EXPONENT INC
For the period ended Jun 6, 2024. Filed Apr 22, 2024.
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Jun 6, 2024 · Filed Apr 22, 2024
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Contents
Summary Compensation Table
The following table summarizes information regarding compensation earned by our named executive officers during fiscal 2023 and, as applicable, fiscal 2022 and 2021.
| Name and Principal Position | Year | Salary ($)(1) | Bonus ($)(2) | StockAwards ($)(3) (5) | OptionAwards ($)(4) (5) | All OtherCompensation ($) (6) | Total ($) |
|---|---|---|---|---|---|---|---|
| Catherine Ford Corrigan, Ph.D. | 2023 | 887,500 | 720,000 | 1,200,040 | 689,299 | 62,125 | 3,558,964 |
| President and Chief Executive | 2022 | 831,250 | 900,000 | 1,200,136 | 599,488 | 58,188 | 3,589,062 |
| Officer | 2021 | 762,500 | 900,000 | 800,102 | 506,440 | 53,375 | 3,022,417 |
| Richard L. Schlenker | 2023 | 600,000 | 450,000 | 720,144 | 459,533 | 42,000 | 2,271,677 |
| Executive Vice President, Chief Financial | 2022 | 562,500 | 540,000 | 720,120 | 399,659 | 39,375 | 2,261,654 |
| Officer and Corporate Secretary | 2021 | 535,000 | 540,000 | 576,192 | 337,618 | 37,450 | 2,026,260 |
| Eric Guyer, Ph.D. | 2023 | 556,250 | 480,000 | 540,108 | — | 38,938 | 1,615,296 |
| Group Vice President | |||||||
| Joseph Rakow, Ph.D. | 2023 | 575,000 | 690,000 | 760,152 | — | 40,250 | 2,065,402 |
| Group Vice President | |||||||
| Maureen Reitman, Sc.D. | 2023 | 572,981 | 495,000 | 480,096 | — | 40,109 | 1,588,186 |
| Group Vice President | 2022 | 532,500 | 360,000 | 520,034 | — | 37,275 | 1,449,809 |
| 2021 | 518,750 | 390,000 | 380,172 | — | 36,313 | 1,325,235 | |
(1)
The base salaries for our Named Executive Officers took effect for 2023, 2022 and 2021 on April 1, 2023, April 2, 2022 and April 3, 2021, respectively. As such, the amounts in this column reflect three months at their prior year base salaries and nine months at their current year base salaries. Fiscal 2023, 2022 and 2021 included 52 weeks of activity.
(2)
The amounts shown in this column represent the value of cash bonuses earned during the year indicated and paid in the first quarter of the subsequent year, excluding the portion settled with vested restricted stock unit awards.
(3)
The amounts shown in this column represent the values of vested and unvested restricted stock unit awards granted during the year indicated, regardless of when earned. The value of restricted stock units granted during the first quarter of 2024 to settle a portion of each named executive officer’s fiscal 2023 bonus are not included in this column.
(4)
The amounts shown in this column represent the Black-Scholes value calculated for stock options granted during the year indicated, regardless of when earned.
(5)
The values of equity-based awards for these columns represent the aggregate grant date fair value of the awards in accordance with ASC 718. All equity-based awards have DER, which entitle the holder of the award to the same dividend value per share as holders of common stock. DER are subject to the same vesting and other terms and conditions as the corresponding stock award or option award. DER are accumulated and paid when the underlying stock awards or option awards vest and are forfeited if the underlying stock awards or option awards are forfeited. See Note 9 to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 29, 2023, regarding assumptions underlying the valuation of equity awards.
(6)
The amounts shown in this column represent the value of Company contributions to each named executive officer’s defined contribution retirement account earned during the year indicated. The Company provides a defined contribution retirement plan for all of its employees whereby the Company contributes to each eligible employee’s account 7% of the employee’s eligible base salary plus overtime. These contributions are made to the 401(k) plan up to the statutory maximum. Any portion of the 7% contribution in excess of the statutory maximum is made to the Company’s nonqualified deferred compensation plan.
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