relating to assumptions made in the valuation for current year awards reflected in these columns, see Note 17 to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended December 30, 2022.
(3)
The amounts reported for fiscal year 2022 represent incentive cash awards paid to Mr. Olafsson, Mr. Reasons and Ms. Nielsen under our 2022 AIP. The amounts reported for fiscal year 2022 represent incentive cash awards paid to Mr. Tyndall and Mr. Welch under our 2022 KEIP. For information regarding the calculation of these awards, see the CD&A. For Mr. Welch, the amount reported for fiscal year 2022 includes a cash-based long-term incentive payment of $62,500 that vested in April 2022.
(4)
The amounts reported represent the aggregate dollar amount for each NEO for employer contributions to the Retirement Savings Plan, employer credits to the Supplemental Savings Plan, tax reimbursements, director fees, legal fee reimbursements related to employment agreements, financial planning services, long term disability insurance payments, the value of company recognition program rewards and travel expenses. The amounts for 2022 for Mr. Trudeau, Dr. Romano and Mr. O’Neill include severance payments in connection to the termination of their respective employments. The table below provides further detail on the amounts included in the All Other Compensation column of the Summary Compensation Table for fiscal 2022.
(5)
Mr. Olafsson joined the Company as its President, Chief Executive Officer and a director effective June 25, 2022.
(6)
Mr. Tyndall was appointed as our Executive Vice President, Chief Legal Officer and Corporate Secretary on August 17, 2022. Mr. Tyndall is an NEO for the first time in 2022.
(7)
Mr. Welch was appointed as a member of our Executive Committee on August 17, 2022. Mr. Welch is an NEO for the first time in 2022. The amount reported in the Salary column in 2022 for Mr. Welch includes a stipend in the amount of $46,154 paid for additional responsibilities undertaken during the Chapter 11 cases and ceased upon Emergence.
(8)
Ms. Nielsen joined the Company as its Executive Vice President and Chief Transformation Officer on August 17, 2022. Ms. Nielsen is an NEO for the first time in 2022.
(9)
Mr. Trudeau resigned from his roles as President, Chief Executive Officer and Director on June 15, 2022, in connection with our emergence from Chapter 11 proceedings.
(10)
Dr. Romano and Mr. O’Neill departed the Executive Committee and Mallinckrodt effective December 1, 2022 and September 16, 2022, respectively.
ALL OTHER COMPENSATION IN 2022
|
Name
|
|
|
Contributions
to Retirement
Savings Plan
($)
|
|
|
Credits to
Supplemental
Savings Plan
($)
|
|
|
Tax
Reimbursement
Payments
($)(1)
|
|
|
Director
Fees
($)(2)
|
|
|
Payments
in Regard to
Termination
($)
|
|
|
Other
($)(3)
|
|
|
Sigurdur Olafsson
|
|
|
|
|
10,353 |
|
|
|
|
|
15,969 |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
28,020 |
|
|
|
Bryan Reasons
|
|
|
|
|
19,400 |
|
|
|
|
|
76,979 |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
18,070 |
|
|
|
Mark Tyndall
|
|
|
|
|
19,400 |
|
|
|
|
|
50,836 |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
17,072 |
|
|
|
Stephen Welch
|
|
|
|
|
19,400 |
|
|
|
|
|
40,216 |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
16,826 |
|
|
|
Henriette Nielsen
|
|
|
|
|
11,356 |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
17,948 |
|
|
|
Mark C. Trudeau
|
|
|
|
|
19,400 |
|
|
|
|
|
214,151 |
|
|
|
|
|
248,417 |
|
|
|
|
|
— |
|
|
|
|
|
5,648,523 |
|
|
|
|
|
10,928 |
|
|
|
Steven Romano
|
|
|
|
|
18,300 |
|
|
|
|
|
86,789 |
|
|
|
|
|
— |
|
|
|
|
|
339,965 |
|
|
|
|
|
2,024,870 |
|
|
|
|
|
25,596 |
|
|
|
Hugh M. O’Neill
|
|
|
|
|
19,400 |
|
|
|
|
|
81,977 |
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
1,930,551 |
|
|
|
|
|
— |
|
|
(1)
With respect to Mr. Trudeau, amounts shown represent payments under our Tax Equalization Policy related to his service on the Board of Directors. Following the filing of all tax returns, a tax equalization calculation will be prepared to determine the ultimate amount owed either to the Company or Mr. Trudeau under our Tax Equalization Policy.
(2)
The Company appointed Dr. Romano as its representative on the Board of Directors of Silence Therapeutics plc. Dr. Romano received director fees of £37,000 in cash and an option award with an aggregate grant date fair value of £244,000 from Silence Therapeutics plc for this service in 2022. For purposes of this table, the exchange rate as of December 31, 2022 of one British Pound to 1.2098 U.S. dollars was used.
(3)
Includes legal fee reimbursements related to the NEOs’ employment agreements in the amounts of $25,000 for Mr. Olafsson, $10,422 for Mr. Reasons, $12,024 for Mr. Tyndall, $11,832 for Mr. Welch and $10,800 for Ms. Nielsen. For Ms. Nielsen, also includes $4,837 related to temporary lodging at hotels and travel expenses. For Mr. Trudeau and Dr. Romano, includes $17,379 and $7,305, respectively, for financial planning services. Also includes amounts related to long term disability insurance payments in the following amounts: $3,020 for Mr. Olafsson, $7,648 for Mr. Reasons, $5,048 for Mr. Tyndall, $4,994 for Mr. Welch, $2,311 for Ms. Nielsen, $3,623 for Mr. Trudeau and $8,217 for Dr. Romano.
Grants of Plan-Based Awards
The following table provides information concerning the cash incentive awards and equity incentive awards granted to each of our NEOs in fiscal 2022.