Benefits are payable as an annuity or in a single lump sum payment and are actuarially adjusted to reflect payment in a
form other than a life annuity. Life annuity benefits are unreduced if paid on account of normal retirement or completion of 40 years of vesting service (as defined in the Retirement Plan). Normal retirement age is when a participant
attains age 65 and, in general, has completed 5 years of service. Benefits are reduced for early commencement by multiplying the accrued benefit by an early retirement factor.
Participants vest in the Retirement Plan after 5 years of vesting service.
Nonqualified Deferred Compensation for Fiscal
in Last FY ($)
in Last FY ($)(1)
at Last FYE ($)
The preceding table provides information on the non-qualified deferred compensation
of the named executive officers in 2016. Participants in the RPM International Inc. Deferred Compensation Plan (Deferred Compensation Plan), including the named executive officers, may defer up to 90% of their base salary and non-equity incentive plan compensation.
A participants deferrals and any matching contributions are credited to a bookkeeping
account under the Deferred Compensation Plan. A participant may direct that his or her account be deemed to be invested in Company stock or in mutual funds that are selected by the administrative committee of the Deferred Compensation Plan. The
participants account is credited with phantom earnings or losses based on the investment performance of the deemed investment. A participant may change the investment funds used to calculate the investment performance of his or her account on
a daily basis.
Deferrals of base salary, annual bonus amounts and deferred equity grants, earnings on such amounts and stock dividends credited to a
participants account are 100% vested.
Distribution from a participants account is payable in a lump sum at a specified time, or upon retirement, death,
termination of employment or disability prior to retirement. In the case of retirement, a participant may also elect annual installments for up to 10 years. Upon approval of the Compensation Committee, amounts can also be distributed as a
result of an unforeseeable financial emergency. Earlier withdrawal of deferred compensation earned and vested as of
December 31, 2004 is available but is subject to a 10% penalty.
The following table reflects the amount of compensation payable to each of the named executive officers (a) in the event of
termination of the executives employment due to retirement, death, disability, voluntary termination, termination for cause, involuntary termination without cause and not within two years of a change in control and involuntary termination
without cause or resignation with good reason within two years of a change in control, and (b) upon a change in control. The amounts shown assume that the termination was effective as of May 31, 2017 (the last business day of fiscal 2017).
Consequently, the table reflects amounts earned as of May 31, 2017 (the last business day of fiscal 2017) and includes estimates of amounts that would be paid to the named executive officer upon the occurrence of the event. The estimates
are considered forward-looking information that falls within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Due to the number of factors that affect the nature and amount of any benefits provided upon the events
discussed below, any actual amounts paid or distributed may differ materially. Factors that could affect these amounts include the timing during the year of such event and the amount of future non-equity
incentive compensation. Please see Forward-Looking Statements.
RPM International Inc. (NYSE: RPM) owns subsidiaries that are world leaders in coatings, sealants, building materials and related services. From homes to precious landmarks worldwide, their brands are trusted by consumers and professionals alike to protect, improve and beautify. Among its leading consumer brands are Rust-Oleum, DAP and Zinsser. Learn more about RPM brands >>
RPM is a compelling long-term investment.
The percent by which RPM's 10-year total return has bested the S&P 500. More reasons >>
Get the latest news and financial information on why RPM is a good investment Download investor kit >>