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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/21/24 Veeco Instruments Inc. DEF 14A 5/09/24 11:6M Toppan Merrill/FA |
Document/Exhibit Description Pages Size 1: DEF 14A Definitive Proxy Statement HTML 1.85M 6: R1 Cover HTML 16K 7: R2 Pay vs Performance Disclosure HTML 498K 8: XML IDEA XML File -- Filing Summary XML 21K 11: XML XBRL Instance -- tm242731d2_def14a_htm XML 615K 3: EX-101.DEF XBRL Definitions -- veco-20240322_def XML 15K 4: EX-101.LAB XBRL Labels -- veco-20240322_lab XML 104K 5: EX-101.PRE XBRL Presentations -- veco-20240322_pre XML 28K 2: EX-101.SCH XBRL Schema -- veco-20240322 XSD 35K 9: JSON XBRL Instance as JSON Data -- MetaLinks 127± 162K 10: ZIP XBRL Zipped Folder -- 0001104659-24-037293-xbrl Zip 1.53M
tm242731-1_nonfiling - none - 11.0883302s |
|
DATE AND TIME:
|
| | Thursday, May 9, 2024, 8:30 a.m., Eastern Time | |
|
PLACE:
|
| | Virtually at www.virtualshareholdermeeting.com/VECO2024 and in person at Veeco’s headquarter offices located at Terminal Drive, Plainview, New York 11803. | |
|
ITEMS OF BUSINESS:
|
| |
1.
To elect three directors named in the proxy statement to hold office until the 2027 Annual Meeting of Stockholders and until their successors are duly elected and qualified;
2.
To approve an amendment to Veeco’s 2019 Stock Incentive Plan to increase the authorized shares of Veeco’s common stock thereunder by 3,500,000 shares;
3.
To approve, on a non-binding advisory basis, the compensation of our named executive officers;
4.
To ratify the appointment of KPMG LLP as our independent registered public accounting firm for 2024; and
5.
To consider such other business as may properly come before the meeting.
|
|
|
WHO CAN VOTE:
|
| | You must be a stockholder of record at the close of business on March 13, 2024 to vote at the Annual Meeting. | |
|
INTERNET AVAILABILITY:
|
| | We are using the internet as our primary means of furnishing proxy materials to most of our stockholders. Rather than sending our stockholders a paper copy of our proxy materials, we are sending them a Notice of Internet Availability of Proxy Materials (“Notice”) with instructions for accessing the materials and voting their shares. The Proxy Statement and our 2023 Annual Report on Form 10-K are available free of charge at www.veeco.com. | |
|
PROXY VOTING:
|
| | We cordially invite you to participate in the Annual Meeting. You may vote in person at the Annual Meeting or by telephone, through the internet or by mailing your completed proxy card, following the instructions in the Notice and in the Proxy Statement. | |
| | | |
By order of the Veeco Instruments Inc. Board of Directors,
Kirk W. Mackey
Vice President, General Counsel and Secretary
March 21, 2024
Plainview, New York |
|
| | | | | 1 | | | |
| STOCK OWNERSHIP | | | | | | | |
| | | | | 5 | | | |
| | | | | 6 | | | |
| GOVERNANCE | | | | | | | |
| | | | | 7 | | | |
| | | | | 7 | | | |
| | | | | 8 | | | |
| | | | | 8 | | | |
| | | | | 9 | | | |
| | | | | 9 | | | |
| | | | | 9 | | | |
| | | | | 10 | | | |
| | | | | 11 | | | |
| | | | | 12 | | | |
| | | | | 13 | | | |
| | | | | 13 | | | |
| | | | | 14 | | | |
| COMPENSATION | | | | | | | |
| | | | | 16 | | | |
| | | | | 18 | | | |
| | | | | 29 | | | |
| | | | | 30 | | | |
| | | | | 32 | | | |
| | | | | 33 | | | |
| | | | | 35 | | | |
| | | | | 35 | | | |
| | | | | 36 | | | |
| | | | | 40 | | | |
| | | | | 41 | | | |
| AUDIT MATTERS | | | | | | | |
| | | | | 45 | | | |
| | | | | 46 | | | |
| | | | | 46 | | | |
| | | | | 47 | | | |
| VOTING PROPOSALS | | | | | | | |
| | | | | 48 | | | |
| | | | | 53 | | | |
| | | | | 60 | | | |
| | | | | 61 | | | |
| | | | | 62 | | | |
| | | | | A-1 | | |
| |
Voting Matters and Board Recommendations
|
| | ||||||||
| |
Proposal
|
| | |
Required Vote
|
| | |
Board Vote Recommendation
|
| |
| |
Proposal 1
Election of three nominees named herein as directors. |
| | | Each nominee must receive a majority of the votes cast. | | | |
FOR each nominee
|
| |
| |
Proposal 2
Approval of an Amendment to the 2019 Stock Incentive Plan. |
| | | This proposal will be considered approved if more votes are cast in favor than against. | | | |
FOR
|
| |
| |
Proposal 3
Advisory vote to approve the compensation of our named executive officers, or “Say on Pay.” |
| | | This non-binding proposal will be considered approved if more votes are cast in favor than against. | | | |
FOR
|
| |
| |
Proposal 4
Ratification of the appointment of our independent registered public accounting firm for 2024. |
| | | This proposal will be considered approved if more votes are cast in favor than against. | | | |
FOR
|
| |
| |
How to Vote
|
| | ||||||||||||
| |
Via the Internet
|
| | |
By Telephone
|
| | |
By Mail
|
| | |
At our Meeting
|
| |
| |
|
| | |
|
| | |
|
| | |
|
| |
| | | | |
Call 1-800-690-6903
|
| | |
Follow the instructions on your proxy/voting instruction card
|
| | |
Attend our Annual Meeting virtually at www.virtualshareholder meeting.com/VECO2024 or in person and vote by the means provided
|
| |
| | | | | | | | | | | | |
Director
since |
| | |
Independent(1)
|
| | |
Committee Membership
|
| | |||||||||||
| |
Name
|
| | |
Age
|
| | |
AC
|
| | |
CC
|
| | |
GC
|
| | ||||||||||||||
| | Kathleen A. Bayless | | | | | | 67 | | | | | | | 2016 | | | | |
Yes
|
| | |
C/FE
|
| | |
M
|
| | | | | |
| | Sujeet Chand, Ph.D. | | | | | | 66 | | | | | | | 2021 | | | | |
Yes
|
| | | | | | | | | | |
M
|
| |
| | Richard A. D’Amore | | | | | | 70 | | | | | | | 1990 | | | | |
Yes (Chair)
|
| | | | | | |
M
|
| | | | | |
| | Gordon Hunter | | | | | | 72 | | | | | | | 2010 | | | | |
Yes
|
| | | | | | |
C
|
| | |
M
|
| |
| | Keith D. Jackson | | | | | | 68 | | | | | | | 2012 | | | | |
Yes
|
| | |
M/FE
|
| | | | | | |
C
|
| |
| | William J. Miller, Ph.D. | | | | | | 55 | | | | | | | 2018 | | | | |
No
|
| | | | | | | | | | | | | |
| | Lena Nicolaides, Ph.D. | | | | | | 53 | | | | | | | 2022 | | | | |
Yes
|
| | | | | | | | | | |
M
|
| |
| | Mary Jane Raymond | | | | | | 63 | | | | | | | 2019 | | | | |
Yes
|
| | |
M/FE
|
| | | | | | | | | |
| | Thomas St. Dennis | | | | | | 70 | | | | | | | 2016 | | | | |
Yes
|
| | |
M/FE
|
| | |
M
|
| | | | | |
| |
Board and Other Governance Information
|
| | |
As of March 21, 2024
|
| |
| | Size of Board as Nominated | | | |
9
|
| |
| | Average Age of Director Nominees and Continuing Directors | | | |
64.9 years
|
| |
| | Average Tenure of Director Nominees and Continuing Directors | | | |
9.4 years
|
| |
| | Standard Deviation of Director Tenure | | | |
9.0 years
|
| |
| | Percentage of Continuing Directors and Nominees who are Independent | | | |
88.9%
|
| |
| | Percentage of Directors who attended all Board Meetings | | | |
88.9%
|
| |
| |
Number of Director Nominees and Continuing Directors Who Serve on More Than Three Public Company Boards (total, including the Company)
|
| | |
0
|
| |
| | Number of Other Public Company Boards Served by Board Chairman | | | |
1
|
| |
| | Directors Subject to Stock Ownership Guidelines (3x annual cash retainers) | | | |
Yes
|
| |
| | Annual Election of Directors | | | |
No
|
| |
| | Voting Standard | | | |
Majority
|
| |
| | Plurality Voting Carve-out for Contested Elections | | | |
Yes
|
| |
| | Independent Chairman | | | |
Yes
|
| |
| | Independent Directors Meet Without Management Present | | | |
Yes
|
| |
| | Annual Board, Committee and Individual Director Self-Evaluations | | | |
Yes
|
| |
| | Annual Independent Director Evaluation of Chief Executive Officer | | | |
Yes
|
| |
| | Risk Oversight by Full Board and Committees | | | |
Yes
|
| |
| | Board Orientation/Education Program | | | |
Yes
|
| |
| | Code of Conduct Applicable to Directors | | | |
Yes
|
| |
| | Stockholder Ability to Call Special Meetings | | | |
50% of Outstanding Shares
|
| |
| | Stockholder Ability to Act by Written Consent | | | |
No
|
| |
| | Poison Pill | | | |
No
|
| |
| |
Percentage of Multiple Voting Rights or Voting Certificates Relative to Total Voting Rights
|
| | |
0%
|
| |
| | Percentage of Issued Share Capital Composed of Non-Voting Shares | | | |
0%
|
| |
| | | | | |
Shares of Common Stock
Beneficially Owned(1) |
| | |
Percentage of
Total Shares Outstanding(1) |
| | ||||||||||||||||||||
| | | | | |
Shares
|
| | |
Options
|
| | |
Total
|
| | ||||||||||||||||
| | 5% or Greater Stockholders: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | BlackRock, Inc.(2) | | | | | | 8,694,097 | | | | | | | — | | | | | | | 8,694,097 | | | | | | | 15.4% | | | |
| | The Vanguard Group(3) | | | | | | 6,739,727 | | | | | | | — | | | | | | | 6,739,727 | | | | | | | 11.9% | | | |
| | Invesco Ltd.(4) | | | | | | 3,663,825 | | | | | | | — | | | | | | | 3,663,825 | | | | | | | 6.5% | | | |
| | Neuberger Berman Group LLC(5) | | | | | | 3,423,251 | | | | | | | — | | | | | | | 3,423,251 | | | | | | | 6.1% | | | |
| | Directors: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Kathleen A. Bayless | | | | | | 56,667 | | | | | | | — | | | | | | | 56,667 | | | | | |
|
*
|
| | |
| | Sujeet Chand, Ph.D. | | | | | | 18,166 | | | | | | | — | | | | | | | 18,166 | | | | | |
|
*
|
| | |
| | Richard A. D’Amore | | | | | | 141,382 | | | | | | | — | | | | | | | 141,382 | | | | | |
|
*
|
| | |
| | Gordon Hunter | | | | | | 75,041 | | | | | | | — | | | | | | | 75,041 | | | | | |
|
*
|
| | |
| | Keith D. Jackson | | | | | | 71,241 | | | | | | | — | | | | | | | 71,241 | | | | | |
|
*
|
| | |
| | William J. Miller, Ph.D. | | | | | | 500,077 | | | | | | | — | | | | | | | 500,077 | | | | | |
|
*
|
| | |
| | Lena Nicolaides, Ph.D. | | | | | | 10,559 | | | | | | | — | | | | | | | 10,599 | | | | | |
|
*
|
| | |
| | Mary Jane Raymond | | | | | | 24,320 | | | | | | | — | | | | | | | 24,320 | | | | | |
|
*
|
| | |
| | Thomas St. Dennis | | | | | | 52,184 | | | | | | | — | | | | | | | 52,184 | | | | | |
|
*
|
| | |
| | Named Executive Officers: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | William J. Miller, Ph.D. | | | | | | 500,077 | | | | | | | — | | | | | | | 500,077 | | | | | |
|
*
|
| | |
| | John Kiernan | | | | | | 79,560(6) | | | | | | | — | | | | | | | 79,560 | | | | | |
|
*
|
| | |
| | Adrian Devasahayam, Ph.D. | | | | | | 72,278 | | | | | | | — | | | | | | | 72,278 | | | | | |
|
*
|
| | |
| | Peter Porshnev, Ph.D. | | | | | | 113,686 | | | | | | | 10,000 | | | | | | | 123,686 | | | | | |
|
*
|
| | |
| | Susan Wilkerson | | | | | | 43,675 | | | | | | | — | | | | | | | 43,675 | | | | | |
|
*
|
| | |
| |
All Directors and Executive Officers as a Group (13 persons)
|
| | | | | 1,258,836 | | | | | | | 10,000 | | | | | | | 1,268,836 | | | | | | | 2.2% | | | |
| |
Board Skills & Experience Matrix as of March 21, 2024
|
| | ||||||||||||||||||||||||||||||||||||
| |
DIRECTOR
SKILLS & EXPERIENCE |
| | |
Bayless
|
| | |
Chand
|
| | |
D’Amore
|
| | |
Hunter
|
| | |
Jackson
|
| | |
Miller
|
| | |
Nicolaides
|
| | |
Raymond
|
| | |
St. Dennis
|
| |
| |
Cybersecurity
|
| | |
•
|
| | |
•
|
| | | | | | |
•
|
| | |
•
|
| | | | | | | | | | | | | | | | | |
| |
Environment,
Climate & Sustainability |
| | | | | | | | | | | | | | |
•
|
| | |
•
|
| | |
•
|
| | | | | | |
•
|
| | | | | |
| |
Human Capital
Management |
| | |
•
|
| | |
•
|
| | |
•
|
| | |
•
|
| | |
•
|
| | |
•
|
| | |
•
|
| | |
•
|
| | |
•
|
| |
| |
Risk Management
|
| | |
•
|
| | |
•
|
| | |
•
|
| | |
•
|
| | |
•
|
| | |
•
|
| | |
•
|
| | |
•
|
| | |
•
|
| |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | |
Board Diversity Matrix as of March 21, 2024
|
| | | ||||||||||||||||||||||||||||||
| | | | |
Total Number of Directors: 9
|
| | | ||||||||||||||||||||||||||||||
| | | | | | | | |
Female
|
| | |
Male
|
| | |
Non-Binary
|
| | |
Did Not Disclose
Gender |
| | | | | ||||||||||||
| | | | | Part I: Gender Identity | | | | ||||||||||||||||||||||||||||||
| | | | |
Directors
|
| | | | | 3 | | | | | | | 6 | | | | | | | 0 | | | | | | | 0 | | | | | | |
| | | | | Part II: Demographic Background | | | | ||||||||||||||||||||||||||||||
| | | | |
African American or Black
|
| | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | |
| | | | |
Alaskan Native or Native American
|
| | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | |
| | | | |
Asian
|
| | | | | 0 | | | | | | | 1 | | | | | | | 0 | | | | | | | 0 | | | | | | |
| | | | |
Hispanic or Latinx
|
| | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | |
| | | | |
Native Hawaiian or Pacific Islander
|
| | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | |
| | | | |
White
|
| | | | | 3 | | | | | | | 5 | | | | | | | 0 | | | | | | | 0 | | | | | | |
| | | | |
Two or More Races or Ethnicities
|
| | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | |
| | | | |
LGBTQ+
|
| | | 0 | | | | | | ||||||||||||||||||||||||
| | | | |
Did Not Disclose Demographic Background
|
| | | 0 | | | | | |
| |
Board Committee
|
| | |
Quarterly
Retainer for Non-Chair Membership ($) |
| | |
Quarterly
Retainer for Chair Membership ($) |
| | ||||||
| | Audit | | | | | | 2,500 | | | | | | | 6,250 | | | |
| | Compensation | | | | | | 1,875 | | | | | | | 3,750 | | | |
| | Governance | | | | | | 1,250 | | | | | | | 2,500 | | | |
| |
Name
|
| | |
Fees Earned
or Paid in Cash ($)(1) |
| | |
Stock
Awards ($)(2)(3) |
| | |
All Other
Compensation ($) |
| | |
Total ($)
|
| | ||||||||||||
| | Kathleen A. Bayless | | | | | | 100,172 | | | | | | | 140,000 | | | | | | | — | | | | | | | 240,172 | | | |
| | Sujeet Chand | | | | | | 75,000 | | | | | | | 140,000 | | | | | | | — | | | | | | | 215,000 | | | |
| | Richard A. D’Amore | | | | | | 127,500 | | | | | | | 140,000 | | | | | | | — | | | | | | | 267,500 | | | |
| | Gordon Hunter | | | | | | 90,000 | | | | | | | 140,000 | | | | | | | — | | | | | | | 230,000 | | | |
| | Keith D. Jackson | | | | | | 90,000 | | | | | | | 140,000 | | | | | | | — | | | | | | | 230,000 | | | |
| | Lena Nicolaides | | | | | | 73,750 | | | | | | | 70,000 | | | | | | | — | | | | | | | 143,750 | | | |
| | Mary Jane Raymond | | | | | | 80,000 | | | | | | | 140,000 | | | | | | | — | | | | | | | 220,000 | | | |
| | Peter J. Simone(4) | | | | | | 42,500 | | | | | | | — | | | | | | | — | | | | | | | 30,824 | | | |
| | Thomas St. Dennis | | | | | | 84,396 | | | | | | | 140,000 | | | | | | | — | | | | | | | 224,396 | | | |
| |
Outstanding Equity Awards at Fiscal Year End
|
| | ||||||||||||||
| |
Name
|
| | |
Stock
Awards (#) |
| | |
Option
Awards (#) |
| | ||||||
| | Kathleen A. Bayless | | | | | | 6,760 | | | | | | | — | | | |
| | Sujeet Chand | | | | | | 6,760 | | | | | | | — | | | |
| | Richard A. D’Amore | | | | | | 6,760 | | | | | | | — | | | |
| | Gordon Hunter | | | | | | 6,760 | | | | | | | — | | | |
| | Keith D. Jackson | | | | | | 6,760 | | | | | | | — | | | |
| | Lena Nicolaides | | | | | | 3,380 | | | | | | | — | | | |
| | Mary Jane Raymond | | | | | | 6,760 | | | | | | | — | | | |
| | Thomas St. Dennis | | | | | | 6,760 | | | | | | | — | | | |
| |
Name
|
| | |
Age
|
| | |
Position
|
| |
| | William J. Miller, Ph.D. | | | |
55
|
| | | Chief Executive Officer | | |
| | John P. Kiernan | | | |
61
|
| | | Senior Vice President, Chief Financial Officer | | |
| | Adrian Devasahayam, Ph.D. | | | |
53
|
| | | Senior Vice President, Product Line Management | | |
| | Peter Porshnev, Ph.D. | | | |
60
|
| | | Senior Vice President, Unified Engineering | | |
| | Susan Wilkerson | | | |
63
|
| | | Senior Vice President, Global Sales & Services | | |
|
Performance-based:
|
| | Compensation levels should be determined based on Company financial performance and individual results, each as compared to quantitative and qualitative performance priorities set at the beginning of the performance period. The ratio of performance-based compensation to fixed compensation shall increase with the executive’s level, with the greatest amount of performance-based compensation at the CEO level. Performance-based compensation should be subject to a complete risk of forfeiture. | |
|
Stockholder-aligned:
|
| | A significant portion of potential compensation should be performance- and time-based equity to more closely align the interests of executives with those of our stockholders. | |
|
Fair and Competitive:
|
| | Compensation levels should be fair, internally and externally, and competitive with overall compensation levels at other companies where we compete for talent. Our compensation programs should promote our ability to attract and retain our employees, including our executives. | |
|
CEO Compensation Elements
|
| |
Other NEO Compensation Elements
|
|
|
|
| |
|
|
|
3D Systems Corporation
ACM Research, Inc. Ambarella, Inc. Axcelis Technologies, Inc. Azenta, Inc. Badger Meter, Inc. CMC Materials, Inc. Cohu, Inc. Enphase Energy, Inc. FARO Technologies, Inc. FormFactor, Inc. |
| |
Ichor Holdings Ltd.
Lattice Semiconductor Corporation NeoPhotonics Corporation nLIGHT, Inc. Onto Innovation, Inc. OSI Systems, Inc. Photronics, Inc. Quantum Corporation Rambus Inc. Universal Display Corporation Vishay Precision Group, Inc. |
|
| |
Name
|
| | |
2022
Base Salary |
| | |
2023
Base Salary |
| | |
Percent
Change |
| | |||||||||
| | W. Miller | | | | | $ | 633,400 | | | | | | $ | 633,400 | | | | | | | 0.0% | | | |
| | J. Kiernan | | | | | $ | 418,400 | | | | | | $ | 418,400 | | | | | | | 0.0% | | | |
| | A. Devasahayam | | | | | $ | 383,400 | | | | | | $ | 383,400 | | | | | | | 0.0% | | | |
| | P. Porshnev | | | | | $ | 418,400 | | | | | | $ | 418,400 | | | | | | | 0.0% | | | |
| | S. Wilkerson | | | | | $ | 408,400 | | | | | | $ | 408,400 | | | | | | | 0.0% | | | |
| |
Performance Level
|
| | |
Adjusted
Operating Income ($ million) |
| | |
Funded Percent of
Bonus Targets |
| | ||||||
| | Maximum | | | | | $ | 265.5 | | | | | | | 200% | | | |
| | Target | | | | | $ | 162.1 | | | | | | | 100% | | | |
| | Business Plan | | | | | $ | 124.0 | | | | | | | 63.1% | | | |
| | Actual | | | | | $ | 122.4 | | | | | | | 62.3% | | | |
| | Threshold | | | | | $ | 30.0 | | | | | | | 15.3% | | | |
| |
2023 Goals
|
| | |
Miller
|
| | |
Kiernan
|
| | |
Porshnev
|
| | |
Devasahayam
|
| | |
Wilkerson
|
| | |||||||||||||||
| |
Financial
•
Revenue
•
Gross Margin
•
Operating Income
|
| | | | | ✓ | | | | | | | ✓ | | | | | | | ✓ | | | | | | | ✓ | | | | | | | n/a | | | |
| |
Bookings
|
| | |
|
| | |
|
| | |
|
| | |
|
| | |
|
| | |||||||||||||||
| |
Semi Penetration
|
| | | | | ✓ | | | | | | | n/a | | | | | | | ✓ | | | | | | | ✓ | | | | | | | ✓ | | | |
| |
Product Development
|
| | | | | ✓ | | | | | | | n/a | | | | | | | ✓ | | | | | | | ✓ | | | | | | | n/a | | | |
| |
Customer Satisfaction & Quality
|
| | | | | ✓ | | | | | | | n/a | | | | | | | ✓ | | | | | | | n/a | | | | | | | ✓ | | | |
| |
Culture / Leadership Development
|
| | | | | ✓ | | | | | | | ✓ | | | | | | | ✓ | | | | | | | ✓ | | | | | | | ✓ | | | |
| |
ESG
|
| | | | | ✓ | | | | | | | ✓ | | | | | | | ✓ | | | | | | | n/a | | | | | | | n/a | | | |
| |
Name
|
| | |
Target Bonus
(Total Amount / % of Base Salary) |
| | |
Financial
Performance Adjusted Target (62.3% of Target) |
| | |
Financial
Performance Award (75% of Adjusted Target) |
| | |
Individual
Performance Target (25% of Adjusted Target) |
| | |
Individual
Performance Award % / $ |
| | |
Final Bonus
Award (% of Target/ Total Amount) |
| | |||||||||
| | W. Miller | | | |
$696,740 / 110%
|
| | | | $ | 434,069 | | | | | | $ | 325,552 | | | | | | $ | 108,517 | | | | |
100.0% / $108,517
|
| | |
62.3% / $434,069
|
| |
| | J. Kiernan | | | |
$313,800 / 75%
|
| | | | $ | 195,498 | | | | | | $ | 146,623 | | | | | | $ | 48,874 | | | | |
100.0% / $ 48,874
|
| | |
62.3% / $195,498
|
| |
| |
A. Devasahayam
|
| | |
$230,040 / 60%
|
| | | | $ | 143,315 | | | | | | $ | 107,486 | | | | | | $ | 35,829 | | | | |
105.0% / $ 37,620
|
| | |
63.1% / $145,107
|
| |
| | P. Porshnev | | | |
$251,040 / 60%
|
| | | | $ | 156,398 | | | | | | $ | 117,299 | | | | | | $ | 39,100 | | | | |
105.0% / $ 41,055
|
| | |
63.1% / $158,353
|
| |
| | S. Wilkerson | | | |
$306,300 / 75%
|
| | | | $ | 190,825 | | | | | | $ | 143,119 | | | | | | $ | 47,706 | | | | |
90.0% / $ 42,936
|
| | |
60.7% / $186,054
|
| |
| |
Name
|
| | |
Target Bonus
for 2024 |
| | |||
| | W. Miller | | | | | | 110% | | | |
| | J. Kiernan | | | | | | 75% | | | |
| | A Devasahayam | | | | | | 60% | | | |
| | P. Porshnev | | | | | | 60% | | | |
| | S. Wilkerson | | | | | | 75% | | | |
| | | | | | | | | | | | |
Performance-based Restricted Stock Units
|
| | |
Time-based Restricted Stock
|
| | ||||||||||||||||||||||||||||||||||
| |
Name
|
| | |
Date of
Grant |
| | |
Amount
|
| | |
Fair
Market Value Per Share |
| | |
Total
Value ($)(1) |
| | |
Amount
|
| | |
Fair
Market Value Per Share |
| | |
Total
Value ($) |
| | |||||||||||||||||||||
| | W. Miller | | | | | | 03/13/2023 | | | | | | | 81,250 | | | | | | $ | 20.82 | | | | | | $ | 1,691,625 | | | | | | | 43,750 | | | | | | $ | 20.82 | | | | | | $ | 910,875 | | | |
| | J. Kiernan | | | | | | 03/13/2023 | | | | | | | 17,550 | | | | | | $ | 20.82 | | | | | | $ | 365,391 | | | | | | | 9,450 | | | | | | $ | 20.82 | | | | | | $ | 196,749 | | | |
| | A. Devasahayam | | | | | | 03/13/2023 | | | | | | | 15,600 | | | | | | $ | 20.82 | | | | | | $ | 324,792 | | | | | | | 8,400 | | | | | | $ | 20.82 | | | | | | $ | 174,888 | | | |
| | P. Porshnev | | | | | | 03/13/2023 | | | | | | | 15,600 | | | | | | $ | 20.82 | | | | | | $ | 324,792 | | | | | | | 8,400 | | | | | | $ | 20.82 | | | | | | $ | 174,888 | | | |
| | S. Wilkerson | | | | | | 03/13/2023 | | | | | | | 15,600 | | | | | | $ | 20.82 | | | | | | $ | 324,792 | | | | | | | 8,400 | | | | | | $ | 20.82 | | | | | | $ | 174,888 | | | |
| |
Performance Range
|
| | |
Percentile Rank of
Russell 2000 Index |
| | |
Percentage of Units Earned(1)
|
| |
| |
Maximum
|
| | |
75th Percentile
|
| | |
200%
|
| |
| |
Target
|
| | |
55th Percentile
|
| | |
100%
|
| |
| |
Threshold
|
| | |
25th Percentile
|
| | |
50%
|
| |
| |
Below Threshold
|
| | |
Less than 25th Percentile
|
| | |
0%
|
| |
| |
Performance Range
|
| | |
Percentile Rank of
Russell 2000 Index |
| | |
Percentage of Units Earned(1)
|
| |
| |
Maximum
|
| | |
75th Percentile
|
| | |
200%
|
| |
| |
Target
|
| | |
55th Percentile
|
| | |
100%
|
| |
| |
Threshold
|
| | |
25th Percentile
|
| | |
50%
|
| |
| |
Below Threshold
|
| | |
Less than 25th Percentile
|
| | |
0%
|
| |
| |
Name and Principal Position
|
| | |
Year
|
| | |
Salary
($) |
| | |
Bonus
($) |
| | |
Stock
Awards ($)(1) |
| | |
Option
Awards ($) |
| | |
Non-Equity
Incentive Plan Compensation ($)(2) |
| | |
All
Other Compensation ($)(3) |
| | |
Total ($)
|
| | ||||||||||||||||||||||||
| | William J. Miller | | | | | | 2023 | | | | | | | 633,400 | | | | | | | — | | | | | | | 3,531,188 | | | | | | | — | | | | | | | 434,069 | | | | | | | 12,347 | | | | | | | 4,611,004 | | | |
| |
CEO
|
| | | | | 2022 | | | | | | | 618,077 | | | | | | | — | | | | | | | 4,741,020 | | | | | | | — | | | | | | | 535,990 | | | | | | | 19,797 | | | | | | | 5,914,884 | | | |
| | | | | | | | 2021 | | | | | | | 590,385 | | | | | | | — | | | | | | | 3,122,580 | | | | | | | — | | | | | | | 793,459 | | | | | | | 20,077 | | | | | | | 4,526,501 | | | |
| | John P. Kiernan | | | | | | 2023 | | | | | | | 418,400 | | | | | | | — | | | | | | | 762,737 | | | | | | | — | | | | | | | 195,498 | | | | | | | 13,664 | | | | | | | 1,390,299 | | | |
| |
SVP, CFO
|
| | | | | 2022 | | | | | | | 404,231 | | | | | | | — | | | | | | | 1,580,340 | | | | | | | — | | | | | | | 251,228 | | | | | | | 22,394 | | | | | | | 2,258,193 | | | |
| | | | | | | | 2021 | | | | | | | 379,231 | | | | | | | — | | | | | | | 910,753 | | | | | | | — | | | | | | | 338,250 | | | | | | | 21,332 | | | | | | | 1,649,566 | | | |
| |
Adrian Devasahayam
|
| | | | | 2023 | | | | | | | 383,400 | | | | | | | — | | | | | | | 677,988 | | | | | | | — | | | | | | | 145,107 | | | | | | | 11,142 | | | | | | | 1,217,637 | | | |
| |
SVP, Product Line Mgmt.
|
| | | | | 2022 | | | | | | | 371,539 | | | | | | | — | | | | | | | 987,713 | | | | | | | — | | | | | | | 179,230 | | | | | | | 19,572 | | | | | | | 1,558,054 | | | |
| | | 2021 | | | | | | | 356,539 | | | | | | | — | | | | | | | 780,645 | | | | | | | — | | | | | | | 255,698 | | | | | | | 19,902 | | | | | | | 1,412,784 | | | | |||||
| | Peter Porshnev | | | | | | 2023 | | | | | | | 418,400 | | | | | | | — | | | | | | | 677,988 | | | | | | | — | | | | | | | 158,353 | | | | | | | 13,739 | | | | | | | 1,268,480 | | | |
| |
SVP, Unified Engineering
|
| | | | | 2022 | | | | | | | 406,539 | | | | | | | — | | | | | | | 987,713 | | | | | | | — | | | | | | | 195,958 | | | | | | | 20,802 | | | | | | | 1,611,012 | | | |
| | | 2021 | | | | | | | 392,693 | | | | | | | — | | | | | | | 780,645 | | | | | | | — | | | | | | | 280,558 | | | | | | | 20,105 | | | | | | | 1,474,001 | | | | |||||
| | Susan Wilkerson | | | | | | 2023 | | | | | | | 408,400 | | | | | | | — | | | | | | | 677,988 | | | | | | | — | | | | | | | 186,054 | | | | | | | 31,576 | | | | | | | 1,304,018 | | | |
| |
SVP, Global Sales &
Services |
| | | | | 2022 | | | | | | | 396,539 | | | | | | | — | | | | | | | 987,713 | | | | | | | — | | | | | | | 245,100 | | | | | | | 22,119 | | | | | | | 1,651,471 | | | |
| | | 2021 | | | | | | | 382,692 | | | | | | | — | | | | | | | 780,645 | | | | | | | — | | | | | | | 341,819 | | | | | | | 17,901 | | | | | | | 1,523,057 | | | |
| |
Restricted Stock Awards
|
| | ||||||||||||||||||
| |
Grant Date
|
| | |
Grant Date
Fair Value |
| | |
Name
|
| | |
Number of
Shares |
| | ||||||
| | 03/13/2023(a) | | | | | $ | 32.25 | | | | | W. Miller | | | | | | 81,250 | | | |
| | 03/13/2023 | | | | | | | | | | | J. Kiernan | | | | | | 17,550 | | | |
| | 03/13/2023 | | | | | | | | | | |
A. Devasahayam
|
| | | | | 15,600 | | | |
| | 03/13/2023 | | | | | | | | | | | P. Porshnev | | | | | | 15,600 | | | |
| | 03/13/2023 | | | | | | | | | | | S. Wilkerson | | | | | | 15,600 | | | |
| | 03/13/2023(b) | | | | | $ | 20.82 | | | | | W. Miller | | | | | | 43,750 | | | |
| | 03/13/2023 | | | | | | | | | | | J. Kiernan | | | | | | 9,450 | | | |
| | 03/13/2023 | | | | | | | | | | |
A. Devasahayam
|
| | | | | 8,400 | | | |
| | 03/13/2023 | | | | | | | | | | | P. Porshnev | | | | | | 8,400 | | | |
| | 03/13/2023 | | | | | | | | | | | S. Wilkerson | | | | | | 8,400 | | | |
| |
Name
|
| | |
401(k) Matching
Contribution ($) |
| | |
Premium for
Group Term Life Insurance ($) |
| | |
Wellness Incentive
($) |
| | |
Total Other
Compensation ($)(a) |
| | ||||||||||||
| | W. Miller | | | | | | 9,900 | | | | | | | 2,322 | | | | | | | 125 | | | | | | | 12,347 | | | |
| | J. Kiernan | | | | | | 9,900 | | | | | | | 3,564 | | | | | | | 200 | | | | | | | 13,664 | | | |
| | A. Devasahayam | | | | | | 9,900 | | | | | | | 1,242 | | | | | | | — | | | | | | | 11,142 | | | |
| | P. Porshnev | | | | | | 9,900 | | | | | | | 3,564 | | | | | | | 275 | | | | | | | 13,739 | | | |
| | S. Wilkerson | | | | | | 9,900 | | | | | | | 3,564 | | | | | | | 125 | | | | | | | 31,576(a) | | | |
| |
Name
|
| | |
Grant Date
|
| | |
Estimated Future Payouts
Under Non-Equity Incentive Plan Awards(1) |
| | |
Estimated Future Payouts
Under Equity Incentive Plan Awards(2) |
| | |
All
Other Stock Awards: Number of Shares of Stock or Units (#)(3) |
| | |
All Other
Option Awards: Number of Securities Underlying Options (#) |
| | |
Exercise or
Base Price of Option Awards ($/Sh) |
| | |
Market
Price on Date of Grant ($/Sh) |
| | |
Grant
Date Fair Value of Stock and Option Awards ($) |
| | |||||||||||||||||||||||||||||||||||||||||||
|
Threshold
($) |
| | |
Target
($) |
| | |
Maximum
($) |
| | |
Threshold
(#) |
| | |
Target
(#) |
| | |
Maximum
(#) |
| | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | W. Miller | | | | | |
02/06/2023 03/13/2023 |
| | | | | | 106,601 | | | | | | | 696,740 | | | | | | | 1,393,480 | | | | | | | 40,625 | | | | | | | 81,250 | | | | | | | 162,500 | | | | | | | 43,750 | | | | | | | | | | | | | | | | | | | 3,531,188 | | | |
| | J. Kiernan | | | | | |
02/06/2023 03/13/2023 |
| | | | | | 48,011 | | | | | | | 313,800 | | | | | | | 627,600 | | | | | | | 8,775 | | | | | | | 17,550 | | | | | | | 35,100 | | | | | | | 9,450 | | | | | | | | | | | | | | | | | | | 762,737 | | | |
| |
A. Devasahayam
|
| | | | |
02/06/2023 03/13/2023 |
| | | | | | 35,196 | | | | | | | 230,040 | | | | | | | 460,080 | | | | | | | 7,800 | | | | | | | 15,600 | | | | | | | 31,200 | | | | | | | 8,400 | | | | | | | | | | | | | | | | | | | 677,988 | | | |
| | P. Porshnev | | | | | |
02/06/2023 03/13/2023 |
| | | | | | 38,409 | | | | | | | 251,040 | | | | | | | 502,080 | | | | | | | 7,800 | | | | | | | 15,600 | | | | | | | 31,200 | | | | | | | 8,400 | | | | | | | | | | | | | | | | | | | 677,988 | | | |
| | S. Wilkerson | | | | | |
02/06/2023 03/13/2023 |
| | | | | | 46,864 | | | | | | | 306,300 | | | | | | | 612,600 | | | | | | | 7,800 | | | | | | | 15,600 | | | | | | | 31,200 | | | | | | | 8,400 | | | | | | | | | | | | | | | | | | | 677,988 | | | |
| | | | | |
Option Awards
|
| | |
Stock Awards
|
| | ||||||||||||||||||||||||||||||||||||||||||||||||
| |
Name
|
| | |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| | |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| | |
Option
Exercise Price ($) |
| | |
Option
Expiration Date |
| | |
Number of
Shares or Units of Stock That Have Not Vested (#)(1) |
| | |
Market
Value of Shares or Units of Stock That Have Not Vested ($) |
| | |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(1) |
| | |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) |
| | ||||||||||||||||||||||||
| | W. Miller | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 85,750 | | | | | | | 2,660,823 | | | | | | | 237,250 | | | | | | | 7,361,868 | | | |
| | J. Kiernan | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 25,268 | | | | | | | 784,066 | | | | | | | 66,300 | | | | | | | 2,057,289 | | | |
| | A. Devasahayam | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 17,734 | | | | | | | 550,286 | | | | | | | 51,350 | | | | | | | 1,593,391 | | | |
| | P. Porshnev | | | | | | 10,000 | | | | | | | — | | | | | | | 37.26 | | | | | | | 06/30/2024 | | | | | | | 17,734 | | | | | | | 550,286 | | | | | | | 51,350 | | | | | | | 1,593,391 | | | |
| | S. Wilkerson | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 17,734 | | | | | | | 550,286 | | | | | | | 51,350 | | | | | | | 1,593,391 | | | |
| | | | | |
Option Awards
|
| | |
Stock Awards
|
| | ||||||||||||||||||
| |
Name
|
| | |
Number of Securities
Underlying Unexercised Options (#) Unexercisable |
| | |
Option
Exercise Price ($) |
| | |
Option
Grant Date |
| | |
Number of
Shares That Have Not Vested (#)(1) |
| | |
Restricted
Stock Grant Date |
| | ||||||
| | W. Miller | | | | | | | | | | | | | | | | | | 92,000 | | | | | | | 03/12/2021 | | | |
| | | | | | | | | | | | | | | | | | | | 106,000 | | | | | | | 03/17/2022 | | | |
| | | | | | | | | | | | | | | | | | | | 125,000 | | | | | | | 03/13/2023 | | | |
| | J. Kiernan | | | | | | | | | | | | | | | | | | 2,400 | | | | | | | 01/02/2020 | | | |
| | | | | | | | | | | | | | | | | | | | 26,834 | | | | | | | 03/12/2021 | | | |
| | | | | | | | | | | | | | | | | | | | 35,334 | | | | | | | 03/17/2022 | | | |
| | | | | | | | | | | | | | | | | | | | 27,000 | | | | | | | 03/13/2023 | | | |
| | A. Devasahayam | | | | | | | | | | | | | | | | | | 23,000 | | | | | | | 03/12/2021 | | | |
| | | | | | | | | | | | | | | | | | | | 22,084 | | | | | | | 03/17/2022 | | | |
| | | | | | | | | | | | | | | | | | | | 24,000 | | | | | | | 03/13/2023 | | | |
| | P. Porshnev | | | | | | | | | | | | | | | | | | 23,000 | | | | | | | 03/12/2021 | | | |
| | | | | | | | | | | | | | | | | | | | 22,084 | | | | | | | 03/17/2022 | | | |
| | | | | | | | | | | | | | | | | | | | 24,000 | | | | | | | 03/13/2023 | | | |
| | S. Wilkerson | | | | | | | | | | | | | | | | | | 23,000 | | | | | | | 03/12/2021 | | | |
| | | | | | | | | | | | | | | | | | | | 22,084 | | | | | | | 03/17/2022 | | | |
| | | | | | | | | | | | | | | | | | | | 24,000 | | | | | | | 03/13/2023 | | | |
| |
Name
|
| | |
Option Awards
|
| | |
Stock Awards
|
| | ||||||||||||||||||||
|
Number of
Shares Acquired on Exercise (#)(1) |
| | |
Value Realized
on Exercise ($) |
| | |
Number of
Shares Acquired on Vesting (#)(1) |
| | |
Value Realized
on Vesting ($) |
| | |||||||||||||||||
| | W. Miller | | | | | | — | | | | | | | — | | | | | | | 196,386 | | | | | | | 4,091,384 | | | |
| | J. Kiernan | | | | | | — | | | | | | | — | | | | | | | 72,085 | | | | | | | 1,512,121 | | | |
| | A. Devasahayam | | | | | | — | | | | | | | — | | | | | | | 51,000 | | | | | | | 1,061,793 | | | |
| | P. Porshnev | | | | | | — | | | | | | | — | | | | | | | 50,000 | | | | | | | 1,041,283 | | | |
| | S. Wilkerson | | | | | | — | | | | | | | — | | | | | | | 28,639 | | | | | | | 544,299 | | | |
| |
Name
|
| | |
Number of Shares Withheld and/or
Sold for Tax Withholding (#) |
| | |||
| | W. Miller | | | | | | 100,339 | | | |
| | J. Kiernan | | | | | | 34,655 | | | |
| | A. Devasahayam | | | | | | 19,571 | | | |
| | P. Porshnev | | | | | | 18,358 | | | |
| | S. Wilkerson | | | | | | 10,093 | | | |
| | | | | |
Number of
securities to be issued upon exercise of outstanding options, warrants, and rights (A) |
| | |
Weighted average
exercise price of outstanding options, warrants, and rights(1) (B) |
| | |
Number of securities
remaining available for future issuance under equity compensation plans (excluding securities reflected in column (A)) (C) |
| | |||||||||
| |
Equity compensation plans approved by security holders
|
| | | | | 1,137,554 | | | | | | $ | 37.42 | | | | | | | 3,679,950 | | | |
| |
Equity compensation plans not approved by security holders
|
| | | | | — | | | | | | | — | | | | | | | — | | | |
| | Total | | | | | | 1,137,554 | | | | | | | | | | | | | | 3,679,950 | | | |
| | | | | | | | | | | | | | | | |
Stock Options
|
| | | | | | | | | | | | | | | | ||||||||||
| |
Name
|
| | |
Event
|
| | |
Salary &
Other Continuing Payments ($)(1) |
| | |
Accelerated
Vesting of Stock Options ($) |
| | |
Extension of
Post- Termination Exercise Period ($)(2) |
| | |
Accelerated
Vesting of Stock Awards ($)(3) |
| | |
Total
($) |
| | |||||||||||||||
| |
W. Miller
|
| | |
Termination without
Cause or resignation for Good Reason |
| | | | | 2,013,286 | | | | | | | 0 | | | | | | | 0 | | | | | | | 2,660,823 | | | | | | | 4,674,109 | | | |
|
Termination without
Cause or resignation for Good Reason following a Change of Control(4) |
| | | | | 3,406,766 | | | | | | | 0 | | | | | | | 0 | | | | | | | 10,022,690 | | | | | | | 13,429,456 | | | | |||||
| |
J. Kiernan
|
| | |
Termination without
Cause or resignation for Good Reason |
| | | | | 627,600 | | | | | | | 0 | | | | | | | 0 | | | | | | | 784,066 | | | | | | | 1,411,666 | | | |
|
Termination without
Cause or resignation for Good Reason following a Change of Control(4) |
| | | | | 1,449,587 | | | | | | | 0 | | | | | | | 0 | | | | | | | 2,841,355 | | | | | | | 4,290,942 | | | | |||||
| |
A. Devasahayam
|
| | |
Qualifying Termination
under the Severance Benefits Policy |
| | | | | 287,550 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 287,550 | | | |
|
Termination without
Cause or resignation for Good Reason following a Change of Control(4) |
| | | | | 1,150,200 | | | | | | | 0 | | | | | | | 0 | | | | | | | 2,143,677 | | | | | | | 3,293,877 | | | | |||||
| |
P. Porshnev
|
| | |
Qualifying Termination
under the Severance Benefits Policy |
| | | | | 332,537 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 332,537 | | | |
|
Termination without
Cause or resignation for Good Reason following a Change of Control(4) |
| | | | | 1,292,687 | | | | | | | 0 | | | | | | | 0 | | | | | | | 2,143,677 | | | | | | | 3,436,364 | | | | |||||
| |
S. Wilkerson
|
| | |
Qualifying Termination
under the Severance Benefits Policy |
| | | | | 258,430 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 258,430 | | | |
|
Termination without
Cause or resignation for Good Reason following a Change of Control(4) |
| | | | | 1,395,674 | | | | | | | 0 | | | | | | | 0 | | | | | | | 2,143,677 | | | | | | | 3,539,351 | | | |
| | 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 $100 Investment based on: | | | | Net Income (Loss) ($ thousands) | | | | i Adjusted Operating Income ($ thousands) | | | ||||||||||||||||||||||||||||
| Company TSR(4) | | | | Peer Group TSR(4) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| | 2023 | | | | | | i 4,611,004 | | | | | | | i 13,124,880 | | | | | | | i 1,295,109 | | | | | | | i 3,300,891 | | | | | | | i 211.30 | | | | | | | i 38.89 | | | | | | | ( i 30,368) | | | | | | | i 122,410 | | | |
| | 2022 | | | | | | i 5,914,884 | | | | | | | i 894,752 | | | | | | | i 1,769,683 | | | | | | | i 409,560 | | | | | | | i 126.48 | | | | | | | i 36.09 | | | | | | | i 166,942 | | | | | | | i 116,577 | | | |
| | 2021 | | | | | | i 4,526,501 | | | | | | | i 13,102,240 | | | | | | | i 1,514,852 | | | | | | | i 2,755,988 | | | | | | | i 193.81 | | | | | | | i 81.82 | | | | | | | i 26,038 | | | | | | | i 104,367 | | | |
| | 2020 | | | | | | i 2,610,509 | | | | | | | i 5,331,974 | | | | | | | i 1,138,308 | | | | | | | i 1,483,327 | | | | | | | i 118.18 | | | | | | | i 132.76 | | | | | | | ( i 8,391) | | | | | | | i 66,873 | | | |
| | | | | | 2023 | | | | 2022 | | | | 2021 | | | | 2020 | | | ||||||||||||||||||||||||||||||||||||||||
| | | | | | PEO ($) | | | | Average for Non- PEO NEOs ($) | | | | PEO ($) | | | | Average for Non- PEO NEOs ($) | | | | PEO ($) | | | | Average for Non- PEO NEOs ($) | | | | PEO ($) | | | | Average for Non- PEO NEOs ($) | | | ||||||||||||||||||||||||
| | Total Compensation from SCT | | | | | | i 4,611,004 | | | | | | | i 1,295,109 | | | | | | | i 5,914,884 | | | | | | | i 1,769,683 | | | | | | | i 4,526,501 | | | | | | | i 1,514,852 | | | | | | | i 2,610,509 | | | | | | | i 1,138,308 | | | |
| | Deduct: Amounts Reported Under “Stock Awards” and “Option Awards” columns in SCT | | | | | | ( i 3,531,188) | | | | | | | ( i 699,175) | | | | | | | ( i 4,741,020) | | | | | | | ( i 1,135,870) | | | | | | | ( i 3,122,580) | | | | | | | ( i 813,172) | | | | | | | ( i 1,121,618) | | | | | | | ( i 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) | | | | | | i 5,828,750 | | | | | | | i 1,154,093 | | | | | | | i 2,517,420 | | | | | | | i 603,132 | | | | | | | i 4,362,540 | | | | | | | i 1,136,078 | | | | | | | i 2,140,579 | | | | | | | i 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) |
| | | | | i 5,341,740 | | | | | | | i 1,348,802 | | | | | | | ( i 2,779,460) | | | | | | | ( i 737,886) | | | | | | | i 4,456,145 | | | | | | | i 828,795 | | | | | | | i 1,868,289 | | | | | | | i 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) | | | | | | i 874,573 | | | | | | | i 202,063 | | | | | | | ( i 17,073) | | | | | | | ( i 89,499) | | | | | | | i 2,879,634 | | | | | | | i 89,435 | | | | | | | ( i 165,785) | | | | | | | ( i 32,272) | | | |
| | Compensation Actually Paid | | | | | | i 13,124,880 | | | | | | | i 3,300,891 | | | | | | | i 894,752 | | | | | | | i 409,560 | | | | | | | i 13,102,240 | | | | | | | i 2,755,988 | | | | | | | i 5,331,974 | | | | | | | i 1,483,327 | | | |
| | Date | | | | Stock Price | | | |||
| | 12/31/2019 | | | | | $ | i 14.69 | | | |
| | 12/31/2020 | | | | | $ | i 17.36 | | | |
| | 12/31/2021 | | | | | $ | i 28.47 | | | |
| | 12/31/2022 | | | | | $ | i 18.58 | | | |
| | 12/31/2023 | | | | | $ | i 31.03 | | | |
| | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | Per Share Fair Value at… | | | | ||||||||||||||||||||||||||||||||||||||||
| | | | Award | | | | Grant Date | | | | Grant Date | | | |
12/31/2019 | | | | 12/31/2020 | | | | 12/31/2021 | | | | 12/31/2022 | | | | 12/31/2023 | | | | |||||||||||||||||||||||
| 2018 PRSU(c)
| | | | | | 10/1/2018 | | | | | | $ | i 15.58 | | | | | | $ | i 25.01 | | | | | | $ | i 31.99 | | | | | | | | | | | | | | | | | | | | | | | | | | |||||
| 2019 PRSU(d) | | | | | | 3/14/2019 | | | | | | $ | i 14.46 | | | | | | $ | i 20.36 | | | | | | $ | i 24.81 | | | | | | $ | i 56.29 | | | | | | | | | | | | | | | | | | | |||||
| 2020 PRSU(d) | | | | | | 3/17/2020 | | | | | | $ | i 10.59 | | | | | | | | | | | | | $ | i 18.92 | | | | | | $ | i 43.47 | | | | | | $ | i 29.82 | | | | | | | | | | | | |||||
| 2021 PRSU(e) | | | | | | 3/12/2021 | | | | | | $ | i 27.81 | | | | | | | | | | | | | | | | | | | | $ | i 40.60 | | | | | | $ | i 24.76 | | | | | | $ | i 60.39 | | | | | |||||
| 2022 PRSU(e) | | | | | | 3/17/2022 | | | | | | $ | i 45.28 | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | i 22.27 | | | | | | $ | i 48.42 | | | | | |||||
| 2023 PRSU(e) | | | | | | 3/13/2023 | | | | | | $ | i 32.25 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | i 55.03 | | | | |
| | | | | |
For the
Year Ended December 31, 2023 (in thousands) |
| | |
For the
Year Ended December 31, 2022 (in thousands) |
| | ||||||
| | Audit Fees(1) | | | | | $ | 2,516 | | | | | | $ | 2,158 | | | |
| | Audit-related Fees | | | | | | — | | | | | | | — | | | |
| | Tax Fees(2) | | | | | | 23 | | | | | | | 263 | | | |
| | Total | | | | | $ | 2,539 | | | | | | $ | 2,421 | | | |
| |
Name
|
| | |
Nominated for
Election to: |
| | |
For a Term Expiring
at the Annual Meeting of Stockholders in: |
| | |||
| | Richard A. D’Amore | | | |
Class III
|
| | | | | 2027 | | | |
| | Keith D. Jackson | | | |
Class III
|
| | | | | 2027 | | | |
| | Mary Jane Raymond | | | |
Class III
|
| | | | | 2027 | | | |
| |
Name
|
| | |
Continuing in:
|
| | |
Term Expires at
the Annual Meeting of Stockholders in: |
| | |||
| | Sujeet Chand, Ph.D. | | | |
Class I
|
| | | | | 2025 | | | |
| | William J. Miller, Ph.D. | | | |
Class I
|
| | | | | 2025 | | | |
| | Thomas St. Dennis | | | |
Class I
|
| | | | | 2025 | | | |
| | Kathleen A. Bayless | | | |
Class II
|
| | | | | 2026 | | | |
| | Gordon Hunter | | | |
Class II
|
| | | | | 2026 | | | |
| | Lena Nicolaides, Ph.D. | | | |
Class II
|
| | | | | 2026 | | | |
| | | | | | | | | |
Director since
|
| | | | | | |
Committee Membership
|
| | ||||||||
| |
Name
|
| | |
Age
|
| | |
Independent(1)
|
| | |
AC
|
| | |
CC
|
| | |
GC
|
| | ||||
| | Kathleen A. Bayless | | | |
67
|
| | |
2016
|
| | |
Yes
|
| | |
C/FE
|
| | |
M
|
| | | | | |
| | Sujeet Chand, Ph.D. | | | |
66
|
| | |
2021
|
| | |
Yes
|
| | | | | | | | | | |
M
|
| |
| | Richard A. D’Amore | | | |
70
|
| | |
1990
|
| | |
Yes (Chair)
|
| | | | | | |
M
|
| | | | | |
| | Gordon Hunter | | | |
72
|
| | |
2010
|
| | |
Yes
|
| | | | | | |
C
|
| | |
M
|
| |
| | Keith D. Jackson | | | |
68
|
| | |
2012
|
| | |
Yes
|
| | |
M/FE
|
| | | | | | |
C
|
| |
| | William J. Miller, Ph.D. | | | |
55
|
| | |
2018
|
| | |
No
|
| | | | | | | | | | | | | |
| | Lena Nicolaides, Ph.D. | | | |
53
|
| | |
2022
|
| | |
Yes
|
| | | | | | | | | | |
M
|
| |
| | Mary Jane Raymond | | | |
63
|
| | |
2019
|
| | |
Yes
|
| | |
M/FE
|
| | | | | | | | | |
| | Thomas St. Dennis | | | |
70
|
| | |
2016
|
| | |
Yes
|
| | |
M/FE
|
| | |
M
|
| | | | | |
|
|
| |
Awards are merit-based as part of our overall compensation program.
|
|
|
|
| |
An independent committee of the Board of Directors administers the Plan.
|
|
|
|
| |
Awards other than stock options and stock appreciation rights are charged against the Plan share reserve at the rate of 1.5 shares for each share actually granted.
|
|
|
|
| |
Awards may be in the form of stock options, SARs, restricted stock, restricted stock units and dividend equivalents.
|
|
|
|
| |
Stock options and SARs may not be re-priced without prior approval of our stockholders. Stock options and SARs may not be granted below fair market value.
|
|
|
|
| |
Shares tendered or withheld in payment of a stock option exercise or for taxes on an award, and shares repurchased by the Company generally are not available again for grant under the Plan.
|
|
|
|
| |
The Plan reserve is reduced by the full amount of shares granted as SARs, regardless of the number of shares upon which payment is made.
|
|
|
|
| |
Dividends and dividend equivalents on awards are not paid unless and until the award vests.
|
|
|
|
| |
the acquisition of 30% or more of the Company’s stock by any individual or entity including by tender offer or a reverse merger;
|
|
|
|
| |
a sale, transfer or other disposition of all or substantially all of the assets of the Company;
|
|
|
|
| |
a merger or consolidation in which the Company is not the surviving entity;
|
|
|
|
| |
a complete liquidation or dissolution; or
|
|
|
|
| |
a change in the composition of the Board such that a majority of the Board members ceases, by reason of one or more contested elections for Board membership, to be comprised of individuals who are either current Board members or Board members who were elected or nominated for election by at least two-thirds of the current members of the Board.
|
|
| |
Name and Title of Individual, or Group
|
| | |
Number
of Performance Share Awards and PRSUs granted (A) |
| | |
Number of
Restricted Stock Awards granted |
| | |
Number
of RSUs granted |
| | |
Number of
shares underlying Options granted |
| | ||||||||||||
| | William J. Miller, CEO | | | | | | 978,737 | | | | | | | 351,763 | | | | | | | 43,750 | | | | | | | 132,310 | | | |
| | John P. Kiernan, SVP, CFO | | | | | | 168,021 | | | | | | | 92,522 | | | | | | | 9,450 | | | | | | | 55,720 | | | |
| | Adrian Devasahayam, SVP, Product Line Mgmt. | | | | | | 99,944 | | | | | | | 88,099 | | | | | | | 13,800 | | | | | | | 18,640 | | | |
| | Peter Porshnev, SVP, Unified Engineering | | | | | | 105,160 | | | | | | | 97,840 | | | | | | | 13,400 | | | | | | | 30,530 | | | |
| | Susan Wilkerson, SVP, Global Sales & Services | | | | | | 51,350 | | | | | | | 85,917 | | | | | | | 8,400 | | | | | | | 0 | | | |
| | All current executive officers, as a group | | | | | | 1,403,212 | | | | | | | 716,141 | | | | | | | 88,800 | | | | | | | 237,200 | | | |
| | All non-executive directors, as a group | | | | | | 0 | | | | | | | 504,072 | | | | | | | 0 | | | | | | | 0 | | | |
| |
All employees, other than current executive officers, as
a group |
| | | | | 1,034,537 | | | | | | | 5,873,489 | | | | | | | 2,109,461 | | | | | | | 2,462,097 | | | |
| |
Proposal:
|
| | |
Vote Required:
|
| | |
Broker Discretionary
Voting Allowed? |
| |
| |
Proposal 1 – Election of Three Directors
|
| | | Majority of the Shares Cast for Each Director Nominee | | | |
No
|
| |
| | Proposal 2 – Amendment to the 2019 Stock Incentive Plan | | | | Majority of the Votes Cast | | | |
No
|
| |
| | Proposal 3 – Advisory Vote on Executive Compensation | | | | Majority of the Votes Cast | | | |
No
|
| |
| | Proposal 4 – Ratification of Auditors for Fiscal Year 2024 | | | | Majority of the Votes Cast | | | |
Yes
|
| |
This ‘DEF 14A’ Filing | Date | Other Filings | ||
---|---|---|---|---|
5/2/29 | ||||
12/31/24 | ||||
11/21/24 | ||||
For Period end: | 5/9/24 | |||
Filed on: | 3/21/24 | |||
3/13/24 | 144, 4 | |||
3/8/24 | 4 | |||
2/16/24 | 10-K | |||
2/13/24 | SC 13G/A | |||
2/12/24 | SC 13G/A | |||
2/9/24 | SC 13G/A | |||
2/5/24 | ||||
1/22/24 | SC 13G/A | |||
12/31/23 | 10-K | |||
10/1/23 | ||||
5/12/23 | 4, 8-K | |||
5/11/23 | 8-K | |||
3/13/23 | 4 | |||
2/6/23 | ||||
1/10/23 | 4, 8-K | |||
12/31/22 | 10-K, SD | |||
5/12/22 | 8-K, DEF 14A | |||
3/17/22 | 4 | |||
2/3/22 | ||||
12/31/21 | 10-K, 4, SD | |||
3/12/21 | 4 | |||
12/31/20 | 10-K, SD | |||
3/9/20 | ||||
1/2/20 | 4, 8-K | |||
1/1/20 | ||||
12/31/19 | 10-K, SD | |||
5/3/19 | 8-K, DEF 14A | |||
3/20/19 | ||||
3/14/19 | 4 | |||
8/29/18 | 8-K | |||
12/31/17 | 10-K, 5, SD | |||
12/22/17 | ||||
11/2/17 | 8-K | |||
8/4/17 | ||||
5/5/16 | 3, 8-K, DEF 14A | |||
1/1/14 | ||||
12/10/13 | DEF 14A | |||
5/14/10 | 4, 8-K, DEF 14A, PRE 14A, S-8 | |||
4/10/10 | ||||
5/1/09 | ||||
12/29/08 | ||||
6/9/06 | 4, 8-K | |||
1/21/04 | ||||
List all Filings |