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    Ajay Kochhar

    Chief Executive Officer at LICY
    Board
    Since August 10, 2021
    Age
    32 years
    Education
    Holds a Bachelor of Applied Science (BASc) in Chemical Engineering from the University of Toronto.
    Tenure
    Joined the company on March 4, 2017 and later became Co-Founder, President, and Chief Executive Officer on August 10, 2021.

    Also at LICY

    CD
    Carl DeLuca
    General Counsel and Corporate Secretary
    CB
    Chris Biederman
    Chief Technology Officer
    CB
    Christine Barwell
    Chief Human Resources Officer

    About

    Ajay Kochhar is the Co-Founder, President, and Chief Executive Officer of Li-Cycle Holdings Corp, a company at the forefront of sustainable battery recycling.

    He graduated from the University of Toronto with a Bachelor of Applied Science (BASc) in Chemical Engineering, establishing a strong academic foundation for his later professional endeavors.

    Prior to assuming his current leadership role on August 10, 2021, he joined Li-Cycle on March 4, 2017 and built a robust career through progressive roles in technology and project development at Hatch’s industrial cleantech and advisory practices.

    $LICY Performance Under Ajay Kochhar

    Past Roles

    OrganizationRoleDate RangeDetails
    Hatch Various Roles N/A Progressive roles in industrial cleantech and advisory practices, which provided extensive technology and project development experience

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$592,329 Annual (2023) Base salary for 2023.
    Stock Awards$843,750 Annual (2023 grants) Stock awards granted for 2023.
    Option Awards$843,750 Annual (2023 grants) Option awards granted for 2023.
    Non-Equity Incentive Plan Compensation$0 N/A No payments under the 2023 STIP due to the company’s financial position.
    All Other Compensation$43,430 Annual (2023) Includes executive medical expenses, employer retirement contributions, EV allowance, and on-site parking.

    Performance Compensation

    Data from  FY 2023

    STIP

    Performance PillarWeight (%)MetricGoalThresholdTargetMaximum
    Customers40% Spoke AvailabilityGain preferred partner status65% (50% payout) 75% (100% payout) 80% (150% payout)
    Employees20% TRIFR (Health and Safety)Achieve zero harm<3.0 <2.7 <2.4
    Communities15% Days of interruptionNo interruptions due to complaints<9 days ≤5 days 0 days
    Shareholders25% Cash Management (Total SG&A)Deliver strong shareholder returns>110% of Budget On Budget <95% of Budget

    Evaluation Period: Transition period from November 1, 2022 to December 31, 2022 and fiscal year 2023.

    Vesting Schedule: Not applicable as the STIP is a cash incentive plan.

    Actual Results/Payouts: No payments were made under the STIP for 2023 due to financial considerations.

    LTIP

    ComponentDetailValue
    Target LevelTarget equity award value250% of base salary
    MixComposition of awards50% options, 50% RSUs
    Grant DateAward grant dateJanuary 27, 2023
    Grant Date Fair ValueCombined fair value of awards$1,687,500
    Grant Date Stock PriceExercise/Base price for options$5.77 per share
    Vesting ScheduleVesting detailsVesting ratably over 3 years, subject to continued employment with potential acceleration
    Number of AwardsAwards granted146,230 RSUs, 253,028 options

    Additional Note: No specific performance metrics or targets beyond the above details were provided for LTIP awards.