Related Party Transactions |
9 Months Ended |
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Sep. 30, 2023 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions Certain relatives of John Morgan Hodges (an Executive Vice President of the Company) and Elliot Kahler (General Counsel of the Company), each of whom is an executive officer, are related parties. Mr. Hodges has been an executive officer of the Company since it went public in June 2021 and all of his compensation was approved by the Compensation Committee. Mr. Kahler became an executive officer in February 2023.
Seth Powell is a Project Manager in the Company’s Estimating Department and the son-in-law of Mr. Hodges. Mr. Powell is expected to earn approximately $0.2 in total compensation for the 2023 fiscal year, consisting of base salary, commission, and share-based compensation that is subject to a three year vesting. Mr. Powell was paid compensation of $0.17, $0.12, and $0.12 in fiscal years 2022, 2021 and 2020, respectively, consisting of base salary, bonus, and commissions. Mr. Powell also participates in the Company’s benefit programs available to all other employees in similar positions.
Mr. Kahler is expected to earn approximately $0.7 in total compensation for the 2023 fiscal year, consisting of a base salary, target bonus, and share-based compensation that is subject to a three year vesting period. Mr. Kahler also participates in the Company’s benefit programs available to all other employees in similar positions.
Megan Kahler is the Chief Financial Officer of Janus International Group, LLC (“Janus Core”), our wholly owned subsidiary, and the spouse of Mr. Kahler. Ms. Kahler is expected to earn $0.4 in total compensation for the 2023 fiscal year, consisting of a base salary, target bonus, and share-based compensation that is subject to a three year vesting period. Ms. Kahler also participates in the Company’s benefit programs available to all other employees in similar positions.
The Audit Committee of the Company’s board of directors approved the above related party transactions.
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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