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COLUMBIA SPORTSWEAR CO

For the period ended May 30, 2024. Filed Apr 17, 2024.

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About this filing

What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

May 30, 2024 · Filed Apr 17, 2024

COLM$70.43+1.9%Stored close · as of Nov 6, 2026
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PAY VERSUS PERFORMANCE

In accordance with rules adopted by the SEC pursuant to Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, we are providing the following disclosure regarding executive compensation for our principal executive officer (“PEO”) and non-PEO named executive officers (“Non-PEO NEOs”) for the fiscal years listed below. The table reflects “compensation actually paid” (“CAP”) to our PEO and the average CAP to our Non-PEO NEOs, computed in accordance with Item 402(v) of SEC Regulation S-K. The dollar amounts reported do not reflect the actual amount of compensation earned by or paid to these officers during the applicable year.

Pay Versus Performance Table (“PVP Table”)

Value of Initial Fixed $100 InvestmentBased on:
Year · Summary Compensation Table Total for PEO(1)($) · Compensation Actually Paid to PEO(2)($) · Average Summary Compensation Table Total for Non-PEO Named Executive Officers($) · Average Compensation Actually Paid to Non-PEO Named Executive Officers(3)($) · Total Shareholder Return(4)($) · Peer Group Total Shareholder Return(5)($) · Net Income(6)($)(in millions) · Adjusted Operating Income(7)($)(in millions)
2023(8)$1,623,464$968,673$1,699,055$1,182,396$82.90$107.14$251.4$365.7
2022(9)2,764,2142,496,7871,660,4991,392,20389.9083.51311.4477.7
2021(10)4,751,1794,693,8511,788,1942,013,94898.56119.66354.1504.7
2020(11)1,238,1681,238,1681,447,664797,92887.50107.95108.0212.0

(1)Reflects compensation amounts reported in the “Summary Compensation Table” (“SCT”) for our PEO, Timothy P. Boyle for the respective years shown.

(2)The following table sets forth the adjustments made during each year represented in the PVP Table to arrive at CAP for our PEO during each of the applicable years:

Adjustments to Determine Compensation “Actually Paid” for PEO2023
Summary Compensation Table Total$1,623,464
Subtract: Amounts Reported under “Option Awards” Column in the SCT—
Add: Fair Value of Awards Granted during Year that Remain Unvested as of Year-end—
Add/Subtract: Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end—
Add/Subtract: Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year(654,791)
Compensation Actually Paid (as calculated)$968,673

PEO Equity Valuations: All valuations of equity awards were estimated using assumptions and methodologies substantially consistent with those used at grant. These methodologies are consistent with the principles in FASB ASC 718 and are described further in our Annual Reports on Form 10-K. Stock option fair values are calculated based on the Black-Scholes option-pricing model as of each measurement date using updated stock price and other model inputs (i.e., expected term, volatility, dividend yield, risk-free rate) as of the measurement date.

(3)The following table sets forth the adjustments made during each year represented in the PVP Table to arrive at CAP for our Non-PEO NEOs during each of the applicable years:

Average Adjustments to Determine Compensation “Actually Paid” for Non-PEO NEOs2023
Average Summary Compensation Table Total$1,699,055
Subtract: Average Amounts Reported under “Stock Awards” Column in the SCT(410,106)
Subtract: Average Amounts Reported under “Option Awards” Column in the SCT(390,007)
Add: Average Fair Value of Awards Granted during Year that Remain Unvested as of Year-end514,511
Add: Average Fair Value of Awards Granted during the Year and Vested during the Year15,903
Add/Subtract: Average Change in Fair Value from Prior Year-end to current Year-end of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-end(238,928)
Add/Subtract: Average Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year that Vested during Year(8,032)
Average Compensation Actually Paid (as calculated)$1,182,396

Non-PEO NEO Equity Valuations: All valuations of equity awards were estimated using assumptions and methodologies substantially consistent with those used at grant. These methodologies are consistent with the principles in FASB ASC 718 and are described further in our Annual Reports on Form 10-K. Stock option fair values are calculated based on the Black-Scholes option-pricing model as of each measurement date using updated stock price and other model inputs (i.e., expected term, volatility, dividend yield, risk-free rate) as of the measurement date. Time-based RSU fair values are calculated using the stock price as of each measurement date, reduced by the present value of dividends not received during the vesting period. PRSU fair values are calculated using the stock price as of each measurement date, reduced by the present value of dividends not received during the vesting period and reflect the probable outcome of the performance vesting conditions.

(4)Total Shareholder Return assumes an initial investment of $100 on December 31, 2019, including the reinvestment of dividends.

(5)The peer group reflected for each fiscal year is the Russell 1000 Clothing and Accessories Index, which is used in the performance graph included in the Company’s Annual Report on Form 10-K for fiscal year 2023.

(6)The dollar amounts reported represent the amount of net income (in millions) reflected in the Company’s audited consolidated financial statements for the applicable year.

(7)Adjusted Operating Income equals Operating Income for the fiscal year as set forth in the audited consolidated financial statements of the Company, adjusted for annual corporate bonus expense and certain excluded items approved by the Talent and Compensation Committee as more fully described for 2023 above on page 26 of the Compensation Discussion and Analysis. We determined this to be the most important financial performance measure used to link Company performance to CAP to our PEO and Non-PEO NEOs in 2023.

(8)In 2023, the Non-PEO NEOs were Joseph P. Boyle, Peter J. Bragdon, Jim A. Swanson, and Steven M. Potter.

(9)In 2022, the Non-PEO NEOs were Joseph P. Boyle, Peter J. Bragdon, Jim A. Swanson, and Steven M. Potter.

(10)In 2021, the Non-PEO NEOs were Joseph P. Boyle, Peter J. Bragdon, Jim A. Swanson, and Steven M. Potter.

(11)In 2020, the Non-PEO NEOs were Peter J. Bragdon, Thomas B. Cusick, Franco Fogliato and Jim A. Swanson.

Pay Versus Performance Tabular List

For 2023, in the Company’s assessment, the most important financial performance measures used to link NEO CAP to Company performance are as follows:

Top Financial Performance Measures Linking CAP to Company Performance in 2023

Adjusted Operating Income

Cumulative Operating Income

Return on Invested Capital

Share Price

Pay Versus Performance Relationship Disclosure

CAP Versus the Company’s Cumulative TSR

The following chart shows the relationship between the CAP to our PEO, the average CAP to our Non-PEO NEOs and the Company’s cumulative TSR over the four most recently completed fiscal years.

Company’s TSR and Peer Group Cumulative TSR

The following chart compares our cumulative TSR over the four most recently completed fiscal years to that of our peer group TSR comprising the Russell 1000 Clothing and Accessories Index over the same period.

CAP Versus the Company’s Net Income

The following chart shows the relationship between the CAP to our PEO, the average CAP to our Non-PEO NEOs and the Company’s net income over the four most recently completed fiscal years.

CAP Versus the Company’s Adjusted Operating Income

The following chart shows the relationship between the CAP to our PEO, the average CAP to our Non-PEO NEOs and the Company’s adjusted operating income over the four most recently completed fiscal years.

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