Cooper-Standard Holdings Inc.
For the period ended May 15, 2025. Filed Apr 3, 2025.
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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 15, 2025 · Filed Apr 3, 2025
Contents
Pay Versus Performance
Pay Versus PerformanceSet forth below is information demonstrating the relationship between executive compensation actually paid, calculated in accordance with the applicable SEC regulations (“CAP”) and the financial performance of the Company over the five-year period 2020 through 2024.PAY VERSUS PERFORMANCE TABLE
| Year · Summary Compensation Table Totalfor PEO1$ · Compensation Actually Paid to PEO2$ · Average Summary CompensationTable Totalfor Non-PEO NEOs3$ · Average Compensation Actually Paid to Non-PEONEOs4$ · Value of Initial Fixed $100 Investment Based On: · GAAP Net Income7$ (Millions) · Company Selected Measure: | ||||||||
|---|---|---|---|---|---|---|---|---|
| Company Total Shareholder Return5$ · Peer Group Total Shareholder Return6$ · AdjustedEBITDA8$( Millions) | ||||||||
| (a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | (i) |
| 2024 | 8,702,693 | 3,530,059 | 2,268,299 | 1,410,228 | 41 | 82 | (79) | 181 |
| 2023 | 7,634,186 | 11,439,878 | 1,941,477 | 2,570,224 | 59 | 108 | (202) | 180 |
| 2022 | 4,707,758 | 1,890,963 | 1,349,459 | 924,716 | 27 | 102 | (215) | 43 |
| 2021 | 5,087,944 | 1,178,083 | 1,208,695 | 567,824 | 68 | 151 | (323) | (8) |
| 2020 | 4,909,345 | 4,700,156 | 1,374,266 | 1,346,729 | 105 | 123 | (268) | 36 |
1The amounts shown in column (b) represent total compensation amount for the principal executive officer (“PEO”), Mr. Edwards, for each respective year as reflected in column (j) of the Summary Compensation Table ("SCT Compensation").
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2The amounts shown in column (c) represent, for each respective year, the PEO's SCT Compensation, reduced by the grant date fair value of equity-based compensation for the PEO as reported in the applicable Summary Compensation Table; and increased (or decreased, as applicable) by the change in value of equity awards for the PEO during the year (as of year-end, or upon vesting or forfeiture, if earlier). Mr. Jeffrey Edwards served as the PEO for years 2020 through 2024. Mr. Edwards does not have a defined benefit pension; thus, the amounts in column (c) are not reflective of any adjustment associated with pension benefits or costs.
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| Table of Contents | Proposal 2 |
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| PEO · Other Non-PEO NEOs (average) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 · 2023 · 2022 · 2021 · 2020 · 2024 · 2023 · 2022 · 2021 · 2020 | |||||||||||
| $ · $ · $ · $ · $ · $ · $ · $ · $ · $ | |||||||||||
| Summary Compensation Table (SCT) Total Compensation | (a) | 8,702,693 | 7,634,186 | 4,707,758 | 5,087,944 | 4,909,345 | 2,268,299 | 1,941,477 | 1,349,459 | 1,208,695 | 1,374,266 |
| SCT Change in Pension Value | (b) | — | — | — | — | — | — | — | — | ||
| CAP Pension Service Cost | (c) | — | — | — | — | — | — | — | — | ||
| SCT Stock and Option Awards Value | (d) | 6,032,596 | 4,751,899 | 2,689,813 | 3,878,199 | 2,904,733 | 1,220,438 | 792,526 | 426,497 | 599,125 | 433,794 |
| Fair Value as of Year-End of Equity Awards Granted during the Year | (e) | 3,034,128 | 6,062,451 | 1,215,173 | 963,615 | 2,653,264 | 613,827 | 1,050,723 | 192,676 | 120,928 | 396,231 |
| Fair value as of Vest Date of Equity Awards Granted during the Year | (f) | — | — | — | — | — | — | — | 12,889 | — | |
| Increase (Decrease) from Prior Year-End in Fair Value of Awards That Vested During the Year | (g) | (532,212) | 754,892 | (253,996) | 104,808 | (81,819) | (90,701) | 104,110 | (42,014) | (17,898) | (13,776) |
| Year-over-Year Increase (Decrease) in Fair Value of Unvested Awards Granted in Prior Years | (h) | (1,641,955) | 1,740,247 | (1,088,159) | (1,100,085) | 124,099 | (160,759) | 266,440 | (148,908) | (106,829) | 23,802 |
| Fair Value at the End of the Prior Year of Awards that Failed to Meet Vesting Conditions in the Year | (i) | — | — | — | — | — | — | — | 50,836 | — | |
| Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value of Total | (j) | — | — | — | — | — | — | — | — | — | |
| Compensation Actually Paid (CAP)(k) = (a) - (b) + (c) –(d) + (e) + (f) + (g) + (h) - (i) + (j) | (k) | 3,530,059 | 11,439,878 | 1,890,963 | 1,178,083 | 4,700,156 | 1,410,228 | 2,570,224 | 924,716 | 567,824 | 1,346,729 |
| 3The amounts shown in column (d) represent, for each respective year, the average of the total compensation amounts for all NEOs other than the PEO, as reflected in column (j) of the applicable Summary Compensation Table. See details in the table for footnote 2.The non-PEO NEOs for each respective year, are as follows: | ||||
|---|---|---|---|---|
| 2024 | 2023 | 2022 | 2021 | 2020 |
| Mr. Jonathan P. Banas | Mr. Jonathan P. Banas | Mr. Jonathan P. Banas | Mr. Jonathan P. Banas | Mr. Jonathan P. Banas |
| Mr. Patrick R. Clark | Mr. Patrick R. Clark | Mr. Patrick R. Clark | Mr. D. William Pumphrey, Jr. | Mr. D. William Pumphrey, Jr. |
| Mr. Christopher E. Couch | Mr. Christopher E. Couch | Mr. Christopher E. Couch | Mr. Christopher E. Couch | Mr. Jeffrey A. DeBest |
| Ms. MaryAnn P. Kanary | Mr. Larry E. Ott | Ms. Joanna M. Totsky | Ms. Joanna M. Totsky | Mr. Larry E. Ott |
| Mr. Juan Fernando de Miguel Posada | ||||
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4The amounts shown in column (e) represent the average, for each respective year, of the CAP for all non-PEO NEOs, equal to SCT Compensation, reduced by the grant date fair value of equity-based compensation as reported in the applicable Summary Compensation Table and the change in pension value as reported in the applicable Summary Compensation Table; and increased (or decreased, as applicable) by the change in value of equity-based awards during the year (as of year-end, or upon vesting or forfeiture, if earlier) and the pension service cost (and prior service cost, if applicable) associated with any applicable defined benefit pension benefit. See details in the table for footnote 2.For 2020, 2021, 2022 and 2024, no non-PEO NEOs had a defined benefit pension; thus, there was no impact on the calculation of CAP. For 2023, Mr. Clark was the only NEO with a defined benefit pension; however, both the change in his pension value as reported in the Summary Compensation Table and the combined service and prior service costs for 2023 associated with his pension benefit were zero, having no impact on the calculation of his CAP.
5The amounts shown in column (f) represent the Company's Total Shareholder Return or cumulative growth of a hypothetical $100 investment in the Company made as of December 31, 2019, reflected as of the end of each respective year, and inclusive of the reinvestment of all dividends, where applicable.
6The amounts shown in column (g) represent the Total Shareholder Return or cumulative growth of a hypothetical $100 investment in the Standard & Poor's Supercomposite Auto Parts & Equipment Index, which we also use for purposes of the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2024, reflected as of the end of each respective year and inclusive of the reinvestment of all dividends, where applicable.
7The amounts shown in column (h) represent the Company's net income (loss) as reflected in Item 8. Financial Statements and Supplementary Data - Consolidated Statements of Operations on page 48 in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
8For purposes of Item 401(v) of Regulation S-K, we have identified Adjusted EBITDA as our Company-Selected Measure, as described under “Annual Incentive Award” in the Executive Compensation Components section of the Compensation Discussion and Analysis. Additional information regarding the Adjusted EBITDA measure is also provided with the Financial Performance Measures list below.
Financial Performance MeasuresSet forth below is a list of the financial performance measures used to link compensation actually paid to NEOs for the most recently completed fiscal year to company performance.
| • | Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA)1 |
|---|---|
| • | Free Cash Flow2 |
| • | Relative Total Shareholder Return (RTSR)3 |
1Adjusted EBITDA is defined as net income (loss) plus income tax expense (benefit), interest expense, net of interest income, depreciation and amortization (or “EBITDA”), as adjusted for items that management does not consider to be reflective of our core operating performance (including, but not limited to, restructuring costs, impairment charges, non-cash fair value adjustments and acquisition-related costs). Adjusted EBITDA is deemed by the Compensation Committee to be an appropriate objective measurement of the financial performance of the Company because it is an indicator of our strategy to achieve sustained profitable growth and align executive compensation with the interests of our stockholders over the long term. Further information regarding Adjusted EBITDA, including a description of the use of Adjusted EBITDA for NEO performance-based compensation for the most recently completed fiscal year is included under “Annual Incentive Award” under the Executive Compensation Components section.
2Free Cash Flow (FCF) is a non-GAAP financial measure defined as net cash provided by operating activities minus capital expenditures. During the most recently completed fiscal year, FCF was used as a financial measure within our long-term incentive compensation programs for NEOs, designed to motivate leadership to execute our long-term growth strategy while delivering consistently strong financial results. A description of the use of FCF as a performance metric for NEO performance-based compensation for the most recently completed fiscal year is included under “Long-Term Incentive Compensation” under the Executive Compensation Components section.
3Relative Total Shareholder Return (RTSR) was used, in addition to the ROIC performance metric, as a financial measure within our long-term incentive compensation programs for NEOs in both the 2022 and 2023 Performance RSUs, which was designed to motivate leadership to execute our long-term growth strategy. A description of the use of RTSR as a performance metric for NEO performance-based compensation for the most recently completed fiscal year is included under “Long-Term Incentive Compensation” under the Executive Compensation Components section.
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| Table of Contents | Proposal 2 |
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Relationship Between Financial Performance Measures and Executive Compensation Actually PaidSet forth below are graphical depictions of the relationships between CAP for the PEO and the NEOs, with: (i) the Company’s TSR, (ii) peer group TSR, (iii) the Company’s net income, and (iv) Adjusted EBITDA, the Company-Selected Measure.
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