| | | JOHN R. HALEY Chairman March | |
| | | Date and Time | | | | | Place | | | | | Record Date | | | | | Live Audio Cast and Replay | | ||||
| Wednesday, April 11:00 a.m. Eastern Time | | | Watson Theater, Coker University 104 Campus Drive Hartsville, South Carolina | | | February at close of business | | | investor.sonoco.com | |
| Items of Business | | Board Recommendation | | See Page | | Items of Business | | Board Recommendation | | See Page | | ||||||||||||||||
| 1 | | Proposal 1—Election of 11 Directors | | | FOR all 11 nominees for director | | | 1 | | Proposal 1—Election of 11 Directors | | | FOR all 11 nominees for director | | | ||||||||||||
| 2 | | Proposal 2—Ratification of Independent Registered Public Accounting Firm | | | FOR | | | 2 | | Proposal 2—Ratification of Independent Registered Public Accounting Firm | | | FOR | | | ||||||||||||
| 3 | | Proposal 3—Advisory (Non-binding) Vote on Executive Compensation | | | FOR | | | 3 | | Proposal 3—Advisory (Non-binding) Vote on Executive Compensation | | | FOR | | | ||||||||||||
| 4 | | Proposal 4—Advisory (Non-binding) Vote on the Frequency of the Vote on Executive Compensation | | | FOR every ONE YEAR | | | 4 | | Proposal 4—Approval of the 2024 Omnibus Incentive Plan | | | FOR | | | ||||||||||||
| 5 | | Proposal 5—Advisory (Non-binding) Shareholder Proposal Regarding Special Shareholder Meeting Improvement | | | AGAINST | | | 5 | | Proposal 5—Advisory (Non-binding) Shareholder Proposal Regarding Transparency in Political Spending | | | AGAINST | | | ||||||||||||
| | | To transact any other business that properly comes before the meeting and at any adjournment or postponement of the meeting | | | | | | | | | | To transact any other business that properly comes before the meeting and at any adjournment or postponement of the meeting | | | | | | | |
| VOTE YOUR PROXY NOW | | | | | | | | |||
| SHAREHOLDERS OF RECORD (Shares registered with Sonoco at Continental Stock Transfer & Trust) | | | (866) 894-0536 | | | www.cstproxyvote.com | | | Sign, date, and mail the enclosed proxy card | |
| BENEFICIAL OWNERS (Shares held with a bank or broker) | | | See the enclosed voting instruction form | | | See the enclosed voting instruction form | | | Sign, date, and mail the enclosed voting instruction form | |
| | | By order of the Board of Directors, JOHN M. FLORENCE, JR. General Counsel & Secretary | |
| | ELECTRONIC ACCESS TO ANNUAL MEETING MATERIALS | | | IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE SHAREHOLDERS MEETING TO BE HELD ON APRIL | | |
| Sonoco’s via the Internet at http://www.cstproxy.com/sonoco/ | | |
| Founded in 1899, Sonoco (NYSE: SON) (“Sonoco,” the “Company,” “we,” and “us”) is a global provider of highly engineered and sustainable packaging products. With net sales of approximately | | | | |
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| Sonoco provides products and services to our customers in two reportable segments: Consumer Packaging and Industrial Paper Packaging. The Consumer segment provides customers with a variety of food and household packaging products through our rigid packaging products (paper, metal, and plastic containers) as well as flexible packaging products (plastic and paper). Our Industrial segment provides high grade paper products and converting services to a number of customers in the consumer staple, consumer durables, and industrial markets. Sonoco’s paper products are | | | |
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| | OUR GUIDING PRINCIPLE “People build businesses by doing the right thing” OUR CORE VALUES | | | ||||||||||||
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| | RESPECT | | | TEAMWORK | | | SERVICE | | | INTEGRITY | | | ACCOUNTABILITY | | |
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| | 1. GOVERNANCE | | | 2. SUSTAINABLE OPERATIONS | | | 3. SUSTAINABLE PRODUCTS | | | 4. PEOPLE | | | 5. LOCAL COMMUNITIES | | |
| | | Sonoco is committed to strong governance policies and practices that foster accountability to all our stakeholders. In line with our Guiding Principle of “Doing the Right Thing” and our Core Values, we operate our business with integrity and high ethical standards. | | ||||
| We have implemented programs to ensure compliance with applicable laws and regulations governing ethical business practices, including our relationships with suppliers, customers and business partners, and our industry. Sonoco’s Corporate Governance Guidelines, along with the Restated Articles of Incorporation and By-Laws, establish a comprehensive framework for the governance of the Company to promote accountability and transparency for our Board of Directors and management team. Our governance policies and practices include: • Board comprised of a majority of independent directors (with nine of 11 directors being independent as set forth by the guidelines of the New York Stock Exchange); • Regular meetings of independent directors without management • Appointment of a Lead Independent Director with defined and significant • New director orientation and continuing director education opportunities provided by the • Annual self-evaluations and individual performance reviews of • Stock ownership guidelines for directors and executive • Shareholder right to request a special shareholder meeting at 15% ownership threshold; and • Majority vote standard in an uncontested director election. | |
| | | Sonoco believes that in order to achieve our mission of improving the quality of life for people around the world, we must do our part to address global climate change. | | ||||
| We are committed to advancing our environmental progress by setting ambitious • Sonoco is committed to reducing absolute scope 1 and 2 greenhouse gas (“GHG”) emissions by 25% by 2030 from a 2020 base year. • Sonoco is committed to reducing absolute scope 3 greenhouse gas emissions by 13.5% by 2030 from a 2019 base year, by working with our customers and suppliers to develop innovative packaging solutions that reduce packaging waste and improve recyclability. | | | |
| | | As a leading recycler in the United States, with recycling capabilities across the globe, Sonoco is | |
| We | | | |
| | | Sonoco’s core belief that “People Build Businesses” underlies our efforts to attract, develop and retain talented employees for our global businesses. | | ||||
| We bring more to packaging than just the package. Our integrated packaging solutions help define brand personalities, create differentiated customer experiences, and enhance the quality of products and the quality of life for people around the world. We depend on our employees to achieve our mission of creating sustainable packaging solutions that: • build our customers’ • enhance the quality of their • improve the quality of life for people around the world. We work towards this goal by establishing a foundation for actions that support: • health and • diversity, equity and inclusion (“DEI”); and • talent development. | |
| | | We use global and local incident data along with | |
| To promote the prevention of more significant Life Changing Events, which are injuries or incidents that cause or have the potential to cause permanent disabilities or the loss of life: • We continue to engage with outside experts to conduct assessments of high-risk activities and • • Finally, our operations leadership | | | |
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| | | For the past | |
| We have continued to build our Supplier Diversity program since 2004, integrating | | | | | | Dedicated Supplier Diversity program for | |
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| | | Through strategic nonprofit partnerships, pro bono work, volunteerism and philanthropy, our corporate responsibility | | ||||
| | | | We are focused on making a positive impact in our communities through: • charity and fundraising, • educational sponsorship, and • local community development. | |
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| In | | | The Sonoco Foundation donated $150,000 to | |
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| We | | | A multi-year grant totaling $500,000 was awarded to the Darlington County Humane Society to create an educational center and mentoring facility. | |
| | | Manufacturing Experience | | | ● ● ● ● ● ● ● ● ● ● ● | | | 6 of 11 | | |
| | | Financial Experience | | | ● ● ● ● ● ● ● ● ● ● ● | | | 7 of 11 | | |
| | | Business Strategy Experience | | | ● ● ● ● ● ● ● ● ● ● ● | | | 11 of 11 | | |
| | | CEO Experience | | | ● ● ● ● ● ● ● ● ● ● ● | | | 8 of 11 | | |
| | | International Business Experience | | | ● ● ● ● ● ● ● ● ● ● ● | | | 6 of 11 | | |
| | | Other Public Board Experience | | | ● ● ● ● ● ● ● ● ● ● ● | | | 8 of 11 | |
| | | | | | | | | | | | | | | | | | | Sonoco Committee Membership | | | | | | ||||||||||||||||||||
Director Name and Principal Occupation | | | | | | Age | | | Director since | | | Independent | | | | Audit | | | | Corporate Governance and Nominating | | | | Executive Compensation | | | | Employee and Public Responsibility | | | | Financial Policy | | | | Executive | | | | |||||
| | Steven L. Boyd Chairman of the Board of Trustees, Johnson C. Smith University | | | | | | 65 | | | 2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
| | R. Howard Coker President and Chief Executive Officer, Sonoco | | | | | | 60 | | | 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||
| | Dr. Pamela L. Davies President Emerita and Professor of Strategy, Queens University of Charlotte | | | | | | 66 | | | 2004 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||
| | Theresa J. Drew Former Managing Partner in Charlotte, NC, Deloitte; CPA | | | | | | 65 | | | 2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
| | Philippe Guillemot Chief Executive Officer and Director, Vallourec SA | | | | | | 63 | | | 2017 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
| | John R. Haley Chief Executive Officer, Gosiger, Inc. | | | | | 61 | | | 2011 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||
| | Robert R. Hill Jr. Executive Chairman, South State Corporation | | | | | 56 | | | 2019 | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||
| | Eleni Istavridis Former Executive Vice President and Head of Investment Services for Asia Pacific, Bank of New York Mellon | | | | | | 65 | | | 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
| | Richard G. Kyle President and Chief Executive Officer and Director The Timken Company | | | | | | 57 | | | 2015 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||
| | Blythe J. McGarvie Speaker and podcast host, The Buffett Institute of Global Affairs; CPA | | | | | | 66 | | | 2014 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||
| | Thomas E. Whiddon Former Advisory Director, Berkshire Partners, LLC | | | | | | 70 | | | 2001 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||
Number of 2022 Meetings | | | | | | | | | Board—6 | | | | 8 | | | | 5 | | | | 6 | | | | 4 | | | | 4 | | | | 4 | | | |
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Director Name and Principal Occupation | | | | | | Age | | | Director Since | | | Independent | | | | Audit | | | | Corporate Governance and Nominating | | | | Executive Compensation | | | | Employee and Public Responsibility | | | | Financial Policy | | | | Executive | | | |||
| | Steven L. Boyd Chairman of the Board of Trustees, Johnson C. Smith University | | | | | | 66 | | | 2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||
| | R. Howard Coker President and Chief Executive Officer, Sonoco | | | | | | 61 | | | 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | Dr. Pamela L. Davies President Emerita and Professor of Strategy, Queens University of Charlotte | | | | | | 67 | | | 2004 | | | | | | | | | | | | | | | | | | | | | | | | | | |||||
| | Theresa J. Drew Former Managing Partner Carolinas Practice, Deloitte; CPA | | | | | | 66 | | | 2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||
| | Philippe Guillemot Chief Executive Officer and Chairman, Vallourec SA | | | | | | 64 | | | 2017 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||
| | John R. Haley Chief Executive Officer, Gosiger, Inc. | | | | | 62 | | | 2011 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| | Robert R. Hill Jr. Former Executive Chairman, South State Corporation | | | | | 57 | | | 2019 | | | | | | | | | | | | | | | | | | | | | | | | | |||||||
| | Eleni Istavridis Former Executive Vice President and Head of Investment Services for Asia Pacific, Bank of New York Mellon | | | | | | 66 | | | 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||
| | Richard G. Kyle President and Chief Executive Officer and Director The Timken Company | | | | | | 58 | | | 2015 | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
| | Blythe J. McGarvie Former instructor at Harvard Business School; Former CFO, Bic Group and Hannaford Bros. Co.; CPA | | | | | | 67 | | | 2014 | | | | | | | | | | | | | | | | | | | | | | | | | | |||||
| | Thomas E. Whiddon Former Advisory Director, Berkshire Partners, LLC | | | | | | 71 | | | 2001 | | | | | | | | | | | | | | | | | | | | | | | | | | |||||
Number of 2023 Meetings | | | | | | | | | Board—5 | | | | 8 | | | | 4 | | | | 4 | | | | 4 | | | | 4 | | | | 1 | | |
| | | Chairman of the Board of Directors | | | | | Lead Independent Director | | | | | Committee Chair | | | | | Committee Member | | | | | Financial Expert | |
| | PROPOSAL 1 | | | | | | The Board of Directors recommends that you vote FOR all nominees. | | |
| | ELECTION OF DIRECTORS | | |
| • Steven L. Boyd | | | • Philippe Guillemot | | | • Richard G. Kyle | |
| • R. Howard Coker | | | • John R. Haley | | | • Blythe J. McGarvie | |
| • Dr. Pamela L. Davies | | | • Robert R. Hill, Jr. | | | • Thomas E. Whiddon | |
| • Theresa J. Drew | | | • Eleni Istavridis | | | | |
| STEVEN L. BOYD | | ||||||
| Age 66 December | | | Career Highlights Johnson C. Smith University (institution of higher learning) • Chairman of the Board of Trustees, Johnson C. Smith University, his alma mater (July 2022-present) • Trustee (2009-present) • Interim President (Summer 2023) Tate & Lyle PLC • Vice President, Sales, North America (2012-2014, retirement) The Coca-Cola Company • Served in various roles, including Northeast Region Vice President (2000-2011) The Minute Maid Company • Vice President (1987-1999) Previous Board Service • Served on numerous non-profit boards | | | Qualifications Mr. Boyd brings extensive experience as an executive leader. His knowledge of consumer products, customer management, product distribution, acquisition integration, community relations, and marketing and sales operations add valuable insight to Committees • Audit • Employee and Public Responsibility | |
| R. HOWARD COKER | | ||||||
| Age Board member since 2020 | | | Career Highlights Sonoco Products Company • President, • Senior Vice President, Paper and Industrial Converted Products (2019-2020) • Senior Vice President, Global Rigid Paper & Closures and Paper/Engineered Carriers International (2017-2018) • Group Vice President, Global Rigid Paper & Closures, and Paper & Industrial Converted Products, EMEA, Asia, Australia/New Zealand (2015-2017) • Group Vice President, Global Rigid Paper & Plastics • Vice President, Global Rigid Paper & Closures • Vice President and General Manager, Rigid Paper & Closures, N.A. • Division Vice President and General Manager, Rigid Paper & Closures • Joined Sonoco in 1985 Other Current Board Service • AF&PA | | | Mr. Coker is the brother-in-law of J.R. Haley, Chairman of Qualifications Mr. Coker’s strong operating acumen, diverse experience, deep connection within the organization, and his leadership style and vision for the Committees • Executive | |
| DR. PAMELA L. DAVIES | | ||||||
| Age 67 | | | Career Highlights Queens University of Charlotte (institution of higher learning), Charlotte, NC • President Emerita and Professor of Strategy (2019-present) • President (2002-2019) • Dean of the McColl School of Business Drexel University • Dean of the Lebow College of Business Other Current Board Service • The Cato Corporation • Advocate Health (Chair elect) • The Center for Creative Leadership • Board of Trustees, the Duke Endowment • Board of Trustees, Princeton Theological Seminary Previous Board Service • Family Dollar Stores, Inc. (2009-2015) • Charming Shoppes (1998-2009) • C&D Technologies, Inc. (1998-2010) • YMCA of the USA (2010-February 2024) | | | Qualifications Dr. Davies brings to Committees • Corporate Governance and Nominating • Employee and Public Responsibility (Chair) • Executive Compensation | |
| THERESA J. DREW | | ||||||
| Age 66 | | | Career Highlights Deloitte & Touche LLP • The Carolinas Practice Managing Partner and various other leadership roles (1979-2019, retirement) • Certified Public Accountant Other Current Board Service • The Cato Corporation (NYSE: CATO) • Chair elect, Carolinas Chapter of the National Association of Corporate Directors Previous Board Service • • University of North Carolina Charlotte, Board of Trustees (2013-2021) • Served on numerous additional non-profit boards | | | Qualifications Mrs. Drew has forty years of accounting and consuting experience with Deloitte, which has provided her with in-depth financial, auditing, and accounting experience related to various businesses and industries, as well as senior leadership experience. Her service on a board and audit committee of another public company provides her with additional regulatory and corporate governance experience. The Board has determined that Ms. Drew is an audit committee financial expert within the meaning of the rules of the Securities and Exchange Committees • Audit (Chair and Financial Expert) • Financial Policy | |
| PHILIPPE GUILLEMOT | | ||||||
| Age 64 | | | Career Highlights Vallourec SA • Chief Executive Officer and Elior Group SA (a French catering and support services firm) • Chief Executive Officer and Director (2017-2022) Alcatel-Lucent SA, Boulogne-Billancourt, France • Chief Operating Officer (2013-2016, prior to its acquisition by Nokia Europcar Group • Chief Executive Officer and Director Areva Transmission & Distribution (T&D) • Chairman and Chief Executive Officer Faurecia SA • Group Executive Vice President Valeo • Group Vice President Michelin • Other Current Board Service • Vallourec SA (Euronext Paris: VK) Previous Board Service • Elior Group (2018-2022) • • • Europcar Group (2010-2012) | | | Qualifications Mr. Guillemot possesses a wealth of executive leadership experience. His experience as an executive officer and director of other public manufacturing companies provides him with valuable corporate governance, financial, and regulatory knowledge. Mr. Guillemot brings global experience and leadership, including with respect to operations in Europe where Committees • Employee and Public Responsibility • Financial Policy | |
| JOHN R. HALEY Chairman of the Board since 2019 | | |||||||||
| Age Board member since 2011 | | | Career Highlights Gosiger, Inc. • Chief Executive Officer (2010-present) • Managing Partner • Division Vice President Other Current Board Service • The Ultra-met Carbide Technologies (privately held) • | | | Mr. Haley is the brother-in-law of | Qualifications Mr. Haley has extensive executive leadership experience in the manufacturing Committees • Executive (Chair) | |
| ROBERT R. HILL JR. Lead Independent Director since 2022 | | ||||||
| Age 57 | | | Career Highlights South State Corporation • Executive Chairman and Director • Chief Executive Officer (2004-2020) • President and Chief Operating Officer (1999-2004) • South State Corporation • The Federal Reserve Bank of Richmond, serving as Audit Committee chair (2015-2020) | | | Qualifications Mr. Hill brings to Committees • Corporate Governance and Nominating (Chair) • Executive • Executive Compensation • Financial Policy | |
| ELENI ISTAVRIDIS | | ||||||
| Age 66 | | | Career Highlights Bank of New York Mellon (a global commercial banking company) • Executive Vice President and Head of Investment Services for Asia (2011-2015, retirement) • Member of the Global Operating Committee and Global Investment Services Executive Committee Adept Capital Partners • Managing Partner Tristate Holdings (an Asia-based apparel manufacturing company) • President and Chief Operating Officer Deutsche Bank and Bankers Trust • Senior leadership positions in the United States and Asia, spanning 33 years in financial services and manufacturing Other Current Board Service • Sappi Limited (OTCMKTS: SPPJY) | | | Qualifications Ms. Istavridis has a wealth of experience in banking, manufacturing, and business development. She brings extensive global experience and leadership to Committees • Employee and Public Responsibility • Financial Policy | |
| RICHARD G. KYLE | | ||||||
| Age 58 | | | Career Highlights The Timken Company • President and Chief Executive Officer and Director (2014-present) • Chief Operating Officer, Bearings and Power Transmissions Group • Group President, Aerospace and Steel • President, Aerospace and Mobile Industries Cooper Industries • Various management positions Hubbell, Inc. • Various management positions Other Current Board Service • Timken | | | Qualifications Mr. Kyle has broad operational leadership expertise gained in global manufacturing organizations. As a member of the board of The Timken Company, he also brings a valuable understanding of regulatory and corporate governance issues. Committees • Audit • • • Executive Compensation (Chair) | |
| BLYTHE J. McGARVIE | | ||||||
| Age 67 | | | Career Highlights • • Certified Public Accountant Leadership for International Finance, LLC • Founder and Chief Executive Officer BIC Group and Hannaford Bros. Co. • Chief Financial Officer Other Current Board Service • Apple Hospitality REIT, Inc. (NYSE: APLE) • LKQ Corporation (NASDAQ: LKQ) • Cineworld Group • Wawa, Inc. Previous Board Service • Viacom, Inc. (2007-2017) • Accenture plc (2001-2017) • Travelers Insurance (2003-2011) • Pepsi Bottling Group (2002-2010) • Lafarge NA (2004-2006) | | | Ms. McGarvie is a Certified Public Accountant and holds a CERT Certificate in Cybersecurity Oversight (issued by the CERT Division of the Software Engineering Institute at Carnegie Mellon University) Qualifications Ms. McGarvie has significant financial, technological, and general leadership expertise. Her service on the boards of other public companies also provides her with valuable regulatory experience and an understanding of corporate governance issues. Committees • Audit • Employee and Public Responsibility • Financial Policy (Chair) | |
| THOMAS E. WHIDDON | | ||||||
| Age 71 | | | Career Highlights Berkshire Partners, LLC • Advisory Director (2005-2013, retirement) • Served various Berkshire portfolio companies in an executive capacity on an interim basis Lowe’s Companies, Inc. • Executive Vice President—Logistics and Technology • Executive Vice President and Chief Financial Officer Previous Board Service • Dollar Tree Stores, Inc. (2003-2022) • Carter’s Inc. (2003-2021) | | | Qualifications Mr. Whiddon’s general management, information technology and logistics expertise, strong financial acumen, and experience with retail end markets are beneficial to Committees • Audit (Financial Expert) • • | |
| • Steven L. Boyd | | | • Philippe Guillemot | | | • Richard G. Kyle | |
| • Pamela L. Davies | | | • Robert R. Hill Jr. | | | • Blythe J. McGarvie | |
| • Theresa J. Drew | | | • Eleni Istavridis | | | • Thomas E. Whiddon | |
| | | | | | | | Sonoco Independent Committee Membership | | | | | | | | | | | | | Sonoco Independent Committee Membership | | | | | ||||||||||||||||||||||||||||
| Director | | | | Independent | | Audit | | Executive Compensation | | Corporate Governance and Nominating | | Employee and Public Responsibility | | Financial Policy | | | | Executive Committee | | Director | | | | Independent | | Audit | | Executive Compensation | | Corporate Governance and Nominating | | Employee and Public Responsibility | | Financial Policy | | Executive Committee | | |||||||||||||||
| Steven L. Boyd | | | | | | | | | | | | | | | | | Steven L. Boyd | | | | | | | | | | | | | | | |||||||||||||||||||||
| R. Howard Coker | | | | | | | | | | | | | | | | | | | R. Howard Coker | | | | | | | | | | | | | | | | | |||||||||||||||||
| Pamela L. Davies | | | | | | | | | | | | | | | | Pamela L. Davies | | | | | | | | | | | | | | |||||||||||||||||||||||
| Theresa J. Drew | | | | | | | | | | | | | | | | | Theresa J. Drew | | �� | | | | | | | | | | | | | |||||||||||||||||||||
| Philippe Guillemot | | | | | | | | | | | | | | | | | Philippe Guillemot | | | | | | | | | | | | | | | |||||||||||||||||||||
| John R. Haley | | | | | | | | | | | | | | | | | | John R. Haley | | | | | | | | | | | | | | | | |||||||||||||||||||
| Robert R. Hill Jr. | | | | | | | | | | | | | | Robert R. Hill, Jr. | | | | | | | | | | | | |||||||||||||||||||||||||||
| Eleni Istavridis | | | | | | | | | | | | | | | | | Eleni Istavridis | | | | | | | | | | | | | | | |||||||||||||||||||||
| Richard G. Kyle | | | | | | | | | | | | | | | | Richard G. Kyle | | | | | | | | | | | | | ||||||||||||||||||||||||
| Blythe J. McGarvie | | | | | | | | | | | | | | | | Blythe J. McGarvie | | | | | | | | | | | | | | |||||||||||||||||||||||
| Thomas E. Whiddon | | | | | | | | | | | | | | | | Thomas E. Whiddon | | | | | | | | | | | | | | |||||||||||||||||||||||
| Number of 2022 Meetings | | 8 | | 6 | | 5 | | 4 | | 4 | | | | 4 | | Number of 2023 Meetings | | 8 | | 4 | | 4 | | 4 | | 4 | | 1 | |
| | | Chairman of the Board of Directors | | | | | Lead Independent Director | | | | | Committee Chair | | | | | Committee Member | | | | | Financial Expert | |
| AUDIT COMMITTEE Meetings in | | |||
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| Theresa J. Drew (Chair) | | |||
| Qualifications • Each member of the Audit Committee meets the independence criteria established by the • Each member of the Audit Committee is financially • Each of Ms. Drew and Mr. Whiddon is an “audit committee financial expert” as defined in Item 407(d)(5) of Regulation S-K under the Exchange | | | Key Responsibilities • integrity of the Company’s financial • • the Company’s compliance with legal and regulatory • independent auditor’s qualifications and • performance of the independent auditor and the Company’s internal audit function. Among its responsibilities, the committee is directly responsible for the: • appointment, compensation, and retention of the independent auditor and for overseeing the performance of attest services provided to the • reviewing compliance with the major accounting and financial policies of the • reviewing management’s assessment of the • reviewing significant findings of the Company’s internal audit function and the independent • reviewing the independence of the independent • reviewing the results of the annual audit of the Company’s financial • overseeing compliance with the Company’s code of business • overseeing the Company’s enterprise risk | |
| EXECUTIVE COMPENSATION COMMITTEE Meetings in | | |||
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| Richard G. Kyle (Chair) | Dr. Pamela L. Davies | Robert R. Hill, Jr. | Thomas E. Whiddon | | |||
| Qualifications • Each member of the Executive Compensation Committee qualifies as a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act, and each member of the Executive Compensation Committee is an independent director under the applicable standards of the New York Stock | | | Key Responsibilities The Executive Compensation Committee: • establishes the Company’s general compensation • oversees the development and implementation of compensation • directly oversees the administration of the Company’s executive officer compensation • reviews and approves corporate goals and • evaluates actual performance against those goals and • sets compensation for the Chief Executive Officer, Chief Financial Officer, and other executive The committee does not delegate its decision-making authority relating to executive compensation. Further information about the committee’s processes and procedures relating to the consideration of executive compensation is set forth under the caption “Executive Compensation—Compensation Discussion and Analysis—Role of Independent Compensation Consultant”. | |
| CORPORATE GOVERNANCE AND NOMINATING COMMITTEEMeetings in | | |||
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| Robert R. Hill, Jr. (Chair) | Dr. Pamela L. Davies | Richard G. Kyle | Thomas E. Whiddon | | |||
| Qualifications • Each member of the Corporate Governance and Nominating Committee is an independent director under the applicable standards of the New York Stock | | | Key Responsibilities The Corporate Governance and Nominating Committee is responsible for: • developing and implementing corporate governance guidelines addressing the structure, mission, practices, and policies of the Board of • • • | |
| EMPLOYEE AND PUBLIC RESPONSIBILITY COMMITTEEMeetings in | | |||
| | ||||
| Dr. Pamela L. Davies (Chair) | Steven L. Boyd | Philippe Guillemot | Eleni Istavridis | Blythe J. McGarvie | | |||
| Key Responsibilities The Employee and Public Responsibility Committee: • provides oversight and guidance on • oversees the Company’s obligations to its employees and major public constituencies, including shareholders, customers, and the communities in which it operates. | |
| FINANCIAL POLICY COMMITTEE Meetings in | | |||
| | ||||
| Blythe J. McGarvie (Chair) | Theresa J. Drew | Philippe Guillemot | Robert R. Hill, Jr. | Eleni Istavridis | | |||
| Key Responsibilities The Financial Policy Committee: • provides oversight and monitoring of the Company’s financial planning and financial structure so as to provide congruence with the Company’s objectives of growth and sound • reviews and evaluates the Company’s capital structure, significant financing transactions, financial risk management policies and practices, and investment funding and management of the Company’s defined benefit and postretirement benefit plans. | |
| EXECUTIVE COMMITTEE Meetings in | | |||
| John R. Haley (Chair) |R. Howard Coker | | | |||
| Key Responsibilities The Executive Committee is empowered to exercise all | |
| 2023 Quarterly Director Compensation | | | Additional Cash Compensation | | ||||||
| | | | Quarterly Retainers | | | 1st Quarter 2023 | | | Effective 2nd Quarter 2023 | |
| | | | | |||||||
| Chairman of the Board | | | $37,500 | | | $37,500 | | |||
| Lead Independent Director | | | 7,500 | | | 7,500 | | |||
| Committee Chairs: | | | | | | | | |||
| • Audit | | | 6,250 | | | 6,250 | | |||
| • Executive Compensation | | | 5,000 | | | 5,000 | | |||
| • Corporate Governance and Nominating, Financial Policy, and Employee and Public Responsibility | | | 4,375 | | | 4,375 | | |||
| Attendance for each Board and each Committee meeting | | | 1,500 | | | 0 | |
| | | | Additional Cash Compensation | | ||||||
| 2022 Quarterly Director Compensation | | | Quarterly Retainers | | | 1st Quarter 2022 | | | Effective 2nd Quarter 2022 | |
| | | | | |||||||
| Chairman of the Board | | | $37,500 | | | $37,500 | | |||
| Lead Independent Director | | | 7,500 | | | 7,500 | | |||
| Committee Chairs: | | | | | | | | |||
| • Audit | | | 5,625 | | | 6,250 | | |||
| • Executive Compensation | | | 4,375 | | | 5,000 | | |||
| • Governance, Financial Policy, and Employee and Public Responsibility | | | 3,750 | | | 4,375 | | |||
| Attendance for each Board and each Committee meeting | | | 1,500 | | | 1,500 | |
| Name | | Fees Earned or Paid in Cash(1) ($) | | Stock Awards(2) ($) | | Total ($) | | Name | | Fees Earned or Paid in Cash(1) ($) | | Stock Awards(2) ($) | | Total ($) | | ||||||||||||||||||||||||
| John R. Haley | | | | 0 | | | | $ | 377,250 | | | | $ | 377,250 | | | John R. Haley | | | | 0 | | | | $ | 396,500 | | | | $ | 396,500 | | | ||||||
| Steven L. Boyd(3) | | | $ | 28,375 | | | | | 0 | | | | | 28,375 | | | Steven L. Boyd | | | $ | 108,500 | | | | | 142,500 | | | | | 251,000 | | | ||||||
| Pamela L. Davies | | | | 128,375 | | | | | 133,750 | | | | | 262,125 | | | Pamela L. Davies | | | | 126,000 | | | | | 142,500 | | | | | 268,500 | | | ||||||
| Theresa J. Drew | | | | 108,500 | | | | | 133,750 | | | | | 242,250 | | | Theresa J. Drew | | | | 108,500 | | | | | 142,500 | | | | | 251,000 | | | ||||||
| Philippe Guillemot | | | | 101,000 | | | | | 133,750 | | | | | 234,750 | | | Philippe Guillemot | | | | 107,000 | | | | | 142,500 | | | | | 249,500 | | | ||||||
| Robert R. Hill, Jr. | | | | 23,750 | | | | | 249,750 | | | | | 273,500 | | | Robert R. Hill, Jr. | | | | 47,500 | | | | | 251,000 | | | | | 298,500 | | | ||||||
| Eleni Istavridis | | | | 102,500 | | | | | 133,750 | | | | | 236,250 | | | Eleni Istavridis(3) | | | | 107,000 | | | | | 142,500 | | | | | 249,500 | | | ||||||
| Richard G. Kyle | | | | 131,000 | | | | | 133,750 | | | | | 264,750 | | | Richard G. Kyle | | | | 130,000 | | | | | 142,500 | | | | | 272,500 | | | ||||||
| Blythe J. McGarvie | | | | 128,375 | | | | | 133,750 | | | | | 262,125 | | | Blythe J. McGarvie | | | | 127,500 | | | | | 142,500 | | | | | 270,000 | | | ||||||
| James M. Micali(4) | | | | 81,125 | | | | | 66,250 | | | | | 147,375 | | | Thomas E. Whiddon | | | | 135,000 | | | | | 142,500 | | | | | 277,500 | | | ||||||
| Sundaram Nagarajan(4) | | | | 0 | | | | | 179,500 | | | | | 179,500 | | | |||||||||||||||||||||||
| Marc D. Oken(4) | | | | 64,375 | | | | | 66,250 | | | | | 130,625 | | | |||||||||||||||||||||||
| Thomas E. Whiddon | | | | 140,375 | | | | | 133,750 | | | | | 274,125 | | | |||||||||||||||||||||||
| Lloyd M. Yates(4) | | | | 33,500 | | | | | 32,500 | | | | | 66,000 | | |
| Name | | Fees Deferred into Equivalent Stock Units(1) ($) | | Payout Schedule Election in Years | | Name | | Fees Deferred into Equivalent Stock Units(1) ($) | | Payout Schedule Election in Years | | ||||||||||||||||
| John R. Haley(2) | | | | 377,250 | | | | | 5 | | | John R. Haley(2) | | | $ | 396,500 | | | | | 5 | | | ||||
| Steven L. Boyd(6) | | | | N/A | | | | | N/A | | | Steven L. Boyd | | | | 142,500 | | | | | 3 | | | ||||
| Pamela L. Davies | | | | 133,750 | | | | | 1 | | | Pamela L. Davies | | | | 142,500 | | | | | 1 | | | ||||
| Theresa J. Drew | | | | 133,750 | | | | | 1 | | | Theresa J. Drew | | | | 142,500 | | | | | 1 | | | ||||
| Philippe Guillemot | | | | 133,750 | | | | | 3 | | | Philippe Guillemot | | | | 142,500 | | | | | 1 | | | ||||
| Robert R. Hill, Jr.(3) | | | | 249,750 | | | | | 3 | | | Robert R. Hill, Jr.(3) | | | | 251,000 | | | | | 3 | | | ||||
| Eleni Istavridis | | | | 133,750 | | | | | 1 | | | Eleni Istavridis | | | | 142,500 | | | | | 5 | | | ||||
| Richard G. Kyle | | | | 133,750 | | | | | 5 | | | Richard G. Kyle | | | | 142,500 | | | | | 5 | | | ||||
| Blythe J. McGarvie | | | | 133,750 | | | | | 1 | | | Blythe J. McGarvie | | | | 142,500 | | | | | 1 | | | ||||
| James M. Micali(5) | | | | 66,250 | | | | | 1 | | | Thomas E. Whiddon | | | | 142,500 | | | | | 1 | | | ||||
| Sundaram Nagarajan(4)(5) | | | | 179,500 | | | | | 5 | | | ||||||||||||||||
| Marc D. Oken(5) | | | | 66,250 | | | | | 1 | | | ||||||||||||||||
| Thomas E. Whiddon | | | | 133,750 | | | | | 3 | | | ||||||||||||||||
| Lloyd M. Yates(5) | | | | 32,500 | | | | | 3 | | |
| | | | Fees Deferred into Equivalent Stock Units | | | | | Fees Deferred into Equivalent Stock Units | | ||||||||||||||||||
| Name | | Shares (#) | | Value(1) ($) | | Name | | Shares (#) | | Value(1) ($) | | ||||||||||||||||
| John R. Haley | | | | 47,874 | | | | | 2,906,418 | | | John R. Haley | | | | 57,006 | | | | $ | 3,184,906 | | | ||||
| Steven L. Boyd(2) | | | | 0 | | | | | 0 | | | Steven L. Boyd | | | | 0 | | | | | 0 | | | ||||
| Pamela L. Davies | | | | 50,529 | | | | | 3,067,634 | | | Pamela L. Davies | | | | 55,262 | | | | | 3,087,484 | | | ||||
| Theresa J. Drew | | | | 9,612 | | | | | 583,569 | | | Theresa J. Drew | | | | 12,530 | | | | | 700,027 | | | ||||
| Philippe Guillemot | | | | 15,982 | | | | | 970,273 | | | Philippe Guillemot | | | | 19,182 | | | | | 1,071,692 | | | ||||
| Robert R. Hill, Jr. | | | | 13,176 | | | | | 799,891 | | | Robert R. Hill, Jr. | | | | 18,747 | | | | | 1,047,402 | | | ||||
| Eleni Istavridis | | | | 4,462 | | | | | 270,888 | | | Eleni Istavridis | | | | 7,151 | | | | | 399,511 | | | ||||
| Richard G. Kyle | | | | 17,044 | | | | | 1,034,711 | | | Richard G. Kyle | | | | 20,290 | | | | | 1,133,626 | | | ||||
| Blythe J. McGarvie | | | | 20,238 | | | | | 1,228,667 | | | Blythe J. McGarvie | | | | 23,627 | | | | | 1,320,038 | | | ||||
| James M. Micali(3) | | | | 0 | | | | | 0 | | | Thomas E. Whiddon | | | | 55,262 | | | | | 3,087,478 | | | ||||
| Sundaram Nagarajan(3) | | | | 26,471 | | | | | 1,607,048 | | | ||||||||||||||||
| Marc D. Oken(3) | | | | 0 | | | | | 0 | | | ||||||||||||||||
| Thomas E. Whiddon | | | | 50,529 | | | | | 3,067,628 | | | ||||||||||||||||
| Lloyd M. Yates(3) | | | | 2,086 | | | | | 126,635 | | |
| Years of Service | | | Target Number of Shares Owned | | |||
| Two | | | | | 3,000 | | |
| Four | | | | | 5,000 | | |
| Six | | | | | 8,000 | | |
| | | R. HOWARD COKER President and Chief Executive Officer | | | | | | JOHN R. HALEY Chairman of the Board of Directors | | | | | | ROBERT R. HILL,JR. Lead Independent Director | |
| | | BY | | | | | BY EMAIL | | ||
| Non-management (or Independent) Directors c/o Corporate Secretary Sonoco Products Company 1 North Second Street Hartsville, SC 29550 US | | | CorporateSecretary@sonoco.com | |
| | | BY | | | | | BY EMAIL | | ||
| c/o Corporate Secretary Sonoco Products Company 1 North Second Street Hartsville, SC 29550 US | | | CorporateSecretary@sonoco.com | |
| Name of Beneficial Owner | | Amount and Nature of Beneficial Ownership(1) (#) | | Percent of Class(2) | | Vested Restricted Stock Units(3) (#) | | Deferred Compensation Units(4) (#) | | Name of Beneficial Owner | | Amount and Nature of Beneficial Ownership(1) (#) | | Percent of Class(2) | | Deferred Vested Restricted Stock Units(3) (#) | | Deferred Compensation Units(4) (#) | | ||||||||||||||||||||||||||||||||
| Steven L. Boyd | | | | — | | | | | — | | | | | — | | | | | — | | | Steven L. Boyd | | | | 0 | | | | | 0 | | | | | 0 | | | | | 2,491 | | | ||||||||
| Pamela L. Davies | | | | — | | | | | — | | | | | — | | | | | 50,941 | | | Pamela L. Davies | | | | 0 | | | | | 0 | | | | | 0 | | | | | 55,898 | | | ||||||||
| Theresa J. Drew | | | | — | | | | | — | | | | | — | | | | | 9,691 | | | Theresa J. Drew | | | | 0 | | | | | 0 | | | | | 0 | | | | | 13,166 | | | ||||||||
| Philippe Guillemot | | | | — | | | | | — | | | | | — | | | | | 16,112 | | | Philippe Guillemot | | | | 0 | | | | | 0 | | | | | 0 | | | | | 19,818 | | | ||||||||
| John R. Haley | | | | 15,558 | | | | | — | | | | | — | | | | | 48,264 | | | John R. Haley | | | | 15,558 | | | | | 0 | | | | | 0 | | | | | 58,782 | | | ||||||||
| Robert R. Hill Jr. | | | | 10,065 | | | | | — | | | | | — | | | | | 13,283 | | | Robert R. Hill Jr. | | | | 20,065 | | | | | 0 | | | | | 0 | | | | | 19,383 | | | ||||||||
| Eleni Istavridis | | | | — | | | | | — | | | | | — | | | | | 4,498 | | | Eleni Istavridis | | | | 0 | | | | | 0 | | | | | 0 | | | | | 7,787 | | | ||||||||
| Richard G. Kyle | | | | — | | | | | — | | | | | — | | | | | 17,182 | | | Richard G. Kyle | | | | 0 | | | | | 0 | | | | | 0 | | | | | 20,927 | | | ||||||||
| Blythe J. McGarvie | | | | — | | | | | — | | | | | — | | | | | 20,403 | | | Blythe J. McGarvie | | | | 0 | | | | | 0 | | | | | 0 | | | | | 24,263 | | | ||||||||
| Thomas E. Whiddon | | | | 15,590 | | | | | — | | | | | — | | | | | 50,941 | | | Thomas E. Whiddon | | | | 15,590 | | | | | 0 | | | | | 0 | | | | | 55,898 | | | ||||||||
| R. Howard Coker | | | | 249,771 | | | | | — | | | | | 22,793 | | | | | — | | | R. Howard Coker | | | | 258,035 | | | | | 0 | | | | | 24,888 | | | | | 0 | | | ||||||||
| Robert R. Dillard | | | | 4,731 | | | | | — | | | | | 2,807 | | | | | — | | | Robert R. Dillard | | | | 7,147 | | | | | 0 | | | | | 6,232 | | | | | 0 | | | ||||||||
| Rodger D. Fuller | | | | 93,941 | | | | | — | | | | | 1,480 | | | | | — | | | Rodger D. Fuller | | | | 104,510 | | | | | 0 | | | | | 2,221 | | | | | 0 | | | ||||||||
| John. M. Florence, Jr. | | | | 12,354 | | | | | — | | | | | 13,049 | | | | | — | | | John. M. Florence, Jr. | | | | 20,712 | | | | | 0 | | | | | 20,162 | | | | | 0 | | | ||||||||
| James A. Harrell, III | | | | 28,514 | | | | | — | | | | | 18,963 | | | | | — | | | James A. Harrell, III | | | | 28,880 | | | | | 0 | | | | | 20,122 | | | | | 0 | | | ||||||||
| Julie C. Albrecht(5) | | | | 16,419 | | | | | — | | | | | — | | | | | — | | | All executive officers and directors as a group (21 persons) | | | | 526,175 | | | | | 0 | | | | | 89,386 | | | | | 278,412 | | | ||||||||
| All executive officers and directors as a group (22 persons) | | | | 495,732 | | | | | — | | | | | 74,374 | | | | | 231,316 | | |
| NEO | | | Total Vested/ Exercisable SSARs (#) | | | SSARs with Appreciation as of February 7, 2023 (#) | | | Net Shares Issuable Upon Exercise of SSARs with Appreciation that Are Included in the Above Table (#) | | |||||||||
| R. Howard Coker | | | | | 97,941 | | | | | | 67,820 | | | | | | 10,725 | | |
| Robert R. Dillard | | | | | 3,013 | | | | | | — | | | | | | — | | |
| Rodger D. Fuller | | | | | 80,285 | | | | | | 50,164 | | | | | | 6,576 | | |
| John M. Florence, Jr. | | | | | 18,908 | | | | | | 6,859 | | | | | | 668 | | |
| James A. Harrelll, III | | | | | 15,528 | | | | | | 7,997 | | | | | | 805 | | |
| Julie C. Albrecht | | | | | — | | | | | | — | | | | | | — | | |
| All executive officers as a group | | | | | 238,046 | | | | | | 138,566 | | | | | | 19,678 | | |
| NEO | | | Total Vested/ Exercisable SSARs (#) | | | SSARs with Appreciation as of February 8, 2024 (#) | | | Net Shares Issuable Upon Exercise of SSARs with Appreciation that Are Included in the Above Table (#) | | | Restricted Stock Units to be issued within 60 days | | ||||||||||||
| R. Howard Coker | | | | | 97,941 | | | | | | 67,820 | | | | | | 12,792 | | | | | | 40,342 | | |
| Robert R. Dillard | | | | | 3,013 | | | | | | 0 | | | | | | 0 | | | | | | 5,480 | | |
| Rodger D. Fuller | | | | | 80,285 | | | | | | 50,164 | | | | | | 9,461 | | | | | | 13,082 | | |
| John M. Florence, Jr. | | | | | 18,908 | | | | | | 6,859 | | | | | | 1,294 | | | | | | 0 | | |
| James A. Harrell, III | | | | | 15,528 | | | | | | 7,997 | | | | | | 1,508 | | | | | | 4,706 | | |
| All executive officers as a group | | | | | 238,046 | | | | | | 138,566 | | | | | | 26,135 | | | | | | 77,713 | | |
| Name and Address of Beneficial Owner | | Amount and Nature of Beneficial Ownership (#) | | Percent of Class | | Name and Address of Beneficial Owner | | Amount and Nature of Beneficial Ownership (#) | | Percent of Class | | ||||||||||||||||
| BlackRock(1) 55 East 52nd Street New York, NY 10055 | | | | 11,554,514 | | | | | 11.8% | | | The Vanguard Group(1) 100 Vanguard Blvd. Malvern, PA 19355 | | | | 10,989,081 | | | | | 11.2% | | | ||||
| The Vanguard Group(2) 100 Vanguard Blvd. Malvern, PA 19355 | | | | 10,922,717 | | | | | 11.2% | | | BlackRock(2) 50 Hudson Yards New York, NY 10001 | | | | 10,925,545 | | | | | 11.2% | | | ||||
| State Street Corporation(3) One Lincoln Street Boston, MA 02111 | | | | 7,706,973 | | | | | 7.9% | | |
| | PROPOSAL 2 | | | | | | The Board of Directorsrecommends that you vote FORthe ratification of PwCas | | |
| | RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | | |
| | | | Fiscal Year | | | | | Fiscal Year | | ||||||||||||||||||||||||||||||||||||||||||||
| | | | 2022 | | | | 2021 | | | | | 2023 | | | | 2022 | | ||||||||||||||||||||||||||||||||||||
| Fee Category | | Fees ($ in thousands) | | % of Total | | | | Fees ($ in thousands) | | % of Total | | Fee Category | | Fees ($ in thousands) | | % of Total | | | | Fees ($ in thousands) | | % of Total | | ||||||||||||||||||||||||||||||
| Audit fees(1) | | | | $ | 6,379 | | | | | 71.0% | | | | | | $ | 4,894 | | | | | 72.5% | | | Audit fees(1) | | | | $ | 5,670 | | | | | 69.3% | | | | | | $ | 6,379 | | | | | 71.0% | | | ||||
| Audit-related fees(2) | | | | | 736 | | | | | 8.2% | | | | | | | 22 | | | | | 0.3% | | | Audit-related fees(2) | | | | | 23 | | | | | 0.3% | | | | | | | 736 | | | | | 8.2% | | | ||||
| Tax fees(3) | | | | | 1,864 | | | | | 20.8% | | | | | | | 1,836 | | | | | 27.2% | | | Tax fees(3) | | | | | 2,492 | | | | | 30.4% | | | | | | | 1,864 | | | | | 20.8% | | | ||||
| All other fees(4) | | | | | — | | | | | 0.0% | | | | | | | — | | | | | 0.0% | | | All other fees(4) | | | | | — | | | | | 0.0% | | | | | | | — | | | | | 0.0% | | | ||||
| Total fees | | | | $ | 8,979 | | | | | 100.0% | | | | | | $ | 6,752 | | | | | 100.0% | | | Total fees | | | | $ | 8,185 | | | | | 100.0% | | | | | | $ | 8,979 | | | | | 100.0% | | |
| | | | | | | | | | |||||
| Theresa J. Drew (Chair) | | | Steven L. Boyd | | | Richard G. Kyle | | | Blythe J. McGarvie | | | Thomas E. Whiddon | |
| | | R. Howard Coker President and Chief Executive Officer | | | | | Chief Financial Officer | | | | | Rodger D. Fuller Chief Operating Officer | |
| | | General Counsel, Secretary and Vice President/General Manager—Converted Paper Products, North America | | | | | James A. Harrell, III President, Global Industrial Paper Packaging Division | | ||||||||||
(until June 30, 2022) |
| | | • Reflect the decisions and efforts of those being compensated and | | | | | • Contribute to the creation of value over the long term | |
| Direct compensation elements, consisting of: | | | Executive Officer benefits elements, consisting of: | | ||||||
| | | • Base salary • Performance-based annual cash incentive • Long-term equity incentive | | | | | • Supplemental executive retirement benefits • Executive life insurance • Limited perquisites | |
| • Aptar Group Incorporated | | | • Crown Holdings Inc. | | | • Packaging Corporation of America | |
| • Avery Dennison Corporation | | | • Graphic Packaging Holding Company | | | • Pactiv Evergreen, Inc. | |
| • Ball Corporation | | | • Greif, Inc. | | | • Sealed Air Corporation | |
| • Berry Global Group, Inc. | | | • Owens-Illinois Group, Inc. | | | • Silgan Holdings Inc. | |
| | | | 2022 Year-End Base Salary | | | 2023 Year-End Base Salary | | | % Change | | |||||||||
| R. Howard Coker | | | | $ | 1,165,200 | | | | | $ | 1,211,808 | | | | | | 4.0% | | |
| Robert R. Dillard | | | | | 595,872 | | | | | | 697,164 | | | | | | 17.0% | | |
| Rodger D. Fuller | | | | | 732,720 | | | | | | 762,024 | | | | | | 4.0% | | |
| John M. Florence, Jr. | | | | | 545,604 | | | | | | 567,420 | | | | | | 4.0% | | |
| James A. Harrell, III | | | | | 589,920 | | | | | | 613,512 | | | | | | 4.0% | | |
| | | | Annual Incentive Compensation (as a Percentage of Base Salary) at: | | Name | | Annual Incentive Compensation at Threshold* | | Annual Incentive Compensation at Target* | | Annual Incentive Compensation at Maximum* | | |||||||||||||||||||||||||||
| Named Executive Officer | | Threshold | | Target | | Maximum | | R. Howard Coker | | | | 60.0% | | | | | 120.0% | | | | | 240.0% | | | |||||||||||||||
| R. Howard Coker | | | | 48.0% | | | | | 120.0% | | | | | 240.0% | | | Robert R. Dillard | | | | 42.5% | | | | | 85.0% | | | | | 170.0% | | | ||||||
| Robert R. Dillard | | | | 31.6% | | | | | 79.0% | | | | | 158.0% | | | Rodger D. Fuller | | | | 43.8% | | | | | 87.5% | | | | | 175.0% | | | ||||||
| Rodger D. Fuller | | | | 34.8% | | | | | 86.9% | | | | | 173.8% | | | John M. Florence, Jr. | | | | 35.0% | | | | | 70.0% | | | | | 140.0% | | | ||||||
| John M. Florence, Jr. | | | | 28.0% | | | | | 70.0% | | | | | 140.0% | | | James A. Harrell, III | | | | 35.0% | | | | | 70.0% | | | | | 140.0% | | | ||||||
| James A. Harrell, III | | | | 28.0% | | | | | 70.0% | | | | | 140.0% | | | |||||||||||||||||||||||
| Julie C. Albrecht | | | | 34.0% | | | | | 85.0% | | | | | 170.0% | | |
| 2022 Base Operating profit | | | $ | 764,577 | | | 2023 Base operating profit* | | | $ | 803,725 | | | ||
| Plus: Depreciation and amortization(1) | | | | 186,911 | | | Plus: Depreciation and amortization | | | | 253,314 | | | ||
| 2022 Base EBIDTA | | | $ | 951,488 | | | Adjustments related to unbudgeted M&A activity | | | | (7,181) | | | ||
| 2023 Base EBIDTA | | | | 1,049,857 | | |
| 2022 Base Operating profit | | | | $ | 155,288 | | |
| Plus: Depreciation and amortization(1) | | | | | 41,033 | | |
| 2022 Base EBIDTA | | | | $ | 196,321 | | |
| Incentive Plan Financial Metrics | | | Weightings | | ||||||
| | | | | | | |||||
| |||||||||||
Average Net Working Capital Cash Gap Days | | | | | |
|
| | | | | Threshold | | Target | | Maximum | | | | Actual 2022 Performance | | | | Threshold | | Target | | Maximum | | Actual 2023 Performance | | ||||||||||||||||||||||||||||||||
| | Sonoco Legacy Base EBITDA (000s) | | | $ | 753,400 | | | | $ | 801,500 | | | | $ | 808,000 | | | | | | $ | 951,488 | | | Sonoco Base EBITDA (000s) | | | | 1,065,568 | | | | | 1,121,651 | | | | | 1,233,816 | | | | | 1,049,857 | | | |||||||||
| | Ball Metalpack Base EBITDA (000s) | | | $ | 131,100 | | | | $ | 138,000 | | | | $ | 144,900 | | | | | | $ | 196,321 | | | Average Net Working Capital Cash Gap Days | | | | 62.8 | | | | | 61.3 | | | | | 58.3 | | | | | 70.7 | | | |||||||||
| | Average Net Working Capital Cash Gap Days | | | | 47.3 | | | | | 46.0 | | | | | 44.8 | | | | | | | 49.8 | | |
| Named Executive Officer | | | Annual Incentive Compensation for 2022 ($) | | | Percentage of Target | | | Percentage of Base Salary | | | Percent Change from Prior Year | | ||||||||||||
| R. Howard Coker | | | | $ | 1,977,093 | | | | | | 150.0% | | | | | | 180.0% | | | | | | 50.8% | | |
| Robert R. Dillard | | | | | 635,446 | | | | | | 150.0% | | | | | | 118.7% | | | | | | 75.5% | | |
| Rodger D. Fuller | | | | | 939,681 | | | | | | 150.0% | | | | | | 130.3% | | | | | | 31.7% | | |
| John M. Florence, Jr. | | | | | 563,707 | | | | | | 150.0% | | | | | | 105.0% | | | | | | 32.6% | | |
| John A. Harrell, III | | | | | 595,958 | | | | | | 150.0% | | | | | | 105.0% | | | | | | 40.0% | | |
| Julie C. Albrecht(1) | | | | | 539,338 | | | | | | 100.0% | | | | | | 160.0% | | | | | | -16.1% | | |
| | | • Align executives’ interests with long-term shareholder interests and | | | | | • Provide opportunities for increased stock ownership, which | |
| For | | | |
| Named Executive Officer | | Total Target Long-Term Equity ($) | | Performance Contingent Stock Units ($) | | Restricted Stock Units ($) | | Name | | Total Target Long-Term Equity | | Performance Contingent Stock Units | | Restricted Stock Units | | ||||||||||||||||||||||||
| R. Howard Coker | | | $ | 6,150,043 | | | | $ | 3,690,025 | | | | $ | 2,460,018 | | | R. Howard Coker | | | $ | 6,800,059 | | | | $ | 4,080,005 | | | | $ | 2,720,054 | | | ||||||
| Robert R. Dillard | | | | 500,034 | | | | | 300,005 | | | | | 200,028 | | | Robert R. Dillard | | | | 1,500,025 | | | | | 900,014 | | | | | 600,011 | | | ||||||
| Rodger D. Fuller | | | | 1,850,012 | | | | | 1,110,010 | | | | | 740,002 | | | Rodger D. Fuller | | | | 2,000,090 | | | | | 1,200,037 | | | | | 800,053 | | | ||||||
| John M. Florence, Jr. | | | | 1,000,013 | | | | | 600,011 | | | | | 400,003 | | | John M. Florence, Jr. | | | | 1,000,072 | | | | | 600,046 | | | | | 400,026 | | | ||||||
| James A. Harrell, III | | | | 750,023 | | | | | 450,008 | | | | | 300,015 | | | James A. Harrell, III | | | | 775,041 | | | | | 465,033 | | | | | 310,008 | | | ||||||
| Julie C. Albrecht | | | | 1,550,087 | | | | | 930,038 | | | | | 620,050 | | |
| The Committee established goals for performance vesting of the | | | |
| Goals | | | Threshold Vesting | | | Target Vesting | | | Maximum Vesting | | |||||||||
| Average Three-Year ROIC(1) | | | | | 10.20% | | | | | | 10.73% | | | | | | 11.27% | | |
| Three-Year Cumulative Growth in BEPS(2) | | | | | 9.0% | | | | | | 11.2% | | | | | | 13.6% | | |
| | | | Threshold Vesting | | | Target Vesting | | | Maximum Vesting | | |||||||||
| Average Three-Year ROIC(1) | | | | | 11.00% | | | | | | 12.20% | | | | | | 13.40% | | |
| Three-Year Cumulative Growth in BEPS(2) | | | | | -2.1% | | | | | | 0.2% | | | | | | 4.7% | | |
| Executive | | | Ownership Requirement | | |||
| Chief Executive Officer | | | ● ● ● ● ● ● | | | 6.0 times annual base salary | |
| Chief Operating Officer | | | ● ● ● ● | | | 4.0 times annual base salary | |
| Chief Financial Officer | | | ● ● ● | | | 3.0 times annual base salary | |
| Executive Vice Presidents | | | ● ● ● | | | 3.0 times annual base salary | |
| Presidents | | | ● ● | | | 2.0 times annual base salary | |
| Senior Vice Presidents | | | ● ● | | | 2.0 times annual base salary | |
| Vice Presidents | | | ● | | | 1.0 times annual base salary | |
| | | | | | | | ||||
| Richard G. Kyle (Chair) | | | Dr. Pamela L. Davies | | | Robert R. Hill, Jr. | | | Thomas E. Whiddon | |
| (a) | | (b) | | (c) | | (d) | | (e) | | (f) | | (g) | | (h) | | (i) | | (a) | | (b) | | (c) | | (d) | | (e) | | (f) | | (g) | | (h) | | (i) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name and Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards(1) ($) | | Non Equity Incentive Plan Compensation(2) ($) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings(3) ($) | | All Other Compensation(4) ($) | | Total ($) | | Name and Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards(1) ($) | | Non Equity Incentive Plan Compensation(2) ($) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation(3) ($) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| R. Howard Coker President and Chief Executive Officer | | | | | 2022 | | | | $ | 1,098,385 | | | | | 0 | | | | $ | 6,205,527 | | | | $ | 1,977,093 | | | | | 0 | | | | $ | 513,043 | | | | $ | 9,794,049 | | | R. Howard Coker President and Chief Executive Officer | | | | | 2023 | | | | | 1,192,388 | | | | | 0 | | | | $ | 6,876,983 | | | | | 0 | | | | | 0 | | | | $ | 469,222 | | | | $ | 8,538,593 | | | ||||||||||||||
| | | 2021 | | | | | 906,234 | | | | | 0 | | | | | 4,038,338 | | | | | 1,311,489 | | | | | 0 | | | | | 362,393 | | | | | 6,618,454 | | | | | | 2022 | | | | | 1,098,385 | | | | | 0 | | | | | 6,205,527 | | | | $ | 1,977,093 | | | | | 0 | | | | | 513,043 | | | | | 9,794,049 | | | |||||||||||||||||||
| | | 2020 | | | | | 736,038 | | | | | 0 | | | | | 4,020,436 | | | | | 794,921 | | | | $ | 1,018,274 | | | | | 246,254 | | | | | 6,815,923 | | | | | | 2021 | | | | | 906,234 | | | | | 0 | | | | | 4,038,338 | | | | | 1,311,489 | | | | | 0 | | | | | 362,393 | | | | | 6,618,454 | | | |||||||||||||||||||
| Robert R. Dillard* Chief Financial Officer | | | | | 2022 | | | | | 535,539 | | | | | 0 | | | | | 1,019,828 | | | | | 635,446 | | | | | 0 | | | | | 175,267 | | | | | 2,366,080 | | | Robert R. Dillard* Chief Financial Officer | | | | | 2023 | | | | | 654,959 | | | | | 0 | | | | | 1,529,341 | | | | | 0 | | | | | 0 | | | | | 180,812 | | | | | 2,365,113 | | | ||||||||||||||
| | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2022 | | | | | 535,539 | | | | | 0 | | | | | 1,019,828 | | | | | 635,446 | | | | | 0 | | | | | 175,267 | | | | | 2,366,080 | | | |||||||||||||||||||
| | | 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||
| Rodger D. Fuller Chief Operating Officer | | | | | 2022 | | | | | 720,980 | | | | | 0 | | | | | 1,885,304 | | | | | 939,681 | | | | | 0 | | | | | 281,088 | | | | | 3,827,053 | | | Rodger D. Fuller Chief Operating Officer | | | | | 2023 | | | | | 749,814 | | | | | 0 | | | | | 2,041,641 | | | | | 0 | | | | | 0 | | | | | 242,089 | | | | | 3,033,544 | | | ||||||||||||||
| | | 2021 | | | | | 695,994 | | | | | 0 | | | | | 1,679,203 | | | | | 713,456 | | | | | 0 | | | | | 258,261 | | | | | 3,346,914 | | | | | | 2022 | | | | | 720,980 | | | | | 0 | | | | | 1,885,304 | | | | | 939,681 | | | | | 0 | | | | | 281,088 | | | | | 3,827,053 | | | |||||||||||||||||||
| | | 2020 | | | | | 660,434 | | | | | 0 | | | | | 1,520,332 | | | | | 505,232 | | | | | 1,186,171 | | | | | 182,978 | | | | | 4,055,147 | | | | | | 2021 | | | | | 695,994 | | | | | 0 | | | | | 1,679,203 | | | | | 713,456 | | | | | 0 | | | | | 258,261 | | | | | 3,346,914 | | | |||||||||||||||||||
| John M. Florence, Jr. General Counsel, Secretary, & Vice President/General Manager—Tubes and Cores—US and Canada | | | | | 2022 | | | | | 536,864 | | | | | 0 | | | | | 1,023,237 | | | | | 563,707 | | | | | 0 | | | | | 176,167 | | | | | 2,299,975 | | | John M. Florence, Jr. General Counsel, Secretary, & Vice President / General Manager—Tubes and Cores, US and Canada | | | | | 2023 | | | | | 558,330 | | | | | 0 | | | | | 1,027,632 | | | | | 0 | | | | | 0 | | | | | 151,136 | | | | | 1,737,098 | | | ||||||||||||||
| | | 2021 | | | | | 503,458 | | | | | 0 | | | | | 866,371 | | | | | 425,015 | | | | | 0 | | | | | 144,330 | | | | | 1,939,173 | | | | | | 2022 | | | | | 536,864 | | | | | 0 | | | | | 1,023,237 | | | | | 563,707 | | | | | 0 | | | | | 176,167 | | | | | 2,299,975 | | | |||||||||||||||||||
| | | 2020 | | | | | 399,990 | | | | | 0 | | | | | 628,353 | | | | | 251,994 | | | | | 0 | | | | | 101,102 | | | | | 1,381,438 | | | | | | 2021 | | | | | 503,458 | | | | | 0 | | | | | 866,371 | | | | | 425,015 | | | | | 0 | | | | | 144,330 | | | | | 1,939,173 | | | |||||||||||||||||||
| James A. Harrell, III** President, Global Industrial Paper Packaging Division | | | | | 2022 | | | | | 567,579 | | | | | 0 | | | | | 773,304 | | | | | 595,958 | | | | | 0 | | | | | 185,545 | | | | | 2,122,386 | | | James A. Harrell, III* President, Global Industrial Paper Packaging Division | | | | | 2023 | | | | | 603,682 | | | | | 0 | | | | | 804,175 | | | | | 0 | | | | | 0 | | | | | 169,715 | | | | | 1,577,572 | | | ||||||||||||||
| | | 2021 | | | | | 504,331 | | | | | 0 | | | | | 469,009 | | | | | 425,752 | | | | | 0 | | | | | 148,617 | | | | | 1,547,709 | | | | | | 2022 | | | | | 567,579 | | | | | 0 | | | | | 773,304 | | | | | 595,958 | | | | | 0 | | | | | 185,545 | | | | | 2,122,386 | | | |||||||||||||||||||
| | | 2020 | | | | | 465,290 | | | | | 0 | | | | | 391,020 | | | | | 293,133 | | | | | 841,583 | | | | | 125,265 | | | | | 2,116,291 | | | | | | 2021 | | | | | 504,331 | | | | | 0 | | | | | 469,009 | | | | | 425,752 | | | | | 0 | | | | | 148,617 | | | | | 1,547,709 | | | |||||||||||||||||||
| Julie C. Albrecht(5) Former Chief Financial Officer | | | | | 2022 | | | | | 337,086 | | | | | 0 | | | | | 1,582,806 | | | | | 539,338 | | | | | 0 | | | | | 555,236 | | | | | 3,014,465 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2021 | | | | | 665,992 | | | | | 0 | | | | | 1,552,165 | | | | | 642,543 | | | | | 0 | | | | | 210,420 | | | | | 3,071,120 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 633,448 | | | | | 0 | | | | | 1,316,032 | | | | | 451,989 | | | | | 0 | | | | | 167,784 | | | | | 2,569,253 | | |
| | | | (a) | | | (b) | | | (c) | | | (d) | | | (e) | | | (f) | | ||||||||||||||||||
| Name | | | Perquisites ($) | | | Executive Life Insurance ($) | | | Company Contributions and Accruals to Defined Contribution Plans ($) | | | Company Contributions to the Defined Contribution SERP ($) | | | Post Employment Payments ($) | | | All other Compensation Total ($) | | ||||||||||||||||||
| R. Howard Coker | | | | $ | 37,885 | | | | | $ | 9,390 | | | | | $ | 235,107 | | | | | $ | 230,661 | | | | | | | | | | | $ | 513,043 | | |
| Robert R. Dillard | | | | | 0 | | | | | | 3,571 | | | | | | 83,872 | | | | | | 87,824 | | | | | | | | | | | | 175,267 | | |
| Rodger D. Fuller | | | | | 10,422 | | | | | | 8,552 | | | | | | 137,564 | | | | | | 124,550 | | | | | | | | | | | | 281,088 | | |
| John M. Florence, Jr. | | | | | 0 | | | | | | 3,316 | | | | | | 90,308 | | | | | | 82,543 | | | | | | | | | | | | 176,167 | | |
| James A. Harrell. III | | | | | 0 | | | | | | 4,827 | | | | | | 93,453 | | | | | | 87,265 | | | | | | | | | | | | 185,545 | | |
| Julie C. Albrecht | | | | | 0 | | | | | | 6,258 | | | | | | 97,269 | | | | | | 55,619 | | | | | $ | 396,089 | | | | | | 555,236 | | |
| | | | (a) | | | (b) | | | (c) | | | (d) | | | (e) | | |||||||||||||||
| Name | | | Perquisites | | | Executive Life Insurance | | | Company Contributions and Accruals to Defined Contribution Plans | | | Company Contributions to the Defined Contribution SERP | | | All other Compensation Total | | |||||||||||||||
| R. Howard Coker | | | | $ | 51,454 | | | | | $ | 17,799 | | | | | $ | 310,540 | | | | | $ | 89,429 | | | | | $ | 469,222 | | |
| Robert R. Dillard | | | | | 0 | | | | | | 9,058 | | | | | | 122,633 | | | | | | 49,122 | | | | | | 180,812 | | |
| Rodger D. Fuller | | | | | 14,376 | | | | | | 8,936 | | | | | | 162,542 | | | | | | 56,236 | | | | | | 242,089 | | |
| John M. Florence, Jr. | | | | | 0 | | | | | | 3,466 | | | | | | 105,796 | | | | | | 41,875 | | | | | | 151,136 | | |
| James A. Harrell, III | | | | | 0 | | | | | | 10,883 | | | | | | 113,556 | | | | | | 45,276 | | | | | | 169,715 | | |
| (a) | | (b1) | | (b2) | | (c) | | (d) | | (e) | | (f) | | (g) | | (h) | | (i) | | (j) | | (a) | | (b1) | | (b2) | | (c) | | (d) | | (e) | | (f) | | (g) | | (h) | | (i) | | (j) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | Estimated Possible Payouts Under Non-Equity Incentive Awards(1) | | Estimated Possible Payouts Under Equity Incentive Plan Awards(2) | | | All Other Stock Awards: Number of Shares of Stock or Units (#) | | Grant Date Fair Value of Stock and Option Awards(6) (#) | | | | | | | | Estimated Possible Payouts Under Non-Equity Incentive Awards(1) | | Estimated Possible Payouts Under Equity Incentive Plan Awards(2) | | | All Other Stock Awards: Number of Shares of Stock or Units (#) | | Grant Date Fair Value of Stock and Option Awards(5) (#) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | Grant Date | | Committee Action | | Threshold ($) | | Target ($) | | Maximum ($) | | Threshold (#) | | Target (#) | | Maximum (#) | | Name | | Grant Date | | Committee Action | | Threshold ($) | | Target ($) | | Maximum ($) | | Threshold (#) | | Target (#) | | Maximum (#) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| R. Howard Coker | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | R. Howard Coker | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| Annual Cash Incentive | | NA | | 02-09-2022 | | | $ | 527,225 | | | | $ | 1,318,062 | | | | $ | 2,636,124 | | | | | | | | | | | | | | | | | | | | | | | | | | | | Annual Cash Incentive | | NA | | 02-13-2023 | | | $ | 715,433 | | | | $ | 1,430,866 | | | | $ | 2,861,731 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| PCSUs | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | 35,522 | | | | | 71,044 | | | | | 142,088 | | | | | | | | | $ | 3,690,025 | | | PCSUs | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | 37,064 | | | | | 74,128 | | | | | 148,256 | | | | | | | | | $ | 4,080,005 | | | ||||||||||||||||||||
| RSUs(3) | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 45,836 | | | | | 2,460,018 | | | RSUs(3) | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 47,863 | | | | | 2,720,054 | | | ||||||||||||||||||||
| RSUs—DC SERP(4) | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 970 | | | | | 55,484 | | | RSUs—DC SERP(4) | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,270 | | | | | 76,924 | | | ||||||||||||||||||||
| Robert R. Dillard | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Robert R. Dillard | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| Annual Cash Incentive | | NA | | 02-09-2022 | | | | 169,452 | | | | | 423,631 | | | | | 847,261 | | | | | | | | | | | | | | | | | | | | | | | | | | | | Annual Cash Incentive | | NA | | 02-13-2023 | | | | 278,358 | | | | | 556,715 | | | | | 1,113,430 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| PCSUs | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | 2,888 | | | | | 5,776 | | | | | 11,552 | | | | | | | | | | 300,005 | | | PCSUs | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | 8,176 | | | | | 16,352 | | | | | 32,704 | | | | | | | | | | 900,014 | | | ||||||||||||||||||||
| RSUs(3) | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,727 | | | | | 200,028 | | | RSUs(3) | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,558 | | | | | 600,011 | | | ||||||||||||||||||||
| RSUs—DC SERP(4) | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 346 | | | | | 19,791 | | | RSUs—DC SERP(4) | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 484 | | | | | 29,316 | | | ||||||||||||||||||||
| RSUs(5) | | 06-15-2022 | | 06-13-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,941 | | | | | 500,004 | | | Rodger D. Fuller | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| Rodger D. Fuller | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Annual Cash Incentive | | NA | | 02-13-2023 | | | | 328,044 | | | | | 656,087 | | | | | 1,312,175 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| Annual Cash Incentive | | NA | | 02-09-2022 | | | | 250,582 | | | | | 626,454 | | | | | 1,252,908 | | | | | | | | | | | | | | | | | | | | | | | | | | | | PCSUs | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | 10,902 | | | | | 21,803 | | | | | 43,606 | | | | | | | | | | 1,200,037 | | | ||||||||||||||||||||
| PCSUs | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | 10,686 | | | | | 21,371 | | | | | 42,742 | | | | | | | | | | 1,110,010 | | | RSUs(3) | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 14,078 | | | | | 800,053 | | | ||||||||||||||||||||
| RSUs(3) | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 13,788 | | | | | 740,002 | | | RSUs—DC SERP(4) | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 686 | | | | | 41,551 | | | ||||||||||||||||||||
| RSUs—DC SERP(4) | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 617 | | | | | 35,292 | | | John M. Florence, Jr. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| John M. Florence, Jr. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Annual Cash Incentive | | NA | | 02-13-2023 | | | | 195,416 | | | | | 390,831 | | | | | 781,662 | | | | | | | | | | | | | | | | | | | | | | | | | | ��� | | ||||||||||||||||||||
| Annual Cash Incentive | | NA | | 02-09-2022 | | | | 150,322 | | | | | 375,805 | | | | | 751,610 | | | | | | | | | | | | | | | | | | | | | | | | | | | | PCSUs | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | 5,451 | | | | | 10,902 | | | | | 21,804 | | | | | | | | | | 600,046 | | | ||||||||||||||||||||
| PCSUs | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | 5,776 | | | | | 11,552 | | | | | 23,104 | | | | | | | | | | 600,011 | | | RSUs(3) | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,039 | | | | | 400,026 | | | ||||||||||||||||||||
| RSUs(3) | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,453 | | | | | 400,003 | | | RSUs—DC SERP(4) | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 455 | | | | | 27,559 | | | ||||||||||||||||||||
| RSUs—DC SERP(4) | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 406 | | | | | 23,223 | | | James A. Harrell, III | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| James A. Harrell, III | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Annual Cash Incentive | | NA | | 02-13-2023 | | | | 211,289 | | | | | 422,577 | | | | | 845,155 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| Annual Cash Incentive | | NA | | 02-09-2022 | | | | 158,922 | | | | | 397,305 | | | | | 794,611 | | | | | | | | | | | | | | | | | | | | | | | | | | | | PCSUs | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | 4,225 | | | | | 8,449 | | | | | 16,898 | | | | | | | | | | 465,033 | | | ||||||||||||||||||||
| PCSUs | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | 4,332 | | | | | 8,664 | | | | | 17,328 | | | | | | | | | | 450,008 | | | RSUs(3) | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,455 | | | | | 310,008 | | | ||||||||||||||||||||
| RSUs(3) | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,590 | | | | | 300,015 | | | RSUs—DC SERP(4) | | 02-13-2023 | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 481 | | | | | 29,134 | | | ||||||||||||||||||||
| RSUs—DC SERP(4) | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 407 | | | | | 23,280 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Julie C. Albrecht | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Annual Cash Incentive | | NA | | 02-09-2022 | | | | 215,735 | | | | | 539,338 | | | | | 1,078,676 | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PCSUs | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | 8,953 | | | | | 17,906 | | | | | 35,812 | | | | | | | | | | 930,038 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RSUs(3) | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,553 | | | | | 620,050 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RSUs—DC SERP(4) | | 02-09-2022 | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 572 | | | | | 32,718 | | |
| (a) | | | | | | | (b) | | (c) | | (d) | | (e) | | (f) | | (g) | | (h) | | (i) | | (j) | | (a) | | | | | | | (b) | | (c) | | (d) | | (e) | | (f) | | (g) | | (h) | | (i) | | (j) | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | Grant Date | | | Option or SSAR Awards | | Stock Awards | | Name | | Grant Date | | | Option or SSAR Awards | | Stock Awards | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Number of Securities Underlying Unexercised Options(1) (#) Exercisable | | Number of Securities Underlying Unexercised Options(1) (#) Unexercisable | | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock That Have Not Vested(1) (#) | | Market Value of Shares or Units of Stock That Have Not Vested(2) ($) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights That Have Not Vested(3) (#) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units, or Other Rights That Have Not Vested(2) ($) | | | Number of Securities Underlying Unexercised Options(1) (#) Exercisable | | Number of Securities Underlying Unexercised Options(1) (#) Unexercisable | | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) | | Option Exercise Price ($) | | Option Expiration Date | | Number of Shares or Units of Stock That Have Not Vested(1) (#) | | Market Value of Shares or Units of Stock That Have Not Vested(2) ($) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights That Have Not Vested(3) (#) | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units, or Other Rights That Have Not Vested(2) ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| R. Howard Coker | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | R. Howard Coker | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||
| | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 142,088 | | | | $ | 8,626,162 | | | | | | | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 163,082 | | | | $ | 9,111,369 | | | ||||||||||||||||||
| | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | 45,836 | | | | $ | 2,782,704 | | | | | | | | | | | | | | | | | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | 47,863 | | | | $ | 2,674,106 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 85,792 | | | | | 5,208,432 | | | | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 142,088 | | | | | 7,938,457 | | | ||||||||||||||||||
| | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | 18,567 | | | | | 1,127,203 | | | | | | | | | | | | | | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | 30,711 | | | | | 1,715,824 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-12-2020 | | | | | | | | | | | | | | | | | | | | | | | | 4,189 | | | | | 254,314 | | | | | | | | | | | | | | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,422 | | | | | 526,407 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-12-2020(4) | | | | | | | | | | | | | | | | | | | | | | | | 38,615 | | | | | 2,344,323 | | | | | | | | | | | | | | | | | | 02-12-2020(4) | | | | | | | | | | | | | | | | | | | | | | | | | | | 40,002 | | | | | 2,234,934 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-13-2019 | | | | | 30,121 | | | | | | | | $ | 60.77 | | | | | 02-13-2029 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-13-2019 | | | | | 30,121 | | | | | | | 0 | | | | $ | 60.77 | | | | | 02-13-2029 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-14-2018 | | | | | 28,054 | | | | | | | | | 50.83 | | | | | 02-14-2028 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-14-2018 | | | | | 28,054 | | | | | | | 0 | | | | | 50.83 | | | | | 02-14-2028 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-08-2017 | | | | | 22,110 | | | | | | | | | 54.46 | | | | | 02-08-2027 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-08-2017 | | | | | 22,110 | | | | | | | 0 | | | | | 54.46 | | | | | 02-08-2027 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | 02-11-2015 | | | | | 17,656 | | | | | | | | | 46.16 | | | | | 02-11-2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-11-2015 | | | | | 17,656 | | | | | | | 0 | | | | | 46.16 | | | | | 02-11-2025 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| Robert R. Dillard | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Robert R. Dillard | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||
| | | | | | 06-15-2022(5) | | | | | | | | | | | | | | | | | | | | | | | | 10,941 | | | | | 664,228 | | | | | | | | | | | | | | | | | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 35,974 | | | | | 2,009,890 | | | ||||||||||||||||||
| | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,552 | | | | | 701,322 | | | | | | | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,558 | | | | | 589,875 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | 3,727 | | | | | 226,266 | | | | | | | | | | | | | | | | | | 06-15-2022(5) | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,941 | | | | | 611,274 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,972 | | | | | 423,270 | | | | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,552 | | | | | 645,410 | | | ||||||||||||||||||
| | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | 1,509 | | | | | 91,611 | | | | | | | | | | | | | | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,498 | | | | | 139,563 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 11-01-2020(6) | | | | | | | | | | | | | | | | | | | | | | | | 3,284 | | | | | 199,378 | | | | | | | | | | | | | | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | 766 | | | | | 42,796 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-12-2020 | | | | | | | | | | | | | | | | | | | | | | | | 419 | | | | | 25,437 | | | | | | | | | | | | | | | | | | 11-01-2020(6) | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,268 | | | | | 126,713 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 10-13-2019(6) | | | | | | | | | | | | | | | | | | | | | | | | 1,869 | | | | | 113,485 | | | | | | | | | | | | | | | | | | 10-13-2019(7) | | | | | | | | | | | | | | | | | | | | | | | | | | | 980 | | | | | 54,747 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | 02-13-2019 | | | | | 3,013 | | | | | | | | | 60.77 | | | | | 02-13-2029 | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-13-2019 | | | | | 3,013 | | | | | | | 0 | | | | | 60.77 | | | | | 02-13-2029 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| Rodger D. Fuller | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Rodger D. Fuller | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||
| | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 42,742 | | | | | 2,594,867 | | | | | | | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 47,967 | | | | | 2,679,894 | | | ||||||||||||||||||
| | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | 13,788 | | | | | 837,069 | | | | | | | | | | | | | | | | | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | 14,078 | | | | | 786,538 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 35,390 | | | | | 2,148,527 | | | | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 42,742 | | | | | 2,387,996 | | | ||||||||||||||||||
| | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | 7,659 | | | | | 464,978 | | | | | | | | | | | | | | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,238 | | | | | 516,127 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-12-2020 | | | | | | | | | | | | | | | | | | | | | | | | 3,142 | | | | | 190,751 | | | | | | | | | | | | | | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,887 | | | | | 217,167 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-13-2019 | | | | | 30,121 | | | | | | | | | 60.77 | | | | | 02-13-2029 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-13-2019 | | | | | 30,121 | | | | | | | 0 | | | | | 60.77 | | | | | 02-13-2029 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-14-2018 | | | | | 28,054 | | | | | | | | | 50.83 | | | | | 02-14-2028 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-14-2018 | | | | | 28,054 | | | | | | | 0 | | | | | 50.83 | | | | | 02-14-2028 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | 02-08-2017 | | | | | 22,110 | | | | | | | | | 54.46 | | | | | 02-08-2027 | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-08-2017 | | | | | 22,110 | | | | | | | 0 | | | | | 54.46 | | | | | 02-08-2027 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| John M. Florence, Jr. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | John M. Florence, Jr. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||
| | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 23,104 | | | | | 1,402,644 | | | | | | | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 23,984 | | | | | 1,340,008 | | | ||||||||||||||||||
| | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | 7,453 | | | | | 452,472 | | | | | | | | | | | | | | | | | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,039 | | | | | 393,269 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 18,232 | | | | | 1,106,865 | | | | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 23,104 | | | | | 1,290,820 | | | ||||||||||||||||||
| | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | 3,946 | | | | | 239,562 | | | | | | | | | | | | | | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,994 | | | | | 279,015 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-12-2020 | | | | | | | | | | | | | | | | | | | | | | | | 1,288 | | | | | 78,194 | | | | | | | | | | | | | | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,003 | | | | | 111,908 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-13-2019 | | | | | 12,049 | | | | | | | | | 60.77 | | | | | 02-13-2029 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-13-2019 | | | | | 12,049 | | | | | | | 0 | | | | | 60.77 | | | | | 02-13-2029 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | 02-08-2017 | | | | | 6,859 | | | | | | | | | 54.46 | | | | | 02-08-2027 | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-08-2017 | | | | | 6,859 | | | | | | | 0 | | | | | 54.46 | | | | | 02-08-2027 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| James A. Harrell, III | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | James A. Harrell, III | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||
| | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 17,328 | | | | | 1,051,983 | | | | | | | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 18,588 | | | | | 1,038,500 | | | ||||||||||||||||||
| | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | 5,590 | | | | | 339,369 | | | | | | | | | | | | | | | | | | 02-13-2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,455 | | | | | 304,771 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,652 | | | | | 585,973 | | | | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 17,328 | | | | | 968,115 | | | ||||||||||||||||||
| | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | 2,090 | | | | | 126,884 | | | | | | | | | | | | | | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,746 | | | | | 209,289 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-12-2020(6) | | | | | | | | | | | | | | | | | | | | | | | | 786 | | | | | 47,718 | | | | | | | | | | | | | | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,061 | | | | | 59,278 | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-13-2019 | | | | | 7,531 | | | | | | | | | 60.77 | | | | | 02-13-2029 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-13-2019 | | | | | 7,531 | | | | | | | 0 | | | | | 60.77 | | | | | 02-13-2029 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | | 02-08-2017 | | | | | 7,885 | | | | | | | | | 54.46 | | | | | 02-08-2027 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-08-2017 | | | | | 7,885 | | | | | | | 0 | | | | | 54.46 | | | | | 02-08-2027 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||
| | | | | 02-10-2016 | | | | | 112 | | | | | | | | | 40.41 | | | | | 02-10-2026 | | | | | | | | | | | | | | | | | | | | | | | | | | | 02-10-2016 | | | | | 112 | | | | | | | 0 | | | | | 40.41 | | | | | 02-10-2026 | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| Julie C. Albrecht | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | 02-09-2022 | | | | | | | | | | | | | | | | | | | | | | | | 3,812 | | | | | 231,427 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | 02-10-2021 | | | | | | | | | | | | | | | | | | | | | | | | 3,486 | | | | | 211,635 | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | 02-12-2020 | | | | | | | | | | | | | | | | | | | | | | | | 2,723 | | | | | 165,313 | | | | | | | | | | | | |
| (a) | | | (b) | | | (c) | | | (d) | | | (e) | | ||||||||||||
| | | | Option Awards | | | Stock Awards | | ||||||||||||||||||
| Name | | | Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise(1) ($) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting(9) ($) | | ||||||||||||
| R. Howard Coker | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | 1,477(2) | | | | | $ | 82,801 | | |
| | | | | | | | | | | | | | | | | | 4,065(3) | | | | | | 227,884 | | |
| | | | | | | | | | | | | | | | | | 9,144 (4) | | | | | | 509,595 | | |
| | | | | | | | | | | | | | | | | | 51,540 (5) | | | | | | 3,128,993 | | |
| Total | | | | | | | | | | | | | | | | | 66,226 | | | | | $ | 3,949,273 | | |
| Robert R. Dillard | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | 148 (2) | | | | | $ | 8,297 | | |
| | | | | | | | | | | | | | | | | | 407 (3) | | | | | | 22,816 | | |
| | | | | | | | | | | | | | | | | | 743(4) | | | | | | 41,407 | | |
| | | | | | | | | | | | | | | | | | 5,154 (5) | | | | | | 312,899 | | |
| | | | | | | | | | | | | | | | | | 938(6) | | | | | | 56,927 | | |
| Total | | | | | | | | | | | | | | | | | 7,390 | | | | | $ | 442,347 | | |
| Rodger D. Fuller | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | 1,477 (2) | | | | | $ | 82,801 | | |
| | | | | | | | | | | | | | | | | | 3,049 (3) | | | | | | 170,927 | | |
| | | | | | | | | | | | | | | | | | 3,772 (4) | | | | | | 210,214 | | |
| | | | | | | | | | | | | | | | | | 38,654 (5) | | | | | | 2,346,684 | | |
| Total | | | | | | | | | | | | | | | | | 46,952 | | | | | $ | 2,810,625 | | |
| John M. Florence, Jr. | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | 591 (2) | | | | | $ | 33,131 | | |
| | | | | | | | | | | | | | | | | | 1,250 (3) | | | | | | 70,075 | | |
| | | | | | | | | | | | | | | | | | 1,943 (4) | | | | | | 108,283 | | |
| | | | | | | | | | | | | | | | | | 15,850 (5) | | | | | | 962,254 | | |
| Total | | | | | | | | | | | | | | | | | 19,634 | | | | | $ | 1,173,743 | | |
| James A. Harrell, III | | | | | | | | | | | | | | | | | 370(2) | | | | | $ | 20,742 | | |
| | | | | | | | | | | | | | | | | | 762 (3) | | | | | | 42,718 | | |
| | | | | | | | | | | | | | | | | | 1,028 (4) | | | | | | 57,290 | | |
| | | | | | | | | | | | | | | | | | 9,664 (5) | | | | | | 586,701 | | |
| Total | | | | | | | | | | | | | | | | | 11,824 | | | | | $ | 707,452 | | |
| Julie C. Albrecht | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | 15,268 | | | | | $ | 168,711 | | | | | | | | | | | | | | |
| | | | | | 24,097 | | | | | | 26,748 | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | 1,181 (2) | | | | | $ | 66,207 | | |
| | | | | | | | | | | | | | | | | | 2,642 (3) | | | | | | 148,111 | | |
| | | | | | | | | | | | | | | | | | 3,486 (4) | | | | | | 194,275 | | |
| | | | | | | | | | | | | | | | | | 33,500 (5) | | | | | | 2,033,785 | | |
| | | | | | | | | | | | | | | | | | 860 (7) | | | | | | 48,667 | | |
| | | | | | | | | | | | | | | | | | 1,059 (8) | | | | | | 62,439 | | |
| Total | | | | | 39,365 | | | | | $ | 195,459 | | | | | | 42,728 | | | | | $ | 2,553,483 | | |
| (a) | | | (b) | | | (c) | | | (d) | | | (e) | | | (d) | | | (e) | | ||||||||||||
| | | | Option Awards | | | Restricted Stock Awards | | | Performance Awards | | |||||||||||||||||||||
| Name | | | Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise ($) | | | Number of Shares Acquired on Vesting(1) (#) | | | Value Realized on Vesting(2) ($) | | | Number of Shares Acquired on Vesting(3) (#) | | | Value Realized on Vesting(2) ($) | | ||||||||||||
| R. Howard Coker | | | | | | | | | | | 28,459 | | | | | $ | 1,703,996 | | | | | | 85,792 | | | | | $ | 4,793,199 | | |
| Robert R. Dillard | | | | | | | | | | | 4,483 | | | | | | 255,189 | | | | | | 6,972 | | | | | | 389,526 | | |
| Rodger D. Fuller | | | | | | | | | | | 11,464 | | | | | | 685,409 | | | | | | 35,390 | | | | | | 1,977,239 | | |
| John M. Florence, Jr. | | | | | | | | | | | 5,690 | | | | | | 340,324 | | | | | | 18,232 | | | | | | 1,018,622 | | |
| James A. Harrell, III | | | | | | | | | | | 3,659 | | | | | | 219,019 | | | | | | 9,652 | | | | | | 539,257 | | |
| (a) | | (b) | | (c) | | (d) | | (e) | | (a) | | (b) | | (c) | | (d) | | (e) | | ||||||||||||||||||||||||||
| Name | | Plan Name(1) | | Number of Years Credited Service(3) (#) | | Present Value of Accumulated Benefit(4) ($) | | Payments During Last Fiscal Year ($) | | Name | | Plan Name(1) | | Number of Years Credited Service(3) (#) | | Present Value of Accumulated Benefit(4) ($) | | Payments During Last Fiscal Year ($) | | ||||||||||||||||||||||||||
| R. Howard Coker | | | DB Restoration | | | | 32.50 | | | | $ | 2,939,840 | | | | | 0 | | | R. Howard Coker | | | DB Restoration | | | | 32.50 | | | | $ | 3,165,265 | | | | | | | | ||||||
| Total | | | | | | | | | 2,939,840 | | | | | 0 | | | | | | | | | | | | | 3,165,265 | | | | | 0 | | | |||||||||||
| Robert R. Dillard(2) | | | | | | | | | | | | | | | | | | | Robert R. Dillard(2) | | | | | | | | | | | | | | | | 0 | | | ||||||||
| Rodger D. Fuller | | | DB Restoration | | | | 32.50 | | | | | 3,244,525 | | | | | 0 | | | Rodger D. Fuller | | | DB Restoration | | | | 32.50 | | | | | 3,486,997 | | | | | | | | ||||||
| DBSERP | | | | 33.58 | | | | | 760,637 | | | | | 0 | | | | DBSERP | | | | 33.58 | | | | | 781,321 | | | | | | | | |||||||||||
| Total | | | | | | | | | 4,005,162 | | | | | 0 | | | | | | | | | | | | | 4,268,318 | | | | | 0 | | | |||||||||||
| John M. Florence, Jr.(2) | | | | | | | | | | | | | | | | | | | John M. Florence, Jr.(2) | | | | | | | | | | | | | | | | 0 | | | ||||||||
| James A. Harrell, III | | | DB Restoration | | | | 32.50 | | | | | 2,299,344 | | | | | 0 | | | James A. Harrell, III | | | DB Restoration | | | | 32.50 | | | | | 2,474,177 | | | | | 0 | | | ||||||
| Total | | | | | | | | | 2,299,344 | | | | | 0 | | | | | | | | | | | | | 2,474,177 | | | | | 0 | | | |||||||||||
| Julie C. Albrecht(2) | | | | | | | | | | | | | | | | | | |
| (a) | | (b) | | (c) | | (d) | | (e) | | (f) | | (a) | | (b) | | (c) | | (d) | | (e) | | (f) | | ||||||||||||||||||||||||||||||||||||||||
| Name | | Executive Contributions in 2022(1)(2) ($) | | Registrant Contributions in 2022(2) ($) | | Aggregate Earnings in 2022(2)(3) ($) | | Aggregate Withdrawals/ Distributions in 2022 ($) | | Aggregate Balance at End of 2022(2)(4) ($) | | Name | | Executive Contributions in 2023(1)(2) ($) | | Registrant Contributions in 2023(2) ($) | | Aggregate Earnings in 2023(2)(3) ($) | | Aggregate Withdrawals/ Distributions in 2023 ($) | | Aggregate Balance at End of 2023(2)(4) ($) | | ||||||||||||||||||||||||||||||||||||||||
| R. Howard Coker | | | | | | | | | | | | | | | | | | | | | | | | | | | R. Howard Coker | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| DC Restoration | | | | 0 | | | | $ | 216,807 | | | | $ | (104,395) | | | | | 0 | | | | $ | 666,157 | | | DC Restoration | | | | 0 | | | | $ | 290,740 | | | | $ | 131,429 | | | | | 0 | | | | $ | 1,088,327 | | | ||||||||||
| NQDC—Deferred PCSUs/RSUs | | | | 0 | | | | | 0 | | | | | 249,861 | | | | | 0 | | | | | 3,254,815 | | | NQDC—Deferred PCSUs/RSUs | | | | 0 | | | | | 0 | | | | | (151,868) | | | | | 0 | | | | | 3,102,947 | | | ||||||||||
| DCSERP (Deferred Cash) | | | | 0 | | | | | 230,661 | | | | | 16,602 | | | | | 0 | | | | | 1,249,079 | | | DC SERP (Deferred Cash) | | | | 0 | | | | | 89,429 | | | | | 44,076 | | | | | 0 | | | | | 1,374,987 | | | ||||||||||
| DCSERP (Deferred Stock) | | | | 0 | | | | | 55,443 | | | | | 90,474 | | | | | 0 | | | | | 473,295 | | | DC SERP (Deferred Stock) | | | | 0 | | | | | 76,887 | | | | | 49,162 | | | | | 0 | | | | | 522,457 | | | ||||||||||
| Robert R. Dillard | | | | | | | | | | | | | | | | | | | | | | | | | | | Robert R. Dillard | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| DC Restoration | | | | 0 | | | | | 65,572 | | | | | (10,293) | | | | | 0 | | | | | 116,759 | | | DC Restoration | | | | 0 | | | | | 102,833 | | | | | 35,476 | | | | | 0 | | | | | 255,067 | | | ||||||||||
| NQDC—Deferred PCSUs/RSUs | | | | 0 | | | | | 0 | | | | | 26,643 | | | | | 0 | | | | | 369,809 | | | NQDC—Deferred PCSUs/RSUs | | | | 0 | | | | | 0 | | | | | (21,644) | | | | | 0 | | | | | 348,165 | | | ||||||||||
| DCSERP (Deferred Cash) | | | | 0 | | | | | 87,824 | | | | | 1,126 | | | | | 0 | | | | | 156,951 | | | DC SERP (Deferred Cash) | | | | 0 | | | | | 49,122 | | | | | 5,569 | | | | | 0 | | | | | 211,642 | | | ||||||||||
| DCSERP (Deferred Stock) | | | | 0 | | | | | 19,769 | | | | | 21,900 | | | | | 0 | | | | | 24,679 | | | DC SERP (Deferred Stock) | | | | 0 | | | | | 29,275 | | | | | 26,861 | | | | | 0 | | | | | 51,540 | | | ||||||||||
| Rodger D. Fuller | | | | | | | | | | | | | | | | | | | | | | | | | | | Rodger D. Fuller | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| DC Restoration | | | | 0 | | | | | 119,264 | | | | | (78,327) | | | | | 0 | | | | | 781,980 | | | DC Restoration | | | | 0 | | | | | 142,742 | | | | | 111,838 | | | | | 0 | | | | | 1,036,559 | | | ||||||||||
| NQDC—Deferred PCSUs/RSUs | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | NQDC—Deferred PCSUs/RSUs | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | ||||||||||
| DCSERP (Deferred Cash) | | | | 0 | | | | | 124,550 | | | | | 4,122 | | | | | 0 | | | | | 377,221 | | | DC SERP (Deferred Cash) | | | | 0 | | | | | 56,236 | | | | | 13,252 | | | | | 0 | | | | | 442,607 | | | ||||||||||
| DCSERP (Deferred Stock) | | | | 0 | | | | | 35,236 | | | | | 41,282 | | | | | 0 | | | | | 89,875 | | | DC SERP (Deferred Stock) | | | | 0 | | | | | 41,517 | | | | | 34,235 | | | | | 0 | | | | | 124,110 | | | ||||||||||
| John M. Florence, Jr. | | | | | | | | | | | | | | | | | | | | | | | | | | | John M. Florence, Jr. | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| DC Restoration | | | | 0 | | | | | 72,008 | | | | | (32,771) | | | | | 0 | | | | | 202,710 | | | DC Restoration | | | | 0 | | | | | 85,996 | | | | | 46,172 | | | | | 0 | | | | | 334,879 | | | ||||||||||
| NQDC—Deferred PCSUs/RSUs | | | $ | 108,283 | | | | | 0 | | | | | 31,878 | | | | | 0 | | | | | 415,220 | | | NQDC—Deferred PCSUs/RSUs | | | $ | 1,282,271 | | | | | 0 | | | | | (41,174) | | | | | 0 | | | | | 1,766,051 | | | ||||||||||
| DCSERP (Deferred Cash) | | | | 0 | | | | | 82,543 | | | | | 3,930 | | | | | 0 | | | | | 323,709 | | | DC SERP (Deferred Cash) | | | | 0 | | | | | 41,875 | | | | | 11,487 | | | | | 0 | | | | | 377,071 | | | ||||||||||
| DCSERP (Deferred Stock) | | | | 0 | | | | | 23,212 | | | | | 30,369 | | | | | 0 | | | | | 89,596 | | | D CSERP (Deferred Stock) | | | | 0 | | | | | 27,514 | | | | | 22,155 | | | | | 0 | | | | | 111,751 | | | ||||||||||
| James A. Harrell, III | | | | | | | | | | | | | | | | | | | | | | | | | | | James A. Harrell, III | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||
| DC Restoration | | | | 0 | | | | | 75,153 | | | | | (62,763) | | | | | 0 | | | | | 369,518 | | | DC Restoration | | | | 0 | | | | | 93,756 | | | | | 66,218 | | | | | 0 | | | | | 529,492 | | | ||||||||||
| Deferred PCSUs/RSUs | | | | 0 | | | | | 0 | | | | | 63,827 | | | | | 0 | | | | | 831,472 | | | NQDC—Deferred PCSUs/RSUs | | | | 0 | | | | | 0 | | | | | (38,794) | | | | | 0 | | | | | 792,678 | | | ||||||||||
| DCSERP (Deferred Cash) | | | | 0 | | | | | 87,265 | | | | | 10,986 | | | | | 0 | | | | | 761,265 | | | DC SERP (Deferred Cash) | | | | 0 | | | | | 45,276 | | | | | 26,920 | | | | | 0 | | | | | 830,587 | | | ||||||||||
| DCSERP (Deferred Stock) | | | | 0 | | | | | 23,252 | | | | | 47,334 | | | | | 0 | | | | | 319,747 | | | DC SERP (Deferred Stock) | | | | 0 | | | | | 29,088 | | | | | 11,992 | | | | | 0 | | | | | 331,739 | | | ||||||||||
| Julie C. Albrecht | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||
| DC Restoration | | | | 0 | | | | | 78,969 | | | | | (43,250) | | | | | 0 | | | | | 267,220 | | | |||||||||||||||||||||||||||||||||||||
| Deferred PCSUs/RSUs | | | | 0 | | | | | 0 | | | | | (93,087) | | | | | 0 | | | | | 247,521 | | | |||||||||||||||||||||||||||||||||||||
| DCSERP (Deferred Cash) | | | | 0 | | | | | 55,619 | | | | | 3,732 | | | | | 0 | | | | | 279,748 | | | |||||||||||||||||||||||||||||||||||||
| DCSERP (Deferred Stock) | | | | 0 | | | | | 32,713 | | | | | 36,539 | | | | | 0 | | | | | 80,234 | | |
| Name | | Amounts in column (b) above reported in the 2022 Summary Compensation Table ($) | | Amounts in column (c) above reported in the 2022 Summary Compensation Table ($) | | Amounts in column (d) above reported in the 2022 Summary Compensation Table ($) | | Amounts in column (f) above previously reported as compensation in the Summary Compensation Table for previous years ($) | | Amounts in column (f) above payable in Company Stock rather than cash ($) | | Name | | Amounts in column (b) above reported in the 2023 Summary Compensation Table | | Amounts in column (c) above reported in the 2023 Summary Compensation Table | | Amounts in column (d) above reported in the 2023 Summary Compensation Table | | Amounts in column (f) above previousily reported as compensation in the Summary Compensation Table for previous years | | Amounts in column (f) above payable in Company Stock rather than cash | | ||||||||||||||||||||||||||||||||||||||||
| R. Howard Coker | | | | 0 | | | | $ | 502,911 | | | | | 0 | | | | $ | 6,647,290 | | | | $ | 3,728,110 | | | R. Howard Coker | | | | 0 | | | | $ | 457,056 | | | | | 0 | | | | $ | 3,846,419 | | | | $ | 3,625,404 | | | ||||||||||
| Robert R. Dillard | | | | 0 | | | | | 173,165 | | | | | 0 | | | | | 173,165 | | | | | 394,488 | | | Robert R. Dillard | | | | 0 | | | | | 181,229 | | | | | 0 | | | | | 297,877 | | | | | 399,705 | | | ||||||||||
| Rodger D. Fuller | | | | 0 | | | | | 279,049 | | | | | 0 | | | | | 650,257 | | | | | 89,875 | | | Rodger D. Fuller | | | | 0 | | | | | 240,494 | | | | | 0 | | | | | 838,087 | | | | | 124,110 | | | ||||||||||
| John M. Florence, Jr. | | | $ | 108,283 | | | | | 177,763 | | | | | 0 | | | | | 489,094 | | | | | 504,816 | | | John M. Florence, Jr. | | | $ | 1,282,271 | | | | | 155,385 | | | | | 0 | | | | | 1,890,428 | | | | | 1,877,802 | | | ||||||||||
| James A. Harrell, III | | | | 0 | | | | | 185,670 | | | | | 0 | | | | | 450,436 | | | | | 1,151,219 | | | James A. Harrell, III | | | | 0 | | | | | 168,121 | | | | | 0 | | | | | 565,281 | | | | | 1,124,417 | | | ||||||||||
| Julie C. Albrecht | | | | 0 | | | | | 167,301 | | | | | 0 | | | | | 504,607 | | | | | 327,755 | | |
| | | | Voluntary | (1) or Involuntary for | Not for Cause | | | Retirement | | | Involuntary Not for Cause | | | Change-in- Control Disability | | | Disability | | ||||
| Cash Severance | | | Not eligible | | | Not eligible | | | CEO: 2 times Base Salary Other NEOs: 1 times Base Salary | | | CEO: 2.5 times (Base Salary + Target Incentive) Officers reporting to the CEO: 2.0 times (Base Salary + Target Incentive) All other Officers: 1.5 times (Base Salary + Target Incentive) | | | Not eligible | | ||||||
| Performance-based Annual Cash Incentive | | | Not eligible | | | Calculated at actual performance and prorated through the termination of employment | | | Calculated at actual performance and prorated through the termination of employment | | | Greater of Target or actual performance, and prorated through the termination of employment | | | Calculated at actual performance and prorated through the seperation of employment | | ||||||
| PCSUs—60% | | | Forfeit unvested shares | | | | | Continued vesting, as if employment had continued for a period of 12 months following the termination date. Vested shares determined by performance at end of performance period. | | | | | Vested shares determined by performance at end of performance period and are prorated based on period of employment during performance period | | ||||||||
| | | Forfeit unvested shares | | | Prorated vesting based on period of employment | | | Continued vesting, as if employment had continued for a period of 12 months following the termination date. | | | Immediate vesting upon termination | | | Immediate vesting upon death or disability | | |||||||
| RSUs— | | | Forfeit unvested shares | | | Forfeit unvested shares | | | Continued vesting, as if employment had continued for a period of 12 months following the termination date. | | | |||||||||||
Vests on a prorated basis through the termination of employment | | | Vests on a prorated basis through the death or disability, subject to approval by the Executive Compensation Committee | |
| | | | Voluntary | (1) or Involuntary for | Not for Cause | | | Retirement | | | Involuntary Not for Cause | | | Change-in- Control Disability | | | Disability | | ||||
| Health and Welfare Benefits | | | Not eligible | | | Not eligible | | | Eligible for up to 12 months of continued benefits at the employee rates | | | | | Disability: Coverage is continued for up to 12 months, then the employee and dependents are eligible to enroll in COBRA benefit continuation for up to 18 months Death: Any enrolled dependants are eligible to enroll in COBRA benefit continuation for up to 18 months | | |||||||
| Executive Life Insurance | | | Voluntary: Company-paid coverage will continue to be provided post-employment for a period of six months Involuntary for Cause: Company-paid coverage will cease upon termination | | | Company-paid coverage will continue to be provided post-employment for a period of six months | | | Company-paid coverage will continue to be provided post-employment for a period of six months | | | Company-paid coverage will continue to be provided post-employment for a period of six months | | | Company-paid coverage will continue to be provided for a period of six months after the Disability period | | ||||||
| Outplacement Services | | | Not eligible | | | Not eligible | | | Eligible for outplacement services, in an amount not to exceed $25,000 | | | Eligible for outplacement services, in an amount not to exceed $25,000 | | | Not eligible | |
| Name | | Voluntary Termination ($) | | Involuntary Termination— Not for Cause/ Resignation for Good Reason ($) | | Retirement ($) | | Termination following a Change-in-Control ($) | | Disability ($) | | Death ($) | | Name | | For Cause Termination ($) | | Voluntary Termination / Retirement ($) | | Involuntary Termination— Not for Cause / Resignation for Good Reason ($) | | Termination following a Change-in-Control ($) | | Disability ($) | | Death ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||
| R. Howard Coker | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | R. Howard Coker | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||
| Cash Severance | | | | 0 | | | | $ | 2,330,400 | | | | | 0 | | | | $ | 6,408,600 | | | | | 0 | | | | | 0 | | | Cash Severance | | | | 0 | | | | | 0 | | | | $ | 2,423,616 | | | | $ | 6,664,944 | | | | | 0 | | | | | 0 | | | ||||||||||||
| Unvested PCSUs(1) | | | | 0 | | | | | 1,736,144 | | | | $ | 3,199,608 | | | | | 3,199,608 | | | | $ | 3,199,608 | | | | $ | 3,199,608 | | | Unvested PCSUs(1) | | | | 0 | | | | $ | 4,022,989 | | | | | 5,348,479 | | | | | 4,022,989 | | | | $ | 4,022,989 | | | | $ | 4,022,989 | | | ||||||||||||
| Unvested RSUs(2) | | | | 0 | | | | | 1,310,439 | | | | | 1,310,439 | | | | | 5,515,382 | | | | | 5,515,382 | | | | | 5,515,382 | | | Unvested RSUs(2) | | | | 0 | | | | | 2,001,967 | | | | | 2,253,908 | | | | | 6,650,675 | | | | | 6,650,675 | | | | | 6,650,675 | | | ||||||||||||
| Company Paid Healthcare Premiums | | | | 0 | | | | | 6,384 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | Company pay healthcare premiums | | | | 0 | | | | | 0 | | | | | 13,249 | | | | | 0 | | | | | 0 | | | | | 0 | | | ||||||||||||
| Executive Life Insurance Plan Lump Sum(3) | | | | | | | | | 4,695 | | | | | | | | | | | | | | | | | | | | 2,000,000 | | | Executive Life Insurance Plan Lump Sum(3) | | | | | | | | | 8,900 | | | | | 8,900 | | | | | | | | | | | | | | | 3,500,000 | | | ||||||||||||
| Robert R. Dillard | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Robert R. Dillard | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||
| Cash Severance | | | | 0 | | | | | 595,872 | | | | | 0 | | | | | 2,204,726 | | | | | 0 | | | | | 0 | | | Cash Severance | | | | 0 | | | | | 0 | | | | | 697,164 | | | | | 2,579,507 | | | | | 0 | | | | | 0 | | | ||||||||||||
| Unvested PCSUs(1) | | | | 0 | | | | | 141,090 | | | | | 0 | | | | | 260,554 | | | | | 260,554 | | | | | 260,554 | | | Unvested PCSUs(1) | | | | 0 | | | | | 0 | | | | | 322,705 | | | | | 519,191 | | | | | 519,191 | | | | | 519,191 | | | ||||||||||||
| Unvested RSUs(2) | | | | 0 | | | | | 106,477 | | | | | 0 | | | | | 1,237,282 | | | | | 1,237,282 | | | | | 1,237,282 | | | Unvested RSUs(2) | | | | 0 | | | | | 0 | | | | | 424,271 | | | | | 982,659 | | | | | 982,659 | | | | | 982,659 | | | ||||||||||||
| Company Paid Healthcare Premiums | | | | 0 | | | | | 7,793 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | Company pay healthcare premiums | | | | 0 | | | | | 0 | | | | | 18,269 | | | | | 0 | | | | | 0 | | | | | 0 | | | ||||||||||||
| Executive Life Insurance Plan Lump Sum(3) | | | | | | | | | 1,786 | | | | | | | | | | | | | | | | | | | | 1,250,000 | | | Executive Life Insurance Plan Lump Sum(3) | | | | | | | | | 4,529 | | | | | 4,529 | | | | | | | | | | | | | | | 1,750,000 | | | ||||||||||||
| Rodger D. Fuller | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Rodger D. Fuller | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||
| Cash Severance | | | | 0 | | | | | 732,720 | | | | | 0 | | | | | 2,747,700 | | | | | 0 | | | | | 0 | | | Cash Severance | | | | 0 | | | | | 0 | | | | | 762,024 | | | | | 2,857,590 | | | | | 0 | | | | | 0 | | | ||||||||||||
| Unvested PCSUs(1) | | | | 0 | | | | | 716,176 | | | | | 1,167,980 | | | | | 1,167,980 | | | | | 1,167,980 | | | | | 1,167,980 | | | Unvested PCSUs(1) | | | | 0 | | | | | 1,200,946 | | | | | 1,599,672 | | | | | 1,200,946 | | | | | 1,200,946 | | | | | 1,200,946 | | | ||||||||||||
| Unvested RSUs(2) | | | | 0 | | | | | 449,234 | | | | | 449,234 | | | | | 1,492,798 | | | | | 1,492,798 | | | | | 1,492,798 | | | Unvested RSUs(2) | | | | 0 | | | | | 649,357 | | | | | 730,891 | | | | | 1,519,832 | | | | | 1,519,832 | | | | | 1,519,832 | | | ||||||||||||
| Company Paid Healthcare Premiums | | | | 0 | | | | | 6,384 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | Company pay healthcare premiums | | | | 0 | | | | | 0 | | | | | 13,249 | | | | | 0 | | | | | 0 | | | | | 0 | | | ||||||||||||
| Executive Life Insurance Plan Lump Sum(3) | | | | | | | | | 4,276 | | | | | | | | | | | | | | | | | | | | 2,000,000 | | | Executive Life Insurance Plan Lump Sum(3) | | | | | | | | | 4,468 | | | | | 4,468 | | | | | | | | | | | | | | | 2,000,000 | | | ||||||||||||
| John M. Florence, Jr. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | John M. Florence, Jr. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||
| Cash Severance | | | | 0 | | | | | 545,604 | | | | | 0 | | | | | 1,391,290 | | | | | 0 | | | | | 0 | | | Cash Severance | | | | 0 | | | | | 0 | | | | | 567,420 | | | | | 1,929,228 | | | | | 0 | | | | | 0 | | | ||||||||||||
| Unvested PCSUs(1) | | | | 0 | | | | | 368,955 | | | | | 0 | | | | | 610,654 | | | | | 610,654 | | | | | 610,654 | | | Unvested PCSUs(1) | | | | 0 | | | | | 0 | | | | | 645,410 | | | | | 632,727 | | | | | 632,727 | | | | | 632,727 | | | ||||||||||||
| Unvested RSUs(2) | | | | 0 | | | | | 237,635 | | | | | 0 | | | | | 770,228 | | | | | 770,228 | | | | | 770,228 | | | Unvested RSUs(2) | | | | 0 | | | | | 0 | | | | | 379,022 | | | | | 784,191 | | | | | 784,191 | | | | | 784,191 | | | ||||||||||||
| Company Paid Healthcare Premiums | | | | 0 | | | | | 8,053 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | Company pay healthcare premiums | | | | 0 | | | | | 0 | | | | | 18,269 | | | | | 0 | | | | | 0 | | | | | -0- | | | ||||||||||||
| Executive Life Insurance Plan Lump Sum(3) | | | | | | | | | 1,658 | | | | | | | | | | | | | | | | | | | | 1,250,000 | | | Executive Life Insurance Plan Lump Sum(3) | | | | | | | | | 1,733 | | | | | 1,733 | | | | | | | | | | | | | | | 1,250,000 | | | ||||||||||||
| James A. Harrell, III | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | James A. Harrell, III | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||
| Cash Severance | | | | 0 | | | | | 589,920 | | | | | 0 | | | | | 2,005,728 | | | | | 0 | | | | | 0 | | | Cash Severance | | | | 0 | | | | | 0 | | | | | 613,512 | | | | | 1,564,456 | | | | | 0 | | | | | 0 | | | ||||||||||||
| Unvested PCSUs(1) | | | | 0 | | | | | 195,324 | | | | | 375,487 | | | | | 375,487 | | | | | 375,487 | | | | | 375,487 | | | Unvested PCSUs(1) | | | | 0 | | | | | 479,616 | | | | | 641,263 | | | | | 479,616 | | | | | 479,616 | | | | | 479,616 | | | ||||||||||||
| Unvested RSUs(2) | | | | 0 | | | | | 155,134 | | | | | 155,134 | | | | | 513,971 | | | | | 513,971 | | | | | 513,971 | | | Unvested RSUs(2) | | | | 0 | | | | | 233,566 | | | | | 262,924 | | | | | 573,338 | | | | | 573,338 | | | | | 573,338 | | | ||||||||||||
| Company Paid Healthcare Premiums | | | | 0 | | | | | 6,644 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | Company pay healthcare premiums | | | | 0 | | | | | 0 | | | | | 13,249 | | | | | 0 | | | | | 0 | | | | | 0 | | | ||||||||||||
| Executive Life Insurance Plan Lump Sum(3) | | | | | | | | | 2,414 | | | | | | | | | | | | | | | | | | | | 1,250,000 | | | Executive Life Insurance Plan Lump Sum(3) | | | | 0 | | | | | 5,442 | | | | | 5,442 | | | | | | | | | | | | | | | 1,750,000 | | | ||||||||||||
| Julie C. Albrecht(4) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||
| Cash Severance | | | | 0 | | | | | 933,044 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | ||||||||||||||||||||||||||||||||||||||||||||
| Unvested PCSUs(1) | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | ||||||||||||||||||||||||||||||||||||||||||||
| Unvested RSUs(2) | | | | 0 | | | | | 608,375 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | ||||||||||||||||||||||||||||||||||||||||||||
| Company Paid Healthcare Premiums | | | | 0 | | | | | 4,015 | | | | | 0 | | | | | 0 | | | | | 0 | | | | | 0 | | | ||||||||||||||||||||||||||||||||||||||||||||
| Outplacement Services | | | | | | | | | 25,000 | | | | | | | | | | | | | | | | | | | | 0 | | | ||||||||||||||||||||||||||||||||||||||||||||
| Executive Life Insurance Plan Lump Sum(3) | | | | | | | | | 3,129 | | | | | | | | | | | | | | | | | | | | 1,750,000 | | |
| (a) | | (b) | | (c) | | (d) | | (e) | | (f) | | (g) | | (h) | | (i) | | (j) | | (k) | | (a) | | (b) | | (c) | | (d) | | (e) | | (f) | | (g) | | (h) | | (i) | | (j) | | (k) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Year | | Summary Compensation Table Total for First PEO(1) ($) | | Summary Compensation Table Total for Second PEO(2) ($) | | Compensation Actually Paid to First PEO(3) ($) | | Compensation Actually Paid to Second PEO(4) ($) | | Average Summary Compensation Table Total for Non-CEO NEOs(5) ($) | | Average Compensation Actually Paid for Non-CEO NEOs(6) ($) | | | Value of Initial Fixed td00 Investment Based on: | | | | | | Summary Compensation Table Total for First PEO(1) | | Summary Compensation Table Total for Second PEO(2) | | Compensation actually paid to First PEO(3)(4) | | Compensation actually paid to Second PEO(2)(4) | | Average Summary Compensation Table Total for Non-CEO NEOs(3) | | Average Compensation actually paid for Non-CEO NEOs(3) | | | Value of initial Fixed td00 Investment based on: | | | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| TSR(7) ($) | | Peer Group TSR(8) ($) | | Net Income (000s)(9) ($) | | Base EBITDA (000s)(10) ($) | | Year | | TSR(5) | | Peer Group TSR(6) | | Net Income (000s) | | Base EBITDA(7) (000s) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2022 | | | | 9,794,049 | | | | | | | | | | 16,265,473 | | | | | | | | | | 2,725,992 | | | | | 3,279,346 | | | | | 108.05 | | | | | 110.26 | | | | | 466,980 | | | | | 1,147,809 | | | 2023 | | | $ | 8,538,593 | | | | | | | | | $ | 4,755,985 | | | | | | | | | $ | 2,178,332 | | | | $ | 1,898,091 | | | | $ | 103.03 | | | | $ | 118.91 | | | | $ | 474,959 | | | | $ | 1,049,857 | | | ||||||||||||||||||||
| 2021 | | | | 6,618,454 | | | | | | | | | | 9,843,147 | | | | | | | | | | 2,476,273 | | | | | 3,575,707 | | | | | 99.75 | | | | | 142.14 | | | | | (82,711) | | | | | 760,466 | | | 2022 | | | | 9,794,049 | | | | | | | | | | 16,284,414 | | | | | | | | | | 2,725,992 | | | | | 3,254,066 | | | | | 108.05 | | | | | 110.49 | | | | | 466,980 | | | | | 1,147,809 | | | ||||||||||||||||||||
| 2020 | | | | 6,815,923 | | | | | 1,934,105 | | | | | 5,088,280 | | | | | (2,271,154) | | | | | 2,530,532 | | | | | 1,557,308 | | | | | 99.24 | | | | | 128.66 | | | | | 207,241 | | | | | 786,692 | | | 2021 | | | | 6,618,454 | | | | | | | | | | 9,843,147 | | | | | | | | | | 2,476,273 | | | | | 3,575,707 | | | | | 99.75 | | | | | 134.41 | | | | | (82,711) | | | | | 758,033 | | | ||||||||||||||||||||
| 2020 | | | | 6,815,923 | | | | $ | 1,934,105 | | | | | 5,088,280 | | | | $ | (2,271,154) | | | | | 2,530,532 | | | | | 1,557,308 | | | | | 99.24 | | | | | 121.14 | | | | | 207,241 | | | | | 789,735 | | |
| Year | | | Reported Summary Compensation Table Total for PEO ($) | | | Reported Value of Equity Awards(a) ($) | | | Equity Award Adjustments(b) ($) | | | Reported Change in the Actuarial Present Value of Pension Benefits(c) ($) | | | Pension Benefit Adjustments(d) ($) | | | Compensation Actually Paid ($) | | ||||||||||||||||||
| 2022 | | | | | 9,794,049 | | | | | | (6,205,527) | | | | | | 12,676,951 | | | | | | 0 | | | | | | 0 | | | | | | 16,265,473 | | |
| 2021 | | | | | 6,618,454 | | | | | | (4,038,338) | | | | | | 7,263,031 | | | | | | 0 | | | | | | 0 | | | | | | 9,843,147 | | |
| 2020 | | | | | 6,815,923 | | | | | | (4,020,436) | | | | | | 3,311,067 | | | | | | (1,018,274) | | | | | | 0 | | | | | | 5,088,280 | | |
| Year | | | Year End Fair Value of Equity Awards Granted that are Unvested in the Year ($) | | | Year End Fair Value of Outstanding Equity Awards Granted and Unvested in the Year ($) | | | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($) | | | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($) | | | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($) | | | Value of Dividends or Other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation ($) | | | Total Equity Award Adjustments ($) | | |||||||||||||||||||||
| 2022 | | | | | 10,779,310 | | | | | | 581,110 | | | | | | 55,444 | | | | | | 1,205,478 | | | | | | 0 | | | | | | 55,610 | | | | | | 12,676,951 | | |
| 2021 | | | | | 6,190,510 | | | | | | 996,078 | | | | | | 38,276 | | | | | | (22,559) | | | | | | 0 | | | | | | 60,727 | | | | | | 7,263,031 | | |
| 2020 | | | | | 3,636,584 | | | | | | (196,412) | | | | | | 20,306 | | | | | | (216,127) | | | | | | 0 | | | | | | 66,716 | | | | | | 3,311,067 | | |
| Year | | | Reported Summary Compensation Table Total for PEO ($) | | | Reported Value of Equity Awards(a) ($) | | | Equity Award Adjustments(b) ($) | | | Reported Change in the Actuarial Present Value of Pension Benefits(c) ($) | | | Pension Benefit Adjustments(d) ($) | | | Compensation actually paid ($) | | ||||||||||||||||||
| 2020 | | | | | 1,934,105 | | | | | | (42,259) | | | | | | (4,163,000) | | | | | | 0 | | | | | | 0 | | | | | | (2,271,154) | | |
| Year | | | Year End Fair Value of Equity Awards Granted that are Unvested in the Year ($) | | | Year End Fair Value of Outstanding Equity Awards Granted and Unvested in the Year ($) | | | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($) | | | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($) | | | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($) | | | Value of Dividends or Other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation ($) | | | Total Equity Award Adjustments ($) | | |||||||||||||||||||||
| 2020 | | | | | 0 | | | | | | (173,277) | | | | | | 42,259 | | | | | | (893,944) | | | | | | (3,138,038) | | | | | | 0 | | | | | | (4,163,000) | | |
Year | | | Non-CEO NEOs | |
2023 | | | Robert R. Dillard, Rodger D. Fuller, John M. Florence, Jr., James A. Harrell, III | |
2022 | | | Robert R. Dillard, Rodger D. Fuller, John M. Florence, Jr., James A. Harrell, Julie C. Albrecht | |
2021 | | | Julie C. Albrecht, Rodger D. Fuller, John M. Florence, Jr., Jeffery S. Tomaszewski, | |
2020 | | | Julie C. Albrecht, Rodger D. Fuller, John M. Florence, Jr., James A. Harrell, III | |
Year | | | Executive | | | Reported Summary Compensation Table Total | | | Reported Value of Equity Awards | | | Reported Change in the Actuarial Present Value of Pension Benefits | | | Pension Benefit Adjustments | | | Year End Fair Value of Equity Awards Granted that are Unvested in the year | | | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards | | | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year | | | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year | | | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year | | | Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation | | | Compensation Actually paid | | |||||||||||||||||||||||||||||||||
2023 | | | First PEO | | | | $ | 8,538,593 | | | | | $ | (6,876,983) | | | | | | 0 | | | | | | 0 | | | | | $ | 3,929,477 | | | | | $ | (725,784) | | | | | $ | 76,924 | | | | | $ | (263,750) | | | | | | 0 | | | | | $ | 77,508 | | | | | $ | 4,755,985 | | |
| Avg NEO | | | | | 2,178,332 | | | | | | (1,350,697) | | | | | | 0 | | | | | | 0 | | | | | | 763,944 | | | | | | (82,854) | | | | | | 17,671 | | | | | | 368,713 | | | | | | 0 | | | | | | 2,982 | | | | | | 1,898,091 | | | ||
2022 | | | First PEO | | | | | 9,794,049 | | | | | | (6,205,527) | | | | | | 0 | | | | | | 0 | | | | | | 10,779,308 | | | | | | 581,110 | | | | | | 55,444 | | | | | | 1,205,478 | | | | | | 0 | | | | | | 74,552 | | | | | | 16,284,414 | | |
| Avg NEO | | | | | 2,725,992 | | | | | | (1,256,896) | | | | | | 0 | | | | | | 0 | | | | | | 1,845,762 | | | | | | 144,056 | | | | | | 18,035 | | | | | | 484,261 | | | | | $ | (708,330) | | | | | | 1,186 | | | | | | 3,254,066 | | | ||
2021 | | | First PEO | | | | | 6,618,454 | | | | | | (4,038,338) | | | | | | 0 | | | | | | 0 | | | | | | 6,190,509 | | | | | | 996,078 | | | | | | 38,276 | | | | | | (22,559) | | | | | | 0 | | | | | | 60,727 | | | | | | 9,843,147 | | |
| Avg NEO | | | | | 2,476,273 | | | | | | (1,141,733) | | | | | | 0 | | | | | | 0 | | | | | | 1,731,455 | | | | | | 506,431 | | | | | | 7,286 | | | | | | (8,536) | | | | | | 0 | | | | | | 4,531 | | | | | | 3,575,707 | | | ||
2020 | | | First PEO | | | | | 6,815,923 | | | | | | (4,020,436) | | | | | $ | (1,018,274) | | | | | | 0 | | | | | | 3,636,584 | | | | | | (196,412) | | | | | | 20,306 | | | | | | (216,127) | | | | | | 0 | | | | | | 66,716 | | | | | | 5,088,280 | | |
| Second PEO | | | | | 1,934,105 | | | | | | (42,259) | | | | | | 0 | | | | | | 0 | | | | | | (173,277) | | | | | | 42,259 | | | | | | (893,944) | | | | | | (3,138,038) | | | | | | 0 | | | | | | 0 | | | | | | (2,271,154) | | | ||
| Avg NEO | | | | | 2,530,532 | | | | | | (963,934) | | | | | | (506,939) | | | | | | 0 | | | | | | 734,433 | | | | | | (116,406) | | | | | | 5,077 | | | | | | (126,593) | | | | | | 0 | | | | | | 1,138 | | | | | | 1,557,308 | | |
| Year | | | Reported Summary Compensation Table Total for non-PEO NEOs ($) | | | Reported Value of Equity Awards(a) ($) | | | Equity Award Adjustments(b) ($) | | | Reported Change in the Actuarial Present Value of Pension Benefits(c) ($) | | | Pension Benefit Adjustments(d) ($) | | | Compensation Actually Paid ($) | | ||||||||||||||||||
| 2022 | | | | | 2,725,992 | | | | | | (1,256,896) | | | | | | 1,810,250 | | | | | | 0 | | | | | | 0 | | | | | | 3,279,346 | | |
| 2021 | | | | | 2,476,273 | | | | | | (1,141,733) | | | | | | 2,241,167 | | | | | | 0 | | | | | | 0 | | | | | | 3,575,707 | | |
| 2020 | | | | | 2,530,532 | | | | | | (963,934) | | | | | | 497,648 | | | | | | (506,939) | | | | | | 0 | | | | | | 1,557,308 | | |
| Year | | | Year End Fair Value of Equity Awards Granted that are Unvested in the Year ($) | | | Year End Fair Value of Outstanding Equity Awards Granted and Unvested in the Year ($) | | | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($) | | | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($) | | | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($) | | | Value of Dividends or Other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation ($) | | | Total Equity Award Adjustments ($) | | |||||||||||||||||||||
| 2022 | | | | | 1,845,761 | | | | | | 168,764 | | | | | | 18,583 | | | | | | 483,614 | | | | | | (708,330) | | | | | | 1,859 | | | | | | 1,810,250 | | |
| 2021 | | | | | 1,731,454 | | | | | | 506,431 | | | | | | 7,286 | | | | | | (8,536) | | | | | | 0 | | | | | | 4,531 | | | | | | 2,241,167 | | |
| 2020 | | | | | 734,432 | | | | | | (116,406) | | | | | | 5,077 | | | | | | (126,593) | | | | | | 0 | | | | | | 1,138 | | | | | | 497,648 | | |
| As shown in the graph below, the Company’s cumulative TSR over the four-year period presented in the table was 3.03%, while the cumulative TSR of the peer group presented for this purpose, the Dow Jones Container and Packaging Index, was 18.91% over the three years presented in the table. | | | COMPANY TSR VERSUS PEER GROUP | |
| The relative alignment of compensation actually paid with the Company’s cumulative TSR over the period presented is because a significant portion of the compensation actually paid to Mr. Coker and to the other NEOs is comprised of equity awards. As described in more detail in the section “Executive Compensation—Compensation Discussion and Analysis,” the Company targets approximately 72% of Mr. Coker’s and 54% of the other NEO’s total target compensation awarded to be comprised of equity awards, including restricted stock units and performance-based restricted stock units. The CAP for Mr. Tiede, the former CEO, who retired in February 2020, has been excluded from this graph. | | | COMPENSATION ACTUAL PAID VS. COMPANY TSR | |
| COMPENSATION PAID VS. NET INCOME | | | As described in more detail in the section “Executive Compensation—Compensation Discussion and Analysis,” the Company targets that approximately 15% and 20% of the value of total compensation awarded to Mr. Coker and the other NEOs, respectively, consists of amounts determined under the Company Performance-based Annual Cash Incentive program. The CAP for Mr. Tiede, the former CEO, who retired in February 2020, has been excluded from this graph. | |
| | PROPOSAL 3 | | | | | | The Board of Directorsrecommends that you vote FOR the compensation of | | |
| | ADVISORY (NON-BINDING) VOTE TO APPROVE EXECUTIVE COMPENSATION | | |
| | PROPOSAL 4 | | | | | | The Board of Directors recommends that you vote | | |
| | | |
| | | | 2021 | | | 2022 | | | 2023 | | | 3-Year Average | | ||||||||||||
| Stock Options/SARs Granted | | | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
| Time-Vested Restricted Shares/Units Granted | | | | | 201,570 | | | | | | 291,365 | | | | | | 325,771 | | | | | | 272,902 | | |
| Performance-Based Shares/Units Earned | | | | | 64,243 | | | | | | 280,881 | | | | | ��� | 225,530 | | | | | | 190,218 | | |
| Weighted-Average Shares Outstanding | | | | | 99,608,000 | | | | | | 97.991,000 | | | | | | 98,294,000 | | | | | | 98,631,000 | | |
| Share Usage Rate | | | 0.27% | | | 0.58% | | | 0.56% | | | 0.47% | |
| Shares available for grant under the 2019 Plan* | | | 5,069768 | |
| Stock Options/SARs Outstanding* | | | 729,515 | |
| Weighted-Average Exercise Price of Outstanding Stock Options/SARs | | | $55.13 | |
| Weighted-Average Remaining Term of Outstanding Stock Options/SARs | | | 4.1 | |
| Total Full-Value Awards Outstanding | | | 1,317,155 | |
| Shares Outstanding as of the Record Date | | | 97,957,000 | |
| | PROPOSAL 5 | | | | | | The Board of Directors recommends that you vote AGAINST the advisory (non-binding) shareholder | | |
| | ADVISORY (NON-BINDING) SHAREHOLDER PROPOSAL SHAREHOLDER MEETING IMPROVEMENT | | |
| | | Date and Time | | | | | Place | | | | | Record Date | | | | | Live Audio Cast and Replay | | ||||
| Wednesday, April 11:00 a.m. Eastern Time | | | Watson Theater, Coker University 104 Campus Drive Hartsville, South Carolina | | | February at close of business | | | investor.sonoco.com | |
| | | | | | |||
| • You may vote by telephone (if you live in the United States) using the toll-free number shown on your proxy card. • You must have a touch-tone telephone to use this option. • Telephone voting is available 24 hours a day, seven days a week. • Clear and simple voice prompts allow you to vote your shares and confirm that your instructions have been properly recorded. | | | • You may vote through the Internet. The website for Internet voting is shown on your proxy card. • Internet voting is available 24 hours a day, seven days a week. • When you vote through the Internet, you will be given the opportunity to confirm that your instructions have been properly recorded. | | | • If you choose to vote by mail, please mark the enclosed proxy card, sign and date it, and return it in the enclosed postage-paid envelope. | |
| Items of Business | | Board Recommendation | | See Page | | Items of Business | | Board Recommendation | | See Page | | ||||||||||||||||
| 1 | | Proposal 1—Election of 11 Directors | | | FOR all nominees for director | | | 1 | | Proposal 1—Election of 11 Directors | | | FOR all nominees for director | | | ||||||||||||
| 2 | | Proposal 2—Ratification of Independent Registered Public Accounting Firm | | | FOR | | | 2 | | Proposal 2—Ratification of Independent Registered Public Accounting Firm | | | FOR | | | ||||||||||||
| 3 | | Proposal 3—Advisory (Non-binding) Vote on Executive Compensation | | | FOR | | | 3 | | Proposal 3—Advisory (Non-binding) Vote on Executive Compensation | | | FOR | | | ||||||||||||
| 4 | | Proposal 4—Advisory (Non-binding) Vote on the Frequency of the Vote on Executive Compensation | | | FOR every ONE YEAR | | | 4 | | Proposal 4—Approval of the 2024 Omnibus Incentive Plan | | | FOR | | | ||||||||||||
| 5 | | Proposal 5—Advisory (Non-binding) Shareholder Proposal Regarding Special Shareholder Meeting Improvement | | | AGAINST | | | 5 | | Proposal 5—Advisory (Non-binding) Shareholder Proposal Regarding Transparency in Political Spending | | | AGAINST | | |
| Proposals | | | Voting Requirements | | | Effect of Abstentions and Broker Non-Votes | | |||
| 1 | | | Election of 11 directors | | | | | Abstentions or shares that are not voted (including broker non-votes) will have no effect on the outcome of the matter. | | |
| 2 | | | Ratification of independent registered public accounting firm | | | The ratification of the independent registered public accounting firm will be approved if the votes cast in favor exceed the votes cast against the matter. Cumulative voting is not permitted. | | | Abstentions or shares that are not voted will have no effect on the outcome of the matter. This matter is considered “routine,” and if you hold your shares in street name, your broker may vote on this matter even if you have not provided voting instructions. | |
| 3 | | | Advisory (non-binding) vote to approve executive compensation | | | The vote on the advisory (non-binding) resolution to approve executive compensation will be approved if the votes cast in favor of the matter exceed the votes cast against the matter. However, the vote is non-binding on | | | Abstentions or shares that are not voted (including broker non-votes) will have no effect on the outcome of the matter. | |
| 4 | | | | | | | Abstentions or shares that are not voted (including broker non-votes) will have no effect on the outcome of the matter. | | ||
| 5 | | | Advisory (non-binding) shareholder proposal regarding | | | The vote on the advisory (non-binding) shareholder proposal will be approved if the votes cast in favor of the matter exceed the votes cast against the matter. Because the proposal is non-binding, its effect will be to inform the Board of Directors of the preferences of shareholders casting votes on the proposal. Cumulative voting is not permitted. | | | Abstentions or shares that are not voted (including broker non-votes) will have no effect on the outcome of the matter. | |
| MAIL | | | TELEPHONE | |
| Sonoco Products Company c/o Continental Stock Transfer and Trust Company 1 State Street Plaza, 30th Floor New York, NY 10004 US | | | (866) 509-5584 | |
| | | By order of the Board of Directors, JOHN M. FLORENCE, JR. Hartsville, South Carolina 29550 March | |
| | | | For the Year Ended | | |||||||||||||||||||||
| | | | December 31, 2023 | | | December 31, 2022 | | | December 31, 2021 | | | December 31, 2020 | | ||||||||||||
| Operating Profit (GAAP) | | | | $ | 715,790 | | | | | $ | 675,396 | | | | | $ | 486,853 | | | | | $ | 357,804 | | |
| Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Acquisition, integration and divestiture-related costs | | | | | 26,254 | | | | | | 70,210 | | | | | | 17,722 | | | | | | 4,671 | | |
| Changes in LIFO inventory reserves | | | | | (11,817) | | | | | | 28,445 | | | | | | 2,529 | | | | | | — | | |
| Amortization of acquisition intangibles | | | | | 87,264 | | | | | | 80,427 | | | | | | 49,419 | | | | | | 52,899 | | |
| Restructuring/Asset impairment charges | | | | | 56,933 | | | | | | 56,910 | | | | | | 14,210 | | | | | | 145,580 | | |
| (Gain)/Loss on divestiture of business and other assets | | | | | (78,929) | | | | | | — | | | | | | 2,667 | | | | | | 14,516 | | |
| Net (gain)/loss from derivatives | | | | | (1,912) | | | | | | 8,767 | | | | | | (4,036) | | | | | | — | | |
| Other adjustments | | | | | 10,142 | | | | | | (290) | | | | | | (4,580) | | | | | | 4,418 | | |
| Total adjustments | | | | $ | 87,935 | | | | | $ | 244,469 | | | | | $ | 77,931 | | | | | $ | 222,084 | | |
| Base Operating Profit (Non-GAAP) | | | | $ | 803,725 | | | | | $ | 919,865 | | | | | $ | 564,784 | | | | | $ | 579,888 | | |
| | | | For the year ended December 31, 2022 | | |||||||||||||||||||||||||||||||||
| Dollars and shares in thousands, except per share data | | | GAAP | | | Restructuring/ Asset Impairment(1) | | | Amortization of Acquisition Intangibles(2) | | | Acquisition/ Divestiture Related Costs(3) | | | Other Adjustments(4) | | | Base | | ||||||||||||||||||
| Operating profit | | | | $ | 675,396 | | | | | $ | 56,910 | | | | | $ | 80,427 | | | | | $ | 70,210 | | | | | $ | 36,922 | | | | | $ | 919,865 | | |
| Non-operating pension costs | | | | | 7,073 | | | | | | — | | | | | | — | | | | | | — | | | | | | (7,073) | | | | | | — | | |
| Interest expense, net | | | | | 97,041 | | | | | | — | | | | | | — | | | | | | — | | | | | | 136 | | | | | | 97,177 | | |
| Income before income taxes | | | | | 571,282 | | | | | | 56,910 | | | | | | 80,427 | | | | | | 70,210 | | | | | | 43,859 | | | | | | 822,688 | | |
| Provision for income taxes | | | | | 118,509 | | | | | | 11,269 | | | | | | 19,554 | | | | | | 17,640 | | | | | | 29,788 | | | | | | 196,760 | | |
| Income before equity in earnings of affiliates | | | | | 452,773 | | | | | | 45,641 | | | | | | 60,873 | | | | | | 52,570 | | | | | | 14,071 | | | | | | 625,928 | | |
| Equity in earnings of affiliates, net of tax | | | | | 14,207 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 14,207 | | |
| Net income | | | | | 466,980 | | | | | | 45,641 | | | | | | 60,873 | | | | | | 52,570 | | | | | | 14,071 | | | | | | 640,135 | | |
| Less: Net (income) attributable to noncontrolling interests, net of tax | | | | | (543) | | | | | | (99) | | | | | | — | | | | | | — | | | | | | — | | | | | | (642) | | |
| Net income attributable to Sonoco | | | | $ | 466,437 | | | | | $ | 45,542 | | | | | $ | 60,873 | | | | | $ | 52,570 | | | | | $ | 14,071 | | | | | $ | 639,493 | | |
| Diluted weighted average common shares outstanding: | | | | | 98,732 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 98,732 | | |
| Per diluted common share | | | | $ | 4.72 | | | | | $ | 0.46 | | | | | $ | 0.62 | | | | | $ | 0.53 | | | | | $ | 0.14 | | | | | $ | 6.48 | | |
| | | | For the year ended December 31, 2021 | | |||||||||||||||||||||||||||||||||
| Dollars and shares in thousands, except per share data | | | GAAP | | | Restructuring/ Asset Impairment(1) | | | Amortization of Acquisition Intangibles(2) | | | Acquisition/ Divestiture Related Costs(3) | | | Other Adjustments(5) | | | Base | | ||||||||||||||||||
| Operating profit | | | | $ | 486,853 | | | | | $ | 14,210 | | | | | $ | 49,419 | | | | | $ | 17,722 | | | | | $ | (3,420) | | | | | $ | 564,784 | | |
| Non-operating pension costs | | | | | 568,416 | | | | | | — | | | | | | — | | | | | | — | | | | | | (568,416) | | | | | | — | | |
| Interest expense, net | | | | | 59,235 | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,165 | | | | | | 61,400 | | |
| Loss from the early extinguishment of debt | | | | | 20,184 | | | | | | — | | | | | | — | | | | | | — | | | | | | (20,184) | | | | | | — | | |
| (Loss)/Income before income taxes | | | | | (160,982) | | | | | | 14,210 | | | | | | 49,419 | | | | | | 17,722 | | | | | | 583,015 | | | | | | 503,384 | | |
| (Benefit from)/Provision for income taxes | | | | | (67,430) | | | | | | 5,363 | | | | | | 12,241 | | | | | | 3,535 | | | | | | 165,531 | | | | | | 119,240 | | |
| (Loss)/Income before equity in earnings of affiliates | | | | | (93,552) | | | | | | 8,847 | | | | | | 37,178 | | | | | | 14,187 | | | | | | 417,484 | | | | | | 384,144 | | |
| Equity in earnings of affiliates, net of tax | | | | | 10,841 | | | | | | — | | | | | | — | | | | | | — | | | | | | (1,394) | | | | | | 9,447 | | |
| Net (loss)/income | | | | | (82,711) | | | | | | 8,847 | | | | | | 37,178 | | | | | | 14,187 | | | | | | 416,090 | | | | | | 393,591 | | |
| Less: Net (income) attributable to noncontrolling interests, net of tax | | | | | (2,766) | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,052 | | | | | | (714) | | |
| Net (loss)/income attributable to Sonoco | | | | $ | (85,477) | | | | | $ | 8,847 | | | | | $ | 37,178 | | | | | $ | 14,187 | | | | | $ | 418,142 | | | | | $ | 392,877 | | |
| Diluted weighted average common shares outstanding(6): | | | | | 99,608 | | | | | | | | | | | | | | | | | | | | | | | | 469 | | | | | | 100,077 | | |
| Per diluted common share | | | | $ | (0.86) | | | | | $ | 0.09 | | | | | $ | 0.37 | | | | | $ | 0.14 | | | | | $ | 4.18 | | | | | $ | 3.93 | | |
| | | | For the year ended December 31, 2023 | | |||
| Earnings Per Diluted Share (GAAP) | | | | $ | 4.80 | | |
| Adjustments: | | | | | | | |
| Acquisition, integration and divestiture-related costs | | | | | 0.20 | | |
| Changes in LIFO inventory reserves | | | | | (0.09) | | |
| Amortization of acquisition intangibles | | | | | 0.66 | | |
| Restructuring/Asset impairment charges | | | | | 0.44 | | |
| Gain on divestiture of business and other assets | | | | | (0.60) | | |
| Other income, net | | | | | (0.30) | | |
| Non-operating pension costs | | | | | 0.11 | | |
| Net gain from derivatives | | | | | (0.01) | | |
| Other adjustments | | | | | 0.05 | | |
| Total adjustments | | | | $ | 0.46 | | |
| Adjusted Earnings Per Diluted Share (Non-GAAP) | | | | $ | 5.26 | | |