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Pay vs Performance Disclosure - USD ($)
12 Months Ended 14 Months Ended 22 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2024
Nov. 15, 2023
Pay vs Performance Disclosure              
Pay vs Performance Disclosure, Table

In accordance with Item 402(v) of Regulation S-K of the Exchange Act adopted by the Securities and Exchange Commission, we provide the following disclosure regarding executive compensation for our principal executive officer (“PEO”) and Non-PEO named executive officers (“NEOs”) and Company performance for the fiscal years listed below. The table below does not necessarily reflect value actually earned, realized, or received by our PEO and Non-PEO NEOs. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown.

 

 

Summary

 

 

Summary

 

 

 

 

 

 

 

 

Average
Summary

 

 

Average

 

 

Value of Initial
Fixed $100
Investment Based on:
4

 

 

 

 

 

 

 

 

 

Compensation

 

 

Compensation

 

 

Compensation

 

 

Compensation

 

 

Compensation

 

 

Compensation

 

 

Total

 

 

 

 

 

 

 

 

Adjusted

 

 

 

Table Total

 

 

Table Total

 

 

Actually Paid

 

 

Actually Paid

 

 

Table Total for

 

 

Actually Paid to

 

 

Shareholder

 

 

Peer

 

 

Net

 

 

Operating

 

Year

 

for Todd
S. Nelson
1

 

 

for Andrew
H. Hurst
1

 

 

to Todd
S. Nelson
1,2,3

 

 

to Andrew
H. Hurst
1,2,3

 

 

Non-PEO
NEOs
1

 

 

Non-PEO
NEOs
1,2,3

 

 

Return
("TSR")

 

 

Group
TSR

 

 

Income
($ Millions)

 

 

Income5
($ Millions)

 

(a)

 

(b)

 

 

(b)

 

 

(c)

 

 

(c)

 

 

(d)

 

 

(e)

 

 

(f)

 

 

(g)

 

 

(h)

 

 

(i)

 

2024

 

$

6,725,760

 

 

-

 

 

$

13,858,164

 

 

-

 

 

$

2,129,998

 

 

$

3,871,501

 

 

$

145.08

 

 

$

105.11

 

 

$

147.6

 

 

$

194.6

 

2023

 

$

4,504,386

 

 

$

4,086,115

 

 

$

9,264,665

 

 

$

1,090,971

 

 

$

1,718,696

 

 

$

2,854,849

 

 

$

96.74

 

 

$

89.58

 

 

$

147.7

 

 

$

199.2

 

2022

 

$

4,512,179

 

 

$

2,537,725

 

 

$

5,745,977

 

 

$

3,004,639

 

 

$

1,415,745

 

 

$

1,659,444

 

 

$

75.58

 

 

$

73.31

 

 

$

95.9

 

 

$

175.8

 

2021

 

$

4,998,632

 

 

-

 

 

$

4,575,611

 

 

-

 

 

$

1,425,824

 

 

$

1,283,784

 

 

$

63.95

 

 

$

93.43

 

 

$

109.6

 

 

$

183.6

 

2020

 

$

4,870,453

 

 

-

 

 

$

(35,983

)

 

-

 

 

$

1,319,620

 

 

$

99,805

 

 

$

68.68

 

 

$

111.02

 

 

$

124.3

 

 

$

170.6

 

(1) Todd S. Nelson was our PEO from 2020 through January 20, 2022, then again from November 16, 2023 to present. Andrew H. Hurst was our PEO from January 20, 2022 through November 15, 2023. The individuals comprising the Non-PEO named executive officers for each fiscal year presented are listed below.

2020

2021

2022

2023

2024

Andrew H. Hurst

Andrew H. Hurst

Ashish R. Ghia

Ashish R. Ghia

Ashish R. Ghia

Ashish R. Ghia

Ashish R. Ghia

Greg E. Jansen

Greg E. Jansen

Greg E. Jansen

Jeffrey D. Ayers

Jeffrey D. Ayers

John R. Kline

John R. Kline

John R. Kline

John R. Kline

John R. Kline

Elise L. Baskel

Elise L. Baskel

Elise L. Baskel

(2) The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.

(3) Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table. Compensation Actually Paid values for 2023 have been updated from last year's disclosure to reflect revised performance share accruals at 2023 year end and to be consistent with accounting treatment.

 

 

Summary

 

 

 

 

 

 

 

 

 

 

 

 

Compensation

 

 

Exclusion of

 

 

Inclusion of

 

 

Compensation

 

 

 

Table Total for

 

 

Stock Awards

 

 

Equity Values

 

 

Actually Paid to

 

Year

 

Todd S. Nelson

 

 

for Todd S. Nelson

 

 

for Todd S. Nelson

 

 

Todd S. Nelson

 

2024

 

$

6,725,760

 

 

$

2,351,513

 

 

$

9,483,917

 

 

$

13,858,164

 

2023

 

$

4,504,386

 

 

$

2,004,036

 

 

$

6,764,315

 

 

$

9,264,665

 

2022

 

$

4,512,179

 

 

$

2,043,087

 

 

$

3,276,885

 

 

$

5,745,977

 

2021

 

$

4,998,632

 

 

$

2,297,832

 

 

$

1,874,811

 

 

$

4,575,611

 

2020

 

$

4,870,453

 

 

$

2,169,753

 

 

$

(2,736,683

)

 

$

(35,983

)

 

 

 

Summary

 

 

 

 

 

 

 

 

 

 

 

 

Compensation

 

 

Exclusion of

 

 

Inclusion of

 

 

Compensation

 

 

 

Table Total for

 

 

Stock Awards

 

 

Equity Values

 

 

Actually Paid to

 

Year

 

Andrew H. Hurst

 

 

for Andrew H. Hurst

 

 

for Andrew H. Hurst

 

 

Andrew H. Hurst

 

2023

 

$

4,086,115

 

 

$

1,240,590

 

 

$

(1,754,554

)

 

$

1,090,971

 

2022

 

$

2,537,725

 

 

$

1,070,169

 

 

$

1,537,083

 

 

$

3,004,639

 

 

 

 

Average Summary

 

 

 

 

 

 

 

 

Average

 

 

 

Compensation

 

 

Average Exclusion of

 

 

Average Inclusion of

 

 

Compensation

 

 

 

Table Total for

 

 

Stock Awards

 

 

Equity Values

 

 

Actually Paid to

 

Year

 

Non-PEO NEOs

 

 

Non-PEO NEOs

 

 

Non-PEO NEOs

 

 

Non-PEO NEOs

 

2024

 

$

2,129,998

 

 

$

555,054

 

 

$

2,296,557

 

 

$

3,871,501

 

2023

 

$

1,718,696

 

 

$

534,067

 

 

$

1,670,220

 

 

$

2,854,849

 

2022

 

$

1,415,745

 

 

$

490,290

 

 

$

733,989

 

 

$

1,659,444

 

2021

 

$

1,425,824

 

 

$

480,891

 

 

$

338,851

 

 

$

1,283,784

 

2020

 

$

1,319,620

 

 

$

409,676

 

 

$

(810,139

)

 

$

99,805

 

 

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

 

 

 

Fiscal Year-end
Fair Value
of Equity Awards

 

 

Change in
Fair Value

 

 

Vesting-Date Fair
Value of Equity

 

 

Change in Fair Value
From Last Day of Prior

 

 

Fair Value at Last

 

 

 

 

 

 

Granted During Fiscal

 

 

from Last Day

 

 

Awards Granted

 

 

Fiscal Year to Vesting

 

 

Day of Prior Fiscal

 

 

 

 

 

 

Year That Remained

 

 

of Prior Fiscal

 

 

During Fiscal

 

 

Date of Unvested Equity

 

 

Year of Equity

 

 

 

 

 

 

Unvested as of Last

 

 

Year to Last Day

 

 

Year that Vested

 

 

Awards that Vested

 

 

Awards Forfeited

 

 

Total Inclusion of

 

 

 

Day of Fiscal Year

 

 

of Fiscal Year

 

 

During Fiscal Year

 

 

During Fiscal Year

 

 

During Fiscal Year

 

 

Equity Values

 

Year

 

for Todd S. Nelson

 

 

for Todd S. Nelson

 

 

for Todd S. Nelson

 

 

for Todd S. Nelson

 

 

for Todd S. Nelson

 

 

for Todd S. Nelson

 

2024

 

$

5,347,469

 

 

$

4,107,876

 

 

$

0

 

 

$

28,572

 

 

$

0

 

 

$

9,483,917

 

2023

 

$

3,853,015

 

 

$

2,995,276

 

 

$

0

 

 

$

(83,976

)

 

$

0

 

 

$

6,764,315

 

2022

 

$

2,728,042

 

 

$

662,876

 

 

$

0

 

 

$

(114,033

)

 

$

0

 

 

$

3,276,885

 

2021

 

$

2,286,168

 

 

$

(238,435

)

 

$

0

 

 

$

(63,793

)

 

$

(109,129

)

 

$

1,874,811

 

2020

 

$

1,785,276

 

 

$

(2,879,354

)

 

$

0

 

 

$

(1,642,604

)

 

$

0

 

 

$

(2,736,683

)

 

 

 

 

Fiscal Year-end
Fair Value of
Equity Awards

 

 

Change in
Fair Value

 

 

Vesting-Date Fair
Value of Equity

 

 

Change in Fair Value
from Last Day of

 

 

Fair Value at
Last Day of

 

 

 

 

 

 

Granted During Fiscal

 

 

from Last Day

 

 

Awards Granted

 

 

Prior Fiscal Year to

 

 

Prior Fiscal Year of

 

 

 

 

 

 

Year That Remained

 

 

of Prior Fiscal

 

 

During Fiscal Year

 

 

Vesting Date of Unvested

 

 

Equity Awards

 

 

 

 

 

 

Unvested as of Last

 

 

Year to Last Day

 

 

that Vested During

 

 

Equity Awards that Vested

 

 

Forfeited During

 

 

Total Inclusion of

 

 

 

Day of Fiscal Year

 

 

of Fiscal Year for

 

 

Fiscal Year for

 

 

During Fiscal Year

 

 

Fiscal Year for

 

 

Equity Values for

 

Year

 

for Andrew H. Hurst

 

 

Andrew H. Hurst

 

 

Andrew H. Hurst

 

 

for Andrew H. Hurst

 

 

Andrew H. Hurst

 

 

Andrew H. Hurst

 

2023

 

$

0

 

 

$

0

 

 

$

0

 

 

$

(20,863

)

 

$

(1,733,691

)

 

$

(1,754,554

)

2022

 

$

1,428,948

 

 

$

131,156

 

 

$

0

 

 

$

(23,021

)

 

$

0

 

 

$

1,537,083

 

 

 

 

 

Average Fiscal
Year-end Fair Value
of Equity Awards

 

 

Average Change
in Fair Value

 

 

Average Vesting-
Date Fair
Value of Equity

 

 

Average Change in
Fair Value from Last

 

 

Average Fair
Value at Last

 

 

 

 

 

 

Granted During Fiscal

 

 

from Last Day of

 

 

Awards Granted

 

 

Day of Prior Fiscal Year

 

 

Day of Prior Fiscal

 

 

 

 

 

 

Year That Remained

 

 

Prior Fiscal Year

 

 

During Fiscal

 

 

to Vesting Date of Unvested

 

 

Year of Equity

 

 

Total Average

 

 

 

Unvested as of Last

 

 

to Last Day of

 

 

Year that Vested

 

 

Equity Awards that Vested

 

 

Awards Forfeited

 

 

Inclusion of

 

 

 

Day of Fiscal Year

 

 

Fiscal Year for

 

 

During Fiscal Year

 

 

During Fiscal Year

 

 

During Fiscal Year

 

 

Equity Values

 

Year

 

for Non-PEO NEOs

 

 

Non-PEO NEOs

 

 

for Non-PEO NEOs

 

 

for Non-PEO NEOs

 

 

for Non-PEO NEOs

 

 

for Non-PEO NEOs

 

2024

 

$

1,262,222

 

 

$

1,029,727

 

 

$

0

 

 

$

4,608

 

 

$

0

 

 

$

2,296,557

 

2023

 

$

1,026,821

 

 

$

656,769

 

 

$

0

 

 

$

(13,370

)

 

$

0

 

 

$

1,670,220

 

2022

 

$

654,662

 

 

$

95,423

 

 

$

0

 

 

$

(16,096

)

 

$

0

 

 

$

733,989

 

2021

 

$

478,450

 

 

$

(46,861

)

 

$

0

 

 

$

(75,925

)

 

$

(16,813

)

 

$

338,851

 

2020

 

$

337,082

 

 

$

(893,953

)

 

$

0

 

 

$

(253,267

)

 

$

0

 

 

$

(810,139

)

(4) The Peer Group TSR set forth in this table utilizes the companies used as a peer group for purposes of the Company’s disclosures under Item 402(b) of Regulation S-K. The returns of each component issuer of the group have been weighted according to their stock market capitalization at the beginning of each period. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the companies used as a peer group, respectively. The companies used as a peer group for 2020, 2021, and 2022, are as follows: 2U, Inc., Adtalem Global Education Inc., American Public Education, Inc., Bright Horizons Family Solutions Inc., Chegg, Inc., Cornerstone OnDemand, Inc., Graham Holdings Company, Grand Canyon Education, Inc., Heidrick & Struggles International, Inc., Houghton Mifflin Harcourt Company, Huron Consulting Group Inc., Kforce Inc., Korn Ferry, Lincoln Educational Services Corporation, Strategic Education, Inc., Stride, Inc., Universal Technical Institute, Inc., WW International, Inc., and Zovio Inc. In 2023, the Company removed Zovio Inc. as a peer due to its dissolution. In 2024, the Company removed 2U, Inc. due to its insolvency.

 

(5) We determined Adjusted Operating Income to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEOs and Non-PEO NEOs in 2023 and 2024. Adjusted Operating Income is defined, for purposes of the annual incentive plan, as set forth above in the “Compensation Discussion and Analysis” section. For years 2020, 2021, and 2022, the most important financial measure was Adjusted EBITDA; the change from Adjusted EBITDA to Adjusted Operating Income did not involve a substantive or economic value change and was made for more consistent nomenclature. We may determine a different financial performance measure to be the most important financial performance measure in future years. For a reconciliation of adjusted operating income to operating income, the most directly corresponding GAAP financial measure, see Appendix A.

           
Company Selected Measure Name Adjusted Operating Income            
Named Executive Officers, Footnote 1) Todd S. Nelson was our PEO from 2020 through January 20, 2022, then again from November 16, 2023 to present. Andrew H. Hurst was our PEO from January 20, 2022 through November 15, 2023. The individuals comprising the Non-PEO named executive officers for each fiscal year presented are listed below.

2020

2021

2022

2023

2024

Andrew H. Hurst

Andrew H. Hurst

Ashish R. Ghia

Ashish R. Ghia

Ashish R. Ghia

Ashish R. Ghia

Ashish R. Ghia

Greg E. Jansen

Greg E. Jansen

Greg E. Jansen

Jeffrey D. Ayers

Jeffrey D. Ayers

John R. Kline

John R. Kline

John R. Kline

John R. Kline

John R. Kline

Elise L. Baskel

Elise L. Baskel

Elise L. Baskel

           
Peer Group Issuers, Footnote The Peer Group TSR set forth in this table utilizes the companies used as a peer group for purposes of the Company’s disclosures under Item 402(b) of Regulation S-K. The returns of each component issuer of the group have been weighted according to their stock market capitalization at the beginning of each period. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the companies used as a peer group, respectively. The companies used as a peer group for 2020, 2021, and 2022, are as follows: 2U, Inc., Adtalem Global Education Inc., American Public Education, Inc., Bright Horizons Family Solutions Inc., Chegg, Inc., Cornerstone OnDemand, Inc., Graham Holdings Company, Grand Canyon Education, Inc., Heidrick & Struggles International, Inc., Houghton Mifflin Harcourt Company, Huron Consulting Group Inc., Kforce Inc., Korn Ferry, Lincoln Educational Services Corporation, Strategic Education, Inc., Stride, Inc., Universal Technical Institute, Inc., WW International, Inc., and Zovio Inc. In 2023, the Company removed Zovio Inc. as a peer due to its dissolution. In 2024, the Company removed 2U, Inc. due to its insolvency.            
Adjustment To PEO Compensation, Footnote 3) Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table. Compensation Actually Paid values for 2023 have been updated from last year's disclosure to reflect revised performance share accruals at 2023 year end and to be consistent with accounting treatment.

 

 

Summary

 

 

 

 

 

 

 

 

 

 

 

 

Compensation

 

 

Exclusion of

 

 

Inclusion of

 

 

Compensation

 

 

 

Table Total for

 

 

Stock Awards

 

 

Equity Values

 

 

Actually Paid to

 

Year

 

Todd S. Nelson

 

 

for Todd S. Nelson

 

 

for Todd S. Nelson

 

 

Todd S. Nelson

 

2024

 

$

6,725,760

 

 

$

2,351,513

 

 

$

9,483,917

 

 

$

13,858,164

 

2023

 

$

4,504,386

 

 

$

2,004,036

 

 

$

6,764,315

 

 

$

9,264,665

 

2022

 

$

4,512,179

 

 

$

2,043,087

 

 

$

3,276,885

 

 

$

5,745,977

 

2021

 

$

4,998,632

 

 

$

2,297,832

 

 

$

1,874,811

 

 

$

4,575,611

 

2020

 

$

4,870,453

 

 

$

2,169,753

 

 

$

(2,736,683

)

 

$

(35,983

)

 

 

 

Summary

 

 

 

 

 

 

 

 

 

 

 

 

Compensation

 

 

Exclusion of

 

 

Inclusion of

 

 

Compensation

 

 

 

Table Total for

 

 

Stock Awards

 

 

Equity Values

 

 

Actually Paid to

 

Year

 

Andrew H. Hurst

 

 

for Andrew H. Hurst

 

 

for Andrew H. Hurst

 

 

Andrew H. Hurst

 

2023

 

$

4,086,115

 

 

$

1,240,590

 

 

$

(1,754,554

)

 

$

1,090,971

 

2022

 

$

2,537,725

 

 

$

1,070,169

 

 

$

1,537,083

 

 

$

3,004,639

 

 

 

 

Average Summary

 

 

 

 

 

 

 

 

Average

 

 

 

Compensation

 

 

Average Exclusion of

 

 

Average Inclusion of

 

 

Compensation

 

 

 

Table Total for

 

 

Stock Awards

 

 

Equity Values

 

 

Actually Paid to

 

Year

 

Non-PEO NEOs

 

 

Non-PEO NEOs

 

 

Non-PEO NEOs

 

 

Non-PEO NEOs

 

2024

 

$

2,129,998

 

 

$

555,054

 

 

$

2,296,557

 

 

$

3,871,501

 

2023

 

$

1,718,696

 

 

$

534,067

 

 

$

1,670,220

 

 

$

2,854,849

 

2022

 

$

1,415,745

 

 

$

490,290

 

 

$

733,989

 

 

$

1,659,444

 

2021

 

$

1,425,824

 

 

$

480,891

 

 

$

338,851

 

 

$

1,283,784

 

2020

 

$

1,319,620

 

 

$

409,676

 

 

$

(810,139

)

 

$

99,805

 

 

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

 

 

 

Fiscal Year-end
Fair Value
of Equity Awards

 

 

Change in
Fair Value

 

 

Vesting-Date Fair
Value of Equity

 

 

Change in Fair Value
From Last Day of Prior

 

 

Fair Value at Last

 

 

 

 

 

 

Granted During Fiscal

 

 

from Last Day

 

 

Awards Granted

 

 

Fiscal Year to Vesting

 

 

Day of Prior Fiscal

 

 

 

 

 

 

Year That Remained

 

 

of Prior Fiscal

 

 

During Fiscal

 

 

Date of Unvested Equity

 

 

Year of Equity

 

 

 

 

 

 

Unvested as of Last

 

 

Year to Last Day

 

 

Year that Vested

 

 

Awards that Vested

 

 

Awards Forfeited

 

 

Total Inclusion of

 

 

 

Day of Fiscal Year

 

 

of Fiscal Year

 

 

During Fiscal Year

 

 

During Fiscal Year

 

 

During Fiscal Year

 

 

Equity Values

 

Year

 

for Todd S. Nelson

 

 

for Todd S. Nelson

 

 

for Todd S. Nelson

 

 

for Todd S. Nelson

 

 

for Todd S. Nelson

 

 

for Todd S. Nelson

 

2024

 

$

5,347,469

 

 

$

4,107,876

 

 

$

0

 

 

$

28,572

 

 

$

0

 

 

$

9,483,917

 

2023

 

$

3,853,015

 

 

$

2,995,276

 

 

$

0

 

 

$

(83,976

)

 

$

0

 

 

$

6,764,315

 

2022

 

$

2,728,042

 

 

$

662,876

 

 

$

0

 

 

$

(114,033

)

 

$

0

 

 

$

3,276,885

 

2021

 

$

2,286,168

 

 

$

(238,435

)

 

$

0

 

 

$

(63,793

)

 

$

(109,129

)

 

$

1,874,811

 

2020

 

$

1,785,276

 

 

$

(2,879,354

)

 

$

0

 

 

$

(1,642,604

)

 

$

0

 

 

$

(2,736,683

)

 

 

 

 

Fiscal Year-end
Fair Value of
Equity Awards

 

 

Change in
Fair Value

 

 

Vesting-Date Fair
Value of Equity

 

 

Change in Fair Value
from Last Day of

 

 

Fair Value at
Last Day of

 

 

 

 

 

 

Granted During Fiscal

 

 

from Last Day

 

 

Awards Granted

 

 

Prior Fiscal Year to

 

 

Prior Fiscal Year of

 

 

 

 

 

 

Year That Remained

 

 

of Prior Fiscal

 

 

During Fiscal Year

 

 

Vesting Date of Unvested

 

 

Equity Awards

 

 

 

 

 

 

Unvested as of Last

 

 

Year to Last Day

 

 

that Vested During

 

 

Equity Awards that Vested

 

 

Forfeited During

 

 

Total Inclusion of

 

 

 

Day of Fiscal Year

 

 

of Fiscal Year for

 

 

Fiscal Year for

 

 

During Fiscal Year

 

 

Fiscal Year for

 

 

Equity Values for

 

Year

 

for Andrew H. Hurst

 

 

Andrew H. Hurst

 

 

Andrew H. Hurst

 

 

for Andrew H. Hurst

 

 

Andrew H. Hurst

 

 

Andrew H. Hurst

 

2023

 

$

0

 

 

$

0

 

 

$

0

 

 

$

(20,863

)

 

$

(1,733,691

)

 

$

(1,754,554

)

2022

 

$

1,428,948

 

 

$

131,156

 

 

$

0

 

 

$

(23,021

)

 

$

0

 

 

$

1,537,083

 

 

 

 

 

Average Fiscal
Year-end Fair Value
of Equity Awards

 

 

Average Change
in Fair Value

 

 

Average Vesting-
Date Fair
Value of Equity

 

 

Average Change in
Fair Value from Last

 

 

Average Fair
Value at Last

 

 

 

 

 

 

Granted During Fiscal

 

 

from Last Day of

 

 

Awards Granted

 

 

Day of Prior Fiscal Year

 

 

Day of Prior Fiscal

 

 

 

 

 

 

Year That Remained

 

 

Prior Fiscal Year

 

 

During Fiscal

 

 

to Vesting Date of Unvested

 

 

Year of Equity

 

 

Total Average

 

 

 

Unvested as of Last

 

 

to Last Day of

 

 

Year that Vested

 

 

Equity Awards that Vested

 

 

Awards Forfeited

 

 

Inclusion of

 

 

 

Day of Fiscal Year

 

 

Fiscal Year for

 

 

During Fiscal Year

 

 

During Fiscal Year

 

 

During Fiscal Year

 

 

Equity Values

 

Year

 

for Non-PEO NEOs

 

 

Non-PEO NEOs

 

 

for Non-PEO NEOs

 

 

for Non-PEO NEOs

 

 

for Non-PEO NEOs

 

 

for Non-PEO NEOs

 

2024

 

$

1,262,222

 

 

$

1,029,727

 

 

$

0

 

 

$

4,608

 

 

$

0

 

 

$

2,296,557

 

2023

 

$

1,026,821

 

 

$

656,769

 

 

$

0

 

 

$

(13,370

)

 

$

0

 

 

$

1,670,220

 

2022

 

$

654,662

 

 

$

95,423

 

 

$

0

 

 

$

(16,096

)

 

$

0

 

 

$

733,989

 

2021

 

$

478,450

 

 

$

(46,861

)

 

$

0

 

 

$

(75,925

)

 

$

(16,813

)

 

$

338,851

 

2020

 

$

337,082

 

 

$

(893,953

)

 

$

0

 

 

$

(253,267

)

 

$

0

 

 

$

(810,139

)

           
Non-PEO NEO Average Total Compensation Amount $ 2,129,998 $ 1,718,696 $ 1,415,745 $ 1,425,824 $ 1,319,620    
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,871,501 2,854,849 1,659,444 1,283,784 99,805    
Compensation Actually Paid vs. Total Shareholder Return

img152930126_6.jpg

           
Compensation Actually Paid vs. Net Income

img152930126_7.jpg

           
Compensation Actually Paid vs. Company Selected Measure

img152930126_8.jpg

           
Total Shareholder Return Vs Peer Group

img152930126_9.jpg

           
Tabular List, Table

Tabular List of Most Important Financial Performance Measure. The following presents the financial performance measure that the Company considers to have been the most important in linking Compensation Actually Paid to our PEOs and other NEOs for 2024 to Company performance. The financial performance component of AIP and the performance condition used for performance-based restricted stock units were based solely on a company-wide Adjusted Operating Income performance measure.

 

Adjusted Operating Income

           
Total Shareholder Return Amount $ 145.08 96.74 75.58 63.95 68.68    
Peer Group Total Shareholder Return Amount 105.11 89.58 73.31 93.43 111.02    
Net Income (Loss) $ 147,600,000 $ 147,700,000 $ 95,900,000 $ 109,600,000 $ 124,300,000    
Company Selected Measure Amount 194,600,000 199,200,000 175,800,000 183,600,000 170,600,000    
PEO Name           Todd S. Nelson Andrew H. Hurst
Additional 402(v) Disclosure 2) The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.            
Measure:: 1              
Pay vs Performance Disclosure              
Name Adjusted Operating Income            
Todd S. Nelson [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount $ 6,725,760 $ 4,504,386 $ 4,512,179 $ 4,998,632 $ 4,870,453    
PEO Actually Paid Compensation Amount 13,858,164 9,264,665 5,745,977 4,575,611 (35,983)    
Andrew H. Hurst [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount   4,086,115 2,537,725        
PEO Actually Paid Compensation Amount   1,090,971 3,004,639        
PEO | Todd S. Nelson [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount (2,351,513) (2,004,036) (2,043,087) (2,297,832) (2,169,753)    
PEO | Todd S. Nelson [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount 9,483,917 6,764,315 3,276,885 1,874,811 (2,736,683)    
PEO | Todd S. Nelson [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 5,347,469 3,853,015 2,728,042 2,286,168 1,785,276    
PEO | Todd S. Nelson [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 4,107,876 2,995,276 662,876 (238,435) (2,879,354)    
PEO | Todd S. Nelson [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount 0 0 0 0 0    
PEO | Todd S. Nelson [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 28,572 (83,976) (114,033) (63,793) (1,642,604)    
PEO | Todd S. Nelson [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 0 0 (109,129) 0    
PEO | Andrew H. Hurst [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   (1,240,590) (1,070,169)        
PEO | Andrew H. Hurst [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   (1,754,554) 1,537,083        
PEO | Andrew H. Hurst [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   0 1,428,948        
PEO | Andrew H. Hurst [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   0 131,156        
PEO | Andrew H. Hurst [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount   0 0        
PEO | Andrew H. Hurst [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   (20,863) (23,021)        
PEO | Andrew H. Hurst [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   (1,733,691) 0        
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 555,054 534,067 490,290 480,891 409,676    
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount 2,296,557 1,670,220 733,989 338,851 (810,139)    
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 1,262,222 1,026,821 654,662 478,450 337,082    
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 1,029,727 656,769 95,423 (46,861) (893,953)    
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 0 0 0 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 4,608 (13,370) (16,096) (75,925) (253,267)    
Non-PEO NEO | Average Fair Value at Last Day of Prior Fiscal Year of Equity Awards Forfeited During Fiscal Year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount $ 0 $ 0 $ 0 $ (16,813) $ 0