Page | ||||||||||
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Subject Company Information | ||||||||||
Identity and Background of Filing Person | ||||||||||
Past Contacts, Transactions, Negotiations and Agreements | ||||||||||
The Solicitation or Recommendation | ||||||||||
Person/Assets Retained, Employed, Compensated or Used | ||||||||||
Interest in Securities of the Subject Company | ||||||||||
Purposes of the Transaction and Plans or Proposals | ||||||||||
Additional Information | ||||||||||
Exhibits | ||||||||||
SIGNATURE | ||||||||||
INFORMATION STATEMENT | ||||||||||
OPINION OF J.P. MORGAN SECURITIES LLC | ||||||||||
SECTION 262 OF THE GENERAL CORPORATION LAW OF THE STATE OF DELAWARE |
Name | Number of Shares Owned | Cash Value of Shares Owned | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Directors and Executive Officers | ||||||||||||
W. Thomas Green, Jr., Chairman of the Board(1) | 2,077,072 | $ | 42,268,415 | |||||||||
Wyche T. Green, III, President, Chief Executive Officer and Director(2) | 279,850 | $ | 5,694,948 | |||||||||
Thomas T. Richards, Director(3) | 306,538 | $ | 6,238,048 | |||||||||
Walter Turek, Director | 41,000 | $ | 834,350 | |||||||||
Robert Z. Hensley, Director | 9,000 | $ | 183,150 | |||||||||
D. Neal Morrison, Director | — | $ | — | |||||||||
Noah Walley, Director | — | $ | — | |||||||||
Gregory H. Schulenburg, Executive Vice President and Chief Operating Officer(4) | 36,780 | $ | 748,473 | |||||||||
James A. “Al” Cochran, Chief Financial Officer | 75,000 | $ | 1,526,250 | |||||||||
William G. Esslinger, Jr., Vice President, General Counsel and Secretary(5) | 37,421 | $ | 761,517 | |||||||||
All of our current directors and executive officers as a group (10 persons) | 2,862,661 | $ | 58,255,151 |
Number of Shares Underlying Stock Options | Weighted Average Exercise Price Per Share | Total Option Cash Spread Value | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
W. Thomas Green, Jr. | 300,083 | $ | 9.00 | $ | 3,404,986 | ||||||||||||
Wyche T. Green, III | 553,585 | $ | 9.98 | $ | 5,741,366 | ||||||||||||
Thomas T. Richards | 33,425 | $ | 9.99 | $ | 346,318 | ||||||||||||
Walter Turek | 112,300 | $ | 6.60 | $ | 1,544,162 | ||||||||||||
Robert Z. Hensley | 16,050 | $ | 15.50 | $ | 77,800 | ||||||||||||
D. Neal Morrison | 22,300 | $ | 11.82 | $ | 190,162 | ||||||||||||
Noah Walley | 22,300 | $ | 11.82 | $ | 190,162 | ||||||||||||
Gregory H. Schulenburg | 207,366 | $ | 11.10 | $ | 1,918,578 | ||||||||||||
James A. “Al” Cochran | 112,669 | $ | 13.34 | $ | 789,682 | ||||||||||||
William G. Esslinger, Jr.(1) | 162,030 | $ | 10.60 | $ | 1,580,385 | ||||||||||||
All of our current directors and executive officers as a group (10 persons) | 1,542,108 | $ | 15,783,601 |
Name and principal position | Equity(1) ($) | Total ($) | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Wyche T. Green, III | 5,741,366 | 5,741,366 | ||||||||||
James A. Cochran | 789,682 | 789,682 | ||||||||||
W. Thomas Green, Jr. | 3,404,986 | 3,404,986 | ||||||||||
Gregory H. Schulenburg | 1,918,578 | 1,918,578 | ||||||||||
William G. Esslinger, Jr. | 1,580,385 | 1,580,385 |
2014E | 2015E | 2016E | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
($ in millions) | |||||||||||||||||
Revenue | $ | 152 | $ | 225 | $ | 317 | |||||||||||
Adjusted EBITDA(1) | $ | 19 | $ | 46 | $ | 78 | |||||||||||
Free cash flow(2) | $ | 1 | $ | 24 | $ | 52 |
2014E | 2015E | 2016E | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
($ in millions) | |||||||||||||||||
Net (loss) income | $ | (4 | ) | $ | 10 | $ | 27 | ||||||||||
Interest income, net | — | — | — | ||||||||||||||
(Benefit) provision for income taxes | 1 | 10 | 20 | ||||||||||||||
Stock-based compensation | 6 | 7 | 8 | ||||||||||||||
Depreciation and amortization | 16 | 20 | 23 | ||||||||||||||
Adjusted EBITDA | $ | 19 | $ | 46 | $ | 78 |
2014E | 2015E | 2016E | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
($ in millions) | |||||||||||||||||
Adjusted EBITDA | $ | 19 | $ | 46 | $ | 78 | |||||||||||
Capital expenditures | (5 | ) | (8 | ) | (10 | ) | |||||||||||
Capitalized software development | (10 | ) | (11 | ) | (12 | ) | |||||||||||
Net working capital | (3 | ) | (4 | ) | (4 | ) | |||||||||||
Free cash flow | $ | 1 | $ | 24 | $ | 52 |
2013E | 2014E | 2015E | 2016E | 2017E | 2018E | 2019E | 2020E | 2021E | 2022E | 2023E | ||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Calculations and Extrapolations from Company Case 1 Projections(1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue | $ | 139 | $ | 193 | $ | 271 | $ | 311 | $ | 353 | $ | 394 | $ | 434 | $ | 470 | $ | 502 | $ | 528 | $ | 546 | ||||||||||||||||||||||||||||||||||||||||
EBITDA | $ | 12 | $ | 33 | $ | 62 | $ | 75 | $ | 88 | $ | 99 | $ | 108 | $ | 118 | $ | 126 | $ | 132 | $ | 137 | ||||||||||||||||||||||||||||||||||||||||
Free cash flow | $ | (12 | ) | $ | 7 | $ | 22 | $ | 26 | $ | 37 | $ | 43 | $ | 47 | $ | 52 | $ | 56 | $ | 59 | $ | 62 |
2014E | 2015E | 2016E | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
($ in millions) | |||||||||||||||||
Company Case 2 Projections | |||||||||||||||||
Revenue | $ | 143 | $ | 189 | $ | 243 | |||||||||||
Adjusted EBITDA(1) | $ | 17 | $ | 33 | $ | 52 | |||||||||||
Free cash flow(2) | $ | (0 | ) | $ | 10 | $ | 26 | ||||||||||
Company Case 3 Projections | |||||||||||||||||
Revenue | $ | 149 | $ | 200 | $ | 259 | |||||||||||
Adjusted EBITDA(1) | $ | 19 | $ | 37 | $ | 59 | |||||||||||
Free cash flow(2) | $ | 1 | $ | 14 | $ | 33 |
2014E | 2015E | 2016E | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
($ in millions) | |||||||||||||||||
Company Case 2 Projections | |||||||||||||||||
Net (loss) income | $ | (5 | ) | $ | 2 | $ | 11 | ||||||||||
Interest income, net | — | — | — | ||||||||||||||
(Benefit) provision for income taxes | 0.3 | 5 | 11 | ||||||||||||||
Stock-based compensation | 6 | 7 | 8 | ||||||||||||||
Depreciation and amortization | 16 | 20 | 23 | ||||||||||||||
Adjusted EBITDA | $ | 17 | $ | 33 | $ | 52 | |||||||||||
Company Case 3 Projections | |||||||||||||||||
Net (loss) income | $ | (4 | ) | $ | 4 | $ | 15 | ||||||||||
Interest income, net | — | — | — | ||||||||||||||
(Benefit) provision for income taxes | 0.9 | 7 | 13 | ||||||||||||||
Stock-based compensation | 6 | 7 | 8 | ||||||||||||||
Depreciation and amortization | 16 | 20 | 23 | ||||||||||||||
Adjusted EBITDA | $ | 19 | $ | 37 | $ | 59 |
2014E | 2015E | 2016E | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
($ in millions) | |||||||||||||||||
Company Case 2 Projections | |||||||||||||||||
Adjusted EBITDA | $ | 17 | $ | 33 | $ | 52 | |||||||||||
Capital expenditures | (5 | ) | (8 | ) | (10 | ) | |||||||||||
Capitalized software development | (10 | ) | (12 | ) | (12 | ) | |||||||||||
Net working capital | (3 | ) | (4 | ) | (4 | ) | |||||||||||
Free cash flow | $ | (0 | ) | $ | 10 | $ | 26 | ||||||||||
Company Case 3 Projections | |||||||||||||||||
Adjusted EBITDA | $ | 19 | $ | 37 | $ | 59 | |||||||||||
Capital expenditures | (5 | ) | (8 | ) | (10 | ) | |||||||||||
Capitalized software development | (10 | ) | (12 | ) | (12 | ) | |||||||||||
Net working capital | (3 | ) | (4 | ) | (4 | ) | |||||||||||
Free cash flow | $ | 1 | $ | 14 | $ | 33 |
Firm Value / 2014E Revenue | Firm Value / 2014E EBITDA | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Healthcare IT: Mean | 3.83x | 18.4x | ||||||||||
Healthcare IT: Median | 3.29x | 12.0x | ||||||||||
Software: Mean | 6.45x | 36.7x | ||||||||||
Software: Median | 6.29x | 33.1x |
Valuation Basis (Applied Range) | Implied Per Share Price Range | ||||
---|---|---|---|---|---|
Firm Value/2014E Revenue (3.0x – 4.0x) | $18.75 – $24.50 | ||||
Firm Value/2014E EBITDA (15.0x – 20.0x) | $16.50 – $21.50 |
Acquiror | Target | ||||
---|---|---|---|---|---|
AthenaHealth, Inc. | Epocrates, Inc. | ||||
Piramal Healthcare Limited | Decision Resources Group | ||||
Veritas Capital | Thomson Reuters—Healthcare | ||||
Nuance Communications, Inc. | Transcend Information, Inc. | ||||
Vista Equity Partners | Sage Healthcare Division | ||||
The Blackstone Group L.P. | Emdeon Company | ||||
Experian plc | Medical Present Value, Inc. | ||||
Aetna Inc. | Medicity, Inc. | ||||
Vestar Capital Partners | Healthgrades Inc. | ||||
Allscripts Healthcare Solutions, Inc. | Eclipsys Corp | ||||
Oracle Corporation | Phase Forward, Inc. | ||||
TPG Capital | IMS Health Group Limited | ||||
Apax Partners LLP | TriZetto Corp. | ||||
Vestar Capital Partners | Press Ganey Associates, Inc. | ||||
Koninklijke Philips N.V. | Visicu, Inc. | ||||
McKesson Corporation | Per-Se Technologies, Inc. | ||||
General Electric Company | IDX Systems, Inc. | ||||
Per-Se Technologies, Inc. / Wolters Kluwer N.V. | NDCHealth Corp. |
Acquiror | Target | ||||
---|---|---|---|---|---|
Vista Equity Partners | Websense, Inc. | ||||
McAfee, Inc. | Stonesoft Corporation | ||||
Goldman Sachs PIA | EBIX, Inc. | ||||
NCR Corporation | Retalix Ltd. |
Acquiror | Target | ||||
---|---|---|---|---|---|
Siemens AG | LMS International | ||||
RedPrairie Corp. | JDA Software Group, Inc. | ||||
Riverbed Technology Inc | Opnet Technologies, Inc. | ||||
International Business Machines Corporation | Kenexa Corporation | ||||
Thoma Bravo, LLC | Deltek, Inc. | ||||
Dell, Inc. | Quest Software, Inc. | ||||
SAP AG | Ariba, Inc. | ||||
Blackbaud, Inc. | Convio, Inc. | ||||
Providence Equity Partners | Blackboard, Inc. | ||||
Epicor Software Corporation | NSB Retail Systems plc | ||||
The Carlyle Group | SS&C Technologies Holdings, Inc. |
Enterprise Value / Forward Revenue | Enterprise Value / Forward EBITDA | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Healthcare IT: Mean | 3.5x | 14.2x | ||||||||||
Healthcare IT: Median | 2.6x | 10.9x | ||||||||||
Software: Mean | 3.9x | 20.8x | ||||||||||
Software: Median | 3.0x | 19.7x |
Valuation Basis (Applied Range) | Implied Per Share Price Range | ||||
---|---|---|---|---|---|
Enterprise Value/FY 2014E Revenue (3.5x – 4.5x) | $17.25 – $22.00 | ||||
Enterprise Value/FY 2014E EBITDA (20.0x – 25.0x) | $12.50 – $15.50 |
Exhibit No. | Description | ||||
---|---|---|---|---|---|
(a)(1)(A) | Offer to Purchase, dated October 4, 2013 (incorporated by reference to Exhibit (a)(1)(A) to the Schedule TO of VCG Holdings, LLC and Crestview Acquisition Corp., filed with the Securities and Exchange Commission on October 4, 2013 (the “Schedule TO”)). | ||||
(a)(1)(B) | Letter of Transmittal for Shares (including Substitute Form W-9) (incorporated by reference to Exhibit (a)(1)(B) to the Schedule TO). | ||||
(a)(1)(C) | Letter from the Information Agent to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees (incorporated by reference to Exhibit (a)(1)(D) to the Schedule TO). | ||||
(a)(1)(D) | Letter to Clients for Use by Brokers, Dealers, Commercial Banks, Trust Companies and Nominees (incorporated by reference to Exhibit (a)(1)(E) to the Schedule TO). | ||||
(a)(1)(E) | Summary Advertisement as published in the Wall Street Journal on October 4, 2013 (incorporated by reference to Exhibit (a)(1)(G) to the Schedule TO). | ||||
(a)(1)(F) | Joint Press release issued by Greenway and Vista Equity Partners Fund IV, L.P., dated September 23, 2013 (incorporated herein by reference to the press release filed under the cover of Schedule 14D-9C by Greenway on September 23, 2013). | ||||
(a)(1)(G) | Joint Press release issued by Greenway and Vista Equity Partners Fund IV, L.P., dated October 4, 2013 (incorporated herein by reference to Exhibit 99.1 to Greenway’s Current Report on Form 8-K filed with the Securities and Exchange Commission on October 4, 2013). | ||||
(a)(1)(H) | Information Statement pursuant to Section 14(f) of the Securities Exchange Act of 1934, as amended, and Rule 14f-1 thereunder (incorporated by reference to Annex I attached to this Schedule 14D-9). | ||||
(a)(5)(A) | Opinion of J.P. Morgan Securities LLC to the Board of Directors of Greenway Medical Technologies, Inc. dated September 23, 2013 (incorporated by reference to Annex II attached to this Schedule 14D-9). | ||||
(e)(1) | Agreement and Plan of Merger, dated September 23, 2013, by and among Greenway Medical Technologies, Inc., VCG Holdings, LLC, and Crestview Acquisition Corp. (incorporated by reference to Exhibit 2.1 to Greenway’s Current Report on Form 8-K |
Exhibit No. | Description | ||||
---|---|---|---|---|---|
filed with the Securities and Exchange Commission on September 23, 2013). | |||||
(e)(2)(A) | Confidentiality Agreement, dated June 14, 2013, between Greenway Medical Technologies, Inc. and Vista Equity Partners III, LLC (incorporated by reference to Exhibit (d)(2) to the Schedule TO). | ||||
(e)(2)(B) | First Amendment to the Confidentiality Agreement, dated September 16, 2013, between Greenway Medical Technologies, Inc. and Vista Equity Partners III, LLC (incorporated by reference to Exhibit (d)(3) to the Schedule TO). | ||||
(e)(3) | Form of Indemnification Agreement by and between Greenway Medical Technologies, Inc. and each of its directors (incorporated by reference to Exhibit 10.4 to Greenway’s Form S-1/A (File No. 333-175619) filed on January 18, 2012). | ||||
(e)(4) | Greenway Medical Technologies, Inc. 2011 Stock Plan (incorporated by reference to Exhibit 10.1 to Greenway’s Form S-1/A (File No. 333-175619) filed on January 18, 2012). | ||||
(e)(5)(A) | Greenway Medical Technologies, Inc. 2004 Stock Plan (incorporated by reference to Exhibit 10.2 to Greenway’s Form S-1/A (File No. 333-175619) filed on August 26, 2011). | ||||
(e)(5)(B) | 2004 Stock Plan Form of ISO and NSO Notice of Stock Option Grant and Stock Option Agreement (incorporated by reference to Exhibit 10.2.1 to Greenway’s Form S-1/A (File No. 333-175619) filed on August 26, 2011). | ||||
(e)(5)(C) | Amendment to 2004 Stock Plan (incorporated by reference to Exhibit 10.2.2 to Greenway’s Form S-1/A (File No. 333-175619) filed on January 18, 2012). | ||||
(e)(6)(A) | Greenway Medical Technologies 1999 Stock Option Plan, as amended (incorporated by reference to Exhibit 10.3 to Greenway’s Form S-1/A (File No. 333-175619) filed on August 26, 2011). | ||||
(e)(6)(B) | 1999 Stock Option Plan Form of ISO Agreement (incorporated by reference to Exhibit 10.3.1 to Greenway’s Form S-1/A (File No. 333-175619) filed on August 26, 2011). | ||||
(e)(6)(C) | 1999 Stock Option Plan Form of Non-Qualified Stock Option Agreement (incorporated by reference to Exhibit 10.3.2 to Greenway’s Form S-1/A (File No. 333-175619) filed on August 26, 2011). | ||||
(e)(7) | Form of 2011 Incentive Bonus Plan (incorporated by reference to Exhibit 10.9 to Greenway’s Form S-1/A (File No. 333-175619) filed on January 18, 2012). | ||||
(e)(8)+ | Form of 2012 Incentive Bonus Plan (incorporated by reference to Exhibit 10.1 of Greenway’s Form 8-K filed on March 5, 2012). | ||||
(e)(9) | Form of Greenway Medical Technologies, Inc. 2011 Stock Plan Stock Option Award Agreement (incorporated by reference to Exhibit 10.2 of Greenway’s Form 8-K filed on March 5, 2012). |
Name | Age | Position | ||||||
---|---|---|---|---|---|---|---|---|
W. Thomas Green, Jr. | 69 | Chairman of the Board | ||||||
Wyche T. Green, III | 41 | President, Chief Executive Officer and Director | ||||||
Thomas T. Richards | 72 | Director | ||||||
Walter Turek | 61 | Director | ||||||
Robert Z. Hensley | 56 | Director | ||||||
D. Neal Morrison | 52 | Director | ||||||
Noah Walley | 50 | Director | ||||||
Gregory H. Schulenburg | 48 | Executive Vice President and Chief Operating Officer | ||||||
James A. “Al” Cochran | 66 | Chief Financial Officer | ||||||
William G. Esslinger, Jr. | 42 | Vice President, General Counsel and Secretary |
Name of Beneficial Owner | Amount and Nature of Beneficial Ownership(1) | Percent of Outstanding Shares | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
5% Stockholders | ||||||||||||
Investor Group L.P.(2) | 2,109,431 | 7.1 | % | |||||||||
Investor Growth Capital Limited(3) | 4,922,009 | 16.5 | % | |||||||||
Pamlico Capital II, L.P.(4) | 5,294,679 | 17.7 | % | |||||||||
Named Executive Officers and Directors | ||||||||||||
W. Thomas Green, Jr.(5) | 2,304,063 | 7.7 | % | |||||||||
Wyche T. Green, III(6) | 645,643 | 2.1 | % | |||||||||
Gregory H. Schulenburg(7) | 170,613 | * | ||||||||||
James A. Cochran(8) | 131,752 | * | ||||||||||
William G. Esslinger, Jr.(9) | 146,580 | * | ||||||||||
Robert Hensley(10) | 25,050 | * | ||||||||||
Neal Morrison(11) | 22,300 | * | ||||||||||
Thomas T. Richards(12) | 339,963 | 1.1 | % | |||||||||
Walter Turek(13) | 153,300 | * | ||||||||||
Noah Walley(14) | 22,300 | * | ||||||||||
All directors and executive officers as a group (10 persons)(15) | 3,961,564 | 12.8 | % |
Name | Total number of options granted | ||||||
---|---|---|---|---|---|---|---|
Wyche T. Green, III | 106,000 | ||||||
James A. Cochran | 41,000 | ||||||
W. Thomas Green, Jr. | 43,000 | ||||||
Gregory H. Schulenburg | 42,000 | ||||||
William G. Esslinger, Jr. | 32,000 |
Name and principal position | Year | Salary ($) | Non-equity incentive plan compensation ($)(1) | Option awards ($)(2)(3) | All other compensation ($) | Total ($) | ||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Wyche T. Green, III, President and Chief Executive Officer | 2013 | 402,500 | — | 913,720 | — | 1,316,220 | ||||||||||||||||||||||||||
2012 | 350,000 | 261,818 | 1,173,850 | — | 1,785,668 | |||||||||||||||||||||||||||
2011 | 325,373 | 226,469 | 392,400 | — | 944,242 | |||||||||||||||||||||||||||
James A. Cochran, Chief Financial Officer | 2013 | 275,865 | — | 353,420 | — | 629,285 | ||||||||||||||||||||||||||
2012 | 248,000 | 154,597 | 440,320 | — | 842,917 | |||||||||||||||||||||||||||
2011 | 247,676 | 172,587 | — | — | 420,263 | |||||||||||||||||||||||||||
W. Thomas Green, Jr., Chairman | 2013 | 288,000 | — | 370,660 | — | 658,660 | ||||||||||||||||||||||||||
2012 | 288,000 | 179,532 | 613,636 | — | 1,081,168 | |||||||||||||||||||||||||||
2011 | 288,000 | 200,687 | 44,888 | — | 533,575 | |||||||||||||||||||||||||||
Gregory H. Schulenburg, Executive Vice President and Chief Operating Officer | 2013 | 279,134 | — | 362,040 | — | 641,174 | ||||||||||||||||||||||||||
2012 | 265,000 | 165,194 | 534,660 | — | 964,854 | |||||||||||||||||||||||||||
2011 | 223,353 | 155,639 | 249,248 | — | 628,240 | |||||||||||||||||||||||||||
William G. Esslinger, Jr., Vice President, General Counsel and Secretary | 2013 | 212,115 | — | 275,840 | — | 487,955 | ||||||||||||||||||||||||||
2012 | 200,000 | 99,740 | 386,715 | — | 686,455 | |||||||||||||||||||||||||||
2011 | 173,254 | 69,500 | 43,874 | — | 286,628 |
Name and principal position | Grant date ($) | Estimated possible payouts under non-equity incentive plan awards(1) | All other option awards: number of securities underlying options (#) | Exercise or base price of option awards ($/Sh) | Grant date fair value of stock and option awards ($) | ||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Threshold ($) | Target ($) | Maximum ($) | |||||||||||||||||||||||||||||||||||
Wyche T. Green, III, President and Chief Executive Officer | 9/24/2012 | 167,500 | 249,000 | 498,000 | 106,000 | (2) | 15.99 | 913,720 | |||||||||||||||||||||||||||||
James A. Cochran, Chief Financial Officer | 9/24/2012 | 92,000 | 141,000 | 282,000 | 41,000 | (2) | 15.99 | 353,420 | |||||||||||||||||||||||||||||
W. Thomas Green, Jr., Chairman | 9/24/2012 | 94,800 | 144,000 | 288,000 | 43,000 | (2) | 15.99 | 370,660 | |||||||||||||||||||||||||||||
Gregory H. Schulenburg, Executive Vice President and Chief Operating Officer | 9/24/2012 | 92,000 | 141,000 | 242,000 | 42,000 | (2) | 15.99 | 362,040 | |||||||||||||||||||||||||||||
William G. Esslinger, Jr., Vice President, General Counsel and Secretary | 9/24/2012 | 56,000 | 86,000 | 172,000 | 32,000 | (2) | 15.99 | 275,840 |
Option awards | ||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Name | Number of securities underlying unexercised options exercisable | Number of securities underlying unexercised options unexercisable | Option exercise price ($) | Option expiration date | ||||||||||||||||||
Wyche T. Green, III, President and Chief Executive Officer | 20,000 | — | 4.75 | 2/16/2015 | ||||||||||||||||||
54,700 | — | 4.75 | 8/18/2015 | |||||||||||||||||||
75,701 | — | 4.75 | 10/18/2017 | |||||||||||||||||||
4,184 | — | 4.75 | 9/18/2018 | |||||||||||||||||||
500 | — | 5.19 | 9/15/2019 | |||||||||||||||||||
26,875 | 3,125 | (1) | 5.19 | 11/4/2019 | ||||||||||||||||||
10,625 | 4,375 | (2) | 6.92 | 10/18/2020 | ||||||||||||||||||
72,917 | 52,083 | (3) | 7.09 | 2/1/2021 | ||||||||||||||||||
7,188 | 7,812 | (4) | 13.31 | 7/14/2021 | ||||||||||||||||||
29,114 | 78,386 | (5) | 16.25 | 5/30/2022 | ||||||||||||||||||
— | 106,000 | (7) | 15.99 | 9/24/2022 | ||||||||||||||||||
James A. Cochran, Chief Financial Officer | 14,225 | 14,444 | (1) | 5.19 | 11/4/2019 | |||||||||||||||||
11,645 | 31,355 | (5) | 16.25 | 5/30/2022 | ||||||||||||||||||
— | 41,000 | (7) | 15.99 | 9/24/2022 | ||||||||||||||||||
W. Thomas Green, Jr., Chairman | 58,912 | — | 4.75 | 8/18/2015 | ||||||||||||||||||
70,505 | — | 4.75 | 10/18/2017 | |||||||||||||||||||
7,766 | — | 4.75 | 9/18/2018 | |||||||||||||||||||
500 | — | 5.19 | 9/15/2019 | |||||||||||||||||||
30,235 | 3,515 | (1) | 5.19 | 11/4/2019 | ||||||||||||||||||
11,954 | 4,921 | (2) | 6.92 | 10/18/2020 | ||||||||||||||||||
8,086 | 8,789 | (4) | 13.31 | 7/14/2021 | ||||||||||||||||||
14,056 | 37,844 | (5) | 16.25 | 5/30/2022 | ||||||||||||||||||
— | 43,000 | (7) | 15.99 | 9/24/2022 |
Option awards | ||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Name | Number of securities underlying unexercised options exercisable | Number of securities underlying unexercised options unexercisable | Option exercise price ($) | Option expiration date | ||||||||||||||||||
Gregory H. Schulenburg, Executive Vice President and Chief Operating Officer | 6,000 | — | 5.19 | 9/15/2019 | ||||||||||||||||||
11,198 | 1,302 | (1) | 5.19 | 11/4/2019 | ||||||||||||||||||
308 | — | 6.92 | 6/30/2020 | |||||||||||||||||||
4,428 | 1,822 | (2) | 6.92 | 10/18/2020 | ||||||||||||||||||
851 | — | 7.09 | 2/1/2021 | |||||||||||||||||||
25,000 | — | 7.09 | 2/1/2021 | |||||||||||||||||||
25,000 | — | 7.09 | 2/1/2021 | |||||||||||||||||||
2,000 | — | 7.09 | 2/1/2021 | |||||||||||||||||||
135 | 96 | (3) | 7.09 | 2/1/2021 | ||||||||||||||||||
1,750 | 1,250 | (3) | 7.09 | 2/1/2021 | ||||||||||||||||||
15,416 | 11,010 | (3) | 7.09 | 2/1/2021 | ||||||||||||||||||
1,875 | 1,875 | (6) | 11.58 | 6/28/2021 | ||||||||||||||||||
2,995 | 3,255 | (4) | 13.31 | 7/14/2021 | ||||||||||||||||||
12,945 | 34,855 | (5) | 16.25 | 5/30/2022 | ||||||||||||||||||
— | 42,000 | (7) | 15.99 | 9/24/2022 | ||||||||||||||||||
William G. Esslinger, Jr., Vice President, General Counsel and Secretary | 4,480 | 520 | (1) | 5.19 | 11/4/2019 | |||||||||||||||||
20,000 | — | 6.92 | 6/30/2020 | |||||||||||||||||||
1,771 | 729 | (2) | 6.92 | 10/18/2020 | ||||||||||||||||||
133 | — | 7.09 | 2/1/2021 | |||||||||||||||||||
2,000 | — | 7.09 | 2/1/2021 | |||||||||||||||||||
5,834 | 4,166 | (3) | 7.09 | 2/1/2021 | ||||||||||||||||||
623 | 444 | (3) | 7.09 | 2/1/2021 | ||||||||||||||||||
3,750 | 3,750 | (6) | 11.58 | 6/28/2021 | ||||||||||||||||||
1,198 | 1,302 | (4) | 13.31 | 7/14/2021 | ||||||||||||||||||
9,750 | 26,250 | (5) | 16.25 | 5/30/2022 | ||||||||||||||||||
— | 32,000 | (7) | 15.99 | 9/24/2022 |
Option awards | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Name | Number of shares acquired on exercise (#) | Value realized on exercise ($) | ||||||||||
Wyche T. Green, III | 34,044 | 303,332 | ||||||||||
James A. Cochran | 110,000 | 1,286,750 | ||||||||||
W. Thomas Green, Jr. | 144,851 | 1,290,622 | ||||||||||
Gregory H. Schulenburg | 18,175 | 202,720 | ||||||||||
William G. Esslinger, Jr. | 16,576 | 148,937 |
Name | Fees earned or paid $ | Stock awards | Option awards(1)(2) $ | Non-equity incentive plan compensation | Change in pension value and NQDC earnings | All other compensation | Total $ | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Noah Walley | 38,750 | — | 46,144 | — | — | — | 84,894 | ||||||||||||||||||||||||||||||
Thomas T. Richards | 28,750 | — | 46,144 | — | — | — | 74,894 | ||||||||||||||||||||||||||||||
Walter Turek | 36,250 | — | 46,144 | — | — | — | 82,394 | ||||||||||||||||||||||||||||||
D. Neal Morrison | 28,750 | — | 46,144 | — | — | — | 74,894 | ||||||||||||||||||||||||||||||
Robert Z. Hensley | 43,750 | — | 46,144 | — | — | — | 89,894 |
2013 | 2012 | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Audit fees | $ | 235,241 | $ | 122,177 | ||||||||
Audit-related fees | — | 633,994 | ||||||||||
Tax fees | 33,800 | 179,437 | ||||||||||
All other fees | — | — | ||||||||||
Total fees | $ | 269,041 | $ | 935,608 |