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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
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Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
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Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
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Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
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Date Filed:
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| 1. | the election of Mark A. Frantz, Jonathan S. Holman and Arshad Matin, as directors for three-year terms to expire at our 2026 Annual Meeting of Stockholders; | ||||||||||
| 2. | an advisory vote to approve the Company's named executive officer compensation for the year ended December 31, 2022; | ||||||||||
| 3. | an advisory vote on the frequency of future advisory votes on executive compensation; | ||||||||||
| 4. | the ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the year ending December 31, 2023; and | ||||||||||
| 5. | such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof. | ||||||||||
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Sincerely,
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| /s/ Theodore S. Hanson | |||||
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Theodore S. Hanson
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Chief Executive Officer
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| 1. | the election of Mark A. Frantz, Jonathan S. Holman and Arshad Matin, as directors for three-year terms to expire at our 2026 Annual Meeting of Stockholders; | ||||||||||||||||
| 2. | an advisory vote to approve the Company's named executive officer compensation for the year ended December 31, 2022; | ||||||||||||||||
| 3. | an advisory vote on the frequency of future advisory votes on executive compensation; | ||||||||||||||||
| 4. | the ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the year ending December 31, 2023; and | ||||||||||||||||
| 5. | such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof. | ||||||||||||||||
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By Order of the Board,
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| /s/ Jennifer Hankes Painter | |||||
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Jennifer Hankes Painter
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Secretary
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April 27, 2023
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| Proposal One – Election of Directors | 2 | Narrative to Summary Compensation Table and Grants of Plan-Based Awards Table | 37 | |||||||||||
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Vote Required
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2 | Outstanding Equity Awards at Fiscal Year End | 38 | |||||||||||
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Board Recommendation
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2 | Option Exercises and Stock Vested | 39 | |||||||||||
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Board Experience Matrix
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9 | Non-Qualified Deferred Compensation | 39 | |||||||||||
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Independent Directors and Material Proceedings
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9 | Payments Upon Termination or Change in Control | 40 | |||||||||||
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Role of the Board
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9 | Equity Compensation Plan Information | 42 | |||||||||||
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Board Leadership Structure
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10 | CEO Pay Ratio | 44 | |||||||||||
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Board Committees and Meetings
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10 | Pay Versus Performance | 44 | |||||||||||
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Risk Oversight
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12 | |||||||||||||
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Meetings
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13 | Proposal Two – Advisory Vote on Executive Compensation | 47 | |||||||||||
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Attendance of Directors at 2022 Annual Meeting of Stockholders
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13 | |||||||||||||
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Director Compensation
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Vote Required
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47 | |||||||||||
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Environmental Social Governance at ASGN
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14 |
Board Recommendation
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47 | |||||||||||
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Director and Executive Officer Stock Ownership Guidelines
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15 | Proposal Three – Advisory Vote on the Frequency of the Advisory Vote on Executive Compensation | 48 | |||||||||||
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Director and Executive Officer Hedging and Pledging Transactions Policy
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15 | |||||||||||||
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Ethics
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16 |
Vote Required
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48 | |||||||||||
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Communicating with the Board
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16 |
Board Recommendation
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48 | |||||||||||
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Compensation Committee Interlocks and Insider Participation
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16 | Proposal Four – Ratification of Appointment of Independent Registered Public Accounting Firm | 49 | |||||||||||
| Security Ownership of Certain Beneficial Owners and Management | 17 |
Principal Accountant Fees and Services
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49 | |||||||||||
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Ownership of More than Five Percent of the Common Stock of ASGN
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17 |
Vote Required
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49 | |||||||||||
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Ownership of Directors and Management of ASGN
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18 |
Board Recommendation
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49 | |||||||||||
| Compensation Committee Chair Letter | 21 | Report of the Audit Committee | 50 | |||||||||||
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Executive Compensation Discussion and Analysis
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22 | General Information about the Annual Meeting and Voting | 51 | |||||||||||
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Executive Summary
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22 | Certain Relationships and Related Party Transactions | 54 | |||||||||||
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ASGN's Strategic Direction
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23 | Other Matters | 54 | |||||||||||
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Summary of Say-on-Pay and Responsiveness
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24 | Where You Can Find Additional Information | 54 | |||||||||||
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Compensation Philosophy
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25 | Incorporation by Reference | 54 | |||||||||||
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Compensation Committee Report
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34 | Proposals by Stockholders | 55 | |||||||||||
| Summary Compensation Table | 35 | Miscellaneous | 55 | |||||||||||
| Grants of Plan-Based Awards | 36 | Annex A – Reconciliation of Performance Target |
A-1
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| Date and Time | Place | Record Date | ||||||
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Thursday, June 15, 2023
at 9:00 a.m. ET |
Virtual Meeting:
meetnow.global/MGQ2257C |
Close of Business, ET,
April 19, 2023 |
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| PROPOSAL 1 | PROPOSAL 2 | PROPOSAL 3 | PROPOSAL 4 | ||||||||||||||||||||
| Election of three directors | Advisory vote to approve the Company's named executive officers compensation | Advisory vote to approve the frequency of future advisory votes on executive compensation (once each year) | Ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm | ||||||||||||||||||||
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ü
FOR
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ü
FOR
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ü
FOR
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ü
FOR
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| Each Nominee | Once Each Year | ||||||||||||||||||||||
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Page 1 | Page 53 | Page 54 | Page 55 | |||||||||||||||||||
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Mark A. Frantz
Director
Mr. Frantz has been a director on ASGN’s Board since June 2019, after serving as an advisor to the Board since June 2018. He is currently a general partner of Blue Delta Capital Partners, a growth capital firm focused on the U.S. federal government services marketplace, which he co-founded in 2009. Mr. Frantz contributes to the Board his track record helping grow leading U.S. government services companies, and he possesses a very deep understanding of market dynamics and drivers within the government contracting sector, as well as decades of experience with mergers and acquisitions across both government and commercial services markets.
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Key Qualifications
Government Contracting
Mr. Frantz's successful track record helping grow U.S. government companies, and deep understanding of market dynamics and drivers within the government contracting sector support ASGN's own business development in the government space.
Capital Markets Expertise
His extensive experience in venture capital and investment banking provides support to ASGN's M&A strategies.
Advisory Roles
Board of Directors, CSRA Inc. (2015 - 2018); former New York Stock Exchange ("NYSE") government services company sold to General Dynamics for $9.7B
Education
Bachelor of Arts in History and Political Science
Allegheny College
Juris Doctorate and Master of Business Administration
University of Pittsburgh
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Career Highlights
Co-Founder and General Partner
, Blue Delta Capital Partners
(2009 - Present)
Partner
, RedShift Ventures, a venture capital firm focused on rapidly commercializing new technologies
(2007 – 2009)
Managing General Partner
, In-Q-Tel, the strategic venture capital affiliate of the U.S. intelligence community
(2006)
Principal
Carlyle Venture Partners, a multinational private equity firm
(2001 – 2006)
Associate to Senior Chairman
, Alex Brown, investment bank
(1997 – 2000)
Economic and Technology Policy Advisor
to Pennsylvania Governor Tom Ridge
(1993 – 1997)
Associate Director
, White House Office of Intergovernmental Affairs
(1990 – 1993)
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Jonathan S. Holman
Director
Mr. Holman has been a director on ASGN’s Board since March 1994. He is the founder and since 1981 the president of The Holman Group, Inc., an executive search firm that has recruited over 150 chief executive officers to public and private companies ranging from start-ups to companies with over $1B in revenues. Mr. Holman provides the Board, including our Compensation Committee, with meaningful insight regarding hiring and salary practices of publicly-traded companies. In addition, Mr. Holman provides the Board with human resources experience.
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Key Qualifications
Salary Practice Expertise
Possesses extensive skills and experience in compensation matters; and has meaningful insight into hiring and salary practices of publicly-traded companies.
Hiring and Human Resources Experience
He was one of the top 200 executive recruiters in the world in The Global 200 Executive Recruiters and was one of the top 250 executive recruiters in the world in The New Career Makers.
Advisory Roles
Member of the National Association of Corporate Directors Compensation Committee Roundtable which addresses best practices in compensation-related matters
Board Member, Congregation Emanu-El, one of the largest synagogues in the United States
Education
Bachelor of Arts in Politics
Princeton University
Master of Business Administration
Stanford University
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Career Highlights
Founder and President
, The Holman Group, Inc., a high-level CEO recruitment firm
(1981 - Present)
Partner
, Bacci Bennett, executive recruitment firm
(1978 - 1981)
Director of HR
, E. & J. Gallo Winery
(1971 - 1978)
HR Manager
, Central Research Laboratories and other HR positions, Pfizer, multinational pharmaceutical and biotechnology corporation.
(1968 - 1971)
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Arshad Matin
Chair of the Board
Mr. Matin has been a director on ASGN’s Board since June 2014 and became Chair in June 2021. He is currently President and Chief Executive Officer of Avetta, LLC, a private company providing supply chain risk management solutions, a position he has held since October 2019. Mr. Matin brings to the Board extensive experience managing and advising public and private high-technology companies.
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Key Qualifications
Strategic Advisory Expertise
Leverages current and former service as a chief executive officer to provide strategic advice for public and private high-technology companies.
Executive Leadership
Mr. Matin was formerly responsible for business accounting for over $1.5B in revenues across over 4,500 employees.
Advisory Roles
Director and compensation committee member, VTEX, a public digital commerce platform headquartered in the United Kingdom
Trustee, Texas Children’s Hospital
Director, Houston Endowment
Director, East Asia Society
Education
Bachelor of Engineering in Electrical Engineering
Regional Engineering College, India
Master of Business Administration
The Wharton School of the University of Pennsylvania
Master of Science, Computer Engineering
The University of Texas at Austin
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Career Highlights
President and Chief Executive Officer
, Avetta, LLC, a private company providing supply chain risk management solutions
(2019 - Present)
Entrepreneur in Residence
, Warburg Pincus, a private equity firm
(2018 – 2019)
Chief Executive Officer
, Paradigm, Ltd., a software developer to the oil and gas industry
(2013 – 2018)
Executive Vice President
, IHS Inc., a publicly-traded information and analytics firm
(2012 – 2013)
President and Chief Executive Officer
, Seismic Micro-Technology, a global leader in geology and geophysics software
(2007 – 2011)
GM of Enterprise Security
, Symantec, a security software company
(2006 – 2007)
President and Chief Executive Officer
, Bindview, a provider of IT security compliance software
(2004 – 2005)
Partner
, McKinsey & Company in technology and software industries
(1995 – 2004)
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Brian J. Callaghan
Director
Mr. Callaghan has been a director on ASGN’s Board since May 2012. Mr. Callaghan co-founded Apex Systems, Inc. ("Apex Systems") in 1995 and was Co-CEO until 2012 when the company was sold to ASGN. Mr. Callaghan was recognized in 2003 as Ernst & Young’s Entrepreneur of the Year. Mr. Callaghan brings over 25 years of information technology ("IT") staffing experience to the Board and provides extensive knowledge about all aspects of the IT staffing business and business growth strategies.
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Key Qualifications
IT (Information Technology) Staffing Experience
His 25 plus years of staffing experience including extensive knowledge of IT staffing support ASGN’s recruitment efforts.
Business Development
As the Co-Founder of Apex Systems, he leverages his past experience to assist ASGN in business development and growth strategies. At Apex Systems, he worked directly with customers, led staff, strategy, forecasting and building systems to support growth.
Advisory Roles
Part-owner of Richmond Flying Squirrels, the Double-A affiliate of the San Francisco Giants
Part-owner of Omaha Storm Chasers, the Triple-A affiliate of the Kansas City Royals
Education
Bachelor of Science in Psychology
Virginia Polytechnic Institute and State University
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Career Highlights
Co-Founder and Co-CEO
, Apex Systems
(1995 - 2012)
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Theodore S. Hanson
Chief Executive Officer and Director
Mr. Hanson has served as Chief Executive Officer of ASGN since May 2019 and has been a member of ASGN’s Board since June 2019. He joined ASGN as Chief Financial Officer of Apex Systems, as a result of the Company’s acquisition of Apex Systems in May 2012, and also held the title of President from December 2016 through December 2021.
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Key Qualifications
Executive Leadership
President of Apex Life Sciences; Chief Financial Officer, Apex Systems; Chief Financial Officer, Property Technologies Ltd.
He is an accomplished business operator, strategic M&A acquirer and integrator, and leader of capital allocation, debt and equity strategy as our CEO.
Extensive Financial Reporting Experience
Corporate Controller Apex Systems
Accountant, Keiter, Stephens, Hurst, Gary and Shreaves
Advisory Roles
Advisory Council, Pamplin School of Business, Virginia Tech
Director, Apex Center for Entrepreneurs, Virginia Tech
Education
Bachelor of Science in Accounting and Business Management
Virginia Polytechnic Institute and State University
Master of Business Administration
Virginia Commonwealth University
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Career Highlights
Chief Executive Officer
, ASGN Incorporated
(2019 – Present)
President,
ASGN Incorporated
(2016 – 2021)
Chief Financial Officer
, Apex Systems, Inc.
(2001 – 2012)
Corporate Controller
, Apex Systems, Inc.
(1998 – 2001)
Chief Financial Officer
, Property Technologies Ltd., a voice and data solutions firm for the commercial and hospitality industries
(1996 – 1998)
CPA,
Keiter, Stephens, Hurst, Gary and Shreaves, an independent accounting firm
(1991 – 1996)
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Maria R. Hawthorne
Director
Ms. Hawthorne has been a director on ASGN’s Board since June 2021. Most recently, Ms. Hawthorne served as President and CEO of PS Business Parks, Inc. ("PS Business Parks"), a publicly-traded real estate investment trust that saw double-digit growth during her tenure. Further, from December 2021 to July 2022, she supported PS Business Parks by acting in an interim chief operating officer capacity until the company was sold to Blackstone. Ms. Hawthorne is an experienced public company Board member and accomplished CEO and contributes to the Company’s Board her extensive experience in financial and operational strategies, capital markets, acquisitions, enterprise risk management and leadership development.
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Key Qualifications
Leadership Development
She is an accomplished CEO who has served in multiple leadership roles throughout her career and is able to offer extensive expertise in career development and succession planning.
Mergers and Acquisitions
She leverages her prior experience in capital markets and acquisitions to support ASGN’s M&A strategy.
Financial Operational Strategy
Experienced public company board member that contributes extensive experience in financial and operational strategies and enterprise risk management.
Advisory Roles
Director and audit committee member, Essex Property Trust, a publicly-traded real estate investment trust
Member, National Association of Corporate Directors, Southern California Roundtable
Education
Bachelor of Arts in International Relations
Pomona College
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Career Highlights
Chief Executive Officer
, PS Business Parks
(2016 - 2020)
President,
PS Business Parks
(2015 - 2020)
Chief Financial Officer
, PS Business Parks
(2017 - 2018)
EVP, Chief Administrative Officer
, PS Business Parks (2013 - 2015)
Executive Vice President, East Coast
, PS Business Parks
(2011 - 2013)
Senior Vice President
, PS Business Parks
(2004 - 2011)
Vice President, Virginia
, PS Business Parks
(2001 - 2004)
Regional Manager, Virginia
, PS Business Parks
(1994 - 2001)
General Manager, Leasing Director and Property Manager
, American Office Park Properties
(1988 - 1994)
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Edwin A. Sheridan, IV
Director
Mr. Sheridan has been a director on ASGN’s Board since May 2012. Mr. Sheridan co-founded Apex Systems in 1995 and was Co-CEO until 2012 when the company was sold to ASGN. Mr. Sheridan was recognized in 2003 as Ernst & Young’s Entrepreneur of the Year. Mr. Sheridan brings over 25 years of IT staffing experience to the Board and provides extensive knowledge about all aspects of the IT staffing business and business growth strategies.
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Key Qualifications
IT Staffing Experience
His 25 plus years of staffing experience including extensive knowledge of IT staffing supports ASGN’s own recruitment efforts. As the Co-Founder of Apex Systems, he was a recruiter, account manager and regional operations manager.
Business Development
He leverages his own past experience to assist ASGN in business development and growth strategies.
Advisory Roles
Investor/Mentor: Databricks, Sentinel One, EVERFI, Inc., Core4ce, ThreatQuotient Inc., IronNet, Sweetgreen, B.Well and AON3D
Director, Apex Center for Entrepreneurs at Virginia Tech
Director, Peace Players International, an international community improvement and leadership organization
Director, Gonzaga College high school
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Key Qualifications (cont.)
Global Leadership Circle Member, ONE.org, a global movement campaigning to end extreme poverty and preventable disease
Honorary Director, Inova Schar Cancer Institute Molecular Tumor Board
Education
Bachelor of Arts in English and Political Science, Minor in Business Administration
Virginia Polytechnic Institute and State University
Career Highlights
Co-Founder and Co-CEO
, Apex Systems
(1995 - 2012)
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Vice Admiral Joseph W. Dyer, USN (Retired)
Director
Vice Admiral Dyer has been a director on ASGN’s Board since March 2021 and was an advisor to the Board beginning in 2018. He is currently a consultant in the aerospace, defense and technology markets focused on autonomous systems, artificial intelligence and wideband communications He most recently was the chief strategy officer of National Spectrum Consortium from 2014 to 2021, and was a Commissioner on the Congressional National Defense Authorization Act Section 809 Acquisition Streamlining Commission from 2016 to 2019. He brings to the Board an extensive military background and commercial expertise, which converge at the intersection of technology, finance and risk management.
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Key Qualifications
Military Background
His extensive work in the military and with the U.S. government at the intersection of technology, finance and risk management supports ASGN’s business development in the government space. He won the Department of Defense Acquisition Excellence Award and the Order of Daedalian as the program manager of the F/A-18 program.
Commercial Expertise
Senior corporate leader in the development of iRobot Corporation, the first publicly-traded mobile robots company.
Advisor of High-Tech Companies
Advised various high-tech companies from their initial public offering to their generation of long-term success, offering ASGN guidance on continued growth strategies.
Advisory Roles
Director, Nauticus Robotics, Inc., a Nasdaq-traded company that develops intelligent, sustainable ocean technology for energy, aquaculture and security applications (December 2022 to present); audit committee member and nominating and governance committee chair
Fellow, National Academy of Public Administration
Fellow, Society of Experimental Test Pilots - Received the James H. Doolittle Award for Outstanding Engineering Achievement in Aerospace
Director, Technology Service Corporation (TSC), a high technology company that provides engineering consulting services and specialized products to the U.S. Government and industry (2019 to present)
Advisory Board Member, The Center for the Study of Democracy
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Key Qualifications (cont.)
Director, Avian Inc., a private company linking talented people to important work about which they are passionate
(2019 to present)
Education
Bachelor of Science in Chemical Engineering
North Carolina State University
Master of Science in Financial Management
Naval Postgraduate
Career Highlights
President of Government and Industrial Division,
Chief Operating Officer and Chief Strategy Officer
, iRobot Corporation
(2003 – 2013)
Chair
, NASA Aerospace Safety and Advisory Panel
(2003 – 2016)
Commander
, Naval Air Systems Command
(2000 – 2003)
Commander
, Naval Air Warfare Center Aircraft Division Patuxent River and Naval Aviation's Chief Engineer
(1997 – 2000)
F/A-18 Program Manager
, Engineering and manufacturing development efforts
(1994 – 1997)
U.S. Navy Chief Test Pilot
(1991 – 1994)
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Mariel A. Joliet
Director
Ms. Joliet has been a director on ASGN’s Board since December 2016. Most recently she was the Senior Vice President and Treasurer of Hilton Hotels Corporation, in which she was instrumental in the company’s sale to Blackstone Group for $27 billion. Ms. Joliet was an executive at Hilton from 1998 to 2008. Ms. Joliet has a strong background in financing, acquisitions, deal structuring, strategic planning, and operational integration.
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Key Qualifications
Mergers and Acquisitions Expertise
Her extensive background in financing, acquisitions, deal structuring, strategic planning and operational integration supports ASGN’s M&A efforts.
Capital Markets and Investment Initiatives
Possesses deep knowledge in capacity as a treasurer of credit ratings, debt/equity issuances, interest rate risk, cash management and foreign exchange.
Advisory Roles
Chair of the Board of Directors and audit and nominating and corporate governance committee member of Kayne Anderson BDC Inc., a management investment company
Member of Las Madrinas, a philanthropic organization supporting pediatric care and research at Children’s Hospital Los Angeles
Board Member of Know the Glow, a vision non-profit
Member of National Association of Corporate Directors Compensation Committee Roundtable
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Key Qualifications (cont.)
Education
Bachelor of Science
University of Scranton
Master of Business Administration
Marywood University
Career Highlights
Senior Vice President and Treasurer
, Hilton Hotels Corporation, a publicly-traded hotel company (1998 – 2008)
Coverage Officer and Corporate Banker
, Wachovia (1996 – 1998)
Coverage Officer and Corporate Banker
, Corestates Bank (1989 – 1996)
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Marty R. Kittrell
Director
Mr. Kittrell has been a director on ASGN’s Board since September 2012. Most recently he was the executive vice president and chief financial officer of Dresser, Inc., a multi-national provider of technology products and services for developing energy and natural resources, a position he held from December 2007 until the company’s sale to General Electric in February 2011. Mr. Kittrell has extensive experience with the analysis and preparation of financial statements, risk management, corporate strategy, mergers and acquisitions, organization development, board practices and corporate finance, including public offerings of equity and debt.
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Key Qualifications
Corporate Finance Experience
Possesses an extensive background in analysis and preparation of financial statements, mergers and acquisitions and equity and debt offerings; former CPA.
Corporate Risk Management
Served in multiple company chief financial officer positions in which he led the financial risk management processes for companies in the technology, commercial, consumer and industrial sectors.
Advisory Roles
Member, Board of Trustees and chair of the finance committee and treasurer, Lipscomb University
Director, Tokens Media LLC, an entertainment company producing radio programs, live shows and podcasts
Director, CaredFor, Inc., a software company service addiction and mental health programs
Director, Columbia Pipeline Group, Inc. and its predecessor NiSource (2007 – 2016)
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Key Qualifications (cont.)
Education
Bachelor of Science in Accounting
Lipscomb University
Career Highlights
Chief Financial Officer
, Dresser, Inc., a multi-national provider of technology products and services for developing energy and natural resources
(2007- 2011)
Chief Financial Officer and Executive Vice President
, Andrew Corporation, a manufacturer of hardware communications networks
(2003– 2007)
Audit Manager and Staff Accountant
, Price Waterhouse
(1977 - 1983)
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Carol J. Lindstrom
Director
Ms. Lindstrom has been a director on ASGN’s Board since March 2021. She was previously the Vice Chair at Deloitte LLP until 2016, and is currently an advisor at Carrick Capital Partners, a growth-oriented investment firm focused on software enabled businesses, a role she has held since 2016. She also serves as a director on two other public company boards, Genpact Ltd. and Exponent Inc. She supports our Board with her expertise growing and managing consulting services and large scale technology projects, and she is aligned with many of the technology companies in Northern California.
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Key Qualifications
Growing and Managing Consulting Services
Ms. Lindstrom was the Vice Chair at a global accounting firm helping build its technology consulting practice, a skillset which supports ASGN's own commercial consulting buildout.
Large-Scale Technology Project Deployment
She is aligned with many technology companies in Northern California, helping ASGN with potential IT business development.
Advisory Roles
Director, Genpact Ltd., a public global professional services firm delivering digital transformation
Director, Exponent Inc., a public engineering and consulting firm
Director, Workday Foundation
Director, Homeful Foundation
Director, St. Helena Hospital Foundation
President, Deloitte Foundation (2010 – 2014)
Director, Deloitte & Touche Tohmatsu Global Board (2007 – 2013)
Director, Deloitte LLP (2006 - 2012)
Education
Bachelor of Arts in Linguistics
University of California, Los Angeles
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Career Highlights
Vice Chair
, Deloitte LLP
(2010 - 2016)
Managing Director, Deloitte LLP
, Orange County and San Francisco offices, Americas Technology and E-business and Digital Practices
Partner
, Andersen Consulting (now Accenture PLC)
(1987 – 1993)
Advisor
, Carrick Capital Partners
(2016
–
Present)
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Matin
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Callaghan
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Dyer
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Frantz
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Hanson
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Hawthorne
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Holman
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Joliet
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Kittrell
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Lindstrom
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Sheridan
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Skills and Experience
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Other Public Board Experience
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Government Contract Experience
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Consulting Industry Experience
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Client Experience, Investor Relations or Services
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International
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Finances, Capital Allocation or Accounting and Audit
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Risk Management
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Corporate Governance
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Name
(1)
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Fees Earned in Cash
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Stock Awards
(2)
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Total | |||||||||||
| Arshad Matin, Chair | $176,364 | $149,989 | $326,353 | |||||||||||
| Brian J. Callaghan | 97,909 | 149,989 | 247,898 | |||||||||||
| Joseph W. Dyer | 98,182 | 149,989 | 248,171 | |||||||||||
| Mark A. Frantz | 90,455 | 149,989 | 240,444 | |||||||||||
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Maria R. Hawthorne
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91,546 | 149,989 | 241,535 | |||||||||||
| Jonathan S. Holman | 108,182 | 149,989 | 258,171 | |||||||||||
| Mariel A. Joliet | 97,364 | 149,989 | 247,353 | |||||||||||
| Marty R. Kittrell | 108,727 | 149,989 | 258,716 | |||||||||||
| Carol J. Lindstrom | 85,455 | 149,989 | 235,444 | |||||||||||
| Edwin A. Sheridan, IV | 98,182 | 149,989 | 248,171 | |||||||||||
| (1) | Directors who are also employees of ASGN receive no additional compensation for their service as a director. Accordingly, Mr. Hanson, our Chief Executive Officer, did not receive any compensation for his service as a director. Compensation paid to Mr. Hanson in connection with his employment is disclosed in the "Summary Compensation Table" set forth on p. 35. | ||||
| (2) | Amounts shown in the table above reflect the aggregate grant date fair value of the awards, computed in accordance with FASB ASC Topic 718. Assumptions used in the calculation of these amounts are included in Note 12 to the consolidated financial statements for the year ended December 31, 2022 included in our Annual Report on Form 10‑K filed on February 27, 2023. The amounts for all of the non-executive directors were calculated based on the grant date fair value per share of $124.06, which was the closing sale price of our common stock on the date of grant, January 3, 2022. As of December 31, 2022, each of the non-executive directors listed above held 604 unvested shares. No options were outstanding for any director at December 31, 2022. | ||||
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Outside Director
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Additional Annual Cash Retainer
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| Jan. 1 - June 16, 2022 | June 17 - Dec. 31, 2022 | |||||||
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Chair of the Board
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$80,000
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$100,000
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Audit Committee Chair
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15,000 | 18,000 | ||||||
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Compensation Committee Chair
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15,000 | 17,500 | ||||||
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Nominating and Corporate Governance Committee Chair
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10,000 | 15,000 | ||||||
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Strategy and Technology Committee Chair
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10,000 | 15,000 | ||||||
| FOCUS AREA | ACTIONS TOWARD COMMITMENTS | NEW COMMITMENTS | ||||||
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Data and Security
ECS, ASGN's government segment, leads our Company-wide efforts to ensure that all our brands follow the Cybersecurity Maturity Model Certification version 2 ("CMMC 2.0") framework and operate at the highest levels of cybersecurity. Our clients include the Department of Defense, the National Security Agency and several Federal civilian agencies. Our Board of Directors' Strategy and Technology Committee meets regularly on cybersecurity, innovation and security roadmap planning efforts.
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*
Assisted our large commercial clients in aligning with industry standards and best practices (e.g., CMMC 2.0, NIST 800-171).
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Conducted annual independent external audits of our information security program and systems.
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Made cybersecurity an ongoing Company-wide priority.
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Standardized platforms, tools and processes across all our divisions.
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Align our technology operations with our overall corporate strategy.
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Deepen our technology modernization targets.
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Continue to work with third-party assessor organizations.
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Responsible Business
We provide and uphold a culture of ethics and integrity. We maintain robust governance and oversignt, and the highest standards of honest, integrity and trustworthiness. We are a dependable and trustworthy partner. Our responsible business ethos enhances and preserves long-term value for our stockholders.
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*
Engaged our Board on climate-related enterprise risk management.
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Identified climate-related risks and impacts on our business strategy.
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Established a Company-wide supplier diversity policy.
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Integrated ethics and integrity questions into our Company-wide annual engagement survey.
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Establish a comprehensive Enterprise Risk Management ("ERM") program.
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Comply with the SEC's forthcoming ESG disclosure rules.
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| FOCUS AREA | ACTIONS TOWARD COMMITMENTS | NEW COMMITMENTS | ||||||
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Our Workforce
We are dedicated to the professional development and career advancement of our team and to supporting their well-being. We provide our employees with the following types of training: compliance, data security, ethics, diversity, equity and inclusion (DEI), leadership, new manager, and role-specific training. Through our participation in the UN Global Compact's Sustainable Development Goals (SDGs) Accelerator Program in 2022, ASGN aligned with SDG 5 (Gender Equality) and SDG 10 (Reduced Inequalities). As of December 31, 2022, employees from underrepresented racial and ethnic groups accounted for over 30 percent of our U.S. internal workforce, and 43.7 percent of executive/senior-level officers and managers were women and non-white men.
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Exceeded 40 percent diversity (women and diverse people including racial and ethnic diversity, sexual orientation, physical abilities and veteran status) in executive/senior-level officers and managers, ahead of our 2025 target.
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Became a signatory to the UN Women's Empowerment Principles ("WEPs").
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Adopted a Company-wide Supplier Diversity Policy.
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Established Company-wide policies on workplace health and safety and employee wellness.
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Expanded Company-wide employee wellness programs including monthly reimbursements for fitness memberships.
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Pilot a pay equity audit at our largest commercial brand, Apex Systems.
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Establish a Company-wide employee mentorship program.
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Establish a Company-wide diversity council.
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Implement the UN WEP program across all brands to elevate our Company-wide commitment to gender equality.
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Social Responsibility
We support a culture of caring and making a positive difference. We do this through employee engagement, charitable contributions, and volunteering to uplift the organizations and communities our employees care most about.
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In process of establishing a Company-wide giving program to unite best practices across all brands and standardize reporting.
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In 2022, ASGN and its employees collectively raised over $540,000 for 432 different non-profit organizations.
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Establish a Company-wide giving program to increase employee engagement, charitable contributions, and brand loyalty.
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Environmental Responsibility
We are committed to achieving our goal of reducing our carbon emissions by 55 percent on a per employee basis by 2030 compared to our 2019 baseline. To
achieve this goal, we are developing and implementing carbon reduction measures with respect to our office buildings, employee commuting, business travel, procurement practices and employee engagement.
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Established a carbon emissions reduction plan.
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Became a signatory of the
Science Based Target Initiative ("SBTi").
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Obtained third party verification of our GHG inventory.
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Made progress toward becoming eligible for ISO 14001 certification.
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Expanded our ESG disclosures, which now include the CDP, the GRI, the Sustainability Accounting Standards Board ("SASB"), S&P CSA, the TCFD, and the UNGC's COP.
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Implement our carbon emissions reduction plan by exploring our renewable energy options and establishing a sustainable procurement policy and supply chain program, sustainable business travel guidelines, Company-wide communications to build awareness and engagement, and a sustainable employee commuting pilot program
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Submit our science-based targets to the SBTi for approval.
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Begin the ISO 14001 certification process for ASGN's headquarters in Glen Allen, Virginia.
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Name and Address of
Beneficial Owner
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Amount and Nature of Beneficial Ownership
(# of shares)
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Percent of
Common Stock
(4)
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FMR LLC
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5,996,690
(1)
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11.7% | ||||||
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245 Summer Street
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Boston, MA 02210
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BlackRock, Inc.
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5,893,259
(2)
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11.5% | ||||||
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55 East 52nd Street
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New York, NY 10055
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The Vanguard Group, Inc.
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4,927,926
(3)
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9.6% | ||||||
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100 Vanguard Blvd.
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Malvern, PA 19355
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| (1) | Based on information contained in a Schedule 13G/A filed with the SEC on February 9, 2023 by FMR LLC (“FMR”) on its own behalf and on behalf of several affiliated entities, FMR has sole dispositive power of all of the listed Company's shares. FMR lists the following subsidiaries, affiliates, other companies and persons on whose behalf the filing was made who may also beneficially own, or be deemed to beneficially own, shares of our common stock: FIAM LLC, Fidelity Institutional Asset Management Trust Company, Fidelity Management & Research Company LLC, Fidelity Management Trust Company, Strategic Advisers LLC, Abigail P. Johnson and members of the Johnson family. | ||||
| (2) | Based on information contained in a Schedule 13G/A filed with the SEC on January 26, 2023 by BlackRock, Inc. on behalf of various subsidiaries, BlackRock, Inc. directly or indirectly has sole voting power of 5,788,595 shares of our common stock, and sole dispositive power of 5,893,259 shares. The subsidiaries listed in the filing as beneficially owning the shares set forth above include: BlackRock Life Limited, BlackRock Advisors, LLC, Aperio Group, LLC, BlackRock (Netherlands) B.V., BlackRock Fund Advisors, BlackRock Institutional Trust Company, National Association, BlackRock Asset Management Ireland Limited, BlackRock Financial Management, Inc., BlackRock Japan Co., Ltd., BlackRock Asset Management Schweiz AG, BlackRock Investment Management, LLC, BlackRock Investment Management (UK) Limited, BlackRock Asset Management Canada Limited, BlackRock (Luxembourg) S.A., BlackRock Investment Management (Australia) Limited, BlackRock (Singapore) Limited and BlackRock Fund Managers Ltd. | ||||
| (3) | Based on information contained in a Schedule 13G/A filed with the SEC on February 9, 2023 by The Vanguard Group, Inc. (“Vanguard”) on its own behalf and on behalf of certain clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, Vanguard has shared voting power of 84,330 shares of the Company’s common stock, sole dispositive power over 4,791,948 shares, and shared dispositive power over 135,978 shares. | ||||
| (4) | For each beneficial owner included in the table above, percentage ownership is calculated by dividing the number of shares beneficially owned by such holder by the 49,197,958 shares of the Company’s common stock outstanding as of March 31, 2023. To the knowledge of the Company, none of the holders listed above had the right to acquire any additional shares of the Company on or within 60 days after March 31, 2023. | ||||
| Name of Beneficial Owner |
Amount and Nature of Beneficial Ownership
(# of shares)
(3)
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Percent of Common Stock
(4)
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Brian J. Callaghan
(1)
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321,741 | * | ||||||||||||||||||||||||
| Joseph W. Dyer | 7,374 | * | ||||||||||||||||||||||||
| Mark A. Frantz | 8,415 | * | ||||||||||||||||||||||||
| Maria R. Hawthorne | 2,712 | * | ||||||||||||||||||||||||
| Jonathan S. Holman | 10,672 | * | ||||||||||||||||||||||||
| Mariel A. Joliet | 10,043 | * | ||||||||||||||||||||||||
| Marty R. Kittrell | 4,265 | * | ||||||||||||||||||||||||
| Carol J. Lindstrom | 3,585 | * | ||||||||||||||||||||||||
| Arshad Matin | 11,094 | * | ||||||||||||||||||||||||
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Edwin A. Sheridan, IV
(2)
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734,339 | 1.4% | ||||||||||||||||||||||||
| Theodore S. Hanson | 354,817 | * | ||||||||||||||||||||||||
| Randolph C. Blazer | 125,372 | * | ||||||||||||||||||||||||
| Marie L. Perry | 2,546 | * | ||||||||||||||||||||||||
| Jennifer H. Painter | 44,523 | * | ||||||||||||||||||||||||
| Rose L. Cunningham | 3,133 | * | ||||||||||||||||||||||||
| Edward L. Pierce | 108,355 | * | ||||||||||||||||||||||||
| All directors and executive officers as a group (16 persons) | 1,752,986 | 3.4% | ||||||||||||||||||||||||
| * | Represents less than one percent of the shares outstanding. | ||||
| (1) | All of the ASGN shares beneficially owned by Mr. Callaghan are held in a trust in which he and his wife are both trustees, with the exception that 5,245 shares are held in his name directly. | ||||
| (2) | Mr. Sheridan holds 40,644 of the ASGN shares he beneficially owns in a revocable trust, 690,414 shares are held in a limited liability company for which he is the sole beneficiary and has the sole right to vote and invest the shares, and the remainder are held in his name directly. | ||||
| (3) | All amounts shown include shares available upon vesting of RSUs that will vest within 60 days of March 31, 2023, including the number of shares that were expected to be issued to the named executive officers upon certification of performance-based RSUs vesting on April 8, 2023. | ||||
| (4) | For each individual included in the table above, percentage ownership is calculated by dividing the number of shares beneficially owned by the sum of the 49,197,958 shares of the Company’s common stock outstanding as of March 31, 2023, plus the number of shares of common stock that are issuable upon the vesting of RSUs within 60 days of March 31, 2023 held by such individual (but not giving effect to the shares of common stock that are issuable upon the vesting of RSUs held by others). | ||||
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Name
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Age |
Title
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Years Experience in Industry | Years with ASGN | ||||||||||
| Theodore S. Hanson* | 55 | Chief Executive Officer | over 20 years in industry | 24 years with ASGN and Apex Systems | ||||||||||
| Randolph C. Blazer* | 72 | President | over 40 years in industry | 16 years with ASGN and Apex Systems | ||||||||||
| Marie L. Perry* | 57 | EVP, Chief Financial Officer | 7 years CFO experience | 1 year | ||||||||||
| Jennifer H. Painter* | 53 | SVP, Chief Legal Officer and Secretary | 17 years GC experience | 10 years | ||||||||||
| James L. Brill | 72 | SVP, Chief Administrative Officer and Treasurer | over 35 years as finance executive | 16 years | ||||||||||
| Rose L. Cunningham* | 48 | VP, Chief Accounting Officer and Controller | over 10 years as a controller | 10 years | ||||||||||
| Edward L. Pierce* | 66 | Former EVP, Chief Financial Officer, and Executive Advisor | over 20 years CFO experience | 11 years | ||||||||||
| Execute |
* Expand IT service offerings to customers
* Deploy digital technologies to enhance connectivity, productivity and efficiency in a new hybrid work environment
* Emphasize environmental, social and governance efforts that drive long-term financial returns
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| Scale |
* Grow base of large accounts that are stable revenue sources and quickly adopt new technologies
* Deepen penetration among existing customer base through value-added service offerings
* Utilize free cash flow in best interests of all stakeholders
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| Acquire |
* Target acquisitions that bring new solution capabilities with industry expertise and new customers
* Focus on companies with financial and cultural profiles similar to ASGN
* Ensure acquisitions are accretive to earnings while also supporting ASGN's strategy
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Stockholder engagement is a key value and a significant part of our ongoing review of corporate governance and executive compensation practices. We are committed to actively seeking feedback from our stockholders to foster a constructive dialog on our programs as well as the decision-making process behind them. |
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| In the past year, our Compensation Chair has reached out to stockholders representing over half of our outstanding stock. 98.8 percent of the votes for the 2022 Say-on-Pay proposal were cast FOR the proposal. The Compensation Committee considered this strong support, alongside feedback from our stockholder engagement discussions, when determining to largely maintain our 2022 compensation program design. | |||||||||||
| Stockholder Engagement Process | Feedback Heard | Compensation Committee Actions | ||||||
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◦
In the past two years we spoke with several of our larger stockholders to discuss our business, compensation and ESG programs and governance.
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We shared feedback from our stockholders with the Compensation and the Nominating and Corporate Governance Committee.
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Stockholders were generally supportive of our broader business strategy and performance.
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Stockholders generally expressed a high level of support for our compensation programs while providing commentary on performance metrics, including their structure.
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Stockholders generally expressed a high level of support for our compensation programs while providing commentary on performance metrics, including their structure.
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◦
On the strength of the support of our compensation programs and their continuing effectiveness, the Committee elected not to make substantive changes for 2022.
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The Compensation Committee continues to consider the outcomes of future Say-on-Pay votes alongside stockholder feedback when assessing our compensation programs.
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Element
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Purpose
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Base Salary
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Attract and retain
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Stable value delivery
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• Fixed compensation, payable in cash
• Provides executives with security and continuity in compensation
• Key component of attracting and retaining qualified executives
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Cash Incentives
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Pay for short-term performance
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Align with strategy
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• Variable, cash-based compensation rewards executives for performance against key financial, operating and strategic goals
• Performance-based, with payouts only received for strong performance
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Equity
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Pay for sustained, long-term performance
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Align executives and stockholders
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Long-term retention
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• Emphasizes long-term operational performance and stockholder value growth
• Ties opportunities for wealth creation and stock ownership directly to the long-term success of ASGN
• Promotes retention of executives
• Aligns executives with the interests of our stockholders
• Encourages maximization of stockholder value
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WHAT WE DO
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WHAT WE DON'T DO
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Emphasis on pay-for-performance
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Challenging performance goals for incentive programs, requiring above-market performance to be earned at target levels, and significantly higher performance for stretch goals above target
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Compensation program designed to mitigate undue risk-taking
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Double-trigger required for change in control severance provisions
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Rigorous stock ownership guidelines for executives and directors
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Clawback policy in place for executive performance compensation
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The Compensation Committee engages an independent compensation consultant
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No gross-ups related to executive compensation, excise taxes or otherwise
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Directors and executives are prohibited from hedging and pledging the Company’s stock
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No excessive perquisites
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No repricing of stock option awards
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| Name | Salary | Target Short-Term Cash Incentive Bonus | Time-Based RSUs |
Performance-Based RSUs
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Total
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| Theodore S. Hanson | $1,025,000 | $1,383,750 | $1,800,000 | $2,700,000 | $6,908,750 | ||||||||||||
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Randolph C. Blazer
(1)
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950,000 | 1,045,000 | 1,000,000 | 1,000,000 | 3,995,000 | ||||||||||||
| Marie L. Perry | 575,000 | 517,500 | 575,000 | 575,000 | 2,242,500 | ||||||||||||
| Jennifer H. Painter | 500,000 | 400,000 | 500,000 | 500,000 | 1,900,000 | ||||||||||||
| Rose L. Cunningham | 310,425 | 232,819 | 125,000 | 125,000 | 793,244 | ||||||||||||
| Edward L. Pierce | 675,000 | 607,500 | 600,000 | 600,000 | 2,482,500 | ||||||||||||
| (1) | To support long-term retention and performance, Mr. Blazer received a front-loaded equity award in 2022 intended to cover annual equity grants for 2022, 2023 and 2024. The Compensation Committee does not intend to provide Mr. Blazer additional equity awards during this period. Mr. Blazer's time- and performance-based RSU values for 2022 reflect the amortized value of his front-loaded equity awards. For additional detail, see "Special Compensation Actions in 2022". | ||||
| Name | 2021 Annual Salary | 2022 Annual Salary |
Increase
|
||||||||
| Theodore S. Hanson | $975,000 | $1,025,000 | 5% | ||||||||
| Randolph C. Blazer | 900,000 | 950,000 | 6% | ||||||||
| Marie L. Perry | 575,000 | N/A | |||||||||
| Jennifer H. Painter | 475,000 | 500,000 | 5% | ||||||||
| Rose L. Cunningham | 298,486 | 310,425 | 4% | ||||||||
| Edward L. Pierce | 650,000 | 675,000 | 4% | ||||||||
| Threshold (25% Payout) | 75% Payout |
Target
(100% Payout) |
150% Payout |
Max
(200% Payout) |
Results | Payout Achieved | |||||||||||||||||
| Consolidated ASGN Targets (80% Adjusted EBITDA, 20% Revenue) growth over prior year: | |||||||||||||||||||||||
| Adj. EBITDA | 3.10% | 6.10% | 7.65% | 9.17% | 10.65% | 14.14% | 200% | ||||||||||||||||
| Revenue | 3.10% | 6.10% | 9.15% | 10.65% | 12.15% | 12.56% | 200% | ||||||||||||||||
| Name | MBO | Assessment of Performance | Achievement (% of Target) | ||||||||
| Theodore S. Hanson |
•
Progress on key Company ESG goals (25%)
•
Corporate strategy (25%)
•
Revenue synergy targets (25%)
•
Succession management (25%)
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•
Super Stretch (200%)
•
Stretch (150%)
•
Target (100%)
•
Super Stretch (200%)
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163% | ||||||||
| Randolph C. Blazer |
•
Revenue synergy targets (50%)
•
Strategy and M&A (50%)
|
•
Target (100%)
•
Stretch (150%)
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125% | ||||||||
| Marie L. Perry |
•
CFO transition (50%)
•
IR and marketing plan (50%)
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•
Super Stretch (200%)
•
Stretch (150%)
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175% | ||||||||
| Jennifer H. Painter |
•
Legal budget management (50%)
•
CFO transition (50%)
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•
Stretch (150%)
•
Super Stretch (200%)
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175% | ||||||||
| Rose L. Cunningham |
•
CFO transition (20%)
•
Support CFO with team assessment (20%)
•
Finance/accounting management plan (20%)
•
Acquisition support (20%)
•
Accounting process efficiencies (20%)
|
•
Super Stretch (200%)
•
Stretch (150%)
•
Stretch (150%)
•
Super Stretch (200%)
•
Target (100%)
|
160% | ||||||||
| Edward L. Pierce |
•
CFO transition (100%)
|
•
Super Stretch (200%)
|
200% | ||||||||
| Component Weighting | Payouts | |||||||||||||||||||
| Name | Financial Targets | MBOs | Financial Targets | MBOs | Total | |||||||||||||||
| Theodore S. Hanson | 80% | 20% | $2,214,000 | $449,719 | $2,663,719 | |||||||||||||||
| Randolph C. Blazer | 80% | 20% | 1,672,000 | 261,250 | 1,933,250 | |||||||||||||||
| Marie L. Perry | 80% | 20% | 759,000 | 166,031 | 925,031 | |||||||||||||||
| Jennifer H. Painter | 80% | 20% | 640,000 | 140,000 | 780,000 | |||||||||||||||
| Rose L. Cunningham | 80% | 20% | 372,510 | 74,502 | 447,012 | |||||||||||||||
| Edward L. Pierce | 80% | 20% | 972,000 | 243,000 | 1,215,000 | |||||||||||||||
| Name |
Time-Based RSU Awards
(# of RSUs)
|
Performance-Based RSU Awards
(# of RSUs at 100% achievement)
|
Aggregate Target Award Value | ||||||||
| Theodore S. Hanson | 14,509 | 24,120 | $4,500,000 | ||||||||
| Randolph C. Blazer | 24,181 | 26,800 | 6,000,000 | ||||||||
| Marie L. Perry | 5,249 | 5,136 | 1,150,000 | ||||||||
| Jennifer H. Painter | 4,030 | 4,466 | 1,000,000 | ||||||||
| Rose L. Cunningham | 1,007 | 1,116 | 250,000 | ||||||||
| Edward L. Pierce | 4,836 | 5,360 | 1,200,000 | ||||||||
| (1) | To support long-term retention and performance, Mr. Blazer received a front-loaded equity award in 2022 intended to cover annual equity grants for 2022, 2023 and 2024 at an equivalent $2 million per year rate that he received in 2021. The Compensation Committee does not intend to provide Mr. Blazer further annual equity awards during this period. | ||||
| Three-Year Average NOPAT Growth Goals | Relative TSR Modifier | |||||||||||||||||||||||||
| NOPAT Growth vs. Prior Year Actual | Achievement | Relative TSR | Modifier Impact | |||||||||||||||||||||||
| ≥ 10.0% | 200% |
≥75
th
P
|
+25% | |||||||||||||||||||||||
| 8.5% | 150% | 40th - 60th P | — | |||||||||||||||||||||||
| 7.0% | 100% |
≤25th P
|
-25% | |||||||||||||||||||||||
| 4.0% | 75% | |||||||||||||||||||||||||
| 2.0% | 50% | |||||||||||||||||||||||||
| <2.0% | —% | |||||||||||||||||||||||||
| Outcomes relative to this schedule are measured annually over the three years and averaged to determine final NOPAT payout. | The final NOPAT growth outcome is then modified by an increase or decrease of up to 25 percent of the number of RSUs issued based on ASGN's TSR performance relative to a 45-company comparator group (outlined below). | |||||||||||||||||||||||||
|
◦
Amdocs Limited
|
◦
KBR, Inc.
|
||||
|
◦
Atlas Technical Consultants, Inc.
|
◦
Kelly Services, Inc.
|
||||
|
◦
Barrett Business Services, Inc.
|
◦
Kforce Inc.
|
||||
|
◦
Booz Allen Hamilton Holding Corporation
|
◦
Korn Ferry
|
||||
|
◦
CACI International Inc.
|
◦
Kyndryl Holdings, Inc.
|
||||
|
◦
CBIZ, Inc.
|
◦
LegalZoom.com, Inc.
|
||||
|
◦
Cognizant Technology Solutions Corporation
|
◦
Leidos Holdings, Inc.
|
||||
|
◦
CoStar Group, Inc.
|
◦
ManpowerGroup Inc.
|
||||
|
◦
CRA International, Inc.
|
◦
ManTech International Corporation
|
||||
|
◦
Dun & Bradstreet Holdings, Inc.
|
◦
Mistras Group, Inc.
|
||||
|
◦
DXC Technology Company
|
◦
Nielsen Holdings plc
|
||||
|
◦
EPAM Systems, Inc.
|
◦
Perficient, Inc.
|
||||
|
◦
Equifax Inc.
|
◦
Resources Connection, Inc.
|
||||
|
◦
First Advantage Corporation
|
◦
Robert Half International Inc.
|
||||
|
◦
FTI Consulting, Inc.
|
◦
Science Applications International Corporation
|
||||
|
◦
Gartner, Inc.
|
◦
Sterling Check Corp.
|
||||
|
◦
Heidrick & Struggles International, Inc.
|
◦
Thoughtworks Holding, Inc.
|
||||
|
◦
HireRight Holdings Corporation
|
◦
TransUnion
|
||||
|
◦
Huron Consulting Group Inc.
|
◦
TriNet Group, Inc.
|
||||
|
◦
ICF International, Inc.
|
◦
TrueBlue, Inc.
|
||||
|
◦
Insperity, Inc.
|
◦
Unisys Corporation
|
||||
|
◦
International Business Machines Corporation
|
◦
Verisk Analytics, Inc.
|
||||
|
◦
Jacobs Engineering Group Inc.
|
|||||
|
Financials (in millions)
(1)
|
||||||||||||||||||||
| Name | Revenues | Market Capitalization | ||||||||||||||||||
| Amedisys, Inc. | $2,214 | $5,263 | ||||||||||||||||||
| Booz Allen Hamilton Holding Corporation | 7,859 | 10,972 | ||||||||||||||||||
| CACI International Inc. | 6,044 | 6,009 | ||||||||||||||||||
| EPAM Systems, Inc. | 3,758 | 38,001 | ||||||||||||||||||
| FTI Consulting, Inc. | 2,776 | 5,267 | ||||||||||||||||||
| ICF International, Inc. | 1,553 | 1,936 | ||||||||||||||||||
| Insperity, Inc. | 4,973 | 4,527 | ||||||||||||||||||
| Kelly Services, Inc. | 4,910 | 662 | ||||||||||||||||||
| Kforce Inc. | 1,580 | 1,618 | ||||||||||||||||||
| Korn Ferry | 1,820 | 3,667 | ||||||||||||||||||
| ManTech International Corporation | 2,554 | 2,975 | ||||||||||||||||||
| Pediatrix Medical Group, Inc. | 1,911 | 2,308 | ||||||||||||||||||
| Premier, Inc. | 1,721 | 4,263 | ||||||||||||||||||
| Robert Half International Inc. | 6,461 | 12,344 | ||||||||||||||||||
| Science Applications International Corporation | 7,056 | 5,570 | ||||||||||||||||||
| Unisys Corporation | 2,054 | 1,382 | ||||||||||||||||||
| Willis Towers Watson plc | 8,998 | 28,987 | ||||||||||||||||||
|
75th Percentile
|
6,253 | 8,491 | ||||||||||||||||||
|
50th Percentile
|
2,776 | 4,527 | ||||||||||||||||||
|
25th Percentile
|
1,866 | 2,122 | ||||||||||||||||||
| ASGN Incorporated | $4,010 | $6,392 | ||||||||||||||||||
| (1) |
Revenues reflect last 12 months as of December 31, 2021, and the market capitalization values are as of December 31, 2021 (end of fiscal year prior to 2022 pay decisions).
|
||||
| Name and Principal Position | Year | Salary | Bonus |
Stock
Awards
(2)
|
Non-Equity Incentive Plan
(4)
|
All Other
Compensation
(5)
|
Total | ||||||||||||||||
| Theodore S. Hanson | 2022 | $1,025,000 | $4,710,065 | $2,663,719 | $21,581 | $8,420,365 | |||||||||||||||||
| Chief Executive Officer | 2021 | 975,000 | 6,244,850 | 2,315,625 | 10,803 | 9,546,278 | |||||||||||||||||
| 2020 | 930,000 | 4,298,408 | 1,367,100 | 10,803 | 6,606,311 | ||||||||||||||||||
|
Randolph C. Blazer
|
2022 | 950,000 |
6,233,315
(3)
|
1,933,250 | 28,705 | 9,145,270 | |||||||||||||||||
| President | 2021 | 900,000 | 2,704,284 | 1,710,000 | 27,581 | 5,341,865 | |||||||||||||||||
| 2020 | 838,000 | 2,032,912 | 1,093,590 | 27,634 | 3,992,136 | ||||||||||||||||||
| Marie L. Perry |
2022
(1)
|
527,083 | 255,000 | 1,794,560 | 925,031 | 270 | 3,501,944 | ||||||||||||||||
|
Executive Vice President and Chief Financial Officer
|
|||||||||||||||||||||||
|
Jennifer H. Painter
|
2022 | 500,000 | 1,038,785 | 780,000 | 11,581 | 2,330,366 | |||||||||||||||||
|
Senior Vice President, Chief Legal Officer and Secretary
|
2021 | 475,000 | 969,108 | 741,000 | 270 | 2,185,378 | |||||||||||||||||
| 2020 | 430,000 | 755,039 | 390,225 | 270 | 1,575,534 | ||||||||||||||||||
| Rose L. Cunningham | 2022 | 310,425 | 259,574 | 447,012 | 11,599 | 1,028,610 | |||||||||||||||||
| Vice President, Chief Accounting Officer and Controller | |||||||||||||||||||||||
|
Edward L. Pierce
|
2022 | 675,000 | 1,246,638 | 1,215,000 | 16,863 | 3,153,501 | |||||||||||||||||
| Former Executive Vice President and Chief Financial Officer and Executive Advisor | 2021 | 650,000 | 1,651,767 | 1,140,750 | 270 | 3,442,787 | |||||||||||||||||
| 2020 | 630,000 | 1,277,753 | 609,840 | 270 | 2,517,863 | ||||||||||||||||||
| (1) | Ms. Perry was hired on January 31, 2022, so the salary reflects a partial year of her $575,000 annualized base pay, and the Non-Equity Incentive Plan amount is the pro rata bonus amount for the year. | ||||
| (2) | Amounts shown in the "Stock Awards" column reflect the aggregate grant date fair value of the awards for accounting purposes, computed in accordance with FASB ASC Topic 718. Assumptions used in the calculation of these amounts with respect to stock-based awards are included in Note 12 to the consolidated financial statements for the year ended December 31, 2022 included in our Annual Report. With respect to the performance-based RSUs granted in 2022 that vest based on achievement of financial metrics modified by an rTSR goal and are deemed to be performance awards, the grant date fair value of the awards is the closing price of ASGN's common stock on the date of grant, plus the fair value of the TSR modifier estimated using a Monte Carlo valuation model. 50 percent of the annual awards for the named executive officers are performance-based except for Mr. Hanson (the performance portion of his award is 60 percent), and the maximum value of the performance awards (assuming the achievement of maximum goals) is $5.4 million, $6.0 million, $1.15 million, $1.0 million, $500,000 and $1.2 million for Messrs. Hanson and Blazer, Mmes. Perry, Painter and Cunningham, and Mr. Pierce, respectively. | ||||
| (3) | The annual RSU grant to Mr. Blazer for 2022 is intended to reflect three years of grants. Mr. Blazer is not eligible to receive additional annual equity awards until 2025. | ||||
| (4) | The amounts set forth in the "Non-Equity Incentive Plan" column in 2022 represent payouts described in "Annual Cash Incentive Bonus" beginning on p. 28. All non-equity incentive plan compensation amounts were earned based on performance in the year reported and were paid out in February of the subsequent year. | ||||
| (5) | The amounts set forth in the "All Other Compensation" column in 2022 for Mr. Hanson include $10,675 of 401(k) plan matching contributions; $6,000 for his auto allowance; reimbursement of $2,500 for tax preparation fees and $1,500 for a physical exam; and payment by ASGN of the following insurance premiums: $270 for life, $256 for long-term disability, $315 for short-term disability, and $65 for accidental death and dismemberment. Mr. Blazer's 2022 amount includes $17,899 of 401(k) plan matching contributions; $6,000 for his auto allowance; and payment by ASGN of $2,306 of personal liability insurance premium. Ms. Perry's 2022 amount includes life insurance premiums paid by ASGN. The 2022 amounts for Ms. Painter includes $10,675 of 401(k) plan matching contributions; and payment by ASGN of the following insurance premiums: $270 for life, $256 for long-term disability, $315 for short-term disability, and $65 for accidental death and dismemberment. The 2022 amounts for Mr. Pierce include $10,675 of 401(k) plan matching contributions; $5,400 for his auto allowance; and payment by ASGN of the following insurance premiums: $270 for life, $256 for long-term disability, $315 for short-term disability, and $65 for accidental death and dismemberment. | ||||
| Grant Date |
Estimated Possible Payouts Under
Non-Equity Incentive Plan Awards ($) (1) |
Estimated Future Payouts Under Equity Incentive Plan Awards (#)
(2)
|
All Other Stock Awards: Number of Shares or Units (#)
(3)
|
Grant Date Fair Value of Stock Awards ($)
(4)
|
||||||||||||||||||||||||||||
|
Name
|
Approval Date | Threshold | Target | Maximum | Threshold | Target | Maximum | |||||||||||||||||||||||||
|
Theodore S. Hanson
|
12/8/2021 | 1/3/2022 | 14,509 | $1,799,987 | ||||||||||||||||||||||||||||
| 12/8/2021 | 2/10/2022 | $553,500 | $1,383,750 | $2,767,500 | ||||||||||||||||||||||||||||
| 12/8/2021 | 2/10/2022 | 6,030 | 24,120 | 48,240 | 2,910,078 | |||||||||||||||||||||||||||
| Randolph C. Blazer | 12/8/2021 | 1/3/2022 | 24,181 | 2,999,895 | ||||||||||||||||||||||||||||
| 12/8/2021 | 2/10/2022 | 418,000 | 1,045,000 | 2,090,000 | ||||||||||||||||||||||||||||
| 12/8/2021 | 2/10/2022 | 6,700 | 26,800 | 53,600 | 3,233,420 | |||||||||||||||||||||||||||
| Marie L. Perry | 2/6/2022 | 2/6/2022 | 5,249 | 599,908 | ||||||||||||||||||||||||||||
| 2/6/2022 | 2/6/2022 | 5,031 | 574,993 | |||||||||||||||||||||||||||||
| 1/3/2022 | 2/10/2022 | 189,750 | 474,375 | 948,750 | ||||||||||||||||||||||||||||
| 2/6/2022 | 2/10/2022 | 1,284 | 5,136 | 10,272 | 619,658 | |||||||||||||||||||||||||||
| Jennifer H. Painter | 12/8/2021 | 1/3/2022 | 4,030 | 499,962 | ||||||||||||||||||||||||||||
| 12/8/2021 | 2/10/2022 | 160,000 | 400,000 | 800,000 | ||||||||||||||||||||||||||||
| 12/8/2021 | 2/10/2022 | 1,117 | 4,466 | 8,932 | 538,823 | |||||||||||||||||||||||||||
| Rose L. Cunningham | 12/8/2021 | 1/3/2022 | 1,007 | 124,928 | ||||||||||||||||||||||||||||
| 12/8/2021 | 2/10/2022 | 93,128 | 232,819 | 465,638 | ||||||||||||||||||||||||||||
| 12/8/2021 | 2/10/2022 | 279 | 1,116 | 2,232 | 134,645 | |||||||||||||||||||||||||||
| Edward L. Pierce | 12/8/2021 | 1/3/2022 | 4,836 | 599,954 | ||||||||||||||||||||||||||||
| 12/8/2021 | 2/10/2022 | 243,000 | 607,500 | 1,215,000 | ||||||||||||||||||||||||||||
| 12/8/2021 | 2/10/2022 | 1,340 | 5,360 | 10,720 | 646,684 | |||||||||||||||||||||||||||
| (1) | Executive annual cash incentive compensation is determined by the Compensation Committee. See “Compensation Discussion and Analysis—Annual Cash Incentive Bonus Compensation” for a general description of the criteria used in determining annual incentive compensation paid to our named executive officers. Amounts shown in these columns represent each named executive officer’s cash incentive bonus opportunity for 2022. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (2) | Represents the RSU awards in 2022 that have performance targets. The awards have a February 10, 2022 grant date even though they were approved by the Compensation Committee in December 2021 because the performance targets were not set until that date. The awards are subject to achievement of a financial metric modified by relative total shareholder return ("rTSR") performance over a three-year period. The "Threshold" amount represents the minimum number of RSUs that could vest if the applicable performance goals are achieved at the threshold levels. The "Maximum" amount represents the maximum number of shares that could be issued upon vesting of the RSUs. See "Compensation Philosophy - Equity Incentive Compensation" beginning on p. 29 for a general description of the criteria used in determining the equity compensation granted to our named executive officers. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (3) | These RSU awards vest based on continued service to the Company, and do not have performance requirements. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (4) | Amounts shown in this column reflect the aggregate grant date fair value of the awards for accounting purposes, computed in accordance with FASB ASC Topic 718. Assumptions used in the calculation of these amounts with respect to stock-based awards are included in Note 12 to the consolidated financial statements for the year ended December 31, 2022 included in our Annual Report. With respect to the performance-based RSUs granted in 2022 that vest based on the achievement of a financial metric modified by an rTSR goal, the grant date fair value of the awards is the closing price of ASGN's common stock on the date of grant, plus the fair value of the rTSR modifier estimated using a Monte Carlo valuation model. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | Number of Shares or Units of Stock That Have Not Vested |
Market Value of Shares or Units of Stock That Have Not Vested ($)
(6)
|
Equity Incentive Plan Awards: Number of Unearned Shares That Have Not Vested |
Equity Incentive Plan Awards: Market Value of Unearned Shares That Have Not Vested ($)
(9)
|
|||||||||||||||||||||||||||||||||||||
|
Theodore S. Hanson
|
6,742 |
(1)
|
$549,338 | ||||||||||||||||||||||||||||||||||||||
| 13,240 |
(2)
|
1,078,795 | |||||||||||||||||||||||||||||||||||||||
| 14,509 |
(3)
|
1,182,193 | |||||||||||||||||||||||||||||||||||||||
| 116,410 |
(6)
|
$9,485,087 | |||||||||||||||||||||||||||||||||||||||
| 40,139 |
(7)
|
3,270,526 | |||||||||||||||||||||||||||||||||||||||
| 39,550 |
(8)
|
3,222,534 | |||||||||||||||||||||||||||||||||||||||
|
Randolph C. Blazer
|
18,412 |
(4)
|
1,500,210 | ||||||||||||||||||||||||||||||||||||||
| 4,097 |
(1)
|
333,824 | |||||||||||||||||||||||||||||||||||||||
| 8,275 |
(2)
|
674,247 | |||||||||||||||||||||||||||||||||||||||
| 24,181 |
(3)
|
1,970,268 | |||||||||||||||||||||||||||||||||||||||
| 47,156 |
(6)
|
3,842,271 | |||||||||||||||||||||||||||||||||||||||
| 16,723 |
(7)
|
1,362,590 | |||||||||||||||||||||||||||||||||||||||
| 43,944 |
(8)
|
3,580,557 | |||||||||||||||||||||||||||||||||||||||
| Marie L. Perry | 3,500 |
(5)
|
285,180 | 1,749 |
(5)
|
142,509 | |||||||||||||||||||||||||||||||||||
| 5,031 |
(3)
|
409,926 | |||||||||||||||||||||||||||||||||||||||
| 8,421 |
(8)
|
686,143 | |||||||||||||||||||||||||||||||||||||||
| Jennifer H. Painter | 1,521 |
(1)
|
123,931 | ||||||||||||||||||||||||||||||||||||||
| 3,102 |
(2)
|
252,751 | |||||||||||||||||||||||||||||||||||||||
| 4,030 |
(3)
|
328,364 | |||||||||||||||||||||||||||||||||||||||
| 17,514 |
(6)
|
1,427,041 | |||||||||||||||||||||||||||||||||||||||
| 6,271 |
(7)
|
510,961 | |||||||||||||||||||||||||||||||||||||||
| 7,323 |
(8)
|
596,678 | |||||||||||||||||||||||||||||||||||||||
| Rose L. Cunningham | 848 |
(2)
|
69,095 | ||||||||||||||||||||||||||||||||||||||
| 1,980 |
(6)
|
161,330 | |||||||||||||||||||||||||||||||||||||||
| 1,007 |
(3)
|
82,050 | |||||||||||||||||||||||||||||||||||||||
| 1,714 |
(7)
|
139,657 | |||||||||||||||||||||||||||||||||||||||
| 1,830 |
(8)
|
149,108 | |||||||||||||||||||||||||||||||||||||||
| Edward L. Pierce | 2,575 |
(1)
|
209,811 | ||||||||||||||||||||||||||||||||||||||
| 4,964 |
(2)
|
404,467 | |||||||||||||||||||||||||||||||||||||||
| 4,836 |
(3)
|
394,037 | |||||||||||||||||||||||||||||||||||||||
| 29,640 |
(6)
|
2,415,067 | |||||||||||||||||||||||||||||||||||||||
| 10,035 |
(7)
|
817,652 | |||||||||||||||||||||||||||||||||||||||
| 8,789 |
(8)
|
716,128 | |||||||||||||||||||||||||||||||||||||||
| (1) | The remaining third of this 2020 time-vesting 2020 RSU award vested on January 2, 2023. | ||||||||||||||||||||||||||||||||||||||||
| (2) | The second third of this time-vesting 2021 RSU award vested on January 2, 2023, and the remaining third vests on January 2, 2024 subject to continued service to the Company. For Mr. Pierce, vesting of the remaining third was accelerated upon his retirement in March 2023. | ||||||||||||||||||||||||||||||||||||||||
| (3) | One-third of this time-vesting 2022 RSU award vested on January 2, 2023, and the remaining two-thirds vest in equal parts on January 2 of 2024 and 2025 subject to continued service to the Company. For Mr. Pierce, vesting of one-third of the RSUs was accelerated upon his retirement in March 2023. | ||||||||||||||||||||||||||||||||||||||||
| (4) | The remaining half of this 2019 RSU award vested on January 2, 2023. On February 10, 2022, the performance targets over a three-year period were certified by the Compensation Committee, and the RSUs were subject solely on continued service to the Company. | ||||||||||||||||||||||||||||||||||||||||
| (5) | This RSU grant vested or vests one-third on each February 6 of 2023, 2024 and 2025 subject to continued service to the Company through such dates and for the third tranche, subject to Ms. Perry's relocation to the greater Richmond, VA area. | ||||||||||||||||||||||||||||||||||||||||
| (6) | This 2021 time-vesting RSU grant will vest 50 percent in each of June 2023 and 2024. | ||||||||||||||||||||||||||||||||||||||||
| (7) | The maximum amount of this RSU award (200 percent of the RSUs granted) vested on April 8, 2023. It was subject to achievement of relative TSR over the three-year period beginning on April 8, 2020, and was further subject to continued service to the Company through January 2, 2023. | ||||||||||||||||||||||||||||||||||||||||
| (8) | Based on performance tracking through December 31, 2022, approximately 182 percent of this RSU award is estimated to vest on January 2, 2024, subject to achievement of performance targets over the three-year period beginning on January 1, 2021. For Mr. Pierce, one-fourth of this award was forfeited upon his retirement in March 2023. | ||||||||||||||||||||||||||||||||||||||||
| (9) | Based on performance tracking through December 31, 2022, approximately 164 percent of this RSU award is estimated to vest on January 2, 2025, subject to achievement of performance targets over the three-year period beginning on January 1, 2022. For Mr. Pierce, 7/12ths of this award was forfeited upon his retirement in March 2023. | ||||||||||||||||||||||||||||||||||||||||
| (10) | The market value of the RSUs that have not yet vested as of December 30, 2022 was determined by multiplying the outstanding number of RSUs by $81.48, the closing price of our stock on that day. | ||||||||||||||||||||||||||||||||||||||||
|
Stock Awards
|
|||||||||||
|
Name
|
Number of
Shares Acquired
on Vesting
|
Value Realized on Vesting
|
|||||||||
| Theodore S. Hanson | 37,840 | $4,355,635 | |||||||||
|
Randolph C. Blazer
|
37,809 | 4,387,898 | |||||||||
|
Marie L Perry
|
— | — | |||||||||
|
Jennifer H. Painter
|
14,946 | 1,467,268 | |||||||||
| Rose L. Cunningham | 5,950 | 564,452 | |||||||||
| Edward L. Pierce | 12,344 | 1,479,839 | |||||||||
|
Name
|
Executive Contributions
in Last FY
(2)
|
Aggregate Earnings in Last FY
(3)
|
Aggregate Withdrawals/Distributions |
Aggregate Balance at December 31, 2022
|
||||||||||
|
Theodore S. Hanson
|
$— | $(133,150) | $— | $887,738 | ||||||||||
|
Randolph C. Blazer
(1)
|
— | — | — | — | ||||||||||
|
Marie L. Perry
(1)
|
— | — | — | — | ||||||||||
| Jennifer H. Painter | 321,352 | (134,775) | (213,990) | 758,394 | ||||||||||
| Rose L. Cunningham | 15,498 | (15,632) | — | 88,090 | ||||||||||
| Edward L. Pierce | — | (143,694) | (89,044) | 1,432,862 | ||||||||||
| (1) | Does not participate in the nonqualified deferred compensation plan. | |||||||
| (2) | Mmes. Painter and Cunningham each deferred five percent of their 2022 salary and Ms. Painter also deferred 40 percent of her bonus for the year ending December 31, 2021, which was paid out in February 2022. These amounts are included in the amounts reported as "Salary" for 2022 and "Non-Equity Incentive Plan Compensation" for 2021 in the Summary Compensation Table. | |||||||
| (3) |
These earnings (losses) are not included in the Summary Compensation Table as there were no Company contributions, and the DCP investment options substantially track the Company's 401(k) plan fund elections
.
|
|||||||
|
Termination Without Cause ($)
|
Involuntary Termination within 18 months after CIC ($)
|
Death or Disability ($)
|
|||||||||
|
Theodore S. Hanson
|
|||||||||||
|
Pro Rata Bonus
(1)
|
-
|
-
|
-
|
||||||||
|
Total Cash Severance (applicable salary and target bonus amounts)
|
$1,537,500 | $7,226,250 | $1,025,000 | ||||||||
|
Value of Accelerated RSUs
|
12,739,597 | 11,331,705 |
-
|
||||||||
|
Insurance Premiums Costs
|
41,817 | 41,817 | 41,817 | ||||||||
|
Total Severance and Benefits
|
14,318,914 | 18,599,772 | 1,066,817 | ||||||||
|
Randolph C. Blazer
|
|||||||||||
|
Pro Rata Bonus
(1)
|
-
|
-
|
-
|
||||||||
|
Total Cash Severance (applicable salary and target bonus amounts)
|
950,000 | 5,486,250 | 950,000 | ||||||||
|
Value of Accelerated RSUs
|
5,944,199 | 9,330,601 |
-
|
||||||||
|
Insurance Premiums Costs
|
41,527 | 62,290 | 41,527 | ||||||||
|
Total Severance and Benefits
|
6,935,726 | 14,879,141 | 991,527 | ||||||||
| Marie L. Perry | |||||||||||
|
Pro Rata Bonus
(1)
|
-
|
-
|
-
|
||||||||
|
Total Cash Severance (applicable salary and target bonus amounts)
|
575,000 | 2,731,250 | 575,000 | ||||||||
|
Value of Accelerated RSUs
|
228,728 | 1,256,096 |
-
|
||||||||
|
Insurance Premium Costs
|
8,411 | 12,617 | 8,411 | ||||||||
|
Total Severance and Benefits
|
812,139 | 3,999,963 | 583,411 | ||||||||
|
Jennifer H. Painter
|
|||||||||||
|
Pro Rata Bonus
(1)
|
-
|
-
|
-
|
||||||||
|
Total Cash Severance (applicable salary and target bonus amounts)
|
500,000 | 1,800,000 |
-
|
||||||||
|
Value of Accelerated RSUs
|
1,966,572 | 2,062,667 |
-
|
||||||||
|
Insurance Premiums Costs
|
9,257 | 13,886 |
-
|
||||||||
|
Total Severance and Benefits
|
2,475,829 | 3,876,553 |
-
|
||||||||
|
Rose L. Cunningham
|
|||||||||||
|
Pro Rata Bonus
(1)
|
-
|
-
|
-
|
||||||||
|
Total Cash Severance (applicable salary and target bonus amounts)
|
438,031 | 407,433 |
-
|
||||||||
|
Value of Accelerated RSUs
|
304,140 | 304,140 |
-
|
||||||||
|
Insurance Premiums Costs
|
27,878 | 41,817 |
-
|
||||||||
|
Total Severance and Benefits
|
770,049 | 753,390 |
-
|
||||||||
| Edward L. Pierce | |||||||||||
|
Pro Rata Bonus
(1)
|
-
|
-
|
-
|
||||||||
|
Total Cash Severance (applicable salary and target bonus amounts)
|
675,000 | 3,206,250 | 675,000 | ||||||||
|
Value of Accelerated RSUs
|
3,198,857 | 3,100,966 |
-
|
||||||||
|
Insurance Premium Costs
|
-
|
29,079 |
-
|
||||||||
| Relocation Expenses | 80,000 | ||||||||||
|
Total Severance and Benefits
|
3,953,857 | 6,336,295 | 675,000 | ||||||||
| (1) | Cash incentive bonuses are earned on December 31 of a given year, and are therefore payable in full upon certification. The bonuses earned by the executive officers for 2022 were as follows: Mr. Hanson $2,663,719; Mr. Blazer, $1,933,250; Ms. Perry, $925,031; Ms. Painter, $780,000: Ms. Cunningham $447,012; and Mr. Pierce $1,215,000. | |||||||
|
As of December 31, 2022
|
Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights
(3)
|
Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights
(3)
|
Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a)) | |||||||||||
|
Plan Category
|
(a)
|
(b)
|
(c)
|
|||||||||||
|
Equity compensation plan approved by stockholders
(1)
|
875,069 | — |
3,064,147
(4)
|
|||||||||||
|
Equity compensation plan not approved by stockholders
(2)
|
189,710 | — | 82,962 | |||||||||||
|
Total
|
1,064,779 | — | 3,147,109 | |||||||||||
| (1) | Consists of our Second Amended and Restated 2010 Incentive Award Plan (the "Plan") and the Second Amended and Restated 2010 Employee Stock Purchase Plan (the "ESPP"). | |||||||||||||
| (2) | Consists of our Second Amended and Restated 2012 Employment Inducement Incentive Award Plan, as amended (the "Inducement Plan"). | |||||||||||||
| (3) | Outstanding RSUs vest and convert to shares of common stock without the payment of consideration. As of December 31, 2022, there were no options, warrants or rights outstanding, and therefore there is no weighted-average exercise price of outstanding options, warrants and rights. | |||||||||||||
| (4) |
Includes shares available for future issuance under the Plan (2,198,078 shares) and the ESPP (866,069
shares). With respect to the ESPP, the maximum number of shares subject to purchase during the purchase period in effect on December 31, 2022 was 90,925.
|
|||||||||||||
| Value of Initial Fixed $100 Investment Based On: | ||||||||||||||||||||||||||
| Year |
Summary Compensation Table Total for PEO
(1)
|
Compensation Actually Paid to PEO
(2)
|
Average Summary Table Total for non-PEO NEOs
(3)
|
Average Compensation Actually Paid to non-PEO NEOs
(2)
|
Total Shareholder Return |
Peer Group Total Shareholder Return
(4)
|
Net Income
(5)
|
Performance Target Adjusted EBITDA | ||||||||||||||||||
| 2022 |
$
|
$
|
$
|
$
|
$
|
$
|
$
|
$
|
||||||||||||||||||
| 2021 |
|
|
|
|
$
|
$
|
|
|
||||||||||||||||||
| 2020 |
|
|
|
|
$
|
$
|
|
|
||||||||||||||||||
| (1) |
|
||||
| (2) |
|
||||
| Equity Awards | |||||||||||||||||||||||
| Year | Executives | Summary of Compensation Table Total | Deduct Summary of Compensation Table Equity Awards | Add Year-End Value of Unvested Equity Granted in the Year | Add Change in Value of Unvested Awards Granted in Prior Years | Add Change in Value of Vested Equity Granted in Prior Years |
Compensation Actually Paid
(6)
|
||||||||||||||||
| 2022 | PEO |
$
|
$
|
$
|
$(
|
$(
|
|
||||||||||||||||
| Average non-PEO NEOs |
|
|
|
(
|
(
|
|
|||||||||||||||||
| 2021 | PEO |
|
|
|
|
|
|
||||||||||||||||
| Average non-PEO NEOs |
|
|
|
|
|
|
|||||||||||||||||
| 2020 | PEO |
|
|
|
|
(
|
|
||||||||||||||||
| Average non-PEO NEOs |
|
|
|
|
(
|
|
|||||||||||||||||
| (3) |
|
||||
| (4) |
|
||||
| (5) |
|
||||
| (6) | Performance Target Adjusted EBITDA is a non-GAAP measure. Please refer to Annex A for a reconciliation to the nearest GAAP metric. | ||||
| 2022 | 2021 | |||||||||||||
|
Audit Fees
(1)
|
$3,534,000 | $3,159,000 | ||||||||||||
|
Audit-related Fees
(2)
|
1,481,570 | 2,339,375 | ||||||||||||
|
Tax Fees
(3)
|
28,875 | 52,500 | ||||||||||||
|
Company Filings:
|
Period (if applicable):
|
||||
|
Annual Report on Form 10-K
|
Year ended December 31, 2022
|
||||
| /s/ Jennifer Hankes Painter | ||
|
Jennifer Hankes Painter
|
||
|
April 27, 2023
|
||
|
|
||
| Net income | $268,074,181 | |||||||
| Less: Income from discontinued operations, net of income taxes | 1,201,431 | |||||||
| Income from continuing operations | 266,872,750 | |||||||
| Interest expense | 45,923,648 | |||||||
| Provision for income taxes | 96,666,988 | |||||||
| Depreciation | 26,327,262 | |||||||
| Amortization of intangible assets | 65,114,767 | |||||||
| EBITDA | 500,905,415 | |||||||
| Stock-based compensation | 49,347,642 | |||||||
| Acquisition, integration and strategic planning expenses | 9,231,810 | |||||||
| Adjusted EBITDA | 559,484,867 | |||||||
|
Other adjustments for performance target
1
|
(8,599,434) | |||||||
| Performance target Adjusted EBITDA | $550,885,433 | |||||||
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
| FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
|---|
| DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
|---|
No information found
No Customers Found
No Suppliers Found
Price
Yield
| Owner | Position | Direct Shares | Indirect Shares |
|---|