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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

Pay Versus Performance

As required by Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid, as computed under SEC rules, and certain financial performance of the Company. For more information about the Company’s executive compensation program, see the “Executive Compensation - Compensation Discussion and Analysis” and “Executive Compensation Tables.” In 2021, we closed on a transaction with LSB Funding, the former holder of $310 million of LSB Series E-1 and F-1 Preferred Stock, exchanging those preferred shares for shares of our common stock (the “Exchange Transaction”). The successful completion of the Exchange Transaction had the effect of upgrading the Company’s credit rating, significantly reducing the cost of capital, and enhancing the Company’s liquidity. As a result, our share price increased from $2.61 per share at the end of 2020 to $11.05 per share at the end of 2021. The “compensation actually paid” disclosures for 2021 below include the revaluation of all unvested and vested equity awards from the end of 2020 to the end of 2021.

 

 

 

 

 

 

 

 

 

Value of Initial Fixed $100 Investment Based on

 

 

 

 

 

Fiscal Year

Summary Compensation Table Total for PEO ($)

 

Compensation Actually Paid to PEO ($)

 

Average Summary Compensation Table Total for Non-PEO NEOs ($)

 

Average Compensation Actually Paid to Non-PEO NEOs ($)

 

Total Shareholder Return
($)

 

Peer Group Total Shareholder
Return
($)

 

Net Income (Loss)
(in Thousands)
($)

 

Adjusted EBITDA
(in Thousands)
($)

 

 

(1)

 

(2)

 

(3)

 

(4)

 

(5)

 

(6)

 

(7)

 

(8)

 

2025

 

5,327,795

 

 

5,319,349

 

 

1,288,353

 

 

1,283,719

 

 

326

 

 

115

 

 

24,613

 

 

161,546

 

2024

 

4,344,104

 

 

2,674,279

 

 

955,626

 

 

730,608

 

 

291

 

 

112

 

 

(19,353

)

 

129,520

 

2023

 

4,474,648

 

 

957,866

 

 

1,082,744

 

 

490,983

 

 

357

 

 

111

 

 

27,923

 

 

132,664

 

2022

 

3,697,513

 

 

5,573,078

 

 

1,102,427

 

 

1,406,020

 

 

510

 

 

98

 

 

230,347

 

 

414,653

 

2021

 

3,482,297

 

 

17,249,052

 

 

1,034,033

 

 

2,716,739

 

 

424

 

 

123

 

 

43,545

 

 

191,031

 

(1)
The dollar amounts reported for Mr. Behrman, our Principal Executive Officer (“PEO), under “Summary Compensation Table Total for PEO” represent the amount of total compensation reported for Mr. Behrman for each corresponding year in the “Total” column of the Summary Compensation Table as reflected on page 49.
(2)
The dollar amounts reported for Mr. Behrman under “Compensation Actually Paid to PEO” represent the amount of “compensation actually paid” to Mr. Behrman, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Behrman during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the adjustments in the table below were made to Mr. Behrman's total compensation for each year to determine the compensation actually paid. The valuation assumptions used to calculate the fair values of time-based restricted stock units and performance-based restricted stock units include the stock price as of the applicable measuring date and, in the case of performance-based restricted stock units, the probable outcome of the performance conditions as of the applicable measuring date (or actual performance results approved by the Compensation Committee as of the applicable vesting date).

 

 

Mark Behrman

 

2025
($)

2024
($)

2023
($)

2022
($)

2021
($)

Total Compensation as reported in Summary Compensation Table

5,327,795

4,344,104

4,474,648

3,697,513

3,482,297

Fair value of equity awards granted during fiscal year

(3,448,209)

(3,083,451)

(3,146,428)

(2,089,578)

(1,787,997)

Fair value of equity compensation granted in current year—value at end of year-end

3,030,502

2,827,812

2,049,569

2,577,248

9,194,948

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

280,561

(507,579)

(234,413)

282,992

4,999,192

Change in fair value from end of prior fiscal year to end of current fiscal year for awards made in prior fiscal years that were unvested at end of current fiscal year

203,704

(906,607)

(2,185,510)

1,104,903

1,360,612

Dividends or other earnings paid on stock or options awards in the covered fiscal year prior to the vesting date that are not otherwise reflected in Fair Value or included in the total compensation for the covered fiscal year

Fair value of awards forfeited in current fiscal year determined at end of prior fiscal year

(75,004)

Compensation Actually Paid to PEO

5,319,349

2,674,279

957,866

5,573,078

17,249,052

 

(3)
The dollar amounts reported under “Average Summary Compensation Total for non-PEO NEOs” represent the average of the amounts reported for the Company’s non-PEO NEOs as a group (excluding any individual serving as our PEO for such year) in the “Total” column of the Summary Compensation Table in each applicable year. The non-PEO NEOs included for purposes of calculating the average amounts in 2025 were Ms. Maguire, Mr. Foster, Mr. Bemis, and Mr. Renwick. The non-PEO NEOs included in 2024 were Ms. Maguire, Ms. Carver, Mr. Foster, Mr. John Burns (formerly an NEO, now retired), and Mr. Renwick. The non-PEO NEOs included in 2021-2023 were Ms. Maguire, Mr. Foster, Mr. Burns, and Mr. Renwick. Ms. Carver was included in 2021 as a non-PEO NEO.
(4)
The dollar amounts reported under “Average Compensation Actually Paid to non-PEO NEOs” represent the average amount of “compensation actually paid” to the non-PEO NEOs as a group (excluding the PEO), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the non-PEO NEOs as a group during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the adjustments in the table below were made to the non-PEO NEOs’ total compensation for each year to determine the compensation actually paid. The equity award adjustments for each applicable year reflect the same methodology described above for Mr. Behrman.

 

Non-PEO NEO Averages

 

 

2025
($)

 

2024
($)

 

2023
($)

 

2022
($)

 

2021
($)

 

Total Compensation as reported in Summary Compensation Table

 

1,288,353

 

 

955,626

 

 

1,082,744

 

 

1,102,427

 

 

1,034,033

 

Fair value of equity awards granted during fiscal year

 

(507,613

)

 

(428,919

)

 

(472,778

)

 

(369,167

)

 

(258,495

)

Fair value of equity compensation granted in current year—value at end of year-end

 

446,122

 

 

393,358

 

 

307,966

 

 

455,321

 

 

1,307,445

 

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

 

37,742

 

 

(65,517

)

 

(50,958

)

 

10,402

 

 

414,281

 

Change in fair value from end of prior fiscal year to end of current fiscal year for awards made in prior fiscal years that were unvested at end of current fiscal year

 

29,617

 

 

(123,940

)

 

(375,991

)

 

207,037

 

 

219,475

 

Dividends or other earnings paid on stock or options awards in the covered fiscal year prior to the vesting date that are not otherwise reflected in Fair Value or included in the total compensation for the covered fiscal year

 

 

 

 

 

 

 

 

 

 

Fair value of awards forfeited in current fiscal year determined at end of prior fiscal year

 

(10,502

)

 

 

 

 

 

 

 

 

Compensation Actually Paid to Non-PEO NEOs

 

1,283,719

 

 

730,608

 

 

490,983

 

 

1,406,020

 

 

2,716,739

 

 

(5)
Represents the cumulative total shareholder return on the Company’s common stock and is based on an initial investment of $100 on December 31, 2020, the last trading day of 2020, through the last trading day for the applicable year in the table, and is calculated by taking the difference between the Company’s share price at the end and the beginning of the measurement period, and dividing by the share price at the beginning of the measurement period.
(6)
Please see “Compensation Framework - Compensation Peer Group” for the list of companies comprising our peer group used for the Peer Group Total Shareholder Return in this table. The Peer Group Total Shareholder Return for all five years presented in this table is based on the 2025 peer group used to determine compensation as listed above under “Compensation Peer Group”. The peer group in 2024 consisted of: Advansix Inc., American Vanguard Corporation, Balchem Corporation, Compass Minerals International, Inc., CSW Industrials, Inc., CVR Partners, LP, Ecovyst, Inc., Hawkins, Inc., Ingevity Corporation, Intrepid Potash, Inc., Orion Engineered Carbons S.A., Quaker Chemical Corporation. Rex American Resources Corp., Rogers Corporation, and US Silica Holdings, Inc. The total shareholder return for our former peer group (excluding US Silica Holdings, Inc. which was delisted in 2024) would have been $123, $97, $109, $110 and $111 for 2021, 2022, 2023, 2024 and 2025, respectively. Our compensation peer group changed from fiscal year 2024 to 2025 upon recommendation of the Compensation Committee’s compensation consultants, which included recommendations to replace any delisted peer companies.
(7)
The dollar amounts reported represent the amount of net income of the Company reported in our Annual Report on Form 10-K for the applicable fiscal year.
(8)
Our Adjusted EBITDA measure is derived from net income (loss) after making adjustments to add back net interest expense, depreciation
and amortization, provision for income taxes, stock-based compensation expense, certain legal fees and turnaround costs, and to subtract
gains on extinguishment of debt
.
       
Company Selected Measure Name Adjusted EBITDA        
Named Executive Officers, Footnote The dollar amounts reported for Mr. Behrman, our Principal Executive Officer (“PEO), under “Summary Compensation Table Total for PEO” represent the amount of total compensation reported for Mr. Behrman for each corresponding year in the “Total” column of the Summary Compensation Table as reflected on page 49.        
Peer Group Issuers, Footnote Please see “Compensation Framework - Compensation Peer Group” for the list of companies comprising our peer group used for the Peer Group Total Shareholder Return in this table. The Peer Group Total Shareholder Return for all five years presented in this table is based on the 2025 peer group used to determine compensation as listed above under “Compensation Peer Group”. The peer group in 2024 consisted of: Advansix Inc., American Vanguard Corporation, Balchem Corporation, Compass Minerals International, Inc., CSW Industrials, Inc., CVR Partners, LP, Ecovyst, Inc., Hawkins, Inc., Ingevity Corporation, Intrepid Potash, Inc., Orion Engineered Carbons S.A., Quaker Chemical Corporation. Rex American Resources Corp., Rogers Corporation, and US Silica Holdings, Inc. The total shareholder return for our former peer group (excluding US Silica Holdings, Inc. which was delisted in 2024) would have been $123, $97, $109, $110 and $111 for 2021, 2022, 2023, 2024 and 2025, respectively.        
Changed Peer Group, Footnote Our compensation peer group changed from fiscal year 2024 to 2025 upon recommendation of the Compensation Committee’s compensation consultants, which included recommendations to replace any delisted peer companies.        
PEO Total Compensation Amount $ 5,327,795 $ 4,344,104 $ 4,474,648 $ 3,697,513 $ 3,482,297
PEO Actually Paid Compensation Amount $ 5,319,349 2,674,279 957,866 5,573,078 17,249,052
Adjustment To PEO Compensation, Footnote
(2)
The dollar amounts reported for Mr. Behrman under “Compensation Actually Paid to PEO” represent the amount of “compensation actually paid” to Mr. Behrman, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Behrman during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the adjustments in the table below were made to Mr. Behrman's total compensation for each year to determine the compensation actually paid. The valuation assumptions used to calculate the fair values of time-based restricted stock units and performance-based restricted stock units include the stock price as of the applicable measuring date and, in the case of performance-based restricted stock units, the probable outcome of the performance conditions as of the applicable measuring date (or actual performance results approved by the Compensation Committee as of the applicable vesting date).

 

 

Mark Behrman

 

2025
($)

2024
($)

2023
($)

2022
($)

2021
($)

Total Compensation as reported in Summary Compensation Table

5,327,795

4,344,104

4,474,648

3,697,513

3,482,297

Fair value of equity awards granted during fiscal year

(3,448,209)

(3,083,451)

(3,146,428)

(2,089,578)

(1,787,997)

Fair value of equity compensation granted in current year—value at end of year-end

3,030,502

2,827,812

2,049,569

2,577,248

9,194,948

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

280,561

(507,579)

(234,413)

282,992

4,999,192

Change in fair value from end of prior fiscal year to end of current fiscal year for awards made in prior fiscal years that were unvested at end of current fiscal year

203,704

(906,607)

(2,185,510)

1,104,903

1,360,612

Dividends or other earnings paid on stock or options awards in the covered fiscal year prior to the vesting date that are not otherwise reflected in Fair Value or included in the total compensation for the covered fiscal year

Fair value of awards forfeited in current fiscal year determined at end of prior fiscal year

(75,004)

Compensation Actually Paid to PEO

5,319,349

2,674,279

957,866

5,573,078

17,249,052

 

       
Non-PEO NEO Average Total Compensation Amount $ 1,288,353 955,626 1,082,744 1,102,427 1,034,033
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,283,719 730,608 490,983 1,406,020 2,716,739
Adjustment to Non-PEO NEO Compensation Footnote
(3)
The dollar amounts reported under “Average Summary Compensation Total for non-PEO NEOs” represent the average of the amounts reported for the Company’s non-PEO NEOs as a group (excluding any individual serving as our PEO for such year) in the “Total” column of the Summary Compensation Table in each applicable year. The non-PEO NEOs included for purposes of calculating the average amounts in 2025 were Ms. Maguire, Mr. Foster, Mr. Bemis, and Mr. Renwick. The non-PEO NEOs included in 2024 were Ms. Maguire, Ms. Carver, Mr. Foster, Mr. John Burns (formerly an NEO, now retired), and Mr. Renwick. The non-PEO NEOs included in 2021-2023 were Ms. Maguire, Mr. Foster, Mr. Burns, and Mr. Renwick. Ms. Carver was included in 2021 as a non-PEO NEO.
(4)
The dollar amounts reported under “Average Compensation Actually Paid to non-PEO NEOs” represent the average amount of “compensation actually paid” to the non-PEO NEOs as a group (excluding the PEO), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the non-PEO NEOs as a group during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the adjustments in the table below were made to the non-PEO NEOs’ total compensation for each year to determine the compensation actually paid. The equity award adjustments for each applicable year reflect the same methodology described above for Mr. Behrman.

 

Non-PEO NEO Averages

 

 

2025
($)

 

2024
($)

 

2023
($)

 

2022
($)

 

2021
($)

 

Total Compensation as reported in Summary Compensation Table

 

1,288,353

 

 

955,626

 

 

1,082,744

 

 

1,102,427

 

 

1,034,033

 

Fair value of equity awards granted during fiscal year

 

(507,613

)

 

(428,919

)

 

(472,778

)

 

(369,167

)

 

(258,495

)

Fair value of equity compensation granted in current year—value at end of year-end

 

446,122

 

 

393,358

 

 

307,966

 

 

455,321

 

 

1,307,445

 

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

 

37,742

 

 

(65,517

)

 

(50,958

)

 

10,402

 

 

414,281

 

Change in fair value from end of prior fiscal year to end of current fiscal year for awards made in prior fiscal years that were unvested at end of current fiscal year

 

29,617

 

 

(123,940

)

 

(375,991

)

 

207,037

 

 

219,475

 

Dividends or other earnings paid on stock or options awards in the covered fiscal year prior to the vesting date that are not otherwise reflected in Fair Value or included in the total compensation for the covered fiscal year

 

 

 

 

 

 

 

 

 

 

Fair value of awards forfeited in current fiscal year determined at end of prior fiscal year

 

(10,502

)

 

 

 

 

 

 

 

 

Compensation Actually Paid to Non-PEO NEOs

 

1,283,719

 

 

730,608

 

 

490,983

 

 

1,406,020

 

 

2,716,739

 

       
Equity Valuation Assumption Difference, Footnote The valuation assumptions used to calculate the fair values of time-based restricted stock units and performance-based restricted stock units include the stock price as of the applicable measuring date and, in the case of performance-based restricted stock units, the probable outcome of the performance conditions as of the applicable measuring date (or actual performance results approved by the Compensation Committee as of the applicable vesting date).

 

 

Mark Behrman

 

2025
($)

2024
($)

2023
($)

2022
($)

2021
($)

Total Compensation as reported in Summary Compensation Table

5,327,795

4,344,104

4,474,648

3,697,513

3,482,297

Fair value of equity awards granted during fiscal year

(3,448,209)

(3,083,451)

(3,146,428)

(2,089,578)

(1,787,997)

Fair value of equity compensation granted in current year—value at end of year-end

3,030,502

2,827,812

2,049,569

2,577,248

9,194,948

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

280,561

(507,579)

(234,413)

282,992

4,999,192

Change in fair value from end of prior fiscal year to end of current fiscal year for awards made in prior fiscal years that were unvested at end of current fiscal year

203,704

(906,607)

(2,185,510)

1,104,903

1,360,612

Dividends or other earnings paid on stock or options awards in the covered fiscal year prior to the vesting date that are not otherwise reflected in Fair Value or included in the total compensation for the covered fiscal year

Fair value of awards forfeited in current fiscal year determined at end of prior fiscal year

(75,004)

Compensation Actually Paid to PEO

5,319,349

2,674,279

957,866

5,573,078

17,249,052

 

       
Compensation Actually Paid vs. Total Shareholder Return

img105042022_27.gif

       
Compensation Actually Paid vs. Net Income

img105042022_28.gif

       
Compensation Actually Paid vs. Company Selected Measure

img105042022_29.gif

       
Total Shareholder Return Vs Peer Group

img105042022_30.gif

       
Tabular List, Table

Below in an unranked order are the most important financial performance measures used for the fiscal year ended December 31, 2025.

Metric

Alignment

Adjusted EBITDA

Adjusted EBITDA is a cornerstone of our short-term (annual) incentive plan. It is the primary metric by which we measure our profitability and by which investors measure our performance.

Total Shareholder Return

Certain performance-based equity awards under our long-term incentive plan, which are measured and vest over a three year period, are based on absolute total shareholder return (awards granted in 2022) or relative total shareholder return (awards granted in 2023, 2024 and 2025).

Environmental, Health & Safety

We utilize an internal environmental, health and safety metric which incorporates the number of injuries, safety incidents and reportable environmental events as a component of our short-term incentive plan (see page 41).

       
Total Shareholder Return Amount $ 326 291 357 510 424
Peer Group Total Shareholder Return Amount 115 112 111 98 123
Net Income (Loss) $ 24,613,000 $ (19,353,000) $ 27,923,000 $ 230,347,000 $ 43,545,000
Company Selected Measure Amount 161,546 129,520 132,664 414,653 191,031
PEO Name Mr. Behrman        
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted EBITDA        
Measure:: 2          
Pay vs Performance Disclosure          
Name Total Shareholder Return        
Measure:: 3          
Pay vs Performance Disclosure          
Name Environmental, Health & Safety        
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 $ (3,448,209) $ (3,083,451) $ (3,146,428) $ (2,089,578) $ (1,787,997)
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 3,030,502 2,827,812 2,049,569 2,577,248 9,194,948
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 280,561 (507,579) (234,413) 282,992 4,999,192
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 203,704 (906,607) (2,185,510) 1,104,903 1,360,612
PEO | 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 (75,004)        
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 (507,613) (428,919) (472,778) (369,167) (258,495)
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 446,122 393,358 307,966 455,321 1,307,445
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 37,742 (65,517) (50,958) 10,402 414,281
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 29,617 $ (123,940) $ (375,991) $ 207,037 $ 219,475
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 $ (10,502)