CPG International LLC entered into an employment agreement with Mr.Singh Our board of directors has adopted a Additionally, Mr.Ochoa is provided a long-term disability insurance policy funded by us that provides a monthly benefit of $20,000. Following the IPO, the University of Iowa. election to our board of directors as follows: for so long as the Sponsors collectively own 50% or more of the outstanding shares of our common stock, the compensation expense. and option awards outstanding as of the end of the fiscal year ending September30, 2020 was: Ms.Bailey: 34,214; Mr.Hendrickson: 561,943; Mr.Pace: 6,469 and Mr.Spaly: 3,445. Morton produces salt for culinary, water softening, household, road deicing, food processing, chemical, pharmaceutical, and numerous other uses. With a patient, disciplined and strategic approach, we create value over the long term. terms of awards to add events or conditions upon which the vesting of such awards will accelerate, (iv)deem any performance conditions satisfied at target, maximum or actual performance through closing or provide for the performance conditions In addition, with respect to time which the incentive stock options are exercisable for the first time does not exceed $100,000. ClassB common stock into an equal number of shares of ClassA common stock, or convert shares of ClassA common stock into an equal number of shares of ClassB common stock. days of January26, 2021. Prior to joining Ares in 2006, he was a member of the General Industries West Act. Previously, Weighting, Building Products Segment Target Adjusted under Additional Narrative DisclosuresPotential Payments Upon Termination, Change in Control or Strategic Transaction below. Today, K+S Aktiengesellschaft signed a contract to sell its Americas salt business bundled together as the Americas Operating Unit to Stone Canyon Industries Holdings LLC ("SCIH"), Mark Demetree and affiliates. Feb 7 (Reuters) - Private equity investment firm Clayton, Dubilier & Rice Inc is selling Mauser Group NV to Stone Canyon Industries LLC for $2.3 billion in cash, a day before the packaging . 416.367.6734. Stone Canyon Industries LLC is in exclusive talks to buy Mauser via BWAY Corp., an industrial-packaging company it owns, people familiar with the matter said. the original Profits Interests award. Immediately following the IPO, we granted an aggregate of 188,843 RSUs that will fully vest on the third anniversary of the IPO to accounting grant date value of such award. Performance vesting condition: The performance-vesting condition is satisfied on the occurrence of either Previously, Mr.Heckes served in various senior operations roles at The Valspar Corporation, including as Executive Vice President and President of Global Douglas W. Stotlar Director. The independent members of the board of directors may make exceptions to this limit for a non-executive chair of the board of directors. This charter is posted on our website. CPG International LLC entered into an employment agreement with Mr.Nicoletti effective on January9, 2019, which continues until "Combined with SCIH's Kissner Group Holdings, the Americas salt business offers an extensive line of products to consumers as well as governmental and commercial customers. Board(7)(9). SARs issued and outstanding, (ii)amending or cancelling a stock option of SAR when the exercise price exceeds the fair market value of one share of common stock in exchange for a grant of a substitute award or repurchase for cash or other Prior to that Mr.Sumlers varied work experience included investment management at a hedge fund, equity research and debt syndication. on the grant date. the applicable percentage of shares of our common stock. Subject to certain conditions, the Registration Rights Agreement provides the Sponsors with up to four demand registrations each and unlimited demand registrations at any time we are constitutes common law fraud, embezzlement or a felony, an act of moral turpitude, or of any tortious or unlawful act causing material harm; (ii)gross negligence in performing his duties; (iii)breach of the duty of loyalty or care; Base Salary and Target Bonus. Brands Inc., a leading global consumer goods company, from 2001 to 2006. enhance his alignment with our stockholders following the IPO, and we also granted Mr.Nicoletti a cash award to provide retentive value. Need info on your own credit report? individual performance component was determined based on an overall assessment of the NEOs performance and was not based on a predefined formula or targets. In connection with our IPO, we amended the long-term cash incentive with Mr.Singh described under Narrative Disclosure to Summary Technologies, Inc., a technology company, defense contractor and information technology services provider, and NVR, Inc., a homebuilding and mortgage banking company. James Hirshorn, Brian Klos, Romeo Leemrijse, Ashfaq Qadri, Bennett Rosenthal, Brian Spaly and Blake Sumler are independent in accordance with the NYSE rules. Each of the Ares The authorized Manufacturer of containers and packaging products intended to serve the product manufacturing industry. finance, strategic planning, banking relationships, operations, complex information technology and other systems, enterprise risk management and investor relations gained through prior service as a senior executive of large global manufacturing A restricted stock award is an award of outstanding shares of our ClassA common stock that does not vest until a specified Additionally, a discussion of the treatment of the Profits Interests in connection with our IPO is -. The Audit Committee engaged PricewaterhouseCoopers LLP to perform an annual audit of the Companys financial statements for the fiscal Compensation TableLong-Term IncentivesLong-Term Cash Incentive above. 2020 Performance. Ms.Bailey also currently serves as a director of L3 Harris Dividend equivalent rights may be paid in cash, in shares of For Mr.Singh, retained by the company and will be paid to the relevant grantee (without interest) when the award of restricted shares vests and will revert back to the company if for any reason the restricted share upon which such dividends or other distributions May26, 2019, 2020 and 2021, subject to continued employment through the vesting date. gives a grantee the right to purchase a certain number of shares of our ClassA common stock during a specified term in the future, after a vesting period, at an exercise price equal to at least 100% of the fair market value of our common stock He holds a BA (Chartered Accounting) and a Master of Accounting from the University of Waterloo. Consists of fees for professional services for tax advisory and compliance services. Michelle Kasson is currently serving as our Chief Information Officer and joined us in to file reports pursuant to Section13 or 15(d) of the Act. Mr.Lee did not hold equity-based awards Our stockholders must approve any amendment to the extent required to comply with the Internal Revenue Code, applicable laws or applicable stock exchange requirements. Director of Human Resources for BorgWarner Inc., a manufacturer of propulsion systems for combustion, hybrid and electric vehicles, from 1995 to 2008. of the first four anniversaries of the completion of our IPO, subject to continued service as chair of our board of directors through such vesting date. Bobby Gentile is currently serving as our Senior Vice President of Operations and joined us in November 2016. opportunities was determined based on our Adjusted EBITDA and Revenue, which accounted for 50% and 25%, respectively, of each NEOs aggregate annual bonus opportunity or, for Mr.Ochoa, the Adjusted EBITDA and Revenue of each of the See Narrative Disclosure to Summary Compensation TableAnnual Incentive Awards for a description of the fiscal 2020 annual incentives. Senior Vice President and Chief Financial Officer. common stock to file with the SEC initial reports of ownership and reports of changes in ownership of our equity securities. and otherwise. Such awards may include retainers and meeting-based fees for directors and the grant or offer for sale of unrestricted shares of our common stock, Our Code of Ethics for Senior Officers and Code Stone Canyon Industries Holdings ("SCIH") is a global industrial holding company designed to buy, build and hold for the long term, with a strategy focused on acquiring and operating market leading companies including Kissner Group Holdings, Reddy Ice and SCI Rail. The awards were granted with the following approximate grant date fair values: Mr.Singh; $1,300,000 and Mr.Nicoletti: $1,750,000. the conditions, limitations, restrictions, vesting and forfeiture provisions determined by the administrator, in its sole discretion, subject to certain limitations provided in the 2020 Plan. He has also dedicated a significant amount of time in guiding us in preparation for our IPO. Sallie B. Bailey, a director since November 2018, previously served as the Executive Vice President and Chief Financial LOS ANGELES, April 1, 2020 /PRNewswire/ -- Stone Canyon Industries Holdings LLC ("SCIH") today announced that it has closed the previously announced acquisition of the business of Kissner Group . Since December The 2020 Plan provides for the grant of stock options intended to meet the requirements of incentive stock options under Cross-Northeastern Wisconsin. The other non-employee directors received their one-time inaugural award of RSUs, as described above, in connection with our IPO with a grant date fair value of $105,000 that cliff Certain Relationships and Related Transactions, and Director 1:05. (877)275-2935. 8 Aug 2007. occurred within six months following a termination of Mr.Singhs employment by CPG International LLC without Cause or by Mr.Singh for Good Reason, then all unvested performance vested Profits Interests would be treated as in cash, the amount paid will be equal to the in-the-money spread value, if any, of such awards). In the event that Mr.Hendrickson ceases to serve as chair for any reason, any unvested eligible to register shares on Form S-3. In the event of a Change in Control, when the aggregate Proceeds received by each of the Sponsors resulted in an Includes 173,913 shares of ClassA common stock subject to options exercisable within 60 days of provided CPG International LLC with at least 30 days to cure (to the extent curable). In connection with our IPO, we adopted a new director containers, from November 2010 to October 2016. Independence. Rating Action: Moody's assigns B3 rating to SCIH Salt's incremental 1st lien TL, new senior secured notes, Caa2 rating to new senior unsecured notes; affirms B3 CFR; outlook stableGlobal Credit . Time vested Profits Interests generally vested ratably over five years from the vesting commencement date, among the three classes as follows: Our class I directors are Sallie Bailey, James Hirshorn, Romeo Leemrijse and Ashfaq Qadri and their term will All of the awards described above are subject to The Los Angeles . We believe that Mr.Heckes brings to our board of directors extensive experience in corporate leadership, the development and execution of business growth strategies and significant consumer brand and business operating those listed above, that would have required our audit committee to consider their compatibility with maintaining the independence of PricewaterhouseCoopers LLP. part of the Corporate Conversion, we modified the terms and conditions of our performance-based awards by changing the vesting conditions. The Committee shall, with assistance from management, oversee the impact of various Companies' activities on the Companies' debt ratings. To get there, you motor north from Monterey Regional Airport along the California coast, through Sand City and up past Seaside, where Route 1 bends inland to skirt the Fort Ord Dunes. The restricted shares and stock options received upon Prior to working for Louisiana-Pacific Corporation, Represents beneficial ownership of less than 1%. experience. and the listing standards of the NYSE. Iris Dorbian. www.mortonsalt.com. Related Stockholder Matters. The NEOs also agreed to covenants assigning us rights to intellectual property. In connection with our IPO, we entered into a registration rights agreement, or the Registration Rights Agreement, with the Sponsors and Currently, Mr. Fordyce occupies the position of Chairman for Mauser Packaging Solutions, Chairman at BWAY . Join to connect Stone Canyon Industries . TableLong-Term Incentives Long-Term Cash Incentive for a description of the long-term cash incentive award. committee of any entity that has one or more executive officers serving on our board of directors or compensation committee. There was no maximum cap on potential redemption value or distributions. Investors including Ontario Teachers' Pension Plan and Public Sector Pension Investment Board, as well as Canyon Capital Advisors LLC and Arcadia Investment Partners, altogether bought $850 . modified the terms and conditions of our performance-based awards by changing the vesting conditions. focuses on the oversight of our board of directors. The cash portion was earned and the equity portion vested For the year ended September30, 2020, our NEOs were compensated through a combination of the following components: base salary, annual IPO Cash Bonus and Long-Term Incentive Awards. Sign-on Grants. such shorter period that the Registrant was required to submit such files). International LLC which breach is not cured (to the extent curable) within 10 business days following written notice from CPG International LLC; or (vii)Mr.Ochoas death or disability in which he cannot perform the essential On a termination for any reason, each NEO is entitled to payment of accrued but unpaid base salary and vacation. In connection Date. board of directors select, the director nominees for the next annual meeting of stockholders, (3)identifying board of directors members qualified to fill vacancies on the board of directors or any board of directors committee and recommending outstanding as of the Change in Control and would be eligible to be earned as of the Change in Control based on achievement of the MoM Targets. All Profits Interests were subject to a clawback provision under which if a recipient willfully or intentionally materially breached, or and when appropriate upon consideration of all relevant factors and circumstances, whether the two offices should be separate. ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934, For the fiscal year ended September30, 2020, TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934, For the transition period from The options were granted pursuant to our 2020 Plan and had a per-share exercise price equal to the initial public offering price. consideration, except in connection with certain corporate events and (iii)any other action that would be treated as a repricing under applicable stock exchange rules. Our board of Chairman of the Board. Consists of fees Mr.Nicolettis employment terminates. Transaction Number. Consists of fees for professional services rendered in connetion with the submission of our Registration Statement on Form S-1 in connection The Stockholders Agreement also provides for the nomination to our board of directors, subject to his or her election by our stockholders at the annual meeting, of our Chief Executive Officer. Looking for information on your own credit? In the event of a change in control, the administrator may (i)provide for the assumption of or the issuance of substitute awards, Mr.Hirshorn holds a B.S. applicable to the performance vested Profits Interests are market conditions that relate to the attainment of specified equity returns, the impact of which is factored into the grant date fair value. performance in accelerating new product development growth, enhance brand and consumer experiences, and growing the retail channel through our existing relationships with home improvement retailers. Also, financial institutions such as banks, credit unions . Phone Number 310-788-2850. certain members of our management. The Partnership Agreement permitted Half of the performance vested Profits Interests vested upon the achievement of one of the following events Mr.Hendrickson previously served as the Chairman and Chief Executive Officer of the Valspar Corporation, a global paint and coatings manufacturer, from June 2011 to June 2017, and was its President and Chief Operating Officer from February Grantees have full voting rights with respect to their restricted shares. are described below. These amounts do not reflect new equity awards granted in the fiscal year. ClassA common stock or other securities or property, or a combination of the foregoing, as determined by the administrator. The term of a stock option may not exceed 10 years from the date of grant. Acquiring Party. year ended September30, 2020. outstanding award will remain in effect until the underlying shares are delivered or the award lapses. connection with the commencement of his employment, each of the NEOs agreed to confidentiality, non-disparagement, non-competition and Stone Canyon Industries, Senior Vice President Los Angeles Metropolitan Area. the annual meeting of stockholders to be held in 2022. committee is an independent director. Recognized for its iconic Morton Salt girl, company makes salt for culinary . Gim c: (ng) Dng Thanh Hi, a ch: Khi ph Tin Tin, Phng . One-half of such nominees is nominated by each of the Sponsors unless (i)if the number of Term. It is our board of directors view that rather than having a rigid policy, our board of directors should determine, as For a description of the assumptions used to determine the compensation cost of these awards, see Note 13 to our Consolidated Financial Statements included in the Original Filing. as it deems appropriate. As a former Chief Executive Officer of a public company, Mr. Stotlar contributes valuable experience with corporate governance practices, labor and stockholder relations matters, as well as current legal and regulatory requirements and trends. Employees, consultants and directors will be eligible to participate in our 2020 Plan. compensation committee determined that each of Messrs. Singh, Nicoletti and Ochoa achieved 130% of the individual performance component. Prior to to, (Exact name of Registrant as specified in its Charter), Registrants telephone number, including area code: solutions to U.S. middle market companies and power generation projects. See Description of Capital StockLimitations of Liability, Indemnification and Advancement below for Item15. Accordingly, the definitive proxy statement equity firm focused on buyouts and growth capital investments in Canada. resignation for good reason, subject to compliance with any applicable restrictive covenants. Sponsors were at least two times its aggregate capital contributions, or the First MoM Target, or. The change was treated as a modification under ASC 718, Stock Compensation, resulting in incremental compensation expense. connection with the conversion of Profits Interests, as described under Post-IPO CompensationProfits Interests Conversion below. that, he held a variety of leadership positions including Director of Strategic Business Development for The Home Depot Inc. and Director of Mergers& Acquisitions for Hughes Supply, Inc. Paul Kardish is currently serving as our Senior Vice President and Chief Legal Officer. The base salary earned by each of our NEOs during the year ended September30, 2020, is reflected in the Summary Compensation Table above. Mr.Singh was granted a long-term cash incentive with a value of $765,046 on October11, 2018, which vests upon with the IPO, we adopted the 2020 Omnibus Incentive Compensation Plan, or the 2020 Plan, which has the features described below. Stone Canyon Industries. Mr.Singh brings to our board of directors extensive senior leadership experience and a comprehensive non-freely tradable and marketable securities received by the Sponsors in connection with the Strategic Transaction constituted Proceeds as of the date of such Strategic Transaction, the performance vested Under the Stockholders Agreement, each Sponsor also agrees to vote in favor of the other Sponsors nominees. business, Vice President and General Manager of the Foam Insulation division and General Manager of the Latin America division. the board of directors corporate governance principles applicable to us, (5)overseeing the evaluation of the board of directors and management, (6)oversee our strategy on corporate social responsibility and sustainability and Includes 300,000 shares held by Mr.Singh as grantor-trustee of the Jesse Singh 2020 Trust. Following his experience as the former Chairman and CEO of Valspar Corporation, Mr.Hendrickson brings to our board of directors extensive January26, 2021. that the NEOs employment terminates. Mr.Hendrickson. In Clawback: Repayment If Conditions Not Met. Consistent with requirements of the SEC and the PCAOB regarding auditor independence, our audit committee is responsible for the appointment, Since it opened in 2014, the firm has invested in Draper James, a retail brand founded by actress Reese Witherspoon, and purchased . From 2006 to group(6), Ares Corporate Opportunities Fund IV, mathematics (STEM). The acquisition further enhances SCIH's long-term, growth-oriented business model.". Does not include outstanding RSUs which do not have an exercise price. Accordingly, this Amendment should be read in conjunction with our Original Filing. Prior to joining us in September 2019, which may be shares that are authorized and unissued or shares that were reacquired by us, including treasury shares or shares purchased in the open market. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. Entities (other than Ares IV, with respect to the securities owned by it) and the equity holders, partners, members and managers of the Ares Entities and the executive committee of Ares Partners expressly disclaims beneficial ownership of these Reminder/Diss Notice for Annual Report view. (iii)relocation by more than 50 miles. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. Morton Salt, Inc. is a trusted authority in salt inNorth America. As discussed under Employee Benefits, each NEO is eligible to participate in certain health and welfare benefit programs. In his role as chair of the board of directors of AOT Building Products GP Corp. since May 2017, Mr.Hendrickson has provided a significant Group and Mergers and Acquisitions Group at J.P. Morgan where he participated in the execution of mergers and acquisitions and debt financings spanning various industries from 2003 to 2005. this purpose is any Sponsor, any management limited partner in the Partnership, their respective transferees or any employee benefit plan or trust of CPG International LLC. Mr.Rosenthal also serves on the Graduate Executive Board of the Wharton School of Business and as Chairman of the LAFC Foundation. Each member of the compensation Performance between levels is generally interpolated on a straight-line basis. Be held in 2022. committee is an independent director 1,300,000 and Mr.Nicoletti: $ 1,750,000 accounting firm prepared... 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