ALARM.COM HOLDINGS, INC., DEF 14A filed on 4/24/2023
Proxy Statement (definitive)
v3.23.1
Cover
 12 Months Ended
Dec. 31, 2022
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name Alarm.com Holdings, Inc.
Entity Central Index Key 0001459200
v3.23.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
Pay Versus Performance
The following table reports the compensation of our CEO and the average compensation of the other Named Executive Officers (non-CEO NEOs) as reported in the Summary Compensation Table for the past three fiscal years, as well as their “compensation actually paid” as calculated pursuant to recently adopted SEC rules and certain performance measures required by the rules.
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Average
Summary
Compensation
Table Total
for Non-CEO
NEOs(2) ($)
​ ​
Average
Compensation
“Actually
Paid” to
Non-CEO
NEOs(3) ($)
​ ​
Value of Initial Fixed $100
Investment Based on:
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Year(1)
​ ​
Summary
Compensation
Table Total for
CEO(2) ($)
​ ​
Compensation
“Actually Paid”
to CEO(3) ($)
​ ​
Company
Total
Shareholder
Return ($)(4)
​ ​
Peer Group
Total
Shareholder
Return(4) ($)
​ ​
Net Income
($ in
thousands)(5)
​ ​
SaaS and
License
Revenue(6)
​
(a)
​ ​
(b)
​ ​
(c)
​ ​
(d)
​ ​
(e)
​ ​
(f)
​ ​
(g)
​ ​
(h)
​ ​
(i)
​
2022 ​ ​ ​ ​ 2,628,068 ​ ​ ​ ​ ​ (1,979,284) ​ ​ ​ ​ ​ 1,862,471 ​ ​ ​ ​ ​ 182,761 ​ ​ ​ ​ ​ 115.15 ​ ​ ​ ​ ​ 116.65 ​ ​ ​ ​ ​ 55,631 ​ ​ ​ ​ ​ 520,377 ​ ​
2021 ​ ​ ​ ​ 3,613,596 ​ ​ ​ ​ ​ 1,586,343 ​ ​ ​ ​ ​ 2,220,484 ​ ​ ​ ​ ​ 1,494,706 ​ ​ ​ ​ ​ 197.37 ​ ​ ​ ​ ​ 174.36 ​ ​ ​ ​ ​ 51,175 ​ ​ ​ ​ ​ 460,372 ​ ​
2020 ​ ​ ​ ​ 1,890,141 ​ ​ ​ ​ ​ 9,991,190 ​ ​ ​ ​ ​ 1,275,652 ​ ​ ​ ​ ​ 4,695,274 ​ ​ ​ ​ ​ 240.75 ​ ​ ​ ​ ​ 143.64 ​ ​ ​ ​ ​ 76,660 ​ ​ ​ ​ ​ 393,257 ​ ​
​
(1)
The CEO and non-CEO NEOs for each year reported were as follows: Stephen Trundle (PEO); Steve Valenzuela, Jeffrey Bedell, Daniel Kerzner, Daniel Ramos (Non-CEO NEOs)
​
(2)
The 2022 Summary Compensation Table totals reflected are as reported for the CEO and the average of the non-CEO NEOs for each of 2022, 2021, and 2020.
​
(3)
Compensation Actually Paid: The dollar amounts reported in columns (c) and (e) represent the amount of compensation “actually paid” to the CEO and the average amount of compensation “actually paid” to the Non-CEO NEOs as a group, as computed in accordance with Item 402(v) of Regulation S-K. The following table details the applicable adjustments that were made to the CEO’s and the Non-CEO NEOs’ total compensation for each year to determine the compensation “actually paid” ​(all amounts are averages for the Non-CEO NEOs other than the CEO). For purposes of determining the compensation “actually paid,” no value was included for the pension benefit adjustments, because the Company does not provide such benefits to the NEOs (including the CEO).
​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Equity Award Adjustments
​ ​ ​ ​ ​ ​ ​
Year
​ ​
Executives
​ ​
Reported
Summary
Compensation
Table (SCT)
Total ($)
​ ​
Stock Awards
Deducted
from SCT
Total (a) ($)
​ ​
Stock Awards
Added to
Compensation
“Actually Paid”
($)
​ ​
Stock Option
Awards
Deducted from
SCT Total ($)
​ ​
Stock Option
Awards Added to
Compensation
“Actually Paid”
($)
​ ​
Total
Compensation
“Actually
Paid” ​($)
​
​ ​ ​ ​ ​ ​
(a)
​ ​
(b)
​ ​
(c)
​ ​
(d)
​ ​
(e)
​ ​ ​ ​ ​ ​ ​
2022 ​ ​ CEO ​ ​ ​ ​ 2,628,068 ​ ​ ​ ​ ​ 1,477,500 ​ ​ ​ ​ ​ (921,300) ​ ​ ​ ​ ​ 718,568 ​ ​ ​ ​ ​ (1,489,984) ​ ​ ​ ​ ​ (1,979,284) ​ ​
​ ​ ​
Non-CEO NEOs
​ ​ ​ ​ 1,862,471 ​ ​ ​ ​ ​ 908,663 ​ ​ ​ ​ ​ (375,779) ​ ​ ​ ​ ​ 368,266 ​ ​ ​ ​ ​ (27,003) ​ ​ ​ ​ ​ 182,761 ​ ​
2021 ​ ​ CEO ​ ​ ​ ​ 3,613,596 ​ ​ ​ ​ ​ 2,062,750 ​ ​ ​ ​ ​ 1,042,650 ​ ​ ​ ​ ​ 1,090,846 ​ ​ ​ ​ ​ 83,693 ​ ​ ​ ​ ​ 1,586,343 ​ ​
​ ​ ​
Non-CEO NEOs
​ ​ ​ ​ 2,220,484 ​ ​ ​ ​ ​ 1,134,513 ​ ​ ​ ​ ​ 562,481 ​ ​ ​ ​ ​ 499,971 ​ ​ ​ ​ ​ 346,226 ​ ​ ​ ​ ​ 1,494,706 ​ ​
2020 ​ ​ CEO ​ ​ ​ ​ 1,890,141 ​ ​ ​ ​ ​ 948,500 ​ ​ ​ ​ ​ 4,652,750 ​ ​ ​ ​ ​ 417,641 ​ ​ ​ ​ ​ 4,814,440 ​ ​ ​ ​ ​ 9,991,190 ​ ​
​ ​ ​
Non-CEO NEOs
​ ​ ​ ​ 1,275,652 ​ ​ ​ ​ ​ 497,963 ​ ​ ​ ​ ​ 2,539,217 ​ ​ ​ ​ ​ 206,343 ​ ​ ​ ​ ​ 1,584,710 ​ ​ ​ ​ ​ 4,695,274 ​ ​
​
(4)
The Company’s TSR and the Company’s Peer Group TSR reflected in these columns for each applicable fiscal year is determined based on the value of an initial fixed investment of $100 on December 31, 2019. The Peer Group TSR represents TSR of the Nasdaq Composite Index, which is the industry peer group used for purposes of Item 201(e) of Regulation S-K.
​
(5)
Represents, in thousands, the amount of net income, reflected in the Company’s audited financial statements for the year indicated.
​
(6)
The Company has identified SaaS and License Revenue as our company-selected measure, as it represents the most important financial measure used to link compensation actually paid to the CEO and the non-CEO NEOs in 2022 to the Company’s performance. See Annex A for more information on the Company’s use of non-GAAP metrics, including GAAP to non-GAAP reconciliations.
   
Company Selected Measure Name SaaS and License Revenue    
Named Executive Officers, Footnote [Text Block]
(1)
The CEO and non-CEO NEOs for each year reported were as follows: Stephen Trundle (PEO); Steve Valenzuela, Jeffrey Bedell, Daniel Kerzner, Daniel Ramos (Non-CEO NEOs)
​
(2)
The 2022 Summary Compensation Table totals reflected are as reported for the CEO and the average of the non-CEO NEOs for each of 2022, 2021, and 2020.
   
Peer Group Issuers, Footnote [Text Block]
(4)
The Company’s TSR and the Company’s Peer Group TSR reflected in these columns for each applicable fiscal year is determined based on the value of an initial fixed investment of $100 on December 31, 2019. The Peer Group TSR represents TSR of the Nasdaq Composite Index, which is the industry peer group used for purposes of Item 201(e) of Regulation S-K.
   
PEO Total Compensation Amount $ 2,628,068 $ 3,613,596 $ 1,890,141
PEO Actually Paid Compensation Amount $ (1,979,284) 1,586,343 9,991,190
Adjustment To PEO Compensation, Footnote [Text Block]
(3)
Compensation Actually Paid: The dollar amounts reported in columns (c) and (e) represent the amount of compensation “actually paid” to the CEO and the average amount of compensation “actually paid” to the Non-CEO NEOs as a group, as computed in accordance with Item 402(v) of Regulation S-K. The following table details the applicable adjustments that were made to the CEO’s and the Non-CEO NEOs’ total compensation for each year to determine the compensation “actually paid” ​(all amounts are averages for the Non-CEO NEOs other than the CEO). For purposes of determining the compensation “actually paid,” no value was included for the pension benefit adjustments, because the Company does not provide such benefits to the NEOs (including the CEO).
​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Equity Award Adjustments
​ ​ ​ ​ ​ ​ ​
Year
​ ​
Executives
​ ​
Reported
Summary
Compensation
Table (SCT)
Total ($)
​ ​
Stock Awards
Deducted
from SCT
Total (a) ($)
​ ​
Stock Awards
Added to
Compensation
“Actually Paid”
($)
​ ​
Stock Option
Awards
Deducted from
SCT Total ($)
​ ​
Stock Option
Awards Added to
Compensation
“Actually Paid”
($)
​ ​
Total
Compensation
“Actually
Paid” ​($)
​
​ ​ ​ ​ ​ ​
(a)
​ ​
(b)
​ ​
(c)
​ ​
(d)
​ ​
(e)
​ ​ ​ ​ ​ ​ ​
2022 ​ ​ CEO ​ ​ ​ ​ 2,628,068 ​ ​ ​ ​ ​ 1,477,500 ​ ​ ​ ​ ​ (921,300) ​ ​ ​ ​ ​ 718,568 ​ ​ ​ ​ ​ (1,489,984) ​ ​ ​ ​ ​ (1,979,284) ​ ​
​ ​ ​
Non-CEO NEOs
​ ​ ​ ​ 1,862,471 ​ ​ ​ ​ ​ 908,663 ​ ​ ​ ​ ​ (375,779) ​ ​ ​ ​ ​ 368,266 ​ ​ ​ ​ ​ (27,003) ​ ​ ​ ​ ​ 182,761 ​ ​
2021 ​ ​ CEO ​ ​ ​ ​ 3,613,596 ​ ​ ​ ​ ​ 2,062,750 ​ ​ ​ ​ ​ 1,042,650 ​ ​ ​ ​ ​ 1,090,846 ​ ​ ​ ​ ​ 83,693 ​ ​ ​ ​ ​ 1,586,343 ​ ​
​ ​ ​
Non-CEO NEOs
​ ​ ​ ​ 2,220,484 ​ ​ ​ ​ ​ 1,134,513 ​ ​ ​ ​ ​ 562,481 ​ ​ ​ ​ ​ 499,971 ​ ​ ​ ​ ​ 346,226 ​ ​ ​ ​ ​ 1,494,706 ​ ​
2020 ​ ​ CEO ​ ​ ​ ​ 1,890,141 ​ ​ ​ ​ ​ 948,500 ​ ​ ​ ​ ​ 4,652,750 ​ ​ ​ ​ ​ 417,641 ​ ​ ​ ​ ​ 4,814,440 ​ ​ ​ ​ ​ 9,991,190 ​ ​
​ ​ ​
Non-CEO NEOs
​ ​ ​ ​ 1,275,652 ​ ​ ​ ​ ​ 497,963 ​ ​ ​ ​ ​ 2,539,217 ​ ​ ​ ​ ​ 206,343 ​ ​ ​ ​ ​ 1,584,710 ​ ​ ​ ​ ​ 4,695,274 ​ ​
   
Non-PEO NEO Average Total Compensation Amount $ 1,862,471 2,220,484 1,275,652
Non-PEO NEO Average Compensation Actually Paid Amount $ 182,761 1,494,706 4,695,274
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
(3)
Compensation Actually Paid: The dollar amounts reported in columns (c) and (e) represent the amount of compensation “actually paid” to the CEO and the average amount of compensation “actually paid” to the Non-CEO NEOs as a group, as computed in accordance with Item 402(v) of Regulation S-K. The following table details the applicable adjustments that were made to the CEO’s and the Non-CEO NEOs’ total compensation for each year to determine the compensation “actually paid” ​(all amounts are averages for the Non-CEO NEOs other than the CEO). For purposes of determining the compensation “actually paid,” no value was included for the pension benefit adjustments, because the Company does not provide such benefits to the NEOs (including the CEO).
​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Equity Award Adjustments
​ ​ ​ ​ ​ ​ ​
Year
​ ​
Executives
​ ​
Reported
Summary
Compensation
Table (SCT)
Total ($)
​ ​
Stock Awards
Deducted
from SCT
Total (a) ($)
​ ​
Stock Awards
Added to
Compensation
“Actually Paid”
($)
​ ​
Stock Option
Awards
Deducted from
SCT Total ($)
​ ​
Stock Option
Awards Added to
Compensation
“Actually Paid”
($)
​ ​
Total
Compensation
“Actually
Paid” ​($)
​
​ ​ ​ ​ ​ ​
(a)
​ ​
(b)
​ ​
(c)
​ ​
(d)
​ ​
(e)
​ ​ ​ ​ ​ ​ ​
2022 ​ ​ CEO ​ ​ ​ ​ 2,628,068 ​ ​ ​ ​ ​ 1,477,500 ​ ​ ​ ​ ​ (921,300) ​ ​ ​ ​ ​ 718,568 ​ ​ ​ ​ ​ (1,489,984) ​ ​ ​ ​ ​ (1,979,284) ​ ​
​ ​ ​
Non-CEO NEOs
​ ​ ​ ​ 1,862,471 ​ ​ ​ ​ ​ 908,663 ​ ​ ​ ​ ​ (375,779) ​ ​ ​ ​ ​ 368,266 ​ ​ ​ ​ ​ (27,003) ​ ​ ​ ​ ​ 182,761 ​ ​
2021 ​ ​ CEO ​ ​ ​ ​ 3,613,596 ​ ​ ​ ​ ​ 2,062,750 ​ ​ ​ ​ ​ 1,042,650 ​ ​ ​ ​ ​ 1,090,846 ​ ​ ​ ​ ​ 83,693 ​ ​ ​ ​ ​ 1,586,343 ​ ​
​ ​ ​
Non-CEO NEOs
​ ​ ​ ​ 2,220,484 ​ ​ ​ ​ ​ 1,134,513 ​ ​ ​ ​ ​ 562,481 ​ ​ ​ ​ ​ 499,971 ​ ​ ​ ​ ​ 346,226 ​ ​ ​ ​ ​ 1,494,706 ​ ​
2020 ​ ​ CEO ​ ​ ​ ​ 1,890,141 ​ ​ ​ ​ ​ 948,500 ​ ​ ​ ​ ​ 4,652,750 ​ ​ ​ ​ ​ 417,641 ​ ​ ​ ​ ​ 4,814,440 ​ ​ ​ ​ ​ 9,991,190 ​ ​
​ ​ ​
Non-CEO NEOs
​ ​ ​ ​ 1,275,652 ​ ​ ​ ​ ​ 497,963 ​ ​ ​ ​ ​ 2,539,217 ​ ​ ​ ​ ​ 206,343 ​ ​ ​ ​ ​ 1,584,710 ​ ​ ​ ​ ​ 4,695,274 ​ ​
   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]
[MISSING IMAGE: bc_actuallypaid-4c.jpg]
   
Compensation Actually Paid vs. Net Income [Text Block]
[MISSING IMAGE: bc_netincome-4c.jpg]
   
Compensation Actually Paid vs. Company Selected Measure [Text Block]
[MISSING IMAGE: bc_actuallypaidsaas-4c.jpg]
   
Total Shareholder Return Vs Peer Group [Text Block]
[MISSING IMAGE: lc_peergroup-4c.jpg]
   
Tabular List [Table Text Block]
Tabular List of Financial Performance Measures
The Company considers the following to be the most important financial performance measures it uses to link actual compensation paid to its NEOs, for 2022, to Company performance. We do not currently use any other metrics, performance or otherwise, in our incentive compensation plans but may incorporate other metrics in the future.
•
SaaS and license revenue
​
•
Adjusted EBITDA
   
Total Shareholder Return Amount $ 115.15 197.37 240.75
Peer Group Total Shareholder Return Amount 116.65 174.36 143.64
Net Income (Loss) $ 55,631,000 $ 51,175,000 $ 76,660,000
Company Selected Measure Amount 520,377 460,372 393,257
PEO Name Stephen Trundle (PEO)    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name SaaS and license revenue    
Non-GAAP Measure Description [Text Block]
(6)
The Company has identified SaaS and License Revenue as our company-selected measure, as it represents the most important financial measure used to link compensation actually paid to the CEO and the non-CEO NEOs in 2022 to the Company’s performance. See Annex A for more information on the Company’s use of non-GAAP metrics, including GAAP to non-GAAP reconciliations.
   
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted EBITDA    
PEO [Member] | Stock Awards Deducted from SCT Total [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 1,477,500 $ 2,062,750 $ 948,500
PEO [Member] | Stock Awards Added to Compensation “Actually Paid” [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (921,300) 1,042,650 4,652,750
PEO [Member] | Stock Option Awards Deducted from SCT Total [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 718,568 1,090,846 417,641
PEO [Member] | Stock Option Awards Added to Compensation “Actually Paid” [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,489,984) 83,693 4,814,440
Non-PEO NEO [Member] | Stock Awards Deducted from SCT Total [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 908,663 1,134,513 497,963
Non-PEO NEO [Member] | Stock Awards Added to Compensation “Actually Paid” [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (375,779) 562,481 2,539,217
Non-PEO NEO [Member] | Stock Option Awards Deducted from SCT Total [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 368,266 499,971 206,343
Non-PEO NEO [Member] | Stock Option Awards Added to Compensation “Actually Paid” [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (27,003) $ 346,226 $ 1,584,710