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
Summary Compensation Table
The following table summarizes the compensation of our NEOs for the fiscal years presented.
| Name and PrincipalPosition · Year · Salary ($) · Bonus($) · StockAwards($)(1)(2) · Non-EquityIncentivePlanCompensation($)(3) · All OtherCompensation($)(4) · Total($) | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Russell A. Becker | 2023 | $1,425,000 | — | $5,700,030 | $3,012,094 | $60,506 | $10,197,630 | ||||||
| President and Chief Executive Officer | 2022 | $1,350,000 | — | $5,400,052 | $1,898,100 | $53,705 | $8,701,857 | ||||||
| 2021 | $1,250,012 | — | $5,700,280 | $1,025,000 | $52,216 | $8,027,508 | |||||||
| Kevin S. Krumm | 2023 | $792,315 | — | $1,980,020 | $1,339,272 | $39,732 | $4,151,339 | ||||||
| Executive Vice President and Chief Financial Officer | 2022 | $750,000 | — | $1,875,022 | $1,054,500 | $27,398 | $3,706,920 | ||||||
| 2021 | $213,068 | — | $1,250,003 | $220,000 | $5,199 | $1,688,270 | |||||||
| Louis B. Lambert | 2023 | $500,000 | — | $875,018 | $634,125 | $22,127 | $2,031,270 | ||||||
| Senior Vice President,General Counsel and Secretary | 2022 | $218,750 | $120,000 | $600,013 | $230,672 | $5,431 | $1,174,866 | ||||||
| Kristina M. Morton | 2023 | $475,000 | — | $712,530 | $602,419 | $32,061 | $1,822,010 | ||||||
| Senior Vice President, Chief People Officer | 2022 | $397,211 | $107,000 | $1,600,017 | $418,859 | $16,896 | $2,539,983 | ||||||
(1)The amounts in this column do not reflect compensation actually received by the NEOs, nor do they reflect the actual
value that will be recognized by the NEOs. Instead, the amounts represent the aggregate grant date fair value of awards
computed in accordance with FASB ASC Topic 718. For a discussion of valuation assumptions used in calculating the
amounts for 2023, see Note 20 to our historical consolidated financial statements for the year ended December 31, 2023
included in our Annual Report on Form 10-K for the year ended December 31, 2023.
(2)Amounts shown in this column represent the aggregate grant date fair value of PSUs granted to certain of our NEOs, and
the grant date fair value of time-based RSUs granted to each of our NEOs in the fiscal years indicated, computed in
accordance with FASB ASC Topic 718. The aggregate grant date fair value of the PSUs that have an EBITDA performance
condition was computed based on the probable outcome of the applicable performance target as of the grant date and
100% achievement of such performance target. For 2023, the value of these PSUs at the grant date assuming the highest
level of performance achieved, earned at 200% of target would be $6,840,045 for Mr. Becker; $2,376,006 for Mr. Krumm;
$1,050,012 for Mr. Lambert; and $855,017 for Ms. Morton. The grant date fair value of the time-based RSUs was computed
in accordance with FASB ASC Topic 718, based on the closing market price of our common stock on the grant date.
Additional information regarding the 2023 equity awards is set forth below in the Grants of Plan-Based Awards During
2023 table.
(3)The amounts reported reflect compensation earned for 2023 performance under our annual cash incentive
compensation program. We make payments under this program in the first quarter of the fiscal year following the fiscal
year in which they were earned after finalizing our annual audited financial statements.
(4)These amounts represent Company matching contributions to the 401(k) Plan, Company profit-sharing contributions of
common stock to the 401(k) Plan, executive life and disability insurance benefits, annual executive physicals, club fees
and car allowance. Additional detail regarding the components of the amounts shown for 2023 for each of our NEOs is
provided in the "All Other Compensation Table" below.
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All Other Compensation Table
The following table provides additional information on the amounts reported in the All Other
Compensation column of the Summary Compensation Table for 2023.
| R. Becker | K. Krumm | L. Lambert | K. Morton | |
|---|---|---|---|---|
| 401(k) Contributions by Company | ||||
| Profit Sharing(1) | $9,081 | $9,081 | $0 | $0 |
| Cash Match | $9,494 | $11,250 | $11,250 | $11,250 |
| Executive Life and Disability | $27,067 | $6,535 | $1,877 | $11,811 |
| Annual Executive Physicals | $0 | $3,866 | $0 | $0 |
| Club Fees | $5,864 | $0 | $0 | $0 |
| Car Allowance | $9,000 | $9,000 | $9,000 | $9,000 |
| Total | $60,506 | $39,732 | $22,127 | $32,061 |
(1) Mr. Lambert and Ms. Morton were not eligible to receive profit sharing contributions in 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.