CTS Corp DEF 14A: Executive Compensation Details

Ticker: CTS · Form: DEF 14A · Filed: 2024-03-29T00:00:00.000Z

Sentiment: neutral

Topics: proxy-statement, executive-compensation, equity-awards

TL;DR

CTS Corp DEF 14A out - exec comp details for 2023, equity awards in focus.

AI Summary

CTS Corp filed its DEF 14A on March 29, 2024, detailing executive compensation for the fiscal year ending December 31, 2023. The filing includes information on equity awards granted, vested, and forfeited, with specific values for PEO and Non-PEO members. Key figures relate to the year-end fair value of unvested equity awards and changes in fair value for awards that vested or were forfeited during the year.

Why It Matters

This filing provides transparency into how CTS Corp compensates its top executives, which can influence investor decisions and perceptions of company management.

Risk Assessment

Risk Level: low — This is a routine proxy statement detailing executive compensation and is not expected to contain material non-public information that would significantly impact the stock price.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of a DEF 14A filing?

A DEF 14A filing, also known as a Proxy Statement, is used to solicit shareholder votes on important corporate matters, such as the election of directors and executive compensation.

What specific fiscal year does this DEF 14A filing primarily cover?

This DEF 14A filing primarily covers the fiscal year ending December 31, 2023.

What type of compensation details are typically found in a DEF 14A?

DEF 14A filings typically detail executive compensation, including salary, bonuses, stock awards, option awards, and other benefits.

Who are the key individuals or groups whose compensation is detailed in this filing?

The filing details compensation for PEO (Principal Executive Officer) and Non-PEO members, referring to the company's top executives.

What is the SIC code for CTS Corp?

The Standard Industrial Classification (SIC) code for CTS Corp is 3672, which corresponds to Printed Circuit Boards.

From the Filing

0001193125-24-081436.txt : 20240329 0001193125-24-081436.hdr.sgml : 20240329 20240329060855 ACCESSION NUMBER: 0001193125-24-081436 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 44 CONFORMED PERIOD OF REPORT: 20240509 FILED AS OF DATE: 20240329 DATE AS OF CHANGE: 20240329 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CTS CORP CENTRAL INDEX KEY: 0000026058 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 350225010 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-04639 FILM NUMBER: 24801888 BUSINESS ADDRESS: STREET 1: 4925 INDIANA AVENUE CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 6305778800 MAIL ADDRESS: STREET 1: 4925 INDIANA AVENUE CITY: LISLE STATE: IL ZIP: 60532 DEF 14A 1 d600442ddef14a.htm DEF 14A DEF 14A Table of Contents DEF 14A false 0000026058 0000026058 2023-01-01 2023-12-31 0000026058 2022-01-01 2022-12-31 0000026058 2021-01-01 2021-12-31 0000026058 2020-01-01 2020-12-31 0000026058 cts:YearendFairvalueOfEquityAwardsGrantedDuringYearThatRemainedUnvestedAsOfLastDayOfYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000026058 cts:ChangeInFairValueFromLastDayOfPriorYearToVestingDateOfUnvestedEquityAwardsThatVestedDuringYearMember ecd:PeoMember 2023-01-01 2023-12-31 0000026058 cts:ChangeInFairValueFromLastDayOfPriorYearToLastDayOfYearOfUnvestedEquityAwardsGrantedPriorToYearMember ecd:PeoMember 2023-01-01 2023-12-31 0000026058 cts:YearendFairvalueOfEquityAwardsGrantedDuringYearThatRemainedUnvestedAsOfLastDayOfYearMember ecd:PeoMember 2023-01-01 2023-12-31 0000026058 cts:TotalInclusionOfEquityValuesMember ecd:PeoMember 2023-01-01 2023-12-31 0000026058 cts:InclusionOfEquityValuesMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000026058 cts:InclusionOfEquityValuesMember ecd:PeoMember 2023-01-01 2023-12-31 0000026058 cts:FairValueAtLastDayOfPriorYearOfEquityAwardsForfeitedDuringYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000026058 cts:ChangeInFairValueFromLastDayOfPriorYearToLastDayOfYearOfUnvestedEquityAwardsGrantedPriorToYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000026058 cts:ExclusionOfStockAwardsMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000026058 cts:ExclusionOfStockAwardsMember ecd:PeoMember 2023-01-01 2023-12-31 0000026058 cts:TotalInclusionOfEquityValuesMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000026058 cts:ChangeInFairValueFromLastDayOfPriorYearToVestingDateOfUnvestedEquityAwardsThatVestedDuringYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000026058 4 2023-01-01 2023-12-31 0000026058 3 2023-01-01 2023-12-31 0000026058 2 2023-01-01 2023-12-31 0000026058 1 2023-01-01 2023-12-31 0000026058 7 2023-01-01 2023-12-31 0000026058 6 2023-01-01 2023-12-31 0000026058 5 2023-01-01 2023-12-31 iso4217:USD UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box:   ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☒ Definitive Proxy Statement ☐ Definitive Additional Materials ☐ Soliciting Material Pursuant to §240.14a-12 CTS CORPORATION     (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply):   ☒ No fee required. ☐ Fee paid previously with preliminary materials. ☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. Table of Contents Table of Contents       Dear CTS Shareholder: 2023 Results 2023 was a challenging year for CTS. We faced significant headwinds from economic uncertainties, geo-political

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