GATX CORP
For the period ended Apr 26, 2024. Filed Mar 15, 2024.
View on SEC.govAbout 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.
Apr 26, 2024 · Filed Mar 15, 2024
GATX$182.74-2.0%Stored close · as of Nov 6, 2026
Contents
Summary Compensation Table
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · · · · · · · · · · · · · · · · · · Change in · · · · · · · · · · | ||||||||||||||||||||||||||||||
| · · · · · · · · · · · · · · · · · · · Pension Value · · · · · · · · · · | ||||||||||||||||||||||||||||||
| · · · · · · · · · · · · · · · · · · · and Non- · · · · · · · · · · | ||||||||||||||||||||||||||||||
| · · · · · · · · · · · · · · · · Non-Equity · · Qualified · · · · · · · · Total · | ||||||||||||||||||||||||||||||
| · · · · · · · · · · · · · · · · Incentive · · Deferred · · · · · · · · Without · | ||||||||||||||||||||||||||||||
| · · · · · · · · · · Stock · · Option · · Plan · · Compensation · · All Other · · · · · Change in · | ||||||||||||||||||||||||||||||
| Name and · · · · Salary · · Bonus · · Awards · · Awards · · Compensation · · Earnings · · Compensation · · · · · Pension · | ||||||||||||||||||||||||||||||
| Principal Position | | Year | | ($) | | | ($) | | ($)(1)(2) | | ($)(1) | | ($)(3) | | ($)(4) | | ($)(5) | | Total ($) | | Value ($)(6) | | ||||||||
| (a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | (i) | (j) | | | |||||||||||||||||||
| Robert C. Lyons | 2023 | | $858,333 | | $0 | | $1,809,082 | | $1,794,322 | | $919,015 | | $1,081,846 | | $9,900 | | $6,472,498 | | $5,390,652 | | ||||||||||
| President and | 2022 | | $734,072 | | $0 | | $1,531,778 | | $1,564,650 | | $719,730 | | $0 | | $9,150 | | $4,559,380 | | $4,559,380 | | ||||||||||
| Chief Executive Officer | 2021 | | $575,483 | | $0 | | $498,826 | | $505,476 | | $490,215 | | $139,667 | | $8,700 | | $2,218,367 | | $2,078,700 | | ||||||||||
| Thomas A. Ellman | 2023 | | $596,583 | | $0 | | $619,642 | | $615,900 | | $447,133 | | $507,862 | | $9,900 | | $2,797,020 | | $2,289,158 | | ||||||||||
| Executive Vice President and | 2022 | | $568,467 | | $0 | | $995,422 | | $598,044 | | $421,284 | | $0 | | $9,150 | | $2,592,366 | | $2,592,366 | | ||||||||||
| Chief Financial Officer | 2021 | | $534,483 | | $0 | | $498,826 | | $505,476 | | $455,289 | | $175,780 | | $8,700 | | $2,178,554 | | $2,002,774 | | ||||||||||
| Paul F. Titterton | | 2023 | | $544,750 | | $0 | | $387,418 | | $385,964 | | $408,284 | | $322,757 | | $9,900 | | $2,059,073 | | $1,736,316 | | |||||||||
| Executive Vice President and | 2022 | | $504,244 | | $0 | | $753,013 | | $351,177 | | $351,213 | | $0 | | $9,150 | | $1,968,797 | | $1,968,797 | | ||||||||||
| President, Rail North America | 2021 | | $448,983 | | $0 | | $288,698 | | $292,644 | | $300,503 | | $91,184 | | $8,700 | | $1,430,712 | | $1,339,528 | | ||||||||||
| Kim Nero | 2023 | | $415,000 | | $0 | | $242,419 | | $242,254 | | $244,387 | | $29,531 | | $9,900 | | $1,183,491 | | $1,153,960 | | ||||||||||
| Executive Vice President and Chief Human Resources | | 2022 | | $397,500 | | $0 | | $232,093 | | $236,436 | | $231,458 | | $31,397 | | $9,150 | | $1,138,034 | | $1,106,637 | | |||||||||
| Officer | | | | | | | | | | | ||||||||||||||||||||
| Brian L. Glassberg | 2023 | | $400,000 | | $0 | | $232,224 | | $229,936 | | $235,554 | | $45,048 | | $9,900 | | $1,152,662 | | $1,107,614 | | ||||||||||
| Executive Vice President, General Counsel and | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Corporate Secretary | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (1) | For awards granted under the GATX 2012 Amended and Restated Incentive Award Plan, amounts shown reflect the grant date fair market value of performance stock units and stock options granted in the years shown, in accordance with ASC Topic No. 718, Compensation — Stock Compensation. |
| (2) | In the event the performance stock units pay out at maximum value (i.e. 200% of target), the total grant date values for grants of restricted stock units and performance stock units are as follows: Mr. Lyons ($3,618,163, $3,063,629, and $997,652); Mr. Ellman ($1,239,283, $1,582,359, and $997,652); Mr. Titterton ($774,835, $1,097,543, and $577,395); Ms. Nero ($484,838 and $464,186); and Mr. Glassberg ($464,448). |
| (3) | The amounts shown reflect the annual incentive awards earned under the GATX Cash Incentive Compensation Plan by each NEO for the years shown. |
| (4) | Change in pension value reflects the increase in the present value of the accumulated pension benefit during the years shown. The Pension Benefits Table shows the present value of the accumulated pension benefit as of December 31, 2023 and the assumptions used in the calculation of that value. We determined the December 31, 2023, December 31, 2022 and December 31, 2021 present values using the same assumptions except that the interest rates used for discounting under ASC Topic No. 715, Compensation - Retirement Benefits, were 4.95% in 2023, 5.15% in 2022, and 2.81% in 2021. |
| (5) | For 2023, amounts shown reflect matching contributions made to the GATX Salaried Employees Retirement Savings Plan for Messrs. Lyons, Ellman, Titterton, and Glassberg and Ms. Nero ($9,900). For all periods presented, all other compensation excludes dividends on NQSOs and performance shares held by each named executive officer because those dividends are included in the grant date fair value amounts for stock awards as reported in columns (e) and (f) of the table above and in column (l) of the Grants of Plan-Based Awards Table. |
| (6) | The amounts shown in this Total Without Change in Pension Value column represent total compensation, as determined under applicable SEC rules (column j), minus the amount reported in the Change in Pension Value and Nonqualified Deferred Compensation Earnings column (column h). The amounts shown in the Total Without Change in Pension Value column differ substantially from, and are not a substitute for, the amounts required to be reported in the Total column pursuant to SEC regulations. We are presenting this supplemental column to illustrate how the Compensation Committee views the annual compensation elements for the NEOs. While the Compensation Committee does review the table in its totality, we note that the change in pension value amount reported in the Change in Pension Value and Nonqualified Deferred Compensation Earnings column does not reflect current compensation and represents the present value of an estimated stream of payments to be made following retirement. The methodology used to report the change in pension value under applicable accounting rules is sensitive to external variables such as assumptions about life expectancy and changes in the discount rate determined at each year end, which are functions of economic factors and actuarial calculations that do not relate to our performance and are outside of the control of the Compensation Committee. |
| | |
|---|---|
| | |
| GATX CORPORATION - 2024 Proxy Statement | 55 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.