Schedule 14A


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Name 

Year  

Deferred

Compensation or

Discretionary

Lump Sum

Contributions 

401(k)

Company

Match 

Total  

Allan P. Merrill

2015

$100,000

$7,950

$107,950

Robert L. Salomon

2015

$50,000

$7,875

$57,875

Kenneth F. Khoury

2015

$50,000

$7,950

$57,950



37


Table of Contents
Grants of Plan-Based Awards

The following table shows information about eligible or granted plan-based awards for fiscal year 2015 to our NEOs.


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Award Type (1)

Grant Date

Estimated Future Payouts Under Non-Equity Incentive Plan Awards

All Other 

Stock 

Awards:

Number of 

Shares of 

Stock

or Units (#) 

All Other 

Option

Awards:

Number of 

Securities

Underlying Options (#)  

Exercise

or Base

Price of

Option

Awards

($/sh) 

Grant Date

Fair Value of

Stock and

Option 

Awards

($) (2)

 

Name

Threshold

Target

Maximum

 

 

Allan P. Merrill

BP

11/14/2014

$450,000

$1,350,000

$2,700,000









 

 

 

RS

11/14/2014







39,329





$750,004

 

 

 

PS (TSR)

11/14/2014







39,329





$750,004

 

 

 

PS (PTI)

11/14/2014







49,161





$937,500

 

 

Robert L. Salomon

BP

11/14/2014

$262,500

$525,000

$1,050,000









 

 

 

RS

11/14/2014







16,059





$306,245

 

 

 

PS (TSR)

11/14/2014







16,059





$306,245

 

 

 

PS (PTI)

11/14/2014







20,074





$382,811

 

 

Kenneth F. Khoury

BP

11/14/2014

$262,500

$525,000

$1,050,000









 

 

 

RS

11/14/2014







16,059





$306,245

 

 

 

PS (TSR)

11/14/2014







16,059





$306,245

 

 

 

PS (PTI)

11/14/2014







20,074





$382,811

 

 

_______________________

 

 

(1)

Award Type: BP = cash award under 2015 Bonus Plan, RS = time-based restricted stock, PS (TSR) = TSR performance shares, PS (PTI) = pre-tax income performance shares.

 

 

(2)

See footnote 1 to the Summary Compensation Table above for an explanation of the calculation of the grant date fair value of the applicable awards.

Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table

Equity Incentive Plan Awards

Grants of equity incentive plan awards for fiscal year 2015 and the full grant date fair value (determined in accordance with ASC 718) of such awards are disclosed in the Grants of Plan-Based Awards table above. Whether, and to what extent, an NEO realizes value upon vesting/exercise will depend on a number of factors, including our performance and stock price. See footnotes 1 and 2 to the Summary Compensation Table above.

Historically, we have utilized four equity-based, long-term incentives: stock options, SSARs, time-based restricted stock and performance-based restricted stock pursuant to our 1999 and 2010 Equity Incentive Plans and our 2014 Long-Term Incentive Plan. For fiscal year 2015, only performance-based restricted stock (TSR performance shares and pre-tax income performance shares) and time-based restricted stock was awarded. The fiscal year 2015 equity awards vest as follows:

 

 



TSR performance shares granted in fiscal year 2015 vest three years from the grant date only if certain relative performance requirements are met. See “Compensation Discussion and Analysis — Elements of Fiscal Year 2015 Executive Compensation — Long-Term Incentive Compensation” and below under “Outstanding Equity Awards at Fiscal Year End” for more information on the vesting requirements for these TSR performance shares.

 

 



Pre-tax income performance shares granted in fiscal year 2015 vest three years from the grant date only if certain absolute performance requirements are met. See “Compensation Discussion and Analysis — Elements of Fiscal Year 2015 Executive Compensation — Long-Term Incentive Compensation” and below under “Outstanding Equity Awards at Fiscal Year End” for more information on the vesting requirements for these pre-tax income performance shares.

 

 



Time-based restricted stock awards granted in fiscal year 2015 vest ratably over a three-year period, beginning with the first anniversary of the grant date.
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