Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | V2X, Inc. |
Entity Central Index Key | 0001601548 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE EXECUTIVE COMPENSATION Our compensation philosophy is to support V2X’s business strategy within the principles of competitiveness, full disclosure and consistent alignment with long-term value creation. We believe our philosophy encourages individual and group behaviors that balance risk and reward while supporting sustained growth and earnings performance. A substantial portion of our executive compensation is tied to the Company’s internal business and financial performance and share price performance. If internal business and financial performance or share price performance falls below identified thresholds, at-risk incentive compensation is reduced or not paid at all. As required by Item 402(v) of Regulation S-K, the following table and accompanying footnotes and discussion provide certain information regarding executive compensation and measures of Company performance in the last three fiscal years. Pay Versus Performance Table Fiscal (1) Summary (2) Compensation (3) Average (4) Average (5) Value of Initial Fixed $100 GAAP Net (8) Adjusted (9) Company (6) Peer Group (7) 2022 4,619,679 4,505,434 6,866,764 8,171,106 80.55 101.87 (14,330,000) 4.16 2021 4,083,541 3,185,883 1,049,196 854,711 89.29 107.72 45,728,000 3.96 2020 3,441,257 3,301,633 1,011,132 993,030 97.00 105.62 36,951,000 3.09 (1) Year-ended December 31. (2) Amounts in this column reflect the total compensation as reported in the Summary Compensation Table for Charles L. Prow, President and Chief Executive Officer. (3) Amounts in this column reflect the Summary Compensation Table total for Charles L. Prow, President and Chief Executive Officer minus the value of Stock Awards and Option Awards granted in the year (as reported in the Summary Compensation Table), plus the fair value of equity awards at year-end for awards granted in the year, the change in fair value of equity awards at year-end (from the end of the prior year) for equity awards granted in previous years, the fair value of equity awards on the vest date for equity awards which were granted and vested in the year, and the change in fair value of equity awards at year-end (from the vest date) for equity awards which vested in the year. For a reconciliation, see the table below. (4) (5) Amounts in this column reflect the average Summary Compensation Table total for all Non-CEO NEOs (as disclosed in footnote 4 above) minus the value of Stock Awards and Option Awards granted in the year (as reported in the Summary Compensation Table), plus the fair value of equity awards at year-end for awards granted in the year, the change in fair value of equity awards at year-end (from the end of the prior year) for equity awards granted in previous years, the fair value of equity awards on the vest date for equity awards which were granted and vested in the year, and the change in fair value of equity awards at year-end (from the vest date) for equity awards which vested in the year. Amounts also reflect the one-time Vertex Merger Grant in 2022 that impacts the average Compensation Actually Paid for the Non-CEO NEOs for 2022. For a reconciliation, see the table below. (6) As of year-ended December 31, assuming an initial investment of $100 on December 31, 2019. (7) Reflects S&P Aerospace and Defense Select Industry Index. (8) As of year-ended December 31. (9) Year-ended December 31. CEO SCT Total to CAP Reconciliation Fiscal Year Salary Bonus and Other (1) SCT Total Deductions (2) Additions (3) CAP 2022 831,310 1,251,965 36,391 4,619,679 (2,500,013) 2,385,768 4,505,434 2021 764,619 1,185,106 33,844 4,083,541 (2,099,972) 1,202,314 3,185,883 2020 738,467 769,400 33,371 3,441,257 (1,900,019) 1,760,395 3,301,633 Average Non-CEO NEOs SCT Total to CAP Reconciliation Fiscal Year Salary Bonus and Other (1) SCT Total Deductions (2) Additions (3) CAP 2022 286,439 410,925 15,530 6,866,764 (6,153,870) 7,458,212 8,171,106 2021 375,981 298,504 13,706 1,049,196 (361,005) 166,520 854,711 2020 397,271 235,775 15,577 1,011,132 (362,509) 344,407 993,030 (1) Reflects “all other compensation” reported in the SCT for each year shown. (2) Represents the grant date fair value of equity-based awards granted each year. We do not offer a pension plan, therefore, no adjustment for pension value needed. (3) Reflects the value of equity calculated in accordance with the SEC methodology for determining CAP for each year shown. | ||
Company Selected Measure Name | Adjusted Diluted Earnings Per Share | ||
Named Executive Officers, Footnote [Text Block] | (1) Year-ended December 31. (2) Amounts in this column reflect the total compensation as reported in the Summary Compensation Table for Charles L. Prow, President and Chief Executive Officer. (3) Amounts in this column reflect the Summary Compensation Table total for Charles L. Prow, President and Chief Executive Officer minus the value of Stock Awards and Option Awards granted in the year (as reported in the Summary Compensation Table), plus the fair value of equity awards at year-end for awards granted in the year, the change in fair value of equity awards at year-end (from the end of the prior year) for equity awards granted in previous years, the fair value of equity awards on the vest date for equity awards which were granted and vested in the year, and the change in fair value of equity awards at year-end (from the vest date) for equity awards which vested in the year. For a reconciliation, see the table below. (4) (5) | ||
Peer Group Issuers, Footnote [Text Block] | (6) As of year-ended December 31, assuming an initial investment of $100 on December 31, 2019. (7) Reflects S&P Aerospace and Defense Select Industry Index. | ||
PEO Total Compensation Amount | $ 4,619,679 | $ 4,083,541 | $ 3,441,257 |
PEO Actually Paid Compensation Amount | $ 4,505,434 | 3,185,883 | 3,301,633 |
Adjustment To PEO Compensation, Footnote [Text Block] | CEO SCT Total to CAP Reconciliation Fiscal Year Salary Bonus and Other (1) SCT Total Deductions (2) Additions (3) CAP 2022 831,310 1,251,965 36,391 4,619,679 (2,500,013) 2,385,768 4,505,434 2021 764,619 1,185,106 33,844 4,083,541 (2,099,972) 1,202,314 3,185,883 2020 738,467 769,400 33,371 3,441,257 (1,900,019) 1,760,395 3,301,633 | ||
Non-PEO NEO Average Total Compensation Amount | $ 6,866,764 | 1,049,196 | 1,011,132 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 8,171,106 | 854,711 | 993,030 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Average Non-CEO NEOs SCT Total to CAP Reconciliation Fiscal Year Salary Bonus and Other (1) SCT Total Deductions (2) Additions (3) CAP 2022 286,439 410,925 15,530 6,866,764 (6,153,870) 7,458,212 8,171,106 2021 375,981 298,504 13,706 1,049,196 (361,005) 166,520 854,711 2020 397,271 235,775 15,577 1,011,132 (362,509) 344,407 993,030 (1) Reflects “all other compensation” reported in the SCT for each year shown. (2) Represents the grant date fair value of equity-based awards granted each year. We do not offer a pension plan, therefore, no adjustment for pension value needed. (3) Reflects the value of equity calculated in accordance with the SEC methodology for determining CAP for each year shown. | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | CAP versus TSR | ||
Compensation Actually Paid vs. Net Income [Text Block] | CAP versus Net Income/(Loss) | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | CAP versus Adjusted Diluted EPS | ||
Total Shareholder Return Vs Peer Group [Text Block] | Company TSR versus Peer Group TSR | ||
Tabular List [Table Text Block] | Most Important Performance Measures to Determine CAP for 2022 The five items listed below represent the most important metrics we used to determine CAP for 2022 as further described in our “Compensation Discussion and Analysis.” Most Important Performance Measures Adjusted Diluted Earnings Per Share Days Sales Outstanding Revenue New Business Individual Strategic Achievements | ||
Total Shareholder Return Amount | $ 80.55 | 89.29 | 97 |
Peer Group Total Shareholder Return Amount | 101.87 | 107.72 | 105.62 |
Net Income (Loss) | $ (14,330,000) | $ 45,728,000 | $ 36,951,000 |
Company Selected Measure Amount | 4.16 | 3.96 | 3.09 |
PEO Name | Charles L. Prow | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Diluted Earnings Per Share | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Days Sales Outstanding | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Revenue | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | New Business | ||
Measure [Axis]: 5 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Individual Strategic Achievements | ||
PEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Salary | $ 831,310 | $ 764,619 | $ 738,467 |
Bonus and Non-Equity Incentive Plan Compensation | 1,251,965 | 1,185,106 | 769,400 |
Other Compensation | 36,391 | 33,844 | 33,371 |
PEO [Member] | Deductions Adjustment [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (2,500,013) | (2,099,972) | (1,900,019) |
PEO [Member] | Additions Adjustment [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 2,385,768 | 1,202,314 | 1,760,395 |
Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Salary | 286,439 | 375,981 | 397,271 |
Bonus and Non-Equity Incentive Plan Compensation | 410,925 | 298,504 | 235,775 |
Other Compensation | 15,530 | 13,706 | 15,577 |
Non-PEO NEO [Member] | Deductions Adjustment [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (6,153,870) | (361,005) | (362,509) |
Non-PEO NEO [Member] | Additions Adjustment [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 7,458,212 | $ 166,520 | $ 344,407 |