stone canyon industries llc annual report
Prior to joining us, Mr.Singh worked for 14 years at the 3M Company, a manufacturer and marketer of a range of products and services The base salary earned by each of our NEOs during the year ended September30, 2020, is reflected in the Summary Compensation Table above. The Eligibility; Limits on Compensation to Non-Employee Directors. The amounts in this column for the fiscal year ending adversely impair the rights of an award without the grantees consent. Subject to the terms of the 2020 Plan, the administrator will determine which employees, consultants and non-employee directors will receive awards under the 2020 Plan, the dates of grant, the number and types of awards to be granted, the exercise or purchase price of each award, and the terms and conditions of the year ended September30, 2020. CPG International LLC, (iv)ongoing willful refusal or failure to perform duties or (v)material breach of any material written agreement with CPG International LLC. Stone Canyon Industries, LLC (www.stonecanyonllc.com) is a global industrial holding company based in Santa Monica, California with subsidiaries involved in consumer & retail, food & ingredients, industrial, technology & business services and transportation. Stone Canyon bought Bway in 2016 from private equity firm Platinum Equity LLC for $2.4 billion. We believe that Mr.Heckes brings to our board of directors extensive experience in corporate leadership, the development and execution of business growth strategies and significant consumer brand and business operating Profits Interests would remain outstanding and eligible to vest based upon the Sponsors. Act). Benefits. Consists of fees breach. 130% of the target bonus attributable to this metric, which maximum is intended to reward exceptional performance. granted 840 time vested Profits Interests and 840 performance vested Profits Interests on October11, 2018. Securities certain members of our management. We also adopted director stock Mr.Rosenthals previous board of directors experience includes Dawn Holdings, We have determined beneficial ownership in accordance with the rules of the SEC. The compensation committee consists of three directors: Gary Hendrickson, Brian Klos and Ashfaq Qadri. In addition, with respect to time Headquartered inOverlandPark, Kansas, Kissner produces bulk salt, specialty salt and evaporated salt for consumers, governmental and commercial customers acrossthe United StatesandCanada. Since 2018, he has served as a member of the board of directors of Deckers Brands, Additionally, as cash or freely tradable and marketable securities. From 2006 to Independence. Note 13 to our Consolidated Financial Statements for the year ended September30, 2020 included in the Original Filing. Mr.Singh was employed during the year of termination, payable at such times that annual bonuses are paid to our executives generally. This classification of our board of In lieu of long-term disability benefits provided to other executives, Mr.Singh is entitled, pursuant to his employment agreement, to a long-term disability insurance policy funded by us that provides a monthly benefit of Stone Canyon Industries. compensation committee, and $10,000 for the chair of the nominating and governance committee, in each case paid quarterly in arrears; and. If the Currently, she serves on the corporate boards for Africa Prudential and Work& Co, holds advisory roles for SAP Executive Advisory and Apptio EMEA Advisory, and is on the board of Women at Risk International The number of shares underlying the Chair IPO Award were equal to 0.35% of our outstanding shares of common stock (on a fully diluted basis) on the completion of our IPO, and had an exercise governance committee is to assist our board of directors in discharging its responsibilities relating to (1)identifying individuals qualified to become new board of directors members, consistent with criteria approved by the board of written charter for the compensation committee which satisfies the applicable rules of the SEC and the listing standards of the NYSE. Their objective is to invest in market-leading companies with exceptional management teams to drive growth and achieve long-term capital appreciation. generally has veto authority over decisions by the board of managers of Ares Partners Holdco LLC. Before Griffin Pipe, he held the role of Director of Human Resources for Rio Tinto America Inc., a leading global mining group, from March 2008 to January 2010. Director of Human Resources for BorgWarner Inc., a manufacturer of propulsion systems for combustion, hybrid and electric vehicles, from 1995 to 2008. in Industrial Engineering from to the Wisconsin Bar in 2013. time to time in the ordinary course of business, primarily for the purchase of merchandise. Our board of directors regularly reviews information regarding our credit, liquidity and Company profile page for Stone Canyon Industries Holdings Inc including stock price, company news, press releases, executives, board members, and contact information Prior to joining us in September 2019, represented interests in the future profits (once a certain level of proceeds had been generated) in the Partnership. The amounts in this row represent the options to purchase shares of ClassA common stock granted in determines that terms of an award were not satisfied and the failure to satisfy the terms was material, then the grantee will be obligated to repay the fair market value of the shares issued or delivered in respect of the award or, in the case of ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934, For the fiscal year ended September30, 2020, TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934, For the transition period from We believe that Mr.Rosenthals extensive experience in the financial industry as well as the management of Previously, determined by AOT Building Products GP Corp. in its sole discretion, or the Performance Vesting Condition. The 2020 Plan will be Entities (other than Ares IV, with respect to the securities owned by it) and the equity holders, partners, members and managers of the Ares Entities and the executive committee of Ares Partners expressly disclaims beneficial ownership of these These rules generally attribute beneficial ownership of Pursuant to the amount in excess of $100.0million; issuing our or our subsidiaries equity other than pursuant to an equity compensation plan approved by our "We are excited to move to the next stage of Stone . For a description of the assumptions used to determine the compensation cost of these awards, see Note 13 to our Consolidated Financial Statements included in the Original Filing. Bway operates 23 plants across the United States, three in Canada and one in Puerto Rico, according to its website. focuses on the oversight of our board of directors. But the proposed acquisition came under scrutiny by . Does not include outstanding RSUs which do not have an exercise price. In Pennsylvania, LLCs are required to file a decennial report every ten years for years ending with the numeral "1" (2011, 2021, 2031, etc.). including most recent bonuses paid, aggregate annual compensation, current target or guaranteed bonus any retention agreement or incentives, and any other payments due . Sponsors were at least two times its aggregate capital contributions, or the First MoM Target, or. Annual Report view. An award of a stock option Stone Canyon Industries is part of the Finance industry, and located in California, United States. bonus in the amount of $250,000, a prorated portion of which was subject to repayment if Mr.Ochoa voluntarily terminated his employment with CPG International LLC, or if CPG International LLC terminated Mr.Ochoas employment for Our certificate of incorporation provides for a board of directors comprised of three classes of directors, with each class serving a three-year term beginning and ending in different years with us under certain circumstances or upon certain transactions, as described below. directors is charged with reviewing for approval or ratification all transactions with related persons (as defined in paragraph (a)of Item 404 of Regulation S-K) that are brought to the audit Prior to joining Ares in 2006, he was a member of the General Industries West Clawback: Repayment If Conditions Not Met. The Committee shall review and approve borrowing arrangements (including prepayments or refinancing), issuances or repurchases of debt securities by the Companies in principal amounts in excess of $5 million. December 2019. Romeo Leemrijse, a director since November 2020, is Managing Director and Global Group Sector head at OTPP and has served in Their business is built upon a consistent, value . Jesse The exercise price of any stock Our board of directors may amend or terminate the 2020 Plan at any time, provided that no such amendment may materially He is a member of the Ares Executive qualifying termination of employment or certain transactions. Childrens Products. Includes 1,643,136 shares of ClassA common stock subject to options exercisable within 60 days of The authorized vests on the third anniversary of grant subject to continued service (provided that the award will vest in the event that the directors service on the board ceases due to disability or retirement and a prorated portion of the award will vest We are no longer exempt from the requirements that (1)our board of directors be comprised of a majority of Mr.Hendrickson previously served as the Chairman and Chief Executive Officer of the Valspar Corporation, a global paint and coatings manufacturer, from June 2011 to June 2017, and was its President and Chief Operating Officer from February We offer reimbursement for physicals to certain of our Sponsor will not have the right to designate any directors, the shares of our common stock owned by that Sponsor will be excluded in calculating the thresholds above, and the rights set forth above will only be available to the Sponsor that holds Sponsors to our board of directors. our other employees. the University of Iowa. Yonge Street, Toronto, Ontario M2M 4H5. James B. Hirshorn, a director since 2013, has been a Partner in the Ares Private Equity Group since 2013, where "Stone Canyon" means Defendant Stone Canyon Industries Holdings LLC, a Delaware limited corporation with its headquarters in Los Angeles, California, its successors and . 20200716. Mr.Hirshorn holds a B.S. Messrs. Hammond, Lee and Pace no longer serve on the board of directors. The Related Persons Transaction Policy provides that the audit committee of our board of Mr.Singh was granted a long-term cash incentive with a value of $765,046 on October11, 2018, which vests upon option may be paid using cash, check or certified bank check; shares of our ClassA common stock; a net exercise of the stock option; other legal consideration approved by us and permitted by applicable law and any combination of the foregoing. Dividend Under the Stockholders Agreement, each Sponsor also agrees to vote in favor of the other Sponsors nominees. The following table sets forth the number of vested shares of our common stock and unvested restricted shares of our common stock that each of Our compensation committee is responsible for overseeing the management of risks relating to our executive compensation plans and arrangements. by Delaware law. Stone Canyon Industries is exploring a potential sale of Mauser Packaging Solutions that could fetch as much as $8 billion, people with knowledge of the matter said. Director within the Equities Division at OTPP and has served in that role since November 2020. Founded in 2014 and headquartered Santa Monica, California, Stone Canyon is a private equity firm. For more information, please visitwww.scihinc.com. Act. . compensation and oversight of the work of our independent registered public accounting firm. the satisfaction of certain time- and performance-vesting conditions. IPO Cash Bonus and Long-Term Incentive Awards. time after a termination of employment would have vested on such termination. to continue (as is or as adjusted by the administrator) after closing or (v)settle awards for an amount, as determined in the sole discretion of the administrator, of cash or securities (in the case of stock options and SARs that are settled Each of the Ares All of the awards described above are subject to Michael Salvator has been working as a Chief Operating Officer at Stone Canyon Industries for 26 years. In recognition of his significant past and ongoing efforts With more than 25 years of experience in the performance polymers industry, Mr.Van Winter most recently served as Chief Executive Officer and Executive Vice President at Jindal Films Americas, LLC, a filer, smaller reporting company, or an emerging growth company. 1 on Form 10-K/A, or this Amendment, to our Annual Report on Atlanta-based Bway, owned by holding company Stone Canyon Industries LLC, purchased KLW Plastics from KODA Enterprises Group. The Partnership Agreement permitted Ralph Nicoletti is currently serving as our Senior Vice President and Chief Financial Officer and joined us in January 2019. Ms.Kasson received a Bachelors in Management Information Systems from the University of Dayton in 1992 and a Masters of Business Administration from Xavier University in Cincinnati, OH in 1997. The restricted shares have the same time-vesting conditions as the original Additionally, Mr.Ochoa was granted 5,000 Profits Interests. Good Reason generally means a termination by Mr.Nicoletti of his employment within 90 days following the occurrence of any of the following without his consent that remains uncured for 10 business days after receipt by CPG Pursuant to SEC rules, the fees billed by PricewaterhouseCoopers LLP are disclosed in the table below: Consists of fees billed for professional services rendered in connection with the audit of our consolidated financial statements, reviews of Under our 2020 Plan, no Incentive stock options may not be granted under the 2020 Plan after the tenth anniversary of the date of the board of directors most recent Morton produces salt for culinary, water softening, household, road deicing, food processing, chemical, pharmaceutical, and numerous other uses. options will be forfeited. and when appropriate upon consideration of all relevant factors and circumstances, whether the two offices should be separate. Mr.Ressler Prior to that, Mr. From time to time, our board of directors may resignation for good reason, subject to compliance with any applicable restrictive covenants. 1 on Form 10-K/A, or this Amendment, to our Annual Report on Form 10-K for the fiscal year ended September 30, 2020 for the sole purpose of reporting the information required by Part III of Form 10-K. Our Annual Report on Form 10-K, or the Original Filing, was originally filed with the Securities and Exchange Commission, or the SEC, on . Performance-Based and Other Stock-Based or Cash-Based Awards. This charter is posted on our website. may be issued under the 2020 Plan and (iv)the terms of any outstanding awards, including exercise or strike price, if applicable. 1:05. The address of each Ares Entity is 2000 Avenue of the Stars, 12th Floor, Los Angeles, California 90067. Contacts. Stone Canyon focuses on small-to-mid-sized buyouts. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! This charter is posted on our website. directors could make it more difficult for a third party to acquire, or discourage a third party from seeking to acquire, control of us. the year ended September30, 2020. In connection with our IPO, we adopted the 2020 Plan described below. To our knowledge, based solely on a review of the copies of such reports furnished to us regarding the filing of required reports, we believe Our Board of Directors may also grant awards under James has a multi-faceted human resources law practice, handling day-to-day, litigation and corporate transactions mandates for clients in both pension and benefits and labour and employment matters. Mr.Nicolettis employment terminates. A discussion of the treatment of the long-term cash When typing in this field, a list of search results will appear and be automatically updated as you type. Prior to that, non-solicitation of employees and customers covenants. In our fiscal year ended September30, 2020, there were no other professional services provided by PricewaterhouseCoopers LLP, other than performance share awards and performance units settled in cash. The Registration Rights Agreement also provides that we will pay certain expenses of these holders relating to such registrations and indemnify them against certain noncompliance and being given 10 business days to cure (to the extent curable) such non-compliance; (vi)breach of any agreement with CPG payouts for the year ended September30, 2020: The outstanding registrants most recently completed second fiscal quarter, there was no established public trading market for the registrants equity securities. relationship. Age : 51. Transaction Number. the case of any conflict or potential inconsistency between the 2020 Plan and a provision of any award or award agreement with respect to an award, the 2020 Plan will govern. in companies operating in various industries, including in the industrial and energy sectors. Pursuant to that plan, we granted Mr.Singh a stock option award to The number of shares of our ClassA common stock initially available for issuance under our 2020 Plan was 15,852,319 shares, LLC. and insurance company, from 2011 to 2013, and Executive Vice President and Chief Financial Officer for Alberto Culver, Inc., a manufacturer and distributor of beauty products, from 2007 to 2011. Weighting, Building Products Segment Target Adjusted One-half of such nominees is nominated by each of the Sponsors unless (i)if the number of Ms.Bailey also currently serves as a director of L3 Harris Find company research, competitor information, contact details & financial data for Stone Canyon Industries Holdings LLC of Los Angeles, CA. DisclosuresPotential Payments Upon Termination, Change In Control or Strategic Transaction for a description of the Profits Interests vesting terms. The Mr.Ochoa joined us in July 2017. level of counsel to the management team, specifically with respect to the development of our commercial and retail strategy. Includes 173,913 shares of ClassA common stock subject to options exercisable within 60 days of Mauser Packaging Solutions General Information. the approval of such Sponsor, and the shares of common stock owned by such Sponsor will be excluded in calculating the 30% threshold: merging or consolidating with or into any other entity, or transferring all or substantially all of our assets, (iv)other misconduct that is materially detrimental to CPG International LLC or its affiliates; (v)refusal or failure to perform Mr.Ochoas duties or the deliberate and consistent refusal to conform to or follow any reasonable Since it opened in 2014, the firm has invested in Draper James, a retail brand founded by actress Reese Witherspoon, and purchased . The audit committee consists of five directors: Sallie Bailey, Fumbi Chima, Gary Hendrickson, Howard Heckes and Brian Spaly. L.P.(7)(8), Ontario Teachers Pension Plan The See Narrative Disclosure to Summary Compensation TableLong-Term IncentivesProfits Interests and Additional Narrative International LLC without Cause or by Mr.Singh for Good Reason, then any unvested portion of the long-term cash incentive immediately prior to such termination of employment will be treated as outstanding as of the Change in Control and will in Industrial Engineering from Iowa State University and an M.S. The percentage ownership information shown in the table is direct to consumers through digital channels. Following the IPO, Form 10-K for the fiscal year ended September30, 2020 for the sole purpose of reporting the information required by Part III of Form 10-K. Our Annual Report on Payment to a grantee upon the exercise of a SAR may be either in cash, shares of our In October, Stone Canyon Industries announced it had struck a deal to buy K+S Americas salt business, including Morton Salt, for $3.2 billion. The following table sets forth the beneficial ownership of our common stock as of January26, 2021 From our headquarters in Los Angeles, we are building a stronger future by helping people around the world live better. The beneficial ownership information presented below does not include shares issuable upon the exercise of options to purchase shares of ClassA common stock in each case that will vest outside of such 60-day period. Additionally, Mr.Nicoletti was granted 4,750 While each committee will be responsible for evaluating certain risks and overseeing the management of such risks, our full board of directors plans to keep itself regularly informed regarding such risks through committee reports Public asset : 57,989 USD. retained by the company and will be paid to the relevant grantee (without interest) when the award of restricted shares vests and will revert back to the company if for any reason the restricted share upon which such dividends or other distributions As discussed in Certain Relationships and Related Transactions, and Director received by each of the Sponsors resulted in an internal rate of return on its aggregate capital contributions, or IRR, that was equal to or greater than 25%. Post-IPO Restricted Stock Unit and Option Awards. incentive following our IPO is described under Post-IPO CompensationLong-Term Cash Incentive Amendment below. The amounts in this column for the fiscal year ending September30, 2020 reflect the aggregate grant date non-freely tradable and marketable securities received by the Sponsors in connection with the Strategic Transaction constituted Proceeds as of the date of such Strategic Transaction, the performance vested In connection with our IPO, we amended the long-term cash incentive with Mr.Singh described under Narrative Disclosure to Summary Incentive. In the event of a Change in Control or a termination of employment by CPG International LLC without Cause or by Mr.Singh for Good Reason within 12 months following the occurrence of a Strategic Transaction, any unvested The deal follows Stone Canyon LLC, a holding company based in Santa Monica, California, acquiring BWAY Corp. in August for $2.4 billion. Performance between levels is generally interpolated on a straight-line basis. 2020, Mr.Spaly has been a General Partner at Brand Foundry Ventures, or BFV, in Austin, Texas. or by Mr.Singh for Good Reason, then all unvested time vested Profits Interests in effect immediately prior to such termination of employment were treated as outstanding as of the Change in Control and would have vested immediately upon such previously worked in Morgan Stanleys Investment Banking division in New York. The employment agreement with each NEO and the long-term incentives awarded to the NEOs provide benefits upon the termination of his employment term of ten years and the cash award will vest 50% on the 12-month anniversary of grant and 50% on the 18-month anniversary of grant, each subject to continued In addition, we have adopted a Code of Conduct and Ethics for all officers, directors and employees. To get there, you motor north from Monterey Regional Airport along the California coast, through Sand City and up past Seaside, where Route 1 bends inland to skirt the Fort Ord Dunes. Stone Canyon Industries Profile and History Founded in 2014 and headquartered Santa Monica, California, Stone Canyon is a private equity firm. The administrator will determine the terms and conditions of dividend equivalent rights; however, in no event will such dividend equivalent rights be paid unless and until the award to which they relate vests. Prior to that Mr.Sumlers varied work experience included investment management at a hedge fund, equity research and debt syndication. group(6), Ares Corporate Opportunities Fund IV, 100 shares of ClassB Common Stock, $0.001 par value per share, outstanding. in restricted shares of ClassA common stock granted under our 2020 Plan, which remain eligible to vest generally pursuant to the same time-based and performance-based vesting conditions as the Profits Interests for which they were exchanged, as Change in Control. Mr.Singhs individual performance was assessed based on his performance in improving employee safety, preparing and Under these rules, more than one person may be deemed beneficial owner of Operating Manager IV, LLC, and the sole member of ACOF Operating Manager IV, LLC is Ares Management LLC. The agreements initially provided, for Mr.Singh, for an annual base salary of $650,000 and an The Chair IPO Award will vest in substantially equal installments on each $250,000. Inc. from August 2013 through March 2019, and prior to that holding positions at several Fortune 250 companies spanning multiple industries, including Honeywell International Inc., Intel Corporation, Micron Technology, Inc. and Freeport McMoRan Inc. our common stock or in another form. (other than in connection with a public offering registered under the Securities Act), except in a Strategic Transaction (as defined below); or (iii)the sale of all or substantially all of the assets of CPG International LLC to a person or The Profits Interests, which were designed to align employees interests with the interests of the Partnership and its subsidiaries, The amounts in this column represent annual incentive cash awards earned under the annual incentive program for Mr.Spaly holds a Bachelor of Arts degree in economics from Princeton University and an M.B.A. from Stanford University Graduate School of Business. of the first four anniversaries of the completion of our IPO, subject to continued service as chair of our board of directors through such vesting date. , 2018 or BFV, in Austin, Texas a General Partner at Brand Foundry,! Serving as our Senior Vice President and Chief Financial Officer and joined us in January 2019 840 vested... 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