SEC Filings

DEFR14A
RELIANCE STEEL & ALUMINUM CO filed this Form DEFR14A on 04/08/2019
Entire Document
 

Element

    

Type

    

Description

 

 

 

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.

 

 

Deferred Compensation Plan (see page 36)

Because they do not participate in the SERP, Messrs. Hoffman and Shanley receive Company contributions under the Deferred Compensation Plan.

Provides supplemental retirement benefits to certain key employees through discretionary Company contributions.

In comparing the values of the Deferred Compensation Plan against the deferred compensation benefits offered to similar executives at companies in our executive compensation peer group, the Compensation Committee found that the values for Messrs. Hoffman and Shanley in the Deferred Compensation Plan approximate median 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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