Mon, Jun 24, 6:01 PM (119 days ago)
Novelis Inc. filed an Amendment No. 1 to its Form 10-K for the fiscal year ended March 31, 2024, to provide executive compensation details. The amendment includes disclosures on the compensation structure, base pay, short-term and long-term incentives, and performance metrics for named executive officers. Key points include: 1. **Compensation Structure**: Emphasis on performance-based pay, with significant portions of compensation tied to company and individual performance metrics. 2. **Performance Metrics**: Metrics include Adjusted EBITDA, Adjusted Free Cash Flow, and Global Safety. 3. **Executive Pay**: CEO Steven Fisher's total compensation was $7.29 million, with 88% performance-based. CFO Devinder Ahuja's total was $2.75 million. 4. **Incentives**: Long-term incentives include Hindalco stock appreciation rights and restricted stock units. 5. **Severance and CIC Plans**: Details on severance packages and change-in-control provisions for executives. The amendment ensures compliance and transparency in executive compensation reporting.