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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
Mar. 17, 2022
$ / shares
Mar. 12, 2021
$ / shares
Mar. 17, 2020
$ / shares
Dec. 31, 2019
$ / shares
Mar. 14, 2019
$ / shares
Oct. 01, 2018
$ / shares
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 regarding the relationship between executive compensation and our financial performance for each of the last three completed calendar years. In determining the “compensation actually paid” to our NEOs, we are required to make various adjustments to amounts that have been reported in the Summary Compensation Table in previous years since the required valuation methods for this section differ from those required in the Summary Compensation Table. The table below summarizes compensation values both previously reported in our Summary Compensation Table and the adjusted values required in this section for calendar years 2020, 2021 and 2022.
Year
Summary
Compensation
Table (SCT)
Total for PEO
($)
(1)
Compensation
Actually Paid
to PEO
($)
(1)(3)
Average SCT
Total for
Non-PEO
NEOs
($)
(2)
Average
Compensation
Actually Paid to
Non-PEO
NEOs
($)
(2)(3)
Value of Initial
Fixed $100
Investment based on:
Net Income
($ thousands)
Adjusted
Operating
Income
($ thousands)
Company
TSR
(4)
Peer Group
TSR
(4)
2022 5,914,884 894,752 1,769,683 409,560 126.48 36.09 166,942 116.6
2021 4,526,501 13,102,240 1,514,852 2,755,988 193.81 81.82 26,038 104.3
2020 2,610,509 5,331,974 1,138,308 1,483,327 118.18 132.76 (8,391) 66.9
(1)
The PEO (principal executive officer) for each year presented was identified as Dr. Miller, the Company’s CEO.
(2)
The Non-PEO NEOs for each year presented were identified as Mr. Kiernan, Drs. Devasahayam and Porshnev, and Ms. Wilkerson.
(3)
A reconciliation of Total Compensation per the Summary Compensation Table to Compensation Actually Paid is as follows:
2022
2021
2020
PEO
($)
Average for
Non-PEO
NEOs
($)
PEO
($)
Average for
Non-PEO
NEOs
($)
PEO
($)
Average for
Non-PEO
NEOs
($)
Total Compensation from
SCT
5,914,884 1,769,683 4,526,501 1,514,852 2,610,509 1,138,308
Deduct: Amounts
Reported Under “Stock
Awards” and “Option
Awards” columns in
SCT
(4,741,020) (1,135,870) (3,122,580) (813,172) (1,121,618) (460,253)
Add: Year-end value of equity awards granted in covered year that were outstanding and unvested as of the end of the covered fiscal year(a)(b)
2,517,420 603,132 4,362,540 1,136,078 2,140,579 780,839
Add: The amount of
change in fair values as
of year-end (from end
of the prior year) of
awards granted in
prior years
and outstanding at
year-end
(a)(b)
(2,779,460) (737,886) 4,456,145 828,795 1,868,289 56,706
Add: The amount of
change in fair values as
of the vesting date
(from end of the prior
year) of awards granted
in any prior fiscal year
for which vesting
conditions were
satisfied during the
covered fiscal year
(a)(b)
(17,073) (89,499) 2,879,634 89,435 (165,785) (32,272)
Compensation Actually
Paid
894,752 409,560 13,102,240 2,755,988 5,331,974 1,483,327
(a)
Each NEO received time-based restricted stock awards in each of the periods presented. The fair value of time-based restricted stock awards is dependent on the Company’s stock price. The Company’s closing stock price as of the dates listed are as follows:
Date
Stock Price
12/31/2019 $ 14.69
12/31/2020 $ 17.36
12/31/2021 $ 28.47
12/31/2022 $ 18.58
(b)
Our NEOs received PRSUs during each of the periods presented, that are subject to the achievement of designated performance criteria, based on three-year total shareholder return. These PRSUs are valued based upon the Monte Carlo simulation method. Please see below for the per share fair value as of each respective date:
Per Share Fair Value at…
Award
Grant Date
Grant Date
12/31/2019
12/31/2020
12/31/2021
12/31/2022
2018PRSU(c) 10/1/2018 $ 15.58 $ 25.01 $ 31.99
2019PRSU(d) 3/14/2019 $ 14.46 $ 20.36 $ 24.81 $ 56.29
2020PRSU(d) 3/17/2020 $ 10.59 $ 18.92 $ 43.47 $ 29.82
2021PRSU(e) 3/12/2021 $ 27.81 $ 40.60 $ 24.76
2022PRSU(e) 3/17/2022 $ 45.28 $ 22.27
(c)
Granted to Dr. Miller only.
(d)
Granted to Drs. Miller, Devasahayam, and Porshnev, and Mr. Kiernan.
(e)
Granted to Drs. Miller, Devasahayam, and Porshnev, Mr. Kiernan, and Ms. Wilkerson.
(4)
The values disclosed in this TSR column represent the measurement period value of an investment of $100 in respective stock or index as of December 31, 2019, and then valued again on each of December 31, 2020, 2021, and 2022.
               
Company Selected Measure Name Adjusted Operating Income                
Named Executive Officers, Footnote [Text Block]
(1)
The PEO (principal executive officer) for each year presented was identified as Dr. Miller, the Company’s CEO.
(2)
The Non-PEO NEOs for each year presented were identified as Mr. Kiernan, Drs. Devasahayam and Porshnev, and Ms. Wilkerson.
               
PEO Total Compensation Amount $ 5,914,884 $ 4,526,501 $ 2,610,509            
PEO Actually Paid Compensation Amount $ 894,752 13,102,240 5,331,974            
Adjustment To PEO Compensation, Footnote [Text Block]
(3)
A reconciliation of Total Compensation per the Summary Compensation Table to Compensation Actually Paid is as follows:
2022
2021
2020
PEO
($)
Average for
Non-PEO
NEOs
($)
PEO
($)
Average for
Non-PEO
NEOs
($)
PEO
($)
Average for
Non-PEO
NEOs
($)
Total Compensation from
SCT
5,914,884 1,769,683 4,526,501 1,514,852 2,610,509 1,138,308
Deduct: Amounts
Reported Under “Stock
Awards” and “Option
Awards” columns in
SCT
(4,741,020) (1,135,870) (3,122,580) (813,172) (1,121,618) (460,253)
Add: Year-end value of equity awards granted in covered year that were outstanding and unvested as of the end of the covered fiscal year(a)(b)
2,517,420 603,132 4,362,540 1,136,078 2,140,579 780,839
Add: The amount of
change in fair values as
of year-end (from end
of the prior year) of
awards granted in
prior years
and outstanding at
year-end
(a)(b)
(2,779,460) (737,886) 4,456,145 828,795 1,868,289 56,706
Add: The amount of
change in fair values as
of the vesting date
(from end of the prior
year) of awards granted
in any prior fiscal year
for which vesting
conditions were
satisfied during the
covered fiscal year
(a)(b)
(17,073) (89,499) 2,879,634 89,435 (165,785) (32,272)
Compensation Actually
Paid
894,752 409,560 13,102,240 2,755,988 5,331,974 1,483,327
(a)
Each NEO received time-based restricted stock awards in each of the periods presented. The fair value of time-based restricted stock awards is dependent on the Company’s stock price. The Company’s closing stock price as of the dates listed are as follows:
Date
Stock Price
12/31/2019 $ 14.69
12/31/2020 $ 17.36
12/31/2021 $ 28.47
12/31/2022 $ 18.58
(b)
Our NEOs received PRSUs during each of the periods presented, that are subject to the achievement of designated performance criteria, based on three-year total shareholder return. These PRSUs are valued based upon the Monte Carlo simulation method. Please see below for the per share fair value as of each respective date:
Per Share Fair Value at…
Award
Grant Date
Grant Date
12/31/2019
12/31/2020
12/31/2021
12/31/2022
2018PRSU(c) 10/1/2018 $ 15.58 $ 25.01 $ 31.99
2019PRSU(d) 3/14/2019 $ 14.46 $ 20.36 $ 24.81 $ 56.29
2020PRSU(d) 3/17/2020 $ 10.59 $ 18.92 $ 43.47 $ 29.82
2021PRSU(e) 3/12/2021 $ 27.81 $ 40.60 $ 24.76
2022PRSU(e) 3/17/2022 $ 45.28 $ 22.27
(c)
Granted to Dr. Miller only.
(d)
Granted to Drs. Miller, Devasahayam, and Porshnev, and Mr. Kiernan.
(e)
Granted to Drs. Miller, Devasahayam, and Porshnev, Mr. Kiernan, and Ms. Wilkerson.
               
Non-PEO NEO Average Total Compensation Amount $ 1,769,683 1,514,852 1,138,308            
Non-PEO NEO Average Compensation Actually Paid Amount $ 409,560 2,755,988 1,483,327            
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
(3)
A reconciliation of Total Compensation per the Summary Compensation Table to Compensation Actually Paid is as follows:
2022
2021
2020
PEO
($)
Average for
Non-PEO
NEOs
($)
PEO
($)
Average for
Non-PEO
NEOs
($)
PEO
($)
Average for
Non-PEO
NEOs
($)
Total Compensation from
SCT
5,914,884 1,769,683 4,526,501 1,514,852 2,610,509 1,138,308
Deduct: Amounts
Reported Under “Stock
Awards” and “Option
Awards” columns in
SCT
(4,741,020) (1,135,870) (3,122,580) (813,172) (1,121,618) (460,253)
Add: Year-end value of equity awards granted in covered year that were outstanding and unvested as of the end of the covered fiscal year(a)(b)
2,517,420 603,132 4,362,540 1,136,078 2,140,579 780,839
Add: The amount of
change in fair values as
of year-end (from end
of the prior year) of
awards granted in
prior years
and outstanding at
year-end
(a)(b)
(2,779,460) (737,886) 4,456,145 828,795 1,868,289 56,706
Add: The amount of
change in fair values as
of the vesting date
(from end of the prior
year) of awards granted
in any prior fiscal year
for which vesting
conditions were
satisfied during the
covered fiscal year
(a)(b)
(17,073) (89,499) 2,879,634 89,435 (165,785) (32,272)
Compensation Actually
Paid
894,752 409,560 13,102,240 2,755,988 5,331,974 1,483,327
(a)
Each NEO received time-based restricted stock awards in each of the periods presented. The fair value of time-based restricted stock awards is dependent on the Company’s stock price. The Company’s closing stock price as of the dates listed are as follows:
Date
Stock Price
12/31/2019 $ 14.69
12/31/2020 $ 17.36
12/31/2021 $ 28.47
12/31/2022 $ 18.58
(b)
Our NEOs received PRSUs during each of the periods presented, that are subject to the achievement of designated performance criteria, based on three-year total shareholder return. These PRSUs are valued based upon the Monte Carlo simulation method. Please see below for the per share fair value as of each respective date:
Per Share Fair Value at…
Award
Grant Date
Grant Date
12/31/2019
12/31/2020
12/31/2021
12/31/2022
2018PRSU(c) 10/1/2018 $ 15.58 $ 25.01 $ 31.99
2019PRSU(d) 3/14/2019 $ 14.46 $ 20.36 $ 24.81 $ 56.29
2020PRSU(d) 3/17/2020 $ 10.59 $ 18.92 $ 43.47 $ 29.82
2021PRSU(e) 3/12/2021 $ 27.81 $ 40.60 $ 24.76
2022PRSU(e) 3/17/2022 $ 45.28 $ 22.27
(c)
Granted to Dr. Miller only.
(d)
Granted to Drs. Miller, Devasahayam, and Porshnev, and Mr. Kiernan.
(e)
Granted to Drs. Miller, Devasahayam, and Porshnev, Mr. Kiernan, and Ms. Wilkerson.
               
Compensation Actually Paid vs. Total Shareholder Return [Text Block]
The graph below reflects the relationships between the PEO and Average Non-PEO NEO Compensation Actually Paid (“CAP”), and the Company’s cumulative indexed Total Shareholder Return, or TSR (assuming an initial fixed investment of $100), and our Peer Group TSR (assuming an initial fixed investment of $100), for the fiscal years ended December 31, 2020, 2021, and 2022:
[MISSING IMAGE: lc_ceoneopay-4clr.jpg]
               
Compensation Actually Paid vs. Company Selected Measure [Text Block]
The graph below reflects the relationships between the PEO and Average Non-PEO NEO Compensation Actually Paid (“CAP”) and the Company’s reported GAAP Net Income and Adjusted Operating Income for the fiscal years ended December 31, 2020, 2021, and 2022:
[MISSING IMAGE: lc_relatpaynetin-4clr.jpg]
               
Tabular List [Table Text Block]
The Company’s most important performance measures for each of the PEO and non-PEO NEOs is discussed under the 2022 Management Bonus Plan (the “2022 Plan”) subsection of the Compensation Discussion and Analysis section of this proxy. As more fully described in this subsection, the 2022 Plan was based on the financial performance of the Company as measured by Adjusted Operating Income. This financial metric was selected because it closely aligns operating performance with earnings per share, a key driver of shareholder value. Under the 2022 Plan, 25% of each participant’s bonus was based on individual performance which, for each of the PEO and non-PEO NEOs, factored financial goals incorporating revenue, gross margin, bookings and expenses.
               
Total Shareholder Return Amount $ 126.48 193.81 118.18            
Peer Group Total Shareholder Return Amount 36.09 81.82 132.76            
Net Income (Loss) $ 166,942,000 $ 26,038,000 $ (8,391,000)            
Company Selected Measure Amount 116,600 104,300 66,900            
PEO Name Dr. Miller Dr. Miller Dr. Miller            
Share Price | $ / shares $ 18.58 $ 28.47 $ 17.36       $ 14.69    
Grand Date Value of Performance-Based Restricted Stock Units, Grant Date 10/1/2018 | $ / shares                 $ 15.58
Fair Value of Performance-Based Restricted Stock Units, Grant Date 10/1/2018 | $ / shares     31.99       25.01    
Grand Date Value of Performance-Based Restricted Stock Units, Grant Date 3/14/2019 | $ / shares               $ 14.46  
Fair Value of Performance-Based Restricted Stock Units, Grant Date 3/14/2019 | $ / shares   56.29 24.81       $ 20.36    
Grand Date Value of Performance-Based Restricted Stock Units, Grant Date 3/17/2020 | $ / shares           $ 10.59      
Fair Value of Performance-Based Restricted Stock Units, Grant Date 3/17/2020 | $ / shares 29.82 43.47 $ 18.92            
Grand Date Value of Performance-Based Restricted Stock Units, Grant Date 3/12/2021 | $ / shares         $ 27.81        
Fair Value of Performance-Based Restricted Stock Units, Grant Date 3/12/2021 | $ / shares 24.76 $ 40.6              
Grand Date Value of Performance-Based Restricted Stock Units, Grant Date 3/17/2022 | $ / shares       $ 45.28          
Fair Value of Performance-Based Restricted Stock Units, Grant Date 3/17/2022 | $ / shares $ 22.27                
Measure [Axis]: 1                  
Pay vs Performance Disclosure [Table]                  
Measure Name Adjusted Operating Income                
PEO [Member] | Equity Awards Adjustments, Amounts Reported Under Stock Awards and Option Awards Columns in SCT [Member]                  
Pay vs Performance Disclosure [Table]                  
Adjustment to Compensation Amount $ (4,741,020) $ (3,122,580) $ (1,121,618)            
PEO [Member] | Equity Awards Adjustments, Year-end Value of Equity Awards Granted in Covered Year hat Were Outstanding and Unvested as of the End of the Covered Fiscal Year [Member]                  
Pay vs Performance Disclosure [Table]                  
Adjustment to Compensation Amount 2,517,420 4,362,540 2,140,579            
PEO [Member] | Equity Awards Adjustments, Change in Fair Values as of Year-end (from End of the Prior year) of Awards Granted in Prior Years and Outstanding at Year-end [Member]                  
Pay vs Performance Disclosure [Table]                  
Adjustment to Compensation Amount (2,779,460) 4,456,145 1,868,289            
PEO [Member] | Equity Awards Adjustments, Change in Fair Values as of the Vesting Date (from End of the Prior Year) of Awards Granted in Any Prior Fiscal Year for Which Vesting Conditions were Satisfied During the Covered Fiscal Year [Member]                  
Pay vs Performance Disclosure [Table]                  
Adjustment to Compensation Amount (17,073) 2,879,634 (165,785)            
Non-PEO NEO [Member] | Equity Awards Adjustments, Amounts Reported Under Stock Awards and Option Awards Columns in SCT [Member]                  
Pay vs Performance Disclosure [Table]                  
Adjustment to Compensation Amount (1,135,870) (813,172) (460,253)            
Non-PEO NEO [Member] | Equity Awards Adjustments, Year-end Value of Equity Awards Granted in Covered Year hat Were Outstanding and Unvested as of the End of the Covered Fiscal Year [Member]                  
Pay vs Performance Disclosure [Table]                  
Adjustment to Compensation Amount 603,132 1,136,078 780,839            
Non-PEO NEO [Member] | Equity Awards Adjustments, Change in Fair Values as of Year-end (from End of the Prior year) of Awards Granted in Prior Years and Outstanding at Year-end [Member]                  
Pay vs Performance Disclosure [Table]                  
Adjustment to Compensation Amount (737,886) 828,795 56,706            
Non-PEO NEO [Member] | Equity Awards Adjustments, Change in Fair Values as of the Vesting Date (from End of the Prior Year) of Awards Granted in Any Prior Fiscal Year for Which Vesting Conditions were Satisfied During the Covered Fiscal Year [Member]                  
Pay vs Performance Disclosure [Table]                  
Adjustment to Compensation Amount $ (89,499) $ 89,435 $ (32,272)