| | | Page | | |||
| | | | 1 | | | |
| | | | 2 | | | |
| | | | | | ||
| | | | | | ||
| | | | | | ||
| | | | | | ||
| | | | 12 | | | |
| | | | 12 | | | |
| | | | | | ||
| | | | 13 | | | |
| | | | 13 | | | |
| | | | 13 | | | |
| | | | | | ||
| | | | 14 | | | |
| | | | 15 | | | |
| | | | 16 | | | |
| | | | 16 | | | |
| | | | 16 | | | |
| | | | 17 | | | |
| | | | 17 | | | |
| | | | | | ||
| | | | 18 | | | |
| | | | 19 | | | |
| | | | 19 | | | |
| | | | 19 | | | |
| | | | 19 | | | |
| | | | 20 | | | |
| | | | 20 | | | |
| | | | | | ||
| | | | | | ||
| | | | | | ||
| | | | | | ||
| | | | | | ||
| | | | | | ||
| | | | | | ||
| | | | | | ||
| | | | ||||
| | ||||||
| | | | | | ||
| | | | | | ||
| | | | | |
| | | Page | | |||
| | | | | | ||
| | | | | | ||
| | | | | | ||
| | | | 37 | | | |
| | | | 38 | | | |
| | | | | | ||
| | | | 40 | | | |
| | | | 40 | | | |
| | | | 40 | | | |
| | | | 49 | | | |
| | | | 50 | | | |
| | | | 50 | | | |
| | | | 50 | | | |
| | | | | | ||
| | | | | | ||
| | | | | | ||
| | | | | | ||
| | | | | |
Directors with Terms expiring at the Annual Meeting/Nominees | | | Class | | | Age | | | Position | | | Director Since | | | Current Term Expires | | | Expiration of Term For Which Nominated | |
Lee M. Elman | | | II | | | 82 | | | Independent Director, Conflicts Committee Chair | | | 2016 | | | 2019 | | | 2022 | |
P. Sue Perrotty | | | II | | | 65 | | | Non-Executive Chair, Audit Committee Chair, Nominating and Corporate Governance Committee Chair | | | 2015 | | | 2019 | | | 2022 | |
Continuing Directors | | | | | | | | ||||||||||||
James L. Nelson | | | III | | | 69 | | | Director, Chief Executive Officer and President | | | 2017 | | | 2020 | | | — | |
Edward G. Rendell | | | I | | | 75 | | | Independent Director, Compensation Committee Chair | | | 2012 | | | 2021 | | | — | |
Edward M. Weil, Jr. | | | III | | | 51 | | | Director | | | 2017 | | | 2020 | | | — | |
Abby M. Wenzel | | | I | | | 58 | | | Independent Director | | | 2012 | | | 2021 | | | — | |
Executive Officers (not listed above) | | | | | | | | ||||||||||||
Christopher J. Masterson | | | N/A | | | 36 | | | Chief Financial Officer, Treasurer and Secretary | | | N/A | | | N/A | | | N/A | |
Directors with Terms expiring at the Annual Meeting/Nominees | | | Class | | | Age | | | Position | | | Director Since | | | Current Term Expires | | | Expiration of Term For Which Nominated | |
M. Therese Antone | | | I | | | 81 | | | Independent Director, Audit Committee Chair | | | 2020 | | | 2021 | | | 2024 | |
Edward G. Rendell | | | I | | | 77 | | | Independent Director, Compensation Committee Chair | | | 2012 | | | 2021 | | | 2024 | |
Abby M. Wenzel | | | I | | | 60 | | | Independent Director | | | 2012 | | | 2021 | | | 2024 | |
Continuing Directors | | | | | | | | | | | | | | | | | | | |
Lee M. Elman | | | II | | | 84 | | | Independent Director, Conflicts Committee Chair | | | 2016 | | | 2022 | | | — | |
James L. Nelson | | | III | | | 71 | | | Director, Chief Executive Officer and President | | | 2017 | | | 2023 | | | — | |
P. Sue Perrotty | | | II | | | 67 | | | Non-Executive Chair, Nominating and Corporate Governance Committee Chair | | | 2015 | | | 2022 | | | — | |
Edward M. Weil, Jr. | | | III | | | 53 | | | Director | | | 2017 | | | 2023 | | | — | |
Executive Officers (not listed above) | | | | | | | | | | | | | | | | | | | |
Christopher J. Masterson | | | N/A | | | 38 | | | Chief Financial Officer, Treasurer and Secretary | | | N/A | | | N/A | | | N/A | |
Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($) | | | Stock Awards ($)(1) | | | All Other Compensation ($)(2) | | | Total ($) | | ||||||||||||||||||
James L. Nelson, President and Chief Executive Officer | | | | | 2020 | | | | | | — | | | | | | — | | | | | | 248,963 | | | | | | 5,720 | | | | | | 254,683 | | |
| | | 2019 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 2018 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Christopher J. Masterson, Chief Financial Officer, Treasurer and Secretary | | | | | 2020 | | | | | | — | | | | | | — | | | | | | 211,532 | | | | | | 4,860 | | | | | | 216,392 | | |
| | | 2019 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 2018 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | | | | | | | | | | | All Other Stock Awards: | | | | | | | | |||
Name | | | Grant Date(1) | | | Committee Approval Date | | | Number of Shares of Stock (#) | | | Grant Date Fair Value of Awards ($)(2) | | ||||||||||||
James L. Nelson | | | | | 9/15/20 | | | | | | 9/15/20 | | | | | | 14,300 | | | | | $ | 248,963 | | |
Christopher J. Masterson | | | | | 9/15/20 | | | | | | 9/15/20 | | | | | | 12,150 | | | | | $ | 211,532 | | |
| | | Number of Restricted Shares That Have Not Vested (#) | | | Market Value of Restricted Shares That Have Not Vested ($) | | ||||||
James L. Nelson | | | | | 14,300(1) | | | | | $ | 245,102(2) | | |
Christopher J. Masterson | | | | | 12,150(1) | | | | | | 208,251(2) | | |
Name | | Fees Paid in Cash ($) | | Stock Awards ($)(1) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($) | | Changes in Pension Value and Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation ($)(2) | | Total Compensation ($) | | | Fees Paid in Cash ($) | | Stock Awards ($)(1) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($) | | Changes in Pension Value and Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation ($)(2) | | Total Compensation ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
M. Therese Antone | | | | 58,059 | | | | | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 123,059 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||
Lee M. Elman | | | $ | 131,720 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | $ | 12,524 | | | | $ | 209,244 | | | | | | 106,250 | | | | | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 171,250 | | | ||||||||||||||
James L. Nelson | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | — | | | | | —(4) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||
P. Sue Perrotty | | | $ | 182,000 | | | | $ | 117,500(4) | | | | | — | | | | | — | | | | | — | | | | $ | 36,112 | | | | $ | 335,612 | | | | | | 159,000 | | | | | 117,500(5) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 276,500 | | | ||||||||||||||
Edward G. Rendell | | | $ | 124,250 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | $ | 25,051 | | | | $ | 214,301 | | | | | | 103,000 | | | | | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 168,000 | | | ||||||||||||||
Edward M. Weil, Jr. | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | ||||||||||||||
Abby M. Wenzel | | | $ | 126,250 | | | | $ | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | $ | 25,051 | | | | $ | 214,301 | | | | | | 106,500 | | | | | 65,000(3) | | | | | — | | | | | — | | | | | — | | | | | — | | | | | 171,500 | | |
Plan Category | | | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants, and Rights | | | Weighted-Average Exercise Options, Warrants and | | | Number of Securities Remaining Available For Compensation Plans (Excluding Securities Reflected in Column (a) | | |||||||||
| | | (a) | | | (b) | | | (c) | | |||||||||
Equity Compensation Plans approved by security holders | | | | | — | | | | | | — | | | | | | — | | |
Equity Compensation Plans not approved by security holders | | | | | 2,554,930(1) | | | | | | — | | | | | | | | |
Total | | | | 2,554,930(1) | | | | | | — | | | | | | ||||
|
Beneficial Owner(1) | | | Number of Shares Beneficially Owned | | | Percent of Class | | ||||||
Blackrock, Inc.(2) | | | | | 12,084,313 | | | | | | 14.4% | | |
The Vanguard Group(3) | | | | | 11,237,698 | | | | | | 13.4% | | |
James L. Nelson | | | | | 8,000 | | | | | | * | | |
Christopher J. Masterson | | | | | — | | | | | | — | | |
Edward M. Weil, Jr.(5) | | | | | 22,018 | | | | | | * | | |
Lee M. Elman(6) | | | | | 10,694 | | | | | | * | | |
P. Sue Perrotty(7) | | | | | 35,588 | | | | | | * | | |
Gov. Edward G. Rendell(8) | | | | | 28,152 | | | | | | * | | |
Abby M. Wenzel(9) | | | | | 28,090 | | | | | | * | | |
All directors and executive officers as a group (seven persons) | | | | | 132,542 | | | | | | * | | |
Beneficial Owner(1) | | | Number of Shares Beneficially Owned | | | Percent of Class | | ||||||
BlackRock, Inc.(2) | | | | | 15,409,603 | | | | | | 17.0% | | |
The Vanguard Group(3) | | | | | 13,875,175 | | | | | | 15.3% | | |
State Street Corporation(4) | | | | | 4,563,474 | | | | | | 5.0% | | |
James L. Nelson(5) | | | | | 28,300 | | | | | | * | | |
Christopher J. Masterson(6) | | | | | 12,150 | | | | | | * | | |
Edward M. Weil, Jr.(7) | | | | | 22,018 | | | | | | * | | |
M. Therese Antone(8) | | | | | — | | | | | | | | |
Lee M. Elman(9) | | | | | 11,841 | | | | | | * | | |
P. Sue Perrotty(10) | | | | | 37,661 | | | | | | * | | |
Edward G. Rendell(11) | | | | | 29,299 | | | | | | * | | |
Abby M. Wenzel(12) | | | | | 29,237 | | | | | | * | | |
All directors and executive officers as a group (eight persons) | | | | | 170,506 | | | | | | * | | |
Performance Level (% of Absolute TSR LTIP Units Earned) | | | Absolute TSR | | | Number of Absolute TSR LTIP Units Earned | | |||||||||
Below Threshold | | | | | —% | | | | Less than 24% | | | | | — | | |
Threshold | | | | | 25% | | | | 24% | | | | | 319,366 | | |
Target | | | | | 50% | | | | 30% | | | | | 638,733 | | |
Maximum | | | | | 100% | | | | 36% or higher | | | | | 1,277,465 | | |
Performance Level (% of Absolute TSR LTIP Units Earned) | | | | | | | | | Absolute TSR | | | Number of Absolute TSR LTIP Units Earned | | |||
Below Threshold | | | | | —% | | | | Less than 24% | | | | | — | | |
Threshold | | | | | 25% | | | | 24% | | | | | 319,366 | | |
Target | | | | | 50% | | | | 30% | | | | | 638,733 | | |
Maximum | | | | | 100% | | | | 36% or higher | | | | | 1,277,465 | | |
Performance Level (% of Relative TSR LTIP Units Earned) | Performance Level (% of Relative TSR LTIP Units Earned) | | Relative TSR Excess | | Number of Absolute TSR LTIP Units Earned | | | | | | | | Relative TSR Excess | | Number of Absolute TSR LTIP Units Earned | | ||||||||||||||||
Below Threshold | | | | —% | | | Less than -600 basis points | | | | — | | | | | | —% | | | Less than -600 basis points | | | | — | | | ||||||
Threshold | | | | 25% | | | -600 basis points | | | | 319,366 | | | | | | 25% | | | -600 basis points | | | | 319,366 | | | ||||||
Target | | | | 50% | | | — basis points | | | | 638,733 | | | | | | 50% | | | - basis points | | | | 638,733 | | | ||||||
Maximum | | | | 100% | | | +600 basis points | | | | 1,277,465 | | | | | | 100% | | | +600 basis points | | | | 1,277,465 | | |
Name and Position | | | Dollar value ($)(1) | | | Number of RSUs | | ||||||
James L. Nelson, Chief Executive Officer and President | | | | | — | | | | | | — | | |
Christopher J. Masterson, Chief Financial Officer, Treasurer and Secretary | | | | | — | | | | | | — | | |
All current executive officers as a group | | | | | — | | | | | | — | | |
Current non-executive officer directors | | | | | | | | | | | | | |
Edward M. Weil, Jr. | | | | | — | | | | | | — | | |
M. Therese Antone | | | | | 65,000 | | | | | | | | |
Lee M. Elman | | | | | 65,000 | | | | | | — | | |
P. Sue Perrotty | | | | | 117,500 | | | | | | — | | |
Edward G. Rendell | | | | | 65,000 | | | | | | — | | |
James L. Nelson | | | | | — | | | | | | — | | |
Abby M. Wenzel | | | | | 65,000 | | | | | | — | | |
Current non-executive officer directors as a group | | | | | 377,500 | | | | | | — | | |
Non-executive officer employees as a group | | | | | — | | | | | | — | | |