Not exact matches
The board also approved an estimated $ 900 million in repurchases to offset shares
awarded under equity -
based compensation plans during the same period.
They supplement
base pay to provide competitive
compensation, can act as a recognition tool to
award employees for satisfactory work, and they help ensure that employees» interests are aligned with shareholders.
The majority of companies have instituted limits just for stock -
based awards, while others have targeted overall
compensation, including cash.
The tech giant announced it would
award eligible employees $ 2,500 in stock -
based compensation.
Represents share -
based compensation expense associated with equity
awards for the periods indicated; also includes the portion of annual non-cash incentive
compensation expense that eligible employees elected to receive or are expected to elect to receive as common equity in lieu of their 2017 and 2018 cash bonus, respectively.
Gorman's
compensation jumped to $ 16 million last year, according to the bank's annual proxy statement - up from $ 12 million the year before - plus an additional $ 6.5 million in long - term incentive
awards based on performance targets.
Fink was
awarded $ 27.7 million in
compensation last year, compared to $ 25.5 million in 2016,
based on a calculation of his pay in line with U.S. Securities and...
Based on performance assessments, the CEO attends a meeting of the
Compensation Committee held for the purpose of considering the individual executives» annual compensation and recommends the base salary and any incentive bonus awards or long - term incentive awards, if applicable, for each of the executive officers, including the named executi
Compensation Committee held for the purpose of considering the individual executives» annual
compensation and recommends the base salary and any incentive bonus awards or long - term incentive awards, if applicable, for each of the executive officers, including the named executi
compensation and recommends the
base salary and any incentive bonus
awards or long - term incentive
awards, if applicable, for each of the executive officers, including the named executive officers.
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.
We believe our ability to grant equity -
based awards is a valuable and necessary
compensation tool that aligns the long - term financial interests of the employees and directors with the financial interests of our stockholders.
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 on invested
The primary elements of each named executive officer's total
compensation shown in the table are
base salary, an annual cash incentive, and long - term equity
awards consisting of time -
based and performance -
based RSUs.
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.
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 bonus
awards.
We
award only equity -
based compensation to our independent directors.
(l) Except as otherwise set forth in Schedule 2.7 (l) of the Disclosure Schedule, (i) the Company is not and will not be obligated to pay separation, severance, termination or similar benefits as a result of any of the transactions contemplated by this Agreement, nor will any such transactions accelerate the time of payment or vesting, or increase the amount, of any benefit or other
compensation due to any individual; and (ii) the transactions contemplated by this Agreement will not cause the Company to record additional
compensation expense on its income statements with respect to any outstanding Stock Option or other equity -
based award.
These new rules are effective starting in 2018 for us, except that certain equity
awards (such as stock options) that we granted on or before November 2, 2017, might still be able qualify as performance -
based compensation.
See «Executive
Compensation — Grants of Plan -
Based Awards in 2017» below.
We
award cash
compensation to our NEOs in the form of
base salaries and annual cash incentives under our Kokua Bonus Plan, and we
award equity
compensation in the form of stock options, restricted stock units («RSUs») and PRSUs.
As discussed in the CD&A under «
Compensation Components» and «Achieving Compensation Objectives — Pay for Performance,» we have provided incentive compensation in the form of an annual cash incentive award based on Company, business line and individual qualitative performance results for each fiscal year, and long - term incentive compensation generally in the form of stock option grants and, in certain circumstances, RSRs to reward our SEOs for contribution to growth in long - term stockh
Compensation Components» and «Achieving
Compensation Objectives — Pay for Performance,» we have provided incentive compensation in the form of an annual cash incentive award based on Company, business line and individual qualitative performance results for each fiscal year, and long - term incentive compensation generally in the form of stock option grants and, in certain circumstances, RSRs to reward our SEOs for contribution to growth in long - term stockh
Compensation Objectives — Pay for Performance,» we have provided incentive
compensation in the form of an annual cash incentive award based on Company, business line and individual qualitative performance results for each fiscal year, and long - term incentive compensation generally in the form of stock option grants and, in certain circumstances, RSRs to reward our SEOs for contribution to growth in long - term stockh
compensation in the form of an annual cash incentive
award based on Company, business line and individual qualitative performance results for each fiscal year, and long - term incentive
compensation generally in the form of stock option grants and, in certain circumstances, RSRs to reward our SEOs for contribution to growth in long - term stockh
compensation generally in the form of stock option grants and, in certain circumstances, RSRs to reward our SEOs for contribution to growth in long - term stockholder value.
Our Bonus Plan allows our
compensation committee to provide incentive
awards (payable in cash or grants of equity
awards) to selected employees, including our named executive officers,
based upon performance goals established by our
compensation committee.
A portion of these
awards is generally subject to continued post-acquisition employment, and this portion has been accounted for as post-acquisition share -
based compensation expense.
Early staffers had an unusual
compensation system that
awarded supersized payouts
based on the project's value.
This same mix of performance -
based and time -
based awards has been granted by the Committee for the past several years and reflects HP's primary emphasis on performance driven
compensation, with the time -
based awards providing a measure of retention value, which is also an important component of the overall executive
compensation arrangement.
The Company recognizes
compensation expense equal to the grant date fair value of the common stock on a straight - line
basis over the period during which the employee is required to perform service in exchange for the
award.
Stockholders should review the information in the Summary
Compensation Table and the Grants of Plan -
Based Awards table, as well as the additional tables that follow, in conjunction with our CD&A.
As in 2010, the HRC
awarded named executives a combination of
compensation composed of a high percentage of performance -
based pay, predominantly in long - term equity
compensation.
The HRC did not alter the overall
compensation program for named executives for 2011, which consisted of
base salary, an annual incentive
award opportunity and an equity -
based long - term incentive
award opportunity.
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»).
In determining the
compensation of our named executive officers other than our Chief Executive Officer, the
compensation committee receives input from our Chief Executive Officer and Executive Vice President of Human Resources with respect to appropriate
base salary levels and short - term and long - term incentive
awards for such officers.
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 Revenue
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 Revenue
based compensation» within the meaning of Section 162 (m) of the Internal Revenue Code.
It is the intent of the Company that Options and stock appreciation rights granted to Covered Employees and other Incentive
Awards designated as Incentive
Awards to Covered Employees subject to Section 8 shall constitute qualified «performance -
based compensation» within the meaning of Code Section 162 (m) and regulations thereunder, unless otherwise determined by the Committee at the time of allocation of an Incentive
Award.
While Wells has received some heavy wrist - slapping for getting caught with its pants down, its seems
based on the bloated
compensation awarded to the CEO and the fact that,
based on the true accounting below, Wells doesn't seem to mind continuing to operate with its pants and underwear draped like a pedophile around its ankles.
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.
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.
The number of shares of our Class A common stock outstanding after this offering as shown in the tables above is
based on the number of shares outstanding as of September 24, 2014, after giving effect to the Transactions and the Assumed Redemption, and excludes 5,952,917 shares of Class A common stock reserved for issuance under our 2015 Incentive
Award Plan (as described in «Executive
Compensation — New Employment Agreements and Incentive Plans»), consisting of (i) 2,689,486 shares of Class A common stock issuable upon the exercise of options to purchase shares of Class A common stock granted on the date of this prospectus to our directors and certain employees, including the named executive officers, in connection with this offering as described in «Executive
Compensation --
For equity
awards granted prior to recent tax law changes, these conditions were intended to qualify the stock -
based awards as tax - deductible
compensation under Section 162 (m)(4)(c) of the Internal Revenue Code.
The number of shares of our Class A common stock outstanding after this offering as shown in the tables above is
based on the number of shares outstanding as of September 24, 2014, after giving effect to the Transactions and the Assumed Redemption, and excludes shares of Class A common stock reserved for issuance under our 2015 Incentive
Award Plan (as described in «Executive
Compensation — New Employment Agreements and Incentive Plans»), consisting of (i) shares of Class A common stock issuable upon the exercise of options to purchase shares of Class A common stock granted on the date of this prospectus to our directors and certain employees, including the named executive officers, in connection with this offering as described
Under this method, the
compensation cost is measured at the grant date
based on the value of the
award and is recognized over the service period, which is usually the vesting period.
To permit eligible
compensation to qualify as «performance -
based compensation» under Section 162 (m) of the Code, the HRC Committee sets the overall funding target for the «umbrella» structure for the annual bonuses, and sets performance goals for annual bonuses and equity
awards within the first 90 days of the fiscal year.
The objectives of our long - term incentive
awards, including equity -
based compensation, are to encourage executives to focus on our long - term growth and to incentivize executives to manage our company from the perspective of stockholders with a meaningful stake in our success.
We use stock -
based awards in our executive
compensation program in order to align the interests of our NEOs with those of our stockholders.
The Company subsequently supplemented this policy with an overlapping clawback policy that requires all executive officers, as well as the next 20 most highly compensated employees, to forfeit previously
awarded compensation if the payments were
based on materially inaccurate financial statements or any other criteria that are later proven to be materially inaccurate.
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 time -
based awards facilitate retention, which is also an important goal of HP Co.'s executive
compensation program.
Forms of
compensation that do not qualify is any
compensation that incentivizes the advisor to make the specific recommendation — like trips,
awards programs, productions bonuses, and marketing dollars
based on production or performance.
Return on invested capital (ROIC) was added to Hurco Companies» executive
compensation plan in 2014 as a target goal for performance -
based equity
awards.
In response to shareholder feedback, the company revamped its executive
compensation program by introducing a formulaic bonus scheme (which included metrics
based on TSR, production, expenses, and margins), conditioning equity
awards on performance metrics (relative TSR and absolute cash flow), and reducing Mr. Nichols» salary by one - third.
These stock
awards are not given
based on any specific formula but rather by a process under the discretion of the
compensation committee that involves examining the expected stock price and projecting a value similar to competitors»
compensation.
The agreement also sets a target
award value for annual long - term incentive
compensation awards at twice Mr. Braverman's annual
base salary at the end of the fiscal year, but the Committee retains discretion to adjust this target value.