According to Institutional Shareholder Services (ISS) in Rockville, Md., at least 60 proxy initiatives are in the works by shareholders at major public corporations who seek to end what they see
as executive compensation abuses.
I have a strong aspiration to work on an environment
as executive compensation analyst that would offer challenges and would require strategically thought implementation.
We have extensive experience in designing, drafting, and amending pension and welfare benefit plans, as well
as executive compensation arrangements.
Whether «voters» should have direct control over something as technical (and sometimes emotional)
as executive compensation is far from clear, which is why most say - on - pay requirements today call only for advisory votes.
Not exact matches
The bank agreed last year that it would cut
executive bonuses,
as investors saw its
compensation packages
as excessive.
Executive compensation continues to be one of the hardest problems faced by corporate boards,
as well
as an absolutely key ethical obligation.
With regard to setting
executive compensation, boards may need not just detailed information about performance, but also information about industry benchmarks
as well
as information about what a given CEO's other employment options are.
Musk agreed to stay
as chief
executive for 10 years, with
compensation tied to $ 50 billion leaps in Tesla's valuation.
As he pointed out, unlike TARP recipients, neither mortgage firm is being forced to follow guidelines that supposedly align
executive compensation and shareholder interests.
If the 8,000 Canadians who received stock options
as part of incomes over $ 250,000 paid taxes on this money at the same rate
as the rest of their income — treating
executive compensation the same way you treat the income of any other working stiff — it would have raised $ 337 million for federal coffers in 2009, a down year for options.
According to Whoriskey, ``...
executive compensation at the nation's largest firms has roughly quadrupled in real terms since the 1970s, even
as pay for 90 percent of America has stalled...» Setting aside imprecision of language, that suggests a significant disparity — not disparity of outcomes (which are a given, here) but disparity of rate of improvement.
He wanted to study the claim by consultants that
executives need to be paid extraordinarily high
compensation or else they would migrate to other companies and jurisdictions, which —
as it turned out — did not happen, Feinberg said, or is a «myth»
as was stated in the U.K. this week.
The Institute for the Governance of Private and Public Organizations proposed abolishing the use of stock options
as a form of
executive compensation.
So boards of directors do have some public obligations related to how they choose to compensate
executives (even if,
as I've argued before, outsized
compensation isn't automatically unfair).
Exxon board member Bill George led a National Association of Corporate Directors Blue Ribbon Commission on «
Executive Compensation and the Role of the
Compensation Committee,» which included recommendations such
as not offering contracts to
executives (giving the board more flexibility in how it deals with the CEO's pay and tenure), which is reflected in the pay practices at ExxonMobil.
This is unsurprising, both because
executive compensation has become one of the hot topics of the day (or rather, of the post-Occupy era) and because the study highlights the fact that if you look at the Top 100 Canadian CEOs (in terms of salary), the average Top 100 CEO earns
as much in four hours
as the average Canadian makes in an entire year (i.e., about $ 46,000).
While these chief
executives received a 7.17 increase in collective direct
compensation for the fiscal year, they received even more when taking into account other elements such
as pension value.
Media giant Viacom said on Wednesday it cut the
compensation of its top two
executives,
executive chairman Sumner Redstone and CEO Philippe Dauman,
as the company faced business pressures and a sharp drop in its share price.
Last year, Iger pulled in $ 46.5 million
as Disney's chief
executive, which actually represented a bump of more than 35 % from his
compensation the previous year.
* Do you have
compensation and benefits plans designed to attract and keep first - rate
executives as key managers?
The trigger for the latest Redstone family feud, according to several sources, was a dispute over corporate governance issues — such
as Shari's effort to more closely tie
executive compensation to performance — at Viacom (viab) and CBS (cbs), a media empire that encompasses MTV, the CBS broadcast network, the Paramount film studio and the pay - TV channel Showtime.
That meant instituting numeric targets for women in leadership,
as well
as for people of color, and tying
executive compensation partly to meeting those metrics.
The $ 100m package is the first stock - based
compensation that Schmidt has received since he took over
as chief
executive.
The
Compensation Committee, consisting entirely of independent directors, is responsible for Apple's compensation and incentive plans and programs, approves all compensation for Apple's executive officers, and acts as the administrative committee for Apple's employee e
Compensation Committee, consisting entirely of independent directors, is responsible for Apple's
compensation and incentive plans and programs, approves all compensation for Apple's executive officers, and acts as the administrative committee for Apple's employee e
compensation and incentive plans and programs, approves all
compensation for Apple's executive officers, and acts as the administrative committee for Apple's employee e
compensation for Apple's
executive officers, and acts
as the administrative committee for Apple's employee equity plans.
In making these determinations, the
Compensation Committee may consult with its independent compensation consultant and management, as described below; however, the Compensation Committee uses its own judgment in making final decisions regarding the compensation paid to our executi
Compensation Committee may consult with its independent
compensation consultant and management, as described below; however, the Compensation Committee uses its own judgment in making final decisions regarding the compensation paid to our executi
compensation consultant and management,
as described below; however, the
Compensation Committee uses its own judgment in making final decisions regarding the compensation paid to our executi
Compensation Committee uses its own judgment in making final decisions regarding the
compensation paid to our executi
compensation paid to our
executive officers.
We note that, in accordance with Rule 14 (a)-6 (a), Apple was not required to file preliminary proxy materials with the Commission because the matters to be acted on at the meeting are limited to (1) the election of directors, (2) the ratification of accountants, (3) a vote on an advisory resolution to approve
executive compensation, (4) the approval of the Plan described above, which is a «plan»
as defined in paragraph (a)(6)(ii) of Item 402 of Regulation S - K, and (5) shareholder proposals pursuant to Rule 14a - 8.
As part of our annual planning process, the CEO, with assistance from external consultants, develops and recommends a
compensation program for all
executive officers.
This table and the related tables that follow present the
compensation paid for 2007 to Richard M. Kovacevich, Chairman (who also served
as CEO until June 2007); John G. Stumpf, President and, since June 2007, CEO; Howard I. Atkins, Senior
Executive Vice President and Chief Financial Officer (CFO); and the next three highest paid executive officers named in these tables: David A. Hoyt, Senior Executive Vice President, Wholesale Banking; Mark C. Oman, Senior Executive Vice President, Home and Consumer Finance; and Carrie L. Tolstedt, Senior Executive Vice President, Community
Executive Vice President and Chief Financial Officer (CFO); and the next three highest paid
executive officers named in these tables: David A. Hoyt, Senior Executive Vice President, Wholesale Banking; Mark C. Oman, Senior Executive Vice President, Home and Consumer Finance; and Carrie L. Tolstedt, Senior Executive Vice President, Community
executive officers named in these tables: David A. Hoyt, Senior
Executive Vice President, Wholesale Banking; Mark C. Oman, Senior Executive Vice President, Home and Consumer Finance; and Carrie L. Tolstedt, Senior Executive Vice President, Community
Executive Vice President, Wholesale Banking; Mark C. Oman, Senior
Executive Vice President, Home and Consumer Finance; and Carrie L. Tolstedt, Senior Executive Vice President, Community
Executive Vice President, Home and Consumer Finance; and Carrie L. Tolstedt, Senior
Executive Vice President, Community
Executive Vice President, Community Banking.
Annual
compensation of the named
executive officers
as a group varies year to year based on business results and individual performance.
To establish our
executive officers» individual target cash bonus opportunities, which are expressed
as a percentage of base salary, the
Compensation Committee considers competitive pay data, input from its compensation consultant, an
Compensation Committee considers competitive pay data, input from its
compensation consultant, an
compensation consultant, and the level,
As for the other named
executive officers, actual total
compensation for 2015 ranged from 46 % to 63 % of annual total target
compensation.
While a number of Jos. A. Bank
executives left
as part of the acquisitions, Ewert saw his
compensation increase by 167 %, to $ 9.7 million.
Other than periodic incentive plans that were historically provided to Mr. McNeill based on the achievement of specific customer - related metrics, including
as set forth under the «Non-Equity Incentive Plan
Compensation» column in «
Executive Compensation — Summary Compensation Table» below, we do not currently have or have planned any specific arrangements with our named executive officers providing for cash - based bonu
Executive Compensation — Summary
Compensation Table» below, we do not currently have or have planned any specific arrangements with our named
executive officers providing for cash - based bonu
executive officers providing for cash - based bonus awards.
Further, the
Compensation Committee considers peer company data and competitive positioning analysis, each
executive's individual performance,
as described below,
as well
as stockholder input.
To supplement the disclosures in «
Executive Compensation — Summary Compensation Table,» «Executive Compensation — Pay Ratio Disclosure» and «Executive Compensation — 2017 Option Exercises and Stock Vested» below, we have included the following table, which shows the total realized compensation of Mr. Musk for the periods presented in «Executive Compensation — Summary Compensation Table,» as well as the ratio of Mr. Musk's realized compensation to the median of the annual total compensation of all other Tesla employees as reported in «Executive Compensation — Pay Ratio Disclo
Compensation — Summary
Compensation Table,» «Executive Compensation — Pay Ratio Disclosure» and «Executive Compensation — 2017 Option Exercises and Stock Vested» below, we have included the following table, which shows the total realized compensation of Mr. Musk for the periods presented in «Executive Compensation — Summary Compensation Table,» as well as the ratio of Mr. Musk's realized compensation to the median of the annual total compensation of all other Tesla employees as reported in «Executive Compensation — Pay Ratio Disclo
Compensation Table,» «
Executive Compensation — Pay Ratio Disclosure» and «Executive Compensation — 2017 Option Exercises and Stock Vested» below, we have included the following table, which shows the total realized compensation of Mr. Musk for the periods presented in «Executive Compensation — Summary Compensation Table,» as well as the ratio of Mr. Musk's realized compensation to the median of the annual total compensation of all other Tesla employees as reported in «Executive Compensation — Pay Ratio Disclo
Compensation — Pay Ratio Disclosure» and «
Executive Compensation — 2017 Option Exercises and Stock Vested» below, we have included the following table, which shows the total realized compensation of Mr. Musk for the periods presented in «Executive Compensation — Summary Compensation Table,» as well as the ratio of Mr. Musk's realized compensation to the median of the annual total compensation of all other Tesla employees as reported in «Executive Compensation — Pay Ratio Disclo
Compensation — 2017 Option Exercises and Stock Vested» below, we have included the following table, which shows the total realized
compensation of Mr. Musk for the periods presented in «Executive Compensation — Summary Compensation Table,» as well as the ratio of Mr. Musk's realized compensation to the median of the annual total compensation of all other Tesla employees as reported in «Executive Compensation — Pay Ratio Disclo
compensation of Mr. Musk for the periods presented in «
Executive Compensation — Summary Compensation Table,» as well as the ratio of Mr. Musk's realized compensation to the median of the annual total compensation of all other Tesla employees as reported in «Executive Compensation — Pay Ratio Disclo
Compensation — Summary
Compensation Table,» as well as the ratio of Mr. Musk's realized compensation to the median of the annual total compensation of all other Tesla employees as reported in «Executive Compensation — Pay Ratio Disclo
Compensation Table,»
as well
as the ratio of Mr. Musk's realized
compensation to the median of the annual total compensation of all other Tesla employees as reported in «Executive Compensation — Pay Ratio Disclo
compensation to the median of the annual total
compensation of all other Tesla employees as reported in «Executive Compensation — Pay Ratio Disclo
compensation of all other Tesla employees
as reported in «
Executive Compensation — Pay Ratio Disclo
Compensation — Pay Ratio Disclosure.»
For the individual serving
as the chief
executive officer of the Company at the end of the taxable year and for the individuals serving
as officers of the Company or a subsidiary at the end of such year who are among the three highest compensated officers (other than the chief
executive officer and chief financial officer) for proxy reporting purposes, Section 162 (m) of the Code limits the amount of
compensation otherwise deductible by the Company and its subsidiaries for such year to $ 1,000,000 for each such individual except to the extent that such
compensation is «performance - based
compensation.»
Given our greater emphasis on providing option grants
as the key component of our
executive compensation, our board of directors did not adjust the target bonus amounts for our
executive officers in 2010 from prior years.
We are providing a ratio of (i) Mr. Musk's 2017 annual total
compensation to (ii) the median of the 2017 annual total compensation of all Tesla employees, other than Mr. Musk, calculated pursuant to the disclosure requirements of «Executive Compensation — Summary Compensation Table» above as if all of our employees were named executi
compensation to (ii) the median of the 2017 annual total
compensation of all Tesla employees, other than Mr. Musk, calculated pursuant to the disclosure requirements of «Executive Compensation — Summary Compensation Table» above as if all of our employees were named executi
compensation of all Tesla employees, other than Mr. Musk, calculated pursuant to the disclosure requirements of «
Executive Compensation — Summary Compensation Table» above as if all of our employees were named executive
Executive Compensation — Summary Compensation Table» above as if all of our employees were named executi
Compensation — Summary
Compensation Table» above as if all of our employees were named executi
Compensation Table» above
as if all of our employees were named
executive executive officers.
The company's
executives bonuses were tied to a non-GAAP metric they called «Cash EPS» that excluded costs related to acquisitions,
as well
as stock - based
compensation.
«Total CEO realized
compensation» for a given year is defined as (i) Mr. Musk's salary, cash bonuses, non-equity incentive plan compensation and all other compensation as reported in «Executive Compensation — Summary Compensation Table» below, plus (ii) with respect to any stock option exercised by Mr. Musk in such year in connection with which shares of stock were also sold other than to satisfy the resulting tax liability, if any, the difference between the market price of Tesla common stock at the time of exercise on the exercise date and the exercise price of the option, plus (iii) with respect to any restricted stock unit vested by Mr. Musk in such year in connection with which shares of stock were also sold other than automatic sales to satisfy the Company's withholding obligations related to the vesting of such restricted stock unit, if any, the market price of Tesla common stock at the time of vesting, plus (iv) any cash actually received by Mr. Musk in respect of any shares sold to cover tax liabilities as described in (ii) and (iii) above, following the payment of s
compensation» for a given year is defined
as (i) Mr. Musk's salary, cash bonuses, non-equity incentive plan
compensation and all other compensation as reported in «Executive Compensation — Summary Compensation Table» below, plus (ii) with respect to any stock option exercised by Mr. Musk in such year in connection with which shares of stock were also sold other than to satisfy the resulting tax liability, if any, the difference between the market price of Tesla common stock at the time of exercise on the exercise date and the exercise price of the option, plus (iii) with respect to any restricted stock unit vested by Mr. Musk in such year in connection with which shares of stock were also sold other than automatic sales to satisfy the Company's withholding obligations related to the vesting of such restricted stock unit, if any, the market price of Tesla common stock at the time of vesting, plus (iv) any cash actually received by Mr. Musk in respect of any shares sold to cover tax liabilities as described in (ii) and (iii) above, following the payment of s
compensation and all other
compensation as reported in «Executive Compensation — Summary Compensation Table» below, plus (ii) with respect to any stock option exercised by Mr. Musk in such year in connection with which shares of stock were also sold other than to satisfy the resulting tax liability, if any, the difference between the market price of Tesla common stock at the time of exercise on the exercise date and the exercise price of the option, plus (iii) with respect to any restricted stock unit vested by Mr. Musk in such year in connection with which shares of stock were also sold other than automatic sales to satisfy the Company's withholding obligations related to the vesting of such restricted stock unit, if any, the market price of Tesla common stock at the time of vesting, plus (iv) any cash actually received by Mr. Musk in respect of any shares sold to cover tax liabilities as described in (ii) and (iii) above, following the payment of s
compensation as reported in «
Executive Compensation — Summary Compensation Table» below, plus (ii) with respect to any stock option exercised by Mr. Musk in such year in connection with which shares of stock were also sold other than to satisfy the resulting tax liability, if any, the difference between the market price of Tesla common stock at the time of exercise on the exercise date and the exercise price of the option, plus (iii) with respect to any restricted stock unit vested by Mr. Musk in such year in connection with which shares of stock were also sold other than automatic sales to satisfy the Company's withholding obligations related to the vesting of such restricted stock unit, if any, the market price of Tesla common stock at the time of vesting, plus (iv) any cash actually received by Mr. Musk in respect of any shares sold to cover tax liabilities as described in (ii) and (iii) above, following the payment of s
Compensation — Summary
Compensation Table» below, plus (ii) with respect to any stock option exercised by Mr. Musk in such year in connection with which shares of stock were also sold other than to satisfy the resulting tax liability, if any, the difference between the market price of Tesla common stock at the time of exercise on the exercise date and the exercise price of the option, plus (iii) with respect to any restricted stock unit vested by Mr. Musk in such year in connection with which shares of stock were also sold other than automatic sales to satisfy the Company's withholding obligations related to the vesting of such restricted stock unit, if any, the market price of Tesla common stock at the time of vesting, plus (iv) any cash actually received by Mr. Musk in respect of any shares sold to cover tax liabilities as described in (ii) and (iii) above, following the payment of s
Compensation Table» below, plus (ii) with respect to any stock option exercised by Mr. Musk in such year in connection with which shares of stock were also sold other than to satisfy the resulting tax liability, if any, the difference between the market price of Tesla common stock at the time of exercise on the exercise date and the exercise price of the option, plus (iii) with respect to any restricted stock unit vested by Mr. Musk in such year in connection with which shares of stock were also sold other than automatic sales to satisfy the Company's withholding obligations related to the vesting of such restricted stock unit, if any, the market price of Tesla common stock at the time of vesting, plus (iv) any cash actually received by Mr. Musk in respect of any shares sold to cover tax liabilities
as described in (ii) and (iii) above, following the payment of such amounts.
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 grant.
The
Compensation Committee believes that options to purchase shares of our common stock, with an exercise price equal to the market price of our common stock on the date of grant, are inherently performance - based and are a very effective tool to motivate our
executives to build stockholder value and reinforce our position
as a growth company.
Jarden's
executives» cash bonuses and equity awards are tied to meeting specific «adjusted EPS» criteria, which is the same
as reported EPS except that it removes certain expenses, including stock
compensation associated with restricted stock.
Code Section 162 (m) limits the U.S. federal income tax deduction for
compensation paid to our Chief
Executive Officer, our Chief Financial Officer and certain other highly compensated executive officers (including, among others, our next three other most highly compensated executive officers (other than the Chief Executive Officer and Chief Financial Officer) as of the end of the calend
Executive Officer, our Chief Financial Officer and certain other highly compensated
executive officers (including, among others, our next three other most highly compensated executive officers (other than the Chief Executive Officer and Chief Financial Officer) as of the end of the calend
executive officers (including, among others, our next three other most highly compensated
executive officers (other than the Chief Executive Officer and Chief Financial Officer) as of the end of the calend
executive officers (other than the Chief
Executive Officer and Chief Financial Officer) as of the end of the calend
Executive Officer and Chief Financial Officer)
as of the end of the calendar year).
The following table lists the annual
compensation for the fiscal years 2009, 2008, and 2007 of our CEO, CFO, and our three other most highly compensated
executive officers in 2009 (referred to
as listed officers).
For purposes of the table in «
Executive Compensation — Summary
Compensation Table» below, we are required to report pursuant to applicable SEC rules any stock option grants to Mr. Musk at values determined
as of their respective grant dates and which are driven by certain assumptions prescribed by Financial Accounting Board Accounting Standards Codification Topic 718, «
Compensation — Stock
Compensation» («ASC Topic 718»).
An «Employer Sponsored Retirement Plan» is a Qualified Retirement Plan, ERISA covered 403 (b) and certain non-qualified deferred
compensation arrangements that operate in a similar manner to a Qualified Retirement Plan, such
as 457 plans and
executive deferred
compensation arrangements, but not including employer sponsored IRAs.
the annual
compensation deduction limit has been reduced to $ 500,000, the exception for performance - based
compensation has been eliminated and the individuals covered by the limit has been expanded to include not only our covered
executives as described above but also our next 20 most highly compensated team members.
The
Executive Vice President, Human Resources has engaged Mercer LLC
as management's
compensation consultant.
A cynic would likely view and categorize «ëxcessive»
executive compensation / remuneration
as nothing more than a legal loop hole to what some people (i.e., the Chicago Judge in Conrad Black's case) would.