Average | Value of Initial Fixed $100 | |||||||||||||||||||||||||||||
Summary | Summary | Average | Investment Based on: | |||||||||||||||||||||||||||
Summary | Compensation | Compensation | Compensation | Peer Group | ||||||||||||||||||||||||||
Compensation | Table Total | Compensation | Compensation | Table Total | Actually Paid | Total | Total | Net Income | Adjusted | |||||||||||||||||||||
Fiscal | Table Total | for Mr. | Actually Paid to | Actually Paid to | for non-PEO | to non-PEO | Shareholder | Shareholder | (Loss) | EBITDA(5) | ||||||||||||||||||||
Year | for Mr. Rossi (1) | Chowbey (1) | Mr. Rossi | Mr. Chowbey | NEOs(1) | NEOs(1)(2)(3) | Return | Return(4) | ($ millions) | ($ millions) | ||||||||||||||||||||
(a) | | (b) | | (b) | (c) | (c) | | (d) | | (e) | | (f) | | (g) | | (h) | | (i) | ||||||||||||
2026 | $ | N/A | $ | 7,356,246 | N/A | $ | 13,422,778 | 2,239,624 | $ | 3,682,722 | $ | 112.91 | $ | 240.49 | $ | 350.4 | $ | 634.0 | ||||||||||||
2025 | $ | N/A | $ | 4,694,633 | $ | N/A | $ | 4,421,080 | $ | 1,532,141 | $ | 1,294,523 | $ | 71.97 | $ | 163.81 | $ | 98.7 | $ | 299.5 | ||||||||||
2024 | $ | 6,399,926 | $ | 1,794,097 | $ | 4,127,786 | $ | 1,338,821 | $ | 1,375,327 | $ | 1,072,413 | $ | 71.39 | $ | 142.32 | $ | 109.3 | $ | 312.5 | ||||||||||
2023 | $ | 6,729,013 | $ | N/A | $ | 8,519,849 | $ | N/A | $ | 1,361,854 | $ | 1,609,461 | $ | 83.44 | $ | 119.91 | $ | 118.5 | $ | 323.0 | ||||||||||
2022 | $ | 6,131,892 | $ | N/A | $ | 2,368,850 | $ | N/A | $ | 1,464,994 | $ | 576,965 | $ | 66.26 | $ | 81.95 | $ | 144.6 | $ | 364.0 | ||||||||||
| (1) | Mr. Chowbey served as our principal executive officer (PEO) beginning on June 1, 2024. Mr. Rossi served as our (PEO) for 2022 through May 31, 2024. Our non-PEO named executive officers (NEOs) included: (a) for fiscal year 2026, Messrs. Watson, Bersaglini, and Hamadi, and Ms. Keating, (b) for fiscal year 2025, Messrs. Watson, Bersaglini, Hamadi, and Cardenas, and Ms. Keating, (c) for fiscal year 2024, Messrs. Watson and Cardenas, and Mses. Bacchus and Keating; (d) for fiscal year 2023, Messrs. Watson, Chowbey, Cardenas, and Ms. Keating; (e) for fiscal year 2022, Messrs. Audia, Chowbey, Watson, Cardenas, and Ms. Bacchus. |
| (2) | The following amounts were deducted from / added to Summary Compensation Table (SCT) total compensation in accordance with the SEC-mandated adjustments to calculate Compensation Actually Paid (CAP) to our principal executive officers (PEO) and average CAP to our non-PEO named executive officers. The fair value of equity awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards. |
Mr. Rossi SCT Total to CAP Reconciliation
Fiscal Year | | 2022 | | 2023 | | 2024 | | 2025 | | 2026 | |||||
SCT Total | $ | 6,131,892 | $ | 6,729,013 | $ | 6,399,926 | $ | — | $ | — | |||||
- Change in Actuarial Present Value of Pension Plans Reported in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
+ Service Cost of Pension in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
+ Prior Service Cost of Pension in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year | $ | (3,774,347) | $ | (4,417,134) | $ | (4,344,086) | $ | — | $ | — | |||||
± Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year | $ | 2,418,762 | $ | 4,957,682 | $ | 1,786,630 | $ | — | $ | — | |||||
— | — | ||||||||||||||
± Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years | $ | (1,719,194) | $ | 791,291 | $ | (1,115,481) | $ | — | $ | — | |||||
± Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year | $ | — | $ | — | $ | 1,783,368 | $ | — | $ | — | |||||
± Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | $ | 47,370 | $ | 220,778 | $ | (605,434) | $ | — | $ | — | |||||
- Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | $ | (886,412) | $ | — | $ | — | $ | — | $ | — | |||||
+ Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year | $ | 150,779 | $ | 238,219 | $ | 222,863 | $ | — | $ | — | |||||
Compensation Actually Paid | $ | 2,368,850 | $ | 8,519,849 | $ | 4,127,786 | $ | — | $ | — | |||||
Mr. Chowbey SCT Total to CAP Reconciliation
Fiscal Year | | 2022 | | 2023 | | 2024 | | 2025 | | 2026 | |||||
SCT Total | $ | — | $ | — | $ | 1,794,097 | $ | 4,694,633 | $ | 7,356,246 | |||||
- Change in Actuarial Present Value of Pension Plans Reported in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
+ Service Cost of Pension in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
+ Prior Service Cost of Pension in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year | $ | — | $ | — | $ | (865,913) | $ | (3,052,941) | $ | (4,776,510) | |||||
± Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year | $ | — | $ | — | $ | 683,432 | $ | 2,671,209 | $ | 9,335,918 | |||||
± Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years | $ | — | $ | — | $ | (296,905) | $ | (33,688) | $ | 1,151,657 | |||||
± Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
± Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | $ | — | $ | — | $ | (16,488) | $ | 38,086 | $ | 97,970 | |||||
- Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
+ Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year | $ | — | $ | — | $ | 40,598 | $ | 103,781 | $ | 257,497 | |||||
Compensation Actually Paid | $ | — | $ | — | $ | 1,338,821 | $ | 4,421,080 | $ | 13,422,778 | |||||
Non-PEO NEO Average SCT Total to Average CAP Reconciliation
Fiscal Year | | 2022 | | 2023 | | 2024 | | 2025 | | 2026 | |||||
Average SCT Total | $ | 1,464,994 | $ | 1,361,854 | $ | 1,375,327 | $ | 1,532,141 | $ | 2,239,624 | |||||
- Change in Actuarial Present Value of Pension Plans Reported in Fiscal Year | $ | (53,093) | $ | — | $ | (75,872) | $ | — | $ | — | |||||
+ Service Cost of Pension in Fiscal Year | $ | 35,758 | $ | — | $ | 77,227 | $ | — | $ | — | |||||
+ Prior Service Cost of Pension in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year | $ | (741,024) | $ | (585,894) | $ | (578,424) | $ | (696,041) | $ | (1,198,785) | |||||
± Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year | $ | 351,046 | $ | 656,444 | $ | 460,026 | $ | 499,290 | $ | 2,255,196 | |||||
± Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years | $ | (134,416) | $ | 94,368 | $ | (159,167) | $ | (12,298) | $ | 302,556 | |||||
± Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
± Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | $ | (3,863) | $ | 51,615 | $ | (54,770) | $ | 11,208 | $ | 20,832 | |||||
- Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | $ | (356,522) | $ | — | $ | — | $ | (63,418) | $ | — | |||||
+ Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year | $ | 14,085 | $ | 31,074 | $ | 28,066 | $ | 23,641 | $ | 63,299 | |||||
Average Compensation Actually Paid | $ | 576,965 | $ | 1,609,461 | $ | 1,072,413 | $ | 1,294,523 | $ | 3,682,722 | |||||
(3) | The Peer Group for which Total Shareholder Return is provided in column (g) is the S&P 400 Capital Goods Index. |
(4) | Adjusted EBITDA is a Non-GAAP financial measure. (see Appendix A for a reconciliation to GAAP). |
| (1) | Mr. Chowbey served as our principal executive officer (PEO) beginning on June 1, 2024. Mr. Rossi served as our (PEO) for 2022 through May 31, 2024. Our non-PEO named executive officers (NEOs) included: (a) for fiscal year 2026, Messrs. Watson, Bersaglini, and Hamadi, and Ms. Keating, (b) for fiscal year 2025, Messrs. Watson, Bersaglini, Hamadi, and Cardenas, and Ms. Keating, (c) for fiscal year 2024, Messrs. Watson and Cardenas, and Mses. Bacchus and Keating; (d) for fiscal year 2023, Messrs. Watson, Chowbey, Cardenas, and Ms. Keating; (e) for fiscal year 2022, Messrs. Audia, Chowbey, Watson, Cardenas, and Ms. Bacchus. |
(3) | The Peer Group for which Total Shareholder Return is provided in column (g) is the S&P 400 Capital Goods Index. |
Mr. Rossi SCT Total to CAP Reconciliation
Fiscal Year | | 2022 | | 2023 | | 2024 | | 2025 | | 2026 | |||||
SCT Total | $ | 6,131,892 | $ | 6,729,013 | $ | 6,399,926 | $ | — | $ | — | |||||
- Change in Actuarial Present Value of Pension Plans Reported in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
+ Service Cost of Pension in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
+ Prior Service Cost of Pension in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year | $ | (3,774,347) | $ | (4,417,134) | $ | (4,344,086) | $ | — | $ | — | |||||
± Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year | $ | 2,418,762 | $ | 4,957,682 | $ | 1,786,630 | $ | — | $ | — | |||||
— | — | ||||||||||||||
± Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years | $ | (1,719,194) | $ | 791,291 | $ | (1,115,481) | $ | — | $ | — | |||||
± Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year | $ | — | $ | — | $ | 1,783,368 | $ | — | $ | — | |||||
± Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | $ | 47,370 | $ | 220,778 | $ | (605,434) | $ | — | $ | — | |||||
- Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | $ | (886,412) | $ | — | $ | — | $ | — | $ | — | |||||
+ Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year | $ | 150,779 | $ | 238,219 | $ | 222,863 | $ | — | $ | — | |||||
Compensation Actually Paid | $ | 2,368,850 | $ | 8,519,849 | $ | 4,127,786 | $ | — | $ | — | |||||
Mr. Chowbey SCT Total to CAP Reconciliation
Fiscal Year | | 2022 | | 2023 | | 2024 | | 2025 | | 2026 | |||||
SCT Total | $ | — | $ | — | $ | 1,794,097 | $ | 4,694,633 | $ | 7,356,246 | |||||
- Change in Actuarial Present Value of Pension Plans Reported in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
+ Service Cost of Pension in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
+ Prior Service Cost of Pension in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year | $ | — | $ | — | $ | (865,913) | $ | (3,052,941) | $ | (4,776,510) | |||||
± Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year | $ | — | $ | — | $ | 683,432 | $ | 2,671,209 | $ | 9,335,918 | |||||
± Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years | $ | — | $ | — | $ | (296,905) | $ | (33,688) | $ | 1,151,657 | |||||
± Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
± Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | $ | — | $ | — | $ | (16,488) | $ | 38,086 | $ | 97,970 | |||||
- Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
+ Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year | $ | — | $ | — | $ | 40,598 | $ | 103,781 | $ | 257,497 | |||||
Compensation Actually Paid | $ | — | $ | — | $ | 1,338,821 | $ | 4,421,080 | $ | 13,422,778 | |||||
Non-PEO NEO Average SCT Total to Average CAP Reconciliation
Fiscal Year | | 2022 | | 2023 | | 2024 | | 2025 | | 2026 | |||||
Average SCT Total | $ | 1,464,994 | $ | 1,361,854 | $ | 1,375,327 | $ | 1,532,141 | $ | 2,239,624 | |||||
- Change in Actuarial Present Value of Pension Plans Reported in Fiscal Year | $ | (53,093) | $ | — | $ | (75,872) | $ | — | $ | — | |||||
+ Service Cost of Pension in Fiscal Year | $ | 35,758 | $ | — | $ | 77,227 | $ | — | $ | — | |||||
+ Prior Service Cost of Pension in Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
- Grant Date Fair Value of Stock Awards Granted in Fiscal Year | $ | (741,024) | $ | (585,894) | $ | (578,424) | $ | (696,041) | $ | (1,198,785) | |||||
± Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year | $ | 351,046 | $ | 656,444 | $ | 460,026 | $ | 499,290 | $ | 2,255,196 | |||||
± Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years | $ | (134,416) | $ | 94,368 | $ | (159,167) | $ | (12,298) | $ | 302,556 | |||||
± Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
± Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | $ | (3,863) | $ | 51,615 | $ | (54,770) | $ | 11,208 | $ | 20,832 | |||||
- Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | $ | (356,522) | $ | — | $ | — | $ | (63,418) | $ | — | |||||
+ Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year | $ | 14,085 | $ | 31,074 | $ | 28,066 | $ | 23,641 | $ | 63,299 | |||||
Average Compensation Actually Paid | $ | 576,965 | $ | 1,609,461 | $ | 1,072,413 | $ | 1,294,523 | $ | 3,682,722 | |||||
TABULAR LIST OF MOST IMPORTANT PERFORMANCE MEASURES
The six items listed below represent the most important performance metrics we used to determine CAP for Fiscal 2026 as further described in our Compensation Discussion and Analysis (CD&A).
Most Important Performance Measures |
● Adjusted EBITDA ● Primary Working Capital as a Percent of Sales ● Revenue ● Adjusted EBIT ● Adjusted EBITDA Margin ● Adjusted ROIC |