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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]

Pay versus Performance

Linking pay and performance is an important component of MarineMax's compensation philosophy and aligns to the interests of our shareholders. The Compensation Committee believes that the Company’s compensation plans and programs provide strong pay and performance alignment as demonstrated and described through the Compensation Discussion and Analysis section of this proxy statement. The following Pay versus Performance disclosure is calculated in a manner consistent with SEC rules.

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, we are providing the following table, which sets forth information concerning the compensation of our Principal Executive Officer ("PEO") and Non-Principal Executive Officers ("Non-PEO NEOs") for each of the fiscal years ended September 30, 2021, 2022 and 2023, and our financial performance for each such fiscal year:

 

 

 

 

 

 

 

 

 

 

Value of Initial Fixed $100 Investment Based On (c):

 

 

 

 

Year (a)

 

Summary Compensation Table Total for PEO

 

Compensation Actually Paid to PEO (b)

 

Average Summary Compensation Table Total for Non-PEO NEOs

 

Average Compensation Actually Paid to non-PEO NEOs (b)

 

Total Shareholder Return (c)

 

Peer Group Total Shareholder Return (c)

Net Income attributable to MarineMax, Inc.

 

Company Selected Measure: Diluted net income per common share (d)

 

 

2023

 

 

6,006,138

 

 

5,900,178

 

 

2,071,320

 

 

2,101,614

 

$

127.85

 

98.36

 

109,282,000

 

$

4.87

 

 

2022

 

 

5,457,691

 

 

2,472,379

 

 

1,807,465

 

 

919,296

 

$

116.05

 

86.45

 

197,989,000

 

$

8.84

 

 

2021

 

 

3,971,985

 

 

8,516,604

 

 

1,514,094

 

 

3,081,533

 

$

189.01

 

114.29

 

154,979,000

 

$

6.78

 

(a) NEOs included in the compensation columns reflect the following:

Year

 

PEO

Non-PEO NEOs

 

 

 

 

 

2023

 

W. Brett McGill

William H. McGill, Jr., Michael H. McLamb, Charles A. Cashman, Kyle G. Langbehn

 

2022

 

W. Brett McGill

William H. McGill, Jr., Michael H. McLamb, Charles A. Cashman, Anthony E. Cassella, Jr.

 

2021

 

W. Brett McGill

William H. McGill, Jr., Michael H. McLamb, Charles A. Cashman, Anthony E. Cassella, Jr.

 

(b) The Summary Compensation Table totals reported for the PEOs and the average of the Non-PEO NEOs for each fiscal year were subject to the following adjustments per Item 402(v)(2)(iii) of Regulation S-K to calculate "Compensation Actually Paid”:

 

2023

 

 

2022

 

 

2021

 

 

PEO

 

Average for Non-PEO NEOs

 

 

PEO

 

Average for Non-PEO NEOs

 

 

PEO

 

Average for Non-PEO NEOs

 

Summary Compensation Table - Total Compensation

 

6,006,138

 

 

2,071,320

 

 

 

5,457,691

 

 

1,807,465

 

 

 

3,971,985

 

 

1,514,094

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjustments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deduction for amount reported under the “Stock Awards” and “Option Awards” Columns of the Summary Compensation Table

 

(3,802,488

)

 

(961,995

)

 

 

(2,771,009

)

 

(677,865

)

 

 

(1,442,985

)

 

(416,993

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase/deduction for the Inclusion of Item 402(v) Equity Values (e):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year End Fair Value of Equity Awards Granted in Fiscal Year and Unvested as of Fiscal Year End

 

2,853,863

 

 

722,007

 

 

 

1,967,242

 

 

481,257

 

 

 

2,886,212

 

 

834,071

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Fiscal Years

 

179,831

 

 

56,574

 

 

 

(1,001,343

)

 

(330,350

)

 

 

1,545,208

 

 

668,345

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Fiscal Year

 

480,583

 

 

121,573

 

 

 

199,206

 

 

48,707

 

 

 

292,236

 

 

84,437

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in Fair Value from Prior Fiscal Year End to Vesting Date of Equity Awards Granted in Prior Years that Vested in the Fiscal Year

 

182,251

 

 

92,135

 

 

 

(1,379,408

)

 

(409,918

)

 

 

1,263,948

 

 

397,579

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value at the End of the Prior Fiscal Year of Equity Awards Granted in Prior Fiscal Years that Failed to Meet Vesting Conditions in the Fiscal Year

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation in the Summary Compensation Table for the Fiscal Year

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Adjustments

 

(105,960

)

 

30,294

 

 

 

(2,985,312

)

 

(888,169

)

 

 

4,544,619

 

 

1,567,439

 

Compensation Actually Paid

 

5,900,178

 

 

2,101,614

 

 

 

2,472,379

 

 

919,296

 

 

 

8,516,604

 

 

3,081,533

 

(c) TSR and Peer Group TSR: Peer Group TSR reflects the Dow Jones US Retail Total Stock Market Index as reflected in our Annual Report on the Form 10-K pursuant to Item 201(e) of Regulation S-K for the fiscal year ended September 30, 2023. Each year of TSR and Peer Group TSR reflects what the cumulative value of $100 would be, if such amount were invested on October 1, 2020.

(d) The Company has identified diluted net income per common share as the company-selected measure for the pay versus performance disclosure, as it represents the most important financial performance measure used to link compensation actually paid to the PEO and the Non-PEO NEOs in 2023 to the Company’s performance.

(e) The amounts shown in this table represent the fair value of RSU awards determined in accordance with ASC 718. The assumptions used in determining the fair value of stock option and restricted stock awards are set forth in Note 14 to the Consolidated Financial Statements in our Form 10-K for the year ended September 30, 2023. Each named executive officer forfeits the unvested portion, if any, of the officer’s RSUs if the officer’s service to our

Company is terminated for any reason, except upon death, as may otherwise be determined by the Board of Directors or as provided in an employment agreement.

 

Narrative Disclosure to Pay Versus Performance Table

Relationship Between Financial Performance Measures

The graphs below compare the compensation actually paid to our PEO and the average of the compensation actually paid to our remaining NEOs, with (i) our net income, (ii) our diluted net income per common share, and (iii) our

cumulative TSR, as well as the relationship between our TSR and the Peer Group TSR, in each case, for the fiscal years ended September 30, 2021, 2022 and 2023.

 

img241554359_6.jpg 

 

img241554359_7.jpg 

 

img241554359_8.jpg 

 

 

Pay Versus Performance Tabular List

We believe diluted net income per common share represents the most important financial performance measure used by us to link compensation actually paid to our NEOs for the fiscal year ended September 30, 2023.

In the “Compensation Discussion and Analysis” section of this proxy statement, we provide greater detail on the elements of our executive compensation program and our “pay-for-performance” compensation philosophy. We believe the Company’s executive compensation program appropriately rewards our PEO and the Non-PEO NEOs for Company and individual performance, promotes retention of our senior leadership team and supports long-term value creation for our stockholders.

   
Company Selected Measure Name diluted net income per common share    
Named Executive Officers, Footnote [Text Block]

 

 

 

 

 

 

 

 

 

 

Value of Initial Fixed $100 Investment Based On (c):

 

 

 

 

Year (a)

 

Summary Compensation Table Total for PEO

 

Compensation Actually Paid to PEO (b)

 

Average Summary Compensation Table Total for Non-PEO NEOs

 

Average Compensation Actually Paid to non-PEO NEOs (b)

 

Total Shareholder Return (c)

 

Peer Group Total Shareholder Return (c)

Net Income attributable to MarineMax, Inc.

 

Company Selected Measure: Diluted net income per common share (d)

 

 

2023

 

 

6,006,138

 

 

5,900,178

 

 

2,071,320

 

 

2,101,614

 

$

127.85

 

98.36

 

109,282,000

 

$

4.87

 

 

2022

 

 

5,457,691

 

 

2,472,379

 

 

1,807,465

 

 

919,296

 

$

116.05

 

86.45

 

197,989,000

 

$

8.84

 

 

2021

 

 

3,971,985

 

 

8,516,604

 

 

1,514,094

 

 

3,081,533

 

$

189.01

 

114.29

 

154,979,000

 

$

6.78

 

   
Peer Group Issuers, Footnote [Text Block]

(c) TSR and Peer Group TSR: Peer Group TSR reflects the Dow Jones US Retail Total Stock Market Index as reflected in our Annual Report on the Form 10-K pursuant to Item 201(e) of Regulation S-K for the fiscal year ended September 30, 2023. Each year of TSR and Peer Group TSR reflects what the cumulative value of $100 would be, if such amount were invested on October 1, 2020.

   
PEO Total Compensation Amount $ 6,006,138 $ 5,457,691 $ 3,971,985
PEO Actually Paid Compensation Amount $ 5,900,178 2,472,379 8,516,604
Adjustment To PEO Compensation, Footnote [Text Block]

(d) The Company has identified diluted net income per common share as the company-selected measure for the pay versus performance disclosure, as it represents the most important financial performance measure used to link compensation actually paid to the PEO and the Non-PEO NEOs in 2023 to the Company’s performance.

(e) The amounts shown in this table represent the fair value of RSU awards determined in accordance with ASC 718. The assumptions used in determining the fair value of stock option and restricted stock awards are set forth in Note 14 to the Consolidated Financial Statements in our Form 10-K for the year ended September 30, 2023. Each named executive officer forfeits the unvested portion, if any, of the officer’s RSUs if the officer’s service to our

Company is terminated for any reason, except upon death, as may otherwise be determined by the Board of Directors or as provided in an employment agreement.

   
Non-PEO NEO Average Total Compensation Amount $ 2,071,320 1,807,465 1,514,094
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,101,614 919,296 3,081,533
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

(d) The Company has identified diluted net income per common share as the company-selected measure for the pay versus performance disclosure, as it represents the most important financial performance measure used to link compensation actually paid to the PEO and the Non-PEO NEOs in 2023 to the Company’s performance.

(e) The amounts shown in this table represent the fair value of RSU awards determined in accordance with ASC 718. The assumptions used in determining the fair value of stock option and restricted stock awards are set forth in Note 14 to the Consolidated Financial Statements in our Form 10-K for the year ended September 30, 2023. Each named executive officer forfeits the unvested portion, if any, of the officer’s RSUs if the officer’s service to our

Company is terminated for any reason, except upon death, as may otherwise be determined by the Board of Directors or as provided in an employment agreement.

   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

img241554359_8.jpg 

   
Compensation Actually Paid vs. Net Income [Text Block]

img241554359_6.jpg 

   
Compensation Actually Paid vs. Company Selected Measure [Text Block]

img241554359_7.jpg 

   
Total Shareholder Return Vs Peer Group [Text Block]

img241554359_8.jpg 

   
Tabular List [Table Text Block]

Pay Versus Performance Tabular List

We believe diluted net income per common share represents the most important financial performance measure used by us to link compensation actually paid to our NEOs for the fiscal year ended September 30, 2023.

   
Total Shareholder Return Amount $ 127.85 116.05 189.01
Peer Group Total Shareholder Return Amount 98.36 86.45 114.29
Net Income (Loss) $ 109,282,000 $ 197,989,000 $ 154,979,000
Company Selected Measure Amount 4.87 8.84 6.78
PEO Name W. Brett McGill W. Brett McGill W. Brett McGill
Compensation Actually Paid Adjustment [Table Text Block]

(b) The Summary Compensation Table totals reported for the PEOs and the average of the Non-PEO NEOs for each fiscal year were subject to the following adjustments per Item 402(v)(2)(iii) of Regulation S-K to calculate "Compensation Actually Paid”:

 

2023

 

 

2022

 

 

2021

 

 

PEO

 

Average for Non-PEO NEOs

 

 

PEO

 

Average for Non-PEO NEOs

 

 

PEO

 

Average for Non-PEO NEOs

 

Summary Compensation Table - Total Compensation

 

6,006,138

 

 

2,071,320

 

 

 

5,457,691

 

 

1,807,465

 

 

 

3,971,985

 

 

1,514,094

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjustments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deduction for amount reported under the “Stock Awards” and “Option Awards” Columns of the Summary Compensation Table

 

(3,802,488

)

 

(961,995

)

 

 

(2,771,009

)

 

(677,865

)

 

 

(1,442,985

)

 

(416,993

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase/deduction for the Inclusion of Item 402(v) Equity Values (e):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year End Fair Value of Equity Awards Granted in Fiscal Year and Unvested as of Fiscal Year End

 

2,853,863

 

 

722,007

 

 

 

1,967,242

 

 

481,257

 

 

 

2,886,212

 

 

834,071

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Fiscal Years

 

179,831

 

 

56,574

 

 

 

(1,001,343

)

 

(330,350

)

 

 

1,545,208

 

 

668,345

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Fiscal Year

 

480,583

 

 

121,573

 

 

 

199,206

 

 

48,707

 

 

 

292,236

 

 

84,437

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in Fair Value from Prior Fiscal Year End to Vesting Date of Equity Awards Granted in Prior Years that Vested in the Fiscal Year

 

182,251

 

 

92,135

 

 

 

(1,379,408

)

 

(409,918

)

 

 

1,263,948

 

 

397,579

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value at the End of the Prior Fiscal Year of Equity Awards Granted in Prior Fiscal Years that Failed to Meet Vesting Conditions in the Fiscal Year

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation in the Summary Compensation Table for the Fiscal Year

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Adjustments

 

(105,960

)

 

30,294

 

 

 

(2,985,312

)

 

(888,169

)

 

 

4,544,619

 

 

1,567,439

 

Compensation Actually Paid

 

5,900,178

 

 

2,101,614

 

 

 

2,472,379

 

 

919,296

 

 

 

8,516,604

 

 

3,081,533

 

   
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name diluted net income per common share    
PEO [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (105,960) $ (2,985,312) $ 4,544,619
PEO [Member] | Deduction For Amount Reported Under The Stock Awards And Option Awards Colums Of The Summary Compensation Table [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (3,802,488) (2,771,009) (1,442,985)
PEO [Member] | Year End Fair Value of Equity Awards Granted in Fiscal Year and Unvested as of Fiscal Year End [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 2,853,863 1,967,242 2,886,212
PEO [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Fiscal Years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 179,831 (1,001,343) 1,545,208
PEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 480,583 199,206 292,236
PEO [Member] | Change in Fair Value from Prior Fiscal Year End to Vesting Date of Equity Awards Granted in Prior Years that Vested in the Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 182,251 (1,379,408) 1,263,948
Non-PEO NEO [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 30,294 (888,169) 1,567,439
Non-PEO NEO [Member] | Deduction For Amount Reported Under The Stock Awards And Option Awards Colums Of The Summary Compensation Table [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (961,995) (677,865) (416,993)
Non-PEO NEO [Member] | Year End Fair Value of Equity Awards Granted in Fiscal Year and Unvested as of Fiscal Year End [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 722,007 481,257 834,071
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Fiscal Years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 56,574 (330,350) 668,345
Non-PEO NEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 121,573 48,707 84,437
Non-PEO NEO [Member] | Change in Fair Value from Prior Fiscal Year End to Vesting Date of Equity Awards Granted in Prior Years that Vested in the Fiscal Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 92,135 $ (409,918) $ 397,579