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

As required by Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid (“CAP”) and certain financial performance of the Company. In determining CAP to the named executive officers, the Company is required to make various adjustments to the amounts that have been previously reported in the Summary Compensation Table (“SCT”) for the fiscal years presented, as the SEC’s valuation methods for this section differ from those required in the Summary Compensation Table. For further information concerning the Company’s variable pay-for-performance philosophy and how the Company’s aligns

executive compensation with the Company’s performance, refer to “Executive Compensation — Compensation Discussion and Analysis.”


 

 

Summary
Compensation

 

Compensation
Actually

 

Average
Summary
Compensation
Table Total

 

Average
Compensation
Actually Paid

 

Value of Initial
Fixed $100
Investment Based On:

 


 

 

Adjusted

Year
(a)

 

Table Total to
CEO
(b)

 

Paid to
CEO (1)
(c)

 

for Non-CEO
NEOs (2) 
(d)

 

to Non-CEO
NEOs (2)
(e)

 

Company
TSR (3) 
(f)

 

Peer Group
TSR (4)
(g)

 

Net Income
(in thousands) (5)
(h)

 

EBITDA
(in thousands) (6)
(i)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

$

8,143,500

 

 

 

$

(2,039,267

)

 

 

$

1,506,556

 

 

 

$

(4,298,210

)

 

 

$

24.91

 

 

 

$

352.79

 

 

 

$

(271,088

)

 

 

$

128,589

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

$

8,614,814

 

 

 

$

4,660,812

 

 

 

$

2,129,403

 

 

 

$

1,255,053

 

 

 

$

52.08

 

 

 

$

286.10

 

 

 

$

(10,345

)

 

 

$

140,810

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

$

8,922,581

 

 

 

$

10,501,439

 

 

 

$

2,688,086

 

 

 

$

4,041,336

 

 

 

$

58.29

 

 

 

$

210.85

 

 

 

$

(117,420

)

 

 

$

126,806

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

$

6,101,031

 

 

 

$

(1,912,798

)

 

 

$

1,432,824

 

 

 

$

(866,781

)

 

 

$

54.95

 

 

 

$

134.82

 

 

 

$

8,741

 

 

 

$

124,519

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

$

5,426,105

 

 

 

$

1,231,283

 

 

 

$

1,693,926

 

 

 

$

467,057

 

 

 

$

124.71

 

 

 

$

189.64

 

 

 

$

(56,037

)

 

 

$

93,120

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)
The dollar amounts reported in column (c) represent the amount of CAP to our Chief Executive Officer (“CEO”), John A. Morris, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Morris during the applicable year. To calculate CAP to Mr. Morris, for each of the years shown, the following amounts were deducted from and added to SCT total compensation.

 

Year

 

SCT Total

 

Deductions
from
SCT Total
(i)

 

Additions
to
SCT Total
(ii)

 

CAP

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

$

8,143,500

 

 

 

$

(7,293,000

)

 

 

$

(2,889,767

)

 

 

$

(2,039,267

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

$

8,614,814

 

 

 

$

(7,615,714

)

 

 

$

3,661,711

 

 

 

$

4,660,812

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

$

8,922,581

 

 

 

$

(7,952,685

)

 

 

$

9,531,543

 

 

 

$

10,501,439

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

$

6,101,031

 

 

 

$

(5,499,988

)

 

 

$

(2,513,842

)

 

 

$

(1,912,798

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

$

5,426,105

 

 

 

$

(4,749,989

)

 

 

$

555,167

 

 

 

$

1,231,283

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(i)
Represents the grant date fair value of equity-based awards granted each year, as shown in the Share Awards column of the Summary Compensation Table.
(ii)
Reflects the value of equity calculated in accordance with the SEC methodology for determining CAP for each year shown. The equity component of CAP is further detailed in the supplemental table below.

CEO Equity Component of CAP

 

Year

 

Fair Value of
Equity Awards
Granted in the
Year and
Outstanding and
Unvested as of
Year End

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
and Outstanding
and Unvested as
of Year End

 

Fair Value as of
Vesting Date of
Equity Awards
Granted and
Vested in the
Year

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
that Vested in
the Year

 

Fair Value at the
End of the Prior
Year of Equity
Awards that
were Forfeited
in the Year

 

Value of
Dividends or
other Earnings
Paid on Equity
Awards not
Otherwise
Reflected in Fair
Value or Total
Compensation

 

Total
Equity
Award
Adjustments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

$

3,515,200

 

 

 

 

$

(1,218,612

)

 

 

 

$

—

 

 

 

 

$

(5,186,355

)

 

 

 

$

—

 

 

 

 

$

—

 

 

 

 

$

(2,889,767

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

$

6,179,303

 

 

 

 

$

(2,538,597

)

 

 

 

$

—

 

 

 

 

$

21,005

 

 

 

 

$

—

 

 

 

 

$

—

 

 

 

 

$

3,661,711

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

$

11,510,186

 

 

 

 

$

(1,057,920

)

 

 

 

$

—

 

 

 

 

$

(14,004

)

 

 

 

$

906,720

 

 

 

 

$

—

 

 

 

 

$

9,531,543

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

$

2,646,438

 

 

 

 

$

(4,334,653

)

 

 

 

$

—

 

 

 

 

$

(825,626

)

 

 

 

$

—

 

 

 

 

$

—

 

 

 

 

$

(2,513,842

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

$

3,903,559

 

 

 

 

$

(2,884,097

)

 

 

 

$

—

 

 

 

 

$

(464,295

)

 

 

 

$

—

 

 

 

 

$

—

 

 

 

 

$

555,167

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2)
The dollar amounts reported in column (e) represent the average amount of CAP to the non-CEO named executive officers (“Non-CEO NEOs”) as a group, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the Non-CEO NEOs during the applicable year. The Non-CEO NEOs reflected in columns (d) and (e) consist of the following individuals for each of the years shown: (i) Shaler Alias, Timothy J. Murphy, Tyler B. Dempsey and Jacob H. Moore for 2021; (ii) Shaler Alias, Timothy J. Murphy, Tyler B. Dempsey, David Guthrie and Michael F. Jackson for 2022; (iii) Timothy J. Murphy, Tyler B. Dempsey, David Guthrie and Jacob H. Moore for 2023 and 2024; (iv)Robert S. Houser, Timothy J. Murphy, Thomas E. Sullivan, David Guthrie, Tyler Dempsey and Shaler Alias for 2025. To calculate CAP to our Non-CEO NEOs for each of the years shown, the following amounts were deducted from and added to SCT total compensation.

Average Non-CEO NEOs SCT Total to CAP Reconciliation:

 

Year

 

SCT Total

 

Deductions
from
SCT Total
(i)

 

Additions
to
SCT Total
(ii)

 

CAP

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

$

1,506,556

 

 

 

$

(1,087,283

)

 

 

$

(4,717,483

)

 

 

$

(4,298,210

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

$

2,129,403

 

 

 

$

(1,467,194

)

 

 

$

592,844

 

 

 

$

1,255,053

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

$

2,688,086

 

 

 

$

(1,418,022

)

 

 

$

2,771,272

 

 

 

$

4,041,336

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

$

1,432,824

 

 

 

$

(1,034,808

)

 

 

$

(1,264,797

)

 

 

$

(866,781

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

$

1,693,926

 

 

 

$

(954,815

)

 

 

$

(272,054

)

 

 

$

467,057

 

 

(i)
Represents the grant date fair value of equity-based awards granted each year, as shown in the Share Awards column of the Summary Compensation Table.
(ii)
Reflects the value of equity calculated in accordance with the SEC methodology for determining CAP for each year shown. The equity component of CAP is further detailed in the supplemental table below.

Average Non-CEO NEOs Equity Component of CAP:

 

Year

 

Fair Value of
Equity Awards
Granted in the
Year and
Outstanding and
Unvested as of
Year End

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
and Outstanding
and Unvested as
of Year End

 

Fair Value as of
Vesting Date of
Equity Awards
Granted and
Vested in the
Year

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
that Vested in
the Year

 

Fair Value at the
End of the Prior
Year of Equity
Awards that
were Forfeited
in the Year

 

Value of
Dividends or
other Earnings
Paid on Equity
Awards not
Otherwise
Reflected in Fair
Value or Total
Compensation

 

Total
Equity
Award
Adjustments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

$

392,263

 

 

 

 

$

(843,403

)

 

 

 

$

—

 

 

 

 

$

(504,257

)

 

 

 

$

(3,762,086

)

 

 

 

$

—

 

 

 

 

$

(4,717,483

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

$

1,190,464

 

 

 

 

$

(672,331

)

 

 

 

$

—

 

 

 

 

$

74,712

 

 

 

 

$

—

 

 

 

 

$

—

 

 

 

 

$

592,844

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

$

3,083,899

 

 

 

 

$

(166,538

)

 

 

 

$

—

 

 

 

 

$

(3,906

)

 

 

 

$

(142,183

)

 

 

 

$

—

 

 

 

 

$

2,771,272

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

$

443,280

 

 

 

 

$

(977,999

)

 

 

 

$

118,182

 

 

 

 

$

(401,234

)

 

 

 

$

(447,026

)

 

 

 

$

—

 

 

 

 

$

(1,264,797

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

$

784,670

 

 

 

 

$

(881,485

)

 

 

 

$

—

 

 

 

 

$

(175,239

)

 

 

 

$

—

 

 

 

 

$

—

 

 

 

 

$

(272,054

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(3)
Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming reinvestment of all dividends, if any, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period.
(4)
Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the constituent members of the Standard and Poor’s (“S&P”) 500 Index and S&P Information Technology Index.
(5)
The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year.
(6)
Adjusted EBITDA is a non-GAAP financial measure that represents net income prior to interest expense, tax expense, depreciation and amortization, as adjusted to add back certain charges deemed to not be part of normal operating expenses, non-cash charges and/or non-recurring charges, such as loss on extinguishment of debt, loss on termination of interest rate hedge, non-cash change in fair value of contingent consideration, non-cash change in fair value of assets and liabilities, share-based compensation charges, transaction expenses, restructuring and other strategic initiative costs and other non-recurring charges. Please refer to p. 46 of our Annual Report on Form 10-K for reconciliations to the closest GAAP measure.
       
Company Selected Measure Name Adjusted EBITDA        
Named Executive Officers, Footnote The dollar amounts reported in column (c) represent the amount of CAP to our Chief Executive Officer (“CEO”), John A. Morris, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Morris during the applicable year.The dollar amounts reported in column (e) represent the average amount of CAP to the non-CEO named executive officers (“Non-CEO NEOs”) as a group, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the Non-CEO NEOs during the applicable year. The Non-CEO NEOs reflected in columns (d) and (e) consist of the following individuals for each of the years shown: (i) Shaler Alias, Timothy J. Murphy, Tyler B. Dempsey and Jacob H. Moore for 2021; (ii) Shaler Alias, Timothy J. Murphy, Tyler B. Dempsey, David Guthrie and Michael F. Jackson for 2022; (iii) Timothy J. Murphy, Tyler B. Dempsey, David Guthrie and Jacob H. Moore for 2023 and 2024; (iv)Robert S. Houser, Timothy J. Murphy, Thomas E. Sullivan, David Guthrie, Tyler Dempsey and Shaler Alias for 2025.        
Peer Group Issuers, Footnote
(4)
Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the constituent members of the Standard and Poor’s (“S&P”) 500 Index and S&P Information Technology Index.
       
PEO Total Compensation Amount $ 8,143,500 $ 8,614,814 $ 8,922,581 $ 6,101,031 $ 5,426,105
PEO Actually Paid Compensation Amount $ (2,039,267) 4,660,812 10,501,439 (1,912,798) 1,231,283
Adjustment To PEO Compensation, Footnote
(1)
The dollar amounts reported in column (c) represent the amount of CAP to our Chief Executive Officer (“CEO”), John A. Morris, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Morris during the applicable year. To calculate CAP to Mr. Morris, for each of the years shown, the following amounts were deducted from and added to SCT total compensation.

 

Year

 

SCT Total

 

Deductions
from
SCT Total
(i)

 

Additions
to
SCT Total
(ii)

 

CAP

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

$

8,143,500

 

 

 

$

(7,293,000

)

 

 

$

(2,889,767

)

 

 

$

(2,039,267

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

$

8,614,814

 

 

 

$

(7,615,714

)

 

 

$

3,661,711

 

 

 

$

4,660,812

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

$

8,922,581

 

 

 

$

(7,952,685

)

 

 

$

9,531,543

 

 

 

$

10,501,439

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

$

6,101,031

 

 

 

$

(5,499,988

)

 

 

$

(2,513,842

)

 

 

$

(1,912,798

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

$

5,426,105

 

 

 

$

(4,749,989

)

 

 

$

555,167

 

 

 

$

1,231,283

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(i)
Represents the grant date fair value of equity-based awards granted each year, as shown in the Share Awards column of the Summary Compensation Table.
(ii)
Reflects the value of equity calculated in accordance with the SEC methodology for determining CAP for each year shown. The equity component of CAP is further detailed in the supplemental table below.

CEO Equity Component of CAP

 

Year

 

Fair Value of
Equity Awards
Granted in the
Year and
Outstanding and
Unvested as of
Year End

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
and Outstanding
and Unvested as
of Year End

 

Fair Value as of
Vesting Date of
Equity Awards
Granted and
Vested in the
Year

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
that Vested in
the Year

 

Fair Value at the
End of the Prior
Year of Equity
Awards that
were Forfeited
in the Year

 

Value of
Dividends or
other Earnings
Paid on Equity
Awards not
Otherwise
Reflected in Fair
Value or Total
Compensation

 

Total
Equity
Award
Adjustments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

$

3,515,200

 

 

 

 

$

(1,218,612

)

 

 

 

$

—

 

 

 

 

$

(5,186,355

)

 

 

 

$

—

 

 

 

 

$

—

 

 

 

 

$

(2,889,767

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

$

6,179,303

 

 

 

 

$

(2,538,597

)

 

 

 

$

—

 

 

 

 

$

21,005

 

 

 

 

$

—

 

 

 

 

$

—

 

 

 

 

$

3,661,711

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

$

11,510,186

 

 

 

 

$

(1,057,920

)

 

 

 

$

—

 

 

 

 

$

(14,004

)

 

 

 

$

906,720

 

 

 

 

$

—

 

 

 

 

$

9,531,543

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

$

2,646,438

 

 

 

 

$

(4,334,653

)

 

 

 

$

—

 

 

 

 

$

(825,626

)

 

 

 

$

—

 

 

 

 

$

—

 

 

 

 

$

(2,513,842

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

$

3,903,559

 

 

 

 

$

(2,884,097

)

 

 

 

$

—

 

 

 

 

$

(464,295

)

 

 

 

$

—

 

 

 

 

$

—

 

 

 

 

$

555,167

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
       
Non-PEO NEO Average Total Compensation Amount $ 1,506,556 2,129,403 2,688,086 1,432,824 1,693,926
Non-PEO NEO Average Compensation Actually Paid Amount $ (4,298,210) 1,255,053 4,041,336 (866,781) 467,057
Adjustment to Non-PEO NEO Compensation Footnote
(2)
The dollar amounts reported in column (e) represent the average amount of CAP to the non-CEO named executive officers (“Non-CEO NEOs”) as a group, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the Non-CEO NEOs during the applicable year. The Non-CEO NEOs reflected in columns (d) and (e) consist of the following individuals for each of the years shown: (i) Shaler Alias, Timothy J. Murphy, Tyler B. Dempsey and Jacob H. Moore for 2021; (ii) Shaler Alias, Timothy J. Murphy, Tyler B. Dempsey, David Guthrie and Michael F. Jackson for 2022; (iii) Timothy J. Murphy, Tyler B. Dempsey, David Guthrie and Jacob H. Moore for 2023 and 2024; (iv)Robert S. Houser, Timothy J. Murphy, Thomas E. Sullivan, David Guthrie, Tyler Dempsey and Shaler Alias for 2025. To calculate CAP to our Non-CEO NEOs for each of the years shown, the following amounts were deducted from and added to SCT total compensation.

Average Non-CEO NEOs SCT Total to CAP Reconciliation:

 

Year

 

SCT Total

 

Deductions
from
SCT Total
(i)

 

Additions
to
SCT Total
(ii)

 

CAP

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

$

1,506,556

 

 

 

$

(1,087,283

)

 

 

$

(4,717,483

)

 

 

$

(4,298,210

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

$

2,129,403

 

 

 

$

(1,467,194

)

 

 

$

592,844

 

 

 

$

1,255,053

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

$

2,688,086

 

 

 

$

(1,418,022

)

 

 

$

2,771,272

 

 

 

$

4,041,336

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

$

1,432,824

 

 

 

$

(1,034,808

)

 

 

$

(1,264,797

)

 

 

$

(866,781

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

$

1,693,926

 

 

 

$

(954,815

)

 

 

$

(272,054

)

 

 

$

467,057

 

 

(i)
Represents the grant date fair value of equity-based awards granted each year, as shown in the Share Awards column of the Summary Compensation Table.
(ii)
Reflects the value of equity calculated in accordance with the SEC methodology for determining CAP for each year shown. The equity component of CAP is further detailed in the supplemental table below.

Average Non-CEO NEOs Equity Component of CAP:

 

Year

 

Fair Value of
Equity Awards
Granted in the
Year and
Outstanding and
Unvested as of
Year End

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
and Outstanding
and Unvested as
of Year End

 

Fair Value as of
Vesting Date of
Equity Awards
Granted and
Vested in the
Year

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
that Vested in
the Year

 

Fair Value at the
End of the Prior
Year of Equity
Awards that
were Forfeited
in the Year

 

Value of
Dividends or
other Earnings
Paid on Equity
Awards not
Otherwise
Reflected in Fair
Value or Total
Compensation

 

Total
Equity
Award
Adjustments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

$

392,263

 

 

 

 

$

(843,403

)

 

 

 

$

—

 

 

 

 

$

(504,257

)

 

 

 

$

(3,762,086

)

 

 

 

$

—

 

 

 

 

$

(4,717,483

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

$

1,190,464

 

 

 

 

$

(672,331

)

 

 

 

$

—

 

 

 

 

$

74,712

 

 

 

 

$

—

 

 

 

 

$

—

 

 

 

 

$

592,844

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

$

3,083,899

 

 

 

 

$

(166,538

)

 

 

 

$

—

 

 

 

 

$

(3,906

)

 

 

 

$

(142,183

)

 

 

 

$

—

 

 

 

 

$

2,771,272

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

$

443,280

 

 

 

 

$

(977,999

)

 

 

 

$

118,182

 

 

 

 

$

(401,234

)

 

 

 

$

(447,026

)

 

 

 

$

—

 

 

 

 

$

(1,264,797

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

$

784,670

 

 

 

 

$

(881,485

)

 

 

 

$

—

 

 

 

 

$

(175,239

)

 

 

 

$

—

 

 

 

 

$

—

 

 

 

 

$

(272,054

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
       
Compensation Actually Paid vs. Total Shareholder Return

img52041425_38.gif

        
Compensation Actually Paid vs. Net Income

Compensation Actually Paid versus Net Income

The following graph illustrates the relationship between net income and CAP. The Company does not use net income as a performance measure in its overall executive compensation program.

 

img52041425_39.gif

        
Compensation Actually Paid vs. Company Selected Measure

Compensation Actually Paid and Adjusted EBITDA

img52041425_40.gif

        
Total Shareholder Return Vs Peer Group

img52041425_38.gif

        
Tabular List, Table

Most Important Performance Measures

The three items listed below represent the most important metrics we used to determine CAP for FY2025 as further described in our Compensation Discussion and Analysis (CD&A).

Most Important Performance Measures

 

 

Adjusted EBITDA

 

 

Normalized Organic Gross Profit Growth

 

 

Total Stockholder Return

 
       
Total Shareholder Return Amount $ 24.91 52.08 58.29 54.95 124.71
Peer Group Total Shareholder Return Amount $ 352.79 $ 286.1 $ 210.85 $ 134.82 $ 189.64
Company Selected Measure Amount 128,589,000 140,810,000 126,806,000 124,519,000 93,120,000
PEO Name John A. Morris        
Net Income (Loss) $ (271,088,000) $ (10,345,000) $ (117,420,000) $ 8,741,000 $ (56,037,000)
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted EBITDA        
Non-GAAP Measure Description Adjusted EBITDA is a non-GAAP financial measure that represents net income prior to interest expense, tax expense, depreciation and amortization, as adjusted to add back certain charges deemed to not be part of normal operating expenses, non-cash charges and/or non-recurring charges, such as loss on extinguishment of debt, loss on termination of interest rate hedge, non-cash change in fair value of contingent consideration, non-cash change in fair value of assets and liabilities, share-based compensation charges, transaction expenses, restructuring and other strategic initiative costs and other non-recurring charges. Please refer to p. 46 of our Annual Report on Form 10-K for reconciliations to the closest GAAP measure.        
Measure:: 2          
Pay vs Performance Disclosure          
Name Normalized Organic Gross Profit Growth        
Measure:: 3          
Pay vs Performance Disclosure          
Name Total Stockholder Return        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (7,293,000) (7,615,714) (7,952,685) (5,499,988) (4,749,989)
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,889,767) 3,661,711 9,531,543 (2,513,842) 555,167
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 3,515,200 6,179,303 11,510,186 2,646,438 3,903,559
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 (1,218,612) (2,538,597) (1,057,920) (4,334,653) (2,884,097)
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 (5,186,355) 21,005 (14,004) (825,626) (464,295)
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     906,720    
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,087,283) (1,467,194) (1,418,022) (1,034,808) (954,815)
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (4,717,483) 592,844 2,771,272 (1,264,797) (272,054)
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 392,263 1,190,464 3,083,899 443,280 784,670
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 (843,403) (672,331) (166,538) (977,999) (881,485)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       118,182  
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 (504,257) $ 74,712 (3,906) (401,234) $ (175,239)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (3,762,086)   $ (142,183) $ (447,026)