PERFORMANCE GRAPH
The following performance graph compares the performance of our common stock to The Nasdaq Stock Market (U.S.) Index (
Nasdaq
), Standard and Poors SmallCap 600 Index, and the Peer Group Index*
for the period from February 7, 2002 (the date of the Companys initial public offering) to December 31, 2005. The graph assumes an investment of $100 in each of our common stock, the Nasdaq, Standard and Poors SmallCap 600
Index and the Peer Group Index* on February 7, 2002, and also assumes reinvestment of all dividends. No cash dividend has been declared on our common stock.
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02/07/2002
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12/31/2002
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12/31/2003
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12/31/2004
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12/31/2005
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ManTech Intl Corp.
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$
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100
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$
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105.88
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$
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138.54
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$
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131.81
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$
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154.69
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S & P SMALLCAP 600
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$
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100
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$
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84.64
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$
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117.48
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$
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144.09
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$
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155.16
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NASDAQ US
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$
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100
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$
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68.64
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$
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103.65
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$
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113.14
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$
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115.54
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Peer Group
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$
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100
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$
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109.91
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$
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158.34
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$
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209.33
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$
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208.55
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*
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The Peer Group Index for 2005 consists of Anteon International Corporation, CACI International Inc., SI International, Inc., SRA International Inc., and MTC Technologies, Inc.
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20
Executive Officers
We have set forth below the names and ages of our current executive officers and their respective positions with us. Biographical information for each of our executive officers is presented following the table. Our
executive officers serve at the discretion of the Board of Directors.
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Name
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Age
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Position
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George J. Pedersen
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70
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Chairman of the Board and Chief Executive Officer
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Robert A. Coleman
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46
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President and Chief Operating Officer
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Kevin M. Phillips
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44
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Vice President and Chief Financial Officer
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Eugene C. Renzi
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72
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Senior Executive Vice President and Subsidiary President
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Kurt J. Snapper
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61
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Senior Corporate Vice President and Chief Strategy and Technology Officer
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Gary A. Dorland
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56
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Subsidiary President
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Kenneth J. Farquhar
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52
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Subsidiary President
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Joseph R. Fox
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48
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Subsidiary President
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J. W. Kelley
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64
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Subsidiary President
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George J. Pedersen
. Mr. Pedersen is a co-founder of ManTech
International, Chairman of the Board of Directors and Chief Executive Officer of the Company. Mr. Pedersen has served as a director of ManTech since 1968 and was appointed Chairman of the Board of Directors in 1979, adding the position of Chief
Executive Officer in 1995. Mr. Pedersen was also President of the Company from 1995 until 2004. Mr. Pedersen has served on the board of directors of GSE Systems, Inc. since 1994 and was an executive employee of GSE from 1999 to 2002.
Mr. Pedersen is chairman of the board of directors for the Institute for Scientific Research, Inc., a not-for-profit corporation that performs research and advanced development of software and related technologies, including research for NASA.
Mr. Pedersen is on the board of directors of the National Defense Industrial Association (NDIA), the Institute for Scientific Research, Inc., and the Association For Enterprise Integration (AFEI), three industry associations.
Robert A. Coleman
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Mr. Coleman is President and Chief Operating Officer of ManTech International Corporation.
Mr. Coleman was named President and Chief Operating Officer of ManTech in September 2004 and elected as a Director of the Company in March 2006. Prior to that, he was the President of ManTechs Information Systems and Technology
organization. Before joining ManTech, Mr. Coleman was the CEO and President of Integrated Data Systems Corporation (IDS), a highly regarded provider of software engineering, computer security and enterprise architecture solutions to the
Intelligence Community and the Department of Defense that had revenues of approximately $40 million at the time it was acquired by ManTech. Founded by Mr. Coleman in 1990, IDS was acquired by ManTech in February 2003.
Kevin M. Phillips
. Mr. Phillips is the Chief Financial Officer of ManTech International Corporation. Prior to being
named Chief Financial Officer, Mr. Phillips served as Corporate Vice President and Chief of Staff for ManTech, in which capacity he played an active role in the integration of acquisitions and other strategic business issues. Mr. Phillips
joined ManTech in February 2003. He was formerly the Chief Financial Officer of CTX Corporation, a leading provider of information technology and software strategies and solutions to the national Intelligence Community that had revenues of
approximately $35 million at the time it was acquired by ManTech in December 2002. Mr. Phillips spent seven years in the executive management of CTX Corporation. Prior to that, he held various roles including controllerships in IT services
providers to the government.
Eugene C. Renzi
. Major General Eugene C. Renzi, U.S. Army (Ret.) is Senior
Executive Vice President of ManTech International Corporation and President of ManTechs Defense Systems Group (DSG). General Renzi joined ManTech in August 1993 and since 1995 has served as President of ManTech Telecommunications &
Information Systems Corporation, part of DSG and one of the companys largest subsidiaries. Prior to joining ManTech, General Renzi served in the U.S. Army for more than 32 years, including as the Director for Command and Control and
Communications Systems (C3), U.S. Pacific Command.
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Gary A. Dorland
. Mr. Dorland is President of ManTech Security and
Mission Assurance (SMA). Mr. Dorland was named President of SMA in November 2004. Prior to that, he served as SMAs Chief Operating Officer and Executive Vice President, managing the day-to-day operations. Before joining ManTech,
Mr. Dorland was Sr. Vice President of Aegis Research Corporation, a premier provider of security services that had revenues of approximately $60 million at the time it was acquired by ManTech. Aegis was acquired by ManTech in August of 2002.
Prior to joining Aegis in 1997, Mr. Dorland had an illustrious twenty-year career in the United States Air Force.
Kenneth J.
Farquhar
. Mr. Farquhar is President of ManTech Systems Engineering Corporation (MSEC). Mr. Farquhar joined ManTech in 1995 as a Vice President managing MSECs Engineering and Systems Support Group, and was
named President of MSEC in December 2003. Before joining ManTech, he held numerous technical and management positions at Veda, Inc. and the Dynalectron Corporation in support of U.S. Navy aircraft flight test and engineering efforts at the Naval Air
Warfare Center, Patuxent River, MD.
Joseph R. Fox
. Mr. Fox is President of ManTech Information
Systems and Technology (IS&T). Mr. Fox was named President of IS&T in September 2004. Prior to that, he served as Senior Vice President of IS&T. Before joining ManTech, Mr. Fox was a Vice President of Integrated Data Systems
Corporation (IDS), a highly regarded provider of software engineering, computer security and enterprise architecture solutions to the Intelligence Community and the Department of Defense that had revenues of approximately $40 million at the time it
was acquired by ManTech. He joined IDS in 1991, and was responsible for software development activities, business development and strategic planning. IDS was acquired by ManTech in February 2003.
Jay W. Kelley
. Mr. Kelley is the President of ManTechs Space Systems business unit. Mr. Kelley joined
ManTech in April 2003 and was appointed to his current position in April 2004. Previously he was Vice President of Mid-West Operations for ManTech. Before joining ManTech, Mr. Kelley served over 37 years with the United States Air Force,
retiring as a Lieutenant General. He was a charter member of Toffler Associates, and he has additional professional experience as the chief operating officer for STA, Inc., and later, the Vice President for Military Programs for Lockheed
Martin Technical Operations.
Kurt J. Snapper, Ph.D
. Mr. Snapper serves as our Senior Corporate Vice
President and Chief Strategy and Technology Officer. From 1989 until 2005, Mr. Snapper served as President of ManTech Security Technology Corporation. Mr. Snapper joined the Company in 1989, and has over 25 years experience in decision and
risk analysis, specializing in life cycle security management for physical, technical, and cyber security programs. He has a PhD from the University of Michigan, where he specialized in decision analysis. Before joining ManTech, he provided
management consulting support for several federal agencies through university and private research groups.
Employment and Retention Agreements
George J. Pedersen
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We entered into an employment retention agreement with
Mr. Pedersen effective January 1, 2002. Mr. Pedersens retention agreement provides for his employment at-will, with a minimum annual salary of $1,000,000. His salary is determined annually by the Compensation Committee of the
Board of Directors, as are any bonus awards, incentive compensation and stock option grants that he receives. For 2005, Mr. Pedersens annual salary was set at $1,200,000. His annual salary for 2006 has been reviewed by the Compensation
Committee and set at $1,300,000 and is subject to annual review.
Mr. Pedersens retention agreement provides that we may provide
him with non-cash compensation in certain circumstances, including:
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first class business travel
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business travel insurance
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lease of an executive vehicle
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portion of an employees time spent on non-corporate matters on behalf of Mr. Pedersen
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cell phone and home fax services
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tax, legal and estate planning services relating to Mr. Pedersens ManTech holdings
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matching contributions to 401(k) plan
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payments for term life insurance
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minimum contribution of $50,000 per year to his supplemental executive retirement plan
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membership dues associated with executive clubs
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If we
terminate Mr. Pedersens employment without cause, we are required to pay Mr. Pedersen a lump sum amount equal to one years base salary at the rate in effect immediately prior to such termination of employment. Mr. Pedersen
has agreed he will not compete with us and will not solicit our customers or employees during the term of his employment and for a period of one year following his termination without cause.
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