Definitive proxy statements

Pay vs Performance Disclosure

v3.23.3
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Aug. 31, 2023
Aug. 31, 2022
Aug. 31, 2021
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table
Value of Initial Fixed $100 Investment Based on:
Fiscal Year
Summary Compensation Table Total for First PEO(1)
Summary Compensation Table Total for Second PEO(2)
Compensation Actually Paid to First
PEO(3)
Compensation Actually Paid to Second PEO(3)
Average Summary Compensation Table Total for Non-PEO NEOs(4)
Average Compensation Actually Paid to Non-PEO NEOs(3)
Total Shareholder Return(5)
Peer Group Total Shareholder Return(6)
Net Income(7)
Adjusted EBITDA(8)
($) ($) ($) ($) ($) ($) ($) ($) (h) (i)
(a) (b) (b) (c) (c) (d) (e) (f) (g) ($ in thousands)
2023 N/A 9,608,505 N/A 11,699,671 1,171,205 1,405,400 126.71 126.40 46,561 136,343
2022 525,459 6,913,269 (52,920) 6,687,110 1,181,201 1,041,667 93.64 120.78 15,686 82,828
2021 4,481,386 N/A 5,931,625 N/A 1,141,200 1,376,759 121.22 147.08 38,077 74,692
   
Company Selected Measure Name adjusted EBITDA    
Named Executive Officers, Footnote Randal W. Baker served as President and Chief Executive Officer during all of fiscal 2021 and in fiscal 2022 until October 8, 2021 and is identified as First PEO in the table. The negative amount of compensation actually paid reported for fiscal 2022 reflects a decline in the value of outstanding equity awards in that fiscal year and the forfeiture of certain awards in that year as a result of his departure.Paul E. Sternlieb has served as Chief Executive Officer since October 8, 2021 and is identified as Second PEO in the table.    
Adjustment To PEO Compensation, Footnote "Compensation actually paid" to our Named Executive Officers represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year (“Applicable FY”), as adjusted per SEC rules as follows:
Adjustments 2021 2022 2023
First PEO Average Non-PEO NEOs First PEO Second PEO Average Non-PEO NEOs Second PEO Average Non-PEO NEOs
($) ($) ($) ($) ($) ($) ($)
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY (3,308,568) (578,624) (216,740) (5,057,747) (562,899) (6,999,985) (307,397)
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End 3,533,524 582,238 — 4,831,588 325,530 7,470,959 318,298
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date — — 225,558 — 161,886 — 27,335
Increase/deduction for Awards Granted during Prior Fiscal Year that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior Fiscal Year End to Applicable FY End 597,724 152,210 (1,333,315) — (105,339) 1,462,863 81,560
Increase/deduction for Awards Granted during Prior Fiscal Year that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior Fiscal Year End to Vesting Date 633,949 85,373 1,127,315 — 111,757 154,773 130,820
Deduction of ASC 718 Fair Value of Awards Granted during Prior Fiscal Year that were Forfeited during Applicable FY, determined as of Prior Fiscal Year End — (4,927) (388,383) — (71,402) — (16,941)
Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date 4,453 916 7,186 — 932 2,556 519
Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” Column of the Summary Compensation Table for Applicable — — — — — — —
TOTAL ADJUSTMENTS 1,450,239  235,559  (578,379) (226,159) (139,533) 2,091,166  234,195 
   
Non-PEO NEO Average Total Compensation Amount $ 1,171,205 $ 1,181,201 $ 1,141,200
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,405,400 1,041,667 1,376,759
Adjustment to Non-PEO NEO Compensation Footnote "Compensation actually paid" to our Named Executive Officers represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year (“Applicable FY”), as adjusted per SEC rules as follows:
Adjustments 2021 2022 2023
First PEO Average Non-PEO NEOs First PEO Second PEO Average Non-PEO NEOs Second PEO Average Non-PEO NEOs
($) ($) ($) ($) ($) ($) ($)
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY (3,308,568) (578,624) (216,740) (5,057,747) (562,899) (6,999,985) (307,397)
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End 3,533,524 582,238 — 4,831,588 325,530 7,470,959 318,298
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date — — 225,558 — 161,886 — 27,335
Increase/deduction for Awards Granted during Prior Fiscal Year that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior Fiscal Year End to Applicable FY End 597,724 152,210 (1,333,315) — (105,339) 1,462,863 81,560
Increase/deduction for Awards Granted during Prior Fiscal Year that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior Fiscal Year End to Vesting Date 633,949 85,373 1,127,315 — 111,757 154,773 130,820
Deduction of ASC 718 Fair Value of Awards Granted during Prior Fiscal Year that were Forfeited during Applicable FY, determined as of Prior Fiscal Year End — (4,927) (388,383) — (71,402) — (16,941)
Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date 4,453 916 7,186 — 932 2,556 519
Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” Column of the Summary Compensation Table for Applicable — — — — — — —
TOTAL ADJUSTMENTS 1,450,239  235,559  (578,379) (226,159) (139,533) 2,091,166  234,195 
This amount is the average of the total compensation, as calculated in accordance with the presentation of Total compensation in the Summary Compensation Table appearing on page 31, of the Non-NEO PEOs in each year. The following table lists the individuals who comprise the Non-PEO NEOs in each of the covered years:
Fiscal 2023 Fiscal 2022 Fiscal 2021
Anthony P. Colucci
Anthony P. Colucci
Barbara G. Bolens
Rick T. Dillon
Benjamin J. Topercer
Benjamin J. Topercer
Scott M. Vuchetich
John Jeffrey Schmaling
James P. Denis
Rick T. Dillon
Bryan R. Johnson
Fabrizio Rasetti
Markus Limberger
John Jeffrey Schmaling
Fabrizio Rasetti
Barbara G. Bolens
Barbara G. Bolens
   
Compensation Actually Paid vs. Total Shareholder Return
Relationship of Executive Compensation Actually Paid to TSR.jpg
    
Compensation Actually Paid vs. Net Income
Relationship of Executive Compensation Actually Paid to Net Income.jpg
    
Compensation Actually Paid vs. Company Selected Measure
Relationship of Executive Compensation Actually Paid to Adjusted EBITDA.jpg
    
Total Shareholder Return Vs Peer Group
Relationship of Executive Compensation Actually Paid to TSR.jpg
    
Total Shareholder Return Amount $ 126.71 93.64 121.22
Peer Group Total Shareholder Return Amount 126.40 120.78 147.08
Net Income (Loss) $ 46,561 $ 15,686 $ 38,077
Company Selected Measure Amount 136,343 82,828 74,692
Additional 402(v) Disclosure Represents the company’s TSR for the period beginning on the last trading day of the year preceding the earliest year presented in the table and ending the last trading day of the covered year, which includes the reinvestment of dividends paid on our common stock during the relevant period.Represents the TSR for the period beginning on the last trading day of the year preceding the earliest year presented in the table and ending the last trading day of the covered year, which includes dividends paid during the relevant period, of the common stock of the companies included in the Russell 2000 Index.Represents net income of Enerpac and its subsidiaries on a consolidated basis, which includes the results of discontinued operations in each of the periods presented.The Company selected measure is adjusted EBITDA, which is a measure used in the annual cash incentive plan. Adjusted EBITDA is the Company’s earnings before interest, income tax, depreciation and amortization expenses, adjusted by adding selected expenses that the Talent Development and Compensation Committee believes do not reflect normal operating conditions and subtracting certain selected income items that the Talent Development and Compensation Committee believes do not reflect normal operating conditions. Adjusted EBITDA is calculated in a manner consistent with adjusted EBITDA as presented by the Company in its quarterly and annual earnings announcements, with additional adjustments to exclude annual incentive compensation expense and for certain items selected by the Talent Development and Compensation Committee that it believes do not reflect normal operating conditions.    
Paul E. Sternlieb [Member]      
Pay vs Performance Disclosure      
PEO Total Compensation Amount $ 9,608,505 $ 6,913,269  
PEO Actually Paid Compensation Amount 11,699,671 6,687,110  
Randal W. Baker [Member]      
Pay vs Performance Disclosure      
PEO Total Compensation Amount   525,459 $ 4,481,386
PEO Actually Paid Compensation Amount   (52,920) 5,931,625
PEO | Paul E. Sternlieb [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,091,166 (226,159)  
PEO | Paul E. Sternlieb [Member] | Stock Awards and Option Awards Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (6,999,985) (5,057,747)  
PEO | Paul E. Sternlieb [Member] | Equity Awards Granted in Current Year, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 7,470,959 4,831,588  
PEO | Paul E. Sternlieb [Member] | Equity Awards Granted in Current Year, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0  
PEO | Paul E. Sternlieb [Member] | Equity Awards Granted in Prior Years, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,462,863 0  
PEO | Paul E. Sternlieb [Member] | Equity Awards Granted in Prior Years, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 154,773 0  
PEO | Paul E. Sternlieb [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0  
PEO | Paul E. Sternlieb [Member] | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,556 0  
PEO | Paul E. Sternlieb [Member] | Change in Pension Value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 0  
PEO | Randal W. Baker [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   (578,379) 1,450,239
PEO | Randal W. Baker [Member] | Stock Awards and Option Awards Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   (216,740) (3,308,568)
PEO | Randal W. Baker [Member] | Equity Awards Granted in Current Year, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   0 3,533,524
PEO | Randal W. Baker [Member] | Equity Awards Granted in Current Year, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   225,558 0
PEO | Randal W. Baker [Member] | Equity Awards Granted in Prior Years, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   (1,333,315) 597,724
PEO | Randal W. Baker [Member] | Equity Awards Granted in Prior Years, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   1,127,315 633,949
PEO | Randal W. Baker [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   (388,383) 0
PEO | Randal W. Baker [Member] | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   7,186 4,453
PEO | Randal W. Baker [Member] | Change in Pension Value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount   0 0
Non-PEO NEO      
Pay vs Performance Disclosure      
Tabular List, Table
We have listed below the four performance measures that represent the most important metrics we used to link Compensation Actually Paid to our NEOs for 2023 to Company performance:
•Adjusted EBITDA
•Core Sales Growth
•Adjusted EBITDA Margin; and
•Free Cash Flow Conversion.
   
Adjustment to Compensation, Amount $ 234,195 (139,533) 235,559
Non-PEO NEO | Measure:: 1      
Pay vs Performance Disclosure      
Name Adjusted EBITDA    
Non-PEO NEO | Measure:: 2      
Pay vs Performance Disclosure      
Name Core Sales Growth    
Non-PEO NEO | Measure:: 3      
Pay vs Performance Disclosure      
Name Adjusted EBITDA Margin    
Non-PEO NEO | Measure:: 4      
Pay vs Performance Disclosure      
Name Free Cash Flow Conversion    
Non-PEO NEO | Stock Awards and Option Awards Adjustments [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ (307,397) (562,899) (578,624)
Non-PEO NEO | Equity Awards Granted in Current Year, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 318,298 325,530 582,238
Non-PEO NEO | Equity Awards Granted in Current Year, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 27,335 161,886 0
Non-PEO NEO | Equity Awards Granted in Prior Years, Unvested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 81,560 (105,339) 152,210
Non-PEO NEO | Equity Awards Granted in Prior Years, Vested [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 130,820 111,757 85,373
Non-PEO NEO | Equity Awards that Failed to Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (16,941) (71,402) (4,927)
Non-PEO NEO | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 519 932 916
Non-PEO NEO | Change in Pension Value [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 $ 0 $ 0