Brunswick Corporation Files Definitive Proxy Statement for 2024 Annual Meeting

Ticker: BC-PC · Form: DEF 14A · Filed: Mar 20, 2024 · CIK: 14930

Brunswick Corp DEF 14A Filing Summary
FieldDetail
CompanyBrunswick Corp (BC-PC)
Form TypeDEF 14A
Filed DateMar 20, 2024
Risk Level
Pages14
Reading Time17 min
Key Dollar Amounts$275 million, $500 million, $1,162,885, $8,179,896, $1,114,000
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, Brunswick Corporation, Annual Meeting, Executive Compensation, Director Election

TL;DR

<b>Brunswick Corporation's 2024 Proxy Statement details director elections, executive compensation votes, and auditor ratification, highlighting strong 2023 performance and strategic investments.</b>

AI Summary

BRUNSWICK CORP (BC-PC) filed a Proxy Statement (DEF 14A) with the SEC on March 20, 2024. Brunswick Corporation filed its Definitive Proxy Statement on March 20, 2024. The filing covers the company's 2024 Annual Meeting of Shareholders. Key proposals include the election of directors, advisory vote on executive compensation, and ratification of the independent auditor. The company reported its second-highest sales and adjusted EPS in 2023 despite macroeconomic challenges. Brunswick implemented cost controls, generated strong free cash flow, and invested in future growth initiatives in 2023.

Why It Matters

For investors and stakeholders tracking BRUNSWICK CORP, this filing contains several important signals. Shareholders will vote on the election of directors and the compensation of named executive officers, directly impacting corporate governance and executive accountability. The ratification of the independent auditor is crucial for maintaining financial transparency and investor confidence in the company's reporting.

Risk Assessment

Risk Level: — BRUNSWICK CORP shows moderate risk based on this filing. The filing is a routine proxy statement, but the company's performance in a challenging macroeconomic backdrop and its strategic investments warrant medium risk due to potential execution risks.

Analyst Insight

Shareholders should review the director nominees and executive compensation proposals carefully, considering the company's 2023 performance and future investment plans.

Financial Highlights

revenue
Second highest sales in 2023
eps
Second highest adjusted EPS in 2023

Key Numbers

  • 2023 — Performance Year (Second highest sales and adjusted earnings per share in Company history)
  • 2024 — Fiscal Year End (Independent Registered Public Accounting Firm for the Fiscal Year Ending December 31, 2024)

Key Players & Entities

  • BRUNSWICK CORPORATION (company) — Registrant
  • 2024 (date) — Annual Meeting
  • 2023 (date) — performance year
  • 2025 (date) — shareholder proposals

FAQ

When did BRUNSWICK CORP file this DEF 14A?

BRUNSWICK CORP filed this Proxy Statement (DEF 14A) with the SEC on March 20, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by BRUNSWICK CORP (BC-PC).

Where can I read the original DEF 14A filing from BRUNSWICK CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by BRUNSWICK CORP.

What are the key takeaways from BRUNSWICK CORP's DEF 14A?

BRUNSWICK CORP filed this DEF 14A on March 20, 2024. Key takeaways: Brunswick Corporation filed its Definitive Proxy Statement on March 20, 2024.. The filing covers the company's 2024 Annual Meeting of Shareholders.. Key proposals include the election of directors, advisory vote on executive compensation, and ratification of the independent auditor..

Is BRUNSWICK CORP a risky investment based on this filing?

Based on this DEF 14A, BRUNSWICK CORP presents a moderate-risk profile. The filing is a routine proxy statement, but the company's performance in a challenging macroeconomic backdrop and its strategic investments warrant medium risk due to potential execution risks.

What should investors do after reading BRUNSWICK CORP's DEF 14A?

Shareholders should review the director nominees and executive compensation proposals carefully, considering the company's 2023 performance and future investment plans. The overall sentiment from this filing is neutral.

How does BRUNSWICK CORP compare to its industry peers?

Brunswick Corporation operates in the marine, powersports, and fitness industries. This filing is a standard proxy statement for its annual shareholder meeting.

Are there regulatory concerns for BRUNSWICK CORP?

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, requiring public companies to provide shareholders with information before their annual meetings.

Risk Factors

  • Macroeconomic Backdrop [medium — financial]: The company delivered strong results in 2023 despite a challenging macroeconomic backdrop.
  • Investment in Future Growth [medium — operational]: Brunswick continued to invest in new products, technologies, and facilities to secure future growth.

Industry Context

Brunswick Corporation operates in the marine, powersports, and fitness industries. This filing is a standard proxy statement for its annual shareholder meeting.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, requiring public companies to provide shareholders with information before their annual meetings.

What Investors Should Do

  1. Review the biographical information and qualifications of the director nominees.
  2. Evaluate the advisory vote on executive compensation, considering the company's performance and compensation philosophy.
  3. Consider the ratification of the independent auditor, ensuring confidence in financial reporting.

Key Dates

  • 2024-03-20: Filing of Definitive Proxy Statement — Provides details for the 2024 Annual Meeting.

Glossary

DEF 14A
Definitive Proxy Statement (This is the form type filed by Brunswick Corporation.)
Named Executive Officers
Key executives whose compensation is disclosed in proxy statements. (Shareholders will vote on their compensation.)
Independent Registered Public Accounting Firm
The external auditor responsible for examining the company's financial statements. (Shareholders will vote to ratify the appointment of this firm.)

Year-Over-Year Comparison

This is the initial filing of the 2024 proxy statement, providing information for the upcoming annual meeting.

Filing Stats: 4,267 words · 17 min read · ~14 pages · Grade level 15.7 · Accepted 2024-03-20 08:01:18

Key Financial Figures

  • $275 million — end increases and share repurchases of $275 million in 2023 and, in early 2024, your Board
  • $500 million — ation, which now provides for more than $500 million of capacity for additional repurchases.
  • $1,162,885 — ulkes, Chief Executive Officer 2023 $1,162,885 $ — $8,179,896 $1,114,000 $ — $
  • $8,179,896 — tive Officer 2023 $1,162,885 $ — $8,179,896 $1,114,000 $ — $389,617 $10,846,
  • $1,114,000 — 2023 $1,162,885 $ — $8,179,896 $1,114,000 $ — $389,617 $10,846,398 Ryan M.
  • $389,617 — 5 $ — $8,179,896 $1,114,000 $ — $389,617 $10,846,398 Ryan M. Gwillim, Execut
  • $10,846,398 — ,179,896 $1,114,000 $ — $389,617 $10,846,398 Ryan M. Gwillim, Executive Vice Presi
  • $636,539 — Financial and Strategy Officer 2023 $636,539 $ — $1,599,357 $391,900 $ — $13
  • $1,599,357 — rategy Officer 2023 $636,539 $ — $1,599,357 $391,900 $ — $136,568 $2,764,364
  • $391,900 — r 2023 $636,539 $ — $1,599,357 $391,900 $ — $136,568 $2,764,364 Aine L.
  • $136,568 — 539 $ — $1,599,357 $391,900 $ — $136,568 $2,764,364 Aine L. Denari , Executi
  • $2,764,364 — $1,599,357 $391,900 $ — $136,568 $2,764,364 Aine L. Denari , Executive Vice Presi
  • $530,462 — resident, Brunswick Boat Group 2023 $530,462 $ — $799,678 $308,300 $ — $156,
  • $799,678 — ick Boat Group 2023 $530,462 $ — $799,678 $308,300 $ — $156,854 $1,795,294
  • $308,300 — oup 2023 $530,462 $ — $799,678 $308,300 $ — $156,854 $1,795,294 Brenna D

Filing Documents

Executive Compensation Summary

Executive Compensation Summary For more information, visit page 55 Year Salary Bonus Stock Awards Non-Equity Incentive Plan Compensation Changes in Pension Value and Non- qualified Defered Compensation Earnings All Other Compensation Total David M. Foulkes, Chief Executive Officer 2023 $1,162,885 $ — $8,179,896 $1,114,000 $ — $389,617 $10,846,398 Ryan M. Gwillim, Executive Vice President and Chief Financial and Strategy Officer 2023 $636,539 $ — $1,599,357 $391,900 $ — $136,568 $2,764,364 Aine L. Denari , Executive Vice President and President, Brunswick Boat Group 2023 $530,462 $ — $799,678 $308,300 $ — $156,854 $1,795,294 Brenna D. Preisser, Executive Vice President and President, Business Acceleration 2023 $548,692 $ — $799,678 $281,500 $ — $152,943 $1,782,813 Christopher F. Dekker , Executive Vice President, General Counsel, Secretary and Chief Compliance Officer 2023 $540,346 $ — $799,678 $277,200 $ — $158,325 $1,775,549 Proposal 3: Ratification of the Appointment of Independent Registered Public Accounting Firm for the Fiscal Year Ending December 31, 2024 For more information, visit page 77 Proxy Statement The Board of Directors of Brunswick Corporation (the Board) is soliciting proxies from Brunswick's shareholders on behalf of the Company for our virtual annual meeting to be conducted via live audio webcast at www. virtualshareholdermeeting.com/BC2024, on Wednesday, May 1, 2024, at 9:00 a.m. CDT (the Annual Meeting). As required by Securities and Exchange Commission (SEC) rules, we are making this Proxy Statement and our Annual Report on Form 10-K available to our shareholders electronically via the Internet. In addition, we are using the SEC's Notice and Access Rules to provide shareholders with more options for receipt of these materials. Accordingly, on March 20, 2024, we will begin mailing a Notice of Internet Availability of Proxy Materials

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