Velarion · Company Intelligence
Compensation Brief
Fiscal year 2022 · Filings through 2023-03-30

SP Plus Corp (SP)

CEO G Baumann was paid $4,234,415 in fiscal year 2022, ↓ down 14.4% from fiscal year 2021 (SEC filing 0000950170-23-011010 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$4,234,415 ↓
G Baumann total, FY2022
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CEO pay percentile vs peers
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CEO-to-median pay ratio
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01

Summary Compensation Table — fiscal year 2022

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
G Baumann$800,031$0$2,400,028$0$1,008,000$0$26,356$4,234,415
Chief Executive Officer; President (PEO)
Robert Toy550,0210550,0260340,200016,1701,456,417
Executive Advisor, Commercial Division
Kristopher Roy472,9350600,0150346,500012,3851,431,835
Chief Financial Officer (PFO)
John Ricchiuto440,0170300,0230287,280010,2891,037,609
Executive Advisor, Airport Division
Robert Miles368,0140200,0150224,280014,082806,391
President, Bags

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2022 totalFY2021 totalFY2020 totalΔ FY2021→2022
G Baumann$4,234,415$4,947,004$1,842,491↓ −712,589
Robert Toy1,456,4171,653,159830,199↓ −196,742
Kristopher Roy1,431,8351,360,231484,119↑ +71,604
John Ricchiuto1,037,6091,222,112623,877↓ −184,503
Robert Miles806,391941,866546,199↓ −135,475

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against SP

Each company listed discloses SP in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2022

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Kristopher RoyRSU2022-03-03——9,741—$300,023
Robert ToyRSU2022-03-03——8,929—275,013
John RicchiutoPSU2022-03-033,8964,870—9,740149,996
John RicchiutoRSU2022-03-03——4,871—150,027
Kristopher RoyPSU2022-03-037,7929,740—19,480299,992
G BaumannPSU—31,16938,961—77,9221,199,999
Robert ToyPSU2022-03-037,1438,929—17,858275,013
G BaumannRSU2022-03-03——38,962—1,200,030
Robert MilesPSU2022-03-032,5983,247—6,494100,008
Robert MilesRSU2022-03-03——3,247—100,008
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Kristopher Roy$300,023$299,992$050.0%
Robert Toy275,013275,013050.0%
John Ricchiuto150,027149,996050.0%
G Baumann1,200,0301,199,999050.0%
Robert Miles100,008100,008050.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2022

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Kristopher RoyPSU10,712—$371,921
Robert ToyPSU10,712—371,921
Kristopher RoyPSU9,741—338,208
Kristopher RoyPSU9,740—338,173
Robert ToyPSU8,929—310,015
Robert ToyPSU6,980—242,346
John RicchiutoPSU6,427—223,145
Robert MilesPSU5,842—202,834
John RicchiutoPSU5,584—193,876
John RicchiutoPSU4,871—169,121
Robert MilesPSU4,714—163,670
Robert MilesPSU4,285—148,775
Kristopher RoyPSU4,116—142,908
Kristopher RoyPSU3,570—123,950
Robert ToyPSU3,570—123,950
Robert MilesPSU3,247—112,736
John RicchiutoPSU2,142—74,370
Robert MilesPSU1,428—49,580
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation program is designed to reward employees for producing sustainable growth for our stockholders and to attract, motivate and retain top talent in the industry. We use a combination of fixed and variable, “at-risk” compensation programs to help align the interests of our executives with our stockholders, based on a “pay-for-performance” philosophy.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantWillis Towers Watson
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
08

Director compensation — fiscal year 2022

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Douglas R. WaggonerIndependent · Lead Independent Director$117,500$85,000$0$0$0$202,500
Alice M. PetersonIndependent95,00085,000000180,000
Wyman T. RobertsIndependent82,50085,000000167,500
Gregory A. ReidIndependent77,50085,000000162,500
Diana L. SandsIndependent76,80585,000000161,805
G Marc BaumannEmployee director · Board Chair—————0
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$100,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline—
09b

Total cost of the board

ComponentFY2022
Cash retainers and fees$449,305
Equity awards (grant-date value)$425,000
All other compensation$0
Total cost of the board$874,305

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1SP Plus Corp2022G Baumann$800,031$2,400,028$0$1,008,000$4,234,415

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10d

Frequently asked questions

Who was the highest-paid executive at SP Plus Corp in fiscal 2022?
As disclosed, G Baumann (Chief Executive Officer; President (PEO)) was the highest-paid executive at SP Plus Corp in fiscal 2022, with total compensation of $4,234,415.
How much does SP Plus Corp spend in total on board compensation for fiscal 2022?
As disclosed, SP Plus Corp reported total board compensation of $874,305 for fiscal 2022.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, G BaumannDEF 14A2023-03-300000950170-23-011010Section “Summary Compensation Table” · page 33. As printed: 4,234,415. Filing ↗machine: r4 · c25 · span 1406494–1406503
2Section 01, Robert ToyDEF 14A2023-03-300000950170-23-011010Section “Summary Compensation Table” · page 33. As printed: 1,456,417. Filing ↗machine: r20 · c25 · span 1567319–1567328
3Section 01, Kristopher RoyDEF 14A2023-03-300000950170-23-011010Section “Summary Compensation Table” · page 33. As printed: 1,431,835. Filing ↗machine: r8 · c25 · span 1447563–1447572
4Section 01, John RicchiutoDEF 14A2023-03-300000950170-23-011010Section “Summary Compensation Table” · page 33. As printed: 1,037,609. Filing ↗machine: r16 · c25 · span 1527929–1527938
5Section 01, Robert MilesDEF 14A2023-03-300000950170-23-011010Section “Summary Compensation Table” · page 33. As printed: 806,391. Filing ↗machine: r12 · c25 · span 1487432–1487439
6Section 03, Kristopher Roy RSUDEF 14A2023-03-300000950170-23-011010Section “Grants of Plan-Based Awards for 2022” · grants of plan-based awards table. Filing ↗machine: span 1695530–1695537
7Section 03, Robert Toy RSUDEF 14A2023-03-300000950170-23-011010Section “Grants of Plan-Based Awards for 2022” · grants of plan-based awards table. Filing ↗machine: span 1797161–1797168
8Section 03, John Ricchiuto PSUDEF 14A2023-03-300000950170-23-011010Section “Grants of Plan-Based Awards for 2022” · grants of plan-based awards table. Filing ↗machine: span 1774988–1774995
9Section 03, John Ricchiuto RSUDEF 14A2023-03-300000950170-23-011010Section “Grants of Plan-Based Awards for 2022” · grants of plan-based awards table. Filing ↗machine: span 1763260–1763267
10Section 03, Kristopher Roy PSUDEF 14A2023-03-300000950170-23-011010Section “Grants of Plan-Based Awards for 2022” · grants of plan-based awards table. Filing ↗machine: span 1707259–1707266
11Section 03, G Baumann PSUDEF 14A2023-03-300000950170-23-011010Section “Grants of Plan-Based Awards for 2022” · grants of plan-based awards table. Filing ↗machine: span 1673351–1673360
12Section 03, Robert Toy PSUDEF 14A2023-03-300000950170-23-011010Section “Grants of Plan-Based Awards for 2022” · grants of plan-based awards table. Filing ↗machine: span 1808850–1808857
13Section 03, G Baumann RSUDEF 14A2023-03-300000950170-23-011010Section “Grants of Plan-Based Awards for 2022” · grants of plan-based awards table. Filing ↗machine: span 1661618–1661627
14Section 03, Robert Miles PSUDEF 14A2023-03-300000950170-23-011010Section “Grants of Plan-Based Awards for 2022” · grants of plan-based awards table. Filing ↗machine: span 1741086–1741093
15Section 03, Robert Miles RSUDEF 14A2023-03-300000950170-23-011010Section “Grants of Plan-Based Awards for 2022” · grants of plan-based awards table. Filing ↗machine: span 1729434–1729441
16Section 08, Douglas R. WaggonerDEF 14A2023-03-300000950170-23-011010Section “Director Compensation”. As printed: 202,500. Filing ↗
17Section 08, Alice M. PetersonDEF 14A2023-03-300000950170-23-011010Section “Director Compensation”. As printed: 180,000. Filing ↗
18Section 08, Wyman T. RobertsDEF 14A2023-03-300000950170-23-011010Section “Director Compensation”. As printed: 167,500. Filing ↗
19Section 08, Gregory A. ReidDEF 14A2023-03-300000950170-23-011010Section “Director Compensation”. As printed: 162,500. Filing ↗
20Section 08, Diana L. SandsDEF 14A2023-03-300000950170-23-011010Section “Director Compensation”. As printed: 161,805. Filing ↗
21Section 08, G Marc BaumannDEF 14A2023-03-300000950170-23-011010Section “Director Compensation”. As printed: 0. Filing ↗
22Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
23Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
24Section 09b board cost (computed)Computed——Cash 449,305 + equity 425,000 + all other 0 = 874,305, summed across the director compensation table rows.machine: formula: Σ = 874,305
25SP Plus Corp (subject), Section 10b CEO totalDEF 14A2023-03-300000950170-23-011010CEO total compensation as printed in SP Plus Corp's own proxy. As printed: 4,234,415. Filing ↗machine: r4 · c25 · span 1406494–1406503

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