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SEC Filings

DEF 14A
ARCH COAL INC filed this Form DEF 14A on 03/18/2019
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      Since launching the program in May 2017, we have repurchased approximately 29% of the Company's outstanding shares for a total of $584 million and paid quarterly dividends totaling $55.6 million.

    Further strengthened our financial position and balance sheet:

    Ended the year with cash and short-term investments of $427.7 million and debt of $318.0 million.

    Refinanced the Company's senior secured term loan for a third time in the past two years, resulting in a $21 million, or more than 50%, aggregate reduction in annual interest expense over that time frame.

    Amended our trade accounts receivable securitization facility and inventory-based revolving credit facility, resulting in increased availability, lower costs and extended maturity dates.

    Reduced collateral requirements, resulting in the return of $20.0 million of cash and other collateral held by counterparties during 2018 and bringing the two-year total to over $120 million.

    Continued to deliver industry-leading safety and environmental performance:

    Our safety incident rate for 2018 was nearly three times better than the national coal industry average.

    We won top safety awards in each of the four states in which we operate.

    We were awarded a national Sentinels of Safety award for the seventh time in the past eight years.

    In the area of environmental stewardship, we continued to deliver near-perfect annual performance with respect to air and water quality compliance.

    We were recognized for the quality of our reclamation efforts, having won 22 federal, state and national conservation group awards in the past three years, including six in 2018.

2018 Key Compensation Decisions and Actions

        Our key compensation decisions and actions relating to our NEOs' compensation for 2018 included the following:

    Base salary amounts.  No base salary increases were made for NEOs in 2018. Our NEOs have not received base salary increases since 2015.

    2018 annual incentive compensation plan ("ICP") payouts.  Our 2018 budget and strategic objectives, as well as our core operating values of safety and environmental stewardship, were considered when establishing our 2018 incentive compensation plan design. For 2018, the Board added a Free Cash Flow metric while maintaining the previous performance measures in place. The weightings of the plan metrics were set as follows: Adjusted EBITDA (50%), Free Cash Flow (20%), safety incident rate (15%) and environmental compliance (15%). The exceptional financial and environmental compliance achievements by the Company this year resulted in above-target performance for each of the Adjusted EBITDA, Free Cash Flow and environmental compliance metrics and a payout of 163% of target for our NEOs.

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