v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

Pay Versus Performance Disclosure

Pay Versus Performance

In accordance with SEC rules, we provide the following disclosure regarding executive compensation for our principal executive officer (“PEO”) and non-PEO named executive officers (the “Other NEOs”) and certain Company performance for each of the fiscal years listed below. The Compensation and Talent Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown.

 

 

 

 

 

 

Value of Initial Fixed
$100 Investment
based on:4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year

Summary
Compensation
Table Total for
PEO1 
($)

Compensation
Actually Paid
to PEO1,2,3
($)

Average
Summary
Compensation
Table Total for
Other NEOs
($)

Average
Compensation
Actually Paid
to Other
NEOs1,2,3 
($)

Total
Shareholder
Return
(“TSR”)
($)

Peer
Group
TSR
($)

Net
Income
($ Millions)

Adjusted Diluted
EPS5
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

4,758,899

 

 

 

 

2,566,610

 

 

 

 

1,001,477

 

 

 

 

372,549

 

 

 

127.35

 

 

 

236.57

 

 

 

63.64

 

 

 

 

2.14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

4,188,526

 

 

 

 

4,844,807

 

 

 

 

1,132,995

 

 

 

 

1,272,861

 

 

 

179.76

 

 

 

199.61

 

 

 

58.1

 

 

 

 

2.17

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

3,199,406

 

 

 

 

3,252,016

 

 

 

 

780,611

 

 

 

 

545,509

 

 

 

148.63

 

 

 

151.67

 

 

 

60.5

 

 

 

 

2.22

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

4,176,016

 

 

 

 

6,735,773

 

 

 

 

1,027,985

 

 

 

 

1,482,635

 

 

 

133.47

 

 

 

122.19

 

 

 

59.6

 

 

 

 

2.46

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

3,944,440

 

 

 

 

5,734,073

 

 

 

 

1,108,408

 

 

 

 

1,440,330

 

 

 

 

123.80

 

 

 

148.92

 

 

 

(41.9

)

 

 

 

1.93

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.
Kieran O’Sullivan was our PEO for each year presented. The individuals comprising the Other NEOs for each year presented are listed below.

 

2021

 

2022

 

2023

 

2024

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ashish Agrawal

 

Ashish Agrawal

 

Ashish Agrawal

 

Ashish Agrawal

 

Ashish Agrawal

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Scott D’Angelo

 

Scott D’Angelo

 

Scott D’Angelo

 

Scott D’Angelo

 

Pratik Trivedi

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Martin Baumeister

 

Martin Baumeister

 

Martin Baumeister

 

Mark Pacioni

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Michael Murray

 

Michael Murray

 

Pratik Trivedi

 

Scott D’Angelo

 

 

 

 

 

 

 

 

 

 

2.
The amounts shown for “Compensation Actually Paid” have been calculated in accordance with Item 402(v) of Regulation S-K and may not necessarily reflect compensation actually earned, realized, or received by the Company’s PEO and the Other NEOs. These amounts instead reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.
3.
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Other NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the amounts from the Stock Awards column set forth in the Summary Compensation Table. Please note that, while similar adjustment information was provided in the Company’s 2025 proxy statement for 2024, 2024 proxy statement for 2023, and 2023 proxy statement for 2021 and 2022, under applicable SEC guidance, repeating such adjustment information is not required in this Proxy Statement because it is not material to our stockholders’
understanding of the information reported in the Pay Versus Performance table above for 2025 or the relationship disclosures provided below.

 

Year

Summary Compensation
Table Total for PEO
($)

Exclusion of Stock Awards
for PEO
($)

Inclusion of Equity Values
for PEO
($)

Compensation Actually
Paid to PEO
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

4,758,899

 

 

 

 

(2,900,049

)

 

 

 

707,760

 

 

 

 

2,566,610

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year

 

Average Summary
Compensation Table Total
for Other NEOs
($)

 

Average Exclusion of
Stock Awards
for Other NEOs
($)

 

Average Inclusion of Equity
Values for Other NEOs
($)

 

Average Compensation 
Actually Paid to 
Other NEOs 
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

1,001,477

 

 

 

 

 

(509,672

)

 

 

 

(119,257)

 

 

 

 

372,549

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

 

Year

 

Year-End Fair
Value of Equity
Awards Granted
During Year That
Remained
Unvested as of
Last Day of Year
for PEO
($)

 

Change in Fair
Value from Last
Day of Prior Year to
Last Day of Year of
Unvested Equity
Awards for PEO
($)

 

Change in Fair
Value from Last
Day of Prior Year to
Vesting Date of
Unvested Equity
Awards that Vested
During Year for
PEO
($)

 

Fair Value at Last
Day of Prior Year of
Equity Awards
Forfeited During
Year for PEO
($)

 

Total - Inclusion of 
Equity Values for 
PEO 
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

2,542,497

 

 

 

 

 

(1,535,150

)

 

 

 

 

299,587

 

 

 

 

—

 

 

 

 

707,760

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year

 

Average
Year-End Fair
Value of
Equity
Awards
Granted
During Year
That
Remained
Unvested as
of Last Day
of Year for
Other
NEOs
($)

 

Average
Change in Fair
Value from
Last Day of
Prior Year to
Last Day of
Year of
Unvested
Equity Awards
for Other NEOs
($)

 

Average
Change in
Fair Value
from Last Day
of Prior Year
to Vesting
Date of
Unvested
Equity
Awards that
Vested
During Year
for Other
NEOs
($)

 

Average Fair
Value at Last
Day of Prior
Year of Equity
Awards
Forfeited
During Year
for Other
NEOs
($)

 

Total - Average Inclusion of
 Equity Values for Other NEOs 
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

332,888

 

 

 

 

 

(137,848

)

 

 

 

 

(39,296

)

 

 

 

 

(275,000

)

 

 

 

(119,257)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4.
The Peer Group TSR set forth in this table utilizes the Dow Jones Electrical Components & Equipment Industry Group (“DJUSEC”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2025. The comparison assumes $100 was invested for the period starting December 31, 2020, through the end of the listed year in the Company and in the DJUSEC, respectively. Historical stock performance is not necessarily indicative of future stock performance.
5.
We determined adjusted fully diluted net earnings per share (“Adjusted Diluted EPS”) to be the most important financial performance measure used to link Company performance for 2025 to Compensation Actually Paid to our PEO and Other NEOs in 2025. More information on Adjusted Diluted EPS can be found in the Compensation Discussion and Analysis section and in the Appendix to this Proxy Statement. This performance measure may not have been the most important financial performance measure for prior years, and we may determine a different financial performance measure to be the most important financial performance measure in future years.
       
Company Selected Measure Name Adjusted Diluted EPS        
Named Executive Officers, Footnote
1.
Kieran O’Sullivan was our PEO for each year presented. The individuals comprising the Other NEOs for each year presented are listed below.

 

2021

 

2022

 

2023

 

2024

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ashish Agrawal

 

Ashish Agrawal

 

Ashish Agrawal

 

Ashish Agrawal

 

Ashish Agrawal

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Scott D’Angelo

 

Scott D’Angelo

 

Scott D’Angelo

 

Scott D’Angelo

 

Pratik Trivedi

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Martin Baumeister

 

Martin Baumeister

 

Martin Baumeister

 

Mark Pacioni

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Michael Murray

 

Michael Murray

 

Pratik Trivedi

 

Scott D’Angelo

 

 

 

 

 

 

 

 

 
       
Peer Group Issuers, Footnote The Peer Group TSR set forth in this table utilizes the Dow Jones Electrical Components & Equipment Industry Group (“DJUSEC”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2025. The comparison assumes $100 was invested for the period starting December 31, 2020, through the end of the listed year in the Company and in the DJUSEC, respectively. Historical stock performance is not necessarily indicative of future stock performance.        
PEO Total Compensation Amount $ 4,758,899 $ 4,188,526 $ 3,199,406 $ 4,176,016 $ 3,944,440
PEO Actually Paid Compensation Amount $ 2,566,610 4,844,807 3,252,016 6,735,773 5,734,073
Adjustment To PEO Compensation, Footnote
3.
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Other NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the amounts from the Stock Awards column set forth in the Summary Compensation Table. Please note that, while similar adjustment information was provided in the Company’s 2025 proxy statement for 2024, 2024 proxy statement for 2023, and 2023 proxy statement for 2021 and 2022, under applicable SEC guidance, repeating such adjustment information is not required in this Proxy Statement because it is not material to our stockholders’
understanding of the information reported in the Pay Versus Performance table above for 2025 or the relationship disclosures provided below.

 

Year

Summary Compensation
Table Total for PEO
($)

Exclusion of Stock Awards
for PEO
($)

Inclusion of Equity Values
for PEO
($)

Compensation Actually
Paid to PEO
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

4,758,899

 

 

 

 

(2,900,049

)

 

 

 

707,760

 

 

 

 

2,566,610

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

Year

 

Year-End Fair
Value of Equity
Awards Granted
During Year That
Remained
Unvested as of
Last Day of Year
for PEO
($)

 

Change in Fair
Value from Last
Day of Prior Year to
Last Day of Year of
Unvested Equity
Awards for PEO
($)

 

Change in Fair
Value from Last
Day of Prior Year to
Vesting Date of
Unvested Equity
Awards that Vested
During Year for
PEO
($)

 

Fair Value at Last
Day of Prior Year of
Equity Awards
Forfeited During
Year for PEO
($)

 

Total - Inclusion of 
Equity Values for 
PEO 
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

2,542,497

 

 

 

 

 

(1,535,150

)

 

 

 

 

299,587

 

 

 

 

—

 

 

 

 

707,760

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
       
Non-PEO NEO Average Total Compensation Amount $ 1,001,477 1,132,995 780,611 1,027,985 1,108,408
Non-PEO NEO Average Compensation Actually Paid Amount $ 372,549 1,272,861 545,509 1,482,635 1,440,330
Adjustment to Non-PEO NEO Compensation Footnote
3.
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Other NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the amounts from the Stock Awards column set forth in the Summary Compensation Table. Please note that, while similar adjustment information was provided in the Company’s 2025 proxy statement for 2024, 2024 proxy statement for 2023, and 2023 proxy statement for 2021 and 2022, under applicable SEC guidance, repeating such adjustment information is not required in this Proxy Statement because it is not material to our stockholders’
understanding of the information reported in the Pay Versus Performance table above for 2025 or the relationship disclosures provided below.

Year

 

Average Summary
Compensation Table Total
for Other NEOs
($)

 

Average Exclusion of
Stock Awards
for Other NEOs
($)

 

Average Inclusion of Equity
Values for Other NEOs
($)

 

Average Compensation 
Actually Paid to 
Other NEOs 
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

1,001,477

 

 

 

 

 

(509,672

)

 

 

 

(119,257)

 

 

 

 

372,549

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:

Year

 

Average
Year-End Fair
Value of
Equity
Awards
Granted
During Year
That
Remained
Unvested as
of Last Day
of Year for
Other
NEOs
($)

 

Average
Change in Fair
Value from
Last Day of
Prior Year to
Last Day of
Year of
Unvested
Equity Awards
for Other NEOs
($)

 

Average
Change in
Fair Value
from Last Day
of Prior Year
to Vesting
Date of
Unvested
Equity
Awards that
Vested
During Year
for Other
NEOs
($)

 

Average Fair
Value at Last
Day of Prior
Year of Equity
Awards
Forfeited
During Year
for Other
NEOs
($)

 

Total - Average Inclusion of
 Equity Values for Other NEOs 
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

 

 

332,888

 

 

 

 

 

(137,848

)

 

 

 

 

(39,296

)

 

 

 

 

(275,000

)

 

 

 

(119,257)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
       
Compensation Actually Paid vs. Total Shareholder Return

Description of Relationship Between PEO and Average Other NEO Compensation Actually Paid and Company Total Shareholder Return (“TSR”), and Between Company TSR and Peer Group TSR

The following chart sets forth the relationship between (1) each of Compensation Actually Paid to our PEO and the average of Compensation Actually Paid to our Other NEOs, and (2) the Company’s cumulative TSR over the five most recently completed fiscal years and also compares our cumulative TSR over the five most recently completed fiscal years to that of the DJUSEC over the same period.

img211165894_181.gif

        
Compensation Actually Paid vs. Net Income

Description of Relationship Between PEO and Other NEO Compensation Actually Paid and Net Income1

The following chart sets forth the relationship between (1) each of Compensation Actually Paid to our PEO and the average of Compensation Actually Paid to our Other NEOs, and (2) our GAAP Net Income during the five most recently completed fiscal years.

img211165894_182.gif

1.
The Company’s negative Net Income in 2021 was driven by non-cash charges of $96.6 million, net of taxes relating to the termination of the Company’s U.S. pension plan.
       
Compensation Actually Paid vs. Company Selected Measure

Description of Relationship Between PEO and Other NEO Compensation Actually Paid and Adjusted Diluted EPS

The following chart sets forth the relationship between (1) each of Compensation Actually Paid to our PEO and the average of Compensation Actually Paid to our Other NEOs, and (2) our Adjusted Diluted EPS during the five most recently completed fiscal years.

img211165894_183.gif

        
Total Shareholder Return Vs Peer Group

Description of Relationship Between PEO and Average Other NEO Compensation Actually Paid and Company Total Shareholder Return (“TSR”), and Between Company TSR and Peer Group TSR

The following chart sets forth the relationship between (1) each of Compensation Actually Paid to our PEO and the average of Compensation Actually Paid to our Other NEOs, and (2) the Company’s cumulative TSR over the five most recently completed fiscal years and also compares our cumulative TSR over the five most recently completed fiscal years to that of the DJUSEC over the same period.

img211165894_181.gif

        
Tabular List, Table

Tabular List of Most Important Financial Performance Measures

The following table presents the financial performance measures that the Company considers to have been the most important in linking Compensation Actually Paid to our PEO and Other NEOs for 2024 to Company performance. The measures in this table are not ranked.

 

Adjusted Diluted EPS

CTS Annual Sales

CTS Three-Year Sales Growth

CTS Three-Year Operating Cash Flow

Adjusted Operating Earnings

Three-Year Relative Total Shareholder Return

Controllable Working Capital as a Percentage of Annual Sales
       
Total Shareholder Return Amount $ 127.35 179.76 148.63 133.47 123.8
Peer Group Total Shareholder Return Amount 236.57 199.61 151.67 122.19 148.92
Net Income (Loss) $ 63,640,000 $ 58,100,000 $ 60,500,000 $ 59,600,000 $ (41,900,000)
Company Selected Measure Amount 2.14 2.17 2.22 2.46 1.93
PEO Name Kieran O’Sullivan Kieran O’Sullivan Kieran O’Sullivan Kieran O’Sullivan Kieran O’Sullivan
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted Diluted EPS        
Measure:: 2          
Pay vs Performance Disclosure          
Name CTS Annual Sales        
Measure:: 3          
Pay vs Performance Disclosure          
Name CTS Three-Year Sales Growth        
Measure:: 4          
Pay vs Performance Disclosure          
Name CTS Three-Year Operating Cash Flow        
Measure:: 5          
Pay vs Performance Disclosure          
Name Adjusted Operating Earnings        
Measure:: 6          
Pay vs Performance Disclosure          
Name Three-Year Relative Total Shareholder Return        
Measure:: 7          
Pay vs Performance Disclosure          
Name Controllable Working Capital as a Percentage of Annual Sales        
PEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 707,760        
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,542,497        
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,535,150)        
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 299,587        
PEO | Exclusion Of Stock Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,900,049)        
Non-PEO NEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (119,257)        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 332,888        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (137,848)        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (39,296)        
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (275,000)        
Non-PEO NEO | Exclusion Of Stock Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (509,672)