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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Chemours Company | NYSE:CC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.15 | 0.58% | 26.15 | 26.88 | 25.81 | 26.32 | 1,713,715 | 00:55:03 |
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
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Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
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| (1) Amount Previously Paid: | | | |||||
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Richard H. Brown
Chairman of the Board |
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Mark P. Vergnano
President & Chief Executive Officer |
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| ANNUAL MEETING OVERVIEW | | | | | 1 | | |
| PROPOSAL 1 — ELECTION OF DIRECTORS | | | | | 1 | | |
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| CORPORATE GOVERNANCE | | | | | 10 | | |
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| BOARD STRUCTURE AND COMMITTEE COMPOSITION | | | | | 16 | | |
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| DIRECTOR COMPENSATION | | | | | 19 | | |
| SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | | | | | 21 | | |
| EXECUTIVE COMPENSATION | | | | | 23 | | |
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| PROPOSAL 2 — ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION | | | | | 55 | | |
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| PROPOSAL 4 — SHAREHOLDER PROPOSAL | | | | | 58 | | |
| CERTAIN RELATIONSHIPS AND TRANSACTIONS | | | | | 59 | | |
| GENERAL INFORMATION ABOUT THE MEETING | | | | | 59 | | |
| OTHER INFORMATION | | | | | 64 | | |
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Meeting Information
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Summary of Matters to be Voted Upon
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Time and Date:
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Voting Matter
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Board Vote
Recommendation |
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See
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10:00 a.m.
(Eastern time) on Tuesday, April 28, 2020
Place:
Caesar Rodney
Ballroom at The Westin Hotel, 818 Shipyard Drive, Wilmington, DE 19801 |
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Management Proposals
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Shareholder Proposal
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| Proposal 4 — Board Advisory Position | | | | | |
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Core Skills & Qualifications
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Additional Experience
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| Leadership (Strategy & Execution) | | | Chemical Industry Experience | | | Marketing | | | Information Technology | |
| Financial Expertise | | | Risk Management | | | Business Development | | | Logistics & Supply Chain | |
| Global Business Strategy & Management | | | Global Business Operations | | | Mergers & Acquisitions | | | Legal Expertise | |
| Technological Innovation | | | Compensation & Succession | | | Capital Markets | | | Regulatory Experience | |
| Corporate Governance | | | Diversity | | | Investor Relations & Engagement | | | Cybersecurity | |
| Environment, Health, Safety & Sustainability | | | Other Board Experience | | | | | | | |
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Curtis V.
Anastasio |
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Bradley J.
Bell |
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Richard H.
Brown |
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Mary B.
Cranston |
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Curtis J.
Crawford |
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Dawn L.
Farrell |
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Erin N.
Kane |
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Sean D.
Keohane |
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Mark P.
Vergnano |
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Leadership (Strategy and Execution)
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| Chemical Industry Experience | | |
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| Financial Expertise | | |
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Global Business Strategy and Management
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| Global Business Operations | | |
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| Corporate Governance | | |
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| Other Board Experience | | |
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| Technological Innovation | | |
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| Compensation & Succession | | |
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| Risk Management | | |
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Environmental, Health, Safety and Sustainability
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| Additional Experience | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Marketing | | |
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| Business Development | | |
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| Mergers & Acquisitions | | |
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| Capital Markets | | | | | |
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Investor Relations & Engagement
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| Information Technology | | | | | | | | |
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| Logistics & Supply Chain | | |
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| Legal Expertise | | |
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| Regulatory Experience | | |
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| Cybersecurity | | | | | | | | | | | |
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| Diversity | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Gender | | | | | | | | | | | |
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| Ethnicity | | | | | | | | | | | | | | |
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Director Since: 2015
Committee Memberships: Audit, Nominating and Corporate Governance
Term of Office Expires: 2020
Age: 63
Business Experience:
•
President, Chief Executive Officer and Executive Director of NuStar GP Holdings, LLC (2006 to 2013)
•
President, Chief Executive Officer and Executive Director of NuStar Energy, L.P. (2001 to 2013)
Other Boards and Positions
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Chairman, GasLog Partners LP (2014 to present)
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Par Pacific Holdings, Inc. (2014 to present)
•
Federal Reserve Bank of Dallas (2014 through 2019)
Mr. Anastasio has significant leadership experience as both an executive officer and board member of public companies. Through his experience as a former chief executive officer, he is able to provide the Board with valuable insight on global business management and financial matters. Mr. Anastasio’s knowledge of financial matters is further enhanced by his role as audit committee chairman of Par Pacific Holdings, Inc. and as a Director and member of the Audit Committee of the Federal Reserve Bank of Dallas. He also has valuable experience in marketing, business development and logistics.
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Curtis V. Anastasio
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Director Since: 2015
Committee Memberships: Audit (Chair), Compensation and Leadership Development
Term of Office Expires: 2020
Age: 67
Business Experience:
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Executive Vice President and Chief Financial Officer, Nalco Holding Company (2003 to 2010)
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Senior Vice President and Chief Financial Officer of Rohm and Haas Company (1997 to 2003)
Other Boards and Positions
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Director, Hennessy Capital Acquisition Corporation IV (HCAC)
HCAC I (2014 to 2015) HCAC II (2015 to 2017) HCAC III (2017 to 2018) HCAC IV (2018 to present)
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Momentive Performance Materials Holdings Inc. (2014 to 2019)
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Compass Minerals International, Inc. (2003 to 2015)
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IDEX Corporation (2001 to 2015)
Through his over 35 years of executive experience in the technology, manufacturing and chemicals industries, Mr. Bell has developed financial expertise and experience in mergers and acquisitions, private equity and capital markets transactions. His experience includes over 12 years of experience as a chief financial officer of a publicly traded company, during which he obtained significant financial management and reporting expertise. Mr. Bell has over 30 years of experience as a director of multiple public companies, which allows him to bring the Board substantial knowledge of corporate governance, compensation design, shareholder relations, risk management and succession planning.
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Bradley J. Bell
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To view our Corporate Responsibility Commitment Report and learn more about our goals, go to:
https://www.chemours.com/our-company/corporate-responsibility/ |
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Audit Committee
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Compensation and Leadership
Development Committee |
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Nominating and
Corporate Governance Committee |
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Curtis V. Anastasio | | |
X
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X
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Bradley J. Bell | | |
C
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X
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Mary B. Cranston | | |
X
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C
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Dr. Curtis J. Crawford
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X
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C
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Dawn L. Farrell | | | | | |
X
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X
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Erin N. Kane | | |
X
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X
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Sean D. Keohane | | | | | |
X
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X
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2019 Meetings
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4
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7
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5
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X = Member
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C = Chair
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Fiscal Year 2019 Director Retainers
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Annual Retainer(1) | | | | $ | 100,000 | | |
Annual Equity Award(2) | | | | $ | 145,000 | | |
Non-Executive Chairman Retainer(1) | | | | $ | 110,000 | | |
Audit Committee Chair Retainer(1) | | | | $ | 20,000 | | |
Compensation and Leadership Development Committee Chair Retainer(1) | | | | $ | 15,000 | | |
Nominating and Corporate Governance Committee Chair Retainer(1) | | | | $ | 15,000 | | |
Director(1)
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Fees Earned or
Paid in Cash ($)(2) |
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Equity Awards
($)(3) |
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Total
($) |
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Curtis V. Anastasio | | | | | 100,000 | | | | | | 145,000 | | | | | | 245,000 | | |
Bradley J. Bell | | | | | 120,000 | | | | | | 145,000 | | | | | | 265,000 | | |
Richard H. Brown | | | | | 210,000 | | | | | | 145,000 | | | | | | 355,000 | | |
Mary B. Cranston | | | | | 115,000 | | | | | | 145,000 | | | | | | 260,000 | | |
Curtis J. Crawford | | | | | 115,000 | | | | | | 145,000 | | | | | | 260,000 | | |
Dawn L. Farrell | | | | | 100,000 | | | | | | 145,000 | | | | | | 245,000 | | |
Erin N. Kane(4) | | | | | 50,000 | | | | | | 145,000 | | | | | | 195,000 | | |
Sean D. Keohane | | | | | 100,000 | | | | | | 145,000 | | | | | | 245,000 | | |
Name
|
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Aggregate Equity Awards
Outstanding as of December 31, 2019 |
| |||
Curtis V. Anastasio | | | | | 31,291 | | |
Bradley J. Bell | | | | | 34,152 | | |
Richard H. Brown | | | | | 68,586 | | |
Mary B. Cranston | | | | | 34,152 | | |
Curtis J. Crawford | | | | | 68,586 | | |
Dawn L. Farrell | | | | | 34,152 | | |
Erin N. Kane | | | | | 7,825 | | |
Sean D. Keohane | | | | | 7,193 | | |
Name of beneficial owner
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Direct(1)
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Indirect(2)
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Right to
acquire(3) |
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Total
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Percent of
class |
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Mark P. Vergnano | | | | | 242,353 | | | | | | 512,076 | | | | | | 1,495,209 | | | | | | 2,249,638 | | | | | | 1.37% | | |
Mark E. Newman | | | | | 130,844 | | | | | | 2,480 | | | | | | 490,237 | | | | | | 623,561 | | | | | | * | | |
Sameer Ralhan | | | | | 253,137 | | | | | | 0 | | | | | | 187,093 | | | | | | 440,230 | | | | | | * | | |
E. Bryan Snell | | | | | 130,891 | | | | | | 0 | | | | | | 220,757 | | | | | | 351,648 | | | | | | * | | |
Edwin Sparks | | | | | 8,290 | | | | | | 0 | | | | | | 15,254 | | | | | | 23,544 | | | | | | * | | |
David C. Shelton | | | | | 109,712 | | | | | | 492 | | | | | | 142,329 | | | | | | 252,533 | | | | | | * | | |
Curtis V. Anastasio | | | | | 2,692 | | | | | | 3,500 | | | | | | 31,291 | | | | | | 37,483 | | | | | | * | | |
Bradley J. Bell | | | | | 0 | | | | | | 20,400 | | | | | | 38,809 | | | | | | 59,209 | | | | | | * | | |
Richard H. Brown | | | | | 20,000 | | | | | | 0 | | | | | | 100,397 | | | | | | 120,397 | | | | | | * | | |
Mary B. Cranston | | | | | 2,834 | | | | | | 0 | | | | | | 34,152 | | | | | | 36,986 | | | | | | * | | |
Curtis J. Crawford | | | | | 30 | | | | | | 47 | | | | | | 82,898 | | | | | | 82,975 | | | | | | * | | |
Dawn L. Farrell | | | | | 0 | | | | | | 0 | | | | | | 34,152 | | | | | | 34,152 | | | | | | * | | |
Erin N. Kane | | | | | 0 | | | | | | 0 | | | | | | 7,825 | | | | | | 7,825 | | | | | | * | | |
Sean D. Keohane | | | | | 0 | | | | | | 0 | | | | | | 7,193 | | | | | | 7,193 | | | | | | * | | |
Directors, nominees and executive officers as a group (16 persons)
|
| | | | 958,176 | | | | | | 538,995 | | | | | | 2,974,692 | | | | | | 4,471,863 | | | | | | 2.72% | | |
Name and Address of Beneficial Owner
|
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Number of Shares
Beneficially Owned |
| |
Percent of Class(4)
|
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FMR LLC(1),
245 Summer Street, Boston, MA 02210 |
| | | | 23,771,750 | | | | | | 14.53% | | |
The Vanguard Group(2),
100 Vanguard Blvd., Malvern, PA 19355 |
| | | | 15,175,950 | | | | | | 9.28% | | |
BlackRock, Inc(3),
55 East 52nd Street, New York, NY 10055 |
| | | | 14,471,999 | | | | | | 8.85% | | |
Name
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Position
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Mark Vergnano | | | President and Chief Executive Officer | |
Mark Newman(1) | | | Senior Vice President, Chief Operating Officer | |
Sameer Ralhan | | | Senior Vice President, Chief Financial Officer and Treasurer | |
Bryan Snell | | | President, Titanium Technologies | |
Edwin Sparks | | | President, Chemical Solutions and Fluoroproducts | |
David Shelton | | | Senior Vice President, General Counsel and Corporate Secretary | |
Paul Kirsch(2) | | | Former President, Fluoroproducts | |
What Chemours Does
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What Chemours Doesn’t Do
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Pay-for-performance
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Provide income tax gross-ups, other than for international assignment and / or relocation
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Deliver total direct compensation predominantly through variable pay
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Re-price underwater stock options
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Set challenging short- and long-term incentive award goals
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Allow hedging, pledging, short sales, derivative transactions, margin accounts or short-term trading
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Target pay and benefits to market competitive levels
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Have a liberal share recycling provision in our equity plan
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Maintain robust stock ownership requirements
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Maintain a clawback policy for incentive-based compensation
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Annually review the constituents of Compensation and Performance peer groups and make adjustments as appropriate
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Undertake an annual review of compensation risk
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Offer limited perquisites
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Regularly review compensation, especially incentive compensation to ensure continued alignment with Chemours’ strategy
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Element
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Purpose and Key Features
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Base Salary | | |
➢
Provides a stable source of income and is a standard element in executive compensation packages
➢
Compensates for expected day-to-day contribution
➢
Targeted to be market competitive in order to attract and retain qualified executives
➢
Delivered in cash
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Annual Incentive Plan (“AIP”) | | |
➢
Short-term at-risk compensation
➢
Encourages focus on the achievement of annual business goals
➢
Target incentive opportunity is set as a percentage of base salary and awards are earned only after a threshold level of performance is achieved
➢
Maximum payout is capped
➢
Delivered in cash
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Long-Term Incentive Program (“LTIP”) | | |
➢
Long-term at-risk compensation
➢
Aligns executives with the long-term interests of shareholders
➢
Provides a total compensation opportunity with payouts varying based on business and stock price performance
➢
Maximum payout is capped
➢
Delivered in stock
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| Compensation and Leadership Development Committee | | |
➢
Establish executive compensation philosophy
➢
Approve incentive compensation programs and determine performance expectations for short-term and long-term incentive programs
➢
Approve all compensation actions for the NEOs, other than the CEO, including base salary, target and actual short-term incentive plan payouts and long-term incentive targets, grants and earned awards
➢
Recommend to the independent directors of the Board, compensation actions for the CEO, including base salary, target and actual short-term incentive plan payouts and long-term incentive targets, grants and earned awards
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| All Independent Board Members | | |
➢
Assess performance of the CEO
➢
Approve all compensation actions for the CEO, including base salary, target and actual short-term incentive plan payouts and long-term incentive targets, grants and earned awards
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| Chief Executive Officer | | |
➢
Provide compensation recommendations for the NEOs (other than the CEO) to the Compensation and Leadership Development Committee, which considers these recommendations as part of its evaluation. However, review, analysis, and final approval of compensation actions are made solely by the Compensation and Leadership Development Committee
➢
Recommendations are based on the CEO’s personal review of each NEO’s performance, job responsibilities, and importance to the Company’s overall business strategy, as well as the Company’s compensation philosophy
➢
In preparing compensation recommendations for the NEOs, the CEO and the SVP, People and Health Services compare each key element of compensation provided to the NEOs to market data and consider the total compensation package
➢
In consultation with the Chief Financial Officer, recommends incentive measures and performance expectations
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| Independent Consultant to the Compensation and Leadership Development Committee | | |
➢
Provides independent advice, research, and analytical services on a variety of subjects, including compensation of executive officers and executive compensation trends
➢
Participates in meetings as requested and communicates with the Chair of the Compensation and Leadership Development Committee between meetings
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Evaluates executive compensation policies and guidelines and provides analysis of policies and guidelines compared to best practices in the industry
➢
Engaged by, and reports directly to the Compensation and Leadership Development Committee
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2018
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2019
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|
Base Salary | | | $1,050,000 | | | $1,050,000 | |
Target AIP Opportunity | | | $1,365,000 (130% of salary) | | | $1,365,000 (130% of salary) | |
Target LTI Opportunity (Grant Value) | | | $5,500,000 | | | $5,600,000 | |
Target Total Direct Compensation | | | $7,915,000 | | | $8,015,000 | |
NEO
|
| |
Base Salary ($)
(as of December 31, 2018) |
| |
Base Salary ($)
(as of December 31, 2019) |
| ||||||
Mark Newman | | | | $ | 591,220 | | | | | $ | 700,000 | | |
Sameer Ralhan | | | | | | | | | | $ | 575,000 | | |
Bryan Snell | | | | $ | 550,000 | | | | | $ | 550,000 | | |
David Shelton | | | | $ | 475,000 | | | | | $ | 500,000 | | |
Edwin Sparks | | | | | | | | | | $ | 475,000 | | |
Paul Kirsch | | | | $ | 550,000 | | | | | | N/A | | |
NEO
|
| |
2018 Annual Incentive
Target (as % of Base Salary) |
| |
2019 Annual Incentive
Target (as % of Base Salary) |
| ||||||
Mark Newman | | | | | 80% | | | | | | 90% | | |
Sameer Ralhan | | | | | | | | | | | 80% | | |
Bryan Snell | | | | | 75% | | | | | | 75% | | |
David Shelton | | | | | 70% | | | | | | 70% | | |
Edwin Sparks | | | | | | | | | | | 75% | | |
Paul Kirsch | | | | | 75% | | | | | | 75% | | |
| | |
Measure
|
| |
Weighting
|
|
Corporate Performance Factor
|
| |
Corporate Adjusted EBITDA
|
| |
50%
|
|
| Corporate Free Cash Flow | | | 50% | |
| | |
Measure
|
| |
Weighting
|
|
Fluoroproducts and Chemical Solutions Performance Factor
|
| |
Corporate Adjusted EBITDA
|
| |
12.50% (50% of the 25%)
|
|
| Corporate Free Cash Flow | | | 12.50% (50% of the 25%) | | ||
| Business Unit Free Cash Flow | | | 56.25% (75% of the 75%) | | ||
| Business Unit Revenue | | | 18.75% (25% of the 75%) | |
| | |
Measure
|
| |
Weighting
|
|
Titanium Technologies
Performance Factor |
| |
Corporate Adjusted EBITDA
|
| |
12.50% (50% of the 25%)
|
|
| Corporate Free Cash Flow | | | 12.50% (50% of the 25%) | | ||
| Business Unit Free Cash Flow | | | 50.00% (67% of the 75%) | | ||
| Business Unit TVS Strategic Objectives | | | 25.00% (33% of the 75%) | |
Measure
|
| |
Threshold(1)
|
| |
Target
|
| |
Maximum(2)
|
| |
Actual
|
| |
Weighted
Funding Result |
| |||||||||||||||
Corporate Adj. EBITDA | | | | $ | 1,350 | | | | | $ | 1,490 | | | | | $ | 1,700 | | | | | $ | 1,020 | | | | | | 0% | | |
Corporate Free Cash Flow | | | | $ | 448 | | | | | $ | 575 | | | | | $ | 766 | | | | | $ | 169 | | | | | | 0% | | |
|
Measure
|
| |
Threshold(1)
|
| |
Target
|
| |
Maximum(2)
|
| |
Actual
|
| |
Weighted
Funding Result |
| |||||||||||||||
Corporate Adj. EBITDA | | | | $ | 1,350 | | | | | $ | 1,490 | | | | | $ | 1,700 | | | | | $ | 1,020 | | | | | | 0% | | |
Corporate Free Cash Flow | | | | $ | 448 | | | | | $ | 575 | | | | | $ | 766 | | | | | $ | 169 | | | | | | 0% | | |
Business Unit Free Cash Flow | | | | $ | 512 | | | | | $ | 581 | | | | | $ | 685 | | | | | $ | 445 | | | | | | 0% | | |
TVS Strategic Objectives | | |
Strategic TiPureTM Value Stabilization objectives
|
| | | | 25% | | |
Measure
|
| |
Threshold(1)
|
| |
Target
|
| |
Maximum(2)
|
| |
Actual
|
| |
Weighted
Funding Result |
| |||||||||||||||
Corporate Adj. EBITDA | | | | $ | 1,350 | | | | | $ | 1,490 | | | | | $ | 1,700 | | | | | $ | 1,020 | | | | | | 0% | | |
Corporate Free Cash Flow | | | | $ | 448 | | | | | $ | 575 | | | | | $ | 766 | | | | | $ | 169 | | | | | | 0% | | |
Business Unit Free Cash Flow | | | | $ | 506 | | | | | $ | 584 | | | | | $ | 705 | | | | | $ | 425 | | | | | | 0% | | |
Business Unit Revenue | | | | $ | 2,919 | | | | | $ | 3,019 | | | | | $ | 3,173 | | | | | $ | 2,648 | | | | | | 0% | | |
Measure
|
| |
Threshold(1)
|
| |
Target
|
| |
Maximum(2)
|
| |
Actual
|
| |
Weighted
Funding Result |
| |||||||||||||||
Corporate Adj. EBITDA | | | | $ | 1,350 | | | | | $ | 1,490 | | | | | $ | 1,700 | | | | | $ | 1,020 | | | | | | 0% | | |
Corporate Free Cash Flow | | | | $ | 448 | | | | | $ | 575 | | | | | $ | 766 | | | | | $ | 169 | | | | | | 0% | | |
Business Unit Free Cash Flow | | | | $ | 34 | | | | | $ | 42 | | | | | $ | 54 | | | | | $ | 49 | | | | | | 90% | | |
Business Unit Revenue | | | | $ | 550 | | | | | $ | 570 | | | | | $ | 620 | | | | | $ | 533 | | | | | | 0% | | |
NEO
|
| |
Annual Incentive
Target (as % of Base Salary) |
| |
Annual Incentive
Target ($) |
| |
Annual Incentive
Actual ($) |
| |||||||||
Mark Vergnano | | | | | 130% | | | | | $ | 1,365,000 | | | | | $ | 0 | | |
Mark Newman | | | | | 90% | | | | | $ | 564,179(1) | | | | | $ | 0 | | |
Sameer Ralhan | | | | | 80% | | | | | $ | 351,014(1) | | | | | $ | 0 | | |
Bryan Snell | | | | | 75% | | | | | $ | 412,500 | | | | | $ | 103,125 | | |
David Shelton | | | | | 70% | | | | | $ | 350,000 | | | | | $ | 0 | | |
Edwin Sparks (2) | | | | | 75% | | | | | $ | 268,346(3) | | | | | $ | 241,511 | | |
Paul Kirsch | | | | | 75% | | | | | $ | 412,500 | | | | | $ | 0(4) | | |
|
NEO
|
| |
2018 Long Term
Incentive Target |
| |
2019 Long Term
Incentive Target |
| ||||||
Mark Newman | | | | $ | 1,200,000 | | | | | $ | 1,500,000 | | |
Sameer Ralhan | | | | | | | | | | $ | 1,000,000 | | |
Bryan Snell | | | | $ | 900,000 | | | | | $ | 900,000 | | |
David Shelton | | | | $ | 850,000 | | | | | $ | 950,000 | | |
Edwin Sparks | | | | | | | | | | $ | 800,000 | | |
Paul Kirsch | | | | $ | 900,000 | | | | | $ | 1,000,000 | | |
|
Adjusted Net Income
|
| |
Free Cash Flow Conversion
|
| ||||||||||||
Period
|
| |
Weighting
|
| |
Period
|
| |
Weighting
|
| ||||||
Cumulative FY2019 – FY2021
|
| | | | 50% | | | |
Average FY2019 – FY2021
|
| | | | 50% | | |
Relative TSR
|
| |
<25 percentile
|
| |
>=P25 to <P40
|
| |
>=P40 to <P60
|
| |
>=P60 to <=P75
|
| |
>P75
|
| ||||||||||||
Applied Modifier | | | | | 0.5 | | | | | | 0.75 | | | |
1.00 (No Adjustment)
|
| | | | 1.25 | | | | | | 1.5 | | |
NEO
|
| |
2019 Target
LTI Award Value |
| |
Share Equivalent
Value of PSUs on grant date |
| |
Target Number
of PSU Awards (1) |
| |
Grant Date
Fair Value of Stock Options |
| |
Number of
Stock Options Granted (2) |
| |||||||||||||||
Mark Vergnano | | | | $ | 5,599,971 | | | | | $ | 3,359,979 | | | | | | 88,374 | | | | | $ | 2,239,992 | | | | | | 156,097 | | |
Mark Newman
March 1 |
| | | $ | 1,299,967 | | | | | $ | 779,980 | | | | | | 20,515 | | | | | $ | 519,987 | | | | | | 36,236 | | |
June 3(3) | | | | $ | 499,991 | | | | | $ | 299,996 | | | | | | 13,661 | | | | | $ | 199,995 | | | | | | 29,717 | | |
Sameer Ralhan March 1 | | | | $ | 799,955 | | | | | $ | 479,964 | | | | | | 12,624 | | | | | $ | 319,991 | | | | | | 22,299 | | |
June 3(3) | | | | $ | 299,980 | | | | | $ | 179,984 | | | | | | 8,196 | | | | | $ | 119,996 | | | | | | 17,830 | | |
Bryan Snell | | | | $ | 899,997 | | | | | $ | 539,998 | | | | | | 14,203 | | | | | $ | 359,998 | | | | | | 25,087 | | |
David Shelton | | | | $ | 949,984 | | | | | $ | 569,996 | | | | | | 14,992 | | | | | $ | 379,988 | | | | | | 26,480 | | |
Edwin Sparks
March 1 |
| | | $ | 499,974 | | | | | $ | 299,978 | | | | | | 7,890 | | | | | $ | 199,996 | | | | | | 13,937 | | |
June 3(3) | | | | $ | 299,980 | | | | | $ | 179,984 | | | | | | 8,196 | | | | | $ | 119,996 | | | | | | 17,830 | | |
Paul Kirsch (4) | | | | $ | 999,986 | | | | | $ | 599,994 | | | | | | 15,781 | | | | | $ | 399,992 | | | | | | 27,874 | | |
Measurement Period
|
| |
Weighting
|
| |
Threshold
|
| |
Target
|
| |
Maximum
|
| |
Result*
|
| |
Payout %
(weighted) |
| ||||||||||||||||||
FY2017 | | | | | 12.5% | | | | | $ | 878 | | | | | $ | 975 | | | | | $ | 1,121 | | | | | $ | 1,422 | | | | | | 25.0% | | |
FY2018 | | | | | 12.5% | | | | | $ | 991 | | | | | $ | 1,166 | | | | | $ | 1,341 | | | | | $ | 1,740 | | | | | | 25.0% | | |
FY2019 | | | | | 12.5% | | | | | $ | 1,003 | | | | | $ | 1,180 | | | | | $ | 1,357 | | | | | $ | 1,020 | | | | | | 6.9% | | |
FY2017 – FY2019 Cumulative
|
| | | | 12.5% | | | | | $ | 2,823 | | | | | $ | 3,321 | | | | | $ | 3,819 | | | | | $ | 4,182 | | | | | | 25.0% | | |
|
Measurement Period
|
| |
Weighting
|
| |
Threshold
|
| |
Target
|
| |
Maximum
|
| |
Result*
|
| |
Payout %
(weighted) |
| ||||||||||||||||||
FY2017 | | | | | 12.5% | | | | | | 18.7% | | | | | | 22.0% | | | | | | 25.3% | | | | | | 36.4% | | | | | | 25.0% | | |
FY2018 | | | | | 12.5% | | | | | | 21.8% | | | | | | 25.6% | | | | | | 29.4% | | | | | | 38.8% | | | | | | 25.0% | | |
FY2019 | | | | | 12.5% | | | | | | 20.9% | | | | | | 24.6% | | | | | | 28.3% | | | | | | 17.3% | | | | | | 0.0% | | |
FY2017 – FY2019 Average | | | | | 12.5% | | | | | | 20.5% | | | | | | 24.1% | | | | | | 27.7% | | | | | | 30.8% | | | | | | 25.0% | | |
|
Modifier
|
| |
Min
|
| |
Target
|
| |
Max
|
| |
Result
|
| |
Modifier
|
| ||||||||||||
Relative TSR to Peer Group
|
| | | | <P25 | | | | | | P25 – P75 | | | | | | >P75 | | | |
6.6th Percentile
|
| | |
|
0.75
|
| |
| | | 0.75 | | | | | | 1.00 | | | | | | 1.25 | | |
| | | | | | | | |
| Air Products & Chemicals, Inc. | | | Eastman Chemical Company | | | The Sherwin-Williams Company | |
| Albemarle Corporation | | | Huntsman Corporation | | | The Mosaic Company | |
| Ashland Inc. | | | Kronos Worldwide, Inc. | | | Tronox, Limited | |
| Celanese Corporation | | | PolyOne Corporation | | | W R Grace and Company | |
| Chemtura Corporation | | |
PPG Industries, Inc.
RPM International Inc. |
| | Westlake Chemical Corporation | |
NEO
|
| |
Target # of PSUs
Granted |
| |
Payout %
|
| |
# of PSUs
Earned |
| ||||||
Mark Vergnano
|
| | | | 95,047 | | | |
118%
|
| | | | 112,155 | | |
Mark Newman
|
| | | | 20,738 | | | |
118%
|
| | | | 24,471 | | |
Sameer Ralhan
|
| | | | 4,321 | | | |
118%
|
| | | | 5,099 | | |
Bryan Snell | | | | | 15,553 | | | |
118%
|
| | | | 18,353 | | |
David Shelton | | | | | 12,961 | | | |
118%
|
| | | | 15,294 | | |
Edwin Sparks | | | | | — | | | |
N/A
|
| | | | — | | |
Paul Kirsch | | | | | 15,553 | | | |
Forfeited
|
| | | | — | | |
|
Multiple of Base Salary
|
| |
2019 Target
|
| |||
CEO | | | | | 5.0x | | |
Other NEOs | | | | | 3.0x | | |
Element
|
| |
Median Employee
|
| |
CEO
|
| ||||||
Salary (includes Overtime)(1) | | | | $ | 85,830 | | | | | $ | 1,029,808 | | |
Stock Awards | | | | $ | 0 | | | | | $ | 4,273,767 | | |
Option Awards | | | | $ | 0 | | | | | $ | 2,239,992 | | |
Non-Equity Incentive Plan Compensation/Bonus(2) | | | | $ | 1,983 | | | | | $ | 0 | | |
Change in Pension Value | | | | $ | 0 | | | | | $ | 0 | | |
All Other Compensation(3) | | | | $ | 7,441 | | | | | $ | 152,077 | | |
Summary Compensation Table Totals | | | | $ | 95,254 | | | | | $ | 7,695,644 | | |
CEO Pay Ratio | | |
81:1
|
|
Name and
Principal Position |
| |
Year
|
| |
Salary
($) |
| |
Bonus
($)(1) |
| |
Stock
Awards ($)(2)(3) |
| |
Option
Awards ($)(4) |
| |
Non-Equity
Incentive Plan Compensation ($)(5) |
| |
Change in
Pension Value and Nonqualified and Deferred Compensation Earnings ($) |
| |
All Other
Compensation ($)(6) |
| |
Total ($)
|
| |||||||||||||||||||||||||||
Mark Vergnano
President and Chief Executive Officer |
| | | | 2019 | | | | | | 1,029,808 | | | | | | | | | | | | 4,273,767 | | | | | | 2,239,992 | | | | | | | | | | | | | | | | | | 152,077 | | | | | | 7,695,644 | | |
| | | 2018 | | | | | | 1,041,667 | | | | | | | | | | | | 3,559,120 | | | | | | 2,199,980 | | | | | | 1,000,545 | | | | | | | | | | | | 275,417 | | | | | | 8,076,729 | | | ||
| | | 2017 | | | | | | 983,333 | | | | | | | | | | | | 3,787,623 | | | | | | 2,199,989 | | | | | | 2,600,000 | | | | | | 141,163 | | | | | | 232,063 | | | | | | 9,944,171 | | | ||
Mark Newman,
Senior Vice President and Chief Operating Officer |
| | | | 2019 | | | | | | 649,290 | | | | | | | | | | | | 1,296,199 | | | | | | 719,982 | | | | | | | | | | | | | | | | | | 85,347 | | | | | | 2,750,819 | | |
| | | 2018 | | | | | | 591,220 | | | | | | | | | | | | 776,569 | | | | | | 479,986 | | | | | | 346,691 | | | | | | | | | | | | 100,591 | | | | | | 2,295,057 | | | ||
| | | 2017 | | | | | | 588,350 | | | | | | | | | | | | 826,409 | | | | | | 479,996 | | | | | | 945,952 | | | | | | | | | | | | 102,879 | | | | | | 2,943,586 | | | ||
Sameer Ralhan
Senior Vice President, Chief Financial Officer & Treasurer |
| | | | 2019 | | | | | | 474,588 | | | | | | | | | | | | 792,940 | | | | | | 439,987 | | | | | | | | | | | | | | | | | | 30,847 | | | | | | 1,738,361 | | |
| | | 2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 2017 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
Bryan Snell
President, Titanium Technologies |
| | | | 2019 | | | | | | 539,423 | | | | | | | | | | | | 686,857 | | | | | | 359,998 | | | | | | 103,125 | | | | | | | | | | | | 60,082 | | | | | | 1,749,486 | | |
| | | 2018 | | | | | | 541,667 | | | | | | | | | | | | 582,440 | | | | | | 359,995 | | | | | | 75,488 | | | | | | | | | | | | 115,694 | | | | | | 1,675,282 | | | ||
| | | 2017 | | | | | | 483,333 | | | | | | | | | | | | 619,787 | | | | | | 359,989 | | | | | | 750,000 | | | | | | 25,898 | | | | | | 80,333 | | | | | | 2,319,340 | | | ||
David Shelton
Senior Vice President, General Counsel and Corporate Secretary |
| | | | 2019 | | | | | | 493,910 | | | | | | | | | | | | 725,013 | | | | | | 379,988 | | | | | | | | | | | | | | | | | | 83,737 | | | | | | 1,682,648 | | |
| | | 2018 | | | | | | 475,000 | | | | | | | | | | | | 550,041 | | | | | | 340,000 | | | | | | 243,723 | | | | | | | | | | | | 145,900 | | | | | | 1,754,664 | | | ||
| | | 2017 | | | | | | 462,500 | | | | | | | | | | | | 516,496 | | | | | | 299,986 | | | | | | 665,000 | | | | | | 1,247 | | | | | | 111,395 | | | | | | 2,056,624 | | | ||
Edwin Sparks
President, Fluoroproducts and Chemical Solutions |
| | | | 2019 | | | | | | 396,300 | | | | | | | | | | | | 564,003 | | | | | | 319,992 | | | | | | 241,511 | | | | | | | | | | | | 57,173 | | | | | | 1,578,979 | | |
| | | 2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 2017 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
Paul Kirsch
Former President, Fluoroproducts |
| | | | 2019 | | | | | | 484,776 | | | | | | 343,750 | | | | | | 763,169 | | | | | | 399,992 | | | | | | | | | | | | | | | | | | 702,425 | | | | | | 2,694,112 | | |
| | | 2018 | | | | | | 550,000 | | | | | | | | | | | | 582,440 | | | | | | 359,995 | | | | | | 592,350 | | | | | | | | | | | | 26,000 | | | | | | 2,110,785 | | | ||
| | | 2017 | | | | | | 550,000 | | | | | | | | | | | | 619,787 | | | | | | 359,989 | | | | | | 825,000 | | | | | | | | | | | | 345,674 | | | | | | 2,700,450 | | |
Name
|
| |
Company Contributions
to Qualified Defined Contribution Plan ($) |
| |
Company Contribution to
Nonqualified Defined Contribution Plan ($) |
| |
Financial Planning/
Income Tax Preparation ($) |
| |
Separation
Agreements ($) |
| ||||||||||||
Mark Vergnano | | | | | 19,600 | | | | | | 117,477 | | | | | | 15,000 | | | | | | | | |
Mark Newman | | | | | 27,388 | | | | | | 42,959 | | | | | | 15,000 | | | | | | | | |
Sameer Ralhan | | | | | 7,336 | | | | | | 19,761 | | | | | | 3,750 | | | | | | | | |
Bryan Snell | | | | | 24,283 | | | | | | 20,799 | | | | | | 15,000 | | | | | | | | |
David Shelton | | | | | 30,800 | | | | | | 37,937 | | | | | | 15,000 | | | | | | | | |
Edwin Sparks | | | | | 19,392 | | | | | | 30,044 | | | | | | 7,737 | | | | | | | | |
Paul Kirsch | | | | | 27,800 | | | | | | | | | | | | 7,652 | | | | | | 666,973(1) | | |
| | | | | | | | | | | | | | | | | |
Estimated Possible Pay-outs Under
Nonequity Incentive Plan Awards(1) |
| |
Estimated Future Pay-outs Under
Equity Incentive Plan Awards(2) |
| |
All other
Option Awards; Number of Securities Underlying Options (#) |
| |
Exercise
or Base Price of Option Awards ($)(3) |
| |
Grant Date
Fair Value of Stock and Option Awards ($) |
| |||||||||||||||||||||||||||||||||||||||
Name
|
| |
Grant
Date |
| |
Approval
Date |
| |
Description
|
| |
Threshold
($) |
| |
Target
($) |
| |
Maximum
($) |
| |
Threshold
(#) |
| |
Target
(#) |
| |
Maximum
(#) |
| ||||||||||||||||||||||||||||||||||||||||||
Mark Vergnano
|
| | | | | | | | | | | | | |
2019 AIP
|
| | | | 682,500 | | | | | | 1,365,000 | | | | | | 2,730,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
Stock Options
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 156,097 | | | | | | 38.02 | | | | | | 2,239,992 | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
PSU
|
| | | | | | | | | | | | | | | | | | | | | | 44,187 | | | | | | 88,374 | | | | | | 220,935 | | | | | | | | | | | | | | | | | | 4,273,767 | | |
Mark Newman | | | | | | | | | | | | | | |
2019 AIP
|
| | | | 282,090 | | | | | | 564,179 | | | | | | 1,128,358 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
Stock Options
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 36,236 | | | | | | 38.02 | | | | | | 519,987 | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
PSU
|
| | | | | | | | | | | | | | | | | | | | | | 10,258 | | | | | | 20,515 | | | | | | 51,288 | | | | | | | | | | | | | | | | | | 992,105 | | |
| | | | | 6/3/19 | | | | | | 6/3/19 | | | |
Stock Options
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 29,717 | | | | | | 21.96 | | | | | | 199,995 | | |
| | | | | 6/3/19 | | | | | | 6/3/19 | | | |
PSU
|
| | | | | | | | | | | | | | | | | | | | | | 6,831 | | | | | | 13,661 | | | | | | 34,153 | | | | | | | | | | | | | | | | | | 304,094 | | |
Sameer Ralhan
|
| | | | | | | | | | | | | |
2019 AIP
|
| | | | 175,507 | | | | | | 351,014 | | | | | | 702,028 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
Stock Options
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 22,299 | | | | | | 38.02 | | | | | | 319,991 | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
PSU
|
| | | | | | | | | | | | | | | | | | | | | | 6,312 | | | | | | 12,624 | | | | | | 31,560 | | | | | | | | | | | | | | | | | | 610,497 | | |
| | | | | 6/3/19 | | | | | | 6/3/19 | | | |
Stock Options
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 17,830 | | | | | | 21.96 | | | | | | 119,996 | | |
| | | | | 6/3/19 | | | | | | 6/3/19 | | | |
PSU
|
| | | | | | | | | | | | | | | | | | | | | | 4,098 | | | | | | 8,196 | | | | | | 20,490 | | | | | | | | | | | | | | | | | | 182,443 | | |
Bryan Snell | | | | | | | | | | | | | | |
2019 AIP
|
| | | | 206,250 | | | | | | 412,500 | | | | | | 825,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
Stock Options
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 25,087 | | | | | | 38.02 | | | | | | 359,998 | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
PSU
|
| | | | | | | | | | | | | | | | | | | | | | 7,102 | | | | | | 14,203 | | | | | | 35,508 | | | | | | | | | | | | | | | | | | 686,857 | | |
David Shelton | | | | | | | | | | | | | | |
2019 AIP
|
| | | | 175,000 | | | | | | 350,000 | | | | | | 700,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
Stock Options
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 26,480 | | | | | | 38.02 | | | | | | 379,988 | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
PSU
|
| | | | | | | | | | | | | | | | | | | | | | 7,496 | | | | | | 14,992 | | | | | | 37,480 | | | | | | | | | | | | | | | | | | 725,013 | | |
Edwin Sparks | | | | | | | | | | | | | | |
2019 AIP
|
| | | | 134,173 | | | | | | 268,346 | | | | | | 536,692 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
Stock Options
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 13,937 | | | | | | 38.02 | | | | | | 199,996 | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
PSU
|
| | | | | | | | | | | | | | | | | | | | | | 3,945 | | | | | | 7,890 | | | | | | 19,725 | | | | | | | | | | | | | | | | | | 381,560 | | |
| | | | | 6/3/19 | | | | | | 6/3/19 | | | |
Stock Options
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 17,830 | | | | | | 21.96 | | | | | | 119,996 | | |
| | | | | 6/3/19 | | | | | | 6/3/19 | | | |
PSU
|
| | | | | | | | | | | | | | | | | | | | | | 4,098 | | | | | | 8,196 | | | | | | 20,490 | | | | | | | | | | | | | | | | | | 182,443 | | |
Paul Kirsch (4) | | | | | | | | | | | | | | |
2019 AIP
|
| | | | 206,520 | | | | | | 412,500 | | | | | | 825,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
Stock Options
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 27,874 | | | | | | 38.02 | | | | | | 399,992 | | |
| | | | | 3/1/19 | | | | | | 2/13/19 | | | |
PSU
|
| | | | | | | | | | | | | | | | | | | | | | 7,891 | | | | | | 15,781 | | | | | | 39,453 | | | | | | | | | | | | | | | | | | 763,169 | | |
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | |
Number of Securities
Underlying Unexercised Options(1) |
| |
Shares or Units of
Stock that Have Not Vested(2) |
| |
Equity Incentive Plan
Awards: Unearned Shares, Units or Other Rights that Have Not Vested(3) |
| |||||||||||||||||||||||||||||||||||||||
Name
|
| |
Grant Date
|
| |
Exercisable
(#) |
| |
Unexercisable
(#) |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number
(#) |
| |
Market Value
($) |
| |
Number
(#) |
| |
Market or
Pay-out Value ($) |
| |||||||||||||||||||||||||||
Mark Vergnano
|
| | | | 3/1/2019 | | | | | | | | | | | | 156,097 | | | | | | 38.02 | | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | 220,935 | | | | | | 3,996,714 | | |
| | | | | 3/1/2018 | | | | | | 35,685 | | | | | | 71,370 | | | | | | 48.53 | | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | 136,000 | | | | | | 2,460,240 | | |
| | | | | 3/1/2017 | | | | | | 96,745 | | | | | | 48,373 | | | | | | 34.72 | | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 3/1/2016 | | | | | | 543,944 | | | | | | | | | | | | 5.40 | | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 7/6/2015 | | | | | | 331,231 | | | | | | | | | | | | 16.04 | | | | | | 7/5/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/4/2015 | | | | | | 198,121 | | | | | | | | | | | | 18.45 | | | | | | 2/3/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/5/2014 | | | | | | 153,392 | | | | | | | | | | | | 15.49 | | | | | | 2/4/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/6/2013 | | | | | | 220,759 | | | | | | | | | | | | 11.87 | | | | | | 2/5/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | |
Mark Newman
|
| | | | 6/3/2019 | | | | | | | | | | | | 29,717 | | | | | | 21.96 | | | | | | 6/3/2029 | | | | | | | | | | | | | | | | | | 34,152 | | | | | | 617,810 | | |
| | | | | 3/1/2019 | | | | | | | | | | | | 36,236 | | | | | | 38.02 | | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | 51,287 | | | | | | 927,782 | | |
| | | | | 3/1/2018 | | | | | | 7,786 | | | | | | 15,571 | | | | | | 48.53 | | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | 29,674 | | | | | | 536,803 | | |
| | | | | 3/1/2017 | | | | | | 21,108 | | | | | | 10,554 | | | | | | 34.72 | | | | | | 3/1/2027 | | | | | | 41,476 | | | | | | 750,301 | | | | | | | | | | | | | | |
| | | | | 3/1/2016 | | | | | | 166,089 | | | | | | | | | | | | 5.40 | | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 7/6/2015 | | | | | | 197,161 | | | | | | | | | | | | 16.04 | | | | | | 7/5/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/4/2015 | | | | | | 67,675 | | | | | | | | | | | | 18.45 | | | | | | 2/3/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | |
Sameer Ralhan
|
| | | | 6/3/2019 | | | | | | | | | | | | 17,830 | | | | | | 21.96 | | | | | | 6/3/2029 | | | | | | | | | | | | | | | | | | 20,490 | | | | | | 370,664 | | |
| | | | | 3/1/2019 | | | | | | | | | | | | 22,299 | | | | | | 38.02 | | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | 31,560 | | | | | | 570,920 | | |
| | | | | 3/1/2018 | | | | | | 1,622 | | | | | | 3,244 | | | | | | 48.53 | | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | 6,182 | | | | | | 111,832 | | |
| | | | | 3/1/2017 | | | | | | 4,397 | | | | | | 2,199 | | | | | | 34.72 | | | | | | 3/1/2027 | | | | | | 8,642 | | | | | | 156,334 | | | | | | | | | | | | | | |
| | | | | 4/26/2016 | | | | | | 80,000 | | | | | | | | | | | | 9.43 | | | | | | 4/26/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 3/1/2016 | | | | | | 55,363 | | | | | | | | | | | | 5.40 | | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/4/2015 | | | | | | 34,457 | | | | | | | | | | | | 18.45 | | | | | | 2/3/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | |
Bryan Snell | | | | | 3/1/2019 | | | | | | | | | | | | 25,087 | | | | | | 38.02 | | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | 35,507 | | | | | | 642,322 | | |
| | | | | 3/1/2018 | | | | | | 5,840 | | | | | | 11,678 | | | | | | 48.53 | | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | 22,256 | | | | | | 402,611 | | |
| | | | | 3/1/2017 | | | | | | 15,831 | | | | | | 7,915 | | | | | | 34.72 | | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 3/1/2016 | | | | | | 110,726 | | | | | | | | | | | | 5.40 | | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/4/2015 | | | | | | 37,902 | | | | | | | | | | | | 18.45 | | | | | | 2/3/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/5/2014 | | | | | | 28,341 | | | | | | | | | | | | 15.49 | | | | | | 2/4/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | |
David Shelton | | | | | 3/1/2019 | | | | | | | | | | | | 26,480 | | | | | | 38.02 | | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | 37,480 | | | | | | 678,013 | | |
| | | | | 3/1/2018 | | | | | | 5,515 | | | | | | 11,030 | | | | | | 48.53 | | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | 21,018 | | | | | | 380,216 | | |
| | | | | 3/1/2017 | | | | | | 13,192 | | | | | | 6,596 | | | | | | 34.72 | | | | | | 3/1/2027 | | | | | | 25,922 | | | | | | 468,929 | | | | | | | | | | | | | | |
| | | | | 3/1/2016 | | | | | | 83,044 | | | | | | | | | | | | 5.40 | | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 2/4/2015 | | | | | | 19,640 | | | | | | | | | | | | 18.45 | | | | | | 2/3/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | |
Edwin Sparks | | | | | 6/3/2019 | | | | | | | | | | | | 17,830 | | | | | | 21.96 | | | | | | 6/3/2029 | | | | | | | | | | | | | | | | | | 20,490 | | | | | | 370,664 | | |
| | | | | 3/1/2019 | | | | | | | | | | | | 13,937 | | | | | | 38.02 | | | | | | 3/1/2029 | | | | | | | | | | | | | | | | | | 19,725 | | | | | | 356,825 | | |
| | | | | 3/1/2018 | | | | | | 1,784 | | | | | | 3,568 | | | | | | 48.53 | | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | 6,800 | | | | | | 123,012 | | |
| | | | | 3/1/2017 | | | | | | 2,875 | | | | | | 1,437 | | | | | | 34.72 | | | | | | 3/1/2027 | | | | | | 679 | | | | | | 12,283 | | | | | | | | | | | | | | |
| | | | | 2/5/2014 | | | | | | 2,728 | | | | | | | | | | | | 15.49 | | | | | | 2/4/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | |
Paul Kirsch(4) | | | | | 3/1/2018 | | | | | | 5,840 | | | | | | | | | | | | 48.53 | | | | | | 1/29/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | 3/1/2017 | | | | | | 15,831 | | | | | | | | | | | | 34.72 | | | | | | 1/29/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | |
Grant Date
|
| |
Outstanding Vesting Dates
|
|
6/3/2019 | | | Vests on June 3, 2022 | |
3/1/2019 | | | Vests in equal installments on March 1, 2020, 2021 and 2022 | |
3/1/2018 | | | Vests in equal installments on March 1, 2020 and 2021 | |
3/1/2017 | | | Balance vests on March 1, 2020 | |
Grant Date
|
| |
Outstanding Vesting Dates
|
|
3/1/2017 | | | RSUs with vesting date of March 1, 2020 | |
3/1/2017 | | | PSUs where the performance period ended on December 31, 2019. If the NEO was not retirement eligible, the award remained unvested through the Determination Date of February 14, 2020. | |
Grant Date
|
| |
Outstanding Vesting Dates
|
|
3/1/2019 and 6/3/2019 | | | Performance period ending December 31, 2021. The number of PSUs reported is based on achievement of maximum performance. Cumulative performance to date, as of the last completed fiscal year, is below target. | |
3/1/2018 | | | Performance period ending December 31, 2020. The number of PSUs reported is based on achievement of maximum performance. Cumulative performance to date, as of the last completed fiscal year, is below target. | |
| | |
Option Awards(1)
|
| |
Stock Awards(2)
|
| ||||||||||||||||||
Name
|
| |
Number of Shares
Acquired on Exercise (#) |
| |
Value Realized on
Exercise ($) |
| |
Number of Shares
Acquired on Vesting (#) |
| |
Value Realized on
Vesting ($) |
| ||||||||||||
Mark Vergnano | | | | | | | | | | | | | | | | | 120,261 | | | | | | 2,175,519 | | |
Mark Newman | | | | | | | | | | | | | | | | | 195,932 | | | | | | 7,396,433 | | |
Sameer Ralhan | | | | | | | | | | | | | | | | | 168,583 | | | | | | 6,364,008 | | |
Bryan Snell | | | | | | | | | | | | | | | | | 19,679 | | | | | | 355,991 | | |
David Shelton | | | | | | | | | | | | | | | | | | | | | | | | | |
Edwin Sparks | | | | | | | | | | | | | | | | | 3,517 | | | | | | 133,725 | | |
Paul Kirsch | | | | | 27,538 | | | | | | 301,009 | | | | | | 101,845 | | | | | | 3,556,117 | | |
Name
|
| |
Executive
Contributions in Last Fiscal Year ($)(1) |
| |
Registrant
Contribution in Last Fiscal Year ($)(2) |
| |
Aggregate
Earning in Last Fiscal Year ($)(3) |
| |
Aggregate
Withdrawals / Distributions In Last Fiscal Year ($) |
| |
Aggregate
Balance at Last Fiscal Year-End ($)(4) |
| ||||||||||||
Mark Vergnano | | | | | | | | | | | | | | | | | | | | |
|
| | | | | | |
RSRP
|
| | | | 105,022 | | | | | | 117,477 | | | | | | 29,682 | | | |
|
| | | | 1,294,612 | | |
MDCP
|
| | | | | | | | | | | | | | | | | | | |
|
| | | | | | |
Mark Newman | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
RSRP
|
| | | | 42,959 | | | | | | 42,959 | | | | | | 60,068 | | | | | | | | | 427,803 | | |
MDCP
|
| | | | 190,559 | | | | | | | | | | | | 55,299 | | | | | | | | | 719,779 | | |
Sameer Ralhan | | | | | | | | | | | | | | | | | | | | |
|
| | | | | | |
RSRP
|
| | | | 19,761 | | | | | | 19,761 | | | | | | 54,007 | | | |
|
| | | | 257,589 | | |
MDCP
|
| | | | | | | | | | | | | | | | | | | |
|
| | | | | | |
Bryan Snell | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
RSRP
|
| | | | 20,094 | | | | | | 20,799 | | | | | | 56,540 | | | | | | | | | 376,856 | | |
MDCP
|
| | | | | | | | | | | | | | | | 7,750 | | | | | | | | | 313,468 | | |
David Shelton | | | | | | | | | | | | | | | | | | | | |
|
| | | | | | |
RSRP
|
| | | | 27,458 | | | | | | 37,937 | | | | | | 40,187 | | | |
|
| | | | 423,386 | | |
MDCP
|
| | | | 123,478 | | | | | | | | | | | | 10,938 | | | |
|
| | | | 223,102 | | |
Edwin Sparks | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
RSRP
|
| | | | 22,669 | | | | | | 30,044 | | | | | | 11,253 | | | | | | | | | 132,695 | | |
MDCP
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Paul Kirsch | | | | | | | | | | | | | | | | | | | | |
|
| | | | | | |
RSRP
|
| | | | | | | | | | | | | | | | | | | |
|
| | | | | | |
MDCP
|
| | | | 29,618 | | | | | | | | | | | | 10,485 | | | |
|
| | | | 65,351 | | |
Name
|
| |
RSRP
($) |
| |
MDCP
($) |
| |
Total
($) |
| |||||||||
Mark Vergnano | | | | | 1,127,050 | | | | | | | | | | | | 1,127,050 | | |
Mark Newman | | | | | 307,801 | | | | | | 555,201 | | | | | | 863,002 | | |
Bryan Snell | | | | | 283,289 | | | | | | 300,000 | | | | | | 583,289 | | |
David Shelton | | | | | 230,482 | | | | | | | | | | | | 230,482 | | |
Paul Kirsch | | | | | | | | | | | 57,118 | | | | | | 57,118 | | |
Name
|
| |
Form of Compensation(1)
|
| |
Voluntary
or For Cause ($)(2) |
| |
Involuntary
Termination without Cause ($)(3) |
| |
Retirement
($)(4) |
| |
Death
($)(5) |
| |
Disability
($)(6) |
| |
Change in
Control(7) |
| ||||||||||||||||||
Mark Vergnano | | | Annual Salary | | | | | | | | | | | 525,000 | | | | | | | | | | | | | | | | | | | | | | | | 3,150,000 | | |
| | | Target Annual Bonus | | | | | | | | | | | 1,365,000 | | | | | | | | | | | | | | | | | | | | | | | | 4,095,000 | | |
| | |
Target Annual Bonus (pro-rated)
|
| | | | | | | | | | | | | | | | | | | | | | 1,365,000 | | | | | | 1,365,000 | | | | | | 1,365,000 | | |
| | | Health and Dental Benefits | | | | | | | | | | | 3,810 | | | | | | | | | | | | | | | | | | | | | | | | 45,721 | | |
| | | Outplacement Services | | | | | | | | | | | 1,505 | | | | | | | | | | | | | | | | | | | | | | | | 14,620 | | |
| | | Stock Options | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PSUs | | | | | 2,705,926 | | | | | | 2,705,926 | | | | | | 2,705,926 | | | | | | 2,705,926 | | | | | | 2,705,926 | | | | | | 2,828,806 | | |
Total | | | | | | | | 2,705,926 | | | | | | 4,601,241 | | | | | | 2,705,926 | | | | | | 4,070,926 | | | | | | 4,070,926 | | | | | | 11,499,147 | | |
Mark Newman | | | Annual Salary | | | | | | | | | | | 67,308 | | | | | | | | | | | | | | | | | | | | | | | | 1,400,000 | | |
| | | Target Annual Bonus | | | | | | | | | | | 630,000 | | | | | | | | | | | | | | | | | | | | | | | | 1,260,000 | | |
| | |
Target Annual Bonus (pro-rated)
|
| | | | | | | | | | | | | | | | | | | | | | 630,000 | | | | | | 630,000 | | | | | | 630,000 | | |
| | | Health and Dental Benefits | | | | | | | | | | | 3,810 | | | | | | | | | | | | | | | | | | | | | | | | 30,481 | | |
| | | Outplacement Services | | | | | | | | | | | 1,505 | | | | | | | | | | | | | | | | | | | | | | | | 14,620 | | |
| | | Stock Options | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PSUs | | | | | | | | | | | | | | | | | | | | | | | 1,212,631 | | | | | | 1,212,631 | | | | | | 1,261,796 | | |
Total | | | | | | | | | | | 702,623 | | | | | | | | | | | | 1,842,631 | | | | | | 1,842,631 | | | | | | 4,596,896 | | | |||
Sameer Ralhan | | | Annual Salary | | | | | | | | | | | 55,288 | | | | | | | | | | | | | | | | | | | | | | | | 1,150,000 | | |
| | | Target Annual Bonus | | | | | | | | | | | 460,000 | | | | | | | | | | | | | | | | | | | | | | | | 920,000 | | |
| | |
Target Annual Bonus (pro-rated)
|
| | | | | | | | | | | | | | | | | | | | | | 460,000 | | | | | | 460,000 | | | | | | 460,000 | | |
| | | Health and Dental Benefits | | | | | | | | | | | 5,586 | | | | | | | | | | | | | | | | | | | | | | | | 44,690 | | |
| | | Outplacement Services | | | | | | | | | | | 1,505 | | | | | | | | | | | | | | | | | | | | | | | | 14,620 | | |
| | | Stock Options | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PSUs | | | | | | | | | | | | | | | | | | | | | | | 417,860 | | | | | | 417,860 | | | | | | 510,717 | | |
Total | | | | | | | | | | | 522,380 | | | | | | | | | | | | 877,860 | | | | | | 877,860 | | | | | | 3,100,027 | | | |||
Bryan Snell | | | Annual Salary | | | | | | | | | | | 275,000 | | | | | | | | | | | | | | | | | | | | | | | | 1,100,000 | | |
| | | Target Annual Bonus | | | | | | | | | | | 412,500 | | | | | | | | | | | | | | | | | | | | | | | | 825,000 | | |
| | |
Target Annual Bonus (pro-rated)
|
| | | | | | | | | | | | | | | | | | | | | | 412,500 | | | | | | 412,500 | | | | | | 412,500 | | |
| | | Health and Dental Benefits | | | | | | | | | | | 3,810 | | | | | | | | | | | | | | | | | | | | | | | | 30,481 | | |
| | | Outplacement Services | | | | | | | | | | | 1,505 | | | | | | | | | | | | | | | | | | | | | | | | 14,620 | | |
| | | Stock Options | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PSUs | | | | | 439,692 | | | | | | 439,692 | | | | | | 439,692 | | | | | | 439,692 | | | | | | 439,692 | | | | | | 458,238 | | |
Total | | | | | 439,692 | | | | | | 1,132,507 | | | | | | 439,692 | | | | | | 852,192 | | | | | | 852,192 | | | | | | 2,840,839 | | | |||
David Shelton | | | Annual Salary | | | | | | | | | | | 230,769 | | | | | | | | | | | | | | | | | | | | | | | | 1,000,000 | | |
| | | Target Annual Bonus | | | | | | | | | | | 350,000 | | | | | | | | | | | | | | | | | | | | | | | | 700,000 | | |
| | |
Target Annual Bonus (pro-rated)
|
| | | | | | | | | | | | | | | | | | | | | | 350,000 | | | | | | 350,000 | | | | | | 350,000 | | |
| | | Health and Dental Benefits | | | | | | | | | | | 1,652 | | | | | | | | | | | | | | | | | | | | | | | | 13,213 | | |
| | | Outplacement Services | | | | | | | | | | | 1,505 | | | | | | | | | | | | | | | | | | | | | | | | 14,620 | | |
| | | Stock Options | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | PSUs | | | | | | | | | | | | | | | | | | | | | | | 710,943 | | | | | | 710,943 | | | | | | 695,778 | | |
Total | | | | | | | | | | | 583,926 | | | | | | | | | | | | 1,060,943 | | | | | | 1,060,943 | | | | | | 2,773,611 | | |
Name
|
| |
Form of Compensation(1)
|
| |
Voluntary
or For Cause ($)(2) |
| |
Involuntary
Termination without Cause ($)(3) |
| |
Retirement($)(4)
|
| |
Death
($)(5) |
| |
Disability($)(6)
|
| |
Change in
Control(7) |
| ||||||||||||
Edwin Sparks | | | Annual Salary | | |
|
| | | | 228,365 | | | |
|
| | | | | | | | | | | | | | | | 950,000 | | |
| | | Target Annual Bonus | | |
|
| | | | 356,250 | | | |
|
| | | | | | | | | | | | | | | | 712,500 | | |
| | |
Target Annual Bonus (pro-rated)
|
| |
|
| | | | | | | |
|
| | | | 356,250 | | | | | | 356,250 | | | | | | 356,250 | | |
| | | Health and Dental Benefits | | |
|
| | | | 1,531 | | | |
|
| | | | | | | | | | | | | | | | 12,251 | | |
| | | Outplacement Services | | |
|
| | | | 1,505 | | | |
|
| | | | | | | | | | | | | | | | 14,620 | | |
| | | Stock Options | | |
|
| | | | | | | |
|
| | | | | | | | | | | | | | | | | | |
| | | RSUs | | |
|
| | | | | | | |
|
| | | | 12,102 | | | | | | 12,102 | | | | | | 12,102 | | |
| | | PSUs | | |
|
| | | | | | | |
|
| | | | 275,990 | | | | | | 275,990 | | | | | | 352,502 | | |
Total | | |
|
| | | | 587,652 | | | |
|
| | | | 644,342 | | | | | | 644,342 | | | | | | 2,410,225 | | |
| | |
2019
(in thousands) |
| |
2018
(in thousands) |
| ||||||
Audit fees(1) | | | | $ | 7,690 | | | | | $ | 7,731 | | |
Audit-related fees(2) | | | | | 773 | | | | | | 234 | | |
Tax fees(3) | | | | | 692 | | | | | | 1,628 | | |
All other fees(4) | | | | | 1,433 | | | | | | 635 | | |
| | | | | | | | | | | | | |
Total | | | | $ | 10,588 | | | | | $ | 10,229 | | |
|
Proposal
|
| |
Vote Required
|
| |
Broker
Discretionary Voting Allowed? |
|
|
Election of Directors
|
| |
Majority of Votes Cast
|
| |
No
|
|
|
Advisory Approval of Executive Compensation
|
| |
Majority of Votes Represented and Entitled to Vote
|
| |
No
|
|
|
Ratification of PwC
|
| |
Majority of Votes Represented and Entitled to Vote
|
| |
Yes
|
|
|
Shareholder Proposal
|
| |
Majority of Votes Represented and Entitled to Vote
|
| |
No
|
|
1 Year Chemours Chart |
1 Month Chemours Chart |
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