DELAWARE
|
|
47-3574483
|
(State or other Jurisdiction of Incorporation or Organization)
|
|
(I.R.S. Employer Identification No.)
|
47912 HALYARD DRIVE, SUITE 100
PLYMOUTH, MICHIGAN
|
|
48170
|
(Address of Principal Executive Offices)
|
|
(Zip Code)
|
Common Stock, $0.01 par value
|
HZN New York Stock Exchange
|
Mr. Gohl was appointed to our Board and has served as President, Chief Executive Officer since September 23, 2019. Prior to joining the Company, Mr. Gohl served as Chief Operating Officer of International Automotive Components (“IAC”) Group, a supplier of automotive components and systems, from February 2017 to June 2018. From March 2009 to January 2017, Mr. Gohl served as President and Chief Executive Officer of Key Plastics L.L.C. (“Key Plastics”), a global manufacturer and supplier of injection molded plastic components to automotive OEMs. Prior to joining Key Plastics, from 2004 to March 2009, Mr. Gohl served in various executive management and corporate officer roles with Visteon Corporation, a global automotive leader in cockpit electronics. From 1995 to 2005, Mr. Gohl held executive positions with Tower Automotive, an automotive manufacturer, and Lear Corporation, a global leading supplier of automotive seating and e-systems.
|
Mr. Kennedy was appointed to our Board on April 3, 2019, and has served as Chair of the Board since his appointment. Mr. Kennedy is currently president and chief executive officer of Autocam Medical, a privately held contract manufacturer of precision-machined implants and instruments for surgical applications, which he founded in 2005. Mr. Kennedy previously served as the president and chief executive officer of Autocam Corporation, which he founded in 1988 and later sold in 2014. Mr. Kennedy is currently a board member of Lacks Enterprises, Inc., a Michigan-based privately held company providing complex, highly decorated components and systems for the exterior automotive trim market, since 2004; the Van Andel Institute, a Michigan-based nonprofit biomedical research and science education organization, since 2003; Shape Corporation, a full-service, tier-one automotive and industrial component supplier since 2014; and Business Leaders for Michigan, a nonprofit organization for business leaders that is focused on strategy, policy and business initiatives to drive Michigan’s economic growth. Outside of the business world, Mr. Kennedy dedicates a significant amount of time to improving education. Previously, Mr. Kennedy served on Grand Valley State University’s Board of Trustees, as chair from 2016 to 2018 and trustee from 2011 to 2018. Mr. Kennedy is also a founding board member of Grand Rapids University Preparatory Academy, a public education school located in Grand Rapids, Michigan, since 2008. Mr. Kennedy has served on multiple education commissions for the State of Michigan. Currently he is a commissioner on the Governor’s PreK-12 Literacy Commission and he previously served on the State of Michigan’s Third Grade Reading Commission. Mr. Kennedy brings to Horizon Global extensive board and company leadership, business development expertise, and operational and manufacturing experience in the automotive and industrial business segments.
|
Mr. Henderson was appointed to our Board on April 3, 2019 and was named Chair of the Audit Committee at the time of his appointment. Mr. Henderson is currently chair of the board of Adient, PLC, an automotive parts manufacturer focused on automotive seating and interiors, since October 2018, and a director since October 2016. Mr. Henderson also currently serves as chair of the board of Arconic Corporation, a manufacturer of advanced aluminum sheet, plate, extruded and architectural products that primarily advance the ground transportation, aerospace, industrial, packaging, and commercial building markets, since April 1, 2020. Mr. Henderson served as interim chief executive officer of Adient from June 2018 to September 2018. From 2010 until his retirement in December 2017, Mr. Henderson served as chair and chief executive officer of SunCoke Energy, Inc., a producer of coke, a principal raw material in the blast furnace steelmaking process. Mr. Henderson held the same positions at SunCoke Energy Partners GP LLC, the general partner of SunCoke Energy Partners L.P., the publicly traded master limited partnership of which SunCoke Energy, Inc. is a sponsor, from 2013 to 2017. Mr. Henderson served as senior vice president of Sunoco, Inc., a transportation fuel provider with interests in logistics from September 2010, until SunCoke’s initial public offering in 2011. From 1984 to 2009, Mr. Henderson served in various executive management roles at General Motors, LLC, a global automotive company, including president and chief executive officer from April 2009 to December 2009, president and chief operating officer from March 2008 to March 2009, and vice chair and chief financial officer from January 2006 until February 2008.Since 2013, Mr. Henderson has served as a director, and as chair of the audit committee, of Marriott International, Inc., a multinational diversified hospitality company that manages and franchises a broad portfolio of hotels and related lodging facilities. From 2011 to 2014, Mr. Henderson served as a director and chair of the audit committee of Compuware Corporation, an IT software company. Mr. Henderson also is a trustee of the Alfred P. Sloan Foundation, a not-for-profit grantmaking institution that supports research and education in science, technology, engineering, mathematics and economics, since 2008. Mr. Henderson brings extensive corporate senior leadership and board leadership experience to the Horizon Board, as well as operational experience and broad financial expertise related to financial reporting, accounting and compliance for public companies.
|
Mr. Langdon was appointed to our Board on April 3, 2019. Mr. Langdon is currently senior managing director and co-founder of Newport Global Advisors, an alternative investment firm specializing in turnaround and special situation investments, since 2005. Prior to the formation of Newport Global Advisors, Mr. Langdon served in the High Yield Group of AIG Global Investment Group, a business that provides investment advice and markets its asset management products and services, from 2002 to 2005, ultimately reaching the level of managing director responsible for its distressed credit portfolio. Mr. Langdon currently serves on the board of various privately held businesses spanning multiple sectors, including automotive supply, building products, industrial and consumer gases and cylinders, and internet retail. Mr. Langdon has previously served on a variety of privately held company boards relating to firm investments. Mr. Langdon brings extensive financial management, business leadership and financial turnaround expertise.
|
Mr. Milgrim was appointed to our Board on April 3, 2019. Mr. Milgrim is currently co-chair of the board of directors of Loar Group, Inc., a privately held aerospace components manufacturer, since 2017. Mr. Milgrim also serves as a director of Builders FirstSource, Inc., a manufacturer of building materials and components for homebuilders and contractors, since 1999, and PGT Innovations, Inc., a manufacturer and supplier of residential impact-resistant windows and doors, since his appointment in 2003. From 1997 until his retirement in 2011, Mr. Milgrim served as managing director of JLL Partners, Inc., a private equity firm focused on leveraged buyout transactions and leveraged recapitalizations of mid-market companies. Mr. Milgrim was previously an associate at Donaldson, Lufkin & Jenrette Securities Corporation, a New York-based firm providing investment banking and security brokerage services. Mr. Milgrim brings extensive management and board experience in the industrial manufacturing industry, as well as financial and business analytical experience, to the Horizon Board.
|
Ms. Oler was appointed to our Board on March 3, 2020. Prior to Ms. Oler’s appointment, from September 2014 through her retirement on December 31, 2019, Ms. Oler served as senior vice president/president, North American sales and service for W.W. Grainger, Inc. (“Grainger”), a leading global supplier of maintenance, repair and operating supplies for businesses and institutions. Ms. Oler previously held roles of increasing responsibility with Grainger, including vice president sales from 2004 to 2009, and vice president/general manager from 2009 to September 2014. Prior to joining Grainger, Ms. Oler gained extensive sales and leadership experience with Alliant FoodService, Inc., a broadline foodservice distributor, distributing dairy products, seafood and Italian product lines, from 1996 to 2002, and with Kraft Foods, a multinational confectionery, food and beverage manufacturing and processing conglomerate, from 1986 to 1996. Ms. Oler currently serves on the board of directors of Pool Corporation, a position she has held since October 30, 2018. Ms. Oler brings deep sales experience to the Horizon Board.
|
Mr. Roberts was appointed to our Board on March 6, 2018, and was appointed Chair of Horizon Global’s Compensation Committee on April 16, 2019. Mr. Roberts is currently chair of the board of directors of Carlisle Companies Incorporated (“Carlisle”), a diversified manufacturing company, a position he has held since December 2016. Mr. Roberts previously served as Carlisle’s chief executive officer from June 2007 to December 2016. Prior to joining Carlisle, Mr. Roberts served as chair of the board of directors of Graco Inc., a manufacturer of fluid handling systems and components, from April 2006 to June 2007, and as president and chief executive officer from June 2001 to June 2007. In 2003, Mr. Roberts was appointed to the board of directors of Franklin Electric Co., a global leader in the manufacturing and distribution of products and systems focused on the movement and management of water and fuel, and is a member of its corporate governance committee and its management organization and compensation committee. In September 2015, Mr. Roberts was appointed to the board of directors of SPX Corporation, a thermal equipment and services provider, and serves as chair of its compensation committee and as a member of its audit committee and nominating and governance committee. From 2012 to 2015, Mr. Roberts served on the board of directors and as the chair of the Compensation Committee of Polypore International, Inc., a leading global manufacturer specializing in microporous membranes and solutions for battery applications. Mr. Roberts began his career in the automotive industry, holding various manufacturing, engineering, and general management positions with The Budd Company, a leading automotive stamping manufacturer and supplier, Pitney Bowes, a global technology company, and FMC Corporation, a global technology and solutions provider in the agricultural, industrial and consumer markets. Mr. Roberts brings extensive experience in senior management of multinational companies, and expertise in the industrial and manufacturing sectors. Mr. Roberts’ experience from his service on various public company boards is a valuable asset to the Horizon Board.
|
Mr. Weber was appointed to our Board on April 3, 2019, and was appointed Chair of Horizon Global’s Governance Committee on November 13, 2019. Mr. Weber is currently senior vice president and chief operating officer of Federal Signal Corporation (“Federal Signal”), a global manufacturer of environmental cleaning equipment, emergency signaling systems and industrial warning equipment, since his appointment in January 2018. Mr. Weber previously served as president and chief executive officer of Supreme Industries, Inc. (“Supreme”), a leading manufacturer of final mile dry freight and refrigerated work trucks from May 2013 to September 2017, when Supreme was sold to Wabash National Corporation. From 1996 to 2013, Mr. Weber held various leadership positions with Federal Signal including vice president, Sweeper Products, and president, Environmental Solutions Group. Prior to 1996, Mr. Weber served as director, Advanced Midrange Manufacturing for Cummins, a U.S.-based global company in the design, manufacture and distribution of engines, filtration and power generation products. Mr. Weber brings extensive senior management experience leading companies in the industrial and manufacturing sectors, business turnaround leadership as well as deep operational expertise to the Horizon Board.
|
Mr. Wilson was appointed to our Board on April 3, 2019. Mr. Wilson is currently the founder and chief executive officer of MAEVA Group, LLC, a turnaround and restructuring firm, which he founded in January 2011. Previously, Mr. Wilson served as a senior advisor on the President’s Automotive Task Force from March 2009 to August 2009, and as a partner at Silver Point Capital, a credit-oriented investment fund, where he joined as a senior analyst in May 2003 and served until August 2008. From 1999 to 2003, Mr. Wilson worked in the private equity group at The Blackstone Group, a private equity firm. Mr. Wilson also held positions with Clayton, Dubilier & Rice, a private equity firm, from 1995 to 1997, and Goldman Sachs & Co. from 1993 to 1995. Mr. Wilson currently serves on a number of nonprofit boards and has served as co-chair of MAEVA Social Capital, Inc., a venture philanthropy organization focused on early childhood development, since 2017. Mr. Wilson previously served as a director of Sotheby’s, one of the world’s leading auction houses, from May 2014 until October 2019, and as a director of Visteon, an automotive supplier focused on automotive electronics, from January 2011 through the expiration of his term on June 3, 2020. From 2012 through 2013, Mr. Wilson previously served on the board of Yahoo! Inc., one of the world’s leading Internet media companies, and, from 2011 through 2014, Mr. Wilson served on the board of YRC Worldwide, Inc., a leading provider of transportation and global logistics services, as well as a number of private company boards earlier in his career. Mr. Wilson brings a great deal of turnaround and automotive industry experience to the Horizon Board, as well as broad management, board, and financial and analytical expertise.
|
Name
|
|
Age
|
|
Title
|
Terrence G. Gohl
|
|
58
|
|
President, Chief Executive Officer and Director
|
John C. Kennedy
|
|
61
|
|
Chair of the Board
|
Frederick A. “Fritz” Henderson
|
|
61
|
|
Director
|
Ryan L. Langdon
|
|
47
|
|
Director
|
Brett N. Milgrim
|
|
51
|
|
Director
|
Debra S. Oler
|
|
65
|
|
Director
|
David A. Roberts
|
|
72
|
|
Director
|
Mark D. Weber
|
|
62
|
|
Director
|
Harry J. Wilson
|
|
48
|
|
Director
|
Name
|
|
Age
|
|
Title
|
Terrence G. Gohl
|
|
58
|
|
President, Chief Executive Officer and Director
|
Dennis E. Richardville
|
|
65
|
|
Chief Financial Officer
|
Jay Goldbaum
|
|
38
|
|
General Counsel, Chief Compliance Officer and Corporate Secretary
|
Matthew J. Meyer
|
|
38
|
|
Chief Accounting Officer
|
James F. Sistek
|
|
56
|
|
Chief Administrative Officer
|
Matthew T. Pollick
|
|
48
|
|
Chief Operating Officer
|
Name(1)
|
|
Fees Earned
or Paid in Cash
($)
|
|
Stock
Awards
($) (2)
|
|
Total
($)
|
||||||
Richard L. DeVore(3)
|
|
$
|
31,750
|
|
|
$
|
—
|
|
|
$
|
31,750
|
|
Frederick A. Henderson
|
|
$
|
11,250
|
|
|
$
|
160,000
|
|
|
$
|
171,250
|
|
Denise Ilitch(3)
|
|
$
|
42,750
|
|
|
$
|
160,000
|
|
|
$
|
202,750
|
|
John C. Kennedy
|
|
$
|
37,500
|
|
|
$
|
285,002
|
|
|
$
|
322,502
|
|
Scott G. Kunselman(3)
|
|
$
|
32,500
|
|
|
$
|
—
|
|
|
$
|
32,500
|
|
Ryan L. Langdon(4)
|
|
$
|
—
|
|
|
$
|
160,000
|
|
|
$
|
160,000
|
|
Brett N. Milgrim
|
|
$
|
—
|
|
|
$
|
160,000
|
|
|
$
|
160,000
|
|
David A. Roberts
|
|
$
|
29,000
|
|
|
$
|
160,000
|
|
|
$
|
189,000
|
|
Richard D. Siebert(3)
|
|
$
|
31,250
|
|
|
$
|
—
|
|
|
$
|
31,250
|
|
Maximiliane C. Straub
|
|
$
|
29,000
|
|
|
$
|
—
|
|
|
$
|
29,000
|
|
Mark D. Weber
|
|
$
|
1,250
|
|
|
$
|
160,000
|
|
|
$
|
161,250
|
|
Harry J. Wilson
|
|
$
|
—
|
|
|
$
|
160,000
|
|
|
$
|
160,000
|
|
(1)
|
Messrs. Henderson, Kennedy, Langdon, Milgrim, Weber, and Wilson were appointed April 3, 2019, and Messrs. DeVore, Kunselman and Siebert and Ms. Straub resigned April 2, 2019.
|
(2)
|
The amounts in this column reflect the grant date fair value computed in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718 (“FASB ASC Topic 718”) of the restricted stock unit awards made to our non-employee directors during 2019. Messrs. Henderson, Kennedy, Langdon, Milgrim, Roberts, Weber, and Wilson and Ms. Ilitch each received 44,199 restricted stock units effective on May 15, 2019. Mr.
|
(2)
|
Messrs. DeVore, Kunselman and Siebert and Ms Straub resigned April 2, 2019, and each had the vesting of their outstanding 14,035 restricted stock units accelerated to such date. Ms. Ilitch resigned from the Board effective July 22, 2019, resulting in the cancellation of 44,199 unvested restricted stock units.
|
(3)
|
Mr. Langdon assigned his restricted stock units to Newport Global Advisors LP.
|
▪
|
Terrence G. Gohl - President and Chief Executive Officer;
|
▪
|
Carl Bizon - former President and Chief Executive Officer;
|
▪
|
Jay Goldbaum - General Counsel, Chief Compliance Officer and Corporate Secretary;
|
▪
|
Matthew J. Meyer - Chief Accounting Officer;
|
▪
|
Jamie G. Pierson - former Chief Financial Officer; and
|
▪
|
Barry G. Steele - former Chief Financial Officer;
|
Name and
Principal Position
|
|
Year
|
|
Salary
|
|
Bonus
|
|
Stock Awards
|
|
Option Awards
|
|
Non-equity Incentive Plan Compensation
|
|
All Other Compensation
|
|
Total
|
|||||||
($)
|
|
($) (1)
|
|
($) (2)
|
|
($)
|
|
($)
|
|
($) (3)
|
|
($)
|
|||||||||||
Terrence Gohl, President and Chief Executive Officer (1)
|
|
2019
|
|
162,500
|
|
|
—
|
|
|
719,250
|
|
|
—
|
|
|
—
|
|
|
31,188
|
|
|
912,938
|
|
Carl Bizon, former President and Chief Executive Officer
|
|
2019
|
|
511,269
|
|
|
840,752
|
|
|
1,859,999
|
|
|
—
|
|
|
—
|
|
|
1,828,276
|
|
|
5,040,296
|
|
|
2018
|
|
392,826
|
|
|
225,000
|
|
|
313,838
|
|
|
—
|
|
|
—
|
|
|
261,274
|
|
|
1,192,938
|
|
|
Jay Goldbaum, General Counsel, Chief Compliance Officer and Corporate Secretary
|
|
2019
|
|
280,000
|
|
|
420,376
|
|
|
864,380
|
|
|
—
|
|
|
—
|
|
|
42,248
|
|
|
1,607,004
|
|
2018
|
|
280,000
|
|
|
—
|
|
|
125,992
|
|
|
—
|
|
|
14,792
|
|
|
42,027
|
|
|
462,811
|
|
||
Matthew Meyer, Chief Accounting Officer
|
|
2019
|
|
219,231
|
|
|
73,566
|
|
|
136,568
|
|
|
—
|
|
|
—
|
|
|
7,229
|
|
|
436,594
|
|
Jamie Pierson, former Chief Financial Officer (2)
|
|
2019
|
|
259,615
|
|
|
420,376
|
|
|
1,170,375
|
|
|
—
|
|
|
—
|
|
|
24,099
|
|
|
1,874,465
|
|
Barry Steele, former Chief Financial Officer (3)
|
|
2019
|
|
136,923
|
|
|
—
|
|
|
450,000
|
|
|
—
|
|
|
—
|
|
|
7,591
|
|
|
594,514
|
|
(1)
|
Amounts in this column for 2019 represent discretionary cash bonuses for NEOs that were approved by the Compensation Committee on September 18, 2019 in recognition of the Company’s successful completion of the sale of the Company’s Asia Pacific (APAC) operating segment, and the valuable contributions provided by each of the NEOs above and beyond normal time and effort in helping to achieve the Company’s goals, objectives, and milestones for 2019.
|
(2)
|
All 2019 awards in this column relate to service-based restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”) granted under the Amended 2015 Plan, which amounts were calculated based on aggregate grant date fair value in accordance with FASB ASC Topic 718. PSU award values are reported as follows:
|
•
|
With respect to PSUs granted on March 19, 2019 the values reported in the table above represent the probable outcome of the performance conditions ($300,000, $98,000, $21,000 and $150,000 for Messrs. Bizon, Goldbaum, Meyer and Steele, respectively). Assuming that the highest level of performance of the applicable performance conditions is achieved, the grant date fair value of the March 9, 2019 PSUs would be as follows: $600,000 for Mr. Bizon, $196,000 for Mr. Goldbaum, $42,000 for Mr. Meyer and $300,000 for Mr. Steele.
|
•
|
With respect to PSUs granted on June 6, 2019, the values reported in the table above represent the probable outcome of the applicable performance conditions ($320,000 and $50,000 for Messrs. Bizon and Goldbaum, respectively). Assuming that the highest level of performance of the applicable performance conditions is achieved, the grant date fair value of the June 6, 2019 PSUs would be as follows: $640,000 for Mr. Bizon and $100,000 for Mr. Goldbaum.
|
•
|
With respect to the PSUs granted to Mr. Pierson on June 10, 2019, the value reported in the table above represents the probable outcome of the performance conditions ($250,000). Assuming that the highest level of performance of the applicable performance conditions is achieved, the grant date fair value would be $500,000.
|
•
|
With respect to the PSUs granted to Mr. Gohl on September 23, 2019, the value reported in the table above represents the probable outcome of the performance conditions ($411,000). Assuming that the highest level of performance of the applicable performance conditions is achieved, the grant date fair value of these September 23, 2019 PSUs would be $719,250.
|
(3)
|
This column includes flexible cash allowances, Company contributions to retirement and 401(k) plans, Company payment of supplemental long-term disability coverage payments, Company payment for executive physicals, severance, and other compensation for the NEOs (including relocation-related benefits for Mr. Bizon specifically, for 2019, as follows: (A) Messrs. Gohl, Bizon, and Goldbaum each received a flexible cash allowance in the amount of $12,500, $3,750, and $25,000, respectively; (B) Messrs. Gohl, Bizon, Goldbaum, Meyer, Pierson, and Steele each received $8,938, $17,006, $9,200,
|
Element
|
|
Nature
|
|
Description
|
Base Salary
|
|
Fixed
|
|
Fixed compensation component payable in cash; reviewed annually and subject to adjustment
|
Short-Term Incentive (“STI”) Compensation Plan Awards
|
|
Variable
|
|
STI paid in cash based on performance against annually established goals
|
Long-Term Incentive (“LTI”) Plan Awards
|
|
Variable
|
|
LTI equity awards include service and performance-based stock units
|
Retirement and Welfare Benefits
|
|
Fixed
|
|
Retirement plans, health care and insurance benefits
|
Perquisites and Personal Benefits
|
|
Fixed
|
|
Flexible cash allowance, supplemental long-term disability coverage, relocation benefits, and executive physicals
|
Hire/Interim Role Bonuses
|
|
Variable
|
|
Reasonable compensation for recruiting executives and retaining during interim roles
|
Severance Compensation
|
|
Fixed
|
|
Reasonable and market-competitive severance protection designed to attract and retain executive talent
|
Name
|
|
Initial 2019 Target STI
Award Amount
|
|
Initial Target Award as a % of Base Salary
|
|
Amended 2019 Target STI Award Amount
|
|
Amended Target Award as a % of Base Salary
|
||||
Carl Bizon
|
|
$
|
630,000
|
|
|
100.0
|
%
|
|
$315,000
|
|
50.0
|
%
|
Jay Goldbaum
|
|
$
|
140,000
|
|
|
50.0
|
%
|
|
$70,000
|
|
25.0
|
%
|
Matthew Meyer
|
|
$
|
67,500
|
|
|
30.0
|
%
|
|
$33,750
|
|
15.0
|
%
|
Jamie Pierson
|
|
$
|
500,000
|
|
|
100.0
|
%
|
|
$250,000
|
|
50.0
|
%
|
Barry Steele
|
|
$
|
240,000
|
|
|
40.0
|
%
|
|
N/A
|
|
N/A
|
|
▪
|
Recurring Operating Profit Margin - 40%. This metric provides for rewards based on the Company’s performance in consolidated recurring operating profit margin. For purposes of this computation, recurring operating profit margin means earnings before interest, taxes and other income/expense, excluding certain non-recurring charges (cash and non-cash) associated with business restructuring, cost savings projects and asset impairments (recurring operating profit), as a percentage of sales.
|
▪
|
Free Cash Flow - 60%. This metric provides for rewards based on the Company’s recurring cash flow, which is the sum of the Company’s recurring operating profit (defined above), adjusted (1) up or down for other income/expense, (2) up or down for changes in working capital, (3) upward for depreciation and amortization, and (4) downward for capital expenditures, cash interest and cash taxes.
|
|
|
|
|
Target Performance
|
|
|||||||||||
Financial Performance Measure
|
|
Weighting
|
|
Threshold
(50% Payout)
|
|
Target
(100% Payout)
|
|
Maximum
(200% Payout)
|
|
|||||||
|
|
|
|
|
||||||||||||
Recurring Operating Profit
|
|
40.0
|
%
|
|
$
|
25,160
|
|
|
$
|
31,450
|
|
|
$
|
37,740
|
|
|
Recurring Cash Flow
|
|
60.0
|
%
|
|
$
|
18,400
|
|
|
$
|
23,000
|
|
|
$
|
27,600
|
|
|
Total
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
Target Performance
|
|
|
|
|
||||||||
Financial Performance Measure
|
|
Weighting
|
|
Threshold
(20% Payout)
|
|
Target
(50% Payout)
|
|
Maximum
(100% Payout)
|
|
Actual Performance
|
|
Percentage of Incentive Earned
|
||||
|
|
|
|
(dollars in thousands)
|
|
|
||||||||||
Recurring Operating Profit
|
|
40.0
|
%
|
|
$15,096
|
|
$18,870
|
|
$22,644
|
|
$
|
(35,216
|
)
|
|
0
|
%
|
Recurring Cash Flow
|
|
60.0
|
%
|
|
$8,336
|
|
$10,420
|
|
$12,504
|
|
$
|
(15,114
|
)
|
|
0
|
%
|
Total
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
|
|
Name
|
|
Target STI Award as a % of Base Salary
|
|
Target STI Award Amount
|
|
Actual STI Award Earned (%)
|
|
STI Award Amount Earned
|
||||||
Jay Goldbaum
|
|
50.0
|
%
|
|
$
|
140,000
|
|
|
0
|
%
|
|
$
|
0
|
|
Matthew Meyer
|
|
30.0
|
%
|
|
$
|
67,500
|
|
|
0
|
%
|
|
$
|
0
|
|
Name
|
|
Service-Based RSUs Granted in 2019
|
|
Target PSUs Granted
in 2019
|
|
Total Target 2019 LTI Award Amount
|
|
Total Target 2019 LTI Award Amount as Percent of Salary
|
|||||||
Carl Bizon(1)
|
|
$
|
300,000
|
|
|
300,000
|
|
|
$
|
600,000
|
|
|
95.2
|
%
|
|
Jay Goldbaum(2)
|
|
$
|
98,000
|
|
|
$
|
98,000
|
|
|
$
|
196,000
|
|
|
70.0
|
%
|
Matthew Meyer(2)
|
|
$
|
21,000
|
|
|
$
|
21,000
|
|
|
$
|
42,000
|
|
|
18.7
|
%
|
Barry Steele(3)
|
|
$
|
150,000
|
|
|
$
|
150,000
|
|
|
$
|
300,000
|
|
|
75.0
|
%
|
(1)
|
Mr. Bizon’s grant payouts are or were subject to pro-ration based on his severance of employment with the Company in 2019. The service-based restricted stock units were settled in shares on April 7, 2020. Pro-rated PSUs are eligible for future vesting to the extent the performance metrics are met.
|
(2)
|
Messrs. Bizon, Goldbaum, Meyer and Steele’s service-based restricted stock unit awards are or were generally scheduled to vest ratably on March 19, 2020, March 19, 2021, and March 19, 2022, respectively.
|
(3)
|
Pursuant to the terms of the grant agreement, all LTI awards for Mr. Steele were forfeited at time of resignation.
|
Performance Level
|
ROIC
|
Percentage Earned
|
Maximum
|
15.0%
|
200%
|
|
14.0%
|
175%
|
Above Target
|
13.0%
|
150%
|
|
12.0%
|
125%
|
Target
|
11.0%
|
100%
|
Below Target
|
10.5%
|
75%
|
Threshold
|
9.9%
|
50%
|
Below Threshold
|
< 9.9%
|
0%
|
Name
|
|
Target 2018-2019 ROIC Amount
|
|
|
Actual Award Earned (%)
|
|
|
|
Award Amount Earned
|
|||||||
Jay Goldbaum
|
|
65,333
|
|
|
|
$
|
|
0.0
|
|
|
$
|
0
|
|
Name
|
|
Multiple
|
Terrence G. Gohl
|
|
5x
|
Jay Goldbaum
|
|
3x
|
Matthew J. Meyer
|
|
3x
|
|
|
|
|
Option Awards
|
|
Stock Awards
|
||||||||||||||||||||
Name
|
|
Grant Date
|
|
Number of Securities Underlying Unexercised Options
(#) Exercisable
|
|
Number of Securities Underlying Unexercised Options
(#) Unexercisable
|
|
Option Exercise Price
($)
|
|
Option Expiration Date
|
|
Number of
Shares
or Units
of Stock That
Have Not
Vested
(#)
|
|
Market Value
of Shares or
Units of Stock
That Have Not
Vested
($) (1)
|
|
Equity Incentive Plan Awards:
Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) (1)
|
|
Equity Incentive Plan Awards:
Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested
($) (1)
|
||||||||
Terrence Gohl
|
|
9/23/2019(11)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
100,000
|
|
|
349,000
|
|
Carl Bizon (2)
|
|
3/19/2019 (5)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
19,444
|
|
|
67,860
|
|
|
|
6/6/2019 (5)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
11,648
|
|
|
40,652
|
|
Jay Goldbaum
|
|
8/15/2015
|
|
3,194
|
|
|
—
|
|
|
11.02
|
|
|
8/15/2025
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
10/7/2015
|
|
491
|
|
|
—
|
|
|
9.20
|
|
|
10/7/2025
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
3/1/2016 (6)
|
|
5,598
|
|
|
—
|
|
|
10.08
|
|
|
3/1/2026
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
3/1/2017 (7)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,140
|
|
|
3,978
|
|
|
—
|
|
|
—
|
|
|
|
3/1/2017(3)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,279
|
|
|
7,954
|
|
|
|
3/1/2018(9)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,947
|
|
|
20,755
|
|
|
—
|
|
|
—
|
|
|
|
3/1/2018(4)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7,929
|
|
|
27,672
|
|
|
|
3/19/2019(8)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
32,667
|
|
|
114,008
|
|
|
—
|
|
|
—
|
|
|
|
3/19/2019(5)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
32,667
|
|
|
114,008
|
|
|
|
6/6/2019(8)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
15,015
|
|
|
52,402
|
|
|
—
|
|
|
—
|
|
|
|
6/6/2019(5)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
15,015
|
|
|
52,402
|
|
|
|
9/19/2019(10)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
104,312
|
|
|
364,049
|
|
|
—
|
|
|
—
|
|
Matthew Meyer
|
|
3/19/2019 (8)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7,000
|
|
|
24,430
|
|
|
—
|
|
|
—
|
|
|
|
3/19/2019 (5)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7,000
|
|
|
24,430
|
|
|
|
9/19/2019 (10)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
18,255
|
|
|
63,710
|
|
|
—
|
|
|
—
|
|
Jamie Pierson
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Barry Steele
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
(1)
|
|
(1)
|
The market value is based on the Company’s stock price as of December 31, 2019 ($3.49) multiplied by the number of shares or units granted (for PSUs, at 100%).
|
(2)
|
Mr. Bizon RSU awards granted on 3/1/2018, 3/19/2019, and 6/6/2019 were vested on a pro-rated basis per the severance agreement and will be distributed on 4/7/2020.
|
(3)
|
PSU awards are designed to be earned based on the achievement of specific performance measures over a period that began on January 1, 2017 and ends on December 31, 2019.
|
(4)
|
PSU awards are designed to be earned based on the achievement of specific performance measures over a period that began on January 1, 2018 and ends on December 31, 2020.
|
(5)
|
PSU awards are designed to be earned on the achievement of specific performance measures over a period that began on January 1, 2019 and ends on December 31, 2021. For more information regarding these PSU awards, see “2019 Long-Term Incentive Program.”
|
(6)
|
Stock options for Mr. Goldbaum granted on March 1, 2016 fully vested and became exercisable on March 1, 2019.
|
(7)
|
The remaining portion of the March 1, 2017 RSU grant vests or vested in substantially equal installments on March 1, 2020 and March 1, 2021.
|
(8)
|
These restricted stock unit awards generally vest ratably on the first three anniversaries of the grant date.
|
(9)
|
These restricted stock unit awards generally vest ratably on the four anniversaries of the grant date.
|
(10)
|
These restricted stock unit awards generally vest on the first anniversary of the grant date.
|
(11)
|
PSU awards are designed to be earned on the achievement of specific performance measures over a period that began on September 23, 2019 and ends on September 23, 2022.
|
1.
|
Any individual, entity or group acquires beneficial ownership of 35% or more of the voting power of the Company’s outstanding common stock, subject to certain exceptions, as further described in the Severance Policy;
|
2.
|
A majority of members of the Board are replaced by directors whose appointment or election is not approved by a majority of the Company’s directors, subject to certain exceptions, as described in the Severance Policy;
|
3.
|
The Company consummates a reorganization, merger or certain other substantial corporate transactions resulting in a substantial change in the Company’s ownership or leadership, subject to certain exceptions, as described in the Severance Policy; or
|
4.
|
Approval by the Company’s stockholders of a complete liquidation or dissolution of the Company, subject to certain exceptions, as described in the Severance Policy.
|
Plan category
|
|
Number of securities to be issued upon exercise of outstanding options, warrants and rights
(a)
|
|
Weighted-average exercise price of outstanding options, warrants and rights
(b) (1)
|
|
Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))
(c) (2)
|
||||
Equity compensation plans approved by security holders
|
|
1,405,822
|
|
|
$
|
10.52
|
|
|
2,303,097
|
|
Equity compensation plans not approved by security holders
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
TOTAL:
|
|
1,405,822
|
|
|
$
|
10.52
|
|
|
2,303,097
|
|
(1)
|
The weighted-average exercise price relates to outstanding stock options only. The Company’s restricted stock unit awards have no exercise price.
|
(2)
|
As of December 31, 201, includes 2,303,097 shares available for future issuance under the Amended 2015 Plan, all of which may be issued for awards other than stock options, restricted stock units or stock appreciation rights.
|
▪
|
each person known by us to beneficially own more than 5% of the Common Stock;
|
▪
|
each of the Company’s directors and director nominees;
|
▪
|
each of the named executive officers (“NEOs”); and
|
▪
|
all of the Company’s directors and executive officers as a group.
|
|
|
Shares Beneficially
Owned |
||||
Name and Beneficial Owner
|
|
Number
|
|
Percentage
|
||
T. Rowe Price Associates, Inc.(1)
100 E. Pratt Street, Baltimore MD 21202
|
|
4,697,027
|
|
|
18.44
|
%
|
Atlas Capital Resources II LP(2)
100 Northfield Street, Greenwich, CT 06830
|
|
2,473,904
|
|
|
9.71
|
%
|
Royce & Associates, LP(3)
745 Fifth Avenue, New York, NY 10151
|
|
1,806,153
|
|
|
7.09
|
%
|
Corre Partners Management, LLC(4)
12 East 49th Street, 40th Floor, New York, NY 10017
|
|
6,731,982
|
|
|
22.68
|
%
|
Carl S. Bizon(5)
|
|
81,477
|
|
|
0.32
|
%
|
Jay Goldbaum(6)
|
|
109,027
|
|
|
0.43
|
%
|
Terrence G. Gohl
|
|
7,000
|
|
|
0.03
|
%
|
Frederick A. “Fritz” Henderson
|
|
98,899
|
|
|
0.39
|
%
|
John C. Kennedy(7)
|
|
1,205,039
|
|
|
4.67
|
%
|
Ryan L. Langdon(8)
|
|
1,669,698
|
|
|
6.34
|
%
|
Matthew J. Meyer
|
|
7,333
|
|
|
0.03
|
%
|
Brett N. Milgrim
|
|
44,199
|
|
|
0.17
|
%
|
Debra S. Oler
|
|
—
|
|
|
0.00
|
%
|
Jamie G. Pierson(9)
|
|
—
|
|
|
0.00
|
%
|
Matthew T. Pollick
|
|
5,000
|
|
|
0.02
|
%
|
Dennis E. Richardville
|
|
—
|
|
|
0.00
|
%
|
David A. Roberts
|
|
61,074
|
|
|
0.24
|
%
|
James F. Sistek
|
|
—
|
|
|
0.00
|
%
|
Barry G. Steele(10)
|
|
—
|
|
|
0.00
|
%
|
Mark D. Weber
|
|
44,199
|
|
|
0.17
|
%
|
Harry J. Wilson
|
|
1,279,511
|
|
|
5.01
|
%
|
All executive officers and directors as a group (14 persons) (11)
|
|
|
|
|
(1)
|
Information contained in the columns above and this footnote is based on a report on Schedule 13G/A filed with the SEC on February 14, 2020 jointly by T. Rowe Price Associates, Inc. (“T. Rowe Price”), and T. Rowe Price Small-Cap Value Fund, Inc. (“T. Rowe Fund”). As of December 31, 2019, T. Rowe Price had sole voting power with respect to 1,047,117 shares of Common Stock, and sole dispositive power with respect to 4,697,027 shares of Common Stock; and T. Rowe Fund had sole voting power with respect to 3,579,190 shares of Common Stock.
|
(2)
|
Information contained in the columns above and this footnote is based on a report on Schedule 13D/A filed with the SEC on December 20, 2019 jointly by (i) Atlas Capital Resources II LP (“Atlas Capital”); (ii) Lapetus Capital II LLC (“Lapetus Capital”); (iii) Atlas Capital GP II LP (“Atlas GP II”); (iv) Atlas Capital Resources GP II LLC (“Atlas Capital LLC”); (v) Mr. Andrew M. Bursky; and (vi) Mr. Timothy J. Fazio (each, a “Atlas Reporting Person” and collectively, the “Atlas Reporting Persons”). As of December 18, 2019, the Atlas Reporting Persons, specifically Atlas Capital, Lapetus Capital, Atlas GP II, Atlas Capital LLC, Mr. Bursky and Mr. Fazio had shared voting power with respect to 2,473,904 shares of Common Stock; and shared dispositive power with respect to 2,473,904 shares of Common Stock.
|
(3)
|
Information contained in the columns above and this footnote is based on a report on Schedule 13G filed by Royce Associates, LP (“Royce”) with the SEC on January 21, 2020. As of December 31, 2019, Royce had sole voting power and sole dispositive power with respect to 1,806,153 shares of Common Stock.
|
(4)
|
Information contained in the columns above and this footnote is based on a report on Schedule 13D/A filed with the SEC on March 22, 2019 jointly by (i) Corre Opportunities by Qualified Master Fund, LP (the “Fund”); (ii) Corre Partners Advisors, LLC (the “General Partner”), which serves as the general partner of the Fund; (iii) Corre Partners Management, LLC (the “Investment Adviser”), which has been delegated investment authority over the assets of the Fund by the General Partner; (iv) Mr. John Barrett, who serves as a managing member of the General Partner and the Investment Adviser; and (v) Mr. Eric Soderlund, who serves as a managing member of the General Partner and the Investment Adviser (each, a “Corre Reporting Person” and collectively, the “Corre Reporting Persons”). As of March 22, 2019, (i) the Fund may be deemed to be the beneficial owner of 1,802,958 Shares, consisting of 1,788,801 shares of Common Stock and 14,157 shares of Common Stock issuable upon conversion of certain notes and warrants of the Company held by the Fund, and (ii) each of the General Partner, the Investment Adviser, Mr. Barrett and Mr. Soderlund may be deemed to be the beneficial owner of 2,519,454 shares of Common Stock, consisting of 2,505,297 shares of Common Stock and 14,157 shares of Common Stock issuable upon conversion of certain notes and warrants of the Company held by the Corre Reporting Persons. The Fund had shared voting power with respect to 1,802,958 shares of Common Stock; and shared dispositive power with respect to 1,802,958 shares of Common Stock. The General Partner, the Investment Adviser, Mr. Barrett and Mr. Soderlund had shared voting power with respect to 2,519,454 shares of Common Stock; and shared dispositive power with respect to 2,519,454 shares of Common Stock. The amount does not include shares of Common Stock underlying convertible senior notes and Warrants held by the Corre Reporting Persons, which subject to limitations on the right to convert and exercise, respectively, to the extent that after giving effect to such issuance after conversion or exercise, the Corre Reporting Persons (together with the Corre Reporting Persons’
|
(5)
|
The number set forth in the table is based on the total reported as of Mr. Bizon’s termination date on September 20, 2019, and includes 43,902 RSUs which vested April 7, 2020.
|
(6)
|
The number set forth in the table includes 9,283 exercisable options.
|
(7)
|
The number set forth in the table includes warrants to purchase 278,283 shares of Common Stock.
|
(8)
|
The number set forth in the table includes warrants to purchase Common Stock owned by Newport Global Advisers LP.
|
(9)
|
Pursuant to the terms of the Plan, Mr. Pierson’s RSUs were forfeited upon his resignation date on December 12, 2019.
|
(10)
|
Pursuant to the terms of the Plan, Mr. Steele’s RSUs were forfeited upon his resignation date on February 8, 2019.
|
(11)
|
With the exception of Messrs. Kennedy, Langdon and Wilson, each director and NEO beneficially owns less than one percent of the outstanding shares of the Common Stock. Messrs. Bizon, Pierson and Steele are not included in this group.
|
|
|
2019
|
|
2018
|
||||
Audit Fees
|
|
$
|
2,025,000
|
|
|
$
|
1,535,000
|
|
Audit-related Fees
|
|
36,000
|
|
|
6,000
|
|
||
Tax Fees
|
|
—
|
|
|
—
|
|
||
All Other Fees
|
|
5,000
|
|
|
5,000
|
|
||
Total
|
|
$
|
2,066,000
|
|
|
$
|
1,546,000
|
|
2.1(c)*
|
|
2.2(r)
|
|
3.1(q)
|
|
3.2(b)
|
|
4.1(j)
|
|
4.2(j)
|
|
4.3(t)
|
|
4.4(o)
|
|
4.5(o)
|
|
10.1(c)
|
|
10.2(c)
|
|
10.3(c)
|
10.4(f)
|
|
10.5(f)
|
|
10.6(i)
|
|
10.7(l)
|
|
10.8(n)
|
|
10.9(c)
|
|
10.10(i)
|
|
10.11(l)
|
|
10.12(k)*
|
|
10.13(m)
|
|
10.14(n)
|
|
10.15(d)**
|
|
10.16(e)**
|
|
10.17(a)
|
|
10.18(e)**
|
|
10.19(e)**
|
|
10.20(e)**
|
|
10.21(e)**
|
|
10.22(e)**
|
|
10.23(e)**
|
|
10.24(e)**
|
|
10.25(g)**
|
10.26(g)**
|
|
10.27(g)**
|
|
10.28(g)**
|
|
10.29(g)**
|
|
10.30(h)**
|
|
10.31(m)**
|
|
10.32(m)**
|
|
10.33(m)**
|
|
10.34(m)**
|
|
10.35(m)**
|
|
10.36(n)**
|
|
10.37(i)
|
|
10.38(j)
|
|
10.39(j)
|
|
10.40(j)
|
|
10.41(j)
|
|
10.42(j)
|
|
10.43(j)
|
|
10.44(j)
|
|
10.45(j)
|
|
10.46(j)
|
|
10.47(j)
|
|
10.48(j)
|
|
10.49(j)
|
|
10.50(n)
|
|
10.51(h)
|
|
10.52(h)
|
|
10.53(p)
|
10.54(p)
|
|
10.55(p)
|
|
10.56(p)
|
|
10.57(p)
|
|
10.58(p)
|
|
10.59(p)
|
|
10.60(p)
|
|
10.61(p)
|
|
10.62(p)
|
|
10.63(p)
|
|
10.64(p)
|
|
10.65(q)
|
|
10.66(q)
|
|
10.67(q)
|
|
10.68(s)
|
|
10.69(s)
|
|
10.70(s)
|
|
10.71(s)
|
10.72(s)
|
|
21.1(t)
|
|
23.1(t)
|
|
31.1
|
|
31.2
|
|
32.1(t)
|
|
32.2(t)
|
|
101.INS(u)
|
XBRL Instance Document.
|
101.SCH(u)
|
XBRL Taxonomy Extension Schema Document.
|
101.CAL(u)
|
XBRL Taxonomy Extension Calculation Linkbase Document.
|
101.DEF(u)
|
XBRL Taxonomy Extension Definition Linkbase Document.
|
101.LAB(u)
|
XBRL Taxonomy Extension Label Linkbase Document.
|
101.PRE(u)
|
XBRL Taxonomy Extension Presentation Linkbase Document.
|
(a)
|
|
Incorporated by reference to the Exhibits filed with our Registration Statement on Form S-1 filed on March 31, 2015 (Reg. No. 333-203138).
|
(b)
|
|
Incorporated by reference to the Exhibits filed with our Current Report on Form 8-K filed on February 20, 2019 (Reg. No. 001-37427).
|
(c)
|
|
Incorporated by reference to the Exhibits filed with our Current Report on Form 8-K filed on July 6, 2015 (File No. 001-37427).
|
(d)
|
|
Incorporated by reference to the Exhibits filed with our Quarterly Report on Form 10-Q filed on August 11, 2015 (File No. 001-37427).
|
(e)
|
|
Incorporated by reference to the Exhibits filed with our Quarterly Report on Form 10-Q filed on November 10, 2015 (File No. 001-37427).
|
(f)
|
|
Incorporated by reference to the Exhibits filed with our Current Report on Form 8-K filed on December 23, 2015 (File No. 001-37427).
|
(g)
|
|
Incorporated by reference to the Exhibits filed with our Quarterly Report on Form 10-Q filed on May 3, 2016 (File No. 001-37427).
|
(h)
|
|
Incorporated by reference to Exhibits filed with our Annual Report on Form 10-K filed on March 18, 2019 (File No. 001-37427).
|
(i)
|
|
Incorporated by reference to the Exhibits filed with our Current Report on Form 8-K filed on October 11, 2016 (File No. 001-37427).
|
(j)
|
|
Incorporated by reference to the Exhibits filed with our Current Report on Form 8-K filed on February 1, 2017 (File No. 001-37427).
|
(k)
|
|
Incorporated by reference to the Exhibits filed with our Current Report on Form 8-K filed on April 6, 2017 (File No. 001-37427).
|
(l)
|
|
Incorporated by reference to the Exhibits filed with our Annual Report on Form 10-K filed on March 10, 2017 (File No. 001-37427).
|
(m)
|
|
Incorporated by reference to the Exhibits filed with our Quarterly Report on Form 10-Q filed on May 3, 2018 (File No. 001-37427).
|
(n)
|
|
Incorporated by reference to the Exhibits filed with our Quarterly Report on Form 10-Q filed on August 7, 2018 (File No. 001-37427).
|
(o)
|
|
Incorporated by reference to the Exhibits filed with our Current Report on Form 8-K filed on March 18, 2019 (File No. 001-37427).
|
(p)
|
|
Incorporated by reference to the Exhibits filed with our Quarterly Report on Form 10-Q filed on May 9, 2019 (File No. 001-37427).
|
(q)
|
|
Incorporated by reference to the Exhibits filed with our Quarterly Report on Form 10-Q filed on August 8, 2019 (File No. 001-37427).
|
(r)
|
|
Incorporated by reference to the Exhibit filed with our Current Report on Form 8-K filed on September 25, 2019 (File No. 001-37427).
|
(s)
|
|
Incorporated by reference to the Exhibits filed with our Quarterly Report on Form 10-Q filed on November 12, 2019 (File No. 001-37427).
|
(t)
|
|
Incorporated by reference to the Exhibits filed with our Annual Report on Form 10-K filed on March 16, 2020 (File No. 001-37427).
|
(u)
|
|
Previously submitted electronically with our Annual Report on Form 10-K filed on March 16, 2020 (File No. 001-37427).
|
|
HORIZON GLOBAL CORPORATION
(Registrant)
|
|
/s/ Terrence G. Gohl
|
DATE: April 29, 2020
|
Name: Terrence G. Gohl
Title: President and Chief Executive Officer
|
1.
|
I have reviewed this annual report on Form 10-K/A of Horizon Global Corporation for the fiscal year ended December 31, 2019; and
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.
|
1.
|
I have reviewed this annual report on Form 10-K/A of Horizon Global Corporation for the fiscal year ended December 31, 2019; and
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.
|