XML 72 R2.htm IDEA: XBRL DOCUMENT v3.23.1
Pay vs Performance Disclosure
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 TABLE

 

               Value of Initial Fixed $100
Investment Based on:
      
Year (a)  Summary
Compensation
Table Total for
PEO ($)
(b)
  Compensation
Actually
Paid to
PEO ($)
(c)
  Average
Summary
Compensation
Total for
Non-PEO
NEOs ($)
(d)
  Average
Compensation
Actually Paid
to Non-PEO
NEOs ($)
(e)
  Total
Shareholder
Return ($)
(f)
  Dow Jones
U.S. Building
Materials
& Fixtures
Index
($)
(g)
  Net
Income
($ 000’s)
(h)
  Operating
Income
($000’s)
(i)
2022      34,994,079      39,921,017      4,286,027      5,542,672      104      74      658,316      877,149
2021  10,841,767  21,073,541  2,482,800  4,483,255  170  144  468,520  655,845
2020  7,233,148  8,624,330  1,729,569  2,019,211  112  126  139,493  245,838

 

Column (b). Reflects compensation amounts reported in the “Summary Compensation Table” for our CEO, Mr. Christopher, for the respective years shown.

 

 Column (c). “Compensation actually paid” to our CEO in each of 2022, 2021 and 2020 reflects the respective amounts set forth in column (b) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules. For awards with dividend rights, these amounts are paid in cash once the underlying award vests, and are incorporated as applicable in the table below. The dollar amounts reflected in column (b) of the above do not reflect the actual amount of compensation earned by or paid to our CEO during the applicable year. For information regarding the decisions made by our Compensation & Personnel Development Committee with respect to the CEO’s compensation for each fiscal year, please see the Compensation Discussion & Analysis sections of the proxy statements reporting pay for the fiscal years covered in the table above.

 

Year  2020  2021  2022  
CEO  Mr. Christopher  Mr. Christopher  Mr. Christopher  
SCT Total Compensation ($)  7,233,148  10,841,767  34,994,079  
Less: Stock and Option Award Values Reported in SCT for the Covered Year $)  (2,220,750) (3,259,125) (25,825,500 )
Plus: Fair Value for Stock and Option Awards Granted in the Covered Year ($)  2,638,875  4,425,375  23,595,500  
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($)  1,152,600  8,483,199  6,564,886  
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)  (179,543) 582,325  592,052  
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)       
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($)       
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($)       
Compensation Actually Paid ($)  8,624,330  21,073,541  39,921,017  

 

 

Equity Valuations: For 2022, performance-based restricted share unit grant date fair values are calculated using the average high/low stock price as of the date of grant assuming maximum performance. For 2021 and 2020, performance-based restricted share unit grant date fair values are calculated using the average high/low stock price as of the date of grant assuming target performance. Adjustments have been made using the stock price and performance accrual modifier as of year-end and as of the date of vest. Time-vested restricted share unit grant date fair values are calculated using the average high/low stock price as of date of grant. Adjustments have been made using the average high/low stock price as of year-end and as of each date of vest.

Column (d). The following non-CEO NEOs are included in the average figures shown for each of 2022, 2021 and 2020: Mr. Martin, Mr. Sigloch and Mr. Miritello.

Column (e). Average “compensation actually paid” for our non-CEO NEOs in each of 2022, 2021 and 2020 reflects the respective amounts set forth in column (d) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules. For awards with dividend rights, these amounts are paid in cash once the underlying award vests, and are incorporated as applicable in the table below. The dollar amounts reflected in column (d) of the above do not reflect the actual amount of compensation earned by or paid to our non-CEO NEOs during the applicable year. For information regarding the decisions made by our Compensation & Personnel Development Committee with respect to our non-CEO NEOs’ compensation for each fiscal year, please see the Compensation Discussion & Analysis sections of the proxy statements reporting pay for the fiscal years covered in the table above.

 

 
Year  2020 Average  2021 Average  2022 Average  
Non-CEO NEOs  See column (d)
note
  See column (d)
note
  See column (d)
note
 
SCT Total Compensation ($)  1,729,569  2,482,800  4,286,027  
Less: Stock and Option Award Values Reported in SCT for the Covered Year $)  (503,370) (753,220) (2,410,888 )
Plus: Fair Value for Stock and Option Awards Granted in the Covered Year ($)  598,118  1,022,753  2,109,505  
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($)  203,627  1,511,873  1,481,643  
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)  (8,733) 219,049  76,385  
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)       
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($)       
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($)       
Compensation Actually Paid ($)  2,019,211  4,483,255  5,542,672  

 

 

Equity Valuations: See method as described in Column (c) note.

Column (f). For the relevant fiscal year, represents the cumulative total shareholder return (TSR) of the Company for the measurement periods ending on December 31, 2022, December 25, 2021 and December 26, 2020, respectively.

Column (g). For the relevant fiscal year, represents the TSR of the Dow Jones U.S. Building Materials & Fixtures index ending on each of December 31, 2022, December 25,2021 and December 26, 2020.

Column (h). Reflects “Net Income” in the Company’s Consolidated Income Statements included in the Company’s Annual Reports for the measurement periods ending on December 31, 2022, December 25, 2021 and December 26, 2020, respectively.

Column (i). The Company-selected measure is operating income.

 

   
Named Executive Officers, Footnote [Text Block]

Column (b). Reflects compensation amounts reported in the “Summary Compensation Table” for our CEO, Mr. Christopher, for the respective years shown.

   
PEO Total Compensation Amount $ 34,994,079 $ 10,841,767 $ 7,233,148
PEO Actually Paid Compensation Amount $ 39,921,017 21,073,541 8,624,330
Adjustment To PEO Compensation, Footnote [Text Block]

 Column (c). “Compensation actually paid” to our CEO in each of 2022, 2021 and 2020 reflects the respective amounts set forth in column (b) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules. For awards with dividend rights, these amounts are paid in cash once the underlying award vests, and are incorporated as applicable in the table below. The dollar amounts reflected in column (b) of the above do not reflect the actual amount of compensation earned by or paid to our CEO during the applicable year. For information regarding the decisions made by our Compensation & Personnel Development Committee with respect to the CEO’s compensation for each fiscal year, please see the Compensation Discussion & Analysis sections of the proxy statements reporting pay for the fiscal years covered in the table above.

 

Year  2020  2021  2022  
CEO  Mr. Christopher  Mr. Christopher  Mr. Christopher  
SCT Total Compensation ($)  7,233,148  10,841,767  34,994,079  
Less: Stock and Option Award Values Reported in SCT for the Covered Year $)  (2,220,750) (3,259,125) (25,825,500 )
Plus: Fair Value for Stock and Option Awards Granted in the Covered Year ($)  2,638,875  4,425,375  23,595,500  
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($)  1,152,600  8,483,199  6,564,886  
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)  (179,543) 582,325  592,052  
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)       
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($)       
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($)       
Compensation Actually Paid ($)  8,624,330  21,073,541  39,921,017  

 

   
Non-PEO NEO Average Total Compensation Amount $ 4,286,027 2,482,800 1,729,569
Non-PEO NEO Average Compensation Actually Paid Amount $ 5,542,672 4,483,255 2,019,211
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

Column (d). The following non-CEO NEOs are included in the average figures shown for each of 2022, 2021 and 2020: Mr. Martin, Mr. Sigloch and Mr. Miritello.

Column (e). Average “compensation actually paid” for our non-CEO NEOs in each of 2022, 2021 and 2020 reflects the respective amounts set forth in column (d) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules. For awards with dividend rights, these amounts are paid in cash once the underlying award vests, and are incorporated as applicable in the table below. The dollar amounts reflected in column (d) of the above do not reflect the actual amount of compensation earned by or paid to our non-CEO NEOs during the applicable year. For information regarding the decisions made by our Compensation & Personnel Development Committee with respect to our non-CEO NEOs’ compensation for each fiscal year, please see the Compensation Discussion & Analysis sections of the proxy statements reporting pay for the fiscal years covered in the table above.

 

 
Year  2020 Average  2021 Average  2022 Average  
Non-CEO NEOs  See column (d)
note
  See column (d)
note
  See column (d)
note
 
SCT Total Compensation ($)  1,729,569  2,482,800  4,286,027  
Less: Stock and Option Award Values Reported in SCT for the Covered Year $)  (503,370) (753,220) (2,410,888 )
Plus: Fair Value for Stock and Option Awards Granted in the Covered Year ($)  598,118  1,022,753  2,109,505  
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years ($)  203,627  1,511,873  1,481,643  
Change in Fair Value of Stock and Option Awards from Prior Years that Vested in the Covered Year ($)  (8,733) 219,049  76,385  
Less: Fair Value of Stock and Option Awards Forfeited during the Covered Year ($)       
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($)       
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($)       
Compensation Actually Paid ($)  2,019,211  4,483,255  5,542,672  

 

   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

Below are graphs showing the relationship of “compensation actually paid” (CAP) to our CEO and other NEOs in 2020, 2021 and 2022 to (i) TSR of both the Company and the Dow Jones U.S. Building Materials & Fixtures index, (ii) the Company’s net income, and (iii) the Company’s operating income.

 

   
Compensation Actually Paid vs. Net Income [Text Block]

 

 

   

 

   
Total Shareholder Return Amount $ 104 170 112
Net Income (Loss) $ 658,316,000 $ 468,520,000 $ 139,493,000
Company Selected Measure Amount 877.149 655.845 245.838
Non-PEO NEO [Member] | Adjustment Type 1 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (2,410,888) $ (753,220) $ (503,370)
Non-PEO NEO [Member] | Adjustment Type 2 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 2,109,505 1,022,753 598,118
Non-PEO NEO [Member] | Adjustment Type 3 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 1,481,643 1,511,873 203,627
Non-PEO NEO [Member] | Adjustment Type 4 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 76,385 219,049 (8,733)
Non-PEO NEO [Member] | Adjustment Type 5 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount
Non-PEO NEO [Member] | Adjustment Type 6 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount
Non-PEO NEO [Member] | Adjustment Type 7 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount
Dow Jones U S Building Material And Fixtures Index [Member]      
Pay vs Performance Disclosure [Table]      
Peer Group Total Shareholder Return Amount $ 74 144 126
Mr Christopher [Member]      
Pay vs Performance Disclosure [Table]      
PEO Name Mr. Christopher    
Mr Christopher [Member] | PEO [Member] | Adjustment Type 1 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (25,825,500) (3,259,125) (2,220,750)
Mr Christopher [Member] | PEO [Member] | Adjustment Type 2 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 23,595,500 4,425,375 2,638,875
Mr Christopher [Member] | PEO [Member] | Adjustment Type 3 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 6,564,886 8,483,199 1,152,600
Mr Christopher [Member] | PEO [Member] | Adjustment Type 4 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 592,052 582,325 (179,543)
Mr Christopher [Member] | PEO [Member] | Adjustment Type 5 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount
Mr Christopher [Member] | PEO [Member] | Adjustment Type 6 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount
Mr Christopher [Member] | PEO [Member] | Adjustment Type 7 [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount
Mr Martin [Member] | Non-PEO NEO [Member]      
Pay vs Performance Disclosure [Table]      
PEO Name Mr. Martin    
Mr Sigloch [Member] | Non-PEO NEO [Member]      
Pay vs Performance Disclosure [Table]      
PEO Name   Mr. Sigloch  
Mr Miritello [Member] | Non-PEO NEO [Member]      
Pay vs Performance Disclosure [Table]      
PEO Name     Mr. Miritello