GLOBAL INDUSTRIAL CO, DEF 14A filed on 4/24/2024
Proxy Statement (definitive)
v3.24.1.u1
Cover
 12 Months Ended
Dec. 31, 2023
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name Global Industrial Company
Entity Central Index Key 0000945114
v3.24.1.u1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Year
(a)
Summary Compensation Table Total for PEO(1)(2)
($)
(b)
Compensation Actually Paid to PEO(3)(4)
($)
(c)
Average Summary Compensation Table Total for Non-PEO NEOs(3)
($)(d)
Average Compensation Actually Paid to Non-PEO NEOs
(e)(1)(3)(4)
Value of Initial Fixed $100 Investment Based On:(5)
Net Income
($mm)
(h)
Adjusted
Operating
Income
($mm)
(i)
Total Shareholder Return
(f)		Peer Group Total
Shareholder Return
(g)
20232,775,057 4,902,7961,052,016 1,458,579 193.31157.4870.796.5
20224,237,236 2,166,1461,036,904 703,292 113.95138.3978.8105.2
20212,994,500 3,543,5681,075,700 963,934 193.48202.44103.388.0
20203,043,500 4,189,4731,155,400 1,432,153 162.81141.9465.484.1
      
Named Executive Officers, Footnote Mr. Litwin was our PEO for each year presented. The individuals comprising the Non-PEO NEOs for each year presented are as follows:
2023: Richard B. Leeds, Bruce Leeds, Robert Leeds, Thomas Clark, Claudia Hughes and Manoj Shetty.
2022: Thomas Clark, Claudia Hughes, Manoj Shetty and Klaus Werner.
2021: Richard B. Leeds, Bruce Leeds, Robert Leeds, Thomas Clark and Eric Lerner.
2020: Richard B. Leeds, Bruce Leeds, Robert Leeds, Thomas Clark, Ritesh Chaturbedi, Robert Dooley and Eric Lerner. 		     
Peer Group Issuers, Footnote For each of 2023, 2022, 2021 and 2020, total shareholder return for the Company and the peer group represents the dollar value as of December 31, 2023, 2022, 2021 and 2020, of a deemed fixed investment of $100 at market close on December 31, 2019, assuming reinvestment of dividends. The Peer Group TSR set forth in this table utilizes the S&P Retail 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.      
PEO Total Compensation Amount $ 2,775,057 $ 4,237,236 $ 2,994,500 $ 3,043,500
PEO Actually Paid Compensation Amount $ 4,902,796 2,166,146 3,543,568 4,189,473
Adjustment To PEO Compensation, Footnote For each of 2023, 2022, 2021 and 2020, the values included in this column for the compensation actually paid to our PEO and the average compensation actually paid to our Non-PEO NEOs reflect the following adjustments to the values included in column (b) and column (d), respectively.
PEO2023202220212020
Summary Compensation Table ("SCT") Total for PEO (column (b))$2,775,057 $4,237,236 $2,994,500 $3,043,500 
-aggregate change in actuarial present value of pension benefits$— $— $— $— 
+service cost of pension benefits$— $— $— $— 
+prior service cost of pension benefits$— $— $— $— 
-SCT “Stock Awards” column value$(199,978)$(1,700,000)$(850,000)$(700,000)
-SCT “Option Awards” column value$(900,012)$— $(150,000)$— 
+year-end fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered year-end$1,457,712 $986,025 $1,033,908 $1,010,159 
[+/-]year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end$1,537,977 $(1,463,516)$444,935 $849,800 
+vesting date fair value of equity awards granted and vested in the covered year$— $200,013 $— $— 
[+/-]year-over-year change in fair value of equity awards granted in prior years that vested in the covered year$232,040 $(93,612)$70,225 $(13,986)
-fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year$— $— $— $— 
+dollar value of dividends/earnings paid on equity awards in the covered year$— $— $— $— 
+excess fair value for equity award modifications$— $— $— $— 
Compensation Actually Paid to PEO (column (c)) $4,902,796 $2,166,146 $3,543,568 $4,189,473 
      
Non-PEO NEO Average Total Compensation Amount $ 1,052,016 1,036,904 1,075,700 1,155,400
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,458,579 703,292 963,934 1,432,153
Adjustment to Non-PEO NEO Compensation Footnote
Average for Non-PEO NEOs2023202220212020
Average SCT Total for Non-PEO NEOs (column (d))$1,052,016 $1,036,904 $1,075,700 $1,155,400 
-
aggregate change in actuarial present value of pension benefits
$— $— $— $— 
+service cost of pension benefits$— $— $— $— 
+prior service cost of pension benefits$— $— $— $— 
-SCT “Stock Awards” column value$(70,522)$(197,150)$(18,960)$(71,400)
-SCT “Option Awards” column value$(284,112)$(89,625)$(18,960)$(71,557)
+year-end fair value of equity awards granted in the covered year that are outstanding and unvested as of the covered year-end$463,981 $187,539 $33,741 $247,991 
[+/-]year-over-year change in fair value of equity awards granted in prior years that are outstanding and unvested as of the covered year-end$170,982 $(161,246)$17,720 $138,509 
+vesting date fair value of equity awards granted and vested in the covered year$— $— $— $— 
[+/-]year-over-year change in fair value of equity awards granted in prior years that vested in the covered year$126,234 $(73,130)$28,086 $33,210 
-fair value as of prior-year end of equity awards granted in prior years that failed to vest in the covered year$— $— $(153,393)$— 
+dollar value of dividends/earnings paid on equity awards in the covered year$— $— $— $— 
+excess fair value for equity award modifications$— $— $— $— 
Average Compensation Actually Paid to Non-PEO NEOs (column (e))$1,458,579 $703,292 $963,934 $1,432,153 
      
Compensation Actually Paid vs. Total Shareholder Return
Relationship Between Compensation Actually Paid and Global TSR and Peer TSR.jpg
      
Compensation Actually Paid vs. Net Income
Relationship Between Compensation Actually Paid and Global Industrial Net Income.jpg
      
Compensation Actually Paid vs. Company Selected Measure
Relationship Between Compensation Actually Paid and Operating Income.jpg
      
Total Shareholder Return Vs Peer Group
Relationship Between Compensation Actually Paid and Global TSR and Peer TSR.jpg
      
Tabular List, Table
Most Important Performance Measures
(3 to 7 metrics w/o ranking)
Net Sales
Gross Profit
Gross Margin
Adjusted Operating Income
     
Total Shareholder Return Amount $ 193.31 113.95 193.48 162.81
Peer Group Total Shareholder Return Amount 157.48 138.39 202.44 141.94
Net Income (Loss) $ 70,700,000 $ 78,800,000 $ 103,300,000 $ 65,400,000
Company Selected Measure Amount 96,500,000 105,200,000 88,000,000.0 84,100,000
PEO Name Mr. Litwin      
Additional 402(v) Disclosure The dollar amounts reported in column (b) are the amounts of total compensation reported for Mr. Litwin for each corresponding year in the Total Compensation column of the Summary Compensation Table. See Summary Compensation Table on page 51 of this Proxy Statement.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 realized or received by the Company’s NEOs. These amounts reflect total compensation as set forth in the Summary Compensation Table above for each corresponding year, adjusted as described in footnote 4 below.      
Measure:: 1        
Pay vs Performance Disclosure        
Name Net Sales      
Measure:: 2        
Pay vs Performance Disclosure        
Name Gross Profit      
Measure:: 3        
Pay vs Performance Disclosure        
Name Gross Margin      
Measure:: 4        
Pay vs Performance Disclosure        
Name Adjusted Operating Income      
PEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0 $ 0 $ 0 $ 0
PEO | Pension Adjustments Service Cost        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Pension Adjustments Prior Service Cost        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,457,712 986,025 1,033,908 1,010,159
PEO | 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 1,537,977 (1,463,516) 444,935 849,800
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 200,013 0 0
PEO | 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 232,040 (93,612) 70,225 (13,986)
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table, Stock Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (199,978) (1,700,000) (850,000) (700,000)
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table, Option Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (900,012) 0 (150,000) 0
PEO | Excess Fair Value For Equity Award Modifications [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
Non-PEO NEO | Pension Adjustments Service Cost        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
Non-PEO NEO | Pension Adjustments Prior Service Cost        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
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 463,981 187,539 33,741 247,991
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 170,982 (161,246) 17,720 138,509
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
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 126,234 (73,130) 28,086 33,210
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 (153,393) 0
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table, Stock Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (70,522) (197,150) (18,960) (71,400)
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table, Option Awards [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (284,112) (89,625) (18,960) (71,557)
Non-PEO NEO | Excess Fair Value For Equity Award Modifications [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0 $ 0 $ 0 $ 0