APi Group Corp
For the period ended Jun 14, 2024. Filed Apr 29, 2024.
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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.
Jun 14, 2024 · Filed Apr 29, 2024
Contents
Components of the Executive Compensation Program
Our NEOs receive a base salary, annual cash incentive compensation, and annual equity incentive
awards (each, an “LTI Award”) and participate in our employee benefits programs and plans.
In the first quarter of 2023, the Compensation Committee approved, and the Company implemented,
the executive compensation program for 2023.
The following table summarizes the primary components of the 2023 executive compensation
program:
| Role | Compensation Element & Purpose | Key Characteristics | How the Amount is Determined |
|---|---|---|---|
| Fixed | Base SalaryAttract and retain top talent | Fixed compensation component paid in cash | Base salary decisions are informed by peer group market data by role, individual contributions to business outcomes, pay equity and future potential, among other factors |
| Variable (At-Risk) | Short-Term Incentives (STI)Align compensation with annual financial performance on key financial metrics and motivate the achievement of those resultsFor further details see the "Short-Term Incentive Compensation" section | Variable compensation payable in cash, based on the achievement of pre-established annual financial goals100% based on Adjusted EBITDAPayouts can range from 0-200% of target | Each NEO has an individual target set as a % of base salaryIndividual target STI % are informed by peer group market data by role, job scope and responsibilities, pay equity and future potentialPayouts are determined based on actual financial results vs. the pre-established annual financial goals |
| Long-Term Incentives (LTI)Align the interests of our executives with shareholders, encourage long-term value creation and serve as a retention vehicleFor further details on the Performance Share Units ("PSUs") and Restricted Stock Units ("RSUs") see the "Long-Term Incentive (LTI)" section. | Variable compensation tied to stock price performance and, in some cases, pre-established 3-year financial goals60% Cumulative Adjusted EBITDA PSUs, payout range of 0-200%; 40% RSUs | Each NEO has an individual target set as a % of base salaryIndividual target LTI %s are informed by peer group market data by role, individual contributions to business outcomes, pay equity and future potential, among other factors |
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