XML 41 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure - USD ($)
 2 Months Ended 6 Months Ended 10 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2024
Jun. 30, 2024
Oct. 22, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure                  
Pay vs Performance Disclosure, Table        
Pay Versus Performance
As required by SEC rules, we are providing the following information about the relationship between executive compensation actually paid to our NEOs and certain financial performance of the Company. For further information concerning the Company’s variable pay-for-performance philosophy and how the Company aligns compensation for its NEOs with the Company’s performance, refer to the Compensation Discussion and Analysis.
2024 Pay Versus Performance Table
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
(a)
 
 
Summary
Compensation
Table Total for CEO(1)
(b)
 
 
Compensation
Actually Paid
to PEO2
(c)
 
 
 
 
 
 
 
 
Value of initial
fixed $100
investment based
on:
 
 
 
 
 
Kivits
 
 
Chammas
 
 
Semach
 
 
Doheny
 
 
Kivits
 
 
Chammas
 
 
Semach
 
 
Doheny
 
 
Average
Summary
Comp.
Table
Total
for
Other
NEOs(3)
(d)
 
 
Average
Comp.
Actually
Paid
to Other
NEOs(4)
(e)
 
 
TSR(5)
(f)
 
 
Peer
Group
TSR(6)
(g)
 
 
GAAP Net
Income(7)*
(H)
 
 
Adjusted
EBITDA(8)*
(j)
 
 
2024
 
 
$12,820,613
 
 
$4,648,155
 
 
$8,052,687
 
 
—
 
 
$12,711,437
 
 
$2,929,410
 
 
$6,756,355
 
 
—
 
 
$1,622,627
 
 
$1,370,663
 
 
$92.83
 
 
$142.41
 
 
$264.7
 
 
$1,112
 
 
2023
 
 
—
 
 
$5,261,177
 
 
$4,752,205
 
 
$15,717,264
 
 
—
 
 
$4,048,401
 
 
$4,030,678
 
 
$11,457,157
 
 
$2,203,922
 
 
$1,552,751
 
 
$97.98
 
 
$132.10
 
 
$341.6
 
 
$1,095
 
 
2022
 
 
—
 
 
—
 
 
—
 
 
$10,350,942
 
 
—
 
 
—
 
 
—
 
 
($2,744,094)
 
 
$2,675,244
 
 
$1,403,983
 
 
$130.98
 
 
$111.05
 
 
$491.6
 
 
$1,232
 
 
2021
 
 
—
 
 
—
 
 
—
 
 
$9,674,692
 
 
—
 
 
—
 
 
—
 
 
$32,084,428
 
 
$1,975,384
 
 
$3,399,845
 
 
$174.73
 
 
$140.44
 
 
$506.8
 
 
$1,108
 
 
2020
 
 
—
 
 
—
 
 
—
 
 
$11,764,199
 
 
—
 
 
—
 
 
—
 
 
$19,355,234
 
 
$2,444,415
 
 
$3,211,076
 
 
$116.97
 
 
$120.46
 
 
$502.9
 
 
$1,059
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*
In millions.
1
The dollar amounts reported in column (b) for the year 2024 are the amounts of total compensation reported for Mr. Kivits (Chief Executive Officer), Mr. Chammas (Former Interim Co-CEO and current COO), and Mr. Semach (Former Interim Co-CEO and current President and CFO). For 2023 the amounts are for Mr. Chammas, Mr. Semach, and Mr. Doheny (Former CEO). For the years 2020-2022, the dollar amounts are solely for Mr. Doheny. The “Total” column of the Summary Compensation Table should reflect these amounts. Refer to “Executive Compensation-Executive Compensation Tables-2024 Summary Compensation Table.”
2
The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Mr. Kivits, Mr. Chammas, and Mr. Semach for 2024; Mr. Chammas, Mr. Semach, and Mr. Doheny for 2023 and for Mr. Doheny for the remaining years, as computed in accordance with SEC rules. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Kivits, Mr. Chammas, Mr. Semach or Mr. Doheny during the applicable year. In accordance with SEC rules, the following adjustments were made to Mr. Kivits’, Mr. Chammas’, and Mr. Semach’s total compensation for the most recent year (see our prior proxy statements for adjustments made for prior years):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
CEO
 
 
Reported
Summary
Compensation
Table Total
 
 
Minus
Reported
Value of Equity
Awards(a)
 
 
Plus
Recalculated
Value of Equity
Awards(b)
 
 
Compensation
Actually Paid
 
 
2024
 
 
Kivits
 
 
$12,820,613
 
 
$8,644,012
 
 
$8,534,836
 
 
$12,711,437
 
 
2024
 
 
Chammas
 
 
$4,648,155
 
 
$2,927,281
 
 
$1,208,536
 
 
$2,929,410
 
 
2024
 
 
Semach
 
 
$8,052,687
 
 
$5,227,285
 
 
$3,930,953
 
 
$6,756,355
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.
(b)
The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. For purposes of clause (vi) we have included the dividends accrued on unvested awards as dividends paid, although such dividends equivalents will only be paid to the extent the underlying equity award becomes vested. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in determining the recalculated value of equity awards are as follows: 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
CEO
 
 
Year End Fair
Value of
Outstanding
and Unvested
Equity
Awards
Granted in the
Year
 
 
Year over
Year Change
in Fair Value
of
Outstanding
and Unvested
Equity
Awards
 
 
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
Failed to
Meet Vesting
Conditions in
the Year
 
 
Value of
Dividends or
other Earnings
Paid on Stock
Awards not
Otherwise
Reflected in
Fair Value or
Total
Compensation
 
 
Total
Recalculated
Value of
Equity
Awards
 
 
2024
 
 
Kivits
 
 
$8,534,836
 
 
$0
 
 
—
 
 
$0
 
 
$0
 
 
$0
 
 
$8,534,836
 
 
2024
 
 
Chammas
 
 
$1,695,982
 
 
($519,105)
 
 
—
 
 
($16,064)
 
 
$0
 
 
$47,723
 
 
$1,208,536
 
 
2024
 
 
Semach
 
 
$3,562,756
 
 
$408,235
 
 
—
 
 
($54,174)
 
 
$0
 
 
$14,136
 
 
$3,930,953
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3
The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s NEOs as a group (excluding Mr.  Doheny in all years, excluding and Mr. Chammas and Mr. Semach in 2023 and 2024, and excluding Mr. Kivits in 2024) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding Mr.  Doheny in all years and excluding Mr. Chammas and Mr. Semach in 2023 and 2024, and excluding Mr. Kivits in 2024) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2024 Mr. Flannery, Mr. Racki, Ms. Johnson, Mr. Thomsen, and Mr. Grasso (ii) for 2023, Mr. Thomsen, Mr. Pupkin, Mr. Grasso, and Mr. Stephens; (iii) for 2022, Mr. Stephens, Mr. Chammas, Mr. Thomsen, and Mr. Pupkin; (iv) for 2021, Mr. Stephens, Mr. Chammas, Mr. Pupkin, Angel S. Willis, and James M. Sullivan; and (v) for 2020, Mr.  Sullivan, Mr. Chammas, Karl R. Deily, and Ms. Willis.
4
The dollar amounts reported in column (e) represent the average amount of compensation actually paid to the Company’s NEOs as a group (excluding Mr. Doheny in all years and excluding Mr. Chammas and Mr. Semach in 2023 and 2024, and excluding Mr. Kivits in 2024), as computed in accordance with SEC rules. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the Company’s NEOs as a group (excluding Mr. Doheny in all years and excluding Mr. Chammas and Mr. Semach in 2023 and 2024, and excluding Mr. Kivits in 2024) during the applicable year. In accordance with SEC rules, the following adjustments were made to average total compensation for the most recent year to determine the compensation actually paid, using the same methodology as described above in Note  2 (see our prior proxy statements for adjustments made for prior years):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
Reported
Summary
Compensation
Table Total for
other NEOs
 
 
Minus
Reported
Value of Equity
Awards for Other
NEOs(a)
 
 
Plus
Recalculated
Value of Equity
Awards for Other
NEOs(b)
 
 
Compensation
Actually Paid for
Other NEOs
 
 
2024
 
 
$1,622,627
 
 
$1,021,651
 
 
$769,687
 
 
$1,370,663
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.
(b)
The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. For purposes of clause (vi) we have included the dividends accrued on unvested awards as dividends paid, although such dividends equivalents will only be paid to the extent the underlying equity award becomes vested. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.
The amounts deducted or added in determining the recalculated value of equity awards for the most recent year are as follows (see our prior proxy statements for adjustments made for prior years):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
Year End Fair
Value of
Outstanding
and Unvested
Equity
Awards
Granted in the
Year
 
 
Year over
Year Change
in Fair Value
of
Outstanding
and Unvested
Equity
Awards
 
 
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
Failed to
Meet Vesting
Conditions in
the Year
 
 
Value of
Dividends or
other Earnings
Paid on Stock
Awards not
Otherwise
Reflected in
Fair Value or
Total
Compensation
 
 
Total
Recalculated
Value of
Equity
Awards for
other NEOs
 
 
2024
 
 
$600,364
 
 
$48,678
 
 
—
 
 
$116,625
 
 
$0
 
 
$4,020
 
 
$769,687
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5
Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, 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.
6
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 listed in the table below by year and is the same group of companies used in our Common Stock Performance Comparison graph as included in our Annual Report on the Form 10-K for the applicable year.
 
 
 
 
 
 
Year
 
 
Peer Group
 
2024
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Berry Global Group, Inc., Crown Holdings, Inc., Dover Corporation, Fortive Corporation, Graphic Packaging Holding Co., Greif, Inc.1, Minerals Technologies Inc.1, O-I Glass, Inc.1, Packaging Corporation of America, Reynolds Consumer Products Inc.1, Silgan Holdings Inc., Sonoco Products Co.
 
2023
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Berry Global Group, Inc., Celanese Corporation, Crown Holdings, Inc., Dover Corporation, Fortive Corporation, Graphic Packaging Holding Co., Packaging Corporation of America, Silgan Holdings Inc., Sonoco Products Co.
 
2022
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Berry Global Group, Inc., Celanese Corporation, Crown Holdings, Inc., Dover Corporation2, Fortive Corporation2, Graphic Packaging Holding Co., Packaging Corporation of America, Silgan Holdings Inc., Sonoco Products Co.
 
2021
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Berry Global Group, Inc., Celanese Corporation, Crown Holdings, Inc., Graphic Packaging Holding Co., Greif, Inc., HB Fuller Company3, Owens-Illinois, Inc., Packaging Corporation of America, Silgan Holdings Inc., Sonoco Products Co.
 
2020
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Bemis Company, Inc.4, Berry Global Group, Inc., Celanese Corporation, Crown Holdings, Inc., Graphic Packaging Holding Co., Greif, Inc., Maple Leaf Foods, Inc., Owens-Illinois, Inc., Packaging Corporation of America, Silgan Holdings Inc., Sonoco Products Co.
 
 
 
 
 
1
Greif, Inc., Minerals Technologies Inc., O-I Glass, Inc., and Reynolds Consumer Products Inc. replaced Celanese Corporation. If the peer group would have remained unchanged from the prior year, the resulting cumulative peer total shareholder return would have been $149.16 in 2024.
2
Dover Corporation and Fortive Corporation replaced Greif, Inc., HB Fuller Company, and Owens-Illinois, Inc. If the peer group would have remained unchanged from the prior year, the resulting cumulative peer total shareholder return would have been $112.86 in 2022.
3
HB Fuller Company replaced Maple Leaf Foods, Inc. If the peer group would have remained unchanged, the resulting cumulative peer total shareholder return would have been $139.23 in 2021 and $111.65 in 2022.
4
Bemis Company, Inc. removed due to its acquisition by Amcor Ltd.
7
The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year.
8
“Adjusted EBITDA” means our earnings before interest, taxes, depreciation and amortization, derived from our U.S. GAAP net earnings and subject to certain specified adjustments. The amounts in this table are the same amounts used each year for purposes of the Annual Incentive Plan as disclosed in the Compensation Discussion and Analysis.
       
Company Selected Measure Name         Adjusted EBITDA        
Named Executive Officers, Footnote        
1
The dollar amounts reported in column (b) for the year 2024 are the amounts of total compensation reported for Mr. Kivits (Chief Executive Officer), Mr. Chammas (Former Interim Co-CEO and current COO), and Mr. Semach (Former Interim Co-CEO and current President and CFO). For 2023 the amounts are for Mr. Chammas, Mr. Semach, and Mr. Doheny (Former CEO). For the years 2020-2022, the dollar amounts are solely for Mr. Doheny. The “Total” column of the Summary Compensation Table should reflect these amounts. Refer to “Executive Compensation-Executive Compensation Tables-2024 Summary Compensation Table.”
3
The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s NEOs as a group (excluding Mr.  Doheny in all years, excluding and Mr. Chammas and Mr. Semach in 2023 and 2024, and excluding Mr. Kivits in 2024) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding Mr.  Doheny in all years and excluding Mr. Chammas and Mr. Semach in 2023 and 2024, and excluding Mr. Kivits in 2024) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2024 Mr. Flannery, Mr. Racki, Ms. Johnson, Mr. Thomsen, and Mr. Grasso (ii) for 2023, Mr. Thomsen, Mr. Pupkin, Mr. Grasso, and Mr. Stephens; (iii) for 2022, Mr. Stephens, Mr. Chammas, Mr. Thomsen, and Mr. Pupkin; (iv) for 2021, Mr. Stephens, Mr. Chammas, Mr. Pupkin, Angel S. Willis, and James M. Sullivan; and (v) for 2020, Mr.  Sullivan, Mr. Chammas, Karl R. Deily, and Ms. Willis.
       
Peer Group Issuers, Footnote        
6
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 listed in the table below by year and is the same group of companies used in our Common Stock Performance Comparison graph as included in our Annual Report on the Form 10-K for the applicable year.
 
 
 
 
 
 
Year
 
 
Peer Group
 
2024
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Berry Global Group, Inc., Crown Holdings, Inc., Dover Corporation, Fortive Corporation, Graphic Packaging Holding Co., Greif, Inc.1, Minerals Technologies Inc.1, O-I Glass, Inc.1, Packaging Corporation of America, Reynolds Consumer Products Inc.1, Silgan Holdings Inc., Sonoco Products Co.
 
2023
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Berry Global Group, Inc., Celanese Corporation, Crown Holdings, Inc., Dover Corporation, Fortive Corporation, Graphic Packaging Holding Co., Packaging Corporation of America, Silgan Holdings Inc., Sonoco Products Co.
 
2022
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Berry Global Group, Inc., Celanese Corporation, Crown Holdings, Inc., Dover Corporation2, Fortive Corporation2, Graphic Packaging Holding Co., Packaging Corporation of America, Silgan Holdings Inc., Sonoco Products Co.
 
2021
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Berry Global Group, Inc., Celanese Corporation, Crown Holdings, Inc., Graphic Packaging Holding Co., Greif, Inc., HB Fuller Company3, Owens-Illinois, Inc., Packaging Corporation of America, Silgan Holdings Inc., Sonoco Products Co.
 
2020
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Bemis Company, Inc.4, Berry Global Group, Inc., Celanese Corporation, Crown Holdings, Inc., Graphic Packaging Holding Co., Greif, Inc., Maple Leaf Foods, Inc., Owens-Illinois, Inc., Packaging Corporation of America, Silgan Holdings Inc., Sonoco Products Co.
 
 
 
 
 
1
Greif, Inc., Minerals Technologies Inc., O-I Glass, Inc., and Reynolds Consumer Products Inc. replaced Celanese Corporation. If the peer group would have remained unchanged from the prior year, the resulting cumulative peer total shareholder return would have been $149.16 in 2024.
2
Dover Corporation and Fortive Corporation replaced Greif, Inc., HB Fuller Company, and Owens-Illinois, Inc. If the peer group would have remained unchanged from the prior year, the resulting cumulative peer total shareholder return would have been $112.86 in 2022.
3
HB Fuller Company replaced Maple Leaf Foods, Inc. If the peer group would have remained unchanged, the resulting cumulative peer total shareholder return would have been $139.23 in 2021 and $111.65 in 2022.
4
Bemis Company, Inc. removed due to its acquisition by Amcor Ltd.
        
Changed Peer Group, Footnote        
6
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 listed in the table below by year and is the same group of companies used in our Common Stock Performance Comparison graph as included in our Annual Report on the Form 10-K for the applicable year.
 
 
 
 
 
 
Year
 
 
Peer Group
 
2024
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Berry Global Group, Inc., Crown Holdings, Inc., Dover Corporation, Fortive Corporation, Graphic Packaging Holding Co., Greif, Inc.1, Minerals Technologies Inc.1, O-I Glass, Inc.1, Packaging Corporation of America, Reynolds Consumer Products Inc.1, Silgan Holdings Inc., Sonoco Products Co.
 
2023
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Berry Global Group, Inc., Celanese Corporation, Crown Holdings, Inc., Dover Corporation, Fortive Corporation, Graphic Packaging Holding Co., Packaging Corporation of America, Silgan Holdings Inc., Sonoco Products Co.
 
2022
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Berry Global Group, Inc., Celanese Corporation, Crown Holdings, Inc., Dover Corporation2, Fortive Corporation2, Graphic Packaging Holding Co., Packaging Corporation of America, Silgan Holdings Inc., Sonoco Products Co.
 
2021
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Berry Global Group, Inc., Celanese Corporation, Crown Holdings, Inc., Graphic Packaging Holding Co., Greif, Inc., HB Fuller Company3, Owens-Illinois, Inc., Packaging Corporation of America, Silgan Holdings Inc., Sonoco Products Co.
 
2020
 
 
AptarGroup, Inc., Ashland Global Holdings Inc., Avery Dennison Corporation, Avient Corporation, Axalta Coating Systems Ltd., Ball Corporation, Bemis Company, Inc.4, Berry Global Group, Inc., Celanese Corporation, Crown Holdings, Inc., Graphic Packaging Holding Co., Greif, Inc., Maple Leaf Foods, Inc., Owens-Illinois, Inc., Packaging Corporation of America, Silgan Holdings Inc., Sonoco Products Co.
 
 
 
 
 
1
Greif, Inc., Minerals Technologies Inc., O-I Glass, Inc., and Reynolds Consumer Products Inc. replaced Celanese Corporation. If the peer group would have remained unchanged from the prior year, the resulting cumulative peer total shareholder return would have been $149.16 in 2024.
2
Dover Corporation and Fortive Corporation replaced Greif, Inc., HB Fuller Company, and Owens-Illinois, Inc. If the peer group would have remained unchanged from the prior year, the resulting cumulative peer total shareholder return would have been $112.86 in 2022.
3
HB Fuller Company replaced Maple Leaf Foods, Inc. If the peer group would have remained unchanged, the resulting cumulative peer total shareholder return would have been $139.23 in 2021 and $111.65 in 2022.
4
Bemis Company, Inc. removed due to its acquisition by Amcor Ltd.
        
Adjustment To PEO Compensation, Footnote        
2
The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Mr. Kivits, Mr. Chammas, and Mr. Semach for 2024; Mr. Chammas, Mr. Semach, and Mr. Doheny for 2023 and for Mr. Doheny for the remaining years, as computed in accordance with SEC rules. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Kivits, Mr. Chammas, Mr. Semach or Mr. Doheny during the applicable year. In accordance with SEC rules, the following adjustments were made to Mr. Kivits’, Mr. Chammas’, and Mr. Semach’s total compensation for the most recent year (see our prior proxy statements for adjustments made for prior years):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
CEO
 
 
Reported
Summary
Compensation
Table Total
 
 
Minus
Reported
Value of Equity
Awards(a)
 
 
Plus
Recalculated
Value of Equity
Awards(b)
 
 
Compensation
Actually Paid
 
 
2024
 
 
Kivits
 
 
$12,820,613
 
 
$8,644,012
 
 
$8,534,836
 
 
$12,711,437
 
 
2024
 
 
Chammas
 
 
$4,648,155
 
 
$2,927,281
 
 
$1,208,536
 
 
$2,929,410
 
 
2024
 
 
Semach
 
 
$8,052,687
 
 
$5,227,285
 
 
$3,930,953
 
 
$6,756,355
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.
(b)
The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. For purposes of clause (vi) we have included the dividends accrued on unvested awards as dividends paid, although such dividends equivalents will only be paid to the extent the underlying equity award becomes vested. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in determining the recalculated value of equity awards are as follows: 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
CEO
 
 
Year End Fair
Value of
Outstanding
and Unvested
Equity
Awards
Granted in the
Year
 
 
Year over
Year Change
in Fair Value
of
Outstanding
and Unvested
Equity
Awards
 
 
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
Failed to
Meet Vesting
Conditions in
the Year
 
 
Value of
Dividends or
other Earnings
Paid on Stock
Awards not
Otherwise
Reflected in
Fair Value or
Total
Compensation
 
 
Total
Recalculated
Value of
Equity
Awards
 
 
2024
 
 
Kivits
 
 
$8,534,836
 
 
$0
 
 
—
 
 
$0
 
 
$0
 
 
$0
 
 
$8,534,836
 
 
2024
 
 
Chammas
 
 
$1,695,982
 
 
($519,105)
 
 
—
 
 
($16,064)
 
 
$0
 
 
$47,723
 
 
$1,208,536
 
 
2024
 
 
Semach
 
 
$3,562,756
 
 
$408,235
 
 
—
 
 
($54,174)
 
 
$0
 
 
$14,136
 
 
$3,930,953
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
        
Non-PEO NEO Average Total Compensation Amount         $ 1,622,627 $ 2,203,922 $ 2,675,244 $ 1,975,384 $ 2,444,415
Non-PEO NEO Average Compensation Actually Paid Amount         $ 1,370,663 1,552,751 1,403,983 3,399,845 3,211,076
Adjustment to Non-PEO NEO Compensation Footnote        
4
The dollar amounts reported in column (e) represent the average amount of compensation actually paid to the Company’s NEOs as a group (excluding Mr. Doheny in all years and excluding Mr. Chammas and Mr. Semach in 2023 and 2024, and excluding Mr. Kivits in 2024), as computed in accordance with SEC rules. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the Company’s NEOs as a group (excluding Mr. Doheny in all years and excluding Mr. Chammas and Mr. Semach in 2023 and 2024, and excluding Mr. Kivits in 2024) during the applicable year. In accordance with SEC rules, the following adjustments were made to average total compensation for the most recent year to determine the compensation actually paid, using the same methodology as described above in Note  2 (see our prior proxy statements for adjustments made for prior years):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
Reported
Summary
Compensation
Table Total for
other NEOs
 
 
Minus
Reported
Value of Equity
Awards for Other
NEOs(a)
 
 
Plus
Recalculated
Value of Equity
Awards for Other
NEOs(b)
 
 
Compensation
Actually Paid for
Other NEOs
 
 
2024
 
 
$1,622,627
 
 
$1,021,651
 
 
$769,687
 
 
$1,370,663
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.
(b)
The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. For purposes of clause (vi) we have included the dividends accrued on unvested awards as dividends paid, although such dividends equivalents will only be paid to the extent the underlying equity award becomes vested. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.
The amounts deducted or added in determining the recalculated value of equity awards for the most recent year are as follows (see our prior proxy statements for adjustments made for prior years):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
Year End Fair
Value of
Outstanding
and Unvested
Equity
Awards
Granted in the
Year
 
 
Year over
Year Change
in Fair Value
of
Outstanding
and Unvested
Equity
Awards
 
 
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
Failed to
Meet Vesting
Conditions in
the Year
 
 
Value of
Dividends or
other Earnings
Paid on Stock
Awards not
Otherwise
Reflected in
Fair Value or
Total
Compensation
 
 
Total
Recalculated
Value of
Equity
Awards for
other NEOs
 
 
2024
 
 
$600,364
 
 
$48,678
 
 
—
 
 
$116,625
 
 
$0
 
 
$4,020
 
 
$769,687
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
        
Compensation Actually Paid vs. Total Shareholder Return        
Compensation Actually Paid and Cumulative TSR
The following graph illustrates the compensation actually paid to Mr. Kivits, Mr. Chammas, Mr. Semach, and Mr. Doheny and the average of the other NEOs against the cumulative total shareholder return of the Company and its selected peer group.
       
Compensation Actually Paid vs. Net Income        
Compensation Actually Paid and Net Income
The following graph illustrates the compensation actually paid to Mr. Kivits, Mr.  Chammas, Mr.  Semach, and Mr.  Doheny and the average of the other NEOs against the Company’s net income over the five years presented in the table.
        
Compensation Actually Paid vs. Company Selected Measure        
Compensation Actually Paid and Adjusted EBITDA
The following graph illustrates the compensation actually paid to Mr. Kivits, Mr.  Chammas, Mr.  Semach, and Mr.  Doheny and the average of the other NEOs against the Company’s Adjusted EBITDA over the five years presented in the table.
        
Total Shareholder Return Vs Peer Group        
Compensation Actually Paid and Cumulative TSR
The following graph illustrates the compensation actually paid to Mr. Kivits, Mr. Chammas, Mr. Semach, and Mr. Doheny and the average of the other NEOs against the cumulative total shareholder return of the Company and its selected peer group.
       
Tabular List, Table        
Most Important Performance Measures for 2024
As described in greater detail in the Compensation Discussion and Analysis, the Company’s executive compensation program includes linking pay of our NEOs to strategic business, operational, and financial goals for both annual and long-term incentive awards. For the last fiscal year, the most important financial performance measures used by the Company to link executive compensation actually paid to the NEOs, for the most recently completed fiscal year, to the Company’s performance are as follows:
•
Adjusted EBITDA
•
Net Sales
•
Free Cash Flow
•
Adjusted EBITDA CAGR
•
Return on Invested Capital
       
Total Shareholder Return Amount         $ 92.83 97.98 130.98 174.73 116.97
Peer Group Total Shareholder Return Amount         142.41 132.1 111.05 140.44 120.46
Net Income (Loss)         $ 264,700,000 $ 341,600,000 $ 491,600,000 $ 506,800,000 $ 502,900,000
Company Selected Measure Amount         1,112,000,000 1,095,000,000 1,232,000,000 1,108,000,000 1,059,000,000
PEO Name       Mr. Doheny     Mr. Doheny Mr. Doheny Mr. Doheny
Equity Awards Adjustments, Footnote        
(b)
The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. For purposes of clause (vi) we have included the dividends accrued on unvested awards as dividends paid, although such dividends equivalents will only be paid to the extent the underlying equity award becomes vested. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in determining the recalculated value of equity awards are as follows: 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
CEO
 
 
Year End Fair
Value of
Outstanding
and Unvested
Equity
Awards
Granted in the
Year
 
 
Year over
Year Change
in Fair Value
of
Outstanding
and Unvested
Equity
Awards
 
 
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
Failed to
Meet Vesting
Conditions in
the Year
 
 
Value of
Dividends or
other Earnings
Paid on Stock
Awards not
Otherwise
Reflected in
Fair Value or
Total
Compensation
 
 
Total
Recalculated
Value of
Equity
Awards
 
 
2024
 
 
Kivits
 
 
$8,534,836
 
 
$0
 
 
—
 
 
$0
 
 
$0
 
 
$0
 
 
$8,534,836
 
 
2024
 
 
Chammas
 
 
$1,695,982
 
 
($519,105)
 
 
—
 
 
($16,064)
 
 
$0
 
 
$47,723
 
 
$1,208,536
 
 
2024
 
 
Semach
 
 
$3,562,756
 
 
$408,235
 
 
—
 
 
($54,174)
 
 
$0
 
 
$14,136
 
 
$3,930,953
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(b)
The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. For purposes of clause (vi) we have included the dividends accrued on unvested awards as dividends paid, although such dividends equivalents will only be paid to the extent the underlying equity award becomes vested. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.
The amounts deducted or added in determining the recalculated value of equity awards for the most recent year are as follows (see our prior proxy statements for adjustments made for prior years):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year
 
 
Year End Fair
Value of
Outstanding
and Unvested
Equity
Awards
Granted in the
Year
 
 
Year over
Year Change
in Fair Value
of
Outstanding
and Unvested
Equity
Awards
 
 
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
Failed to
Meet Vesting
Conditions in
the Year
 
 
Value of
Dividends or
other Earnings
Paid on Stock
Awards not
Otherwise
Reflected in
Fair Value or
Total
Compensation
 
 
Total
Recalculated
Value of
Equity
Awards for
other NEOs
 
 
2024
 
 
$600,364
 
 
$48,678
 
 
—
 
 
$116,625
 
 
$0
 
 
$4,020
 
 
$769,687
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
        
Peer Group Total Shareholder Return Amount Using Previous Peer Group         $ 149.16   $ 112.86    
Peer Group Total Shareholder Return Amount Using Previous Peer Group Two             111.65 $ 139.23  
Measure:: 1                  
Pay vs Performance Disclosure                  
Name         Adjusted EBITDA        
Non-GAAP Measure Description        
8
“Adjusted EBITDA” means our earnings before interest, taxes, depreciation and amortization, derived from our U.S. GAAP net earnings and subject to certain specified adjustments. The amounts in this table are the same amounts used each year for purposes of the Annual Incentive Plan as disclosed in the Compensation Discussion and Analysis.
       
Measure:: 2                  
Pay vs Performance Disclosure                  
Name         Net Sales        
Measure:: 3                  
Pay vs Performance Disclosure                  
Name         Free Cash Flow        
Measure:: 4                  
Pay vs Performance Disclosure                  
Name         Adjusted EBITDA CAGR        
Measure:: 5                  
Pay vs Performance Disclosure                  
Name         Return on Invested Capital        
Mr. Kivits [Member]                  
Pay vs Performance Disclosure                  
PEO Total Compensation Amount         $ 12,820,613 $ 0 0 0 $ 0
PEO Actually Paid Compensation Amount         12,711,437 0 0 0 0
PEO Name   Mr. Kivits              
Mr. Chammas [Member]                  
Pay vs Performance Disclosure                  
PEO Total Compensation Amount         4,648,155 5,261,177 0 0 0
PEO Actually Paid Compensation Amount         2,929,410 4,048,401 0 0 0
PEO Name Mr. Chammas   Mr. Chammas            
Mr. Semach [Member]                  
Pay vs Performance Disclosure                  
PEO Total Compensation Amount         8,052,687 4,752,205 0 0 0
PEO Actually Paid Compensation Amount         6,756,355 4,030,678 0 0 0
PEO Name Mr. Semach   Mr. Semach            
Mr. Doheny [Member]                  
Pay vs Performance Disclosure                  
PEO Total Compensation Amount         0 15,717,264 10,350,942 9,674,692 11,764,199
PEO Actually Paid Compensation Amount         0 $ 11,457,157 $ (2,744,094) $ 32,084,428 $ 19,355,234
PEO | Mr. Kivits [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         (8,644,012)        
PEO | Mr. Kivits [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         8,534,836        
PEO | Mr. Kivits [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         8,534,836        
PEO | Mr. Kivits [Member] | 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         0        
PEO | Mr. Kivits [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         0        
PEO | Mr. Kivits [Member] | 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         0        
PEO | Mr. Kivits [Member] | 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         0        
PEO | Mr. Kivits [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         0        
PEO | Mr. Chammas [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         (2,927,281)        
PEO | Mr. Chammas [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         1,208,536        
PEO | Mr. Chammas [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         1,695,982        
PEO | Mr. Chammas [Member] | 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         (519,105)        
PEO | Mr. Chammas [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         0        
PEO | Mr. Chammas [Member] | 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         (16,064)        
PEO | Mr. Chammas [Member] | 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         0        
PEO | Mr. Chammas [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         47,723        
PEO | Mr. Semach [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         (5,227,285)        
PEO | Mr. Semach [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         3,930,953        
PEO | Mr. Semach [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         3,562,756        
PEO | Mr. Semach [Member] | 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         408,235        
PEO | Mr. Semach [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         0        
PEO | Mr. Semach [Member] | 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         (54,174)        
PEO | Mr. Semach [Member] | 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         0        
PEO | Mr. Semach [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         14,136        
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         (1,021,651)        
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         769,687        
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         600,364        
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         48,678        
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         0        
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         116,625        
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         0        
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year                  
Pay vs Performance Disclosure                  
Adjustment to Compensation, Amount         $ 4,020