SEC Filings

DEF 14A
RELIANCE STEEL & ALUMINUM CO filed this Form DEF 14A on 04/05/2019
Entire Document
 

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In 2018, 60% of the restricted stock unit awards granted to the other NEOs were performance-based and subject to the same three-year ROA performance objectives. The vesting for the remaining 40% of the restricted stock unit awards is dependent only on the NEOs’ continued service during the three-year period.

In 2018, values of restricted stock unit awards granted to our NEOs was above the median but below the 75th percentile of equity awards granted to comparable officers in our executive compensation peer group.

 

 

 

Results for the three-year performance awards that vested on December 31, 2018 resulted in 130% of the target number of awards vesting.

Retirement or Deferred Compensation Benefits

 

Supplemental Executive Retirement Plan (“SERP”) (see page 36)

Mrs. Lewis, Mr. Mollins, and Mr. Sales are the only current NEOs participating in the SERP. Messrs. Hoffman and Shanley do not participate in the SERP.

Provides supplemental retirement benefits to certain key employees.

The SERP was frozen to new participants as of January 1, 2009.

Benefit amount set to 38% of the average of the participant’s highest five years total cash compensation during the final ten years of employment.

In comparing the values of the SERP against the retirement benefits offered to similar executives at companies in our executive compensation peer group, the Compensation Committee found that the values for NEOs who participate in the SERP fall between the 50th to 75th percentile of retirement benefits compared to what they would receive if they participated in the programs of companies in our executive compensation peer group.

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