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| EXHIBITS | | | | | EXA-1 | | |
| | | | | EXA-1 | | |
Proposal
|
| |
Discussion
Beginning on Page |
| |
Vote Required to
Adopt Proposal |
| |
Board
Recommendation |
| |
Broker
Discretionary Voting Allowed? |
| |
Effect of
Abstentions |
| |
Effect of
Broker Non-Votes |
|
1. Election of eleven directors | | |
20
|
| |
A majority of the votes cast by the holders of shares of the Company’s common stock present in person or by proxy at the Annual Meeting and entitled to vote thereon
|
| |
FOR
|
| |
No
|
| |
No effect
|
| |
No effect
|
|
2. Ratification of appointment of independent registered public accounting firm
|
| |
22
|
| |
The vote of the holders of a majority of the shares of the Company’s common stock present in person or by proxy at the Annual Meeting and entitled to vote thereon
|
| |
FOR
|
| |
Yes
|
| |
Same effect as a vote against
|
| |
N/A
(brokers have discretion to vote) |
|
3. Non-binding advisory vote on fiscal 2022 compensation paid to our named executive officers
|
| |
24
|
| |
The vote of the holders of a majority of the shares of the Company’s common stock present in person or by proxy at the Annual Meeting and entitled to vote thereon
|
| |
FOR
|
| |
No
|
| |
Same effect as a vote against
|
| |
No effect
|
|
Name
|
| |
Age
|
| |
Audit and Risk
Committee Member |
| |
Cybersecurity and
Technology Committee Member |
| |
Talent,
Compensation and Culture Committee Member |
| |
Nominating,
Governance and Corporate Sustainability Committee Member |
| |||||||||||||||
Robert Selander, Chairman | | | | | 71 | | | | | | | | | | | | | | | | | | X | | | | | | X | | |
Jon Kessler | | | | | 54 | | | | | | | | | | | | | | | | | | | | | | | | | | |
Stephen Neeleman, M.D. | | | | | 54 | | | | | | | | | | | | | | | | | | | | | | | | | | |
Frank Corvino | | | | | 73 | | | | | | X | | | | | | | | | | | | X | | | | | | | | |
Adrian Dillon | | | | | 68 | | | | | | X* | | | | | | X | | | | | | | | | | | | | | |
Evelyn Dilsaver | | | | | 67 | | | | | | X | | | | | | | | | | | | | | | | | | X* | | |
Debra McCowan | | | | | 50 | | | | | | | | | | | | | | | | | | X* | | | | | | X | | |
Rajesh Natarajan | | | | | 52 | | | | | | | | | | | | X | | | | | | | | | | | | | | |
Stuart Parker | | | | | 60 | | | | | | | | | | | | X | | | | | | X | | | | | | | | |
Ian Sacks | | | | | 51 | | | | | | | | | | | | X | | | | | | | | | | | | X | | |
Gayle Wellborn | | | | | 62 | | | | | | X | | | | | | X* | | | | | | | | | | | | | | |
Total Number of Directors
|
| |
11
|
| |||||||||||||||||||||
| | |
Female
|
| |
Male
|
| |
Non-Binary
|
| |
Did Not
|
| ||||||||||||
Part I: Gender Identity | | | | | | | | | | | | | | | | | | | | | | | | | |
Directors
|
| | | | 3 | | | | | | 8 | | | | | | 0 | | | | | | 0 | | |
Part II: Demographic Background | | | | | | | | | | | | | | | | | | | | | | | | | |
African American or Black
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
Alaskan Native or Native American
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
Asian
|
| | | | 2 | | | | | | 1 | | | | | | 0 | | | | | | 0 | | |
Hispanic or Latinx
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
Native Hawaiian or Pacific Islander
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
White
|
| | | | 1 | | | | | | 7 | | | | | | 0 | | | | | | 0 | | |
Two or More Races or Ethnicities
|
| | | | 0 | | | | | | 0 | | | | | | 0 | | | | | | 0 | | |
LGBTQ+
|
| |
0
|
| |||||||||||||||||||||
Did Not Disclose Demographic Background
|
| |
0
|
|
ESG Topic
|
| |
Oversight Committee
|
|
Customer Privacy and Data Security | | | Cybersecurity and Technology | |
Anti-Corruption | | | Nominating, Governance and Corporate Sustainability | |
Diversity and Equal Opportunity | | | | |
Covid-19 Response | | | Talent, Culture and Compensation | |
Employment and Employee Benefits | | | | |
Non-Discrimination | | | | |
(in thousands)
|
| |
2022
|
| |
2021
|
| ||||||
Audit fees(1)
|
| | | $ | 6,307 | | | | | $ | 6,148 | | |
Audit-related fees(2)
|
| | | | — | | | | | | — | | |
Tax fees(3)
|
| | | | — | | | | | | — | | |
All other fees(4)
|
| | | | 9 | | | | | | 5 | | |
Total
|
| | | $ | 6,316 | | | | | $ | 6,153 | | |
Name
|
| |
Age
|
| |
Position(s)
|
| |||
Jon Kessler | | | | | 54 | | | | President and Chief Executive Officer | |
Stephen Neeleman, M.D. | | | | | 54 | | | | Founder and Vice Chairman | |
Edward Bloomberg | | | | | 46 | | | | Executive Vice President, Chief Operating Officer | |
Delano Ladd | | | | | 41 | | | |
Executive Vice President, General Counsel and Corporate Secretary
|
|
Tyson Murdock | | | | | 51 | | | | Executive Vice President, Chief Financial Officer | |
Elimelech Rosner | | | | | 65 | | | | Executive Vice President, Chief Technology Officer | |
Larry Trittschuh | | | | | 50 | | | | Executive Vice President, Chief Security Officer | |
|
•
ACI Worldwide, Inc.
|
| |
•
Health Catalyst, Inc.
|
| |
•
Progyny, Inc.
|
|
|
•
Black Knight, Inc.
|
| |
•
HMS Holdings Corp.
|
| |
•
RealPage, Inc.
|
|
|
•
Ceridian HCM Holding Inc.
|
| |
•
Inovalon Holdings, Inc.
|
| |
•
Teladoc Health, Inc.
|
|
|
•
Cornerstone OnDemand, Inc.
|
| |
•
Omnicell, Inc.
|
| |
•
Tyler Technologies, Inc.
|
|
|
•
Envestnet, Inc.
|
| |
•
Paycom Software, Inc.
|
| |
•
Verint Systems Inc.
|
|
|
•
Green Dot Corporation
|
| |
•
Paylocity Holding Corporation
|
| |
•
WEX Inc.
|
|
|
•
Guidewire Software Inc.
|
| |
•
Pluralsight, Inc.
|
| | | |
Compensation Element
|
| |
Primary Purpose of Compensation
Element |
| |
Philosophy Behind Providing
Compensation Element |
|
Annual Compensation: | | | | | | | |
Base Salary | | |
•
A fixed portion of the compensation that reflects expertise and scope of responsibilities.
|
| |
•
Provides a base component of total compensation.
•
Attracts and retains key talent.
•
Provides financial certainty and stability.
•
Recognition of individual performance.
|
|
Performance-Based Annual Cash Bonus Opportunity
|
| |
•
Provides “at-risk” pay that reflects annual Company performance and performance against strategic accomplishments.
•
Rewards “top-line” growth and “bottom-line” profitability.
•
Rewards execution of our annual operating plan.
|
| |
•
Promotes the achievement of financial and operational performance metrics important to stockholders.
•
Reinforces the importance of pre-established strategic accomplishments and goals.
•
Rewards team success.
|
|
Long-Term Compensation: | | | | | | | |
Long-Term Incentive Program | | |
•
Provides “at-risk” pay with a long-term focus, subject to both performance-based and service-based vesting requirements.
|
| |
•
Retains talent through long-term wealth-creation opportunities.
•
Attracts and retains key talent.
•
Aligns our executive officers’ and long-term stockholders’ interests.
•
Reflects long-term performance.
|
|
Other Executive Benefits: | | | | | | | |
Retirement Programs and Other Benefits
|
| |
•
Provides income security for retirement.
•
Provides competitive benefits to team members.
|
| |
•
Provides for safety and wellness of our team members.
•
Attracts and retains key talent.
|
|
Named Executive Officer
|
| |
Fiscal Year 2022
Base Salary ($)(1) |
| |
Fiscal Year 2021
Base Salary ($) |
| |
% Base Salary
Increase (Decrease) |
| |||||||||
Mr. Kessler
|
| | | | 700,000 | | | | | | 700,000 | | | | | | 0% | | |
Dr. Neeleman
|
| | | | 400,000 | | | | | | 400,000 | | | | | | 0% | | |
Mr. Murdock
|
| | | | 350,000 | | | | | | 305,000 | | | | | | 15% | | |
Mr. Mott
|
| | | | 350,000 | | | | | | 400,000 | | | | | | (13)% | | |
Mr. Bloomberg
|
| | | | 475,000 | | | | | | 400,000 | | | | | | 19% | | |
Mr. Trittschuh
|
| | | | 450,000 | | | | | | 400,000 | | | | | | 13% | | |
Named Executive Officer
|
| |
Fiscal Year 2022 Target
Annual Cash Bonus Opportunity (as a percentage of base salary) |
| |
Fiscal Year 2022 Target
Annual Cash Bonus Opportunity ($) |
| ||||||
Mr. Kessler
|
| | | | 100% | | | | | | 700,000 | | |
Dr. Neeleman
|
| | | | 75% | | | | | | 300,000 | | |
Mr. Murdock
|
| | | | 75% | | | | | | 262,500 | | |
Mr. Mott
|
| | | | —% | | | | | | — | | |
Mr. Bloomberg
|
| | | | 75% | | | | | | 356,250 | | |
Mr. Trittschuh
|
| | | | 50% | | | | | | 225,000 | | |
| | |
Funding Percentage(1)
|
| |
Weighting
Factor |
| |||||||||
Operating Objective
|
| |
50%
|
| |
100%
|
| |
200%
|
| ||||||
Revenue
|
| |
$745 million
|
| |
$755 million
|
| |
$775 million
|
| | | | 25% | | |
Adjusted EBITDA margin
|
| |
31%
|
| |
32%
|
| |
34%
|
| | | | 25% | | |
New HSA sales
|
| |
700,000
|
| |
800,000
|
| |
950,000
|
| | | | 12.5% | | |
HSA Assets
|
| |
$15.5 billion
|
| |
$16.0 billion
|
| |
$17.0 billion
|
| | | | 12.5% | | |
Individual and team performance
|
| |
Funded at a blended rate of all categories
|
| | | | 25% | | |
Corporate Performance Measure
|
| |
Target
Performance Level ($ in thousands) |
| |
Actual
Performance Level ($ in thousands) |
| |
Funding
Percentage |
| |
Payment
Weighting Percentage |
| |
Weighted
Funding Percentage |
| |||||||||||||||
Revenue
|
| | | | 755,000 | | | | | | 756,556 | | | | | | 107.8% | | | | | | 25.0% | | | | | | 27.0% | | |
Adjusted EBITDA margin
|
| | | | 32.0% | | | | | | 31.2% | | | | | | 59.7% | | | | | | 25.0% | | | | | | 14.9% | | |
New HSA sales
|
| | | | 800,000 | | | | | | 918,000 | | | | | | 178.4% | | | | | | 12.5% | | | | | | 22.3% | | |
HSA Assets
|
| |
$16.0 billion
|
| |
$19.6 billion
|
| | | | 200.0% | | | | | | 12.5% | | | | | | 25.0% | | | ||||||
Individual and team performance
|
| | | | N/A | | | | | | N/A | | | | | | 118.9% | | | | | | 25.0% | | | | | | 29.7% | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | 118.9% | | |
| | |
Fiscal Year 2022 Target Annual Cash
Bonus Opportunity at 100% achievement |
| |
Fiscal Year 2022 Annual Cash Bonus
Opportunity at maximum achievement |
| |
Fiscal Year
2022 Actual Cash Bonus Paid ($) |
| |
Fiscal Year 2022
Actual Cash Bonus as a Percentage of Bonus Opportunity at 100% achievement (%) |
| ||||||||||||||||||||||||||||||||||||
Named Executive Officer
|
| |
Individual /
Team Performance ($) |
| |
Company
Performance ($) |
| |
Total
|
| |
Individual /
Team Performance ($) |
| |
Company
Performance ($) |
| |
Total
|
| ||||||||||||||||||||||||||||||
Mr. Kessler
|
| | | | 175,000 | | | | | | 525,000 | | | | | | 700,000 | | | | | | 350,000 | | | | | | 1,050,000 | | | | | | 1,400,000 | | | | | | 525,000 | | | | | | 75 | | |
Dr. Neeleman
|
| | | | 75,000 | | | | | | 225,000 | | | | | | 300,000 | | | | | | 150,000 | | | | | | 450,000 | | | | | | 600,000 | | | | | | 225,000 | | | | | | 75 | | |
Mr. Murdock
|
| | | | 65,625 | | | | | | 196,875 | | | | | | 262,500 | | | | | | 131,250 | | | | | | 393,750 | | | | | | 525,000 | | | | | | 196,875 | | | | | | 75 | | |
Mr. Mott
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | N/A | | |
Mr. Bloomberg
|
| | | | 86,790 | | | | | | 260,368 | | | | | | 347,158 | | | | | | 173,580 | | | | | | 520,736 | | | | | | 694,316 | | | | | | 260,368 | | | | | | 75 | | |
Mr. Trittschuh
|
| | | | 55,208 | | | | | | 165,625 | | | | | | 220,834 | | | | | | 110,417 | | | | | | 331,250 | | | | | | 441,667 | | | | | | 165,719 | | | | | | 75 | | |
| | |
Funding Percentage(1)
|
| |
Weighting
Factor |
| |||||||||
Operating Objective
|
| |
50%
|
| |
100%
|
| |
150%
|
| ||||||
Revenue
|
| |
97.5% of target
|
| |
100% of target
|
| |
102.5% of target
|
| | | | 25% | | |
Adjusted EBITDA
|
| |
96% of target
|
| |
100% of target
|
| |
104% of target
|
| | | | 50% | | |
New HSA sales
|
| |
90% of target
|
| |
100% of target
|
| |
110% of target
|
| | | | 25% | | |
Relative Total Stockholder Return
|
| |
Shares Subject to the
Award That Become Vested |
| |||
<10th percentile
|
| | | | 0% | | |
10th percentile
|
| | | | 25% | | |
50th percentile
|
| | | | 100% | | |
≥90th percentile
|
| | | | 200% | | |
Named Executive Officer
|
| |
Date of Grant
|
| |
Performance-based
Vesting Restricted Stock Units (Granted at Target) (#) |
| |
Time-based
Vesting Restricted Stock Units (#) |
| ||||||
Mr. Kessler
|
| |
March 30, 2021
|
| | | | 97,015 | | | | | | — | | |
Dr. Neeleman
|
| |
March 30, 2021
|
| | | | 14,925 | | | | | | 7,463 | | |
Mr. Murdock
|
| |
March 30, 2021
|
| | | | 17,413 | | | | | | 8,706 | | |
Mr. Mott
|
| |
N/A
|
| | | | — | | | | | | — | | |
Mr. Bloomberg
|
| |
March 30, 2021
|
| | | | 27,363 | | | | | | 13,682 | | |
Mr. Trittschuh
|
| |
March 30, 2021
|
| | | | 13,930 | | | | | | 6,965 | | |
Cumulative 3-Year Revenue Compound Annual Growth Rate During
Performance Period |
| |
Shares Subject to the
Award That Become Vested |
| |||
≤15%
|
| | | | 0% | | |
15%
|
| | | | 50% | | |
20%
|
| | | | 100% | | |
25%
|
| | | | 200% | | |
|
Net Cash Provided by Operating Activities
($ in millions) |
| |
Shares Subject
to the Award That Become Vested |
| |||
|
Fiscal Year 2021
|
| |
Fiscal Year 2022
|
| |||
|
100
|
| |
150
|
| |
50%
|
|
|
150
|
| |
200
|
| |
100%
|
|
|
200
|
| |
250
|
| |
200%
|
|
Name and Principal Position
|
| |
Ownership Guideline
(Multiple of Annual Base Salary) |
| |
Compliance Date
|
| |
Compliance Status
|
|
Mr. Kessler
President & Chief Executive Officer |
| |
6x
|
| |
July 31, 2021
|
| |
In compliance
|
|
Dr. Neeleman
Founder and Vice Chairman |
| |
5x
|
| |
July 31, 2021
|
| |
In compliance
|
|
Mr. Murdock
Executive Vice President and Chief Financial Officer |
| |
3x
|
| |
April 1, 2026
|
| |
N/A
|
|
Mr. Bloomberg
Executive Vice President and Chief Operating Officer |
| |
3x
|
| |
August 13, 2023
|
| |
N/A
|
|
Mr. Trittschuh
Executive Vice President and Chief Security Officer |
| |
1.5x
|
| |
December 17, 2023
|
| |
N/A
|
|
Name and Principal
Position |
| |
Fiscal
Year End(1) |
| |
Salary
($) |
| |
Bonus
($)(2) |
| |
Stock
Awards ($)(3) |
| |
Option
Awards ($)(4) |
| |
Non-Equity
Incentive Plan Compensation ($)(2) |
| |
Change in
Pension Value and Nonqualified Deferred Compensation Earnings ($) |
| |
All Other
Compensation ($)(5) |
| |
Total
($) |
| |||||||||||||||||||||||||||
Jon Kessler
President & Chief Executive Officer |
| | | | 2022 | | | | | | 700,000 | | | | | | — | | | | | | 8,711,947 | | | | | | — | | | | | | 525,000 | | | | | | — | | | | | | 10,675 | | | | | | 9,947,622 | | |
| | | 2021 | | | | | | 666,667 | | | | | | — | | | | | | 8,012,443 | | | | | | — | | | | | | 646,700 | | | | | | — | | | | | | 73,673 | | | | | | 9,399,483 | | | ||
| | | 2020 | | | | | | 500,000 | | | | | | 750,000 | | | | | | 2,666,667 | | | | | | 1,333,333 | | | | | | — | | | | | | — | | | | | | 15,794 | | | | | | 5,265,794 | | | ||
Stephen Neeleman, M.D.
Founder and Vice Chairman |
| | | | 2022 | | | | | | 400,000 | | | | | | — | | | | | | 1,840,286 | | | | | | — | | | | | | 225,000 | | | | | | — | | | | | | 10,675 | | | | | | 2,475,961 | | |
| | | 2021 | | | | | | 400,000 | | | | | | — | | | | | | 1,630,645 | | | | | | — | | | | | | 291,000 | | | | | | — | | | | | | 44,030 | | | | | | 2,365,675 | | | ||
| | | 2020 | | | | | | 400,000 | | | | | | 450,000 | | | | | | 800,000 | | | | | | 400,000 | | | | | | — | | | | | | — | | | | | | 13,540 | | | | | | 2,063,540 | | | ||
Tyson Murdock(6)
Executive Vice President and Chief Financial Officer |
| | | | 2022 | | | | | | 350,000 | | | | | | — | | | | | | 2,146,989 | | | | | | — | | | | | | 196,875 | | | | | | — | | | | | | 10,675 | | | | | | 2,704,539 | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
Darcy Mott
Former Executive VicePresident and Chief Financial Officer |
| | | | 2022 | | | | | | 358,333 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,675 | | | | | | 369,008 | | |
| | | 2021 | | | | | | 400,000 | | | | | | — | | | | | | 1,630,645 | | | | | | — | | | | | | 291,000 | | | | | | — | | | | | | 9,979 | | | | | | 2,331,624 | | | ||
| | | 2020 | | | | | | 400,000 | | | | | | 450,000 | | | | | | 800,000 | | | | | | 400,000 | | | | | | — | | | | | | — | | | | | | 15,686 | | | | | | 2,065,686 | | | ||
Edward Bloomberg
Executive Vice President and Chief Operating Officer |
| | | | 2022 | | | | | | 462,500 | | | | | | — | | | | | | 3,373,891 | | | | | | — | | | | | | 260,368 | | | | | | — | | | | | | 10,675 | | | | | | 4,107,434 | | |
| | | 2021 | | | | | | 400,000 | | | | | | — | | | | | | 2,609,112 | | | | | | — | | | | | | 291,000 | | | | | | — | | | | | | 12,506 | | | | | | 3,312,618 | | | ||
| | | 2020 | | | | | | 400,000 | | | | | | 450,000 | | | | | | 1,166,667 | | | | | | 583,333 | | | | | | — | | | | | | — | | | | | | 11,918 | | | | | | 2,611,918 | | | ||
Larry Trittschuh(6)
Executive Vice President and Chief Security Officer |
| | | | 2022 | | | | | | 441,667 | | | | | | — | | | | | | 1,717,569 | | | | | | — | | | | | | 165,719 | | | | | | — | | | | | | 10,675 | | | | | | 2,335,630 | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Estimated Future Payouts
Under Non-Equity Incentive Plan Awards |
| |
Estimated Future Payouts
Under Equity Incentive Plan Awards(1) |
| |
Number
of Other Stock Awards (#)(2) |
| |
Number
of Other Option Awards (#) |
| |
Exercise
Price of Option Awards ($/sh) |
| |
Grant
Date Fair Value of Stock and Option Awards ($)(3) |
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Grant
Date |
| |
Date of
Approval |
| |
Threshold
($) |
| |
Target
($) |
| |
Maximum
($) |
| |
Threshold
(#) |
| |
Target
(#) |
| |
Maximum
(#) |
| ||||||||||||||||||||||||||||||||||||||||||||||||
Jon Kessler
|
| | | | 3/30/2021 | | | | | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | 24,254 | | | | | | 97,015 | | | | | | 194,030 | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,711,947 | | |
| | | | | | | | | 3/30/2021 | | | | | | 350,000 | | | | | | 700,000 | | | | | | 1,400,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Stephen Neeleman, M.D.
|
| | | | 3/30/2021 | | | | | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,731 | | | | | | 14,925 | | | | | | 29,850 | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,340,265 | | |
| | | 3/30/2021 | | | | | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,463 | | | | | | — | | | | | | — | | | | | | 500,021 | | | ||
| | | | | | | | | 3/30/2021 | | | | | | 150,000 | | | | | | 300,000 | | | | | | 600,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Tyson Murdock
|
| | | | 3/30/2021 | | | | | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,353 | | | | | | 17,413 | | | | | | 34,826 | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,563,687 | | |
| | | 3/30/2021 | | | | | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,706 | | | | | | — | | | | | | — | | | | | | 583,302 | | | ||
| | | | | | | | | 3/30/2021 | | | | | | 131,250 | | | | | | 262,500 | | | | | | 525,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | | | ||
Darcy Mott
|
| | | | 3/30/2021 | | | | | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 3/30/2021 | | | | | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | | | | | | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Edward Bloomberg
|
| | | | 3/30/2021 | | | | | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,841 | | | | | | 27,363 | | | | | | 54,726 | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,457,197 | | |
| | | 3/30/2021 | | | | | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 13,682 | | | | | | — | | | | | | — | | | | | | 916,694 | | | ||
| | | | | | | | | 3/30/2021 | | | | | | 178,125 | | | | | | 356,250 | | | | | | 712,500 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
Larry Trittschuh
|
| | | | 3/30/2021 | | | | | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,483 | | | | | | 13,930 | | | | | | 27,860 | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,250,914 | | |
| | | 3/30/2021 | | | | | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,965 | | | | | | — | | | | | | — | | | | | | 466,655 | | | ||
| | | | | | | | | 3/30/2021 | | | | | | 112,500 | | | | | | 225,000 | | | | | | 450,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Relative Total Stockholder Return
|
| |
Shares Subject to the
Award That Become Vested |
| |||
<10th percentile
|
| | | | 0% | | |
10th percentile
|
| | | | 25% | | |
50th percentile
|
| | | | 100% | | |
≥90th percentile
|
| | | | 200% | | |
| | |
Options awards
|
| |
Stock awards
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Grant
Date |
| |
Number of
Securities Underlying Unexercised Options Exercisable (#) |
| |
Number of
Securities Underlying Unexercised Options Unexercisable (#)(1)(2) |
| |
Equity
Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options |
| |
Option
Exercise Price ($)(3) |
| |
Option
Expiration Date |
| |
Number of
Shares or Units of Stock That Have Not Vested (#)(1)(2) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested ($)(4) |
| |
Equity
Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(2)(5) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(4) |
| ||||||||||||||||||||||||||||||
Jon Kessler
|
| | | | 7/30/2014 | | | | | | 60,000(9) | | | | | | — | | | | | | — | | | | | | 14.00 | | | | | | 7/30/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 3/27/2017 | | | | | | 52,229(9) | | | | | | — | | | | | | — | | | | | | 41.28 | | | | | | 3/27/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/27/2018 | | | | | | 35,895(9) | | | | | | 11,964 | | | | | | — | | | | | | 61.72 | | | | | | 3/27/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/26/2019 | | | | | | 25,563(9) | | | | | | 25,562 | | | | | | — | | | | | | 73.61 | | | | | | 3/26/2029 | | | | | | 12,076(6) | | | | | | 645,341 | | | | | | 19,712(6) | | | | | | 1,053,409 | | | ||
| | | 3/31/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 108,717(7) | | | | | | 5,809,836 | | | ||
| | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 97,015(8) | | | | | | 5,184,482 | | | ||
Stephen Neeleman, M.D.
|
| | | | 7/30/2014 | | | | | | 140,000 | | | | | | — | | | | | | — | | | | | | 14.00 | | | | | | 7/30/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 3/27/2017 | | | | | | 19,897 | | | | | | — | | | | | | — | | | | | | 41.28 | | | | | | 3/27/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/27/2018 | | | | | | 10,671 | | | | | | 3,557 | | | | | | — | | | | | | 61.72 | | | | | | 3/27/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/26/2019 | | | | | | 7,669 | | | | | | 7,668 | | | | | | — | | | | | | 73.61 | | | | | | 3/26/2029 | | | | | | 3,623(6) | | | | | | 193,613 | | | | | | 5,912(6) | | | | | | 315,937 | | | ||
| | | 3/31/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,177 | | | | | | 330,099 | | | | | | 16,472(7) | | | | | | 880,264 | | | ||
| | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,463 | | | | | | 398,823 | | | | | | 14,925(8) | | | | | | 797,592 | | | ||
Tyson Murdock
|
| | | | 3/27/2018 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,025 | | | | | | 108,216 | | | | | | — | | | | | | — | | |
| | | 3/26/2019 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,396 | | | | | | 181,482 | | | | | | — | | | | | | — | | | ||
| | | 3/31/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,377 | | | | | | 554,547 | | | | | | — | | | | | | — | | | ||
| | | 6/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,161(7) | | | | | | 489,564 | | | ||
| | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,706 | | | | | | 465,249 | | | | | | 17,413(8) | | | | | | 930,551 | | | ||
Darcy Mott
|
| | | | 3/26/2015 | | | | | | 25,000 | | | | | | — | | | | | | — | | | | | | 25.39 | | | | | | 3/26/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 3/27/2017 | | | | | | 19,897 | | | | | | — | | | | | | — | | | | | | 41.28 | | | | | | 3/27/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/27/2018 | | | | | | 10,671 | | | | | | 3,557 | | | | | | — | | | | | | 61.72 | | | | | | 3/27/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/26/2019 | | | | | | 11,503 | | | | | | 3,834 | | | | | | — | | | | | | 73.61 | | | | | | 3/27/2028 | | | | | | 3,623(6) | | | | | | 193,613 | | | | | | 5,914(6) | | | | | | 316,044 | | | ||
| | | 3/31/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,177 | | | | | | 330,099 | | | | | | 16,472(7) | | | | | | 880,264 | | | ||
Edward Bloomberg
|
| | | | 8/13/2018 | | | | | | 19,251 | | | | | | 6,416 | | | | | | — | | | | | | 82.39 | | | | | | 8/13/2028 | | | | | | 2,655(1) | | | | | | 141,883 | | | | | | — | | | | | | — | | |
| | | 3/26/2019 | | | | | | 11,184 | | | | | | 11,183 | | | | | | — | | | | | | 73.61 | | | | | | 3/26/2029 | | | | | | 5,283(6) | | | | | | 282,324 | | | | | | 8,623(6) | | | | | | 460,813 | | | ||
| | | 3/31/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,883 | | | | | | 528,148 | | | | | | 26,356(7) | | | | | | 1,408,465 | | | ||
| | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 13,682 | | | | | | 731,166 | | | | | | 27,363(8) | | | | | | 1,462,279 | | | ||
Larry Trittschuh
|
| | | | 12/17/2018 | | | | | | 19,259 | | | | | | 6,419 | | | | | | — | | | | | | 59.63 | | | | | | 12/17/2028 | | | | | | 2,620 | | | | | | 140,013 | | | | | | — | | | | | | — | | |
| | | 3/26/2019 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 566 | | | | | | 30,247 | | | | | | — | | | | | | — | | | ||
| | | 3/26/2019 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 755(6) | | | | | | 40,347 | | | | | | 1,232(6) | | | | | | 65,838 | | | ||
| | | 3/31/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,729 | | | | | | 92,398 | | | | | | 4,612(7) | | | | | | 246,465 | | | ||
| | | 4/5/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,738 | | | | | | 146,319 | | | | | | 7,301(7) | | | | | | 390,165 | | | ||
| | | 3/30/2021 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,965 | | | | | | 372,210 | | | | | | 13,930(8) | | | | | | 744,419 | | |
|
Cumulative 3-Year Revenue Compound
Annual Growth Rate During Performance Period |
| |
Shares Subject to the
Award That Become Vested |
| |||
|
≤15%
|
| | | | 0% | | |
|
15%
|
| | | | 50% | | |
|
20%
|
| | | | 100% | | |
|
25%
|
| | | | 200% | | |
Net Cash Provided by Operating Activities
($ in millions) |
| |
Shares Subject to the
Award That Become Vested |
| |||||||||
Fiscal Year 2021
|
| |
Fiscal Year 2022
|
| |||||||||
100
|
| | | | 150 | | | | | | 50% | | |
150
|
| | | | 200 | | | | | | 100% | | |
200
|
| | | | 250 | | | | | | 200% | | |
Relative Total Stockholder Return
|
| |
Shares Subject to the
Award That Become Vested |
| |||
<10th percentile
|
| | | | 0% | | |
10th percentile
|
| | | | 25% | | |
50th percentile
|
| | | | 100% | | |
≥90th percentile
|
| | | | 200% | | |
Relative Total Stockholder Return
|
| |
Shares Subject to the
Award That Become Vested |
| |||
<10th percentile
|
| | | | 0% | | |
10th percentile
|
| | | | 25% | | |
50th percentile
|
| | | | 100% | | |
≥90th percentile
|
| | | | 200% | | |
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||
Name
|
| |
Number of
Shares Acquired on Exercise (#) |
| |
Value
Realized on Exercise ($)(1) |
| |
Number of
Shares Acquired on Vesting (#) |
| |
Value
Realized on Vesting ($)(2) |
| ||||||||||||
Jon Kessler
|
| | | | 100,000 | | | | | | 2,971,000 | | | | | | 48,389 | | | | | | 3,251,741 | | |
Stephen Neeleman, M.D.
|
| | | | — | | | | | | — | | | | | | 16,445 | | | | | | 1,104,692 | | |
Tyson Murdock
|
| | | | — | | | | | | — | | | | | | 7,183 | | | | | | 492,141 | | |
Darcy Mott
|
| | | | 100,000 | | | | | | 5,625,846 | | | | | | 16,445 | | | | | | 1,104,692 | | |
Edward Bloomberg
|
| | | | — | | | | | | — | | | | | | 5,950 | | | | | | 404,677 | | |
Larry Trittschuh
|
| | | | — | | | | | | — | | | | | | 4,393 | | | | | | 224,575 | | |
Name
|
| |
Cash
Severance Payment ($)(1) |
| |
Bonus
Payment ($)(2) |
| |
COBRA
Premium Reimbursement ($)(3) |
| |
Value of
Accelerated Equity Awards ($)(4) |
| ||||||||||||
Jon Kessler | | | | | | | | | | | | | | | | | | | | | | | | | |
Voluntary termination for good reason or involuntary termination without cause
|
| | | | 700,000 | | | | | | 525,000 | | | | | | 27,643 | | | | | | — | | |
Termination for disability or upon death
|
| | | | — | | | | | | 525,000 | | | | | | — | | | | | | — | | |
Voluntary termination for good reason or
involuntary termination without cause following a change in control |
| | | | 1,050,000 | | | | | | 525,000 | | | | | | 41,465 | | | | | | 12,930,289 | | |
Stephen Neeleman, M.D. | | | | | | | | | | | | | | | | | | | | | | | | | |
Voluntary termination for good reason or involuntary termination without cause
|
| | | | 400,000 | | | | | | 225,000 | | | | | | 23,968 | | | | | | — | | |
Termination for disability or upon death
|
| | | | — | | | | | | 225,000 | | | | | | — | | | | | | — | | |
Voluntary termination for good reason or
involuntary termination without cause following a change in control |
| | | | 400,000 | | | | | | 225,000 | | | | | | 23,968 | | | | | | 2,987,563 | | |
Tyson Murdock | | | | | | | | | | | | | | | | | | | | | | | | | |
Voluntary termination for good reason or involuntary termination without cause
|
| | | | 350,000 | | | | | | 196,875 | | | | | | 25,159 | | | | | | — | | |
Termination for disability or upon death
|
| | | | — | | | | | | 196,875 | | | | | | — | | | | | | — | | |
Voluntary termination for good reason or
involuntary termination without cause following a change in control |
| | | | 350,000 | | | | | | 196,875 | | | | | | 25,159 | | | | | | 2,729,608 | | |
Darcy Mott | | | | | | | | | | | | | | | | | | | | | | | | | |
Involuntary termination without cause
|
| | | | — | | | | | | 50,000 | | | | | | — | | | | | | — | | |
Termination for disability or upon death
|
| | | | — | | | | | | 50,000 | | | | | | — | | | | | | — | | |
Change in control following an involuntary termination without cause
|
| | | | — | | | | | | 50,000 | | | | | | — | | | | | | 330,099 | | |
Edward Bloomberg | | | | | | | | | | | | | | | | | | | | | | | | | |
Voluntary termination for good reason or involuntary termination without cause
|
| | | | 475,000 | | | | | | 260,368 | | | | | | 27,643 | | | | | | — | | |
Termination for disability or upon death
|
| | | | — | | | | | | 260,368 | | | | | | — | | | | | | — | | |
Voluntary termination for good reason or
involuntary termination without cause following a change in control |
| | | | 475,000 | | | | | | 260,368 | | | | | | 27,643 | | | | | | 5,118,911 | | |
Name
|
| |
Cash
Severance Payment ($)(1) |
| |
Bonus
Payment ($)(2) |
| |
COBRA
Premium Reimbursement ($)(3) |
| |
Value of
Accelerated Equity Awards ($)(4) |
| ||||||||||||
Larry Trittschuh | | | | | | | | | | | | | | | | | | | | | | | | | |
Voluntary termination for good reason or involuntary termination without cause
|
| | | | 450,000 | | | | | | 165,719 | | | | | | 28,283 | | | | | | — | | |
Termination for disability or upon death
|
| | | | — | | | | | | 165,719 | | | | | | — | | | | | | — | | |
Voluntary termination for good reason or
involuntary termination without cause following a change in control |
| | | | 450,000 | | | | | | 165,719 | | | | | | 28,283 | | | | | | 2,283,224 | | |
| | |
2023
|
| |
2022
|
| ||||||
Annual Cash Retainer
|
| | | $ | 50,000 | | | | | $ | 50,000 | | |
Additional Annual Cash Retainer for Board Committee Chairpersons: | | | | | | | | | | | | | |
Audit and Risk Committee
|
| | | $ | 40,000 | | | | | $ | 40,000 | | |
Talent, Compensation and Culture Committee
|
| | | $ | 20,000 | | | | | $ | 20,000 | | |
Nominating, Governance and Corporate Sustainability Committee
|
| | | $ | 10,000 | | | | | $ | 10,000 | | |
Cybersecurity and Technology Committee
|
| | | $ | 20,000 | | | | | $ | 15,000 | | |
Additional Annual Cash Retainer for Board Committee Members: | | | | | | | | | | | | | |
Audit and Risk Committee
|
| | | $ | 15,000 | | | | | $ | 15,000 | | |
Talent, Compensation and Culture Committee
|
| | | $ | 7,500 | | | | | $ | 7,500 | | |
Nominating, Governance and Corporate Sustainability Committee
|
| | | $ | 5,000 | | | | | $ | 5,000 | | |
Cybersecurity and Technology Committee
|
| | | $ | 7,500 | | | | | $ | 7,500 | | |
Additional Chairperson Retainer Fee
|
| | | $ | 100,000 | | | | | $ | 100,000 | | |
Name
|
| |
Ownership Guideline
(Multiple of Annual Cash Retainer) |
| |
Compliance Date
|
| |
Compliance Status
|
|
Robert Selander | | |
5x
|
| |
July 31, 2021
|
| |
In compliance
|
|
Frank Corvino | | |
5x
|
| |
July 31, 2021
|
| |
In compliance
|
|
Adrian Dillon | | |
5x
|
| |
September 1, 2021
|
| |
In compliance
|
|
Evelyn Dilsaver | | |
5x
|
| |
July 31, 2021
|
| |
In compliance
|
|
Debra McCowan | | |
5x
|
| |
April 1, 2023
|
| |
N/A
|
|
Rajesh Natarajan | | |
5x
|
| |
May 2, 2027
|
| |
N/A
|
|
Stuart Parker | | |
5x
|
| |
December 4, 2025
|
| |
N/A
|
|
Ian Sacks | | |
5x
|
| |
July 31, 2021
|
| |
In compliance
|
|
Gayle Wellborn | | |
5x
|
| |
August 1, 2022
|
| |
N/A
|
|
Name
|
| |
Fees Earned or
Paid in Cash ($)(1) |
| |
Stock Awards
($)(2)(3) |
| |
All Other
Compensation ($) |
| |
Total
($) |
| ||||||||||||
Robert Selander
|
| | | | 156,875 | | | | | | 190,000 | | | | | | — | | | | | | 346,875 | | |
Frank Corvino
|
| | | | 72,500 | | | | | | 190,000 | | | | | | — | | | | | | 262,500 | | |
Adrian Dillon
|
| | | | 2,500 | | | | | | 277,500 | | | | | | — | | | | | | 280,000 | | |
Evelyn Dilsaver
|
| | | | 110,000 | | | | | | 190,000 | | | | | | — | | | | | | 300,000 | | |
Name
|
| |
Fees Earned or
Paid in Cash ($)(1) |
| |
Stock Awards
($)(2)(3) |
| |
All Other
Compensation ($) |
| |
Total
($) |
| ||||||||||||
Debra McCowan
|
| | | | 1,250 | | | | | | 260,000 | | | | | | — | | | | | | 261,250 | | |
Stuart Parker
|
| | | | — | | | | | | 255,000 | | | | | | — | | | | | | 255,000 | | |
Ian Sacks
|
| | | | — | | | | | | 272,500 | | | | | | — | | | | | | 272,500 | | |
Gayle Wellborn
|
| | | | 74,375 | | | | | | 190,000 | | | | | | — | | | | | | 264,375 | | |
Name
|
| |
Aggregate Option
Awards Outstanding as of January 31, 2022 (#) |
| |
Aggregate Unvested
Restricted Stock Units Outstanding as of January 31, 2022 (#) |
| ||||||
Robert Selander
|
| | | | 65,000 | | | | | | — | | |
Frank Corvino
|
| | | | 10,090 | | | | | | — | | |
Adrian Dillon
|
| | | | 24,446 | | | | | | — | | |
Evelyn Dilsaver
|
| | | | 55,851 | | | | | | — | | |
Debra McCowan
|
| | | | — | | | | | | — | | |
Stuart Parker
|
| | | | — | | | | | | 1,558 | | |
Ian Sacks
|
| | | | 53,024 | | | | | | — | | |
Gayle Wellborn
|
| | | | 12,075 | | | | | | — | | |
Plan Category
|
| |
Number of Securities to
be Issued Upon Exercise of Outstanding Options, Restricted Stock Units, Warrants and Rights (a)(1) |
| |
Weighted Average
Exercise Price of Outstanding Options, Warrants and Rights (b)(2) |
| |
Number of Securities
Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a)) (c)(1) |
| |||||||||
Equity compensation plans approved by stockholders(3)
|
| | | | 3,928,321 | | | | | | 35.64 | | | | | | 7,390,087(4) | | |
Equity compensation plans not approved by stockholders(5)
|
| | | | — | | | | | | — | | | | | | — | | |
Name of Beneficial Owner
|
| |
Number(1)
|
| |
Percentage
|
| ||||||
5% Stockholders: | | | | | | | | | | | | | |
BlackRock, Inc.(2)
|
| | | | 9,064,265 | | | | | | 10.7% | | |
The Vanguard Group(3)
|
| | | | 8,023,824 | | | | | | 9.5% | | |
Wasatch Advisors, Inc.(4)
|
| | | | 7,395,256 | | | | | | 8.8% | | |
Directors and Named Executive Officers: | | | | | | | | | | | | | |
Stephen Neeleman, M.D.(5)
|
| | | | 993,264 | | | | | | 1.2% | | |
Jon Kessler(6)
|
| | | | 560,189 | | | | | | * | | |
Ian Sacks(7)
|
| | | | 201,062 | | | | | | * | | |
Darcy Mott(8)
|
| | | | 165,562 | | | | | | * | | |
Robert Selander(9)
|
| | | | 104,266 | | | | | | * | | |
Evelyn Dilsaver(10)
|
| | | | 81,814 | | | | | | * | | |
Adrian Dillon(11)
|
| | | | 70,894 | | | | | | * | | |
Edward Bloomberg(12)
|
| | | | 56,568 | | | | | | * | | |
Stuart Parker(13)
|
| | | | 31,034 | | | | | | * | | |
Gayle Wellborn(14)
|
| | | | 26,339 | | | | | | * | | |
Larry Trittschuh(15)
|
| | | | 15,373 | | | | | | * | | |
Tyson Murdock(16)
|
| | | | 13,722 | | | | | | * | | |
Frank Corvino(17)
|
| | | | 12,678 | | | | | | * | | |
Debra McCowan(18)
|
| | | | 7,602 | | | | | | * | | |
Rajesh Natarajan
|
| | | | — | | | | | | * | | |
All directors and executive officers as a group (17 persons)(19)
|
| | | | 2,366,396 | | | | | | 2.8% | | |
| | |
Year ended January 31,
|
| |||||||||
(in thousands)
|
| |
2022
|
| |
2021
|
| ||||||
Net income (loss)
|
| | | $ | (44,289) | | | | | $ | 8,834 | | |
Interest income
|
| | | | (1,501) | | | | | | (1,045) | | |
Interest expense
|
| | | | 36,572 | | | | | | 34,881 | | |
Income tax benefit
|
| | | | (22,452) | | | | | | (4,694) | | |
Depreciation and amortization
|
| | | | 54,397 | | | | | | 39,839 | | |
Amortization of acquired intangible assets
|
| | | | 82,791 | | | | | | 76,064 | | |
Stock-based compensation expense
|
| | | | 52,750 | | | | | | 42,863 | | |
Merger integration expenses
|
| | | | 64,805 | | | | | | 45,990 | | |
Acquisition costs(1)
|
| | | | 10,832 | | | | | | 1,118 | | |
Gain on equity securities
|
| | | | (1,692) | | | | | | — | | |
Other(2)
|
| | | | 3,802 | | | | | | (3,055) | | |
Adjusted EBITDA
|
| | | $ | 236,015 | | | | | $ | 240,795 | | |