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DATE & TIME
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VIRTUAL MEETING
(LIVE INTERACTIVE WEBCAST) |
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RECORD DATE
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Thursday, June 19, 2025
at 9:00 a.m., Eastern Time |
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www.virtualshareholdermeeting.com/DLTR2025
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April 17, 2025
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Proposal
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Voting Options
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Board
Recommendation |
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More
Information |
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Proposal No. 1
Election of Directors |
| | FOR, AGAINST, or ABSTAIN for each Director Nominee | | | FOR each Nominee on the proxy card | | | Page 78 | |
Proposal No. 2
Advisory Vote on NEO Compensation |
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FOR, AGAINST, or ABSTAIN
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FOR
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| | Page 79 | |
Proposal No. 3
Ratification of Appointment of Independent Auditors |
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FOR, AGAINST, or ABSTAIN
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FOR
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| | Page 80 | |
Proposal No. 4
Approval of 2025 Employee Stock Purchase Plan |
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FOR, AGAINST, or ABSTAIN
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FOR
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| | Page 83 | |
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Governance or Compensation Item
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Dollar Tree’s Practice
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Board Composition, Leadership and Operations
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Director independence
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Greater than 90%
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Standing Board committee independence
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100%
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Robust Lead Independent Director Role or Independent Chair
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Yes
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Majority voting standard in uncontested director elections
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Yes
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Director resignation policy
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Yes
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Board oversight of Company strategy and risks
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Yes
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Annually-elected Board
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Yes
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Average director age
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65
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Average director tenure
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2.8 years
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Directors attending fewer than 75% of meetings
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None
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Annual Board, committee and individual director evaluation process
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Yes
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Independent directors meet without management present
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Yes
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Number of Board meetings held in fiscal 2024
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4
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Total number of Board and committee meetings held in fiscal 2024
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35
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Sustainability and Corporate Responsibility
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| Dedicated Board Committee provides oversight of sustainability, corporate responsibility and human capital management | | | Yes | |
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Environmental Policy
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Yes
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Human Rights Policy
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Yes
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Occupational Health and Safety Policy
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Yes
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Political Contribution and Expenditure Policy Statement
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Yes
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Sustainability and Social Impact Report
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Yes
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| Climate related disclosures aligned with Taskforce on Climate-Related Financial Disclosures (TCFD) (included in Sustainability and Social Impact Report) | | | Yes | |
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Vendor code of conduct
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Yes
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Governance or Compensation Item
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Dollar Tree’s Practice
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Other Governance Practices
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Code of conduct for directors, officers and associates
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Yes
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Shareholder engagement policy
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Yes
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Anti-hedging policy
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Yes
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Robust stock ownership policies
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Yes
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Shares pledged by officers and directors
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None
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Family relationships
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None
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Independent auditor
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KPMG LLP
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Compensation Practices
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| Executive compensation programs designed to reward performance, incentivize growth and drive long-term shareholder value | | | Yes | |
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Robust clawback policy
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Yes
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Incentive awards based on challenging performance targets
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Yes
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Significant portion of compensation at risk
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Yes
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Annual risk assessment of compensation policies and practices
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Yes
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Frequency of say on pay advisory vote
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Annual
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Independent compensation consultant
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Yes
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Double-trigger change-in-control provisions
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Yes
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Policy for timing of annual grant of incentive awards
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Yes
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Repricing of underwater options
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No
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Excessive perks
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No
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Director Name
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Current or Former Principal Occupation
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Director
Since |
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Independent
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Public
Boards (including Dollar Tree) |
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Michael C. Creedon, Jr.
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| | Chief Executive Officer of Dollar Tree, Inc. | | | | | 2025 | | | | | | No | | | | | | 1 | | |
| William W. Douglas III | | |
Former Executive Vice President, Supply Chain
of Coca-Cola Enterprises, Inc. |
| | | | 2025 | | | | | | Yes | | | | | | 4 | | |
| Cheryl W. Grisé | | | Former Executive Vice President of Northeast Utilities and Chief Executive Officer of its principal operating companies. | | | | | 2022 | | | | | | Yes | | | | | | 3 | | |
| Daniel J. Heinrich | | |
Former Chief Financial Officer of The Clorox Company
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| | | | 2022 | | | | | | Yes | | | | | | 1 | | |
| Paul C. Hilal | | |
Founder and Chief Executive Officer of Mantle Ridge LP
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| | | | 2022 | | | | | | Yes | | | | | | 3 | | |
| Timothy A. Johnson | | |
Chief Financial Officer and Chief Administrative
Officer of Victoria’s Secret & Co. |
| | | | 2025 | | | | | | Yes | | | | | | 1 | | |
| Edward J. Kelly, III | | | Retired Chairman of the Institutional Clients Group of Citigroup, Inc. | | | | | 2022 | | | | | | Yes | | | | | | 3 | | |
| Jeffrey G. Naylor | | | Former Chief Financial Officer of the TJX Companies | | | | | 2018 | | | | | | Yes | | | | | | 3 | | |
| Diane E. Randolph | | |
Former Chief Information Officer of Ulta Beauty
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| | | | 2023 | | | | | | Yes | | | | | | 2 | | |
| Bertram L. Scott | | |
Former President and Chief Executive Officer of
Affinity Health Plan |
| | | | 2022 | | | | | | Yes | | | | | | 4 | | |
| Stephanie P. Stahl | | |
Founder of Studio Pegasus LLC and former
Global Marketing and Strategy Officer of Coach, Inc. |
| | | | 2018 | | | | | | Yes | | | | | | 4 | | |
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Director Skills and Experience
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Key Qualifications for Dollar Tree
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Executive Leadership
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Dollar Tree is a large international company. Our directors with executive leadership experience have served as an executive officer of a large public or private company.
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Financial Management
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Dollar Tree is a publicly traded company that manages its resources responsibly and has an obligation to make accurate financial disclosures. We identified the directors with chief financial officer, chief accounting officer or similar experience or experience on a board overseeing finance, accounting or financial reporting functions, including those directors who qualify as an “audit committee financial expert” under applicable SEC rules.
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Consumer/Retail Industry
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Dollar Tree operates over 8,500 stores that provide retail products to customers in communities across North America. We identified the directors with executive level experience with companies in the consumer or retail industries or experience on the board of directors of a company in the consumer or retail industry.
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Marketing/Advertising/ Communications
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Our Dollar Tree brand and the branded products sold in our stores are trusted and valued by our customers. We identified the directors with executive level experience in marketing consumer products or experience on the board of directors of a marketing or consumer products company.
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Strategic Planning
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Our strategic vision and our ability to execute on the vision is important to our ability to grow and deliver long-term value to our shareholders. We identified the directors with experience in developing and executing long-term strategic plans.
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Operations
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Dollar Tree operates over 8,500 retail stores across North America. We identified the directors with experience on the board of directors of a company with large retail operations.
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Human Capital Management
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Dollar Tree has over 100,000 associates who are a vital resource in the operation of our company. We identified the directors with executive level experience in human resources management or managing a large workforce or experience on a board of directors overseeing those functions.
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Information Technology/ Cybersecurity
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Dollar Tree leverages information technology tools to operate our business and enhance our customer’s experience and we continue to invest in tools to improve our performance and the security of our information technology systems. We identified the directors with executive level experience in the fields of information technology and cybersecurity or experience on the board of directors of a company that provides information technology or cybersecurity products or services.
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Risk Management
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Dollar Tree is subject to a variety of risks that we work to manage and mitigate through diligent action and thoughtful leadership. We identified the directors with executive level experience in enterprise risk management or on a board of directors overseeing risk management functions.
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Global Sourcing/Supply Chain
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Dollar Tree merchandise is sourced from domestic and international vendors around the world using a network of distribution centers to deliver a high volume of products to our stores. We identify the directors with experience on the board of directors of a company with global supply chain operations.
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Creedon
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Douglas
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Grise´
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Heinrich
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Hilal
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Johnson
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Kelly
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Naylor
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Randolph
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Scott
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Stahl
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Director Skills and Experience
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Executive Leadership
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•
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•
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•
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•
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•
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•
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•
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•
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•
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•
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•
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Financial Management
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•
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•
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•
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•
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•
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•
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Consumer/Retail Industry
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•
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•
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•
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•
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•
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•
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•
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•
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•
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Marketing/Advertising/Communications
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•
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•
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Strategic Planning
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•
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•
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•
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•
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•
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•
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•
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•
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•
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•
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•
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Operations
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•
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•
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•
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•
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•
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•
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•
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•
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Human Capital Management
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•
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•
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Information Technology/Cybersecurity
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•
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•
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•
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Risk Management
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•
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•
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•
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•
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•
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•
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Global Sourcing/Supply Chain
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•
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•
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•
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•
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Director Qualifications
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Dollar Tree Independent Director
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•
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•
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•
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•
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•
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•
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•
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•
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•
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•
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Dollar Tree Board Tenure (years)
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<1
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<1
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3
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3
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3
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<1
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3
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7
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<2
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3
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7
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Other Public Board Experience
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•
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•
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•
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•
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•
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Demographic Background
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Age
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49
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64
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72
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69
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58
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58
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72
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66
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70
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74
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58
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MICHAEL C. CREEDON, JR.
Chief Executive Officer of Dollar Tree, Inc. | Age 49
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Director since 2025
Board Committees:
▪
None
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Other Public Company Board Experience
▪
None
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Key Skills, Experience and Expertise:
Mr. Creedon brings to our Board substantial executive leadership and retail operational experience. As the former Chief Operating Officer of the Company, he has significant experience in executing the Company’s growth strategy as a leader in value retailing.
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Biography
Mr. Creedon has served as the Chief Executive Officer of Dollar Tree, Inc. since December 18, 2024. He also served as interim Chief Executive Officer of the Company from November 2024 to December 2024 and as Chief Operating Officer of the Company from October 2022 to November 2024. Prior to joining the Company, Mr. Creedon held several executive leadership roles with Advance Auto Parts, Inc., including Executive Vice President of U.S. Stores from March 2021 to October 2022, President, U.S. Stores from March 2020 to March 2021, and President, North Division from February 2017 to March 2020. Before joining Advance Auto Parts, Inc., Mr. Creedon held leadership roles at Tyco International from September 2010 to November 2013 and ADT Security from October 2004 to September 2010. |
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WILLIAM W.
DOUGLAS III
Former Executive Vice President and Chief Financial Officer of Coca-Cola Enterprises, Inc. | Age 64
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Director since 2025
Independent
Board Committees:
▪
None
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Other Public Company Board Experience
▪
SiteOne Landscape Supply (since 2016)
▪
Coca-Cola HBC (since 2016)
▪
Monster Beverages Corporation (since 2025)
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Key Skills, Experience and Expertise:
Mr. Douglas brings to our Board substantial domestic and international retail experience. He has held leadership roles in IT, finance, and supply chain. He is an esteemed financial leader who provides a strong understanding of today’s competitive retail landscape.
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Biography
Mr. Douglas is the former Chief Financial Officer of Coca-Cola Enterprises, Inc. He held that position and other senior leadership positions at Coca-Cola Enterprises, Inc. and Coca-Cola HBC from 1985 to 2016. He currently serves on the Board of Directors of SiteOne Landscape Supply, Coca-Cola HBC, and Monster Beverages Corporation. |
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CHERYL W. GRISÉ
Former Executive Vice President of Northeast Utilities and CEO of its principal operating companies | Age 72
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Director since 2022
Independent
Board Committees:
▪
Compensation, Chair
▪
Nominating & Governance
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Other Public Company Board Experience
▪
ICF International, Inc. (2012 to 2024)
▪
PulteGroup, Inc. (since 2008)
▪
Metlife, Inc. (since 2004)
▪
Pall Corporation (2007 to 2015)
▪
Dana Holding Corporation (2002 to 2008)
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Key Skills, Experience and Expertise:
Ms. Grisé brings to our Board substantial executive leadership experience with a large consumer facing business, a strong governance and legal background and an unusually solid and strong record of leadership in public company boardrooms in many different sectors. She was named by the National Association of Corporate Directors (NACD) to their Top 100, a list of the top 100 most influential directors in the U.S.
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Biography
Ms. Grisé is the former Executive Vice President of Northeast Utilities (now known as Eversource Energy) and Chief Executive Officer of its principal operating companies. She held those positions and other senior leadership positions at Northeast Utilities from 1998 to 2007. She currently serves on the Board of Directors of Pulte Group, Inc. and Metlife, Inc. |
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DANIEL J. HEINRICH
Former Chief Financial
Officer of The Clorox Company | Age 69 |
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Director since 2022
Independent
Board Committees:
▪
Audit
▪
Finance, Chair
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Other Public Company Board Experience
▪
Lowe’s Companies, Inc. (2021 to 2023)
▪
Aramark (2013 to 2023)
▪
Ball Corporation (2016 to 2022)
▪
Edgewell Personal Care Company (2012 to 2022)
▪
Advanced Medical Optics (2007 to 2009)
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Key Skills, Experience and Expertise:
Mr. Heinrich brings to our Board his substantial experience as a director and executive at consumer-packaged goods companies and consumer-facing businesses. He has extensive executive-level financial knowledge and experience and has developed strong expertise in the areas of strategic business development, risk management, mergers and acquisitions, accounting and information technology. In addition, our Board has determined that Mr. Heinrich qualifies as an Audit Committee financial expert.
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Biography
Mr. Heinrich is the former Chief Financial Officer of The Clorox Company. He held that position and other senior leadership positions at The Clorox Company from 2001 to 2011. Prior to that, he served as the Senior Vice President and Treasurer of Transamerica Finance Company from 1996 to 2001; Senior Vice President, Treasurer and Controller of Granite Management Company from 1994 to 1996; Senior Vice President, Controller and Chief Accounting Officer of First Nationwide Bank from 1986 to 1994; and Senior Audit Manager at Ernst & Young from 1978 to 1986. |
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PAUL C. HILAL
Founder and Chief Executive Officer of Mantle Ridge LP | Age 58
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Director since 2022
Independent
Vice Chair of the Board
Board Committees:
▪
Compensation
▪
Finance
▪
Nominating & Governance
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Other Public Company Board Experience
▪
CSX Corporation (since 2017)
▪
Air Products and Chemicals, Inc. (since 2025)
▪
Aramark (2019 to 2023)
▪
Canadian Pacific Railway Limited (2012 to 2016)
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Key Skills, Experience and Expertise:
Mr. Hilal brings to our Board substantial experience enabling companies to successfully effect value-creating change. His experience as a value investor, capital allocator and engaged steward during corporate transformations, in addition to his knowledge of the Company, enables him to contribute to the Board and its mission in unique and extremely valuable ways. Additionally, Mr. Hilal’s experience serving on the boards of multiple public companies allows him to provide key strategic perspectives to the Board.
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Biography
Mr. Hilal is the Founder and Chief Executive Officer of Mantle Ridge LP, an investment fund. Prior to launching Mantle Ridge LP, Mr. Hilal served as a Partner and Senior Investment Professional at Pershing Square Capital Management from 2006 to 2016, Managing Partner at Caliber Capital Management from 2002 to 2005, Partner at Hilal Capital Management from 1998 to 2001 and Acting Chief Executive Officer of WorldTalk Communications Corporation from 1999 to 2000. Mr. Hilal currently serves on the Board of Directors of CSX Corporation and Air Products and Chemicals, Inc. |
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TIMOTHY A. JOHNSON
Former Chief Financial and Administrative Officer of Victoria’s Secret & Company | Age 58
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Director since 2025
Independent
Board Committees:
▪
None
|
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Other Public Company Board Experience
▪
The Aaron’s Co. (2021 to 2024)
▪
Brinker International, Inc. (since 2025)
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| | | |
Key Skills, Experience and Expertise:
Mr. Johnson has more than 30 years of retail leadership experience. He is an esteemed financial leader who provides a strong understanding of today’s competitive retail landscape.
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Biography
Mr. Johnson is the former Chief Financial and Administrative Officer of Victoria’s Secret & Company, a position he held from 2021 to 2025. He previously served as Chief Financial and Administrative Officer of Big Lots Incorporated from 2015 to 2019 and Chief Financial Officer from 2012 to 2015, and he held various other executive roles from 2000 to 2012. Earlier in his career, he held senior level roles at The Limited, Inc. and began his career in public accounting as a Certified Public Accountant for Coopers & Lybrand. Mr. Johnson is the Managing Director of his own consulting firm, Fairway Consulting LLC. He currently serves on the Board of Directors of Brinker International, Inc. |
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EDWARD J. KELLY, III
Retired Chairman of the Institutional Clients Group of Citigroup, Inc. | Age 72
|
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Director since 2022
Independent
Chairman of the Board
Board Committees:
▪
Audit
▪
Nominating & Governance, Chair
|
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Other Public Company Board Experience
▪
Citizens Financial Group, Inc. (since 2019)
▪
Metlife, Inc. (since 2015)
▪
CSX Corporation (2002 to 2019)
▪
XL Group (2014 to 2018)
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Key Skills, Experience and Expertise:
Mr. Kelly brings to our Board business, strategic, financial and legal acumen and extensive leadership expertise. His experience includes key roles in building a client-centric model and managing the global operations of a major financial institution. In addition, he provides a local perspective as a long-time Virginia resident and lecturer at the University of Virginia School of Law.
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Biography
Mr. Kelly is the Former Chairman of the Institutional Clients Group of Citigroup, Inc. He served in that role and other senior leadership positions at Citigroup, Inc. from 2008 to 2014, including Chairman of Global Banking, Vice Chairman, Chief Financial Officer and Head of Global Banking, and President and Chief Executive Officer of Citi Alternative Investments. Prior to Citigroup, Mr. Kelly served as Managing Director of The Carlyle Group from 2007 to 2008, Chairman and Chief Executive Officer of Mercantile Bankshares Corporation from 2001 to 2007, Managing Director of J.P. Morgan from 1995 to 2001, General Counsel of J.P. Morgan from 1994 to 1995 and Partner at Davis Polk & Wardwell, LLP from 1988 to 1994. |
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JEFFREY G. NAYLOR
Former Chief Financial
Officer of The TJX Companies | Age 66 |
| |
Director since 2018
Independent
Board Committees:
▪
Audit, Chair
▪
Finance
|
| |
Other Public Company Board Experience
▪
Synchrony Financial (since 2014)
▪
Wayfair (since 2018)
▪
Emerald Holding, Inc. (2013 to 2021)
▪
Fresh Market, Inc. (2010 to 2016)
|
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| | | |
Key Skills, Experience and Expertise:
Mr. Naylor brings to our Board extensive financial and accounting experience gained through his roles as the chief financial officer, director and audit committee chair of multiple large public companies. Mr. Naylor’s experience working as an executive at multiple discount retailers allows him to contribute valuable insight and perspectives in the areas of strategic business development, risk management, accounting and information technology. In addition, our Board has determined that Mr. Naylor qualifies as an Audit Committee financial expert.
|
| |||
|
Biography
Mr. Naylor is the former Chief Financial Officer of The TJX Companies. He held that position and other executive leadership positions at The TJX Companies from 2004 to 2014, including Senior Executive Vice President, Chief Financial and Administrative Officer and Senior Executive Vice President, and Chief Administrative and Business Development Officer. Prior to that, he served as the Chief Financial Officer of Big Lots, Inc. from 2001 to 2004 and earlier in his career he held senior level positions with Limited Brands, Sears, Roebuck and Co. and Kraft Foods, Inc. Mr. Naylor began his career as a Certified Public Accountant with Deloitte Haskins & Sells. Mr. Naylor is also the Managing Director of his consulting firm, Topaz Consulting LLC. He currently serves on the Board of Directors of Synchrony Financial and Wayfair, Inc. |
|
|
DIANE E. RANDOLPH
Former Chief Information Officer of Ulta Beauty | Age 70
|
| |
Director since 2023
Independent
Board Committees:
▪
Audit
▪
Finance
|
| |
Other Public Company Board Experience
▪
Shoe Carnival, Inc. (since 2021)
▪
Core Mark Holding Company (2020 to 2021)
|
|
| | | |
Key Skills, Experience and Expertise:
Ms. Randolph brings to our Board substantial experience in the areas of information technology and business transformation, in addition to her experience serving as a director on boards of several public and private companies. Ms. Randolph will provide valuable insight and perspective as the Company develops and implements new technologies and systems.
|
| |||
|
Biography
Ms. Randolph is the Former Chief Information Officer of Ulta Beauty. She held that position from 2014 to 2020. Prior to that, she served as the Chief Information Officer of Reitmans Canada Limited from 2008 to 2014 and Director of Merchandise Business Process from 2005 to 2008. Earlier in her career she served as Vice President of Software Development at Aptos, LLC (formerly known as STS Systems). Ms. Randolph currently serves on the Board of Directors of the Shoe Carnival, Inc. |
|
|
BERTRAM L. SCOTT
Former President and Chief Executive Officer of Affinity Health Plan | Age 74
|
| |
Director since 2022
Independent
Board Committees:
▪
Audit
▪
Sustainability and CSR
|
| |
Other Public Company Board Experience
▪
Equitable Holdings, Inc. (since 2019)
▪
Lowe’s Companies, Inc. (since 2015)
▪
Becton, Dickinson and Company (since 2002)
▪
AllianceBernstein (2020 to 2022)
|
|
| | | |
Key Skills, Experience and Expertise:
Mr. Scott brings to our Board his substantial corporate governance and business expertise, in addition to extensive experience serving as a director on the boards of several large, complex, publicly-traded companies, as well as serving as chair of several board committees. Mr. Scott draws on his professional experiences to provide perspective to the boards on which he serves with respect to development and the implementation of strategy, mergers and acquisitions, merger integration, and sales and marketing. In addition, the Board has determined that Mr. Scott qualifies as an Audit Committee financial expert.
|
| |||
|
Biography
Mr. Scott is a retired health care executive who formerly served as the President and Chief Executive Officer of Affinity Health Plan from 2012 to 2014. Prior to that, Mr. Scott served as the President, US Commercial at CIGNA Corporation from 2010 to 2011; and held multiple executive leadership roles at TIAA-CREF from 2000 to 2010, including President and Chief Executive Officer. Mr. Scott currently serves on the Board of Directors of Equitable, Lowe’s Companies, Inc. and Becton, Dickinson and Company. |
|
|
STEPHANIE P. STAHL
Former Global Marketing & Strategy Officer of
Coach, Inc. | Age 58 |
| |
Director since 2018
Independent
Board Committees:
▪
Nominating & Governance
▪
Sustainability and CSR, Chair
|
| |
Other Public Company Board Experience
▪
Carter’s Inc. (since 2022)
▪
Newell Brands, Inc. (since 2022)
▪
Edgewell Personal Care Company (since 2024)
▪
Knoll, Inc. (2013 to 2021)
|
|
| | | |
Key Skills, Experience and Expertise:
Ms. Stahl brings to our Board significant experience in marketing, data analytics, digital strategy, sustainability and brand development. Ms. Stahl has spent her career focused on the retail/consumer sector with extensive experience in developing, executing and optimizing major change initiatives including fundamental business transformation, mergers and acquisitions, and post-merger integrations. She also brings to our Board significant experience in corporate governance, investor engagement and ESG.
|
| |||
|
Biography
Ms. Stahl is the former Global Marketing and Strategy Officer of Coach, Inc. She held that position from 2012 to 2015. Prior to that, she served as the Chief Executive Officer of Tracy Anderson Mind & Body, LLC from 2010 to 2011, Executive Vice President, Chief Marketing Officer of Revlon, Inc. from 2003 to 2006, and Partner and Managing Director of The Boston Consulting Group, Inc. from 1998 to 2003. Ms. Stahl is also the Founder of her investment and advisory company, Studio Pegasus LLC. Ms. Stahl serves on the Board of Directors of Carter’s Inc., Newell Brands, Inc., and Edgewell Personal Care Company. |
|
|
•
the candidate’s ability to help the Board create shareholder wealth
|
| |
•
the need of the Board for directors having relevant knowledge and a diversity of experiences
|
|
|
•
the candidate’s ability to represent the interests of shareholders
|
| |
•
whether the candidate is a significant shareholder of the Company
|
|
|
•
the personal qualities of leadership, character and business judgment of the candidate
|
| |
•
whether the candidate is free of conflicts and has the time required for preparation, participation and attendance at meetings
|
|
|
Director
|
| |
Independent
Director |
| |
Audit
Committee |
| |
Compensation
Committee |
| |
Nominating
and Governance Committee |
| |
Finance
Committee |
| |
Sustainability
and CSR Committee |
|
|
Michael C. Creedon, Jr.
|
| | | | | | | | | | | | | | | | | | |
| William W. Douglas III | | |
■
|
| | | | | | | | | | | | | | | |
| Cheryl W. Grisé | | |
■
|
| | | | |
C
|
| |
■
|
| | | | | | |
| Daniel J. Heinrich | | |
■
|
| |
■
|
| | | | | | | |
C
|
| | | |
| Paul C. Hilal | | |
■
|
| | | | |
■
|
| |
■
|
| |
■
|
| | | |
| Timothy A. Johnson | | |
■
|
| | | | | | | | | | | | | | | |
| Edward J. Kelly, III | | |
■
|
| |
■
|
| | | | |
C
|
| | | | | | |
| Mary A. Laschinger | | |
■
|
| | | | |
■
|
| | | | | | | |
■
|
|
| Jeffrey G. Naylor | | |
■
|
| |
C
|
| | | | | | | |
■
|
| | | |
| Diane E. Randolph | | |
■
|
| |
■
|
| | | | | | | |
■
|
| | | |
| Bertram L. Scott | | |
■
|
| |
■
|
| | | | | | | | | | |
■
|
|
| Stephanie P. Stahl | | |
■
|
| | | | | | | |
■
|
| | | | |
C
|
|
| C = Committee Chair | | |
■ = Member
|
| | |
| |
Audit Committee
|
| |
10 meetings held in Fiscal 2024
|
| | ||||||
| |
Primary duties and responsibilities:
•
Financial Reporting and Internal Control Structure. Monitoring the Company’s legal compliance, financial reporting processes and internal control systems and overseeing the Company’s audit processes and strategies.
•
Independent Auditor. Appointing and evaluating the Company’s independent auditor, including pre-approving audit and non-audit fees to be paid to the independent auditor.
•
Internal Audit. Overseeing the Company’s internal audit processes, including participating in the planning of the audit efforts of the internal audit and finance departments.
•
Enterprise Risk Assessment. Reviewing the Company’s practices with respect to risk assessment and risk management, including financial, operational, information security, data privacy, business continuity and legal and regulatory risks.
•
Compliance and Ethics. Reviewing the Company’s legal compliance processes, including its ethics and compliance program, and disclosures and systems of internal controls relating to legal compliance and ethics.
•
Related Party Transactions. Reviewing and overseeing any related party transactions and the reporting of any related party transactions.
|
| | |||||||||
| |
Committee Members
|
| |
▪
Jeffrey Naylor (Chair)
▪
Diane Randolph
|
| |
▪
Daniel Heinrich
▪
Bertram Scott
|
| |
▪
Edward Kelly, III
|
| |
| | Independence and Financial Expertise: The Board, after review of each individual’s employment experience and other relevant factors, has determined that all members of the committee satisfy the applicable standards of the Nasdaq Stock Market and SEC regulations for membership on the Audit Committee and that Daniel Heinrich, Edward Kelly, III, Jeffrey Naylor and Bertram Scott are qualified as audit committee financial experts within the meaning of SEC regulations. | | |
| |
Compensation Committee
|
| |
7 meetings held in Fiscal 2024
|
| | ||||||
| |
Primary duties and responsibilities:
•
Executive Compensation. Establishing the compensation philosophy, structures and arrangements for our executive officers, including reviewing and approving our executive compensation benefits and programs.
•
Compensation of Directors. Reviewing and recommending to the Board the benefits and compensation plans and programs for the independent members of the Board.
•
Independent Compensation Consultant. Retaining independent compensation consultants to advise the Committee when appropriate.
•
Human Capital Management. Reviewing our initiatives with respect to hiring, human capital management, talent development and retention of key personnel.
•
Compensation Risk Assessment. Reviewing the Company’s incentive compensation policies and practices to assess whether such policies or practices encourage excessive risk-taking.
•
Executive Stock Ownership. Reviewing the executive officers’ stock ownership levels to ensure compliance with the Company’s stock ownership policy.
|
| | |||||||||
| |
Committee Members
|
| |
▪
Cheryl Grisé (Chair)
|
| |
▪
Paul Hilal
|
| |
▪
Mary Laschinger
|
| |
| | Independence: All members of the committee satisfy the independence standards of the Nasdaq Stock Market and SEC regulations. | | |
| |
Nominating and Governance Committee
|
| |
4 meetings held in Fiscal 2024
|
| | ||||||
| |
Primary duties and responsibilities:
•
Board Composition and Governance Structure. Reviewing and making recommendations to the Board on the size, composition and experience-related needs of the Board and overseeing our governance structure, including the structure of the Board and the governing documents and policies.
•
Board Candidates. Identifying, screening and recommending candidates to be nominated or appointed by the Board, including the re-nomination of any currently serving director.
•
Lead Independent Director. If the Chairman of the Board is not independent, recommending an independent director to be appointed as Lead Independent Director.
•
Committee Assignments. Reviewing periodically the membership and Chair of each committee of the Board and recommending committee assignments to the Board, including rotation or reassignment of any Chair or committee member.
•
Conflicts and Waivers. Reviewing and resolving requests for waivers from directors of any provision of the Company’s Code of Conduct and any actual or potential conflicts of interest between the Company and any member of the Board.
•
Annual Performance Evaluations. Establishing processes for use by each of the Board’s standing committees to conduct annual self-assessments and leading the Board in its annual performance self-assessment.
•
Shareholder Engagement. Overseeing the Company’s shareholder engagement policy, monitoring shareholder communications with the Board on topics related to governance and recommending to the Board any actions the Committee deems appropriate.
|
| | |||||||||
| |
Committee Members
|
| |
▪
Edward Kelly, III (Chair)
▪
Stephanie Stahl
|
| |
▪
Cheryl Grisé
|
| |
▪
Paul Hilal
|
| |
| | Independence: All members of the committee satisfy the independence standards of the Nasdaq Stock Market. | | |
| |
Finance Committee
|
| |
4 meetings held in Fiscal 2024
|
| | ||||||
| |
Primary duties and responsibilities:
•
Capital Structure. Reviewing and advising the Board on the Company’s capital structure and allocation.
•
Financial Transactions. Reviewing and advising the Board on significant financing and related transactions.
•
Real Estate Transactions. Reviewing and advising the Board on financial considerations relating to the leasing, purchase, sale, conveyance and other acquisition and disposition of stores, facilities and real property.
•
New Store Openings. Reviewing and evaluating new store openings and performance.
•
Annual Budget. Reviewing and advising the Board on the annual operating plan and capital budget and advising the Board on major capital projects and commitments.
•
Acquisitions and Divestitures. Reviewing and advising the Board on acquisitions and divestitures and supporting the Board’s review with management of previously effected acquisitions and divestitures.
|
| | |||||||||
| |
Committee Members
|
| |
▪
Daniel Heinrich (Chair)
▪
Diane Randolph
|
| |
▪
Paul Hilal
|
| |
▪
Jeffrey Naylor
|
| |
| | Independence: All members of the committee are independent. | | |
| |
Sustainability and Corporate Social Responsibility (CSR) Committee
|
| |
4 meetings held in Fiscal 2024
|
| | ||||||
| |
Primary duties and responsibilities:
•
Sustainability. Overseeing our strategies, policies and initiatives with respect to environmental issues and impacts.
•
Corporate Responsibility. Overseeing our strategies, policies and initiatives with respect to social issues and impacts, including those related to associate health and safety, workplace safety and violence prevention, workplace environment and culture, philanthropy, and community and governmental engagement and relations.
•
Human Capital Management. Overseeing our strategies and policies related to human capital management, including matters such as culture and belonging, recruiting and selection, and talent development and retention of the Company’s workforce.
•
Corporate Sustainability Disclosures. Reviewing our disclosures relating to sustainability, human capital and corporate responsibility topics, including our Sustainability and Social Impact Report.
•
Shareholder and Stakeholder Engagement. Overseeing our approach to shareholder and stakeholder engagement on sustainability and corporate responsibility matters.
•
Company Performance. Monitoring our performance against selected external sustainability and human capital indexes and internal metrics.
|
| | |||||||||
| |
Committee Members
|
| |
▪
Stephanie Stahl (Chair)
|
| |
▪
Mary Laschinger
|
| |
▪
Bertram Scott
|
| |
| | Independence: All members of the committee are independent. | | |
| |
Compensation Element
|
| | |
Non-Employee Director
Compensation |
| |
| | Retainer | | | |
•Annual cash retainer $150,000
•Annual equity award $150,000
•Total annual retainer $300,000
|
| |
| | Chairman(1) | | | |
•Annual cash retainer $100,000
•Annual equity award $100,000
•Total annual retainer $200,000
|
| |
| | Lead Independent Director(2) | | | | $50,000 | | |
| | Audit Committee Chair | | | | $40,000 | | |
| | Compensation Committee Chair | | | | $35,000 | | |
| | Nominating and Governance Committee Chair | | | | $35,000 | | |
| | Finance Committee Chair | | | | $30,000 | | |
| |
Sustainability and Corporate Social Responsibility
Committee Chair |
| | | $30,000 | | |
| | Committee Members | | | | No committee member fees | | |
| | Meeting Fees | | | | No meeting fees | | |
|
Name
|
| |
Fees Earned
or Paid in Cash ($)(1) |
| |
Stock Awards
($)(2) |
| |
All Other
Compensation ($) |
| |
Total
($) |
| ||||||||||||
| Cheryl W. Grisé | | | | | 185,000 | | | | | | 150,000 | | | | | | — | | | | | | 335,000 | | |
| Daniel J. Heinrich | | | | | 180,000 | | | | | | 150,000 | | | | | | — | | | | | | 330,000 | | |
| Paul C. Hilal(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Edward J. Kelly, III | | | | | 255,516 | | | | | | 215,800 | | | | | | — | | | | | | 471,316 | | |
| Mary A. Laschinger | | | | | 150,000 | | | | | | 150,000 | | | | | | — | | | | | | 300,000 | | |
| Jeffrey G. Naylor | | | | | 190,000 | | | | | | 150,000 | | | | | | — | | | | | | 340,000 | | |
| Winnie Y. Park(4) | | | | | 112,500 | | | | | | 150,000 | | | | | | — | | | | | | 262,500 | | |
| Diane E. Randolph | | | | | 150,000 | | | | | | 150,000 | | | | | | — | | | | | | 300,000 | | |
| Bertram L. Scott | | | | | 150,000 | | | | | | 150,000 | | | | | | — | | | | | | 300,000 | | |
| Stephanie P. Stahl | | | | | 180,000 | | | | | | 150,000 | | | | | | — | | | | | | 330,000 | | |
|
Name
|
| |
Amounts
Deferred in 2024 ($)(1) |
| |
Shares
Underlying Amounts Deferred in 2024 (#) |
| |
Total
Deferred Shares (#) |
| |
Options
Outstanding, including Options Acquired through Deferral of Fees (#) |
| |
Total Shares
Underlying Options and Deferred Amounts (#) |
| |||
| Cheryl W. Grisé | | | | | 335,000 | | | |
3,443
|
| |
8,381
|
| |
—
|
| |
8,381
|
|
| Daniel J. Heinrich | | | | | — | | | |
—
|
| |
3,327
|
| |
—
|
| |
3,327
|
|
| Paul C. Hilal | | | | | — | | | |
—
|
| |
—
|
| |
—
|
| |
—
|
|
| Edward J. Kelly, III | | | | | 365,800 | | | |
3,934
|
| |
8,575
|
| |
—
|
| |
8,575
|
|
| Mary A. Laschinger | | | | | 150,000 | | | |
1,398
|
| |
3,657
|
| |
—
|
| |
3,657
|
|
| Jeffrey G. Naylor | | | | | 150,000 | | | |
1,398
|
| |
6,874
|
| |
2,803
|
| |
9,677
|
|
| Winnie Y. Park | | | | | 262,500 | | | |
2,556
|
| |
—
|
| |
—
|
| |
—
|
|
| Diane E. Randolph | | | | | 150,000 | | | |
1,398
|
| |
2,637
|
| |
—
|
| |
2,637
|
|
| Bertram L. Scott | | | | | 150,000 | | | |
1,398
|
| |
3,657
|
| |
—
|
| |
3,657
|
|
| Stephanie P. Stahl | | | | | 330,000 | | | |
3,388
|
| |
11,826
|
| |
—
|
| |
11,826
|
|
|
Cheryl W. Grisé (Chair)
|
| |
Paul C. Hilal
|
| |
Mary A. Laschinger
|
|
|
2024 Named Executive Officers
|
| ||||
|
Michael Creedon, Jr.
|
| | | Chief Executive Officer | |
|
Richard Dreiling
|
| | | Former Chairman and Chief Executive Officer | |
|
Jeffrey Davis
|
| | | Former Chief Financial Officer(1) | |
|
Lawrence Gatta, Jr.
|
| | | Chief Merchandising Officer—Family Dollar | |
|
Michael Kindy
|
| | | Former Chief Supply Chain Officer(2) | |
|
Richard McNeely
|
| | | Chief Merchandising Officer—Dollar Tree | |
|
This CD&A includes the following important information:
|
| |||
| | | | ||
| | | | ||
| | | |
|
Framework of our 2024 Executive Compensation Program
|
| ||||||
|
▶
|
| |
Base Salaries
|
| | The Compensation Committee increased base salaries based on various factors, including job performance and market benchmarking. | |
|
▶
|
| |
Annual Cash Incentive Performance Plan
|
| |
The Compensation Committee maintained the adjusted operating income metric (weighted 60%) and adjusted total revenue metric (weighted 40%) to support the Company’s strategic focus on profitable growth.
•
Through a rigorous process the Committee set targets, thresholds and maximums and payout curves for each performance metric that are designed to be motivating and challenging.
•
The adjusted operating income metric has a threshold payout for performance at 85% of the target and a maximum payout for performance at 112.5% of target.
•
The adjusted total revenue metric has a threshold payout for performance at 95% of target and a maximum payout for performance at 105% of target.
•
In addition, there is an adjusted operating income hurdle of $1,500 million (71% of target) which must be achieved for any payout to be earned under the plan.
|
|
|
▶
|
| |
Long-Term Incentive Program Design
|
| |
The Compensation Committee maintained the mix of equity incentive awards consisting of 50% performance-based restricted stock units (“PSUs”), 30% service-based restricted stock units (“RSUs”) and 20% stock options.
•
The PSU awards are the largest component and are designed to reward exceptional performance in achieving the Company’s strategic objectives.
•
The stock option awards link a portion of our executive’s compensation directly to stock price appreciation and vest ratably over a three-year period from the grant date.
•
The RSU awards align with share price, add balance to the long-term incentive mix and support executive retention. The RSUs vest ratably over a three-year period from the grant date.
|
|
|
▶
|
| |
Long-Term Incentive Awards—PSU Goal
|
| |
The Compensation Committee approved the following performance metrics for PSUs, measured over a three-year cumulative period:
•
Adjusted earnings per share (weighted 60%)
•
Adjusted total revenue (weighted 40%)
•
Modified by total shareholder return (“TSR”), relative to peers (+/- 25%)
|
|
|
2024 Executive Compensation Program
|
| |||
|
Element
|
| |
Vehicle Description & Strategic Role
|
|
|
Base Salary
|
| |
•
Helps attract and retain executives through market-competitive base pay
•
Based on individual performance, experience and scope of responsibility
|
|
|
Annual Cash
Bonus Incentive |
| |
•
Encourages achievement of short-term financial performance metrics that create shareholder value
•
Cash bonus incentives in 2024 were based 60% on adjusted operating income and 40% on adjusted total revenue goals which are designed to promote profitable growth
|
|
|
Long-Term
Equity Incentive Awards |
| |
•
Long-term incentive compensation composed of equity awards: 50% in PSUs, 30% in RSUs and 20% in stock options
•
PSUs incentivize executives to drive financial performance toward long-term objectives
•
PSUs awarded in 2024 were based on three-year cumulative goals for adjusted earnings per share (weighted 60%), adjusted total revenue (weighted 40%), with a three-year relative TSR modifier (+/- 25%)
•
RSU awards create a retention incentive through multi-year vesting and robust stock ownership guidelines
•
Stock options motivate executives to deliver long-term sustained share price performance
|
|
|
Adjusted Operating Income
(60% of potential MICP payout) |
| ||||||
|
% of Corporate
Performance Target Attained |
| |
Potential Payout
Percentage |
| |||
|
Below 85.0%
|
| | | | 0% | | |
|
85%
|
| | | | 50% | | |
|
90%
|
| | | | 66.7% | | |
|
95%
|
| | | | 83.3% | | |
|
100%
|
| | | | 100% | | |
|
105%
|
| | | | 140% | | |
|
110%
|
| | | | 180% | | |
|
112.5% or above
|
| | | | 200% | | |
|
Adjusted Total Revenue
(40% of potential MICP payout) |
| ||||||
|
% of Corporate
Performance Target Attained |
| |
Potential Payout
Percentage |
| |||
|
Below 95.0%
|
| | | | 0% | | |
|
95%
|
| | | | 50% | | |
|
97.5%
|
| | | | 75% | | |
|
100%
|
| | | | 100% | | |
|
102.5%
|
| | | | 150% | | |
|
105% or above
|
| | | | 200% | | |
|
Metric
|
| |
2024
Target(1) ($) |
| |
2024
Achievement(1) ($) |
| |
% of Target
Achieved |
| |
% of Payout
per Metric |
| |
Weighting
(%) |
| |
Total
Weighted Payout (%) |
| ||||||||||||
| Adjusted Operating Income(2) | | |
$2,105.2
|
| |
$1,807.9
|
| | | | 85.9% | | | | | | 52.9% | | | | | | 60% | | | | | | 31.74% | | |
| Adjusted Total Revenue(3) | | |
$31,649.8
|
| |
$30,845.6
|
| | | | 97.5% | | | | | | 74.6% | | | | | | 40% | | | | | | 29.84% | | |
| Total | | | | | | | | | | | | | | | | | | | | | | | 100% | | | | | | 61.6% | | |
|
Executive
|
| |
Bonus Target as
% of Base Salary |
| |
Amount of
Target Bonus |
| |
Total Payout %
|
| |
Corporate
Performance Bonus Earned |
| ||||||||||||
|
Michael Creedon, Jr.(1)
|
| | | | 100% | | | | | $ | 987,500 | | | | | | 61.6% | | | | | $ | 608,300 | | |
|
Richard Dreiling(2)
|
| | | | 175% | | | | | | 2,450,000 | | | | | | — | | | | | | — | | |
|
Jeffrey Davis
|
| | | | 100% | | | | | | 850,000 | | | | | | 61.6% | | | | | | 523,600 | | |
|
Lawrence Gatta, Jr.(2)
|
| | | | 100% | | | | | | 760,000 | | | | | | — | | | | | | — | | |
|
Michael Kindy
|
| | | | 75% | | | | | | 521,250 | | | | | | 61.6% | | | | | | 321,090 | | |
|
Richard McNeely
|
| | | | 100% | | | | | | 974,000 | | | | | | 61.6% | | | | | | 599,984 | | |
|
Achievement
Level |
| |
Performance
Achievement % |
| |
Earning %
|
| ||||||
|
Threshold
|
| | | | 97% | | | | | | 50% | | |
|
Target
|
| | | | 100% | | | | | | 100% | | |
|
Maximum
|
| | | | 104% | | | | | | 200% | | |
|
Performance Metric
|
| |
Threshold
|
| |
Target
|
| |
Maximum
|
| |
Actual
Results |
| ||||||||||||
| | | |
($ in millions)
|
| |||||||||||||||||||||
|
Three-Year adjusted Total Sales
(2022-2024) |
| | | $ | 83,787 | | | | | $ | 86,378 | | | | | $ | 89,833 | | | | | $ | 89,718 | | |
|
% of Target
|
| | | | 97% | | | | | | 100% | | | | | | 104% | | | | | | 103.9% | | |
| |
Compensation Practice
|
| |
Dollar Tree’s Compensation Policies and Actions
|
| |
| | Pay for Performance | | | A significant portion of targeted direct compensation is linked to the financial performance of key metrics. See “Executive Summary—Compensation Program for 2024” on page 27, and “Compensation Principles—Target Pay Mix” on page 31. | | |
| | Clawback policy | | | Our clawback policy requires mandatory reimbursement of excess incentive compensation from any executive officer if the Company’s financial statements are restated due to material noncompliance with financial reporting requirements under the securities laws. This policy is in compliance with SEC and Nasdaq listing standards that became effective in 2023. See “Recoupment (“Clawback”) Policy” below. | | |
| | Robust stock ownership guidelines | | | Our executive stock ownership guidelines are aligned with current market practices and enhance alignment with shareholders’ long-term interests. See “Executive Stock Ownership Guidelines” below. | | |
| | No hedging or pledging of Dollar Tree securities or holding Dollar Tree securities in margin accounts | | | Our policy prohibits executive officers and Board members from hedging their ownership of our stock and holding our stock in a margin account. None of our executive officers and directors engaged in transactions involving the pledging of Company stock during fiscal 2024. See “Policy Against Hedging of Company Stock” and “No Pledges of Company Stock” below. | | |
| | No excise tax gross-ups | | | We do not provide excise tax gross-up payments. | | |
| | Double-trigger provisions | | | Equity awards under our equity incentive plan and all change in control Retention Agreements with executive officers include a “double-trigger” vesting provision upon a change in control. See “Termination or Change in Control Arrangements” on page 41. | | |
| | No repricing or cash buyout of underwater stock options without shareholder approval | | | Our equity incentive plan prohibits modifications to stock options and stock appreciation rights to reduce the exercise price of the awards, or replacing awards with cash or another award type, without shareholder approval. | | |
|
Albertsons Companies, Inc.
|
| |
Rite Aid Corporation
|
|
|
AutoZone, Inc.
|
| |
Ross Stores, Inc.
|
|
|
BJ’s Wholesale Club Holdings, Inc.
|
| |
Target Corporation
|
|
|
Burlington Stores, Inc.
|
| |
The Gap, Inc.
|
|
|
Dollar General Corporation
|
| |
The Kroger Co.
|
|
|
Lowe’s Companies, Inc.
|
| |
The TJX Companies, Inc.
|
|
|
Macy’s, Inc.
|
| |
Tractor Supply Company
|
|
|
Nordstrom, Inc.
|
| |
Walgreens Boots Alliance
|
|
|
Current Position
|
| |
Multiple of Salary
|
| |||
| Chief Executive Officer | | | | | 6x | | |
| Chief Financial Officer | | | | | 3x | | |
| Chief Operating Officer | | | | | 3x | | |
| Chief Merchandising Officer | | | | | 3x | | |
| Other Chief-Level Officers | | | | | 2x | | |
|
Name and
Principal Position |
| |
Year
|
| |
Salary
($)(1) |
| |
Bonus
($) |
| |
Stock
Awards ($)(2) |
| |
Option
Awards ($) |
| |
Non-Equity
Incentive Plan Compensation ($)(1)(3) |
| |
All Other
Compensation ($)(4) |
| |
Total
($) |
|
|
Michael Creedon, Jr.(5)
Chief Executive Officer
|
| |
2024
|
| |
1,005,769
|
| |
—
|
| |
4,799,766
|
| |
1,199,964
|
| |
608,300
|
| |
22,105
|
| |
7,635,904
|
|
|
2023
|
| |
892,308
|
| |
500,000
|
| |
2,079,896
|
| |
519,968
|
| |
740,340
|
| |
65,049
|
| |
4,797,561
|
| |||
|
2022
|
| |
277,885
|
| |
—
|
| |
1,200,000
|
| |
—
|
| |
182,873
|
| |
15,260
|
| |
1,676,018
|
| |||
|
Richard Dreiling
Former Chairman and
Chief Executive Officer |
| |
2024
|
| |
1,094,230
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
174,645
|
| |
1,268,876
|
|
|
2023
|
| |
1,350,000
|
| |
—
|
| |
—
|
| |
—
|
| |
1,943,393
|
| |
67,373
|
| |
3,360,766
|
| |||
|
2022
|
| |
865,385
|
| |
—
|
| |
—
|
| |
135,583,212
|
| |
—
|
| |
21,182
|
| |
136,469,779
|
| |||
|
Jeffrey Davis
Former Chief Financial
Officer |
| |
2024
|
| |
845,192
|
| |
—
|
| |
1,999,915
|
| |
499,978
|
| |
523,600
|
| |
25,464
|
| |
3,894,149
|
|
|
2023
|
| |
825,000
|
| |
—
|
| |
1,799,830
|
| |
449,959
|
| |
678,645
|
| |
43,015
|
| |
3,796,449
|
| |||
|
2022
|
| |
269,712
|
| |
300,000
|
| |
1,999,977
|
| |
—
|
| |
177,495
|
| |
6,641
|
| |
2,753,825
|
| |||
|
Lawrence Gatta, Jr.
Chief Merchandising
Officer—Family Dollar |
| |
2024
|
| |
754,231
|
| |
—
|
| |
3,259,820
|
| |
439,959
|
| |
—
|
| |
2,363,455
|
| |
6,817,465
|
|
|
2023
|
| |
725,385
|
| |
—
|
| |
1,759,779
|
| |
439,991
|
| |
600,498
|
| |
32,068
|
| |
3,557,721
|
| |||
|
2022
|
| |
525,000
|
| |
—
|
| |
1,599,892
|
| |
—
|
| |
451,850
|
| |
84,863
|
| |
2,661,605
|
| |||
|
Michael Kindy
Former Chief Supply
Chain Officer |
| |
2024
|
| |
691,154
|
| |
—
|
| |
2,619,820
|
| |
279,969
|
| |
321,090
|
| |
57,428
|
| |
3,969,461
|
|
|
Richard McNeely(6)
Chief Merchandising
Officer—Dollar Tree |
| |
2024
|
| |
974,000
|
| |
—
|
| |
1,759,899
|
| |
439,959
|
| |
599,984
|
| |
56,467
|
| |
3,830,309
|
|
|
2023
|
| |
950,923
|
| |
15,000
|
| |
1,759,779
|
| |
439,991
|
| |
801,212
|
| |
97,619
|
| |
4,064,524
|
| |||
|
2022
|
| |
820,308
|
| |
90,000
|
| |
1,799,805
|
| |
—
|
| |
531,892
|
| |
257,783
|
| |
3,499,788
|
|
|
Name
|
| |
Grant Date
|
| |
Compensation
Committee Action Date(1) |
| |
Estimated Possible Payouts
Under Non-Equity Incentive Plans(2) |
| |
Estimated Future Payouts
Under Equity Incentive Plans |
| |
All Other
Stock Awards: Number of Shares of Stock or Units (#) |
| |
All Other
Option Awards: Number of Securities Underlying Options (#) |
| |
Exercise
or Base Price of Option Awards ($/Sh) |
| |
Grant Date
Fair Value of Stock and Option Awards ($)(9) |
| ||||||||||||||||||||||||||||||||||||||||||||||||
|
Threshold
($) |
| |
Target
($) |
| |
Maximum
($) |
| |
Threshold
(#) |
| |
Target
(#) |
| |
Maximum
(#) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Richard Dreiling
|
| | | | — | | | | | | — | | | | | | 1,225,000 | | | | | | 2,450,000 | | | | | | 4,900,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Jeffrey Davis
|
| | | | — | | | | | | — | | | | | | 425,000 | | | | | | 850,000 | | | | | | 1,700,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,447(3) | | | | | | 135.91 | | | | | | 499,978 | | | |||
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 5,518(5) | | | | | | — | | | | | | — | | | | | | 749,951 | | | |||
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,598(7) | | | | | | 9,197(7) | | | | | | 18,394(7) | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,249,964 | | | |||
|
Michael Creedon, Jr.
|
| | | | — | | | | | | — | | | | | | 493,750 | | | | | | 987,500 | | | | | | 1,975,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 12,671(3) | | | | | | 135.91 | | | | | | 749,996 | | | |||
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,277(5) | | | | | | — | | | | | | — | | | | | | 1,124,927 | | | |||
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,897(7) | | | | | | 13,795(7) | | | | | | 27,590(7) | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,874,878 | | | |||
| | | 01/03/2025 | | | | | | 11/03/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 13,706(4) | | | | | | 73.36 | | | | | | 449,968 | | | |||
| | | 01/03/2025 | | | | | | 11/03/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,201(6) | | | | | | — | | | | | | — | | | | | | 674,985 | | | |||
| | | 01/03/2025 | | | | | | 11/03/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,667(7) | | | | | | 15,335(7) | | | | | | 30,670(7) | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,124,976 | | | |||
|
Lawrence Gatta, Jr.
|
| | | | — | | | | | | — | | | | | | 380,000 | | | | | | 760,000 | | | | | | 1,520,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,433(3) | | | | | | 135.91 | | | | | | 439,959 | | | |||
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,856(5) | | | | | | — | | | | | | — | | | | | | 659,979 | | | |||
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,046(7) | | | | | | 8,093(7) | | | | | | 16,186(7) | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,099,920 | | | |||
| | | 07/05/2024 | | | | | | 06/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 14,060(8) | | | | | | 23,433(8) | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,499,921 | | | |||
|
Richard McNeely
|
| | | | — | | | | | | — | | | | | | 487,000 | | | | | | 974,000 | | | | | | 1,948,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,433(3) | | | | | | 135.91 | | | | | | 439,959 | | | |||
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,856(5) | | | | | | — | | | | | | — | | | | | | 659,979 | | | |||
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,046(7) | | | | | | 8,093(7) | | | | | | 16,186(7) | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,099,920 | | | |||
|
Michael Kindy
|
| | | | — | | | | | | — | | | | | | 260,625 | | | | | | 521,250 | | | | | | 1,042,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,730(3) | | | | | | 135.91 | | | | | | 279,969 | | | |||
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,090(5) | | | | | | — | | | | | | — | | | | | | 419,962 | | | |||
| | | 04/01/2024 | | | | | | 03/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,575(7) | | | | | | 5,150(7) | | | | | | 10,300(7) | | | | | | — | | | | | | — | | | | | | — | | | | | | 699,937 | | | |||
| | | 07/05/2024 | | | | | | 06/19/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 14,060(8) | | | | | | 23,433(8) | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,499,921 | | |
|
Name
|
| |
Award
Date |
| |
Option Awards
|
| |
Stock Awards
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||
|
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Equity
Incentive Plan Awards: Securities Underlying Unexercised Unearned Options (#) |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested (#) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested ($) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) |
| ||||||||||||||||||||||||||||||||||||
|
Richard Dreiling
|
| | | | 3/19/2022 | | | | | | 1,634,544(1) | | | | | | — | | | | | | — | | | | | | 157.17 | | | | | | 3/19/2032 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Jeffrey Davis
|
| | | | 3/31/2023 | | | | | | 2,528 | | | | | | 5,056(2) | | | | | | — | | | | | | 143.55 | | | | | | 3/31/2033 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 3/31/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,135(3) | | | | | | 229,952 | | | | | | — | | | | | | — | | | |||
| | | 3/31/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,836(4) | | | | | | 574,771 | | | |||
| | | 4/1/2024 | | | | | | — | | | | | | 8,447(8) | | | | | | — | | | | | | 135.91 | | | | | | 4/1/2034 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | |||
| | | 4/1/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 5,518(9) | | | | | | 404,745 | | | | | | — | | | | | | — | | | |||
| | | 4/1/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,197(10) | | | | | | 674,600 | | | |||
|
Michael Creedon, Jr.
|
| | | | 11/25/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,643(5) | | | | | | 193,864 | | | | | | — | | | | | | — | | |
| | | 3/31/2023 | | | | | | 2,921 | | | | | | 5,843(2) | | | | | | — | | | | | | 143.55 | | | | | | 3/31/2033 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | |||
| | | 3/31/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,622(3) | | | | | | 265,674 | | | | | | — | | | | | | — | | | |||
| | | 3/31/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,056(4) | | | | | | 664,258 | | | |||
| | | 4/1/2024 | | | | | | — | | | | | | 12,671(8) | | | | | | — | | | | | | 135.91 | | | | | | 4/1/2034 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | |||
| | | 4/1/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,277(9) | | | | | | 607,118 | | | | | | — | | | | | | — | | | |||
| | | 4/1/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 13,795(10) | | | | | | 1,011,863 | | | |||
| | | 1/3/2025 | | | | | | — | | | | | | 13,706(11) | | | | | | — | | | | | | 73.36 | | | | | | 1/3/2035 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | |||
| | | 1/3/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,201(12) | | | | | | 674,893 | | | | | | — | | | | | | — | | | |||
| | | 1/3/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 15,335(13) | | | | | | 1,124,822 | | | |||
|
Lawrence Gatta, Jr.(18)
|
| | | | 3/31/2023 | | | | | | 2,472 | | | | | | —(2) | | | | | | — | | | | | | 143.55 | | | | | | 2/1/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 7/5/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 14,060(14) | | | | | | 1,031,301 | | |
|
Name
|
| |
Award
Date |
| |
Option Awards
|
| |
Stock Awards
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||
|
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Equity
Incentive Plan Awards: Securities Underlying Unexercised Unearned Options (#) |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested (#) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested ($) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($) |
| ||||||||||||||||||||||||||||||||||||
|
Richard McNeely
|
| | | | 4/1/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,606(6) | | | | | | 191,150 | | | | | | — | | | | | | — | | |
| | | 4/1/2022 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,822(7) | | | | | | 206,994 | | | |||
| | | 3/31/2023 | | | | | | 2,472 | | | | | | 4,944(2) | | | | | | — | | | | | | 143.55 | | | | | | 3/31/2033 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | |||
| | | 3/31/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,065(3) | | | | | | 224,818 | | | | | | — | | | | | | — | | | |||
| | | 3/31/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,662(4) | | | | | | 562,008 | | | |||
| | | 4/1/2024 | | | | | | — | | | | | | 7,433(8) | | | | | | — | | | | | | 135.91 | | | | | | 4/1/2034 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | |||
| | | 4/1/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,856(9) | | | | | | 356,188 | | | | | | — | | | | | | — | | | |||
| | | 4/1/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,093(10) | | | | | | 593,622 | | | |||
|
Michael Kindy
|
| | | | 6/30/2023 | | | | | | 1,525 | | | | | | 3,050(15) | | | | | | — | | | | | | 143.50 | | | | | | 6/30/2033 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 6/30/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,951(16) | | | | | | 143,106 | | | | | | — | | | | | | — | | | |||
| | | 6/30/2023 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,878(17) | | | | | | 357,801 | | | |||
| | | 4/1/2024 | | | | | | — | | | | | | 4,730(8) | | | | | | — | | | | | | 135.91 | | | | | | 4/1/2034 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | |||
| | | 4/1/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,090(9) | | | | | | 226,652 | | | | | | — | | | | | | — | | | |||
| | | 4/1/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 5,150(10) | | | | | | 377,753 | | | |||
| | | 7/5/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 14,060(14) | | | | | | 1,031,301 | | |
|
Name
|
| |
Option Awards
|
| |
Stock Awards
|
| ||||||
|
Number of Shares
Acquired on Exercise (#) |
| |
Value Realized
on Exercise ($) |
| |
Number of Shares
Acquired on Vesting (#) |
| |
Value Realized
on Vesting ($) |
| |||
|
Richard Dreiling
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
|
Jeffrey Davis
|
| |
—
|
| |
—
|
| |
8,175
|
| |
669,752
|
|
|
Michael Creedon, Jr.
|
| |
—
|
| |
—
|
| |
4,454
|
| |
425,563
|
|
|
Lawrence Gatta, Jr.
|
| |
—
|
| |
—
|
| |
3,895
|
| |
457,418
|
|
|
Richard McNeely
|
| |
—
|
| |
—
|
| |
16,048
|
| |
2,082,094
|
|
|
Michael Kindy
|
| |
—
|
| |
—
|
| |
975
|
| |
104,101
|
|
|
Name
|
| |
Executive
Contributions in Last FY ($) |
| |
Registrant
Contributions in Last FY ($) |
| |
Aggregate
Earnings in Last FY ($) |
| |
Aggregate
Withdrawals/ Distributions ($) |
| |
Aggregate
Balance at Last FYE ($) |
|
|
Richard Dreiling
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
|
Jeffrey Davis
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
|
Michael Creedon, Jr.
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
|
Lawrence Gatta, Jr.
|
| |
273,893
|
| |
—
|
| |
59,005
|
| |
—
|
| |
510,138
|
|
|
Richard McNeely
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
|
Michael Kindy
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
|
Name
|
| |
Death
($) |
| |
Disability
($) |
| |
Retirement
($)(1) |
| |
Involuntary
Termination without Cause ($) |
|
| Richard Dreiling | | |
|
| |
|
| |
|
| |
|
|
| Salary continuation(2) | | |
—
|
| |
—
|
| |
—
|
| |
2,800,000
|
|
| Award vested due to event:(3) | | |
|
| |
|
| |
|
| |
|
|
|
Service-based & Performance-based RSUs
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
|
Options(4)
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
|
Total
|
| |
—
|
| |
—
|
| |
—
|
| |
2,800,000
|
|
| Jeffrey Davis | | |
|
| |
|
| |
|
| |
|
|
| Severance Benefit(5) | | |
—
|
| |
2,571,450
|
| |
—
|
| |
2,571,450
|
|
| Award vested due to event:(3) | | |
|
| |
|
| |
|
| |
|
|
|
Service-based & Performance-based RSUs
|
| |
1,884,068
|
| |
1,884,068
|
| |
1,884,068
|
| |
—
|
|
|
Options
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
|
Total
|
| |
1,884,068
|
| |
4,455,518
|
| |
1,884,068
|
| |
2,571,450
|
|
| Michael Creedon | | |
|
| |
|
| |
|
| |
|
|
| Severance Benefit(5) | | |
—
|
| |
3,927,546
|
| |
n/a
|
| |
3,927,546
|
|
| Award vested due to event:(3) | | |
|
| |
|
| |
|
| |
|
|
|
Service-based & Performance-based RSUs(6)
|
| |
4,542,492
|
| |
4,542,492
|
| |
n/a
|
| |
—
|
|
|
Options
|
| |
—
|
| |
—
|
| |
n/a
|
| |
—
|
|
|
Total
|
| |
4,542,492
|
| |
8,470,038
|
| |
n/a
|
| |
3,927,546
|
|
| Lawrence Gatta, Jr. | | |
|
| |
|
| |
|
| |
|
|
| Severance Benefit(5) | | |
—
|
| |
—
|
| |
—
|
| |
2,301,265
|
|
| Award vested due to event:(3) | | |
|
| |
|
| |
|
| |
|
|
|
Service-based & Performance-based RSUs(7)
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
|
Options
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
|
Total
|
| |
—
|
| |
—
|
| |
—
|
| |
2,301,265
|
|
| Michael Kindy | | |
|
| |
|
| |
|
| |
|
|
| Severance Benefit(5) | | |
—
|
| |
1,933,528
|
| |
n/a
|
| |
1,933,528
|
|
| Award vested due to event:(3) | | |
|
| |
|
| |
|
| |
|
|
|
Service-based & Performance-based RSUs(7)
|
| |
2,136,612
|
| |
2,136,612
|
| |
n/a
|
| |
—
|
|
|
Options
|
| |
—
|
| |
—
|
| |
n/a
|
| |
—
|
|
|
Total
|
| |
2,136,612
|
| |
4,070,140
|
| |
n/a
|
| |
1,933,528
|
|
| Richard McNeely | | |
|
| |
|
| |
|
| |
|
|
| Salary continuation(5) | | |
1,963,562
|
| |
1,963,562
|
| |
—
|
| |
1,963,562
|
|
| Award vested due to event:(3) | | |
|
| |
|
| |
|
| |
|
|
|
Service-based & Performance-based RSUs
|
| |
2,134,778
|
| |
2,134,778
|
| |
2,134,778
|
| |
—
|
|
|
Options
|
| |
—
|
| |
—
|
| |
—
|
| |
—
|
|
| Life Insurance proceeds(8) | | |
450,000
|
| |
n/a
|
| |
n/a
|
| |
n/a
|
|
|
Total
|
| |
4,548,340
|
| |
4,098,340
|
| |
2,134,778
|
| |
1,963,562
|
|
|
Name
|
| |
Severance
Payment(1) |
| |
Bonus(2)
|
| | | | | | | | | | | | | ||||||||||||
|
Earned but
Unpaid MICP |
| |
Pro-Rata
Calculated Bonus |
| |
RSUs and
Options Vested Due to Event(3) |
| |
Total
|
| |||||||||||||||||||||
|
Jeffrey Davis
|
| | | $ | 1,929,728 | | | | | $ | 523,600 | | | | | | — | | | | | $ | 1,884,068 | | | | | $ | 4,337,396 | | |
|
Michael Creedon, Jr.
|
| | | | 4,431,358 | | | | | | 608,300 | | | | | | — | | | | | | 4,542,492 | | | | | | 9,582,150 | | |
|
Michael Kindy
|
| | | | 1,681,607 | | | | | | 321,090 | | | | | | — | | | | | | 2,136,612 | | | | | | 4,139,309 | | |
| Richard McNeely(4) | | | | | 1,963,562 | | | | | | — | | | | | | — | | | | | | 2,134,778 | | | | | | 4,098,340 | | |
| Year | | | Summary Compensation Table Total for Principal Executive Officer(1) (Creedon) | | | Summary Compensation Table Total for Principal Executive Officer(2) (Dreiling & Witynski) | | | Summary Compensation Table Total for Principal Executive Officer(3) (Philbin) | | | Compensation Actually Paid to Principal Executive Officer(1)(4) (Creedon) | | | Compensation Actually Paid to Principal Executive Officer(2)(4) (Dreiling & Witynski) | | | Compensation Actually Paid to Principal Executive Officer(3) (Philbin) | | ||||||||||||||||||
| 2024 | | | | $ | | | | | $ | | | | | | | | | | $ | | | | | $ | ( | | | | | | | | |||||
| 2023 | | | | | | | | | | | | | | | | | | | | | | | | | ( | | | | | | | | |||||
| 2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
| 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
| 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Year | | | Average Summary Compensation Table Total for Non-Principal Executive Officer NEOs(5)(6) | | | Average Compensation Actually Paid to Non- Principal Executive Officer NEOs(5)(6)(7) | | | Value of Initial Fixed $100 Investment Based on: | | | Company Net Income (Loss) (dollars in millions) | | | Company Operating Income (dollars in millions) | | |||||||||||||||||||||
| Company Total Shareholder Return(8) | | | Peer Group Total Shareholder Return(8)(9) | | |||||||||||||||||||||||||||||||||
| 2024 | | | | $ | | | | | $ | | | | | $ | | | | | $ | | | | | $ | ( | | | | | $ | | | |||||
| 2023 | | | | | | | | | | | | | | | | | | | | | | | | | ( | | | | | | | | |||||
| 2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
| 2021 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||
| 2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Adjustments to determine compensation actually paid for principal executive officer | | | Creedon | | | Dreiling | | ||||||
| Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation Table | | | | $ | ( | | | | | $ | | | |
| Deduction for amounts reported under the “Option Awards” column in the Summary Compensation Table | | | | | ( | | | | | | | | |
| Deduction for fair value of awards granted in a prior year that were forfeited during year | | | | | | | | | | ( | | | |
| Increase for fair value of awards granted during year that remained unvested at year-end | | | | | | | | | | | | ||
| Increase for fair value of awards granted during year that vested during year | | | | | | | | | | | | ||
| Change in fair value from prior year-end to year-end of awards granted in a prior year that were outstanding and unvested at year-end | | | | | ( | | | | | | | | |
| Change in fair value from prior year-end to vesting date of awards granted in a prior year that vested during year | | | | | ( | | | | | | ( | | |
| Increase based upon incremental fair value of awards modified during year | | | | | | | | | | | | ||
| Increase based on dividends or other earnings paid during year prior to vesting | | | | | | | | | | | |
| Adjustments to determine compensation actually paid for remaining named executive officers | | | 2024 | | |||
| Deduction for amounts reported under the “Stock Awards” column in the Summary Compensation Table | | | | $ | ( | | |
| Deduction for amounts reported under the “Option Awards” column in the Summary Compensation Table | | | | | ( | | |
| Deduction for fair value of awards granted in a prior year that were forfeited during year | | | | | ( | | |
| Increase for fair value of awards granted during year that remained unvested at year-end | | | | | | | |
| Change in fair value from prior year-end to year-end of awards granted in a prior year that were outstanding and unvested at year-end | | | | | ( | | |
| Change in fair value from prior year-end to vesting date of awards granted in a prior year that vested during year | | | | | ( | | |
| Increase based upon incremental fair value of awards modified during year | | | | | | | |
| Increase based on dividends or other earnings paid during year prior to vesting | | | | | | |
| Important Financial Performance Metrics | |
| | |
| | |
| | |
|
Name
|
| |
Age
|
| |
Title and Employment History
|
|
|
MICHAEL CREEDON, JR.
|
| |
49
|
| | Chief Executive Officer since December 2024. From November to December 2024, Mr. Creedon served as interim Chief Executive Officer of the Company. He served as Chief Operating Officer from October 2022 to November 2024. Prior to joining the Company, Mr. Creedon held several executive leadership roles with Advance Auto Parts, Inc., including Executive Vice President of U.S. Stores (March 2021 to October 2022), President, U.S. Stores (March 2020 to March 2021), and President, North Division (February 2017 to March 2020). | |
|
ROBERT AFLATOONI
|
| |
55
|
| | Chief Information Officer since July 2022. From August 2018 to July 2022, Mr. Aflatooni served as Executive Vice President, Chief Information Officer of The Howard Hughes Corporation where he was responsible for leading all information technology strategies and operations across the company’s portfolio. From March 2011 to April 2018, Mr. Aflatooni served as Vice President of IT Operations, Architecture and Merchandising at Dollar General. | |
|
STEWART GLENDINNING
|
| |
59
|
| | Chief Financial Officer since March 2025. From January 2025 to March 2025, Mr. Glendinning served in a senior role at the Company focused on enterprise-wide transformation initiatives. Prior to joining the Company, he served in executive roles at Express, Inc., where he served as its Chief Executive Officer from September 2023 to December 2024, and at Tyson Foods, Inc., where he served as Group President, Prepared Foods from October 2022 to September 2023 and as Executive Vice President and Chief Financial Officer from February 2018 to October 2022. | |
|
JONATHAN LEIKEN
|
| |
53
|
| | Chief Legal Officer and Corporate Secretary since August 2023. Prior to joining the Company, Mr. Leiken served as the Executive Vice President, Chief Legal Officer and Secretary of Diebold Nixdorf, Inc. from 2014 to August 2023. Diebold Nixdorf and certain of its affiliated Dutch entities successfully completed voluntary, pre-packaged debt restructuring proceedings under US and Dutch bankruptcy law between June 2023 (filing) and August 2023 (emergence). | |
|
RICHARD McNEELY
|
| |
66
|
| | Chief Merchandising Officer for Dollar Tree stores since May 2017. Mr. McNeely also served as Enterprise Chief Merchandising Officer from December 2019 to April 2022. | |
|
STEVE SCHUMACHER
|
| |
53
|
| | Chief People Officer since November 2024. From May 2024 to November 2024, Mr. Schumacher served as Interim Chief People Officer. Mr. Schumacher served as Senior Vice President of Human Resources for the Company from 2018 until May 2024. | |
|
ROXANNE WENG
|
| |
53
|
| | Chief Supply Chain Officer since April 2025. Prior to joining the Company, Ms. Weng served as Vice President, Creative Operations of Uline, Inc. from October 2023 to April 2025. Prior to joining Uline, Inc., she served as Senior Vice President and Chief Supply Chain Officer of Walgreens Boots Alliance, Inc. from November 2021 to May 2023, as Group Vice President, Comprehensive Loss & Asset Protection from February 2021 to November 2021 and as Group Vice President, Retail and Finance Transformation from November 2019 to August 2021. | |
| | | |
Beneficial Ownership(1)
|
| ||||||
|
Directors and Named Executive Officers
|
| |
Shares
|
| |
Percent
|
| |||
| Michael Creedon, Jr. | | | | | 16,706(2) | | | |
*
|
|
| Jeffrey Davis | | | | | 17,608(3) | | | |
*
|
|
| William W. Douglas III | | | | | 8,176 | | | |
*
|
|
| Richard W. Dreiling | | | | | 1,641,662(4) | | | |
*
|
|
| Lawrence Gatta, Jr. | | | | | 6,744(5) | | | |
*
|
|
| Cheryl W. Grisé | | | | | 9,996(6) | | | |
*
|
|
| Daniel J. Heinrich | | | | | 13,151(7) | | | |
*
|
|
| Paul C. Hilal | | | | | 13,641,004(8) | | | |
6.5%
|
|
| Timothy A. Johnson | | | | | 676 | | | |
*
|
|
| Edward J. Kelly, III | | | | | 9,095(9) | | | |
*
|
|
| Michael J. Kindy | | | | | 4,506(10) | | | |
*
|
|
| Mary A. Laschinger | | | | | 22,657(11) | | | |
*
|
|
| Richard McNeely | | | | | 58,831(12) | | | |
*
|
|
| Jeffrey G. Naylor | | | | | 26,489(13) | | | |
*
|
|
| Diane E. Randolph | | | | | 2,638(14) | | | |
*
|
|
| Bertram L. Scott | | | | | 3,657(15) | | | |
*
|
|
| Stephanie P. Stahl | | | | | 17,698(16) | | | |
*
|
|
|
All current directors and executive officers as a group (18 persons)
|
| | | | 13,943,349 | | | |
6.6%
|
|
| | | |
Beneficial Ownership(1)
|
| |||
|
Other 5% Shareholders
|
| |
Shares
|
| |
Percent
|
|
|
The Vanguard Group, Inc.
100 Vanguard Blvd. Malvern, Pennsylvania 19355 |
| |
23,798,675(17)
|
| |
11.3%
|
|
|
BlackRock, Inc.
50 Hudson Yards New York, New York 10001 |
| |
15,420,175(18)
|
| |
7.3%
|
|
|
Mantle Ridge LP
712 Fifth Ave., Suite 17F New York, New York 10019 |
| |
13,640,904(19)
|
| |
6.5%
|
|
|
Internet
![]()
www.proxyvote.com
Vote 24/7 |
| |
Telephone
![]()
1-800-690-6903
|
| |
Mail
![]()
Cast your ballot, date and sign your proxy
card and send by pre-paid mail |
|
| Visit www.proxyvote.com | | | Call 1-800-690-6903 | | |
Return your dated and signed proxy card in
the postage-paid envelope provided. |
|
|
You will need the 16-digit identification
number included in your proxy card or notice. |
| | You will need the 16-digit identification number included in your proxy card or notice. | | | | |
|
![]() |
| |
BOARD
RECOMMENDATION |
| |||
|
1
|
| | The Company’s eleven director nominees for the Board of Directors | | |
FOR
all nominees |
|
|
2
|
| | Approval, on an advisory basis, of the compensation of our named executive officers | | |
FOR
|
|
|
3
|
| | Ratification of the selection of KPMG LLP as our independent registered public accounting firm for the fiscal year 2025 | | |
FOR
|
|
|
4
|
| | Approval of the Dollar Tree, Inc. 2025 Employee Stock Purchase Plan | | |
FOR
|
|
| |
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| |
YOUR VOTE IS EXTREMELY IMPORTANT. Even if you plan to attend the annual meeting, please vote your shares by completing, signing and dating the proxy card or voting instruction form and returning it in the postage-prepaid envelope or vote by telephone or the Internet by following the instructions provided on the proxy card or voting instruction form. For additional information, see “How can I cast my vote?” above.
|
| |
| |
![]() |
| |
PROPOSAL NO. 1
ELECTION OF DIRECTORS |
| |
| |
![]() |
| |
THE BOARD RECOMMENDS THAT YOU VOTE “FOR” EACH OF THE COMPANY’S NOMINEES FOR DIRECTOR.
|
| |
| |
![]() |
| |
PROPOSAL NO. 2
ADVISORY VOTE ON COMPENSATION OF NAMED EXECUTIVE OFFICERS |
| |
| |
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| |
THE BOARD RECOMMENDS THAT YOU VOTE “FOR” THE ADVISORY APPROVAL OF OUR EXECUTIVE COMPENSATION PROGRAM.
|
| |
| |
![]() |
| |
PROPOSAL NO. 3
RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITORS |
| |
| | | |
Fiscal 2024
|
| |
Fiscal 2023
|
| ||||||
| Audit fees | | | | $ | 4,536,851 | | | | | $ | 4,293,266 | | |
| Audit-related fees(a) | | | | | 1,805,544 | | | | | | 35,000 | | |
| Tax fees | | | | | — | | | | | | — | | |
| All other fees(b) | | | | | 10,500 | | | | | | 7,500 | | |
|
Total fees
|
| | | | 6,352,895 | | | | | | 4,335,766 | | |
|
Daniel Heinrich
|
| |
Edward J. Kelly, III
|
| |
Jeffrey G. Naylor
|
| |
Diane E. Randolph
|
| |
Bertram L. Scott
|
|
| |
![]() |
| |
THE BOARD RECOMMENDS THAT YOU VOTE “FOR” RATIFICATION OF KPMG LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2025.
|
| |
| |
![]() |
| |
PROPOSAL NO. 4
APPROVAL OF 2025 EMPLOYEE STOCK PURCHASE PLAN |
| |
| |
![]() |
| |
THE BOARD RECOMMENDS THAT YOU VOTE “FOR” THE ADOPTION OF THE 2025 EMPLOYEE STOCK PURCHASE PLAN.
|
| |
|
(in millions)
|
| |
Year Ended
February 1, 2025 |
| |||
| Total revenue (GAAP) | | | | $ | 17,578.5 | | |
| Cost of sales (GAAP) | | | | | 11,284.1 | | |
| SG&A (GAAP) | | | | | 4,832.4 | | |
| Operating income (GAAP) | | | | | 1,462.0 | | |
| Operating loss from discontinued operations (GAAP) | | | | | (1,824.8) | | |
| Adjustments: | | | | | | | |
|
Incentive compensation adjustments, net
|
| | | | 2,170.6 | | |
| Adjusted operating income for incentive compensation (Non-GAAP) | | | | | 1,807.9 | | |