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ASGN Inc. – ‘10-K’ for 12/31/23 – ‘EX-97.1’

On:  Thursday, 2/22/24, at 9:45pm ET   ·   As of:  2/23/24   ·   For:  12/31/23   ·   Accession #:  890564-24-6   ·   File #:  1-35636

Previous ‘10-K’:  ‘10-K’ on 2/27/23 for 12/31/22   ·   Latest ‘10-K’:  This Filing   ·   19 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/23/24  ASGN Inc.                         10-K       12/31/23   88:7.6M

Annual Report   —   Form 10-K   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.32M 
 2: EX-10.10    Material Contract                                   HTML     82K 
 3: EX-19.1     Report Furnished to Security Holders                HTML     41K 
 4: EX-21.1     Subsidiaries List                                   HTML     22K 
 5: EX-23.1     Consent of Expert or Counsel                        HTML     23K 
10: EX-97.1     Clawback Policy re: Recovery of Erroneously         HTML     37K 
                Awarded Compensation                                             
 6: EX-31.1     Certification -- §302 - SOA'02                      HTML     27K 
 7: EX-31.2     Certification -- §302 - SOA'02                      HTML     27K 
 8: EX-32.1     Certification -- §906 - SOA'02                      HTML     24K 
 9: EX-32.2     Certification -- §906 - SOA'02                      HTML     24K 
16: R1          Document and Entity Information                     HTML     89K 
17: R2          Audit Information                                   HTML     28K 
18: R3          Consolidated Balance Sheets                         HTML    127K 
19: R4          Consolidated Balance Sheets (Parenthetical)         HTML     38K 
20: R5          Consolidated Statements of Operations and           HTML    128K 
                Comprehensive Income                                             
21: R6          Consolidated Statements of Stockholders' Equity     HTML     79K 
22: R7          Consolidated Statements of Cash Flows               HTML    112K 
23: R8          General                                             HTML     27K 
24: R9          Summary of Critical and Significant Accounting      HTML     59K 
                Policies                                                         
25: R10         Accounting Standards Update                         HTML     26K 
26: R11         Discontinued Operations                             HTML     41K 
27: R12         Leases (Notes)                                      HTML     50K 
28: R13         Acquisitions                                        HTML     33K 
29: R14         Goodwill and Identifiable Assets                    HTML     76K 
30: R15         Property and Equipment                              HTML     45K 
31: R16         Long-Term Debt                                      HTML     38K 
32: R17         Commitments and Contingencies                       HTML     33K 
33: R18         Stockholders' Equity                                HTML     30K 
34: R19         Stock-based Compensation and Other Employee         HTML     81K 
                Benefit Plans                                                    
35: R20         Income Taxes                                        HTML     86K 
36: R21         Earnings per Share                                  HTML     52K 
37: R22         Segment Reporting                                   HTML     84K 
38: R23         Fair Value Measurements                             HTML     28K 
39: R24         Schedule II - Valuation and Qualifying Accounts     HTML     47K 
40: R25         Summary of Critical and Significant Accounting      HTML    102K 
                Policies (Policies)                                              
41: R26         Discontinued Operations (Tables)                    HTML     42K 
42: R27         Leases (Tables)                                     HTML     52K 
43: R28         Acquisitions (Tables)                               HTML     31K 
44: R29         Goodwill and Identifiable Assets (Tables)           HTML     83K 
45: R30         Property and Equipment (Tables)                     HTML     45K 
46: R31         Long-Term Debt (Tables)                             HTML     38K 
47: R32         Commitments and Contingencies (Tables)              HTML     29K 
48: R33         Stock-based Compensation and Other Employee         HTML     77K 
                Benefit Plans (Tables)                                           
49: R34         Income Taxes (Tables)                               HTML     88K 
50: R35         Earnings per Share (Tables)                         HTML     52K 
51: R36         Segment Reporting (Tables)                          HTML     84K 
52: R37         Summary of Critical and Significant Accounting      HTML     38K 
                Policies (Details)                                               
53: R38         Discontinued Operations (Details)                   HTML     73K 
54: R39         Leases Lease Cost (Details)                         HTML     32K 
55: R40         Leases Supplemental Information (Details)           HTML     32K 
56: R41         Leases Operating Lease Liability Payments Due       HTML     42K 
                (Details)                                                        
57: R42         Acquisitions (Details)                              HTML     35K 
58: R43         Goodwill and Identifiable Assets Goodwill           HTML     45K 
                (Details)                                                        
59: R44         Goodwill and Identifiable Assets Acquired           HTML     58K 
                Intangible Assets (Details)                                      
60: R45         Goodwill and Identifiable Assets Future             HTML     39K 
                Amortization Expense (Details)                                   
61: R46         Property and Equipment (Details)                    HTML     47K 
62: R47         Property and Equipment (Narratives) (Details)       HTML     30K 
63: R48         Long-Term Debt - Components (Details)               HTML     54K 
64: R49         Long-Term Debt - Narrative (Details)                HTML     80K 
65: R50         Commitments and Contingencies Contractual           HTML     32K 
                Obligations (Details)                                            
66: R51         Commitments and Contingencies (Details)             HTML     29K 
67: R52         Stockholders' Equity (Details)                      HTML     42K 
68: R53         Stock-based Compensation and Other Employee         HTML     40K 
                Benefit Plans - Expense (Details)                                
69: R54         Stock-based Compensation and Other Employee         HTML     59K 
                Benefit Plans - Assumptions (Details)                            
70: R55         Stock-based Compensation and Other Employee         HTML     64K 
                Benefit Plans - RSU and RSAs Activity (Details)                  
71: R56         Stock-based Compensation and Other Employee         HTML     76K 
                Benefit Plans - Narrative (Details)                              
72: R57         Income Taxes (Narratives) (Details)                 HTML     48K 
73: R58         Income Taxes (Income Tax Components) (Details)      HTML     48K 
74: R59         Income Taxes (Income Before Tax) (Details)          HTML     33K 
75: R60         Income Taxes (Deferred Tax Assets And Liabilities)  HTML     42K 
                (Details)                                                        
76: R61         Income Taxes (Tax Rate Reconciliation) (Details)    HTML     46K 
77: R62         Earnings per Share (Details)                        HTML     74K 
78: R63         Segment Reporting - Narrative (Details)             HTML     25K 
79: R64         Segment Reporting - Segment Reporting Information   HTML     57K 
                (Details)                                                        
80: R65         Segment Reporting - Disaggregated Revenue           HTML     47K 
                (Details)                                                        
81: R66         Segment Reporting - Federal Government Segment      HTML     41K 
                Revenues by Customer Type (Details)                              
82: R67         Fair Value Measurements (Details)                   HTML     25K 
83: R68         Schedule II - Valuation and Qualifying Accounts     HTML     35K 
                (Details)                                                        
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‘EX-97.1’   —   Clawback Policy re: Recovery of Erroneously Awarded Compensation


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  Document  
Exhibit 97.1

POLICY FOR RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION
ASGN Incorporated (the “Company”) has adopted this Policy for Recovery of Erroneously Awarded Compensation (the “Policy”), effective as of October 2, 2023 (the “Effective Date”). Capitalized terms used in this Policy but not otherwise defined herein are defined in Section 11.
1.Persons Subject to Policy
This Policy shall apply to current and former Officers.
2.    Compensation Subject to Policy
This Policy shall apply to Incentive-Based Compensation received on or after the Effective Date. For purposes of this Policy, the date on which Incentive-Based Compensation is “received” shall be determined under the Applicable Rules, which generally provide that Incentive-Based Compensation is “received” in the Company’s fiscal period during which the relevant Financial Reporting Measure is attained or satisfied, without regard to whether the grant, vesting or payment of the Incentive-Based Compensation occurs after the end of that period.
3.    Recovery of Compensation
In the event that the Company is required to prepare a Restatement, the Company shall recover, reasonably promptly, the portion of any Incentive-Based Compensation that is Erroneously Awarded Compensation, unless the Committee has determined that recovery would be Impracticable. Recovery shall be required in accordance with the preceding sentence regardless of whether the applicable Officer engaged in misconduct or otherwise caused or contributed to the requirement for the Restatement and regardless of whether or when restated financial statements are filed by the Company. For clarity, the recovery of Erroneously Awarded Compensation under this Policy will not give rise to any person’s right to voluntarily terminate employment for “good reason,” or due to a “constructive termination” (or any similar term of like effect) under any plan, program or policy of or agreement with the Company or any of its affiliates.
4.    Manner of Recovery; Limitation on Duplicative Recovery
The Committee shall, in its sole discretion, determine the manner of recovery of any Erroneously Awarded Compensation, which may include, without limitation, reduction or cancellation by the Company or an affiliate of the Company of Incentive-Based Compensation, Erroneously Awarded Compensation or time-vesting equity awards, reimbursement or repayment by any person subject to this Policy of the Erroneously Awarded Compensation, and, to the extent permitted by law, an offset of the Erroneously Awarded Compensation against other compensation payable by the Company or an affiliate of the Company to such person. Notwithstanding the foregoing, unless otherwise prohibited by the Applicable Rules, to the extent this Policy provides for recovery of Erroneously Awarded Compensation already recovered by the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 or Other Recovery Arrangements, the amount of Erroneously Awarded Compensation already recovered by the Company from the recipient of such Erroneously Awarded Compensation may be credited to the amount of Erroneously Awarded Compensation required to be recovered pursuant to this Policy from such person.
5.    Administration
This Policy shall be administered, interpreted and construed by the Committee, which is authorized to make all determinations necessary, appropriate or advisable for such purpose. The Board of Directors of the Company (the “Board”) may re-vest in itself the authority to administer, interpret and construe this Policy in accordance with applicable law, and in such event references herein to the “Committee” shall be deemed to be references to the Board. Subject to any permitted review by the applicable national securities exchange or association pursuant to the Applicable Rules, all determinations
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and decisions made by the Committee pursuant to the provisions of this Policy shall be final, conclusive and binding on all persons, including the Company and its affiliates, equityholders and employees. The Committee may delegate administrative duties with respect to this Policy to one or more directors or employees of the Company, as permitted under applicable law, including any Applicable Rules.
6.    Interpretation
This Policy will be interpreted and applied in a manner that is consistent with the requirements of the Applicable Rules, and to the extent this Policy is inconsistent with such Applicable Rules, it shall be deemed amended to the minimum extent necessary to ensure compliance therewith.
7.    No Indemnification; No Liability
The Company shall not indemnify or insure any person against the loss of any Erroneously Awarded Compensation pursuant to this Policy, nor shall the Company directly or indirectly pay or reimburse any person for any premiums for third-party insurance policies that such person may elect to purchase to fund such person’s potential obligations under this Policy. None of the Company, an affiliate of the Company or any member of the Committee or the Board shall have any liability to any person as a result of actions taken under this Policy.
8.    Application; Enforceability
Except as otherwise determined by the Committee or the Board, the adoption of this Policy does not limit, and is intended to apply in addition to, any other clawback, recoupment, forfeiture or similar policies or provisions of the Company or its affiliates, including any such policies or provisions of such effect contained in any employment agreement, bonus plan, incentive plan, equity-based plan or award agreement thereunder or similar plan, program or agreement of the Company or an affiliate or required under applicable law (the “Other Recovery Arrangements”). The remedy specified in this Policy shall not be exclusive and shall be in addition to every other right or remedy at law or in equity that may be available to the Company or an affiliate of the Company.
9.    Severability
The provisions in this Policy are intended to be applied to the fullest extent of the law; provided, however, to the extent that any provision of this Policy is found to be unenforceable or invalid under any applicable law, such provision will be applied to the maximum extent permitted, and shall automatically be deemed amended in a manner consistent with its objectives to the extent necessary to conform to any limitations required under applicable law.
10.    Amendment and Termination
The Board or the Committee may amend, modify or terminate this Policy in whole or in part at any time and from time to time in its sole discretion. This Policy will terminate automatically when the Company does not have a class of securities listed on a national securities exchange or association.
11.    Definitions

    “Applicable Rules” means Section 10D of the Exchange Act, Rule 10D-1 promulgated thereunder, the listing rules of the national securities exchange or association on which the Company’s securities are listed, and any applicable rules, standards or other guidance adopted by the Securities and Exchange Commission or any national securities exchange or association on which the Company’s securities are listed.

Committee” means the committee of the Board responsible for executive compensation decisions comprised solely of independent directors (as determined under the Applicable Rules), or in the absence of such a committee, a majority of the independent directors serving on the Board.
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Erroneously Awarded Compensation” means the amount of Incentive-Based Compensation received by a current or former Officer that exceeds the amount of Incentive-Based Compensation that would have been received by such current or former Officer based on a restated Financial Reporting Measure, as determined on a pre-tax basis in accordance with the Applicable Rules.
Exchange Act” means the Securities Exchange Act of 1934, as amended.
Financial Reporting Measure” means any measure determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements, and any measures derived wholly or in part from such measures, including GAAP, IFRS and non-GAAP/IFRS financial measures, as well as stock or share price and total equityholder return.
GAAP” means United States generally accepted accounting principles.
IFRS” means international financial reporting standards as adopted by the International Accounting Standards Board.
Impracticable” means (a) the direct costs paid to third parties to assist in enforcing recovery would exceed the Erroneously Awarded Compensation; provided that the Company has (i) made reasonable attempts to recover the Erroneously Awarded Compensation, (ii) documented such attempt(s), and (iii) provided such documentation to the relevant listing exchange or association, (b) to the extent permitted by the Applicable Rules, the recovery would violate the Company’s home country laws pursuant to an opinion of home country counsel; provided that the Company has (i) obtained an opinion of home country counsel, acceptable to the relevant listing exchange or association, that recovery would result in such violation, and (ii) provided such opinion to the relevant listing exchange or association, or (c) recovery would likely cause an otherwise tax-qualified retirement plan, under which benefits are broadly available to employees of the Company, to fail to meet the requirements of 26 U.S.C. 401(a)(13) or 26 U.S.C. 411(a) and the regulations thereunder.
Incentive-Based Compensation” means, with respect to a Restatement, any compensation that is granted, earned, vested, paid and/or received based wholly or in part upon the attainment of one or more Financial Reporting Measures and received by a person: (a) after such person began service as an Officer; (b) who served as an Officer at any time during the performance period for that compensation; (c) while the Company has a class of its securities listed on a national securities exchange or association; and (d) during the applicable Three-Year Period.
Officer” means each person who serves as an executive officer of the Company, as defined in Rule 10D-1(d) under the Exchange Act.
Restatement” means an accounting restatement to correct the Company’s material noncompliance with any financial reporting requirement under securities laws, including restatements that correct an error in previously issued financial statements (a) that is material to the previously issued financial statements or (b) that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period.
Three-Year Period” means, with respect to a Restatement, the three completed fiscal years immediately preceding the date that the Board, a committee of the Board, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare such Restatement, or, if earlier, the date on which a court, regulator or other legally authorized body directs the Company to prepare such Restatement. The “Three-Year Period” also includes any transition period (that results from a change in the Company’s fiscal year) within or immediately following the three completed fiscal years identified in the preceding sentence. However, a transition period between the last day of the Company’s previous fiscal year end and the first day of its new fiscal year that comprises a period of nine to 12 months shall be deemed a completed fiscal year.
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Dates Referenced Herein

This ‘10-K’ Filing    Date    Other Filings
Filed as of:2/23/24None on these Dates
Filed on:2/22/24
For Period end:12/31/23
10/2/23
 List all Filings 


19 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/02/23  ASGN Inc.                         10-Q        9/30/23   46:6.3M
 5/04/23  ASGN Inc.                         10-Q        3/31/23   44:3.9M
 2/27/23  ASGN Inc.                         10-K       12/31/22   85:8.2M
12/13/22  ASGN Inc.                         8-K:5,9    12/13/22   12:323K
11/07/22  ASGN Inc.                         10-Q        9/30/22   52:5.1M
 3/01/22  ASGN Inc.                         10-K       12/31/21   89:9.5M
11/09/21  ASGN Inc.                         10-Q        9/30/21   52:5.5M
 8/09/21  ASGN Inc.                         10-Q        6/30/21   55:5.8M
 7/01/21  ASGN Inc.                         8-K:1,8,9   7/01/21   13:1.4M
 5/11/20  ASGN Inc.                         10-Q        3/31/20   60:4.9M
 3/02/20  ASGN Inc.                         10-K       12/31/19  102:13M
 8/08/19  ASGN Inc.                         10-Q        6/30/19   61:6.1M
 3/01/19  ASGN Inc.                         10-K       12/31/18   93:10M
 5/10/18  ASGN Inc.                         10-Q        3/31/18   51:6.2M
 3/16/18  ASGN Inc.                         8-K:5,8,9   3/15/18    2:39K
 3/01/18  ASGN Inc.                         10-K       12/31/17   93:9.8M
 6/25/14  ASGN Inc.                         8-K:5,9     6/19/14    3:213K
 3/18/13  ASGN Inc.                         10-K       12/31/12  107:15M
 3/16/07  ASGN Inc.                         10-K       12/31/06   16:3.1M                                   Toppan Merrill/FA
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