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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 27, 2024
Dec. 29, 2023
Dec. 30, 2022
Dec. 31, 2021
Dec. 25, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE
The disclosure included in this section is prescribed by SEC rules and does not necessarily align with how the Company or the HRCC views the link between the Company’s performance and its NEO’s pay. For a discussion of how the Company views its executive compensation structure, including alignment with Company performance, see the discussion at the beginning of the section entitled “Compensation of Executive Officers — Compensation Discussion and Analysis.”
In accordance with SEC rules, the following table and supporting narrative contain information regarding compensation actually paid (“CAP”). Neither CAP nor the amount reported in the Summary Compensation Table (“SCT”) reflect the amount of compensation actually paid, earned or received during the applicable year. Per SEC rules, CAP was calculated by adjusting SCT total compensation values for the applicable year as described in the footnotes to the following table.
The HRCC did not consider the pay versus performance data presented below in making its pay decisions for any of the years shown.
Pay Versus Performance Table
Value of Initial Fixed $100
Investment Based On:
Year
SCT Total
for CEO #1

($)(1)
SCT Total
for CEO #2

($)(2)
CAP to
CEO #1
($)
(1)
CAP Paid
to CEO #2

($)(2)
Average
SCT Total
for Other
NEOs

($)(3)
Average
CAP to
Other
NEOs

($)(3)
Total
Shareholder
Return

($)(4)
Peer Group
Total
Shareholder
Return

($)(5)
GAAP
Net
Income
(Loss)
(millions)
Adjusted
Operating
Cash Flow
(millions)
(6)
2024
N/A
$ 27,251,192
N/A
$ 24,342,316 $ 5,121,209 $ 4,503,031
N/A
N/A $ 459 $ 494
2023
N/A
$ 14,089,756
N/A
$ 524,667 $ 6,659,753 $ 3,028,813
N/A
N/A $ (1,670) $ 557
2022 $ 6,626,033 $ 6,431,741 $ 6,626,033 $ 5,514,924 $ 2,854,557 $ 2,650,330
$42
$ 111 $ (911) $ 692
2021 $ 8,975,983
N/A
$ 8,978,348
N/A
$ 3,329,371 $ 3,327,359
N/A
N/A $ (717) $ 829
2020 $ 14,887,538
N/A
$ 13,838,104
N/A
$ 4,497,889 $ 4,249,842
N/A
N/A $ (945) $ 866
(1)
Mark Trudeau served as our CEO in 2020, 2021, and 2022.
(2)
Sigurdur O. Olafsson served as our CEO in 2022, 2023 and 2024.
(3)
Our other NEOs serving in 2020 were Bryan M. Reasons, Hugh M. O’Neill, Steven J. Romano and Mark J. Casey. Our other NEOs serving in 2021 were Mr. O’Neill and Dr. Romano. Our other NEOs serving in 2022 were Mr. Reasons, Mr. O’Neill, Dr. Romano, Mark A. Tyndall, Stephen Welch and Henriette Nielsen. Our other NEOs serving in 2023 were Mr. Reasons and Dr. Richardson. Our other NEOs serving in 2024 were Mr. Reasons, Ms. Nielsen, Ms. French and Mr. Tyndall.
(4)
Assumes a hypothetical initial investment of $100 in new ordinary shares issued on June 17, 2022. The 2022 Total Shareholder Return (“TSR”) covers the period from June 17, 2022 through December 30, 2022, reflecting the portion of fiscal 2022 after our emergence from the 2020 Bankruptcy Proceedings. TSR is not applicable for fiscal years 2020 and 2021 as the Company’s stock ceased being traded in connection with the 2020 Bankruptcy Proceedings. TSR is not applicable for fiscal years 2023 and 2024 as the Company’s stock ceased being traded in connection with the 2023 Bankruptcy Proceedings.
(5)
Peer Group used for TSR comparisons reflects the NYSE Pharmaceuticals Index. The 2022 TSR covers the period from June 17, 2022 through December 30, 2022, reflecting the portion of fiscal 2022 after our emergence from the 2020 Bankruptcy Proceedings.
(6)
SEC rules require us to designate a “company-selected measure” that in our assessment represents the most important financial performance measure (other than total shareholder return, stock price, or net income) used by us to link the CAP of our NEOs, for the most recently completed fiscal year, to our performance. For 2024, we selected adjusted operating cash flow. See the section entitled “— Fiscal 2024 Executive Compensation Decisions — 2024 STIP Awards” for an explanation of how adjusted operating cash flow is derived from our audited financial statements.
To calculate CAP for our CEOs and other NEOs, the following adjustments were made to SCT total pay.
PEO #1: Mr. Trudeau
PEO #2: Mr. Olafsson
2020
2021
2022
2023
2024
2020
2021
2022
2023
2024
SCT Total $ 14,887,538 $ 8,975,983 $ 6,626,033 N/A N/A N/A N/A $ 6,431,741 $ 14,089,756 $ 27,251,192
Equity Deductions
Deduction for amounts reported in
the “Stock Awards” column in the
SCT for applicable fiscal year
$ 0 $ 0 $ 0 N/A N/A N/A N/A $ (4,580,263) $ (10,000,012) $ (11,864,619)
Deduction for amounts reported in
the “Option Awards” column in the
SCT for applicable fiscal year
$ 0 $ 0 $ 0 N/A N/A N/A N/A $ 0 $ 0 $ 0
Equity Change in Fair Value
Year End Fair Value of Current Year
Equity Awards
$ 0 $ 0 $ 0 N/A N/A N/A N/A $ 3,663,446 $ 0 $ 8,955,743
Year over Year Change in Fair Value
of Outstanding and Unvested
Equity Awards
$ (672,936) $ 0 $ 0 N/A N/A N/A N/A $ 0 $ 0 $ 0
Year over Year Change in Fair Value
of Equity Awards Granted in Prior
Year that Vested in the Year
$ (184,900) $ 2,365 $ 0 N/A N/A N/A N/A $ 0 $ (483,585) $ 0
Fair Value as of Vesting Date of Equity Awards Granted and Vested in the year
$ 0 $ 0 $ 0 N/A N/A N/A N/A $ 0 $ 0 $ 0
Fair Value at the End of the Prior
Year of Equity Awards that Failed
to Meet Vesting Conditions in the
Year
$ (191,599) $ 0 $ 0 N/A N/A N/A N/A $ 0 $ (3,081,492) $ 0
Average Value of Dividends or other
Earnings Paid on Stock or Option
Awards not Otherwise Reflected
in Fair Value of Total
Compensation
$ 0 $ 0 $ 0 N/A N/A N/A N/A $ 0 $ 0 $ 0
CAP $ 13,838,104 $ 8,978,348 $ 6,626,033 N/A N/A N/A N/A $ 5,514,924 $ 524,667 $ 24,342,316
Average Other NEOs(1)
2020
2021
2022
2023
2024
SCT Total $ 4,497,889 $ 3,329,371 $ 2,854,557 $ 6,659,753 $ 5,121,209
Equity Deductions
Deduction for amounts reported in the “Stock Awards” column in the SCT for applicable fiscal year
$ 0 $ 0 $ (1,017,838) $ (2,728,094) $ (2,521,240)
Deduction for amounts reported in the “Option Awards” column in the SCT for applicable fiscal year
$ 0 $ 0 $ 0 $ 0 $ 0
Equity Change in Fair Value
Year End Fair Value of Current Year Equity Awards
$ 0 $ 0 $ 814,101 $ 0 $ 1,903,063
Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards
$ (186,366) $ (3,253) $ (352) $ 0 $ 0
Year over Year Change in Fair Value of
Equity Awards Granted in Prior Year that
Vested in the Year
$ (38,059) $ 1,241 $ (138) $ (132,472) $ 0
Fair Value as of Vesting Date of Equity
Awards Granted and Vested in the year
$ 0 $ 0 $ 0 $ 0 $ 0
Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year
$ (23,621) $ 0 $ 0 $ (770,375) $ 0
Average Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value of Total Compensation
$ 0 $ 0 $ 0 $ 0 $ 0
CAP $ 4,249,842 $ 3,327,359 $ 2,650,330 $ 3,028,813 $ 4,503,031
(1)
On November 14, 2023, in connection with our Emergence from the 2023 Bankruptcy Proceedings and the cancellation of all of our then-existing ordinary shares, all outstanding equity-based awards under the 2022 Plan were automatically cancelled without consideration and the 2022 Plan was of no further force and effect with respect to any equity-based awards thereunder. As a result, there were no outstanding equity awards at 2023 fiscal year-end.
The equity awards included above are comprised of PSUs, RSUs and stock options granted from 2016 through 2024. The following assumptions underpin the fair value calculations.
Fair values for PSUs subject to market-based measures such as Relative TSR have been calculated using a Monte Carlo valuation model. As a result of the cancellation of all of the outstanding PSUs in December 2020 due to none of the performance targets having potential to be met, no valuations were required for the 2021 measurement year. As a result of the cancellation of all of the outstanding PSUs following our emergence from the 2023 Bankruptcy Proceedings on November 14, 2023, no valuations were required for the 2023 measurement year. Fair values for stock options have been calculated using a Black-Scholes valuation model as of the relevant measurement date.
       
Company Selected Measure Name Adjusted Operating Cash Flow        
Named Executive Officers, Footnote
(1)
Mark Trudeau served as our CEO in 2020, 2021, and 2022.
(2)
Sigurdur O. Olafsson served as our CEO in 2022, 2023 and 2024.
(3)
Our other NEOs serving in 2020 were Bryan M. Reasons, Hugh M. O’Neill, Steven J. Romano and Mark J. Casey. Our other NEOs serving in 2021 were Mr. O’Neill and Dr. Romano. Our other NEOs serving in 2022 were Mr. Reasons, Mr. O’Neill, Dr. Romano, Mark A. Tyndall, Stephen Welch and Henriette Nielsen. Our other NEOs serving in 2023 were Mr. Reasons and Dr. Richardson. Our other NEOs serving in 2024 were Mr. Reasons, Ms. Nielsen, Ms. French and Mr. Tyndall.
       
Peer Group Issuers, Footnote
(5)
Peer Group used for TSR comparisons reflects the NYSE Pharmaceuticals Index. The 2022 TSR covers the period from June 17, 2022 through December 30, 2022, reflecting the portion of fiscal 2022 after our emergence from the 2020 Bankruptcy Proceedings.
       
Non-PEO NEO Average Total Compensation Amount $ 5,121,209 $ 6,659,753 $ 2,854,557 $ 3,329,371 $ 4,497,889
Non-PEO NEO Average Compensation Actually Paid Amount $ 4,503,031 3,028,813 2,650,330 3,327,359 4,249,842
Compensation Actually Paid vs. Net Income
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Compensation Actually Paid vs. Company Selected Measure
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Tabular List, Table
List of Company Performance Measures
The following table lists the measures we believe are most important in linking compensation actually paid to company performance during 2024 (unranked). For further details on these measures and how they feature in our compensation plans, see the section entitled “— Fiscal 2024 Executive Compensation Decisions.”
Measure:
Adjusted operating cash flow
Adjusted EBITDA
Realized Value
       
Total Shareholder Return Amount     42    
Peer Group Total Shareholder Return Amount     111    
Net Income (Loss) $ 459,000,000 $ (1,670,000,000) $ (911,000,000) $ (717,000,000) $ (945,000,000)
Company Selected Measure Amount 494,000,000 557,000,000 692,000,000 829,000,000 866,000,000
PEO Name Sigurdur O. Olafsson        
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted operating cash flow        
Non-GAAP Measure Description
(6)
SEC rules require us to designate a “company-selected measure” that in our assessment represents the most important financial performance measure (other than total shareholder return, stock price, or net income) used by us to link the CAP of our NEOs, for the most recently completed fiscal year, to our performance. For 2024, we selected adjusted operating cash flow. See the section entitled “— Fiscal 2024 Executive Compensation Decisions — 2024 STIP Awards” for an explanation of how adjusted operating cash flow is derived from our audited financial statements.
       
Measure:: 2          
Pay vs Performance Disclosure          
Name Adjusted EBITDA        
Measure:: 3          
Pay vs Performance Disclosure          
Name Realized Value        
Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 1,903,063 $ 0 $ 814,101 $ 0 $ 0
Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 (352) (3,253) (186,366)
Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 (132,472) (138) 1,241 (38,059)
Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 (770,375) 0 0 (23,621)
Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Stock Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,521,240) (2,728,094) (1,017,838) 0 0
Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Sigurdur O. Olafsson [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount 27,251,192 14,089,756 6,431,741    
PEO Actually Paid Compensation Amount 24,342,316 524,667 5,514,924    
Mark Trudeau [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount     6,626,033 8,975,983 14,887,538
PEO Actually Paid Compensation Amount     6,626,033 8,978,348 13,838,104
PEO | Sigurdur O. Olafsson [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 8,955,743 0 3,663,446    
PEO | Sigurdur O. Olafsson [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0    
PEO | Sigurdur O. Olafsson [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 (483,585) 0    
PEO | Sigurdur O. Olafsson [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0    
PEO | Sigurdur O. Olafsson [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 (3,081,492) 0    
PEO | Sigurdur O. Olafsson [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0    
PEO | Sigurdur O. Olafsson [Member] | Stock Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (11,864,619) (10,000,012) (4,580,263)    
PEO | Sigurdur O. Olafsson [Member] | Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0 $ 0 0    
PEO | Mark Trudeau [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     0 0 0
PEO | Mark Trudeau [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     0 0 (672,936)
PEO | Mark Trudeau [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     0 2,365 (184,900)
PEO | Mark Trudeau [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     0 0 0
PEO | Mark Trudeau [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     0 0 (191,599)
PEO | Mark Trudeau [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     0 0 0
PEO | Mark Trudeau [Member] | Stock Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     0 0 0
PEO | Mark Trudeau [Member] | Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     $ 0 $ 0 $ 0