Definitive proxy statements

Pay vs Performance Disclosure

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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table

Value of Initial Fixed $100

Average

Investment Based on:

Summary

Summary

Average

Peer Group

Compensation

Compensation

Compensation

Compensation

Total

Total

Table Total

Actually Paid

Table Total for

Actually Paid to

Shareholder

Shareholder

for PEO

to PEO

Non-PEO NEOs

Non-PEO NEOs

Return

Return

Net Income

Total Revenue

Year

($)(1)

($)(2)

($)(3)

($)(2)(3)

($)

($)(4)

($) (in thousands)

($)(5) (in thousands)

2023

 

716,115

234,297

1,416,646

452,290

7.78

167.06

(323,271)

189,698

2022

 

631,011

(5,045,468)

2,345,844

(294,720)

14.01

139.45

(740,343)

209,023

2021

 

11,034,910

7,376,568

 

4,197,184

(421,625)

 

51.02

179.61

 

(240,334)

 

112,408

2020

 

483,008

483,008

 

3,489,752

12,745,887

 

177.29

141.60

 

(34,015)

 

16,470

(1) The dollar amounts reported are the amounts of total compensation reported for our CEO, Mr. Ric Fulop, in the Summary Compensation Table for each of the fiscal years listed in the table. Mr. Fulop served as CEO for each of the years presented.
(2) The dollar amounts reported represent the amount of “compensation actually paid” as computed in accordance with SEC rules. See the table below for the adjustments made in determining these amounts.
(3) Reflects compensation information for our NEOs, other than our CEO, as described in the CD&A of this proxy statement. For 2023, reflects compensation information for Mr. Cole, Mr. Nogueira, and Mr. Myerberg. For 2022, reflects compensation information for Mr. Cole, Mr. Nogueira, Mr. Myerberg, Mr. Jafar, our former CEO of Desktop Health, Mr. Aggarwal, our former EVP of Corporate Development, and Mr. Haley, our former CFO. For 2021, reflects compensation information for Mr. Haley, Mr. Aggarwal, Mr. Jafar, Mr. Myerberg, Ms. Linardos, our former CFO, Mr. Mirman, our former Chief Marketing Officer, and Mr. El Siblani, our former CEO of EnvisionTEC. For 2020, reflects compensation information for Ms. Linardos and Mr. Billow, our former President.
(4) The dollar amounts represent the cumulative TSR (the “Peer Group TSR”) of the S&P Small Cap 600 Information Technology Index for the relevant fiscal year, which is the peer group used by Desktop Metal for purposes of Item 201(e) of Regulation S-K under the Exchange Act in Desktop Metal’s Annual Report on Form 10-K for the year ended December 31, 2023.
(5) Total revenue is a GAAP measure.
     
Company Selected Measure Name Total revenue      
Named Executive Officers, Footnote
(1) The dollar amounts reported are the amounts of total compensation reported for our CEO, Mr. Ric Fulop, in the Summary Compensation Table for each of the fiscal years listed in the table. Mr. Fulop served as CEO for each of the years presented.
(3) Reflects compensation information for our NEOs, other than our CEO, as described in the CD&A of this proxy statement. For 2023, reflects compensation information for Mr. Cole, Mr. Nogueira, and Mr. Myerberg. For 2022, reflects compensation information for Mr. Cole, Mr. Nogueira, Mr. Myerberg, Mr. Jafar, our former CEO of Desktop Health, Mr. Aggarwal, our former EVP of Corporate Development, and Mr. Haley, our former CFO. For 2021, reflects compensation information for Mr. Haley, Mr. Aggarwal, Mr. Jafar, Mr. Myerberg, Ms. Linardos, our former CFO, Mr. Mirman, our former Chief Marketing Officer, and Mr. El Siblani, our former CEO of EnvisionTEC. For 2020, reflects compensation information for Ms. Linardos and Mr. Billow, our former President.
     
Peer Group Issuers, Footnote
(4) The dollar amounts represent the cumulative TSR (the “Peer Group TSR”) of the S&P Small Cap 600 Information Technology Index for the relevant fiscal year, which is the peer group used by Desktop Metal for purposes of Item 201(e) of Regulation S-K under the Exchange Act in Desktop Metal’s Annual Report on Form 10-K for the year ended December 31, 2023.
     
PEO Total Compensation Amount $ 716,115 $ 631,011 $ 11,034,910 $ 483,008
PEO Actually Paid Compensation Amount $ 234,297 (5,045,468) 7,376,568 483,008
Adjustment To PEO Compensation, Footnote

Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:

2023

Average Non-

PEO

PEO NEOs

Adjustments

($)

($)

Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY

(733,332)

Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End

401,682

Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End

(481,818)

(583,347)

Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date

(49,359)

Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End

Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date

Increase based on Incremental Fair Value of Options/SARs Modified during Applicable FY

TOTAL ADJUSTMENTS

(481,818)

(964,356)

     
Non-PEO NEO Average Total Compensation Amount $ 1,416,646 2,345,844 4,197,184 3,489,752
Non-PEO NEO Average Compensation Actually Paid Amount $ 452,290 (294,720) (421,625) 12,745,887
Adjustment to Non-PEO NEO Compensation Footnote

Compensation actually paid to our NEOs represents the “Total” compensation reported in the Summary Compensation Table for the applicable fiscal year, as adjusted as follows:

2023

Average Non-

PEO

PEO NEOs

Adjustments

($)

($)

Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY

(733,332)

Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End

401,682

Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End

(481,818)

(583,347)

Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date

(49,359)

Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End

Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date

Increase based on Incremental Fair Value of Options/SARs Modified during Applicable FY

TOTAL ADJUSTMENTS

(481,818)

(964,356)

     
Compensation Actually Paid vs. Total Shareholder Return

Graphic

     
Compensation Actually Paid vs. Net Income

Graphic

     
Compensation Actually Paid vs. Company Selected Measure

Graphic

     
Tabular List, Table

Narrative Disclosure to Pay Versus Performance Table

Pay versus Performance Tabular List

We believe the following performance measures represent the most important financial performance measures used by us to link compensation actually paid to our NEOs for the fiscal year ended December 31, 2023:

Total revenue;
Non-GAAP Margin; and
Adjusted EBITDA.

Refer to Appendix A for a reconciliation of Non-GAAP measures to the related GAAP measure.

     
Total Shareholder Return Amount $ 7.78 14.01 51.02 177.29
Peer Group Total Shareholder Return Amount 167.06 139.45 179.61 141.60
Net Income (Loss) $ (323,271,000) $ (740,343,000) $ (240,334,000) $ (34,015,000)
Company Selected Measure Amount 189,698,000 209,023,000 112,408,000 16,470,000
PEO Name Mr. Ric Fulop      
Measure:: 1        
Pay vs Performance Disclosure        
Name Total revenue      
Non-GAAP Measure Description
(5) Total revenue is a GAAP measure.
     
Measure:: 2        
Pay vs Performance Disclosure        
Name Non-GAAP Margin      
Measure:: 3        
Pay vs Performance Disclosure        
Name Adjusted EBITDA      
PEO        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (481,818)      
PEO | Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (481,818)      
Non-PEO NEO        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (964,356)      
Non-PEO NEO | Deduction for Amounts Reported under the "Stock Awards" and "Option Awards" Columns in the Summary Compensation Table for Applicable FY        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (733,332)      
Non-PEO NEO | Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 401,682      
Non-PEO NEO | Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (583,347)      
Non-PEO NEO | Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (49,359)