SEC Filings

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

Pension Benefits

The estimated present value of accumulated benefits payable by the SERP at the normal retirement age of 65 for each of the executive officers named below, determined using interest rate and mortality assumptions consistent with those included in Note 12 in the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

Number

 

Present

 

 

 

 

 

 

of Years

 

Value of

 

Payments

 

 

 

 

Credited

 

Accumulated

 

During

Name(1)

    

Plan Name

    

Service

    

Benefit ($)

    

2018 ($)

Karla R. Lewis

 

Supplemental Executive Retirement Plan

 

27

 

3,423,802

 

 -

William K. Sales, Jr.

 

Supplemental Executive Retirement Plan

 

21

 

5,362,726

 

 -

Gregg J. Mollins

 

Supplemental Executive Retirement Plan

 

32

 

11,237,294

 

 -


(1)

Messrs. Hoffman and Shanley are not participants in the SERP.

Reliance adopted a deferred compensation plan effective December 1, 2008, that was amended and restated effective January 1, 2013, which is administered by the Compensation Committee. NEOs who participate in the SERP do not receive contributions from the Company under the Deferred Compensation Plan.

Nonqualified Deferred Compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Executive

 

Company

 

Aggregate

 

Aggregate

 

Aggregate

 

 

Contributions

 

Contributions

 

Loss in

 

Withdrawals/

 

Balance at

Name

    

in 2018 ($)

    

in 2018 ($)

    

2018 ($)

    

Distributions ($)

    

12/31/18 ($)(2)

James D. Hoffman

 

 

-

 

300,000(1)

 

(145,503)

 

-

 

2,588,417

William K. Sales, Jr.

 

 

-

 

-

 

(100,503)

 

-

 

1,271,979

Michael P. Shanley

 

 

-

 

200,000(1)

 

(91,252)

 

-

 

1,834,683

 


(1)

In 2018, $300,000 was reported as Other Compensation to James D. Hoffman and $200,000 to Michael P. Shanley in the Summary Compensation Table and will vest on January 1, 2019 for Mr. Hoffman, and 75% on January 1, 2020 and 25% on January 1, 2021 for Mr. Shanley.

(2)

Of the amounts in this column, $1,603,731 for Mr. Hoffman and $600,000 for Mr. Shanley was included in the Summary Compensation Table for previous years.

Equity Compensation Plan Information

The following table provides information as of December 31, 2018 regarding shares outstanding and available for issuance under our Amended and Restated Stock Option and Restricted Stock Plan and our Directors Equity Plan:

 

 

 

 

 

 

 

 

 

Number of Securities

 

 

 

 

 

 

to be Issued upon

 

Weighted Average

 

Number of

 

 

Exercise of

 

Exercise Price

 

Securities

 

 

Outstanding

 

of Outstanding

 

Remaining

 

 

Options,

 

Options, Warrants

 

Available for

Plan Category

    

Warrants and Rights (#)

    

and Rights ($)

    

Future Issuance (#)

Equity compensation plans approved by our stockholders

 

26,000

 

41.76

 

1,475,547

Equity compensation plans not approved by our stockholders

 

 -    

 

    -    

 

    -    

Total

 

26,000

 

41.76

 

1,475,547

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