SEC Filings

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

EXECUTIVE COMPENSATION

The following table summarizes certain information concerning the compensation that our NEOs earned for the years 2018, 2017 and 2016:

Summary Compensation Table

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonqualified

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Equity

 

Deferred

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock

 

Option

 

Incentive Plan

 

Compensation

 

All Other

 

 

 

Name and Principal

 

 

 

Salary

 

Bonus

 

Awards

 

Awards

 

Compensation

 

Earnings

 

Compensation

 

Total

 

Position

    

Year

    

($)

    

($)

    

($)(1)

    

($)

    

($)(2)

    

($)(3)

    

($)(4)

    

($)

 

James D. Hoffman

 

2018

 

730,000

 

-

 

1,954,832

 

-

 

1,911,000

 

-

 

392,386

 

4,988,218

 

President and Chief

 

2017

 

650,000

 

-

 

1,552,200

 

-

 

1,156,000

 

-

 

329,302

 

3,687,502

 

Executive Officer

 

2016

 

577,500

 

-

 

1,521,520

 

-

 

930,000

 

-

 

332,827

 

3,361,847

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Karla R. Lewis

 

2018

 

672,500

 

-

 

1,954,832

 

-

 

1,690,500

 

(71,210)

 

104,662

 

4,351,284

 

Senior Executive Vice

 

2017

 

637,500

 

-

 

1,552,200

 

-

 

1,113,500

 

544,008

 

38,332

 

3,885,540

 

President and Chief

 

2016

 

604,250

 

-

 

1,521,520

 

-

 

930,000

 

299,352

 

43,875

 

3,398,997

 

Financial Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

William K. Sales, Jr.

 

2018

 

609,000

 

-

 

1,453,485

 

-

 

1,531,250

 

331,568

 

92,386

 

4,017,689

 

Executive Vice President,

 

2017

 

579,000

 

-

 

1,341,260

 

-

 

1,008,100

 

735,406

 

29,302

 

3,693,068

 

Operations

 

2016

 

550,000

 

-

 

1,314,040

 

-

 

847,500

 

449,551

 

32,827

 

3,193,918

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Michael P. Shanley

 

2018

 

511,500

 

-

 

1,301,817

 

-

 

1,286,250

 

-

 

284,202

 

3,383,769

 

Senior Vice President,

 

2017

 

486,500

 

-

 

1,201,960

 

-

 

846,600

 

-

 

221,734

 

2,756,794

 

Operations

 

2016

 

462,500

 

-

 

1,175,720

 

-

 

712,500

 

-

 

222,242

 

2,572,962

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gregg J. Mollins

 

2018

 

1,122,500

 

-

 

7,208,443

 

-

 

2,805,250

 

1,049,949

 

381,802

 

12,567,944

 

Senior Advisor to the

 

2017

 

1,075,000

 

-

 

6,634,660

 

-

 

1,870,000

 

1,733,635

 

44,352

 

11,357,647

 

CEO and former President

 

2016

 

1,025,000

 

-

 

6,501,040

 

-

 

1,670,000

 

1,033,371

 

52,174

 

10,281,585

 

and Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


(1)

The amounts in this column reflect the grant date fair value of the target number of restricted stock units awarded in 2016, 2017 and 2018. The values are calculated in accordance with the Stock Compensation topic of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification”) and pursuant to the Company’s equity compensation plans by multiplying the closing price of the Company’s common stock on the grant date by the number of service-based restricted stock units and the target number of performance-based restricted stock units awarded to each NEO. Results for the performance-based equity awards granted in 2016 were determined in February 2019. The performance-based equity awards granted in 2016 vested on December 31, 2018, with payouts on the 2016 Return on Assets (“ROA”) award above target, resulting in total performance shares earned by our NEOs at 130% of the target. The grant date fair values of performance-based RSUs granted to each NEO in 2018 at the maximum possible payout are as follows:  $2,345,798 for Mr. Hoffman and Mrs. Lewis;  $1,744,182 for Mr. Sales; $1,562,180 for Mr. Shanley; and $11,533,509 for Mr. Mollins.  

(2)

Represents earned amounts under the Company’s annual cash incentive plan. See “Principal Components of Our Executive Compensation Program - Annual Cash Incentive Awards” on page 34 and “Grants of Plan Based Awards” on page 43.

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