SEC Filings

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

(3)

The amounts represent the change in the present value of the accumulated benefits payable on the retirement of the NEOs that participate in the SERP. These amounts are determined using interest rate and mortality assumptions consistent with those included in Note 12 of the Notes to Consolidated Financial Statements in the Annual Report on Form 10-K filed by the Company for the year ended December 31, 2018. The following summarizes the total change in pension value in 2018 due to the change in the discount rate, mortality tables, and other factors:

 

 

 

 

 

 

 

 

 

Change in

 

 

 

 

 

 

Pension Value

 

 

 

 

 

 

Due to Change

 

Change in

 

Total Change

 

 

in Discount

 

Pension Value -

 

in Pension

Name

    

Rate ($)

    

All Other ($)

    

Value ($)

Karla R. Lewis

 

(333,103)

 

261,893

 

(71,210)

William K. Sales, Jr.

 

(125,930)

 

457,498

 

331,568

Gregg J. Mollins

 

(87,280)

 

1,137,229

 

1,049,949

 

 

 

 

 

 

 

 

 


(4)

The 2018 All Other Compensation amounts are composed of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

 

 

 

 

 

 

 

 

Contribution to

 

Dividend

 

 

 

 

401(k) Match

 

ESOP

 

Deferred

 

Equivalents on

 

All Other

 

 

Contributions

 

Contributions

 

Compensation Plan

 

Restricted Stock Units

 

Compensation

Name

    

($)

    

($)

    

($)

    

($)

    

($)

James D. Hoffman

 

8,250

 

6,388

 

300,000

 

77,748

 

392,386

Karla R. Lewis

 

8,250

 

6,388

 

-

 

90,024

 

104,662

William K. Sales, Jr.

 

8,250

 

6,388

 

-

 

77,748

 

92,386

Michael P. Shanley

 

8,250

 

6,388

 

200,000

 

69,564

 

284,202

Gregg J. Mollins

 

8,250

 

6,388

 

-

 

367,164

 

381,802

 

Grants of Plan Based Awards

The Company currently has no non-equity or equity incentive plans for its executive officers other than our annual cash incentive plan and the Amended and Restated 2015 Incentive Award Plan. The following table sets forth plan-based awards granted to the NEOs during 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

All Other

 

All Other

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock

 

Option

 

 

 

Grant Date

 

 

 

 

 

 

 

 

 

Awards:

 

Awards:

 

Exercise

 

Fair Value

 

 

 

Estimated Future Payouts

 

 

 

Estimated Future Payouts

 

Number of

 

Number of

 

or Base

 

of Stock

 

 

 

Under Non-Equity Incentive

 

 

 

Under Equity

 

Shares of

 

Securities

 

Price of

 

and

 

 

 

Plan Awards(1)

 

 

 

Plan Awards(2)

 

Stock or

 

Underlying

 

Option

 

Option

 

 

 

Threshold

 

Target

 

Maximum

 

Grant

 

Threshold

 

Target

 

Maximum

 

Units

 

Options

 

Awards

 

Awards

 

Name

    

($)

    

($)

    

($)

    

Date

    

(#)

    

(#)

    

(#)

    

(#)(3)

    

(#)

    

($/sh)

    

($)(4)

 

James D. Hoffman

 

156,000

 

1,170,000

 

2,340,000

 

3/27/2018

 

3,480

 

13,920

 

27,840

 

 

 

 

 

 

 

1,172,899

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9,280

 

-

 

-

 

781,933

 

Karla R. Lewis

 

138,000

 

1,035,000

 

2,070,000

 

3/27/2018

 

3,480

 

13,920

 

27,840

 

 

 

 

 

 

 

1,172,899

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9,280

 

-

 

-

 

781,933

 

William K. Sales, Jr.

 

125,000

 

937,500

 

1,875,000

 

3/27/2018

 

2,588

 

10,350

 

20,700

 

 

 

 

 

 

 

872,091

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6,900

 

-

 

-

 

581,394

 

Michael P. Shanley

 

105,000

 

787,500

 

1,575,000

 

3/27/2018

 

2,318

 

9,270

 

18,540

 

 

 

 

 

 

 

781,090

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6,180

 

-

 

-

 

520,727

 

Gregg J. Mollins

 

229,000

 

1,717,500

 

3,435,000

 

3/27/2018

 

17,110

 

68,440

 

136,880

 

 

 

 

 

 

 

5,766,754

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

17,110

 

-

 

-

 

1,441,689

 


(1)

Reflects the threshold, target and maximum payout amounts of non-equity incentive plan awards that were in effect for 2018 under the annual cash incentive plan. The threshold, target and maximum payout amounts were determined in accordance with the terms of the annual cash incentive plan. The award amount is a percent of the NEO’s year-end base salary, with the percent based upon the threshold, target and maximum targets. In order to receive any award, the Company’s pretax income margin must be at least 3%, which results in an award of 20% of the NEO’s year-end base salary. The 2018 target amount is based on a pretax

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