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Object ID: 202213199349327091 - Rendered 2024-05-03
TIN: 36-1892375
Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
Attach to Form 990.
Go to
www.irs.gov/Form990
for instructions and the latest information.
OMB No. 1545-0047
20
21
Open to Public Inspection
Name of the organization
UNDERWRITERS LABORATORIES INC
Employer identification number
36-1892375
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
First-class or charter travel
Housing allowance or residence for personal use
Travel for companions
Payments for business use of personal residence
Tax idemnification and gross-up payments
Health or social club dues or initiation fees
Discretionary spending account
Personal services (e.g., maid, chauffeur, chef)
b
If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain
.....
1b
Yes
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a?
....
2
Yes
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
Compensation committee
Written employment contract
Independent compensation consultant
Compensation survey or study
Form 990 of other organizations
Approval by the board or compensation committee
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment?
.............
4a
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan?
.........
4b
Yes
c
Participate in, or receive payment from, an equity-based compensation arrangement?
.........
4c
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization?
....................
5a
No
b
Any related organization?
.......................
5b
No
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization?
..................
6a
No
b
Any related organization?
......................
6b
No
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III
............
7
Yes
8
Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III
..........................
8
No
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)?
.........................
9
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2021
Schedule J (Form 990) 2021
Page
2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees.
Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note.
The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A)
Name and Title
(B)
Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC
(C)
Retirement and other deferred compensation
(D)
Nontaxable
benefits
(E)
Total of columns
(B)(i)-(D)
(F)
Compensation in column (B) reported as deferred on prior Form 990
(i)
Base
compensation
(ii)
Bonus & incentive
compensation
(iii)
Other
reportable compensation
1
C Gizzi
VP
(i)
(ii)
222,681
-------------
74,925
-------------
7,137
-------------
19,500
-------------
26,193
-------------
350,436
-------------
-------------
2
J Dollive
Trustee
(i)
(ii)
17,500
-------------
182,500
-------------
-------------
-------------
-------------
17,500
-------------
182,500
-------------
3
R Owen
Trustee
(i)
(ii)
169,460
-------------
-------------
-------------
-------------
-------------
169,460
-------------
-------------
4
D Paulison
Trustee
(i)
(ii)
166,131
-------------
-------------
-------------
-------------
-------------
166,131
-------------
-------------
5
J Shannon
Trustee
(i)
(ii)
2,500
-------------
252,500
-------------
-------------
-------------
-------------
2,500
-------------
252,500
-------------
6
G Williams
Trustee
(i)
(ii)
176,335
-------------
-------------
-------------
-------------
-------------
176,335
-------------
-------------
7
K Williams
CEO (Former)
(i)
(ii)
-------------
-------------
2,515,600
-------------
-------------
18,415,074
-------------
-------------
20,930,674
-------------
8
S Hewson
SVP
(i)
(ii)
-------------
106,487
-------------
395,900
-------------
227,914
-------------
169,593
-------------
10,463
-------------
910,357
-------------
9
K Szczech
SVP & TREASURER
(i)
(ii)
-------------
243,579
-------------
183,035
-------------
13,746
-------------
549,171
-------------
27,343
-------------
1,016,874
-------------
10
S Jesudas
EVP & CCO
(i)
(ii)
-------------
525,821
-------------
692,030
-------------
43,657
-------------
4,096,809
-------------
-------------
5,358,317
-------------
11
G Schjotz
EVP
(i)
(ii)
-------------
166,819
-------------
-------------
80,782
-------------
2,454,653
-------------
16,107
-------------
2,718,361
-------------
12
J Fischer
EVP
(i)
(ii)
-------------
81,070
-------------
269,406
-------------
18,787
-------------
1,106,083
-------------
255,130
-------------
1,730,476
-------------
13
A Groom
SVP (Former)
(i)
(ii)
-------------
-------------
304,724
-------------
-------------
1,701,973
-------------
-------------
2,006,697
-------------
14
J Chapin
VP
(i)
(ii)
142,602
-------------
127,463
-------------
21,696
-------------
-------------
10,083
-------------
301,844
-------------
-------------
15
B Guthrie
VP
(i)
(ii)
-------------
242,104
-------------
158,172
-------------
7,040
-------------
64,282
-------------
10,095
-------------
481,693
-------------
16
T Brady
President & CEO, Trustee
(i)
(ii)
603,944
-------------
840,000
-------------
29,091
-------------
40,700
-------------
2,671,230
28,922
-------------
1,542,657
-------------
2,671,230
-------------
17
S Webster
SVP
(i)
(ii)
-------------
302,414
-------------
215,733
-------------
14,233
-------------
665,419
-------------
30,286
-------------
1,228,085
-------------
18
W Zhou
EVP
(i)
(ii)
-------------
540,242
-------------
861,404
-------------
20,322
-------------
3,951,016
-------------
35,958
-------------
5,408,942
-------------
19
M Black
VP
(i)
(ii)
349,680
-------------
154,904
-------------
8,685
-------------
26,000
-------------
18,018
-------------
557,287
-------------
-------------
20
D Wroth - through 112021
Director Data Science
(i)
(ii)
199,504
-------------
18,299
78,971
-------------
1,405
-------------
117
10,360
-------------
949
24,175
-------------
2,077
314,415
-------------
21,442
-------------
21
P Piqueira
VP (through 11/2021)
(i)
(ii)
207,645
-------------
19,028
99,958
-------------
6,685
-------------
609
19,500
-------------
1,309
-------------
119
335,097
-------------
19,756
-------------
22
C Correia
SVP
(i)
(ii)
-------------
296,965
-------------
260,722
-------------
17,484
-------------
1,985,788
-------------
43,623
-------------
2,604,582
-------------
23
S Kerber
VP
(i)
(ii)
236,804
-------------
133,024
-------------
7,452
-------------
19,500
-------------
37,297
-------------
434,077
-------------
-------------
24
R Robinson
EVP & CFO
(i)
(ii)
-------------
551,808
-------------
944,187
-------------
23,372
-------------
2,224,529
-------------
39,392
-------------
3,783,288
-------------
25
Z Susice
DIRECTOR STRATEGY & MARKETING
(i)
(ii)
199,152
-------------
72,967
-------------
1,356
-------------
10,032
-------------
2,619
-------------
286,126
-------------
-------------
26
P Khoury
Trustee
(i)
(ii)
165,000
-------------
-------------
-------------
-------------
-------------
165,000
-------------
-------------
27
D Pines
Trustee
(i)
(ii)
171,513
-------------
-------------
-------------
-------------
-------------
171,513
-------------
-------------
28
J McLaughlin
EVP & CLO
(i)
(ii)
-------------
420,000
-------------
620,872
-------------
18,444
-------------
201,286
-------------
-------------
1,260,602
-------------
29
S Bird - through 112021
Director Intl Standards
(i)
(ii)
185,160
-------------
16,979
75,174
-------------
1,975
-------------
181
9,024
-------------
1,351
12,826
-------------
1,113
284,159
-------------
19,624
-------------
30
D Madrzykowski
Director of Research
(i)
(ii)
223,534
-------------
76,440
-------------
1,380
-------------
9,787
-------------
1,122
-------------
312,263
-------------
-------------
31
E Toerstad
Trustee
(i)
(ii)
167,500
-------------
-------------
-------------
-------------
-------------
167,500
-------------
-------------
32
E West
VP & Assist Corp Secretary
(i)
(ii)
-------------
247,200
-------------
105,300
-------------
6,356
-------------
19,500
-------------
-------------
378,356
-------------
33
MSaltzman
CFO
(i)
(ii)
-------------
-------------
538,854
-------------
-------------
1,989,260
-------------
-------------
2,528,114
-------------
34
J Canfield
VP (as of 11/2021)
(i)
(ii)
189,289
-------------
15,866
70,700
-------------
9,634
-------------
1,011
26,000
-------------
20,963
-------------
4,835
316,586
-------------
21,712
-------------
35
C Cramer
SVP & CRO
(i)
(ii)
199,625
-------------
-------------
35,095
-------------
18,040
-------------
19,545
-------------
272,305
-------------
-------------
36
B Monks
VP
(i)
(ii)
291,893
-------------
132,488
-------------
210,211
7,994
-------------
26,000
-------------
592,352
24,870
-------------
483,245
-------------
802,563
-------------
37
T Rivelli
SVP, CLO
(i)
(ii)
-------------
244,775
-------------
130,369
-------------
25,400
-------------
45,784
-------------
13,348
-------------
459,676
-------------
38
J Jeevarajan
VP & EXECUTIVE DIRECTOR
(i)
(ii)
196,245
-------------
65,231
-------------
3,779
-------------
9,848
-------------
723
-------------
275,826
-------------
-------------
39
G Borlase- through 112021
Director Standards Programs
(i)
(ii)
183,979
-------------
16,879
75,338
-------------
264
-------------
24
6,564
-------------
618
31,863
-------------
2,788
298,008
-------------
20,309
-------------
Schedule J (Form 990) 2021
Schedule J (Form 990) 2021
Page
3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference
Explanation
Part I, Line 4 - Severance, Nonqualified, and Equity-Based Payments
Severance Nonqualified Equity-Based Comp BRADY 0 14,700 0 ROBINSON 0 13,312 0 ZHOU 0 8,864 0
Part I, Line 7 - Non-Fixed Payments
THE COMPANY HAS AN ALL EMPLOYEE INCENTIVE PLAN. THE PLAN IS BASED ON A COMBINATION OF THE COMPANY'S FINANCIAL PERFORMANCE MEASURES, AND DISCRETIONARY INDIVIDUAL ASSESSMENT, AS APPROVED BY THE COMPENSATION COMMITTEE.
Part III - Other Additional Information
THE FOLLOWING OFFICERS AND FORMER OFFICERS WERE COMPENSATED FROM UNDERWRITERS LABORATORIES INC.'S RELATED ORGANIZATION, UL LLC, OR A RELATED FOREIGN AFFILIATE: GROOM, SALTZMAN, SZCZECH, WEBSTER, WILLIAMS, ZHOU, CORREIA, JESUDAS, SCHJOTZ, FISCHER, HEWSON, MCLAUGHLIN, AND ROBINSON. THE RELATED ORGANIZATION ALSO PROVIDED SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS TO BRADY (AS A FORMER OFFICER OF THE RELATED ORG) AND CURRENT OFFICERS ROBINSON, AND ZHOU. IN 2021 THE RELATED ORGANIZATION CONTRIBUTED $14,700, $13,312, AND $8,864, RESPECTIVELY, TO THE PLAN.
Part I, Line 3 - Compensation of Organization's CEO/Executive Director
THE PROCESS OF DETERMINING COMPENSATION FOR THE CEO, ALL OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION IS PERFORMED ANNUALLY. AN INDEPENDENT COMPENSATION CONSULTANT COMPLETES AN ANALYSIS OF COMPARABLE AND COMPETITIVE MARKET DATA WITH DATA ASSISTANCE FROM UNDERWRITERS LABORATORIES INC.'S HR/COMPENSATION GROUP. IT COVERS TOP MANAGEMENT OFFICIALS OF THE ORGANIZATION, INCLUDING ELECTED OFFICERS THROUGH VICE PRESIDENTS. THE ANALYSIS IS REVIEWED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WHO PROVIDES FINAL APPROVAL OF ALL COMPENSATION ARRANGEMENTS.THE CEO AND SVP OF HR ARE PRESENT IN ALL COMPENSATION COMMITTEE MEETINGS BUT RECUSE THEMSELVES FOR DISCUSSION OF THEIR COMPENSATION. IN ADDITION, THE ORGANIZATION FOLLOWS THE PROCEDURES UNDER TREASURY REGULATION SECTION 53.4958-6 TO MEET THE REBUTTABLE PRESUMPTION OF REASONABLNESS FOR ALL TRANSACTIONS WITH DISQUALIFIED PERSONS. A WRITTEN EMPLOYMENT CONTRACT IS ESTABLISHED FOR ALL OFFICERS.
Part I, Line 1a - Travel for Companions
TERRY BRADY, PRESIDENT & CEO, RECEIVED SPOUSAL TRAVEL FOR HIS SPOUSE IN 2021. THE BENEFIT WAS INCLUDED IN HIS 2021 TAXABLE COMPENSATION.
Schedule J (Form 990) 2021
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