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TIME
|
| | 3:00 P.M. Eastern Time on Wednesday, May 12, 2021 | |
|
PLACE
|
| | http://web.lumiagm.com/271307858 | |
|
RECORD DATE
|
| | You are entitled to vote only if you were a stockholder of record at the close of business on March 16, 2021. | |
| | |
Proposal
|
| |
Board Recommendation
|
| |
See Page
|
|
(1) | | | To elect four Class I directors for three-year terms expiring at the 2024 annual meeting of stockholders once their respective successors have been duly elected and qualified or until their earlier resignation or removal. | | | FOR each Nominee | | |
8
|
|
(2) | | | To ratify the appointment of Ernst & Young LLP as independent auditors for our 2021 fiscal year. | | | FOR | | |
20
|
|
(3) | | | To approve, by non-binding vote, the compensation paid to our named executive officers for the fiscal year ended December 31, 2020, as disclosed in these proxy materials (commonly known as a “say-on-pay” proposal). | | | FOR | | |
49
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(4) | | | To approve amendments to our Restated Certificate of Incorporation (the “Charter”) to declassify our Board of Directors. | | | FOR | | |
54
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(5) | | | To approve amendments to our Charter to eliminate supermajority voting requirements and other obsolete provisions, including the elimination of Class B Common Stock and Class C Common Stock. | | | FOR | | |
56
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(6) | | | To transact such other business as may properly be brought before the Annual Meeting or any adjournment or postponement thereof. | | | FOR | | |
58
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|
Name
|
| |
Age
|
| |
Director Since
|
| |
Principal Occupation
|
| |
Committees
|
|
Norman H. Axelrod | | |
68
|
| | December 2011 | | | Former CEO of Linen ‘n Things | | | Compensation Committee | |
Ryan Marshall | | |
46
|
| | January 2021 | | | President and CEO of PulteGroup, Inc. | | | Audit Committee | |
Richard L. Sullivan | | |
64
|
| | April 2017 | | | CEO of PGA Tour Superstore | | | Audit Committee | |
Felicia D. Thornton | | |
57
|
| | April 2017 | | | Vice Chair of the Board of Directors of 99 Cents Only Stores LLC | | | Audit Committee and Nominating and Corporate Governance Committee | |
| | |
Proposal
|
| |
Vote Required
|
|
1 | | | The election of four Class I directors | | | A “FOR” vote by a majority of votes cast | |
2 | | | The ratification of EY as independent auditors for our 2021 fiscal year | | | A “FOR” vote by a majority of votes cast | |
3 | | | The Say-On-Pay Proposal | | | A “FOR” vote by a majority of votes cast | |
4 | | | The amendment of our Charter to declassify the Board | | | A “FOR” vote by a two-thirds majority of votes entitled to be cast | |
5 | | | The amendment of our Charter to eliminate supermajority voting and other obsolete provisions, including eliminating our Class B and Class C Common Stock | | | A “FOR” vote by a two-thirds majority of votes entitled to be cast | |
Skills & Experience
|
| |
Norman A.
Axelrod |
| |
Ryan
Marshall |
| |
Richard L.
Sullivan |
| |
Felicia D.
Thornton |
| |
Charles
Young |
| |
Thomas V.
Taylor |
| |
Kamy
Scarlett |
| |
David B.
Kaplan |
| |
Peter M.
Starrett |
| |
George
Vincent West |
| ||||||||||||||||||||||||||||||
Audit & Financial Expertise | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | X | | | | | | X | | |
Corporate Strategy & Business Development | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
Corporate Governance | | | | | | | | | | | X | | | | | | | | | | | | X | | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | X | | | | | | | | |
Ethics/Social Responsibility Oversight | | | | | | | | | | | X | | | | | | | | | | | | X | | | | | | | | | | | | | | | | | | X | | | | | | | | | | | | | | | | | | | | |
Consumer Goods | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | X | | |
Retail Chains | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
CEO | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | |
Mergers & Acquisitions | | | | | | | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | | | |
Risk Oversight | | | | | | | | | | | X | | | | | | | | | | | | X | | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | | | | | | | | | |
Company Founder | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | | | | | | | X | | |
Real Estate | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
Home Improvement | | | | | X | | | | | | | | | | | | X | | | | | | | | | | | | | | | | | | X | | | | | | | | | | | | | | | | | | | | | | | | X | | |
High Growth | | | | | | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
Digital/Omni-Channel | | | | | | | | | | | | | | | | | X | | | | | | X | | | | | | | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | | | |
Human Capital/Compensation Oversight | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
International | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | | | |
Commercial or B-to-B | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | | | | | | | X | | |
Demographic Background | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Years on Board | | | | | 9.1 | | | | | |
Less than1 |
| | | | | 3.8 | | | | | | 3.8 | | | | | |
Less than1 |
| | | | | 8.1 | | | | | |
Less than1 |
| | | | | 10.3 | | | | | | 10.2 | | | | | | 21 | | |
Gender | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Male | | | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | | | | | | | X | | | | | | X | | | | | | X | | |
Female | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | | | | | | | | | | | | | X | | | | | | | | | | | | | | | | | | | | |
Age | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 68 | | | | | | 46 | | | | | | 64 | | | | | | 57 | | | | | | 52 | | | | | | 55 | | | | | | 57 | | | | | | 53 | | | | | | 73 | | | | | | 66 | | |
Race/Ethnicity | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
African American/Black | | | | | | | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Asian, Hawaiian, or Pacific Islander | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
White/Caucasian | | | | | X | | | | | | X | | | | | | X | | | | | | | | | | | | | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
Hispanic/Latino | | | | | | | | | | | | | | | | | | | | | | | X | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Number of Public Boards
|
| | | | 1 | | | | | | 2 | | | | | | 1 | | | | | | 3 | | | | | | 2 | | | | | | 2 | | | | | | 1 | | | | | | 2 | | | | | | 2 | | | | | | 1 | | |
| | |
Fiscal 2020
|
| |
Fiscal 2019
|
| ||||||
Audit Fees
|
| | | $ | 1,907,928(1) | | | | | $ | 2,423,577(1) | | |
Audit-Related Fees
|
| | | | — | | | | | | — | | |
Tax Fees
|
| | | | 448,687(2) | | | | | | 155,000(2) | | |
All Other Fees
|
| | | | — | | | | | | — | | |
| | | | $ | 2,356,615 | | | | | $ | 2,578,577 | | |
Name
|
| |
Age
|
| |
Position
|
|
Thomas V. Taylor
|
| |
55
|
| | Chief Executive Officer and a Director | |
Trevor S. Lang
|
| |
50
|
| | Executive Vice President and Chief Financial Officer | |
Lisa G. Laube
|
| |
58
|
| | President | |
Brian K. Robbins
|
| |
63
|
| |
Executive Vice President, Business Development Strategy
|
|
David V. Christopherson
|
| |
46
|
| | Executive Vice President, Secretary and General Counsel | |
Steven A. Denny
|
| |
57
|
| | Executive Vice President, Store Operations | |
|
Core Principles
|
| |||
|
Simplicity and Transparency
|
| | Base salary, incentive compensation and equity awards should be easy for executives and for our shareholders to understand. | |
|
Linked to our Strategy
|
| | Our pay design should create a direct bridge to our strategy, and clearly reflect our key short- and long-term business objectives. | |
| Attractive Compensation for Top Talent | | |
Pay quantums and design should be compelling enough to attract the best talent we can to support the successful execution of our strategies.
|
|
|
Pay for Performance
|
| | Compensation should be paid only when financial performance levels are achieved that align with the strategic and financial priorities set by the Board. | |
|
Appropriate Risk Orientation
|
| | The more senior a role, the more the total mix of that role’s compensation should be “at risk.” However, our compensation programs should be designed to not encourage excessive or unnecessary risk-taking. | |
|
What We Do
|
| |
What We Don’t Do
|
|
|
✓
Pay-for-Performance: Majority of fiscal year pay is performance-based and not guaranteed
|
| |
X
No Excise Tax Gross-ups: The Company does not provide any excise tax gross-up payments in connection with a change in control
|
|
|
✓
Annual Compensation Risk Review: Annually assess risk in compensation programs
|
| |
X
No Tax Gross-ups for Perquisites: The Company does not provide tax gross-ups to NEOs for the limited perquisites we provide
|
|
|
✓
Share Ownership Guidelines: NEOs must comply with share ownership requirements
|
| |
X
No Hedging or Pledging: NEOs are prohibited from engaging in hedging transactions, pledging Company stock as collateral and similar arrangements with respect to the Company’s securities
|
|
Name
|
| |
Fiscal 2019
Base Salary |
| |
Fiscal 2020
Base Salary |
| ||||||
Thomas V. Taylor
|
| | | $ | 950,000 | | | | | $ | 1,000,000 | | |
Trevor S. Lang
|
| | | $ | 435,000 | | | | | $ | 460,000 | | |
Lisa G. Laube
|
| | | $ | 505,000 | | | | | $ | 555,000 | | |
Brian K. Robbins
|
| | | $ | 400,000 | | | | | $ | 420,000 | | |
David V. Christopherson
|
| | | $ | 345,000 | | | | | $ | 375,000 | | |
Name
|
| |
Percentage of Base
Salary Waived |
| |
Amount of Fiscal
2020 Base Salary Waived |
| ||||||
Thomas V. Taylor
|
| | | | 100% | | | | | $ | 277,459 | | |
Trevor S. Lang
|
| | | | 50% | | | | | $ | 53,077 | | |
Lisa G. Laube
|
| | | | 50% | | | | | $ | 64,038 | | |
Brian K. Robbins
|
| | | | 30% | | | | | $ | 19,385 | | |
David V. Christopherson
|
| | | | 30% | | | | | $ | 17,308 | | |
Performance Metric
|
| |
Target
($s in millions) |
| |
Actual
($s in millions) |
| |
Percentage of
Target (%) |
| |
Weighting
(%) |
| |
Payout
(%) |
| |||||||||||||||
Net Sales
|
| | | $ | 2,512.7 | | | | | $ | 2,425.8 | | | | | | 96.5% | | | | | | 20% | | | | | | 40.3% | | |
Operating Income*
|
| | | $ | 197.1 | | | | | $ | 218.2 | | | | | | 110.7% | | | | | | 80% | | | | | | 154.4% | | |
Name
|
| |
Target Annual
Incentive |
| |
Target Annual
Incentive % |
| |
Annual Incentive
Payout |
| |
Actual Payout
Percentage |
| ||||||||||||
Thomas V. Taylor
|
| | | $ | 990,385 | | | | | | 100% | | | | | $ | 1,303,143 | | | | | | 131.6% | | |
Trevor S. Lang
|
| | | $ | 295,875 | | | | | | 65% | | | | | $ | 389,311 | | | | | | 131.6% | | |
Lisa G. Laube
|
| | | $ | 381,769 | | | | | | 70% | | | | | $ | 502,330 | | | | | | 131.6% | | |
Brian K. Robbins
|
| | | $ | 249,692 | | | | | | 60% | | | | | $ | 328,544 | | | | | | 131.6% | | |
David V. Christopherson
|
| | | $ | 221,539 | | | | | | 60% | | | | | $ | 291,499 | | | | | | 131.6% | | |
Name
|
| |
Stock Options
Granted (#) |
| |
Restricted Shares
Granted (#) |
| ||||||
Thomas V. Taylor
|
| | | | 56,500 | | | | | | 7,150 | | |
Trevor S. Lang
|
| | | | 16,265 | | | | | | 2,059 | | |
Lisa G. Laube
|
| | | | 17,978 | | | | | | 2,275 | | |
Brian K. Robbins
|
| | | | 10,342 | | | | | | 1,309 | | |
David V. Christopherson
|
| | | | 10,342 | | | | | | 1,309 | | |
|
Adjusted EBIT
|
| |
Equal to or greater than $328,800,000*
|
|
|
Average
Adjusted EBIT ROIC |
| |
Equal to or greater than 15%
|
|
|
Aaron’s, Inc.
Ethan Allen Interiors Inc. KB Home Leggett & Platt, Incorporated Lumber Liquidators Holdings, Inc. Meritage Homes Corporation RH The Home Depot, Inc. TopBuild Corp. TRI Pointe Group, Inc. Williams-Sonoma, Inc. |
| |
At Home Group Inc.
Haverty Furniture Companies, Inc. La-Z-Boy Incorporated Lowe’s Companies, Inc. M.D.C. Holdings, Inc. Mohawk Industries, Inc. Tempur Sealy International, Inc. Toll Brothers, Inc. Tractor Supply Company Sleep Number Corporation |
|
| | | | | | | | |
Vesting Criteria Applicable to PRSs
|
| |||||||||||||||
Name
|
| |
PRSs Granted
(#) |
| |
Adjusted EBIT /
Average Adjusted EBIT ROIC PRSs (#)(1) |
| |
rTSR PRSs
(#)(2) |
| |
Service PRSs
(#)(3) |
| ||||||||||||
Thomas V. Taylor
|
| | | | 186,445 | | | | | | 86,656 | | | | | | 56,461 | | | | | | 43,328 | | |
Trevor S. Lang
|
| | | | 55,935 | | | | | | 25,997 | | | | | | 16,939 | | | | | | 12,999 | | |
Lisa G. Laube
|
| | | | 55,935 | | | | | | 25,997 | | | | | | 16,939 | | | | | | 12,999 | | |
Brian K. Robbins
|
| | | | 27,969 | | | | | | 12,999 | | | | | | 8,470 | | | | | | 6,500 | | |
David V. Christopherson
|
| | | | 18,646 | | | | | | 8,666 | | | | | | 5,647 | | | | | | 4,333 | | |
|
Conn’s, Inc.
Party City Holdco Inc. La-Z-Boy Incorporated Lumber Liquidators Holdings, Inc. Sleep Number Corporation RH Carter’s, Inc. Grocery Outlet Holding Corp. |
| |
Lululemon Athletica Inc.
Tempur Sealy International, Inc. Five Below, Inc. Ollie’s Bargain Outlet Holdings, Inc. At Home Group Inc. Deckers Outdoor Corporation Steven Madden, Ltd. Aaron’s, Inc. Columbia Sportswear Company |
|
|
Group
|
| |
Required ownership
|
|
|
Chief Executive Officer
|
| |
5 times annual base salary
|
|
|
Executive Vice Presidents / President
|
| |
3 times annual base salary
|
|
|
Senior Vice Presidents
|
| |
2 times annual base salary
|
|
|
Non-employee directors
|
| |
5 times annual cash retainer
|
|
Name and Principal Position
|
| |
Fiscal
Year |
| |
Salary
($)(1) |
| |
Bonus
($)(2) |
| |
Stock
Awards ($)(3) |
| |
Option
awards ($)(3) |
| |
Non-equity
incentive plan compensation ($) |
| |
All other
compensation ($)(4) |
| |
Total($)
|
| ||||||||||||||||||||||||
Thomas V. Taylor – Chief Executive Officer
|
| | | | 2020 | | | | | | 762,925 | | | | | | — | | | | | | 10,412,500 | | | | | | 1,237,500 | | | | | | 1,303,143 | | | | | | 213,447 | | | | | | 13,929,515 | | |
| | | 2019 | | | | | | 950,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,164,274 | | | | | | 308,569 | | | | | | 2,422,843 | | | ||
| | | 2018 | | | | | | 927,885 | | | | | | — | | | | | | — | | | | | | 1,980,000 | | | | | | 716,485 | | | | | | 98,938 | | | | | | 3,723,308 | | | ||
Trevor S. Lang – Executive
Vice President and Chief Financial Officer |
| | | | 2020 | | | | | | 402,115 | | | | | | — | | | | | | 3,118,750 | | | | | | 356,250 | | | | | | 389,311 | | | | | | 6,763 | | | | | | 4,273,189 | | |
| | | 2019 | | | | | | 435,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 346,525 | | | | | | 6,293 | | | | | | 787,818 | | | ||
| | | 2018 | | | | | | 432,558 | | | | | | — | | | | | | — | | | | | | 570,000 | | | | | | 217,105 | | | | | | 6,187 | | | | | | 1,225,850 | | | ||
Lisa G. Laube – President(3)(5)
|
| | | | 2020 | | | | | | 481,346 | | | | | | — | | | | | | 3,131,250 | | | | | | 393,750 | | | | | | 502,330 | | | | | | 8,022 | | | | | | 4,516,698 | | |
| | | 2019 | | | | | | 505,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 402,287 | | | | | | 7,922 | | | | | | 915,209 | | | ||
| | | 2018 | | | | | | 502,116 | | | | | | — | | | | | | — | | | | | | 630,000 | | | | | | 252,017 | | | | | | 7,808 | | | | | | 1,391,941 | | | ||
Brian K. Robbins – Executive Vice
President, Business Development Strategy |
| | | | 2020 | | | | | | 396,769 | | | | | | 40,000 | | | | | | 1,575,500 | | | | | | 226,500 | | | | | | 328,544 | | | | | | 8,472 | | | | | | 2,575,785 | | |
| | | 2019 | | | | | | 400,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 294,132 | | | | | | 8,372 | | | | | | 702,504 | | | ||
| | | 2018 | | | | | | 392,368 | | | | | | — | | | | | | — | | | | | | 362,400 | | | | | | 181,785 | | | | | | 8,187 | | | | | | 944,740 | | | ||
David V. Christopherson –
Executive Vice President, Secretary and General Counsel |
| | | | 2020 | | | | | | 351,923 | | | | | | 40,000 | | | | | | 1,075,500 | | | | | | 226,500 | | | | | | 291,499 | | | | | | 6,231 | | | | | | 1,991,653 | | |
| | | 2019 | | | | | | 345,000 | | | | | | 100,000 | | | | | | 1,000,000 | | | | | | — | | | | | | 232,548 | | | | | | 6,131 | | | | | | 1,683,679 | | | ||
| | | 2018 | | | | | | 340,454 | | | | | | — | | | | | | — | | | | | | 692,600 | | | | | | 142,203 | | | | | | 5,846 | | | | | | 1,181,103 | | |
Name
|
| |
Type of
Award |
| |
Grant
Date or Performance Period |
| |
Estimated Possible
Payouts Under Non-Equity Incentive Plan Awards(1) |
| |
Estimated Possible
Payouts Under Equity Incentive Plan Awards(2) |
| |
All
Other Stock Awards: Number of Shares of Stock or Units (#) |
| |
All
Other Option Awards: Number of Securities Underlying Options (#) |
| |
Exercise
or Base Price of Option Awards ($/Sh) |
| |
Grant
Date Fair Value of Restricted Stock Awards and Option Awards ($)(5) |
| |||||||||||||||||||||||||||||||||||||||||||||
|
Threshold
($) |
| |
Target
($) |
| |
Maximum
($) |
| |
Threshold
(#) |
| |
Target
(#) |
| |
Maximum
(#) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||
Thomas V. Taylor
|
| |
Annual Cash
Incentive Bonus |
| | | | 2/24/2020 | | | | | | — | | | | | | 990,385 | | | | | | 1,980,769 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | |
PRS
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 143,117 | | | | | | 143,117 | | | | | | 43,328(3) | | | | | | — | | | | | | — | | | | | | 10,000,000 | | |
| | |
Restricted Stock
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,150(4) | | | | | | — | | | | | | — | | | | | | 412,500 | | |
| | |
Stock Options
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 56,500 | | | | | | 57.70 | | | | | | 1,237,500 | | |
Trevor S. Lang
|
| |
Annual Cash
Incentive Bonus |
| | | | 2/24/2020 | | | | | | — | | | | | | 295,875 | | | | | | 591,750 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | |
PRS
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 42,936 | | | | | | 42,936 | | | | | | 12,999(3) | | | | | | — | | | | | | — | | | | | | 3,000,000 | | |
| | |
Restricted Stock
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,059(4) | | | | | | — | | | | | | — | | | | | | 118,750 | | |
| | |
Stock Options
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 16,265 | | | | | | 57.70 | | | | | | 356,250 | | |
Lisa G. Laube
|
| |
Annual Cash
Incentive Bonus |
| | | | 2/24/2020 | | | | | | — | | | | | | 381,769 | | | | | | 763,539 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | |
PRS
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 42,936 | | | | | | 42,936 | | | | | | 12,999(3) | | | | | | — | | | | | | — | | | | | | 3,000,000 | | |
| | |
Restricted Stock
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | | | | | | 2,275(4) | | | | | | — | | | | | | — | | | | | | 131,250 | | |
| | |
Stock Options
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 17,978 | | | | | | 57.70 | | | | | | 393,750 | | |
Brian K. Robbins
|
| |
Annual Cash
Incentive Bonus |
| | | | 2/24/2020 | | | | | | — | | | | | | 249,692 | | | | | | 499,385 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | |
PRS
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 21,469 | | | | | | 21,469 | | | | | | 6,500(3) | | | | | | — | | | | | | — | | | | | | 1,500,000 | | |
| | |
Restricted Stock
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,309(4) | | | | | | — | | | | | | — | | | | | | 75,500 | | |
| | |
Stock Options
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,342 | | | | | | 57.70 | | | | | | 226,500 | | |
David V.
Christopherson |
| |
Annual Cash
Incentive Bonus |
| | | | 2/24/2020 | | | | | | — | | | | | | 221,539 | | | | | | 443,077 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | |
PRS
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 14,313 | | | | | | 14,313 | | | | | | 4,333(3) | | | | | | — | | | | | | — | | | | | | 1,000,000 | | |
| | |
Restricted Stock
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,309(4) | | | | | | — | | | | | | — | | | | | | 75,500 | | |
| | |
Stock Options
|
| | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,342 | | | | | | 57.70 | | | | | | 226,500 | | |
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Grant
Date |
| |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Option
Exercise Price ($/Sh) |
| |
Option
Expiration Date |
| |
Number
of shares or units of stock that have not yet vested (#) |
| |
Market
value of shares or units of stock that have not yet vested ($) |
| |
Equity
Incentive Plan Awards: Number Of Unearned Shares, Units Or Other Rights That Have Not Vested (#) |
| |
Equity
Incentive Plan Awards: Market Or Payout Value Of Unearned Shares, Units Or Other Rights That Have Not Vested ($) |
| |||||||||||||||||||||||||||
Thomas V. Taylor (1) | | | | | 12/13/2012 | | | | | | 300,000 | | | | | | — | | | | | | 4.85 | | | | | | 12/13/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 9/30/2016 | | | | | | 214,717 | | | | | | 53,680 | | | | | | 9.99 | | | | | | 9/30/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 4/26/2017 | | | | | | 44,923 | | | | | | 179,695 | | | | | | 21.00 | | | | | | 4/26/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 11/2/2018 | | | | | | 67,650 | | | | | | 67,651 | | | | | | 31.98 | | | | | | 11/2/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | 56,500 | | | | | | 57.70 | | | | | | 2/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,150 | | | | | | 663,878 | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 43,328 | | | | | | 4,023,005 | | | | | | 143,117 | | | | | | 13,288,413 | | |
Trevor S. Lang(2) | | | | | 9/30/2016 | | | | | | 17,968 | | | | | | 16,992 | | | | | | 9.99 | | | | | | 9/30/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 4/26/2017 | | | | | | 12,804 | | | | | | 44,812 | | | | | | 21.00 | | | | | | 4/26/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 11/2/2018 | | | | | | 19,475 | | | | | | 19,476 | | | | | | 31.98 | | | | | | 11/2/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | 16,265 | | | | | | 57.70 | | | | | | 2/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,059 | | | | | | 191,178 | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 12,999 | | | | | | 1,206,957 | | | | | | 42,936 | | | | | | 3,986,608 | | |
Lisa G. Laube(3) | | | | | 2/23/2012 | | | | | | 62,033 | | | | | | — | | | | | | 2.85 | | | | | | 2/23/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/23/2012 | | | | | | 13,093 | | | | | | — | | | | | | 4.33 | | | | | | 2/23/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 9/30/2016 | | | | | | 57,176 | | | | | | 18,795 | | | | | | 9.99 | | | | | | 9/30/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 4/26/2017 | | | | | | 21,225 | | | | | | 49,529 | | | | | | 21.00 | | | | | | 4/26/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 11/2/2018 | | | | | | 21,525 | | | | | | 21,526 | | | | | | 31.98 | | | | | | 11/2/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | 17,978 | | | | | | 57.70 | | | | | | 2/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,275 | | | | | | 211,234 | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 12,999 | | | | | | 1,206,957 | | | | | | 42,936 | | | | | | 3,986,608 | | |
Brian K. Robbins(4) | | | | | 9/30/2016 | | | | | | — | | | | | | 10,813 | | | | | | 9.99 | | | | | | 9/30/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 4/26/2017 | | | | | | — | | | | | | 16,281 | | | | | | 21.00 | | | | | | 4/26/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 11/2/2018 | | | | | | — | | | | | | 12,383 | | | | | | 31.98 | | | | | | 11/2/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | 10,342 | | | | | | 57.70 | | | | | | 2/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,309 | | | | | | 121,541 | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,500 | | | | | | 603,525 | | | | | | 21,469 | | | | | | 1,993,397 | | |
David V. Christopherson(5) | | | | | 9/30/2016 | | | | | | — | | | | | | 7,853 | | | | | | 9.99 | | | | | | 9/30/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 4/26/2017 | | | | | | — | | | | | | 11,860 | | | | | | 21.00 | | | | | | 4/26/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 3/2/2018 | | | | | | — | | | | | | 9,693 | | | | | | 44.21 | | | | | | 3/2/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 11/2/2018 | | | | | | — | | | | | | 12,383 | | | | | | 31.98 | | | | | | 11/2/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 5/16/2019 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 24,207 | | | | | | 2,247,620 | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | 10,342 | | | | | | 57.70 | | | | | | 2/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,309 | | | | | | 121,541 | | | | | | — | | | | | | — | | |
| | | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,333 | | | | | | 402,319 | | | | | | 14,313 | | | | | | 1,328,962 | | |
| | |
Option Awards
|
| |||||||||
Name
|
| |
Number of Shares
Acquired on Exercise (#) |
| |
Value Realized
on Exercise ($)(1) |
| ||||||
Thomas V. Taylor
|
| | | | 504,871 | | | | | | 30,573,544 | | |
Trevor S. Lang
|
| | | | 401,391 | | | | | | 20,114,539 | | |
Lisa G. Laube
|
| | | | 221,000 | | | | | | 12,141,050 | | |
Brian K. Robbins
|
| | | | 42,148 | | | | | | 2,185,992 | | |
David V. Christopherson
|
| | | | 54,310 | | | | | | 2,610,063 | | |
Name
|
| |
Cash Payments ($)
|
| |
Continuation of
Welfare Plans ($) |
| |
Equity Vesting
($)(6) |
| |||||||||
Thomas V. Taylor | | | | | | | | | | | | | | | | | | | |
Termination Without Cause
|
| | | | 2,940,380(1) | | | | | | 17,156(2) | | | | | | 6,455,522 | | |
Company Non-Renewal/Resignation for Good Reason
|
| | | | 2,940,380(1) | | | | | | 17,156(2) | | | | | | | | |
Death/Disability
|
| | | | 2,000,000(3) | | | | | | | | | | | | | | |
Termination Without Cause Within One Year Following a Change in Control
|
| | | | 4,940,380(4) | | | | | | 17,156(2) | | | | | | 12,911,043 | | |
Resignation for Good Reason Within One Year Following a
Change in Control |
| | | | 4,940,380(4) | | | | | | 17,156(2) | | | | | | | | |
Change in Control
|
| | | | | | | | | | | | | | | | 6,455,522 | | |
Trevor S. Lang | | | | | | | | | | | | | | | | | | | |
Termination Without Cause
|
| | | | 460,000(5) | | | | | | | | | | | | 1,379,865 | | |
Company Non-Renewal/Resignation for Good Reason
|
| | | | 460,000(5) | | | | | | | | | | | | | | |
Change in Control
|
| | | | | | | | | | | | | | | | 1,379,865 | | |
Lisa G. Laube | | | | | | | | | | | | | | | | | | | |
Termination Without Cause
|
| | | | 555,000(5) | | | | | | | | | | | | 1,525,103 | | |
Company Non-Renewal/Resignation for Good Reason
|
| | | | 555,000(5) | | | | | | | | | | | | | | |
Change in Control
|
| | | | | | | | | | | | | | | | 1,525,103 | | |
Brian K. Robbins | | | | | | | | | | | | | | | | | | | |
Termination Without Cause/Company Non-Renewal/Resignation for Good Reason
|
| | | | 420,000(5) | | | | | | | | | | | | | | |
David V. Christopherson | | | | | | | | | | | | | | | | | | | |
Termination Without Cause/Company Non-Renewal/Resignation for Good Reason
|
| | | | 375,000(5) | | | | | | | | | | | | | | |
Name
|
| |
Fees Earned or
Paid in Cash ($) |
| |
Stock Awards ($)
|
| |
All Other
Compensation ($) |
| |
Totals ($)
|
| ||||||||||||
Norman Axelrod (Chairman)
|
| | | $ | 132,500 | | | | | $ | 100,052 | | | | | $ | — | | | | | $ | 232,552 | | |
Peter Starrett
|
| | | $ | 59,375 | | | | | $ | 100,052 | | | | | $ | — | | | | | $ | 159,427 | | |
Vincent West(4)
|
| | | $ | — | | | | | $ | — | | | | | $ | 75,000 | | | | | $ | 75,000 | | |
John Roth(5)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Brad Brutocao(6)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
David Kaplan
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Rachel Lee(7)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Michael Fung(8)
|
| | | $ | 71,250 | | | | | $ | 100,052 | | | | | $ | — | | | | | $ | 171,302 | | |
Richard L. Sullivan
|
| | | $ | 59,375 | | | | | $ | 100,052 | | | | | $ | — | | | | | $ | 159,427 | | |
Felicia D. Thornton
|
| | | $ | 63,750 | | | | | $ | 100,052 | | | | | $ | — | | | | | $ | 163,802 | | |
Name
|
| |
Option Awards
Outstanding |
| |
Restricted Stock
Awards Outstanding |
| ||||||
Axelrod, Norman
|
| | | | — | | | | | | 2,508 | | |
Fung, Michael
|
| | | | — | | | | | | 2,508 | | |
Starrett, Peter
|
| | | | — | | | | | | 2,508 | | |
Sullivan, Richard
|
| | | | — | | | | | | 2,508 | | |
Thornton, Felicia
|
| | | | — | | | | | | 2,508 | | |
Plan Category(1)
|
| |
Number of securities to
be issued upon exercise of outstanding options(2) |
| |
Weighted-average
exercise price of outstanding options(3) |
| |
Number of
securities remaining available for future issuance under the equity compensation plans(4) |
| |||||||||
Equity compensation plans approved by security
holders |
| | | | 3,740,604 | | | | | $ | 20.72 | | | | | | 3,460,087 | | |
Equity compensation plans not approved by security holders
|
| | | | — | | | | | | — | | | | | | — | | |
Name of Beneficial Owner
|
| |
Total
Shares Beneficially Owned(1) |
| |
Total
Percentage Beneficially Owned(1) |
| ||||||
Named Executive Officers and Directors: | | | | | | | | | | | | | |
Thomas V. Taylor
|
| | | | 979,800(2) | | | | | | * | | |
Trevor S. Lang
|
| | | | 245,866(3) | | | | | | * | | |
Lisa G. Laube
|
| | | | 301,612(4) | | | | | | * | | |
Brian K. Robbins
|
| | | | 40,206(5) | | | | | | * | | |
David V. Christopherson
|
| | | | 53,749(6) | | | | | | * | | |
Steven A. Denny
|
| | | | 7,624(7) | | | | | | * | | |
Norman H. Axelrod
|
| | | | 643,131(8) | | | | | | * | | |
George Vincent West
|
| | | | 915,658(9) | | | | | | * | | |
David B. Kaplan
|
| | | | — | | | | | | * | | |
Peter M. Starrett
|
| | | | 168,174(10) | | | | | | * | | |
Richard L. Sullivan
|
| | | | 7,908(11) | | | | | | * | | |
Felicia D. Thornton
|
| | | | 11,448(12) | | | | | | * | | |
Kamy Scarlett(13)
|
| | | | 1,046(14) | | | | | | * | | |
Ryan R. Marshall(15)
|
| | | | 2,434(16) | | | | | | * | | |
Charles D. Young(17)
|
| | | | 1,046(18) | | | | | | * | | |
All directors and executive officers as a group (15 persons)
|
| | | | | | | | | | 3.2% | | |
5% Stockholders: | | | | | | | | | | | | | |
Capital World Investors(19)
|
| | | | 11,351,906(20) | | | | | | 10.9% | | |
The Vanguard Group, Inc.(21)
|
| | | | 8,708,676(22) | | | | | | 8.3% | | |
FMR LLC(23)
|
| | | | 7,293,331(24) | | | | | | 7.0% | | |
BlackRock, Inc.(25)
|
| | | | 6,243,104(26) | | | | | | 6.0% | | |
Sands Capital Management, LLC(27)
|
| | | | 6,007,089(28) | | | | | | 5.7% | | |
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