SEC Filings

DEFR14A
RELIANCE STEEL & ALUMINUM CO filed this Form DEFR14A on 04/08/2019
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income margin of 5.75% and results in an award of 150% of the NEO’s year-end base salary. The maximum amount is based on a pretax income margin of 8.5% or higher, which results in an award of 300% of the NEO’s year-end base salary. These columns do not reflect the actual amounts paid, but only provide an example of how the awards would be calculated under the plan if the specified levels of pretax income margin were achieved. Pretax income margin (as calculated per the terms of the plan) for 2018 was 7.5% which was above the target and resulted in a payout under the plan equal to 245% of each NEO’s year-end base salary.

(2)

Reflects the threshold, target and maximum number of shares of common stock of the Company for the restricted stock units granted in March 2018 that will vest if the Company achieves certain ROA performance goals. The performance period for all such awards is a three-year performance period consistent with prior years. The 115,900 performance-based awards granted to the NEOs represent the target number of shares and will vest based on the achievement of the ROA performance goals.

(3)

Represents the number of service-based restricted stock units awarded to each NEO in March 2018 that will vest if the NEO continues to be employed by the Company until December 1, 2020.

(4)

Reflects the grant date fair value of the service-based restricted stock units and the target number of performance-based restricted stock units awarded to each NEO.

Option Exercises and Stock Vesting

The following table sets forth information for the NEOs with regard to the aggregate equity awards vested and exercised during 2018:

 

 

 

 

 

 

 

 

 

 

 

Option Awards

 

Stock Awards

 

 

Number of

 

 

 

Number of

 

 

 

 

Shares Acquired

 

Value Realized

 

Shares Acquired

 

Value Realized

Name

    

on Exercise (#)

    

on Exercise ($)

    

on Vesting (#)

    

on Vesting ($)(1)

James D. Hoffman

 

-

 

-

 

17,920

 

1,477,374

Karla R. Lewis

 

-

 

-

 

19,360

 

1,611,755

William K. Sales, Jr.

 

-

 

-

 

16,720

 

1,391,970

Michael P. Shanley

 

-

 

-

 

14,960

 

1,245,447

Gregg J. Mollins

 

-

 

-

 

78,960

 

6,952,127

(1)

The amounts are based on the closing price of the Company’s common stock on the vesting date.

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