þ | No fee required. | |||||||
¨ | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. | |||||||
1) Title of each class of securities to which transaction applies: | ||||||||
2) Aggregate number of securities to which transaction applies: | ||||||||
3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): | ||||||||
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¨ Fee paid previously with preliminary materials. | ||||||||
¨ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. | ||||||||
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Thomas N. Kelly Jr., age 73, Director of the Company since 2006 | ||||||||||||||
Mr. Kelly is a former director of GameStop Corp., where he also chaired the Compensation Committee. Mr. Kelly also served as Executive Vice President, Transition Integration of Sprint Communications (“Sprint”), a global communications company, from December 2005 until April 2006. He served as the Chief Strategy Officer of Sprint from August 2005 until December 2005. He served as the Executive Vice President and Chief Operating Officer of Nextel Communications, Inc., which became Sprint, from February 2003 until August 2005, and as Executive Vice President and Chief Marketing Officer of Nextel Communications, Inc. from 1996 until February 2003. Our Corporate Governance Guidelines specify that, in general, a director should not stand for re-election once he or she has reached the age of 72, but provide the Board with flexibility to nominate a director who is age 72 or older based on individual circumstances. Mr. Kelly turned 73 on April 29, 2020. The Board, in alignment with a recommendation from the Governance Committee, reviewed Mr. Kelly’s individual circumstances, Company priorities, Board needs, and Mr. Kelly’s experience and expertise and determined that nominating Mr. Kelly is in the best interests of the Company. Having served at various times as Chief Strategy Officer, Chief Operating Officer and Chief Marketing Officer of Sprint, Mr. Kelly brings an extensive skill set to the boardroom. His blend of leadership, innovation and technology, international, marketing/consumer industry and financial experience make him a key advisor to the Board on a full range of consumer and strategy-related matters. Committee Memberships: Innovation and Technology (Chair); Audit; Compensation |
Peter E. Shumlin, age 64, Director of the Company since 2017 | ||||||||||||||
Governor Shumlin is a director of Putney Student Travel, National Geographic Student Expeditions and New York Times Student Journeys which provide educational summer programs for students around the globe. He is a principal in numerous real estate partnerships specializing in commercial and residential properties. Governor Shumlin served three terms as the 81st Governor of the State of Vermont, having held office from 2011 to 2017. Prior to serving as Governor, he served two terms in the Vermont House of Representatives and 14 non-consecutive years in the Vermont Senate, serving on the Rules Committee, the Finance Committee, the Transportation Committee, the Appropriations Committee and as Senate President Pro Tempore. Governor Shumlin’s lengthy public service career provides in-depth knowledge of government, public policy, legal, finance, governance and leadership matters. We believe his unique experience and skill set make him a valuable asset to the Board. Committee Memberships: Compensation (Chair); Finance; Governance |
John R. Vines, age 71, Director of the Company since 2013 and Lead Independent Director since 2014 | ||||||||||||||
Lieutenant General (retired) Vines has been a partner of McChrystal Group since 2016 and was previously a Senior Advisor to McChrystal Group beginning in 2011. General Vines retired in 2007 from the U.S. Army after 35 years active service. He was in continuous command for his last six years of service, including as Commander, U.S. Army’s XVIII Airborne Corps and Multi-National Corps Iraq. In addition, he commanded the Combined Joint Task Force 180 Afghanistan. General Vines also served as the Senior Defense Representative to Afghanistan and Pakistan and previously commanded the 82nd Airborne Division, which included a year-long deployment in Afghanistan. Following retirement, General Vines acted as a Department of Defense Senior Mentor to U.S. Army and joint senior leadership and deploying combat units, a member of the Defense Service Board and a member of the Army DARPA Senior Advisory Group. With more than 35 years of active military service and significant management consulting experience, General Vines brings extensive leadership, strategy and innovation experience to the Board. Committee Membership: Governance |
David C. Evans, age | ||||||||||||||
Mr. Evans is a director of Cardinal Health Inc. (“Cardinal Health”), a global integrated healthcare services and products company. Mr. Evans served as the Interim Chief Financial Officer of Cardinal Health from September 2019 until May 2020, after a transition role beginning in July 2019. Mr. Evans previously served as Executive Vice President and Chief Financial Officer of Battelle Memorial Institute (“Battelle”), a private research and development organization with revenue of $5 billion, from March 2013 until January 2018. Mr. Evans’ responsibilities at Battelle included strategy, Mr. Evans’ financial acumen and intimate familiarity with the Company makes him uniquely qualified to serve as a member of the Board. Mr. Evans qualifies as an “audit committee financial expert” as that term is defined in the applicable rules and regulations of the SEC (“SEC Rules”) and his financial experience is particularly valuable to the Board in his role as a member of the Audit Committee. Committee Membership: Audit; |
Adam Hanft, age | ||||||||||||||
Mr. Hanft is the founder and Chief Executive Officer of Hanft Projects LLC (“Hanft Projects”), a strategic consultancy that provides marketing advice and insight to leading consumer and business-to-business companies as well as many leading digital brands. He writes broadly about the consumer culture for numerous publications and is the co-author of “Dictionary of the Future.” He is also a frequent commentator on marketing and branding issues. Prior to starting Hanft Projects, Mr. Hanft served as founder and Chief Executive Officer of Hanft Unlimited, Inc., a marketing organization created in 2004 that included an advertising agency, strategic consultancy and custom-publishing operation. Mr. Hanft also serves as a director for 1-800-FLOWERS.COM Inc. As the Chief Executive Officer of Hanft Projects, Mr. Hanft brings his extensive leadership, marketing/consumer industry and innovation and technology experience to the Board. His knowledge of the consumer marketplace, media and current branding initiatives has proven particularly valuable to the Board. Committee Membership: Innovation and Technology |
Stephen L. Johnson, age | ||||||||||||||
Mr. Johnson is the President and Chief Executive Officer of Stephen L. Johnson and Associates Strategic Consulting, LLC (“Johnson and Associates”), a strategic provider of business, research and financial management and consulting services formed in 2009. Prior to forming Johnson and Associates, Mr. Johnson worked for the U.S. Environmental Protection Agency for 30 years, where he became the first career employee and scientist to serve as Administrator, a position he held from January 2005 through January 2009. Mr. Johnson serves as a As President and Chief Executive Officer of Johnson and Associates and the former Administrator of the U.S. Environmental Protection Agency, as well as a lifelong scientist, Mr. Johnson brings considerable leadership and innovation and technology experience to the Committee Memberships: Governance (Chair); Compensation; Innovation and Technology |
Katherine Hagedorn Littlefield, age | ||||||||||||||
Ms. Littlefield is a general partner of the Hagedorn Partnership, L.P. She also serves on the board for the Hagedorn Family Foundation, Inc., a charitable organization. She is the sister of James Hagedorn, the Company’s CEO and Chairman of the Board. Ms. Littlefield is a member of the Board of Trustees at Delaware Valley University. As a general partner and former Chair of the Hagedorn Partnership, L.P., the Company's largest shareholder, Ms. Littlefield brings a strong shareholder voice to the boardroom. She also has significant innovation and technology experience, having served on the Company's Innovation and Technology Committee (and its predecessors) since May 2004, as well as on the Innovation Advisory Board from its formation in 2001 until January 2014 when it was retired. Committee Memberships: Finance (Chair); Innovation and Technology |
James Hagedorn, age | ||||||||||||||
Mr. Hagedorn has served as CEO of the Company since May 2001 and Chairman of the Board since January 2003. In addition to serving as CEO and Chairman of the Board, he served as President of the Company from October 2015 until February Having joined the Company in 1987 and the Board in 1995, and with service as CEO and Chairman of the Board for |
Brian D. Finn, age | ||||||||||||||
Mr. Finn is a director of WaveGuide Corporation, a health care technology company, Owl Rock Capital Corporation, an investment firm specializing in mezzanine loan investments in middle-market companies, and X-Vax Technology, Inc. an early stage biotechnology company. Mr. Finn is also the Chairman of Star Mountain Capital LLC, a private equity firm. Mr. Finn served as the Chief Executive Officer and Chairman of Asset Management Finance Mr. Finn has over 30 years of experience in the financial industry, including his service in leadership roles in the investment banking and private equity sectors, which provides the Board with additional expertise in strategically growing businesses. Mr. Finn’s service as the Co-Head of Mergers and Acquisitions for Credit Suisse augments the Board’s capabilities in analyzing and evaluating acquisition opportunities. Mr. Finn qualifies as an “audit committee financial expert” as that term is defined in the applicable SEC Rules and his financial experience is also particularly valuable to the Board in his service as a member of the Audit Committee and the Finance Committee. Committee Memberships: Audit; Finance |
Nancy G. Mistretta, age | ||||||||||||||
Ms. Mistretta is a director of HSBC North America Holdings, Inc., HSBC USA Inc., and HSBC Bank USA, N.A., where she serves on the Audit Committee and Risk Committee and chairs the Nominating & Governance Committee. In addition, Ms. Mistretta is a member of the Board of Directors of GAM Holding AG in Zurich, Switzerland, where she chairs the Compensation Committee and serves on the Governance and Nominating Committee. Ms. Mistretta is a retired partner of Russell Reynolds Associates (“Russell Reynolds”), an executive search firm, where she served as a partner from February 2005 until June 2009. She was a member of Russell Reynolds’ Not-For-Profit Sector and was responsible for managing executive officer searches for many large philanthropic organizations, with a particular focus on educational searches for presidents, deans and financial officers. Based in New York City, she also was active in the CEO/Board Services Practice of Russell Reynolds. Prior to joining Russell Reynolds, Ms. Mistretta was with JPMorgan Chase & Co. and its heritage institutions (collectively, “JPMorgan”) for 29 years and served as a Managing Director in Investment Banking from 1991 to 2005. Throughout her nearly 30-year career at JPMorgan, Ms. Mistretta demonstrated a range of skills including leadership, international, marketing/consumer industry, retail and financial experience, including through roles as Managing Director responsible for Investment Bank Marketing and Communications, industry head responsible for the Global Diversified Industries group and industry head responsible for the Diversified, Consumer Products and Retail Industries group. Ms. Mistretta qualifies as an “audit committee financial expert” as that term is defined in the applicable SEC Rules and her financial experience is particularly valuable to the Board in her service as Chair of the Audit Committee and member of the Finance Committee. Committee Memberships: Audit (Chair); |
Audit | Compensation and Organization | Nominating and Governance | Finance | Innovation and Technology | ||||||||||||||||||||||||||
Nancy G. Mistretta (Chair) | Peter E. Shumlin (Chair) | Stephen L. Johnson (Chair) | Katherine Hagedorn Littlefield (Chair) | Thomas N. Kelly Jr. (Chair) | ||||||||||||||||||||||||||
David C. Evans | Stephen L. Johnson | Peter E. Shumlin | David C. Evans | Adam Hanft | ||||||||||||||||||||||||||
Brian D. Finn | John R. Vines | |||||||||||||||||||||||||||||
Thomas N. Kelly Jr. | ||||||||||||||||||||||||||||||
Nancy G. Mistretta | Peter E. Shumlin | Katherine Hagedorn Littlefield | ||||||||||||||||||||||||||||
(1) David C. Evans | (5) James F. McCann(1) | |||||||
(2) Brian D. Finn | (6) Nancy G. Mistretta | |||||||
(3) Stephen L. Johnson | (7) Peter E. Shumlin | |||||||
(4) Thomas N. Kelly Jr. | (8) John R. Vines |
Pay Elements | Amount | |||||||||||||
Annual Board Retainer: (all non-employee directors) | Cash Retainer ($25,000 per quarter) | $ | 100,000 | |||||||||||
Restricted Stock Units (annual) | $ | 185,000 | ||||||||||||
Committee Chair/Membership Fees | N/A | |||||||||||||
Lead Independent Director: (supplemental compensation) | Additional Cash Retainer ($3,750 per quarter) | $ | 15,000 | |||||||||||
Additional Restricted Stock Units (annual) | $ | 35,000 |
Pay Elements | Amount | |||||
Annual Board Retainer: (all Board members) | Cash Retainer ($25,000 per quarter) | $ | 100,000 | |||
Deferred Stock Units (annual) | $ | 185,000 | ||||
Committee Chair/Membership Fees | N/A | |||||
Lead Independent Director: (supplemental compensation) | Additional Cash Retainer ($3,750 per quarter) | $ | 15,000 | |||
Additional Deferred Stock Units (annual) | $ | 35,000 |
Design Element | How it Aligns to Shareholder Interests | |||||||
• Approximately 2/3 of annual compensation is equity based | • Significant portion of director pay is directly linked to long-term share price performance | |||||||
• Deferred settlement of equity based compensation | • Mandatory two-year holding period after vesting aligns | |||||||
• Mandatory share-based dividend equivalents on equity awards granted to directors | • Dividend equivalents automatically | |||||||
• Robust stock ownership guidelines (5x cash retainer) | • Directors must retain 50% of each equity grant until the stock ownership guidelines have been met |
Name | Fees Earned or Paid in Cash ($)(1) | Stock Awards ($)(5)(6) | Total ($) | Name | Fees Earned or Paid in Cash ($)(1) | Stock Awards ($)(4)(5) | Total ($) | ||||||||||||||||||||||
David C. Evans (appointed April 27, 2018) | 41,667 | 123,412 | 165,079 | ||||||||||||||||||||||||||
David C. Evans | David C. Evans | 100,000 | 185,047 | 285,047 | |||||||||||||||||||||||||
Brian D. Finn | 100,000 | 185,032 | 285,032 | Brian D. Finn | 100,000 | 185,047 | 285,047 | ||||||||||||||||||||||
Adam Hanft | 100,000 | (2) | 185,032 | (2) | 285,032 | Adam Hanft | 100,000 | (2) | 185,047 | (2) | 285,047 | ||||||||||||||||||
Craig R. Hargreaves (appointed July 30, 2018) | 16,667 | (3) | 77,127 | (3) | 93,794 | ||||||||||||||||||||||||
Michelle A. Johnson (term ended January 26, 2018) | 50,000 | — | 50,000 | ||||||||||||||||||||||||||
Stephen L. Johnson | 100,000 | 185,032 | 285,032 | Stephen L. Johnson | 100,000 | 185,047 | 285,047 | ||||||||||||||||||||||
Thomas N. Kelly Jr. | 100,000 | 185,032 | 285,032 | Thomas N. Kelly Jr. | 100,000 | 185,047 | 285,047 | ||||||||||||||||||||||
Katherine Hagedorn Littlefield | 100,000 | 185,032 | 285,032 | Katherine Hagedorn Littlefield | 100,000 | 185,047 | 285,047 | ||||||||||||||||||||||
James F. McCann | 100,000 | 185,032 | 285,032 | ||||||||||||||||||||||||||
James F. McCann(7) | James F. McCann(7) | 25,000 | — | 25,000 | |||||||||||||||||||||||||
Nancy G. Mistretta | 100,000 | 185,032 | 285,032 | Nancy G. Mistretta | 100,000 | 185,047 | 285,047 | ||||||||||||||||||||||
Peter E. Shumlin | 100,000 | 185,032 | 285,032 | Peter E. Shumlin | 100,000 | 185,047 | 285,047 | ||||||||||||||||||||||
John R. Vines | 115,000 | (4) | 220,047 | (7) | 335,047 | John R. Vines | 115,000 | (3) | 220,099 | (6) | 335,099 |
(1) Reflects the |
Name | Aggregate Number of Common Shares Subject to Stock Awards Outstanding as of September 30, | ||||||||
David C. Evans | 5,823 | ||||||||
Brian D. Finn | 9,599 | ||||||||
Adam Hanft (includes RSUs received in connection with consulting agreement) | |||||||||
10,445 | |||||||||
Stephen L. Johnson | 7,206 | ||||||||
Thomas N. Kelly Jr. | 6,417 | ||||||||
Katherine Hagedorn Littlefield | 6,417 | ||||||||
James F. McCann | — | ||||||||
Nancy G. Mistretta | 6,417 | ||||||||
Peter E. Shumlin | 9,599 | ||||||||
John R. Vines | 7,631 |
Name | Age | Position(s) Held | Years with Company | Name | Age | Position(s) Held | Years with Company | |||||||||||||||||||||
Thomas R. Coleman | 49 | Executive Vice President and Chief Financial Officer | 19 | Thomas R. Coleman | 51 | Executive Vice President and Chief Financial Officer | 21 | |||||||||||||||||||||
James D. King | James D. King | 57 | Executive Vice President, Chief Communications Officer | 19 | ||||||||||||||||||||||||
Michael C. Lukemire | 60 | President and Chief Operating Officer | 22 | Michael C. Lukemire | 62 | President and Chief Operating Officer | 24 | |||||||||||||||||||||
Ivan C. Smith | Ivan C. Smith | 51 | Executive Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer | 17 | ||||||||||||||||||||||||
Denise S. Stump | 64 | Executive Vice President, Global Human Resources and Chief Ethics Officer | 18 | Denise S. Stump | 66 | Executive Vice President, Global Human Resources and Chief Ethics Officer | 20 | |||||||||||||||||||||
Ivan C. Smith | 49 | Executive Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer | 15 |
Metric Weighting | Payout Level | Performance Results* | Weighted Payout % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Metric | 50.0% | 100.0% | 150.0% | 200.0% | 250.0% | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-GAAP Adjusted EBITA | 60% | $ | 458.0 | $ | 480.9 | $ | 504.0 | $ | 526.7 | $ | 550.0 | $ | 634.6 | 250.0% | |||||||||||||||||||||||||||||||||||||||
Non-GAAP Free Cash Flow | 40% | $ | 220.0 | $ | 300.0 | $ | 340.0 | $ | 375.0 | $ | 415.0 | $ | 495.3 | 250.0% | |||||||||||||||||||||||||||||||||||||||
Total | 250.0% |
Metric Weighting | Payout Level | Performance Results* | Weighted Payout % | |||||||||||||
Metric | 50.0% | 100.0% | 125.0% | 200.0% | 250.0% | |||||||||||
Non-GAAP Adjusted EBITA | 60% | $424.6 | $487.4 | $496.9 | $514.2 | $550.0 | $380.6 | 0.0% | ||||||||
Non-GAAP Free Cash Flow | 40% | $230.0 | $290.0 | $305.0 | $340.0 | $360.0 | $274.3 | 34.8% | ||||||||
Total | 34.8% | |||||||||||||||
Final Plan Payout (after adjustment) | 50.0% |
Year ended September 30, 2020 | |||||
Net income attributable to controlling interest (GAAP) | $ | 387.4 | |||
Income from discontinued operations, net of tax | (1.7) | ||||
Impairment, restructuring and other charges | 16.8 | ||||
Cost related to refinancing | 15.1 | ||||
Interest expense | 79.6 | ||||
Amortization expense (in SG&A) | 31.5 | ||||
Other non-operating income, net | (20.1) | ||||
Equity in income of unconsolidated affiliates | — | ||||
Income tax expense from continuing operations | 123.7 | ||||
Other | 2.3 | ||||
Adjusted EBITA (Non-GAAP) | $ | 634.6 |
Year ended September 30, 2020 | |||||
Net cash provided by operating activities (GAAP) | $ | 558.0 | |||
Investments in property, plant and equipment | (62.7) | ||||
Free | $ | 495.3 |
Year ended September 30, 2018 | |||
Net income attributable to controlling interest (GAAP) | $ | 63.7 | |
Loss from discontinued operations, net of tax | 63.9 | ||
Impairment, restructuring and other charges | 152.8 | ||
Interest expense | 86.4 | ||
Amortization expense (in SG&A) | 28.9 | ||
Other non-operating expense, net | 1.7 | ||
Equity in income of unconsolidated affiliates | (4.9 | ) | |
Income tax benefit from continuing operations | (11.9 | ) | |
Adjusted EBITA (Non-GAAP) | $ | 380.6 |
Year ended September 30, 2018 | |||
Net cash provided by operating activities (GAAP) | $ | 342.5 | |
Investments in property, plant and equipment | (68.2 | ) | |
Free cash flow (Non-GAAP) | $ | 274.3 |
NEO | 2020 EIP Payout | |||||||||
Mr. Hagedorn | $ | 7,450,820 | ||||||||
Mr. Coleman | $ | 3,182,275 | ||||||||
Mr. Lukemire | $ | 3,273,197 | ||||||||
Ms. Stump | $ | 2,101,844 | ||||||||
Mr. Smith | $ | 1,940,164 |
PFA Performance Period Payout Levels | ||||||||||||||||||||||||||||||||
Metric | Metric Weighting | 50% | 100% | 200% | 250% | |||||||||||||||||||||||||||
Cumulative Non-GAAP Free Cash Flow | 67% | $500.0M | $900.0M | $1.3B | $1.5B | |||||||||||||||||||||||||||
Avg. Annual Calculated Investor Return | 33% | 5.0% | 10.0% | 13.0% | 15.0% |
PFA Performance Period Payout Levels | ||||||||||
Metric | Metric Weighting | 50% | 100% | 200% | 250% | |||||
Cumulative Non-GAAP Free Cash Flow | 67% | $500.0M | $900.0M | $1.3B | $1.5B | |||||
Avg. Annual Calculated Investor Return | 33% | 5.0% | 10.0% | 13.0% | 15.0% |
Metric | Actual to Date | Vs. 5-Year Performance Target | ||||||||||||||||||||||||||||||||||||
2017 | 2018 | 2019 | 2020 | Cumulative | ||||||||||||||||||||||||||||||||||
Cumulative Non-GAAP Free Cash Flow ($M) | $ | 305.2 | $ | 277.2 | $ | 334.1 | $ | 493.6 | $ | 1,410.1 | $ +510.1 | |||||||||||||||||||||||||||
Avg. Annual Calculated Investor Return | 12.1 | % | (3.2 | %) | 22.5 | % | 65.2 | % | 24.2 | % | +14.2% |
2017 | 2018 | 2019 | 2020 | Cumulative | |||||||||||||||||||||||||
Net Cash Provided by Operating Activities (GAAP)($M) | $ | 363.2 | $ | 342.5 | $ | 226.8 | $ | 558.0 | $ | 1,490.5 | |||||||||||||||||||
Investments in property, plant and equipment | (69.6) | (68.2) | (42.4) | (62.7) | (242.9) | ||||||||||||||||||||||||
Impact of litigation settlements (net of potential insurance recovery)* | — | — | 45.4 | — | 45.4 | ||||||||||||||||||||||||
Tax impact on divestiture of the TruGreen investment* | — | — | 99.5 | — | 99.5 | ||||||||||||||||||||||||
Impact of divestitures and accounting changes | 11.6 | 2.9 | 4.8 | (1.7) | 17.6 | ||||||||||||||||||||||||
Non-GAAP Free Cash Flow Result** | $ | 305.2 | $ | 277.2 | $ | 334.1 | $ | 493.6 | $ | 1,410.1 |
Briggs & Stratton Corporation | Central Garden & Pet Company | Church & Dwight Co., Inc. | ||||||
The Clorox Company | Constellation Brands, Inc. | Energizer Holdings, Inc. | ||||||
FMC Corporation | ||||||||
Herbalife Nutrition Ltd. | Masco Corporation | |||||||
Nu Skin Enterprises, Inc. | ||||||||
Pyxus International, Inc. | Revlon, Inc. | |||||||
Rollins, Inc. | RPM International, Inc. | |||||||
The J. M. Smucker Company | ||||||||
Spectrum Brands Holdings, Inc. | The Toro Company | |||||||
Tupperware Brands Corporation | ||||||||
Universal Corporation |
Fixed Elements of Compensation | Variable Elements of Compensation | Total Direct Compensation (TDC)(3) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Bonus | Target Annual Long-Term Incentive Value(2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Base Salary | Other Comp(1) | Fixed % of TDC | Target % | Target $ | Variable % of TDC | ||||||||||||||||||||||||||||||||||||||||||||||||
Mr. Hagedorn | 2020 TDC | $ | 1,200,000 | $ | 1,000,000 | 24% | 175% | $ | 2,100,000 | $ | 5,000,000 | 76% | $ | 9,300,000 | |||||||||||||||||||||||||||||||||||||||
2019 TDC | $ | 1,100,000 | $ | 1,000,000 | 24% | 150% | $ | 1,650,000 | $ | 5,000,000 | 76% | $ | 8,750,000 | ||||||||||||||||||||||||||||||||||||||||
Mr. Coleman | 2020 TDC | $ | 700,000 | $ | 187,500 | 27% | 125% | $ | 875,000 | $ | 1,500,000 | 73% | $ | 3,262,500 | |||||||||||||||||||||||||||||||||||||||
2019 TDC | $ | 700,000 | $ | 187,500 | 28% | 110% | $ | 770,000 | $ | 1,500,000 | 72% | $ | 3,157,500 | ||||||||||||||||||||||||||||||||||||||||
Mr. Lukemire | 2020 TDC | $ | 720,000 | $ | 300,000 | 28% | 125% | $ | 900,000 | $ | 1,750,000 | 72% | $ | 3,670,000 | |||||||||||||||||||||||||||||||||||||||
2019 TDC | $ | 720,000 | $ | 300,000 | 29% | 110% | $ | 792,000 | $ | 1,750,000 | 71% | $ | 3,562,000 | ||||||||||||||||||||||||||||||||||||||||
Ms. Stump | 2020 TDC | $ | 650,000 | $ | 310,000 | 44% | 90% | $ | 585,000 | $ | 620,000 | 56% | $ | 2,165,000 | |||||||||||||||||||||||||||||||||||||||
2019 TDC | $ | 650,000 | $ | 310,000 | 46% | 75% | $ | 487,500 | $ | 620,000 | 54% | $ | 2,067,500 | ||||||||||||||||||||||||||||||||||||||||
Mr. Smith | 2020 TDC | $ | 600,000 | — | 34% | 90% | $ | 540,000 | $ | 620,000 | 66% | $ | 1,760,000 | ||||||||||||||||||||||||||||||||||||||||
2019 TDC | $ | 600,000 | — | 36% | 75% | $ | 450,000 | $ | 620,000 | 64% | $ | 1,670,000 |
Base Salary | Other Comp | Annual Bonus | Target Cash Compensation | Target Annual Long-Term Incentive Value | Target Direct Compensation (TDC) | |||||||||||
Target % | Target $ | |||||||||||||||
Mr. Hagedorn | 2018 TDC | $ | 1,100,000 | $1,000,000 | 120% | $1,320,000 | $3,420,000 | $4,580,000 | $8,000,000 | |||||||
% of TDC | 14% | 13% | 17% | 43% | 57% | |||||||||||
Mr. Coleman | 2018 TDC | $ | 675,000 | — | 75% | $506,250 | $1,181,250 | $1,300,000 | $2,481,250 | |||||||
% of TDC | 27% | 0% | 21% | 48% | 52% | |||||||||||
Mr. Lukemire | 2018 TDC | $ | 700,000 | — | 80% | $560,000 | $1,260,000 | $1,600,000 | $2,860,000 | |||||||
% of TDC | 24% | 0% | 20% | 44% | 56% | |||||||||||
Ms. Stump | 2018 TDC | $ | 575,000 | $310,000 | 65% | $373,750 | $1,258,750 | $620,000 | $1,878,750 | |||||||
% of TDC | 31% | 16% | 20% | 67% | 33% | |||||||||||
Mr. Smith | 2018 TDC | $ | 550,000 | — | 65% | $357,500 | $907,500 | $620,000 | $1,527,500 | |||||||
% of TDC | 36% | 0% | 23% | 59% | 41% |
2018 (.5x TAV) | 2017 (4.0x TAV) | |||||||||||||||||||
Target Annual LTI Value (TAV) | RSU Grant Date Value | PFA Grant Date Value (3.5x TAV) | RSU Grant Date Value (.5x TAV) | Total 2017 Grant Date Value | ||||||||||||||||
Mr. Hagedorn | $ | 4,580,000 | $ | 2,290,049 | $ | 16,030,031 | $ | 2,290,004 | $ | 18,320,035 | ||||||||||
Mr. Coleman | $ | 1,300,000 | $ | 650,008 | $ | 4,550,069 | $ | 650,023 | $ | 5,200,092 | ||||||||||
Mr. Lukemire | $ | 1,600,000 | $ | 1,100,056 | (1) | $ | 5,600,092 | $ | 1,100,047 | $ | 6,700,139 | |||||||||
Ms. Stump | $ | 620,000 | $ | 310,075 | $ | 2,170,060 | $ | 310,089 | $ | 2,480,149 | ||||||||||
Mr. Smith | $ | 620,000 | $ | 310,075 | $ | 2,030,032 | $ | 290,005 | $ | 2,320,037 |
CEO | 10 times base salary | ||||
COO | 5 times base salary | ||||
Other NEOs | 3 times base salary |
Name and Principal Position | Year | Salary ($)(1) | Bonus ($) | Stock Awards ($)(3) | Option Awards ($)(4) | Non-Equity Incentive Plan Compensation ($)(5) | Change in Pension Value and Non-Qualified Deferred Compensation Earnings ($)(6) | All Other Compensation ($)(8) | Total ($)(9) | Name and Principal Position | Year | Salary ($)(1) | Bonus ($) | Stock Awards ($)(2) | Option Awards ($) | Non-Equity Incentive Plan Compensation ($)(3) | Change in Pension Value and Non-Qualified Deferred Compensation Earnings ($)(4) | All Other Compensation ($)(6) | Total ($) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
James Hagedorn Chief Executive Officer and Chairman of the Board | 2018 | 1,100,000 | — | 2,290,049 | — | 660,000 | — | (7) | 1,106,520 | 5,156,569 | James Hagedorn Chief Executive Officer and Chairman of the Board | 2020 | 1,175,000 | — | 2,500,114 | — | 7,450,820 | 39,282 | (5) | 1,124,210 | 12,289,426 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 | 1,100,000 | — | 18,320,035 | — | 1,546,380 | — | (7) | 1,106,615 | 22,073,030 | 2019 | 1,100,000 | — | 2,500,036 | — | 3,158,713 | 55,821 | (5) | 1,107,814 | 7,922,384 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2016 | 1,100,000 | — | 2,290,066 | 1,658,003 | 2,307,888 | 40,261 | (7) | 1,106,248 | 8,502,466 | 2018 | 1,100,000 | — | 2,290,049 | — | 660,000 | — | (5) | 1,106,520 | 5,156,569 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas R. Coleman Executive Vice President and Chief Financial Officer | 2018 | 675,000 | — | 650,008 | — | 253,125 | — | 89,217 | 1,667,350 | Thomas R. Coleman Executive Vice President and Chief Financial Officer | 2020 | 700,000 | — | 750,096 | — | 3,182,275 | — | 344,433 | 4,976,804 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 | 675,000 | — | 5,200,092 | — | 593,072 | — | 89,715 | 6,557,879 | 2019 | 693,750 | — | 750,041 | — | 1,371,021 | — | 210,553 | 3,025,365 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2016 | 568,750 | — | 487,559 | 352,959 | 700,142 | — | 72,885 | 2,182,295 | 2018 | 675,000 | — | 650,008 | — | 253,125 | — | 89,217 | 1,667,350 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Michael C. Lukemire President and Chief Operating Officer | 2018 | 700,000 | — | 1,100,056 | — | 280,000 | — | (7) | 90,851 | 2,170,907 | Michael C. Lukemire President and Chief Operating Officer | 2020 | 720,000 | — | 875,071 | — | 3,273,197 | 3,207 | (5) | 467,787 | 5,339,261 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 | 700,000 | — | 6,700,139 | — | 596,400 | — | (7) | 13,853 | 8,010,392 | 2019 | 715,000 | — | 875,035 | — | 1,478,783 | 4,478 | (5) | 294,723 | 3,368,019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2016 | 687,500 | — | 800,053 | 579,214 | 900,717 | 3,138 | (7) | 91,378 | 3,062,000 | 2018 | 700,000 | — | 1,100,056 | — | 280,000 | — | (5) | 90,851 | 2,170,907 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Denise S. Stump Executive Vice President, Global Human Resources and Chief Ethics Officer | 2018 | 568,750 | — | 310,075 | — | 181,407 | — | 195,141 | 1,255,373 | Denise S. Stump Executive Vice President, Global Human Resources and Chief Ethics Officer | 2020 | 650,000 | — | 310,022 | — | 2,101,844 | — | 422,675 | 3,484,541 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 | 550,000 | — | 2,480,149 | — | 386,595 | — | 191,205 | 3,607,949 | 2019 | 631,250 | — | 310,022 | — | 832,499 | — | 359,115 | 2,132,886 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2016 | 537,500 | 150,000 | (2) | 310,022 | — | 550,233 | — | 415,672 | 1,963,427 | 2018 | 568,750 | — | 310,075 | — | 181,407 | — | 195,141 | 1,255,373 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ivan C. Smith Executive Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer | 2018 | 537,500 | — | 310,075 | — | 171,563 | — | 59,998 | 1,079,136 | Ivan C. Smith Executive Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer | 2020 | 600,000 | — | 310,022 | — | 1,940,164 | — | 102,885 | 2,953,070 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 | 495,000 | — | 2,320,037 | — | 347,936 | — | 65,337 | 3,228,310 | 2019 | 587,500 | — | 310,022 | — | 774,177 | — | 49,316 | 1,721,015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2016 | 472,500 | — | 290,036 | 209,968 | 450,235 | — | 53,524 | 1,476,263 | 2018 | 537,500 | — | 310,075 | — | 171,563 | — | 59,998 | 1,079,136 |
(1) Reflects the amount of base salary received by each NEO for the applicable fiscal years. Due |
The design of the PFAs |
Actual Stock | Target Annual | ||||||||||||||||
Awards ($) | Grant Value ($) | ||||||||||||||||
Name | (per SCT) | (per CD&A) | |||||||||||||||
James Hagedorn | 2,500,114 | 5,000,000 | |||||||||||||||
Thomas R. Coleman | 750,096 | 1,500,000 | |||||||||||||||
Michael C. Lukemire | 875,071 | 1,750,000 | |||||||||||||||
Denise S. Stump | 310,022 | 620,000 | |||||||||||||||
Ivan C. Smith | 310,022 | 620,000 |
Summary | ||||||||||||||
Compensation Table | Less Actual | Normalized | ||||||||||||
Total Comp ($) | Stock Awards ($) | Plus Normalized | Total Annual | |||||||||||
Name | Year | (as reported) | (as reported) | Stock Awards ($) | Comp ($) | |||||||||
James Hagedorn | 2018 | 5,156,569 | (2,290,049 | ) | 5,496,017 | 8,362,537 | ||||||||
2017 | 22,073,030 | (18,320,035 | ) | 5,496,017 | 9,249,012 | |||||||||
2016 | 8,502,466 | (3,948,069 | ) | 3,948,069 | 8,502,466 | |||||||||
Thomas R. Coleman | 2018 | 1,667,350 | (650,008 | ) | 1,560,020 | 2,577,362 | ||||||||
2017 | 6,557,879 | (5,200,092 | ) | 1,560,020 | 2,917,806 | |||||||||
2016 | 2,182,295 | (840,518 | ) | 840,518 | 2,182,295 | |||||||||
Michael C. Lukemire | 2018 | 2,170,907 | (1,100,056 | ) | 2,040,039 | 3,110,890 | ||||||||
2017 | 8,010,392 | (6,700,139 | ) | 2,040,039 | 3,350,292 | |||||||||
2016 | 3,062,000 | (1,379,267 | ) | 1,379,267 | 3,062,000 | |||||||||
Denise S. Stump | 2018 | 1,255,373 | (310,075 | ) | 744,045 | 1,689,343 | ||||||||
2017 | 3,607,949 | (2,480,149 | ) | 744,045 | 1,871,845 | |||||||||
2016 | 1,963,427 | (310,022 | ) | 310,022 | 1,963,427 | |||||||||
Ivan C. Smith | 2018 | 1,079,136 | (310,075 | ) | 712,022 | 1,481,084 | ||||||||
2017 | 3,228,310 | (2,320,037 | ) | 712,022 | 1,620,295 | |||||||||
2016 | 1,476,263 | (500,004 | ) | 500,004 | 1,476,263 |
Name | Defined Contribution Plans ($)(1) | Deferred Compensation Plans ($)(2) | Total ($) | Name | Defined Contribution Plans ($)(1) | Deferred Compensation Plans ($)(2) | Total ($) | ||||||||||||||||||||||||
James Hagedorn | 19,250 | 1,087,270 | (3) | 1,106,520 | James Hagedorn | 21,375 | 1,102,835 | (3) | 1,124,210 | ||||||||||||||||||||||
Thomas R. Coleman | 19,213 | 70,004 | 89,217 | Thomas R. Coleman | 22,445 | 321,989 | (3) | 344,433 | |||||||||||||||||||||||
Michael C. Lukemire | 18,997 | 71,854 | 90,851 | Michael C. Lukemire | 23,878 | 443,909 | (3) | 467,787 | |||||||||||||||||||||||
Denise S. Stump | 19,250 | 175,891 | (4) | 195,141 | Denise S. Stump | 22,425 | 400,250 | (3) | 422,675 | ||||||||||||||||||||||
Ivan C. Smith | 19,419 | 40,579 | 59,998 | Ivan C. Smith | 20,623 | 82,261 | (3) | 102,885 |
ERP Match | SRA Contribution | Total | ||||||||||||||||||
James Hagedorn | $ | 102,835 | $ | 1,000,000 | $ | 1,102,835 | ||||||||||||||
Thomas R. Coleman | 134,489 | 187,500 | 321,989 | |||||||||||||||||
Michael C. Lukemire | 143,909 | 300,000 | 443,909 | |||||||||||||||||
Denise S. Stump | 90,250 | 310,000 | 400,250 | |||||||||||||||||
Ivan C. Smith | 82,261 | — | 82,261 |
Name | Grant Date(1) | Payouts Under Non-Equity Incentive Plan Awards(2) | Payouts Under Equity Incentive Plan Awards(3) | Number of Shares of Stock or Units (#) | Value of Stock and Option Awards ($)(5) | Name | Grant Date(1) | Payouts Under Non-Equity Incentive Plan Awards (2) | Payouts Under Equity Incentive Plan Awards | All Other Stock Awards: Number of Shares of Stock or Units (#) | Grant Date Fair Value of Stock Awards (#)(3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Threshold ($) | Target ($) | Maximum ($) | Threshold (shares) | Target (shares) | Maximum (shares) | Threshold ($) | Target ($) | Maximum ($) | Threshold (shares) | Target (shares) | Maximum (shares) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
James Hagedorn | James Hagedorn | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSUs | 2/2/2018 | — | — | — | 25,310 | 2,290,049 | RSUs | 2/3/2020 | — | — | — | 20,185 | 2,500,114 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EIP | 660,000 | 1,320,000 | 3,300,000 | — | — | — | EIP | 993,443 | 1,986,885 | 4,967,213 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas R. Coleman | Thomas R. Coleman | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSUs | 2/2/2018 | — | — | — | 7,184 | 650,008 | RSUs | 2/3/2020 | — | — | — | 6,056 | 750,096 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EIP | 253,125 | 506,250 | 1,265,625 | — | — | — | EIP | 424,304 | 848,607 | 2,121,518 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Michael C. Lukemire | Michael C. Lukemire | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSUs | 2/2/2018 | — | — | — | 8,842 | 800,024 | RSUs | 2/3/2020 | — | — | — | 7,065 | 875,071 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSUs | 2/2/2018 | — | — | — | 3,316 | (4) | 300,032 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EIP | 280,000 | 560,000 | 1,400,000 | — | — | — | EIP | 436,426 | 872,852 | 2,182,130 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Denise S. Stump | Denise S. Stump | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSUs | 2/2/2018 | — | — | — | 3,427 | 310,075 | RSUs | 2/3/2020 | — | — | — | 2,503 | 310,022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EIP | 181,406 | 362,813 | 907,031 | — | — | — | EIP | 280,246 | 560,492 | 1,401,230 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ivan C. Smith | Ivan C. Smith | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RSUs | 2/2/2018 | — | — | — | 3,427 | 310,075 | RSUs | 2/3/2020 | — | — | — | 2,503 | 310,022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
EIP | 171,563 | 343,125 | 857,813 | — | — | — | EIP | 258,689 | 517,377 | 1,293,443 | — | — | — |
Option Awards | Stock Awards | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | Grant Date | Number of Securities Underlying Unexercised Options Exercisable (#)(1) | Number of Securities Underlying Unexercised Options Unexercisable (#)(1) | Option Exercise Price ($)(2) | Option Expiration Date | Number of Shares or Units That Have Not Vested (#)(3) | Market Value of Shares or Units That Have Not Vested ($)(4) | Equity Incentive Plan Awards: Number of Unearned Shares or Units That Have Not Vested (#)(5)(6) | Equity Incentive Plan Awards: Market or Payout Value Of Unearned Shares or Units That Have Not Vested ($)(7) | ||||||||||||||||||||||||||||||||||||||||||||||||||
James Hagedorn | 1/20/2012 | 127,994 | 42.60 | 1/19/2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
1/30/2015 | 142,733 | 59.62 | 1/30/2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1/29/2016 | 143,079 | 64.55 | 1/29/2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1/30/2017 | 431,008 | 65,905,433 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/2/2018 | 25,310 | 3,870,152 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/4/2019 | 32,982 | 5,043,278 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/3/2020 | 20,185 | 3,086,488 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas R. Coleman | 1/30/2017 | 122,340 | 18,707,009 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/2/2018 | 7,184 | 1,098,505 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/4/2019 | 9,895 | 1,513,044 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/3/2020 | 6,056 | 926,023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Michael C. Lukemire | 1/29/2016 | 49,983 | 64.55 | 1/29/2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
1/30/2017 | 150,573 | 23,024,117 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/2/2018 | 8,842 | 1,352,030 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/2/2018 | 3,316 | 507,050 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/4/2019 | 11,544 | 1,765,193 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/3/2020 | 7,065 | 1,080,309 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Denise S. Stump | 1/30/2017 | 58,348 | 8,921,993 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/2/2018 | 3,427 | 524,023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/4/2019 | 4,090 | 625,402 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/3/2020 | 2,503 | 382,734 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ivan C. Smith | 1/30/2017 | 54,583 | 8,346,287 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/2/2018 | 3,427 | 524,023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/4/2019 | 4,090 | 625,402 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/3/2020 | 2,503 | 382,734 |
Option Awards | Stock Awards | ||||||||||||||||||||||||
Name | Grant Date | Number of Securities Underlying Unexercised Options Exercisable (#)(1) | Number of Securities Underlying Unexercised Options Unexercisable (#)(1) | Option Exercise Price ($)(2) | Option Expiration Date | Number of Shares or Units That Have Not Vested (#)(3) | Market Value of Shares or Units That Have Not Vested ($)(4) | Equity Incentive Plan Awards: Number of Unearned Shares or Units That Have Not Vested (#)(5) | Equity Incentive Plan Awards: Market or Payout Value Of Unearned Shares or Units That Have Not Vested ($)(7) | ||||||||||||||||
James Hagedorn | 1/20/2010 | 85,444 | 39.58 | 1/17/2020 | |||||||||||||||||||||
1/21/2011 | 123,991 | 49.19 | 1/20/2021 | ||||||||||||||||||||||
1/20/2012 | 120,288 | 45.32 | 1/19/2022 | ||||||||||||||||||||||
1/30/2015 | 134,139 | 63.43 | 1/30/2025 | ||||||||||||||||||||||
1/29/2016 | 134,469 | 68.68 | 1/29/2026 | 33,344 | 2,625,173 | ||||||||||||||||||||
1/30/2017 | 24,629 | 1,939,041 | 293,085 | (6) | 23,074,582 | ||||||||||||||||||||
2/2/2018 | 25,310 | 1,992,656 | |||||||||||||||||||||||
Thomas R. Coleman | 1/30/2015 | 27,666 | 63.43 | 1/30/2025 | |||||||||||||||||||||
1/29/2016 | 28,626 | 68.68 | 1/29/2026 | 7,099 | 558,904 | ||||||||||||||||||||
1/30/2017 | 6,991 | 550,401 | 83,191 | (6) | 6,549,627 | ||||||||||||||||||||
2/2/2018 | 7,184 | 565,596 | |||||||||||||||||||||||
Michael C. Lukemire | 1/20/2010 | 13,363 | 39.58 | 1/17/2020 | |||||||||||||||||||||
1/21/2011 | 9,788 | 49.19 | 1/20/2021 | ||||||||||||||||||||||
1/20/2012 | 9,813 | 45.32 | 1/19/2022 | ||||||||||||||||||||||
1/30/2015 | 50,302 | 63.43 | 1/30/2025 | ||||||||||||||||||||||
1/29/2016 | 46,976 | 68.68 | 1/29/2026 | 11,649 | 917,126 | ||||||||||||||||||||
1/30/2017 | 11,831 | 931,455 | 102,389 | (6) | 8,061,086 | ||||||||||||||||||||
2/2/2018 | 3,316 | 261,069 | |||||||||||||||||||||||
2/2/2018 | 8,842 | 696,131 | |||||||||||||||||||||||
Denise S. Stump | 1/20/2010 | 11,575 | 39.58 | 1/17/2020 | |||||||||||||||||||||
1/21/2012 | 9,529 | 45.32 | 1/19/2022 | ||||||||||||||||||||||
1/29/2016 | 4,514 | 355,387 | |||||||||||||||||||||||
1/30/2017 | 3,335 | 262,565 | 39,676 | (6) | 3,123,691 | ||||||||||||||||||||
2/2/2018 | 3,427 | 269,808 | |||||||||||||||||||||||
Ivan C. Smith | 1/30/2015 | 16,097 | 63.43 | 1/30/2025 | |||||||||||||||||||||
1/29/2016 | 17,029 | 68.68 | 1/29/2026 | 4,223 | 332,477 | ||||||||||||||||||||
1/30/2017 | 3,119 | 245,559 | 37,116 | (6) | 2,922,143 | ||||||||||||||||||||
2/2/2018 | 3,427 | 269,808 |
Award Type | Grant Date | Normal Vesting Date | Vesting Schedule Notes | ||||||||
RSUs | 2/2/2018 | 2/2/2021 | Vests on the third anniversary of the grant date |
RSUs | 2/4/2019 | 2/4/2022 | Vests on the third anniversary of the grant date | ||||||||
2/3/2023 | Vests on the |
NEO | PFA Payout Assuming a Target Level of Achievement | PFA Payout Assuming a Probable Level of Achievement as of September 30, 2020 (250% of Target Payout) | ||||||||||||
James Hagedorn | 172,403 | 431,008 | ||||||||||||
Thomas R. Coleman | 48,936 | 122,340 | ||||||||||||
Michael C. Lukemire | 60,229 | 150,573 | ||||||||||||
Denise S. Stump | 23,339 | 58,348 | ||||||||||||
Ivan C. Smith | 21,833 | 54,583 |
NEO | Original Target Shares Granted | Shares assuming probable payout as of September 30, 2018 | |||
James Hagedorn | 172,403 | 293,085 | |||
Thomas R. Coleman | 48,936 | 83,191 | |||
Michael C. Lukemire | 60,229 | 102,389 | |||
Denise S. Stump | 23,339 | 39,676 | |||
Ivan C. Smith | 21,833 | 37,116 |
Option Awards | Stock Awards | Option Awards | Stock Awards | |||||||||||||||||||||||||||||||||||
Name | Number of Shares Acquired on Exercise (#) | Value Realized on Exercise ($)(1) | Number of Shares Acquired on Vesting (#)(2) | Value Realized on Vesting ($)(3) | Name | Number of Shares Acquired on Exercise (#) | Value Realized on Exercise ($)(1) | Number of Shares Acquired on Vesting (#)(2) | Value Realized on Vesting ($)(3) | |||||||||||||||||||||||||||||
James Hagedorn | 210,386 | 13,150,586 | 31,531 | 2,899,591 | James Hagedorn | 123,991 | 11,072,148 | 24,629 | 2,975,676 | |||||||||||||||||||||||||||||
Thomas R. Coleman | — | — | 6,504 | 598,108 | Thomas R. Coleman | — | — | 6,991 | 844,653 | |||||||||||||||||||||||||||||
Michael C. Lukemire | — | — | 11,825 | 1,087,427 | Michael C. Lukemire | 69,903 | 4,899,423 | 11,831 | 1,429,421 | |||||||||||||||||||||||||||||
Denise S. Stump | — | — | — | — | Denise S. Stump | 9,529 | 823,996 | 3,335 | 402,935 | |||||||||||||||||||||||||||||
Ivan C. Smith | 4,587 | 235,565 | 3,784 | 347,977 | Ivan C. Smith | — | — | 3,119 | 376,838 |
(1) The value realized on exercise of NSOs is calculated based on the excess of the closing price of our Common Shares on the date of exercise over the exercise price of the NSO, multiplied by the number of Common Shares acquired upon exercise. |
Name | Plan Name | Number of Years Credited Service (#)(1) | Present Value of Accumulated Benefit ($)(2) | Name | Plan Name | Number of Years Credited Service (#)(1) | Present Value of Accumulated Benefit ($)(2) | |||||||||||||||||||||
James Hagedorn | The Scotts Company LLC Associates’ Pension Plan | 9.9167 | 264,141 | James Hagedorn | The Scotts Company LLC Associates’ Pension Plan | 9.9167 | 343,294 | |||||||||||||||||||||
The Scotts Company LLC Excess Benefit Plan For Non Grandfathered Associates | 2.0000 | 50,707 | The Scotts Company LLC Excess Benefit Plan For Non Grandfathered Associates | 2.0000 | 66,658 | |||||||||||||||||||||||
Total | 314,848 | Total | 409,952 | |||||||||||||||||||||||||
Michael C. Lukemire | The Scotts Company LLC Associates’ Pension Plan | 0.9167 | 20,733 | Michael C. Lukemire | The Scotts Company LLC Associates’ Pension Plan | 0.9167 | 28,417 |
Name | Executive Contributions in Last Fiscal Year ($)(1) | Company Contributions in Last Fiscal Year ($)(2) | Aggregate Earnings in Last Fiscal Year ($)(5) | Aggregate Withdrawals/ Distributions ($) | Aggregate Balance at Last Fiscal Year End ($)(6) | Name | Executive Contributions in Last Fiscal Year ($)(1) | Company Contributions in Last Fiscal Year ($)(2) | Aggregate Earnings in Last Fiscal Year ($)(4) | Aggregate Withdrawals/ Distributions ($) | Aggregate Balance at Last Fiscal Year End ($)(5) | ||||||||||||||||||||||||||||||||||||
James Hagedorn | 57,884 | 1,087,270 | (3) | (1,534,519 | ) | — | 9,436,295 | James Hagedorn | 61,311 | 1,102,835 | (3) | 7,641,406 | — | 22,450,024 | |||||||||||||||||||||||||||||||||
Thomas R. Coleman | 126,825 | 70,004 | 182,115 | — | 1,415,196 | Thomas R. Coleman | 203,636 | 321,989 | (3) | 122,003 | — | 2,387,042 | |||||||||||||||||||||||||||||||||||
Michael C. Lukemire | 108,624 | 71,854 | 152,025 | — | 1,780,754 | Michael C. Lukemire | 210,003 | 443,909 | (3) | 395,341 | — | 3,211,750 | |||||||||||||||||||||||||||||||||||
Denise S. Stump | 55,042 | 175,891 | (4) | 233,842 | — | 2,597,304 | Denise S. Stump | 159,323 | 400,250 | (3) | 1,171,162 | (58) | 4,924,820 | ||||||||||||||||||||||||||||||||||
Ivan C. Smith | 209,623 | 40,579 | 200,647 | — | 1,452,321 | Ivan C. Smith | 157,079 | 82,261 | (3) | 377,122 | — | 2,289,288 |
ERP Match | SRA Contribution | Total | ||||||||||||||||||
James Hagedorn | $ | 102,835 | $ | 1,000,000 | $ | 1,102,835 | ||||||||||||||
Thomas R. Coleman | 134,489 | 187,500 | 321,989 | |||||||||||||||||
Michael C. Lukemire | 143,909 | 300,000 | 443,909 | |||||||||||||||||
Denise S. Stump | 90,250 | 310,000 | 400,250 | |||||||||||||||||
Ivan C. Smith | 82,261 | — | 82,261 |
Prior to CIC | Within 2 Years Following CIC | |||||||||||||||||||
Involuntary Without Cause or Voluntary With Good Reason | Due to Death or Disability | Involuntary Without Cause or Voluntary With Good Reason | ||||||||||||||||||
Salary Continuation: | ||||||||||||||||||||
CEO | 3x base salary (lump sum) | None | 3x base salary (lump sum) | |||||||||||||||||
All Other NEOs | 2x base salary | None* | 2x base salary (lump sum) | |||||||||||||||||
Annual Incentive: | ||||||||||||||||||||
CEO | 3x highest bonus paid in prior | None | 3x highest bonus paid in prior | |||||||||||||||||
All Other NEOs | 2x target bonus | None* | 2x target bonus plus prorated annual bonus (lump sum) | |||||||||||||||||
Welfare Benefits: | ||||||||||||||||||||
CEO | Coverage ends and CEO receives lump sum payment equal to the equivalent monthly premiums to continue medical, disability and life insurance for a period of | None | Coverage ends and CEO receives lump sum payment equal to the equivalent monthly premiums to continue medical, disability and life insurance for a period of | |||||||||||||||||
All Other NEOs | Coverage ends and NEO receives Benefits Offset Payment for 24 months | None* | Coverage ends and NEO receives lump sum payment equal to Benefits Offset Payment for 24 months | |||||||||||||||||
Non-Compete Payments: | ||||||||||||||||||||
CEO | $3.6 million, payable in $100,000 monthly installments | None | $3.6 million, payable in $100,000 monthly installments | |||||||||||||||||
All other NEOs | No additional compensation provided | None | No additional compensation provided |
* The Stump Retention Agreement provides for certain payments to Ms. Stump in the event of termination due to Disability or Retirement as described above. |
Termination Due to: | Treatment of Unvested NSOs, RSUs, PUs and PFAs | |||||||
Retirement | NSOs, RSUs, PUs: Vest on date of termination (PUs remain subject to the achievement of performance criteria) PFAs: Partial vesting subject to achievement of performance criteria | |||||||
Death or Disability | NSOs, RSUs, PUs: Vest on date of termination PFAs: Partial vesting on date of termination | |||||||
For Cause | NSOs, RSUs, PUs and PFAs: Forfeited on date of termination | |||||||
Any Other Reason | NSOs, RSUs, PUs: Forfeited on date of termination PFAs: Partial vesting after month 36 of the vesting period, subject to achievement of performance criteria; otherwise forfeited | |||||||
Subsequent to Change in Control | NSOs, RSUs, PUs: Generally vest on date of termination following a CIC, as described below PFAs: Vest on date of CIC subject to achievement of performance criteria |
Termination Prior to CIC | Following CIC(1) | Termination Prior to CIC | Following CIC(1) | |||||||||||||||||||||||||||||||||||||||||||
Executive Benefits and Payments Upon Termination | Involuntary Without Cause or Voluntary With Good Reason | Termination Due to Death or Disability | Involuntary Without Cause or Voluntary With Good Reason | CIC Only | Executive Benefits and Payments Upon Termination | Involuntary Without Cause or Voluntary With Good Reason | Termination Due to Death or Disability | Involuntary Without Cause or Voluntary With Good Reason | CIC Only | |||||||||||||||||||||||||||||||||||||
Compensation (2): | Compensation (2): | |||||||||||||||||||||||||||||||||||||||||||||
Base Salary (3x annual base salary) | $ | 3,300,000 | $ | — | $ | 3,300,000 | $ | — | Base Salary (3x annual base salary) | $ | 3,600,000 | $ | — | $ | 3,600,000 | $ | — | |||||||||||||||||||||||||||||
EIP (3) | 6,923,664 | — | 6,923,664 | — | ||||||||||||||||||||||||||||||||||||||||||
EIP — Prorated Annual Payout (3) | EIP — Prorated Annual Payout (3) | 2,100,000 | 2,100,000 | 2,100,000 | ||||||||||||||||||||||||||||||||||||||||||
EIP — Payout (4) | EIP — Payout (4) | 22,352,460 | — | 22,352,460 | — | |||||||||||||||||||||||||||||||||||||||||
Equity-Based Compensation: | Equity-Based Compensation: | |||||||||||||||||||||||||||||||||||||||||||||
Stock Options: | Stock Options: | |||||||||||||||||||||||||||||||||||||||||||||
Unvested and accelerated | 1,351,413 | (4) | 1,351,413 | (4) | 1,351,413 | (4) | — | Unvested and accelerated | — | — | — | — | ||||||||||||||||||||||||||||||||||
Restricted Stock Units: | Restricted Stock Units: | |||||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | 3,931,697 | (5) | 3,931,697 | (5) | 3,931,697 | (5) | — | Unvested and Accelerated | 11,999,918 | (5) | 11,999,918 | (5) | 11,999,918 | (5) | — | |||||||||||||||||||||||||||||||
Dividend Equivalents | 117,723 | (6) | 117,723 | (6) | 117,723 | (6) | — | Dividend Equivalents | 718,483 | (6) | 718,483 | (6) | 718,483 | (6) | — | |||||||||||||||||||||||||||||||
Performance Units: | Performance Units: | |||||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | 2,625,173 | (7) | 2,625,173 | (7) | 2,625,173 | (7) | — | Unvested and Accelerated | — | — | — | — | ||||||||||||||||||||||||||||||||||
Dividend Equivalents | 171,388 | (8) | 171,388 | (8) | 171,388 | (8) | — | Dividend Equivalents | — | — | — | — | ||||||||||||||||||||||||||||||||||
Project Focus Awards: | Project Focus Awards: | |||||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | 6,599,306 | (9) | 6,599,306 | (9) | 18,378,180 | (11) | 18,378,180 | (11) | Unvested and Accelerated | 37,631,916 | (7) | 37,631,916 | (7) | 65,905,433 | (9) | 65,905,433 | (9) | |||||||||||||||||||||||||||||
Dividend Equivalents | 307,627 | (10) | 307,627 | (10) | 856,699 | (12) | 856,699 | (12) | Dividend Equivalents | 3,263,352 | (8) | 3,263,352 | (8) | 5,715,166 | (10) | 5,715,166 | (10) | |||||||||||||||||||||||||||||
Benefits and Perquisites: | Benefits and Perquisites: | |||||||||||||||||||||||||||||||||||||||||||||
Health & Welfare Benefits (13) | 59,489 | — | 59,489 | — | ||||||||||||||||||||||||||||||||||||||||||
Health & Welfare Benefits (11) | Health & Welfare Benefits (11) | 60,326 | — | 60,326 | — | |||||||||||||||||||||||||||||||||||||||||
Accrued Retirement Benefits (vested): | Accrued Retirement Benefits (vested): | |||||||||||||||||||||||||||||||||||||||||||||
Associates’ Pension Plan (14) | 264,141 | 264,141 | 264,141 | — | ||||||||||||||||||||||||||||||||||||||||||
Excess Benefit Plan (14) | 50,707 | 50,707 | 50,707 | — | ||||||||||||||||||||||||||||||||||||||||||
RSP (14) | 3,562,952 | 3,562,952 | 3,562,952 | — | ||||||||||||||||||||||||||||||||||||||||||
ERP (14) | 9,436,295 | 9,436,295 | 9,436,295 | — | ||||||||||||||||||||||||||||||||||||||||||
Associates’ Pension Plan (12) | Associates’ Pension Plan (12) | 343,294 | 343,294 | 343,294 | — | |||||||||||||||||||||||||||||||||||||||||
Excess Benefit Plan (12) | Excess Benefit Plan (12) | 66,658 | 66,658 | 66,658 | — | |||||||||||||||||||||||||||||||||||||||||
ERP (12) | ERP (12) | 22,450,024 | 22,450,024 | 22,450,024 | — | |||||||||||||||||||||||||||||||||||||||||
Other Payments: | Other Payments: | |||||||||||||||||||||||||||||||||||||||||||||
Non-Compete Payments (15) | 3,600,000 | — | 3,600,000 | — | ||||||||||||||||||||||||||||||||||||||||||
Non-Compete Payments (13) | Non-Compete Payments (13) | 3,600,000 | — | 3,600,000 | — | |||||||||||||||||||||||||||||||||||||||||
Total: | $ | 42,301,575 | $ | 28,418,422 | $ | 54,629,521 | $ | 19,234,879 | Total: | $ | 108,186,431 | $ | 78,573,645 | $ | 138,911,762 | $ | 71,620,599 |
Executive Benefits and Payments Upon Termination | Mr. Coleman | Mr. Lukemire | Ms. Stump | Mr. Smith | Executive Benefits and Payments Upon Termination | Mr. Coleman | Mr. Lukemire | Ms. Stump | Mr. Smith | |||||||||||||||||||||||||||||||||||||
Compensation (1): | Compensation (1): | |||||||||||||||||||||||||||||||||||||||||||||
Base Salary (2x annual base salary) | $ | 1,350,000 | $ | 1,400,000 | $ | 1,150,000 | $ | 1,100,000 | Base Salary (2x annual base salary) | $ | 1,400,000 | $ | 1,440,000 | $ | 1,300,000 | $ | 1,200,000 | |||||||||||||||||||||||||||||
EIP — Prorated Annual Payout | — | 560,000 | (2) | 373,750 | (2) | — | EIP — Prorated Annual Payout | — | 900,000 | (2) | 585,000 | (2) | — | |||||||||||||||||||||||||||||||||
EIP — Target Payout (2x target amount) | 1,012,500 | 1,120,000 | 747,500 | 715,000 | ||||||||||||||||||||||||||||||||||||||||||
EIP — Target Payout (2x target amount)(3) | EIP — Target Payout (2x target amount)(3) | 1,750,000 | 1,800,000 | 1,170,000 | 1,080,000 | |||||||||||||||||||||||||||||||||||||||||
Equity-Based Compensation: | Equity-Based Compensation: | |||||||||||||||||||||||||||||||||||||||||||||
Stock Options: | Stock Options: | |||||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | — | 472,109 | (3) | — | — | Unvested and Accelerated | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Restricted Stock Units: | Restricted Stock Units: | |||||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | — | 1,888,654 | (4) | 887,759 | (4) | — | Unvested and Accelerated | 1,098,505 | (4) | 4,704,582 | (5) | 1,532,158 | (5) | 524,023 | (4) | |||||||||||||||||||||||||||||||
Accrued Dividends | — | 88,040 | (5) | 43,080 | (5) | — | Accrued Dividends | 80,461 | (6) | 288,428 | (7) | 92,326 | (7) | 38,382 | (6) | |||||||||||||||||||||||||||||||
Performance Units: | Performance Units: | |||||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | — | 917,126 | (6) | — | — | Unvested and Accelerated | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Dividend Equivalents | — | 59,876 | (7) | — | — | Dividend Equivalents | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Project Focus Awards: | Project Focus Awards: | |||||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | — | 2,305,451 | (8) | 893,349 | (8) | — | ||||||||||||||||||||||||||||||||||||||||
Dividend Equivalents | — | 107,469 | (9) | 41,643 | (9) | — | ||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (8) | Unvested and Accelerated (8) | 2,675,160 | 13,146,743 | 5,094,350 | 1,193,463 | |||||||||||||||||||||||||||||||||||||||||
Dividend Equivalents (9) | Dividend Equivalents (9) | 231,984 | 1,140,055 | 441,770 | 103,494 | |||||||||||||||||||||||||||||||||||||||||
Benefits and Perquisites: | Benefits and Perquisites: | |||||||||||||||||||||||||||||||||||||||||||||
Benefits Offset Payment (10) | 22,357 | 18,354 | 9,005 | 23,329 | Benefits Offset Payment (10) | 32,052 | 25,828 | 25,834 | 33,225 | |||||||||||||||||||||||||||||||||||||
Accrued Retirement Benefits: | Accrued Retirement Benefits: | |||||||||||||||||||||||||||||||||||||||||||||
Associates’ Pension Plan (11) | — | 20,733 | — | — | Associates’ Pension Plan (11) | — | 28,417 | — | — | |||||||||||||||||||||||||||||||||||||
RSP (11) | 1,121,694 | 1,187,011 | 1,556,581 | 1,184,327 | ||||||||||||||||||||||||||||||||||||||||||
ERP (11) | 1,415,196 | 1,780,754 | 2,597,304 | 1,452,231 | ERP (11) | 2,387,042 | 3,211,750 | 4,924,820 | 2,289,288 | |||||||||||||||||||||||||||||||||||||
Total: | $ | 4,921,747 | $ | 11,925,577 | $ | 8,299,971 | $ | 4,474,887 | Total: | $ | 9,655,204 | $ | 26,685,803 | $ | 15,166,258 | $ | 6,461,875 |
Executive Benefits and Payments Upon Termination | Mr. Coleman | Mr. Lukemire | Ms. Stump | Mr. Smith | Executive Benefits and Payments Upon Termination | Mr. Coleman | Mr. Lukemire | Ms. Stump | Mr. Smith | |||||||||||||||||||||||||||||||||
Compensation (1): | Compensation (1): | |||||||||||||||||||||||||||||||||||||||||
Base Salary | $ | — | $ | — | $ | 1,150,000 | (2) | $ | — | Base Salary | $ | — | $ | — | $ | 1,300,000 | (2) | $ | — | |||||||||||||||||||||||
EIP — Prorated Annual Payout (3) | 506,250 | 560,000 | 373,750 | 357,500 | EIP — Prorated Annual Payout (3) | 875,000 | 900,000 | 585,000 | 540,000 | |||||||||||||||||||||||||||||||||
EIP — Target Payout (2x target amount) | — | — | 747,500 | (2) | — | EIP — Target Payout (2x target amount) | — | — | 1,170,000 | (4) | — | |||||||||||||||||||||||||||||||
Equity-Based Compensation: | Equity-Based Compensation: | |||||||||||||||||||||||||||||||||||||||||
Stock Options: | Stock Options: | |||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (4) | 287,691 | 472,109 | — | 171,141 | ||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | Unvested and Accelerated | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Restricted Stock Units: | Restricted Stock Units: | |||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (5) | 1,115,998 | 1,888,654 | 887,759 | 515,367 | Unvested and Accelerated (5) | 3,537,573 | 4,704,582 | 1,532,158 | 1,532,158 | |||||||||||||||||||||||||||||||||
Accrued Dividends (6) | 37,223 | 88,040 | 43,080 | 16,964 | Accrued Dividends (6) | 210,972 | 288,428 | 92,326 | 92,326 | |||||||||||||||||||||||||||||||||
Performance Units: | Performance Units: | |||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | Unvested and Accelerated | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Dividend Equivalents | Dividend Equivalents | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Project Focus Awards: | Project Focus Awards: | |||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (7) | 558,904 | 917,126 | — | 332,477 | Unvested and Accelerated (7) | 5,492,374 | 13,146,743 | 5,094,350 | 2,450,383 | |||||||||||||||||||||||||||||||||
Dividend Equivalents (8) | 39,825 | 59,876 | — | 23,691 | Dividend Equivalents (8) | 476,286 | 1,140,055 | 441,770 | 212,492 | |||||||||||||||||||||||||||||||||
Project Focus Awards: | ||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (9) | 1,282,905 | 2,305,451 | 893,349 | 572,367 | ||||||||||||||||||||||||||||||||||||||
Dividend Equivalents (10) | 59,803 | 107,469 | 41,643 | 26,681 | ||||||||||||||||||||||||||||||||||||||
Benefits and Perquisites: | Benefits and Perquisites: | |||||||||||||||||||||||||||||||||||||||||
Benefits Offset Payment | — | — | 9,005 | (2) | — | Benefits Offset Payment | — | — | 25,834 | (9) | — | |||||||||||||||||||||||||||||||
Accrued Retirement Benefits: | Accrued Retirement Benefits: | |||||||||||||||||||||||||||||||||||||||||
Associates’ Pension Plan (11) | — | 20,733 | — | — | ||||||||||||||||||||||||||||||||||||||
RSP (11) | 1,121,694 | 1,187,011 | 1,556,581 | 1,184,327 | ||||||||||||||||||||||||||||||||||||||
ERP (11) | 1,415,196 | 1,780,754 | 2,597,304 | 1,452,231 | ||||||||||||||||||||||||||||||||||||||
Associates’ Pension Plan (10) | Associates’ Pension Plan (10) | — | 28,417 | — | — | |||||||||||||||||||||||||||||||||||||
ERP (10) | ERP (10) | 2,387,042 | 3,211,750 | 4,924,820 | 2,289,288 | |||||||||||||||||||||||||||||||||||||
Total: | $ | 6,425,489 | $ | 9,387,223 | $ | 8,299,971 | $ | 4,652,746 | Total: | $ | 12,979,247 | $ | 23,419,975 | $ | 15,166,258 | $ | 7,116,647 |
Executive Benefits and Payments Upon Termination | Mr. Coleman | Mr. Lukemire | Ms. Stump | Mr. Smith | Executive Benefits and Payments Upon Termination | Mr. Coleman | Mr. Lukemire | Ms. Stump | Mr. Smith | |||||||||||||||||||||||||||||||||
Compensation (1): | Compensation (1): | |||||||||||||||||||||||||||||||||||||||||
Base Salary (2x annual base salary) | $ | 1,350,000 | $ | 1,400,000 | $ | 1,150,000 | $ | 1,100,000 | Base Salary (2x annual base salary) | $ | 1,400,000 | $ | 1,440,000 | $ | 1,300,000 | $ | 1,200,000 | |||||||||||||||||||||||||
EIP — Prorated Annual Payout (2) | 506,250 | 560,000 | 373,750 | 357,500 | EIP — Prorated Annual Payout (2) | 875,000 | 900,000 | 585,000 | 540,000 | |||||||||||||||||||||||||||||||||
EIP — Target Payout (2x target amount) (3) | 1,012,500 | 1,120,000 | 747,500 | 715,000 | EIP — Target Payout (2x target amount) (3) | 1,750,000 | 1,800,000 | 1,170,000 | 1,080,000 | |||||||||||||||||||||||||||||||||
Equity-Based Compensation: | Equity-Based Compensation: | |||||||||||||||||||||||||||||||||||||||||
Stock Options: | Stock Options: | |||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | Unvested and Accelerated | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Restricted Stock Units: | Restricted Stock Units: | |||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (4) | 287,691 | 472,109 | — | 171,141 | Unvested and Accelerated (4) | 3,537,573 | 4,704,582 | 1,532,158 | 1,532,158 | |||||||||||||||||||||||||||||||||
Restricted Stock Units: | ||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (5) | 1,115,998 | 1,888,654 | 887,759 | 515,367 | ||||||||||||||||||||||||||||||||||||||
Accrued Dividends (6) | 37,223 | 88,040 | 43,080 | 16,964 | ||||||||||||||||||||||||||||||||||||||
Accrued Dividends (5) | Accrued Dividends (5) | 210,972 | 288,428 | 92,326 | 92,326 | |||||||||||||||||||||||||||||||||||||
Performance Units: | Performance Units: | |||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (7) | 558,904 | 917,126 | — | 332,477 | ||||||||||||||||||||||||||||||||||||||
Dividend Equivalents (8) | 39,825 | 59,876 | — | 23,691 | ||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | Unvested and Accelerated | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Dividend Equivalents | Dividend Equivalents | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Project Focus Awards: | Project Focus Awards: | |||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (9) | 5,216,571 | 6,420,432 | 2,487,947 | 2,327,338 | ||||||||||||||||||||||||||||||||||||||
Dividend Equivalents (10) | 243,171 | 299,289 | 115,976 | 108,489 | ||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (6) | Unvested and Accelerated (6) | 18,707,009 | 23,024,117 | 8,921,993 | 8,346,287 | |||||||||||||||||||||||||||||||||||||
Dividend Equivalents (7) | Dividend Equivalents (7) | 1,622,228 | 1,996,598 | 773,694 | 723,771 | |||||||||||||||||||||||||||||||||||||
Benefits and Perquisites: | Benefits and Perquisites: | |||||||||||||||||||||||||||||||||||||||||
Benefits Offset Payment (11) | 22,357 | 18,354 | 9,005 | 23,329 | ||||||||||||||||||||||||||||||||||||||
Benefits Offset Payment (8) | Benefits Offset Payment (8) | 32,052 | 25,828 | 25,834 | 33,225 | |||||||||||||||||||||||||||||||||||||
Accrued Retirement Benefits: | Accrued Retirement Benefits: | |||||||||||||||||||||||||||||||||||||||||
Associates’ Pension Plan (12) | — | 20,733 | — | — | ||||||||||||||||||||||||||||||||||||||
RSP (12) | 1,121,694 | 1,187,011 | 1,556,581 | 1,184,327 | ||||||||||||||||||||||||||||||||||||||
ERP (12) | 1,415,196 | 1,780,754 | 2,597,304 | 1,452,231 | ||||||||||||||||||||||||||||||||||||||
Associates’ Pension Plan (9) | Associates’ Pension Plan (9) | — | 28,417 | — | — | |||||||||||||||||||||||||||||||||||||
ERP (9) | ERP (9) | 2,387,042 | 3,211,750 | 4,924,820 | 2,289,288 | |||||||||||||||||||||||||||||||||||||
Total: | $ | 12,927,380 | $ | 16,232,378 | $ | 9,968,902 | $ | 8,327,854 | Total: | $ | 30,521,876 | $ | 37,419,720 | $ | 19,325,825 | $ | 15,837,055 |
Executive Benefits and Payments Upon Termination | Mr. Coleman | Mr. Lukemire | Ms. Stump | Mr. Smith | Executive Benefits and Payments Upon Termination | Mr. Coleman | Mr. Lukemire | Ms. Stump | Mr. Smith | |||||||||||||||||||||||||||||||||
Compensation (1): | Compensation (1): | |||||||||||||||||||||||||||||||||||||||||
Base Salary (2x annual base salary) | $ | — | $ | — | $ | — | $ | — | Base Salary (2x annual base salary) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
EIP — Prorated Annual Payout | — | — | — | — | EIP — Prorated Annual Payout | — | — | — | — | |||||||||||||||||||||||||||||||||
EIP — Target Payout (2x target) | — | — | — | — | EIP — Target Payout (2x target) | — | — | — | — | |||||||||||||||||||||||||||||||||
Equity-Based Compensation: | Equity-Based Compensation: | |||||||||||||||||||||||||||||||||||||||||
Stock Options: | Stock Options: | |||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated | Unvested and Accelerated | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Restricted Stock Units: | Restricted Stock Units: | |||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (2) | — | — | — | — | Unvested and Accelerated (2) | — | — | — | — | |||||||||||||||||||||||||||||||||
Restricted Stock Units: | ||||||||||||||||||||||||||||||||||||||||||
Accrued Dividends (2) | Accrued Dividends (2) | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Performance Units: | Performance Units: | |||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (2) | Unvested and Accelerated (2) | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Dividend Equivalents (2) | Dividend Equivalents (2) | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Project Focus Awards: | Project Focus Awards: | |||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (3) | — | — | — | — | Unvested and Accelerated (3) | 18,707,009 | 23,024,117 | 8,921,993 | 8,346,287 | |||||||||||||||||||||||||||||||||
Accrued Dividends (3) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Performance Units: | ||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (3) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Dividend Equivalents (3) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
Project Focus Awards: | ||||||||||||||||||||||||||||||||||||||||||
Unvested and Accelerated (4) | 5,216,571 | 6,420,432 | 2,487,947 | 2,327,338 | ||||||||||||||||||||||||||||||||||||||
Dividend Equivalents (5) | 243,171 | 299,289 | 115,976 | 108,489 | ||||||||||||||||||||||||||||||||||||||
Dividend Equivalents (4) | Dividend Equivalents (4) | 1,622,228 | 1,996,598 | 773,694 | 723,771 | |||||||||||||||||||||||||||||||||||||
Benefits and Perquisites: | Benefits and Perquisites: | |||||||||||||||||||||||||||||||||||||||||
Benefits Offset Payment | — | — | — | — | Benefits Offset Payment | — | — | — | — | |||||||||||||||||||||||||||||||||
Accrued Retirement Benefits: | Accrued Retirement Benefits: | |||||||||||||||||||||||||||||||||||||||||
Associates’ Pension Plan | — | — | — | — | Associates’ Pension Plan | — | — | — | — | |||||||||||||||||||||||||||||||||
RSP | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
ERP | — | — | — | — | ERP | — | — | — | — | |||||||||||||||||||||||||||||||||
Total: | $ | 5,459,742 | $ | 6,719,721 | $ | 2,603,923 | $ | 2,435,827 | Total: | $ | 20,329,237 | $ | 25,020,715 | $ | 9,695,687 | $ | 9,070,058 |
Plan Category | (a) Number of Common Shares to be Issued Upon Exercise of Outstanding Options, Warrants and Rights | (b) Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights | (c) Number of Common Shares Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Common Shares Reflected In Column(a)) | Plan Category | (a) Number of Common Shares to be Issued Upon Exercise of Outstanding Options, Warrants and Rights | (b) Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights | (c) Number of Common Shares Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Common Shares Reflected In Column(a)) | ||||||||||||||||||||||||
Equity compensation plans approved by shareholders | 2,387,089 (1) | $58.68 (2) | 3,906,639 (3) | Equity compensation plans approved by shareholders | 1,785,590 | (1) | $ | 57.90 | (2) | 2,938,710 | (3) | ||||||||||||||||||||
Equity compensation plans not approved by shareholders | n/a (4) | n/a (5) | n/a (5) | Equity compensation plans not approved by shareholders | n/a | (4) | n/a | n/a | (5) | ||||||||||||||||||||||
Total | 2,387,089 | $58.68 (2) | 3,906,639 | Total | 1,785,590 | $ | 57.90 | (2) | 2,938,710 |
Amount and Nature of Beneficial Ownership(1) | Amount and Nature of Beneficial Ownership(1) | ||||||||||||||||||||||||||||||||||||||||||||||
Name and Address of Beneficial Owner | Common Shares Presently Held | Common Share Equivalents Presently Held(2) | Options(3) | Total | Percent of Class | Name and Address of Beneficial Owner | Common Shares Presently Held | Common Share Equivalents Presently Held(2) | Options(3) | Total | Percent of Class | ||||||||||||||||||||||||||||||||||||
Thomas Randal Coleman (4) | 4,549 | 7,099(5) | 56,292 | 67,940(6) | * | Thomas Randal Coleman (4) | — | — | — | 0(5) | * | ||||||||||||||||||||||||||||||||||||
David C. Evans | — | — | — | —(7) | * | David C. Evans | — | 1,654(6) | — | 1,654(7) | * | ||||||||||||||||||||||||||||||||||||
Brian D. Finn | 12,346(8) | 8,482(9) | — | 20,828(10) | * | Brian D. Finn | — | 5,944(8) | — | 5,944(9) | * | ||||||||||||||||||||||||||||||||||||
James Hagedorn (4) | 15,679,276(11) | 140,830(12) | 598,331(13) | 16,418,437(14) | 29.28 | % | James Hagedorn (4) | 14,704,463(10) | — | 413,806(11) | 15,118,269(12) | 26.95 | % | ||||||||||||||||||||||||||||||||||
Adam Hanft | 37,577 | 6,606(15) | — | 44,183(16) | * | Adam Hanft | 12,636 | 10,445(13) | — | 23,081 | * | ||||||||||||||||||||||||||||||||||||
Craig R. Hargreaves | 254,602(17) | — | — | 254,602(18) | * | ||||||||||||||||||||||||||||||||||||||||||
Stephen L. Johnson | 9,310 | 5,661(19) | — | 14,971(20) | * | Stephen L. Johnson | 13,617 | 7,248(14) | — | 20,865 | * | ||||||||||||||||||||||||||||||||||||
Thomas N. Kelly Jr. | 15,837 | 4,718(21) | — | 20,555(22) | * | Thomas N. Kelly Jr. | 2,175 | 6,417(15) | — | 8,592 | * | ||||||||||||||||||||||||||||||||||||
Katherine Hagedorn Littlefield | 15,625,196(23) | 4,718(24) | — | 15,629,914(25) | 28.25 | % | Katherine Hagedorn Littlefield | 14,644,721(16) | 6,417(17) | — | 14,651,138 | 26.31 | % | ||||||||||||||||||||||||||||||||||
Michael C. Lukemire (4) | 513(26) | 11,649(27) | 130,242(28) | 142,404(29) | * | Michael C. Lukemire (4) | 553(18) | — | 49,983(19) | 50,536(20) | * | ||||||||||||||||||||||||||||||||||||
James F. McCann | 6,062 | 6,167(30) | — | 12,229(31) | * | ||||||||||||||||||||||||||||||||||||||||||
Nancy G. Mistretta | 14,313 | 4,718(32) | — | 19,031(33) | * | Nancy G. Mistretta | 8,818 | 6,417(21) | — | 15,235 | * | ||||||||||||||||||||||||||||||||||||
Peter E. Shumlin | — | 3,281(34) | — | 3,281(35) | * | Peter E. Shumlin | 1,640 | 8,462(22) | — | 10,102(23) | * | ||||||||||||||||||||||||||||||||||||
Ivan C. Smith (4) | 12,202(36) | 4,223(37) | 33,126 | 49,551(38) | * | Ivan C. Smith (4) | 681(24) | — | — | 681(25) | * | ||||||||||||||||||||||||||||||||||||
Denise S. Stump (4) | 5,442(39) | 11,527(40) | 21,104(41) | 38,073(42) | * | Denise S. Stump (4) | 153(26) | — | — | 153(27) | * | ||||||||||||||||||||||||||||||||||||
John R. Vines | 7,572 | 5,655(43) | — | 13,227(44) | * | John R. Vines | 2,792 | 7,631(28) | — | 10,423 | * | ||||||||||||||||||||||||||||||||||||
All current directors and executive officers as a group (16 individuals) | 16,059,601 | 225,334 | 839,095 | 17,124,030(45) | 30.37 | % | |||||||||||||||||||||||||||||||||||||||||
All current directors and executive officers as a group (15 individuals) | All current directors and executive officers as a group (15 individuals) | 14,748,319 | 60,635 | 463,789 | 15,272,743(29) | 27.17 | % | ||||||||||||||||||||||||||||||||||||||||
Hagedorn Partnership, L.P. | 15,625,196(46) | — | — | 15,625,196 | 28.24 | % | Hagedorn Partnership, L.P. | 14,644,721(30) | — | — | 14,644,721 | 26.30 | % | ||||||||||||||||||||||||||||||||||
44 South Bayles Ave., Suite 218, Port Washington, NY 11050 | 44 South Bayles Ave., Suite 218, Port Washington, NY 11050 | ||||||||||||||||||||||||||||||||||||||||||||||
The Vanguard Group (47) | 3,863,678(48) | — | — | 3,863,678 | 6.98 | % | |||||||||||||||||||||||||||||||||||||||||
The Vanguard Group (31) | The Vanguard Group (31) | 4,673,012(32) | — | — | 4,673,012 | 8.39 | % | ||||||||||||||||||||||||||||||||||||||||
100 Vanguard Blvd. Malvern, PA 19355 | 100 Vanguard Blvd. Malvern, PA 19355 | ||||||||||||||||||||||||||||||||||||||||||||||
FMR LLC/Abigail P. Johnson (49) | 3,636,836(50) | — | — | 3,636,836 | 6.57 | % | |||||||||||||||||||||||||||||||||||||||||
245 Summer Street Boston, MA 02210 | |||||||||||||||||||||||||||||||||||||||||||||||
BlackRock, Inc. (51) | 3,546,354(52) | — | — | 3,546,354 | 6.41 | % | |||||||||||||||||||||||||||||||||||||||||
BlackRock, Inc. (33) | BlackRock, Inc. (33) | 3,913,550(34) | — | — | 3,913,550 | 7.03 | % | ||||||||||||||||||||||||||||||||||||||||
55 East 52nd Street New York, NY 10055 | 55 East 52nd Street New York, NY 10055 | ||||||||||||||||||||||||||||||||||||||||||||||
Kayne Anderson Rudnick Investment Management LLC (35) | Kayne Anderson Rudnick Investment Management LLC (35) | 2,805,532(36) | — | — | 2,805,532 | 5.04 | % | ||||||||||||||||||||||||||||||||||||||||
1800 Avenue of the Stars, 2nd Floor Los Angeles, CA 90067 | 1800 Avenue of the Stars, 2nd Floor Los Angeles, CA 90067 |
THE SCOTTS MIRACLE-GRO CO. | Meeting Information | |||||||||||||
Meeting Type: | Annual | |||||||||||||
For holders as of: | November 30, 2020 | |||||||||||||
Date: January 25, 2021 Time: 9:00 AM Eastern Time | ||||||||||||||
Location: | Meeting live via the Internet-please visit www.virtualshareholdermeeting.com/SMG2021 | |||||||||||||
The company will be hosting the meeting live via the Internet this year. To attend the meeting via the Internet please visit www.virtualshareholdermeeting.com/SMG2021 and be sure to have the information that is printed in the box marked by the arrow ---> XXXX XXXX XXXX XXXX (located on the following page). | ||||||||||||||
THE SCOTTS MIRACLE-GRO COMPANY ATTN: KATHY UTTLEY — PARALEGAL 14111 SCOTTSLAWN ROAD MARYSVILLE, OH 43041 | You are receiving this communication because you hold shares in the company named above. | |||||||||||||
This is not a ballot. You cannot use this notice to vote these shares. This communication presents only an overview of the more complete proxy materials that are available to you on the Internet. You may view the proxy materials online at www.proxyvote.com or easily request a paper copy (see reverse side). | ||||||||||||||
We encourage you to access and review all of the important information contained in the proxy materials before voting. | ||||||||||||||
See the reverse side of this notice to obtain proxy materials and voting instructions. |
Proxy Materials Available to VIEW or RECEIVE: | |||||||||||
NOTICE OF THE 2021 ANNUAL MEETING AND PROXY STATEMENT | 2020 ANNUAL REPORT | ||||||||||
How to View Online: | |||||||||||
Have the information that is printed in the box marked by the arrow à XXXX XXXX XXXX XXXX (located on the following page) and visit: www.proxyvote.com. | |||||||||||
How to Request and Receive a PAPER or E-MAIL Copy: | |||||||||||
If you want to receive a paper or e-mail copy of these documents, you must request one. There is NO charge for requesting a copy. Please choose one of the following methods to make your request: | |||||||||||
1) BY INTERNET: | www.proxyvote.com | ||||||||||
2) BY TELEPHONE: | 1-800-579-1639 | ||||||||||
3) BY E-MAIL*: | sendmaterial@proxyvote.com | ||||||||||
* If requesting materials by e-mail, please send a blank e-mail with the information that is printed in the box marked by the arrow à XXXX XXXX XXXX XXXX (located on the following page) in the subject line. | |||||||||||
Requests, instructions and other inquiries sent to this e-mail address will NOT be forwarded to your investment advisor. Please make the request as instructed above on or before January 11, 2021 to facilitate timely delivery. |
Vote By Internet: | ||||||||||||||
Before The Meeting: | ||||||||||||||
Go to www.proxyvote.com. Have the information that is printed in the box marked by the arrow àXXXX XXXX XXXX XXXX (located on the following page) available and follow the instructions. | ||||||||||||||
During The Meeting: | ||||||||||||||
Go to www.virtualshareholdermeeting.com/SMG2021. Have the information that is printed in the box marked by the arrow àXXXX XXXX XXXX XXXX (located on the following page) available and follow the instructions. | ||||||||||||||
Vote By Mail: You can vote by mail by requesting a paper copy of the materials, which will include a proxy card. |
Voting Items | |||||||||||||||||||||||||||||
Your Board of Directors recommends you vote FOR the following: | |||||||||||||||||||||||||||||
1. | Election of three directors, each to serve for a term of three years to expire at the 2024 Annual Meeting of Shareholders: | ||||||||||||||||||||||||||||
Nominees: | |||||||||||||||||||||||||||||
01) Thomas N. Kelly Jr. | |||||||||||||||||||||||||||||
02) Peter E. Shumlin | |||||||||||||||||||||||||||||
03) John R. Vines | |||||||||||||||||||||||||||||
Your Board of Directors recommends that you vote FOR the following proposals: | |||||||||||||||||||||||||||||
2. | Approval, on an advisory basis, of the compensation of the Company’s named executive officers. | ||||||||||||||||||||||||||||
3. | Ratification of the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending September 30, 2021. | ||||||||||||||||||||||||||||
THE SCOTTS MIRACLE-GRO CO. ATTN: KATHY UTTLEY — PARALEGAL 14111 SCOTTSLAWN ROAD MARYSVILLE, OH 43041 | VOTE BY INTERNET Before The Meeting — Go to www.proxyvote.com Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 PM Eastern Time on January 24, During The Meeting — Go to www.virtualshareholdermeeting.com/ You may attend the Meeting via the Internet and vote during the Meeting. Have the information that is printed in the box marked by the arrow available and follow the instructions. | |||||||
ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS If you would like to reduce the costs incurred by The Scotts Miracle-Gro Company in mailing proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail or the Internet. To sign up for electronic delivery, please follow the instructions above to vote using the Internet and, when prompted, indicate that you agree to receive or access proxy materials electronically in future years. | ||||||||
VOTE BY PHONE — 1-800-690-6903 Use any touch-tone telephone to transmit your voting instructions up until 11:59 PM Eastern Time on January 24, | ||||||||
VOTE BY MAIL Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to The Scotts Miracle-Gro Company, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717. |
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS: | |||||
E53514-P15388-Z73574 | KEEP THIS PORTION FOR YOUR RECORDS | ||||
THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. | DETACH AND RETURN THIS PORTION ONLY | ||||
THE SCOTTS MIRACLE-GRO COMPANY | For All | Withhold All | For All Except | To withhold authority to vote for any individual nominee(s), mark “For All Except” and write the number(s) of the nominee(s) on the line below. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Your Board of Directors recommends you vote FOR the following: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1. | Election of | ¨ | ¨ | ¨ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nominees: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
01) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
02) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
03) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Your Board of Directors recommends that you vote FOR the following proposals: | For | Against | Abstain | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2. | Approval, on an advisory basis, of the compensation of the Company's named executive officers. | ¨ | ¨ | ¨ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3. | Ratification of the selection of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending September 30, | ¨ | ¨ | ¨ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The undersigned shareholder(s) authorize(s) the individuals designated to vote this proxy to vote, in their discretion, to the extent permitted by applicable law, upon such other matters (none known by the Company at the time of solicitation of this proxy) as may properly come before the Annual Meeting or any adjournment or postponement. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Please sign exactly as your name appears hereon. The signer hereby revokes all prior proxies heretofore given by the signer to vote at said meeting or any adjournments thereof. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note: Please fill in, sign, date and return this proxy card in the enclosed envelope. When signing as Attorney, Executor, Administrator, Trustee or Guardian, please give full title as such. If shareholder is a corporation, please sign the full corporate name by an authorized officer. If shareholder is a partnership or other entity, an authorized person should sign in the entity's name. Joint Owners must each sign individually. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Signature [PLEASE SIGN WITHIN BOX] | Date | Signature (Joint Owners) | Date |
E53515-P15388-Z73574 | ||||||||
THE SCOTTS MIRACLE-GRO COMPANY | ||||||||
PROXY FOR ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON JANUARY 25, | ||||||||
The holder(s) of common shares of The Scotts Miracle-Gro Company (the "Company") identified on this proxy card hereby appoint(s) James Hagedorn and Ivan C. Smith, and each of them, the proxies of the shareholder(s), with full power of substitution in each, to attend the Annual Meeting of Shareholders of the Company (the "Annual Meeting") to be held via live webcast only at www.virtualshareholdermeeting.com/ | ||||||||
Where a choice is indicated, the common shares represented by this proxy card, when properly executed and returned, will be voted or not voted as specified. If no choice is indicated, the common shares represented by this proxy card when properly executed and returned will be voted "FOR" the election of the nominees listed in Proposal Number 1 as directors of the Company, to the extent permitted by applicable law, "FOR" approval, on an advisory basis, of the compensation of the Company's named executive officers as set forth in Proposal Number 2 and “FOR” ratification of the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm listed in Proposal Number 3. If any other matters are properly brought before the Annual Meeting or any adjournment or postponement, or if a nominee for election as a director named in the Proxy Statement who would have otherwise received the required number of votes is unable to serve or for good cause will not serve, the common shares represented by this proxy card will be voted in the discretion of the individuals designated to vote this proxy card, to the extent permitted by applicable law, on such matters or for such substitute nominee(s) as the directors of the Company may recommend. | ||||||||
If common shares are allocated to the account of a shareholder under The Scotts Company LLC Retirement Savings Plan (the “RSP”), then the shareholder hereby directs the Trustee of the RSP to vote all common shares of the Company allocated to such account under the RSP in accordance with the instructions given herein, at the Company’s Annual Meeting and at any adjournment or postponement, on the matters set forth on the reverse side. If no instructions are given, the proxy will not be voted by the Trustee of the RSP. | ||||||||
The shareholder(s) hereby acknowledge(s) receipt of the Notice of Annual Meeting of Shareholders and the related Proxy Statement for the January 25, | ||||||||
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE SCOTTS MIRACLE-GRO COMPANY. | ||||||||
(This proxy card continues and must be signed and dated on the reverse side.) | ||||||||