The Performance Share awards are scheduled to vest in the third quarter of 2013 based on the Company's RORCE relative to the Financial Performance Peer Group, with the final number of earned and vested Performance Shares subject to adjustment upward (to a maximum of 150 % of the original target number granted) or downward to zero.
In June 2010, the HRC awarded long - term incentive compensation to the named executives in the form of
Performance Share awards granted under the LTICP.
The HRC also considered each of the named executive's base salary and annual incentive compensation target in connection with the value of
the Performance Share awards to set total fixed and target variable compensation for the named executives between the estimated median and 75th percentile of the Labor Market Peer Group.
The HRC chose to grant
Performance Share awards as long - term incentive compensation because the HRC believes the
Performance Share awards closely align management interests with stockholders» interests.
The dollar values of the long - term compensation targets were then converted to shares of Company common stock using the stock price on the date of grant for
the Performance Share awards.
the Company's stock ownership guidelines, which require all executive officers to retain 50 % of their after - tax profit shares upon exercise of options and 50 % of after - tax shares upon vesting of
Performance Share Awards or RSRs for a period of one year following retirement.
The HRC also believes that the risks to management of forfeiting all or a significant portion of
the Performance Share awards is an effective performance incentive and the ability for management to earn additional Performance Shares for superior Company performance during the performance period provides a significant retention and motivation incentive to the named executives.
In addition, the HRC recently expanded the use of
Performance Share awards to a broader group of management, and reaffirmed the Company's directive to provide a portion of annual incentive compensation in long - term awards for the Company's highest earners and to create standard performance objectives for the Company's control function staff, to further provide safeguards that either prevent or discourage excessive risk - taking.
In February 2011, the HRC awarded long - term incentive compensation to the named executives in the form of
Performance Share awards granted under the LTICP.
In addition, the HRC has expanded the use of long - term
Performance Share awards to a broader group of management and has added for 2012 an additional risk - balancing performance measure to reduce the awards in the event of poor absolute financial performance.
One - third of
performance share awards, which make up 50 % of long - term incentive compensation, are tied to average return on invested capital over a three - year period.
Delineated tax implications and employer withholding and reporting obligations for
performance share award, stock options, and restricted stock unit matrices for 44 countries
Not exact matches
If Valeant hits $ 150 a
share, Papa gets to keep 100 % of the allotted
performance - based stock
awards, making his total pay balloon to about $ 300 million, or a whopping $ 75 million per year.
Apple has increased the proportion of
performance shares in its equity
awards, which boosts potential future earnings for the executives if the company outperforms its S&P 500 peers.
Coke will give
performance - related
shares (stock given to an executive for meeting certain goals) more weight in the long term
awards, moving the ratio to two - thirds
shares, one - third stock options, by 2016, compared to 60 % in options and 40 % in
performance -
shares now.
As it is a non-cash charge, however, and highly dependent on our
share price at the time of equity
award grants, we believe that it is useful for investors and analysts to see certain financial measures excluding the impact of these charges in order to obtain a clearer picture of our operating
performance.
The Plan permits grants of the following types of incentive
awards subject to such terms and conditions as the Leadership Development and Compensation Committee shall determine, consistent with the terms of the Plan: (1) stock options, including stock options intended to qualify as ISOs, (2) other stock - based
awards, including in the form of stock appreciation rights, phantom stock, restricted stock, restricted stock units,
performance shares, deferred
share units or
share - denominated
performance units, and (3) cash
awards.
The
performance goals upon which the payment or vesting of any Incentive Award (other than Options and stock appreciation rights) that is intended to qualify as Performance - Based Compensation depends shall relate to one or more of the following Performance Measures: market price of Capital Stock, earnings per share of Capital Stock, income, net income or profit (before or after taxes), economic profit, operating income, operating margin, profit margin, gross margins, return on equity or stockholder equity, total shareholder return, market capitalization, enterprise value, cash flow (including but not limited to operating cash flow and free cash flow), cash position, return on assets or net assets, return on capital, return
performance goals upon which the payment or vesting of any Incentive
Award (other than Options and stock appreciation rights) that is intended to qualify as
Performance - Based Compensation depends shall relate to one or more of the following Performance Measures: market price of Capital Stock, earnings per share of Capital Stock, income, net income or profit (before or after taxes), economic profit, operating income, operating margin, profit margin, gross margins, return on equity or stockholder equity, total shareholder return, market capitalization, enterprise value, cash flow (including but not limited to operating cash flow and free cash flow), cash position, return on assets or net assets, return on capital, return
Performance - Based Compensation depends shall relate to one or more of the following
Performance Measures: market price of Capital Stock, earnings per share of Capital Stock, income, net income or profit (before or after taxes), economic profit, operating income, operating margin, profit margin, gross margins, return on equity or stockholder equity, total shareholder return, market capitalization, enterprise value, cash flow (including but not limited to operating cash flow and free cash flow), cash position, return on assets or net assets, return on capital, return
Performance Measures: market price of Capital Stock, earnings per
share of Capital Stock, income, net income or profit (before or after taxes), economic profit, operating income, operating margin, profit margin, gross margins, return on equity or stockholder equity, total shareholder return, market capitalization, enterprise value, cash flow (including but not limited to operating cash flow and free cash flow), cash position, return on assets or net assets, return on capital, return on invested
Subject to the terms and conditions set forth in the Plan, incentive
awards may be settled in cash or
shares of Class C capital stock and may be subject to
performance - based and / or service - based conditions.
Under the terms of the LTICP, in addition to or in lieu of stock options, we may
award, and have
awarded in selected situations for retention purposes or to address other competitive pressures, other types of equity - based long - term compensation, including restricted stock, RSRs, stock
awards, stock appreciation rights,
performance shares, or
performance units.
These incentives are provided through the granting of stock options, stock appreciation rights, restricted stock
awards, restricted stock units,
performance bonus
awards,
performance shares and
performance units.
Also, if a majority of the Board is comprised of persons other than (i) persons for whose election proxies were solicited by the Board; or (ii) persons who were appointed by the Board to fill vacancies caused by death or resignation or to fill newly - created directorships («Board Change»), unless the Committee or Board determines otherwise prior to such Board Change, then participants immediately prior to the Board Change who cease to be employees or non-employee directors within six months after such Board Change for any reason other than death or permanent disability generally have their (i) options and stock appreciation rights become immediately exercisable and to the extent not canceled or cashed out, generally have at least six months to exercise such
awards; (ii) restrictions with respect to restricted stock and RSRs lapse and generally
shares are delivered; and (iii)
performance shares and
performance units pay out pro rata based on
performance through the end of the last calendar quarter before the time the participant ceased to be an employee.
As of March 31, 2018, equity
awards outstanding under Salesforce equity plans were approximately: 24,905,926 stock options, no unvested restricted
shares, 23,871,234 restricted stock units and 806,427
performance - based restricted stock units.
Tax withholding obligations could be satisfied by withholding
shares to be received upon exercise of an option or stock appreciation right, the vesting of restricted stock,
performance share, or stock
award, or the payment of a restricted
share right or
performance unit or by delivery to the Company of previously owned
shares of common stock.
In August 2012, to create incentives for continued long - term success from the then - recently launched Model S program as well as from Tesla's then - planned Model X and Model 3 programs, and to further align executive compensation with increases in stockholder value, the Board granted to Mr. Musk a stock option
award to purchase 5,274,901 shares of Tesla's common stock (the «2012 CEO Performance Award»), representing 5 % of Tesla's total issued and outstanding shares at the time of g
award to purchase 5,274,901
shares of Tesla's common stock (the «2012 CEO
Performance Award»), representing 5 % of Tesla's total issued and outstanding shares at the time of g
Award»), representing 5 % of Tesla's total issued and outstanding
shares at the time of grant.
(d) «
Award» means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units,
Performance Bonus
Awards,
Performance Units or
Performance Shares.
Under the Bonus Plan, our compensation committee, in its sole discretion, determines the
performance goals applicable to
awards, which goals may include, without limitation: attainment of research and development milestones, sales bookings, business divestitures and acquisitions, cash flow, cash position, earnings (which may include any calculation of earnings, including but not limited to earnings before interest and taxes, earnings before taxes, earnings before interest, taxes, depreciation and amortization and net earnings), earnings per
share, net income, net profit, net sales, operating cash flow, operating expenses, operating income, operating margin, overhead or other expense reduction, product defect measures, product release timelines, productivity, profit, return on assets, return on capital, return on equity, return on investment, return on sales, revenue, revenue growth, sales results, sales growth, stock price, time to market, total stockholder return, working capital, and individual objectives such as MBOs, peer reviews, or other subjective or objective criteria.
Mr. Apotheker was granted a long - term incentive
award consisting of 76,000
shares of time - based restricted stock vesting in equal amounts annually over a two - year period, 304,000 PRUs for the two - year
performance period extending from
If an
award of stock options or stock appreciation rights expires or becomes unexercisable without having been exercised in full or is surrendered pursuant to an exchange program or
shares issued through
awards of restricted stock, restricted stock units,
performance units,
performance shares, or stock - settled
performance awards are forfeited to us or
In other words, even if
performance shares are discounted, one year's equity
awards are more than half the Company's
share ownership guideline for the CEO.
The 2008 Plan permits the granting of incentive stock options, nonqualified stock options,
shares of restricted stock, restricted stock units, stock appreciation rights, phantom stock,
performance shares, deferred
share units and
share - denominated
performance units, and other stock - based
awards.
as to
Shares deliverable on the exercise of Options or Stock Appreciation Rights, or in settlement of
Performance Units or Restricted Stock Units, until the delivery (as evidenced by the appropriate entry on the books of Walmart of a duly authorized transfer agent of Walmart) of such
Shares, give the Recipient the right to vote, or receive dividends on, or exercise any other rights as a stockholder with respect to such
Shares, notwithstanding the exercise (in the case of Options or Stock Appreciation Rights) of the related Plan
Award;
Shkreli was
awarded substantial compensation by the Company during the period of his disloyalty including, but not limited to: substantial cash compensation, 1,605,570
shares of Retrophin stock, a grant of 1,080,000 time based options to purchase Retrophin stock (the «December 2013 Option Agreement «-RRB- and a grant of 400,000 options (half time based and half
performance based) to purchase
shares of Retrophin stock (the «February 2014 Option Agreement»).
HRC's determination that the Company has met as of December 31, 2012, certain
performance criteria specified in the award; (2) the Performance Shares granted during 2010 that will vest in full if at all in the third quarter of 2013, subject to the HRC's determination that the Company has met as of June 30, 2013, certain performance criteria specified in the award; and (3) the Performance Shares granted in 2011 that will vest in full if at all in the first quarter of 2014, subject to the HRC's determination that the Company has met as of December 31, 2013, certain performance criteria specified in
performance criteria specified in the
award; (2) the
Performance Shares granted during 2010 that will vest in full if at all in the third quarter of 2013, subject to the HRC's determination that the Company has met as of June 30, 2013, certain performance criteria specified in the award; and (3) the Performance Shares granted in 2011 that will vest in full if at all in the first quarter of 2014, subject to the HRC's determination that the Company has met as of December 31, 2013, certain performance criteria specified in
Performance Shares granted during 2010 that will vest in full if at all in the third quarter of 2013, subject to the HRC's determination that the Company has met as of June 30, 2013, certain
performance criteria specified in the award; and (3) the Performance Shares granted in 2011 that will vest in full if at all in the first quarter of 2014, subject to the HRC's determination that the Company has met as of December 31, 2013, certain performance criteria specified in
performance criteria specified in the
award; and (3) the
Performance Shares granted in 2011 that will vest in full if at all in the first quarter of 2014, subject to the HRC's determination that the Company has met as of December 31, 2013, certain performance criteria specified in
Performance Shares granted in 2011 that will vest in full if at all in the first quarter of 2014, subject to the HRC's determination that the Company has met as of December 31, 2013, certain
performance criteria specified in
performance criteria specified in the
award.
Qualified
Performance - Based Award is an award consisting of an option, restricted stock, restricted stock unit, stock appreciation right, performance unit or Shares that is intended to provide «qualified performance - based compensation» within the meaning of Section 162 (m) of the Internal Re
Performance - Based
Award is an award consisting of an option, restricted stock, restricted stock unit, stock appreciation right, performance unit or Shares that is intended to provide «qualified performance - based compensation» within the meaning of Section 162 (m) of the Internal Revenue
Award is an
award consisting of an option, restricted stock, restricted stock unit, stock appreciation right, performance unit or Shares that is intended to provide «qualified performance - based compensation» within the meaning of Section 162 (m) of the Internal Revenue
award consisting of an option, restricted stock, restricted stock unit, stock appreciation right,
performance unit or Shares that is intended to provide «qualified performance - based compensation» within the meaning of Section 162 (m) of the Internal Re
performance unit or
Shares that is intended to provide «qualified
performance - based compensation» within the meaning of Section 162 (m) of the Internal Re
performance - based compensation» within the meaning of Section 162 (m) of the Internal Revenue Code.
Stock options and stock appreciation rights with respect to no more than 8,000,000
shares of our common stock may be granted to any one individual in any one calendar year and the maximum «
performance - based
award» payable to any one individual under the 2014 Plan is 8,000,000
shares of stock or $ 5 million in the case of cash - based
awards.
The company's three - year
performance awards going forward are based on both EPS and free cash flow per
share.
on a pro forma basis, giving effect to (i) the automatic conversion of all of our outstanding
shares of convertible preferred stock other than Series FP preferred stock into
shares of Class B common stock and the conversion of Series FP preferred stock into
shares of Class C common stock in connection with our initial public offering, (ii) stock - based compensation expense of approximately $ 1.1 billion associated with outstanding RSUs subject to a
performance condition for which the service - based vesting condition was satisfied as of December 31, 2016 and which we will recognize on the effectiveness of our registration statement in connection with a qualifying initial public offering, as further described in Note 1 to our consolidated financial statements included elsewhere in this prospectus, (iii) the increase in accrued expenses and other current liabilities and an equivalent decrease in additional paid - in capital of $ 187.2 million in connection with the withholding tax obligations, based on $ 16.33 per
share, which is the fair value of our common stock as of December 31, 2016, as we intend to issue
shares of Class A common stock and Class B common stock on a net basis to satisfy the associated withholding tax obligations, (iv) the net issuance of 7.6 million
shares of Class A common stock and 5.5 million
shares of Class B common stock that will vest and be issued from the settlement of such RSUs, (v) the issuance of the CEO
award, as described below, and (vi) the filing and effectiveness of our amended and restated certificate of incorporation which will be in effect on the completion of this offering.
If an
Award expires or becomes unexercisable without having been exercised in full, is surrendered pursuant to an Exchange Program, or, with respect to Restricted Stock, Restricted Stock Units,
Performance Units or
Performance Shares, is forfeited to or repurchased by the Company due to failure to vest, the unpurchased
Shares (or for
Awards other than Options or Stock Appreciation Rights the forfeited or repurchased
Shares), which were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated).
The pro forma consolidated balance sheet data gives effect to (i) the automatic conversion of all of our outstanding
shares of convertible preferred stock other than Series FP preferred stock into
shares of Class B common stock and the conversion of Series FP preferred stock into
shares of Class C common stock in connection with our initial public offering, (ii) stock - based compensation expense of approximately $ 1.1 billion associated with outstanding RSUs subject to a
performance condition for which the service - based vesting condition was satisfied as of December 31, 2016 and which we will recognize on the effectiveness of our registration statement in connection with this offering, as further described in Note 1 to our consolidated financial statements included elsewhere in this prospectus, (iii) the increase in accrued expenses and other current liabilities and an equivalent decrease in additional paid - in capital of $ 187.2 million in connection with the withholding tax obligations, based on $ 16.33 per
share, which is the fair value of our common stock as of December 31, 2016, as we intend to issue
shares of Class A common stock and Class B common stock on a net basis to satisfy the associated withholding tax obligations, (iv) the net issuance of 7.6 million
shares of Class A common stock and 5.5 million
shares of Class B common stock that will vest and be issued from the settlement of such RSUs, (v) the issuance of the CEO
award, as described below, and (vi) the filing and effectiveness of our amended and restated certificate of incorporation which will be in effect on the completion of this offering.
(c) «
Award» means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units,
Performance Units or
Performance Shares.
With respect to
Awards granted to an Outside Director that are assumed or substituted for, if on the date of or following such assumption or substitution the Participant's status as a Director or a director of the successor corporation, as applicable, is terminated other than upon a voluntary resignation by the Participant (unless such resignation is at the request of the acquirer), then the Participant will fully vest in and have the right to exercise Options and / or Stock Appreciation Rights as to all of the
Shares underlying such
Award, including those
Shares which would not otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to
Awards with
performance - based vesting, all
performance goals or other vesting criteria will be deemed achieved at one hundred percent (100 %) of target levels and all other terms and conditions met.
upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit,
Performance Unit or
Performance Share, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the Change in Con
Share, for each
Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the Change in Con
Share subject to such
Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per
share consideration received by holders of Common Stock in the Change in Con
share consideration received by holders of Common Stock in the Change in Control.
The named executives were
awarded the following target number of
Performance Shares: Mr. Stumpf — 400,583; Mr. Atkins — 200,292; Mr. Hoyt — 236,708; Mr. Oman — 182,084; and Ms. Tolstedt — 200,292.
His
share awards will be pro-rated in line with the plan rules and will vest over the next five years, to the extent Group
performance targets are achieved.»
Additionally, long - term
awards are split between
performance shares and long - term cash
awards.
Long - term incentives are
awarded stock options and
performance - based
shares.
The Ubbi has won a number of industry «best of»
awards and it's no surprise why; we fully expect this brand to gain more market
share of the diaper pail industry as time goes on — especially for families with multiples where sleek, practical
performance reigns supreme.
We've had a great reception everywhere, fantastic reviews (we'll happily take the Tinker Tailor comparisons), and have just heard that Andrea Riseborough and Brid Brennan have
shared the Best
Performance award at Edinburgh.
In respect of both individuals there will be: • No lump sum payment • No annual short - term
performance bonus for 2012 or 2013 • No long - term
share award for 2013