | | | | | 823,204 | | |
| Sameer Ralhan | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| RSRP | | | | | 39,265 | | | | | | 39,265 | | | | | | -109,449 | | | | | | | | | | | | 524,175 | | |
| Edwin Sparks | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| RSRP | | | | | 44,197 | | | | | | 44,197 | | | | | | -59,284 | | | | | | | | | | | | 364,758 | | |
| Alisha Bellezza | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| RSRP | | | | | 55,098 | | | | | | 55,098 | | | | | | -22,440 | | | | | | | | | | | | 141,539 | | |
| Denise Dignam | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| RSRP | | | | | 49,825 | | | | | | 49,825 | | | | | | -9,759 | | | | | | | | | | | | 93,862 | | |
| David Shelton | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| RSRP | | | | | 41,548 | | | | | | 41,548 | | | | | | -114,406 | | | | | | | | | | | | 646,596 | | |
| MDCP | | | | | | | | | | | | | | | | | -79,688 | | | | | | | | | | | | 606,883 | | |
| | | | RSRP | | | MDCP | | | TOTAL | | |||||||||
| Mark Newman | | | | | 734,866 | | | | | | 928,573 | | | | | | 1,663,439 | | |
| Sameer Ralhan | | | | | 522,199 | | | | | | — | | | | | | 552,199 | | |
| Edwin Sparks | | | | | 309,782 | | | | | | — | | | | | | 309,782 | | |
| David Shelton | | | | | 667,421 | | | | | | 549,072 | | | | | | 1,216,493 | | |
| | | 2023 Proxy Statement | | | 58 | |
Name | | | RSRP ($) | | | MDCP ($) | | | Total ($) | | |||||||||
Mark Vergnano | | | | | 1,232,253 | | | | | | — | | | | | | 1,232,253 | | |
Mark Newman | | | | | 373,892 | | | | | | 659,087 | | | | | | 1,032,979 | | |
Sameer Ralhan | | | | | 39,522 | | | | | | — | | | | | | 39,522 | | |
David Shelton | | | | | 296,948 | | | | | | — | | | | | | 296,948 | | |
Edwin Sparks | | | | | 52,713 | | | | | | — | | | | | | 52,713 | | |
| | | 2023 Proxy Statement | | | 59 | |
Name | | | Form of Compensation(1) | | | Voluntary or For Cause ($)(2) | | | Involuntary Termination without Cause ($)(2) | | | Retirement ($)(5) | | | Death ($)(6) | | | Disability ($)(4) | | | Change in Control | | |||||||||||||||
Mark Vergnano | | | Annual Salary | | | | | | | | 525,000 | | | | | | | | | | | | | | | | | | | | | | | | 3,150,000 | | |
| | | Target Annual Bonus | | | | | | | | 1,365,000 | | | | | | | | | | | | | | | | | | | | | | | | 4,095,000 | | |
| | | Target Annual Bonus (pro-rated) | | | | | | | | | | | | | | | | | | | | 1,365,000 | | | | | | 1,365,000 | | | | | | 1,365,000 | | |
| | | Health and Dental Benefits | | | | | | | | 3,949 | | | | | | | | | | | | | | | | | | | | | | | | 47,390 | | |
| | | Outplacement Services | | | | | | | | 2,150 | | | | | | | | | | | | | | | | | | | | | | | | 12,900 | | |
| | | Stock Options | | | | | | | | 6,204,915 | | | | | | 6,204,915 | | | | | | 6,204,915 | | | | | | 6,204,915 | | | | | | 6,204,915 | | |
| | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PSUs | | | | | | | | 5,540,515 | | | | | | 5,540,515 | | | | | | 5,540,515 | | | | | | 5,540,515 | | | | | | 7,963,093 | | |
Total | | | | | | | | | | | 13,641,529 | | | | | | 11,745,430 | | | | | | 13,110,430 | | | | | | 13,110,430 | | | | | | 22,838,298 | | |
Mark Newman | | | Annual Salary | | | | | | | | 83,013 | | | | | | | | | | | | | | | | | | | | | | | | 1,400,000 | | |
| | | Target Annual Bonus | | | | | | | | 630,000 | | | | | | | | | | | | | | | | | | | | | | | | 1,260,000 | | |
| | | Target Annual Bonus (pro-rated) | | | | | | | | | | | | | | | | | | | | 630,000 | | | | | | 630,000 | | | | | | 630,000 | | |
| | | Health and Dental Benefits | | | | | | | | 3,949 | | | | | | | | | | | | | | | | | | | | | | | | 31,594 | | |
| | | Outplacement Services | | | | | | | | 2,150 | | | | | | | | | | | | | | | | | | | | | | | | 8,600 | | |
| | | Stock Options | | | | | | | | | | | | | | | | | | | | 1,746,123 | | | | | | 1,746,123 | | | | | | 1,746,123 | | |
| | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PSUs | | | | | | | | | | | | | | | | | | | | 1,633,395 | | | | | | 1,633,395 | | | | | | 2,761,185 | | |
Total | | | | | | | | 719,112 | | | | | | | | | | | | 4,009,518 | | | | | | 4,009,518 | | | | | | 7,837,502 | | | |||
Sameer Ralhan | | | Annual Salary | | | | | | | | 74,639 | | | | | | | | | | | | | | | | | | | | | | | | 1,150,000 | | |
| | | Target Annual Bonus | | | | | | | | 460,000 | | | | | | | | | | | | | | | | | | | | | | | | 920,000 | | |
| | | Target Annual Bonus (pro-rated) | | | | | | | | | | | | | | | | | | | | 460,000 | | | | | | 460,000 | | | | | | 460,000 | | |
| | | Health and Dental Benefits | | | | | | | | 5,790 | | | | | | | | | | | | | | | | | | | | | | | | 46,323 | | |
| | | Outplacement Services | | | | | | | | 2,150 | | | | | | | | | | | | | | | | | | | | | | | | 8,600 | | |
| | | Stock Options | | | | | | | | | | | | | | | | | | | | 1,158,471 | | | | | | 1,158,471 | | | | | | 1,158,471 | | |
| | | RSUs | | | | | | | | | | | | | | | | | | | | 979,453 | | | | | | 979,453 | | | | | | 979,453 | | |
| | | PSUs | | | | | | | | | | | | | | | | | | | | 1,044,043 | | | | | | 1,044,043 | | | | | | 1,623,522 | | |
Total | | | | | | | | | | | 542,579 | | | | | | | | | | | | 3,641,967 | | | | | | 3,641,967 | | | | | | 6,346,369 | | |
David Shelton | | | Annual Salary | | | | | | | | 240,385 | | | | | | | | | | | | | | | | | | | | | | | | 1,000,000 | | |
| | | Target Annual Bonus | | | | | | | | 350,000 | | | | | | | | | | | | | | | | | | | | | | | | 700,000 | | |
| | | Target Annual Bonus (pro-rated) | | | | | | | | | | | | | | | | | | | | 350,000 | | | | | | 350,000 | | | | | | 350,000 | | |
| | | Health and Dental Benefits | | | | | | | | 1,712 | | | | | | | | | | | | | | | | | | | | | | | | 13,696 | | |
| | | Outplacement Services | | | | | | | | 2,150 | | | | | | | | | | | | | | | | | | | | | | | | 8,600 | | |
| | | Stock Options | | | | | | | | | | | | | | | | | | | | 1,052,617 | | | | | | 1,052,617 | | | | | | 1,052,617 | | |
| | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PSUs | | | | | | | | | | | | | | | | | | | | 984,197 | | | | | | 984,197 | | | | | | 1,611,400 | | |
Total | | | | | | | | 594,247 | | | | | | | | | | | | 2,386,814 | | | | | | 2,386,814 | | | | | | 4,736,313 | | | |||
Edwin Sparks | | | Annual Salary | | | | | | | | 275,000 | | | | | | | | | | | | | | | | | | | | | | | | 1,100,000 | | |
| | | Target Annual Bonus | | | | | | | | 412,500 | | | | | | | | | | | | | | | | | | | | | | | | 825,000 | | |
| | | Target Annual Bonus (pro-rated) | | | | | | | | | | | | | | | | | | | | 412,500 | | | | | | 412,500 | | | | | | 412,500 | | |
| | | Health and Dental Benefits | | | | | | | | 1,587 | | | | | | | | | | | | | | | | | | | | | | | | 12,699 | | |
| | | Outplacement Services | | | | | | | | 2,150 | | | | | | | | | | | | | | | | | | | | | | | | 8,600 | | |
| | | Stock Options | | | | | | | | | | | | | | | | | | | | 920,052 | | | | | | 920,052 | | | | | | 920,052 | | |
| | | RSUs | | | | | | | | | | | | | | | | | | | | 1,838,426 | | | | | | 1,838,426 | | | | | | 1,838,426 | | |
| | | PSUs | | | | | | | | | | | | | | | | | | | | 834,431 | | | | | | 834,431 | | | | | | 1,307,673 | | |
Total | | | | | | | | | | | 691,237 | | | | | | | | | | | | 4,005,409 | | | | | | 4,005,409 | | | | | | 6,424,950 | | |
| | | 2023 Proxy Statement | | | 60 | |
| NAME | | | FORM OF COMPENSATION(1) | | | VOLUNTARY OR FOR CAUSE ($) | | | INVOLUNTARY TERMINATION WITHOUT CAUSE ($)(2) | | | RETIREMENT ($)(3) | | | DEATH ($)(4) | | | DISABILITY ($)(5) | | | CHANGE IN CONTROL WITH ASSUMPTION OR SUBSTITUTION(6) | | | CHANGE IN CONTROL WITHOUT ASSUMPTION OR SUBSTITUTION(7) | | | TERMINATION WITHOUT CAUSE OR RESIGNATION FOR GOOD REASON IN CONNECTION WITH CHANGE IN CONTROL(8) | | ||||||||||||||||||||||||
| Mark Newman | | | Annual Salary | | | | | — | | | | | | 147,436 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,000,000 | | |
| Target Annual Bonus | | | | | — | | | | | | 1,300,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,900,000 | | | |||
| Target Annual Bonus (pro-rated) | | | | | — | | | | | | — | | | | | | — | | | | | | 1,300,000 | | | | | | 1,300,000 | | | | | | — | | | | | | — | | | | | | 1,300,000 | | | |||
| Health and Dental Benefits | | | | | — | | | | | | 5,046 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 60,551 | | | |||
| Outplacement Services | | | | | — | | | | | | 2,150 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 12,900 | | | |||
| Stock Options | | | | | — | | | | | | — | | | | | | — | | | | | | 2,093,202 | | | | | | 2,093,202 | | | | | | — | | | | | | 2,093,202 | | | | | | 2,093,202 | | | |||
| RSUs | | | | | — | | | | | | — | | | | | | — | | | | | | 809,164 | | | | | | 809,164 | | | | | | — | | | | | | 809,164 | | | | | | 809,164 | | | |||
| PSUs | | | | | — | | | | | | — | | | | | | — | | | | | | 3,947,349 | | | | | | 3,947,349 | | | | | | — | | | | | | 3,947,349 | | | | | | 6,476,069 | | | |||
| Total | | | | | — | | | | | | 1,454,632 | | | | | | — | | | | | | 8,149,715 | | | | | | 8,149,715 | | | | | | — | | | | | | 6,849,715 | | | | | | 17,651,886 | | | |||
| Sameer Ralhan | | | Annual Salary | | | | | — | | | | | | 99,159 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,250,000 | | |
| Target Annual Bonus | | | | | — | | | | | | 500,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,000,000 | | | |||
| Target Annual Bonus (pro-rated) | | | | | — | | | | | | — | | | | | | — | | | | | | 500,000 | | | | | | 500,000 | | | | | | — | | | | | | — | | | | | | 500,000 | | | |||
| Health and Dental Benefits | | | | | — | | | | | | 7,425 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 59,398 | | | |||
| Outplacement Services | | | | | — | | | | | | 2,150 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,600 | | | |||
| Stock Options | | | | | — | | | | | | — | | | | | | — | | | | | | 1,098,396 | | | | | | 1,098,396 | | | | | | — | | | | | | 1,098,396 | | | | | | 1,098,396 | | | |||
| RSUs | | | | | — | | | | | | — | | | | | | — | | | | | | 1,503,289 | | | | | | 1,503,289 | | | | | | — | | | | | | 1,503,289 | | | | | | 1,503,289 | | | |||
| PSUs | | | | | — | | | | | | — | | | | | | — | | | | | | 2,101,850 | | | | | | 2,101,850 | | | | | | — | | | | | | 2,101,850 | | | | | | 2,995,953 | | | |||
| Total | | | | | — | | | | | | 608,734 | | | | | | — | | | | | | 5,203,535 | | | | | | 5,203,535 | | | | | | — | | | | | | 4,703,535 | | | | | | 8,415,636 | | | |||
| Edwin Sparks | | | Annual Salary | | | | | — | | | | | | 287,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,150,000 | | |
| Target Annual Bonus | | | | | — | | | | | | 431,250 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 862,500 | | | |||
| Target Annual Bonus (pro-rated) | | | | | — | | | | | | — | | | | | | — | | | | | | 431,250 | | | | | | 431,250 | | | | | | — | | | | | | — | | | | | | 431,250 | | | |||
| Health and Dental Benefits | | | | | — | | | | | | 2,022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 16,180 | | | |||
| Outplacement Services | | | | | — | | | | | | 2,150 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,600 | | | |||
| Stock Options | | | | | — | | | | | | — | | | | | | — | | | | | | 830,371 | | | | | | 830,371 | | | | | | — | | | | | | 830,371 | | | | | | 830,371 | | | |||
| RSUs | | | | | — | | | | | | — | | | | | | — | | | | | | 2,476,913 | | | | | | 2,476,913 | | | | | | — | | | | | | 2,476,913 | | | | | | 2,476,913 | | | |||
| PSUs | | | | | — | | | | | | — | | | | | | — | | | | | | 1,614,870 | | | | | | 1,614,870 | | | | | | — | | | | | | 1,614,870 | | | | | | 2,240,649 | | | |||
| Total | | | | | — | | | | | | 722,922 | | | | | | — | | | | | | 5,353,404 | | | | | | 5,353,404 | | | | | | — | | | | | | 4,922,154 | | | | | | 8,016,463 | | |
| | | 2023 Proxy Statement | | | 61 | |
| NAME | | | FORM OF COMPENSATION(1) | | | VOLUNTARY OR FOR CAUSE ($) | | | INVOLUNTARY TERMINATION WITHOUT CAUSE ($)(2) | | | RETIREMENT ($)(3) | | | DEATH ($)(4) | | | DISABILITY ($)(5) | | | CHANGE IN CONTROL WITH ASSUMPTION OR SUBSTITUTION(6) | | | CHANGE IN CONTROL WITHOUT ASSUMPTION OR SUBSTITUTION(7) | | | TERMINATION WITHOUT CAUSE OR RESIGNATION FOR GOOD REASON IN CONNECTION WITH CHANGE IN CONTROL(8) | | ||||||||||||||||||||||||
| Alisha Bellezza | | | Annual Salary | | | | | — | | | | | | 64,087 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 930,000 | | |
| Target Annual Bonus | | | | | — | | | | | | 348,750 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 697,500 | | | |||
| Target Annual Bonus (pro-rated) | | | | | — | | | | | | — | | | | | | — | | | | | | 348,750 | | | | | | 348,750 | | | | | | — | | | | | | — | | | | | | 348,750 | | | |||
| Health and Dental Benefits | | | | | — | | | | | | 6,839 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 54,712 | | | |||
| Outplacement Services | | | | | — | | | | | | 2,150 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,600 | | | |||
| Stock Options | | | | | — | | | | | | — | | | | | | — | | | | | | 319,586 | | | | | | 319,586 | | | | | | — | | | | | | 319,586 | | | | | | 319,586 | | | |||
| RSUs | | | | | — | | | | | | — | | | | | | — | | | | | | 899,707 | | | | | | 899,707 | | | | | | — | | | | | | 899,707 | | | | | | 899,707 | | | |||
| PSUs | | | | | — | | | | | | — | | | | | | — | | | | | | 276,902 | | | | | | 276,902 | | | | | | — | | | | | | 276,902 | | | | | | 579,147 | | | |||
| Total | | | | | — | | | | | | 421,826 | | | | | | — | | | | | | 1,844,945 | | | | | | 1,844,945 | | | | | | — | | | | | | 1,496,195 | | | | | | 3,838,002 | | | |||
| Denise Dignam | | | Annual Salary | | | | | — | | | | | | 232,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 930,000 | | |
| Target Annual Bonus | | | | | — | | | | | | 348,750 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 697,500 | | | |||
| Target Annual Bonus (pro-rated) | | | | | — | | | | | | — | | | | | | — | | | | | | 348,750 | | | | | | 348,750 | | | | | | — | | | | | | — | | | | | | 348,750 | | | |||
| Health and Dental Benefits | | | | | — | | | | | | 4,761 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 38,091 | | | |||
| Outplacement Services | | | | | — | | | | | | 2,150 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,600 | | | |||
| Stock Options | | | | | — | | | | | | — | | | | | | — | | | | | | 274,489 | | | | | | 274,489 | | | | | | — | | | | | | 274,489 | | | | | | 274,489 | | | |||
| RSUs | | | | | — | | | | | | — | | | | | | — | | | | | | 147,282 | | | | | | 147,282 | | | | | | — | | | | | | 147,282 | | | | | | 147,282 | | | |||
| PSUs | | | | | — | | | | | | — | | | | | | — | | | | | | 298,163 | | | | | | 298,163 | | | | | | — | | | | | | 298,163 | | | | | | 611,053 | | | |||
| Total | | | | | — | | | | | | 588,161 | | | | | | — | | | | | | 1,068,684 | | | | | | 1,068,684 | | | | | | — | | | | | | 719,934 | | | | | | 3,055,765 | | | |||
| David Shelton | | | Annual Salary | | | | | — | | | | | | 250,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,000,000 | | |
| Target Annual Bonus | | | | | — | | | | | | 350,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 700,000 | | | |||
| Target Annual Bonus (pro-rated) | | | | | — | | | | | | — | | | | | | — | | | | | | 350,000 | | | | | | 350,000 | | | | | | — | | | | | | — | | | | | | 350,000 | | | |||
| Health and Dental Benefits | | | | | — | | | | | | 2,012 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 16,094 | | | |||
| Outplacement Services | | | | | — | | | | | | 2,150 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,600 | | | |||
| Stock Options | | | | | — | | | | | | — | | | | | | — | | | | | | 897,813 | | | | | | 897,813 | | | | | | — | | | | | | 897,813 | | | | | | 897,813 | | | |||
| RSUs | | | | | — | | | | | | — | | | | | | — | | | | | | 617,759 | | | | | | 617,759 | | | | | | — | | | | | | 617,759 | | | | | | 617,759 | | | |||
| PSUs | | | | | — | | | | | | — | | | | | | — | | | | | | 1,797,915 | | | | | | 1,797,915 | | | | | | — | | | | | | 1,797,915 | | | | | | 2,375,102 | | | |||
| Total | | | | | — | | | | | | 604,162 | | | | | | — | | | | | | 3,663,487 | | | | | | 3,663,487 | | | | | | — | | | | | | 3,313,487 | | | | | | 5,965,368 | | |
| | | 2023 Proxy Statement | | | 62 | |
| | | 2023 Proxy Statement | | | 63 | |
| | | 2023 Proxy Statement | | | 64 | |
| ELEMENT | | | MEDIAN EMPLOYEE $ | | | | | | | | | CEO $ | | ||||||
| Salary (includes Overtime)(1) | | | | | 99,364 | | | | | | | | | | | | 995,833 | | |
| Stock Awards | | | | | 0 | | | | | | | | | | | | 3,464,363 | | |
| Option Awards | | | | | 0 | | | | | | | | | | | | 2,039,991 | | |
| Non-Equity Incentive Plan Compensation/Bonus(2) | | | | | 2,528 | | | | | | | | | | | | 1,024,400 | | |
| Change in Pension Value | | | | | 0 | | | | | | | | | | | | 0 | | |
| All Other Compensation(3) | | | | | 6,264 | | | | | | | | | | | | 145,764 | | |
| Summary Compensation Table Totals | | | | | 108,156 | | | | | | | | | | | | 7,670,351 | | |
| CEO Pay Ratio | | | | | | | | | | | 71:1 | | | | | | | | |
| | | 2023 Proxy Statement | | | 65 | |
| Year | | | Summary Compensation Table Total for First PEO(1) | | | Compensation Actually Paid to First PEO(2) | | | Summary Compensation Table Total for Second PEO(3) | | | Compensation Actually Paid to Second PEO(4) | | | Average Summary Compensation Table Total for Non-PEO NEOs(5) | | | Average Compensation Actually Paid to Non-PEO NEOs(6) | | | Value of Initial Fixed $100 Investment Based On: | | | Net Income (millions)(9) | | | Free Cash Flow (millions)(10) | | |||||||||||||||||||||||||||||||||
| Total Shareholder Return(7) | | | Peer Group Total Shareholder Return(8) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2022 | | | | | — | | | | | | — | | | | | $ | 7,670,351 | | | | | $ | 9,839,552 | | | | | $ | 2,107,360 | | | | | $ | 2,450,210 | | | | | $ | 191.44 | | | | | $ | 130.45 | | | | | $ | 578 | | | | | $ | 447 | | |
| 2021 | | | | $ | 9,012,886 | | | | | $ | 25,427,573 | | | | | $ | 5,706,228 | | | | | $ | 10,425,043 | | | | | $ | 2,359,471 | | | | | $ | 5,383,970 | | | | | $ | 203.63 | | | | | $ | 151.70 | | | | | $ | 608 | | | | | $ | 543 | | |
| 2020 | | | | $ | 8,606,576 | | | | | $ | 16,928,335 | | | | | | — | | | | | | — | | | | | $ | 2,915,198 | | | | | $ | 4,524,555 | | | | | $ | 145.61 | | | | | $ | 119.86 | | | | | $ | 219 | | | | | $ | 540 | | |
| | | 2023 Proxy Statement | | | 66 | |
| | | | PEO 1 | | | PEO 2 | | | NEO Average | | |||||||||||||||||||||||||||||||||||||||||||||
| | | | 2022 | | | 2021 | | | 2020 | | | 2022 | | | 2021 | | | 2020 | | | 2022 | | | 2021 | | | 2020 | | |||||||||||||||||||||||||||
| Summary Compensation Table Total | | | | | — | | | | | $ | 9,012,886 | | | | | $ | 8,606,576 | | | | | $ | 7,670,351 | | | | | $ | 5,706,228 | | | | | | — | | | | | $ | 2,107,360 | | | | | $ | 2,359,471 | | | | | $ | 2,915,198 | | |
| Less: Reported Fair Value of Equity Awards(a) | | | | | — | | | | | $ | 7,056,334 | | | | | $ | 6,231,013 | | | | | $ | 5,504,353 | | | | | $ | 3,039,984 | | | | | | — | | | | | $ | 1,130,702 | | | | | $ | 1,139,675 | | | | | $ | 1,807,220 | | |
| Add: Year-End Fair Value of Equity Awards Granted in the Year(b(i)) | | | | | — | | | | | $ | 10,037,056 | | | | | $ | 14,805,523 | | | | | $ | 7,286,350 | | | | | $ | 3,737,324 | | | | | | — | | | | | $ | 1,482,246 | | | | | $ | 1,697,677 | | | | | $ | 3,537,581 | | |
| Add: Change in Fair Value of Equity Awards Granted in Prior Years and Remain Unvested(b(II)) | | | | | — | | | | | $ | 11,676,849 | | | | | $ | (501,171) | | | | | $ | (231,485) | | | | | $ | 3,508,735 | | | | | | — | | | | | $ | (164,478) | | | | | $ | 2,182,023 | | | | | $ | (157,388) | | |
| Add: Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year(b(III)) | | | | | — | | | | | $ | 144,996 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Add: Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year(b(iv)) | | | | | — | | | | | $ | 507,084 | | | | | $ | (2,653) | | | | | $ | 333,788 | | | | | $ | 184,986 | | | | | | — | | | | | $ | 47,967 | | | | | $ | 77,860 | | | | | $ | (17,955) | | |
| Add: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation(b(v)) | | | | | — | | | | | $ | 1,105,035 | | | | | $ | 251,073 | | | | | $ | 284,902 | | | | | $ | 327,754 | | | | | | — | | | | | $ | 107,817 | | | | | $ | 206,615 | | | | | $ | 54,340 | | |
| Less: Reported Change in the Actuarial Present Value of Pension Benefits(c) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Add: Actuarially determined service cost for services rendered during the fiscal year | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Add: Entire cost of benefits granted in a plan amendment (or initiation) during the applicable year that are attributed by the benefit formula to services rendered in periods prior to the plan amendment or initiation | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| CAP | | | | | — | | | | | $ | 25,427,573 | | | | | $ | 16,928,335 | | | | | $ | 9,839,552 | | | | | $ | 10,425,043 | | | | | | — | | | | | $ | 2,450,210 | | | | | $ | 5,383,970 | | | | | $ | 4,524,555 | | |
| | | 2023 Proxy Statement | | | 67 | |
| | | 2023 Proxy Statement | | | 68 | |
| | | 2023 Proxy Statement | | | 69 | |
| | | 2023 Proxy Statement | | | 70 | |
| Proposal 2 — Advisory Vote to Approve Named Executive Officer Compensation | |
| THE BOARD RECOMMENDS THAT YOU VOTE “FOR” THE APPROVAL, ON AN ADVISORY BASIS, OF THE COMPENSATION OF THE NAMED EXECUTIVE OFFICERS AS DESCRIBED IN THIS PROXY STATEMENT. | |
| | | 2023 Proxy Statement | | | 71 | |
| Proposal 3 — Ratification of Selection of Independent Registered Public Accounting Firm | |
| THE BOARD RECOMMENDS THAT YOU VOTE “FOR” THE PROPOSAL TO RATIFY THE SELECTION OF PRICEWATERHOUSECOOPERS LLP AS INDEPENDENT PUBLIC ACCOUNTING FIRM FOR FISCAL YEAR 2023 | |
| | | 2020 (in thousands) | | | 2019 (in thousands) | | ||||||
Audit fees(1) | | | | $ | 7,133 | | | | | $ | 7,690 | | |
Audit-related fees(2) | | | | | 534 | | | | | | 773 | | |
Tax fees(3) | | | | | 938 | | | | | | 692 | | |
All other fees(4) | | | | | 9 | | | | | | 1,433 | | |
Total | | | | $ | 8,614 | | | | | $ | 10,588 | | |
| | | | 2022 (IN THOUSANDS) | | | 2021 (IN THOUSANDS) | | ||||||
| Audit fees(1) | | | | $ | 7,145 | | | | | $ | 7,012 | | |
| Audit-related fees(2) | | | | | 320 | | | | | | 2,207 | | |
| Tax fees(3) | | | | | 319 | | | | | | 1,549 | | |
| All other fees(4) | | | | | 14 | | | | | | 37 | | |
| Total | | | | $ | 7,798 | | | | | $ | 10,805 | | |
| | | 2023 Proxy Statement | | | 72 | |
| | | 2023 Proxy Statement | | | 73 | |
Name and Principal Position | | | Number of Shares Underlying Options Granted | | | Number of Shares Underlying Other Awards Granted | | ||||||
Mark Vergnano President and Chief Executive Officer | | | | | 1,091,120 | | | | | | 570,812 | | |
Mark E. Newman Senior Vice President, Chief Operating Officer | | | | | 311,086 | | | | | | 148,866 | | |
Sameer Ralhan Senior Vice President, Chief Financial Officer | | | | | 201,025 | | | | | | 134,987 | | |
Edwin Sparks President, Chemical Solutions and Fluoroproducts | | | | | 159,489 | | | | | | 149,400 | | |
David Shelton Senior Vice President, General Counsel and Corporate Secretary | | | | | 183,483 | | | | | | 109,565 | | |
All current executive officers as a group | | | | | 1,946,203 | | | | | | 1,113,630 | | |
All current directors who are not executive officers as a group | | | | | | | | | | | 158,099 | | |
Each nominee for election as a director | | | | | 0 | | | | | | 0 | | |
All current employees, including current officers who are not executive officers, as a group | | | | | 2,533,767 | | | | | | 1,226,548 | | |
Plan Category | | | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights(1) | | | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights(2) | | | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans(3) | | |||||||||
Equity compensation plans approved by security holders | | | | | 9,100 | | | | | $ | 19.21 | | | | | | 10,200 | | |
Equity compensation plans not approved by security holders | | | | | — | | | | | | — | | | | | | — | | |
Total | | | | | 9,100 | | | | | $ | 19.21 | | | | | | 10,200 | | |
|
| | | 2023 Proxy Statement | | | 74 | |
| | | 2023 Proxy Statement | | | 75 | |
| Voting Matter Management Proposals PROPOSAL | | | Board Vote Recommendation | |
| Proposal 1 — Election of Directors | | | FOR EACH NOMINEE | |
| Proposal 2 — Advisory Vote on Executive Compensation | | | FOR | |
| Proposal 3 — Ratification of Independent Registered Public Accounting Firm | | | FOR | |
| | | 2023 Proxy Statement | | | 76 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | ||||
| | INTERNET | | | | | | | | | | | | | | | TELEPHONE | | | | | | | | DURING THE MEETING | | | |
| | Visit www.AALVote.com/CC. Have your proxy card available when you access the above website. Follow the prompts to vote your shares by Internet until 11:59 p.m., Eastern Time, on April 25, 2023. | | | | | | | | Mark, sign, and date your proxy card, then detach it, and return it in the postage-paid envelope provided. | | | | | | | | Use any touch-tone telephone to vote your proxy. Call 1 866-804-9616 Have your proxy card available when you call. Follow the voting instructions to vote your shares. | | | | | | | | If you wish to vote your shares electronically during the virtual Annual Meeting, go to www.AALvote.com/CC during the Annual Meeting while the polls are open. You will need the control number on your Notice, or the proxy card mailed to you, as applicable | | |
| | | 2023 Proxy Statement | | | 77 | |
| | | | | ALLOWED? | | ||
| | | Majority of Votes Cast | | | No | | |
| Advisory Approval of Executive Compensation | | | Majority of Votes Represented and Entitled to Vote | | | No | |
| Ratification of PwC LLP | | | Majority of Votes Represented and Entitled to Vote | | | Yes | |
| | | 2023 Proxy Statement | | | 78 | |
| | | 2023 Proxy Statement | | | 79 | |
| | | 2023 Proxy Statement | | | 80 | |
| | | 2023 Proxy Statement | | | 81 | |