<SEC-DOCUMENT>0001050797-21-000037.txt : 20210528
<SEC-HEADER>0001050797-21-000037.hdr.sgml : 20210528
<ACCEPTANCE-DATETIME>20210528160718
ACCESSION NUMBER:		0001050797-21-000037
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210528
DATE AS OF CHANGE:		20210528

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COLUMBIA SPORTSWEAR CO
		CENTRAL INDEX KEY:			0001050797
		STANDARD INDUSTRIAL CLASSIFICATION:	APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300]
		IRS NUMBER:				930498284
		STATE OF INCORPORATION:			OR
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23939
		FILM NUMBER:		21980190

	BUSINESS ADDRESS:	
		STREET 1:		14375 NW SCIENCE PARK DRIVE
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97229
		BUSINESS PHONE:		503 985 4000

	MAIL ADDRESS:	
		STREET 1:		14375 NW SCIENCE PARK DRIVE
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97229
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>colm2021proxydefa14a-defin.htm
<DESCRIPTION>DEFA14A
<TEXT>
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<title>Document</title></head><body><div id="i91a998becea44e4c8d63f46d727ef01c_1"></div><div style="min-height:9pt;width:100%"><div><font><br></font></div></div><div style="margin-top:4pt;text-align:center"><font><br></font></div><div style="margin-top:4pt;text-align:center"><font><br></font></div><div style="margin-top:4pt;text-align:center"><font><br></font></div><div style="margin-top:4pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">UNITED STATES</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Washington, D.C. 20549</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:16pt;font-weight:700;line-height:120%">SCHEDULE 14A INFORMATION</font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Proxy Statement Pursuant to Section&#160;14(a) of the</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Securities Exchange Act of 1934</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">(Amendment No. 1)</font></div><div style="text-align:center"><font><br></font></div><div style="margin-top:6pt;text-indent:49.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#9745; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Filed by the Registrant&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#9744; </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Filed by a Party other than the Registrant</font></div><div style="margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:80.701%"><tr><td style="width:1.0%"></td><td style="width:11.762%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:86.038%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cceeff;border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Check the appropriate box&#58;</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;</font></td><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Preliminary Proxy Statement</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;</font></td><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Confidential, for Use of the Commission Only&#160;(as permitted by Rule 14a-6(e)(2))</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;</font></td><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Definitive Proxy Statement</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9745;</font></td><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Definitive Additional Materials</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Soliciting Material under Rule 14a-12</font></td></tr></table></div><div style="margin-top:6pt"><font><br></font></div><div style="margin-top:6pt;text-align:center"><font style="color:#1386c6;font-family:'Arial',sans-serif;font-size:22pt;font-weight:700;line-height:120%">COLUMBIA SPORTSWEAR COMPANY</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(Name of registrant as specified in its charter)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(Name of person(s) filing proxy statement, if other than the registrant)</font></div><div style="margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:80.701%"><tr><td style="width:1.0%"></td><td style="width:11.762%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:86.038%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#cceeff;border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Payment of Filing Fee (Check the appropriate box)&#58;</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9745;</font></td><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">No fee required.</font></td></tr><tr style="height:15pt"><td colspan="3" rowspan="6" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;</font></td><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1) Title of each class of securities to which transaction applies&#58;</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2) Aggregate number of securities to which transaction applies&#58;</font></td></tr><tr style="height:32pt"><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined)&#58;</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4) Proposed maximum aggregate value of transaction&#58;</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5) Total fee paid&#58;</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;</font></td><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fee paid previously with preliminary materials.</font></td></tr><tr style="height:32pt"><td colspan="3" rowspan="5" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;</font></td><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1) Amount Previously Paid&#58;</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2) Form, Schedule or Registration Statement No.&#58;</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3) Filing Party&#58;</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4) Date Filed&#58;</font></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:9pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i91a998becea44e4c8d63f46d727ef01c_50"></div><hr style="page-break-after:always"><div style="min-height:54pt;width:100%"><div style="padding-left:13.5pt;padding-right:13.5pt"><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:139%">SUPPLEMENT DATED MAY 28, 2021</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:139%">TO THE PROXY STATEMENT FOR THE</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:139%">ANNUAL MEETING OF SHAREHOLDERS OF</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">COLUMBIA SPORTSWEAR COMPANY</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:139%">TO BE HELD JUNE 2, 2021</font></div><div style="text-align:center"><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Explanatory Note</font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">This supplement to the Proxy Statement dated April 20, 2021 (the &#8220;Proxy Statement&#8221;) of Columbia Sportswear Company (the &#8220;Company&#8221;) supplements the disclosure in (i) the last sentence of the first paragraph under the heading &#8220;Proxy Summary &#8211; 2020 Business Highlights &#8211; Fiscal 2020 Financial Results&#8221; on page 2 of the Proxy Statement, and (ii) the sixth sentence of the second paragraph under the heading &#8220;Executive Compensation &#8211; Compensation Discussion and Analysis &#8211; Executive Summary&#8221; on page 20 of the Proxy Statement, in each case to include a definition and other information regarding the disclosure of free cash flow and a reconciliation of free cash flow to net cash provided by operating activities for fiscal year 2020. This supplemental information, which we do not consider material, was inadvertently omitted from the Proxy Statement.</font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:139%">Revisions to Proxy Summary &#8211; 2020 Business Highlights &#8211; Fiscal 2020 Financial Results</font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">The following text amends and restates the disclosure in the last sentence of the first paragraph under the heading &#8220;Proxy Summary &#8211; 2020 Business Highlights &#8211; Fiscal 2020 Financial Results&#8221; on page 2 of the Proxy Statement&#58;</font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">These actions, combined with disciplined working capital management enabled free cash flow of nearly $250 million, and cash and short-term investments of over $790 million and no borrowings exiting the year.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:139%;position:relative;top:-3.5pt;vertical-align:baseline">1</font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:139%;position:relative;top:-3.5pt;vertical-align:baseline">1 </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Free cash flow is a non-GAAP financial measure that is equal to net cash provided by operating activities less capital expenditures. Management believes that free cash flow is helpful in evaluating our ability to invest in organic growth opportunities, return capital to shareholders and opportunistically pursue acquisitions. Free cash flow is not a recognized term under GAAP and does not purport to be an alternative to net cash provided by operating activities as a measure of liquidity.</font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">The non-GAAP financial measures should be viewed in addition to, and not in lieu of or superior to, our financial measures calculated in accordance with GAAP. The Company provides a reconciliation of non-GAAP measures to the most directly comparable financial measure calculated in accordance with GAAP. See the &#34;Reconciliation of GAAP to Non-GAAP Financial Measures&#34; table included in the &#8220;Executive Compensation &#8211; Compensation Discussion and Analysis &#8211; Executive Summary&#8221; section below. The non-GAAP financial measures presented may not be comparable to similarly titled measures reported by other companies.</font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:139%">Revisions to Executive Compensation &#8211; Compensation Discussion and Analysis &#8211; Executive Summary </font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">The following text amends and restates the disclosure in the sixth sentence of the second paragraph under the heading &#8220;Executive Compensation &#8211; Compensation Discussion and Analysis &#8211; Executive Summary&#8221; on page 20 of the Proxy Statement&#58;</font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Our management team&#8217;s swift action to reduce expenses and preserve capital along with disciplined working capital management enabled free cash flow of nearly $250 million, and cash and short-term investments of over $790 million and no long-term debt exiting the year.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:139%;position:relative;top:-3.5pt;vertical-align:baseline">2</font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:139%;position:relative;top:-3.5pt;vertical-align:baseline">2 </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Free cash flow is a non-GAAP financial measure that is equal to net cash provided by operating activities less capital expenditures. Management believes that free cash flow is helpful in evaluating our ability to invest in organic growth opportunities, return capital to shareholders and opportunistically pursue acquisitions. Free cash flow is not a recognized term under GAAP and does not purport to be an alternative to net cash provided by operating activities as a measure of liquidity.</font></div><div style="height:54pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:54pt;width:100%"><div style="padding-left:13.5pt;padding-right:13.5pt"><font><br></font></div></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">The non-GAAP financial measures should be viewed in addition to, and not in lieu of or superior to, our financial measures calculated in accordance with GAAP. The Company provides a reconciliation of non-GAAP measures to the most directly comparable financial measure calculated in accordance with GAAP. See the &#34;Reconciliation of GAAP to Non-GAAP Financial Measures&#34; table included below. The non-GAAP financial measures presented may not be comparable to similarly titled measures reported by other companies.</font></div><div style="margin-top:6pt;text-align:justify"><font><br></font></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:139%">COLUMBIA SPORTSWEAR COMPANY</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Reconciliation of GAAP to Non-GAAP Financial Measures</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Net cash provided by operating activities to free cash flow</font></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:79.016%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.115%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.469%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">(in thousands)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Year Ended December 31, 2020</font></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 1.02pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net cash provided by operating activities</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">276,077&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:1.5pt;margin-top:3.75pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Capital expenditures</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(28,758)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 1.02pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Free cash flow</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">247,319&#160;</font></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Voting Information</font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Proxies received since the mailing date of the Proxy Statement will continue to be voted as instructed unless otherwise revoked or changed by a subsequent proxy. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:139%">If you have already submitted a proxy to vote your shares at the Annual Meeting and you do not wish to change your vote, you do not need to resubmit a new proxy or re-cast your vote.</font></div><div style="text-align:center"><font><br></font></div><div style="height:54pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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