Cimpress plc DEF 14A: Executive Compensation Details
Ticker: CMPR · Form: DEF 14A · Filed: Oct 9, 2024 · CIK: 1262976
Sentiment: neutral
Topics: executive-compensation, DEF 14A, stock-awards
TL;DR
Cimpress plc DEF 14A out: CEO Robert Keane got $10.4M in stock awards FY23. Full comp details inside.
AI Summary
Cimpress plc filed a DEF 14A on October 9, 2024, for the fiscal year ending June 30, 2024. The filing details executive compensation, including stock awards granted to Robert Keane, the CEO. For the fiscal year 2023, Robert Keane received stock awards with a grant date fair value of $10,400,000. The filing also covers the fiscal years 2022, 2021, and 2020, providing compensation data for those periods.
Why It Matters
This filing provides transparency into the compensation packages of Cimpress plc's top executives, which can influence investor perception and corporate governance.
Risk Assessment
Risk Level: medium — DEF 14A filings often contain information about executive compensation and corporate governance, which can be material to investors and may signal changes in company strategy or performance.
Key Numbers
- $10.4B — CEO Stock Awards (Grant date fair value of stock awards for Robert Keane in FY2023)
- 2024-06-30 — Fiscal Year End (Reporting period for the compensation data)
Key Players & Entities
- CIMPRESS plc (company) — Filer
- Robert Keane (person) — CEO and recipient of stock awards
- $10,400,000 (dollar_amount) — Grant date fair value of stock awards for Robert Keane in FY2023
- 20241009 (date) — Filing date
- 2024-06-30 (date) — Fiscal year end
FAQ
What is the primary purpose of this DEF 14A filing for Cimpress plc?
The primary purpose is to provide detailed information regarding the company's annual meeting of shareholders, including executive compensation, director nominations, and other corporate governance matters.
Who is Robert Keane and what was his compensation in the most recent fiscal year reported?
Robert Keane is identified as a PEO Member (likely President/CEO) and received stock awards with a grant date fair value of $10,400,000 for the fiscal year 2023 (July 1, 2022, to June 30, 2023).
What fiscal years are covered by the compensation data in this filing?
The filing provides compensation data for fiscal years 2023, 2022, 2021, and 2020.
What is the SIC code for Cimpress plc?
The Standard Industrial Classification (SIC) code for Cimpress plc is 2750, which corresponds to Commercial Printing.
When was Cimpress plc incorporated and where is its principal business address?
The filing indicates the company's state of incorporation is L2, and its principal business address is First Floor Building 3, Finnabair Business and Technology Park, Dundalk, County Louth, L2 A91 H9N9.
Filing Stats: 4,598 words · 18 min read · ~15 pages · Grade level 13.6 · Accepted 2024-10-09 07:54:11
Key Financial Figures
- $3.3 billion — mpress from inception in 1995 to nearly $3.3 billion of revenue in our 2024 fiscal year, his
- $750,000 — ttee reduced Mr. Keane's base salary by $750,000 to $1,000,000 for fiscal year 2024 whil
- $1,000,000 — Mr. Keane's base salary by $750,000 to $1,000,000 for fiscal year 2024 while increasing h
- $7,250,000 — ing his LTI compensation by $750,000 to $7,250,000. While in fiscal years 2017 through 202
- $250,000 — nnual LTI award for fiscal year 2024 by $250,000 to $2,750,000, consisting of FY24 PSUs
- $2,750,000 — ard for fiscal year 2024 by $250,000 to $2,750,000, consisting of FY24 PSUs based on the f
- $3,264,404,427 — venue Performance Target for Cimpress: $3,264,404,427 Performance Target for Vista: $1,739,7
- $1,739,717,330 — ,404,427 Performance Target for Vista: $1,739,717,330 Weighting: 10% Percentage Achievemen
- $420,000,000 — BITDA Performance Target for Cimpress: $420,000,000 Performance Target for Vista: $333,842
- $333,842,676 — ,000,000 Performance Target for Vista: $333,842,676 Weighting: 45% Percentage Achievemen
- $288,497,675 — Flow Performance Target for Cimpress: $288,497,675 Performance Target for Vista: $283,470
- $283,470,167 — ,497,675 Performance Target for Vista: $283,470,167 Weighting: 45% Percentage Achievemen
Filing Documents
- cmpr-20241009.htm (DEF 14A) — 900KB
- cmpr-20241009_g1.jpg (GRAPHIC) — 10KB
- cmpr-20241009_g2.jpg (GRAPHIC) — 96KB
- cmpr-20241009_g3.jpg (GRAPHIC) — 96KB
- cmpr-20241009_g4.jpg (GRAPHIC) — 91KB
- cmpr-20241009_g5.jpg (GRAPHIC) — 124KB
- cmpr-20241009_g6.jpg (GRAPHIC) — 167KB
- 0001262976-24-000103.txt ( ) — 2970KB
- cmpr-20241009.xsd (EX-101.SCH) — 4KB
- cmpr-20241009_def.xml (EX-101.DEF) — 6KB
- cmpr-20241009_lab.xml (EX-101.LAB) — 7KB
- cmpr-20241009_pre.xml (EX-101.PRE) — 4KB
- cmpr-20241009_htm.xml (XML) — 104KB
Executive Compensation Tables
Executive Compensation Tables 12 Pay Versus Performance 19 Proposal 3: Amendment of Equity Plan 24 Proposal 4: Authorize our Board of Directors to issue ordinary shares 32 Proposal 5: Authorize our Board to opt out of statutory preemptive rights 32 Proposal 6: Reappoint our statutory auditor 33 Proposal 7: Authorize our Board to determine remuneration of our statutory auditor 35 Corporate Governance 36 Compensation of our Board of Directors 42
Security ownership of certain beneficial owners and management
Security ownership of certain beneficial owners and management 43 Questions and answers about the annual meeting and voting 45 Appendix A - Non-GAAP Reconciliations Appendix B - 2020 Equity Incentive Plan as proposed to be amended Appendix C - Form of Proxy ii INFORMATION ABOUT OUR DIRECTORS AND EXECUTIVE OFFICERS Our Board of Directors : The Board of Directors of Cimpress plc consists of four independent, non-employee directors and Robert Keane, our Chief Executive Officer and Chairman, who serve for rotating terms of three years. Name Age Board Position Cimpress Director Since Current Term Expires at our Annual General Meeting In: Independent Director Robert S. Keane 61 Chairman January 1995 2025 No Sophie A. Gasperment 60 Non-Employee Director November 2016 2026 Yes Zachary S. Sternberg* 39 Non-Employee Director November 2017 2024 Yes Dessislava Temperley 51 Non-Employee Director September 2021 2024 Yes Scott J. Vassalluzzo 52 Non-Employee Director January 2015 2025 Yes *Mr. Sternberg is not standing for re-election at the 2024 annual meeting. ROBERT S. KEANE has served as our Chief Executive Officer and Chairman since he founded Cimpress in January 1995. From 1988 to 1994, Mr. Keane was an executive at Flex-Key Corporation, an original equipment manufacturer of keyboards, displays and retail kiosks used for desktop publishing. Since December 2019, Mr. Keane has also served on the Board of Directors of Astronics Corporation, a supplier to the aerospace industry. Mr. Keane brings to Cimpress' Board his experience growing Cimpress from inception in 1995 to nearly $3.3 billion of revenue in our 2024 fiscal year, his understanding of the drivers of our intrinsic value per share, and his knowledge of Cimpress' customer needs, business model and markets. SOPHIE A. GASPERMENT has served as Senior Advisor to Boston Consulting Group since November 2019, where she supports their Consumer and Digital Acceleration practices, and has also provi