Schedule 14A


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Name

  

Maximum Outcome

of PSU Grant Date

Fair Value

 

John J. Nicols

  

$

2,427,200

 

Gordon Sangster

  

 

606,800

 

James J. Lalonde

  

 

385,400

 

Douglas T. Sheehy

  

 

606,800

 

 

(2)

The amounts reported in this column reflect bonus payments made pursuant to the Executive Incentive Compensation Plan. Please see the section “—Components of Our Executive Compensation Program—Annual Cash Compensation” above for more information.

(3)

The amount reported reflects a cell phone stipend of $1,440 and a 401(k) plan matching contribution of $10,600.

(4)

The amount reported reflects a cell phone stipend of $360 and a 401(k) plan matching contribution of $10,200.

(5)

The amount reported reflects a cell phone stipend of $600 and a 401(k) plan matching contribution of $4,875.

(6)

The amount reported reflects a cell phone stipend of $1,440 and a 401(k) plan matching contribution of $10,200.

(7)

Mr. Aldridge joined the Company as our Senior Vice President, Corporate and Strategic Development on October 16, 2016.

(8)

Mr. Sheehy resigned as Executive Vice President, Chief Administrative Officer, General Counsel and Secretary effective as of April 8, 2016.

(9)

The amount reported reflects a cell phone of $420 and a 401(k) plan matching contribution of $4,445.

 

35
Table of Contents

Grants of Plan-Based Awards in 2016 Table

All options granted to our named executive officers are nonqualified stock options. All options and PSUs granted in 2016 were issued under our 2010 Equity Incentive Award Plan, as amended.

The following table shows information regarding grants of non-equity incentive and equity incentive awards during the fiscal year ended December 31, 2016 to each of our named executive officers:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name

 

Grant

Date(1)

 

 

 

Estimated Future

Payouts Under Non-

Equity Incentive Plan

Awards(2)

 

 

Estimated Future Payouts

Under Equity Incentive Plan

Awards(3)

 

 

All Other

Stock

Awards:

Number of

Shares of

Stock or

Units

(#)(1)

 

 

All Other

Option

Awards:

Number of

Securities

Underlying

Options

(#)(1)

 

 

Exercise

or Base

Price of

Option

Awards

($/Sh)

 

 

Grant

Date Fair

Value of

Stock and

Option

Awards

($)(4)

 

 

 

 

Target

($)

 

 

Maximum

($)

 

 

Threshold

(#)

 

 

Target

(#)

 

 

Maximum

(#)

 

 

 

 

 

 

 

 

 

 

 

John J. Nicols

 

 

2/19/2016

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

211,000

 

 

 

4.10

 

 

$

486,735

 

 

 

 

 

 

 

 

 

 

 

 

457,500

 

 

 

857,813

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

 

 

 

 

 

 

2/19/2016

 

 

 

—  

 

 

 

—  

 

 

 

148,000

 

 

 

296,000

 

 

 

592,000

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

1,213,600

 

 

 

 

 

 

 

 

Gordon Sangster

 

 

2/19/2016

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

 

 

 

 

123,000

 

 

 

4.10

 

 

 

283,736

 

 

 

 

 

 

 

 

 

 

 

 

 

 

190,000

 

 

 

356,250

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

 

 

 

 

 

 

 

 

2/19/2016

 

 

 

—  

 

 

 

—  

 

 

 

37,000

 

 

 

74,000

 

 

 

148,000

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

303,400

 

 

 

 

 

 

 

 

 

 

James J. Lalonde

 

 

2/19/2016

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

77,000

 

 

 

4.10

 

 

 

177,624

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

144,000

 

 

 

270,000

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

 

 

 

 

 

 

 

 

 

 

2/19/2016

 

 

 

—  

 

 

 

—  

 

 

 

23,500

 

 

 

47,000

 

 

 

94,000

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

192,700

 

 

 

 

 

 

 

 

 

 

 

 

Michael Aldridge

 

 

10/16/2016

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

250,000

 

 

 

4.37

 

 

 

593,225

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

40,082

 

 

 

75,154

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

 

 

 

 

 

 

 

 

 

 

Douglas T. Sheehy

 

 

2/19/2016

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

123,000

 

 

 

4.10

 

 

 

283,736

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

202,500

 

 

 

379,688

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2/19/2016

 

 

 

—  

 

 

 

—  

 

 

 

37,000

 

 

 

74,000

 

 

 

148,000

 

 

 

—  

 

 

 

—  

 

 

 

—  

 

 

 

303,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

The options granted as reported in the “All Other Option Awards” column vested as to 1/4th of the shares subject to the option on the first anniversary of the date of grant and the remainder of the shares vest at a rate of 1/48th of the total shares subject to the option each month thereafter, subject to the named executive officer’s continued service to our company.

(2)

The amounts reported in the “Estimated Future Payouts Under Non-Equity Incentive Plan Awards” column relate to amounts payable under our 2016 Executive Incentive Compensation Plan. The target column assumes the achievement of both the company performance factor and the individual performance factor at the target level. The maximum column assumes the maximum achievement for both the company performance factor and individual performance factor. The actual amounts paid to our named executive officers are set forth in the section titled “—2016 Summary Compensation Table.”

(3)

The amounts reported in these columns reflect shares of our common stock issuable in respect of the PSUs granted in 2016 described above under “—Components of Our Executive Compensation Program—Equity Incentive Compensation,” which vest subject to the company’s achievement of established performance goals. The target number of shares of our common stock is equal to the number of PSUs granted; the threshold number of shares is one-half of the number of PSUs granted; and the maximum number of shares is two times the number of PSUs granted.

(4)

The amounts reported in the “Grant Date Fair Value of Stock and Option Awards” column represents the grant date fair value calculated in accordance with FASB ASC Topic 718, but excluding the impact of estimated forfeitures related to service-based vesting provisions. The valuation assumptions used in determining such amounts are described in Note 9 to our consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016. For PSUs, the amount shown is based on the probable outcome of the applicable performance goals for 2016 as of the grant date, in accordance with FASB ASC Topic 718.

 

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