SEC Filings

RELIANCE STEEL & ALUMINUM CO filed this Form DEF 14A on 04/18/2000
Entire Document
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     Typically, the Committee receives recommendations from the executive
officers of the Company as to who should receive options and in what amounts and
then the Committee meets to review and discuss those recommendations. In making
its recommendations to the Board, the Committee considers the position of the
intended optionee, his or her importance to the Company's activities, the number
of options already granted to that individual and the option price or prices at
which those earlier granted options are exercisable, the total number of options
to be recommended for granting and the relative number of such recommended
option grants among the various individuals then under consideration for option
     The Committee generally does not consider the number of options granted by
other unrelated companies to their respective employees, nor has it ever sought
such information.
      Robert Henigson   Karl H. Loring   William I. Rumer  Leslie A. Waite

                             EXECUTIVE COMPENSATION
     The following table summarizes certain information concerning the
compensation paid by the Company during fiscal years 1997, 1998 and 1999 to its
chief executive officer and each of the other four most highly compensated
executive officers whose aggregate salary and bonus exceeded $100,000 for
services rendered in all capacities to the Company during fiscal 1999:
                           SUMMARY COMPENSATION TABLE

                                                                        LONG TERM COMPENSATION
                                         ANNUAL COMPENSATION           RESTRICTED    UNDERLYING
        NAME AND                   --------------------------------      STOCK        OPTIONS/         ALL OTHER
   ------------------      ----    --------    --------    --------    ----------    -----------    ---------------
<S>                        <C>     <C>         <C>         <C>         <C>           <C>            <C>
David H. Hannah..........  1999    $355,000    $451,321    $302,068(3)                 75,000           $9,547
  President and Chief      1998     325,000     331,946                                                  9,884
  Executive Officer        1997     288,750     294,766     343,508(4)                                   7,029
Gregg J. Mollins.........  1999    $255,000    $324,238                                75,000           $9,547
  Executive Vice           1998     235,000     240,071                                                  9,884
  President and Chief      1997     210,000     214,375    $343,508(4)                                   6,208
  Operating Officer
Karla R. McDowell........  1999    $150,000    $153,300    $139,669(3)                 30,000           $9,547
  Senior Vice President    1998     100,000      77,083                                                  8,711
  and Chief Financial      1997      89,250      68,797      65,945(4)                                   4,413
James P. MacBeth.........  1999    $150,000    $153,300                                28,875           $9,547
  Vice President,          1998     120,000     105,700                                 9,000            9,661
  Carbon Steel Operations  1997      93,000      52,200                                 4,500            7,851
William K. Sales, Jr. ...  1999    $150,000    $153,300                                28,875           $4,800
  Vice President, Non-     1998     140,000     108,092                                                  4,800
  Ferrous Operations(5)    1997      49,467      36,236                                18,000               --

(1) The amounts shown were paid under the Company's Key-Man Incentive Plan and
    also include Christmas gifts. Under the Company's Key-Man Incentive Plan,
    25% of the bonus is paid in Common Stock of the Company. For 1999, 1998 and
    1997, 100% of the Key-Man Incentive Plan bonus was paid in cash except to
    Messrs. MacBeth and Sales in 1997.
(2) Amounts represent allocations to the accounts of each of the named executive
    officers of contributions made to the Company's ESOP and the amount which
    represents the Company's matching contribution to its 401(k) savings plan.
(3) The 1999 amount represents the difference between the exercise price and
    fair market value at date of exercise of non-qualified stock options. See
    "Aggregated Options/SAR Exercises in Last Fiscal Year and FY-End Option/SAR
(4) The 1997 amount represents the difference between the exercise price and
    fair market value at date of exercise of non-qualified stock options.
(5) Mr. Sales joined the company in September 1997.