Pay vs Performance Disclosure - USD ($)
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12 Months Ended |
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 |
PAY VERSUS PERFORMANCE DISCLOSURE In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive compensation for Livent’s principal executive officer (“PEO”) and Non-PEO NEOs and Livent performance for the fiscal years listed below. The Livent Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown. | | | | Summary | | | | | | Average
Summary
Compensation | | | Average
Compensation | | | Value of Initial Fixed $100
Investment based on:(4) | | | | | | Compensation
Table Total for
PEO(1) | | | Compensation
Actually Paid
to PEO(1),(2),(3) | | | Table Total
for Non-PEO
NEOs(1) | | | Actually Paid
to Non-PEO
NEOs(1),(2),(3) | | | TSR | | | Peer
Group
TSR | | | Net Income(5) | | | Livent
Adjusted
EBITDA(6) | | | Year | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($) | | | ($ Millions) | | | ($ Millions) | | | 2023 | | | 5,070,011 | | | 3,162,037 | | | 1,633,465 | | | 1,201,936 | | | 210.29 | | | 146.45 | | | 330.1 | | | 504.0 | | | 2022 | | | 4,144,685 | | | 4,296,561 | | | 1,326,307 | | | 1,397,314 | | | 232.40 | | | 131.89 | | | 273.5 | | | 270.8 | | | 2021 | | | 4,747,841 | | | 7,473,306 | | | 1,391,078 | | | 1,975,549 | | | 285.15 | | | 148.63 | | | 0.6 | | | 69.5 | | | 2020 | | | 1,744,802 | | | 5,133,790 | | | 660,216 | | | 1,302,432 | | | 220.35 | | | 118.05 | | | (16.3) | | | 22.3 | |
1.
| Paul Graves was Livent’s PEO for each year presented. The individuals comprising Livent’s Non-PEO NEOs for each year presented are Gilberto Antoniazzi and Sara Ponessa. |
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, who were the sole executive officers at Livent. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below. |
3.
| Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the Livent PEO and Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC 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. |
| Year | | | Summary
Compensation
Table Total
for PEO
($) | | | Exclusion of
Stock Awards
and Option
Awards for
PEO
($) | | | Inclusion of
Equity Values
for PEO
($) | | | Compensation
Actually Paid
to PEO
($) | | | 2023 | | | 5,070,011 | | | (2,734,780) | | | 826,806 | | | 3,162,037 | |
| Year | | | Average
Summary Compensation
Table Total
for Non-PEO NEOs
($) | | | Average
Exclusion of
Stock Awards
and Option
Awards for
Non-PEO
NEOs
($) | | | Average
Inclusion of
Equity Values
for Non-PEO
NEOs
($) | | | Average
Compensation
Actually Paid
to Non-PEO
NEOs
($) | | | 2023 | | | 1,633,465 | | | (621,686) | | | 190,157 | | | 1,201,936 | |
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables: | Year | | | Year-End Fair
Value of Equity
Awards Granted
During Year
That Remained
Unvested as of
Last Day of Year
for PEO
($) | | | Change in Fair
Value from Last
Day of Prior
Year to Last Day
of Year of
Unvested Equity
Awards for PEO
($) | | | Vesting-Date
Fair Value of
Equity Awards
Granted During
Year that Vested
During Year for
PEO
($) | | | Change in Fair
Value from Last
Day of Prior
Year to Vesting
Date of Unvested
Equity Awards
that Vested
During Year for
PEO
($) | | | Fair Value at
Last Day of Prior
Year of Equity
Awards Forfeited
During Year for
PEO
($) | | | Value of
Dividends or
Other Earnings
Paid on Equity
Awards Not
Otherwise
Included for
PEO
($) | | | Total - Inclusion
of Equity Values
for PEO
($) | | | 2023 | | | 1,152,393 | | | (630,869) | | | 385,383 | | | (80,101) | | | — | | | — | | | 826,806 | |
| Year | | | Average Year-
End Fair Value
of Equity Awards
Granted During
Year That
Remained
Unvested as of
Last Day of Year
for Non-PEO
NEOs
($) | | | Average Change
in Fair Value
from Last Day of
Prior Year to
Last Day of Year
of Unvested
Equity Awards
for Non-PEO
NEOs
($) | | | Average Vesting-
Date Fair Value
of Equity Awards
Granted During
Year that Vested
During Year for
Non-PEO
NEOs
($) | | | 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
($) | | | Average Fair
Value at Last
Day of Prior
Year of Equity
Awards Forfeited
During Year for
Non-PEO NEOs
($) | | | Average Value of
Dividends or
Other Earnings
Paid on Equity
Awards Not
Otherwise
Included for
Non-PEO NEOs
($) | | | Total - Average
Inclusion of
Equity Values
for Non-PEO
NEOs
($) | | | 2023 | | | 261,921 | | | (141,102) | | | 87,597 | | | (18,259) | | | — | | | — | | | 190,157 | |
4.
| The TSR set forth in this table assumes $100 was invested on December 31, 2019, in Livent’s Common Stock, through the end of the listed year. The Peer Group TSR set forth in this table utilizes the S&P 500 Chemicals 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 year ended December 31, 2023. The Peer Group TSR assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the S&P 500 Chemicals Index. Historical stock performance is not necessarily indicative of future stock performance. |
5.
| This column includes Livent’s Net Income for each year presented. |
6.
| We determined Livent Adjusted EBITDA, as defined for purposes of our annual incentive plan and discussed in our CD&A, to be the most important financial performance measure used to link Livent performance to Compensation Actually Paid to Livent’s PEO and Non-PEO NEOs in 2023. This performance measure may not have been the most important Livent financial performance measure for prior years, and we may determine a different financial performance measure to be the most important financial performance measure in future years, including for purposes of the combined company. Livent’s Adjusted EBITDA is defined for purposes of the annual incentive plan as set forth above in the “Executive Compensation—Compensation Discussion and Analysis” section. |
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Company Selected Measure Name |
Adjusted EBITDA
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Named Executive Officers, Footnote |
1.
| Paul Graves was Livent’s PEO for each year presented. The individuals comprising Livent’s Non-PEO NEOs for each year presented are Gilberto Antoniazzi and Sara Ponessa. |
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Peer Group Issuers, Footnote |
4.
| The TSR set forth in this table assumes $100 was invested on December 31, 2019, in Livent’s Common Stock, through the end of the listed year. The Peer Group TSR set forth in this table utilizes the S&P 500 Chemicals 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 year ended December 31, 2023. The Peer Group TSR assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the S&P 500 Chemicals Index. Historical stock performance is not necessarily indicative of future stock performance. |
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PEO Total Compensation Amount |
$ 5,070,011
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$ 4,144,685
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$ 4,747,841
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$ 1,744,802
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PEO Actually Paid Compensation Amount |
$ 3,162,037
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4,296,561
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7,473,306
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5,133,790
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Adjustment To PEO Compensation, Footnote |
3.
| Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the Livent PEO and Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC 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. |
| Year | | | Summary
Compensation
Table Total
for PEO
($) | | | Exclusion of
Stock Awards
and Option
Awards for
PEO
($) | | | Inclusion of
Equity Values
for PEO
($) | | | Compensation
Actually Paid
to PEO
($) | | | 2023 | | | 5,070,011 | | | (2,734,780) | | | 826,806 | | | 3,162,037 | |
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables: | Year | | | Year-End Fair
Value of Equity
Awards Granted
During Year
That Remained
Unvested as of
Last Day of Year
for PEO
($) | | | Change in Fair
Value from Last
Day of Prior
Year to Last Day
of Year of
Unvested Equity
Awards for PEO
($) | | | Vesting-Date
Fair Value of
Equity Awards
Granted During
Year that Vested
During Year for
PEO
($) | | | Change in Fair
Value from Last
Day of Prior
Year to Vesting
Date of Unvested
Equity Awards
that Vested
During Year for
PEO
($) | | | Fair Value at
Last Day of Prior
Year of Equity
Awards Forfeited
During Year for
PEO
($) | | | Value of
Dividends or
Other Earnings
Paid on Equity
Awards Not
Otherwise
Included for
PEO
($) | | | Total - Inclusion
of Equity Values
for PEO
($) | | | 2023 | | | 1,152,393 | | | (630,869) | | | 385,383 | | | (80,101) | | | — | | | — | | | 826,806 | |
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Non-PEO NEO Average Total Compensation Amount |
$ 1,633,465
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1,326,307
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1,391,078
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660,216
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Non-PEO NEO Average Compensation Actually Paid Amount |
$ 1,201,936
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1,397,314
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1,975,549
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1,302,432
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Adjustment to Non-PEO NEO Compensation Footnote |
3.
| Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the Livent PEO and Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC 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. |
| Year | | | Average
Summary Compensation
Table Total
for Non-PEO NEOs
($) | | | Average
Exclusion of
Stock Awards
and Option
Awards for
Non-PEO
NEOs
($) | | | Average
Inclusion of
Equity Values
for Non-PEO
NEOs
($) | | | Average
Compensation
Actually Paid
to Non-PEO
NEOs
($) | | | 2023 | | | 1,633,465 | | | (621,686) | | | 190,157 | | | 1,201,936 | |
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables: | Year | | | Average Year-
End Fair Value
of Equity Awards
Granted During
Year That
Remained
Unvested as of
Last Day of Year
for Non-PEO
NEOs
($) | | | Average Change
in Fair Value
from Last Day of
Prior Year to
Last Day of Year
of Unvested
Equity Awards
for Non-PEO
NEOs
($) | | | Average Vesting-
Date Fair Value
of Equity Awards
Granted During
Year that Vested
During Year for
Non-PEO
NEOs
($) | | | Average Change
in Fair Value
from Last Day of
Prior Year to
Vesting Date of
Unvested Equity
Awards that
Vested During
Year for Non-
PEO NEOs
($) | | | Average Fair
Value at Last
Day of Prior
Year of Equity
Awards Forfeited
During Year for
Non-PEO NEOs
($) | | | Average Value of
Dividends or
Other Earnings
Paid on Equity
Awards Not
Otherwise
Included for
Non-PEO NEOs
($) | | | Total - Average
Inclusion of
Equity Values
for Non-PEO
NEOs
($) | | | 2023 | | | 261,921 | | | (141,102) | | | 87,597 | | | (18,259) | | | — | | | — | | | 190,157 | |
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Compensation Actually Paid vs. Total Shareholder Return |
Relationship Between Compensation Actually Paid and Company TSR The following chart sets forth the relationship between Compensation Actually Paid to Livent’s PEO, the average of Compensation Actually Paid to Livent’s Non-PEO NEOs, and Livent’s cumulative TSR over the four most recently completed fiscal years to that of the S&P 500 Chemicals Index over the same period.
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Compensation Actually Paid vs. Net Income |
Relationship Between Compensation Actually Paid and Livent Net Income The following chart sets forth the relationship between Compensation Actually Paid to Livent’s PEO, the average of Compensation Actually Paid to Livent’s Non-PEO NEOs, and Livent’s net income during the four most recently completed fiscal years.
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Compensation Actually Paid vs. Company Selected Measure |
Relationship Between Compensation Actually Paid and Livent Adjusted EBITDA The following chart sets forth the relationship between Compensation Actually Paid to Livent’s PEO, the average of Compensation Actually Paid to Livent’s Non-PEO NEOs, and Livent’s Adjusted EBITDA during the four most recently completed fiscal years.
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Total Shareholder Return Vs Peer Group |
Relationship Between Compensation Actually Paid and Company TSR The following chart sets forth the relationship between Compensation Actually Paid to Livent’s PEO, the average of Compensation Actually Paid to Livent’s Non-PEO NEOs, and Livent’s cumulative TSR over the four most recently completed fiscal years to that of the S&P 500 Chemicals Index over the same period.
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Tabular List, Table |
Tabular List of Most Important Livent 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 Livent’s PEO and Non-PEO NEOs for 2023 to Livent performance. The measures in this table are not ranked. | Adjusted EBITDA
Relative TSR | |
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Total Shareholder Return Amount |
$ 210.29
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232.4
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285.15
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220.35
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Peer Group Total Shareholder Return Amount |
146.45
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131.89
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148.63
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118.05
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Net Income (Loss) |
$ 330,100,000
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$ 273,500,000
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$ 600,000
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$ (16,300,000)
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Company Selected Measure Amount |
504,000,000
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270,800,000
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69,500,000
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22,300,000
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PEO Name |
Paul Graves
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Paul Graves
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Paul Graves
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Paul Graves
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Measure:: 1 |
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Pay vs Performance Disclosure |
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Name |
Adjusted EBITDA
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Non-GAAP Measure Description |
6.
| We determined Livent Adjusted EBITDA, as defined for purposes of our annual incentive plan and discussed in our CD&A, to be the most important financial performance measure used to link Livent performance to Compensation Actually Paid to Livent’s PEO and Non-PEO NEOs in 2023. This performance measure may not have been the most important Livent financial performance measure for prior years, and we may determine a different financial performance measure to be the most important financial performance measure in future years, including for purposes of the combined company. Livent’s Adjusted EBITDA is defined for purposes of the annual incentive plan as set forth above in the “Executive Compensation—Compensation Discussion and Analysis” section. |
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Measure:: 2 |
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Pay vs Performance Disclosure |
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Name |
Relative TSR
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PEO | Stock Awards and Option Awards [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
$ (2,734,780)
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PEO | Equity Values [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
826,806
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PEO | Year-End Fair Value of Equity Awards Granted During Year that Remained Unvested as of Last Day of Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
1,152,393
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PEO | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(630,869)
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PEO | Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
385,383
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PEO | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(80,101)
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PEO | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
0
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PEO | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
0
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Non-PEO NEO | Stock Awards and Option Awards [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(621,686)
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Non-PEO NEO | Equity Values [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
190,157
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Non-PEO NEO | Year-End Fair Value of Equity Awards Granted During Year that Remained Unvested as of Last Day of Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
261,921
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Non-PEO NEO | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(141,102)
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Non-PEO NEO | Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
87,597
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Non-PEO NEO | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(18,259)
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Non-PEO NEO | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
0
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Non-PEO NEO | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
$ 0
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