Pay vs Performance Disclosure - USD ($)
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12 Months Ended |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
Pay vs Performance Disclosure |
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Pay vs Performance Disclosure, Table |
In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for our principal executive officer (“PEO”) and Non-PEO named executive officers (“Non-PEO NEOs”) and Company performance for the fiscal years listed below.
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Summary Compensation Table Total for Prahlad R. Singh¹ |
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Compensation Actually Paid to Prahlad R. Singh 1,2,3 |
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Average Summary Compensation Table Total for Non-PEO NEOs 1 |
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Average Compensation Actually Paid to Non-PEO NEOs 1,2,3 ($) |
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Value of Initial Fixed $100 Investment Based On: 4 |
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Adjusted Revenue 5 ($ Millions) |
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1. |
Prahlad R. Singh was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented are listed below. |
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James M. Mock |
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James M. Mock |
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James M. Mock |
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Maxwell Krakowiak |
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Maxwell Krakowiak |
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Joel S. Goldberg |
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Joel S. Goldberg |
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Joel S. Goldberg |
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Joel S. Goldberg |
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Joel S. Goldberg |
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Daniel R. Tereau |
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Daniel R. Tereau |
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Daniel R. Tereau |
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Tajinder S. Vohra |
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Miriame Victor |
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Tajinder S. Vohra |
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Tajinder S. Vohra |
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Tajinder S. Vohra |
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Miriame Victor |
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Tajinder S. Vohra |
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Maxwell Krakowiak |
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2. |
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below. |
3. |
Compensation Actually Paid for 2024 reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table. |
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Summary Compensation Table Total for Prahlad R. Singh |
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Exclusion of Stock Awards and Option Awards for Prahlad R. Singh |
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Inclusion of Equity Values for Prahlad R. Singh |
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Compensation Actually Paid to Prahlad R. Singh |
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2024 |
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11,926,615 |
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(8,241,336 |
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7,777,718 |
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11,462,997 |
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Average Summary Compensation Table Total for Non-PEO NEOs |
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Average Exclusion of Stock Awards and Option Awards for Non-PEO NEOs ($) |
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Average Inclusion of Equity Values for Non-PEO NEOs ($) |
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Average Compensation Actually Paid to Non-PEO NEOs ($) |
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2024 |
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2,853,563 |
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(1,729,106 |
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1,749,835 |
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2,874,292 |
| The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
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Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Prahlad R. Singh |
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Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Prahlad R. Singh |
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Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Prahlad R. Singh |
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Equity Values for Prahlad R. Singh |
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2024 |
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9,053,133 |
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(988,919 |
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(286,496 |
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7,777,718 |
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Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEOs |
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Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs |
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Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs ($) |
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Total - Average Inclusion of Equity Values for Non-PEO NEOs ($) |
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2024 |
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1,899,427 |
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(109,032 |
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(40,560 |
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1,749,835 |
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4. |
The Peer Group TSR set forth in this table utilizes the S&P 500 Life Sciences Tools & Services Industry Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the fiscal year ended December 29, 2024. The comparison assumes $100 was invested for the period starting December 29, 2019, through the end of the listed year in the Company and in the S&P 500 Life Sciences Tools & Services Industry Index, respectively. Historical stock performance is not necessarily indicative of future stock performance. |
5. |
We determined Adjusted Revenue to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in 2024. More information on Adjusted Revenue can be found in the “Determining Executive Pay” section of the Compensation Discussion and Analysis. |
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Company Selected Measure Name |
Adjusted Revenue
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Named Executive Officers, Footnote |
1. |
Prahlad R. Singh was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented are listed below. |
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James M. Mock |
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James M. Mock |
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James M. Mock |
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Maxwell Krakowiak |
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Maxwell Krakowiak |
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Joel S. Goldberg |
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Joel S. Goldberg |
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Joel S. Goldberg |
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Joel S. Goldberg |
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Joel S. Goldberg |
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Daniel R. Tereau |
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Daniel R. Tereau |
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Daniel R. Tereau |
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Tajinder S. Vohra |
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Miriame Victor |
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Tajinder S. Vohra |
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Tajinder S. Vohra |
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Tajinder S. Vohra |
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Miriame Victor |
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Tajinder S. Vohra |
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Maxwell Krakowiak |
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Peer Group Issuers, Footnote |
The Peer Group TSR set forth in this table utilizes the S&P 500 Life Sciences Tools & Services Industry Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the fiscal year ended December 29, 2024. The comparison assumes $100 was invested for the period starting December 29, 2019, through the end of the listed year in the Company and in the S&P 500 Life Sciences Tools & Services Industry Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
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PEO Total Compensation Amount |
$ 11,926,615
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$ 9,130,624
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$ 10,576,998
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$ 9,661,006
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$ 9,017,969
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PEO Actually Paid Compensation Amount |
$ 11,462,997
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3,649,837
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1,806,595
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22,364,293
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17,608,514
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Adjustment To PEO Compensation, Footnote |
3. |
Compensation Actually Paid for 2024 reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table. |
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Summary Compensation Table Total for Prahlad R. Singh |
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Exclusion of Stock Awards and Option Awards for Prahlad R. Singh |
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Inclusion of Equity Values for Prahlad R. Singh |
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Compensation Actually Paid to Prahlad R. Singh |
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2024 |
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11,926,615 |
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(8,241,336 |
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7,777,718 |
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11,462,997 |
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Average Summary Compensation Table Total for Non-PEO NEOs |
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Average Exclusion of Stock Awards and Option Awards for Non-PEO NEOs ($) |
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Average Inclusion of Equity Values for Non-PEO NEOs ($) |
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Average Compensation Actually Paid to Non-PEO NEOs ($) |
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2024 |
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2,853,563 |
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(1,729,106 |
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1,749,835 |
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2,874,292 |
| The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
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Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Prahlad R. Singh |
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Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Prahlad R. Singh |
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Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Prahlad R. Singh |
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Equity Values for Prahlad R. Singh |
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2024 |
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9,053,133 |
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(988,919 |
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(286,496 |
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7,777,718 |
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Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEOs |
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Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs |
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Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs ($) |
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Total - Average Inclusion of Equity Values for Non-PEO NEOs ($) |
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2024 |
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1,899,427 |
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(109,032 |
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(40,560 |
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1,749,835 |
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Non-PEO NEO Average Total Compensation Amount |
$ 2,853,563
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2,216,350
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2,074,392
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2,401,828
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2,945,673
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Non-PEO NEO Average Compensation Actually Paid Amount |
$ 2,874,292
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1,319,296
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(698,239)
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5,469,748
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5,888,871
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Adjustment to Non-PEO NEO Compensation Footnote |
3. |
Compensation Actually Paid for 2024 reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table. |
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Summary Compensation Table Total for Prahlad R. Singh |
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Exclusion of Stock Awards and Option Awards for Prahlad R. Singh |
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Inclusion of Equity Values for Prahlad R. Singh |
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Compensation Actually Paid to Prahlad R. Singh |
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2024 |
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11,926,615 |
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(8,241,336 |
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7,777,718 |
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11,462,997 |
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Average Summary Compensation Table Total for Non-PEO NEOs |
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Average Exclusion of Stock Awards and Option Awards for Non-PEO NEOs ($) |
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Average Inclusion of Equity Values for Non-PEO NEOs ($) |
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Average Compensation Actually Paid to Non-PEO NEOs ($) |
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2024 |
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2,853,563 |
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(1,729,106 |
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1,749,835 |
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2,874,292 |
| The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
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Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Prahlad R. Singh |
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Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Prahlad R. Singh |
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Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Prahlad R. Singh |
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Equity Values for Prahlad R. Singh |
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2024 |
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9,053,133 |
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(988,919 |
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(286,496 |
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7,777,718 |
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Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEOs |
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Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs |
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Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs ($) |
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Total - Average Inclusion of Equity Values for Non-PEO NEOs ($) |
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2024 |
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1,899,427 |
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(109,032 |
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(40,560 |
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1,749,835 |
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Compensation Actually Paid vs. Total Shareholder Return |
Description of Relationship Between PEO and Non-PEO NEO Co mpe nsation Actually Paid and Company Total Shareholder Return (“TSR”) and Peer Group TSR The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, the Company’s cumulative TSR over the five mo s t recently completed fiscal years and the TSR of the S&P 500 Life Sciences Tools & Services Industry Index over the same period.
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Compensation Actually Paid vs. Net Income |
Description of Relationship Between PEO and Non-PEO NEO Compensation Actually Paid and Net Income The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and our Net Income during the five most recently completed fiscal years.
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Compensation Actually Paid vs. Company Selected Measure |
Description of Relationship Between PEO and Other NEO Compensation Actually Paid and Adj u sted Revenue The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other Non-PEO NEOs, and our Adjusted Revenue during the five most recently completed fiscal years.
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Total Shareholder Return Vs Peer Group |
Description of Relationship Between PEO and Non-PEO NEO Co mpe nsation Actually Paid and Company Total Shareholder Return (“TSR”) and Peer Group TSR The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, the Company’s cumulative TSR over the five mo s t recently completed fiscal years and the TSR of the S&P 500 Life Sciences Tools & Services Industry Index over the same period.
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Tabular List, Table |
Tabular List of Most Important Financial Performance Measures The following table presents the financial performance measures that the Company considers to have been the most important in linking Compensation Actually Paid to our PEO and other Non-PEO NEOs for 2024 to Company performance. The measures in this table are not ranked.
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Adjusted Revenue |
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Adjusted EPS |
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Organic Growth |
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Free Cash Flow Conversion |
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Total Shareholder Return Amount |
$ 116.71
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113.62
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145.42
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208.13
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148.27
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Peer Group Total Shareholder Return Amount |
132.45
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136.29
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141.02
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183.38
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132.4
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Net Income (Loss) |
$ 270,000,000
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$ 693,000,000
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$ 569,000,000
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$ 943,000,000
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$ 728,000,000
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Company Selected Measure Amount |
2,756,000,000
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2,751,000,000
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3,313,000,000
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3,830,000,000
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2,664,000,000
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PEO Name |
Prahlad R. Singh
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Measure:: 1 |
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Pay vs Performance Disclosure |
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Name |
Adjusted Revenue
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Non-GAAP Measure Description |
We determined Adjusted Revenue to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in 2024. More information on Adjusted Revenue can be found in the “Determining Executive Pay” section of the Compensation Discussion and Analysis.
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Measure:: 2 |
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Pay vs Performance Disclosure |
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Name |
Adjusted EPS
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Measure:: 3 |
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Pay vs Performance Disclosure |
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Name |
Organic Growth
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Measure:: 4 |
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Pay vs Performance Disclosure |
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Name |
Free Cash Flow Conversion
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PEO | Equity Awards Adjustments |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
$ 7,777,718
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PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
9,053,133
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PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(988,919)
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PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(286,496)
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PEO | Exclusion of Stock Awards and Option Awards [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(8,241,336)
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Non-PEO NEO | Equity Awards Adjustments |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
1,749,835
|
|
|
|
|
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
1,899,427
|
|
|
|
|
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
(109,032)
|
|
|
|
|
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
(40,560)
|
|
|
|
|
Non-PEO NEO | Exclusion of Stock Awards and Option Awards [Member] |
|
|
|
|
|
Pay vs Performance Disclosure |
|
|
|
|
|
Adjustment to Compensation, Amount |
$ (1,729,106)
|
|
|
|
|