In addition, pursuant to our outside director equity compensation policy, in the event of the termination of a non-employee director's service to the Board as a result of death, disability or retirement, all of the non-employee director's
equity compensation awards will become fully vested, provided that the non-employee director served as a member of the Board for at least three years prior to the date of termination and the non-employee director satisfied our equity ownership guidelines during his or her service as a Board member.
Not exact matches
Insist on tailored adjustments to account for risk and
compensation materializing before bonuses are
awarded and
equity vests.
The board also approved an estimated $ 900 million in repurchases to offset shares
awarded under
equity - based
compensation plans during the same period.
With stock
awards and options,
equity compensation programs can serve as additional ways to pay workers beyond wages or salaries.
In its proposal, the AFL - CIO argues, «In our view, the vesting of
equity awards that would otherwise be forfeited after a voluntary termination is a windfall payment, not a form of deferred
compensation for previous service.»
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.
The
Compensation Committee's authority to grant
equity awards may not be delegated to Apple's management or others.
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.
We
award only
equity - based
compensation to our independent directors.
One alternative to using
equity awards would be to significantly increase cash
compensation.
As described under «Item 4 — Approve the Amended and Restated Long - Term Incentive
Compensation Plan» on page 88 of this proxy statement, the Board is proposing to amend the LTICP to permit grants of
equity awards to non-employee 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.
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.
Additional information about the LTICP and other plans pursuant to which
awards in the form of shares of the Company's common stock may be made to directors and employees in exchange for goods or services is provided under «
Equity Compensation Plan Information.»
These include risks relating to setting ambitious targets for our employees»
compensation or the vesting of their
equity awards and the potential impact of such targets on the decision - making of our employees, particularly our senior management.
The following table sets forth the 2010
compensation for our independent directors as determined by SEC rules, which require us to include
equity awards granted during 2010.
After reviewing the revised peer group director
compensation data in June 2009, the committee 1) set pay for the new non-executive Chairman of the Board, 2) increased the value of the annual
equity award from $ 145,000 to $ 175,000, since the previous level of
compensation was deemed below the market median, and 3) changed the
equity grant vehicle from 100 % restricted stock units (RSUs) to 50 % RSUs and 50 % outperformance stock units (OSUs) in order to more closely align with the
equity package that Intel executives receive.
To the extent that in 2018 or any later year, the aggregate amount of any covered officer's salary, bonus, and amount realized from option exercises and vesting of restricted stock units or other
equity awards, and certain other
compensation amounts that are recognized as taxable income by the officer exceeds $ 1,000,000 in any year, we will not be entitled to a U.S. federal income tax deduction for the amount over $ 1,000,000 in that year.
Because all Tesla employees are provided
equity awards, this also means that Mr. Musk's
compensation is tied to the success of all Tesla employees.
Any significant increase in cash
compensation in lieu of
equity awards would reduce the cash otherwise available for operations and investment in our business.
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.
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.
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.
Additional information about the LTICP and other plans pursuant to which
awards in the form of shares of our common stock may be made to directors and employees in exchange for goods or services is provided under «
Equity Compensation Plan Information.»
Effective May 3, 2007, our director
equity compensation policy provides that non-employee directors» initial annual
equity awards shall be made in the form of RSUs.
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.
This
compensation data was ranked within the Labor Market Peer Group by the aggregate amount of annual salary, annual target and actual incentive
awards, plus the annualized grant date value of long - term cash and
equity compensation.
Fortunately, the metrics on which bonuses and
equity compensation are
awarded directly relate to ROIC.
Just before the Aetna deal was announced, Broussard's
compensation agreement was modified to accelerate
equity awards and remove restrictions on exercising some stock options if he leaves or is terminated within two years of any acquisition, a regulatory filing shows.
(2) Reflects 2015 Merger - related adjustments including the change to align Kraft to Kraft Heinz's accounting policy for postemployment benefit plans; incremental amortization resulting from the fair value adjustment of Kraft's definite - lived intangible assets; incremental
compensation expense due to the fair value remeasurement of certain of Kraft's
equity awards; and, certain deal costs related to the 2015 Merger.
For the calculation of diluted net loss per share, net loss per share attributable to common stockholders and preferred Series D, E, F, and FP preferred stockholders for basic net loss per share is adjusted by the effect of dilutive securities, including
awards under our
equity compensation plans.
In addition to the non-employee director
compensation policy, in connection with this offering, we adopted a director stock ownership policy encouraging non-employee directors to hold shares of our Class A common stock with a value equal to at least one times the fair value of the director's annual
equity award.
The table above does not include (i) 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 (x) 2,689,486 shares of Class A common stock issuable upon 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 — Director
Compensation» and «Executive
Compensation — New
Equity Awards,» and (y) 3,263,431 additional shares of Class A common stock reserved for future issuance and (ii) 24,269,792 shares of Class A common stock issuable to the Continuing SSE
Equity Owners upon redemption or exchange of their LLC Interests as described in «Certain Relationships and Related Party Transactions — SSE Holdings LLC Agreement.»
As a result of changes to the tax laws, we expect that
equity awards granted or other
compensation provided under arrangements entered into or materially modified on or after November 2, 2017 generally will not be deductible to the extent they result in
compensation to certain of our named executive officers for or after 2017 that exceeds $ 1 million in any one year for any such officer.
Harmonizing salary,
equity awards, and other
compensation benefits for executive officers hired under significantly different circumstances.
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.
In addition to the non-employee director
compensation policy, we intend to adopt a director stock ownership policy encouraging non-employee directors to hold shares of our Class A common stock with a value equal to at least one times the fair value of the director's annual
equity award.
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.
As of November 11, 2013, a total of 20.873 million shares of the Company's common stock were subject to all outstanding
awards granted under the Company's
equity compensation plans (including the shares then subject to outstanding
awards under the 2003 Plan and the Director Plan, as well as outstanding
awards assumed by the Company in connection with acquisitions, but exclusive of shares that employees may purchase under the Employee Stock Purchase Plan), of which 17.265 million shares were then subject to outstanding restricted stock unit
awards and 3.608 million shares were then subject to outstanding stock options.
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.
Adjusted EBITDA is defined as net income / (loss) from continuing operations before interest expense, other expense / (income), net, provision for / (benefit from) income taxes; in addition to these adjustments, the Company excludes, when they occur, the impacts of depreciation and amortization (excluding integration and restructuring expenses)(including amortization of postretirement benefit plans prior service credits), integration and restructuring expenses, merger costs, unrealized losses / (gains) on commodity hedges, impairment losses, losses / (gains) on the sale of a business, nonmonetary currency devaluation (e.g., remeasurement gains and losses), and
equity award compensation expense (excluding integration and restructuring expenses).
The
Compensation Committee, which administers the 2003 Plan and will administer the 2014 Plan, if approved, recognizes its responsibility to strike a balance between shareholder concerns regarding the potential dilutive effect of
equity awards and the ability to attract, retain and reward employees whose contributions are critical to the Company's long - term success.
For each position, this
compensation data was ranked within the Labor Market Peer Group by the aggregate amount of annual salary, annual target and actual incentive
awards, plus the annualized grant date value of long - term cash and
equity compensation.
In determining the size of
equity grants to our executives, our
compensation committee has historically considered our corporate performance, the applicable executive's performance and potential for enhancing the creation of value for our stockholders, the amount of
equity previously
awarded to the executive and the vesting of such
awards, the executive's position and, in the case of
awards to executive officers other than our chief
The
Compensation Committee's authority to grant
equity awards may not be delegated to the Company's management or others.