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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Assertio Holdings Inc | NASDAQ:ASRT | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0549 | 6.99% | 0.84 | 0.81 | 0.85 | 0.84 | 0.7896 | 0.79 | 670,762 | 00:51:12 |
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| | | | A-1 | | | |
| | | | B-1 | | | |
| | | | C-1 | | |
Name
|
| |
Age
|
| |
Principal Occupation
|
| |
Director Since
|
|
Peter D. Staple | | |
71
|
| | Former President and Chief Executive Officer, Corium, Inc. | | |
2003
|
|
Heather L. Mason
|
| |
62
|
| | Retired Executive Vice President, Abbott Nutrition | | |
2019
|
|
William T. McKee | | |
61
|
| | Chief Executive Officer, MBJC Associates, LLC | | |
2017
|
|
Daniel A. Peisert | | |
48
|
| |
President and Chief Executive Officer, Assertio Holdings, Inc.
|
| |
2020
|
|
James L. Tyree | | |
70
|
| | Retired Co-founder and Managing Partner of Tyree & D’Angelo Partners | | |
2016
|
|
Committee
|
| |
Committee Chair
|
| |
Additional Committee
Members |
| |
Audit Committee
Financial Experts |
|
Audit | | |
William T. McKee
|
| |
Heather L. Mason
Peter D. Staple James L. Tyree |
| |
William T. McKee
Peter D. Staple James L. Tyree |
|
Compensation | | | James L. Tyree | | |
Heather L. Mason
William T. McKee |
| | — | |
Nominating and Corporate Governance
|
| |
Heather L. Mason
|
| |
William T. McKee
|
| | — | |
Board Diversity Matrix (As of April 3, 2023)
|
| |
Female
|
| |
Male
|
| ||||||
Total Number of Directors
|
| |
5
|
| |||||||||
Part I: Gender Identity | | | | | | | | | | | | | |
Directors
|
| | | | 1 | | | | | | 4 | | |
Part II: Demographic Background | | | | | | | | | | | | | |
White
|
| | | | 1 | | | | | | 4 | | |
Name of Beneficial Owner(1)
|
| |
Aggregate
Number of Shares of Common Stock(2) |
| |
Number Subject
to Convertible Securities Exercisable Within 60 days |
| |
Percentage
of Common Stock(2) |
| |||||||||
Daniel A. Peisert
|
| | | | 312,364 | | | | | | 1,483,852(3)(4) | | | | | | 3.1% | | |
Paul Schwichtenberg
|
| | | | 104,980 | | | | | | 552,901(5)(4) | | | | | | 1.2% | | |
Ajay Patel
|
| | | | 93,643 | | | | | | 552,901(5)(4) | | | | | | 1.2% | | |
Heather L. Mason
|
| | | | 159,456 | | | | | | 86,286(6) | | | | | | *% | | |
William T. McKee
|
| | | | 34,334 | | | | | | 202,569(7) | | | | | | *% | | |
Peter D. Staple
|
| | | | 194,210(8) | | | | | | 107,526(9) | | | | | | *% | | |
James L. Tyree
|
| | | | 124,165 | | | | | | 90,907(10) | | | | | | *% | | |
All current directors and executive officers as a group (8 persons)
|
| | | | 1,069,138 | | | | | | 3,629,843(11) | | | | | | 7.9% | | |
Name
|
| |
Age
|
| |
Position
|
|
Daniel A. Peisert | | |
48
|
| | President and Chief Executive Officer | |
Paul Schwichtenberg | | |
52
|
| | Senior Vice President and Chief Financial Officer | |
Ajay Patel | | |
39
|
| |
Senior Vice President and Chief Accounting Officer
|
|
Sam Schlessinger | | |
41
|
| | Senior Vice President and General Counsel | |
Name & Principal Position
|
| |
Year
|
| |
Salary
($) |
| |
Bonus
($)(1) |
| |
Stock
Awards ($)(2) |
| |
Options
Awards ($)(2) |
| |
Non-Equity
Incentive Plan Compensation ($)(3) |
| |
All Other
Compensation ($)(4) |
| |
Total
($) |
| ||||||||||||||||||||||||
Danie1 A. Peisert
President & Chief Executive Officer |
| | | | 2022 | | | | | | 589,990 | | | | | | 137,500 | | | | | | 2,095,817 | | | | | | 1,717,937 | | | | | | 1,427,865 | | | | | | 24,709 | | | | | | 5,993,818 | | |
| | | 2021 | | | | | | 580,659 | | | | | | 137,500 | | | | | | 2,477,274 | | | | | | 1,041,871 | | | | | | 933,911 | | | | | | 45,500 | | | | | | 5,216,713 | | | ||
Paul Schwichtenberg(5)
Senior Vice President & Chief Financial Officer, Former Vice President, Finance |
| | | | 2022 | | | | | | 359,365 | | | | | | 44,250 | | | | | | 747,954 | | | | | | 609,484 | | | | | | 354,266 | | | | | | 22,998 | | | | | | 2,138,318 | | |
| | | 2021 | | | | | | 341,770 | | | | | | 44,250 | | | | | | 619,318 | | | | | | 261,861 | | | | | | 214,224 | | | | | | 33,828 | | | | | | 1,515,251 | | | ||
Ajay Patel(6)
Senior Vice President & Chief Accounting Officer, Former Vice President, Controller |
| | | | 2022 | | | | | | 349,115 | | | | | | 22,125 | | | | | | 747,954 | | | | | | 609,484 | | | | | | 342,583 | | | | | | 28,192 | | | | | | 2,099,453 | | |
| | | 2021 | | | | | | 325,860 | | | | | | 22,125 | | | | | | 619,318 | | | | | | 261,861 | | | | | | 205,504 | | | | | | 17,433 | | | | | | 1,452,100 | | |
For Stock and Option Awards Granted in Fiscal Year
|
| |
Consolidated
Financial Statements |
| |
Included with
Form 10-K Filed: |
| |
Note
|
| |||
2022
|
| |
December 31, 2022
|
| |
March 08, 2023
|
| | | | 15 | | |
2021
|
| |
December 31, 2021
|
| |
March 10, 2022
|
| | | | 15 | | |
NEO
|
| |
Base Salary
|
| |
Target Bonus
Opportunity (As a % of Salary) |
| ||||||
Daniel A. Peisert
|
| | | $ | 592,868 | | | | | | 110% | | |
Paul Schwichtenberg.
|
| | | $ | 361,118 | | | | | | 45% | | |
Ajay Patel
|
| | | $ | 350,818 | | | | | | 45% | | |
Net Product Sales Excluding Otrexup
|
| |
Operating Cash Flow
|
| ||||||||||||
Performance Level
|
| |
Payout
Percentage* |
| |
Actual
Result |
| |
Performance Level
|
| |
Payout
Percentage* |
| |
Actual
Result |
|
Less than $104.0M
|
| |
0%
|
| |
$143.9 M
(150% Payout) |
| |
Less than $34.0M
|
| |
0%
|
| |
$78.6M
(200% Payout) |
|
$104.0M (90% of Target)
|
| |
50%
|
| | | | |
$34.0M (90% of Target)
|
| |
50%
|
| | | |
$115.3M (100% of Target)
|
| |
100%
|
| | | | |
$39.9M (100% of Target)
|
| |
100%
|
| | | |
$127.0M (110% of Target)
|
| |
150%
|
| | | | |
$48.0M (110% of Target)
|
| |
200%
|
| | | |
| Otrexup Integration | | | (10% of overall bonus for NEOs excluding CEO; 6.2% for CEO) | |
| Operations Strategic Build | | | (7.5% of overall bonus for NEOs excluding CEO; 4.7% for CEO) | |
|
Investor Relations Outreach
|
| | (5.0% of overall bonus) for NEOs excluding CEO; 3.1% for CEO) | |
| Indocin Life Cycle | | | (10% of overall bonus for NEOs excluding CEO; 6.2% for CEO) | |
| Trade Synergies | | | (7.5% of overall bonus for NEOs excluding CEO; 4.7% for CEO) | |
NEO
|
| |
Individual Business Process Goals (30% Weighting)
|
|
Paul Schwichtenberg | | |
Debt Repayment Strategy
Indocin Support Team Development Portfolio Strategy |
|
Ajay Patel | | |
Operating Cash Flow
Otrexup Integration Company Structuring Financial Compliance Team Development |
|
NEO
|
| |
Base
Salary |
| |
Bonus
Target % |
| |
Total
Corporate Multiplier % |
| |
Corporate
Weighting % |
| |
Total
Corporate Payout $ |
| |
Total
Individual Multiplier % |
| |
Individual
Weighting % |
| |
Total
Individual Payout $ |
| |
Total
Payout $ |
| ||||||||||||||||||||||||
Daniel A. Peisert
|
| | | $ | 592,868 | | | | | | 110% | | | | | | 147.3% | | | | | | 100% | | | | | $ | 960,909 | | | |
N/A
|
| |
N/A
|
| | | | N/A | | | | | $ | 960,909 | | | |||
Paul Schwichtenberg
|
| | | $ | 361,118 | | | | | | 45% | | | | | | 128.8% | | | | | | 70% | | | | | $ | 146,456 | | | | | | 96.7% | | | |
30%
|
| | | $ | 47,142 | | | | | $ | 193,598 | | |
Ajay Patel
|
| | | $ | 350,818 | | | | | | 45% | | | | | | 128.8% | | | | | | 70% | | | | | $ | 142,279 | | | | | | 97.5% | | | |
30%
|
| | | $ | 46,176 | | | | | $ | 188,455 | | |
NEO
|
| |
NEO Status
|
| |
Time-Based
RSU Value |
| |
Time-Based
Stock Option Value |
| ||||||
Daniel A. Peisert
|
| |
Current NEO
|
| | | $ | 1,000,000 | | | | | $ | 1,000,000 | | |
Paul Schwichtenberg
|
| |
Current NEO
|
| | | $ | 250,000 | | | | | $ | 250,000 | | |
Ajay Patel
|
| |
Current NEO
|
| | | $ | 250,000 | | | | | $ | 250,000 | | |
NEO
|
| |
NEO Status
|
| |
Performance-Based
RSUs |
| |
Performance-Based
Stock Options |
| ||||||
Daniel A. Peisert
|
| |
Current NEO
|
| | | | 400,000 | | | | | | 400,000 | | |
Paul Schwichtenberg
|
| |
Current NEO
|
| | | | 200,000 | | | | | | 200,000 | | |
Ajay Patel
|
| |
Current NEO
|
| | | | 200,000 | | | | | | 200,000 | | |
Tier
|
| |
Covered Executives
|
| |
Multiple of Salary
|
|
Tier One | | | Chief Executive Officer | | |
4x Salary
|
|
Tier Two | | | Other NEOs | | |
2x Salary
|
|
| | | | | | | | | | | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Award Type
|
| |
Grant
Date |
| |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Equity
Incentive Plan Awards: Number of Securities Underlying Unearned Amounts (#) |
| |
Option
Exercise Price ($) |
| |
Expiration
Date |
| |
Number of
Restricted Stock Units That have Not Vested (#) |
| |
Market
Value of Restricted Stock Units That have Not Vested ($)(1) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(1) |
| ||||||||||||||||||||||||||||||
Daniel A. Peisert
|
| |
Stock Option(2)
|
| | | | 11/8/2017 | | | | | | 23,917 | | | | | | — | | | | | | — | | | | | | 22.80 | | | | | | 11/8/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| RSU(3) | | | | | 2/4/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 30,968 | | | | | | 133,162 | | | | | | — | | | | | | — | | | ||
| Stock Option(4) | | | | | 5/19/2020 | | | | | | 50,001 | | | | | | — | | | | | | — | | | | | | 3.20 | | | | | | 5/19/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| RSU(3) | | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 378,788 | | | | | | 1,628,788 | | | | | | — | | | | | | — | | | ||
| Stock Option(5) | | | | | 12/1/2021 | | | | | | 311,667 | | | | | | 623,333 | | | | | | — | | | | | | 1.31 | | | | | | 12/31/2031 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| RSU(3) | | | | | 5/12/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 456,204 | | | | | | 1,961,677 | | | | | | — | | | | | | — | | | ||
| Stock Option(5) | | | | | 5/12/2022 | | | | | | — | | | | | | 438,596 | | | | | | — | | | | | | 2.63 | | | | | | 5/12/2032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
|
Performance-Based RSU(6)
|
| | | | 5/12/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 400,000 | | | | | | 1,720,000 | | | ||
| Performance-Based Stock Option(6) | | | | | 5/12/2022 | | | | | | — | | | | | | — | | | | | | 400,000 | | | | | | 2.63 | | | | | | 5/12/2032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Paul Schwichtenberg
|
| |
RSU(3)
|
| | | | 2/4/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,966 | | | | | | 42,854 | | | | | | — | | | | | | — | | |
| RSU(3) | | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 94,697 | | | | | | 407,197 | | | | | | — | | | | | | — | | | ||
| Stock Option(5) | | | | | 12/1/2021 | | | | | | 78,334 | | | | | | 156,666 | | | | | | — | | | | | | 1.31 | | | | | | 12/31/2031 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| RSU(3) | | | | | 5/12/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 114,051 | | | | | | 490,419 | | | | | | — | | | | | | — | | | ||
| Stock Option(5) | | | | | 5/12/2022 | | | | | | — | | | | | | 109,649 | | | | | | — | | | | | | 2.63 | | | | | | 5/12/2032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| Performance-Based RSU(6) | | | | | 5/12/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 200,000 | | | | | | 860,000 | | | ||
| Performance-Based Stock Option(6) | | | | | 5/12/2022 | | | | | | — | | | | | | — | | | | | | 200,000 | | | | | | 2.63 | | | | | | 5/12/2032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Ajay Patel
|
| |
RSU(3)
|
| | | | 2/4/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,983 | | | | | | 21,427 | | | | | | — | | | | | | — | | |
| RSU(3) | | | | | 2/11/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 94,697 | | | | | | 407,197 | | | | | | — | | | | | | — | | | ||
| Stock Option(5) | | | | | 12/1/2021 | | | | | | 78,334 | | | | | | 156,666 | | | | | | — | | | | | | 1.31 | | | | | | 12/31/2031 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| RSU(3) | | | | | 5/12/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 114,051 | | | | | | 490,419 | | | | | | — | | | | | | — | | | ||
| Stock Option(5) | | | | | 5/12/2022 | | | | | | — | | | | | | 109,649 | | | | | | — | | | | | | 2.63 | | | | | | 5/12/2032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| Performance-Based RSU(6) | | | | | 5/12/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 200,000 | | | | | | 860,000 | | | ||
|
Performance-Based Stock Option(6)
|
| | | | 5/12/2022 | | | | | | — | | | | | | — | | | | | | 200,000 | | | | | | 2.63 | | | | | | 5/12/2032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Year
|
| |
Summary
Compensation Table Total for PEO(1) |
| |
Compensation
Actually Paid to PEO(2) |
| |
Average
Summary Compensation Table Total for Non-PEO NEOs(3) |
| |
Average
Compensation Actually Paid to Non-PEO NEOs(4) |
| |
Value of Initial
Fixed $100 Investment Based On Total Shareholder Return(5) |
| |
Net Income
(Loss)(6) (in thousands) |
| ||||||||||||||||||
2022
|
| | | $ | 5,993,818 | | | | | $ | 10,805,836 | | | | | $ | 2,118,886 | | | | | $ | 3,643,883 | | | | | $ | 299 | | | | | $ | 109,625 | | |
2021
|
| | | $ | 5,216,713 | | | | | $ | 4,561,299 | | | | | $ | 1,483,676 | | | | | $ | 1,326,543 | | | | | $ | 151 | | | | | $ | (1,281) | | |
Year
|
| |
Reported
Summary Compensation Table Total for PEO |
| |
Deduct
Reported Value of Equity Awards(a) |
| |
Add (Deduct)
Equity Award Adjustments(b) |
| |
Compensation
Actually Paid to PEO |
| ||||||||||||
2022
|
| | | $ | 5,993,818 | | | | | $ | 3,813,754 | | | | | $ | 8,625,772 | | | | | $ | 10,805,836 | | |
2021
|
| | | $ | 5,216,713 | | | | | $ | 3,519,145 | | | | | $ | 2,863,731 | | | | | $ | 4,561,299 | | |
Year
|
| |
Year End
Fair Value of Equity Awards Granted in the Year and Unvested at Year End |
| |
Year over
Year Change in Fair Value of Outstanding and Unvested Equity Awards |
| |
Fair Value as
of Vesting Date of Equity Awards Granted and Vested in the Year |
| |
Year over
Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year |
| |
Fair Value at
the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year |
| |
Value of
Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value |
| |
Total
Equity Award Adjustments |
| |||||||||||||||||||||
2022
|
| | | $ | 6,198,413 | | | | | $ | 2,061,970 | | | | | | — | | | | | $ | 365,388 | | | | | | — | | | | | | — | | | | | $ | 8,625,772 | | |
2021
|
| | | $ | 2,741,070 | | | | | $ | 50,937 | | | | | | — | | | | | $ | 71,724 | | | | | | — | | | | | | — | | | | | $ | 2,863,731 | | |
Year
|
| |
Average
Reported Summary Compensation Table Total for Non-PEO NEOs |
| |
Deduct
Average Reported Value of Equity Awards |
| |
Add (Deduct)
Average Equity Award Adjustments(a) |
| |
Average Compensation
Actually Paid to Non-PEO NEOs |
| ||||||||||||
2022
|
| | | $ | 2,118,886 | | | | | $ | 1,357,438 | | | | | $ | 2,882,435 | | | | | $ | 3,643,883 | | |
2021
|
| | | $ | 1,483,676 | | | | | $ | 881,179 | | | | | $ | 724,046 | | | | | $ | 1,326,543 | | |
Year
|
| |
Average
Year End Fair Value of Equity Awards Granted in the Year and Unvested at Year End |
| |
Year over
Year Average Change in Fair Value of Outstanding and Unvested Equity Awards |
| |
Average Fair
Value as of Vesting Date of Equity Awards Granted and Vested in the Year |
| |
Year over
Year Average Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year |
| |
Average Fair
Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year |
| |
Average
Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value |
| |
Total
Average Equity Award Adjustments |
| |||||||||||||||||||||
2022
|
| | | $ | 2,267,603 | | | | | $ | 516,520 | | | | | | — | | | | | $ | 98,312 | | | | | | — | | | | | | — | | | | | $ | 2,882,435 | | |
2021
|
| | | $ | 687,277 | | | | | $ | 15,870 | | | | | | — | | | | | $ | 20,899 | | | | | | — | | | | | | — | | | | | $ | 724,046 | | |
Committee Name
|
| |
Committee Chair
Retainer |
| |
Non-Chair Committee
Member Retainer |
| ||||||
Audit
|
| | | $ | 25,000 | | | | | $ | 12,500 | | |
Compensation
|
| | | $ | 20,000 | | | | | $ | 10,000 | | |
Nominating and Corporate Governance
|
| | | $ | 15,000 | | | | | $ | 6,000 | | |
Name
|
| |
Fees Earned or
Cash ($)(1) |
| |
Stock
Awards ($)(2) |
| |
Paid in
Total ($) |
| |||||||||
Heather L. Mason
|
| | | $ | 92,500 | | | | | $ | 190,692 | | | | | $ | 283,192 | | |
William T. McKee
|
| | | $ | 86,000 | | | | | $ | 190,692 | | | | | $ | 276,692 | | |
Peter D. Staple
|
| | | $ | 107,500 | | | | | $ | 190,692 | | | | | $ | 298,192 | | |
James L. Tyree
|
| | | $ | 75,000 | | | | | $ | 190,692 | | | | | $ | 265,692 | | |
Name
|
| |
Options
|
| |
Restricted
Stock Units |
| ||||||
Heather L. Mason
|
| | | | — | | | | | | 86,286 | | |
William T. McKee
|
| | | | 7,317 | | | | | | 195,252 | | |
Peter D. Staple
|
| | | | 11,344 | | | | | | 96,182 | | |
James L. Tyree
|
| | | | 4,621 | | | | | | 86,286 | | |
Plan category
|
| |
Number of
securities to be issued upon exercise of outstanding options, warrants and rights |
| |
Weighted-average
exercise price of outstanding options, warrants and rights(1) |
| |
Number of
securities remaining available for future issuance under equity compensation plans (excluding securities reflected in the first column) |
| |||||||||
Equity compensation plans approved by security holders
|
| | | | 8,177,405(2) | | | | | | 2.62(3) | | | | | | 1,298,518(4) | | |
Equity compensation plans not approved by security
holders |
| | | | 39,292(5) | | | | | | 3.15 | | | | | | 118,097(6) | | |
| | | | | 8,216,697 | | | | | | 2.69(3) | | | | | | 1,416,615 | | |
|
Number of new shares being authorized under 2014 Plan
|
| |
4,150,000
|
|
|
Number of shares available for future awards under 2014 Plan (no shares are available for future awards under the 2004 Plan or 2019 Zyla Plan)
|
| |
413,471
|
|
|
Number of shares relating to outstanding stock options (including 1,000,000 performance-based stock options)
|
| |
4,825,368
|
|
|
Number of shares relating to awards of unvested restricted stock units
|
| |
2,941,306
|
|
|
Number of shares relating to unearned awards of performance stock units
|
| |
1,000,000
|
|
|
Weighted average remaining term of outstanding stock options
|
| |
8.51 years
|
|
|
Weighted average exercise price of outstanding stock options
|
| |
$2.88
|
|
|
Total number of shares available for future awards under 2014 Plan if this proposal is approved
|
| |
4,563,471
|
|
| | |
Time-Based
Options Granted |
| |
Performance-
Based Options Granted |
| |
Performance-
Based Options Exercised |
| |
RSU
Shares Granted |
| |
PSU
Shares Granted |
| |
PSU
Shares Vested |
| |
Net
Forfeitures/ Expirations(1) |
| |
Weighted
Average Number of Common Shares Outstanding |
| |
Burn
Rate (incl. PSUs & Performance- Based Options at Grant)(2) |
| |
Burn
Rate (incl. Vested PSUs & Exercised Performance- Based Options)(3) |
| |
Burn
Rate (incl. Vested PSUs & Exercised Performance- Based Options and Forfeitures/ Expirations)(4) |
| |||||||||||||||||||||||||||||||||
Fiscal 2022
|
| | | | 1,048,487 | | | | | | 1,000,000 | | | | | | — | | | | | | 1,460,515 | | | | | | 1,000,000 | | | | | | — | | | | | | 146,530 | | | | | | 47,003,524 | | | | | | 9.6% | | | | | | 5.3% | | | | | | 5.0% | | |
Fiscal 2021
|
| | | | 2,100,000 | | | | | | — | | | | | | — | | | | | | 2,230,065 | | | | | | — | | | | | | 19,054 | | | | | | 416,601 | | | | | | 43,169,000 | | | | | | 10.0% | | | | | | 10.1% | | | | | | 9.1% | | |
Fiscal 2020
|
| | | | 50,000 | | | | | | — | | | | | | — | | | | | | 1,496,299 | | | | | | — | | | | | | — | | | | | | 672,855 | | | | | | 26,209,000 | | | | | | 5.9% | | | | | | 5.9% | | | | | | 3.3% | | |
Name of Individual or Group
|
| |
Number of Options
Granted (#) |
| |
Number of Shares
Subject to Stock Awards Granted (#) |
| ||||||
Daniel A. Peisert
President & Chief Executive Officer |
| | | | 2,074,005 | | | | | | 1,818,781 | | |
Paul Schwichtenberg
Senior Vice President & Chief Financial Officer |
| | | | 601,272 | | | | | | 569,372 | | |
Ajay Patel
Senior Vice President & Chief Accounting Officer |
| | | | 601,272 | | | | | | 546,677 | | |
All current executive officers as a group
|
| | | | 3,877,821 | | | | | | 3,436,768 | | |
All current non-executive directors as a group
|
| | | | 62,032 | | | | | | 1,020,828 | | |
All current employees, including all current officers who are not executive officers, as a group
|
| | | | 935,552 | | | | | | 1,354,277 | | |
| | | | BY ORDER OF THE BOARD OF DIRECTORS | |
| | | | /s/ Daniel A. Peisert | |
| | | | Daniel A. Peisert | |
| | | | President and Chief Executive Officer | |
| | |
Twelve months ended
December 31, |
| | | | |||||||||
| | |
2022
|
| |
2021
|
| |
Financial Statement Classification
|
| ||||||
GAAP Net Income (Loss)
|
| | | $ | 109,625 | | | | | $ | (1,281) | | | | | |
Interest expense
|
| | | | 7,961 | | | | | | 10,220 | | | | Interest expense | |
Income tax expense (benefit)
|
| | | | (78,459) | | | | | | 728 | | | | Income tax benefit (expense) | |
Depreciation expense
|
| | | | 787 | | | | | | 963 | | | |
Selling, general and administrative expenses
|
|
Amortization of intangible assets
|
| | | | 32,608 | | | | | | 28,114 | | | | Amortization of intangible assets | |
EBITDA (Non-GAAP)
|
| | | | 72,522 | | | | | | 38,744 | | | | | |
Adjustments:
|
| | | | | | | | | | | | | | | |
Legacy product reserves(1)
|
| | | | 1,290 | | | | | | 985 | | | | Other revenue | |
Stock-based compensation
|
| | | | 7,504 | | | | | | 3,545 | | | |
Selling, general and administrative expenses
|
|
Contingent consideration fair value change(2)
|
| | | | 18,687 | | | | | | 3,914 | | | | Fair value of contingent consideration | |
Restructuring cost
|
| | | | — | | | | | | 1,089 | | | | Restructuring charges | |
Other(3)
|
| | | | 1,592 | | | | | | 554 | | | | Multiple | |
Adjusted EBITDA (Non-GAAP)
|
| | | $ | 101,595 | | | | | $ | 48,831 | | | | | |
1 Year Assertio Chart |
1 Month Assertio Chart |
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