XML 57 R3.htm IDEA: XBRL DOCUMENT v3.26.1
Award Timing Disclosure
12 Months Ended
Dec. 31, 2025
USD ($)
shares
$ / shares
Award Timing Disclosures [Line Items]  
Award Timing MNPI Disclosure

Grant Practices. The annual long-term incentive award grant date occurs on the first trading day of March. Grants to new employees are effective on the date the employee commences employment, and one-time grants made to employees at times other than the time of the annual grant are effective on the tenth trading day of the month following approval of the grant. The per share exercise price of stock options is equal to the closing price of a share of our common stock on the date of grant. Grants of long-term incentive awards made to our executive officers must be approved by the Committee. The Committee approves and grants annual incentive awards, including options, at approximately the same time every year. Outside of the annual grant cycle, the Committee may, from time to time, grant one-time equity awards, such as in connection with a new hire. In October 2024, the Committee approved shifting the grant date for off cycle awards from the first trading day of the month to the tenth trading day of the month, except for the month of February when off cycle awards will be granted on the first trading day of March. However, the Committee retains discretion to determine the final grant dates utilized for any such one-time equity awards, taking into account all relevant factors. It is the Company’s policy, and the Committee’s practice, that long-term incentive awards, including options, should be made, to the extent possible and subject to adjustment by the Committee, when all material nonpublic information regarding the Company or its securities has been sufficiently publicly disclosed and that the disclosure of material nonpublic information is not timed for the purpose of affecting the value of long-term incentive awards or executive compensation. We set a schedule in advance for when grants will be made that are set to occur during the Company’s regular open trading windows. We believe that our grant practices are appropriate and eliminate any questions regarding “timing” of grants in anticipation of material events, since grants become effective in accordance with a long-standing schedule.

Award Timing Method The annual long-term incentive award grant date occurs on the first trading day of March. Grants to new employees are effective on the date the employee commences employment, and one-time grants made to employees at times other than the time of the annual grant are effective on the tenth trading day of the month following approval of the grant.The Committee approves and grants annual incentive awards, including options, at approximately the same time every year. Outside of the annual grant cycle, the Committee may, from time to time, grant one-time equity awards, such as in connection with a new hire. In October 2024, the Committee approved shifting the grant date for off cycle awards from the first trading day of the month to the tenth trading day of the month, except for the month of February when off cycle awards will be granted on the first trading day of March.
Award Timing Predetermined true
Award Timing MNPI Considered false
MNPI Disclosure Timed for Compensation Value false
Awards Close in Time to MNPI Disclosures, Table

The following table provides information regarding plan-based awards granted to our named executive officers in 2025.

 

 

 

Estimated Possible
Payouts Under Non-Equity
Incentive Plan Awards
(3)

 

Estimated Possible
Payouts Under Equity
Incentive Plan Awards
(4)

 

 

 

 

 

 

 

 

 

Name

Grant
Date
(1)

Approval
Date
(1)

Threshold
($)
(2)

Target
(at 1.0
rating)
($)

 

Maximum
($)

 

Threshold
(#)
(2)

Target
(at 1.0
rating)
(#)

 

Maximum
(#)

 

All Other
Stock
Awards:
Number of
Shares of
Stock or
Units
(#)
(5)

 

All Other
Option
Awards:
Number of
Securities
Underlying
Options
(#)
(6)

 

Exercise
or
Base
Price
of Option
Awards
($ / Sh)

 

Grant Date
Fair Value
of Stock
and Option
Awards
($)
(7)

 

Richard A. Dierker

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Annual Incentive Plan

 

 

 

1,233,200

 

 

2,281,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Options

3/3/2025

1/29/2025

 

 

 

 

 

 

 

 

 

 

 

 

 

158,600

 

$

112.06

 

 

5,313,100

 

Restricted Stock Units

3/3/2025

1/29/2025

 

 

 

 

 

 

 

 

 

 

 

6,320

 

 

 

 

 

 

708,219

 

Performance Stock Units

3/3/2025

1/29/2025

 

 

 

 

 

 

7,700

 

 

15,400

 

 

 

 

 

 

 

 

1,062,754

 

Matthew T. Farrell

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Annual Incentive Plan

 

 

 

472,000

 

 

873,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Options

3/3/2025

1/29/2025

 

 

 

 

 

 

 

 

 

 

 

 

 

45,110

 

$

112.06

 

 

1,511,185

 

Restricted Stock Units

3/3/2025

1/29/2025

 

 

 

 

 

 

 

 

 

 

 

1,800

 

 

 

 

 

 

201,708

 

Performance Stock Units

3/3/2025

1/29/2025

 

 

 

 

 

 

2,190

 

 

4,380

 

 

 

 

 

 

 

 

302,264

 

Lee B. McChesney

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Annual Incentive Plan

 

 

 

459,800

 

 

850,600

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Options

3/24/2025

2/20/2025

 

 

 

 

 

 

 

 

 

 

 

 

 

40,500

 

$

106.90

 

 

1,286,280

 

Restricted Stock Units

3/24/2025

2/20/2025

 

 

 

 

 

 

 

 

 

 

 

22,180

 

 

 

 

 

 

2,371,042

 

Performance Stock Units

3/24/2025

2/20/2025

 

 

 

 

 

 

2,030

 

 

4,060

 

 

 

 

 

 

 

 

257,363

 

Charles R. Raup

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Annual Incentive Plan

 

 

 

306,500

 

 

567,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Options

6/25/2025

6/5/2025

 

 

 

 

 

 

 

 

 

 

 

 

 

31,040

 

$

95.25

 

 

857,635

 

Restricted Stock Units

6/25/2025

6/5/2025

 

 

 

 

 

 

 

 

 

 

 

9,000

 

 

 

 

 

 

857,250

 

Performance Stock Units

6/25/2025

6/5/2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Patrick D. de Maynadier

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Annual Incentive Plan

 

 

 

359,800

 

 

665,600

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Options

3/3/2025

1/29/2025

 

 

 

 

 

 

 

 

 

 

 

 

 

21,240

 

$

112.06

 

 

711,540

 

Restricted Stock Units

3/3/2025

1/29/2025

 

 

 

 

 

 

 

 

 

 

 

850

 

 

 

 

 

 

95,251

 

Performance Stock Units

3/3/2025

1/29/2025

 

 

 

 

 

 

1,030

 

 

2,060

 

 

 

 

 

 

 

 

142,161

 

Michael G. Read(8)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Annual Incentive Plan

 

 

 

364,400

 

 

674,200

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Options

3/3/2025

1/29/2025

 

 

 

 

 

 

 

 

 

 

 

 

 

17,280

 

$

112.06

 

 

578,880

 

Restricted Stock Units

3/3/2025

1/29/2025

 

 

 

 

 

 

 

 

 

 

 

690

 

 

 

 

 

 

77,321

 

Performance Stock Units

3/3/2025

1/29/2025

 

 

 

 

 

 

840

 

 

1,680

 

 

 

 

 

 

 

 

115,937

 

 

(1)
For information regarding the timing of Long-Term Incentive grants, see “Compensation Discussion and Analysis—Long-Term Incentive Grant Practices.”
(2)
There is no specified minimum award payout.
(3)
Constitutes target and maximum award opportunities for our named executives under our Annual Incentive Plan. See “Compensation Discussion and Analysis—2025 Compensation—Annual Incentive Plan” for information regarding the criteria applied in determining the amounts payable under the awards. The actual amounts paid with respect to these awards are included in the “Non-Equity Incentive Plan Compensation” column in the “2025 Summary Compensation Table”.
(4)
Constitutes the performance stock units target and maximum award opportunities for our named executive officers.
(5)
These amounts include restricted stock units granted on March 3, 2025 for Messrs. Farrell, Dierker, de Maynadier, and Read, March 24, 2025 for Mr. McChesney, and June 25, 2025 for Mr. Raup.
(6)
The amounts shown in this column represent the shares of our common stock underlying options granted under the Omnibus Equity Compensation Plan in 2025. All options were granted with an exercise price per share equal to the closing price per share as reported on the NYSE on the date of grant. The options vest as to all underlying shares on the third anniversary of the date of grant and terminate ten years from the date of grant, subject to earlier termination upon the occurrence of specified events. All stock options granted on or after July 20, 2019, require a “double trigger” before payment can be made or equity can vest (requiring a qualifying termination following a change in control).
(7)
The grant date fair value is computed in accordance with ASC Topic 718. The assumptions used in determining the amounts in this column are set forth in note 12 to our consolidated financial statements in our Annual Report Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on February 12, 2026.
(8)
The dollar figures have been converted to USD using the CAD Conversion Rate, as applicable.
Richard A. Dierker  
Awards Close in Time to MNPI Disclosures  
Name Richard A. Dierker
Richard A. Dierker | Employee Stock Option  
Awards Close in Time to MNPI Disclosures  
Underlying Securities | shares 158,600
Exercise Price | $ / shares $ 112.06
Fair Value as of Grant Date $ 5,313,100
Richard A. Dierker | Annual Incentive Plan  
Awards Close in Time to MNPI Disclosures  
Non Equity Incentive Plan Awards Threshold 0
Non Equity Incentive Plan Awards Target 1,233,200
Non Equity Incentive Plan Awards Maximum 2,281,500
Richard A. Dierker | Performance Stock Units  
Awards Close in Time to MNPI Disclosures  
Equity Incentive Plan Awards Threshold 0
Equity Incentive Plan Awards Target 7,700
Equity Incentive Plan Awards Maximum 15,400
Richard A. Dierker | Restricted Stock Units  
Awards Close in Time to MNPI Disclosures  
Fair Value as of Grant Date $ 708,219
Stock Awards Number of Shares | shares 6,320
Matthew T. Farrell  
Awards Close in Time to MNPI Disclosures  
Name Matthew T. Farrell
Matthew T. Farrell | Employee Stock Option  
Awards Close in Time to MNPI Disclosures  
Underlying Securities | shares 45,110
Exercise Price | $ / shares $ 112.06
Fair Value as of Grant Date $ 1,511,185
Matthew T. Farrell | Annual Incentive Plan  
Awards Close in Time to MNPI Disclosures  
Non Equity Incentive Plan Awards Threshold 0
Non Equity Incentive Plan Awards Target 472,000
Non Equity Incentive Plan Awards Maximum 873,300
Matthew T. Farrell | Performance Stock Units  
Awards Close in Time to MNPI Disclosures  
Fair Value as of Grant Date 302,264
Equity Incentive Plan Awards Threshold 0
Equity Incentive Plan Awards Target 2,190
Equity Incentive Plan Awards Maximum 4,380
Matthew T. Farrell | Restricted Stock Units  
Awards Close in Time to MNPI Disclosures  
Fair Value as of Grant Date $ 201,708
Stock Awards Number of Shares | shares 1,800
Michael G. Read  
Awards Close in Time to MNPI Disclosures  
Name Michael G. Read
Michael G. Read | Employee Stock Option  
Awards Close in Time to MNPI Disclosures  
Underlying Securities | shares 17,280
Exercise Price | $ / shares $ 112.06
Fair Value as of Grant Date $ 578,880
Michael G. Read | Annual Incentive Plan  
Awards Close in Time to MNPI Disclosures  
Non Equity Incentive Plan Awards Threshold 0
Non Equity Incentive Plan Awards Target 364,400
Non Equity Incentive Plan Awards Maximum 674,200
Michael G. Read | Performance Stock Units  
Awards Close in Time to MNPI Disclosures  
Fair Value as of Grant Date 115,937
Equity Incentive Plan Awards Threshold 0
Equity Incentive Plan Awards Target 840
Equity Incentive Plan Awards Maximum 1,680
Michael G. Read | Restricted Stock Units  
Awards Close in Time to MNPI Disclosures  
Fair Value as of Grant Date $ 77,321
Stock Awards Number of Shares | shares 690
Patrick D. de Maynadier  
Awards Close in Time to MNPI Disclosures  
Name Patrick D. de Maynadier
Patrick D. de Maynadier | Employee Stock Option  
Awards Close in Time to MNPI Disclosures  
Underlying Securities | shares 21,240
Exercise Price | $ / shares $ 112.06
Fair Value as of Grant Date $ 711,540
Patrick D. de Maynadier | Annual Incentive Plan  
Awards Close in Time to MNPI Disclosures  
Non Equity Incentive Plan Awards Threshold 0
Non Equity Incentive Plan Awards Target 359,800
Non Equity Incentive Plan Awards Maximum 665,600
Patrick D. de Maynadier | Performance Stock Units  
Awards Close in Time to MNPI Disclosures  
Fair Value as of Grant Date 142,161
Equity Incentive Plan Awards Threshold 0
Equity Incentive Plan Awards Target 1,030
Equity Incentive Plan Awards Maximum 2,060
Patrick D. de Maynadier | Restricted Stock Units  
Awards Close in Time to MNPI Disclosures  
Fair Value as of Grant Date $ 95,251
Stock Awards Number of Shares | shares 850
Charles R. Raup  
Awards Close in Time to MNPI Disclosures  
Name Charles R. Raup
Charles R. Raup | Employee Stock Option  
Awards Close in Time to MNPI Disclosures  
Underlying Securities | shares 31,040
Exercise Price | $ / shares $ 95.25
Fair Value as of Grant Date $ 857,635
Charles R. Raup | Annual Incentive Plan  
Awards Close in Time to MNPI Disclosures  
Non Equity Incentive Plan Awards Threshold 0
Non Equity Incentive Plan Awards Target 306,500
Non Equity Incentive Plan Awards Maximum 567,100
Charles R. Raup | Performance Stock Units  
Awards Close in Time to MNPI Disclosures  
Equity Incentive Plan Awards Threshold 0
Equity Incentive Plan Awards Target 0
Equity Incentive Plan Awards Maximum 0
Charles R. Raup | Restricted Stock Units  
Awards Close in Time to MNPI Disclosures  
Fair Value as of Grant Date $ 857,250
Stock Awards Number of Shares | shares 9,000
Lee B. McChesney  
Awards Close in Time to MNPI Disclosures  
Name Lee B. McChesney
Lee B. McChesney | Employee Stock Option  
Awards Close in Time to MNPI Disclosures  
Underlying Securities | shares 40,500
Exercise Price | $ / shares $ 106.9
Fair Value as of Grant Date $ 1,286,280
Lee B. McChesney | Annual Incentive Plan  
Awards Close in Time to MNPI Disclosures  
Non Equity Incentive Plan Awards Threshold 0
Non Equity Incentive Plan Awards Target 459,800
Non Equity Incentive Plan Awards Maximum 850,600
Lee B. McChesney | Performance Stock Units  
Awards Close in Time to MNPI Disclosures  
Fair Value as of Grant Date 257,363
Equity Incentive Plan Awards Threshold 0
Equity Incentive Plan Awards Target 2,030
Equity Incentive Plan Awards Maximum $ 4,060