SEC Filings

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

Estimated Benefits Upon Termination or Change in Control

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Termination

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Without Cause

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Following

 

 

 

 

 

 

 

 

Qualified

 

Termination

 

Termination

 

Change-in-

 

Change-in-

 

 

 

 

 

 

Retirement

 

for Cause

 

Without Cause

 

Control

 

Control Only

 

Death

 

Disability

 

 

($)

 

($)

 

($)

 

($)

 

($)

 

($)

 

($)

James D. Hoffman

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash severance payment

 

0

 

0

 

0

 

0

 

0

 

0

 

0

Value of accelerating vesting of incentive compensation(1)

 

4,015,346

 

0

 

0

 

4,015,346

 

0

 

4,015,346

 

4,015,346

Continuation of benefits(2)

 

0

 

0

 

0

 

0

 

0

 

0

 

0

Pension and nonqualified compensation benefit(3)

 

1,072,259

 

0

 

0

 

0

 

0

 

1,072,259

 

1,072,259

Total

 

5,087,605

 

0

 

0

 

4,015,346

 

0

 

5,087,605

 

5,087,605

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Karla R. Lewis

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash severance payment

 

0

 

0

 

0

 

0

 

0

 

0

 

0

Value of accelerating vesting of incentive compensation(1)

 

3,794,846

 

0

 

0

 

3,794,846

 

0

 

3,794,846

 

3,794,846

Continuation of benefits(2)

 

0

 

0

 

0

 

0

 

0

 

0

 

0

Pension and nonqualified compensation benefit(3)

 

0

 

0

 

0

 

1,379,158

 

0

 

1,270,164

 

475,035

Total

 

3,794,846

 

0

 

0

 

5,174,004

 

0

 

5,065,010

 

4,269,881

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

William K. Sales, Jr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash severance payment

 

0

 

0

 

0

 

0

 

0

 

0

 

0

Value of accelerating vesting of incentive compensation(1)

 

3,248,926

 

0

 

0

 

3,248,926

 

0

 

3,248,926

 

3,248,926

Continuation of benefits(2)

 

0

 

0

 

0

 

0

 

0

 

0

 

0

Pension and nonqualified compensation benefit(3)

 

301,293

 

0

 

301,293

 

635,792

 

0

 

0

 

301,293

Total

 

3,550,219

 

0

 

301,293

 

3,884,718

 

0

 

3,248,926

 

3,550,219

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Michael P. Shanley

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash severance payment

 

0

 

0

 

0

 

0

 

0

 

0

 

0

Value of accelerating vesting of incentive compensation(1)

 

2,825,236

 

0

 

0

 

2,825,236

 

0

 

2,825,236

 

2,825,236

Continuation of benefits(2)

 

0

 

0

 

0

 

0

 

0

 

0

 

0

Pension and nonqualified compensation benefit(3)

 

638,515

 

0

 

0

 

0

 

0

 

638,515

 

638,515

Total

 

3,463,751

 

0

 

0

 

2,825,236

 

0

 

3,463,751

 

3,463,751

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gregg J. Mollins

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash severance payment

 

0

 

0

 

0

 

0

 

0

 

0

 

0

Value of accelerating vesting of incentive compensation(1)

 

12,017,662

 

0

 

0

 

12,017,662

 

0

 

12,017,662

 

12,017,662

Continuation of benefits(2)

 

0

 

0

 

0

 

0

 

0

 

0

 

0

Pension and nonqualified compensation benefit(3)

 

240,161

 

0

 

240,161

 

258,713

 

0

 

0

 

240,161

Total

 

12,257,823

 

0

 

240,161

 

12,276,375

 

0

 

12,017,662

 

12,257,823

(1)

Includes the prorated value of the number of unvested restricted stock units based on a shortened performance period ending on December 31, 2018. The value of equity included in this amount is based on a price per share of $71.17, the closing price of the Company’s common stock on December 31, 2018, the last day of the 2018 year on which the Company’s common stock was traded on the New York Stock Exchange. Upon a change in control without termination occurring on December 31, 2018, the NEO would be fully vested in the 2018 annual cash incentive and the restricted stock awards granted in 2016, having been employed the entire performance period.

(2)

Excludes certain benefits generally available to salaried employees, such as certain disability benefits, accrued vacation and distributions under our 401(k) and ESOP plans.

(3)

Represents the amount of benefit in excess of the present value of accumulated benefits payable on retirement by the SERP or the amount of unvested company contributions under the Deferred Compensation Plan (see page 36).

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