XML 25 R2.htm IDEA: XBRL DOCUMENT v3.23.1
Pay vs Performance Disclosure
Unit_pure in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding
exec
utive compensation for our principal executive officer (“PEO”) and
Non-PEO
NEOs and Company performance for the fiscal years listed below. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown.
 
   
Summary
Compensation
Table Total
for PEO (1)
($)
  
Compensation
Actually Paid
to PEO
(1)(2)(3)
($)
  
Average
Summary
Compensation
Table Total
for
Non-PEO

NEOs (1)
($)
  
Average
Compensation
Actually Paid
to
Non-PEO

NEOs
(1)(2)(3)
($)
   
Value of Initial
Fixed $100

Investment

based on: (4)
  
Net Income
($ Millions)
  
Adjusted
EBIT (5)
($ Millions)
Year
   
TSR
($)
   
Peer
Group
TSR
($)
2022
   10,467,712   9,153,853   1,110,338   1,053,973    203.51    100.08   (8.9)   52.2
                 
2021
   4,515,356   6,565,639   1,155,022   1,381,134    243.02    131.83   (8.6)   11.3
                 
2020
   2,898,033   4,106,999   900,561   1,059,643    154.37    124.20   2.4   10.8
 
  (1)
The PEO for each year presented was Thomas R. Stanton. The individuals comprising the
Non-PEO
NEOs for each year presented are listed below:
 
2022
   
2021
   
2020
     
Michael K. Foliano    Michael K. Foliano    Michael K. Foliano
     
James D. Wilson, Jr.    James D. Wilson, Jr.    James D. Wilson, Jr.
     
Ronald D. Centis    Ronald D. Centis    Ronald D. Centis
     
Raymond Harris    Raymond Harris    Eduard Scheiterer
     
Christoph Glingener          
As discussed in Compensation Discussion & Analysis, Mr. Glingener became an NEO in July 2022 in connection with the Business Combination. Compensation amounts reflected in this Pay Versus Performance Disclosure for Mr. Glingener reflect only the period from July 15, 2022 through December 31, 2022.
 
  (2)
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation
S-K
and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.
 
  (3)
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the
Non-PEO
NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table.
 
Year
   
Summary Compensation
Table Total for
Thomas R. Stanton
($)
   
Exclusion of Stock
Awards for
Thomas R. Stanton
($)
  
Inclusion of Equity
Values for
Thomas R. Stanton
($)
   
Compensation
Actually Paid to
Thomas R. Stanton
($)
2022
    10,467,712    (8,632,599)   7,318,740    9,153,853
         
2021
    4,515,356    (2,503,918)   4,554,201    6,565,639
         
2020
    2,898,033    (1,846,036)   3,055,002    4,106,999
 
Year
   
Average Summary
Compensation Table
Total for
Non-PEO

NEOs
($)
   
Average Exclusion of
Stock Awards for
Non-PEO
NEOs
($)
  
Average Inclusion
of Equity Values for
Non-PEO
NEOs
($)
   
Average
Compensation
Actually Paid to
Non-PEO NEOs

($)
2022
    1,110,338    (567,713)   511,348    1,053,973
         
2021
    1,155,022    (596,692)   822,804    1,381,134
         
2020
    900,561    (419,856)   578,938    1,059,643
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
 
Year
   
Year-End Fair Value
of Equity Awards
Granted During Year
That Remained
Unvested as of Last
Day of Year for
Thomas R. Stanton
($)
   
Change in Fair
Value from Last
Day of Prior Year
to Last Day of
Year of Unvested
Equity Awards for
Thomas R. Stanton
($)
   
Vesting-Date Fair
Value of Equity
Awards Granted
During Year that
Vested During
Year for
Thomas R. Stanton
($)
   
Change in Fair Value
from Last Day of Prior
Year to Vesting Date of
Unvested Equity
Awards that Vested
During Year for
Thomas R. Stanton
($)
   
Total -Inclusion of

Equity Values for
Thomas R. Stanton
($)
2022
    5,844,855    (1,132,391)    1,158,854    1,447,422    7,318,740
           
2021
    1,507,454    2,288,391    —    758,356    4,554,201
           
2020
    1,578,027    1,271,442    —    205,533    3,055,002
 
Year
   
Average Year-End
Fair Value of Equity
Awards Granted
During Year That
Remained Unvested as
of Last Day of Year
for
Non-PEO
NEOs
($)
   
Average Change in
Fair Value from Last
Day of Prior Year to
Last Day of Year of
Unvested Equity
Awards for
Non-PEO
NEOs
($)
   
Average Vesting-
Date Fair Value of
Equity Awards
Granted During
Year that Vested
During Year for
Non-PEO
NEOs
($)
   
Average Change in
Fair Value from
Last Day of Prior
Year to Vesting
Date of Unvested
Equity Awards that
Vested During Year
for
Non-PEO
NEOs
($)
   
Total - Average
Inclusion of
Equity Values for
Non-PEO
NEOs
($)
2022
    —    (228,123)    289,716    449,755    511,348
           
2021
    278,739    449,732    —    94,333    822,804
           
2020
    326,654    221,552    —    30,732    578,938
 
  (4)
The Peer Group TSR set forth in this table utilizes the NASDAQ Telecommunications Index (“NASDAQ Telecom Index”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation
S-K
included in our Annual Report for the year ended December 31, 2022. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the NASDAQ Telecom Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
 
  (5)
We determined Adjusted EBIT to be the most important financial performance measure us
ed t
o link Company performance to Compensation Actually Paid to our PEO and
Non-PEO
NEOs in 2022. Adjusted EBIT is a
non-GAAP
measure used in our VICC, and is defined as the Company’s earnings before interest and tax, determined based on the Company’s audited financial results, and adjusted to remove: any restructuring expenses; acquisition-related expenses and amortization of intangibles; stock-based compensation expense;
the non-cash change
in fair value of equity investments held in the Deferred Compensation Plan; and any
other non-GAAP exclusions
approved by the Compensation Committee. This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years.
   
Company Selected Measure Name Adjusted EBIT    
Named Executive Officers, Footnote [Text Block]
  (1)
The PEO for each year presented was Thomas R. Stanton. The individuals comprising the
Non-PEO
NEOs for each year presented are listed below:
 
2022
   
2021
   
2020
     
Michael K. Foliano    Michael K. Foliano    Michael K. Foliano
     
James D. Wilson, Jr.    James D. Wilson, Jr.    James D. Wilson, Jr.
     
Ronald D. Centis    Ronald D. Centis    Ronald D. Centis
     
Raymond Harris    Raymond Harris    Eduard Scheiterer
     
Christoph Glingener          
    
Peer Group Issuers, Footnote [Text Block] The Peer Group TSR set forth in this table utilizes the NASDAQ Telecommunications Index (“NASDAQ Telecom Index”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation
S-K
included in our Annual Report for the year ended December 31, 2022. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the NASDAQ Telecom Index, respectively. Historical stock performance is not necessarily indicative of future stock performance. 		   
PEO Total Compensation Amount $ 10,467,712 $ 4,515,356 $ 2,898,033
PEO Actually Paid Compensation Amount $ 9,153,853 6,565,639 4,106,999
Adjustment To PEO Compensation, Footnote [Text Block]
 
Year
   
Summary Compensation
Table Total for
Thomas R. Stanton
($)
   
Exclusion of Stock
Awards for
Thomas R. Stanton
($)
  
Inclusion of Equity
Values for
Thomas R. Stanton
($)
   
Compensation
Actually Paid to
Thomas R. Stanton
($)
2022
    10,467,712    (8,632,599)   7,318,740    9,153,853
         
2021
    4,515,356    (2,503,918)   4,554,201    6,565,639
         
2020
    2,898,033    (1,846,036)   3,055,002    4,106,999
 
 
Year
   
Year-End Fair Value
of Equity Awards
Granted During Year
That Remained
Unvested as of Last
Day of Year for
Thomas R. Stanton
($)
   
Change in Fair
Value from Last
Day of Prior Year
to Last Day of
Year of Unvested
Equity Awards for
Thomas R. Stanton
($)
   
Vesting-Date Fair
Value of Equity
Awards Granted
During Year that
Vested During
Year for
Thomas R. Stanton
($)
   
Change in Fair Value
from Last Day of Prior
Year to Vesting Date of
Unvested Equity
Awards that Vested
During Year for
Thomas R. Stanton
($)
   
Total -Inclusion of

Equity Values for
Thomas R. Stanton
($)
2022
    5,844,855    (1,132,391)    1,158,854    1,447,422    7,318,740
           
2021
    1,507,454    2,288,391    —    758,356    4,554,201
           
2020
    1,578,027    1,271,442    —    205,533    3,055,002
    
Non-PEO NEO Average Total Compensation Amount $ 1,110,338 1,155,022 900,561
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,053,973 1,381,134 1,059,643
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
Year
   
Average Summary
Compensation Table
Total for
Non-PEO

NEOs
($)
   
Average Exclusion of
Stock Awards for
Non-PEO
NEOs
($)
  
Average Inclusion
of Equity Values for
Non-PEO
NEOs
($)
   
Average
Compensation
Actually Paid to
Non-PEO NEOs

($)
2022
    1,110,338    (567,713)   511,348    1,053,973
         
2021
    1,155,022    (596,692)   822,804    1,381,134
         
2020
    900,561    (419,856)   578,938    1,059,643
 
Year
   
Average Year-End
Fair Value of Equity
Awards Granted
During Year That
Remained Unvested as
of Last Day of Year
for
Non-PEO
NEOs
($)
   
Average Change in
Fair Value from Last
Day of Prior Year to
Last Day of Year of
Unvested Equity
Awards for
Non-PEO
NEOs
($)
   
Average Vesting-
Date Fair Value of
Equity Awards
Granted During
Year that Vested
During Year for
Non-PEO
NEOs
($)
   
Average Change in
Fair Value from
Last Day of Prior
Year to Vesting
Date of Unvested
Equity Awards that
Vested During Year
for
Non-PEO
NEOs
($)
   
Total - Average
Inclusion of
Equity Values for
Non-PEO
NEOs
($)
2022
    —    (228,123)    289,716    449,755    511,348
           
2021
    278,739    449,732    —    94,333    822,804
           
2020
    326,654    221,552    —    30,732    578,938
    
Compensation Actually Paid vs. Total Shareholder Return [Text Block]
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, and the Company’s cumulative TSR over the three most recently completed fiscal years.
 
 
    
Compensation Actually Paid vs. Net Income [Text Block]
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, and our net income during the three most recently completed fiscal years.
 
    
Compensation Actually Paid vs. Company Selected Measure [Text Block]
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our
Non-PEO
NEOs, and Adjusted EBIT during the three most recently completed fiscal years.
 
 
    
Total Shareholder Return Vs Peer Group [Text Block]
The following chart compares our cumulative TSR over the three most recently completed fiscal years to that of the NASDAQ Telecommunications Index over the same period.
 
    
Tabular List [Table Text Block]
Tabular List of Most Important Financial Performance Measures
The following table presents the financial performance measures that the Company considers to have been the most important in linking Compensation Actually Paid to our PEO and other NEOs for 2022 to Company performance. The measures in this table are not ranked.
 
    Adjusted EBIT    
    Gross Margin    
    Relative TSR    
    
Total Shareholder Return Amount $ 203.51 243.02 154.37
Peer Group Total Shareholder Return Amount 100.08 131.83 124.2
Net Income (Loss) $ (8,900,000) $ (8,600,000) $ 2,400,000
Company Selected Measure Amount 52.2 11.3 10.8
PEO Name Thomas R. Stanton    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted EBIT    
Non-GAAP Measure Description [Text Block]
We determined Adjusted EBIT to be the most important financial performance measure us
ed t
o link Company performance to Compensation Actually Paid to our PEO and
Non-PEO
NEOs in 2022. Adjusted EBIT is a
non-GAAP
measure used in our VICC, and is defined as the Company’s earnings before interest and tax, determined based on the Company’s audited financial results, and adjusted to remove: any restructuring expenses; acquisition-related expenses and amortization of intangibles; stock-based compensation expense;
the non-cash change
in fair value of equity investments held in the Deferred Compensation Plan; and any
other non-GAAP exclusions
approved by the Compensation Committee. This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years.
   
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Gross Margin    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Relative TSR    
PEO [Member] | Exclusion of Stock Awards for Thomas R. Stanton [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (8,632,599) $ (2,503,918) $ (1,846,036)
PEO [Member] | Inclusion of Equity Values for Thomas R. Stanton [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 7,318,740 4,554,201 3,055,002
PEO [Member] | Year End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Thomas R. Stanton [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 5,844,855 1,507,454 1,578,027
PEO [Member] | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Thomas R. Stanton [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,132,391) 2,288,391 1,271,442
PEO [Member] | Vesting Date Fair Value of Equity Awards Granted During Year that Vested During Year for Thomas R. Stanton [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 1,158,854 0 0
PEO [Member] | Change In Fair Value From Last Day Of Prior Year To Vesting Date Of Unvested Equity Awards That Vested During Year For Thomas R. Stanton [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 1,447,422 758,356 205,533
Non-PEO NEO [Member] | Exclusion of Stock Awards for Thomas R. Stanton [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (567,713) (596,692) (419,856)
Non-PEO NEO [Member] | Inclusion of Equity Values for Thomas R. Stanton [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 511,348 822,804 578,938
Non-PEO NEO [Member] | Year End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Thomas R. Stanton [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 278,739 326,654
Non-PEO NEO [Member] | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Thomas R. Stanton [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (228,123) 449,732 221,552
Non-PEO NEO [Member] | Vesting Date Fair Value of Equity Awards Granted During Year that Vested During Year for Thomas R. Stanton [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 289,716 0 0
Non-PEO NEO [Member] | Change In Fair Value From Last Day Of Prior Year To Vesting Date Of Unvested Equity Awards That Vested During Year For Thomas R. Stanton [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 449,755 $ 94,333 $ 30,732