Definitive proxy statements

Pay vs Performance Disclosure

v3.23.4
Pay vs Performance Disclosure - USD ($)
12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table
Value of Initial Fixed $100 Investment Based on:
Fiscal Year
Summary Compensation Table Total for PEO(1)
Compensation Actually Paid to PEO(1)(2)
Average Summary Compensation Table Total for non-PEO NEOs(1)
Average Compensation Actually Paid to non-PEO NEOs(1)(2)
Total Shareholder Return
Peer Group Total Shareholder Returns(3)
Net Income (Loss)
($ millions)
Adjusted EPS(4)
(a) (b) (c) (d) (e) (f) (g) (h) (i)
2023 $ 6,473,964  $ 12,912,659  $ 1,639,651  $ 3,093,694  $ 188.13  $ 138.24  $ 37.8  $ 2.88 
2022 6,050,371  2,137,083  2,487,573  1,569,045  105.71  113.15  (99.8) 2.88 
2021 6,732,304  10,230,853  1,892,820  2,697,931  159.12  137.26  2.9  3.28 
   
Company Selected Measure Name Adjusted earnings per share ("Adjusted EPS")    
Named Executive Officers, Footnote
(1) Mr. Bartolacci served as our principal executive officer ("PEO") for the full fiscal year in each of 2023, 2022, and 2021. Our non-PEO named executive officers (NEOs) included: (a) for fiscal year 2023, Messrs. Gackenbach, Kohl, Nicola, and Walters; (b) for fiscal year 2022, Messrs. Babe, Gackenbach, Nicola, and Walters; and (c) for fiscal year 2021, Messrs. Dunn, Gackenbach, Kohl, and Nicola.
   
Peer Group Issuers, Footnote
(3) The Peer Group for which Total Shareholder Return is provided in column (g) is our compensation benchmarking peer group, comprised of the following companies:
Company FY2023 FY2022 FY2021
Altra Industrial Motion Corp. Y
Barnes Group Inc. Y Y Y
Columbus McKinnon Corporation Y
Deluxe Corporation Y Y Y
EnPro Industries, Inc. Y Y Y
Graco Inc. Y Y Y
Hillenbrand, Inc. Y Y Y
ICF International, Inc. Y Y Y
InnerWorkings, Inc. Y
John Wiley & Sons, Inc. Y Y Y
Kaman Corporation Y Y Y
Mativ Holdings, Inc. Y Y Y
MDC Partners Inc. Y
Meredith Corporation Y
Minerals Technologies Inc. Y Y Y
Moog Inc. Y Y Y
MSA Safety Incorporated Y Y Y
Service Corporation International Y Y Y
Stagwell Inc. Y Y
Standex International Corporation Y Y Y
Teledyne Technologies Incorporated Y Y
TriMas Corporation Y Y Y
Viad Corp Y
Woodward, Inc. Y Y Y
   
PEO Total Compensation Amount $ 6,473,964 $ 6,050,371 $ 6,732,304
PEO Actually Paid Compensation Amount $ 12,912,659 2,137,083 10,230,853
Adjustment To PEO Compensation, Footnote
(2) The following amounts were deducted from / added to the Summary Compensation Table ("SCT") total compensation in accordance with the SEC-mandated adjustments to calculate Compensation Actually Paid ("CAP") to our principal executive officer ("PEO") and average CAP to our non-PEO named executive officers. The fair value of equity awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards.
Fiscal Year 2023 2022 2021
SCT Total $ 6,473,964  $ 6,050,371  $ 6,732,304 
 - Change in Actuarial Present Value of Pension Plans Reported in Fiscal Year (76,768) —  (284,123)
 + Service Cost of Pension in Fiscal Year —  —  36,141 
 + Prior Service Cost of Pension in Fiscal Year —  —  (577,796)
 - Grant Date Fair Value of Stock Awards Granted in Fiscal Year (4,152,750) (3,819,500) (3,639,530)
 ± Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards
Granted in Fiscal Year
5,836,500  2,577,150  5,875,619 
 ± Change in Fair Value of Outstanding and Unvested Stock Awards
Granted in Prior Fiscal Years
4,108,538  (3,263,603) 1,703,786 
 ± Fair Value at Vesting of Stock Awards Granted in Fiscal Year
That Vested During Fiscal Year
—  —  — 
 ± Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year 370,057  282,746  107,662 
 - Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years
That Failed to Meet Applicable Vesting Conditions During Fiscal Year
—  —  — 
 + Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year 353,118  309,919  276,790 
Compensation Actually Paid $ 12,912,659  $ 2,137,083  $ 10,230,853 
   
Non-PEO NEO Average Total Compensation Amount $ 1,639,651 2,487,573 1,892,820
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,093,694 1,569,045 2,697,931
Adjustment to Non-PEO NEO Compensation Footnote
(2) The following amounts were deducted from / added to the Summary Compensation Table ("SCT") total compensation in accordance with the SEC-mandated adjustments to calculate Compensation Actually Paid ("CAP") to our principal executive officer ("PEO") and average CAP to our non-PEO named executive officers. The fair value of equity awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards.
Fiscal Year 2023 2022 2021
Average SCT Total $ 1,639,651  $ 2,487,573  $ 1,892,820 
 - Change in Actuarial Present Value of Pension Plans Reported in Fiscal Year (22,356) —  (76,313)
 + Service Cost of Pension in Fiscal Year —  —  76,083 
 + Prior Service Cost of Pension in Fiscal Year —  —  (125,590)
 - Grant Date Fair Value of Stock Awards Granted in Fiscal Year (688,665) (1,610,875) (797,742)
 ± Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards
Granted in Fiscal Year
967,886  1,179,746  1,287,866 
 ± Change in Fair Value of Outstanding and Unvested Stock Awards
Granted in Prior Fiscal Years
1,041,784  (625,793) 365,060 
 ± Fair Value at Vesting of Stock Awards Granted in Fiscal Year
That Vested During Fiscal Year
—  —  — 
 ± Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year 76,351  52,003  17,226 
 - Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years
That Failed to Meet Applicable Vesting Conditions During Fiscal Year
—  —  — 
 + Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year 79,043  86,391  58,521 
Compensation Actually Paid $ 3,093,694  $ 1,569,045  $ 2,697,931 
   
Compensation Actually Paid vs. Total Shareholder Return
CAP vs TSR.jpg
   
Compensation Actually Paid vs. Net Income
CAP vs NI.jpg
   
Compensation Actually Paid vs. Company Selected Measure
CAP vs Adj EPS.jpg
   
Total Shareholder Return Vs Peer Group
CAP vs TSR.jpg
   
Tabular List, Table
Most Important Performance Measures
Adjusted Net Income
Adjusted EBITDA
Economic Value Added
Adjusted Operating Cash Flow
Adjusted EPS
Return on Invested Capital
   
Total Shareholder Return Amount $ 188.13 105.71 159.12
Peer Group Total Shareholder Return Amount 138.24 113.15 137.26
Net Income (Loss) $ 37,800,000 $ (99,800,000) $ 2,900,000
Company Selected Measure Amount 2.88 2.88 3.28
PEO Name Mr. Bartolacci    
Measure:: 1      
Pay vs Performance Disclosure      
Name •Adjusted Net Income    
Measure:: 2      
Pay vs Performance Disclosure      
Name •Adjusted EBITDA    
Measure:: 3      
Pay vs Performance Disclosure      
Name •Economic Value Added    
Measure:: 4      
Pay vs Performance Disclosure      
Name •Adjusted Operating Cash Flow    
Measure:: 5      
Pay vs Performance Disclosure      
Name •Adjusted EPS    
Non-GAAP Measure Description
(4) Adjusted earnings per share ("Adjusted EPS") is a Non-GAAP financial measure. Adjusted EPS provides the Company with an understanding of the results from the primary operations of the business by excluding the effects of certain acquisition, divestiture, and system-integration costs, and items that do not reflect the ordinary earnings of its operations. Fiscal year 2023 Adjusted EPS reflects GAAP EPS adjusted for acquisition and divestiture items, strategic initiatives and other charges, highly inflationary accounting impacts (primarily non-cash), defined benefit plan termination related items, non-service pension and postretirement expense, and intangible amortization expense. Fiscal year 2022 Adjusted EPS reflects GAAP EPS adjusted for acquisition and divestiture items, strategic initiatives and other charges, highly inflationary accounting impacts (primarily non-cash), defined benefit plan termination related items, asset write-downs, net, goodwill write-downs, non-service pension and postretirement expense, and intangible amortization expense. Fiscal year 2021 Adjusted EPS reflects GAAP EPS adjusted for acquisition and divestiture items, strategic initiatives and other charges, non-service pension and postretirement expense, intangible amortization expense, and tax-related items. Adjusted EPS provides management with insight into the earning value for shareholders excluding certain costs, not related to the Company’s primary operations. Likewise, this measure may be useful to an investor in evaluating the underlying operating performance of the Company’s business overall, as well as performance trends, on a consistent basis.
   
Measure:: 6      
Pay vs Performance Disclosure      
Name •Return on Invested Capital    
PEO | Change in Pension Value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (76,768) $ 0 $ (284,123)
PEO | Pension Adjustment, Service Cost [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 36,141
PEO | Pension Adjustment, Prior Service Cost [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 (577,796)
PEO | Stock Awards Adjustment, Granted In Current Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (4,152,750) (3,819,500) (3,639,530)
PEO | Stock Awards Granted In Current Year, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 5,836,500 2,577,150 5,875,619
PEO | Stock Awards Granted In Prior Years, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 4,108,538 (3,263,603) 1,703,786
PEO | Stock Awards Granted In Current Year, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
PEO | Stock Awards Granted In Prior Years, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 370,057 282,746 107,662
PEO | Stock Awards That Failed To Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
PEO | Stock Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 353,118 309,919 276,790
Non-PEO NEO | Change in Pension Value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (22,356) 0 (76,313)
Non-PEO NEO | Pension Adjustment, Service Cost [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 76,083
Non-PEO NEO | Pension Adjustment, Prior Service Cost [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 (125,590)
Non-PEO NEO | Stock Awards Adjustment, Granted In Current Year [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (688,665) (1,610,875) (797,742)
Non-PEO NEO | Stock Awards Granted In Current Year, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 967,886 1,179,746 1,287,866
Non-PEO NEO | Stock Awards Granted In Prior Years, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,041,784 (625,793) 365,060
Non-PEO NEO | Stock Awards Granted In Current Year, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Stock Awards Granted In Prior Years, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 76,351 52,003 17,226
Non-PEO NEO | Stock Awards That Failed To Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Stock Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 79,043 $ 86,391 $ 58,521