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All Other Compensation Table
(a) This column represents Company contributions to the 401(k) plan in 2022.
(b) This column represents relocation and temporary housing for Messrs. Singh and Viets.
(c) This column represents the value of other benefits provided to the NEOs in 2022 and includes amounts for supplemental life insurance premiums for all NEOs. The Company does not permit personal use of corporate aircraft by our executive officers. Although families and invited guests are occasionally permitted to accompany executive officers and directors on business flights, no additional compensation is included in the table because the aggregate incremental cost to the Company is de minimis.
Grants of Plan-Based Awards Table for 2022
(a) These awards are described in “Compensation Discussion and Analysis” beginning on page 32.
(b) The actual amount earned in 2022 was paid in March 2023 as shown in the Non-Equity Incentive Plan Compensation column of the Summary Compensation Table for 2022. See “Compensation Discussion and Analysis — Primary Compensation Elements for 2022 — 2022 Annual Incentive Program” on page 38 for more information regarding our 2022 annual incentive program.
(c) These columns reflect the potential payout range, in units, of aggregate PSUs awarded in 2022. PSUs vest three years from the date of grant. See “Compensation Discussion and Analysis — 2022 Long-Term Incentive Program — Size and Form of 2022 Long-Term Incentive Awards” on page 42 for more information regarding our 2022 Long-Term Incentive Program.
(d) The RSU awards generally vest ratably over three years from the date of grant.
(e) These amounts represent the aggregate grant date fair value of stock awards granted, determined in accordance with FASB ASC Topic 718, excluding the effect of estimated forfeitures. The value ultimately realized by the executive upon the actual vesting of the awards may be more or less than the grant date fair value. For RSUs, values are based on the closing price of the Company's common stock on the grant date. For PSUs, values are based on the fair market value determined by the Monte Carlo simulation. The grant date fair value of the PSUs was determined based on the PSUs awarded vesting at target, which is the performance the Company believed was probable on the grant date. Both RSUs and PSUs receive dividend equivalent rights. The assumptions used by the Company in calculating the amounts related to PSUs are incorporated by reference to Note 13 of the consolidated financial statements included in the Company’s 2022 Annual Report on Form 10-K.
Outstanding Equity Awards at Fiscal Year End 2022 Table
(a) RSU awards generally vest ratably over a three-year period.
(b) Value shown in this column is based on closing price on December 30, 2022 of $94.37 per share.
(c) For details regarding PSUs, see “Compensation Discussion and Analysis — 2022 Long-Term Incentive Program — 2022 PSU Awards on page 43. Amount shown represents the target level number of shares subject to outstanding PSUs.
(d) Value shown in this column is based on a closing price on December 30, 2022 of $94.37 per share.
Option Exercises and Stock Vested Table for 2022
(a) The value of the shares as of the date of vesting was based on a closing price of $96.60 per share.
(b) The value of the shares as of the dates of vesting was based on closing prices of $90.03 and $84.35 per share.
(c) The value of the shares as of the date of vesting was based on a closing price of $96.60 per share.
(d) The 2021 RSUs granted to Mr. Wichterich in his capacity as Chairman of the Board vested on May 20, 2022 and Mr. Wichterich is entitled to receive 12,484 shares in settlement of such RSUs on the earlier of May 20, 2025, upon a Change of Control or Mr. Wichterich’s termination date. The value of the shares as of the date of vesting was $1,137,666.92 based on a closing price of $91.13 per share.