Proxy Statement Pursuant to Sectionof the Securities Exchange Act ofOF THE SECURITIES
Preliminary Proxy Statement
Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
Definitive Proxy Statement
Definitive Additional Materials
Soliciting Material Pursuant to §240.14a-12Strayer Education, Inc.(Name of Registrant as Specified in Its Charter)N/A(Name of Person(s) Filing Proxy Statement, if other than the Registrant)þ No fee required. o Fee computed on table below per Exchange ActRules 14a-6(i)(1) and 0-11. 1) Title of each class of securities to which transaction applies: 2) Aggregate number of securities to which transaction applies: 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule
0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):4) Proposed maximum aggregate value of transaction: 5) Total fee paid: o Fee paid previously with preliminary materials. o Check box if any part of the fee is offset as provided by Exchange ActRule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid: 2) Form, Schedule or Registration Statement No.: 3) Filing Party: 4) Date Filed: Table of Contents
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NOTICE OF ANNUAL MEETING OF STOCKHOLDERS | ||||||||
PROXY STATEMENT | ||||||||
PROPOSAL 1 | ||||||||
BENEFICIAL OWNERSHIP OF COMMON STOCK | ||||||||
COMPENSATION COMMITTEE REPORT | ||||||||
AUDIT COMMITTEE REPORT | ||||||||
PROPOSAL 2 | ||||||||
PROPOSAL 3 |
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March 27, 2008
STRAYER EDUCATION, INC.
1100 Wilson Blvd., Suite 2500
Arlington, VA 22209
(703) 247-2500
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1. | To elect |
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2. | To ratify the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the Corporation. |
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3. | To re-authorize the Employee Stock Purchase Plan for an additional ten (10) years. | |
4. | To consider and act upon such other business as may properly come before the meeting. |
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23, 2009 28, 2009:
Secretary27, 200829, 2008:overview.cfm.overview.cfm.
1
A common stockholder may, with respect to the election of directors, (1) vote for the election of all named director nominees, (2) withhold authority to vote for all named director nominees or (3) vote for
the election of all named director nominees other than any nominee with respect to whom the stockholder withholds authority to vote by so indicating in the appropriate space on the proxy card. A form of proxy card is attached hereto as Exhibit A.
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Nominees for Common Stock Directors
Year first | Ownership | |||||||||||||||||||||||||
Board | elected to | Common | Restricted | Vested | Unvested | |||||||||||||||||||||
Name/Title | Age | Committees | Strayer Board | Stock | Stock | Options(a) | Options | |||||||||||||||||||
Robert S. Silberman, | 51 | — | 2001 | 6,309 | 183,680 | 100,000 | 0 | |||||||||||||||||||
Chairman & CEO | ||||||||||||||||||||||||||
Dr. Charlotte F. Beason, | 61 | Nominating/ | 1996 | 3,811 | 560 | 0 | 0 | |||||||||||||||||||
Director | Governance | |||||||||||||||||||||||||
William E. Brock, | 78 | Nominating/ | 2001 | 3,361 | 560 | 0 | 0 | |||||||||||||||||||
Director | Governance | |||||||||||||||||||||||||
David A. Coulter,(b) | 61 | — | 2002 | 4,315 | 1,115 | 0 | 0 | |||||||||||||||||||
Director | ||||||||||||||||||||||||||
Robert R. Grusky, | 51 | Audit | 2001 | 1,751 | 699 | 0 | 0 | |||||||||||||||||||
Director | ||||||||||||||||||||||||||
Robert L. Johnson, | 62 | Compensation | 2003 | 6,056 | 1,115 | 6,667 | 0 | |||||||||||||||||||
Director | ||||||||||||||||||||||||||
Todd A. Milano, | 56 | Compensation | 1996 | 1,812 | 934 | 0 | 0 | |||||||||||||||||||
Director | ||||||||||||||||||||||||||
G. Thomas Waite, III, | 57 | Audit | 1996 | 3,289 | 560 | 0 | 0 | |||||||||||||||||||
Director | ||||||||||||||||||||||||||
J. David Wargo, | 55 | Audit/ | 2001 | 361 | 560 | 0 | 0 | |||||||||||||||||||
Director | Compensation |
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() |
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | Ownership | ||||||||||||||||||||||||||||||||||
Name/Title | ![]() | ![]() | Age | ![]() | ![]() | Board Committees | ![]() | ![]() | Year first elected to Strayer Board | ![]() | ![]() | Common Stock | ![]() | ![]() | Restricted Stock | ![]() | ![]() | Vested Options(a) | ![]() | ![]() | Unvested Options | |||||||||||||||||||||
Robert S. Silberman, | ![]() | ![]() | ![]() | ![]() | 50 | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | 2001 | ![]() | ![]() | ![]() | ![]() | ![]() | 6,277 | ![]() | ![]() | ![]() | ![]() | ![]() | 131,478 | ![]() | ![]() | ![]() | ![]() | ![]() | 100,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 100,000 | ![]() |
Chairman & CEO | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||||||
Dr. Charlotte F. Beason, | ![]() | ![]() | ![]() | ![]() | 60 | ![]() | ![]() | ![]() | Nominating/ | ![]() | ![]() | ![]() | ![]() | 1996 | ![]() | ![]() | ![]() | ![]() | ![]() | 3,579 | ![]() | ![]() | ![]() | ![]() | ![]() | 569 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | |||
Director | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | Governance | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||||||||
William E. Brock, | ![]() | ![]() | ![]() | ![]() | 77 | ![]() | ![]() | ![]() | Nominating/ | ![]() | ![]() | ![]() | ![]() | 2001 | ![]() | ![]() | ![]() | ![]() | ![]() | 3,129 | ![]() | ![]() | ![]() | ![]() | ![]() | 569 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | |||
Director | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | Governance | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||||||||
David A. Coulter,(b) | ![]() | ![]() | ![]() | ![]() | 60 | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | 2002 | ![]() | ![]() | ![]() | ![]() | ![]() | 254 | ![]() | ![]() | ![]() | ![]() | ![]() | 1,131 | ![]() | ![]() | ![]() | ![]() | ![]() | 10,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | |||
Director | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||||||||
Gary Gensler, | ![]() | ![]() | ![]() | ![]() | 50 | ![]() | ![]() | ![]() | Audit | ![]() | ![]() | ![]() | ![]() | 2001 | ![]() | ![]() | ![]() | ![]() | ![]() | 10,129 | ![]() | ![]() | ![]() | ![]() | ![]() | 569 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | |||
Director | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||||||||
Robert R. Grusky, | ![]() | ![]() | ![]() | ![]() | 50 | ![]() | ![]() | ![]() | Audit | ![]() | ![]() | ![]() | ![]() | 2001 | ![]() | ![]() | ![]() | ![]() | ![]() | 1,261 | ![]() | ![]() | ![]() | ![]() | ![]() | 711 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | |||
Director | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||||||||
Robert L. Johnson, | ![]() | ![]() | ![]() | ![]() | 61 | ![]() | ![]() | ![]() | Compensation | ![]() | ![]() | ![]() | ![]() | 2003 | ![]() | ![]() | ![]() | ![]() | ![]() | 5,595 | ![]() | ![]() | ![]() | ![]() | ![]() | 1,131 | ![]() | ![]() | ![]() | ![]() | ![]() | 6,667 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | |||
Director | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||||||||
Todd A. Milano, | ![]() | ![]() | ![]() | ![]() | 55 | ![]() | ![]() | ![]() | Compensation | ![]() | ![]() | ![]() | ![]() | 1996 | ![]() | ![]() | ![]() | ![]() | ![]() | 11,074 | ![]() | ![]() | ![]() | ![]() | ![]() | 1,013 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | |||
Director | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||||||||
G. Thomas Waite, III, | ![]() | ![]() | ![]() | ![]() | 56 | ![]() | ![]() | ![]() | Audit | ![]() | ![]() | ![]() | ![]() | 1996 | ![]() | ![]() | ![]() | ![]() | ![]() | 3,157 | ![]() | ![]() | ![]() | ![]() | ![]() | 569 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | |||
Director | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||||||||
J. David Wargo, | ![]() | ![]() | ![]() | ![]() | 54 | ![]() | ![]() | ![]() | Compensation | ![]() | ![]() | ![]() | ![]() | 2001 | ![]() | ![]() | ![]() | ![]() | ![]() | 129 | ![]() | ![]() | ![]() | ![]() | ![]() | 569 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | |||
Director | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() |
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Or will vest within 60 days of the date of this proxy statement. |
(b) | Mr. Coulter is presently serving as the Board’s Presiding Independent Director. |
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Mr. Robert S. Silberman | ![]() | has been Chairman of the Board since February 2003 and Chief Executive Officer since March 2001. From 1995 to 2000, Mr. Silberman served in a variety of senior management positions at CalEnergy Company, Inc., including as President and Chief Operating Officer. From 1993 to 1995, Mr. Silberman was Assistant to the Chairman and Chief Executive Officer of International Paper Company. From 1989 to 1993, Mr. Silberman served in several senior positions in the U.S. Department of Defense, including as Assistant Secretary of the Army. Mr. Silberman has been a Director of Strayer since March 2001. He serves on the Board of Directors of Covanta Holding Company and on the Management Advisory Board of New Mountain Capital, LLC. He also serves on the Board of Visitors of The Johns Hopkins University School of Advanced International Studies. Mr. Silberman is a member of the Council on Foreign Relations. Mr. Silberman holds a bachelor’s degree in history from Dartmouth College and a master’s degree in international policy from The Johns Hopkins University. |
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Dr. Charlotte F. Beason | ![]() | is a former consultant in education and health care administration. From 1988 to 1996, she was Director of Health Professions Education Service and the Health Professional Scholarship Program at the Department of Veterans Affairs. From 2000 to 2003, Dr. Beason was Chair and Vice Chair of the Commission on Collegiate Nursing Education (an autonomous agency accrediting baccalaureate and graduate programs in nursing); she currently serves as an evaluator for the Commission on Collegiate Nursing Education. Dr. Beason has served on the Board since 1996 and is a member of the Nominating/Governance Committee of the Board. She is also Chairwoman of the Strayer University Board of Trustees. Dr. Beason holds a bachelor’s degree in nursing from Berea College, a master’s degree in psychiatric nursing from Boston University and a doctorate in clinical psychology and public practice from Harvard University. |
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Mr. William E. Brock | ![]() | is the Founder and Chairman of the Brock Offices, a firm specializing in international trade, investment and human resources. From 1985 to 1987, Mr. Brock served in the President’s Cabinet as the U.S. Secretary of Labor, and from 1981 to 1985, as the U.S. Trade Representative. Elected Chairman of the Republican National Committee from 1977 to 1981, Mr. Brock previously served as a Member of Congress and, subsequently, as U.S. Senator for the State of Tennessee. Mr. Brock serves as a Counselor and Trustee of the Center for Strategic and International Studies, and as a member of the Board of Directors of On Assignment, Inc., Health Extras, Inc., and ResCare, Inc. Mr. Brock has been a member of the Board since 2001 and is Chair of the Nominating/Governance Committee of the Board. He holds a bachelor’s degree in commerce from Washington and Lee University. Mr. Brock has also received a number of honorary degrees. |
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Mr. David A. Coulter | ![]() | is currently Managing Director and Senior Advisor at Warburg Pincus, LLC. He was Vice Chairman of J.P. Morgan Chase & Co. from December 2000 to December 2005. Mr. Coulter was Vice Chairman of The Chase Manhattan Corporation from July 2000 to December 2000. Prior to joining Chase, Mr. Coulter led the West Coast operations of the Beacon Group, a private investment and strategic advisory firm, and prior to that, Mr. Coulter served as the Chairman and Chief Executive Officer of the BankAmerica Corporation. Mr. Coulter is a member of the Board of Directors of |
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Mr. Robert R. Grusky | ![]() | is the Founder and Managing Member of Hope Capital Management, LLC, an investment manager, since 2000. He co-founded New Mountain Capital, LLC, a private equity firm, in 2000 and was a Principal and Member from 2000 to 2005, and has been a Senior Advisor since then. From 1998 to 2000, Mr. Grusky served as President of RSL Investments Corporation. From 1985 to 1997, with the exception of 1990 to 1991 when he was on a leave of absence to serve as a White House Fellow and Assistant for Special Projects to the Secretary of Defense, Mr. Grusky served in a variety of capacities at Goldman, Sachs & Co., first in its Mergers & Acquisitions Department and then in its Principal Investment Area. He is also on the Board of Directors of AutoNation, Inc., and |
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Mr. Robert L. Johnson | ![]() | is the |
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![]() | Columbia. He also serves on the following boards: KB Home, Lowe’s Companies, Inc., NBA Board of Governors, Deutsche Bank Advisory Committee, The Business Council, The Johns Hopkins University, | |
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Mr. Todd A. Milano | ![]() | has been President and Chief Executive Officer of Central Pennsylvania College since 1989. Mr. Milano has served on the Board since 1996, is a member of the Compensation Committee of the Board and is also a member of the Strayer University Board of Trustees. Mr. Milano holds a bachelor’s degree in industrial management from Purdue University. |
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Mr. G. Thomas Waite, III | ![]() | has been Treasurer and Chief Financial Officer of the Humane Society of the United States since 1993. In 1992, Mr. Waite was the Director of Commercial Management of The National Housing Partnership. Mr. Waite has served on the Board since 1996, is a member of the Audit Committee of the Board and is a former member of the Strayer University Board of Trustees. Mr. Waite holds a bachelor’s degree in commerce from the University of Virginia and is a Certified Public Accountant. |
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Mr. J. David Wargo | ![]() | has been President of Wargo and Company, Inc., an investment management company, since 1993. Mr. Wargo is a |
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Nominating/ | |||||||||||||||||||||
Director’s Name | ![]() | ![]() | Audit | ![]() | ![]() | Compensation | ![]() | ![]() | |||||||||||||
Robert S. Silberman | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||||||||||||||
Charlotte F. Beason | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | X | ||||||||||||||
William E. Brock | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | X | ||||||||||||||
David A. Coulter | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||||||||||||||
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Robert R. Grusky | ![]() | ![]() | X | ![]() | ![]() | ![]() | ![]() | ||||||||||||||
Robert L. Johnson | ![]() | ![]() | ![]() | ![]() | X | ![]() | ![]() | ||||||||||||||
Todd A. Milano | ![]() | ![]() | ![]() | ![]() | X | ![]() | ![]() | ||||||||||||||
G. Thomas Waite, III | ![]() | ![]() | X | ![]() | ![]() | ![]() | ![]() | ||||||||||||||
J. David Wargo | ![]() | ![]() | ![]() | ![]() | X | ![]() | ![]() | ||||||||||||||
2007,2008, the Audit Committee was composed of Messrs. Gensler1 (Chair), Grusky and Waite. On February 2, 2009, Mr. Gensler resigned from the Board of Directors and the Audit Committee due to his nomination by President Barack Obama to serve as Chair of the Commodities Futures Trading Commission. On February 10, 2009, the Board of Directors elected J. David Wargo to serve on the Audit Committee. Also on February 10, 2009, the Board of Directors appointed Mr. Grusky, a current member of the Audit Committee, as Chair of the Audit Committee. The Committee performs a variety of tasks, including being directly responsible for the appointment, compensation and oversight of the Corporation’s independent registered public accounting firm, reviewing the Corporation’s accounting policies and reviewing the Corporation’s unaudited quarterly earnings releases
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2008.Committee.Committee. For the year ended December 31, 2007,2008, the Nominating/Governance Committee (the ‘‘Nominating Committee’’“Nominating Committee”) was composed of Mr. Brock (Chair) and Dr. Beason. The Board has determined that all of the members of the Nominating Committee are independent, as independence is defined under the NASDAQ Listing Standards. The Nominating Committee is responsible for establishing qualifications for potential directors and considering and recommending prospective candidates for Board membership. The Nominating Committee met twicethree times during the year ended December 31, 2007.–— Corporate Communications, 1100 Wilson Blvd., Suite 2500, Arlington, VA 22209,(703) 247-2500. In addition, the Nominating Committee charter is available on the Corporation’s website, www.strayereducation.com.
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April 29, 2008.
8
9
Options Currently | ||||||||||||||||
Common Stock | Exercisable or | |||||||||||||||
Beneficially | Exercisable | Percentage | ||||||||||||||
Name of Beneficial Owner | Owned | within 60 Days | Total | Owned | ||||||||||||
Stockholders: | ||||||||||||||||
Fidelity Management & Research Company(a) | 1,783,625 | 0 | 1,783,625 | 12.6 | % | |||||||||||
Baron Capital Group, Inc.(b) | 1,278,600 | 0 | 1,278,600 | 9.0 | % | |||||||||||
Barclays Global Investors NA(c) | 774,854 | 0 | 774,854 | 5.4 | % | |||||||||||
Directors: | ||||||||||||||||
Robert S. Silberman(d) | 189,989 | 100,000 | 289,989 | 2.0 | % | |||||||||||
Dr. Charlotte F. Beason | 4,371 | 0 | 4,371 | * | ||||||||||||
William E. Brock | 3,921 | 0 | 3,921 | * | ||||||||||||
David A. Coulter | 5,430 | 0 | 5,430 | * | ||||||||||||
Robert R. Grusky | 2,450 | 0 | 2,450 | * | ||||||||||||
Robert L. Johnson | 7,171 | 6,667 | 13,838 | * | ||||||||||||
Todd A. Milano | 2,746 | 0 | 2,746 | * | ||||||||||||
G. Thomas Waite, III | 3,849 | 0 | 3,849 | * | ||||||||||||
J. David Wargo | 921 | 0 | 921 | * | ||||||||||||
Named Executive Officers: | ||||||||||||||||
Karl McDonnell(e) | 69,469 | 0 | 69,469 | * | ||||||||||||
Mark C. Brown(f) | 14,303 | 25,417 | 39,720 | * | ||||||||||||
Lysa A. Hlavinka(g) | 18,171 | 15,000 | 33,171 | * | ||||||||||||
Gregory Ferenbach(h) | 4,203 | 0 | 4,203 | * | ||||||||||||
All Executive Officers and Directors (14 persons) | 332,191 | 147,084 | 479,275 | 3.4 | % |
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Name of Beneficial Owner | ![]() | ![]() | Common Stock Beneficially Owned | ![]() | ![]() | Options Currently Exercisable or Exercisable within 60 Days | ![]() | ![]() | Total | ![]() | ![]() | Percentage Owned | ||||||||||||
Stockholders: | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||
Baron Capital Group, Inc.(a) | ![]() | ![]() | ![]() | ![]() | 1,430,124 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 1,430,124 | ![]() | ![]() | ![]() | ![]() | ![]() | 10.1 | % |
Morgan Stanley(b) | ![]() | ![]() | ![]() | ![]() | 842,188 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 842,188 | ![]() | ![]() | ![]() | ![]() | ![]() | 5.9 | % |
Neuberger Berman LLC(c) | ![]() | ![]() | ![]() | ![]() | 778,460 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 778,460 | ![]() | ![]() | ![]() | ![]() | ![]() | 5.5 | % |
Directors: | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||
Robert S. Silberman(d) | ![]() | ![]() | ![]() | ![]() | 137,755 | ![]() | ![]() | ![]() | ![]() | ![]() | 100,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 237,755 | ![]() | ![]() | ![]() | ![]() | ![]() | 1.7 | % |
Dr. Charlotte F. Beason | ![]() | ![]() | ![]() | ![]() | 4,148 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 4,148 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
William E. Brock | ![]() | ![]() | ![]() | ![]() | 3,698 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 3,698 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
David A. Coulter | ![]() | ![]() | ![]() | ![]() | 1,385 | ![]() | ![]() | ![]() | ![]() | ![]() | 10,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 11,385 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
Gary Gensler | ![]() | ![]() | ![]() | ![]() | 10,698 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 10,698 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
Robert R. Grusky | ![]() | ![]() | ![]() | ![]() | 1,972 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 1,972 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
Robert L. Johnson | ![]() | ![]() | ![]() | ![]() | 6,726 | ![]() | ![]() | ![]() | ![]() | ![]() | 6,667 | ![]() | ![]() | ![]() | ![]() | ![]() | 13,393 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
Todd A. Milano | ![]() | ![]() | ![]() | ![]() | 12,087 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 12,087 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
G. Thomas Waite, III | ![]() | ![]() | ![]() | ![]() | 3,726 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 3,726 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
J. David Wargo | ![]() | ![]() | ![]() | ![]() | 698 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 698 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
Executive Officers: | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||
Karl McDonnell(e) | ![]() | ![]() | ![]() | ![]() | 23,549 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 23,549 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
Mark C. Brown(f) | ![]() | ![]() | ![]() | ![]() | 12,977 | ![]() | ![]() | ![]() | ![]() | ![]() | 10,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 22,977 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
Lysa A. Hlavinka(g) | ![]() | ![]() | ![]() | ![]() | 17,034 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 17,034 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
Gregory Ferenbach(h) | ![]() | ![]() | ![]() | ![]() | 6,297 | ![]() | ![]() | ![]() | ![]() | ![]() | 0 | ![]() | ![]() | ![]() | ![]() | ![]() | 6,297 | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | * |
All Executive Officers and Directors (19 persons) | ![]() | ![]() | ![]() | ![]() | 271,345 | ![]() | ![]() | ![]() | ![]() | ![]() | 129,667 | ![]() | ![]() | ![]() | ![]() | ![]() | 401,012 | ![]() | ![]() | ![]() | ![]() | ![]() | 2.8 | % |
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represents amounts less than 1% |
(a) | Based on a Schedule 13G filed with the SEC on February 12, 2009. Fidelity Management & Research Company, a wholly-owned subsidiary of FMR LLC, is an investment adviser with respect to these shares for the accounts of other persons who have the right to receive, and the power to direct the receipt of dividends from, or the proceeds from the sale of, such shares of common stock. The address is: 82 Devonshire Street, Boston, Massachusetts 02109. | |
(b) | Based on a Schedule 13G/A filed with the SEC on February |
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(c) | Based on a Schedule 13G filed with the SEC on February |
(d) | Includes |
(e) | Includes 20,192 restricted shares which were granted on July 25, 2006 and which vest 100% on July 25, 2010, subject to the satisfaction of certain performance criteria. The amount also includes 1,056 restricted shares which were granted on February 13, 2007 and which vest 100% on February 13, 2010. The amount also includes 1,851 shares of restricted stock, which were granted on February 12, 2008 and which vest 100% on February 12, 2011. The amount also includes 45,920 restricted shares which were granted on February 10, 2009 and which vest 100% on February 10, 2014, subject to the satisfaction of certain performance criteria. Mr. McDonnell has the right to vote these shares and receive cash dividends thereon during the restriction periods. |
(f) | Includes 3,518 restricted shares which were granted on February 13, 2007 and which vest 100% on February 13, 2010. The amount also includes 7,651 shares of restricted stock which were granted on February 12, 2008. Of the 7,651 restricted shares, 1,481 shares vest 100% on February 12, 2011 and 6,170 shares vest 100% on February 12, 2013. The amount also includes 1,240 restricted shares which were granted on February 10, 2009 and which vest 100% on February 10, 2012. Mr. Brown has the right to vote these shares and receive cash dividends thereon during the restriction period. |
(g) | Includes 7,500 restricted shares which were granted on February 14, 2006 and which vest 100% on February 14, 2010. The amount also includes 1,583 restricted shares which were granted on February 13, 2007 and which vest 100% on February 13, 2010. The amount also includes 7,343 shares of restricted stock, which were granted on February 12, 2008. Of the 7,343 restricted shares, 1,173 shares vest 100% on February 12, 2011 and 6,170 shares vest 100% on February 12, 2013. The amount also includes 1,102 restricted shares which were granted on February 10, 2009 and which vest 100% on February 10, 2012. Ms. Hlavinka has the right to vote these shares and receive cash dividends thereon during the restriction periods. |
(h) | Includes |
Compensation Discussion and Analysis
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1. | The Corporation believes that compensation of the Corporation’s key executives should be sufficient to attract and retain highly qualified and productive personnel, as well as to enhance productivity and encourage and reward superior performance. |
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2. | It is the policy of the Corporation that the three primary components of the Corporation’s total compensation package (salary, bonus, and equity grants) will be considered in the aggregate in determining the amount of any one component. |
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3. | The Corporation seeks to reward achievement of specific long and short-term individual and corporate performance goals by authorizing annual cash bonuses. |
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4. | The Corporation believes that it should make both initial equity grants to key executive officers upon their commencement of employment, and that it should, subject to achievement of certain financial, |
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operational, and individual objectives, make additional annual equity grants in order to retain, motivate, and align the interests of those key executive officers with stockholders. |
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5. | The criteria used for assessing executive performance in any year is |
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6. | The Corporation’s guiding principles are focused on encouraging officers and directors to think like owners. To this end, the Corporation recommends: |
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i. | Senior officers purchase outright in the market and hold during their term of employment a meaningful number of common shares; and |
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ii. | Senior officers hold at least 75% of any granted stock options without exercise during the term of the stock options. |
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7. | The Corporation believes that annual grants of restricted stock are generally preferable as an equity compensation vehicle and more suited to our long-term business model than larger sporadic grants of stock options. This is so because shares of restricted stock have an intrinsic value when granted (as opposed to options) and therefore, the employee holding restricted stock shares a downside risk to such value with other owners of the Corporation’s common stock. |
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8. | Although the Compensation Committee generally reviews publicly available industry data when reviewing annual compensation, the Compensation Committee does not specifically use companies in the same industry as the basis for establishing the compensation of the Corporation’s executive officers nor does the Compensation Committee peg salary levels to any given quartile in our industry or other industries. Instead, the Compensation Committee attempts to make reasoned judgments of compensation levels for executives as influenced by all relevant market forces. |
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i. | The Corporation’s achievement of annual goals and objectives set by the full Board of Directors in the preceding year, |
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ii. | Short term and long term performance of the Corporation, and |
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iii. | CEO compensation level at comparable companies. |
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i. | Performance of the executive officers in light of relevant goals and objectives approved by the Compensation Committee |
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ii. | Short term and long term performance of the Corporation, |
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iii. | Executive compensation level at comparable companies, and |
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iv. | The recommendations of the CEO. |
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• | Salary – Salaries for executives other than the CEO are reviewed, approved, and recommended to the full Board annually by the Compensation Committee upon recommendation of the CEO. The CEO’s salary is specified in his employment agreement (see |
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• | Bonus – Payment of an annual cash bonus to executives is at the discretion of the Compensation Committee and is subject to Board approval. It is designed to compensate executives for superior performance against |
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• | Equity-based Compensation Programs – The |
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• | Perquisites and Other Personal Benefits – The Corporation does not offer any perquisites except for reimbursement of relocation expenses including taxgross-ups, when applicable. This perquisite is offered to any named executive officer hired from a different location to encourage prospective executives to relocate. |
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• | Employment Agreements, Change in Control Agreements, and Severance Plans – Robert S. Silberman, the Corporation’s Chairman and Chief Executive Officer, has an employment agreement with the Corporation which had an initial term of approximately three years (ending |
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on December 31, 2004), and thereafter, automatically extends for successive one-year periods unless either the Corporation or Mr. Silberman provides timely notice to the contrary. Mr. Silberman’s employment agreement currently provides for a base salary of |
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• | Retirement and Deferred Compensation Plans – The Corporation maintains a retirement plan (the |
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i. | Senior officers purchase outright in the market and hold during their term of employment a meaningful number of common shares; and |
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ii. | Senior officers hold at least 75% of any granted stock options without exercise during the term of the stock options. |
Summary Compensation
2008.
All Other | ||||||||||||||||||||||||||||
Year | Salary | Bonus | Stock Awards(b) | Option Awards(b) | Compensation(c) | Total | ||||||||||||||||||||||
Robert S. Silberman | 2008 | $ | 665,000 | $ | 495,000 | $ | 4,833,000 | $ | 1,034,000 | $ | 960,808 | $ | 7,987,808 | |||||||||||||||
Chairman & CEO | 2007 | $ | 630,000 | $ | 600,000 | $ | 5,273,000 | $ | 1,034,000 | $ | 444,065 | $ | 7,981,065 | |||||||||||||||
2006 | $ | 600,000 | $ | 500,000 | $ | 3,515,000 | $ | 1,123,000 | $ | 571,295 | $ | 6,309,295 | ||||||||||||||||
Karl McDonnell(a) | 2008 | $ | 300,000 | $ | 360,000 | $ | 628,000 | $ | — | $ | 89,032 | $ | 1,377,032 | |||||||||||||||
President & COO | 2007 | $ | 246,000 | $ | 300,000 | $ | 535,000 | $ | — | $ | 36,888 | $ | 1,117,888 | |||||||||||||||
2006 | $ | 118,000 | $ | 100,000 | $ | 218,000 | $ | — | $ | 95,145 | $ | 531,145 | ||||||||||||||||
Mark C. Brown | 2008 | $ | 250,000 | $ | 250,000 | $ | 380,000 | $ | 263,000 | $ | 57,936 | $ | 1,200,936 | |||||||||||||||
Executive VP & CFO | 2007 | $ | 238,000 | $ | 250,000 | $ | 117,000 | $ | 260,000 | $ | 45,882 | $ | 910,882 | |||||||||||||||
2006 | $ | 226,000 | $ | 175,000 | $ | — | $ | 272,000 | $ | 90,544 | $ | 763,544 | ||||||||||||||||
Lysa A. Hlavinka | 2008 | $ | 214,000 | $ | 200,000 | $ | 464,000 | $ | 200,000 | $ | 53,056 | $ | 1,131,056 | |||||||||||||||
Executive VP & Chief | 2007 | $ | 190,000 | $ | 190,000 | $ | 224,000 | $ | 270,000 | $ | 19,521 | $ | 893,521 | |||||||||||||||
Administrative Officer | 2006 | $ | 181,000 | $ | 130,000 | $ | 150,000 | $ | 288,000 | $ | 25,673 | $ | 774,673 | |||||||||||||||
Gregory Ferenbach | 2008 | $ | 200,000 | $ | 150,000 | $ | 234,000 | $ | — | $ | 34,093 | $ | 618,093 | |||||||||||||||
Senior VP & General | 2007 | $ | 190,000 | $ | 140,000 | $ | 274,000 | $ | — | $ | 17,706 | $ | 621,706 | |||||||||||||||
Counsel | 2006 | $ | 186,000 | $ | 70,000 | $ | 122,000 | $ | 100,000 | $ | 9,045 | $ | 487,045 |
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() |
![]() | ![]() | Year | ![]() | ![]() | Salary | ![]() | ![]() | Bonus | ![]() | ![]() | Stock Awards(b) | ![]() | ![]() | Option Awards(b) | ![]() | ![]() | All Other Compen- sation(c) | ![]() | ![]() | Total | ||||||||||||||||||||||
Robert S. Silberman | ![]() | ![]() | ![]() | ![]() | 2007 | ![]() | ![]() | ![]() | ![]() | $ | 630,000 | ![]() | ![]() | ![]() | ![]() | $ | 600,000 | ![]() | ![]() | ![]() | ![]() | $ | 5,273,000 | ![]() | ![]() | ![]() | ![]() | $ | 1,034,000 | ![]() | ![]() | ![]() | ![]() | $ | 444,065 | ![]() | ![]() | ![]() | ![]() | $ | 7,981,065 | ![]() |
Chairman & CEO | ![]() | ![]() | ![]() | ![]() | 2006 | ![]() | ![]() | ![]() | ![]() | $ | 600,000 | ![]() | ![]() | ![]() | ![]() | $ | 500,000 | ![]() | ![]() | ![]() | ![]() | $ | 3,515,000 | ![]() | ![]() | ![]() | ![]() | $ | 1,123,000 | ![]() | ![]() | ![]() | ![]() | $ | 571,295 | ![]() | ![]() | ![]() | ![]() | $ | 6,309,295 | ![]() |
![]() | ![]() | ![]() | ![]() | 2005 | ![]() | ![]() | ![]() | ![]() | $ | 600,000 | ![]() | ![]() | ![]() | ![]() | $ | 350,000 | ![]() | ![]() | ![]() | ![]() | $ | 0 | ![]() | ![]() | ![]() | ![]() | $ | 1,614,000 | ![]() | ![]() | ![]() | ![]() | $ | 6,300 | ![]() | ![]() | ![]() | ![]() | $ | 2,570,300 | ![]() | |
Karl McDonnell(a) | ![]() | ![]() | ![]() | ![]() | 2007 | ![]() | ![]() | ![]() | ![]() | $ | 246,000 | ![]() | ![]() | ![]() | ![]() | $ | 300,000 | ![]() | ![]() | ![]() | ![]() | $ | 535,000 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 36,888 | ![]() | ![]() | ![]() | ![]() | $ | 1,117,888 | ![]() |
President & COO | ![]() | ![]() | ![]() | ![]() | 2006 | ![]() | ![]() | ![]() | ![]() | $ | 118,000 | ![]() | ![]() | ![]() | ![]() | $ | 100,000 | ![]() | ![]() | ![]() | ![]() | $ | 218,000 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 95,145 | ![]() | ![]() | ![]() | ![]() | $ | 531,145 | ![]() |
![]() | ![]() | ![]() | ![]() | 2005 | ![]() | ![]() | ![]() | N/A | ![]() | ![]() | N/A | ![]() | ![]() | ![]() | $ | N/A | ![]() | ![]() | ![]() | N/A | ![]() | ![]() | N/A | ![]() | ![]() | N/A | ||||||||||||||||
Mark C. Brown | ![]() | ![]() | ![]() | ![]() | 2007 | ![]() | ![]() | ![]() | ![]() | $ | 238,000 | ![]() | ![]() | ![]() | ![]() | $ | 250,000 | ![]() | ![]() | ![]() | ![]() | $ | 117,000 | ![]() | ![]() | ![]() | ![]() | $ | 260,000 | ![]() | ![]() | ![]() | ![]() | $ | 45,882 | ![]() | ![]() | ![]() | ![]() | $ | 910,882 | ![]() |
Executive VP & CFO | ![]() | ![]() | ![]() | ![]() | 2006 | ![]() | ![]() | ![]() | ![]() | $ | 226,000 | ![]() | ![]() | ![]() | ![]() | $ | 175,000 | ![]() | ![]() | ![]() | ![]() | $ | 0 | ![]() | ![]() | ![]() | ![]() | $ | 272,000 | ![]() | ![]() | ![]() | ![]() | $ | 90,544 | ![]() | ![]() | ![]() | ![]() | $ | 763,544 | ![]() |
![]() | ![]() | ![]() | ![]() | 2005 | ![]() | ![]() | ![]() | ![]() | $ | 220,000 | ![]() | ![]() | ![]() | ![]() | $ | 165,000 | ![]() | ![]() | ![]() | ![]() | $ | 0 | ![]() | ![]() | ![]() | ![]() | $ | 301,000 | ![]() | ![]() | ![]() | ![]() | $ | 6,200 | ![]() | ![]() | ![]() | ![]() | $ | 692,200 | ![]() | |
Lysa A. Hlavinka | ![]() | ![]() | ![]() | ![]() | 2007 | ![]() | ![]() | ![]() | ![]() | $ | 190,000 | ![]() | ![]() | ![]() | ![]() | $ | 190,000 | ![]() | ![]() | ![]() | ![]() | $ | 224,000 | ![]() | ![]() | ![]() | ![]() | $ | 270,000 | ![]() | ![]() | ![]() | ![]() | $ | 19,521 | ![]() | ![]() | ![]() | ![]() | $ | 893,521 | ![]() |
Executive VP & Chief | ![]() | ![]() | ![]() | ![]() | 2006 | ![]() | ![]() | ![]() | ![]() | $ | 181,000 | ![]() | ![]() | ![]() | ![]() | $ | 130,000 | ![]() | ![]() | ![]() | ![]() | $ | 150,000 | ![]() | ![]() | ![]() | ![]() | $ | 288,000 | ![]() | ![]() | ![]() | ![]() | $ | 25,673 | ![]() | ![]() | ![]() | ![]() | $ | 774,673 | ![]() |
Administrative Officer | ![]() | ![]() | ![]() | ![]() | 2005 | ![]() | ![]() | ![]() | ![]() | $ | 175,000 | ![]() | ![]() | ![]() | ![]() | $ | 130,000 | ![]() | ![]() | ![]() | ![]() | $ | 0 | ![]() | ![]() | ![]() | ![]() | $ | 362,000 | ![]() | ![]() | ![]() | ![]() | $ | 5,250 | ![]() | ![]() | ![]() | ![]() | $ | 672,250 | ![]() |
Gregory Ferenbach | ![]() | ![]() | ![]() | ![]() | 2007 | ![]() | ![]() | ![]() | ![]() | $ | 190,000 | ![]() | ![]() | ![]() | ![]() | $ | 140,000 | ![]() | ![]() | ![]() | ![]() | $ | 274,000 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 17,706 | ![]() | ![]() | ![]() | ![]() | $ | 621,706 | ![]() |
Senior VP & General | ![]() | ![]() | ![]() | ![]() | 2006 | ![]() | ![]() | ![]() | ![]() | $ | 186,000 | ![]() | ![]() | ![]() | ![]() | $ | 70,000 | ![]() | ![]() | ![]() | ![]() | $ | 122,000 | ![]() | ![]() | ![]() | ![]() | $ | 100,000 | ![]() | ![]() | ![]() | ![]() | $ | 9,045 | ![]() | ![]() | ![]() | ![]() | $ | 487,045 | ![]() |
Counsel | ![]() | ![]() | ![]() | ![]() | 2005 | ![]() | ![]() | ![]() | ![]() | $ | 180,000 | ![]() | ![]() | ![]() | N/A | ![]() | ![]() | ![]() | $ | 0 | ![]() | ![]() | ![]() | ![]() | $ | 209,000 | ![]() | ![]() | ![]() | ![]() | $ | 5,429 | ![]() | ![]() | ![]() | ![]() | $ | 394,429 | ![]() |
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Mr. McDonnell was hired in July 2006. |
(b) | The amounts shown in the |
(c) | All Other Compensation is comprised of cash payments on unexercised vested stock options, dividends on unvested restricted stock, the Corporation’s match of contributions to a 401(k) plan, and relocation expenses and related taxgross-ups. The table below sets forth this information by named executive officer for the fiscal years ended December 31, |
(d) | The Corporation does not have a non-equity incentive plan, a pension plan or a non-qualified deferred compensation plan and, therefore, the columns related to these plans are excluded from the table. |
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Cash | Unvested | |||||||||||||||||||||||
Payments on | Restricted | Relocation | ||||||||||||||||||||||
Vested, Unexercised | Stock | Corporation’s | Expenses and | Total All Other | ||||||||||||||||||||
Year | Stock Options | Dividends | 401(k) Match | Tax Gross-up | Compensation | |||||||||||||||||||
Robert S. Silberman | 2008 | $ | 475,000 | $ | 476,608 | $ | 9,200 | $ | — | $ | 960,808 | |||||||||||||
Chairman & CEO | 2007 | $ | 262,500 | $ | 172,565 | $ | 9,000 | $ | — | $ | 444,065 | |||||||||||||
2006 | $ | 425,000 | $ | 139,695 | $ | 6,600 | $ | — | $ | 571,295 | ||||||||||||||
Karl McDonnell | 2008 | $ | — | $ | 80,032 | $ | 9,000 | $ | — | $ | 89,032 | |||||||||||||
President & COO | 2007 | $ | — | $ | 27,888 | $ | 9,000 | — | $ | 36,888 | ||||||||||||||
2006 | $ | — | $ | 11,358 | $ | — | $ | 83,787 | (a) | $ | 95,145 | |||||||||||||
Mark C. Brown | 2008 | $ | 23,750 | $ | 25,186 | $ | 9,000 | $ | — | $ | 57,936 | |||||||||||||
Executive VP & CFO | 2007 | $ | 32,265 | $ | 4,617 | $ | 9,000 | $ | — | $ | 45,882 | |||||||||||||
2006 | $ | 84,244 | $ | — | $ | 6,300 | $ | — | $ | 90,544 | ||||||||||||||
Lysa A. Hlavinka | 2008 | $ | — | $ | 44,858 | $ | 8,198 | $ | — | $ | 53,056 | |||||||||||||
Executive VP & Chief | 2007 | $ | — | $ | 11,921 | $ | 7,600 | $ | — | $ | 19,521 | |||||||||||||
Administrative Officer | 2006 | $ | 12,500 | $ | 7,969 | $ | 5,204 | $ | — | $ | 25,673 | |||||||||||||
Gregory Ferenbach | 2008 | $ | — | $ | 26,431 | $ | 7,662 | $ | — | $ | 34,093 | |||||||||||||
Senior VP & General | 2007 | $ | — | $ | 10,094 | $ | 7,612 | $ | — | $ | 17,706 | |||||||||||||
Counsel | 2006 | $ | — | $ | 3,436 | $ | 5,609 | $ | — | $ | 9,045 |
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() |
![]() | ![]() | Year | ![]() | ![]() | Cash Payments on Vested, Unexercised Stock Options | ![]() | ![]() | Unvested Restricted Stock Dividends | ![]() | ![]() | Corporation’s 401(k) Match | ![]() | ![]() | Relocation Expenses and Tax Gross-up | ![]() | ![]() | Total All Other Compensation | |||||||||||||||||||
Robert S. Silberman | ![]() | ![]() | ![]() | ![]() | 2007 | ![]() | ![]() | ![]() | ![]() | $ | 262,500 | ![]() | ![]() | ![]() | ![]() | $ | 172,565 | ![]() | ![]() | ![]() | ![]() | $ | 9,000 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 444,065 | ![]() |
Chairman & CEO | ![]() | ![]() | ![]() | ![]() | 2006 | ![]() | ![]() | ![]() | ![]() | $ | 425,000 | ![]() | ![]() | ![]() | ![]() | $ | 139,695 | ![]() | ![]() | ![]() | ![]() | $ | 6,600 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 571,295 | ![]() |
![]() | ![]() | ![]() | ![]() | 2005 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 6,300 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 6,300 | ![]() | |
Karl McDonnell | ![]() | ![]() | ![]() | ![]() | 2007 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 27,888 | ![]() | ![]() | ![]() | ![]() | $ | 9,000 | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | $ | 36,888 | ![]() |
President & COO | ![]() | ![]() | ![]() | ![]() | 2006 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 11,358 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 83,787 | (a) | ![]() | ![]() | ![]() | $ | 95,145 | ![]() |
![]() | ![]() | ![]() | ![]() | 2005 | ![]() | ![]() | ![]() | ![]() | ![]() | N/A | ![]() | ![]() | ![]() | ![]() | ![]() | N/A | ![]() | ![]() | ![]() | ![]() | ![]() | N/A | ![]() | ![]() | ![]() | ![]() | ![]() | N/A | ![]() | ![]() | ![]() | ![]() | ![]() | N/A | ![]() | |
Mark C. Brown | ![]() | ![]() | ![]() | ![]() | 2007 | ![]() | ![]() | ![]() | ![]() | $ | 32,265 | ![]() | ![]() | ![]() | ![]() | $ | 4,617 | ![]() | ![]() | ![]() | ![]() | $ | 9,000 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 45,882 | ![]() |
Executive VP & CFO | ![]() | ![]() | ![]() | ![]() | 2006 | ![]() | ![]() | ![]() | ![]() | $ | 84,244 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 6,300 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 90,544 | ![]() |
![]() | ![]() | ![]() | ![]() | 2005 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 6,200 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 6,200 | ![]() | |
Lysa A. Hlavinka | ![]() | ![]() | ![]() | ![]() | 2007 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 11,921 | ![]() | ![]() | ![]() | ![]() | $ | 7,600 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 19,521 | ![]() |
Executive VP & Chief | ![]() | ![]() | ![]() | ![]() | 2006 | ![]() | ![]() | ![]() | ![]() | $ | 12,500 | ![]() | ![]() | ![]() | ![]() | $ | 7,969 | ![]() | ![]() | ![]() | ![]() | $ | 5,204 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 25,673 | ![]() |
Administrative Officer | ![]() | ![]() | ![]() | ![]() | 2005 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 5,250 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 5,250 | ![]() |
Gregory Ferenbach | ![]() | ![]() | ![]() | ![]() | 2007 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 10,094 | ![]() | ![]() | ![]() | ![]() | $ | 7,612 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 17,706 | ![]() |
Senior VP & General Counsel | ![]() | ![]() | ![]() | ![]() | 2006 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 3,436 | ![]() | ![]() | ![]() | ![]() | $ | 5,609 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 9,045 | ![]() |
![]() | ![]() | ![]() | ![]() | 2005 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 5,429 | ![]() | ![]() | ![]() | ![]() | $ | — | ![]() | ![]() | ![]() | ![]() | $ | 5,429 | ![]() |
![]() | ||
![]() ![]() | ![]() | |
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Mr. McDonnell received $83,787 in 2006 related to his relocation, $54,294 of which was for relocation expenses and $29,493 of which was for taxgross-ups. |
2008.
All Stock | ||||||||||||||||
Awards: | ||||||||||||||||
Number of | Grant Date | |||||||||||||||
Shares of | Fair Value | |||||||||||||||
Stock or | of Stock | |||||||||||||||
Units(b) | Awards(b) | Vesting | ||||||||||||||
Name | Grant Date | (#) | ($) | Date | ||||||||||||
Robert S. Silberman, | — | — | — | — | ||||||||||||
Chairman & CEO | ||||||||||||||||
Karl McDonnell, | 2/12/08 | 1,851 | 300,000 | 2/12/11 | ||||||||||||
President & COO | ||||||||||||||||
Mark C. Brown, | 2/12/08 | 1,481 | 240,000 | 2/12/11 | ||||||||||||
Executive VP & CFO | 2/12/08 | 6,170 | 1,000,000 | 2/12/13 | ||||||||||||
Lysa A. Hlavinka, | 2/12/08 | 1,173 | 190,000 | 2/12/11 | ||||||||||||
Executive VP & Chief | 2/12/08 | 6,170 | 1,000,000 | 2/12/13 | ||||||||||||
Administrative Officer | ||||||||||||||||
Gregory Ferenbach, Senior VP & General Counsel | 2/12/08 | 1,173 | 190,000 | 2/12/11 |
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() |
Name | ![]() | ![]() | Grant Date | ![]() | ![]() | All Stock Awards: Number of Shares of Stock or Units(b) (#) | ![]() | ![]() | Grant Date Fair Value of Stock Awards(b) ($) | |||||||||
Robert S. Silberman, Chairman & CEO | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() |
Karl McDonnell, President & COO | ![]() | ![]() | 2/13/07 | ![]() | ![]() | ![]() | ![]() | 1,056 | ![]() | ![]() | ![]() | ![]() | ![]() | 120,000 | ![]() | |||
Mark C. Brown, Executive VP & CFO | ![]() | ![]() | 2/13/07 | ![]() | ![]() | ![]() | ![]() | 3,518 | ![]() | ![]() | ![]() | ![]() | ![]() | 400,000 | ![]() | |||
![]() | ![]() | |||||||||||||||||
Lysa A. Hlavinka, Executive VP & Chief Administrative Officer | ![]() | ![]() | 2/13/07 | ![]() | ![]() | ![]() | ![]() | 1,583 | ![]() | ![]() | ![]() | ![]() | ![]() | 180,000 | ![]() | |||
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||||||
Gregory Ferenbach, Senior VP & General Counsel | ![]() | ![]() | 2/13/07 | ![]() | ![]() | ![]() | ![]() | 1,583 | ![]() | ![]() | ![]() | ![]() | ![]() | 180,000 | ![]() |
![]() | ||
![]() ![]() | ![]() | |
![]() |
These awards of restricted stock vest 100% on either February |
(b) | On February |
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |
![]() | ![]() | 100% Vest | ||||||||
Shares | ![]() | ![]() | ||||||||
Robert S. Silberman | 183,680 | 2/10/19 | ||||||||
Karl McDonnell | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | 2/ | ||
Mark C. Brown | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | 2/ | |||
Lysa A. Hlavinka | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | 2/ | |||
Gregory Ferenbach | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | 2/ |
(c) | The Corporation did not grant any stock options in |
17
2008.
Number of | Number of | |||||||||||||||||||||||||||
Securities | Securities | Market | ||||||||||||||||||||||||||
Underlying | Underlying | Value of | ||||||||||||||||||||||||||
Unexercised | Unexercised | Option | Option | Stock | ||||||||||||||||||||||||
Options | Options | Option | Exercise | Full | Option | Options at | ||||||||||||||||||||||
(#) | (#) | Grant | Price | Vesting | Expiration | 12/31/08 | ||||||||||||||||||||||
Name | Exercisable | Unexercisable | Date | ($) | Date(a) | Date | ($)(b) | |||||||||||||||||||||
Robert S. Silberman, Chairman & CEO | — | 100,000 | 2/15/05 | $ | 107.28 | 2/15/09 | 2/14/13 | 10,713,000 | ||||||||||||||||||||
Karl McDonnell, President & COO | — | — | — | — | — | — | — | |||||||||||||||||||||
Mark C. Brown, Executive VP & CFO | — | 25,417 | 2/15/05 | $ | 107.28 | 2/15/09 | 2/14/13 | 2,723,000 | ||||||||||||||||||||
Lysa A. Hlavinka, Executive VP & Chief Administrative Officer | — | 15,000 | 2/15/05 | $ | 107.28 | 2/15/09 | 2/14/13 | 1,607,000 | ||||||||||||||||||||
Gregory Ferenbach, Senior VP & General Counsel | — | — | — | — | — | — | — |
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() |
Name | ![]() | ![]() | Number of Securities Underlying Unexercised Options (#) Exercisable | ![]() | ![]() | Number of Securities Underlying Unexercised Options (#) Unexercisable | ![]() | ![]() | Option Grant Date | ![]() | ![]() | Option Exercise Price ($) | ![]() | ![]() | Option Full Vesting Date(a) | ![]() | ![]() | Option Expiration Date | ![]() | ![]() | Market Value of Stock Options at 12/31/07(b) ($) | |||||||||||||||||||||
Robert S. Silberman, | ![]() | ![]() | ![]() | ![]() | 100,000 | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | 4/6/01 | ![]() | ![]() | ![]() | ![]() | $ | 33.69 | ![]() | ![]() | ![]() | ![]() | ![]() | 4/6/04 | ![]() | ![]() | ![]() | ![]() | ![]() | 4/5/08 | ![]() | ![]() | ![]() | ![]() | ![]() | 13,689,000 | ![]() |
Chairman & CEO | ![]() | ![]() | ![]() | ![]() | 100,000 | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | 2/12/03 | ![]() | ![]() | ![]() | ![]() | $ | 53.61 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/12/06 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/11/09 | ![]() | ![]() | ![]() | ![]() | ![]() | 11,697,000 | ![]() |
![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | 100,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/15/05 | ![]() | ![]() | ![]() | ![]() | $ | 107.28 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/15/09 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/14/13 | ![]() | ![]() | ![]() | ![]() | ![]() | 6,330,000 | ![]() | |
Karl McDonnell, | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() |
President & COO | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||||||
Mark C. Brown, | ![]() | ![]() | ![]() | ![]() | 10,000 | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | 2/12/03 | ![]() | ![]() | ![]() | ![]() | $ | 53.61 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/12/06 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/11/09 | ![]() | ![]() | ![]() | ![]() | ![]() | 1,170,000 | ![]() |
Executive VP & CFO | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | 25,417 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/15/05 | ![]() | ![]() | ![]() | ![]() | $ | 107.28 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/15/09 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/14/13 | ![]() | ![]() | ![]() | ![]() | ![]() | 1,609,000 | ![]() |
Lysa A. Hlavinka, | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | 10,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 5/11/04 | ![]() | ![]() | ![]() | ![]() | $ | 119.72 | ![]() | ![]() | ![]() | ![]() | ![]() | 5/11/08 | ![]() | ![]() | ![]() | ![]() | ![]() | 5/10/12 | ![]() | ![]() | ![]() | ![]() | ![]() | 509,000 | ![]() |
Executive VP & Chief | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | 15,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/15/05 | ![]() | ![]() | ![]() | ![]() | $ | 107.28 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/15/09 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/14/13 | ![]() | ![]() | ![]() | ![]() | ![]() | 950,000 | ![]() |
Administrative Officer | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||||||
Gregory Ferenbach, Senior VP & General Counsel | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() |
![]() | |
![]() ![]() | ![]() |
![]() |
![]() | ![]() | |
(a) | All unvested stock options vest 100% on |
![]() | ![]() | |
(b) | Market value of stock options at December 31, |
18
Market Value of | ||||||||||||||||
Shares of Stock at | ||||||||||||||||
Number of Shares or | 12/31/08 | |||||||||||||||
Restricted | Units of Stock That | That Have | ||||||||||||||
Stock | Have Not Vested | Not Vested | Restricted Stock | |||||||||||||
Name | Award Date | (#) | ($) | Vesting Date | ||||||||||||
Robert S. Silberman, Chairman & CEO | — | — | — | — | ||||||||||||
Karl McDonnell, | 7/26/06 | 20,192 | (a) | 4,329,000 | 7/25/10 | |||||||||||
President & COO | 2/13/07 | 1,056 | (b) | 226,000 | 2/13/10 | |||||||||||
2/12/08 | 1,851 | (c) | 397,000 | 2/12/11 | ||||||||||||
Mark C. Brown, | 2/13/07 | 3,518 | (b) | 754,000 | 2/13/10 | |||||||||||
Executive VP & CFO | 2/12/08 | 1,481 | (c) | 318,000 | 2/12/11 | |||||||||||
2/12/08 | 6,170 | (d) | 1,323,000 | 2/12/13 | ||||||||||||
Lysa A. Hlavinka, | 2/14/06 | 7,500 | (e) | 1,608,000 | 2/13/10 | |||||||||||
Executive VP & Chief | 2/13/07 | 1,583 | (b) | 339,000 | 2/13/10 | |||||||||||
Administrative Officer | 2/12/08 | 1,173 | (c) | 252,000 | 2/12/11 | |||||||||||
2/12/08 | 6,170 | (d) | 1,323,000 | 2/12/13 | ||||||||||||
Gregory Ferenbach, | 6/13/06 | 3,424 | (f) | 734,000 | 2/15/09 | |||||||||||
Senior VP & General | 2/13/07 | 1,583 | (b) | 339,000 | 2/13/10 | |||||||||||
Counsel | 2/12/08 | 1,173 | (c) | 252,000 | 2/12/11 |
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() |
Name | ![]() | ![]() | Restricted Stock Award Date | ![]() | ![]() | Number of Shares or Units of Stock That Have Not Vested (#) | ![]() | ![]() | Market Value of Shares of Stock at 12/31/07 That Have Not Vested | ![]() | ![]() | Restricted Stock Vesting Date | ||||||||||||
Robert S. Silberman, | ![]() | ![]() | ![]() | ![]() | 2/14/06 | ![]() | ![]() | ![]() | ![]() | ![]() | 131,478(a | ) | ![]() | ![]() | ![]() | $ | 22,428,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 12/1/08 | ![]() |
Chairman & CEO | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||
Karl McDonnell, | ![]() | ![]() | ![]() | ![]() | 7/26/06 | ![]() | ![]() | ![]() | ![]() | ![]() | 20,192(b | ) | ![]() | ![]() | ![]() | $ | 3,444,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 7/25/10 | ![]() |
President & COO | ![]() | ![]() | ![]() | ![]() | 2/13/07 | ![]() | ![]() | ![]() | ![]() | ![]() | 1,056(c | ) | ![]() | ![]() | ![]() | $ | 180,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/13/10 | ![]() |
Mark C. Brown, | ![]() | ![]() | ![]() | ![]() | 2/13/07 | ![]() | ![]() | ![]() | ![]() | ![]() | 3,518(c | ) | ![]() | ![]() | ![]() | $ | 600,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/13/10 | ![]() |
Executive VP & CFO | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||||
Lysa A. Hlavinka, | ![]() | ![]() | ![]() | ![]() | 2/14/06 | ![]() | ![]() | ![]() | ![]() | ![]() | 7,500(d | ) | ![]() | ![]() | ![]() | $ | 1,279,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/13/10 | ![]() |
Executive VP & Chief Administrative Officer | ![]() | ![]() | ![]() | ![]() | 2/13/07 | ![]() | ![]() | ![]() | ![]() | ![]() | 1,583(c | ) | ![]() | ![]() | ![]() | $ | 270,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/13/10 | ![]() |
Gregory Ferenbach, | ![]() | ![]() | ![]() | ![]() | 6/13/06 | ![]() | ![]() | ![]() | ![]() | ![]() | 2,684(e | ) | ![]() | ![]() | ![]() | $ | 458,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/10/08 | ![]() |
Senior VP & General Counsel | ![]() | ![]() | ![]() | ![]() | 6/13/06 | ![]() | ![]() | ![]() | ![]() | ![]() | 3,424(e | ) | ![]() | ![]() | ![]() | $ | 584,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/15/09 | ![]() |
![]() | ![]() | ![]() | ![]() | 2/13/07 | ![]() | ![]() | ![]() | ![]() | ![]() | 1,583(c | ) | ![]() | ![]() | ![]() | $ | 270,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 2/13/10 | ![]() |
![]() | ||
![]() ![]() | ![]() | |
![]() |
(a) |
On July 25, 2006 (when the closing price of the common stock was |
(b) | These awards of restricted stock vest 100% on February 13, 2010. The Corporation’s closing price of common stock was $113.72 on the date of these awards. |
(c) | These awards of restricted stock vest 100% on February 12, 2011. The Corporation’s closing price of common stock was $162.10 on the date of these awards. | |
(d) | These awards of restricted stock vest 100% on February 12, 2013. The Corporation’s closing price of common stock was $162.10 on the date of these awards. | |
(e) | On February 14, 2006 (when the closing price of the common stock was $91.27 per share), Ms. Hlavinka was granted 7,500 restricted common shares which vest 100% on February 14, 2010. Ms. Hlavinka has the right to vote these shares and receive cash dividends thereon during the restriction period. |
(f) | On June 13, 2006, Mr. Ferenbach was granted |
19
Options Exercised | Restricted Stock Vested | |||||||||||||||
Number of Shares | Number of | |||||||||||||||
Acquired on | Value Realized on | Shares Acquired | Value Realized | |||||||||||||
Exercise | Exercise | on Vesting | on Vesting | |||||||||||||
Name | (#) | ($) | (#) | ($) | ||||||||||||
Robert S. Silberman, Chairman & CEO | 200,000 | 26,005,000 | 131,478 | 30,020,000 | ||||||||||||
Karl McDonnell, President & COO | — | — | — | — | ||||||||||||
Mark C. Brown, Executive VP & CFO | 10,000 | 1,408,000 | — | — | ||||||||||||
Lysa A. Hlavinka, Executive VP & Chief Administrative Officer | 10,000 | 753,000 | — | — | ||||||||||||
Gregory Ferenbach, Senior VP & General Counsel | — | — | 2,684 | 451,000 |
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() |
![]() | ![]() | Options Exercised | ![]() | ![]() | Restricted Stock Vested | |||||||||||||||||||
Name | ![]() | ![]() | Number of Shares Acquired on Exercise (#) | ![]() | ![]() | Value Realized on Exercise ($) | ![]() | ![]() | Number of Shares Acquired on Vesting (#) | ![]() | ![]() | Value Realized on Vesting ($) | ||||||||||||
Robert S. Silberman, Chairman & CEO | ![]() | ![]() | ![]() | ![]() | 200,000 | ![]() | ![]() | ![]() | ![]() | $ | 17,303,000 | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() |
Karl McDonnell, President & COO | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() |
Mark C. Brown, Executive VP & CFO | ![]() | ![]() | ![]() | ![]() | 64,583 | ![]() | ![]() | ![]() | ![]() | $ | 5,590,000 | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() |
Lysa A. Hlavinka, Executive VP & Chief Administrative Officer | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() |
Gregory Ferenbach, Senior VP & General Counsel | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() |
Potential Payments upon Termination or Change in Control
Value Realized | ||||
Upon Vesting Due | ||||
to Change of Control | ||||
($) | ||||
Robert S. Silberman | 10,713,000 | |||
Karl McDonnell | 4,953,000 | |||
Mark C. Brown | 5,118,000 | |||
Lysa A. Hlavinka | 5,129,000 | |||
Gregory Ferenbach | 1,325,000 |
2008.
Fees Earned | ||||||||||||||||
or Paid | Stock | All Other | ||||||||||||||
in Cash | Awards(f) | Compensation(g) | Total | |||||||||||||
Name | ($) | ($) | ($) | ($) | ||||||||||||
Robert S. Silberman, Chairman & CEO(a) | — | — | — | — | ||||||||||||
Dr. Charlotte F. Beason, Director | 40,000 | 36,725 | (b) | 2,051 | 78,776 | |||||||||||
William E. Brock, Director | 40,000 | 36,725 | (b) | 2,051 | 78,776 | |||||||||||
David A. Coulter, Director | — | 73,228 | (c) | 40,330 | 113,558 | |||||||||||
Gary Gensler, Director | 45,000 | 36,725 | (b) | 2,051 | 83,776 | |||||||||||
Robert R. Grusky, Director | 35,000 | 45,859 | (d) | 2,562 | 83,421 | |||||||||||
Robert L. Johnson, Director | — | 73,228 | (c) | 28,248 | 101,476 | |||||||||||
Todd A. Milano, Director | 17,200 | 61,036 | (e) | 3,573 | 81,809 | |||||||||||
G. Thomas Waite, III, Director | 45,000 | 36,725 | (b) | 2,051 | 83,776 | |||||||||||
J. David Wargo, Director | 40,000 | 36,725 | (b) | 2,051 | 78,776 |
![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() |
Name | ![]() | ![]() | Fees Earned or Paid in Cash ($) | ![]() | ![]() | Stock Awards(f) ($) | ![]() | ![]() | All Other Compensation(g) ($) | ![]() | ![]() | Total ($) | ||||||||||||
Robert S. Silberman, Chairman & CEO(a) | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() |
Dr. Charlotte F. Beason, Director | ![]() | ![]() | ![]() | ![]() | 40,000 | ![]() | ![]() | ![]() | 32,217(b) | ![]() | ![]() | ![]() | ![]() | 730 | ![]() | ![]() | ![]() | ![]() | ![]() | 72,947 | ![]() | |||
William E. Brock, Director | ![]() | ![]() | ![]() | ![]() | 40,000 | ![]() | ![]() | ![]() | 32,217(b) | ![]() | ![]() | ![]() | ![]() | 7,605 | ![]() | ![]() | ![]() | ![]() | ![]() | 79,822 | ![]() | |||
David A. Coulter, Director | ![]() | ![]() | ![]() | ![]() | 500 | ![]() | ![]() | ![]() | 63,878(c) | ![]() | ![]() | ![]() | ![]() | 14,571 | ![]() | ![]() | ![]() | ![]() | ![]() | 78,949 | ![]() | |||
Gary Gensler, Director | ![]() | ![]() | ![]() | ![]() | 45,000 | ![]() | ![]() | ![]() | 32,217(b) | ![]() | ![]() | ![]() | ![]() | 3,855 | ![]() | ![]() | ![]() | ![]() | ![]() | 81,072 | ![]() | |||
Robert R. Grusky, Director | ![]() | ![]() | ![]() | ![]() | 35,000 | ![]() | ![]() | ![]() | 40,278(d) | ![]() | ![]() | ![]() | ![]() | 912 | ![]() | ![]() | ![]() | ![]() | ![]() | 76,190 | ![]() | |||
Robert L. Johnson, Director | ![]() | ![]() | ![]() | ![]() | 500 | ![]() | ![]() | ![]() | 63,878(c) | ![]() | ![]() | ![]() | ![]() | 10,196 | ![]() | ![]() | ![]() | ![]() | ![]() | 74,574 | ![]() | |||
Todd A. Milano, Director | ![]() | ![]() | ![]() | ![]() | 8,800 | ![]() | ![]() | ![]() | 57,350(e) | ![]() | ![]() | ![]() | ![]() | 1,300 | ![]() | ![]() | ![]() | ![]() | ![]() | 67,450 | ![]() | |||
G. Thomas Waite, III, Director | ![]() | ![]() | ![]() | ![]() | 45,000 | ![]() | ![]() | ![]() | 32,217(b) | ![]() | ![]() | ![]() | ![]() | 730 | ![]() | ![]() | ![]() | ![]() | ![]() | 77,947 | ![]() | |||
J. David Wargo, Director | ![]() | ![]() | ![]() | ![]() | 40,000 | ![]() | ![]() | ![]() | 32,217(b) | ![]() | ![]() | ![]() | ![]() | 730 | ![]() | ![]() | ![]() | ![]() | ![]() | 72,947 | ![]() |
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Mr. Silberman receives no compensation for serving as a member of the Corporation’s Board of Directors. |
(b) | The grant date fair value for these stock awards was $40,000 on May 3, 2006 ($103.60 per share) |
(c) | The grant date fair value for these stock awards was $79,000 on May 3, 2006 ($103.60 per share) |
(d) | The grant date fair value for these stock awards was $50,000 on May 3, 2006 ($103.60 per share) |
(e) | The grant date fair value for these stock awards was $71,200 on May 3, 2006 |
(f) | The amounts shown in the |
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(g) | All Other Compensation is comprised of cash payments on unexercised, vested stock options and dividends on unvested restricted stock. |
Shares of | ||||||||
Stock | Unvested | |||||||
Options(a) | Restricted Stock | |||||||
Name | (#) | (#) | ||||||
Dr. Charlotte F. Beason, Director | — | 560 | ||||||
William E. Brock, Director | — | 560 | ||||||
David A. Coulter, Director | 10,000 | 1,115 | ||||||
Gary Gensler, Director | — | 560 | ||||||
Robert R. Grusky, Director | — | 699 | ||||||
Robert L. Johnson, Director | 6,667 | 1,115 | ||||||
Todd A. Milano, Director | — | 934 | ||||||
G. Thomas Waite, III, Director | — | 560 | ||||||
J. David Wargo, Director | — | 560 |
(a) | As of December 31, |
Directors who are employees receive no additional compensation for serving as directors. All directors are reimbursed for expenses incurred in connection with their attendance at Board and Committee meetings.
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• | Annual |
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�� | • | Restricted |
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• | Fees for Audit |
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• | Reimbursement of |
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Number of | ||||||||||||
securities | ||||||||||||
remaining available | ||||||||||||
Number of | for future issuance | |||||||||||
securities to be | under equity | |||||||||||
issued upon | Weighted average | compensation plans | ||||||||||
exercise of | exercise price | (excluding | ||||||||||
outstanding | of outstanding | securities | ||||||||||
options, warrants | options, warrants | reflected in | ||||||||||
Plan Category | and rights | and rights | column (a)) | |||||||||
(a) | (b) | (c) | ||||||||||
1. Equity compensation plans previously approved by security holders | ||||||||||||
A. 1996 Stock Option Plan as amended at the May 2001, the May 2005, and the May 2006 annual shareholders’ meetings | 167,084 | $ | 102.98 | 420,533 | ||||||||
2. Equity compensation plans not previously approved by security holders | — | — | — | |||||||||
Total | 167,084 | $ | 102.98 | 420,533 | ||||||||
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10, 2009
24
2009.
2009.
Gary Gensler, Chair
9, 2009
25
2009.
2007 | 2008 | |||||||
Audit Fees | ||||||||
Recurring | ||||||||
Consolidated financial statements audit | $ | 374,100 | $ | 389,000 | ||||
Tax Fees | ||||||||
Preparation of corporate tax returns | 48,450 | 46,000 | ||||||
Other tax compliance/tax advice | — | 20,469 | ||||||
All Other Fees | ||||||||
License fee for accounting database | 2,400 | 2,400 | ||||||
$ | 424,950 | $ | 457,869 | |||||
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![]() | ![]() | 2006 | ![]() | ![]() | 2007 | |||||||
Audit Fees Recurring: | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||
Consolidated financial statements audit | ![]() | ![]() | ![]() | $ | 375,000 | ![]() | ![]() | ![]() | ![]() | $ | 374,100 | ![]() |
Non-recurring: | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||
Implementation of FAS 123(R) | ![]() | ![]() | ![]() | ![]() | 39,625 | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() |
Other | ![]() | ![]() | ![]() | ![]() | 5,610 | ![]() | ![]() | ![]() | ![]() | ![]() | — | ![]() |
![]() | ![]() | ![]() | ![]() | 420,235 | ![]() | ![]() | ![]() | ![]() | ![]() | 374,100 | ![]() | |
Tax Fees | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||
Preparation of corporate tax returns | ![]() | ![]() | ![]() | ![]() | 33,000 | ![]() | ![]() | ![]() | ![]() | ![]() | 48,450 | ![]() |
Other Services | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ||
License fee for accounting database | ![]() | ![]() | ![]() | ![]() | 1,500 | ![]() | ![]() | ![]() | ![]() | ![]() | 2,400 | ![]() |
![]() | ![]() | ![]() | $ | 454,735 | ![]() | ![]() | ![]() | ![]() | $ | 424,950 | ![]() |
It is the Audit Committee’s policy to pre-approve all audit and non-audit related services provided by the Corporation’s independent registered public accounting firm. All of the services described above were pre-approved by the Corporation’s Audit Committee.
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27
Exhibit A
28, 2009
- Please detach along perforated line and mail in the envelope provided -
NOMINEES: | For | Against | Abstain | |||||||
1. | Robert S. Silberman | o | o | o | ||||||
2. | Dr. Charlotte F. Beason | o | o | o | ||||||
3. | William E. Brock | o | o | o | ||||||
4. | David A. Coulter | o | o | o | ||||||
5. | Robert R. Grusky | o | o | o | ||||||
6. | Robert L. Johnson | o | o | o | ||||||
7. | Todd A. Milano | o | o | o | ||||||
8. | G. Thomas Waite, III | o | o | o | ||||||
9. | J. David Wargo | o | o | o |
A-1
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![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | ABSTAIN | ||||
2. | ![]() | ![]() | To ratify the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the Corporation for the fiscal year ending December 31, | ![]() | ![]() | ![]() | ![]() | ![]() | ![]() | |||
3. To re-authorize the Employee Stock Purchase Plan for an additional ten (10) years. | ![]() | ![]() | ![]() | [ ] | [ ] |
Signature of Stockholder: Date: Signature of Stockholder: Date:
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Signature of Stockholder: | Date: |
A-2