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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table

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, 2023 and 2024, 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)

 

 

2024

 

 

6,451,890

 

 

7,131,898

 

 

2,300,236

 

 

2,435,118

 

$

137.40

 

$

140.30

 

 

38,066,000

 

$

1.65

 

 

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

 

 

 

 

 

2024

 

W. Brett McGill

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

 

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”:

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

PEO

 

Average for Non-PEO NEOs

 

 

PEO

 

Average for Non-PEO NEOs

 

 

PEO

 

Average for Non-PEO NEOs

 

 

PEO

 

Average for Non-PEO NEOs

 

Summary Compensation Table - Total Compensation

 

6,451,890

 

 

2,300,236

 

 

 

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

 

(4,249,992

)

 

(938,999

)

 

 

(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

 

3,912,607

 

 

751,463

 

 

 

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

 

177,164

 

 

38,406

 

 

 

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

 

658,949

 

 

223,332

 

 

 

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

 

181,280

 

 

60,680

 

 

 

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

 

680,008

 

 

134,882

 

 

 

(105,960

)

 

30,294

 

 

 

(2,985,312

)

 

(888,169

)

 

 

4,544,619

 

 

1,567,439

 

Compensation Actually Paid

 

7,131,898

 

 

2,435,118

 

 

 

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, 2024. Each year of TSR and Peer Group TSR reflects what the cumulative value of $100 would be, if such amount were invested on September 30, 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 2024 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, 2024. 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, 2023 and 2024.

 

img242477880_7.jpg

 

img242477880_8.jpg

 

img242477880_9.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, 2024.

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.

For 2024, the following list represents the most important financial performance measures we used to link Compensation Actually Paid with our financial performance, as further discussed in the “Compensation Discussion and Analysis” section:

Diluted Net Income Per Common Share

Pretax Income

Aged Inventory Targets

Net Promoter Score

     
Company Selected Measure Name diluted net income per common share      
Named Executive Officers, Footnote

 

 

 

 

 

 

 

 

 

 

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)

 

 

2024

 

 

6,451,890

 

 

7,131,898

 

 

2,300,236

 

 

2,435,118

 

$

137.40

 

$

140.30

 

 

38,066,000

 

$

1.65

 

 

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

(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, 2024. Each year of TSR and Peer Group TSR reflects what the cumulative value of $100 would be, if such amount were invested on September 30, 2020.

     
PEO Total Compensation Amount $ 6,451,890 $ 6,006,138 $ 5,457,691 $ 3,971,985
PEO Actually Paid Compensation Amount $ 7,131,898 5,900,178 2,472,379 8,516,604
Adjustment To PEO Compensation, Footnote

(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 2024 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, 2024. 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 $ 2,300,236 2,071,320 1,807,465 1,514,094
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,435,118 2,101,614 919,296 3,081,533
Adjustment to Non-PEO NEO Compensation Footnote

(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 2024 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, 2024. 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

img242477880_9.jpg

     
Compensation Actually Paid vs. Net Income

img242477880_7.jpg

     
Compensation Actually Paid vs. Company Selected Measure

img242477880_8.jpg

     
Total Shareholder Return Vs Peer Group

img242477880_9.jpg

     
Tabular List, Table

For 2024, the following list represents the most important financial performance measures we used to link Compensation Actually Paid with our financial performance, as further discussed in the “Compensation Discussion and Analysis” section:

Diluted Net Income Per Common Share

Pretax Income

Aged Inventory Targets

Net Promoter Score

     
Total Shareholder Return Amount $ 137.4 127.85 116.05 189.01
Peer Group Total Shareholder Return Amount 140.3 98.36 86.45 114.29
Net Income (Loss) $ 38,066,000 $ 109,282,000 $ 197,989,000 $ 154,979,000
Company Selected Measure Amount 1.65 4.87 8.84 6.78
PEO Name W. Brett McGill 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”:

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

PEO

 

Average for Non-PEO NEOs

 

 

PEO

 

Average for Non-PEO NEOs

 

 

PEO

 

Average for Non-PEO NEOs

 

 

PEO

 

Average for Non-PEO NEOs

 

Summary Compensation Table - Total Compensation

 

6,451,890

 

 

2,300,236

 

 

 

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

 

(4,249,992

)

 

(938,999

)

 

 

(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

 

3,912,607

 

 

751,463

 

 

 

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

 

177,164

 

 

38,406

 

 

 

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

 

658,949

 

 

223,332

 

 

 

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

 

181,280

 

 

60,680

 

 

 

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

 

680,008

 

 

134,882

 

 

 

(105,960

)

 

30,294

 

 

 

(2,985,312

)

 

(888,169

)

 

 

4,544,619

 

 

1,567,439

 

Compensation Actually Paid

 

7,131,898

 

 

2,435,118

 

 

 

5,900,178

 

 

2,101,614

 

 

 

2,472,379

 

 

919,296

 

 

 

8,516,604

 

 

3,081,533

 

     
Measure:: 1        
Pay vs Performance Disclosure        
Name Diluted Net Income Per Common Share      
Measure:: 2        
Pay vs Performance Disclosure        
Name Pretax Income      
Measure:: 3        
Pay vs Performance Disclosure        
Name Aged Inventory Targets      
Measure:: 4        
Pay vs Performance Disclosure        
Name Net Promoter Score      
PEO        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 680,008 $ (105,960) $ (2,985,312) $ 4,544,619
PEO | Deduction For Amount Reported Under The Stock Awards And Option Awards Colums Of The Summary Compensation Table [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (4,249,992) (3,802,488) (2,771,009) (1,442,985)
PEO | Year End Fair Value of Equity Awards Granted in Fiscal Year and Unvested as of Fiscal Year End [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,912,607 2,853,863 1,967,242 2,886,212
PEO | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 177,164 179,831 (1,001,343) 1,545,208
PEO | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 658,949 480,583 199,206 292,236
PEO | 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        
Adjustment to Compensation, Amount 181,280 182,251 (1,379,408) 1,263,948
Non-PEO NEO        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 134,882 30,294 (888,169) 1,567,439
Non-PEO NEO | Deduction For Amount Reported Under The Stock Awards And Option Awards Colums Of The Summary Compensation Table [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (938,999) (961,995) (677,865) (416,993)
Non-PEO NEO | Year End Fair Value of Equity Awards Granted in Fiscal Year and Unvested as of Fiscal Year End [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 751,463 722,007 481,257 834,071
Non-PEO NEO | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 38,406 56,574 (330,350) 668,345
Non-PEO NEO | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 223,332 121,573 48,707 84,437
Non-PEO NEO | 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        
Adjustment to Compensation, Amount $ 60,680 $ 92,135 $ (409,918) $ 397,579