The Peer Group companies are: Allison Transmission, Altra Industrial Motion, CalAmp, CIRCOR, Columbus McKinnon, Commercial Vehicle Group, Cooper-Standard Holdings, CTS, Curtiss-Wright, Donaldson, Dorman Products, Franklin Electric, Gentex, Gentherm, LCI Industries, Littelfuse, Lydall, Martinrea International, Meritor, Methode Electronics, Modine Manufacturing, Rogers, Standard Motor Products, Strattec Security, Superior Industries, Visteon, and Wabash National. The Peer Group shall be subject to modification at the discretion of the Committee from time to time, when events warrant. The performance of the Peer Group companies shall not be weighted based on the size of the respective company.
Relative TSR compares the results of investing in Stoneridge Common Shares versus the stock of other companies in the Peer Group considering both the appreciation and depreciation in share price, plus the reinvestment of dividends distributed during the three-year performance period. Share price is calculated at the beginning and end of the Performance Period using the average closing price for the final 20 business days during the month of December (the December immediately prior to the grant date and the December immediately prior to the vest date).
Award III Performance Shares - EPS
Performance on the Earnings Per Share (“EPS”) performance share metric shall be the actual average EPS relative to the budgeted average EPS for the Company’s fiscal years 2022, 2023 and 2024 (the “EPS Performance Period”). Depending on the Company’s performance on the EPS performance share metric, the following shares may be earned:
Results as a % of Target
% Shares Earned
Actual Shares Earned
The 2022 budgeted EPS is ($0.03). The 2023 and 2024 budgeted EPS will be communicated via Addendum to this Agreement and incorporated herein by reference, effective upon their respective adoption by the Committee. The average of the budgeted EPS for fiscal years 2022, 2023 and 2024 will constitute the Target EPS for purposes of the 2022 EPS performance share metric.
If the result on the EPS performance share metric is between two data points per the above table, the number of shares earned shall be determined by interpolation between those data points.
The Company’s EPS for any fiscal year in the EPS Performance Period shall mean the Company’s aggregate fully diluted earnings per Common Share for that fiscal year calculated in accordance with generally accepted accounting principles, before extraordinary items, cumulative effects of changes in accounting principles, adjustments for goodwill impairments and the tax effect thereof, if any, as set forth on the audited consolidated financial statements of the Company for that fiscal year; provided, however, the impact of any acquisitions or divestitures that may occur during any fiscal year in the Performance Period be excluded from actual EPS and, at the Committee discretion, actual EPS may be adjusted to account for any significant, unusual or one-time expense or gain items that the Company could not have reasonably been expected to foresee.
Award IV Performance Shares - ROIC