XML 19 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
$ / shares
Dec. 31, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Fiscal
Year
Summary
Compensation
Table Total for
PEO(1)
Compensation
Actually Paid
to PEO(1)
Average
Summary
Compensation
Table Total for
Non-
PEO Named
Executive
Officers(2)
Average
Compensation
Actually Paid to
Non-PEO Named
Executive
Officers(2)
Value of Initial Fixed $100
Investment Based On
Net Income
(Dollars in
thousands)
Adjusted
EPS
Company
Total
Shareholder
Return(3)
Index Total
Shareholder
Return(3)
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
2024
$1,568,037
$1,241,294
$1,313,585
$1,039,643
$65.89
$86.10
$28,476
$3.33
2023
1,156,478
1,408,737
985,660
1,229,380
81.80
108.43
34,352
2.98
2022
1,447,593
763,999
1,221,370
684,855
69.31
101.83
55,435
3.66
2021
1,743,163
2,270,639
1,467,329
1,880,164
101.61
150.65
90,954
4.54
2020
1,638,568
1,057,567
1,360,632
1,000,800
76.80
123.10
57,393
3.69
        
Company Selected Measure Name Adjusted EPS        
Named Executive Officers, Footnote (1)“PEO” refers to Eric P. Sills for each fiscal year presented (Columns (b) and (c)).“Other NEOs” refers to James J. Burke, Dale Burks, Nathan R. Iles and Carmine J. Broccole for 2024, 2023, 2022
and 2021, and Lawrence I. Sills, James J. Burke, Dale Burks, Nathan R. Iles and Carmine J. Broccole for 2020
(Columns (d) and (e)).
With respect to Columns (c) and (e), assumptions made in the valuation of the equity awards added or subtracted
in determining the amount of executive compensation actually paid for each of the fiscal years presented did not
differ materially from those disclosed in determining the grant date fair value. For a discussion of the valuation
assumptions, see Note 14 to our consolidated financial statements included in our Annual Report on Form 10-K
for the year ended December 31, 2024.
        
Peer Group Issuers, Footnote (3)Columns (f) and (g) state the cumulative total shareholder return, assuming the reinvestment of dividends, on the
Company’s Common Stock and the S&P 1500 Auto Parts & Equipment Index, respectively, as of the end of each
fiscal year presented, calculated based on the value of a $100 investment in the Company’s Common Stock and
the index on December 31, 2019. The S&P 1500 Auto Parts & Equipment Index is a combination of automotive
parts and equipment companies within the S&P 400, the S&P 500 and the S&P 600. It is the same index used by
the Company for purposes of satisfying Item 201 of Regulation S-K. 		       
PEO Total Compensation Amount $ 1,568,037 $ 1,156,478 $ 1,447,593 $ 1,743,163 $ 1,638,568
PEO Actually Paid Compensation Amount $ 1,241,294 1,408,737 763,999 2,270,639 1,057,567
Adjustment To PEO Compensation, Footnote Adjustments to Calculate Compensation Actually Paid to PEO (Column (c)) and Average Compensation Actually
Paid to Other NEOs (Column (e))
The table below describes certain adjustments required by SEC rules to calculate the CAP for our PEO (Column (c)) from
the SCT Total for our PEO (Column (b)).
2024
2023
2022
2021
2020
Adjustments for Stock Awards
SCT Total
$1,568,037
$1,156,478
$1,447,593
$1,743,163
$1,638,568
(Deduct): Aggregate grant date fair
value for stock awards included in SCT
Total for the covered fiscal year.
(119,787)
(100,200)
(105,520)
(138,440)
(144,280)
Add: Fair value at covered fiscal year end
of awards granted during the covered
fiscal year that were outstanding and
unvested at covered fiscal year end.
122,988
128,790
111,963
174,215
132,038
Add (Deduct): Change as of the covered
fiscal year end (from the end of the prior
fiscal year) in fair value of awards
granted in any prior fiscal year that were
outstanding and unvested at covered
fiscal year end.
(313,686)
194,984
(625,514)
442,646
(478,062)
Add (Deduct): Change as of the vesting
date (from the end of the prior fiscal
year) in fair value of awards granted in
any prior fiscal year for which all vesting
conditions were satisfied during the
covered fiscal year.
(16,258)
28,685
(64,523)
49,054
1,471
(Deduct): Fair value at the end of the
prior fiscal year of awards granted in any
prior fiscal year that failed to meet the
applicable vesting conditions during the
covered fiscal year.
-
-
-
—
(92,168)
CAP Amounts
$1,241,294
$1,408,737
$763,999
$2,270,639
$1,057,567
        
Non-PEO NEO Average Total Compensation Amount $ 1,313,585 985,660 1,221,370 1,467,329 1,360,632
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,039,643 1,229,380 684,855 1,880,164 1,000,800
Adjustment to Non-PEO NEO Compensation Footnote Adjustments to Calculate Compensation Actually Paid to PEO (Column (c)) and Average Compensation Actually
Paid to Other NEOs (Column (e))
The table below describes certain adjustments required by SEC rules to calculate the average CAP for our Other NEOs
(Column (e)) from the average SCT Total for our Other NEOs (Column (d)).
2024*
2023*
2022*
2021*
2020*
Adjustments for Stock Awards
SCT Total
$1,313,585
$985,660
$1,221,370
$1,467,329
$1,360,632
(Deduct): Aggregate grant date fair value for
stock awards included in SCT Total for the
covered fiscal year.
(154,600)
(131,318)
(148,556)
(196,162)
(191,186)
Add: Fair value at covered fiscal year end of
awards granted during the covered fiscal
year that were outstanding and unvested at
covered fiscal year end.
161,055
169,834
157,888
249,094
175,870
Add (Deduct): Change as of the covered
fiscal year end (from the end of the prior
fiscal year) in fair value of awards granted in
any prior fiscal year that were outstanding
and unvested at covered fiscal year end.
(265,779)
154,118
(484,055)
323,321
(266,325)
Add (Deduct): Change as of the vesting date
(from the end of the prior fiscal year) in fair
value of awards granted in any prior fiscal
year for which all vesting conditions were
satisfied during the covered fiscal year.
(14,617)
51,085
(61,792)
36,582
(9,065)
(Deduct): Fair value at the end of the prior
fiscal year of awards granted in any prior
fiscal year that failed to meet the applicable
vesting conditions during the covered fiscal
year.
-
-
-
—
(69,126)
CAP Amounts
$1,039,643
$1,229,380
$684,855
$1,880,164
$1,000,800
*Amounts presented are averages for the Other NEOs as a group.
        
Compensation Actually Paid vs. Total Shareholder Return
Pay v. Performance - CAP to TSR.jpg
        
Total Shareholder Return Amount $ 65.89 81.80 69.31 101.61 76.80
Peer Group Total Shareholder Return Amount 86.10 108.43 101.83 150.65 123.10
Net Income (Loss) $ 28,476,000 $ 34,352,000 $ 55,435,000 $ 90,954,000 $ 57,393,000
Company Selected Measure Amount | $ / shares 3.33 2.98 3.66 4.54 3.69
PEO Name Eric P. Sills        
Additional 402(v) Disclosure The measures “Return on Invested Capital” and “Organic Sales Growth” are financial measures used to determine
the achievement of the performance share awards granted to our PEO and Other NEOs in 2024. Return on Invested Capital
is calculated by dividing net earnings (before interest and after tax) by total capital invested. Organic Sales Growth is
calculated based on the year-over-year improvement in net sales, excluding the impact of acquisitions.
The measure “business growth” is a financial measure used to determine the achievement of a portion of the
annual cash incentive awards of our PEO and Other NEOs in 2024 based on MBO goals, which collectively represent
approximately 30% of the executive’s total target cash incentive award for the year. The measure is based on the aggregate
dollar value of new business awarded in the year, less business lost.Relationship Between Compensation Actually Paid and Performance
The following graphs show the relationships between the compensation actually paid (“CAP”) to our PEO and Other
NEOs, as calculated pursuant to Item 402(v) of Regulation S-K, and: (i) the Company’s Adjusted EPS (Column (i) of the
PvP Table), (ii) the Company’s net income (Column (h) of the PvP Table), and (iii) the cumulative total shareholder return
(“TSR”) on the Company’s Common Stock and the S&P 1500 Auto Parts & Equipment Index (Columns (f) and (g) of the
PvP Table, respectively). 		       
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted EPS        
Non-GAAP Measure Description The measures “Adjusted EPS” and “Adjusted Free Cash Flow Conversion” are financial measures used to
determine the achievement of a portion of the annual cash incentive awards of our PEO and Other NEOs in 2024, which
represent approximately 70% of the executive’s total target cash incentive award for the year. Adjusted EPS is calculated
by dividing net earnings attributable to the Company by the weighted average common shares outstanding during the
period, adjusted for significant, non-reoccurring and non-operational gains or losses to provide a view of the Company with
respect to ongoing operating results. Adjusted Free Cash Flow Conversion represents operating cash flow as a percentage
of net income, adjusted for significant, non-reoccurring and non-operational gains or losses. 		       
Measure:: 2          
Pay vs Performance Disclosure          
Name Adjusted Free Cash Flow Conversion        
Measure:: 3          
Pay vs Performance Disclosure          
Name Return on Invested Capital        
Measure:: 4          
Pay vs Performance Disclosure          
Name Organic Sales Growth        
Measure:: 5          
Pay vs Performance Disclosure          
Name Business growth        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (119,787) $ (100,200) $ (105,520) $ (138,440) $ (144,280)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 122,988 128,790 111,963 174,215 132,038
PEO | 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 (313,686) 194,984 (625,514) 442,646 (478,062)
PEO | 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 (16,258) 28,685 (64,523) 49,054 1,471
PEO | 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 0 (92,168)
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 (154,600) (131,318) (148,556) (196,162) (191,186)
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 161,055 169,834 157,888 249,094 175,870
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 (265,779) 154,118 (484,055) 323,321 (266,325)
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 (14,617) 51,085 (61,792) 36,582 (9,065)
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 $ 0 $ 0 $ 0 $ (69,126)