| QUANEX BUILDING PRODUCTS CORPORATION | | | January 25, | |
| 1800 West Loop South Suite 1500 Houston, Texas 77027 (713) 961-4600 | | | Dear Fellow Stockholder: | |
| You are cordially invited to attend the | | |||
| | | | This year you will be asked to vote in favor of the election of nine directors, in favor of an advisory vote approving the Company’s named executive officer compensation, and in favor of a resolution ratifying the Company’s appointment of its independent auditor for the | |
| | | | THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE IN FAVOR OF EACH PROPOSAL OUTLINED IN THE ATTACHED | |
| | | | Thank you for your continued support. | |
| | | | Sincerely, | |
| | | | | |
| | | | William C. Griffiths Chairman of the Board | |
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| Nominees for election to a term that will expire at the 2023 Annual Meeting | | Principal Occupation | | Age | | Director Since | | Nominees for election to a term that will expire at the 2024 Annual Meeting | | Principal Occupation | | Age | | Director Since | | ||||||
| Susan F. Davis | | Retired Executive Vice President — Asia Pacific of Johnson Controls, Inc., a global leader in automotive systems, building efficiency and power solutions (Milwaukee, Wisconsin). | | 68 | | 2007 | | Susan F. Davis | | Retired Executive Vice President — Asia Pacific of Johnson Controls, Inc. (Milwaukee, Wisconsin). | | 69 | | 2007 | | ||||||
| William C. Griffiths | | Executive Chairman of the Board, Quanex Building Products Corporation (Houston, Texas). | | 70 | | 2009 | | William C. Griffiths | | Chairman of the Board, Quanex Building Products Corporation (Houston, Texas). | | 71 | | 2009 | | ||||||
| Bradley E. Hughes | | Retired President and Chief Executive Officer of Cooper Tire & Rubber Co. (Findlay, Ohio). | | 60 | | N/A | | Bradley E. Hughes | | Retired President and Chief Executive Officer of Cooper Tire & Rubber Co. (Findlay, Ohio). | | 60 | | 2022 | | ||||||
| Jason D. Lippert | | Chief Executive Officer of LCI Industries (Elkhart, Indiana). | | 49 | | 2021 | | Jason D. Lippert | | Chief Executive Officer of LCI Industries (Elkhart, Indiana). | | 50 | | 2021 | | ||||||
| Donald R. Maier | | Executive Consultant to Alto Pharmacy, an online pharmacy service company (San Francisco, California). | | 57 | | 2019 | | Donald R. Maier | | Executive Services Consultant to Chobani, Inc. (New Berlin, New York). | | 58 | | 2019 | | ||||||
| Meredith W. Mendes | | Chief Operating Officer and Partner of Gresham Partners, LLC, a wealth management firm (Chicago, Illinois). | | 63 | | 2019 | | Meredith W. Mendes | | Chief Executive Officer of Matthew Pritzker Company (Chicago, Illinois). | | 64 | | 2019 | | ||||||
| Curtis M. Stevens | | Retired Chief Executive Officer of Louisiana-Pacific Corporation, a leading building materials manufacturer (Nashville, Tennessee). | | 69 | | 2010 | | Curtis M. Stevens | | Retired Chief Executive Officer of Louisiana-Pacific Corporation (Nashville, Tennessee). | | 70 | | 2010 | | ||||||
| William E. Waltz, Jr. | | President and Chief Executive Officer of Atkore, Inc. (Harvey, Illinois). | | 57 | | 2020 | | William E. Waltz, Jr. | | President and Chief Executive Officer of Atkore, Inc. (Harvey, Illinois). | | 58 | | 2020 | | ||||||
| George L. Wilson | | President and Chief Executive Officer, Quanex Building Products Corporation (Houston, Texas). | | 53 | | 2020 | | George L. Wilson | | President and Chief Executive Officer, Quanex Building Products Corporation (Houston, Texas). | | 54 | | 2020 | |
| Name and Age | | | Office and Length of Service | |
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George L. Wilson, | | | President and Chief Executive Officer effective January 1, 2020 | | |
| Scott M. Zuehlke, | | | Senior Vice President | |
| Paul B. Cornett, | | | Senior Vice President | |
| Mark A. Livingston, | | | Vice President | |
| Kimberley N. Garcia, 44 | | | Vice President — Chief Human Resources Officer effective November 1, 2021 | |
| Name | | Fees Earned or Paid in Cash(1) ($) | | Restricted Stock Unit Awards(2) ($) | | Option Awards(2) ($) | | Change in Pension Value & Nonqualified Deferred Compensation Earnings(3) ($) | | All Other Compensation(4) ($) | | Total ($) | | Name | | Fees Earned or Paid in Cash(1) ($) | | Restricted Stock Unit Awards(2) ($) | | Option Awards(2) ($) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings(3) ($) | | All Other Compensation(4) ($) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||
| Robert R. Buck(5) | | | | 35,750 | | | | | 77,377 | | | | | — | | | | | — | | | | | 4,692 | | | | | 117,819 | | | Susan F. Davis | | | | 104,277 | | | | | 108,124 | | | | | — | | | | | — | | | | | 20,713 | | | | | 233,114 | | | ||||||||||||
| Susan F. Davis | | | | 77,500 | | | | | 77,377 | | | | | — | | | | | — | | | | | 19,080 | | | | | 173,957 | | | William C. Griffiths(5) | | | | 66,433 | | | | | — | | | | | — | | | | | — | | | | | 1,905 | | | | | 68,338 | | | ||||||||||||
| Donald R. Maier | | | | 77,256 | | | | | 77,377 | | | | | — | | | | | — | | | | | 3,675 | | | | | 158,308 | | | Bradley E. Hughes | | | | 53,312 | | | | | 69,062 | | | | | — | | | | | — | | | | | 1,060 | | | | | 123,434 | | | ||||||||||||
| Meredith W. Mendes | | | | 75,500 | | | | | 77,377 | | | | | — | | | | | — | | | | | 2,787 | | | | | 155,664 | | | Jason D. Lippert | | | | 78,750 | | | | | 108,124 | | | | | — | | | | | — | | | | | 2,213 | | | | | 189,087 | | | ||||||||||||
| Joseph D. Rupp | | | | 94,375 | | | | | 77,377 | | | | | — | | | | | — | | | | | 11,993 | | | | | 183,745 | | | Donald R. Maier | | | | 90,520 | | | | | 108,124 | | | | | — | | | | | — | | | | | 5,210 | | | | | 203,854 | | | ||||||||||||
| Curtis M. Stevens | | | | 82,500 | | | | | 77,377 | | | | | — | | | | | — | | | | | 14,289 | | | | | 174,166 | | | Meredith W. Mendes | | | | 87,500 | | | | | 108,124 | | | | | — | | | | | — | | | | | 4,322 | | | | | 199,946 | | | ||||||||||||
| William E. Waltz Jr. | | | | 74,619 | | | | | 77,377 | | | | | — | | | | | — | | | | | 2,037 | | | | | 154,033 | | | Joseph D. Rupp(6) | | | | 44,827 | | | | | 108,124 | | | | | — | | | | | — | | | | | — | | | | | 152,951 | | | ||||||||||||
| Curtis M. Stevens | | | | 97,500 | | | | | 108,124 | | | | | — | | | | | — | | | | | 14,097 | | | | | 219,721 | | | ||||||||||||||||||||||||||||||||||||||||||||
| William E. Waltz Jr. | | | | 87,500 | | | | | 108,124 | | | | | — | | | | | — | | | | | 4,782 | | | | | 200,406 | | |
| | | | Restricted Stock Units | | Stock Options | | | | | | | Restricted Stock Units | | Stock Options | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2021 Grants | | | Total Units Outstanding as of October 31, 2021 (#) | | | 2021 Grants | | | Total Stock Options Outstanding as of October 31, 2021 (#) | | | | | | 2022 Grants | | | Total Units Outstanding as of October 31, 2022 (#) | | | 2022 Grants | | | Total Stock Options Outstanding as of October 31, 2022 (#) | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Grant Date | | Grant Date Fair Value ($) | | Grant Date | | Grant Date Fair Value ($) | | | | | | Grant Date | | Grant Date Fair Value ($) | | Grant Date | | Grant Date Fair Value ($) | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | Total Stock Options Outstanding as of October 31, 2021 (#) | | Name | | Total Stock Options Outstanding as of October 31, 2022 (#) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Buck | | | | 11/2/2020 | | | | | 77,377 | | | | | — | | | | | n/a | | | | | — | | | | | 20,876 | | | Davis | | | | 11/1/2021 | | | | | 108,124 | | | | | 42,276 | | | | | n/a | | | | | — | | | | | 9,889 | | | ||||||||||||||||||
| Davis | | | | 11/2/2020 | | | | | 77,377 | | | | | 37,479 | | | | | n/a | | | | | — | | | | | 15,876 | | | Griffiths | | | | n/a | | | | | — | | | | | 5,954 | | | | | n/a | | | | | — | | | | | — | | | ||||||||||||||||||
| Maier | | | | 11/2/2020 | | | | | 77,377 | | | | | 11,484 | | | | | n/a | | | | | — | | | | | — | | | | | Hughes | | | | 2/22/2022 | | | | | 69,062 | | | | | 3,090 | | | | | n/a | | | | | — | | | | | — | | | | |||||||||||||||
| Mendes | | | | 11/2/2020 | | | | | 77,377 | | | | | 8,708 | | | | | n/a | | | | | — | | | | | — | | | | | Lippert | | | | 11/1/2021 | | | | | 108,124 | | | | | 4,797 | | | | | n/a | | | | | — | | | | | — | | | | |||||||||||||||
| Rupp | | | | 11/2/2020 | | | | | 77,377 | | | | | 37,479 | | | | | n/a | | | | | — | | | | | 24,008 | | | | | Maier | | | | 11/1/2021 | | | | | 108,124 | | | | | 16,281 | | | | | n/a | | | | | — | | | | | — | | | | |||||||||||||||
| Stevens | | | | 11/2/2020 | | | | | 77,377 | | | | | 23,774 | | | | | n/a | | | | | — | | | | | 15,876 | | | | | Mendes | | | | 11/1/2021 | | | | | 108,124 | | | | | 13,505 | | | | | n/a | | | | | — | | | | | — | | | | |||||||||||||||
| Waltz | | | | 11/2/2020 | | | | | 77,377 | | | | | 4,413 | | | | | n/a | | | | | — | | | | | — | | | | | Rupp(5) | | | | 11/1/2021 | | | | | 108,124 | | | | | — | | | | | n/a | | | | | — | | | | | 15,876 | | | | |||||||||||||||
| Stevens | | | | 11/1/2021 | | | | | 108,124 | | | | | 28,571 | | | | | n/a | | | | | — | | | | | 9,889 | | | | |||||||||||||||||||||||||||||||||||||||||||||||||
| Waltz | | | | 11/1/2021 | | | | | 108,124 | | | | | 9,210 | | | | | n/a | | | | | — | | | | | — | | | |
| | | Achieved • Revenue increased by • Diluted Earnings Per Share increased by • Adjusted EBITDA increased by 20%(1) | | |
| | | Strengthened Our Balance Sheet • Repaid • Repurchased • Amended and extended credit facility | | |
| | | Delivered Strong Results to Our Shareholders • Share price at the end of the fiscal year • | | |
| | | • The Quanex Foundation donated more than • Raised wages across multiple locations and experience levels and paid an annual bonus to every eligible Company employee | |
| What We Do | | | What We Don’t Do | | ||||||
| | | Link annual incentive compensation to the achievement of objective pre-established performance goals. | | | | | No tax gross ups for executive officers. | | ||
| | | Provide 70% of our long-term compensation in the form of performance-based long-term incentives. | | | | | No hedging or pledging of Company stock. | | ||
| | | Target the market median for all elements of compensation. | | | | | No “single-trigger” change in control payments. | | ||
| | | Apply robust minimum stock ownership guidelines. | | | | | No excessive perquisites. | | ||
| | | Maintain a clawback policy. | | | | | No liberal share recycling. | | ||
| | | Use and review compensation tally sheets. | | | | | No dividends on | | ||
| | | Evaluate the risk of our compensation programs. | | | | | | | | |
| | | Use an independent compensation consultant. | | | | | | | |
| Objectives | | | How We Meet Our Objectives | |
| Attract and retain effective leadership | | | • We provide a competitive total pay package, taking into account base salary, incentives, benefits, and perquisites for each executive. • We regularly benchmark our pay programs against the competitive market, comparing both fixed and variable at-risk compensation that is tied to short-term and long-term performance; we use the results of this analysis as context in making pay adjustments. • Our long-term plan includes three-year performance cycles for performance-based awards and three-year vesting schedules for time-based awards. • We compete effectively for the highest caliber people who will determine our long-term success. | |
| Motivate and reward executives for achieving specific financial goals | | | • We offer a compensation program that focuses on variable, performance-based compensation through annual and long-term incentive • Specific financial performance measures used in the incentive programs include: • In fiscal • In fiscal | |
| Create a strong financial incentive to meet or exceed long-term financial goals and build long-term value | | | • We link a significant part of total compensation to Quanex’s financial and stock price performance — over 70% of our compensation mix is performance-based. • We deliver 70% of long-term incentives in the form of performance-based • For SVPs and above, long-term compensation opportunities are weighted to deliver more than two times the target short-term incentive opportunity, resulting in a significant portion of our total compensation delivered in the form of long-term incentives. | |
| Align executive and shareholder interests | | | • In order to emphasize long-term shareholder returns, we require significant Quanex stock ownership among executives through the use of stock ownership guidelines. • The ultimate value of our annual equity grants is driven by stock price performance over the grant date value. • We use absolute TSR as the sole metric for 30% of our long-term incentive compensation, which ensures that executives do not earn certain performance-based compensation when our shareholders for that same period have suffered a loss in value. | |
| AAON Inc. American Woodmark Corp. Apogee Enterprises Inc. Armstrong Flooring Inc. Cornerstone Building Brands, Inc. CSW Industrials Inc. | | | Gibraltar Industries Inc. Griffon Industries Inc. Insteel Industries Inc. L.B. Foster Company Masonite International Corp. | Mueller Water Products, Inc. | | | Patrick Industries Inc. PGT, Inc. Simpson Manufacturing Inc. Tredegar Corporation Trex Company, Inc. | |
| AAON Inc. American Woodmark Corp. Apogee Enterprises Inc. Armstrong Flooring Inc. CSW Industrials Inc. Gibraltar Industries Inc | | | Griffon Corporation Insteel Industries Inc. L.B. Foster Company Masonite International Corp. Mueller Water Products, Inc. Patrick Industries Inc. | | | PGT, Inc. Simpson Manufacturing Tredegar Corporation Trex Company, Inc. | |
| Name and Principal Position | | Fiscal 2020 Base Salary | | Fiscal 2021 Base Salary | | Base Salary Increase | | Name and Principal Position | | Fiscal 2021 Base Salary | | Fiscal 2022 Base Salary | | Base Salary Increase | | ||||||||||||||||||||||||
| George L. Wilson President and CEO | | | $ | 575,000 | | | | $ | 675,000 | | | | | 17% | | | George L. Wilson President and CEO | | | $ | 675,000 | | | | $ | 725,000 | | | | | 7% | | | ||||||
| William C. Griffiths Executive Chairman | | | $ | 500,000 | | | | $ | 500,000 | | | | | 0% | | | Scott M. Zuehlke Senior Vice President, CFO and Treasurer | | | $ | 370,000 | | | | $ | 403,000 | | | | | 9% | | | ||||||
| Scott M. Zuehlke Senior Vice President, CFO and Treasurer | | | $ | 330,000 | | | | $ | 370,000 | | | | | 12% | | | Paul B. Cornett Senior Vice President, General Counsel and Secretary | | | $ | 350,000 | | | | $ | 375,000 | | | | | 7% | | | ||||||
| Paul B. Cornett Senior Vice President, General Counsel and Secretary | | | $ | 310,000 | | | | $ | 350,000 | | | | | 13% | | | Kimberley N. Garcia Vice President, Chief Human Resources Officer | | | $ | 262,000(1) | | | | $ | 295,000 | | | | | 13% | | | ||||||
| Mark A. Livingston Vice President, Chief Accounting Officer and Controller | | | $ | 240,000 | | | | $ | 275,000 | | | | | 15% | | | Mark A. Livingston Vice President, Chief Accounting Officer and Controller | | | $ | 275,000 | | | | $ | 290,000 | | | | | 5% | | |
| Participant | | Title | | Threshold | | Target | | Maximum | | Participant | | Title | | Threshold | | Target | | Maximum | | ||||||||||||||||||||||||||
| Wilson | | CEO | | | | 50% | | | | | 100% | | | | | 200% | | | Wilson | | CEO | | | | 50% | | | | | 100% | | | | | 200% | | | ||||||||
| Griffiths | | Executive Chair | | | | 50% | | | | | 100% | | | | | 200% | | | Zuehlke | | CFO | | | | 27.5% | | | | | 55% | | | | | 110% | | | ||||||||
| Zuehlke | | CFO | | | | 27.5% | | | | | 55% | | | | | 110% | | | Cornett | | GC | | | | 25% | | | | | 50% | | | | | 100% | | | ||||||||
| Cornett | | GC | | | | 25% | | | | | 50% | | | | | 100% | | | Garcia | | CHRO | | | | 25% | | | | | 50% | | | | | 100% | | | ||||||||
| Livingston | | CAO | | | | 25% | | | | | 50% | | | | | 100% | | | Livingston | | CAO | | | | 25% | | | | | 50% | | | | | 100% | | |
| Metric | | | Threshold ($ millions) | | | Target ($ millions) | | | Maximum ($ millions) | | |||||||||
| Revenue | | | | $ | 980.1 | | | | | $ | 1,088.9 | | | | | $ | 1,197.8 | | |
| Adjusted EBITDA | | | | $ | 120.5 | | | | | $ | 130.0 – $133.9 | | | | | $ | 147.3 | | |
| Working Capital as a Percentage of Sales | | | | | 11.4% | | | | | | 10.5% | | | | | | 9.3% | | |
| Participant | | | Title | | | Target % (as a % of salary) | | | Achieved % (as a % of Target) | | | Achieved % (as a % of salary) | | |||||||||
| Wilson | | | CEO | | | | | 100% | | | | | | 200% | | | | | | 200% | | |
| Griffiths | | | Executive Chair | | | | | 100% | | | | | | 200% | | | | | | 200% | | |
| Zuehlke | | | CFO | | | | | 55% | | | | | | 200% | | | | | | 110% | | |
| Cornett | | | GC | | | | | 50% | | | | | | 200% | | | | | | 100% | | |
| Livingston | | | CAO | | | | | 50% | | | | | | 200% | | | | | | 100% | | |
| Participant | | | Title | | | Target % (as a % of salary | | | Achieved % (as a % of Target) | | | Achieved % (as a % of salary | | |||||||||
| Wilson | | | CEO | | | | | 100% | | | | | | 180% | | | | | | 180% | | |
| Zuehlke | | | CFO | | | | | 55% | | | | | | 180% | | | | | | 99% | | |
| Cornett | | | GC | | | | | 50% | | | | | | 180% | | | | | | 90% | | |
| Garcia | | | CHRO | | | | | 50% | | | | | | 180% | | | | | | 90% | | |
| Livingston | | | CAO | | | | | 50% | | | | | | 180% | | | | | | 90% | | |
| Participant | | | Title | | | LTI Target | | |||
| Wilson | | | CEO | | | | $ | 1,650,000 | | |
| Griffiths* | | | Executive Chair | | | | $ | — | | |
| Zuehlke | | | CFO | | | | $ | 470,000 | | |
| Cornett | | | GC | | | | $ | 325,000 | | |
| Livingston | | | CAO | | | | $ | 200,000 | | |
| Participant | | | Title | | | LTI Target | | |||
| Wilson | | | CEO | | | | $ | 2,050,000 | | |
| Zuehlke | | | CFO | | | | $ | 588,000 | | |
| Cornett | | | GC | | | | $ | 500,000 | | |
| Garcia | | | CHRO | | | | $ | 200,000 | | |
| Livingston | | | CAO | | | | $ | 240,000 | | |
| Milestones | | Absolute Total Shareholder Return Performance | | Performance Restricted Stock Units Modifier | | Milestones | | Absolute Total Shareholder Return Performance | | Performance Restricted Stock Units Modified | | ||||||||||||||||
| Maximum | | | | ≥50% | | | | | 150% | | | Maximum | | | | ≥50% | | | | | 150% | | | ||||
| Target | | | | 20% | | | | | 100% | | | Target | | | | 20% | | | | | 100% | | | ||||
| Threshold | | | | –20% | | | | | 50% | | | Threshold | | | | –20% | | | | | 50% | | |
| Milestones | | RONA Performance | | Performance Share Modifier | | Milestones | | RONA Performance | | Performance Share Modifier | | ||||||||||||||||
| Maximum | | | | 14.5% | | | | | 200% | | | Maximum | | | | 20.2% | | | | | 200% | | | ||||
| Target | | | | 12.6% | | | | | 100% | | | Target | | | | 17.4% | | | | | 100% | | | ||||
| Threshold | | | | 10.3% | | | | | 75% | | | Threshold | | | | 14.6% | | | | | 75% | | |
| Milestones | | | RONA Performance | | | Payout Opportunity | | ||||||
| Performance Measures: | | | | | | | | | | | | | |
| Maximum | | | | | 9.6% | | | | | | 200% | | |
| Target | | | | | 8.4% | | | | | | 100% | | |
| Threshold | | | | | 7.1% | | | | | | 75% | | |
| Actual Performance | | | | | 17.0% | | | | | | 200% | | |
| Milestones | | | RONA Performance | | | Payout Opportunity | | ||||||
| Performance Measures: | | | | | | | | | | | | | |
| Maximum | | | | | 10.4% | | | | | | 200% | | |
| Target | | | | | 9.1% | | | | | | 100% | | |
| Threshold | | | | | 7.7% | | | | | | 75% | | |
| Actual Performance | | | | | 22.6% | | | | | | 200% | | |
| Officer | | | Fiscal 2019 Performance Shares Granted (#) | | | Total Performance Shares Earned (200% of Target) (#) | | | Total Payout ($) | | |||||||||
| Griffiths | | | | | 55,600 | | | | | | 111,200 | | | | | | 2,318,520 | | |
| Wilson | | | | | 23,300 | | | | | | 46,600 | | | | | | 971,610 | | |
| Zuehlke | | | | | 4,500 | | | | | | 9,000 | | | | | | 187,650 | | |
| Cornett* | | | | | — | | | | | | — | | | | | | — | | |
| Livingston* | | | | | — | | | | | | — | | | | | | — | | |
| Officer | | | Fiscal 2020 Performance Shares Granted (#) | | | Total Performance Shares Earned (200% of Target) (#) | | | Total Payout ($) | | |||||||||
| Wilson | | | | | 26,400 | | | | | | 52,800 | | | | | | 1,091,376 | | |
| Zuehlke | | | | | 8,200 | | | | | | 16,400 | | | | | | 338,988 | | |
| Cornett | | | | | 6,000 | | | | | | 12,000 | | | | | | 248,040 | | |
| Garcia(1) | | | | | — | | | | | | — | | | | | | — | | |
| Livingston | | | | | 3,400 | | | | | | 6,800 | | | | | | 140,556 | | |
| Officer | | Fiscal 2019 Performance RSUs Granted (#) | | TSR Total Shares Vested (138% of Target) (#) | | Cash Paid for Accumulated Dividends during Performance Period ($) | | Officer | | Fiscal 2020 Performance RSUs Granted (#) | | TSR Total Shares Vested (93% of Target) (#) | | Cash Paid for Accumulated Dividends during Performance Period ($) | | ||||||||||||||||||||||||
| Griffiths | | | | 42,400 | | | | | 58,520 | | | | $ | 56,179 | | | Wilson | | | | 21,000 | | | | | 19,608 | | | | | 18,824 | | | ||||||
| Wilson | | | | 17,800 | | | | | 24,568 | | | | $ | 23,585 | | | Zuehlke | | | | 6,500 | | | | | 6,069 | | | | | 5,826 | | | ||||||
| Zuehlke | | | | 3,500 | | | | | 4,831 | | | | $ | 4,638 | | | Cornett | | | | 4,800 | | | | | 4,482 | | | | | 4,303 | | | ||||||
| Cornett* | | | | — | | | | | — | | | | | — | | | Garcia(1) | | | | — | | | | | — | | | | | — | | | ||||||
| Livingston* | | | | — | | | | | — | | | | | — | | | Livingston | | | | 2,700 | | | | | 2,521 | | | | | 2,420 | | |
| Level | | | Typical Executive Position | | | Stock Ownership Goal | |
| 1 | | | CEO | | | 4x Base Salary | |
| 2 | | | SVP | | | 2x Base Salary | |
| 3 | | | VP | | | 1x Base Salary | |
| Executive Compensation Element | | | Action Item | |
| Base Salaries | | | • Review and/or adjust based on market review | |
| Short-Term Incentives | | | • Determine year-end results and approve payouts • Set goals for upcoming year | |
| Long-Term Incentives | | | • Determine performance results and approve long-term plan’s payouts • Set goals for long-term plan’s next three-year performance cycle • Determine and approve annual equity awards, including restricted stock awards and long-term performance based awards | |
| Severance Policy Benefits | | | | | | | | ||||||
| Tier | | | Qualifying Termination without Change in Control | | | Qualifying Termination following Change in Control | | | | ||||
| Tier 1 (Wilson) | | | • 2x base salary plus 2x target annual bonus at the time of Qualifying Termination, payable in installments on normal payroll schedule; and • Pro-rata annual bonus for year of termination based on actual Company performance and number of days worked by the Executive during the fiscal year, to be paid at the same time bonuses are paid to active employees; and • Continued health and welfare benefits, or reimbursement thereof, for eighteen (18) months for the Executive and his or her spouse and dependents, subject to earlier termination when the Executive becomes eligible for such benefits from a subsequent employer. | | | • 2.5x base salary plus 2.5x target annual bonus at the time of Qualifying Termination (or, if higher, at the time of Change in Control), payable in a lump sum within fifteen (15) days of termination; and • Pro-rata target annual bonus for year of termination based on number of days worked by the Executive during the fiscal year, payable in a lump sum within fifteen (15) days of termination; and • Continued health and welfare benefits, or reimbursement thereof, for eighteen (18) months for the Executive and his or her spouse and dependents, subject to earlier termination when the Executive becomes eligible for such benefits from a subsequent employer. | | | | ||||
| Tier 2 (Zuehlke, Cornett, Garcia, Livingston) | | | • 1.5x base salary plus 1.5x target annual bonus at the time of Qualifying Termination, payable in installments on normal payroll schedule; and • Pro-rata annual bonus for year of termination based on actual Company performance and number of days worked by the Executive during the fiscal year, to be paid at the same time bonuses are paid to active employees; and • Continued health and welfare benefits, or reimbursement thereof, for eighteen (18) months for the Executive and his or her spouse and dependents, subject to earlier termination when the Executive becomes eligible for such benefits from a subsequent employer. | | | • 2x base salary plus 2x target annual bonus at the time of Qualifying Termination (or, if higher, at the time of Change in Control), payable in a lump sum within fifteen (15) days of termination; and • Pro-rata target annual bonus for year of termination based on number of days worked by the Executive during the fiscal year, payable in a lump sum within fifteen (15) days of termination; and • Continued health and welfare benefits, or reimbursement thereof, for eighteen (18) months for the Executive and his or her spouse and dependents, subject to earlier termination when the Executive becomes eligible for such benefits from a subsequent employer. | | | |
| Name | | Severance Payment ($) | | Pro-rated Bonus ($) | | Restricted Stock/ RSUs (Unvested)(1) ($) | | Performance Shares(1) ($) | | Performance Restricted Stock Units(1) ($) | | Health & Welfare Benefits(2) ($) | | Total Benefit ($) | | Name | | Severance Payment ($) | | Pro-rated Bonus ($) | | Restricted Stock/RSUs (Unvested)(1) ($) | | Performance Shares(1) ($) | | Performance RSUs(1) ($) | | Health & Welfare Benefits(2) ($) | | Retirement (SERP & Restoration)(3) ($) | | Total Benefit ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| William C. Griffiths Enhanced Retirement(4) Death/Disability Involuntary w/o Cause(5) Change in Control(6) Termination after Change in Control(7) | | | | | — | | | | | 1,000,000 | | | | | — | | | | | 2,410,816(8) | | | | | 1,268,714 | | | | | — | | | | | 4,679,530 | | | George L. Wilson Enhanced Retirement(4) Death/Disability Involuntary w/o Cause(5) Change in Control(6) Termination after Change in Control(7) | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | |||||||||||||
| | | — | | | | | 1,000,000 | | | | | 837,220 | | | | | 2,410,816(8) | | | | | 1,268,714 | | | | | — | | | | | 5,516,750 | | | | | | — | | | | | 1,303,269 | | | | | 1,669,717 | | | | | 2,879,400(8) | | | | | 1,656,163 | | | | | — | | | | | — | | | | | 7,508,549 | | | ||||||||||||||||||
| | | 1,000,000 | | | | | 1,000,000 | | | | | — | | | | | — | | | | | — | | | | | 26,932 | | | | | 2,026,932 | | | | | | 2,898,076 | | | | | 1,303,269 | | | | | — | | | | | — | | | | | — | | | | | 42,076 | | | | | — | | | | | 4,243,421 | | | ||||||||||||||||||
| | | — | | | | | 500,000 | | | | | 864,024 | | | | | 1,205,408 | | | | | 1,252,377 | | | | | — | | | | | 3,821,809 | | | | | | — | | | | | 724,038 | | | | | 1,683,328 | | | | | 2,269,032 | | | | | 1,427,918 | | | | | — | | | | | — | | | | | 6,104,316 | | | ||||||||||||||||||
| | | 3,530,144 | | | | | 680,650 | | | | | 864,024 | | | | | 1,205,408 | | | | | 1,252,377 | | | | | 55,724 | | | | | 7,588,327 | | | | | | 3,622,595 | | | | | 724,038 | | | | | 1,683,328 | | | | | 2,269,032 | | | | | 1,427,918 | | | | | 42,076 | | | | | — | | | | | 9,768,987 | | | ||||||||||||||||||
| George L. Wilson Enhanced Retirement(4) Death/Disability Involuntary w/o Cause(5) Change in Control(6) Termination after Change in Control(7) | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | Scott M. Zuehlke Enhanced Retirement(4) Death/Disability Involuntary w/o Cause(5) Change in Control(6) Termination after Change in Control(7) | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | |||||||||||||
| | | — | | | | | 1,346,184 | | | | | 1,148,773 | | | | | 2,101,756(8) | | | | | 1,336,032 | | | | | — | | | | | 5,933,347 | | | | | | — | | | | | 398,341 | | | | | 490,650 | | | | | 854,352(8) | | | | | 483,946 | | | | | — | | | | | — | | | | | 2,227,289 | | | ||||||||||||||||||
| | | 2,696,154 | | | | | 1,346,184 | | | | | — | | | | | — | | | | | — | | | | | 40,870 | | | | | 4,083,208 | | | | | | 936,451 | | | | | 398,341 | | | | | — | | | | | — | | | | | — | | | | | 40,650 | | | | | — | | | | | 1,375,442 | | | ||||||||||||||||||
| | | — | | | | | —(9) | | | | | 1,309,376 | | | | | 1,594,503(9) | | | | | 1,366,032 | | | | | — | | | | | 4,269,911 | | | | | | — | | | | | 221,301 | | | | | 494,912 | | | | | 664,768 | | | | | 418,595 | | | | | — | | | | | — | | | | | 1,799,575 | | | ||||||||||||||||||
| | | 3,370,193 | | | | | 673,077 | | | | | 1,309,376 | | | | | 1,596,440 | | | | | 1,366,032 | | | | | 40,870 | | | | | 8,355,987 | | | | | | 1,248,602 | | | | | 221,301 | | | | | 494,912 | | | | | 664,768 | | | | | 418,595 | | | | | 40,650 | | | | | — | | | | | 3,088,827 | | | ||||||||||||||||||
| Scott M. Zuehlke Enhanced Retirement(4) Death/Disability Involuntary w/o Cause(5) Change in Control(6) Termination after Change in Control(7) | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | Paul B. Cornett Enhanced Retirement(4) Death/Disability Involuntary w/o Cause(5) Change in Control(6) Termination after Change in Control(7) | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | |||||||||||||
| | | — | | | | | 406,154 | | | | | 303,551 | | | | | 516,029(8) | | | �� | | | 340,368 | | | | | — | | | | | 1,566,102 | | | | | | — | | | | | 337,067 | | | | | 536,054 | | | | | 646,008(8) | | | | | 370,207 | | | | | — | | | | | — | | | | | 1,889,337 | | | |||||||||||||||||
| | | 859,616 | | | | | 406,154 | | | | | — | | | | | — | | | | | — | | | | | 24,740 | | | | | 1,290,510 | | | | | | 843,389 | | | | | 337,067 | | | | | — | | | | | — | | | | | — | | | | | 40,534 | | | | | — | | | | | 1,220,990 | | | ||||||||||||||||||
| | | — | | | | | 203,077 | | | | | 352,504 | | | | | 418,416 | | | | | 352,212 | | | | | — | | | | | 1,326,209 | | | | | | — | | | | | 187,260 | | | | | 548,788 | | | | | 507,288 | | | | | 318,070 | | | | | — | | | | | — | | | | | 1,561,405 | | | ||||||||||||||||||
| | | 1,146,154 | | | | | 203,077 | | | | | 352,504 | | | | | 418,416 | | | | | 352,212 | | | | | 24,740 | | | | | 2,497,104 | | | | | | 1,124,519 | | | | | 187,260 | | | | | 548,788 | | | | | 507,288 | | | | | 318,070 | | | | | 40,534 | | | | | — | | | | | 2,726,458 | | | ||||||||||||||||||
| Paul Cornett Enhanced Retirement(4) Death/Disability Involuntary w/o Cause(5) Change in Control(6) Termination after Change in Control(7) | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | Kimberley N. Garcia Enhanced Retirement(4) Death/Disability Involuntary w/o Cause(5) Change in Control(6) Termination after Change in Control(7) | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | |||||||||||||
| | | — | | | | | 349,231 | | | | | 353,850 | | | | | 226,447(8) | | | | | 167,240 | | | | | — | | | | | 1,096,768 | | | | | | 0 | | | | | 264,931 | | | | | 232,520 | | | | | 85,424(8) | | | | | 62,944 | | | | | 0 | | | | | — | | | | | 645,819 | | | ||||||||||||||||||
| | | 786,923 | | | | | 349,231 | | | | | — | | | | | — | | | | | — | | | | | 39,053 | | | | | 1,175,207 | | | | | | 663,276 | | | | | 264,931 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 16,389 | | | | | — | | | | | 944,596 | | | ||||||||||||||||||
| | | — | | | | | 174,616 | | | | | 453,636 | | | | | 226,408 | | | | | 177,998 | | | | | — | | | | | 1,032,658 | | | | | | 0 | | | | | 147,184 | | | | | 232,520 | | | | | 85,424 | | | | | 47,867 | | | | | 0 | | | | | — | | | | | 512,995 | | | ||||||||||||||||||
| | | 1,049,231 | | | | | 174,616 | | | | | 453,636 | | | | | 226,408 | | | | | 177,998 | | | | | 39,053 | | | | | 2,120,941 | | | | | | 884,368 | | | | | 147,184 | | | | | 232,520 | | | | | 85,424 | | | | | 47,867 | | | | | 16,389 | | | | | — | | | | | 1,413,752 | | | ||||||||||||||||||
| Mark Livingston Enhanced Retirement(4) Death/Disability Involuntary w/o Cause(5) Change in Control(6) Termination after Change in Control(7) | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | Mark A. Livingston Enhanced Retirement(4) Death/Disability Involuntary w/o Cause(5) Change in Control(6) Termination after Change in Control(7) | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | | | n/a | | | |||||||||||||
| | | — | | | | | 274,327 | | | | | 183,324 | | | | | 134,702(8) | | | | | 99,464 | | | | | — | | | | | 691,817 | | | | | | — | | | | | 260,740 | | | | | 203,041 | | | | | 354,104(8) | | | | | 200,737 | | | | | — | | | | | — | | | | | 1,018,622 | | | ||||||||||||||||||
| | | 618,245 | | | | | 274,327 | | | | | — | | | | | — | | | | | — | | | | | 27,207 | | | | | 919,779 | | | | | | 652,284 | | | | | 260,740 | | | | | — | | | | | — | | | | | — | | | | | 40,242 | | | | | — | | | | | 953,266 | | | ||||||||||||||||||
| | | — | | | | | 137,164 | | | | | 210,264 | | | | | 134,680 | | | | | 104,710 | | | | | — | | | | | 586,818 | | | | | | — | | | | | 144,856 | | | | | 204,760 | | | | | 275,496 | | | | | 173,848 | | | | | — | | | | | — | | | | | 798,960 | | | ||||||||||||||||||
| | | 824,327 | | | | | 137,164 | | | | | 210,264 | | | | | 134,680 | | | | | 104,710 | | | | | 27,207 | | | | | 1,438,352 | | | | | | 502,153(9) | | | | | 144,856 | | | | | 204,760 | | | | | 275,496 | | | | | 173,848 | | | | | 40,242 | | | | | — | | | | | 1,341,356 | | |
| Name/Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards(1) ($) | | Option Awards(1) ($) | | Non-Equity Incentive Plan Compensation(2) ($) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings(3) ($) | | All Other Compensation(4) ($) | | Total ($) | | Name/Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards(1) ($) | | Option Awards(1) ($) | | Non-Equity Incentive Plan Compensation(2) ($) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings(3) ($) | | All Other Compensation(4) ($) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| William C. Griffiths Executive Chairman of the Board | | | | | 2021 | | | | | 500,000 | | | | | — | | | | | — | | | | | — | | | | | 3,425,272 | | | | | 6,826 | | | | | 43,382 | | | | | 3,975,480 | | | George L. Wilson President — Chief Executive Officer | | | | | 2022 | | | | | 725,000 | | | | | — | | | | | 1,279,882 | | | | | — | | | | | 2,445,333 | | | | | (98,029) | | | | | 54,624 | | | | | 4,406,810 | | | ||||||||||||||||
| | | 2020 | | | | | 552,500 | | | | | — | | | | | — | | | | | — | | | | | 680,650 | | | | | 28,880 | | | | | 52,609 | | | | | 1,314,639 | | | | | | 2021 | | | | | 675,000 | | | | | — | | | | | 1,023,660 | | | | | — | | | | | 2,362,500 | | | | | (3,822) | | | | | 49,783 | | | | | 4,107,121 | | | |||||||||||||||||||||
| | | 2019 | | | | | 815,000 | | | | | — | | | | | 1,146,283 | | | | | — | | | | | 838,795 | | | | | 63,473 | | | | | 60,140 | | | | | 2,923,691 | | | | | | 2020 | | | | | 562,000 | | | | | — | | | | | 791,520 | | | | | — | | | | | 642,485 | | | | | 24,734 | | | | | 87,171 | | | | | 2,107,910 | | | |||||||||||||||||||||
| George L. Wilson President — Chief Executive Officer | | | | | 2021 | | | | | 675,000 | | | | | — | | | | | 1,023,660 | | | | | — | | | | | 2,362,500 | | | | | (3,822) | | | | | 49,783 | | | | | 4,107,121 | | | Scott M. Zuehlke Senior Vice President — Chief Financial Officer & Treasurer | | | | | 2022 | | | | | 403,000 | | | | | — | | | | | 368,494 | | | | | — | | | | | 753,073 | | | | | (41,614) | | | | | 23,279 | | | | | 1,506,232 | | | ||||||||||||||||
| | | 2020 | | | | | 562,000 | | | | | — | | | | | 791,520 | | | | | — | | | | | 642,485 | | | | | 24,734 | | | | | 87,171 | | | | | 2,107,910 | | | | | | 2021 | | | | | 370,000 | | | | | — | | | | | 291,588 | | | | | — | | | | | 602,444 | | | | | (2,095) | | | | | 21,653 | | | | | 1,283,590 | | | |||||||||||||||||||||
| | | 2019 | | | | | 495,000 | | | | | — | | | | | 481,139 | | | | | — | | | | | 306,025 | | | | | 71,704 | | | | | 39,355 | | | | | 1,393,223 | | | | | | 2020 | | | | | 330,000 | | | | | — | | | | | 246,380 | | | | | — | | | | | 216,153 | | | | | 11,869 | | | | | 19,015 | | | | | 823,417 | | | |||||||||||||||||||||
| Scott M. Zuehlke Senior Vice President — Chief Financial Officer & Treasurer | | | | | 2021 | | | | | 370,000 | | | | | — | | | | | 291,588 | | | | | — | | | | | 602,444 | | | | | (2,095) | | | | | 21,653 | | | | | 1,283,590 | | | Paul B. Cornett Senior Vice President — General Counsel & Secretary | | | | | 2022 | | | | | 375,000 | | | | | — | | | | | 311,814 | | | | | — | | | | | 596,627 | | | | | (204,105) | | | | | 19,120 | | | | | 1,098,456 | | | ||||||||||||||||
| | | 2020 | | | | | 330,000 | | | | | — | | | | | 246,380 | | | | | — | | | | | 216,153 | | | | | 11,869 | | | | | 19,015 | | | | | 823,417 | | | | | | 2021 | | | | | 350,000 | | | | | — | | | | | 200,596 | | | | | — | | | | | 349,231 | | | | | 36,353 | | | | | 22,313 | | | | | 958,493 | | | |||||||||||||||||||||
| | | 2019 | | | | | 250,000 | | | | | — | | | | | 94,047 | | | | | — | | | | | 110,051 | | | | | 27,832 | | | | | 9,490 | | | | | 491,420 | | | | | | 2020 | | | | | 310,000 | | | | | — | | | | | 180,420 | | | | | — | | | | | 184,153 | | | | | 112,694 | | | | | 20,727 | | | | | 807,994 | | | |||||||||||||||||||||
| Paul B. Cornett Senior Vice President — General Counsel & Secretary | | | | | 2021 | | | | | 350,000 | | | | | — | | | | | 200,596 | | | | | — | | | | | 349,231 | | | | | 36,353 | | | | | 22,313 | | | | | 958,493 | | | Kimberley N. Garcia Vice President — Chief Human Resource Officer | | | | | 2022 | | | | | 295,000 | | | | | — | | | | | 124,334 | | | | | — | | | | | 264,931 | | | | | — | | | | | 20,918 | | | | | 705,183 | | | ||||||||||||||||
| | | 2020 | | | | | 310,000 | | | | | — | | | | | 180,420 | | | | | — | | | | | 184,153 | | | | | 112,694 | | | | | 20,727 | | | | | 807,994 | | | | | | 2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2020 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||
| Mark A. Livingston Vice President — Chief Accounting Officer & Controller | | | | | 2021 | | | | | 275,000 | | | | | — | | | | | 124,080 | | | | | — | | | | | 274,327 | | | | | — | | | | | 14,974 | | | | | 688,381 | | | Mark A. Livingston Vice President — Chief Accounting Officer & Controller | | | | | 2022 | | | | | 290,000 | | | | | — | | | | | 150,494 | | | | | — | | | | | 407,824 | | | | | — | | | | | 5,486 | | | | | 853,804 | | | ||||||||||||||||
| | | 2020 | | | | | 240,000 | | | | | — | | | | | 100,880 | | | | | — | | | | | 143,773 | | | | | — | | | | | 16,477 | | | | | 501,130 | | | | | | 2021 | | | | | 275,000 | | | | | — | | | | | 124,080 | | | | | — | | | | | 274,327 | | | | | — | | | | | 14,974 | | | | | 688,381 | | | |||||||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2020 | | | | | 240,000 | | | | | — | | | | | 100,880 | | | | | — | | | | | 143,773 | | | | | — | | | | | 16,477 | | | | | 501,130 | | |
| | | | | | | | Annual Incentive | | Performance Unit Payout | | Performance Share Payout | | Total | | | | | | | | | Annual Incentive | | Performance Unit Payout | | Performance Share Payout | | Total | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | Year | | Total ($) | | Deferred ($) | | Total ($) | | Deferred ($) | | Total ($) | | Deferred ($) | | Total ($) | | Deferred ($) | | Name | | Year | | Total ($) | | Deferred ($) | | Total ($) | | Deferred ($) | | Total ($) | | Deferred ($) | | Total ($) | | Deferred ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Griffiths | | | | | 2021 | | | | | 1,000,000 | | | | | — | | | | | — | | | | | — | | | | | 2,425,272 | | | | | — | | | | | 3,425,272 | | | | | — | | | Wilson | | | | | 2022 | | | | | 1,303,269 | | | | | — | | | | | — | | | | | — | | | | | 1,142,064 | | | | | — | | | | | 2,445,333 | | | | | — | | | ||||||||||||||||
| | | 2020 | | | | | 680,650 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 680,650 | | | | | — | | | | | | 2021 | | | | | 1,346,154 | | | | | — | | | | | — | | | | | — | | | | | 1,016,346 | | | | | — | | | | | 2,362,500 | | | | | — | | | |||||||||||||||||||||
| | | 2019 | | | | | 578,426 | | | | | — | | | | | — | | | | | — | | | | | 260,369 | | | | | — | | | | | 838,795 | | | | | — | | | | | | 2020 | | | | | 642,485 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 642,485 | | | | | — | | | |||||||||||||||||||||
| Wilson | | | | | 2021 | | | | | 1,346,154 | | | | | — | | | | | — | | | | | — | | | | | 1,016,346 | | | | | — | | | | | 2,362,500 | | | | | — | | | Zuehlke | | | | | 2022 | | | | | 398,341 | | | | | — | | | | | — | | | | | — | | | | | 354,732 | | | | | — | | | | | 753,073 | | | | | — | | | ||||||||||||||||
| | | 2020 | | | | | 642,485 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 642,485 | | | | | — | | | | | | 2021 | | | | | 406,154 | | | | | — | | | | | — | | | | | — | | | | | 196,290 | | | | | — | | | | | 602,444 | | | | | — | | | |||||||||||||||||||||
| | | 2019 | | | | | 262,564 | | | | | — | | | | | — | | | | | — | | | | | 43,461 | | | | | — | | | | | 306,025 | | | | | — | | | | | | 2020 | | | | | 216,153 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 216,153 | | | | | — | | | |||||||||||||||||||||
| Zuehlke | | | | | 2021 | | | | | 406,154 | | | | | — | | | | | — | | | | | — | | | | | 196,290 | | | | | — | | | | | 602,444 | | | | | — | | | Cornett | | | | | 2022 | | | | | 337,067 | | | | | — | | | | | — | | | | | — | | | | | 259,560 | | | | | — | | | | | 596,627 | | | | | — | | | ||||||||||||||||
| | | 2020 | | | | | 216,153 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 216,153 | | | | | — | | | | | | 2021 | | | | | 349,231 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 349,231 | | | | | — | | | |||||||||||||||||||||
| | | 2019 | | | | | 88,716 | | | | | — | | | | | — | | | | | — | | | | | 21,335 | | | | | — | | | | | 110,051 | | | | | — | | | | | | 2020 | | | | | 184,153 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 184,153 | | | | | — | | | |||||||||||||||||||||
| Cornett | | | | | 2021 | | | | | 349,231 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 349,231 | | | | | — | | | Garcia | | | | | 2022 | | | | | 264,931 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 264,931 | | | | | — | | | ||||||||||||||||
| | | 2020 | | | | | 184,153 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 184,153 | | | | | — | | | | | | 2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2020 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||
| Livingston | | | | | 2021 | | | | | 274,327 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 274,327 | | | | | — | | | Livingston | | | | | 2022 | | | | | 260,740 | | | | | — | | | | | — | | | | | — | | | | | 147,084 | | | | | — | | | | | 407,824 | | | | | — | | | ||||||||||||||||
| | | 2020 | | | | | 143,773 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 143,773 | | | | | — | | | | | | 2021 | | | | | 274,327 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 274,327 | | | | | — | | | |||||||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2020 | | | | | 143,773 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 143,773 | | | | | — | | |
| | | Year | | Life Insurance ($) | | Financial Planning ($) | | Automobile ($) | | Housing & Relocation ($) | | 401K Match ($) | | Health Assess-ment ($) | | Unvested Restricted Stock and RSU Dividends* ($) | | Cell Phone Stipend ($) | | Total ($) | | | | Year | | Life Insurance ($) | | Financial Planning ($) | | Automobile ($) | | Housing & Relocation ($) | | 401K Match ($) | | Health Assess-ment ($) | | Unvested Restricted Stock and RSU Dividends* ($) | | Cell Phone Stipend ($) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Griffiths | | | | | 2021 | | | | | 15,618 | | | | | — | | | | | — | | | | | — | | | | | 14,420 | | | | | — | | | | | 13,344 | | | | | — | | | | | 43,382 | | | Wilson | | | | | 2022 | | | | | 3,438 | | | | | — | | | | | 12,000 | | | | | — | | | | | 15,250 | | | | | — | | | | | 23,936 | | | | | — | | | | | 54,624 | | | ||||||||||||||||||
| | | 2020 | | | | | 13,851 | | | | | 1,811 | | | | | — | | | | | — | | | | | 13,954 | | | | | — | | | | | 22,993 | | | | | — | | | | | 52,609 | | | | | | 2021 | | | | | 3,187 | | | | | — | | | | | 12,000 | | | | | — | | | | | 14,500 | | | | | — | | | | | 20,096 | | | | | — | | | | | 49,783 | | | |||||||||||||||||||||||
| | | 2019 | | | | | 17,877 | | | | | 1,750 | | | | | — | | | | | — | | | | | 6,992 | | | | | — | | | | | 33,521 | | | | | — | | | | | 60,140 | | | | | | 2020 | | | | | 2,883 | | | | | — | | | | | 12,000 | | | | | 42,838 | | | | | 14,250 | | | | | — | | | | | 15,200 | | | | | — | | | | | 87,171 | | | |||||||||||||||||||||||
| Wilson | | | | | 2021 | | | | | 3,187 | | | | | — | | | | | 12,000 | | | | | — | | | | | 14,500 | | | | | — | | | | | 20,096 | | | | | — | | | | | 49,783 | | | Zuehlke | | | | | 2022 | | | | | 989 | | | | | — | | | | | — | | | | | — | | | | | 15,250 | | | | | — | | | | | 7,040 | | | | | — | | | | | 23,279 | | | ||||||||||||||||||
| | | 2020 | | | | | 2,883 | | | | | — | | | | | 12,000 | | | | | 42,838 | | | | | 14,250 | | | | | — | | | | | 15,200 | | | | | — | | | | | 87,171 | | | | | | 2021 | | | | | 822 | | | | | — | | | | | — | | | | | — | | | | | 15,423 | | | | | — | | | | | 5,408 | | | | | — | | | | | 21,653 | | | |||||||||||||||||||||||
| | | 2019 | | | | | 2,415 | | | | | — | | | | | 12,000 | | | | | 4,500 | | | | | 7,666 | | | | | 2,150 | | | | | 10,624 | | | | | — | | | | | 39,355 | | | | | | 2020 | | | | | 499 | | | | | — | | | | | — | | | | | — | | | | | 13,327 | | | | | — | | | | | 5,189 | | | | | — | | | | | 19,015 | | | |||||||||||||||||||||||
| Zuehlke | | | | | 2021 | | | | | 822 | | | | | — | | | | | — | | | | | — | | | | | 15,423 | | | | | — | | | | | 5,408 | | | | | — | | | | | 21,653 | | | Cornett | | | | | 2022 | | | | | 871 | | | | | — | | | | | — | | | | | — | | | | | 10,404 | | | | | — | | | | | 7,845 | | | | | — | | | | | 19,120 | | | ||||||||||||||||||
| | | 2020 | | | | | 499 | | | | | — | | | | | — | | | | | — | | | | | 13,327 | | | | | — | | | | | 5,189 | | | | | — | | | | | 19,015 | | | | | | 2021 | | | | | 82 | | | | | — | | | | | — | | | | | — | | | | | 15,250 | | | | | — | | | | | 6,981 | | | | | — | | | | | 22,313 | | | |||||||||||||||||||||||
| | | 2019 | | | | | 390 | | | | | — | | | | | — | | | | | — | | | | | 5,769 | | | | | — | | | | | 3,331 | | | | | — | | | | | 9,490 | | | | | | 2020 | | | | | 397 | | | | | — | | | | | — | | | | | — | | | | | 14,469 | | | | | — | | | | | 5,861 | | | | | — | | | | | 20,727 | | | |||||||||||||||||||||||
| Cornett | | | | | 2021 | | | | | 82 | | | | | — | | | | | — | | | | | — | | | | | 15,250 | | | | | — | | | | | 6,981 | | | | | — | | | | | 22,313 | | | Garcia | | | | | 2022 | | | | | 465 | | | | | — | | | | | — | | | | | — | | | | | 15,989 | | | | | — | | | | | 3,264 | | | | | 1,200 | | | | | 20,918 | | | ||||||||||||||||||
| | | 2020 | | | | | 397 | | | | | — | | | | | — | | | | | — | | | | | 14,469 | | | | | — | | | | | 5,861 | | | | | — | | | | | 20,727 | | | | | | 2021 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2020 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||||||
| Livingston | | | | | 2021 | | | | | 1,780 | | | | | — | | | | | — | | | | | — | | | | | 9,385 | | | | | — | | | | | 3,232 | | | | | 577 | | | | | 14,974 | | | Livingston | | | | | 2022 | | | | | 1,974 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 2,912 | | | | | 600 | | | | | 5,486 | | | ||||||||||||||||||
| | | 2020 | | | | | 1,617 | | | | | — | | | | | — | | | | | — | | | | | 11,997 | | | | | — | | | | | 2,240 | | | | | 623 | | | | | 16,477 | | | | | | 2021 | | | | | 1,780 | | | | | — | | | | | — | | | | | — | | | | | 9,385 | | | | | — | | | | | 3,232 | | | | | 577 | | | | | 14,974 | | | |||||||||||||||||||||||
| | | 2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 2020 | | | | | 1,617 | | | | | — | | | | | — | | | | | — | | | | | 11,997 | | | | | — | | | | | 2,240 | | | | | 623 | | | | | 16,477 | | |
| Name | | Grant Date | | Non- Equity Incentive Plan Awards (#) | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units(4) (#) | | All Other Option Awards: Number of Securities Underlying Options(5) (#) | | Exercise or Base Price of Option Awards(5) ($/Sh) | | Grant Date Fair Value of Stock Awards(6) ($) | | Grant Date Fair Value of Option Awards(5) ($) | | | | | | | | | | Non- Equity Incentive Plan Awards (#) | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units(4) (#) | | All Other Option Awards: Number of Securities Under-lying Options(5) (#) | | Exercise or Base Price of Option Awards(5) ($/Sh) | | Grant Date Fair Value of Stock Awards(6) ($) | | Grant Date Fair Value of Option Awards(5) ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Threshold ($) | | Target ($) | | Maximum ($) | | Name | | Grant Date | | Threshold ($) | | Target ($) | | Maximum ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Griffiths | | | | 2021 | | | | | — | | | | | 250,000(2) | | | | | 500,000(2) | | | | | 1,000,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Wilson | | | | | 2022 | | | | | — | | | | | 362,500(2) | | | | | 725,000(2) | | | | | 1,450,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||
| | | | | 12/2/2020 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 12/9/2021 | | | | | 39,000(1) | | | | | 664,367(3) | | | | | 885,822(3) | | | | | 1,771,644(3) | | | | | 58,700 | | | | | — | | | | | — | | | | | 1,279,882 | | | | | — | | | |||||||||||||||||||||
| Wilson | | | | 2021 | | | | | — | | | | | 337,500(2) | | | | | 675,000(2) | | | | | 1,350,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Zuehlke | | | | | 2022 | | | | | — | | | | | 110,825(2) | | | | | 221,650(2) | | | | | 443,300(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||
| | | | | 12/2/2020 | | | | | 34,000(1) | | | | | 527,340(3) | | | | | 703,120(3) | | | | | 1,406,240(3) | | | | | 49,500 | | | | | — | | | | | — | | | | | 1,023,660 | | | | | — | | | | | | 12/9/2021 | | | | | 11,300(1) | | | | | 191,027(3) | | | | | 254,702(3) | | | | | 509,404(3) | | | | | 16,900 | | | | | — | | | | | — | | | | | 368,494 | | | | | — | | | |||||||||||||||||||||
| Zuehlke | | | | 2021 | | | | | — | | | | | 103,600(2) | | | | | 203,500(2) | | | | | 407,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Cornett | | | | | 2022 | | | | | — | | | | | 93,750(2) | | | | | 187,500(2) | | | | | 375,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||
| | | | | 12/2/2020 | | | | | 9,700(1) | | | | | 150,447(3) | | | | | 200,596(3) | | | | | 401,192(3) | | | | | 14,100 | | | | | — | | | | | — | | | | | 291,588 | | | | | — | | | | | | 12/9/2021 | | | | | 9,600(1) | | | | | 162,288(3) | | | | | 216,384(3) | | | | | 432,768(3) | | | | | 14,300 | | | | | — | | | | | — | | | | | 311,814 | | | | | — | | | |||||||||||||||||||||
| Cornett | | | | 2021 | | | | | — | | | | | 87,500(2) | | | | | 175,000(2) | | | | | 350,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Garcia | | | | | 2022 | | | | | — | | | | | 73,750(2) | | | | | 147,500(2) | | | | | 295,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||
| | | | | 12/2/2020 | | | | | 6,700(1) | | | | | 103,917(3) | | | | | 138,556(3) | | | | | 277,112(3) | | | | | 9,700 | | | | | — | | | | | — | | | | | 200,596 | | | | | — | | | | | | 12/9/2021 | | | | | 4,600(1) | | | | | 77,763(3) | | | | | 103,684(3) | | | | | 207,368(3) | | | | | 5,700 | | | | | — | | | | | — | | | | | 124,334 | | | | | — | | | |||||||||||||||||||||
| Livingston | | | | 2021 | | | | | — | | | | | 68,750(2) | | | | | 137,500(2) | | | | | 275,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Livingston | | | | | 2022 | | | | | — | | | | | 72,500(2) | | | | | 145,000(2) | | | | | 290,000(2) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||||||||||||
| | | | | 12/2/2020 | | | | | 4,100(1) | | | | | 63,591(3) | | | | | 84,788(3) | | | | | 169,576(3) | | | | | 6,000 | | | | | — | | | | | — | | | | | 124,080 | | | | | — | | | | | | 12/9/2021 | | | | | 3,800(1) | | | | | 64,239(3) | | | | | 85,652(3) | | | | | 171,304(3) | | | | | 6,900 | | | | | — | | | | | — | | | | | 150,494 | | | | | — | | |
| | | Option Awards | | Stock Awards | | | | Option Awards | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | Number of Securities Underlying Unexercised Options (#) Exercisable | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock That Have Not Vested(7) (#) | | Market Value of Shares or Units of Stock That Have Not Vested(7) ($) | | Name | | Number of Securities Underlying Unexercised Options (#) Exercisable | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock That Have Not Vested(6) (#) | | Market Value of Shares or Units of Stock That Have Not Vested(6) ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||
| Griffiths | | | | — | | | | | —(1) | | | | | — | | | | | — | | | | | 84,100 | | | | | 1,743,393 | | | Wilson | | | | | — | | | | | —(1) | | | | | — | | | | | — | | | | | 58,700 | | | | | 1,300,792 | | | |||||||||||
| Wilson | | | | — | | | | | —(1) | | | | | — | | | | | — | | | | | 49,500 | | | | | 1,026,135 | | | | | | 17,100 | | | | | —(2) | | | | | 19.45 | | | | | 11/30/2026 | | | | | 49,500 | | | | | 1,096,920 | | | |||||||||||||
| | | | | 17,100 | | | | | —(2) | | | | | 19.45 | | | | | 11/30/2026 | | | | | 40,800 | | | | | 845,784 | | | | | | 14,400 | | | | | —(3) | | | | | 19.31 | | | | | 12/2/2025 | | | | | 40,800 | | | | | 904,128 | | | |||||||||||||
| | | | | 14,400 | | | | | —(3) | | | | | 19.31 | | | | | 12/2/2025 | | | | | 35,300 | | | | | 731,769 | | | | | | 6,300 | | | | | —(4) | | | | | 20.28 | | | | | 12/3/2024 | | | | | — | | | | | — | | | |||||||||||||
| | | | | 6,300 | | | | | —(4) | | | | | 20.28 | | | | | 12/3/2024 | | | | | — | | | | | — | | | Zuehlke | | | | | — | | | | | —(1) | | | | | — | | | | | — | | | | | 16,900 | | | | | 374,504 | | | |||||||||||
| Zuehlke | | | | — | | | | | —(1) | | | | | — | | | | | — | | | | | 14,100 | | | | | 292,293 | | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 14,100 | | | | | 312,456 | | | |||||||||||||
| | | | | — | | | | | — | | | | | — | | | | | — | | | | | 12,700 | | | | | 263,271 | | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 12,700 | | | | | 281,432 | | | |||||||||||||
| | | | | — | | | | | — | | | | | — | | | | | — | | | | | 6,900 | | | | | 143,037 | | | Cornett | | | | | — | | | | | —(1) | | | | | — | | | | | — | | | | | 14,300 | | | | | 316,888 | | | |||||||||||
| Cornett | | | | — | | | | | —(1) | | | | | — | | | | | — | | | | | 9,700 | | | | | 201,081 | | | | | | 5,500 | | | | | —(2) | | | | | 19.45 | | | | | 11/30/2026 | | | | | 9,700 | | | | | 214,952 | | | |||||||||||||
| | | | | 5,500 | | | | | —(2) | | | | | 19.45 | | | | | 11/30/2026 | | | | | 9,300 | | | | | 192,789 | | | | | | 5,500 | | | | | —(3) | | | | | 19.31 | | | | | 12/2/2025 | | | | | 9,300 | | | | | 206,088 | | | |||||||||||||
| | | | | 5,500 | | | | | —(3) | | | | | 19.31 | | | | | 12/2/2025 | | | | | 4,500 | | | | | 93,285 | | | | | | 1,800 | | | | | —(4) | | | | | 20.28 | | | | | 12/3/2024 | | | | | — | | | | | — | | | |||||||||||||
| | | | | 1,800 | | | | | —(4) | | | | | 20.28 | | | | | 12/3/2024 | | | | | — | | | | | — | | | | | | 2,000 | | | | | —(5) | | | | | 17.63 | | | | | 12/5/2023 | | | | | — | | | | | — | | | |||||||||||||
| | | | | 2,000 | | | | | —(5) | | | | | 17.63 | | | | | 12/5/2023 | | | | | — | | | | | — | | | Garcia | | | | | — | | | | | —(1) | | | | | — | | | | | — | | | | | 5,700 | | | | | 126,312 | | | |||||||||||
| | | | | 1,500 | | | | | —(6) | | | | | 21.11 | | | | | 12/5/2022 | | | | | — | | | | | — | | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 3,600 | | | | | 79,776 | | | |||||||||||||
| Livingston | | | | — | | | | | —(1) | | | | | — | | | | | — | | | | | 6,000 | | | | | 124,380 | | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 3,700 | | | | | 81,992 | | | |||||||||||||
| | | | | — | | | | | — | | | | | — | | | | | — | | | | | 5,200 | | | | | 107,796 | | | Livingston | | | | | — | | | | | —(1) | | | | | — | | | | | — | | | | | 6,900 | | | | | 152,904 | | | |||||||||||
| | | | | — | | | | | — | | | | | — | | | | | — | | | | | 4,500 | | | | | 93,285 | | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 6,000 | | | | | 132,960 | | | |||||||||||||
| | | | — | | | | | — | | | | | — | | | | | — | | | | | 5,200 | | | | | 115,232 | | |
| | | | | | | | Number of Shares or Units of Stock That Have Not Vested | | | Market Value of Shares or Units of Stock That Have Not Vested(11) ($) | | | | | | | | | Number of Shares or Units of Stock That Have Not Vested | | | Market Value of Shares or Units of Stock That Have Not Vested(9) ($) | | ||||||||||||||||||||||||||||||||||||||||||||||
| | | Grant Date | | Restricted Stock Awards(8) (#) | | Performance Shares(9) (#) | | Performance Restricted Stock Units(10) (#) | | Total Shares (#) | | | | Grant Date | | Restricted Stock Awards(7) (#) | | Performance Restricted Stock Units(8) (#) | | Total Shares (#) | | ||||||||||||||||||||||||||||||||||||||||||||||||
| Griffiths | | | | 12/2/2020 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | Wilson | | | | | 12/9/2021 | | | | | 29,500 | | | | | 29,200 | | | | | 58,700 | | | | | 1,300,792 | | | ||||||||||
| | | | | 12/5/2019 | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | 12/2/2020 | | | | | 25,500 | | | | | 24,000 | | | | | 49,500 | | | | | 1,096,920 | | | ||||||||||||
| | | | | 12/5/2018 | | | | | 41,700 | | | | | — | | | | | 42,400 | | | | | 84,100 | | | | | 1,743,393 | | | | | | 12/5/2019 | | | | | 19,800 | | | | | 21,000 | | | | | 40,800 | | | | | 904,128 | | | ||||||||||||
| Wilson | | | | 12/2/2020 | | | | | 25,500 | | | | | — | | | | | 24,000 | | | | | 49,500 | | | | | 1,026,135 | | | Zuehlke | | | | | 12/9/2021 | | | | | 8,500 | | | | | 8,400 | | | | | 16,900 | | | | | 374,504 | | | ||||||||||
| | | | | 12/5/2019 | | | | | 19,800 | | | | | — | | | | | 21,000 | | | | | 40,800 | | | | | 845,784 | | | | | | 12/2/2020 | | | | | 7,300 | | | | | 6,800 | | | | | 14,100 | | | | | 312,456 | | | ||||||||||||
| | | | | 12/5/2018 | | | | | 17,500 | | | | | — | | | | | 17,800 | | | | | 35,300 | | | | | 731,769 | | | | | | 12/5/2019 | | | | | 6,200 | | | | | 6,500 | | | | | 12,700 | | | | | 281,432 | | | ||||||||||||
| Zuehlke | | | | 12/2/2020 | | | | | 7,300 | | | | | — | | | | | 6,800 | | | | | 14,100 | | | | | 292,293 | | | Cornett | | | | | 12/9/2021 | | | | | 7,200 | | | | | 7,100 | | | | | 14,300 | | | | | 316,888 | | | ||||||||||
| | | | | 12/5/2019 | | | | | 6,200 | | | | | — | | | | | 6,500 | | | | | 12,700 | | | | | 263,271 | | | | | | 12/2/2020 | | | | | 5,000 | | | | | 4,700 | | | | | 9,700 | | | | | 214,952 | | | ||||||||||||
| | | | | 12/5/2018 | | | | | 3,400 | | | | | — | | | | | 3,500 | | | | | 6,900 | | | | | 143,037 | | | | | | 12/5/2019 | | | | | 4,500 | | | | | 4,800 | | | | | 9,300 | | | | | 206,088 | | | ||||||||||||
| Cornett | | | | 12/2/2020 | | | | | 5,000 | | | | | — | | | | | 4,700 | | | | | 9,700 | | | | | 201,081 | | | Garcia | | | | | 12/9/2021 | | | | | 2,900 | | | | | 2,800 | | | | | 5,700 | | | | | 126,312 | | | ||||||||||
| | | | | 12/5/2019 | | | | | 4,500 | | | | | — | | | | | 4,800 | | | | | 9,300 | | | | | 192,789 | | | | | | 12/2/2020 | | | | | 3,600 | | | | | — | | | | | 3,600 | | | | | 79,776 | | | ||||||||||||
| | | | | 12/5/2018 | | | | | 4,500 | | | | | — | | | | | — | | | | | 4,500 | | | | | 93,285 | | | | | | 3/16/2020 | | | | | 3,700 | | | | | — | | | | | 3,700 | | | | | 81,992 | | | ||||||||||||
| Livingston | | | | 12/2/2020 | | | | | 3,100 | | | | | — | | | | | 2,900 | | | | | 6,000 | | | | | 124,380 | | | Livingston | | | | | 12/9/2021 | | | | | 3,500 | | | | | 3,400 | | | | | 6,900 | | | | | 152,904 | | | ||||||||||
| | | | | 12/5/2019 | | | | | 2,500 | | | | | — | | | | | 2,700 | | | | | 5,200 | | | | | 107,796 | | | | | | 12/2/2020 | | | | | 3,100 | | | | | 2,900 | | | | | 6,000 | | | | | 132,960 | | | ||||||||||||
| | | | | 02/4/2019 | | | | | 4,500 | | | | | — | | | | | — | | | | | 4,500 | | | | | 93,285 | | | | | | 12/5/2019 | | | | | 2,500 | | | | | 2,700 | | | | | 5,200 | | | | | 115,232 | | |
| | | | Option Awards | | | Stock Awards | | ||||||||||||||||||
| Name | | | Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise(1) ($) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting(2) ($) | | ||||||||||||
| Griffiths | | | | | 481,519 | | | | | | 2,690,353 | | | | | | 24,200 | | | | | | 523,688 | | |
| Wilson | | | | | 54,800 | | | | | | 234,499 | | | | | | 10,200 | | | | | | 220,728 | | |
| Zuehlke | | | | | 20,800 | | | | | | 113,671 | | | | | | 2,000 | | | | | | 43,280 | | |
| Cornett | | | | | 1,500 | | | | | | 10,560 | | | | | | 1,500 | | | | | | 32,460 | | |
| Livingston | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | Option Awards | | | Stock Awards | | ||||||||||||||||||
| Name | | | Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise(1) ($) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting(2) ($) | | ||||||||||||
| Wilson | | | | | — | | | | | | — | | | | | | 17,500 | | | | | | 391,825 | | |
| Zuehlke | | | | | — | | | | | | — | | | | | | 3,400 | | | | | | 76,126 | | |
| Cornett | | | | | 1,500 | | | | | | 5,835 | | | | | | 4,500 | | | | | | 100,755 | | |
| Garcia | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Livingston | | | | | — | | | | | | — | | | | | | 4,500 | | | | | | 97,740 | | |
| NEOs Eligible | | | Time Frame | | | Plan Name | | | Earnings | | | Formula | | | Form of Payment | |
| | | For salaried and non-union employees (12 month service commitment added in 2018). Frozen on January 1, 2020 | | | Pension Plan (Cash balance) | | | Salary and Bonus (Earnings up to the tax limit are included in the Plan; benefits on the excess are accrued under the Restoration Plan) | | | 4% of Earnings + Interest at the 30-year Treasury security in effect on the first day of the fifth month of the year(2) | | | Annuity or lump sum | | |
| Paul Cornett | | | For salaried and non-union employees who began participating at Quanex Corporation. | | | Pension Plan (Traditional) | | | Highest 5-calendar year monthly average of salary and bonus (Earnings up to the tax limit are included in the Plan; benefits on the excess are accrued under the Restoration Plan) | | | Greater of: (i) 1% of Pension Earnings (capped at Social Security covered compensation) plus 1.5% of Pension Earnings in excess of Social Security covered compensation x years of service (up to January 1, 2020) or (ii) $9.00 x years in service less monthly accrued benefits under other qualified defined benefit plans that consider years of service(2) | | | Monthly single life annuity | |
| All NEOs except Mark Livingston and Kim Garcia(1) | | | Highly compensated individuals designated by a Committee of the Board who participate in the Pension Plan | | | Restoration Plan | | | Earnings as defined under Pension Plan (without caps) | | | Benefit under Pension plan without cap less benefit under Pension Plan with cap(3) | | | Lump Sum(4) | |
| Name | | Plan Name | | Number of Years Credited Service (#) | | Present Value of Accumulated Benefit ($) | | Name | | Plan Name | | Number of Years of Credited Service (#) | | Present Value of Accumulated Benefit ($) | | ||||||||||||||||||
| William C. Griffiths | | Restoration Plan | | | | 6.49 | | | | | 388,324 | | | George Wilson | | | Restoration Plan | | | | 11.33 | | | | | 143,098 | | | |||||
| | | Pension Plan | | | | 6.49 | | | | | 77,776 | | | | Pension Plan | | | | 11.33 | | | | | 117,829 | | | |||||||
| George L. Wilson | | Restoration Plan | | | | 11.33 | | | | | 143,098 | | | Scott Zuehlke | | | Restoration Plan | | | | 3.94 | | | | | 17,513 | | | |||||
| | | Pension Plan | | | | 11.33 | | | | | 117,829 | | | | Pension Plan | | | | 3.94 | | | | | 58,001 | | | |||||||
| Scott M. Zuehlke | | Restoration Plan | | | | 3.94 | | | | | 17,513 | | | Paul Cornett | | | Restoration Plan | | | | 14.36 | | | | | 116,332 | | | |||||
| | | Pension Plan | | | | 3.94 | | | | | 58,001 | | | | Pension Plan | | | | 14.36 | | | | | 427,882 | | | |||||||
| Paul B. Cornett | | Restoration Plan | | | | 14.36 | | | | | 116,332 | | | Kim Garcia(1) | | | | | | — | | | | | — | | | ||||||
| | | Pension Plan | | | | 14.36 | | | | | 427,882 | | | Mark Livingston(1) | | | | | | — | | | | | — | | | ||||||
| Mark A. Livingston(1) | | | | | | — | | | | | — | | |
| Name | | NEO Contributions in the last fiscal year ($) | | Company Contributions in the last fiscal year ($) | | Aggregate Earnings in last fiscal year ($) | | Aggregate withdrawals/ distributions ($) | | Aggregate balance at last fiscal year end ($) | | Name | | NEO Contributions in last fiscal year ($) | | Company Contributions in last fiscal year ($) | | Aggregate Earnings in last fiscal year ($) | | Aggregate withdrawals/ distributions ($) | | Aggregate balance at last fiscal year end ($) | | ||||||||||||||||||||||||||||||||||||||||
| Wilson | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | | $ | — | | | Wilson | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||
| Griffiths | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | | $ | — | | | Zuehlke | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||
| Zuehlke | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | | $ | — | | | Cornett | | | | — | | | | | — | | | | | 746 | | | | | — | | | | | 43,026 | | | ||||||||||
| Cornett | | | | — | | | | | — | | | | $ | 746 | | | | $ | — | | | | $ | 43,026 | | | Garcia | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||
| Livingston | | | | — | | | | | — | | | | $ | — | | | | $ | — | | | | $ | — | | | Livingston | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | |
| | | Common Stock Owned of Record | | Restricted Stock Units | | Phantom Common Stock Credited Under DC Plan | | Common Stock Underlying Exercisable Options(1) | | Total | | Percent | | | | Common Stock Owned of Record | | Restricted Stock Units | | Phantom Common Stock Credited Under DC Plan | | Common Stock Underlying Exercisable Options(1) | | Total | | Percent | | ||||||||||||||||||||||||||||||||||||||||||||||||
| William C. Griffiths | | | | 252,619 | | | | | 5,954 | | | | | — | | | | | — | | | | | 258,573 | | | | | * | | | William C. Griffiths | | | | 252,619 | | | | | 10,792 | | | | | — | | | | | — | | | | | 263,411 | | | | | * | | | ||||||||||||
| George L. Wilson | | | | 148,743 | | | | | — | | | | | — | | | | | 37,800 | | | | | 186,543 | | | | | * | | | George L. Wilson | | | | 189,947 | | | | | — | | | | | — | | | | | 37,800 | | | | | 227,747 | | | | | * | | | ||||||||||||
| Scott M. Zuehlke | | | | 37,531 | | | | | — | | | | | — | | | | | — | | | | | 37,531 | | | | | * | | | Scott M. Zuehlke | | | | 48,955 | | | | | — | | | | | — | | | | | — | | | | | 48,955 | | | | | * | | | ||||||||||||
| Paul B. Cornett | | | | 27,973 | | | | | 7,816 | | | | | 2,404 | | | | | 14,800 | | | | | 52,993 | | | | | * | | | Paul B. Cornett | | | | 37,627 | | | | | — | | | | | 2,440 | | | | | 14,800 | | | | | 54,867 | | | | | * | | | ||||||||||||
| Mark A. Livingston | | | | 13,600 | | | | | — | | | | | — | | | | | — | | | | | 13,600 | | | | | * | | | Kimberley N. Garcia | | | | 14,640 | | | | | — | | | | | — | | | | | — | | | | | 14,640 | | | | | * | | | ||||||||||||
| Susan F. Davis | | | | — | | | | | 42,276 | | | | | 22,410 | | | | | 15,876 | | | | | 80,562 | | | | | * | | | Mark A. Livingston | | | | 13,600 | | | | | — | | | | | — | | | | | — | | | | | 13,600 | | | | | * | | | ||||||||||||
| Jason D. Lippert | | | | 20,450 | | | | | 4,797 | | | | | 596 | | | | | — | | | | | 25,843 | | | | | * | | | Susan F. Davis | | | | — | | | | | 47,114 | | | | | 22,749 | | | | | 9,889 | | | | | 79,752 | | | | | * | | | ||||||||||||
| Donald R. Maier | | | | — | | | | | 16,351 | | | | | — | | | | | — | | | | | 16,351 | | | | | * | | | Bradley Hughes | | | | — | | | | | 7,928 | | | | | 1,821 | | | | | — | | | | | 9,749 | | | | | * | | | ||||||||||||
| Meredith W. Mendes | | | | 700 | | | | | 13,505 | | | | | — | | | | | — | | | | | 14,205 | | | | | * | | | Jason D. Lippert | | | | 20,450 | | | | | 9,635 | | | | | 4,553 | | | | | — | | | | | 34,638 | | | | | * | | | ||||||||||||
| Joseph D. Rupp | | | | 45,910 | | | | | 42,276 | | | | | | | | | | 15,876 | | | | | 104,062 | | | | | * | | | Donald R. Maier | | | | — | | | | | 21,119 | | | | | — | | | | | — | | | | | 21,119 | | | | | * | | | ||||||||||||
| Curtis M. Stevens | | | | — | | | | | 24,420 | | | | | 15,452 | | | | | 15,876 | | | | | 55,748 | | | | | * | | | Meredith W. Mendes | | | | 700 | | | | | 18,343 | | | | | — | | | | | — | | | | | 19,043 | | | | | * | | | ||||||||||||
| William E. Waltz, Jr. | | | | — | | | | | 9,210 | | | | | 4,203 | | | | | — | | | | | 13,413 | | | | | * | | | Curtis M. Stevens | | | | — | | | | | 29,291 | | | | | 15,686 | | | | | 9,889 | | | | | 54,866 | | | | | * | | | ||||||||||||
| All Officers and Directors as a group | | | | 547,526 | | | | | 166,605 | | | | | 45,065 | | | | | 100,228 | | | | | 859,424 | | | | | 2.57 | | | William E. Waltz, Jr. | | | | — | | | | | 14,048 | | | | | 8,215 | | | | | — | | | | | 22,263 | | | | | * | | | ||||||||||||
| All Officers and Directors as a group | | | | 578,538 | | | | | 158,270 | | | | | 55,464 | | | | | 72,378 | | | | | 864,650 | | | | | 2.60 | | |
| | | FY 2021 | | FY 2020 | | | | FY 2022 | | FY 2021 | | ||||||||||||||||
| Audit Fees(1) | | | $ | 1,742,313 | | | | $ | 1,635,264 | | | Audit Fees(1) | | | $ | 1,795,268 | | | | $ | 1,742,313 | | | ||||
| Audit-Related Fees | | | | — | | | | | — | | | Audit-Related Fees | | | | — | | | | | — | | | ||||
| Tax Fees(2) | | | | — | | | | | 66,780 | | | Tax Fees | | | | — | | | | | — | | | ||||
| All Other Fees | | | | — | | | | | — | | | All Other Fees | | | | — | | | | | — | | | ||||
| Total | | | $ | 1,742,313 | | | | $ | 1,702,044 | | | Total | | | $ | 1,795,268 | | | | $ | 1,742,313 | | |
| Pertinent | | | Davis | | | Griffiths | | | | | Lippert | | | Maier | | | Mendes | | | Stevens | | | Waltz | | | Wilson | | ||||||||||||||||
| Operations / Manufacturing Process Expertise | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||
| Strategy Development and Implementation Expertise | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||
| CEO Experience | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||
| Accounting, CFO and/or Audit Committee Experience | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||
| | | ||||||||||||||||||||||||||||||||||||||||||
| IT/Cybersecurity Expertise | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||
| ESG/DE&I Expertise | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| Risk Management Experience | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||
| Building Products Experience | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||
| M&A Experience | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||
| Human Resources Experience | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||
| International Expertise | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||
| Ethnicity* | | | W | | | W | | | W | | | W | | | W | | | H | | | W | | | W | | | W | | |||||||||||||||
| Gender* | | | F | | | M | | | M | | | M | | | M | | | F | | | M | | | M | | | M | |
| Name and Address | | | Amount and Nature of Beneficial Ownership | | | Percent (%) | | ||||||
| BlackRock Institutional Trust Company, N.A. 400 Howard Street, San Francisco, CA 94105 | | | | | | | | | | ||||
| | |||||||||||||
| Allspring Global Investments, LLC 525 Market Street, 12th Floor, San Francisco, CA 94105 | | | | | | | | | | | | ||
| The Vanguard Group, Inc. PO Box 2600, V26, Valley Forge, PA 19482-2600 | | | | | 3,797,308(3) | | | | | | 11.4% | | |
| Dimensional Fund Advisors, L.P. 6300 Bee Cave Road, Building One, Austin, TX 78746 | | | | | | | | | | | |
| | | FY 2019 | | FY 2020 | | FY 2021 | | | | FY 2020 | | FY 2021 | | FY 2022 | | ||||||||||||||||||||||||
| Adjusted EBITDA | | | $ | 102.7 | | | | $ | 104.5 | | | | $ | 126.8 | | | Adjusted EBITDA | | | $ | 104.5 | | | | $ | 126.8 | | | | $ | 152.5 | | | ||||||
| Costs of goods sold(1) | | | | — | | | | | — | | | | | 0.3 | | | Cost of sales(1) | | | | — | | | | | 0.3 | | | | | — | | | ||||||
| Selling, general, and administrative adjustments(2) | | | | 4.5 | | | | | 1.4 | | | | | 1.9 | | | Selling, general, and administrative adjustments(2) | | | | 1.4 | | | | | 1.9 | | | | | 1.1 | | | ||||||
| Restructuring charges | | | | 0.4 | | | | | 0.6 | | | | | — | | | Restructuring charges | | | | 0.6 | | | | | — | | | | | — | | | ||||||
| Asset impairment charges | | | | 74.6 | | | | | — | | | | | — | | | Depreciation and amortization | | | | 47.2 | | | | | 42.7 | | | | | 40.1 | | | ||||||
| Depreciation and amortization | | | | 49.6 | | | | | 47.2 | | | | | 42.7 | | | Interest expense | | | | 5.2 | | | | | 2.5 | | | | | 2.6 | | | ||||||
| Interest expense | | | | 9.6 | | | | | 5.2 | | | | | 2.5 | | | Other, net | | | | (0.2) | | | | | (0.7) | | | | | (1.0) | | | ||||||
| Other, net | | | | (0.1) | | | | | (0.2) | | | | | (0.7) | | | Income tax expense | | | | 11.8 | | | | | 23.1 | | | | | 21.4 | | | ||||||
| Income tax expense | | | | 10.8 | | | | | 11.8 | | | | | 23.1 | | | Net income | | | $ | 38.5 | | | | $ | 57.0 | | | | $ | 88.3 | | | ||||||
| Net (loss) income | | | $ | (46.7) | | | | $ | 38.5 | | | | $ | 57.0 | | |