|
DATE AND TIME:
|
| | Thursday, May 6, 2021, 8:30 a.m., Eastern Time | |
|
PLACE:
|
| | Virtually at www.virtualshareholdermeeting.com/VECO2021 and in person at Veeco’s headquarter offices located at Terminal Drive, Plainview, New York 11803 | |
|
ITEMS OF BUSINESS:
|
| |
1.
To elect three directors named in the proxy statement to hold office until the 2024 Annual Meeting of Stockholders and until their successors are duly elected and qualified;
2.
To approve an amendment to Veeco’s 2016 Employee Stock Purchase Plan to increase the authorized shares of Veeco’s common stock thereunder by 750,000 shares;
3.
To approve, on a non-binding advisory basis, the compensation of our named executive officers;
4.
To ratify the appointment of KPMG LLP as our independent registered public accounting firm for 2021; and
5.
To consider such other business as may properly come before the meeting.
|
|
|
WHO CAN VOTE:
|
| | You must be a stockholder of record at the close of business on March 9, 2021 to vote at the Annual Meeting. | |
|
INTERNET AVAILABILITY:
|
| | We are using the internet as our primary means of furnishing proxy materials to most of our stockholders. Rather than sending our stockholders a paper copy of our proxy materials, we are sending them a Notice of Internet Availability of Proxy Materials (“Notice”) with instructions for accessing the materials and voting their shares. The Proxy Statement and our 2020 Annual Report on Form 10-K are available free of charge at www.veeco.com. | |
|
PROXY VOTING:
|
| | We cordially invite you to participate in the Annual Meeting. While in person attendance is permitted, in the interest of health and safety we strongly encourage stockholders desiring to attend the Annual Meeting to do so virtually at www.virtualshareholdermeeting.com/VECO2021. You may vote in person at the Annual Meeting or by telephone, through the internet or by mailing your completed proxy card, following the instructions in the Notice and in the Proxy Statement. | |
| | | |
By order of the Veeco Instruments Inc. Board of Directors,
Kirk W. Mackey
Corporate Secretary
March 17, 2021
Plainview, New York |
|
| | | | | 1 | | | |
| STOCK OWNERSHIP | | | | | | | |
| | | | | 5 | | | |
| | | | | 6 | | | |
| GOVERNANCE | | | | | | | |
| | | | | 7 | | | |
| | | | | 7 | | | |
| | | | | 8 | | | |
| | | | | 8 | | | |
| | | | | 9 | | | |
| | | | | 9 | | | |
| | | | | 9 | | | |
| | | | | 10 | | | |
| | | | | 10 | | | |
| | | | | 11 | | | |
| | | | | 12 | | | |
| | | | | 12 | | | |
| COMPENSATION | | | | | | | |
| | | | | 14 | | | |
| | | | | 15 | | | |
| | | | | 26 | | | |
| | | | | 27 | | | |
| | | | | 29 | | | |
| | | | | 29 | | | |
| | | | | 30 | | | |
| | | | | 33 | | | |
| | | | | 34 | | | |
| | | | | 38 | | | |
| AUDIT MATTERS | | | | | | | |
| | | | | 40 | | | |
| | | | | 41 | | | |
| | | | | 41 | | | |
| | | | | 42 | | | |
| VOTING PROPOSALS | | | | | | | |
| | | | | 43 | | | |
| | | | | 47 | | | |
| | | | | 51 | | | |
| | | | | 52 | | | |
| | | | | 53 | | | |
| APPENDIX | | | | | | | |
| | | | | A-1 | | |
| |
Voting Matters and Board Recommendations
|
| | ||||||||
| |
Proposal
|
| | |
Required Vote
|
| | |
Board Vote Recommendation
|
| |
| |
Proposal 1
Election of three nominees named herein as directors. |
| | | Each nominee must receive a majority of the votes cast. | | | |
FOR each nominee
|
| |
| |
Proposal 2
Approval of an Amendment to the 2016 Employee Stock Purchase Plan. |
| | | This proposal will be considered approved if more votes are cast in favor than against. | | | |
FOR
|
| |
| |
Proposal 3
Advisory vote to approve the compensation of our named executive officers, or “Say on Pay.” |
| | | This non-binding proposal will be considered approved if more votes are cast in favor than against. | | | |
FOR
|
| |
| |
Proposal 4
Ratification of the appointment of our independent registered public accounting firm for 2021. |
| | | This proposal will be considered approved if more votes are cast in favor than against. | | | |
FOR
|
| |
| |
How to Vote
|
| | ||||||||||||
| |
Via the Internet
|
| | |
By Telephone
|
| | |
By Mail
|
| | |
At our Meeting
|
| |
| |
|
| | |
|
| | |
|
| | |
|
| |
| |
www.proxyvote.com
|
| | |
Call 1-800-776-9437 (U.S. domestic)
1-718-921-8500 (international) |
| | |
Follow the instructions on your proxy/voting instruction card
|
| | |
Attend our Annual Meeting virtually at www.virtualshareholder
meeting.com/VECO2021 or in person and vote by the means provided |
| |
| | | | | | | | | | | | |
Director
since |
| | |
Independent(1)
|
| | |
Committee Membership
|
| | |||||||||||
| |
Name
|
| | |
Age
|
| | |
AC
|
| | |
CC
|
| | |
GC
|
| | ||||||||||||||
| | Kathleen A. Bayless | | | | | | 64 | | | | | | | 2016 | | | | |
Yes
|
| | |
C/FE
|
| | | | | | | | | |
| | Richard A. D’Amore | | | | | | 67 | | | | | | | 1990 | | | | |
Yes (Chair)
|
| | | | | | |
M
|
| | | | | |
| | Gordon Hunter | | | | | | 69 | | | | | | | 2010 | | | | |
Yes
|
| | | | | | |
C
|
| | |
M
|
| |
| | Keith D. Jackson | | | | | | 65 | | | | | | | 2012 | | | | |
Yes
|
| | |
M/FE
|
| | | | | | |
C
|
| |
| | William J. Miller, Ph.D. | | | | | | 52 | | | | | | | 2018 | | | | |
No
|
| | | | | | | | | | | | | |
| | Mary Jane Raymond | | | | | | 60 | | | | | | | 2019 | | | | |
Yes
|
| | |
M/FE
|
| | | | | | | | | |
| | Peter J. Simone | | | | | | 73 | | | | | | | 2004 | | | | |
Yes
|
| | |
M/FE
|
| | | | | | |
M
|
| |
| | Thomas St. Dennis | | | | | | 67 | | | | | | | 2016 | | | | |
Yes
|
| | | | | | |
M
|
| | | | | |
| |
Board and Other Governance Information
|
| | |
As of March 17, 2021
|
| |
| | Size of Board as Nominated | | | |
8
|
| |
| | Average Age of Director Nominees and Continuing Directors | | | |
65 years
|
| |
| | Average Tenure of Director Nominees and Continuing Directors | | | |
9.4 years
|
| |
| | Standard Deviation of Director Tenure | | | |
9.0 years
|
| |
| | Percentage of Continuing Directors and Nominees who are Independent | | | |
87.5%
|
| |
| | Percentage of Directors who attended all Board Meetings | | | |
100%
|
| |
| |
Number of Director Nominees and Continuing Directors Who Serve on More Than Three Public Company Boards (total, including the Company)
|
| | |
0
|
| |
| | Number of Other Public Company Boards Served by Board Chairman | | | |
1
|
| |
| | Directors Subject to Stock Ownership Guidelines (3x annual cash retainers) | | | |
Yes
|
| |
| | Annual Election of Directors | | | |
No
|
| |
| | Voting Standard | | | |
Majority
|
| |
| | Plurality Voting Carve-out for Contested Elections | | | |
Yes
|
| |
| | Independent Chairman | | | |
Yes
|
| |
| | Independent Directors Meet Without Management Present | | | |
Yes
|
| |
| | Annual Board, Committee and Individual Director Self-Evaluations | | | |
Yes
|
| |
| | Annual Independent Director Evaluation of CEO | | | |
Yes
|
| |
| | Risk Oversight by Full Board and Committees | | | |
Yes
|
| |
| | Board Orientation/Education Program | | | |
Yes
|
| |
| | Code of Conduct Applicable to Directors | | | |
Yes
|
| |
| | Stockholder Ability to Call Special Meetings | | | |
50% of Outstanding Shares
|
| |
| | Stockholder Ability to Act by Written Consent | | | |
No
|
| |
| | Poison Pill | | | |
No
|
| |
| |
Percentage of Multiple Voting Rights or Voting Certificates Relative to Total Voting Rights
|
| | |
0%
|
| |
| | Percentage of Issued Share Capital Composed of Non-Voting Shares | | | |
0%
|
| |
| | | | | |
Shares of Common Stock
Beneficially Owned(1) |
| | |
Percentage of
Total Shares Outstanding(1) |
| | ||||||||||||||||||||
| | | | | |
Shares
|
| | |
Options
|
| | |
Total
|
| | ||||||||||||||||
| | 5% or Greater Stockholders: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | BlackRock, Inc.(2) | | | | | | 7,589,479 | | | | | | | — | | | | | | | 7,589,479 | | | | | | | 15.3% | | | |
| | The Vanguard Group(3) | | | | | | 5,044,663 | | | | | | | — | | | | | | | 5,044,663 | | | | | | | 10.2% | | | |
| | Invesco Ltd.(4) | | | | | | 4,448,513 | | | | | | | — | | | | | | | 4,448,513 | | | | | | | 9.0% | | | |
| | Paradigm Capital Management(5) | | | | | | 2,733,800 | | | | | | | — | | | | | | | 2,733,800 | | | | | | | 5.5% | | | |
| | Directors: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Kathleen A. Bayless | | | | | | 37,948 | | | | | | | — | | | | | | | 37,948 | | | | | |
|
*
|
| | |
| | Richard A. D’Amore | | | | | | 122,653 | | | | | | | — | | | | | | | 122,653 | | | | | |
|
*
|
| | |
| | Gordon Hunter | | | | | | 56,312 | | | | | | | — | | | | | | | 56,312 | | | | | |
|
*
|
| | |
| | Keith D. Jackson | | | | | | 52,512 | | | | | | | — | | | | | | | 52,512 | | | | | |
|
*
|
| | |
| | William J. Miller, Ph.D. | | | | | | 225,590 | | | | | | | 76,310 | | | | | | | 301,900 | | | | | |
|
*
|
| | |
| | Mary Jane Raymond | | | | | | 13,291 | | | | | | | — | | | | | | | 13,291 | | | | | |
|
*
|
| | |
| | Peter J. Simone | | | | | | 47,146 | | | | | | | — | | | | | | | 47,146 | | | | | |
|
*
|
| | |
| | Thomas St. Dennis | | | | | | 37,960 | | | | | | | — | | | | | | | 37,960 | | | | | |
|
*
|
| | |
| | Named Executive Officers: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | William J. Miller, Ph.D. | | | | | | 225,590 | | | | | | | 76,310 | | | | | | | 301,900 | | | | | |
|
*
|
| | |
| | John Kiernan | | | | | | 53,853 | | | | | | | 21,470 | | | | | | | 75,323 | | | | | |
|
*
|
| | |
| | Adrian Devasahayam, Ph.D. | | | | | | 43,510 | | | | | | | 14,307 | | | | | | | 57,817 | | | | | | | * | | | |
| | Peter Porshnev, Ph.D. | | | | | | 72,467 | | | | | | | 30,530 | | | | | | | 102,997 | | | | | |
|
*
|
| | |
| | Susan Wilkerson | | | | | | 66,667 | | | | | | | — | | | | | | | 66,667 | | | | | | | * | | | |
| |
All Directors and Executive Officers as a Group (12 persons)
|
| | | | | 829,909 | | | | | | | 142,617 | | | | | | | 972,526 | | | | | | | 2.0% | | | |
| |
Board Committee
|
| | |
Quarterly
Retainer for Non-Chair Membership ($) |
| | |
Quarterly
Retainer for Chair Membership ($) |
| | ||||||
| | Audit | | | | | | 2,500 | | | | | | | 5,250 | | | |
| | Compensation | | | | | | 1,875 | | | | | | | 3,750 | | | |
| | Governance | | | | | | 1,250 | | | | | | | 2,500 | | | |
| |
Name
|
| | |
Fees Earned
or Paid in Cash ($)(1) |
| | |
Stock
Awards ($)(2)(3) |
| | |
All Other
Compensation ($) |
| | |
Total ($)
|
| | ||||||||||||
| | Kathleen A. Bayless | | | | | | 90,500 | | | | | | | 119,993 | | | | | | | — | | | | | | | 210,493 | | | |
| | Richard A. D’Amore | | | | | | 107,750 | | | | | | | 119,993 | | | | | | | — | | | | | | | 227,743 | | | |
| | Gordon Hunter | | | | | | 90,000 | | | | | | | 119,993 | | | | | | | — | | | | | | | 209,993 | | | |
| | Keith D. Jackson | | | | | | 90,000 | | | | | | | 119,993 | | | | | | | — | | | | | | | 209,993 | | | |
| | Mary Jane Raymond | | | | | | 77,360 | | | | | | | 59,991 | | | | | | | — | | | | | | | 137,351 | | | |
| | Peter J. Simone | | | | | | 85,000 | | | | | | | 119,993 | | | | | | | — | | | | | | | 204,993 | | | |
| | Thomas St. Dennis | | | | | | 77,500 | | | | | | | 119,993 | | | | | | | — | | | | | | | 197,493 | | | |
| |
Outstanding Equity Awards at Fiscal Year End
|
| | ||||||||||||||
| |
Name
|
| | |
Stock
Awards (#) |
| | |
Option
Awards (#) |
| | ||||||
| | Kathleen A. Bayless | | | | | | 10,389 | | | | | | | — | | | |
| | Richard A. D’Amore | | | | | | 10,389 | | | | | | | — | | | |
| | Gordon Hunter | | | | | | 10,389 | | | | | | | — | | | |
| | Keith D. Jackson | | | | | | 10,389 | | | | | | | — | | | |
| | Mary Jane Raymond | | | | | | 5,194 | | | | | | | — | | | |
| | Peter J. Simone | | | | | | 10,389 | | | | | | | — | | | |
| | Thomas St. Dennis | | | | | | 10,389 | | | | | | | — | | | |
| |
Name
|
| | |
Age
|
| | |
Position
|
| |
| | William J. Miller, Ph.D. | | | |
52
|
| | | Chief Executive Officer | | |
| | John P. Kiernan | | | |
58
|
| | | Senior Vice President, Chief Financial Officer | | |
| | Adrian Devasahayam, Ph.D. | | | |
50
|
| | | Senior Vice President, Product Line Management | | |
| | Peter Porshnev, Ph.D. | | | |
57
|
| | | Senior Vice President, Unified Engineering | | |
| | Susan Wilkerson | | | |
60
|
| | | Senior Vice President, Global Sales & Services | | |
|
Performance-based:
|
| | Compensation levels should be determined based on Company financial performance and individual results, each as compared to quantitative and qualitative performance priorities set at the beginning of the performance period. The ratio of performance-based compensation to fixed compensation shall increase with the level of the executive, with the greatest amount of performance-based compensation at the CEO level. Performance-based compensation should be subject to a complete risk of forfeiture. | |
|
Stockholder-aligned:
|
| | A significant portion of potential compensation should be performance- and time-based equity to more closely align the interests of executives with those of our stockholders. | |
|
Fair and Competitive:
|
| | Compensation levels should be fair, internally and externally, and competitive with overall compensation levels at other companies with which we compete for talent. Our compensation programs should promote our ability to both attract and retain our employees, including our executives. | |
|
CEO Compensation Elements
|
| |
Other NEO Compensation Elements
|
|
|
|
| |
|
|
|
3D Systems Corporation
Advanced Energy Industries, Inc. Axcelis Technologies, Inc. Badger Meter, Inc. Brooks Automation, Inc. Cabot Microelectronics Corporation Cohu, Inc. Cray Inc. Entegris, Inc. FormFactor, Inc. Kulicke and Soffa Industries, Inc. Monolithic Power Systems, Inc. Nanometrics Incorporated(1) |
| |
OSI Systems, Inc.
Photronics, Inc. Power Integrations, Inc. Pure Storage, Inc. Rambus Inc. Rudolph Technologies, Inc.(1) Semtech Corporation SolarEdge Technologies, Inc. Ultra Clean Holdings, Inc. Versum Materials, Inc. Xcerra Corporation(2) Xperi Corporation |
|
| |
Name
|
| | |
2019
Base Salary |
| | |
2020
Base Salary |
| | |
Percent Change
|
| | |||||||||
| | W. Miller | | | | | $ | 575,000 | | | | | | $ | 575,000 | | | | | | | 0.0% | | | |
| | J. Kiernan | | | | | $ | 317,750 | | | | | | $ | 360,000 | | | | | | | 13.3%(1) | | | |
| | A. Devasahayam | | | | | $ | 310,000 | | | | | | $ | 345,000 | | | | | | | 11.3%(1) | | | |
| | P. Porshnev | | | | | $ | 371,315 | | | | | | $ | 385,000 | | | | | | | 3.7% | | | |
| | S. Wilkerson | | | | | | n/a(2) | | | | | | $ | 375,000 | | | | | | | n/a(2) | | | |
| |
Performance Level
|
| | |
Adjusted
Operating Income ($ million) |
| | |
Award Percentage
|
| | ||||||
| | Maximum | | | | | $ | 89.9 | | | | | | | 200% | | | |
| | Actual | | | | | $ | 66.9 | | | | | | | 138% | | | |
| | Target | | | | | $ | 52.8 | | | | | | | 100% | | | |
| | Threshold | | | | | $ | 15.0 | | | | | | | 25% | | | |
| |
Name
|
| | |
Target Bonus
(Total Amount / % of Base Salary) |
| | |
Financial
Performance Adjusted Target (138.0% of Target) |
| | |
Financial
Performance Award (75% of Adjusted Target) |
| | |
Individual
Performance Target (25% of Adjusted Target) |
| | |
Individual
Performance Award % / $ |
| | |
Final Bonus
Award (Total Amount / % of Target) |
| | ||||||||||||
| | W. Miller | | | | | $ | 632,500/110% | | | | | | $ | 872,850 | | | | | | $ | 654,638 | | | | | | $ | 218,212 | | | | |
100%/$218,212
|
| | |
$872,850 / 138.0%
|
| |
| | J. Kiernan | | | | | $ | 234,000/65% | | | | | | $ | 323,920 | | | | | | $ | 242,190 | | | | | | $ | 80,730 | | | | |
100%/$80,730
|
| | |
$322,920 / 138.0%
|
| |
| |
A Devasahayam
|
| | | | $ | 207,000/60% | | | | | | $ | 285,660 | | | | | | $ | 214,245 | | | | | | $ | 71,415 | | | | |
100%/$71,415
|
| | |
$285,660 / 138.0%
|
| |
| | P. Porshnev | | | | | $ | 231,000/60% | | | | | | $ | 318,780 | | | | | | $ | 239,085 | | | | | | $ | 79,695 | | | | |
100%/$79,695
|
| | |
$318,780 / 138.0%
|
| |
| | S. Wilkerson | | | | | $ | 202,500/75%* | | | | | | $ | 279,450 | | | | | | $ | 209,588 | | | | | | $ | 69,862 | | | | |
100%/$69,862
|
| | |
$279,450 / 138.0%
|
| |
| |
Name
|
| | |
Target Bonus for
2021 |
| | |||
| | W. Miller | | | | | | 110% | | | |
| | J. Kiernan | | | | | | 70% | | | |
| | A Devasahayam | | | | | | 60% | | | |
| | P. Porshnev | | | | | | 60% | | | |
| | S. Wilkerson | | | | | | 75% | | | |
| | | | | | | | | | | | |
Performance-based Restricted Stock Units
|
| | |
Time-based Restricted Stock
|
| | ||||||||||||||||||||||||||||||||||
| |
Name
|
| | |
Date of
Grant |
| | |
Amount
|
| | |
Fair
Market Value Per Share |
| | |
Total
Value ($)(1) |
| | |
Amount
|
| | |
Fair
Market Value Per Share |
| | |
Total
Value ($) |
| | |||||||||||||||||||||
| | W. Miller | | | | | | 03/17/2020 | | | | | | | 75,730 | | | | | | $ | 7.84 | | | | | | $ | 593,723 | | | | | | | 40,770 | | | | | | $ | 7.84 | | | | | | $ | 319,637 | | | |
| | J. Kiernan(2) | | | | | | 01/02/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,000 | | | | | | $ | 14.69 | | | | | | $ | 176,280 | | | |
| | | | | | | | 03/17/2020 | | | | | | | 30,550 | | | | | | $ | 7.84 | | | | | | $ | 239,512 | | | | | | | 4,450 | | | | | | $ | 7.84 | | | | | | $ | 34,888 | | | |
| | A. Devasahayam | | | | | | 03/17/2020 | | | | | | | 19,500 | | | | | | $ | 7.84 | | | | | | $ | 152,880 | | | | | | | 10,500 | | | | | | $ | 7.84 | | | | | | $ | 82,320 | | | |
| | P. Porshnev | | | | | | 03/17/2020 | | | | | | | 19,500 | | | | | | $ | 7.84 | | | | | | $ | 152,880 | | | | | | | 10,500 | | | | | | $ | 7.84 | | | | | | $ | 82,320 | | | |
| | S. Wilkerson(3) | | | | | | 05/01/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 66,667 | | | | | | $ | 10.93 | | | | | | $ | 728,670 | | | |
| |
Performance Range
|
| | |
Percentile Rank of
Russell 2000 Index |
| | |
Percentage of Units Earned(1)
|
| |
| |
Maximum
|
| | |
75th Percentile
|
| | |
200%
|
| |
| |
Target
|
| | |
50th Percentile
|
| | |
100%
|
| |
| |
Threshold
|
| | |
25th Percentile
|
| | |
50%
|
| |
| |
Below Threshold
|
| | |
Less than 25th Percentile
|
| | |
0%
|
| |
| |
Performance Range
|
| | |
Percentile Rank of
Russell 2000 Index |
| | |
Percentage of Units Earned(1)
|
| |
| |
Maximum
|
| | |
75th Percentile
|
| | |
200%
|
| |
| |
Target
|
| | |
50th Percentile
|
| | |
100%
|
| |
| |
Threshold
|
| | |
25th Percentile
|
| | |
50%
|
| |
| |
Below Threshold
|
| | |
Less than 25th Percentile
|
| | |
0%
|
| |
| |
Name and Principal
Position |
| | |
Year
|
| | |
Salary
($) |
| | |
Bonus
($) |
| | |
Stock
Awards ($)(1) |
| | |
Option
Awards ($) |
| | |
Non-Equity
Incentive Plan Compensation ($)(2) |
| | |
All
Other Compensation ($)(3) |
| | |
Total ($)
|
| | ||||||||||||||||||||||||
| | William J. Miller, | | | | | | 2020 | | | | | | | 597,116(a) | | | | | | | — | | | | | | | 1,121,618 | | | | | | | — | | | | | | | 872,850 | | | | | | | 18,925 | | | | | | | 2,610,509(b) | | | |
| |
CEO
|
| | | | | 2019 | | | | | | | 575,000 | | | | | | | — | | | | | | | 3,176,804 | | | | | | | — | | | | | | | — | | | | | | | 18,042 | | | | | | | 3,769,846(b) | | | |
| | | | | | | | 2018 | | | | | | | 508,865 | | | | | | | — | | | | | | | 3,041,801 | | | | | | | — | | | | | | | — | | | | | | | 17,892 | | | | | | | 3,568,558(b) | | | |
| | John P. Kiernan | | | | | | 2020 | | | | | | | 371,896(a) | | | | | | | — | | | | | | | 534,693 | | | | | | | — | | | | | | | 322,920 | | | | | | | 20,280 | | | | | | | 1,249,789 | | | |
| |
SVP, CFO
|
| | | | | 2019 | | | | | | | 315,664 | | | | | | | — | | | | | | | 169,312 | | | | | | | — | | | | | | | — | | | | | | | 19,222 | | | | | | | 504,198 | | | |
| | | | | | | | 2018 | | | | | | | 307,308 | | | | | | | — | | | | | | | 199,989 | | | | | | | — | | | | | | | — | | | | | | | 19,072 | | | | | | | 526,369 | | | |
| |
Adrian Devasahayam
|
| | | | | 2020 | | | | | | | 348,846(a) | | | | | | | — | | | | | | | 288,825 | | | | | | | — | | | | | | | 285,660 | | | | | | | 18,923 | | | | | | | 942,254 | | | |
| |
SVP, Product Line
Management |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Peter Porshnev, | | | | | | 2020 | | | | | | | 396,124(a) | | | | | | | — | | | | | | | 288,825 | | | | | | | — | | | | | | | 318,780 | | | | | | | 20,105 | | | | | | | 1,023,834 | | | |
| |
SVP, Unified Engineering
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Susan Wilkerson | | | | | | 2020 | | | | | | | 266,827(a) | | | | | | | — | | | | | | | 728,670 | | | | | | | — | | | | | | | 279,450 | | | | | | | 15,128 | | | | | | | 1,290,075 | | | |
| |
SVP, Global Sales
& Services |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
Restricted Stock Awards
|
| | ||||||||||||||||||
| |
Grant Date
|
| | |
Grant Date
Fair Value |
| | |
Name
|
| | |
Number of
Shares |
| | ||||||
| | 01/02/2020(a) | | | | | $ | 14.69 | | | | | J. Kiernan | | | | | | 12,000 | | | |
| | 03/17/2020(b) | | | | | $ | 10.59 | | | | | W. Miller | | | | | | 75,730 | | | |
| | 03/17/2020 | | | | | | | | | | | J. Kiernan | | | | | | 30,550 | | | |
| | 03/17/2020 | | | | | | | | | | |
A. Devasahayam
|
| | | | | 19,500 | | | |
| | 03/17/2020 | | | | | | | | | | | P. Porshnev | | | | | | 19,500 | | | |
| | 03/17/2020(c) | | | | | $ | 7.84 | | | | | W. Miller | | | | | | 40,770 | | | |
| | 03/17/2020 | | | | | | | | | | | J. Kiernan | | | | | | 4,450 | | | |
| | 03/17/2020 | | | | | | | | | | |
A. Devasahayam
|
| | | | | 10,500 | | | |
| | 03/17/2020 | | | | | | | | | | | P. Porshnev | | | | | | 10,500 | | | |
| | 05/01/2020(d) | | | | | $ | 10.93 | | | | | S. Wilkerson | | | | | | 66,667 | | | |
| |
Name
|
| | |
Car
Allowance ($) |
| | |
401(k)
Premium Matching Contribution ($) |
| | |
Total
for Group Term Life Insurance ($) |
| | |
Relocation/
Housing Allowance ($) |
| | |
Other
Compensation ($)(a) |
| | |||||||||||||||
| | W. Miller | | | | | | 8,723 | | | | | | | 8,550 | | | | | | | 1,242 | | | | | | | — | | | | | | | 18,925 | | | |
| | J. Kiernan | | | | | | 8,723 | | | | | | | 8,550 | | | | | | | 2,322 | | | | | | | — | | | | | | | 20,280 | | | |
| | A. Devasahayam | | | | | | 8,723 | | | | | | | 8,550 | | | | | | | 1,290 | | | | | | | — | | | | | | | 18,923 | | | |
| | P. Porshnev | | | | | | 8,723 | | | | | | | 8,550 | | | | | | | 2,322 | | | | | | | — | | | | | | | 20,105 | | | |
| | S. Wilkerson | | | | | | 5,977 | | | | | | | 7,133 | | | | | | | 1,608 | | | | | | | — | | | | | | | 15,128 | | | |
| |
Name
|
| | |
Wellness
Incentive ($) |
| | |
Home Office
Allowance ($) |
| | ||||||
| | W. Miller | | | | | | 50 | | | | | | | 360 | | | |
| | J. Kiernan | | | | | | 325 | | | | | | | 360 | | | |
| | A. Devasahayam | | | | | | — | | | | | | | 360 | | | |
| | P. Porshnev | | | | | | 150 | | | | | | | 360 | | | |
| | S. Wilkerson | | | | | | 50 | | | | | | | 360 | | | |
| | | | | | | | | | | | |
Estimated Future Payouts
Under Non-Equity Incentive Plan Awards(1) |
| | |
Estimated Future Payouts
Under Equity Incentive Plan Awards(2) |
| | |
All
Other Stock Awards: Number of Shares of Stock or Units (#)(3) |
| | |
All Other
Option Awards: Number of Securities Underlying Options (#) |
| | |
Exercise
or Base Price of Option Awards ($/Sh) |
| | |
Market
Price on Date of Grant ($/Sh) |
| | |
Grant
Date Fair Value of Stock and Option Awards ($) |
| | ||||||||||||||||||||||||||||||||||||||||
| |
Name
|
| | |
Grant Date
|
| | |
Threshold
($) |
| | |
Target
($) |
| | |
Maximum
($) |
| | |
Threshold
(#) |
| | |
Target
(#) |
| | |
Maximum
(#) |
| | |||||||||||||||||||||||||||||||||||||||||||||||
| | W. Miller | | | | | | 02/04/2020 | | | | | | | 158,125 | | | | | | | 632,500 | | | | | | | 1,265,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | 03/17/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 37,865 | | | | | | | 75,730 | | | | | | | 151,460 | | | | | | | 40,770 | | | | | | | | | | | | | | | | | | | 1,121,618 | | | |
| | J. Kiernan | | | | | | 01/02/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,000 | | | | | | | | | | | | | | | | | | | 176,280 | | | |
| | | | | | | | 02/04/2020 | | | | | | | 58,500 | | | | | | | 234,000 | | | | | | | 468,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
| | | | | | | | 03/17/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 15,275 | | | | | | | 30,550 | | | | | | | 61,100 | | | | | | | 4,450 | | | | | | | | | | | | | | | | | | | 358,413 | | | |
| | A. Devasahayam | | | | | | 02/04/2020 | | | | | | | 51,750 | | | | | | | 207,000 | | | | | | | 414,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | 03/17/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,750 | | | | | | | 19,500 | | | | | | | 39,000 | | | | | | | 10,500 | | | | | | | | | | | | | | | | | | | 288,825 | | | |
| | P. Porshnev | | | | | | 02/04/2020 | | | | | | | 57,750 | | | | | | | 231,000 | | | | | | | 462,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | 03/17/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9,750 | | | | | | | 19,500 | | | | | | | 39,000 | | | | | | | 10,500 | | | | | | | | | | | | | | | | | | | 288,825 | | | |
| | S. Wilkerson | | | | | | 04/13/2020 | | | | | | | 50,625 | | | | | | | 202,500 | | | | | | | 405,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | 05/01/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 66,667 | | | | | | | | | | | | | | | | | | | 728,670 | | | |
| | | | | |
Option Awards
|
| | |
Stock Awards
|
| | |||||||||||||||||||||||||||||||||||||||||||||
| |
Name
|
| | |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| | |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| | |
Option
Exercise Price ($) |
| | |
Option
Expiration Date |
| | |
Number of
Shares or Units of Stock That Have Not Vested (#)(1) |
| | |
Market
Value of Shares or Units of Stock That Have Not Vested ($) |
| | |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(1) |
| | |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) |
| | |||||||||||||||||||||
| | W. Miller | | | | | | 12,900 | | | | | | | | | | | 51.70 | | | | | | | 06/08/2021 | | | | | | | 107,478 | | | | | | | 1,865,818 | | | | | | | 361,040 | | | | | | | 6,267,655 | | | |
| | | | | | | | 35,000 | | | | | | | | | | | 33.00 | | | | | | | 05/24/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | 16,000 | | | | | | | | | | | 30.47 | | | | | | | 12/12/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | 12,410 | | | | | | | | | | | 32.67 | | | | | | | 06/11/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | J. Kiernan | | | | | | 7,000 | | | | | | | | | | | 51.70 | | | | | | | 06/08/2021 | | | | | | | 22,400 | | | | | | | 388,864 | | | | | | | 45,274 | | | | | | | 785,957 | | | |
| | | | | | | | 18,500 | | | | | | | | | | | 33.00 | | | | | | | 05/24/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | 8,000 | | | | | | | | | | | 30.47 | | | | | | | 12/12/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | 4,620 | | | | | | | | | | | 32.67 | | | | | | | 06/11/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | A. Devasahayam | | | | | | 1,750 | | | | | | | | | | | 51.70 | | | | | | | 06/08/2021 | | | | | | | 27,094 | | | | | | | 470,352 | | | | | | | 28,537 | | | | | | | 495,402 | | | |
| | | | | | | | 2,667 | | | | | | | | | | | 33.00 | | | | | | | 05/24/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | 3,680 | | | | | | | | | | | 30.47 | | | | | | | 12/12/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | 4,210 | | | | | | | | | | | 32.67 | | | | | | | 06/11/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | 2,000 | | | | | | | | | | | 34.71 | | | | | | | 07/31/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | P. Porshnev | | | | | | 10,000 | | | | | | | | | | | 29.21 | | | | | | | 10/31/2023 | | | | | | | 27,209 | | | | | | | 472,349 | | | | | | | 32,631 | | | | | | | 566,474 | | | |
| | | | | | | | 10,530 | | | | | | | | | | | 32.67 | | | | | | | 06/11/2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | 10,000 | | | | | | | | | | | 37.26 | | | | | | | 06/30/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | S. Wilkerson | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 66,667 | | | | | | | 1,157,339 | | | | | | | | | | | | | | | | | |
| | | | | |
Option Awards
|
| | |
Stock Awards
|
| | ||||||||||||||||||
| |
Name
|
| | |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| | |
Option
Exercise Price ($) |
| | |
Option
Grant Date |
| | |
Number of
Shares That Have Not Vested (#)(1) |
| | |
Restricted
Stock Grant Date |
| | ||||||
| | W. Miller | | | | | | | | | | | | | | | | | | 11,050 | | | | | | | 06/16/2017 | | | |
| | | | | | | | | | | | | | | | | | | | 31,457 | | | | | | | 03/14/2018 | | | |
| | | | | | | | | | | | | | | | | | | | 219,511 | | | | | | | 10/01/2018 | | | |
| | | | | | | | | | | | | | | | | | | | 90,000 | | | | | | | 03/14/2019 | | | |
| | | | | | | | | | | | | | | | | | | | 116,500 | | | | | | | 03/17/2020 | | | |
| | J. Kiernan | | | | | | | | | | | | | | | | | | 2,605 | | | | | | | 06/16/2017 | | | |
| | | | | | | | | | | | | | | | | | | | 7,149 | | | | | | | 03/14/2018 | | | |
| | | | | | | | | | | | | | | | | | | | 10,920 | | | | | | | 03/14/2019 | | | |
| | | | | | | | | | | | | | | | | | | | 12,000 | | | | | | | 01/02/2020 | | | |
| | | | | | | | | | | | | | | | | | | | 35,000 | | | | | | | 03/17/2020 | | | |
| | A. Devasahayam | | | | | | | | | | | | | | | | | | 1,035 | | | | | | | 06/16/2017 | | | |
| | | | | | | | | | | | | | | | | | | | 1,323 | | | | | | | 09/01/2017 | | | |
| | | | | | | | | | | | | | | | | | | | 5,873 | | | | | | | 03/14/2018 | | | |
| | | | | | | | | | | | | | | | | | | | 17,400 | | | | | | | 03/14/2019 | | | |
| | | | | | | | | | | | | | | | | | | | 30,000 | | | | | | | 03/17/2020 | | | |
| | P. Porshnev | | | | | | | | | | | | | | | | | | 3,250 | | | | | | | 06/16/2017 | | | |
| | | | | | | | | | | | | | | | | | | | 2,646 | | | | | | | 09/01/2017 | | | |
| | | | | | | | | | | | | | | | | | | | 9,544 | | | | | | | 03/14/2018 | | | |
| | | | | | | | | | | | | | | | | | | | 14,400 | | | | | | | 03/14/2019 | | | |
| | | | | | | | | | | | | | | | | | | | 30,000 | | | | | | | 03/17/2020 | | | |
| | S. Wilkerson | | | | | | | | | | | | | | | | | | 66,667 | | | | | | | 05/01/2020 | | | |
| | | | | |
Option Awards
|
| | |
Stock Awards
|
| | ||||||||||||||||||||
| |
Name
|
| | |
Number of
Shares Acquired on Exercise (#)(1) |
| | |
Value Realized
on Exercise ($) |
| | |
Number of
Shares Acquired on Vesting (#)(1) |
| | |
Value Realized
on Vesting ($) |
| | ||||||||||||
| | W. Miller | | | | | | — | | | | | | | — | | | | | | | 58,060 | | | | | | | 678,518 | | | |
| | J. Kiernan | | | | | | — | | | | | | | — | | | | | | | 10,546 | | | | | | | 123,272 | | | |
| | A. Devasahayam | | | | | | — | | | | | | | — | | | | | | | 14,055 | | | | | | | 157,113 | | | |
| | P. Porshnev | | | | | | — | | | | | | | — | | | | | | | 17,204 | | | | | | | 200,089 | | | |
| | S. Wilkerson | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |
| |
Name
|
| | |
Number of Shares Withheld and/or
Sold for Tax Withholding (#) |
| | |||
| | W. Miller | | | | | | 28,457 | | | |
| | J. Kiernan | | | | | | 5,007 | | | |
| | A. Devasahayam | | | | | | 4,974 | | | |
| | P. Porshnev | | | | | | 6,101 | | | |
| | S. Wilkerson | | | | | | — | | | |
| | | | | |
Number of
securities to be issued upon exercise of outstanding options, warrants, and rights (A) |
| | |
Weighted average
exercise price of outstanding options, warrants, and rights(1) (B) |
| | |
Number of securities
remaining available for future issuance under equity compensation plans (excluding securities reflected in column (A)) (C) |
| | |||||||||
| |
Equity compensation plans approved by security holders
|
| | | | | 1,489,343 | | | | | | $ | 35.25 | | | | | | | 3,844,879 | | | |
| |
Equity compensation plans not approved by security holders
|
| | | | | 6,030 | | | | | | $ | 37.70 | | | | | | | — | | | |
| | Total | | | | | | 1,495,373 | | | | | | | 3,844,879 | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Stock Options
|
| | | | | | | | | | | | | | | | ||||||||||
| |
Name
|
| | |
Event
|
| | |
Salary &
Other Continuing Payments ($)(1) |
| | |
Accelerated
Vesting of Stock Options ($) |
| | |
Extension of
Post- Termination Exercise Period ($)(2) |
| | |
Accelerated
Vesting of Stock Awards ($)(3) |
| | |
Total
($) |
| | |||||||||||||||
| | W. Miller | | | |
Termination without
Cause or resignation for Good Reason |
| | | | | 1,814,122 | | | | | | | 0 | | | | | | | 0 | | | | | | | 1,865,818 | | | | | | | 3,679,940 | | | |
| | | | | |
Termination without
Cause or resignation for Good Reason following a Change of Control(4) |
| | | | | 3,079,122 | | | | | | | 0 | | | | | | | 0 | | | | | | | 8,133,472 | | | | | | | 11,212,594 | | | |
| | J. Kiernan | | | |
Termination without
Cause or resignation for Good Reason |
| | | | | 540,000 | | | | | | | 0 | | | | | | | 0 | | | | | | | 388,864 | | | | | | | 928,864 | | | |
| | | | | |
Termination without
Cause or resignation for Good Reason following a Change of Control(4) |
| | | | | 1,148,952 | | | | | | | 0 | | | | | | | 0 | | | | | | | 1,174,821 | | | | | | | 2,323,773 | | | |
| | A. Devasahayam | | | |
Qualifying Termination
under the Severance Benefits Policy |
| | | | | 258,750 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 258,750 | | | |
| | | | | |
Termination without
Cause or resignation for Good Reason following a Change of Control(4) |
| | | | | 1,035,000 | | | | | | | 0 | | | | | | | 0 | | | | | | | 965,754 | | | | | | | 2,000,754 | | | |
| | P. Porshnev | | | |
Qualifying Termination
under the Severance Benefits Policy |
| | | | | 283,087 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 259,135 | | | |
| | | | | |
Termination without
Cause or resignation for Good Reason following a Change of Control(4) |
| | | | | 1,178,952 | | | | | | | 0 | | | | | | | 0 | | | | | | | 1,038,822 | | | | | | | 2,217,774 | | | |
| | S. Wilkerson | | | |
Qualifying Termination
under the Severance Benefits Policy |
| | | | | 251,424 | | | | | | | 0 | | | | | | | 0 | | | | | | | 0 | | | | | | | 216,345 | | | |
| | | | | |
Termination without
Cause or resignation for Good Reason following a Change of Control(4) |
| | | | | 1,300,704 | | | | | | | 0 | | | | | | | 0 | | | | | | | 1,157,339 | | | | | | | 2,458,043 | | | |
| | | | | |
For the
Year Ended December 31, 2020 (in thousands) |
| | |
For the
Year Ended December 31, 2019 (in thousands) |
| | ||||||
| | Audit Fees(1) | | | | | $ | 2,093 | | | | | | $ | 2,029 | | | |
| | Audit-related Fees | | | | | | — | | | | | | | 20 | | | |
| | Tax Fees(2) | | | | | | 74 | | | | | | | 180 | | | |
| | Total | | | | | $ | 2,167 | | | | | | $ | 2,229 | | | |
| |
Name
|
| | |
Nominated for
Election to: |
| | |
For a Term Expiring
at the Annual Meeting of Stockholders in: |
| | |||
| | Richard A. D’Amore | | | |
Class III
|
| | | | | 2024 | | | |
| | Keith D. Jackson | | | |
Class III
|
| | | | | 2024 | | | |
| | Mary Jane Raymond | | | |
Class III
|
| | | | | 2024 | | | |
| |
Name
|
| | |
Continuing in:
|
| | |
Term Expires at
the Annual Meeting of Stockholders in: |
| | |||
| | William J. Miller, Ph.D. | | | |
Class I
|
| | | | | 2022 | | | |
| | Thomas St. Dennis | | | |
Class I
|
| | | | | 2022 | | | |
| | Kathleen A. Bayless | | | |
Class II
|
| | | | | 2023 | | | |
| | Gordon Hunter | | | |
Class II
|
| | | | | 2023 | | | |
| | Peter J. Simone | | | |
Class II
|
| | | | | 2023 | | | |
| | | | | | | | | |
Director
since |
| | | | | | |
Committee Membership
|
| | ||||||||
| |
Name
|
| | |
Age
|
| | |
Independent(1)
|
| | |
AC
|
| | |
CC
|
| | |
GC
|
| | ||||
| | Kathleen A. Bayless | | | |
64
|
| | |
2016
|
| | |
Yes
|
| | |
C/FE
|
| | | | | | | | | |
| | Richard A. D’Amore | | | |
67
|
| | |
1990
|
| | |
Yes (Chair)
|
| | | | | | |
M
|
| | | | | |
| | Gordon Hunter | | | |
69
|
| | |
2010
|
| | |
Yes
|
| | | | | | |
C
|
| | |
M
|
| |
| | Keith D. Jackson | | | |
65
|
| | |
2012
|
| | |
Yes
|
| | |
M/FE
|
| | | | | | |
C
|
| |
| | William J. Miller, Ph.D. | | | |
52
|
| | |
2018
|
| | |
No
|
| | | | | | | | | | | | | |
| | Mary Jane Raymond | | | |
60
|
| | |
2019
|
| | |
Yes
|
| | |
M/FE
|
| | | | | | | | | |
| | Peter J. Simone | | | |
73
|
| | |
2004
|
| | |
Yes
|
| | |
M/FE
|
| | | | | | |
M
|
| |
| | Thomas St. Dennis | | | |
67
|
| | |
2016
|
| | |
Yes
|
| | | | | | |
M
|
| | | | | |
| |
Name and Principal 2020
Position(s) of Individual, or Group |
| | |
Shares
Purchased (#) |
| | |||
| | William J. Miller, Ph.D., CEO | | | | | | 0 | | | |
| | John P. Kiernan, SVP, CFO | | | | | | 0 | | | |
| | Adrian Devasahayam Ph.D., SVP, Product Line Management | | | | | | 1,711 | | | |
| | Peter Porshnev, Ph.D., SVP, Unified Engineering | | | | | | 1,674 | | | |
| | Susan Wilkerson, SVP, Global Sales & Services | | | | | | 0 | | | |
| | All current executive officers, as a group | | | | | | 3,385 | | | |
| | All non-executive directors, as a group | | | | | | 0 | | | |
| | All employees, other than executive officers, as a group | | | | | | 251,318 | | | |
| |
Proposal:
|
| | |
Vote Required:
|
| | |
Broker Discretionary
Voting Allowed? |
| |
| |
Proposal 1 – Election of Three Directors
|
| | | Majority of the Shares Cast for Each Director Nominee | | | |
No
|
| |
| | Proposal 2 – Amendment to the 2016 Employee Stock Purchase Plan | | | | Majority of the Votes Cast | | | |
No
|
| |
| | Proposal 3 – Advisory Vote on Executive Compensation | | | | Majority of the Votes Cast | | | |
No
|
| |
| | Proposal 4 – Ratification of Auditors for Fiscal Year 2021 | | | | Majority of the Votes Cast | | | |
Yes
|
| |