ACUSHNET HOLDINGS CORP., DEF 14A filed on 4/21/2023
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 Acushnet Holdings Corp.
Entity Central Index Key 0001672013
v3.23.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
Year
Summary Compensation Table Total
for PEO(1)
($)
Compensation Actually Paid
to PEO(1)(3)
($)
Avg. Summary
Compensation Table Total for
Non-PEO NEOs(2)
($)
Avg.
Compensation Actually Paid to Non-PEO NEOs(2)(3)
($)
Value of Initial Fixed $100 Investment Based on:
Net Income(5)
($)
Adjusted EBITDA(6)
($)
Total Shareholder Return
($)
Peer
Group(4) Total Shareholder Return
($)
20226,251,4753,428,8801,867,7451,166,105137.18103.89199,278338,408
20218,092,22522,206,7562,288,2305,171,829168.75147.06178,873328,337
20206,793,7498,875,8031,975,0662,399,933127.18120.1996,006233,184
    
Company Selected Measure Name Adjusted EBITDA    
Named Executive Officers, Footnote [Text Block] David Maher was the PEO for all three years in the table.The Non-PEO NEOs for all three years in the table were Thomas Pacheco, Mary Louise Bohn, Steven Pelisek and Christopher Lindner.    
Peer Group Issuers, Footnote [Text Block] The selected peer group, the S&P Consumer Apparel & Durables, is the same peer group used for performance comparisons under Item
201(e) of Regulation S-K in our Form 10-K, filed March 1, 2023 with the SEC. 		   
PEO Total Compensation Amount $ 6,251,475 $ 8,092,225 $ 6,793,749
PEO Actually Paid Compensation Amount $ 3,428,880 22,206,756 8,875,803
Adjustment To PEO Compensation, Footnote [Text Block] Amounts deducted from the Summary Compensation Table (“SCT”) total to calculate Compensation Actually Paid (“CAP”) to the PEO and the Non-PEO NEOs, respectively, for the years 2022, 2021 and 2020 are set forth in the tables below. The dollar amount of CAP is determined under SEC rules and does not reflect the actual amount of compensation earned by or paid to our PEO, or our Non-PEO NEOs as a group, for the applicable year.
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YearSummary Compensation Table Total
($)		Summary Compensation
Table Value of Equity Awards
($)		Summary Compensation Table Change in Pension Value
($)		Change in Value of Equity Awards
($)		Pension Service Cost
($)		PEO CAP (a-b-c+d+e)
($)
20226,251,475-4,000,052—748,854428,6033,428,880
20218,092,225-3,500,068-1,444,37218,717,572341,39922,206,756
20206,793,749-3,300,025-1,448,8126,534,626296,2658,875,803
Year2020
($)		2021
($)		2022
($)
SCT Total Compensation6,793,7498,092,2256,251,475
Less: Stock Award Values Reported in SCT for Covered Year-3,300,025-3,500,068-4,000,052
Plus: Fair Value of Stock Granted in Covered Year5,297,0376,617,0063,909,144
Change in Fair Value of Outstanding Unvested Stock Awards from Prior Years1,047,2255,858,498-2,888,558
Change in Fair Value of Outstanding Unvested Stock Awards from Prior Years that Vested in Covered Year190,3646,242,068-271,732
Less: Change in Value of Pension Benefits in Covered Year-1,448,812-1,444,372—
Plus: Pension Service Cost for Covered Year296,265341,399428,603
Compensation Actually Paid8,875,80322,206,7563,428,880
    
Non-PEO NEO Average Total Compensation Amount $ 1,867,745 2,288,230 1,975,066
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,166,105 5,171,829 2,399,933
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] Amounts deducted from the Summary Compensation Table (“SCT”) total to calculate Compensation Actually Paid (“CAP”) to the PEO and the Non-PEO NEOs, respectively, for the years 2022, 2021 and 2020 are set forth in the tables below. The dollar amount of CAP is determined under SEC rules and does not reflect the actual amount of compensation earned by or paid to our PEO, or our Non-PEO NEOs as a group, for the applicable year.
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YearSummary Compensation Table Total
($)		Summary Compensation
Table Value of Equity Awards
($)		Summary Compensation Table Change in Pension Value
($)		Change in Value of Equity Awards
($)		Pension Service Cost
($)		PEO CAP (a-b-c+d+e)
($)
20221,867,745-950,053—180,12668,2871,166,105
20212,288,230-787,552-320,0893,914,66276,5785,171,829
20201,975,066-775,016-345,9791,473,63872,2242,399,933
Year2020
($)		2021
($)		2022
($)
SCT Total Compensation1,975,0662,288,2301,867,745
Less: Stock Award Values Reported in SCT for Covered Year-775,016-787,552-950,053
Plus: Fair Value of Stock Granted in Covered Year1,246,0021,484,634921,700
Change in Fair Value of Outstanding Unvested Stock Awards from Prior Years164,7041,330,225-682,305
Change in Fair Value of Outstanding Unvested Stock Awards from Prior Years that Vested in Covered Year62,9321,099,803-59,269
Less: Change in Value of Pension Benefits in Covered Year-345,979-320,089—
Plus: Pension Service Cost for Covered Year72,22476,57868,287
Compensation Actually Paid2,399,9335,171,8291,166,105
    
Compensation Actually Paid vs. Total Shareholder Return [Text Block]
The Company’s TSR has exceeded the peer group TSR over the prior three-year period. The CAP of the Company's PEO and Non-PEO NEOs, as a group, was directionally aligned with the Company's TSR over the three-year period. The 2021 CAP figures reflect significant stock price appreciation during that year together with above-target achievement of the Company's short and long-term incentive program targets.
2748779084602
    
Compensation Actually Paid vs. Net Income [Text Block]
Pay vs. Performance: Net Income and Adjusted EBITDA
2748779084618
    
Compensation Actually Paid vs. Company Selected Measure [Text Block]
Pay vs. Performance: Net Income and Adjusted EBITDA
2748779084618
    
Total Shareholder Return Vs Peer Group [Text Block]
The Company’s TSR has exceeded the peer group TSR over the prior three-year period. The CAP of the Company's PEO and Non-PEO NEOs, as a group, was directionally aligned with the Company's TSR over the three-year period. The 2021 CAP figures reflect significant stock price appreciation during that year together with above-target achievement of the Company's short and long-term incentive program targets.
2748779084602
    
Tabular List [Table Text Block]
Financial Metric
Rationale
Adjusted EBITDA
Measures Company's profitability
Operating Income
Measures how profitably management operated the Company over longer time period and is distinct from the profitability metric used in cash incentive plan
ROIC
Measures the efficiency of the Company's deployment of capital
    
Total Shareholder Return Amount $ 137.18 168.75 127.18
Peer Group Total Shareholder Return Amount 103.89 147.06 120.19
Net Income (Loss) $ 199,278,000 $ 178,873,000 $ 96,006,000
Company Selected Measure Amount 338,408,000 328,337,000 233,184,000
PEO Name David Maher    
Additional 402(v) Disclosure [Text Block] As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Company. For further information concerning the Company’s variable pay-for-performance philosophy and how the Company aligns executive compensation with the Company’s performance, refer to “Executive Compensation – Compensation Discussion and Analysis.” The Compensation Committee did not consider the Compensation Actually Paid measure below in making its compensation decisions for any of the years shown below.Reflects net income of the Company (in thousands) reported in our Annual Report on Form 10-K for the applicable fiscal year.    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted EBITDA    
Non-GAAP Measure Description [Text Block] Reflects the Company’s Adjusted EBITDA (in thousands), which is our company selected measure (“CSM”) as we believe it represents the most important financial performance measure used to link CAP to our NEOs to company performance. Please see “Compensation Discussion and Analysis-Components of our Executive Compensation Program-Annual Cash Incentives” for information on how the Company determines Adjusted EBITDA.    
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Operating Income    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name ROIC    
PEO [Member] | Equity Awards Reported Value [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (4,000,052) $ (3,500,068) $ (3,300,025)
PEO [Member] | Change in Pension Value [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 (1,444,372) (1,448,812)
PEO [Member] | Equity Award Adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 748,854 18,717,572 6,534,626
PEO [Member] | Pension Adjustments, Service Cost [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 428,603 341,399 296,265
PEO [Member] | Equity Awards Granted During the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount, Equity Awards 3,909,144 6,617,006 5,297,037
PEO [Member] | Equity Awards Granted in Prior Years, Unvested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount, Equity Awards (2,888,558) 5,858,498 1,047,225
PEO [Member] | Equity Awards Granted in Prior Years, Vested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount, Equity Awards (271,732) 6,242,068 190,364
Non-PEO NEO [Member] | Equity Awards Reported Value [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (950,053) (787,552) (775,016)
Non-PEO NEO [Member] | Change in Pension Value [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 (320,089) (345,979)
Non-PEO NEO [Member] | Equity Award Adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 180,126 3,914,662 1,473,638
Non-PEO NEO [Member] | Pension Adjustments, Service Cost [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 68,287 76,578 72,224
Non-PEO NEO [Member] | Equity Awards Granted During the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount, Equity Awards 921,700 1,484,634 1,246,002
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Unvested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount, Equity Awards (682,305) 1,330,225 164,704
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Vested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount, Equity Awards $ (59,269) $ 1,099,803 $ 62,932