XML 64 R2.htm IDEA: XBRL DOCUMENT v3.22.4
Pay vs Performance Disclosure
Unit_pure in Thousands
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
Pay Versus Performance Disclosure
In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive “compensation actually paid” (“CAP”) and certain Company performance for the fiscal years listed below. You should refer to our CD&A for a complete description of how executive compensation relates to Company performance and how the Compensation Committee makes its decisions.
($’s in Thousands)
 
               
Year
(1)
 
Summary
Compensation
Table Total
for PEO (2)
   
Compensation 
Actually Paid
to PEO
(3)
   
Average
Summary
Compensation 
Total for
Non-PEO
NEOs
(2)
   
Average
Compensation 
Actually
Paid to
Non-PEO
NEOs
(3)
   
Value of Initial
Fixed $100
Investment
based on:
   
Net
Income/ 
Loss (6)
   
Business Unit
Contribution
(“BUC”) (7)
 
 
Company
TSR (4)
   
Peer
Group TSR
(5)
 
2022
  $ 5,926       ($1,399   $ 1,246       $136     $ 27.34     $ 113.61     ($ 176,431   $ 57,946  
2021
  $ 5,394       $1,521     $ 1,307       $858     $ 72.62     $ 123.67        $2,729     $ 41,858  
2020
  $ 3,793       $5,709     $ 1,113     $ 1,268     $ 78.14     $ 112.44     ($ 21,975   $ 35,177  
(1)
Amounts reported per year include only data reported for the NEOs for the corresponding year.
 
(2)
The amounts reported in this column correspond to the amounts reported in the Company’s Proxy Statement Summary Compensation Table (“SCT”). The PEO in each covered year is Mr. Grasberger. The
non-PEO
NEOs for whom the average compensation is presented in this table are for fiscal 2022, Messrs. Minan, Aga, Hochman, Mitchell, Ms. Kozak, Mr. Stanton, and Ms. Livingston. For 2021, the NEOs include Messrs. Minan, Aga, Hochman, Stanton, and Ms. Livingston. For 2020, the NEOs
include Messrs. Minan, Hochman, Stanton, Ms. Livingston, and Tracey McKenzie. 
 
(3)
PEO and
non-PEO
NEO CAP was calculated as follows:
 
         
    Year    
 
Summary
  Compensation Table  
Total
 
Less:
 Grant Date
  Fair Value per SCT  
Total Pay
 
Additions To
:
  SCT Total Pay (a)  
    
Compensation        
Actually Paid        
 
F. Nicholas Grasberger III, CEO serving as the PEO
         
2022
 
$5,926,007
 
($3,938,251)
 
($3,386,836)
    
($1,399,081)        
         
2021
 
$5,393,717
 
($3,920,447)
 
     $47,772
    
$1,521,043        
         
2020
 
$3,793,021
 
($2,173,365)
 
$4,089,080
    
$5,708,736        
 
Average of Other
Non-PEO
NEO’s
         
2022
 
$1,245,591
 
   ($630,208)
 
   ($479,135)
    
   $136,248        
         
2021
 
$1,307,238
 
   ($612,034)
 
   $162,649
    
   $857,853        
         
2020
 
$1,112,707
 
   ($472,960)
 
   $627,920
    
$1,267,667        
 

  (a)
The additions to the SCT includes the
year-end
Fair Market Value (“FMV”) of the awards granted for the applicable year plus or minus the annual change in the FMV as of the
year-end
for unvested awards granted in prior years as well as plus or minus the change in the FMV as of the date of vesting for awards vested in each applicable year versus the ending stock price of the prior year. The FMV of each PSU grant was estimated on the measurement date using a Monte Carlo pricing model and is reported on the table below. In addition, the FMV for each SAR grant was estimated on the measurement date using a Black Scholes pricing model; details noted below.
 
           
Performance Share Units
               
           
Measurement  
Dates
 
12/31/2019
 
12/31/2020
 
12/31/2021
 
12/31/2022
 
At Vesting
                     
Award Grant  
Date
 
Fair
Value
Price
 
Stock
Price @
Valuation
Date
 
Fair
Value
Price
 
Stock
Price @
Valuation
Date
 
Fair
Value
Price
 
Stock
Price @
Valuation
Date
 
Fair
Value
Price
 
Stock
Price @
Valuation
Date
 
Vesting
Date
 
Stock
Price 
(i)
3/2/2018   $35.24   $23.01  
 
 
 
 
 
 
 
 
 
 
 
  12/31/2020   $17.98
7/30/2018   $35.24   $23.01  
 
 
 
 
 
 
 
 
 
 
 
  12/31/2020   $17.98
3/6/2019   $25.78   $23.01   $15.71   $17.98  
 
 
 
 
 
 
 
  12/31/2021   $16.71
3/10/2020  
 
 
 
  $20.69   $17.98   $6.48   $16.71  
 
 
 
  12/31/2022   $6.29
10/19/2020  
 
 
 
  $20.69   $17.98   $6.48   $16.71  
 
 
 
 
 
 
 
3/1/2021  
 
 
 
 
 
 
 
  $19.52   $16.71   $1.26   $6.29  
 
 
 
3/4/2022  
 
 
 
 
 
 
 
 
 
 
 
  $3.58   $6.29  
 
 
 
 

           
       
Stock Appreciation Rights
           
               
Grant Date
(ii)
 
  Measurement  
Date
 
Stock Price
At
Measurement
Date
 
Strike
Price
 
Risk
Free
Rate
 
Volatility
 
Expected
Life
 
Black
Scholes
Fair Value
3/3/2017   12/31/2019   $23.01   $13.70   1.64%   45.64%   3.68   $12.29
3/3/2017   3/3/2020   $11.40   $13.70   0.75%   55.49%   4.15   $4.39
3/2/2018   12/31/2019   $23.01   $19.80   1.66%   53.19%   4.42   $11.24
3/2/2018   3/2/2020   $12.18   $19.80   0.92%   51.43%   5.71   $4.22
3/2/2018   12/31/2020   $17.98   $19.80   0.27%   61.39%   4.03   $7.90
3/2/2018   3/2/2021   $17.02   $19.80   0.47%   62.83%   4.05   $7.45
7/30/2018   12/31/2019   $23.01   $24.65   1.69%   51.20%   5.11   $10.17
7/30/2018   7/30/2020   $15.83   $24.65   0.28%   61.33%   5.59   $6.82
7/30/2018   12/31/2020   $17.98   $24.65   0.38%   63.67%   5.14   $8.25
7/30/2018   7/30/2021   $20.12   $24.65   0.56%   61.85%   4.21   $8.60
3/6/2019   12/31/2019   $23.01   $22.51   1.70%   50.99%   5.18   $10.80
3/6/2019   3/6/2020   $10.29   $22.51   0.69%   47.34%   7.21   $2.97
3/6/2019   12/31/2020   $17.98   $22.51   0.40%   63.37%   5.27   $8.72
3/6/2019   3/6/2021   $16.95   $22.51   0.81%   64.52%   5.10   $8.08
3/6/2019   12/31/2021   $16.71   $22.51   1.21%   61.11%   4.69   $7.19
3/6/2019   3/6/2022   $12.65   $22.51   1.65%   61.30%   5.20   $5.01
3/10/2020   12/31/2020   $17.98   $10.29   0.39%   63.45%   5.19   $11.86
3/10/2020   3/10/2021   $18.10   $10.29   0.68%   61.17%   4.50   $11.44
3/10/2020   12/31/2021   $16.71   $10.29   1.18%   61.69%   4.44   $10.34
3/10/2020   3/10/2022   $13.46   $10.29   1.89%   65.65%   4.00   $7.74
3/10/2020   12/31/2022   $6.29   $10.29   3.95%   64.86%   5.21   $2.98
10/19/2020   12/31/2020   $17.98   $14.89   0.48%   61.60%   5.80   $10.62
10/19/2020   10/19/2021   $16.97   $14.89   1.05%   61.00%   4.50   $8.96
10/19/2020   12/31/2021   $16.71   $14.89   1.26%   59.97%   5.05   $9.09
10/19/2020   10/19/2022   $4.51   $14.89   4.07%   63.01%   7.10   $1.85
10/19/2020   12/31/2022   $6.29   $14.89   3.93%   61.42%   6.55   $2.73
3/1/2021   12/31/2021   $16.71   $18.58   1.31%   59.08%   5.62   $8.49
3/1/2021   3/1/2022   $12.01   $18.58   1.62%   63.29%   6.27   $5.99
3/1/2021   12/31/2022   $6.29   $18.58   3.92%   63.66%   7.18   $2.78
3/4/2022   12/31/2022   $6.29   $12.65   3.91%   63.45%   7.41   $3.34
 
  (i)
Stock Prices reported equal the company’s
year-end
stock price for the vesting dates noted.
  (ii)
The March 2020 grant FMV was estimated on measurement date using a Monte Carlo simulation because exercise price is greater than the FMV of Harsco Common Stock on the grant date.
 
(4)
Harsco’s and the peer group’s Total Stockholders Return (“TSR”) is based on investing $100 on December 31, 2019.
 
(5)
The peer group utilized is the Dow Jones US Diversified Industrials.
 
(6)
Amounts reflect the Net Income (Loss) of the Company as reported in the Form
10-K
Annual Report for the corresponding fiscal years of 2022, 2021 and 2020.
 
(7)
Amounts reflect the adjusted BUC as reported in the Company’s Proxy Statement for the years 2022, 2021 and 2020. For further details, please refer to the “AIP Performance Metrics and Payouts” section in the CD&A.
   
Company Selected Measure Name BUC    
Named Executive Officers, Footnote [Text Block]
The amounts reported in this column correspond to the amounts reported in the Company’s Proxy Statement Summary Compensation Table (“SCT”). The PEO in each covered year is Mr. Grasberger. The
non-PEO
NEOs for whom the average compensation is presented in this table are for fiscal 2022, Messrs. Minan, Aga, Hochman, Mitchell, Ms. Kozak, Mr. Stanton, and Ms. Livingston. For 2021, the NEOs include Messrs. Minan, Aga, Hochman, Stanton, and Ms. Livingston. For 2020, the NEOs
include Messrs. Minan, Hochman, Stanton, Ms. Livingston, and Tracey McKenzie. 
   
Peer Group Issuers, Footnote [Text Block] The peer group utilized is the Dow Jones US Diversified Industrials.    
PEO Total Compensation Amount $ 5,926,007 $ 5,393,717 $ 3,793,021
PEO Actually Paid Compensation Amount $ (1,399,081) 1,521,043 5,708,736
Adjustment To PEO Compensation, Footnote [Text Block]
 
(3)
PEO and
non-PEO
NEO CAP was calculated as follows:
 
         
    Year    
 
Summary
  Compensation Table  
Total
 
Less:
 Grant Date
  Fair Value per SCT  
Total Pay
 
Additions To
:
  SCT Total Pay (a)  
    
Compensation        
Actually Paid        
 
F. Nicholas Grasberger III, CEO serving as the PEO
         
2022
 
$5,926,007
 
($3,938,251)
 
($3,386,836)
    
($1,399,081)        
         
2021
 
$5,393,717
 
($3,920,447)
 
     $47,772
    
$1,521,043        
         
2020
 
$3,793,021
 
($2,173,365)
 
$4,089,080
    
$5,708,736        
 
Average of Other
Non-PEO
NEO’s
         
2022
 
$1,245,591
 
   ($630,208)
 
   ($479,135)
    
   $136,248        
         
2021
 
$1,307,238
 
   ($612,034)
 
   $162,649
    
   $857,853        
         
2020
 
$1,112,707
 
   ($472,960)
 
   $627,920
    
$1,267,667        
   
Non-PEO NEO Average Total Compensation Amount $ 1,245,591 1,307,238 1,112,707
Non-PEO NEO Average Compensation Actually Paid Amount $ 136,248 857,853 1,267,667
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
 
(3)
PEO and
non-PEO
NEO CAP was calculated as follows:
 
         
    Year    
 
Summary
  Compensation Table  
Total
 
Less:
 Grant Date
  Fair Value per SCT  
Total Pay
 
Additions To
:
  SCT Total Pay (a)  
    
Compensation        
Actually Paid        
 
F. Nicholas Grasberger III, CEO serving as the PEO
         
2022
 
$5,926,007
 
($3,938,251)
 
($3,386,836)
    
($1,399,081)        
         
2021
 
$5,393,717
 
($3,920,447)
 
     $47,772
    
$1,521,043        
         
2020
 
$3,793,021
 
($2,173,365)
 
$4,089,080
    
$5,708,736        
 
Average of Other
Non-PEO
NEO’s
         
2022
 
$1,245,591
 
   ($630,208)
 
   ($479,135)
    
   $136,248        
         
2021
 
$1,307,238
 
   ($612,034)
 
   $162,649
    
   $857,853        
         
2020
 
$1,112,707
 
   ($472,960)
 
   $627,920
    
$1,267,667        
   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]
CAP and Cumulative TSR / Cumulative TSR of the Peer Group
 
 

 
   
Compensation Actually Paid vs. Net Income [Text Block]
CAP and Company N
et
Inc
om
e
 
 

   
Compensation Actually Paid vs. Company Selected Measure [Text Block]
CAP and
BU
C
For more information about BUC, please refer to the “AIP Performance Metrics and Payout” section in the
CD
&A.
 
 

 
   
Total Shareholder Return Vs Peer Group [Text Block]
CAP and Cumulative TSR / Cumulative TSR of the Peer Group
 
 

 
   
Tabular List [Table Text Block]
Tabular List of Most Important Financial Performance Measures
In our assessment, the most important financial performance measures used to link CAP (as calculated in accordance with the SEC rules), to our NEOs in 2022 to our performance were:
 
Tabular List of Most Important Financial Measures
Used for Determining NEO Pay
 
Business Unit Contribution
– (“BUC”)
 
Relative Total Stockholder Return
– (“rTSR”)
   
Total Shareholder Return Amount $ 27,340 72,620 78,140
Peer Group Total Shareholder Return Amount 113,610 123,670 112,440
Net Income (Loss) $ (176,431,000) $ 2,729,000 $ (21,975,000)
Company Selected Measure Amount 57,946 41,858 35,177
PEO Name Mr. Grasberger    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Business Unit Contribution – (“BUC”)    
Non-GAAP Measure Description [Text Block]
Amounts reflect the adjusted BUC as reported in the Company’s Proxy Statement for the years 2022, 2021 and 2020. For further details, please refer to the “AIP Performance Metrics and Payouts” section in the CD&A.
   
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Relative Total Stockholder Return – (“rTSR”)    
PEO [Member] | Less: Grant Date Fair Value per SCT Total Pay [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (3,938,251) $ (3,920,447) $ (2,173,365)
PEO [Member] | Additions: To SCT Total Pay [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (3,386,836) 47,772 4,089,080
Non-PEO NEO [Member] | Less: Grant Date Fair Value per SCT Total Pay [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (630,208) (612,034) (472,960)
Non-PEO NEO [Member] | Additions: To SCT Total Pay [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (479,135) $ 162,649 $ 627,920