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ACETO CORP filed this Form DEF 14A on 10/20/2017
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The Compensation Committee evaluated the historical performance of our executive officers and considered the compensation levels and programs within the peer group before it made its fiscal 2017 compensation recommendations to the full board. As previously discussed, FW Cook completed an assessment during the fiscal year that reviewed the compensation program for certain executive officers, including our named executive officers, regarding base pay, performance awards and long-term incentive compensation. The report indicated that the pay mix for Aceto’s executive officers is weighted more toward long-term incentive compensation than the companies included in the peer group. The Compensation Committee recommended and the Board approved increases in base salaries of our executive officers averaging 3% for fiscal 2018.


Annual Performance Awards


We grant annual performance awards to encourage achievement of goals established for our short-term and long-term financial and operating results, and to reward our named executive officers for consistent performance in assisting us in achieving those goals. Pre-determined annual performance measures were utilized in connection with our performance awards for the fiscal year ended June 30, 2017.


For our fiscal year ended June 30, 2017, the annual performance award criteria for 85% of the awards payable under our Executive Award Plan established by our Compensation Committee, and approved by the Board, were based upon results obtained with respect to the following four financial factors: (1) company sales; (2) company gross profit; (3) company net income; and (4) company earnings per share. For the named executive officers, the financial factors were weighted at 15% for company sales, 10% for company gross profit, 30% for company net income, 30% for company earnings per share and the individual performance goals (which are qualitative in nature) were weighted at 15%. The specific performance-related financial factors at the minimum, target and maximum levels for the fiscal year ended June 30, 2017 were:


Performance Metric  Minimum   Target   Maximum   Actual Results 
Company Sales  $446,021,919   $630,377,646   $1,189,391,784   $638,318,000 
Company Gross Profit  $110,901,593   $147,868,790   $295,737,580   $140,792,000 
Company Net Income  $34,994,250   $46,659,000   $93,318,00   $37,857,000*
Company Earnings Per Share  $1.17   $1.56   $3.12   $1.16*

*Adjusted for certain charges including acquisition related costs and environmental remediation charge.


The annual award percentages at the minimum, target and maximum levels for the fiscal year ended June 30, 2017 for each of the named executive officers were as follows:


Executive Officer   Minimum   Target   Maximum
Salvatore Guccione   37.5% of base salary   75% of base salary   150% of base salary
Douglas Roth   25% of base salary   50% of base salary   100% of base salary
Walter Kaczmarek, III   30% of base salary   60% of base salary   120% of base salary
Albert L. Eilender   30% of base salary   60% of base salary   120% of base salary
Frank DeBenedittis   22.5% of base salary   45% of base salary   90% of base salary


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