XML 16 R2.htm IDEA: XBRL DOCUMENT

Pay vs Performance Disclosure - USD ($)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

The following table presents certain information regarding compensation paid to our executive officers, and certain measures of financial performance, for the four years ended December 31, 2023. The amounts shown below are calculated in accordance with Item 402(v) of Regulation S-K:


															Value of Initial Fixed $100 Investment Based on:
			Summary Compensation Table Total for PEO(1)			Compensation Actually Paid to PEO(3)			Average Summary Compensation Table Total for non-PEO Named Executive Officers(2)			Average Compensation Actually Paid to non-PEO Named Executive Officers(3)			Addus Total Shareholder Return(4)			Peer Group Shareholder Return(4)			Net Income ($ in thousands)(5)			Adjusted EBITDA ($ in thousands)(6)
Name			($)			($)			($)			($)			($)			($)
2023			4,169,841			3,946,859			1,521,762			1,393,237			95.48			37.64			62,516			$121,020
2022			3,739,579			4,243,735			1,499,048			1,717,310			102.32			37.60			46,025			101,480
2021			3,444,664			1,715,387			1,845,240			1,260,316			96.19			37.29			45,126			97,661
2020			3,708,442			4,250,192			1,293,624			1,500,491			120.44			29.23			33,133			76,907


(1)	The dollar amounts reported in the column reflect the amounts of total compensation reported for Mr. Allison (our principal executive officer, or “PEO”) for each corresponding year in the “Total” column of the Summary Compensation Table. Mr. Allison was our principal executive officer for the years ended 2023, 2022, 2021 and 2020.

        (2)

        The dollar amounts reported in the column reflect the average amounts of total compensation reported for our non-PEO NEOs for each corresponding year in the “Total” column of the Summary Compensation Table. In 2023, our non-PEO NEOs were Brian Poff, W. Bradley Bickham, Darby Anderson and Sean Gaffney. In 2022, our non-PEO NEOs were Brian Poff, W. Bradley Bickham, Monica Raines and Cliff Blessing. In 2021, our non-PEO NEOs were Brian Poff, W. Bradley Bickham, Roberton Stevenson and Darby Anderson. In 2020, our non-PEO NEOs were Brian Poff, W. Bradley Bickham, Sean Gaffney and Darby Anderson.


(3)	Amounts are calculated in accordance with Item 402(v) and do not reflect actual amounts of compensation paid to our PEO and other Non-PEO NEOs. See table below for detail of amounts deducted and added to the Summary Compensation Table figure to calculate compensation actually paid.


			PEO($)			2023 Average of Non-PEO NEOs($)			PEO($)			2022 Average of Non-PEO NEOs($)			PEO($)			2021 Average of Non-PEO NEOs($)	PEO($)			2020 Average of Non-PEO NEOs($)
Total Compensation as reported on Summary Compensation Table			4,169,841			1,521,762			3,739,579			1,499,048			3,444,664			1,845,240	3,708,442			1,293,624
Less Fair Value of stock awards reported in Summary Compensation Table			1,874,985			524,990			1,924,993			507,696			1,650,059			941,938	2,126,589			567,086
Fair value of equity compensation granted in current year - value at year-end			1,664,522			466,061			2,719,261			757,666			1,271,923			750,084	2,441,678			651,108
Change in fair value from end of prior fiscal to end of awards made in prior fiscal years that were unvested at end of current fiscal year			(151,093)			(69,962)			95,794			42,688			(833,209)			(282,215)	1,008,853			431,475
Change in fair value from end of prior fiscal year to vesting date for awards made in prior fiscal years that vested during current fiscal year			138,575			366			(385,905)			(74,395)			(517,933)			(110,856)	(782,191)			(308,630)
Compensation Actually Paid			3,946,859			1,393,237			4,243,735			1,717,310			1,715,387			1,260,316	4,250,192			1,500,491


(4)	Total shareholder return assumes that $100 was invested in our common stock and the peer group composite index on December 31, 2019 and reflects the value, as of December 31 of each covered year in the table above, of such investment. This shareholder return assumes reinvestment of all dividends. The peer group reflects the peer group composite index used in the Stock Performance Graph included in our Annual Report.

      (5)

      Dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year.

        (6)

        For the Company’s definition of adjusted EBITDA, refer to Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2023. The Company has determined that adjusted EBITDA is the financial performance measure that, in the Company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the Company to link compensation actually paid to the Company’s named executive officers for the most recently completed fiscal year. In 2023, as discussed above in “Compensation Discussion and Analysis,” the Company reflected the impact of New York rate increases that were retroactive to services performed in prior years.

Company Selected Measure Name

Adjusted EBITDA

Named Executive Officers, Footnote

        (2)

        The dollar amounts reported in the column reflect the average amounts of total compensation reported for our non-PEO NEOs for each corresponding year in the “Total” column of the Summary Compensation Table. In 2023, our non-PEO NEOs were Brian Poff, W. Bradley Bickham, Darby Anderson and Sean Gaffney. In 2022, our non-PEO NEOs were Brian Poff, W. Bradley Bickham, Monica Raines and Cliff Blessing. In 2021, our non-PEO NEOs were Brian Poff, W. Bradley Bickham, Roberton Stevenson and Darby Anderson. In 2020, our non-PEO NEOs were Brian Poff, W. Bradley Bickham, Sean Gaffney and Darby Anderson.

Peer Group Issuers, Footnote


(4)	Total shareholder return assumes that $100 was invested in our common stock and the peer group composite index on December 31, 2019 and reflects the value, as of December 31 of each covered year in the table above, of such investment. This shareholder return assumes reinvestment of all dividends. The peer group reflects the peer group composite index used in the Stock Performance Graph included in our Annual Report.

PEO Total Compensation Amount

$ 4,169,841

$ 3,739,579

$ 3,444,664

$ 3,708,442

PEO Actually Paid Compensation Amount

$ 3,946,859

4,243,735

1,715,387

4,250,192

Adjustment To PEO Compensation, Footnote


(3)	Amounts are calculated in accordance with Item 402(v) and do not reflect actual amounts of compensation paid to our PEO and other Non-PEO NEOs. See table below for detail of amounts deducted and added to the Summary Compensation Table figure to calculate compensation actually paid.


			PEO($)			2023 Average of Non-PEO NEOs($)			PEO($)			2022 Average of Non-PEO NEOs($)			PEO($)			2021 Average of Non-PEO NEOs($)	PEO($)			2020 Average of Non-PEO NEOs($)
Total Compensation as reported on Summary Compensation Table			4,169,841			1,521,762			3,739,579			1,499,048			3,444,664			1,845,240	3,708,442			1,293,624
Less Fair Value of stock awards reported in Summary Compensation Table			1,874,985			524,990			1,924,993			507,696			1,650,059			941,938	2,126,589			567,086
Fair value of equity compensation granted in current year - value at year-end			1,664,522			466,061			2,719,261			757,666			1,271,923			750,084	2,441,678			651,108
Change in fair value from end of prior fiscal to end of awards made in prior fiscal years that were unvested at end of current fiscal year			(151,093)			(69,962)			95,794			42,688			(833,209)			(282,215)	1,008,853			431,475
Change in fair value from end of prior fiscal year to vesting date for awards made in prior fiscal years that vested during current fiscal year			138,575			366			(385,905)			(74,395)			(517,933)			(110,856)	(782,191)			(308,630)
Compensation Actually Paid			3,946,859			1,393,237			4,243,735			1,717,310			1,715,387			1,260,316	4,250,192			1,500,491

Non-PEO NEO Average Total Compensation Amount

$ 1,521,762

1,499,048

1,845,240

1,293,624

Non-PEO NEO Average Compensation Actually Paid Amount

$ 1,393,237

1,717,310

1,260,316

1,500,491

Adjustment to Non-PEO NEO Compensation Footnote


(3)	Amounts are calculated in accordance with Item 402(v) and do not reflect actual amounts of compensation paid to our PEO and other Non-PEO NEOs. See table below for detail of amounts deducted and added to the Summary Compensation Table figure to calculate compensation actually paid.


			PEO($)			2023 Average of Non-PEO NEOs($)			PEO($)			2022 Average of Non-PEO NEOs($)			PEO($)			2021 Average of Non-PEO NEOs($)	PEO($)			2020 Average of Non-PEO NEOs($)
Total Compensation as reported on Summary Compensation Table			4,169,841			1,521,762			3,739,579			1,499,048			3,444,664			1,845,240	3,708,442			1,293,624
Less Fair Value of stock awards reported in Summary Compensation Table			1,874,985			524,990			1,924,993			507,696			1,650,059			941,938	2,126,589			567,086
Fair value of equity compensation granted in current year - value at year-end			1,664,522			466,061			2,719,261			757,666			1,271,923			750,084	2,441,678			651,108
Change in fair value from end of prior fiscal to end of awards made in prior fiscal years that were unvested at end of current fiscal year			(151,093)			(69,962)			95,794			42,688			(833,209)			(282,215)	1,008,853			431,475
Change in fair value from end of prior fiscal year to vesting date for awards made in prior fiscal years that vested during current fiscal year			138,575			366			(385,905)			(74,395)			(517,933)			(110,856)	(782,191)			(308,630)
Compensation Actually Paid			3,946,859			1,393,237			4,243,735			1,717,310			1,715,387			1,260,316	4,250,192			1,500,491

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid and Total Share Return

Compensation Actually Paid vs. Net Income

Compensation Actually Paid and Net Income

Compensation Actually Paid vs. Company Selected Measure

Compensation Actually Paid and Adjusted EBITDA

Total Shareholder Return Vs Peer Group

Addus Total Shareholder Return and Peer Group Total Shareholder Return

Tabular List, Table

Financial Performance Measures

As described in detail in “Compensation Discussion and Analysis,” our executive compensation program consists of several compensation elements, including equity compensation which is directly tied to the returns experienced by our shareholders. The financial performance measures used to link compensation actually paid to our named executive officers with the Company’s performance for 2023 are as follows:

• Adjusted EBITDA

• Total Shareholder Return

Total Shareholder Return Amount

$ 95.48

102.32

96.19

120.44

Peer Group Total Shareholder Return Amount

37.64

37.60

37.29

29.23

Net Income (Loss)

$ 62,516,000

$ 46,025,000

$ 45,126,000

$ 33,133,000

Company Selected Measure Amount

121,020,000

101,480,000

97,661,000

76,907,000

Mr. Allison

Mr. Allison

Mr. Allison

Mr. Allison

Pay vs Performance Disclosure

Adjusted EBITDA

Non-GAAP Measure Description

        (6)

        For the Company’s definition of adjusted EBITDA, refer to Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2023. The Company has determined that adjusted EBITDA is the financial performance measure that, in the Company’s assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used by the Company to link compensation actually paid to the Company’s named executive officers for the most recently completed fiscal year. In 2023, as discussed above in “Compensation Discussion and Analysis,” the Company reflected the impact of New York rate increases that were retroactive to services performed in prior years.

Pay vs Performance Disclosure

Total Shareholder Return

PEO | Fair Value of Stock Awards Reported in Summary Compensation Table [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (1,874,985)

$ (1,924,993)

$ (1,650,059)

$ (2,126,589)

PEO | Fair Value of Equity Compensation Granted in Current Year - Value at Year-End [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

1,664,522

2,719,261

1,271,923

2,441,678

PEO | Change in Fair Value from End of Prior Fiscal to End of Awards made in Prior Fiscal Years that were Unvested at End of Current Fiscal Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(151,093)

95,794

(833,209)

1,008,853

PEO | Change in Fair Value from End of Prior Fiscal Year to Vesting Date for Awards made in Prior Fiscal Years that Vested During Current Fiscal Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

138,575

(385,905)

(517,933)

(782,191)

Non-PEO NEO | Fair Value of Stock Awards Reported in Summary Compensation Table [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(524,990)

(507,696)

(941,938)

(567,086)

Non-PEO NEO | Fair Value of Equity Compensation Granted in Current Year - Value at Year-End [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

466,061

757,666

750,084

651,108

Non-PEO NEO | Change in Fair Value from End of Prior Fiscal to End of Awards made in Prior Fiscal Years that were Unvested at End of Current Fiscal Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(69,962)

42,688

(282,215)

431,475

Non-PEO NEO | Change in Fair Value from End of Prior Fiscal Year to Vesting Date for Awards made in Prior Fiscal Years that Vested During Current Fiscal Year [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 366

$ (74,395)

$ (110,856)

$ (308,630)