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EXECUTIVE OFFICERS, DIRECTORS AND CORPORATE GOVERNANCE | | | | | | | |
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SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | | | | | | | |
COMPENSATION DISCUSSION AND ANALYSIS | | | | | | | |
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PAY VERSUS PERFORMANCE | | | | | | | |
CERTAIN RELATIONSHIPS AND RELATED PARTY AND OTHER TRANSACTIONS | | | | | | | |
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PROPOSAL ONE: ELECTION OF DIRECTORS | | | | | | |
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Name | | | Age | | | Position | |
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Jantoon E. Reigersman | | | 42 | | | President and Chief Executive Officer, and a Director | |
| 39 | | | Chief Financial Officer | | ||
| 56 | | | Executive Vice President, General Counsel and Secretary | | ||
Jay J. Ku | | | 41 | | | Chief | |
Non-Employee Directors | | | | | | | |
| | 65 | | ||||
| Director | ||||||
Robert E. Buce | | 75 | | | Director | | |
| 53 | | | Director | | ||
| 44 | | | Director | | ||
| 44 | | | Director | | ||
| | | | | | | |
Diego A. Rodriguez | | | 54 | | | New Director | |
| | Skills | | | | Barbara Carbone | | | | Robert Buce | | | | Brendan Harrington | | | | Faye Iosotaluno | | | | Jantoon Reigersman | | | | Diego Rodriguez | | |
| | Executive Leadership | | | | | | | | | | | | • | | | | • | | | | • | | | | • | | |
| | CFO Experience | | | | | | | • | | | | | | | | | | | | • | | | | | | | |
| | Financial and Audit | | | | • | | | | • | | | | | | | | | | | | | | | | | | |
| | Automotive Industry | | | | | | | • | | | | • | | | | | | | | | | | | | | | |
| | Digital Marketplace | | | | | | | | | | | | | | | | • | | | | | | | | • | | |
| | Product Development and Information Security | | | | | | | | | | | | • | | | | | | | | | | | | • | | |
| | M&A, Corporate Development and Investor Relations | | | | • | | | | | | | | | | | | • | | | | • | | | | | | |
| | Human Capital Management and Compensation | | | | • | | | | | | | | | | | | | | | | | | | | | | |
| | Digital and Brand Marketing | | | | | | | | | | | | • | | | | • | | | | | | | | • | | |
| | Public Company Governance and Risk Management | | | | • | | | | • | | | | | | | | | | | | • | | | | | | |
| | Skills | | | | Value to TrueCar | | |
| | Executive Leadership | | | | Serving in a leadership role of an enterprise-scale organization enhances the Board’s ability to advise our CEO and provide effective oversight of management, corporate strategy and culture. | | |
| | CFO Experience | | | | The experience that comes from serving as a CFO provides insight into our financial performance, reporting requirements, investor relations and transactions into which we may enter. | | |
| | Financial and Audit | | | | We engage in complex financial transactions and are required to adhere to financial reporting requirements and controls. | | |
| | Automotive Industry | | | | Relevant automotive industry experience provides insight into both dealers and consumers, which is important in evaluating the Company’s products and strategy. | | |
| | Digital Marketplace | | | | Experience in managing the supply/demand complexity of digital marketplaces is valuable to maintaining and improving our core product and in developing new products, such as TrueCar+. | | |
| | Product Development and Information Security | | | | We continue to develop and introduce new digital products and product features, including in connection with the rollout of TrueCar+, while managing information security and cybersecurity risk. | | |
| | M&A, Corporate Development and Investor Relations | | | | We engage in complex transactions such as acquisitions, divestitures and investments. Experience in investor relations guides our management when communicating with stockholders. | | |
| | Skills | | | | Value to TrueCar | | |
| | Human Capital Management and Compensation | | | | Helps us attract, integrate and retain talent and develop the capabilities of our employees. | | |
| | Digital and Brand Marketing | | | | Effective marketing helps us attract and convert customers and establish a trusted name in our competitive industry. | | |
| | Public Company Governance and Risk Management | | | | Provides our management team with relevant advice and leadership. Our Board plays an important role in risk oversight. | | |
| | Board Diversity Matrix (as of April 8, 2024) | | | ||||||||||||||||
| | Total Number of Directors | | | | 6 | | | ||||||||||||
| | | | | | Female | | | | Male | | | | Non-Binary | | | | Gender Undisclosed | | |
| | Part I: Gender Identity | | | ||||||||||||||||
| | Directors | | | | 3 | | | | 3 | | | | 0 | | | | 0 | | |
| | Part II: Demographic Background | | | ||||||||||||||||
| | African American or Black | | | | 0 | | | | 0 | | | | 0 | | | | 0 | | |
| | Alaskan Native or American Indian | | | | 0 | | | | 0 | | | | 0 | | | | 0 | | |
| | Asian | | | | 1 | | | | 0 | | | | 0 | | | | 0 | | |
| | Hispanic or Latinx | | | | 0 | | | | 0 | | | | 0 | | | | 0 | | |
| | Native Hawaiian or Pacific Islander | | | | 0 | | | | 0 | | | | 0 | | | | 0 | | |
| | White | | | | 2 | | | | 3 | | | | 0 | | | | 0 | | |
| | Two or More Races or Ethnicities | | | | 0 | | | | 0 | | | | 0 | | | | 0 | | |
| | LGBTQ+ | | | | 0 | | | ||||||||||||
| | Demographic Background Undisclosed | | | | 0 | | |
| | | | Audit Committee | | | Compensation & Workforce Committee | | | Nominating and Corporate Governance Committee | | ||||||
| Barbara Carbone | | | | | | | ✓ | | | | | | ||||
| Robert Buce | | | | | ✓ | | | | | | | | | | ✓ | |
| Brendan Harrington | | | | | | | | | | | | | | | ✓ | |
| Faye Iosotaluno | | | | | ✓ | | | | | | | | ||||
| Erin Lantz | | | | | ✓ | | | | | | ✓ | | | | | |
| Jantoon Reigersman(1) | | | | | | | | | | | | | | | | |
| Name | | | Fees Earned or Paid in Cash ($)(1) | | | Stock Awards ($)(2) | | | Total ($) | | ||||||
| Barbara A. Carbone | | | | | 92,604 | | | | | | 149,999 | | | | 242,603 | |
| Robert E. Buce | | | | | 67,708 | | | | | | 149,999 | | | | 217,707 | |
| Christopher W. Claus(3) | | | | | 45,389 | | | | | | — | | | | 45,389 | |
| Brendan L. Harrington | | | | | 60,000 | | | | | | 149,999 | | | | 209,999 | |
| Faye M. Iosotaluno | | | | | 76,563 | | | | | | 149,999 | | | | 226,562 | |
| Erin N. Lantz | | | | | 76,458 | | | | | | 149,999 | | | | 226,457 | |
| John W. Mendel(4) | | | | | 34,639 | | | | | | — | | | | 34,639 | |
Name | Fees Earned ($) | Option Awards ($)(1) | Total ($) | ||||||
Abhishek Agrawal (2) | 37,500 | 124,590 | 162,090 | ||||||
Todd Bradley (2) | 40,000 | 124,590 | 164,590 | ||||||
Robert Buce (2) | 47,000 | 124,590 | 171,590 | ||||||
Christopher Claus (2) | 50,000 | 124,590 | 174,590 | ||||||
Steven Dietz (2) | 47,500 | 124,590 | 172,090 | ||||||
Thomas Gibson (2) | 43,500 | 124,590 | 168,090 | ||||||
John Krafcik (2)(3) | 8,723 | — | 8,723 | ||||||
Ion Yadigaroglu (2) | 30,000 | 124,590 | 154,590 |
| Name | | | Outstanding Stock Awards at December 31, 2023(1) | | | Outstanding Options at December 31, 2023(2) | | ||||||
| Barbara A. Carbone | | | | | 69,767 | | | | | | — | | |
| Robert E. Buce | | | | | 69,767 | | | | | | 83,812 | | |
| Christopher W. Claus(3) | | | | | — | | | | | | — | | |
| Brendan L. Harrington | | | | | 203,995 | | | | | | — | | |
| Faye M. Iosotaluno | | | | | 93,463 | | | | | | — | | |
| Erin N. Lantz | | | | | 69,767 | | | | | | 62,885 | | |
| John W. Mendel(4) | | | | | — | | | | | | — | | |
Board Committee | Chairperson Fee | Member Fee | ||||||
Audit Committee | $ | 17,000 | $ | 7,500 | ||||
Compensation Committee | $ | 10,000 | $ | 5,000 | ||||
Nominating and Corporate Governance Committee | $ | 6,000 | $ | 2,500 |
| Board Committee | | | Chair Fee ($) | | | Member Fee ($) | | ||||||
| Audit Committee | | | | | 20,000 | | | | | | 10,000 | | |
| Compensation and Workforce Committee | | | | | 15,000 | | | | | | 7,500 | | |
| Nominating and Corporate Governance Committee | | | | | 10,000 | | | | | | 5,000 | | |
Board Committee | Chairperson Fee | Member Fee | ||||||
Audit Committee | $ | 20,000 | $ | 10,000 | ||||
Compensation Committee | $ | 15,000 | $ | 7,500 |
Name of Beneficial Owner | Number of Shares Beneficially Owned | Percent of Shares Outstanding | ||||
5% Stockholders: | ||||||
Entities affiliated with United Services Automobile Association (1) | 13,364,669 | 15.9 | ||||
Entities affiliated with Upfront Ventures (2) | 9,585,332 | 11.5 | ||||
Pacific Sequoia Holdings LLC (3) | 8,304,457 | 9.9 | ||||
Scott Painter (4) | 8,721,672 | 9.7 | ||||
UBS Group AG (5) | 6,593,147 | 7.9 | ||||
Morgan Stanley (6) | 6,246,206 | 7.5 | ||||
Entities affiliated with Anthem Ventures (7) | 5,332,001 | 6.4 | ||||
Vulcan Capital Growth Equity LLC (8) | 4,860,775 | 5.8 | ||||
PAR Capital (9) | 4,200,041 | 5.0 | ||||
Named Executive Officers and Directors: | ||||||
Chip Perry (10) | 167,916 | * | ||||
Michael Guthrie (11) | 1,152,833 | 1.4 | ||||
John Stephenson (12) | 497,716 | * | ||||
Scott Painter (4) | 8,721,672 | 9.7 | ||||
Abhishek Agrawal (13) | 34,133 | * | ||||
Todd Bradley (14) | 58,330 | * | ||||
Robert Buce (15) | 483,230 | * | ||||
Christopher Claus (16) | 106,379 | * | ||||
Steven Dietz (17) | 9,662,950 | 11.6 | ||||
Thomas Gibson (18) | 72,946 | * | ||||
John Krafcik (19) | 462,543 | * | ||||
Ion Yadigaroglu (20) | 2,213,956 | 2.7 | ||||
All current executive officers and directors as a group (11 persons) (21) | 14,912,932 | 17.3 |
| Name of Beneficial Owner | | | Number of Shares Beneficially Owned | | | Percent of Shares Outstanding | | ||||||
| 5% Stockholders: | | | | | | | | | | | | | |
| Caledonia (Private) Investments Pty Limited(1) | | | | | 18,365,289 | | | | | | 20.1% | | |
| Cannell Capital LLC(2) | | | | | 8,150,632 | | | | | | 8.9% | | |
| United Services Automobile Association(3) | | | | | 7,962,245 | | | | | | 8.7% | | |
| BlackRock, Inc.(4) | | | | | 7,488,229 | | | | | | 8.2% | | |
| AutoNation, Inc.(5) | | | | | 5,370,000 | | | | | | 5.9% | | |
| Named Executive Officers and Directors and Director Nominees: | | | | | | | | | | | | | |
| Jantoon E. Reigersman(6) | | | | | 607,193 | | | | | | * | | |
| Oliver M. Foley(7) | | | | | 9,375 | | | | | | * | | |
| Jeffrey J. Swart(8) | | | | | 1,194,546 | | | | | | 1.3% | | |
| Jay J. Ku(9) | | | | | 14,050 | | | | | | * | | |
| Barbara A. Carbone(10) | | | | | 137,937 | | | | | | * | | |
| Robert E. Buce(11) | | | | | 512,428 | | | | | | * | | |
| Faye M. Iosotaluno(12) | | | | | 92,848 | | | | | | * | | |
| Erin N. Lantz(13) | | | | | 249,471 | | | | | | * | | |
| Brendan L. Harrington(14) | | | | | 77,513 | | | | | | * | | |
| Diego A. Rodriguez(15) | | | | | — | | | | | | * | | |
| All current executive officers and directors and director nominees as a group (10 persons)(16) | | | | | 2,895,361 | | | | | | 3.3% | | |
| | WHAT WE DO | | | |||
| | | | Pay-for-performance (approximately 98% of CEO target pay is tied to performance through equity and cash incentives, including base salary, bonus and equity grants) | | | |
| | | | Include multi-year performance-vesting equity awards | | | |
| | | | Maintain robust stock ownership guidelines and a clawback policy for performance-based compensation | | | |
| | | | Retain an independent compensation consultant who reports directly to the compensation committee | | | |
| | | | Solicit advisory votes on our executive compensation program annually and engage in stockholder outreach | | |
| | WHAT WE DON’T DO | | | |||
| | | | No automatic “single trigger” cash or vesting acceleration upon a change in control | | | |
| | | | No option repricings or exchanges without stockholder approval | | | |
| | | | No hedging or pledging by executive officers or directors | | | |
| | | | No tax gross ups on severance or change in control benefits | | | |
| | | | No excessive executive perquisites | | |
| 1stdibs.com | | | Mitek System | |
| Cardlytics | | | ON24 | |
| Cars.com | | | OneSpan | |
| ChannelAdvisor | | | PFSweb | |
| DHI Group | | | PROS Holdings | |
| eGain | | | Quotient Technology | |
| Eventbrite | | | Synchronoss Technologies | |
| EverQuote | | | TechTarget | |
| Liquidity Services | | | Zuora | |
| Executive | | | 2022 Base Salary | | | 2023 Base Salary | | | % Change | | ||||||
| Jantoon E. Reigersman(1) | | | | $ | 450,000 | | | | | $ | 500,000 | | | | 11% | |
| Michael D. Darrow(2) | | | | $ | 590,000 | | | | | $ | 590,000 | | | | —% | |
| Oliver M. Foley(3) | | | | $ | — | | | | | $ | 400,000 | | | | n/a% | |
| Teresa T. Luong(4) | | | | $ | 300,000 | | | | | $ | 400,000 | | | | 33% | |
| Jeffrey J. Swart | | | | $ | 400,000 | | | | | $ | 400,000 | | | | —% | |
| Jay J. Ku(5) | | | | $ | — | | | | | $ | 400,000 | | | | n/a% | |
| Executive | | | 2022 Target Incentive as % of Base Salary | | | 2023 Target Incentive as % of Base Salary | | | % Change | | ||||||
| Jantoon E. Reigersman(1) | | | | | 50% | | | | | | 100% | | | | 50% | |
| Michael D. Darrow(2) | | | | | 100% | | | | | | 100% | | | | 0% | |
| Oliver M. Foley(3) | | | | | N/A% | | | | | | 50% | | | | N/A% | |
| Teresa T. Luong(4) | | | | | 40% | | | | | | 50% | | | | 10% | |
| Jeffrey J. Swart | | | | | 50% | | | | | | 50% | | | | 0% | |
| Jay J. Ku(5) | | | | | N/A% | | | | | | 50% | | | | N/A% | |
| Strategic Goal | | | Weight | | | Criteria | | | Payout | |
| TrueCar+ Elite Package | | | 10% | | | Onboard 12 VIP independent dealers to TrueCar+ Elite Package by the end of 2023.(1) | | | 8.3% | |
| TrueCar+ Transactions | | | 10% | | | 4,000 TrueCar+ transactions completed in 2023. | | | 0 | |
| Dealer Coverage | | | 10% | | | 9,796 active dealer rooftops at the end of 2023 | | | 0 | |
| Wholesale Transactions | | | 10% | | | 1,000 transactions completed in December 2023. | | | 0 | |
| Diversity Assessment | | | 10% | | | Improvement in annual internal diversity assessment.(2) | | | 15% | |
| | | | | | H1 2023 Revenue** ($ millions) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | H1 2023 Adjusted EBITDA* ($ millions) | | | | | | | | | | | | $ | 59.0 | | | | | | $ | 64.0 | | | | | | $ | 69.0 | | | | | | $ | 74.0 | | | | | | $ | 79.0 | | | | | | $ | 84.0 | | | | | | $ | 89.0 | | | | | | $ | 94.0 | | | |
| | $ | (36.6) | | | | | | | 0% | | | | | | | 0% | | | | | | | 25% | | | | | | | 45% | | | | | | | 55% | | | | | | | 70% | | | | | | | 80% | | | | | | | 90% | | | | |||||
| | $ | (31.6) | | | | | | | 0% | | | | | | | 25% | | | | | | | 40% | | | | | | | 60% | | | | | | | 70% | | | | | | | 85% | | | | | | | 95% | | | | | | | 105% | | | | |||||
| | $ | (26.6) | | | | | | | 25% | | | | | | | 40% | | | | | | | 55% | | | | | | | 80% | | | | | | | 85% | | | | | | | 100% | | | | | | | 110% | | | | | | | 120% | | | | |||||
| | $ | (21.6) | | | | | | | 40% | | | | | | | 55% | | | | | | | 70% | | | | | | | 90% | | | | | | | 100% | | | | | | | 115% | | | | | | | 125% | | | | | | | 135% | | | | |||||
| | $ | (16.6) | | | | | | | 55% | | | | | | | 70% | | | | | | | 85% | | | | | | | 100% | | | | | | | 115% | | | | | | | 130% | | | | | | | 140% | | | | | | | 150% | | | |
| | | | | | H2 2023 Revenue** ($ millions) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | $ | 79.5 | | | | | | $ | 80.0 | | | | | | $ | 80.1 | | | | | | $ | 82.0 | | | | | | $ | 83.0 | | | | | | $ | 84.0 | | | | | | $ | 85.0 | | | | | | $ | 86.0 | | | |
| | H2 2023 Adjusted EBITDA* ($ millions) | | | | | $ | (3.5) | | | | | | | 0% | | | | | | | 0% | | | | | | | 25% | | | | | | | 40% | | | | | | | 50% | | | | | | | 70% | | | | | | | 80% | | | | | | | 90% | | | |
| | $ | (2.5) | | | | | | | 0% | | | | | | | 25% | | | | | | | 40% | | | | | | | 60% | | | | | | | 85% | | | | | | | 90% | | | | | | | 95% | | | | | | | 105% | | | | |||||
| | $ | (1.5) | | | | | | | 25% | | | | | | | 40% | | | | | | | 55% | | | | | | | 80% | | | | | | | 100% | | | | | | | 115% | | | | | | | 125% | | | | | | | 135% | | | | |||||
| | $ | (0.5) | | | | | | | 40% | | | | | | | 55% | | | | | | | 70% | | | | | | | 90% | | | | | | | 110% | | | | | | | 120% | | | | | | | 130% | | | | | | | 140% | | | | |||||
| | $ | 0.5 | | | | | | | 55% | | | | | | | 70% | | | | | | | 85% | | | | | | | 100% | | | | | | | 120% | | | | | | | 130% | | | | | | | 140% | | | | | | | 150% | | | |
| Executive | | | 2023 Cash Bonus | | |||
| Jantoon E. Reigersman | | | | $ | 386,000 | | |
| Michael D. Darrow(1) | | | | $ | 590,000 | | |
| Oliver M. Foley(2) | | | | $ | 26,650 | | |
| Teresa T. Luong(3) | | | | $ | — | | |
| Jeffrey J. Swart | | | | $ | 154,400 | | |
| Jay Ku(4) | | | | $ | 136,210 | | |
| Executive | | | RSUs Granted | | | PSUs Granted | |
| Jantoon E. Reigersman | | | 202,105 | | | 303,158 | |
| Michael D. Darrow | | | 205,263 | | | 478,947 | |
| Oliver M. Foley(1) | | | — | | | — | |
| Teresa T. Luong(2) | | | — | | | 122,150 | |
| Jeffrey J. Swart | | | 84,211 | | | 126,316 | |
| Jay J. Ku(3) | | | — | | | 122,150 | |
| Executive | | | RSUs Granted | | | Target Number of PSUs Granted | |
| Jantoon E. Reigersman(1) | | | 663,716 | | | — | |
| Oliver M. Foley(2) | | | 150,000 | | | 224,493 | |
| Teresa T. Luong(3) | | | 105,263 | | | — | |
| Jay J. Ku(4) | | | 105,263 | | | — | |
| Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($) | | | Stock Awards ($)(1) | | | Option Awards ($)(1) | | | Non-Equity Incentive Plan Compensation | | | All Other Compensation ($) | | | Total ($) | | ||||||||||||||||||||||||
| Jantoon E. Reigersman President and CEO | | | | | 2023 | | | | | | 471,402 | | | | | | — | | | | | | 2,887,564 | | | | | | — | | | | | | 386,000 | | | | | | 81,052(2) | | | | | | 3,826,018 | | |
| | | 2022 | | | | | | 443,750 | | | | | | — | | | | | | 2,556,270 | | | | | | — | | | | | | 165,308 | | | | | | 10,599 | | | | | | 3,175,927 | | | |||
| | | 2021 | | | | | | 394,896 | | | | | | 50,000(3) | | | | | | 2,525,135 | | | | | | 770,500 | | | | | | — | | | | | | 9,980 | | | | | | 3,750,511 | | | |||
| Michael D. Darrow Former President and CEO | | | | | 2023 | | | | | | 270,417 | | | | | | — | | | | | | 3,306,341(4) | | | | | | — | | | | | | — | | | | | | 1,234,376(5) | | | | | | 4,811,134 | | |
| | | 2022 | | | | | | 590,000 | | | | | | — | | | | | | 3,467,996 | | | | | | — | | | | | | 433,473 | | | | | | 17,343 | | | | | | 4,508,812 | | | |||
| | | 2021 | | | | | | 590,000 | | | | | | — | | | | | | 2,399,467 | | | | | | 609,025 | | | | | | — | | | | | | 10,239 | | | | | | 3,608,731 | | | |||
| Oliver M. Foley CFO | | | | | 2023 | | | | | | 69,444 | | | | | | 75,000(6) | | | | | | 733,966 | | | | | | — | | | | | | 26,650 | | | | | | 1,212(7) | | | | | | 906,272 | | |
| Teresa T. Luong Former CFO | | | | | 2023 | | | | | | 289,167 | | | | | | — | | | | | | 793,300(8) | | | | | | — | | | | | | — | | | | | | 474,876(9) | | | | | | 1,557,343 | | |
| | | 2022 | | | | | | 293,750 | | | | | | — | | | | | | 266,275 | | | | | | — | | | | | | 88,164 | | | | | | 9,870 | | | | | | 658,059 | | | |||
| | | 2021 | | | | | | 259,886 | | | | | | 35,000(10) | | | | | | 224,500 | | | | | | — | | | | | | 61,875 | | | | | | 8,821 | | | | | | 590,082 | | | |||
| Jeffrey J. Swart EVP, General Counsel and Secretary | | | | | 2023 | | | | | | 400,000 | | | | | | — | | | | | | 553,265 | | | | | | — | | | | | | 154,400 | | | | | | 13,172(11) | | | | | | 1,120,837 | | |
| | | 2022 | | | | | | 400,000 | | | | | | — | | | | | | 905,340 | | | | | | — | | | | | | 146,940 | | | | | | 14,305 | | | | | | 1,466,585 | | | |||
| | | 2021 | | | | | | 400,000 | | | | | | — | | | | | | 559,873 | | | | | | 142,106 | | | | | | — | | | | | | 10,589 | | | | | | 1,112,568 | | | |||
| Jay J. Ku Chief Revenue Officer | | | | | 2023 | | | | | | 354,546 | | | | | | — | | | | | | 612,169 | | | | | | — | | | | | | 136,210 | | | | | | 8,360(12) | | | | | | 1,111,285 | | |
| | | | Maximum Achievement Payout | | |||||||||||||||
| | | | 2023 PSU Grant | | | 2022 PSU Grant | | | 2021 PSU Grant | | |||||||||
| Jantoon E. Reigersman | | | | $ | 1,506,694 | | | | | $ | 2,703,875 | | | | | $ | 1,477,266 | | |
| Michael D. Darrow | | | | $ | 2,380,366 | | | | | $ | 4,271,740 | | | | | $ | 1,772,729 | | |
| Oliver M. Foley | | | | $ | 801,438 | | | | | | | | | | | | | | |
| Teresa T. Luong | | | | $ | 607,084 | | | | | $ | 281,653 | | | | | | | | |
| Jeffrey J. Swart | | | | $ | 627,791 | | | | | $ | 957,619 | | | | | $ | 413,633 | | |
| Jay J. Ku | | | | $ | 607,084 | | | | | | | | | | | | | | |
| Name | | | Grant Date | | | Estimated Future Payouts under Non-Equity Incentive Plan Awards(2) | | | Estimated Future Payouts under Equity Incentive Plan Awards(3) | | | All other stock awards: Number of shares of stock or units (#) | | | Grant Date Fair Value of Stock Awards ($)(4) | | ||||||||||||
| Threshold ($) | | | Target ($) | | | Maximum ($) | | | Threshold (#) | | | Target (#) | | | Maximum (#) | | ||||||||||||
| Jantoon E. Reigersman | | | 3/1/2023 | | | | | | | | | | | | 12,126 | | | 303,158 | | | 530,526 | | | — | | | 860,969 | |
| 3/1/2023 | | | | | | | | | | | | — | | | — | | | — | | | 202,105(5) | | | 466,863 | | |||
| 7/29/2023 | | | | | | | | | | | | | | | | | | | | | 663,716(6) | | | 1,559,733 | | |||
| | | | 25,000 | | | 500,000 | | | 750,000 | | | | | | | | | | | | | | | | | |||
| Michael D. Darrow | | | 3/1/2023 | | | | | | | | | | | | 19,157 | | | 478,947 | | | 838,157 | | | — | | | 1,360,209 | |
| 3/1/2023 | | | | | | | | | | | | — | | | — | | | — | | | 205,263(5) | | | 474,158 | | |||
| | | | 29,500 | | | 590,000 | | | 885,000 | | | | | | | | | | | | | | | | | |||
| Oliver M. Foley | | | 10/30/2023 | | | | | | | | | | | | 8,979 | | | 224,493 | | | 392,862 | | | — | | | 457,966 | |
| 10/30/2023 | | | | | | | | | | | | | | | | | | | | | 150,000(5) | | | 276,000 | | |||
| | | | 1,726 | | | 34,521 | | | 51,781 | | | | | | | | | | | | | | | | | |||
| Teresa T. Luong | | | 3/1/2023 | | | | | | | | | | | | 4,886 | | | 122,150 | | | 213,762 | | | — | | | 346,906 | |
| 2/25/2023 | | | | | | | | | | | | | | | | | | | | | 105,263 | | | 265,263 | | |||
| | | | 20,000 | | | 400,000 | | | 600,000 | | | | | | | | | | | | | | | | | |||
| Jeffrey J. Swart | | | 3/1/2023 | | | | | | | | | | | | 5,052 | | | 126,316 | | | 221,053 | | | — | | | 358,737 | |
| 3/1/2023 | | | | | | | | | | | | — | | | — | | | — | | | 84,211(5) | | | 194,527 | | |||
| | | | 10,000 | | | 200,000 | | | 300,000 | | | | | | | | | | | | | | | | | |||
| Jay J. Ku | | | 3/1/2023 | | | | | | | | | | | | 4,886 | | | 122,150 | | | 213,762 | | | — | | | 346,906 | |
| 2/25/2023 | | | | | | | | | | | | | | | | | | | | | 105,263 | | | 265,263 | | |||
| | | | 8,822 | | | 176,438 | | | 264,658 | | | | | | | | | | | | | | | | |
| Name | | | Grant Date | | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||
| Number of Securities Underlying Unexercised Options | | | Option Exercise Price Per Share | | | 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 ($) | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights that have Not Vested (#) | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights that have Not Vested ($) | | |||||||||||||||
| Exercisable | | | Unexercisable | | ||||||||||||||||||||||||||||||
| Jantoon E. Reigersman | | | 1/27/2021(1) | | | 137,281 | | | 68,641 | | | $4.67 | | | | | 1/27/2031 | | | | | | | | | | | | | | | | | |
| 1/27/2021(2) | | | | | | | | | | | | | | | | | | 91,093 | | | | | 315,182 | | | | | | | | | |||
| 3/12/2021(3) | | | 47,147 | | | 19,413 | | | $5.18 | | | | | 3/12/2031 | | | | | | | | | | | | | | | | | | |||
| 3/12/2021(4) | | | | | | | | | | | | | | | | | | 24,510 | | | | | 84,805 | | | | | | | | | |||
| 3/12/2021(5) | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,287 | | | 11,373 | | |||
| 3/31/2022(6) | | | | | | | | | | | | | | | | | | 144,000 | | | | | 498,240 | | | | | | | | | |||
| 3/31/2022(7) | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,094 | | | 41,845 | | |||
| 3/1/2023(8) | | | | | | | | | | | | | | | | | | 164,210 | | | | | 568,167 | | | | | | | | | |||
| 3/1/2023(9) | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,126 | | | 41,956 | | |||
| 7/29/2023(10) | | | | | | | | | | | | | | | | | | 663,716 | | | | | 2,296,457 | | | | | | | | | |||
| Michael D. Darrow | | | 3/21/2021(5) | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,963 | | | 10,252 | |
| 3/31/2022(7) | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,723 | | | 26,722 | | |||
| 3/1/2023(9) | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,625 | | | 5,623 | | |||
| Oliver M. Foley | | | 10/30/2023(11) | | | | | | | | | | | | | | | | | | 150,000 | | | | | 519,000 | | | | | | | | |
| 10/30/2023(9) | | | | | | | | | | | | | | | | | | | | | | | | | | | 8,979 | | | 31,067 | | |||
| Teresa T. Luong | | | 5/1/214(12) | | | 16,666 | | | — | | | $12.81 | | | | | 1/2/2024 | | | | | | | | | | | | | | | | | |
| 5/15/2014(12) | | | 6,203 | | | — | | | $12.81 | | | | | 1/2/2024 | | | | | | | | | | | | | | | | | | |||
| 2/3/2015(12) | | | 1,802 | | | — | | | $19.29 | | | | | 1/2/2024 | | | | | | | | | | | | | | | | | | |||
| 8/11/2016(12) | | | 9,035 | | | — | | | $10.85 | | | | | 1/2/2024 | | | | | | | | | | | | | | | | | | |||
| 6/10/2017(12) | | | 28,548 | | | — | | | $18.91 | | | | | 1/2/2024 | | | | | | | | | | | | | | | | | | |||
| 11/27/2018(12) | | | 10,639 | | | — | | | $10.57 | | | | | 1/2/2024 | | | | | | | | | | | | | | | | | | |||
| 3/15/2019(12) | | | 12,096 | | | — | | | $6.93 | | | | | 1/2/2024 | | | | | | | | | | | | | | | | | | |||
| 3/31/2022(7) | | | | | | | | | | | | | | | | | | | | | | | | | | | 634 | | | 2,194 | | |||
| 3/1/2023(9) | | | | | | | | | | | | | | | | | | | | | | | | | | | 900 | | | 3,114 | |
| Name | | | Grant Date | | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||
| Number of Securities Underlying Unexercised Options | | | Option Exercise Price Per Share | | | Option Expiration Date | | | Number of Shares or Units of Stock that have Not Vested (#) | | | Market Value of Shares or Units of Stock that have Not Vested ($) | | | 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 ($) | | |||||||||||||||
| Exercisable | | | Unexercisable | | ||||||||||||||||||||||||||||||
| Jeffrey J. Swart | | | 5/2/2014(12) | | | 300,000 | | | — | | | $12.81 | | | | | 5/2/2024 | | | | | | | | | | | | | | | | | |
| 5/15/2014(12) | | | 11,227 | | | — | | | $12.81 | | | | | 5/15/2024 | | | | | | | | | | | | | | | | | | |||
| 8/11/2016(12) | | | 200,000 | | | — | | | $10.85 | | | | | 8/11/2026 | | | | | | | | | | | | | | | | | | |||
| 6/10/2017(12) | | | 146,736 | | | — | | | $18.91 | | | | | 6/10/2027 | | | | | | | | | | | | | | | | | | |||
| 5/12/2018(12) | | | 78,337 | | | — | | | $9.59 | | | | | 5/12/2028 | | | | | | | | | | | | | | | | | | |||
| 3/15/2019(12) | | | 54,432 | | | — | | | $6.93 | | | | | 3/15/2029 | | | | | | | | | | | | | | | | | | |||
| 3/16/2020(13) | | | 121,970 | | | 5,303 | | | $2.68 | | | | | 3/16/2030 | | | | | | | | | | | | | | | | | | |||
| 3/16/2020(14) | | | | | | | | | | | | | | | | | | 4,375 | | | | | 15,138 | | | | | | | | | |||
| 3/12/2021(3) | | | 33,003 | | | 13,589 | | | $5.18 | | | | | 3/12/2031 | | | | | | | | | | | | | | | | | | |||
| 3/12/2021(4) | | | | | | | | | | | | | | | | | | 17,157 | | | | | 59,363 | | | | | | | | | |||
| 3/12/2021(5) | | | | | | | | | | | | | | | | | | | | | | | | | | | 920 | | | 3,183 | | |||
| 3/31/2022(6) | | | | | | | | | | | | | | | | | | 51,000 | | | | | 176,460 | | | | | | | | | |||
| 3/31/2022(7) | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,283 | | | 14,819 | | |||
| 3/1/2023(8) | | | | | | | | | | | | | | | | | | 68,421 | | | | | 236,737 | | | | | | | | | |||
| 3/1/2023(9) | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,052 | | | 17,480 | | |||
| Jay J. Ku | | | 2/25/2023(15) | | | | | | | | | | | | | | | | | | 92,105 | | | | | 318,683 | | | | | | | | |
| 3/1/2023(9) | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,886 | | | 16,906 | |
| Name | | | Option Awards | | | Stock Awards | | ||||||
| Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise ($) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting ($)(1) | | |||
| Jantoon E. Reigersman | | | — | | | — | | | 182,230 | | | 470,207 | |
| Oliver M. Foley | | | — | | | — | | | — | | | — | |
| Jeffrey J. Swart | | | — | | | — | | | 113,059 | | | 283,004 | |
| Jay J. Ku | | | — | | | — | | | 13,158 | | | 33,027 | |
| Michael D. Darrow | | | 188,878 | | | 34,680 | | | 538,888 | | | 1,290,804 | |
| Teresa T. Luong | | | 17,046 | | | 4,983 | | | 82,977 | | | 183,792 | |
Name and Principal Position | Year | Salary ($) | Bonus ($) | Stock Awards ($)(1) | Option Awards ($)(1) | Non-Equity Incentive Plan Compensation ($)(2) | All Other Compensation ($) | Total ($) | |||||||||||||||||
Chip Perry | 2015 | 39,487 | 100,000 | (3) | 5,293,200 | 7,025,961 | — | 250 | 12,458,898 | ||||||||||||||||
President and Chief Executive Officer | |||||||||||||||||||||||||
Scott Painter | 2015 | 447,188 | 94,500 | (4) | 2,695,132 | 3,716,457 | 96,344 | 845,541 | (5) | 7,895,162 | |||||||||||||||
Former Chief Executive Officer and Chairman of the Board | 2014 | 450,000 | — | 752,064 | 18,419,146 | 490,762 | 37,209 | (6) | 20,149,181 | ||||||||||||||||
Michael Guthrie | 2015 | 389,063 | 80,372 | (7) | 1,704,266 | 743,291 | 89,000 | 253,805 | (8) | 3,259,797 | |||||||||||||||
Chief Financial Officer | |||||||||||||||||||||||||
John Stephenson | 2015 | 389,063 | 56,000 | (9) | 1,222,252 | 557,469 | 118,453 | 259,838 | (10) | 2,603,075 | |||||||||||||||
Chief Risk Officer | 2014 | 248,798 | 75,060 | (11) | — | 6,794,050 | 279,875 | 124,442 | (12) | 7,522,225 |
| Name | | | | | | Potential Payments Upon | | |||||||||
| Benefit | | | Termination other than for Cause or a Resignation for Good Reason | | | Change in Control ($)(1) | | | Death or Disability ($) | | ||||||
| Prior to Change in Control ($) | | | Upon or Following Change in Control ($) | | ||||||||||||
| Jantoon E. Reigersman | | | Cash Severance(2) | | | 1,000,000 | | | 2,000,000 | | | — | | | — | |
| Vesting Acceleration of Equity Awards(3) | | | 3,102,831(4) | | | 6,838,565(5) | | | 5,158,472 | | | 6,426,825(6) | | |||
| Continued Coverage of Employee Benefits(7) | | | 32,205 | | | 32,205 | | | — | | | 32,205 | | |||
| Total Benefits | | | 4,135,036 | | | 8,870,770 | | | 5,158,472 | | | 6,459,030 | | |||
| Oliver Foley | | | Cash Severance(8) | | | 200,000 | | | 200,000 | | | — | | | — | |
| Vesting Acceleration of Equity Awards(3) | | | 230,238(4) | | | 1,878,305(5) | | | 1,704,509 | | | 1,295,746(6) | | |||
| Continued Coverage of Employee Benefits(7) | | | 16,240 | | | 16,240 | | | — | | | 32,479 | | |||
| Total Benefits | | | 446,478 | | | 2,094,545 | | | 1,704,509 | | | 1,328,225 | | |||
| Jeffrey J. Swart | | | Cash Severance(8) | | | 400,000 | | | 400,000 | | | — | | | — | |
| Vesting Acceleration of Equity Awards(3) | | | 643,694(4) | | | 901,131(5) | | | 623,004 | | | 1,021,636(6) | | |||
| Continued Coverage of Employee Benefits(7) | | | 22,642 | | | 22,642 | | | — | | | 22,642 | | |||
| Total Benefits | | | 1,066,336 | | | 1,323,773 | | | 623,004 | | | 1,044,278 | | |||
| Jay J. Ku | | | Cash Severance(8) | | | 200,000 | | | 200,000 | | | — | | | — | |
| Vesting Acceleration of Equity Awards(3) | | | 280,138(4) | | | 1,058,302(5) | | | 890,765 | | | 741,322 | | |||
| Continued Coverage of Employee Benefits(7) | | | 16,103 | | | 16,103 | | | — | | | 32,205 | | |||
| Total Benefits | | | 496,241 | | | 1,274,405 | | | 890,765 | | | 773,527 | |
| Name | | | Benefit | | | Payment Upon Termination other than for Cause or a Resignation for Good Reason Prior to Change in Control ($) | |
| Michael D. Darrow | | | Cash Severance | | | 1,180,000(1) | |
| Vesting Acceleration of Equity Awards | | | 1,471,974(2) | | |||
| Continued Coverage of Employee Benefits | | | 32,520(3) | | |||
| Total Benefits | | | 2,684,494 | | |||
| Teresa T. Luong | | | Cash Severance | | | 400,000(4) | |
| Vesting Acceleration of Equity Awards | | | 181,131(2) | | |||
| Continued Coverage of Employee Benefits | | | 32,555(3) | | |||
| Total Benefits | | | 613,686 | |
Named Executive Officer | Grant Date | Option Awards(1) | Stock Awards(1) | Grant Date Fair Value of Equity Awards ($) (2) | |||||||
Chip Perry | 12/14/2015 | 1,840,000 | 7,025,961 | ||||||||
12/14/2015 | 660,000 | 5,293,200 | |||||||||
Scott Painter | 3/12/2015 | 4,445 | 76,810 | ||||||||
4/23/2015 | 500,000 | 3,716,457 | |||||||||
4/23/2015 | 166,666 | 2,618,323 | |||||||||
Michael Guthrie | 3/12/2015 | 3,723 | 64,333 | ||||||||
4/23/2015 | 100,000 | 743,291 | |||||||||
4/23/2015 | 55,000 | 864,050 | |||||||||
10/1/2015 | 153,034 | 775,882 | |||||||||
John Stephenson | 3/12/2015 | 3,103 | 53,620 | ||||||||
4/23/2015 | 75,000 | 557,469 | |||||||||
4/23/2015 | 25,000 | 392,750 | |||||||||
10/1/2015 | 153,034 | 775,882 |
Named Executive Officer | Annual Target Award Opportunity | Actual Award Amount (1) | ||||||
Michael Guthrie | $ | 393,750 | $ | 169,372 | ||||
John Stephenson | $ | 393,750 | $ | 174,453 | ||||
Scott Painter | $ | 472,500 | $ | 96,344 |
Option Awards | Stock Awards | ||||||||||||||||||||||
Number of Shares or Units of Stock that have Not Vested | Market Value of Shares or Units of Stock that have Not Vested | ||||||||||||||||||||||
Number of Securities Underlying Unexercised Options | Option Exercise Price Per Share | Option Expiration Date | |||||||||||||||||||||
Name | Grant Date | Exercisable | Unexercisable | ||||||||||||||||||||
Chip Perry | 12/14/2015 | (1) | — | 1,840,000 | $ | 8.02 | 12/14/2025 | ||||||||||||||||
12/14/2015 | (2) | 660,000 | $ | 6,296,400 | |||||||||||||||||||
Scott Painter | 5/1/2007 | (3) | 305,372 | — | $ | 1.53 | 5/1/2017 | ||||||||||||||||
8/21/2007 | (3) | 644,444 | — | $ | 0.495 | 8/21/2017 | |||||||||||||||||
4/20/2009 | (3) | 416,121 | — | $ | 0.825 | 4/20/2019 | |||||||||||||||||
11/19/2009 | (3) | 308,332 | — | $ | 0.825 | 11/19/2019 | |||||||||||||||||
7/15/2010 | (3) | 952,273 | — | $ | 2.115 | 7/15/2020 | |||||||||||||||||
2/17/2011 | (3) | 533,733 | — | $ | 2.835 | 2/17/2021 | |||||||||||||||||
6/14/2011 | (4)(5) | 359,962 | — | $ | 3.555 | 6/14/2021 | |||||||||||||||||
2/14/2012 | (4)(6) | 540,408 | — | $ | 11.505 | 2/14/2022 | |||||||||||||||||
2/22/2013 | (4)(6) | 269,726 | — | $ | 7.92 | 2/22/2023 | |||||||||||||||||
5/2/2013 | (4)(6) | 130,776 | — | $ | 7.92 | 5/2/2023 | |||||||||||||||||
10/22/2013 | (4)(7) | 561,296 | — | $ | 8.88 | 10/22/2023 | |||||||||||||||||
1/28/2014 | (4)(6) | 112,422 | — | $ | 8.895 | 1/28/2024 | |||||||||||||||||
2/7/2014 | (4)(6) | 144,433 | — | $ | 9.255 | 2/7/2024 | |||||||||||||||||
2/7/2014 | (4)(8) | 130,080 | — | $ | 9.255 | 2/7/2024 | |||||||||||||||||
2/28/2014 | (4)(6) | 1,155,000 | — | $ | 9.255 | 2/28/2024 | |||||||||||||||||
5/2/2014 | (4)(9) | 124,820 | — | $ | 12.81 | 5/2/2024 | |||||||||||||||||
5/21/2014 | (10) | 43,928 | $ | 419,073 | |||||||||||||||||||
4/23/2015 | (11) | 114,583 | 302,083 | $ | 15.71 | 4/23/2025 | |||||||||||||||||
4/23/2015 | (12) | 93,750 | $ | 894,375 | |||||||||||||||||||
Michael Guthrie | 2/14/2012 | (4)(6) | 299,999 | — | $ | 11.505 | 2/14/2022 | ||||||||||||||||
2/22/2013 | (4)(6) | 78,427 | — | $ | 7.92 | 2/22/2023 | |||||||||||||||||
5/2/2013 | (4)(6) | 33,333 | — | $ | 7.92 | 5/2/2023 | |||||||||||||||||
6/26/2013 | (4)(13) | 180,876 | — | $ | 7.92 | 6/26/2023 | |||||||||||||||||
10/22/2013 | (4)(7) | 116,666 | — | $ | 8.88 | 10/22/2023 | |||||||||||||||||
2/7/2014 | (4)(6) | 59,999 | — | $ | 9.255 | 2/7/2024 | |||||||||||||||||
2/28/2014 | (4)(6) | 105,000 | — | $ | 9.255 | 2/28/2024 | |||||||||||||||||
5/2/2014 | (4)(9) | 206,500 | — | $ | 12.81 | 5/2/2024 | |||||||||||||||||
5/21/2014 | (10) | 22,125 | $ | 211,073 | |||||||||||||||||||
4/23/2015 | (11) | 22,916 | 77,084 | $ | 15.71 | 4/23/2025 | |||||||||||||||||
4/23/2015 | (12) | 41,250 | $ | 393,525 | |||||||||||||||||||
10/1/2015 | (14) | 143,470 | $ | 1,368,704 | |||||||||||||||||||
John Stephenson | 5/2/2014 | (15) | 343,055 | 523,611 | $ | 12.81 | 5/2/2024 | ||||||||||||||||
5/2/2014 | (9) | 18,437 | 70,063 | $ | 12.81 | 5/2/2024 | |||||||||||||||||
9/8/2014 | (3) | 5,796 | — | $ | 23.47 | 9/8/2024 | |||||||||||||||||
4/23/2015 | (11) | 17,187 | 57,813 | $ | 15.71 | 4/23/2025 | |||||||||||||||||
4/23/2015 | (12) | 18,750 | $ | 178,875 | |||||||||||||||||||
10/1/2015 | (14) | 143,470 | $ | 1,368,704 |
Plan Category | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants, and Rights | Weighted-average Exercise Price of Outstanding Options, Warrants, and Rights | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans | |||||||||||||
Equity compensation plans approved by stockholders(1) | 26,185,241 | (2 | ) | $ | 8.12 | (3 | ) | 3,095,368 | (4 | ) | ||||||
Equity compensation plans not approved by stockholders(5) | 3,471,478 | $ | 10.41 | — | ||||||||||||
Total | 29,656,719 | $ | 8.39 | (3 | ) | 3,095,368 | (4 | ) |
| Plan Category | | | Number of Securities to be Issued Upon Exercise of Outstanding Options and Rights | | | Weighted-average Exercise Price of Outstanding Options and Rights | | | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plan | |
Equity compensation plan approved by stockholders(1) | | | 10,522,964(2) | | | $10.65(3) | | | 22,770,982 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Value of Initial Fixed $100 Investment Based on: | | | | | | | | | | | | | | |||||||||
| Year | | | Summary Compensation Table Total for Former PEO(1) | | | Compensation Actually Paid to Former PEO(3) | | | Summary Compensation Table Total for Current PEO(2) | | | Compensation Actually Paid to Current PEO(3) | | | Average Summary Compensation Table Total for Non-PEO NEOs(4) | | | Average Compensation Actually paid to Non-PEO NEOs(5) | | | Total Shareholder Return(6) | | | Peer Group Total Shareholder Return(7) | | | Net Income (loss) (millions)(8) | | | Adjusted EBITDA (millions)(9) | | |||||||||||||||||||||||||||
| (a) | | | (b) | | | (c) | | | (d) | | | (e) | | | (f) | | | (g) | | | (h) | | | (i) | | | (j) | | | (k) | | |||||||||||||||||||||||||||
| 2023 | | | $4,811,134 | | | | $ | 1,580,913 | | | | | $ | 3,826,018 | | | | | $ | 6,146,011 | | | | | $ | 1,173,934 | | | | | $ | 1,435,267 | | | | | $ | 72.84 | | | | | $ | 118.90 | | | | | $ | (49.77) | | | | | $ | (13.69) | | |
| 2022 | | | $4,508,812 | | | | $ | 2,072,029 | | | | | $ | — | | | | | $ | — | | | | | $ | 2,321,256 | | | | | $ | 1,224,363 | | | | | $ | 52.84 | | | | | $ | 81.51 | | | | | $ | (118.69) | | | | | $ | (29.95) | | |
| 2021 | | | $3,608,731 | | | | $ | 1,545,311 | | | | | $ | — | | | | | $ | — | | | | | $ | 1,221,066 | | | | | $ | 489,836 | | | | | $ | 71.58 | | | | | $ | 134.42 | | | | | $ | (38.33) | | | | | $ | 4.89 | | |
| 2020 | | | $3,635,922 | | | | $ | 5,223,052 | | | | | $ | — | | | | | $ | — | | | | | $ | 1,476,475 | | | | | $ | 965,362 | | | | | $ | 88.42 | | | | | $ | 137.33 | | | | | $ | 76.54 | | | | | $ | 42.10 | | |
| Year | | | Reported Summary Compensation Table Total for Former PEO ($) | | | Reported Value of Equity Awards(a) ($) | | | Equity Award Adjustments(b) ($) | | | Compensation Actually Paid to Former PEO ($) | |
| 2023 | | | $4,811,134 | | | $(3,306,341) | | | $76,120 | | | $1,580,913 | |
| 2022 | | | $4,508,812 | | | $(3,467,996) | | | $1,031,213 | | | $2,072,029 | |
| 2021 | | | $3,608,731 | | | $(3,008,492) | | | $945,072 | | | $1,545,311 | |
| 2020 | | | $3,635,922 | | | $(2,659,693) | | | $4,246,823 | | | $5,223,052 | |
| Year | | | Reported Summary Compensation Table Total for Current PEO ($) | | | Reported Value of Equity Awards(a) ($) | | | Equity Award Adjustments(b) ($) | | | Compensation Actually Paid to Current PEO ($) | |
| 2023 | | | $3,826,018 | | | $(2,887,564) | | | $5,207,557 | | | $6,146,011 | |
| 2022 | | | $— | | | $— | | | $— | | | $— | |
| 2021 | | | $— | | | $— | | | $— | | | $— | |
| 2020 | | | $— | | | $— | | | $— | | | $— | |
| Year | | | Year End Fair Value of Outstanding and Unvested Equity Awards Granted in the Year ($) | | | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years ($) | | | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($) | | | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($) | | | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($) | | | Total Equity Award Adjustments | |
| 2023 | | | $192,634 | | | $344,924 | | | $541,894 | | | $(135,407) | | | $(867,925) | | | $76,120 | |
| 2022 | | | $1,810,447 | | | $(751,394) | | | $113,263 | | | $(132,318) | | | $(8,785) | | | $1,031,213 | |
| 2021 | | | $1,438,189 | | | $(923,537) | | | $287,084 | | | $143,336 | | | $— | | | $945,072 | |
| 2020 | | | $3,805,266 | | | $(114,853) | | | $740,818 | | | $(184,408) | | | $— | | | $4,246,823 | |
| Year | | | Year End Fair Value of Outstanding and Unvested Equity Awards Granted in the Year ($) | | | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years ($) | | | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($) | | | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($) | | | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($) | | | Total Equity Award Adjustments | |
| 2023 | | | $4,301,593 | | | $788,332 | | | $107,243 | | | $10,389 | | | $— | | | $5,207,557 | |
| 2022 | | | $— | | | $— | | | $— | | | $— | | | $— | | | $— | |
| 2021 | | | $— | | | $— | | | $— | | | $— | | | $— | | | $— | |
| 2020 | | | $— | | | $— | | | $— | | | $— | | | $— | | | $— | |
| Year | | | Average Reported Summary Compensation Table Total for Non-PEO NEOs ($) | | | Average Reported Value of Equity Awards ($) | | | Average Equity Award Adjustments(a) ($) | | | Average Compensation Actually Paid to Non-PEO NEOs ($) | |
| 2023 | | | $1,173,934 | | | $(673,175) | | | $934,508 | | | $1,435,267 | |
| 2022 | | | $2,321,256 | | | $(1,730,805) | | | $633,912 | | | $1,224,363 | |
| 2021 | | | $1,221,066 | | | $(844,423) | | | $113,193 | | | $489,836 | |
| 2020 | | | $1,476,475 | | | $(1,066,211) | | | $555,098 | | | $965,362 | |
| Year | | | Year End Fair Value of Outstanding and Unvested Equity Awards Granted in the Year ($) | | | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Years ($) | | | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($) | | | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($) | | | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($) | | | Total Equity Award Adjustments | |
| 2023 | | | $855,739 | | | $66,849 | | | $40,169 | | | $(5,616) | | | $(22,633) | | | $934,508 | |
| 2022 | | | $902,151 | | | $(276,657) | | | $75,509 | | | $(63,606) | | | $(3,485) | | | $633,912 | |
| 2021 | | | $415,804 | | | $(46,854) | | | $83,038 | | | $67,584 | | | $(406,379) | | | $113,193 | |
| 2020 | | | $759,566 | | | $(49,529) | | | $239,081 | | | $(75,258) | | | $(318,762) | | | $555,098 | |
| Most Important Performance Measures | |
| |
Revenue | |
Compound annual growth in stock price | |
| | | | Fiscal Year | | |||||||||
| | | | 2022 | | | 2023 | | ||||||
| Audit Fees | | | | $ | 1,720,000 | | | | | $ | 1,650,000 | | |
| Audit-Related Fees | | | | | 35,118 | | | | | | — | | |
| Tax Fees | | | | | 27,500 | | | | | | 19,000 | | |
| All Other Fees | | | | | 4,150 | | | | | | 900 | | |
| Total | | | | $ | 1,786,768 | | | | | $ | 1,669,900 | | |
Fiscal Year | ||||||||
2014 | 2015 | |||||||
Audit Fees | $ | 1,996,200 | $ | 1,799,000 | ||||
Audit-Related Fees | — | 198,211 | ||||||
Tax Fees | 196,392 | 170,070 | ||||||
All Other Fees | 2,090 | 6,335 | ||||||
Total | $ | 2,194,682 | $ | 2,173,616 |
| | | | Year Ended December 31, | | |||||||||||||||
| | | | 2023 | | | 2022 | | | 2021 | | |||||||||
| | | | (in thousands) | | |||||||||||||||
| Reconciliation of Net (Loss) Income to Adjusted EBITDA: | | | | | | | | | | | | | | | | | | | |
| Net (loss) income | | | | $ | (49,766) | | | | | $ | (118,685) | | | | | $ | (38,329) | | |
| Income from discontinued operations, net of taxes | | | | | — | | | | | | — | | | | | | (40) | | |
| Loss from continuing operations | | | | | (49,766) | | | | | | (118,685) | | | | | | (38,369) | | |
| Non-GAAP adjustments: | | | | | | | | | | | | | | | | | | | |
| Interest income | | | | | (6,718) | | | | | | (2,565) | | | | | | (52) | | |
| Depreciation and amortization | | | | | 17,699 | | | | | | 16,520 | | | | | | 16,279 | | |
| Stock-based compensation | | | | | 14,299 | | | | | | 17,681 | | | | | | 20,395 | | |
| (Gain) loss from equity method investment(1) | | | | | — | | | | | | (1,845) | | | | | | 5,404 | | |
| Change in fair value of contingent consideration liability | | | | | 931 | | | | | | 359 | | | | | | 41 | | |
| (Gain) loss from lease exit(2) | | | | | (1,477) | | | | | | 214 | | | | | | — | | |
| Impairment of right-of-use (“ROU”) assets(3) | | | | | 2,376 | | | | | | — | | | | | | 1,652 | | |
| Transaction costs(4) | | | | | — | | | | | | 1,200 | | | | | | — | | |
| Restructuring charges(5) | | | | | 8,947 | | | | | | — | | | | | | — | | |
| Goodwill impairment(6) | | | | | — | | | | | | 59,775 | | | | | | — | | |
| Other income | | | | | — | | | | | | (40) | | | | | | (667) | | |
| Provision for (benefit from) income taxes | | | | | 17 | | | | | | (2,560) | | | | | | 206 | | |
| Adjusted EBITDA | | | | $ | (13,692) | | | | | $ | (29,946) | | | | | $ | 4,889 | | |