CROWN HOLDINGS, INC. Files DEF 14A for Fiscal Year Ending December 31, 2023

TL;DR

<b>Crown Holdings, Inc. filed its annual DEF 14A, detailing financial information for fiscal years 2020-2023.</b>

AI Summary

CROWN HOLDINGS, INC. (CCK) filed a Proxy Statement (DEF 14A) with the SEC on March 25, 2024. Crown Holdings, Inc. filed a DEF 14A on March 25, 2024, for the period ending May 2, 2024. The filing covers financial data for fiscal years ending December 31, 2023, 2022, 2021, and 2020. The company's principal executive offices are located at 14025 Riveredge Drive, Suite 300, Tampa, FL 33637. Crown Holdings, Inc. is incorporated in Pennsylvania. The Standard Industrial Classification code for the company is 3411 (METAL CANS).

Why It Matters

For investors and stakeholders tracking CROWN HOLDINGS, INC., this filing contains several important signals. This DEF 14A filing provides a comprehensive overview of Crown Holdings' financial performance and executive compensation for the past several fiscal years, crucial for investor understanding. The detailed breakdown of compensation and financial data allows stakeholders to assess management's remuneration in relation to company performance and to make informed investment decisions.

Risk Assessment

Risk Level: low — CROWN HOLDINGS, INC. shows low risk based on this filing. The filing is a routine DEF 14A, providing historical financial and executive compensation data, with no immediate new financial performance indicators or significant strategic shifts disclosed.

Analyst Insight

Review the executive compensation details and historical financial data presented in the DEF 14A to understand management incentives and past performance trends.

Key Numbers

• 2024-03-25 — Filing Date (DEF 14A filing date)
• 2024-05-02 — Period of Report (DEF 14A period of report)
• 2023-12-31 — Fiscal Year End (Company fiscal year end)
• 3411 — SIC Code (Standard Industrial Classification code)
• PA — State of Incorporation (Company state of incorporation)
• 753099507 — IRS Number (Company IRS number)
• 2156985100 — Business Phone (Company business phone number)
• 001-41550 — SEC File Number (SEC file number for the company)

Key Players & Entities

• CROWN HOLDINGS, INC. (company) — Filer name
• CCK (company) — Ticker symbol
• DEF 14A (document) — Filing type
• 2024-03-25T00:00:00.000Z (date) — Filing date
• 2024-05-02 (date) — Period of report
• 14025 RIVEREDGE DRIVE, SUITE 300 (address) — Business address
• TAMPA (location) — Business address city
• FL (location) — Business address state

FAQ

Industry Context

Crown Holdings, Inc. operates in the metal packaging industry, primarily manufacturing beverage cans and closures.

Regulatory Implications

The DEF 14A filing is a regulatory requirement for public companies to disclose information related to proxy solicitations and annual meetings.

What Investors Should Do

1. Analyze the executive compensation structure and any changes from prior years.
2. Examine the financial data presented for the fiscal years 2020 through 2023.
3. Note any specific disclosures or proposals related to the upcoming shareholder meeting.

Year-Over-Year Comparison

This filing is a DEF 14A, which is a routine disclosure for annual meetings and executive compensation, rather than a quarterly or annual financial report (10-Q or 10-K).

Key Financial Figures

• $9,289,000 — ees Tax-Related Fees All Other Fees $9,289,000 $1,350,000 $1,482,000 $10,000 Addi
• $1,350,000 — ated Fees All Other Fees $9,289,000 $1,350,000 $1,482,000 $10,000 Additional infor
• $1,482,000 — ll Other Fees $9,289,000 $1,350,000 $1,482,000 $10,000 Additional information in th
• $10,000 — s $9,289,000 $1,350,000 $1,482,000 $10,000 Additional information in the section
• $1,370,000 — dent and Chief Executive Officer 2023 $1,370,000 $7,671,945 $2,820,488 $0 $65,790 $
• $7,671,945 — ef Executive Officer 2023 $1,370,000 $7,671,945 $2,820,488 $0 $65,790 $11,928,223
• $2,820,488 — Officer 2023 $1,370,000 $7,671,945 $2,820,488 $0 $65,790 $11,928,223 2022 1,315
• $0 — 23 $1,370,000 $7,671,945 $2,820,488 $0 $65,790 $11,928,223 2022 1,315,000
• $65,790 — $1,370,000 $7,671,945 $2,820,488 $0 $65,790 $11,928,223 2022 1,315,000 7,364,0
• $11,928,223 — 0 $7,671,945 $2,820,488 $0 $65,790 $11,928,223 2022 1,315,000 7,364,000 599,969

Filing Documents

• crowndef14a.htm (DEF 14A) — 893KB
• crownlogo1.jpg (GRAPHIC) — 51KB
• directorskills.jpg (GRAPHIC) — 85KB
• elementscompensation.jpg (GRAPHIC) — 153KB
• foldhere.jpg (GRAPHIC) — 5KB
• image_001.jpg (GRAPHIC) — 2KB
• image_002.jpg (GRAPHIC) — 2KB
• image_003.jpg (GRAPHIC) — 2KB
• image_004.jpg (GRAPHIC) — 2KB
• image_005.jpg (GRAPHIC) — 2KB
• image_006.jpg (GRAPHIC) — 2KB
• image_008.jpg (GRAPHIC) — 15KB
• image_009.jpg (GRAPHIC) — 89KB
• image_010.jpg (GRAPHIC) — 56KB
• image_011.jpg (GRAPHIC) — 88KB
• image_012.jpg (GRAPHIC) — 83KB
• image_013.jpg (GRAPHIC) — 74KB
• image_014.jpg (GRAPHIC) — 15KB
• image_015.jpg (GRAPHIC) — 5KB
• image_030.jpg (GRAPHIC) — 15KB
• 0000950159-24-000119.txt (&nbsp;) — 3804KB
• cck-20241231.xsd (EX-101.SCH) — 9KB
• cck-20241231_def.xml (EX-101.DEF) — 15KB
• cck-20241231_lab.xml (EX-101.LAB) — 77KB
• cck-20241231_pre.xml (EX-101.PRE) — 49KB
• crowndef14a_htm.xml (XML) — 286KB

Executive Compensation

Executive Compensation 52 Summary Compensation Table 52 Grants of Plan-Based Awards 54 Outstanding Equity Awards at Fiscal Year-End 56 Option Exercises and Stock Vested 58 Pension Benefits 59 Employment Agreements and Potential Payments upon Termination 60 Pay Ratio Disclosure 63 Pay Versus Performance Disclosure 63 Principal Accountant Fees and Services 70 Audit Committee Report 71 Proposal 2: Ratification of Appointment of Independent Auditors 72 Proposal 3: Advisory Vote to Approve Executive Compensation 73 Proposal 4: Proposal to Amend Articles of Incorporation to Reduce Minimum and Maximum Size of the Board of Directors 74 Proposal 5: Consideration of a Shareholder Proposal Regarding Transparency in Political Spending 75 Other Matters 78 Appendix A A-1 i 2024 PROXY STATEMENT SUMMARY This is a summary only and does not contain all the information that you should consider. We urge you to carefully read the entire Proxy Statement before voting. Crown Holdings, Inc. - 2024 Annual Meeting Time and Date: 9:30 a.m. Eastern Time, May 2, 2024 Place : The Westin Tampa Waterside 725 South Harbour Island Boulevard Tampa, Florida 33602 Record Date: March 12, 2024. Only Shareholders of record of the Company's Common Stock at the close of business on the Record Date will be entitled to vote at the Annual Meeting. 2024 Annual Meeting Proposals Agenda Item Board Recommendation Page 1. Election of Directors FOR EACH DIRECTOR NOMINEE 20 2. Ratification of appointment of Independent Auditors FOR 72 3. Advisory vote to approve executive compensation FOR 73 4. Proposal to amend Articles of Incorporation to reduce the minimum and maximum size of the Board of Directors FOR 74 5. Consideration of a Shareholder proposal regarding transparency in political spending AGAINST 75 How to Cast Your Vote You can vote by any of the following methods: Internet Phone Mail In Person www.proxypus

Executive Compensation Best Practices

Executive Compensation Best Practices WHAT WE DO Maintain a Compensation Committee comprised entirely of independent Directors Benchmark our NEOs' total direct compensation at the 50 th percentile of our peer group Review pay and performance alignment annually Target and provide a majority of the direct compensation paid to our NEOs in performance-based compensation Allocate approximately two-thirds of compensation under the Company's long-term incentive plan to performance-based share awards and approximately one-third to time-based share awards Vest performance-based shares on the basis of two metrics (relative total shareholder return and return on invested capital) Require both a change in control and a qualifying employment termination for vesting of stock compensation (i.e., double-trigger vesting) Base payouts under the Company's Annual Incentive Bonus Plan on the achievement of specified levels of economic profit and modified operating cash flow Maintain stock ownership and holding period requirements for our NEOs Pursuant to our new compensation recovery policy (the "Compensation Recovery Policy") for incentive compensation paid or awarded on or after October 2, 2023, we may recover from certain current or former executive officers, including our NEOs, the amount of any erroneously awarded cash- or equity-based compensation paid on the basis of the achievement of financial performance measures in the event of an accounting restatement, without regard to whether the NEO engaged in intentional misconduct or fraud. The Compensation Recovery Policy applies in addition to any other rights of recovery under any similar policy, including under the Company's general clawback policy pursuant to which the Company may recoup non-equity incentive bonus payments and performance-based equity awards from NEOs in the event of certain acts of misconduct. Engage an independent compensation consultant for our Compensation Committee Annually review the independe

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View this DEF 14A filing on SEC EDGAR