Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Cover [Abstract] | |
Document Type | DEF 14A |
Entity Registrant Name | INNOSPEC INC. |
Entity Central Index Key | 0001054905 |
Amendment Flag | false |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Pay vs Performance Disclosure [Table] | ||||
Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE As required by Item 402(v) of Regulation S-K, we are providing the following information about the relationship between compensation actually paid (CAP), as defined in Item 402(v), and performance. Year Summary Compensation Table Total for Principal Executive Officer (PEO) 1 Compensation Actually 2,3 2 Average Summary Compensation Table Total for Non-PEO Named Executive Officers 1 Average Compensation Actually Paid to Non-PEO NEOs 2,3 3 Value of Initial Fixed $100 Investment Based On: Net Income (millions) 5 Operating Income 6 Total Shareholder Return Peer Group Total Shareholder Return 4 2022 $7,888,489 $11,227,698 $1,375,137 $1,771,361 $103 $112 $133.0 $187.3 2021 $9,897,900 $6,603,590 $1,668,578 $1,305,876 $90 $149 $93.1 $132.1 2020 $7,454,445 $5,431,868 $1,465,583 $1,135,176 $89 $116 $28.7 $33.7 (1) The PEO listed for 2020, 2021, and 2022 is Patrick S. Williams . The Non-PEO remaining NEOs for 2021 and 2022 are Ian P. Cleminson, Philip J. Boon, Ian M. McRobbie, and David B. Jones. The Non-PEO remaining NEOs for 2020 are Ian P. Cleminson, and Philip J. Boon, and Brian R. Watt, and Ian M. McRobbie. (2) The following adjustments relating to equity awards were made to total compensation for each year to determine CAP: Principal Executive Officer Year Value of Equity Awards Year End Value of Equity Change in Fair Value of Value of Awards Granted in Total Equity Award 2022 ($3,945,358 ) $4,172,162 $1,999,803 $1,112,602 $3,339,209 2021 ($6,171,172 ) $5,944,128 ($3,072,986 ) $5,720 ($3,294,311 ) 2020 ($3,097,570) $2,975,283 ($1,884,299 ) ($15,991 ) ($2,022,577 ) Average Non-PEO NEOs Year Value of Equity Awards Year End Value of Equity Change in Fair Value of Value of Awards Granted in Total Equity Award 2022 ($465,180 ) $492,576 $255,114 $113,713 $396,224 2021 ($809,693 ) $762,365 ($315,627 ) $1,087 ($361,868 ) 2020 ($339,074 ) $328,593 ($231,736 ) ($71,038 ) ($313,254 ) (a) The valuation methodologies used to calculate fair values for each measurement date do not materially differ from those used at the time of grant of each respective award. (3) The following adjustments relating to defined benefit and pension plans (as applicable) were made to total compensation for each year to determine CAP: Reported Values Deducted Calculated Values Added Year PEO Non-PEO NEOs PEO Non-PEO NEOs 2022 $0 $0 $0 $0 2021 $0 $834 $0 $0 2020 $0 $17,154 $0 $0 (4) Represents the cumulative TSR for the S&P Composite 1500 Specialty Chemicals Index, as disclosed by Innospec for the purposes of Item 201(e) of Regulation S-K. (5) The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year (GAAP Net Income). (6) The Company believes Operating Income is the financial performance measure most closely linked to the calculation of CAP. Operating Income is defined in the Compensation Discussion and Analysis. | |||
Named Executive Officers, Footnote [Text Block] | (1) The PEO listed for 2020, 2021, and 2022 is Patrick S. Williams . The Non-PEO remaining NEOs for 2021 and 2022 are Ian P. Cleminson, Philip J. Boon, Ian M. McRobbie, and David B. Jones. The Non-PEO remaining NEOs for 2020 are Ian P. Cleminson, and Philip J. Boon, and Brian R. Watt, and Ian M. McRobbie. | |||
PEO Total Compensation Amount | $ 7,888,489 | $ 9,897,900 | $ 7,454,445 | |
PEO Actually Paid Compensation Amount | [1] | $ 11,227,698 | 6,603,590 | 5,431,868 |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) The following adjustments relating to equity awards were made to total compensation for each year to determine CAP: Principal Executive Officer Year Value of Equity Awards Year End Value of Equity Change in Fair Value of Value of Awards Granted in Total Equity Award 2022 ($3,945,358 ) $4,172,162 $1,999,803 $1,112,602 $3,339,209 2021 ($6,171,172 ) $5,944,128 ($3,072,986 ) $5,720 ($3,294,311 ) 2020 ($3,097,570) $2,975,283 ($1,884,299 ) ($15,991 ) ($2,022,577 ) Average Non-PEO NEOs Year Value of Equity Awards Year End Value of Equity Change in Fair Value of Value of Awards Granted in Total Equity Award 2022 ($465,180 ) $492,576 $255,114 $113,713 $396,224 2021 ($809,693 ) $762,365 ($315,627 ) $1,087 ($361,868 ) 2020 ($339,074 ) $328,593 ($231,736 ) ($71,038 ) ($313,254 ) | |||
Non-PEO NEO Average Total Compensation Amount | $ 1,375,137 | 1,668,578 | 1,465,583 | |
Non-PEO NEO Average Compensation Actually Paid Amount | [1] | $ 1,771,361 | 1,305,876 | 1,135,176 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (2) The following adjustments relating to equity awards were made to total compensation for each year to determine CAP: Principal Executive Officer Year Value of Equity Awards Year End Value of Equity Change in Fair Value of Value of Awards Granted in Total Equity Award 2022 ($3,945,358 ) $4,172,162 $1,999,803 $1,112,602 $3,339,209 2021 ($6,171,172 ) $5,944,128 ($3,072,986 ) $5,720 ($3,294,311 ) 2020 ($3,097,570) $2,975,283 ($1,884,299 ) ($15,991 ) ($2,022,577 ) Average Non-PEO NEOs Year Value of Equity Awards Year End Value of Equity Change in Fair Value of Value of Awards Granted in Total Equity Award 2022 ($465,180 ) $492,576 $255,114 $113,713 $396,224 2021 ($809,693 ) $762,365 ($315,627 ) $1,087 ($361,868 ) 2020 ($339,074 ) $328,593 ($231,736 ) ($71,038 ) ($313,254 ) (a) The valuation methodologies used to calculate fair values for each measurement date do not materially differ from those used at the time of grant of each respective award. | |||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Analysis of the Information Presented in the Pay versus Performance Table The graphics below depict the relationship between CAP and Company TSR, S&P Composite 1500 Specialty Chemicals Index TSR (referred to as the “peer group TSR” for purposes of 402(v)), and financial performance. | |||
Total Shareholder Return Amount | $ 103 | 90 | 89 | |
Peer Group Total Shareholder Return Amount | [2] | 112 | 149 | 116 |
Net Income (Loss) | [2] | $ 133,000,000 | $ 93,100,000 | $ 28,700,000 |
PEO Name | Patrick S. Williams | Patrick S. Williams | Patrick S. Williams | |
Measure [Axis]: 1 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | Operating Income | |||
Measure [Axis]: 2 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | EPS | |||
Measure [Axis]: 3 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | Cash Flow | |||
Measure [Axis]: 4 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | Revenue | |||
Measure [Axis]: 5 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | Relative TSR | |||
Measure [Axis]: 6 | ||||
Pay vs Performance Disclosure [Table] | ||||
Measure Name | Stock Price | |||
PEO [Member] | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | $ 3,339,209 | $ (3,294,311) | $ (2,022,577) | |
PEO [Member] | Adjustment Type 1 [Member] | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | (3,945,358) | (6,171,172) | (3,097,570) | |
PEO [Member] | Adjustment Type 2 [Member] | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 4,172,162 | 5,944,128 | 2,975,283 | |
PEO [Member] | Adjustment Type 3 [Member] | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 1,999,803 | (3,072,986) | (1,884,299) | |
PEO [Member] | Adjustment Type 4 [Member] | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 1,112,602 | 5,720 | (15,991) | |
Non-PEO NEO [Member] | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 396,224 | (361,868) | (313,254) | |
Non-PEO NEO [Member] | Adjustment Type 1 [Member] | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | (465,180) | (809,693) | (339,074) | |
Non-PEO NEO [Member] | Adjustment Type 2 [Member] | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 492,576 | 762,365 | 328,593 | |
Non-PEO NEO [Member] | Adjustment Type 3 [Member] | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | 255,114 | (315,627) | (231,736) | |
Non-PEO NEO [Member] | Adjustment Type 4 [Member] | ||||
Pay vs Performance Disclosure [Table] | ||||
Adjustment to Compensation Amount | $ 113,713 | $ 1,087 | $ (71,038) | |
[1]The following adjustments relating to defined benefit and pension plans (as applicable) were made to total compensation for each year to determine CAP:[2]Represents the cumulative TSR for the S&P Composite 1500 Specialty Chemicals Index, as disclosed by Innospec for the purposes of Item 201(e) of Regulation S-K. |