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Pay vs Performance Disclosure
pure in Millions
12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Pay Versus Performance Table
The following table sets forth additional compensation information for our CEO and our other non-CEO Named Executives (Other NEOs) (averaged) along with total shareholder return, net income, and Adjusted EBITDA performance results for fiscal 2024, 2023, 2022, 2021 and 2020.
Summary
Comp.
Table
Total for
David W.
Huml
($)
(1)
Summary
Comp.
Table Total
for H. Chris
Killingstad
($)
(1)
Comp.
Actually
Paid to
David W. Huml
($)
(1)(2)
Comp.
Actually
Paid to
H. Chris
Killingstad
($)
(1)(2)
Average
Summary
Comp.
Table Total for
Non-CEO NEOs
($)
(1)
Average
Comp.
Actually
Paid to
Non-CEO
NEOs
($)
(1)(2)
Year-end value of $100
invested on 12/31/2019 in:
Net
Income
(in millions)
($)
Adjusted
EBITDA
(in millions)
($)
(4)
Year
Tennant
Company
TSR
($)
S&P 500
Industrials
(Sector)
(TR) TSR
($)
(3)
2024 5,135,239 3,589,214 1,577,830 1,211,401 111.68 176.44 83.7 208.8
2023 5,520,144 11,455,574 1,630,200 2,572,789 125.54 150.20 109.5 192.9
2022 4,104,578 2,122,227 1,325,442 729,779 82.27 127.15 66.3 133.7
2021 4,303,328 2,709,314 4,921,346 4,658,162 1,375,494 1,482,689 106.64 134.52 64.9 140.2
2020 4,245,227 405,184 1,199,543 202,581 91.24 111.06 33.7 119.4
(1)
For 2024, the CEO was David W. Huml (“Current CEO”) and the Other NEOs were Fay West, Richard H. Zay, Kristin A. Erickson, and Barbara A. Balinski.
For 2023, the CEO was David W. Huml and the Other NEOs were Fay West, Richard H. Zay, Carol E. McKnight, Kristin A. Erickson, and Barbara A. Balinski.
For 2022, the CEO was David W. Huml and the Other NEOs were Fay West, Richard H. Zay, Carol E. McKnight, and Kristin A. Erickson.
For 2021, the CEO was H. Chris Killingstad until February 28, 2021, and then David W. Huml became CEO March 1, 2021, and the Other NEOs were Fay West, Richard H. Zay, Carol E. McKnight, Daniel E. Glusick, Thomas Paulson, and Andrew Cebulla.
For 2020, the CEO was H. Chris Killingstad and the Other NEOs were David W. Huml, Richard H. Zay, Carol E. McKnight, Andrew Cebulla, Keith A. Woodward, and Mary E. Talbott.
(2)
For 2024, CAP was determined by making the following adjustments to Summary Compensation Table totals for equity awards:
Current CEO
($)
Average of Other
NEOs
($)
Summary Compensation Table (“SCT”) Total 5,135,239 1,577,830
Adjustments:
SCT Stock and Option Amounts
(3,055,398) (710,477)
Year-end fair value of unvested awards granted in the current year
2,191,608 509,583
Difference between fair value as of prior year-end to fair value as
of the end of 2024 for unvested awards granted in prior years
(1,014,684) (240,747)
Difference in fair values between prior year-end fair values and vesting date fair values for awards granted in prior years for which all applicable vesting conditions were satisfied during fiscal year 2024
310,796 69,801
Forfeitures during current year equal to prior year-end fair value
Dividends paid on vesting of restricted stock grants
21,652 5,411
Compensation Actually Paid
3,589,214 1,211,401
Summary Compensation Table amounts reflect the grant date fair values of equity awards. For CAP calculation purposes, adjustments reflect ASC 718 fair values as of each measurement date. For stock
options, this includes updated assumptions for term, stock price volatility, dividend yield, and risk-free rates. For performance-based restricted stock units, this includes actual and forecasted funding results where appropriate.
(3)
Company and peer group TSR for each year reflects what the cumulative value of $100 would be, including reinvestment of dividends, if such amount were invested on December 31, 2019. For purposes of the table, the Company’s peer group is the S&P 500 Industrials (Sector) (TR), as reflected in our stock performance graph in our Annual Report on Form 10-K, which was filed with the Commission on February 18, 2025.
(4)
Our company-selected measure, which is the measure we believe represents the most important financial performance not otherwise presented in the table above that we use to link CAP to our NEOs for fiscal 2024 to our performance, is adjusted earnings before interest, tax, depreciation and amortization in dollars (“Adjusted EBITDA$”), a non-GAAP measure, which is defined above under “Compensation Discussion and Analysis — Key Compensation Decisions for 2024 – 2024 Incentive Plan Structure.”
       
Company Selected Measure Name Adjusted EBITDA        
Named Executive Officers, Footnote
(1)
For 2024, the CEO was David W. Huml (“Current CEO”) and the Other NEOs were Fay West, Richard H. Zay, Kristin A. Erickson, and Barbara A. Balinski.
For 2023, the CEO was David W. Huml and the Other NEOs were Fay West, Richard H. Zay, Carol E. McKnight, Kristin A. Erickson, and Barbara A. Balinski.
For 2022, the CEO was David W. Huml and the Other NEOs were Fay West, Richard H. Zay, Carol E. McKnight, and Kristin A. Erickson.
For 2021, the CEO was H. Chris Killingstad until February 28, 2021, and then David W. Huml became CEO March 1, 2021, and the Other NEOs were Fay West, Richard H. Zay, Carol E. McKnight, Daniel E. Glusick, Thomas Paulson, and Andrew Cebulla.
For 2020, the CEO was H. Chris Killingstad and the Other NEOs were David W. Huml, Richard H. Zay, Carol E. McKnight, Andrew Cebulla, Keith A. Woodward, and Mary E. Talbott.
       
Peer Group Issuers, Footnote
(3)
Company and peer group TSR for each year reflects what the cumulative value of $100 would be, including reinvestment of dividends, if such amount were invested on December 31, 2019. For purposes of the table, the Company’s peer group is the S&P 500 Industrials (Sector) (TR), as reflected in our stock performance graph in our Annual Report on Form 10-K, which was filed with the Commission on February 18, 2025.
       
Adjustment To PEO Compensation, Footnote
(2)
For 2024, CAP was determined by making the following adjustments to Summary Compensation Table totals for equity awards:
Current CEO
($)
Average of Other
NEOs
($)
Summary Compensation Table (“SCT”) Total 5,135,239 1,577,830
Adjustments:
SCT Stock and Option Amounts
(3,055,398) (710,477)
Year-end fair value of unvested awards granted in the current year
2,191,608 509,583
Difference between fair value as of prior year-end to fair value as
of the end of 2024 for unvested awards granted in prior years
(1,014,684) (240,747)
Difference in fair values between prior year-end fair values and vesting date fair values for awards granted in prior years for which all applicable vesting conditions were satisfied during fiscal year 2024
310,796 69,801
Forfeitures during current year equal to prior year-end fair value
Dividends paid on vesting of restricted stock grants
21,652 5,411
Compensation Actually Paid
3,589,214 1,211,401
Summary Compensation Table amounts reflect the grant date fair values of equity awards. For CAP calculation purposes, adjustments reflect ASC 718 fair values as of each measurement date. For stock
options, this includes updated assumptions for term, stock price volatility, dividend yield, and risk-free rates. For performance-based restricted stock units, this includes actual and forecasted funding results where appropriate.
       
Non-PEO NEO Average Total Compensation Amount $ 1,577,830 $ 1,630,200 $ 1,325,442 $ 1,375,494 $ 1,199,543
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,211,401 2,572,789 729,779 1,482,689 202,581
Adjustment to Non-PEO NEO Compensation Footnote
(2)
For 2024, CAP was determined by making the following adjustments to Summary Compensation Table totals for equity awards:
Current CEO
($)
Average of Other
NEOs
($)
Summary Compensation Table (“SCT”) Total 5,135,239 1,577,830
Adjustments:
SCT Stock and Option Amounts
(3,055,398) (710,477)
Year-end fair value of unvested awards granted in the current year
2,191,608 509,583
Difference between fair value as of prior year-end to fair value as
of the end of 2024 for unvested awards granted in prior years
(1,014,684) (240,747)
Difference in fair values between prior year-end fair values and vesting date fair values for awards granted in prior years for which all applicable vesting conditions were satisfied during fiscal year 2024
310,796 69,801
Forfeitures during current year equal to prior year-end fair value
Dividends paid on vesting of restricted stock grants
21,652 5,411
Compensation Actually Paid
3,589,214 1,211,401
Summary Compensation Table amounts reflect the grant date fair values of equity awards. For CAP calculation purposes, adjustments reflect ASC 718 fair values as of each measurement date. For stock
options, this includes updated assumptions for term, stock price volatility, dividend yield, and risk-free rates. For performance-based restricted stock units, this includes actual and forecasted funding results where appropriate.
       
Compensation Actually Paid vs. Total Shareholder Return
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Compensation Actually Paid vs. Net Income
[MISSING IMAGE: lc_capnetincome-bw.jpg]
       
Compensation Actually Paid vs. Company Selected Measure
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Total Shareholder Return Vs Peer Group [MISSING IMAGE: lc_captsr-bw.jpg]        
Tabular List, Table
Most Important Performance Measures for 2024
Adjusted EBITDA$(1)
Adjusted EBITDA%
(1)
Total Revenue
3-Year Average Incentive ROIC
(1)
3-Year Incentive Cumulative Earnings Per Share
(1)
       
Total Shareholder Return Amount $ 111.68 125.54 82.27 106.64 91.24
Peer Group Total Shareholder Return Amount 176.44 150.2 127.15 134.52 111.06
Net Income (Loss) $ 83,700,000 $ 109,500,000 $ 66,300,000 $ 64,900,000 $ 33,700,000
Company Selected Measure Amount 208.8 192.9 133.7 140.2 119.4
PEO Name David W. Huml        
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted EBITDA$        
Non-GAAP Measure Description
(4)
Our company-selected measure, which is the measure we believe represents the most important financial performance not otherwise presented in the table above that we use to link CAP to our NEOs for fiscal 2024 to our performance, is adjusted earnings before interest, tax, depreciation and amortization in dollars (“Adjusted EBITDA$”), a non-GAAP measure, which is defined above under “Compensation Discussion and Analysis — Key Compensation Decisions for 2024 – 2024 Incentive Plan Structure.”
       
Measure:: 2          
Pay vs Performance Disclosure          
Name Adjusted EBITDA%        
Measure:: 3          
Pay vs Performance Disclosure          
Name Total Revenue        
Measure:: 4          
Pay vs Performance Disclosure          
Name 3-Year Average Incentive ROIC        
Measure:: 5          
Pay vs Performance Disclosure          
Name 3-Year Incentive Cumulative Earnings Per Share        
David W. Huml [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 5,135,239 $ 5,520,144 $ 4,104,578 $ 4,303,328
PEO Actually Paid Compensation Amount 3,589,214 11,455,574 2,122,227 4,921,346
H. Chris Killingstad [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount 2,709,314 4,245,227
PEO Actually Paid Compensation Amount $ 4,658,162 $ 405,184
PEO | David W. Huml [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (3,055,398)        
PEO | David W. Huml [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 2,191,608        
PEO | David W. Huml [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 (1,014,684)        
PEO | David W. Huml [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 310,796        
PEO | David W. Huml [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 21,652        
PEO | David W. Huml [Member] | Forfeitures During Current Year Equal To Prior Year End Fair Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount        
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (710,477)        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 509,583        
Non-PEO NEO | 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 (240,747)        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 69,801        
Non-PEO NEO | 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 5,411        
Non-PEO NEO | Forfeitures During Current Year Equal To Prior Year End Fair Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount