v3.26.1
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

Pay Versus Performance

The following table summarizes compensation paid to the Company’s principal executive officer (“PEO”) as set forth in the Summary Compensation Table, compensation actually paid to the PEO, average compensation paid to the Company’s Non-PEO named executive officers ("NEOs”) as set forth in the Summary Compensation Table, and average compensation actually paid to the Company’s Non-PEO NEOs, each as calculated in accordance with SEC rules, and certain Company and peer group performance measures for the periods indicated:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value of Initial Fixed $100 Investment Based on (3):

 

 

 

 

000’s

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year

 

Summary
Compensation
Table Total
for PEO ($) (1)

 

Compensation Actually Paid to PEO ($) (2)

 

Average Summary Compensation Table Total for Non-PEO NEOs ($)(1)

 

Average Compensation Actually Paid to Non-PEO NEOs ($)(2)

 

Total
Shareholder
Return ($)

 

Peer Group
Total
Shareholder
Return ($)

 

Net
Income
($)(4)

 

Operating
Income

($)(4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

2,187,652

 

 

 

 

 

2,397,455

 

 

 

 

 

1,088,477

 

 

 

 

 

1,215,324

 

 

 

 

 

163.00

 

 

 

 

 

159.55

 

 

 

 

 

53,017

 

 

 

 

 

95,363

 

2024

 

 

 

1,954,761

 

 

 

 

 

2,259,586

 

 

 

 

 

941,974

 

 

 

 

 

1,014,820

 

 

 

 

 

127.10

 

 

 

 

 

146.60

 

 

 

 

 

40,115

 

 

 

 

 

91,443

 

2023

 

 

 

1,707,848

 

 

 

 

 

2,109,366

 

 

 

 

 

894,343

 

 

 

 

 

1,029,150

 

 

 

 

 

116.78

 

 

 

 

 

131.90

 

 

 

 

 

34,951

 

 

 

 

 

87,041

 

2022

 

 

 

1,712,818

 

 

 

 

 

1,231,468

 

 

 

 

 

781,145

 

 

 

 

 

450,930

 

 

 

 

 

82.17

 

 

 

 

 

104.62

 

 

 

 

 

11,195

 

 

 

 

 

40,183

 

2021

 

 

 

1,078,110

 

 

 

 

 

920,864

 

 

 

 

 

835,208

 

 

 

 

 

823,730

 

 

 

 

 

139.69

 

 

 

 

 

122.96

 

 

 

 

 

29,851

 

 

 

 

 

39,356

 

 

(1)
For 2021, the PEO was Jeffrey S. Gorman. Scott A. King was promoted to Chief Executive Officer on January 1, 2022 and was the PEO for 2022, 2023, 2024, and 2025. For 2021, Non-PEO NEOs include Scott A. King, James C. Kerr and Brigette A. Burnell. For 2022, 2023, and 2024, Non-PEO NEOs include Jeffrey S. Gorman, James C. Kerr and Brigette A. Burnell. For 2025, Non-PEO NEO's include James C. Kerr and Brigette A. Burnell.
(2)
The “Reconciliation of Actual Compensation Paid” table below details the additions to and deductions from the Summary Compensation Table totals to calculate the Compensation Actually Paid amounts.
(3)
Represents cumulative shareholder total returns (assuming reinvestment of dividends) on $100 invested on December 31, 2020 through December 31, 2025 in the Company’s common shares and the Peer Group, S&P Industrial Machinery index.
(4)
2022, 2023, 2024, and 2025 results include the acquisition of Fill-Rite, a division of Tuthill, which was acquired on May 31, 2022. As further described in the Company’s Form 10-K, Fill-Rite’s results are included in the Company’s results beginning June 1, 2022. Certain one-time acquisition costs, as well as amortization of the set up in value of acquired inventories and backlog, are also included in the 2022 results.

Reconciliation of Actual Compensation Paid

The following table reconciles the PEO Summary Compensation Table total and the Non-PEO NEOs average Summary Compensation Table total to PEO Compensation Actually Paid and NEOs average Compensation Actually Paid for the periods indicated:

 

 

 

 

 

 

 

 

Increase (Decrease) in Value of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total
Compensation
Paid from
Summary Compensation
Table ($)

 

Current Year
Grants ($)

 

Prior Year
Grants ($)

 

Grants
Vesting in
Current Year
($)

 

Grants from
Prior Years
Forfeited in
Current Year ($)

 

Change in
Pension Value,
net of Service
Cost ($)

 

Compensation
Actually Paid ($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PEO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

2,187,652

 

 

 

 

 

174,345

 

 

 

 

 

283,236

 

 

 

 

 

962

 

 

 

 

 

(183,750

)

 

 

 

 

(64,990

)

 

 

 

 

2,397,455

 

2024

 

 

 

1,954,761

 

 

 

 

 

28,616

 

 

 

 

 

269,916

 

 

 

 

 

6,467

 

 

 

 

 

-

 

 

 

 

 

(173

)

 

 

 

 

2,259,586

 

2023

 

 

 

1,707,848

 

 

 

 

 

120,887

 

 

 

 

 

276,954

 

 

 

 

 

44,399

 

 

 

 

 

-

 

 

 

 

 

(40,722

)

 

 

 

 

2,109,366

 

2022

 

 

 

1,712,818

 

 

 

 

 

(242,563

)

 

 

 

 

(126,506

)

 

 

 

 

-

 

 

 

 

 

(148,648

)

 

 

 

 

36,367

 

 

 

 

 

1,231,468

 

2021

 

 

 

1,078,110

 

 

 

 

 

82,833

 

 

 

 

 

72,757

 

 

 

 

 

766

 

 

 

 

 

(188,535

)

 

 

 

 

(125,067

)

 

 

 

 

920,864

 

NEO Average

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

1,088,477

 

 

 

 

 

66,829

 

 

 

 

 

149,093

 

 

 

 

 

497

 

 

 

 

 

(89,572

)

 

 

 

 

-

 

 

 

 

 

1,215,324

 

2024

 

 

 

941,974

 

 

 

 

 

8,191

 

 

 

 

 

108,045

 

 

 

 

 

1,156

 

 

 

 

 

-

 

 

 

 

 

(44,546

)

 

 

 

 

1,014,820

 

2023

 

 

 

894,343

 

 

 

 

 

42,301

 

 

 

 

 

102,519

 

 

 

 

 

31,857

 

 

 

 

 

-

 

 

 

 

 

(41,870

)

 

 

 

 

1,029,150

 

2022

 

 

 

781,145

 

 

 

 

 

(59,617

)

 

 

 

 

(121,939

)

 

 

 

 

-

 

 

 

 

 

(148,659

)

 

 

 

 

-

 

 

 

 

 

450,930

 

2021

 

 

 

835,208

 

 

 

 

 

63,501

 

 

 

 

 

48,497

 

 

 

 

 

447

 

 

 

 

 

(125,679

)

 

 

 

 

1,757

 

 

 

 

 

823,730

 

 

 

12/31/25

 

12/31/24

 

12/31/23

 

12/31/22

 

12/31/21

 

 

 

 

 

 

 

 

 

 

 

Closing Share Price

 

$47.75

 

$37.92

 

$35.53

 

$25.62

 

$44.55

       
Company Selected Measure Name OperatingIncome        
Named Executive Officers, Footnote For 2022, 2023, and 2024, Non-PEO NEOs include Jeffrey S. Gorman, James C. Kerr and Brigette A. Burnell. For 2025, Non-PEO NEO's include James C. Kerr and Brigette A. Burnell.        
Peer Group Issuers, Footnote
(3)
Represents cumulative shareholder total returns (assuming reinvestment of dividends) on $100 invested on December 31, 2020 through December 31, 2025 in the Company’s common shares and the Peer Group, S&P Industrial Machinery index.
       
PEO Total Compensation Amount $ 2,187,652 $ 1,954,761 $ 1,707,848 $ 1,712,818 $ 1,078,110
PEO Actually Paid Compensation Amount $ 2,397,455 2,259,586 2,109,366 1,231,468 920,864
Adjustment To PEO Compensation, Footnote

Reconciliation of Actual Compensation Paid

The following table reconciles the PEO Summary Compensation Table total and the Non-PEO NEOs average Summary Compensation Table total to PEO Compensation Actually Paid and NEOs average Compensation Actually Paid for the periods indicated:

 

 

 

 

 

 

 

 

Increase (Decrease) in Value of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total
Compensation
Paid from
Summary Compensation
Table ($)

 

Current Year
Grants ($)

 

Prior Year
Grants ($)

 

Grants
Vesting in
Current Year
($)

 

Grants from
Prior Years
Forfeited in
Current Year ($)

 

Change in
Pension Value,
net of Service
Cost ($)

 

Compensation
Actually Paid ($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PEO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

2,187,652

 

 

 

 

 

174,345

 

 

 

 

 

283,236

 

 

 

 

 

962

 

 

 

 

 

(183,750

)

 

 

 

 

(64,990

)

 

 

 

 

2,397,455

 

2024

 

 

 

1,954,761

 

 

 

 

 

28,616

 

 

 

 

 

269,916

 

 

 

 

 

6,467

 

 

 

 

 

-

 

 

 

 

 

(173

)

 

 

 

 

2,259,586

 

2023

 

 

 

1,707,848

 

 

 

 

 

120,887

 

 

 

 

 

276,954

 

 

 

 

 

44,399

 

 

 

 

 

-

 

 

 

 

 

(40,722

)

 

 

 

 

2,109,366

 

2022

 

 

 

1,712,818

 

 

 

 

 

(242,563

)

 

 

 

 

(126,506

)

 

 

 

 

-

 

 

 

 

 

(148,648

)

 

 

 

 

36,367

 

 

 

 

 

1,231,468

 

2021

 

 

 

1,078,110

 

 

 

 

 

82,833

 

 

 

 

 

72,757

 

 

 

 

 

766

 

 

 

 

 

(188,535

)

 

 

 

 

(125,067

)

 

 

 

 

920,864

 

NEO Average

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

1,088,477

 

 

 

 

 

66,829

 

 

 

 

 

149,093

 

 

 

 

 

497

 

 

 

 

 

(89,572

)

 

 

 

 

-

 

 

 

 

 

1,215,324

 

2024

 

 

 

941,974

 

 

 

 

 

8,191

 

 

 

 

 

108,045

 

 

 

 

 

1,156

 

 

 

 

 

-

 

 

 

 

 

(44,546

)

 

 

 

 

1,014,820

 

2023

 

 

 

894,343

 

 

 

 

 

42,301

 

 

 

 

 

102,519

 

 

 

 

 

31,857

 

 

 

 

 

-

 

 

 

 

 

(41,870

)

 

 

 

 

1,029,150

 

2022

 

 

 

781,145

 

 

 

 

 

(59,617

)

 

 

 

 

(121,939

)

 

 

 

 

-

 

 

 

 

 

(148,659

)

 

 

 

 

-

 

 

 

 

 

450,930

 

2021

 

 

 

835,208

 

 

 

 

 

63,501

 

 

 

 

 

48,497

 

 

 

 

 

447

 

 

 

 

 

(125,679

)

 

 

 

 

1,757

 

 

 

 

 

823,730

 

       
Non-PEO NEO Average Total Compensation Amount $ 1,088,477 941,974 894,343 781,145 835,208
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,215,324 1,014,820 1,029,150 450,930 823,730
Adjustment to Non-PEO NEO Compensation Footnote

Reconciliation of Actual Compensation Paid

The following table reconciles the PEO Summary Compensation Table total and the Non-PEO NEOs average Summary Compensation Table total to PEO Compensation Actually Paid and NEOs average Compensation Actually Paid for the periods indicated:

 

 

 

 

 

 

 

 

Increase (Decrease) in Value of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total
Compensation
Paid from
Summary Compensation
Table ($)

 

Current Year
Grants ($)

 

Prior Year
Grants ($)

 

Grants
Vesting in
Current Year
($)

 

Grants from
Prior Years
Forfeited in
Current Year ($)

 

Change in
Pension Value,
net of Service
Cost ($)

 

Compensation
Actually Paid ($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PEO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

2,187,652

 

 

 

 

 

174,345

 

 

 

 

 

283,236

 

 

 

 

 

962

 

 

 

 

 

(183,750

)

 

 

 

 

(64,990

)

 

 

 

 

2,397,455

 

2024

 

 

 

1,954,761

 

 

 

 

 

28,616

 

 

 

 

 

269,916

 

 

 

 

 

6,467

 

 

 

 

 

-

 

 

 

 

 

(173

)

 

 

 

 

2,259,586

 

2023

 

 

 

1,707,848

 

 

 

 

 

120,887

 

 

 

 

 

276,954

 

 

 

 

 

44,399

 

 

 

 

 

-

 

 

 

 

 

(40,722

)

 

 

 

 

2,109,366

 

2022

 

 

 

1,712,818

 

 

 

 

 

(242,563

)

 

 

 

 

(126,506

)

 

 

 

 

-

 

 

 

 

 

(148,648

)

 

 

 

 

36,367

 

 

 

 

 

1,231,468

 

2021

 

 

 

1,078,110

 

 

 

 

 

82,833

 

 

 

 

 

72,757

 

 

 

 

 

766

 

 

 

 

 

(188,535

)

 

 

 

 

(125,067

)

 

 

 

 

920,864

 

NEO Average

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

1,088,477

 

 

 

 

 

66,829

 

 

 

 

 

149,093

 

 

 

 

 

497

 

 

 

 

 

(89,572

)

 

 

 

 

-

 

 

 

 

 

1,215,324

 

2024

 

 

 

941,974

 

 

 

 

 

8,191

 

 

 

 

 

108,045

 

 

 

 

 

1,156

 

 

 

 

 

-

 

 

 

 

 

(44,546

)

 

 

 

 

1,014,820

 

2023

 

 

 

894,343

 

 

 

 

 

42,301

 

 

 

 

 

102,519

 

 

 

 

 

31,857

 

 

 

 

 

-

 

 

 

 

 

(41,870

)

 

 

 

 

1,029,150

 

2022

 

 

 

781,145

 

 

 

 

 

(59,617

)

 

 

 

 

(121,939

)

 

 

 

 

-

 

 

 

 

 

(148,659

)

 

 

 

 

-

 

 

 

 

 

450,930

 

2021

 

 

 

835,208

 

 

 

 

 

63,501

 

 

 

 

 

48,497

 

 

 

 

 

447

 

 

 

 

 

(125,679

)

 

 

 

 

1,757

 

 

 

 

 

823,730

 

       
Compensation Actually Paid vs. Total Shareholder Return

img266058062_15.gif

       
Compensation Actually Paid vs. Net Income

img266058062_16.gif

       
Compensation Actually Paid vs. Company Selected Measure

img266058062_16.gif

       
Total Shareholder Return Vs Peer Group

img266058062_15.gif

       
Tabular List, Table

The three items listed below are, in the Company’s assessment, the most important financial performance measures used by the Company to link Compensation Actually Paid for 2025 to Company performance:

1.
Operating income
2.
Adjusted operating income
3.
Average operating working capital to sales
       
Total Shareholder Return Amount $ 163 127.1 116.78 82.17 139.69
Peer Group Total Shareholder Return Amount 159.55 146.6 131.9 104.62 122.96
Net Income (Loss) $ 53,017,000 $ 40,115,000 $ 34,951,000 $ 11,195,000 $ 29,851,000
Company Selected Measure Amount 95,363,000 91,443,000 87,041,000 40,183,000 39,356,000
PEO Name Scott A. King Scott A. King Scott A. King Scott A. King Jeffrey S. Gorman
Closing Share Price $ 47.75 $ 37.92 $ 35.53 $ 25.62 $ 44.55
Measure:: 1          
Pay vs Performance Disclosure          
Name Operating income        
Measure:: 2          
Pay vs Performance Disclosure          
Name Adjusted operating income        
Measure:: 3          
Pay vs Performance Disclosure          
Name Average operating working capital to sales        
PEO | Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (64,990) $ (173) $ (40,722) $ 36,367 $ (125,067)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 174,345 28,616 120,887 (242,563) 82,833
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 283,236 269,916 276,954 (126,506) 72,757
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 962 6,467 44,399 0 766
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (183,750) 0 0 (148,648) (188,535)
Non-PEO NEO | Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 (44,546) (41,870) 0 1,757
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 66,829 8,191 42,301 (59,617) 63,501
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 149,093 108,045 102,519 (121,939) 48,497
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 497 1,156 31,857 0 447
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (89,572) $ 0 $ 0 $ (148,659) $ (125,679)