Filed by the Registrant | | | ☒ |
Filed by a Party other than the Registrant | | | ☐ |
☐ | Preliminary Proxy Statement |
☒ | Definitive Proxy Statement |
☐ | Confidential, for use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
☐ | Definitive Additional Materials |
☐ | Soliciting Material Pursuant to § 240.14a-12 |
LOOP INDUSTRIES, INC. |
(Name of Registrant as Specified In Its Charter) |
(Name of Person(s) Filing Proxy Statement, if other than the Registrant) |
☒ | | | No fee required. | |||
☐ | | | Fee paid previously with preliminary materials. | |||
☐ | | | ||||
0-11. |
(1) | To elect |
(2) | To ratify the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the fiscal year ending February 28, |
(3) | To hold an advisory vote on executive compensation; and |
(4) | To transact such other business as may properly come before the meeting or any postponement or adjournment thereof. |
| | By Order of the Board of Directors, | |
| | ||
| | (s) Drew Hickey | |
| | Drew Hickey | |
| | Chief Financial Officer | |
| | Terrebonne, Québec |
Name | | | Age | | | Title |
Daniel Solomita | | | | | Chairman of the Board of Directors, Chief Executive Officer, and President | |
Andrew Lapham | | | | | Director, Chair of the Compensation Committee | |
Jonghyuk Lee(1) | | | 47 | | | Director |
Louise Sams | | | 64 | | | Director, Chair of the Nominating and Corporate Governance Committee |
Laurence Sellyn | | | | | Lead Independent Director, Chair of the Audit Committee | |
Jay Stubina | | | | | Director | |
(1) | Mr. |
| | Board of Directors | | | Audit Committee | | | Nominating and Corporate Governance Committee | | | Compensation Committee | | | Total Attendance | |||||||||||||
Director | | | Number | | | % | | | Number | | | % | | | Number | | | % | | | Number | | | % | | | % |
Daniel Solomita | | | 13/13 | | | 100% | | | — | | | — | | | — | | | — | | | — | | | — | | | 100% |
Peter Kezios(1) | | | 10/10 | | | 100% | | | — | | | — | | | — | | | — | | | 1/1 | | | 100% | | | 100% |
Andrew Lapham | | | 13/13 | | | 100% | | | 4/4 | | | 100% | | | — | | | — | | | 2/2 | | | 100% | | | 100% |
Laurence Sellyn | | | 13/13 | | | 100% | | | 4/4 | | | 100% | | | 2/2 | | | 100% | | | — | | | — | | | 100% |
Jay Stubina | | | 13/13 | | | 100% | | | 4/4 | | | 100% | | | 2/2 | | | 100% | | | 2/2 | | | 100% | | | 100% |
Louise Sams(2) | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — |
| | Board of Directors | | | Audit Committee | | | Nominating and Corporate Governance Committee | | | Compensation Committee | | | Total Attendance | |||||||||||||
Director | | | Number | | | % | | | Number | | | % | | | Number | | | % | | | Number | | | % | | | % |
Daniel Solomita | | | 8/8 | | | 100% | | | — | | | — | | | — | | | — | | | — | | | — | | | 100% |
Andrew Lapham(1) | | | 8/8 | | | 100% | | | 1/1 | | | 100% | | | 5/5 | | | 100% | | | 3/3 | | | 100% | | | 100% |
Jonghyuk Lee(2) | | | 4/4 | | | 100% | | | — | | | — | | | — | | | — | | | — | | | — | | | 100% |
Louise Sams(3) | | | 8/8 | | | 100% | | | 3/3 | | | 100% | | | 4/4 | | | 100% | | | 3/3 | | | 100% | | | 100% |
Laurence Sellyn | | | 8/8 | | | 100% | | | 4/4 | | | 100% | | | 5/5 | | | 100% | | | — | | | — | | | 100% |
Jay Stubina(4) | | | 8/8 | | | 100% | | | 4/4 | | | 100% | | | 1/1 | | | 100% | | | 3/3 | | | 100% | | | 100% |
(1) | Mr. |
(2) |
(3) | Ms. Louise Sams was appointed Chair of the |
(4) | Mr. Jay Stubina was a member of the Nominating and Corporate Governance Committee until June 28, 2021. |
Name and Principal Position | | Fees earned or paid in cash ($) | | Stock Awards(1) ($) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($) | | Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation ($) | | Total ($) | | Fees earned or paid in cash ($) | | Stock Awards(1) ($) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($) | | Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation ($) | | Total ($) | ||||||||||||||
Peter Kezios | | — | | 90,000 | | — | | — | | — | | — | | 90,000 | ||||||||||||||||||||||||||||
Andrew Lapham | | 15,000 | | 90,000 | | — | | — | | — | | — | | 105,000 | | 15,000 | | 108,263 | | — | | — | | — | | — | | 123,263 | ||||||||||||||
Jonghyuk Lee(2) | | — | | — | | — | | — | | — | | — | | — | ||||||||||||||||||||||||||||
Louise Sams(3) | | 11,250 | | 127,926 | | — | | — | | — | | — | | 139,176 | ||||||||||||||||||||||||||||
Laurence Sellyn | | 60,000 | | 90,000 | | — | | — | | — | | — | | 150,000 | | 48,750 | | 108,263 | | — | | — | | — | | — | | 157,013 | ||||||||||||||
Jay Stubina | | — | | 90,000 | | — | | — | | — | | — | | 90,000 | | — | | 108,263 | | — | | — | | — | | — | | 108,263 | ||||||||||||||
Louise Sams(2) | | — | | — | | — | | — | | — | | — | | — |
(1) | The amounts reported in this column represent the aggregate grant date fair value of the restricted stock units, or RSUs, granted, as computed in accordance with Financial Accounting Standards Board, or FASB, Accounting Standards Codification Topic 718, Compensation—Stock Compensation, or ASC Topic 718. |
(2) | Mr. Jonghyuk Lee is not eligible for non-employee director compensation pursuant to the Investor Rights Agreement entered into by SKGC, Daniel Solomita and the Company in relation to SKGC’s strategic investment in the Company in July 2021. |
(3) | Ms. Louise Sams was elected to the Board of Directors on April 7, 2021. |
Name | | | # of Outstanding Options (in shares) | | | # of Outstanding RSUs (in shares) |
Andrew Lapham | | | — | | | |
Jonghyuk Lee | | | — | | | — |
Louise Sams | | | — | | | 8,296 |
Laurence Sellyn | | | — | | | |
Jay Stubina | | | — | | | |
| Board Diversity Matrix (As of February 28, 2022) | | ||||||||||||
| Total Number of Directors | | | 6 | | |||||||||
| | | Female | | | Male | | | Non- Binary | | | Did Not Disclose Gender | | |
| Part I: Gender Identity | | | | | | | | | | ||||
| Directors | | | 1 | | | 5 | | | 0 | | | 0 | |
| Part II: Demographic Background | | | | | | | | | | ||||
| Asian | | | 0 | | | 1 | | | 0 | | | 0 | |
| White | | | 1 | | | 4 | | | 0 | | | 0 | |
| LGBTQ+ | | | 0 | | |||||||||
| Did Not Disclose Demographic Background | | | 0 | |
Name | | | Age | | | Title |
Daniel Solomita | | | | | Chairman of the Board, President, and Chief Executive Officer | |
| | | | |||
| | |||||
| | Chief Technology Officer | ||||
Yves Perron | | | | | Vice-President, Engineering and Construction |
(i) | goals related to engineering and commercial facilities, |
(ii) | goals related to financing, |
(iii) | goals related to customers and feedstock suppliers |
(iv) | development and operational goals related to the Company’s facility in Terrebonne, Quebec, and |
(v) | goals related to research and development. |
| | The Compensation Committee | |
| | Andrew Lapham (Chair) | |
| | Louise Sams | |
| | Jay Stubina |
Name and Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards(1) ($) | | Option Awards(1) ($) | | Non-Equity Incentive Plan Compensation ($) | | All Other Compensation ($) | | Total ($) | | Year | | Salary ($) | | Bonus ($) | | Stock Awards(1) ($) | | Option Awards(1) ($) | | Non-Equity Incentive Plan Compensation ($) | | All Other Compensation ($) | | Total ($) | ||||||||||||||||
Daniel Solomita(2) Chief Executive Officer | | | 2021 | | 449,418 | | — | | — | | — | | 168,277 | | 12,000 | | 629,695 | |||||||||||||||||||||||||||||||
| 2020 | | 451,814 | | — | | 3,200,000 | | — | | 124,249 | | 12,000 | | 3,788,063 | |||||||||||||||||||||||||||||||||
| 2019 | | 457,692 | | — | | — | | — | | 343,269 | | 12,000 | | 812,961 | |||||||||||||||||||||||||||||||||
Nelson Gentiletti(3) Chief Operating and Chief Financial Officer | | | 2021 | | 401,464 | | — | | 278,874 | | — | | 150,550 | | — | | 830,888 | |||||||||||||||||||||||||||||||
| 2020 | | 403,604 | | — | | 217,904 | | — | | 110,991 | | — | | 732,499 | |||||||||||||||||||||||||||||||||
| 2019 | | 66,089 | | — | | 2,056,727 | | — | | 19,827 | | — | | 2,142,642 | |||||||||||||||||||||||||||||||||
Michel Megelas(4) Chief Legal Officer | | | 2021 | | 142,576 | | 14,258 | | — | | — | | — | | — | | 156,834 | |||||||||||||||||||||||||||||||
| 2020 | | 98,299 | | — | | 40,000 | | — | | 15,088 | | — | | 153,387 | |||||||||||||||||||||||||||||||||
| 2019 | | — | | — | | — | | — | | — | | — | | — | |||||||||||||||||||||||||||||||||
Stephen Champagne(5) Chief Technology Officer | | | 2021 | | 183,992 | | 23,450 | | 450,000 | | — | | — | | — | | 657,442 | |||||||||||||||||||||||||||||||
| 2020 | | — | | — | | — | | — | | — | | — | | — | |||||||||||||||||||||||||||||||||
| 2019 | | — | | — | | — | | — | | — | | — | | — | |||||||||||||||||||||||||||||||||
Yves Perron(6) Vice-President, Engineering and Construction | | | 2021 | | 29,496 | | 5,763 | | 250,000 | | — | | — | | — | | 285,259 | |||||||||||||||||||||||||||||||
| 2020 | | — | | — | | — | | — | | — | | — | | — | |||||||||||||||||||||||||||||||||
| 2019 | | — | | — | | — | | — | | — | | — | | — | |||||||||||||||||||||||||||||||||
Daniel Solomita Chief Executive Officer | | | 2022 | | 478,166 | | — | | — | | — | | 286,466 | | 12,000 | | 776,632 | |||||||||||||||||||||||||||||||
| 2021 | | 449,418 | | — | | — | | — | | 168,277 | | 12,000 | | 629,695 | |||||||||||||||||||||||||||||||||
| 2020 | | 451,814 | | — | | 3,200,000 | | — | | 124,249 | | 12,000 | | 3,788,063 | |||||||||||||||||||||||||||||||||
Drew Hickey(2) Chief Operating and Chief Financial Officer | | | 2022 | | 299,400 | | — | | 1,388,495 | | — | | 89,820 | | 28,702 | | 1,806,417 | |||||||||||||||||||||||||||||||
| 2021 | | — | | — | | — | | — | | — | | — | | — | |||||||||||||||||||||||||||||||||
| 2020 | | — | | — | | — | | — | | — | | — | | — | |||||||||||||||||||||||||||||||||
Stephen Champagne(3) Chief Technology Officer | | | 2022 | | 199,600 | | 39,920 | | — | | — | | — | | — | | 239,520 | |||||||||||||||||||||||||||||||
| 2021 | | 183,992 | | 23,450 | | 450,000 | | — | | — | | — | | 657,442 | |||||||||||||||||||||||||||||||||
| 2020 | | — | | — | | — | | — | | — | | — | | — | |||||||||||||||||||||||||||||||||
Yves Perron(4) Vice-President, Engineering and Construction | | | 2022 | | 233,133 | | 37,301 | | — | | — | | — | | — | | 270,434 | |||||||||||||||||||||||||||||||
| 2021 | | 29,496 | | 5,763 | | 250,000 | | — | | — | | — | | 285,259 | |||||||||||||||||||||||||||||||||
| 2020 | | — | | — | | — | | — | | — | | — | | — |
(1) | The amounts reported in this column do not reflect the compensation actually received by the Named Executive Officer. For valuation purposes, the dollar amount shown represents the aggregate award date fair value of awards made in fiscal years ended February |
(2) |
Began |
Began serving as Chief Technical Officer on June 9, 2020 |
Began serving as Vice-President, Engineering and Construction on January 11, 2021 |
| | Grant Date | | | Date of Board Action to Grant the Award | | | Estimated Future Payouts Under Non- Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units (#) | | | All Other Option Awards: Number of Securities Underlying Options (#) | | | Exercise or Base Price of Option Awards ($/sh) | | | Grant Date Fair Value of Stock Awards ($) | |||||||
| | Threshold ($) | | | Target ($) | | | Maximum ($) | | ||||||||||||||||||
Daniel Solomita | | | | | | | | | | | | | | | | | | | |||||||||
Short-term incentive | | | July 8, 2019 | | | July 8, 2019 | | | 112,355 | | | 224,709 | | | 449,418 | | | — | | | — | | | — | | | — |
Nelson Gentiletti | | | | | | | | | | | | | | | | | | | |||||||||
Short-term incentive | | | July 8, 2019 | | | July 8, 2019 | | | 100,366 | | | 200,732 | | | 401,464 | | | — | | | — | | | — | | | — |
Time-based RSUs | | | March 1, 2019 | | | March 4, 2019 | | | — | | | — | | | — | | | 31,762 | | | — | | | — | | | 278,874 |
Michel Megelas | | | | | | | | | | | | | | | | | | | |||||||||
Short-term incentive | | | June 28, 2019 | | | June 28, 2019 | | | — | | | — | | | — | | | — | | | | | | | |||
Stephen Champagne | | | | | | | | | | | | | | | | | | | |||||||||
New hire RSUs | | | June 9, 2020 | | | June 9, 2020 | | | — | | | — | | | — | | | 51,963 | | | — | | | — | | | 450,000 |
Yves Perron | | | | | | | | | | | | | | | | | | | |||||||||
New hire RSUs | | | January 14, 2021 | | | January 14, 2021 | | | — | | | — | | | — | | | 28,801 | | | — | | | — | | | 250,000 |
| | Grant Date | | | Estimated Future Payouts Under Non- Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units (#) | | | All Other Option Awards: Number of Securities Underlying Options (#) | | | Exercise or Base Price of Option Awards ($/sh) | | | Grant Date Fair Value of Stock Awards ($) | |||||||
| | Threshold ($) | | | Target ($) | | | Maximum ($) | | |||||||||||||||
Daniel Solomita | | | | | | | | | | | | | | | | | ||||||||
Short-term incentive | | | October 12, 2021 | | | 119,541 | | | 239,083 | | | 478,166 | | | — | | | — | | | — | | | — |
Drew Hickey | | | | | | | | | | | | | | | | | ||||||||
Short-term incentive | | | October 12, 2021 | | | 89,820 | | | 149,700 | | | 299,400 | | | — | | | — | | | — | | | — |
Time-based RSUs | | | March 1, 2021 | | | — | | | — | | | — | | | 148,185 | | | — | | | — | | | 1,388,495 |
| | Option Awards | | | Stock Awards | ||||||||||||||||||||||
| | Number of Securities Underlying Unexercised Options Exercisable (#) | | | Number of Securities Underlying Unexercised Options Un- Exercisable (#) | | | Equity incentive plan awards: Number of Securities Underlying Unexercised Unearned Options (#) | | | Option Exercise Price ($) | | | Option Expiration date | | | Number of shares or units of stock that have not vested (#) | | | Market Value of shares or units of stock that have not vested ($) | | | Equity incentive plan awards: Number of Unearned shares, Units or Other Rights that have not vested (#) | | | Equity incentive plan awards: Market or payout value of unearned shares, Units or Other Rights that have not vested ($) | |
Daniel Solomita | | | — | | | — | | | — | | | — | | | — | | | 3,000,000 | | | $25,830,000 | | | — | | | — |
Nelson Gentiletti(1) | | | — | | | — | | | — | | | — | | | — | | | 311,109 | | | 2,678,648 | | | — | | | — |
Michel Megelas(2) | | | — | | | — | | | — | | | — | | | — | | | 4,044 | | | 34,819 | | | — | | | — |
Stephen Champagne | | | — | | | — | | | — | | | — | | | — | | | 51,963 | | | 447,401 | | | — | | | — |
Yves Perron | | | — | | | — | | | — | | | — | | | — | | | 28,801 | | | 247,977 | | | — | | | — |
| | Option Awards | | | Stock Awards | ||||||||||||||||||||||
| | Number of Securities Underlying Unexercised Options Exercisable (#) | | | Number of Securities Underlying Unexercised Options Un-Exercisable (#) | | | Equity incentive plan awards: Number of Securities Underlying Unexercised Unearned Options (#) | | | Option Exercise Price ($) | | | Option Expiration date | | | Number of shares or units of stock that have not vested (#) | | | Market Value of shares or units of stock that have not vested ($) | | | Equity incentive plan awards: Number of Unearned shares, Units or Other Rights that have not vested (#) | | | Equity incentive plan awards: Market or payout value of unearned shares, Units or Other Rights that have not vested ($) | |
Daniel Solomita(1) | | | — | | | — | | | — | | | — | | | — | | | 3,000,000 | | | $20,820,000 | | | — | | | — |
Drew Hickey(2) | | | — | | | — | | | — | | | — | | | — | | | 148,185 | | | 1,028,404 | | | — | | | — |
Stephen Champagne(3) | | | — | | | — | | | — | | | — | | | — | | | 51,963 | | | 360,623 | | | — | | | — |
Yves Perron(4) | | | — | | | — | | | — | | | — | | | — | | | 28,801 | | | 199,879 | | | — | | | — |
(1) |
(2) |
(3) | In fiscal 2021, the Board approved an equity award grant to Mr. Champagne of 51,963 new hire RSUs which vest entirely on March 9, 2023 |
(4) | In fiscal 2021, the Board approved an equity award grant to Mr. Perron of 28,801 new hire RSUs which vest on the anniversary of the grant date |
| | Number of Securities to be Issued Upon Exercise of Options (#) | | Weighted Average Exercise Price of Outstanding Options ($) | | Weighted Average Remaining Term of Outstanding Options (years) | | Number of Securities to be Issued Upon Vesting of Restricted Stock Units (#) | | Weighted Average Issuance Price of Restricted Stock Units ($) | | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a)) (#) | | | Number of Securities to be Issued Upon Exercise of Options (#) | | Weighted Average Exercise Price of Outstanding Options ($) | | Weighted Average Remaining Term of Outstanding Options (years) | | Number of Securities to be Issued Upon Vesting of Restricted Stock Units (#) | | Weighted Average Issuance Price of Restricted Stock Units ($) | | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a)) (#) | |||||||||||
Equity compensation plans approved by shareholders | | 700,000 | | $12.00 | | 6.54 | | 4,210,520 | | $1.98 | | 1,083,412 | | 700,000 | | $12.00 | | 5.54 | | 4,018,567 | | $7.42 | | 1,043,705 | ||||||||||||
Equity compensation not approved by shareholders | | 887,081 | | 2.71 | | 5.50 | | — | | — | | — | | 870,000 | | 2.74 | | 4.51 | | — | | — | | — | ||||||||||||
Total equity compensation plans | | 1,587,081 | | $6.81 | | 5.96 | | 4,210,520 | | $1.98 | | 1,083,412 | | 1,570,000 | | $6.87 | | 4.97 | | 4,018,567 | | $7.42 | | 1,043,705 |
| | Option Awards | | | Stock Awards | |||||||
| | Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise ($) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting ($) | |
Daniel Solomita(1) | | | — | | | — | | | 200,000 | | | |
| | — | | | — | | | — | | | — | |
Stephen Champagne | | | — | | | — | | | — | | | — |
Yves Perron | | | — | | | — | | | — | | | — |
(1) | Mr. Solomita received an award of 4,000,000 RSUs which became effective upon shareholder approval of an increase in the number of shares available for grant under the Plan at the Company’s 2019 Annual Meeting. The RSUs vest upon the occurrence of certain milestones and once vested, one-fifth of the RSUs will be settled annually. The first performance milestone has already been reached and consequently, 1,000,000 RSUs have vested effective June 27, 2019, of which the first installment of 200,000 RSUs was settled on October 15, 2019, |
(2) | Based on the stock price of |
Name | | Termination Without Cause or Resignation for Good Reason ($) | | Termination Without Cause or Resignation for Good Reason in Connection with a Change in Control ($) | | Termination Without Cause or Resignation for Good Reason ($) | | Termination Without Cause or Resignation for Good Reason in Connection with a Change in Control ($) | ||||
Daniel Solomita | | | | | ||||||||
Base salary | | 898,837 | | 898,837 | | 956,332 | | 956,332 | ||||
Cash incentive compensation | | 168,277 | | 617,696 | | 286,466 | | 764,632 | ||||
Equity incentive compensation(1)(2) | | 18,081,000 | | 30,996,000 | | 13,186,000 | | 23,596,000 | ||||
Total potential payment | | 19,148,114 | | 32,512,533 | | 14,428,798 | | 25,316,964 | ||||
Nelson Gentiletti | | | ||||||||||
Base salary | | 802,928 | | 802,928 | ||||||||
Cash incentive compensation | | 150,550 | | 150,550 | ||||||||
Equity incentive compensation(2) | | 958,822 | | 2,678,648 | ||||||||
Total potential payment | | 1,912,300 | | 3,632,126 | ||||||||
Michel Megelas | | | ||||||||||
Drew Hickey | | | ||||||||||
Base salary | | 47,525 | | 47,525 | | 449,100 | | 449,100 | ||||
Cash incentive compensation | | 14,258 | | 14,258 | | 89,820 | | 89,820 | ||||
Equity incentive compensation(2) | | 11,632 | | 34,819 | | 205,681 | | 1,028,404 | ||||
Total potential payment | | 73,415 | | 96,602 | | 744,601 | | 1,567,324 | ||||
Stephen Champagne | | | | | ||||||||
Base salary | | 62,533 | | 62,533 | | 66,533 | | 66,533 | ||||
Cash incentive compensation | | 28,140 | | 28,140 | | 39,920 | | 39,920 | ||||
Equity incentive compensation(2) | | 145,457 | | 145,457 | | 237,451 | | 237,451 | ||||
Total potential payment | | 236,130 | | 236,130 | | 343,904 | | 343,904 | ||||
Yves Perron | | | | | ||||||||
Base salary | | 182,597 | | 182,597 | | 194,277 | | 194,277 | ||||
Cash incentive compensation | | 43,823 | | 43,823 | | 37,301 | | 37,301 | ||||
Equity incentive compensation(2) | | 6,111 | | 247,977 | | 44,880 | | 199,879 | ||||
Total potential payment | | 232,531 | | 474,397 | | 276,458 | | 431,457 |
(1) | In June 2018, the Board approved the grant of an award of 4,000,000 RSUs to Mr. Solomita, which became effective upon approval by the Company’s stockholders at the Company’s 2019 Annual Meeting of an increase in the number of shares available for issuance under the |
(2) | The amounts listed represent the value of the vesting acceleration benefits described above in the section above entitled “Potential Payments upon Termination or Change in Control” as of February 28, |
| | Fiscal 2021 | | Fiscal 2020 | | | Fiscal 2022 | | Fiscal 2021 | |||
Audit Fees(1) | | 146,082 | | 167,466 | | $173,037 | | $146,082 | ||||
Audit-Related Fees(2) | | 39,055 | | 67,383 | | 29,191 | | 39,055 | ||||
Tax Fees(3) | | — | | — | | — | | — | ||||
All Other Fees(4) | | 900 | | 1,800 | | 5,875 | | 900 | ||||
Total Fees | | 185,137 | | 236,650 | | $208,103 | | $185,137 |
(1) | Audit Fees. This category represents fees billed for professional services rendered by the principal accountant for the audits of the registrant’s annual financial statements and internal controls over financial reporting, review of the interim financial statements included in the registrant’s quarterly reports on Form 10-Q, and services that are normally provided by the accountant in connection with statutory audits and other SEC filings or engagements. Audit Fees paid to PwC in Fiscal years |
(2) | Audit-Related Fees. This category represents fees billed for assurance and related services by the principal accountant that are reasonably related to the performance of the audit or review of registrant’s financial statements, primarily related to accounting consultations and related to accounting, financial reporting or disclosure matters not classified as “Audit Fees.” Fees paid to PwC in Fiscal years |
(3) | Tax Fees. This category represents fees billed for professional services rendered by the principal accountant for tax compliance in certain international jurisdictions, tax advice and tax planning. Fees paid to PwC in fiscal year |
(4) | All Other Fees. This category represents the aggregate fees billed for any other products and services provided by the principal accountant. |
| | The Audit Committee: | |
| | Laurence Sellyn (Chair) | |
| | ||
| | Jay Stubina |
Name and Address of Beneficial Owner | | | Shares of Common Stock(1) (#) | | | Percent of Common Stock (%) | | | Shares of Series A Preferred Stock (#) | | | Percent of Preferred Stock (%) | | | Combined Voting Shares (#) | | | Combined Voting Power (%) |
Daniel Solomita(2) | | | 19,910,000 | | | 44.80 | | | 1 | | | 100 | | | 78,804,737 | | | 77.09 |
Nelson Gentiletti | | | 27,664 | | | * | | | — | | | — | | | 27,664 | | | * |
Drew Hickey(3) | | | — | | | — | | | — | | | — | | | — | | | — |
Michel Megelas | | | — | | | — | | | — | | | — | | | — | | | — |
Stephen Champagne | | | — | | | — | | | — | | | — | | | — | | | — |
Yves Perron | | | — | | | — | | | — | | | — | | | — | | | — |
Jay Stubina(4) | | | 135,869 | | | * | | | — | | | — | | | 135,869 | | | * |
Laurence Sellyn(5) | | | 68,004 | | | * | | | — | | | — | | | 68,004 | | | * |
Andrew Lapham(6) | | | 8,174,829 | | | 17.56 | | | — | | | — | | | 8,174,829 | | | 7.69 |
Peter Kezios(7) | | | 9,662 | | | * | | | — | | | — | | | 9,662 | | | * |
Louise Sams(8) | | | — | | | — | | | — | | | — | | | — | | | — |
All Directors and Executive Officers as a Group (10 persons) | | | 27,449,538 | | | 62.98 | | | 1 | | | 100 | | | 87,244,275 | | | 85.03 |
Name and Address of Beneficial Owner | | | Shares of Common Stock(1) (#) | | | Percent of Common Stock (%) | | | Shares of Series A Preferred Stock (#) | | | Percent of Preferred Stock (%) | | | Combined Voting Shares (#) | | | Combined Voting Power (%) |
Directors and Executive Officers(2) | | | | | | | | | | | | | ||||||
Daniel Solomita(3) | | | 19,210,000 | | | 37.2 | | | 1 | | | 100 | | | 88,029,888 | | | 73.1 |
Drew Hickey | | | — | | | — | | | — | | | — | | | — | | | — |
Stephen Champagne | | | 5,800 | | | * | | | — | | | — | | | 5,800 | | | * |
Yves Perron | | | — | | | — | | | — | | | — | | | — | | | — |
Andrew Lapham(4) | | | 8,183,125 | | | 15.8 | | | — | | | — | | | 8,183,125 | | | 6.8 |
Jonghyuk Lee | | | — | | | — | | | — | | | — | | | — | | | — |
Louise Sams(5) | | | 10,665 | | | * | | | — | | | — | | | 10,665 | | | * |
Laurence Sellyn(6) | | | 81,300 | | | * | | | — | | | — | | | 81,300 | | | * |
Jay Stubina(7) | | | 144,165 | | | * | | | — | | | — | | | 144,165 | | | * |
All Directors and Executive Officers as a Group (9 persons) | | | 27,635,055 | | | 53.5 | | | 1 | | | 100 | | | 96,454,943 | | | 80.0 |
| | | | | | | | | | | | |||||||
Greater than 5% Stockholders | | | | | | | | | | | | | ||||||
SK geo centric Co., Ltd(8) 26, Jong-ro, Jongno-gu Seoul, Korea 03118 | | | 9,890,924 | | | 18.8 | | | — | | | — | | | 9,890,924 | | | 8.2 |
* | Represents beneficial ownership of less than one |
(1) | These units represent shares of common stock owned by the beneficial owner as well as any equity grant that vests within 60 days of the record date May 4, |
(2) | Unless otherwise noted, the business address of each of the following individuals is 480 Fernand-Poitras Terrebonne, Québec, Canada J6Y 1Y4. |
(3) | Mr. Solomita received an award of 4,000,000 RSUs which became effective upon shareholder approval of an increase in the number of shares available for grant under the 2017 Equity Incentive Plan at the Company’s 2019 Annual Meeting. The RSUs vest upon the occurrence of certain milestones and once vested, one-fifth of the RSUs will be settled annually. The first performance milestone has already been reached and consequently, 1,000,000 RSUs have vested effective June 27, 2019, of which the first installment of 200,000 RSUs was settled on October 15, 2019, |
Comprised of (i) |
(6) | Comprised of 11,695 shares of our common stock and 69,605 restricted stock units granted to Mr. Sellyn in his functions as Director of which the settlement of 61,309 RSUs has been deferred until Mr. Sellyn’s retirement from the Board and 8,296 RSU’s will vest within 60 days of the record date of May 4, 2022. |
(7) | Comprised of (i) 75,000 shares of common stock held by 6337708 Canada Inc., a corporation duly formed and existing under the laws of Canada and controlled by Jay Stubina, (ii) 10,000 shares held directly by Mr. Stubina, (iii) 49,605 restricted stock units granted to Mr. Stubina in his functions as Director, 41,309 of which settlement has been deferred until Mr. Stubina’s retirement from the Board and 8,296 which fully vest within 60 days of the record date of May 4, 2022 and (iv) 9,560 shares of common stock resulting from the settlement of RSUs which vested in May 2018. |
(8) |