Notes:
†Three-year return to shareholders calculated on a fiscal-year basis.
N.A. = Not available
CURRENCY NOTE: All figures reported in foreign currency were converted to U.S.
dollars using the average annual exchange rate for the 12 months of each
company’s fiscal year. For Canadian companies with a fiscal year corresponding
to calendar-year 2006, the following average annual rate was used:
C$1=US$0.881.
a) The salary of Stephen Newlin reflects a partial year as PolyOne Corp.’s chairman, president and CEO. Newlin’s stock awards include $769,080 representing 87,000 phantom units (each unit worth one share of common stock) valued at target and originally disclosed as a cash-incentive plan.
b) Stock awards for Tupperware Brands Corp.’s Rick Goings include $1,370,400 at a target of 60,000 shares awarded under the firm’s performance share plan and valued using the closing stock price on the earliest available date after the grant (Jan. 3, 2006).
c) Donald Walker’s bonus from Magna International Inc. includes 12,453 restricted stock units valued at $917,000.
d) Siegried Wolf’s 2006 bonus from Magna includes 12,453 restricted stock units valued at $917,000.
e) Vincent Galifi’s bonus from Magna includes 6,226 restricted stock units valued at $458,000.
f) John Schulze resigned as Lamson & Sessions Co. president and CEO effective Nov. 15, 2006. He retired as an executive officer April 30, 2007, but continues to serve as nonexecutive chairman of the board until the 2008 annual meeting.
g) Robert Stefanko retired from A. Schulman Inc. on Nov. 1, 2006.
h) The salary of Michael Merriman Jr. reflects a partial year as president and CEO of Lamson & Sessions.
i) Melbourne Yull retired as Intertape Polymer Group Inc.’s chairman and CEO on June 14, 2006. Not included in Yull’s total compensation figure is about $5.5 million in cash consideration and about $130,000 in pension, which he received at retirement.
j) David Halversen’s stock awards include $114,200 at a target of 5,000 shares awarded under Tupperware’s performance share plan and valued using the closing stock price on the earliest available date after the grant (Jan. 3, 2006).
k) James V. Faulkner Jr. retired from Pactiv Corp. effective Dec. 31, 2006.
l) R. Glenn Drake’s stock awards include $114,200 at a target of 5,000 shares awarded under Tupperware’s performance share plan valued using the closing stock price on the earliest available date after the grant (Jan. 3, 2006).
m) Donald Gutierrez’s stock awards from Lamson & Sessions includes $5,722 as a 20 percent match on the value of the executive’s deferral of the firm’s 2005 EICP (executive incentive compensation plan) award.
n) Kevin O’Neil resigned from Myers Industries Inc. effective Aug. 8, 2006.
o) Thomas Roehlk’s stock awards include $57,100 at a target of 2,500 shares awarded under Tupperware’s performance share plan valued using the closing stock price on the earliest available date after the grant (Jan. 3, 2006).
p) Michael Poteshman’s stock awards include $57,100 at a target of 2,500 shares awarded under Tupperware’s performance share plan valued using the closing stock price on the earliest available date after the grant (Jan. 3, 2006).
q) All ICO Inc. executive salaries are rounded.
r) Fred Lampropoulos’ salary from Merit Medical Systems Inc. includes director fees of $26,400. Also, his option awards represent options granted as compensation for service as a director.
s) John Gottwald’s salary from Tredegar Corp. reflects a partial year.
t) James Simonton retired as Core Molding Technologies Inc. CEO and president effective Jan. 1, 2007.
u) Raymond Mabus’ salary from Foamex International Inc. reflects a partial year. Upon the firm’s emergence from bankruptcy, Mabus entered into an employment agreement Feb. 12, 2007, under which he is entitled to receive an annual base salary of $650,000.
v) Norman Sutterer’s stock awards from Lamson & Sessions include $5,058 as a 20 percent match on the value of the executive’s deferral of the firm’s 2005 EICP award.
w) K. Douglas Ralph resigned from Foamex on April 7, 2006, by mutual agreement. His resignation became effective May 12, 2006.
x) Anthony Bova was terminated as Atlantis Plastics Inc. president and CEO on Sept. 22, 2006.
y) J. Stuart Prosser retired as an officer of Sealed Air Corp. as of Oct. 31, 2006.
z) John Geary’s employment at Atlantis Plastics was terminated May 8, 2006.
aa) Thomas Chorman resigned from Foamex effective June 7, 2006.
bb) Donald Merril’s salary from Myers Industries reflects a partial year.
cc) Michel Moggio’s salary from Mega Brands Inc. has been annualized.
dd) According to Intertape’s annual compensation table, H. Dale McSween received 202,492 options; but, according to the firm’s option grants for the year ended Dec. 31, 2006, McSween received no options. Therefore, the ranking shows N.A. for his option awards.
ee) Eileen Clancy’s stock awards from Lamson & Sessions include $6,560 made in 2005 as a 20 percent match on the value of the executive’s deferral of the firm’s 2005 EICP award.
ff) Kent Stanger’s salary from Merit Medical includes director fees of $26,000. Also, his option awards represent options granted as compensation for service as a director.
gg) Gregory Stodnick resigned as Myers Industries’ CFO, effective April 25, 2006.
hh) Norman Scher retired as Tredegar’s president and CEO on March 1, 2006, but he continues as vice chairman and a nonexecutive employee.
ii) As part of Channell Commercial Corp.’s reorganization plan, John Kaiser ceased serving as vice president of North American sales, effective Jan. 3, 2007.
COMPENSATION CATEGORY DEFINITIONS: New Securities and Exchange Commision
executive compensation disclosure regulations for publicly held companies have
redefined what firms report and how they report it. For their 2006 fiscal years,
some firms followed the new SEC rules, while others had not yet made that
changeover and disclosed 2006 compensation based on the old rules. Below is
a list of important changes in Plastics News’ Executive Compensation Ranking
related to new vs. old SEC-regulated disclosures:
BONUS: For companies complying with new regulations, BONUS now refers to the
sum of an executive’s bonus and short-term incentive pay. In the old regulations,
BONUS is disclosed as such in the proxy’s Summary Compensation Table.
STOCK AWARDS: For both old and new regulations, the PN chart’s STOCK AWARDS
category represents stock awards and the target value of long-term inventive plan
awards denominated in stock or units.
OPTION AWARDS: In new regulations, this category refers to service-based option
awards and the target value of long-term incentive plan awards denominated in
options. For firms reporting under old regulations, it refers to service-based
option awards and the target value of long-term incentive plan awards denominated
in options, when available; or the estimated value, when unavailable.
LONG-TERM CASH AWARDS: For all companies, this category represents the target
value of long-term incentive plan awards denominated in cash.
Plastics News’ compensation chart ranks executives of public companies generating
roughly 50 percent or more of their annual sales from processing plastics,
including compounding.
Equilar Inc., an executive compensation research firm located in Redwood City,
Calif., supplied the data for Plastics News’ ranking of executives of publicly
held plastics processing companies. Equilar offers a suite of Web-based tools
for analyzing compensation and corporate governance trends. Equilar helps its
clients make informed decisions on board-level compensation-related matters
with independent research drawn directly from annual proxy filings. Equilar
Inc. can be found online at www.equilar.com.
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