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Pay vs Performance Disclosure
 1 Months Ended 3 Months Ended 12 Months Ended
Jun. 30, 2020
Apr. 30, 2020
Jun. 30, 2020
Dec. 31, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
Pay vs Performance Disclosure              
Pay vs Performance Disclosure, Table      
Pay vs. Performance Disclosure
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation
S-K,
we are providing the following information about the relationship between compensation actually paid (as calculated in accordance with applicable SEC rules) and certain financial performance of our Company, as well as certain other information.
 
                                                            
Value of initial fixed $100
investment based on:
                
Year
  
Summary
Compensation
Table Total for
first PEO
(1)
    
Summary
Compensation
Table Total for
second PEO
(2)
    
Summary
Compensation
Table Total for
third PEO
    
Compensation
Actually
Paid
to first
PEO
(4)
    
Compensation
Actually Paid
to second
PEO
(4)
    
Compensation
Actually Paid
to third
PEO
(4)
    
Average
Summary
Compensation
Table Total
for
Non-PEO

NEOs
(5)
    
Average
Compensation
Actually Paid
to
Non-PEO

NEOs
(4)
    
Total
Shareholder
Return
    
Peer Group
Total
Shareholder
Return
(6)
    
Net Income
(in millions)
    
Adjusted
EBITDA
Margin
(7)
  
2023
     5,715,278       N/A       N/A       4,384,579       N/A       N/A       1,112,781       1,000,437       101.62       147.20       37.5       19.3 % 
2022
     6,544,281       N/A       N/A       1,486,682       N/A       N/A       1,035,880       283,340       122.03       113.39       98.4       23.2 % 
2021
     5,331,977       N/A       N/A       10,074,669       N/A       N/A       1,223,075       2,387,841       234.54       123.43       104.6       24.6 % 
2020
     2,227,500       2,188,050       1,533,991       2,923,629       597,049       2,078,775       1,165,507       1,323,008       118.23       112.22       14.2       23.2 % 
 
  (1)
Josef Matosevic joined the Company in June 2020.
 
  (2)
Wolfgang Dangel separated from the Company in April 2020.
 
  (3)
Tricia Fulton was interim CEO for the period from April 2020 to June 2020.
 
  (4)
The charts below detail the additions to and deductions from the Summary Compensation Table Totals to calculate the Compensation Actually Paid amounts.
 
  (5)
The
Non-PEO
NEOs are comprised of: 2023 – Sean Bagan, Tricia Fulton (resigned in August 2023), Matteo Arduini, Lee Wichlacz, Jason Morgan (resigned in March 2023) and Marc Greenberg; 2022 – Tricia Fulton, Matteo Arduini, Jason Morgan and Marc Greenberg; 2021 – Tricia Fulton, Matteo Arduini, Jason Morgan, Melanie Nealis (resigned in March 2022) and Jinger McPeak (separated in April 2021); 2020 - Matteo Arduini, Melanie Nealis (resigned in March 2022), Jinger McPeak (separated in April 2021) and Raj Menon (separated in September 2020).
 
  (6)
The Company utilized the Dow Jones US Diversified Industries Index, for the peer group. This index has been utilized historically in our Annual Reports on Form
10-K
in connection with the performance graph and most closely aligns with our line of business.
 
  (7)
Adjusted EBITDA margin was selected as the Company-Selected Measure. A detailed adjusted EBITDA margin description and reconciliation can be found within our Q4 2023 earnings release included as Exhibit 99.1 to the Company’s Current Report on Form 8-K furnished with the SEC on February 27, 2024.
     
Company Selected Measure Name       Adjusted EBITDA margin      
Named Executive Officers, Footnote       The
Non-PEO
NEOs are comprised of: 2023 – Sean Bagan, Tricia Fulton (resigned in August 2023), Matteo Arduini, Lee Wichlacz, Jason Morgan (resigned in March 2023) and Marc Greenberg; 2022 – Tricia Fulton, Matteo Arduini, Jason Morgan and Marc Greenberg; 2021 – Tricia Fulton, Matteo Arduini, Jason Morgan, Melanie Nealis (resigned in March 2022) and Jinger McPeak (separated in April 2021); 2020 - Matteo Arduini, Melanie Nealis (resigned in March 2022), Jinger McPeak (separated in April 2021) and Raj Menon (separated in September 2020). 		     
Peer Group Issuers, Footnote       The Company utilized the Dow Jones US Diversified Industries Index, for the peer group. This index has been utilized historically in our Annual Reports on Form
10-K
in connection with the performance graph and most closely aligns with our line of business. 		     
Adjustment To PEO Compensation, Footnote      
The following table reconciles the Summary Compensation Table (“SCT”) totals to Compensation Actually Paid (“CAP”).
 
               
    
2023
    
 
    
2022
    
 
    
2021
    
 
    
2020
  
   
    
PEO
    
Average Non-
PEO NEOs
           
PEO
    
Average Non-
PEO NEOs
           
PEO
    
Average Non-
PEO NEOs
           
First PEO
    
Second
PEO
    
Average Non-
PEO NEOs
  
Summary Compensation Table Total
  
 
5,715,278
 
  
 
1,112,781
 
  
 
 
 
  
 
6,544,281
 
  
 
1,035,880
 
  
 
 
 
  
 
5,331,977
 
  
 
1,223,075
 
  
 
 
 
  
 
2,227,500
 
  
 
2,188,050
 
  
 
1,165,507
 
Deduction for value reported in the Stock Awards and Option Awards columns of the SCT
  
 
(4,445,378
) 
  
 
(578,361
) 
  
 
 
 
  
 
(4,989,614
) 
  
 
(528,649
) 
  
 
 
 
  
 
(2,135,026
) 
  
 
(426,655
) 
  
 
 
 
  
 
(1,188,548
) 
  
 
(950,066
) 
  
 
(493,238
) 
Addition for
year-end
fair value of equity awards granted in the current year
  
 
3,604,146
 
  
 
464,664
 
  
 
 
 
  
 
3,517,429
 
  
 
362,285
 
  
 
 
 
  
 
4,104,868
 
  
 
503,846
 
  
 
 
 
  
 
1,884,677
 
  
 
—
 
  
 
571,465
 
Addition / (Deduction) for the change in fair value of equity awards granted in prior years and unvested as of the end of the current year
  
 
(745,509
) 
  
 
(21,906
) 
  
 
 
 
  
 
(1,918,378
) 
  
 
(194,346
) 
  
 
 
 
  
 
2,555,350
 
  
 
827,017
 
  
 
 
 
  
 
—
 
  
 
—
 
  
 
122,384
 
Addition / (Deduction) for the change in fair value of equity awards granted in prior years and vested during the current year
  
 
256,042
 
  
 
23,259
 
  
 
 
 
  
 
(1,667,036
) 
  
 
(391,830
) 
  
 
 
 
  
 
217,500
 
  
 
326,594
 
  
 
 
 
  
 
—
 
  
 
(53,694
) 
  
 
(18,740
) 
Deduction for the fair value as of the prior year end of equity awards deemed to fail to meet the applicable vesting conditions in the current year
  
 
—
 
  
 
—
 
  
 
 
 
  
 
—
 
  
 
—
 
  
 
 
 
  
 
—
 
  
 
(66,036
) 
  
 
 
 
  
 
—
 
  
 
(587,241
) 
  
 
(24,370
) 
Compensation Actually Paid
  
 
4,384,579
 
  
 
1,000,437
 
  
 
 
 
  
 
1,486,682
 
  
 
283,340
 
  
 
 
 
  
 
10,074,669
 
  
 
2,387,841
 
  
 
 
 
  
 
2,923,629
 
  
 
597,049
 
  
 
1,323,008
 
      
Non-PEO NEO Average Total Compensation Amount       $ 1,112,781 $ 1,035,880 $ 1,223,075 $ 1,165,507
Non-PEO NEO Average Compensation Actually Paid Amount       $ 1,000,437 283,340 2,387,841 1,323,008
Adjustment to Non-PEO NEO Compensation Footnote      
The following table reconciles the Summary Compensation Table (“SCT”) totals to Compensation Actually Paid (“CAP”).
 
               
    
2023
    
 
    
2022
    
 
    
2021
    
 
    
2020
  
   
    
PEO
    
Average Non-
PEO NEOs
           
PEO
    
Average Non-
PEO NEOs
           
PEO
    
Average Non-
PEO NEOs
           
First PEO
    
Second
PEO
    
Average Non-
PEO NEOs
  
Summary Compensation Table Total
  
 
5,715,278
 
  
 
1,112,781
 
  
 
 
 
  
 
6,544,281
 
  
 
1,035,880
 
  
 
 
 
  
 
5,331,977
 
  
 
1,223,075
 
  
 
 
 
  
 
2,227,500
 
  
 
2,188,050
 
  
 
1,165,507
 
Deduction for value reported in the Stock Awards and Option Awards columns of the SCT
  
 
(4,445,378
) 
  
 
(578,361
) 
  
 
 
 
  
 
(4,989,614
) 
  
 
(528,649
) 
  
 
 
 
  
 
(2,135,026
) 
  
 
(426,655
) 
  
 
 
 
  
 
(1,188,548
) 
  
 
(950,066
) 
  
 
(493,238
) 
Addition for
year-end
fair value of equity awards granted in the current year
  
 
3,604,146
 
  
 
464,664
 
  
 
 
 
  
 
3,517,429
 
  
 
362,285
 
  
 
 
 
  
 
4,104,868
 
  
 
503,846
 
  
 
 
 
  
 
1,884,677
 
  
 
—
 
  
 
571,465
 
Addition / (Deduction) for the change in fair value of equity awards granted in prior years and unvested as of the end of the current year
  
 
(745,509
) 
  
 
(21,906
) 
  
 
 
 
  
 
(1,918,378
) 
  
 
(194,346
) 
  
 
 
 
  
 
2,555,350
 
  
 
827,017
 
  
 
 
 
  
 
—
 
  
 
—
 
  
 
122,384
 
Addition / (Deduction) for the change in fair value of equity awards granted in prior years and vested during the current year
  
 
256,042
 
  
 
23,259
 
  
 
 
 
  
 
(1,667,036
) 
  
 
(391,830
) 
  
 
 
 
  
 
217,500
 
  
 
326,594
 
  
 
 
 
  
 
—
 
  
 
(53,694
) 
  
 
(18,740
) 
Deduction for the fair value as of the prior year end of equity awards deemed to fail to meet the applicable vesting conditions in the current year
  
 
—
 
  
 
—
 
  
 
 
 
  
 
—
 
  
 
—
 
  
 
 
 
  
 
—
 
  
 
(66,036
) 
  
 
 
 
  
 
—
 
  
 
(587,241
) 
  
 
(24,370
) 
Compensation Actually Paid
  
 
4,384,579
 
  
 
1,000,437
 
  
 
 
 
  
 
1,486,682
 
  
 
283,340
 
  
 
 
 
  
 
10,074,669
 
  
 
2,387,841
 
  
 
 
 
  
 
2,923,629
 
  
 
597,049
 
  
 
1,323,008
 
      
Compensation Actually Paid vs. Total Shareholder Return      
The charts below present the relationship between the PEOs and average other NEOs’ CAP to the Company and peer group total shareholder return, net income, and adjusted EBITDA margin for the previous four years. The graphical representations demonstrate that both the PEOs and average other NEOs CAP is aligned with shareholder and Company performance.
Compensation actually paid to PEOs presented in the charts combine the full year compensation of our three PEOs for the 2020 year even though they only served a partial year. Average compensation paid to other NEOs is impacted by the composition of our NEOs each year.
 
LOGO
 
The Company’s TSR has outperformed its peer group over the past four years. The relationship
between
CAP and Company TSR is influenced by equity compensation. The Company’s stock price has a significant impact on compensation actually paid to our NEOs as a large portion of NEO compensation is equity based. Our
year-end
stock price has fluctuated over the past
f
o
u
r years as follows: $53.29 in 2020, $105.17 in 2021, $54.44 in 2022, and $45.35 in 2023.
     
Compensation Actually Paid vs. Net Income      
LOGO
     
Compensation Actually Paid vs. Company Selected Measure      
LOGO
 
A significant portion of compensation paid to NEOs is based on Company performance. Adjusted EBITDA margin is a performance metric used in both STI and LTI performance payout. Since compensation is directly tied to this measure there is a high degree of correlation between it and compensation. However, CAP is also highly influenced by the Company’s stock price due to the level of equity compensation.
     
Total Shareholder Return Vs Peer Group      
The charts below present the relationship between the PEOs and average other NEOs’ CAP to the Company and peer group total shareholder return, net income, and adjusted EBITDA margin for the previous four years. The graphical representations demonstrate that both the PEOs and average other NEOs CAP is aligned with shareholder and Company performance.
Compensation actually paid to PEOs presented in the charts combine the full year compensation of our three PEOs for the 2020 year even though they only served a partial year. Average compensation paid to other NEOs is impacted by the composition of our NEOs each year.
 
LOGO
 
The Company’s TSR has outperformed its peer group over the past four years. The relationship
between
CAP and Company TSR is influenced by equity compensation. The Company’s stock price has a significant impact on compensation actually paid to our NEOs as a large portion of NEO compensation is equity based. Our
year-end
stock price has fluctuated over the past
f
o
u
r years as follows: $53.29 in 2020, $105.17 in 2021, $54.44 in 2022, and $45.35 in 2023.
     
Tabular List, Table      
The following table lists
the
four unranked financial performance measures that we believe represent the most important financial performance measures we used to link compensation actually paid to our
NEOs
to our performance:
 
 
Most Important Performance Measures
Adjusted EBITDA Margin
Revenue Growth
Adjusted Free Cash Flow Margin
Adjusted
Non-GAAP
Diluted EPS
      
Total Shareholder Return Amount       $ 101.62 122.03 234.54 118.23
Peer Group Total Shareholder Return Amount       147.2 113.39 123.43 112.22
Net Income (Loss)       $ 37,500,000 $ 98,400,000 $ 104,600,000 $ 14,200,000
Company Selected Measure Amount       0.193 0.232 0.246 0.232
Stock Price | $ / shares       $ 45.35 $ 54.44 $ 105.17 $ 53.29
Measure:: 1              
Pay vs Performance Disclosure              
Name       Adjusted EBITDA Margin      
Non-GAAP Measure Description       Adjusted EBITDA margin was selected as the Company-Selected Measure. A detailed adjusted EBITDA margin description and reconciliation can be found within our Q4 2023 earnings release included as Exhibit 99.1 to the Company’s Current Report on Form 8-K furnished with the SEC on February 27, 2024.      
Measure:: 2              
Pay vs Performance Disclosure              
Name       Revenue Growth      
Measure:: 3              
Pay vs Performance Disclosure              
Name       Adjusted Free Cash Flow Margin      
Measure:: 4              
Pay vs Performance Disclosure              
Name       Adjusted Non-GAAP Diluted EPS      
Josef Matosevic [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount       $ 5,715,278 $ 6,544,281 $ 5,331,977 $ 2,227,500
PEO Actually Paid Compensation Amount       4,384,579 1,486,682 10,074,669 2,923,629
PEO Name Josef Matosevic            
Wolfgang Dangel [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount             2,188,050
PEO Actually Paid Compensation Amount             597,049
PEO Name   Wolfgang Dangel          
Tricia Fulton [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount             1,533,991
PEO Actually Paid Compensation Amount             2,078,775
PEO Name     Tricia Fulton        
PEO | Josef Matosevic [Member] | Deduction for value reported in the Stock Awards and Option Awards columns of the SCT [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount       (4,445,378) (4,989,614) (2,135,026) (1,188,548)
PEO | Josef Matosevic [Member] | Addition for yearend fair value of equity awards granted in the current year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount       3,604,146 3,517,429 4,104,868 1,884,677
PEO | Josef Matosevic [Member] | Addition (Deduction) for the change in fair value of equity awards granted in prior years and unvested as of the end of the current year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount       (745,509) (1,918,378) 2,555,350 0
PEO | Josef Matosevic [Member] | Addition (Deduction) for the change in fair value of equity awards granted in prior years and vested during the current year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount       256,042 (1,667,036) 217,500 0
PEO | Josef Matosevic [Member] | Deduction for the fair value as of the prior year end of equity awards deemed to fail to meet the applicable vesting conditions in the current year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount       0 0 0 0
PEO | Wolfgang Dangel [Member] | Deduction for value reported in the Stock Awards and Option Awards columns of the SCT [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount             (950,066)
PEO | Wolfgang Dangel [Member] | Addition for yearend fair value of equity awards granted in the current year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount             0
PEO | Wolfgang Dangel [Member] | Addition (Deduction) for the change in fair value of equity awards granted in prior years and unvested as of the end of the current year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount             0
PEO | Wolfgang Dangel [Member] | Addition (Deduction) for the change in fair value of equity awards granted in prior years and vested during the current year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount             (53,694)
PEO | Wolfgang Dangel [Member] | Deduction for the fair value as of the prior year end of equity awards deemed to fail to meet the applicable vesting conditions in the current year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount             (587,241)
Non-PEO NEO | Deduction for value reported in the Stock Awards and Option Awards columns of the SCT [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount       (578,361) (528,649) (426,655) (493,238)
Non-PEO NEO | Addition for yearend fair value of equity awards granted in the current year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount       464,664 362,285 503,846 571,465
Non-PEO NEO | Addition (Deduction) for the change in fair value of equity awards granted in prior years and unvested as of the end of the current year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount       (21,906) (194,346) 827,017 122,384
Non-PEO NEO | Addition (Deduction) for the change in fair value of equity awards granted in prior years and vested during the current year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount       23,259 (391,830) 326,594 (18,740)
Non-PEO NEO | Deduction for the fair value as of the prior year end of equity awards deemed to fail to meet the applicable vesting conditions in the current year [Member]              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount       $ 0 $ 0 $ (66,036) $ (24,370)