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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cheesecake Factory Inc | NASDAQ:CAKE | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.20 | 0.60% | 33.67 | 33.40 | 34.99 | 34.70 | 33.4819 | 34.13 | 942,395 | 01:00:00 |
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Voting online or by telephone is fast and convenient, and your vote is immediately confirmed and posted. To vote online or by telephone, first read the accompanying Proxy Statement and then follow the instructions below:
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| | |||
| | VOTE ONLINE | | | VOTE BY TELEPHONE | | |
| | 1. Go to www.proxyvote.com. | | | 1. Using a touch-tone telephone, call 1-800-690-6903. | | |
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2. Follow the step-by-step instructions provided.
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| | 2. Follow the step-by-step instructions provided. | | |
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IF YOU PLAN TO ATTEND THE VIRTUAL ANNUAL MEETING
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We will be hosting our Annual Meeting via live webcast only. Any stockholder can attend the Annual Meeting live online at www.virtualshareholdermeeting.com/CAKE2021. The webcast will start at 10:00 a.m., Pacific Daylight Time, on Thursday, May 27, 2021. Stockholders may vote and ask questions while attending the Annual Meeting online. In order to be able to attend the Annual Meeting, you will need the 16-digit control number, which appears on your proxy card (printed in the box and marked by the arrow) and the instructions that accompanied your proxy materials. Instructions on how to participate in the Annual Meeting are also posted online at www.proxyvote.com.
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| | |
Fiscal 2020
|
| |
Fiscal 2019
|
| ||||||
Audit Fees(1)
|
| | | $ | 1,696,610 | | | | | $ | 1,618,100 | | |
All Other Fees(2)
|
| | | | 36,498 | | | | | | 1,780 | | |
Total Fees
|
| | |
$
|
1,733,108
|
| | | |
$
|
1,619,880
|
| |
| |
Board Member
|
| | |
Audit Committee
|
| | |
Compensation
Committee |
| | |
Corporate
Governance and Nominating Committee |
| |
| | David Overton, Chairman of the Board | | | |
—
|
| | |
—
|
| | |
—
|
| |
| | Edie A. Ames | | | |
—
|
| | |
—
|
| | |
Member
|
| |
| | Alexander L. Cappello | | | |
Member*
|
| | |
Chair
|
| | |
—
|
| |
| | Paul D. Ginsberg | | | |
—
|
| | |
—
|
| | |
—
|
| |
| | Jerome I. Kransdorf, Lead Director | | | |
Member**
|
| | |
Member
|
| | |
Chair
|
| |
| | Janice L. Meyer | | | |
Member
|
| | |
—
|
| | |
—
|
| |
| | Laurence B. Mindel | | | |
—
|
| | |
Member
|
| | |
Member
|
| |
| | David B. Pittaway | | | |
Chair*
|
| | |
—
|
| | |
—
|
| |
| | Herbert Simon | | | |
—
|
| | |
Member
|
| | |
Member
|
| |
| |
Number of Meetings in 2020
|
| | |
13
|
| | |
8
|
| | |
5
|
| |
| |
Board of Directors Fees(1)
|
| | |
Fiscal 2020
|
| | |||
| | Annual fee(2) | | | | | $ | 90,000 | | | |
| | Annual cash payment in lieu of equity grant in 2020(3) | | | | | $ | 115,000 | | | |
| | Lead Director annual fee | | | | | $ | 25,000 | | | |
| | Audit Committee Chair annual fee | | | | | $ | 15,000 | | | |
| | Compensation Committee Chair annual fee | | | | | $ | 12,500 | | | |
| | Governance Committee Chair annual fee | | | | | $ | 7,500 | | | |
| |
Name
|
| | |
Fees earned or
paid in cash ($)(2) |
| | |
Stock
Awards ($)(3) |
| | |
Total ($)(2)
|
| | |||||||||
| | Edie A. Ames(1) | | | | | $ | 196,800 | | | | | | | — | | | | | | $ | 196,800 | | | |
| | Alexander L. Cappello | | | | | $ | 209,300 | | | | | | | — | | | | | | $ | 209,300 | | | |
| | Paul Ginsberg (all paid to Roark) | | | | | $ | 196,800 | | | | | | | — | | | | | | $ | 196,800 | | | |
| | Jerome I. Kransdorf(1) | | | | | $ | 226,339 | | | | | | | — | | | | | | $ | 226,339 | | | |
| | Janice L. Meyer | | | | | $ | 81,800 | | | | | | $ | 115,000 | | | | | | $ | 196,800 | | | |
| | Laurence B. Mindel | | | | | $ | 196,800 | | | | | | | — | | | | | | $ | 196,800 | | | |
| | David B. Pittaway | | | | | $ | 210,433 | | | | | | | — | | | | | | $ | 210,433 | | | |
| | Herbert Simon | | | | | $ | 196,800 | | | | | | | — | | | | | | $ | 196,800 | | | |
| |
Pay Element
|
| | |
2020 Program Changes and Rationale
|
| | |
Individual Pay Adjustments
|
| |
| |
Base Salary
|
| | | • n/a | | | |
•
Base salary increases ranged from 0%-4.9% for the Named Executive Officers
•
In response to the effects of the COVID-19 pandemic on our business, the base salaries of our Chief
|
| |
| |
Pay Element
|
| | |
2020 Program Changes and Rationale
|
| | |
Individual Pay Adjustments
|
| |
| | | | | | | | | |
Executive Officer and other Named Executive Officers were reduced from April 1, 2020 through September 14, 2020
|
| |
| |
Performance Incentive Plan
— 75% Adjusted EBIDTAR — 25% Strategic Goals |
| | |
•
Revised strategic metrics to reflect business strategy prior to the COVID-19 pandemic. In July 2020 the Committee approved revised strategic objectives to better align management’s focus with the needs of the business given the sudden and severe challenges from the COVID-19 pandemic.
|
| | |
•
No changes to target bonus opportunities as percent of base salary
|
| |
| |
Long-Term Stock Incentive Plan
— 50% performance shares tied to earnings per share (EPS), sales per square foot and profit goals, weighted equally, over a three-year period — 25% stock options — 25% time-vested restricted stock, with election to take in options, if desired |
| | |
• n/a
|
| | |
•
Long-term grant value increases ranged from 2.2%-3.6%
|
| |
| |
What We Do
|
| | |
What We Don’t Do
|
| |
| |
Pay for Performance—A significant portion of executive compensation is performance-based, tied to pre-established performance goals aligned with our short- and long-term objectives and stockholder value creation
|
| | | No Payment of Dividends on Unvested Awards— Any dividends or dividend equivalents related to equity awards are subject to the same vesting restrictions as the underlying awards | | |
| |
Focus on Retention and Long-Term Value Creation —We use longer equity vesting periods than our peers (generally ratably over five years for stock options and over three to five years for restricted stock/units, versus three to four years for our peer group)
|
| | | No Single Trigger Benefits—Except where awards are not assumed by the surviving or acquiring entity, any payments or benefits in the event of a change in control require a qualifying termination of employment (“double trigger”) | | |
| |
What We Do
|
| | |
What We Don’t Do
|
| |
| |
Stock Ownership Guidelines—We maintain stock ownership guidelines to encourage executives to think like our long-term stockholders
|
| | | No Automatic Retirement Payments—We do not provide automatic acceleration of equity awards upon retirement | | |
| |
Compensation Recoupment Policy—We maintain a Clawback Policy that applies when inaccurate financial statements have resulted in incentive payments and/or equity awards to our executives
|
| | | No Excessive Perquisites—We generally only provide perquisites to Named Executive Officers that are available to other members of senior management | | |
| |
Effectively Manage Dilution—We neutralize the impact of dilution from employee equity grants with a share repurchase program
|
| | | No Tax Gross-Ups Upon Change in Control—We do not gross-up executive perquisite taxes or excise taxes in connection with a change in control | | |
| |
Regularly Consider Stockholder Feedback—We conduct an annual stockholder say-on-pay vote and we engage with interested stockholders and receive their feedback on our executive compensation program
|
| | | No Hedging and Pledging—We prohibit all employees and directors from engaging in hedging, pledging and speculative transactions in derivatives of Company securities | | |
| |
Assess and Mitigate Risk—We conduct an annual risk assessment to identify any significant risks in our incentive compensation programs
|
| | | No “Repricing”—We prohibit repricing of stock options without stockholder approval | | |
| |
Independent Compensation Consultant—Our Compensation Committee engages an independent consultant for objective advice regarding executive pay
|
| | | No Multi-Year Guarantees—We do not provide multi-year guarantees for salary increases, bonus or equity compensation | | |
| |
Element
|
| | |
Description
|
| | |
Performance Considerations
|
| | |
Primary Objectives
|
| |
| | Base Salary | | | |
•
Fixed cash payment
|
| | |
•
Based on level of responsibility, experience, tenure in role, individual performance and expected future value/contribution
|
| | |
•
Attract and retain talent
•
Provide competitive compensation
•
Recognize career experience
•
Reward individual performance
|
| |
| | Performance Incentive Plan | | | |
•
Variable performance-based annual cash incentive, tied to achieving pre-established financial and strategic goals
|
| | |
•
Target bonus is a percentage of base salary, based on management position
•
Bonus based 75% on achievement of adjusted EBITDAR and 25% on achievement of strategic goals
•
Adjusted EBITDAR portion can pay out from 30%—200% of target; strategic portion capped at 100% of target
•
The actual amount of the bonus payable will be determined by the Compensation Committee
|
| | |
•
Promote and reward high performance
•
Motivate achievement of Company, divisional and/or individual financial and/or strategic objectives over the year
|
| |
| |
Element
|
| | |
Description
|
| | |
Performance Considerations
|
| | |
Primary Objectives
|
| |
| | Long-term Stock Incentive Plan | | | |
•
Stock options generally vest ratably over five years
•
Performance-based restricted stock generally eligible to vest from year-three to year-five if performance goals are achieved
•
Time-based restricted stock vests over five years
|
| | |
•
Value of award directly linked to long-term stock price and options only have value if stock price increases
•
Performance awards based on adjusted EPS, sales per productive square foot, and adjusted controllable profit goals; 60% of any shares earned at end of three-year performance period are vested and the remaining shares vest 20% on each of the fourth and fifth anniversaries of grant
•
60% of the time-based restricted stock vests on the third anniversary of grant, and the remaining shares vest 20% on each of the fourth and fifth anniversaries of grant
|
| | |
•
Build executive equity ownership to increase alignment of executive and stockholder interests
•
Attract and retain talent
•
Correlate our financial performance and stock price and executive compensation
|
| |
| | Retirement and Welfare Benefits | | | |
•
Medical, dental, vision, life and long-term disability insurance
•
Nonqualified deferred compensation plan
•
Defined benefit retirement agreement (for Chief Executive Officer only)
|
| | |
•
Not applicable
|
| | |
•
Attract and retain talent
•
Provide competitive compensation
•
Provide reasonable security to allow executives to perform at their best level
|
| |
| | Executive Perquisites | | | |
•
Company-leased vehicle or car allowance
•
Biennial health physical for executives at Senior Vice President level and above
•
Relocation benefits on a case-by-case basis
•
Sabbatical leave program (currently suspended due to the COVID-19 pandemic)
|
| | |
•
Not applicable
|
| | |
•
Attract and retain talent
•
Provide competitive benefits
•
Promote health and wellbeing of senior executives
|
| |
| | BJ’s Restaurants, Inc. | | | | Dave & Buster’s Entertainment, Inc. | | | | Red Robin Gourmet Burgers, Inc. | | |
| | Bloomin’ Brands, Inc. | | | | Denny’s Corporation | | | | Texas Roadhouse, Inc. | | |
| | Brinker International, Inc. | | | | Dine Brands Global, Inc. | | | | The Wendy’s Company | | |
| | Chipotle Mexican Grill, Inc. | | | | Domino’s Pizza, Inc. | | | |
Wyndham Hotels & Resorts, Inc.
|
| |
| | Cracker Barrel Old Country Store, Inc. | | | | Hyatt Hotels Corporation | | | | | | |
| | Darden Restaurants, Inc.(1) | | | | Jack in the Box Inc. | | | | | | |
| | | | | |
FY20 Base Salary
|
| | |
% Change
|
| | ||||||
| | David Overton, Chairman of the Board and Chief Executive Officer | | | | | $ | 995,000 | | | | | | | 0% | | | |
| | David M. Gordon, President, The Cheesecake Factory Incorporated | | | | | $ | 675,000 | | | | | | | 3.8% | | | |
| | Matthew E. Clark, Executive Vice President and Chief Financial Officer | | | | | $ | 535,000 | | | | | | | 4.9% | | | |
| | Scarlett May, Executive Vice President, General Counsel and Secretary | | | | | $ | 510,000 | | | | | | | 4.1% | | | |
| | Keith T. Carango, President, The Cheesecake Factory Bakery Incorporated | | | | | $ | 415,000 | | | | | | | 3.0% | | | |
| | | | | |
Performance Incentive Plan Bonus as % of Salary(1)
|
| | |||||||||||||||||
| | | | | |
Threshold (2)
|
| | |
Target (3)
|
| | |
Maximum (4)
|
| | |||||||||
| | David Overton | | | | | | 24.8% | | | | | | | 110% | | | | | | | 192.5% | | | |
| | David M. Gordon | | | | | | 18.0% | | | | | | | 80% | | | | | | | 140.0% | | | |
| | Matthew E. Clark | | | | | | 15.8% | | | | | | | 70% | | | | | | | 122.5% | | | |
| | Scarlett May | | | | | | 14.6% | | | | | | | 65% | | | | | | | 113.8% | | | |
| | Keith T. Carango | | | | | | 14.6% | | | | | | | 65% | | | | | | | 113.8% | | | |
| | | | | |
Threshold/Target
|
| | |
Actual
|
| | |
Performance vs. Target
|
| |
| |
Company-wide adjusted EBITDAR target (75% of award)
|
| | | $403.5M/$474.7M | | | | $186.8M | | | | Did not meet threshold | | |
| | Strategic initiatives (25% of award) ** Pandemic-Adjusted Goals ** | | |
| | | | | |
Threshold/Target
|
| | |
Actual
|
| | |
Performance vs. Target
|
| |
| |
•
COVID-19 Response: Relaunch Full-Service Operations, Restore Liquidity, Right-Size Business
|
| | | Reopen for full-service dining as state/local jurisdictions permit; right size corporate general and administrative expenses; reevaluate and reprioritize corporate projects. | | | | | | | | 100% Completed | | |
| |
•
FRC and North Italia—Supporting Growth, Ongoing Management and Optimization
|
| | | Support planned growth; open new North Italia locations; include North Italia in financial planning; satisfy North Italia supply chain needs; develop short- and long-term roadmap for FRC transition. | | | | | | | | 100% Completed | | |
| |
•
ESG
|
| | | Publish ESG report. | | | | | | | | 100% Completed | | |
| | | | | |
Threshold/Target
|
| | |
Actual
|
| | |
Performance vs. Target
|
| |
| |
Company-wide adjusted EBITDAR target (50% of award)
|
| | | $403.5M/$474.7M | | | | $186.8M | | | | Did not meet threshold | | |
| |
Bakery adjusted EBITDAR target (25% of award)
|
| | | $13.7M/$16.1M | | | | $14.9M | | | | 92.8% | | |
| | Bakery strategic objectives (25% of award)**Pandemic-Adjusted Goals** | | | | | | | | | | | | | | |
| |
•
COVID-19 Response
|
| | | Achieve specified productivity and output objectives; implement a third shift and achieve staffing requirements. | | | | | | | | 100% Completed | | |
| |
•
Capacity Plan Actions for 2020
|
| | | Achieve specified capacity requirements. | | | | | | | | 60% Completed | | |
| |
•
ESG
|
| | | Reduce water consumption and waste water treatment costs while maintaining or improving sanitary conditions. | | | | | | | | 65% Completed | | |
| |
•
ERP
|
| | | Perform initial evaluation of potential ERP solutions; submit requests for proposals to identified ERP providers; review responses, request demos and evaluate ERP providers; identify and engage appropriate solution; prepare project plan. | | | | | | | | 100% Completed | | |
| | | | | |
Target Award
|
| | |
2020 Unadjusted
Bonus Payout |
| | |
Unadjusted Payout
Compared to Target |
| | |||||||||
| | David Overton | | | | | $ | 1,094,500 | | | | | | $ | 273,625 | | | | | | | 25% | | | |
| | David Gordon | | | | | $ | 540,000 | | | | | | $ | 135,000 | | | | | | | 25% | | | |
| | Matthew E. Clark | | | | | $ | 374,500 | | | | | | $ | 93,626 | | | | | | | 25% | | | |
| | Scarlett May | | | | | $ | 331,500 | | | | | | $ | 82,875 | | | | | | | 25% | | | |
| | Keith T. Carango | | | | | $ | 269,750 | | | | | | $ | 101,156 | | | | | | | 37.5% | | | |
| | | | | |
Target Award
|
| | |
2020 Actual Bonus Payout
|
| | |
Actual Payout Compared to Target
|
| | |||||||||
| | David Overton | | | | | $ | 1,094,500 | | | | | | $ | 383,075 | | | | | | | 35% | | | |
| | David Gordon | | | | | $ | 540,000 | | | | | | $ | 189,000 | | | | | | | 35% | | | |
| | Matthew E. Clark | | | | | $ | 374,500 | | | | | | $ | 131,075 | | | | | | | 35% | | | |
| | Scarlett May | | | | | $ | 331,500 | | | | | | $ | 116,025 | | | | | | | 35% | | | |
| | Keith T. Carango | | | | | $ | 269,750 | | | | | | $ | 128,131 | | | | | | | 47.5% | | | |
| |
Name
|
| | |
Number of
Shares Subject to Nonqualified Stock Options(1) |
| | |
Number of
Restricted Stock Awards-Performance Targets(2) |
| | |
Number of
Restricted Stock Awards-Time Based Vesting(3) |
| | |
Value of
Combined Grants (thousands) |
| | ||||||||||||
| | David Overton | | | | | | 336,900 | | | | | | | 56,050 | | | | | | | — | | | | | | $ | 4,497 | | | |
| | David M. Gordon | | | | | | 76,300 | | | | | | | 12,730 | | | | | | | — | | | | | | $ | 1,020 | | | |
| | Matthew E. Clark | | | | | | 68,900 | | | | | | | 11,460 | | | | | | | 2,490(4) | | | | | | $ | 1,020 | | | |
| | Scarlett May | | | | | | 18,800 | | | | | | | 6,230 | | | | | | | 3,100 | | | | | | $ | 500 | | | |
| | Keith T. Carango | | | | | | 30,000 | | | | | | | 5,100 | | | | | | | — | | | | | | $ | 405 | | | |
| |
Position with Company
|
| | |
Multiple of Salary
|
| | |||
| | Chief Executive Officer of the Company | | | | | | 6x | | | |
| |
President of the Company or of our wholly owned subsidiaries, The Cheesecake Factory Restaurants, Inc. or The Cheesecake Factory Bakery Incorporated
|
| | | | | 2x | | | |
| | Executive Vice President of the Company | | | | | | 2x | | | |
| Dated: , 2021 | | | Respectfully submitted, | |
| | | |
Alexander L. Cappello, Chairman
Jerome I. Kransdorf Laurence B. Mindel Herbert Simon |
|
| |
Name and
Principal Position |
| | |
Fiscal
Year |
| | |
Salary
($) |
| | |
Bonus
($)(1) |
| | |
Restricted
Stock/Units Awards ($)(2) |
| | |
Option
Awards ($)(2) |
| | |
Non-Equity
Incentive Plan Compensation ($) |
| | |
All Other
Compensation ($)(3) |
| | |
Total
($) |
| | ||||||||||||||||||||||||
| |
David Overton
Chairman of the Board and Chief Executive Officer |
| | | |
|
2020
2019 2018 |
| | | | |
|
914,635
995,000 995,000 |
| | | | |
|
109,450
- - |
| | | | |
|
2,250,968
3,272,733 2,098,876 |
| | | | |
|
2,245,964
1,090,506 2,095,964 |
| | | | |
|
273,625
1,094,500 930,325 |
| | | | |
|
119,395
263,150 146,986 |
| | | | |
|
5,914,037
6,715,889 6,267,151 |
| | |
| |
David M. Gordon
President, The Cheesecake Factory Incorporated |
| | | |
|
2020
2019 2018 |
| | | | |
|
615,673
646,154 621,154 |
| | | | |
|
54,000
- - |
| | | | |
|
511,237
741,083 489,424 |
| | | | |
|
508,659
245,364 485,123 |
| | | | |
|
135,000
516,923 422,385 |
| | | | |
|
49,518
91,029 58,230 |
| | | | |
|
1,874,087
2,240,553 2,076,316 |
| | |
| |
Matthew E. Clark
Executive Vice President and Chief Financial Officer |
| | | |
|
2020
2019 2018 |
| | | | |
|
486,981
506,923 483,846 |
| | | | |
|
37,450
- - |
| | | | |
|
560,232
451,094 447,070 |
| | | | |
|
459,326
449,834 444,209 |
| | | | |
|
93,625
354,846 287,888 |
| | | | |
|
29,939
53,693 31,153 |
| | | | |
|
1,667,553
1,816,390 1,694,166 |
| | |
| |
Scarlett May
Executive Vice President, General Counsel and Secretary |
| | | |
|
2020
2019 2018 |
| | | | |
|
464,961
487,692 304,052 |
| | | | |
|
33,150
- - |
| | | | |
|
374,693
363,637 359,766 |
| | | | |
|
125,331
121,633 119,155 |
| | | | |
|
82,875
317,000 167,989 |
| | | | |
|
34,467
44,159 227,804 |
| | | | |
|
1,115,477
1,334,121 1,178,766 |
| | |
| |
Keith T. Carango
President, The Cheesecake Factory Bakery Incorporated |
| | | |
|
2020
2019 2018 |
| | | | |
|
379,173
401,000 386,250 |
| | | | |
|
26,975
- - |
| | | | |
|
204,816
294,592 255,502 |
| | | | |
|
199,997
96,468 135,581 |
| | | | |
|
101,156
254,134 92,925 |
| | | | |
|
23,962
35,267 21,295 |
| | | | |
|
936,079
1,081,461 891,553 |
| | |
Name
|
| |
Automobile
Program ($)(a) |
| |
ESP
Company Match ($)(b) |
| |
Dividends
Paid or Accrued on Unvested Restricted Stock ($)(c) |
| |
Life
Insurance ($)(d) |
| |
Executive
Physical Exam ($)(e) |
| |
Total
($) |
| ||||||||||||||||||
Mr. Overton
|
| | | | 22,882 | | | | | | — | | | | | | 88,479 | | | | | | 8,034 | | | | | | — | | | | | | 119,395 | | |
Mr. Gordon
|
| | | | 20,035 | | | | | | 6,157 | | | | | | 20,230 | | | | | | 3,096 | | | | | | — | | | | | | 49,518 | | |
Mr. Clark
|
| | | | 11,000 | | | | | | — | | | | | | 17,669 | | | | | | 1,270 | | | | | | — | | | | | | 29,939 | | |
Ms. May
|
| | | | 13,538 | | | | | | 4,650 | | | | | | 11,590 | | | | | | 1,214 | | | | | | 3,475 | | | | | | 34,467 | | |
Mr. Carango
|
| | | | 14,400 | | | | | | — | | | | | | 7,740 | | | | | | 1,822 | | | | | | — | | | | | | 23,962 | | |
| | | | | | | | | | | | |
Estimated Future Payouts Under
Non-Equity Incentive Plan Awards(1) |
| | |
Estimated Future Payouts Under
Equity Incentive Plan Awards(4) |
| | |
All Other
Stock Awards: Number of Shares of Stock or Units (#)(5) |
| | |
All Other
Option Awards: Number of Securities Underlying Options (#)(6) |
| | |
Exercise or
Base Price of Option Awards ($/Sh) |
| | |
Grant Date
Fair Value of Stock and Option Awards ($)(7) |
| | ||||||||||||||||||||||||||||||||||||||||||||||
| |
Name
|
| | |
Grant
Date |
| | |
Threshold
($)(2) |
| | |
Target
($)(3) |
| | |
Maximum
($) |
| | |
Threshold
(#) |
| | |
Target
(#) |
| | |
Maximum
(#) |
| | |||||||||||||||||||||||||||||||||||||||||||||||||
| |
David Overton
|
| | | | | n/a | | | | | | $ | 246,760 | | | | | | $ | 1,094,500 | | | | | | $ | 1,915,375 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/18/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 336,900 | | | | | | $ | 40.16 | | | | | | $ | 2,245,964 | | | | |||||
| | | 2/18/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 33,630 | | | | | | | 56,050 | | | | | | | 84,075 | | | | | | | | | | | | | | | | | | | | $ | 2,250,968 | | | | |||||
| |
David M. Gordon
|
| | | | | n/a | | | | | | $ | 121,500 | | | | | | $ | 540,000 | | | | | | $ | 945,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/18/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 76,300 | | | | | | $ | 40.16 | | | | | | $ | 508,659 | | | | |||||
| | | 2/18/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,638 | | | | | | | 12,730 | | | | | | | 19,095 | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 511,237 | | | | |||||
| |
Matthew E. Clark
|
| | | | | n/a | | | | | | $ | 84,530 | | | | | | $ | 374,500 | | | | | | $ | 655,375 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/18/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 68,900 | | | | | | $ | 40.16 | | | | | | $ | 459,326 | | | | |||||
| | | 2/18/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,490 | | | | | | | | | | | | | | | | | | | | $ | 99,998 | | | | |||||
| | | 2/18/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,876 | | | | | | | 11,460 | | | | | | | 17,190 | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 460,234 | | | | |||||
| |
Scarlett May
|
| | | | | n/a | | | | | | $ | 74,460 | | | | | | $ | 331,500 | | | | | | $ | 580,125 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/18/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 18,800 | | | | | | $ | 40.16 | | | | | | $ | 125,331 | | | | |||||
| | | 2/18/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,100 | | | | | | | | | | | | | | | | | | | | $ | 124,496 | | | | |||||
| | | 2/18/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,738 | | | | | | | 6,230 | | | | | | | 9,345 | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 250,197 | | | | |||||
| |
Keith T. Carango
|
| | | | | n/a | | | | | | $ | 60,590 | | | | | | $ | 269,750 | | | | | | $ | 472,063 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/18/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 30,000 | | | | | | $ | 40.16 | | | | | | $ | 199,997 | | | | |||||
| | | 2/18/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,060 | | | | | | | 5,100 | | | | | | | 7,650 | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 204,816 | | | |
| | | | | |
Option Awards
|
| | |
Stock Awards
|
| | ||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Restricted Stock
|
| | |
PSU/PSA Awards
|
| | ||||||||||||||||||||
| |
Name
|
| | |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| | |
Number of
Securities Underlying Unexercised Options (#) Unexercisable(1) |
| | |
Option
Exercise Price ($) |
| | |
Option
Expiration Date |
| | |
Number of
Shares or Units of Stock That Have Not Vested (#)(2) |
| | |
Market
Value of Shares or Units of Stock That have Not Vested ($)(3) |
| | |
Number of
Unearned Shares, Units or Other Rights That Have Not Vested (#)(2) |
| | |
Market or
Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(3) |
| | ||||||||||||||||||||||||
| |
David Overton(4)
|
| | | | | 175,000 | | | | | | | — | | | | | | | 35.62 | | | | | | | 3/7/21 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| | | 145,000 | | | | | | | — | | | | | | | 48.19 | | | | | | | 3/6/22 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 135,000 | | | | | | | — | | | | | | | 48.01 | | | | | | | 3/5/23 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 65,600 | | | | | | | 16,400(4a) | | | | | | | 50.26 | | | | | | | 3/3/24 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 44,100 | | | | | | | 29,400(4b) | | | | | | | 61.59 | | | | | | | 3/2/25 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 71,720 | | | | | | | 107,580(4c) | | | | | | | 47.06 | | | | | | | 2/15/26 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 20,800 | | | | | | | 83,200(4d) | | | | | | | 46.03 | | | | | | | 2/13/27 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | 336,900(4e) | | | | | | | 40.16 | | | | | | | 2/18/30 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 5,000(9a) | | | | | | $ | 184,900 | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 23,700(9b) | | | | | | $ | 876,426 | | | | | | | 47,400(9b) | | | | | | $ | 1,752,852 | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 3,750(9c) | | | | | | $ | 138,675 | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 56,050(9d) | | | | | | $ | 2,072,729 | | | | |||||
| |
David M. Gordon(5)
|
| | | | | 25,000 | | | | | | | — | | | | | | | 35.62 | | | | | | | 3/7/21 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| | | 25,000 | | | | | | | — | | | | | | | 48.19 | | | | | | | 3/6/22 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 25,500 | | | | | | | — | | | | | | | 48.01 | | | | | | | 3/5/23 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 15,440 | | | | | | | 3,860(5a) | | | | | | | 50.26 | | | | | | | 3/3/24 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 9,990 | | | | | | | 6,660(5b) | | | | | | | 61.59 | | | | | | | 3/2/25 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 16,600 | | | | | | | 24,900(5c) | | | | | | | 47.06 | | | | | | | 2/15/26 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 4,680 | | | | | | | 18,720(5d) | | | | | | | 46.03 | | | | | | | 2/13/27 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | 76,300(5e) | | | | | | | 40.16 | | | | | | | 2/18/30 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 1,150(10a) | | | | | | $ | 42,527 | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 5,300(10b) | | | | | | $ | 195,994 | | | | | | | 10,800(10b) | | | | | | $ | 399,384 | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 863(10c) | | | | | | $ | 31,914 | | | | | | | | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 12,730(10d) | | | | | | $ | 470,755 | | | | |||||
| |
Matthew E. Clark(6)
|
| | | | | 5,200 | | | | | | | — | | | | | | | 35.62 | | | | | | | 3/7/21 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| | | 11,500 | | | | | | | — | | | | | | | 48.19 | | | | | | | 3/6/22 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 10,000 | | | | | | | — | | | | | | | 48.01 | | | | | | | 3/5/23 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 7,680 | | | | | | | 1,920(6a) | | | | | | | 50.26 | | | | | | | 3/3/24 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 4,800 | | | | | | | 3,200(6b) | | | | | | | 61.59 | | | | | | | 3/2/25 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 2,892 | | | | | | | 1,928(6c) | | | | | | | 57.30 | | | | | | | 6/7/25 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 15,200 | | | | | | | 22,800(6d) | | | | | | | 47.06 | | | | | | | 2/15/26 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 8,580 | | | | | | | 34,320(6e) | | | | | | | 46.03 | | | | | | | 2/13/27 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | 68,900(6f) | | | | | | | 40.16 | | | | | | | 2/18/30 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 1,060(11a) | | | | | | $ | 39,199 | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 1,780(11b) | | | | | | $ | 65,824 | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 9,800(11c) | | | | | | $ | 362,404 | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 2,490(11d) | | | | | | $ | 92,080 | | | | | | | 11,460(11d) | | | | | | $ | 423,791 | | | |
| | | | | |
Option Awards
|
| | |
Stock Awards
|
| | ||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Restricted Stock
|
| | |
PSU/PSA Awards
|
| | ||||||||||||||||||||
| |
Name
|
| | |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| | |
Number of
Securities Underlying Unexercised Options (#) Unexercisable(1) |
| | |
Option
Exercise Price ($) |
| | |
Option
Expiration Date |
| | |
Number of
Shares or Units of Stock That Have Not Vested (#)(2) |
| | |
Market
Value of Shares or Units of Stock That have Not Vested ($)(3) |
| | |
Number of
Unearned Shares, Units or Other Rights That Have Not Vested (#)(2) |
| | |
Market or
Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(3) |
| | ||||||||||||||||||||||||
| |
Scarlett May(7)
|
| | | | | 3,680 | | | | | | | 5,520(7a) | | | | | | | 52.14 | | | | | | | 5/30/26 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| | | 2,320 | | | | | | | 9,280(7b) | | | | | | | 46.03 | | | | | | | 2/13/27 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | 18,800(7c) | | | | | | | 40.16 | | | | | | | 2/18/30 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 2,300(12a) | | | | | | $ | 85,054 | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 2,600(12b) | | | | | | $ | 96,148 | | | | | | | 5,300(12b) | | | | | | $ | 195,994 | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 3,100(12c) | | | | | | $ | 114,638 | | | | | | | 6,230(12c) | | | | | | $ | 230,385 | | | | |||||
| |
Keith T. Carango(8)
|
| | | | | 2,000 | | | | | | | — | | | | | | | 35.62 | | | | | | | 3/7/21 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| | | 3,200 | | | | | | | — | | | | | | | 48.19 | | | | | | | 3/6/22 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 4,200 | | | | | | | — | | | | | | | 48.01 | | | | | | | 3/5/23 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 3,780 | | | | | | | 1,260(8a) | | | | | | | 50.26 | | | | | | | 3/3/24 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 3,120 | | | | | | | 2,080(8b) | | | | | | | 61.59 | | | | | | | 3/2/25 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 3,320 | | | | | | | 4,980(8c) | | | | | | | 47.06 | | | | | | | 2/15/26 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 1,200 | | | | | | | 1,800(8d) | | | | | | | 51.74 | | | | | | | 4/5/26 | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | |||||
| | | 1,840 | | | | | | | 7,360(8e) | | | | | | | 46.03 | | | | | | | 2/13/27 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||
| | | — | | | | | | | 30,000(8f) | | | | | | | 40.16 | | | | | | | 2/18/30 | | | | | | | | | | | | | | | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 700(13a) | | | | | | $ | 25,886 | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 1,180(13b) | | | | | | $ | 43,636 | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 4,000(13c) | | | | | | $ | 147,920 | | | | | | | — | | | | | | | — | | | | |||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,300(13d) | | | | | | $ | 48,074 | | | | | | | — | | | | | | | — | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 2,100(13e) | | | | | | $ | 77,658 | | | | | | | 4,300(13e) | | | | | | $ | 159,014 | | | | |||||
| | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | 5,100(13f) | | | | | | $ | 188,598 | | | |
| | | | | |
Nonqualified Stock
Option Awards |
| | |
Restricted
Stock Awards |
| | ||||||||||||||||||||
| |
Name
|
| | |
Number of
Shares Acquired on Exercise (#) |
| | |
Value
Realized Upon Exercise ($)(1) |
| | |
Number of
Shares Acquired on Vesting (#) |
| | |
Value
Realized on Vesting ($)(2) |
| | ||||||||||||
| | David Overton | | | | | | — | | | | | | | — | | | | | | | 15,750 | | | | | | $ | 523,828 | | | |
| | David M. Gordon | | | | | | — | | | | | | | — | | | | | | | 3,553 | | | | | | $ | 118,291 | | | |
| | Matthew E. Clark | | | | | | — | | | | | | | — | | | | | | | 4,830 | | | | | | $ | 167,628 | | | |
| | Scarlett May | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| | Keith T. Carango | | | | | | — | | | | | | | — | | | | | | | 3,170 | | | | | | $ | 110,110 | | | |
| |
Name
|
| | |
Plan Name
|
| | |
Number of
years of Credited Service (#) |
| | |
Present
Value of Accumulated Benefit ($) |
| | |
Payments
During Last Fiscal Year ($) |
| | |||||||||
| | David Overton | | | |
Founder’s Retirement Benefit(1)
|
| | | | | — | | | | | | $ | 6,115,000(2) | | | | | | | — | | | |
| |
Name
|
| | |
Executive
Contributions in Fiscal 2020 $(1) |
| | |
Company
Contributions in Fiscal 2020 $(2) |
| | |
Aggregate
Earnings/(Losses) in Fiscal 2020 $ |
| | |
Aggregate
Withdrawals or Distributions in Fiscal 2020 $ |
| | |
Aggregate
Balance at December 31, 2020 $(3) |
| | |||||||||||||||
| |
David Overton
|
| | | | | — | | | | | | | — | | | | | | | 39,911 | | | | | | | — | | | | | | | 289,628 | | | |
| |
David M. Gordon
|
| | | | | 45,527 | | | | | | | 6,192 | | | | | | | 124,531 | | | | | | | — | | | | | | | 1,362,492 | | | |
| |
Matthew E. Clark
|
| | | | | — | | | | | | | — | | | | | | | 7 | | | | | | | — | | | | | | | 2,671 | | | |
| |
Scarlett May
|
| | | | | 19,414 | | | | | | | 4,657 | | | | | | | 6,516 | | | | | | | 10,592 | | | | | | | 57,278 | | | |
| |
Keith T. Carango
|
| | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| | | | | |
Change In Control
|
| | |
Qualifying Termination of Employment
without Change In Control |
| | ||||||||||||||||||||||||||||||||||
| |
David Overton
|
| | |
Payout with
assumption or continuation of awards(1) ($) |
| | |
Payout without
assumption or continuation of awards(2) ($) |
| | |
Payout upon
termination by Company without Cause, or by Executive due to Constructive Termination(3) ($) |
| | |
Payout upon
Death or Permanent Disability(4) ($) |
| | |
Payout upon
termination by Company without Cause, or by Executive due to Constructive Termination(5) ($) |
| | |
Payout upon
termination with Cause or voluntary termination, including retirement ($) |
| | ||||||||||||||||||
| | Cash Severance(6) | | | | | | — | | | | | | | — | | | | | | | 252,577 | | | | | | | — | | | | | | | 252,577 | | | | | | | — | | | |
| | Pro-Rata Bonus(7) | | | | | | — | | | | | | | — | | | | | | | 1,094,500 | | | | | | | — | | | | | | | 1,094,500 | | | | | | | — | | | |
| |
Intrinsic Value of Equity Acceleration(8)
|
| | | | | — | | | | | | | 5,025,582 | | | | | | | 1,901,142 | | | | | | | 1,901,142 | | | | | | | 3,973,871 | | | | | | | — | | | |
| | Benefits and Other Perquisites(9) | | | | | | — | | | | | | | — | | | | | | | 5,721 | | | | | | | — | | | | | | | 5,721 | | | | | | | — | | | |
| | Health & Welfare Benefits(9) | | | | | | — | | | | | | | — | | | | | | | 4,962 | | | | | | | — | | | | | | | 4,962 | | | | | | | — | | | |
| | Gross-up on Excise Tax | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| | Founder’s Retirement Benefit(10) | | | | | | — | | | | | | | — | | | | | | | 6,115,000 | | | | | | | 6,115,000 | | | | | | | 6,115,000 | | | | | | | 6,115,000 | | | |
| | Total CEO Benefit | | | | | | — | | | | | | | 5,025,582 | | | | | | | 9,373,902 | | | | | | | 8,016,142 | | | | | | | 11,446,631 | | | | | | | 6,115,000 | | | |
| | | | | |
Change In Control
|
| | |
Termination without Change In Control
|
| | |||||||||||||||||||||||||||||||||||||||||
| | | | | |
Payout with
assumption or continuation of awards(1) ($) |
| | |
Payout without
assumption or continuation of awards(2) ($) |
| | |
Payout upon
termination by Company without Cause, or Constructive Termination by Executive within 18 months(3) ($) |
| | |
Payout
upon permanent disability ($) |
| | |
Payout
upon death ($) |
| | |
Payout upon
termination by Company without Cause, or by Executive as a result of Constructive Termination ($) |
| | |
Payout
upon termination with Cause or voluntary termination, including retirement ($) |
| | |||||||||||||||||||||
| | David M. Gordon | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cash Severance(5) | | | | | | — | | | | | | | — | | | | | | | 675,000 | | | | | | | 675,000 | | | | | | | 675,000 | | | | | | | 675,000 | | | | | | | — | | | |
| | Pro-Rata Bonus(6) | | | | | | — | | | | | | | — | | | | | | | 189,000 | | | | | | | 189,000 | | | | | | | 189,000 | | | | | | | 189,000 | | | | | | | — | | | |
| |
Intrinsic Value of Equity
Acceleration(7) |
| | | | | — | | | | | | | 1,140,574 | | | | | | | 431,668 | | | | | | | 431,668(4) | | | | | | | 431,668(4) | | | | | | | 902,423(9) | | | | | | | — | | | |
| |
Health & Welfare Benefits(8)
|
| | | | | — | | | | | | | — | | | | | | | 16,935 | | | | | | | 16,935 | | | | | | | 16,935 | | | | | | | 16,935 | | | | | | | — | | | |
| |
Gross-up on Excise Tax
|
| | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| |
David M. Gordon Total
|
| | | | | — | | | | | | | 1,140,574 | | | | | | | 1,312,603 | | | | | | | 1,312,603 | | | | | | | 1,312,603 | | | | | | | 1,783,358 | | | | | | | — | | | |
| | Matthew E. Clark | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cash Severance(5) | | | | | | — | | | | | | | — | | | | | | | 535,000 | | | | | | | 535,000 | | | | | | | 535,000 | | | | | | | 535,000 | | | | | | | — | | | |
| | Pro-Rata Bonus(6) | | | | | | — | | | | | | | — | | | | | | | 131,075 | | | | | | | 131,075 | | | | | | | 131,075 | | | | | | | 131,075 | | | | | | | — | | | |
| |
Intrinsic Value of Equity
Acceleration(7) |
| | | | | — | | | | | | | 983,298 | | | | | | | 322,466 | | | | | | | 322,466(4) | | | | | | | 322,466(4) | | | | | | | 838,337(9) | | | | | | | — | | | |
| |
Health & Welfare Benefits(8)
|
| | | | | — | | | | | | | — | | | | | | | 16,935 | | | | | | | 16,935 | | | | | | | 16,935 | | | | | | | 16,935 | | | | | | | — | | | |
| |
Gross-up on Excise Tax
|
| | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| |
Matthew E. Clark Total
|
| | | | | — | | | | | | | 983,298 | | | | | | | 1,005,476 | | | | | | | 1,005,476 | | | | | | | 1,005,476 | | | | | | | 1,521,347 | | | | | | | — | | | |
| | Scarlett May | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cash Severance(5) | | | | | | — | | | | | | | — | | | | | | | 510,000 | | | | | | | 510,000 | | | | | | | 510,000 | | | | | | | 510,000 | | | | | | | — | | | |
| | Pro-Rata Bonus(6) | | | | | | — | | | | | | | — | | | | | | | 116,025 | | | | | | | 116,025 | | | | | | | 116,025 | | | | | | | 116,025 | | | | | | | — | | | |
| |
Intrinsic Value of Equity
Acceleration(7) |
| | | | | — | | | | | | | 892,327 | | | | | | | 379,415 | | | | | | | 379,415(4) | | | | | | | 379,415(4) | | | | | | | 724,438(9) | | | | | | | — | | | |
| |
Health & Welfare Benefits(8)
|
| | | | | — | | | | | | | — | | | | | | | 23,054 | | | | | | | 23,054 | | | | | | | 23,054 | | | | | | | 23,054 | | | | | | | — | | | |
| |
Gross-up on Excise Tax
|
| | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| |
Scarlett May Total
|
| | | | | — | | | | | | | 892,327 | | | | | | | 1,028,494 | | | | | | | 1,028,494 | | | | | | | 1,028,494 | | | | | | | 1,373,517 | | | | | | | — | | | |
| | Keith T. Carango | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cash Severance(5) | | | | | | — | | | | | | | — | | | | | | | 415,000 | | | | | | | 415,000 | | | | | | | 415,000 | | | | | | | 415,000 | | | | | | | — | | | |
| | Pro-Rata Bonus(6) | | | | | | — | | | | | | | — | | | | | | | 128,131 | | | | | | | 128,131 | | | | | | | 128,131 | | | | | | | 128,131 | | | | | | | — | | | |
| |
Intrinsic Value of Equity
Acceleration(7) |
| | | | | — | | | | | | | 690,786 | | | | | | | 368,321 | | | | | | | 368,321(4) | | | | | | | 368,321(4) | | | | | | | 556,919(9) | | | | | | | — | | | |
| |
Health & Welfare Benefits(8)
|
| | | | | — | | | | | | | — | | | | | | | 39,617 | | | | | | | 39,617 | | | | | | | 39,617 | | | | | | | 39,617 | | | | | | | — | | | |
| |
Gross-up on Excise Tax
|
| | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| |
Keith T. Carango Total
|
| | | | | — | | | | | | | 690,786 | | | | | | | 951,069 | | | | | | | 951,069 | | | | | | | 951,069 | | | | | | | 1,139,667 | | | | | | | — | | | |
| |
Total Payments (including those for Mr. Overton (see CEO Table above))
|
| | | | | — | | | | | | | 8,732,567 | | | | | | | 13,671,544 | | | | | | | 12,313,784 | | | | | | | 12,313,784 | | | | | | | 17,264,520 | | | | | | | 6,115,000 | | | |
| Dated: , 2021 | | | Respectfully submitted, | |
| | | |
David B. Pittaway, Chair
Alexander L. Cappello Janice L. Meyer |
|
Name and Address of Beneficial Owner(1)
|
| |
Amount and
Nature of Beneficial Ownership(2) |
| |
Percentage
of Total Outstanding(3) |
| ||||||
RC Cake Holdings LLC(4)
|
| | | | 9,603,456 | | | | | | 17.1% | | |
BlackRock, Inc.(5)
|
| | | | 7,532,836 | | | | | | 16.2% | | |
The Vanguard Group, Inc.(6)
|
| | | | 4,274,090 | | | | | | 9.2% | | |
Kayne Anderson Rudnick Investment Management, LLC(7)
|
| | | | 3,931,098 | | | | | | 8.5% | | |
Named Executive Officers, Directors and Director nominees: | | | | | | | | | | | | | |
David Overton(8)
|
| | | | 3,431,766 | | | | | | 7.3% | | |
Edie A. Ames(9)
|
| | | | 5,940 | | | | | | * | | |
Alexander L. Cappello(10)
|
| | | | 5,094 | | | | | | * | | |
Paul D. Ginsberg(11)
|
| | | | — | | | | | | — | | |
Jerome I. Kransdorf(12)
|
| | | | 13,750 | | | | | | * | | |
Laurence B. Mindel(13)
|
| | | | 12,500 | | | | | | * | | |
Janice L. Meyer(14)
|
| | | | 5,283 | | | | | | * | | |
David B. Pittaway(15)
|
| | | | 13,122 | | | | | | * | | |
Herbert Simon(16)
|
| | | | 195,000 | | | | | | * | | |
David M. Gordon(17)
|
| | | | 176,245 | | | | | | * | | |
Matthew E. Clark(18)
|
| | | | 114,892 | | | | | | * | | |
Scarlett May(19)
|
| | | | 27,570 | | | | | | * | | |
Keith T. Carango(20)
|
| | | | 55,059 | | | | | | * | | |
All executive officers and directors as a group (13 persons)(21)
|
| | | | 4,056,221 | | | | | | 8.7% | | |
| | |
Number of Securities
to be Issued Upon Exercise of Outstanding Options, Warrants and Rights |
| |
Weighted Average
Exercise Price of Outstanding Options ($) |
| |
Number of Securities
Remaining Available for Future Issuance Under Equity Compensation Plans(1) |
| |||||||||
Equity compensation plans approved by stockholders
|
| | | | 1,461,972(2) | | | | | $ | 46.77(3) | | | | | | 7,442,461 | | |
Equity compensation plans not approved by
stockholders |
| | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | | 1,461,972 | | | | | $ | 46.77 | | | | | | 7,442,461 | | |
| |
IF YOU PLAN TO ATTEND THE VIRTUAL ANNUAL MEETING
|
| | |||
| |
We will be hosting our Annual Meeting via live webcast only. Any stockholder can attend the Annual Meeting live online at www.virtualshareholdermeeting.com/CAKE2021. The webcast will start at 10:00 a.m., Pacific Daylight Time, on Thursday, May 27, 2021. Stockholders may vote and ask questions while attending the Annual Meeting online. In order to be able to attend the Annual Meeting, you will need the 16-digit control number, which appears on your proxy card (printed in the box and marked by the arrow) and the instructions that accompanied your proxy materials. Instructions on how to participate in the Annual Meeting are also posted online at www.proxyvote.com.
|
| |
| | |
Fiscal Year
2020 |
| |||
Loss from operations
|
| | | $ | (347,437) | | |
COVID-19 related costs
|
| | | | 22,963 | | |
Impairment of assets and lease terminations
|
| | | | 219,333 | | |
Other
|
| | | | (1,173) | | |
Adjusted income from operations
|
| | | $ | (106,314) | | |
Loss from operations
|
| | | $ | (347,437) | | |
Depreciation and amortization expenses
|
| | | | 91,415 | | |
Rent
|
| | | | 188,708 | | |
EBITDAR
|
| | | | (67,314) | | |
COVID-19 related costs
|
| | | | 22,963 | | |
Impairment of assets and lease terminations
|
| | | | 219,333 | | |
Equity compensation expenses
|
| | | | 21,349 | | |
Other
|
| | | | (9,553) | | |
Adjusted EBITDAR
|
| | | $ | 186,778 | | |
| | |
Fiscal Year
|
| |||||||||||||||
| | |
2020
|
| |
2019
|
| |
2018
|
| |||||||||
Net (loss)/income available to common stockholders
|
| | | $ | (277,107) | | | | | $ | 127,293 | | | | | $ | 99,035 | | |
Dividends on Series A preferred stock
|
| | | | 13,485 | | | | | | — | | | | | | — | | |
Direct and incremental Series A preferred stock issuance costs
|
| | | | 10,257 | | | | | | — | | | | | | — | | |
COVID-19 related costs
|
| | | | 22,963 | | | | | | — | | | | | | — | | |
Impairment of assets and lease termination expenses
|
| | | | 219,333 | | | | | | 18,247 | | | | | | 17,861 | | |
Acquisition-related costs
|
| | | | 2,699 | | | | | | 5,270 | | | | | | — | | |
Acquisition-related contingent consideration, compensation and amortization (benefit)/expenses
|
| | | | (3,872) | | | | | | 1,033 | | | | | | — | | |
(Gain)/loss on investments in unconsolidated affiliates
|
| | | | — | | | | | | (39,233) | | | | | | 4,754 | | |
Tax effect of adjustments
|
| | | | (62,692) | | | | | | 3,818 | | | | | | (5,880) | | |
Adjusted net (loss)/income
|
| | | $ | (74,934) | | | | | $ | 116,428 | | | | | $ | 115,770 | | |
Diluted net (loss)/income per common share
|
| | | $ | (6.32) | | | | | $ | 2.86 | | | | | $ | 2.14 | | |
Dividends on Series A preferred stock
|
| | | | 0.27 | | | | | | — | | | | | | — | | |
Direct and incremental Series A preferred stock issuance costs
|
| | | | 0.20 | | | | | | — | | | | | | — | | |
Assumed impact of potential conversion of Series A preferred stock
into common stock |
| | | | 0.80 | | | | | | — | | | | | | — | | |
COVID-19 related costs
|
| | | | 0.46 | | | | | | — | | | | | | — | | |
Impairment of assets and lease termination expenses
|
| | | | 4.36 | | | | | | 0.41 | | | | | | 0.39 | | |
Acquisition-related costs
|
| | | | 0.05 | | | | | | 0.12 | | | | | | — | | |
Acquisition-related contingent consideration, compensation and amortization (benefit)/expenses
|
| | | | (0.08) | | | | | | 0.02 | | | | | | — | | |
(Gain)/loss on investments in unconsolidated affiliates
|
| | | | — | | | | | | (0.88) | | | | | | 0.10 | | |
Tax effect of adjustments
|
| | | | (1.25) | | | | | | 0.09 | | | | | | (0.13) | | |
Adjusted net (loss)/income per share(1)
|
| | | $ | (1.49) | | | | | $ | 2.61 | | | | | $ | 2.51 | | |
1 Year Cheesecake Factory Chart |
1 Month Cheesecake Factory Chart |
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