Parsons Corp Files Definitive Proxy Statement

Ticker: PSN · Form: DEF 14A · Filed: Mar 5, 2024 · CIK: 275880

Sentiment: neutral

Topics: DEF 14A, Proxy Statement, Parsons Corp, Executive Compensation, Corporate Governance

TL;DR

<b>Parsons Corp has filed its Definitive Proxy Statement for the period ending April 16, 2024.</b>

AI Summary

PARSONS CORP (PSN) filed a Proxy Statement (DEF 14A) with the SEC on March 5, 2024. Parsons Corp filed a Definitive Proxy Statement (DEF 14A) on March 5, 2024. The filing covers the period ending April 16, 2024. The company's fiscal year ends on December 31. Parsons Corp is incorporated in Delaware. The company's business address is 5875 Trinity Pkwy #300, Centreville, VA 20120.

Why It Matters

For investors and stakeholders tracking PARSONS CORP, this filing contains several important signals. This DEF 14A filing provides crucial information for shareholders ahead of the annual meeting, including details on executive compensation, board nominations, and voting matters. Shareholders should review this document to make informed decisions regarding company governance and the election of directors.

Risk Assessment

Risk Level: low — PARSONS CORP shows low risk based on this filing. The filing is a routine DEF 14A, which is standard for public companies and does not contain new material financial or operational information.

Analyst Insight

Shareholders should review the proxy statement for details on executive compensation and board nominations before the upcoming annual meeting.

Key Numbers

Key Players & Entities

FAQ

When did PARSONS CORP file this DEF 14A?

PARSONS CORP filed this Proxy Statement (DEF 14A) with the SEC on March 5, 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 PARSONS CORP (PSN).

Where can I read the original DEF 14A filing from PARSONS 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 PARSONS CORP.

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

PARSONS CORP filed this DEF 14A on March 5, 2024. Key takeaways: Parsons Corp filed a Definitive Proxy Statement (DEF 14A) on March 5, 2024.. The filing covers the period ending April 16, 2024.. The company's fiscal year ends on December 31..

Is PARSONS CORP a risky investment based on this filing?

Based on this DEF 14A, PARSONS CORP presents a relatively low-risk profile. The filing is a routine DEF 14A, which is standard for public companies and does not contain new material financial or operational information.

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

Shareholders should review the proxy statement for details on executive compensation and board nominations before the upcoming annual meeting. The overall sentiment from this filing is neutral.

How does PARSONS CORP compare to its industry peers?

Parsons Corp operates in the computer integrated systems design industry.

Are there regulatory concerns for PARSONS CORP?

The filing is a standard DEF 14A, a regulatory requirement for public companies to disclose information to shareholders.

Industry Context

Parsons Corp operates in the computer integrated systems design industry.

Regulatory Implications

The filing is a standard DEF 14A, a regulatory requirement for public companies to disclose information to shareholders.

What Investors Should Do

  1. Review the executive compensation details within the proxy statement.
  2. Examine the proposed board nominations and director qualifications.
  3. Understand the voting procedures and proposals for the upcoming shareholder meeting.

Key Dates

Year-Over-Year Comparison

This is the initial filing of the DEF 14A for the reporting period.

Filing Stats: 4,288 words · 17 min read · ~14 pages · Grade level 16.4 · Accepted 2024-03-05 06:30:38

Key Financial Figures

Filing Documents

SECURITY OWNERSHIP INFORMATION

SECURITY OWNERSHIP INFORMATION 24

Security Ownership of Directors and Executive Officers

Security Ownership of Directors and Executive Officers 24 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 25 ESOP 25 Unconsolidated Joint Ventures 25 Registration Rights 25 ESOP Trustee Letter Agreement 26 Indemnification Agreements and Directors' and Officers' Liability Insurance 26 Policies and Procedures for Related Person Transactions 26 COMPENSATION DISCUSSION AND ANALYSIS 26 Executive Summary 27 Compensation Philosophy 32

Executive Compensation Setting Process

Executive Compensation Setting Process 32 i Fiscal Year 2023 Compensation Elements in Detail 35 Post-Employment Compensation 45 Compensation Clawback Policy 45 Executive Ownership Guidelines 46 Anti-Hedging and Anti-Pledging Policies 46 Compensation-Related Risk 46 Impact of Tax and Accounting 47 COMPENSATION AND MANAGEMENT DEVELOPMENT COMMITTEE REPORT ON EXECUTIVE COMPENSATION 48 COMPENSATION TABLES 49 Summary Compensation Table 49 Grants of Plan-Based Awards Table 50 Outstanding Long-Term Incentive Awards at Fiscal Year-End Table 51 Long-Term Incentive Awards that Vested in 2023 53 Nonqualified Defined Contribution and Other Nonqualified Deferred Compensation 53 2023 CEO Pay Ratio 54 Potential Payments upon Termination or Change in Control 55 Potential Payments upon Termination or Change in Control Table 57 Employee Stock Ownership Plan 59 Pay Versus Performance 61 Performance Measures 63 DIRECTOR COMPENSATION 66 EQUITY COMPENSATION PLAN INFORMATION 69 AUDIT AND RISK COMMITTEE REPORT 70 PRE-APPROVAL OF SERVICES BY INDEPENDENT REGISTERED ACCOUNTING FIRM 71 INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FEES 71 Audit Fees 71 PROPOSAL 2: RATIFICATION OF APPOINTMENT OF ACCOUNTANTS 72 PROPOSAL 3: ADVISORY VOTE ON COMPANY'S EXECUTIVE COMPENSATION 73 OTHER BUSINESS 74 IMPORTANT INFORMATION ABOUT ANNUAL MEETING AND PROXY PROCEDURES 75 Appendix A: Reconciliation of Non-GAAP Metrics A- 1 ii PROXY STATEM ENT SUMMARY This summary highlights certain information contained elsewhere in this proxy statement. The summary does not contain all of the information that you should consider, and you should review our Annual Report on Form 10-K for the year ended December 31, 2023 and the entire proxy statement carefully before voting. Unless the context otherwise requires, (i) the terms "Parsons," "the Company," "we," "us" and "our" refer to Parsons Corp

Executive Compensation Highlights

Executive Compensation Highlights Together with our Compensation and Management Development Committee, we are committed to managing a compensation program that is competitive and aligns the interests of our executives with the long-term interests of our stockholders. We continuously seek to evolve our approach and stay connected with the views of our stockholders. Our executive compensation programs and policies have been designed to support the development and performance of a strong executive team who are provided with incentives that align with our business strategy and values, attract and retain top talent and address different risks associated with compensation. We provide a total compensation package that fairly and equitably rewards our senior leadership as a team and as individuals, from which we expect superior performance. We have designed our executive pay programs to reward executives for positive company performance and align their interests with those of our stockholders by having a significant portion of compensation composed of performance-based or "at-risk" compensation. We provide an appropriate balance of short- and long-term compensation, with payouts based on the Company's achievement of certain objective financial and non-financial metrics. We have structured our short-term incentive opportunities to focus on the achievement of specific annual financial objectives that will further our longer-term growth objectives. We use our long-term incentive compensation to provide incentives for our executive team to focus on the growth of our overall enterprise value and, correspondingly, to create value for our employee stockholders. In designing and implementing our executive compensation programs, we follow practices that promote proper governance and serve the interests of our stockholders, with maximum payout caps in place for annual cash incentives and long-term performance awards. For more details on our compensation program, please see

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