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![]() |
![]() | The offices of Hill-Rom Holdings, Inc., 180 North Stetson Avenue, Two Prudential Plaza, Suite 1630, Chicago, Illinois 60601. |
![]() | (1) | To elect nine members to the Board of Directors to serve one-year terms expiring at the |
(2) | To consider and vote on a non-binding proposal to approve the compensation of Hill-Rom’s executive officers; |
(3) | To ratify the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm of Hill-Rom Holdings, Inc. for fiscal year |
(4) | To transact any other items of business that may properly be brought before the meeting and any postponement or adjournment thereof. |
![]() | Only stockholders of record as of the close of business on December 31, 2014 are entitled |
By Order of the Board of Directors | ||
![]() | ||
Susan R. Lichtenstein | ||
Secretary |
EXECUTIVE SUMMARY | 1 |
GENERAL INFORMATION ABOUT THE ANNUAL MEETING AND VOTING | 4 |
PROPOSALS REQUIRING YOUR VOTE | 8 |
Proposal No. 1 – Election of Directors | 8 |
Proposal No. 2 – Non-Binding Vote on Executive Compensation | 12 |
Proposal No. 3 – Ratification of the Appointment of the Independent Registered Public Accounting Firm | 13 |
CORPORATE GOVERNANCE | 14 |
AUDIT COMMITTEE REPORT | 18 |
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | 19 |
COMPENSATION DISCUSSION AND ANALYSIS | 22 |
Compensation Committee Report | 22 |
Detailed Table of Contents for CD&A | 22 |
COMPENSATION OF NAMED EXECUTIVE OFFICERS | 34 |
DIRECTOR COMPENSATION | 45 |
EQUITY COMPENSATION PLAN INFORMATION | 47 |
SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE | 48 |
PROXY STATEMENT |
EXECUTIVE SUMMARY |
· | Diversified our revenue base and expanded our product portfolio through the acquisition of Trumpf Medical, which provides a portfolio of surgical infrastructure solutions, for approximately $250 million. With the acquisition of Trumpf, approximately 40% of our revenue will be outside the United States. |
· | Achieved a total stockholder return of 17.3% during fiscal year 2014. |
· | Commercialized a number of new products, including a new ICU bed frame, the ProgressaTM, and a bed frame for the emerging markets called CenturisTM. We also commercialized significant new products in our Surgical & Respiratory division, including two airway clearance devices, VitalCoughTM and a new MetaNebTM, and a new surgical table, the Allen Advance TableTM. |
· | Increased Hill-Rom’s dividend by approximately 10% for the fourth consecutive year. In the last four fiscal years, Hill-Rom has returned over $365 million to shareholders by dividends and repurchases. |
Proposal | Recommendation of the Board | Page References |
To elect nine members to the Board of Directors for one year terms | FOR all nominees | 8 |
To vote on a non-binding proposal to approve the compensation of Hill-Rom’s executive officers | FOR the proposal | 12 |
To ratify the appointment of PricewaterhouseCoopers LLP as Hill-Rom’s independent registered public accounting firm for fiscal year 2015 | FOR ratification of the appointment | 13 |
Director | Audit Committee | Nominating/ Corporate Governance Committee | Compensation Committee | Mergers and Acquisitions Committee |
Rolf A. Classon (Board Chair) (I) | ü | ü | C | |
John J. Greisch | ü | |||
William G. Dempsey (I) | ü | |||
James R. Giertz (I) | ü | |||
Charles E. Golden (I) | C | ü | ü | |
William H. Kucheman (I) | ü | ü | ||
Ronald A. Malone (I) | ü | C | ü | |
Eduardo R. Menascé (I) | ü | |||
Stacy Enxing Seng* (I) | ||||
Joanne Smith, M.D.* (I) | C | ü |
Governance Practice | For More Information |
All of our directors, except our CEO, are independent | 15 |
We have a non-executive, independent Board chair | 14 |
Our directors attended on average 99% of Board and their respective committee meetings, and each attended more than 90% of the meetings of the Board and their respective committees | 15 |
Our directors are elected annually, and we have a resignation policy if a director fails to garner a majority of votes cast | 8, 6 |
Our independent directors meet regularly in executive session | 14 |
We have a fully independent compensation consultant | 33 |
· | Generally target the 50th percentile of compensation paid by companies with which we compete for executive talent; |
· | Provide an annual cash incentive award based on meaningful company performance metrics such as revenue and adjusted earnings per share, modified for individual performance; and |
· | Align long-term equity compensation with our shareholder’s interests by linking realizable pay with stock performance through a combination of performance stock units, restricted stock units, and stock options. |
Component of Compensation | Form of Compensation |
Base Salary | Annual Cash Salary |
Annual Cash Incentive | 162(m) qualified plan, with negative discretion exercised by reference to our company-wide Short-Term Incentive Compensation Plan |
Long-Term Incentive Compensation | Performance Stock Units (50% of annual grant value) Restricted Stock Units (25% of annual grant value) Stock Options (25% of annual grant value) |
Executive Compensation Principle | For More Information |
We require significant stock ownership by our executive officers, including 6X base salary for our CEO; this was recently increased from 4X | 30 |
We have clawback, anti-hedging and anti-pledging policies | 30 |
We don’t re-price stock options or buy-back equity grants | 30 |
Our executives all have at-will employment agreements | 31 |
We don’t have any single-trigger change in control agreements | 31 |
We don’t provide gross-ups for perquisites or excise taxes, other than moving expenses | 31 |
1. | Who may vote? |
2. | How can I elect to receive my proxy materials electronically? |
3. | Can I vote my shares by filling out and returning the Notice Regarding the Availability of Proxy Materials? |
4. | How can I access the proxy materials over the Internet? |
5. | How does the Board recommend that I vote? |
· | FOR each of the nominees for director, |
· | FOR the non-binding approval of the compensation of Hill-Rom’s executive officers, and |
· | FOR the ratification of the appointment of PricewaterhouseCoopers LLP as Hill-Rom’s independent registered public accounting firm. |
6. | How do I vote? |
· | By Telephone or Internet — You may submit your proxy vote by following the instructions provided in the Notice Regarding the Availability of Proxy Materials, or by following the instructions provided with your proxy materials and on your proxy card or voting instruction form. |
· | By Mail — You may submit your proxy vote by mail by signing a proxy card if your shares are registered directly in your name or, for shares held beneficially in street name, by following the voting instructions |
· | In Person at the Annual Meeting — You may vote in person at the annual meeting or may be represented by another person at the meeting by executing a proxy designating that person. |
7. | If I voted by telephone or Internet and received a proxy card in the mail, do I need to return my proxy card? |
8. | Can I change my vote? |
· | voting at a later time by telephone or Internet (up to 11:59 p.m. Eastern time on the day before the meeting); |
· | writing our Corporate Secretary, Susan R. Lichtenstein, Hill-Rom Holdings, Inc., 1069 State Route 46 East, Batesville, Indiana 47006; or |
· | giving notice of revocation to the Inspector of Election at the annual meeting. |
9. | What happens if I do not specify a choice for a proposal when returning a proxy? |
10. | How are votes, including broker non-votes and abstentions, counted? |
11. | What constitutes a quorum? |
12. | What happens if other matters come up at the annual meeting? |
13. | Who will count the votes? |
14. | Who can attend the annual meeting? |
· | Valid government-issued personal identification (such as a driver’s license or passport), and |
· | Proof that you owned shares of Hill-Rom common stock on December 31, |
· | The validly executed proxy naming you as the proxy holder, signed by a shareholder of Hill-Rom who owned shares of Hill-Rom common stock on December 31, |
· | Valid government-issued personal identification (such as a driver’s license or passport), and |
· | Proof of the shareholder’s ownership of shares of Hill-Rom common stock on December 31, |
15. | How many votes must each proposal receive to be adopted? |
16. | Who pays for the proxy solicitation related to the annual meeting? |
17. | If I want to submit a shareholder proposal for the |
18. | How can I obtain a copy of the Annual Report on Form 10-K? |
19. | Where can I find the voting results of the annual meeting? |
Name | Age | Principal Occupation | Director Since |
Rolf A. Classon | 68 | Chairman of the Board of Hill-Rom | 2002 |
John J. Greisch | 58 | President and Chief Executive Officer of Hill-Rom | 2010 |
William G. Dempsey | 62 | Retired Executive Vice President, Global Pharmaceuticals, Abbott Laboratories | Nominee |
James R. Giertz | 56 | Senior Vice President and Chief Financial Officer of H.B. Fuller Company | 2009 |
Charles E. Golden | 67 | Retired Executive Vice President and Chief Financial Officer of Eli Lilly and Company | 2002 |
William H. Kucheman | 64 | Former Interim Chief Executive Officer of Boston Scientific Corp. | 2013 |
Ronald A. Malone | 59 | Retired Chief Executive Officer of Gentiva Health Services, Inc. | 2007 |
Eduardo R. Menascé | 68 | Retired President, Enterprise Solutions Group, Verizon Communications | 2004 |
Joanne C. Smith, M.D. | 53 | President and Chief Executive Officer of the Rehabilitation Institute of Chicago | 2003 |
Name | Age | Principal Occupation | Director Since |
Rolf A. Classon | 69 | Chairman of the Board of Hill-Rom | 2002 |
John J. Greisch | 59 | President and Chief Executive Officer of Hill-Rom | 2010 |
William G. Dempsey | 63 | Retired Executive Vice President, Global Pharmaceuticals, Abbott Laboratories | 2014 |
James R. Giertz | 57 | Senior Vice President and Chief Financial Officer of H.B. Fuller Company | 2009 |
Charles E. Golden | 68 | Retired Executive Vice President and Chief Financial Officer of Eli Lilly and Company | 2002 |
William H. Kucheman | 65 | Former Interim Chief Executive Officer of Boston Scientific Corp. | 2013 |
Ronald A. Malone | 60 | Retired Chief Executive Officer of Gentiva Health Services, Inc. | 2007 |
Eduardo R. Menascé | 69 | Retired President, Enterprise Solutions Group, Verizon Communications | 2004 |
Stacy Enxing Seng | 50 | Former President, Vascular Therapies, Covidien | New Nominee |
2013 | 2012 | 2013 | 2014 | |||||
Audit Fees (1) | $2,628,580 | $2,028,480 | $2,628,580 | $2,783,900 | ||||
Tax Fees (2) | $943,800 | $1,232,823 | $943,800 | $355,732 | ||||
All Other Fees (3) | $146,800 | $146,800 | $146,800 | $146,800 | ||||
Total | $3,719,180 | $3,408,103 | $3,719,180 | $3,286,432 |
1) | Audit Fees were billed by PwC for professional services rendered for the integrated audit of our consolidated financial statements and our internal control over financial reporting, along with the review and audit of the application of new accounting pronouncements, SEC releases, acquisition accounting, statutory audits of European and other foreign entities and accounting for unusual transactions. |
2) | Tax Fees were billed by PwC for professional services rendered for tax compliance, tax advice and tax planning. |
3) | All Other Fees were fees billed by PwC for all other products and services provided to us. |
Director | Audit Committee | Nominating/ Corporate Governance Committee | Compensation Committee | Audit Committee | Nominating/ Corporate Governance Committee | Compensation Committee | Mergers and Acquisitions Committee |
Rolf A. Classon (Board Chair) (I) | ü | ü | ü | ü | C | ||
John J. Greisch | ü | ||||||
William G. Dempsey (I)* | ü | ||||||
William G. Dempsey (I) | ü | ||||||
James R. Giertz (I) | ü | ü | |||||
Charles E. Golden (I) | C | ü | C | ü | ü | ||
William H. Kucheman (I) | ü | ü | ü | ||||
Ronald A. Malone (I) | ü | C | ü | C | ü | ||
Eduardo R. Menascé (I) | ü | ü | |||||
Joanne C. Smith, M.D. (I) | C | ü | |||||
Number of Meetings in FY 2013 | 10 | 8 | 6 | ||||
Joanne C. Smith, M.D.* (I) | C | ü | |||||
Number of Meetings in FY 2014 | 8 | 6 | 8 |
Submitted by the Audit Committee Charles E. Golden (Chair) Eduardo R. Menascé James R. Giertz William H. Kucheman |
· | each of our directors and our Named Executive Officers; |
· | all of our directors and executive officers as a group; and |
· | each person or entity that is known by us to be the beneficial owner of more than five percent of our common stock. |
Name of Beneficial Owner | Shares Owned Directly(1) | Shares Owned Indirectly | Shares Under Options/RSUs Exercisable/ Vesting Within 60 Days | Total Number of Shares Beneficially Owned | Percent of Class |
Directors and Named Executive Officers: | |||||
Rolf A. Classon | 15,806 | - | 59,171 | 74,977 | * |
John J. Greisch | 41,601 | - | 461,109 | 502,710 | * |
William G. Dempsey | - | - | - | - | * |
James R. Giertz | 2,000 | - | 14,646 | 16,646 | * |
Charles E. Golden | 4,588 | - | 40,601 | 45,189 | * |
W August Hillenbrand (2) | 166,439 | 851,367 | 32,807 | 1,050,613 | 1.8% |
William Kucheman | - | - | 4,212 | 4,212 | * |
Ronald A. Malone | - | - | 22,872 | 22,872 | * |
Eduardo R. Menascé | - | - | 26,471 | 26,471 | * |
Joanne C. Smith, M.D. | 2,000 | - | 36,563 | 38,563 | * |
Mark J. Guinan | 19,036 | - | - | 19,036 | * |
Alejandro Infante Saracho | 10,160 | - | 54,484 | 64,644 | * |
Susan R. Lichtenstein | 6,572 | - | 65,159 | 71,731 | * |
Michael Macek | 1,935 | - | 7,740 | 9,675 | * |
Edward Gregory Pritchard | 7,500 | - | - | 7,500 | * |
All directors and executive officers as a group (21 individuals) | 292,984 | 851,367 | 964,853 | 2,109,204 | 3.6% |
Name of Beneficial Owner | Shares Owned Directly(1) | Shares Owned Indirectly | Shares Under Options/RSUs Exercisable/ Vesting Within 60 Days | Total Number of Shares Beneficially Owned | Percent of Class |
Directors and Named Executive Officers: | |||||
Rolf A. Classon | 15,806 | - | 65,097 | 80,903 | * |
John J. Greisch | 72,478 | - | 577,927 | 650,405 | 1.1% |
William G. Dempsey | - | - | 3,989 | 3,989 | * |
James R. Giertz | 2,000 | - | 18,852 | 20,852 | * |
Charles E. Golden | 6,464 | - | 41,093 | 47,557 | * |
William Kucheman | - | - | 8,263 | 8,263 | * |
Ronald A. Malone | - | - | 27,200 | 27,200 | * |
Eduardo R. Menascé | - | - | 30,853 | 30,853 | * |
Joanne C. Smith, M.D. | 2,000 | - | 41,093 | 43,093 | * |
Susan R. Lichtenstein | 11,855 | - | 98,953 | 110,808 | * |
Michael S. Macek | 3,648 | - | 7,336 | 10,984 | * |
James K. Saccaro (2) | - | - | - | - | * |
Alejandro Infante Saracho (3) | 14,934 | - | 82,779 | 97,713 | * |
Alton E. Shader | 7,642 | - | 33,851 | 41,493 | * |
All directors and executive officers as a group (18) | 153,079 | - | 1,080,403 | 1,233,482 | 2.1% |
Name of Beneficial Owner | Total Number of Shares Beneficially Owned | Percent of Class | |||
Other 5% Beneficial Owners: | |||||
Fidelity Management & Research Co. 245 Summer Street Boston, MA 02210 | |||||
BlackRock Inc. 40 East 52nd Street New York, NY 10022 | 3,378,967 (5) | 6.0% | |||
The Vanguard Group P.O Box 2600 Valley Forge, PA 19482 | 3,342,331 (6) | 5.9% | |||
SouthernSun Asset Management LLC 6070 Popular Ave Suite 300 Memphis, TN 38119 | |||||
5.6% |
(1) | Includes shares of common stock purchased under our employee stock purchase plan over the first quarter of fiscal year |
(2) | Mr. |
(3) |
(4) |
This information is based solely on Schedule 13F filed by Fidelity Management & Research Co. with the SEC on November 14, |
(5) | This information is based solely on Schedule 13F filed by BlackRock, Inc. with the SEC on October 29, 2014. |
(6) | This information is based solely on Schedule 13F filed by The Vanguard Group with the SEC on November 12, 2014. |
(7) | This information is based solely on Schedule 13F filed by SouthernSun Asset Management LLC with the SEC on November 13, 2014. |
COMPENSATION DISCUSSION AND ANALYSIS |
Compensation Committee Report The Compensation and Management Development Committee of the Board of Directors of Hill-Rom Holdings, Inc. has reviewed and discussed the Compensation Discussion and Analysis contained in this proxy statement with management and, based upon this review and discussion, recommended to the Board of Directors that the Compensation Discussion and Analysis be included in this proxy statement and the Company’s annual report on Form 10-K for the fiscal year ended September 30, 2014. The Compensation and Management Development Committee Ronald A. Malone (Chair) Rolf A. Classon Joanne C. Smith, M.D. William G. Dempsey |
Named Executive Officers | 23 |
Goals of Our Compensation Program | 23 |
Links Between Executive Compensation and Company Performance | 23 |
Compensation of John Greisch, Our CEO | 24 |
At-Risk Pay | 24 |
CEO Reported vs. Realized Pay | 25 |
Key Governance Features Relating to Executive Compensation | 25 |
Elements of Executive Compensation | 26 |
Base Salary | 26 |
Annual Cash Incentive | 27 |
Long-Term Equity Awards | 28 |
Retirement and Change-in-Control Agreements | 30 |
Other Personal Benefits | 31 |
Employment Agreements | 31 |
Role of the Compensation Committee | 32 |
Peer Group and Survey Data | 32 |
Peer Group Companies | 32 |
Other Factors | 33 |
Compensation Consultant | 33 |
Risk Assessment | 33 |
John J. Greisch | President and Chief Executive Officer |
Former Senior Vice President and Chief Financial Officer | |
Michael S. Macek* | Vice President, Treasurer and Interim Chief Financial Officer |
Alejandro Infante | Former Senior Vice President and President International |
Susan R. Lichtenstein | Senior Vice President, Corporate Affairs, Chief Legal Officer & Corporate Secretary |
· |
· |
· |
· | Ensure competitive compensation in order to attract and retain superior talent; and |
· | Ensure simplicity and transparency in compensation structure. |
· | Executive compensation is comprised of (1) base salary, (2) variable cash incentive awards (Short Term Incentive Compensation or STIC) and (3) long-term, equity-based incentive awards (Long-Term Incentives or LTI). |
· | The Compensation Committee generally targets total compensation at the 50th percentile of compensation paid by our peer group. |
· | Our variable cash incentive award was based on two metrics in fiscal |
· | As shown below, the significant majority of our |
· | A summary of our key achievements for fiscal year 2014 can be found in the executive summary of this proxy statement on page 1. |
FY CEO Compensation Summary | FY Continuing NEOs Compensation Summary |
![]() ![]() | ![]() ![]() |
Total at Risk: | Total at Risk: |
![]() |
*Realized pay includes, with respect to any fiscal year, salary and cash bonus actually paid in such year, the fair value of stock awards vesting in such year, the gain from any exercised stock options, and the value of other perquisites received. |
Fiscal Year | Reported Pay | Realized Pay* | Realized Pay as a Percentage of Reported Pay |
2013 | $5,252,811 | $1,850,813 | 35% |
2012 | $4,810,330 | $2,490,950 | 52% |
2011 | $5,508,763 | $1,959,783 | 36% |
*Realized pay includes, with respect to any fiscal year, salary and cash bonus actually paid in such year, the fair value of stock awards vesting in such year, the gain from any exercised stock options, and the value of other perquisites received. |
What We Do | What We Don’t Do | ||
Require significant stock ownership, including 6X base salary for our CEO, ensuring that executives are invested in Hill-Rom’s long-term success | ![]() | We don’t re-price stock options or buy-back equity grants | |
![]() | Have an effective, 24 month clawback policy in place in the event of executive misconduct resulting in a material restatement in our financial statements | ![]() | We don’t provide any gross-ups for perquisites or excise taxes, such as 280G taxes in the event of a change of control, other than certain relocation expenses |
![]() | Engage a fully independent compensation consultant | ![]() | We don’t provide single-trigger change in control agreements |
![]() | Our executives have at-will employment agreements | ![]() | We don’t allow executives to hedge or pledge their Hill-Rom stock, unless explicitly approved by the Board |
Element | Purpose | Key Characteristics | |
Base Salary | Reflects each executive’s base level of responsibility, qualifications and contributions to the company | Fixed compensation that is reviewed and, if appropriate, adjusted annually | |
Variable Cash Incentive - STIC Award | Motivates our executives to achieve annual company objectives that the Board believes will drive long-term growth in shareholder value | ||
Long-term, Equity Incentive - PSU Award | Motivates our executives by directly linking their compensation to the value of our stock relative to our peer group | ||
Long-term, Equity Incentive - RSU Award | Motivates our executives by tying compensation to long-term stock appreciation; additionally, the time-vesting nature of the awards helps enable executive retention | Long-term restricted stock units vest on a three | |
Long-term, Equity Incentive - Stock Options | Motivates our executives by linking their compensation to appreciation in our stock price | Stock options vest 25% per year over a four year period |
Name* | 2014 Salary | 2015 Salary | % Increase | |||||||||
John J. Greisch | $ | 965,000 | $ | 1,000,000 | 3.6 | % | ||||||
Susan R. Lichtenstein | $ | 453,614 | $ | 464,000 | 2.3 | % | ||||||
Alton E. Shader | $ | 420,240 | $ | 430,000 | 2.3 | % | ||||||
*Table represents continuing NEOs only. |
STIC Targets and Achievement Calculation | ||||||
Threshold | Target | Maximum | Weight | Actual | Achievement | |
Revenue | $1,564 | $1,738 | $1,911 | 40% | $1,658 | 95.4% |
Adjusted EPS* | $2.13 | $2.51 | $2.89 | 60% | $2.21 | 61.8% |
Total Weighted Average Achievement** | 73% | |||||
*Adjusted for the impact of acquisitions and various one-time events (such as litigation settlements, changes in policies, and certain other unusual charges or benefits) from our as-reported financial results. These amounts may differ from our reported adjusted numbers. ** Total achievement is lower than a simple weighted average calculation due to Compensation Committee discretion. |
STIC Target Opportunities | ||
Name | FY 2014 | FY 2015 |
John J. Greisch | 110% | 110% |
Susan R. Lichtenstein | 60% | 60% |
James K. Saccaro* | 75% | N/A |
Michael S. Macek | 40% | 40% |
Alejandro Infante Saracho* | 70% | N/A |
Alton E. Shader | 70% | 70% |
* FY 2015 not applicable as participants left Hill-Rom |
· | Awards, at target, that are aligned with competitive market levels; |
· | Payouts that correlate with high performance resulting in increased payouts and low performance resulting in reduced payouts; |
· | A mix of awards representative of typical market practice; and |
· | Awards that support internal equity among Hill-Rom’s executives. |
LTI Target Opportunities | ||
Name | FY 2014 | FY 2015 |
John J. Greisch | 400% | 450% |
Susan R. Lichtenstein | 175% | 175% |
James K. Saccaro* | 200% | N/A |
Michael S. Macek | 60% | 60% |
Alejandro Infante Saracho* | 175% | N/A |
Alton E. Shader | 175% | 175% |
* No grant provided for FY 2015 as participants left Hill-Rom |
Fiscal Year 2013 PSU Grants | |
Company’s TSR over Three Year Performance Period | % of Target Award Vested |
Less than 25th percentile | 0% |
25th percentile* | 50% |
35th percentile | 64% |
45th percentile | 79% |
50th percentile | 86% |
60th percentile** | 100% |
*Awards between 25th and 60th percentile are made based on a straight-line interpolation. **Performance above 60th percentile may be awarded bonus shares up to 100% of the target amount at the discretion of the Compensation Committee |
Fiscal Year 2014 and 2015 PSU Grants | |||
Performance Level | Free Cash Flow Achievement Modifier | Relative TSR Achievement Modifier* | Total Performance Modifier |
Below Threshold | 0% | 50% | 0% |
Threshold | 50% | 50% | 25% |
Target | 100% | 100% | 100% |
Maximum | 150% | 150% | 225% |
*Modifies one-year adjusted free cash-flow achievement based on three-year TSR measurement period. Modifiers between the threshold and maximum percentile amounts are based on straight-line interpolation. |
· | accelerated vesting of outstanding time-based RSUs and stock options, which have been held for at least one year; |
· | partial vesting of outstanding PSUs and/or performance-based stock options, which have been held for at least one year and for which performance objectives have been achieved; and |
· | an extension of up to three years of the time to exercise eligible outstanding stock options. |
Peer Group Companies | |
Alere Inc. | Intuitive Surgical, Inc. |
C. R. Bard, Inc. | Invacare Corporation |
CareFusion Corp. | Mednax, Inc. |
Chemed Corp. | PerkinElmer, Inc. |
Conmed Corporation | ResMed Inc. |
Dentsply International Inc. | Sirona Dental Systems Labs, Inc. |
Edwards Lifesciences Corporation | Steris Corporation |
Hologic, Inc | Teleflex, Inc. |
Hospira, Inc. | The Cooper Companies, Inc. |
IDEXX Laboratories, Inc. | Varian Medical Systems, Inc. |
Integra Lifesciences Holdings Corporation | West Pharmaceutical Services, Inc. |
Zimmer Holdings, Inc. |
· |
· | Payouts that correlate with high performance resulting in increased payouts and low performance resulting in reduced payouts; |
· | A mix of awards representative of typical market |
· | Awards that support internal equity among Hill-Rom’s executives. |
LTI Target Opportunities | ||
Name | FY 2014 | FY 2015 |
John J. Greisch | 400% | 450% |
Susan R. Lichtenstein | 175% | 175% |
James K. Saccaro* | 200% | N/A |
Michael S. Macek | 60% | 60% |
Alejandro Infante Saracho* | 175% | N/A |
Alton E. Shader | 175% | 175% |
* No grant provided for FY 2015 as participants left Hill-Rom |
Fiscal Year 2013 PSU Grants | |
Company’s TSR over Three Year Performance Period | % of Target Award Vested |
Less than 25th percentile | 0% |
25th percentile* | 50% |
35th percentile | 64% |
45th percentile | 79% |
50th percentile | 86% |
60th percentile** | 100% |
*Awards between 25th and 60th percentile are made based on a straight-line interpolation. **Performance above 60th percentile may be awarded bonus shares up to 100% of the target amount at the discretion of the Compensation Committee |
Fiscal Year 2014 and 2015 PSU Grants | |||
Performance Level | Free Cash Flow Achievement Modifier | Relative TSR Achievement Modifier* | Total Performance Modifier |
Below Threshold | 0% | 50% | 0% |
Threshold | 50% | 50% | 25% |
Target | 100% | 100% | 100% |
Maximum | 150% | 150% | 225% |
*Modifies one-year adjusted free cash-flow achievement based on three-year TSR measurement period. Modifiers between the threshold and maximum percentile amounts are based on straight-line interpolation. |
· | accelerated vesting of outstanding time-based RSUs and stock options, which have been held for at least one year; |
· |
· |
Alere Inc. | |
C. R. Bard, Inc. | Invacare Corporation |
CareFusion Corp. | Mednax, Inc. |
Chemed Corp. | PerkinElmer, Inc. |
Conmed Corporation | ResMed Inc. |
Dentsply International Inc. | Sirona Dental Systems Labs, Inc. |
Edwards Lifesciences Corporation | Steris Corporation |
Hologic, Inc | Teleflex, Inc. |
Hospira, Inc. | The Cooper Companies, Inc. |
IDEXX Laboratories, Inc. | Varian Medical Systems, Inc. |
Integra Lifesciences Holdings Corporation | West Pharmaceutical Services, Inc. |
Zimmer Holdings, Inc. |
Name | 2013 Salary | 2014 Salary | % Increase |
John J. Greisch | $945,000 | $965,000 | 2% |
Alejandro Infante Saracho | $400,350 | $412,000 | 3% |
Susan R. Lichtenstein | $444,720 | $453,614 | 2% |
Michael S. Macek | $210,125 | $221,000 | 5% |
Gregory Pritchard | $408,000 | $408,000 | 0% |
Threshold | Target | Maximum | Weight | Actual | Achievement | |
Revenue | $1,578 | $1,753 | $1,928 | 40% | $1,716 | 39.2% |
Adjusted EBITDA* | $287 | $338 | $389 | 60% | $311 | 49.1% |
Total Weighted Average Achievement | 88.3% | |||||
*Adjusted for the impact of acquisitions and various one-time events (such as litigation settlements, changes in accounting policies, and certain other unusual charges or benefits) from our as-reported financial results. These amounts may differ from our reported adjusted numbers. |
· | Awards, at target, that are aligned with competitive market levels; |
· | Payouts that correlate with high performance resulting in increased payouts and low performance resulting in reduced payouts; |
· | A mix of awards representative of typical market practice; and |
· | Awards that support internal equity among Hill-Rom’s executives. |
LTI Target Opportunities | ||
Name | FY 2014 | FY 2015 |
John J. Greisch | 400% | 450% |
Susan R. Lichtenstein | 175% | 175% |
James K. Saccaro* | 200% | N/A |
Michael S. Macek | 60% | 60% |
Alejandro Infante Saracho* | 175% | N/A |
Alton E. Shader | 175% | 175% |
* No grant provided for FY 2015 as participants left Hill-Rom |
Company’s TSR over Three Year Performance Period | % of Target Award Vested | |
Less than 25th percentile | 0% | |
25th percentile* | 50% | |
35th percentile | 64% | |
45th percentile | 79% | |
50th percentile | 86% | |
60th percentile** | 100% | |
*Awards between 25th and 60th percentile are made based on a straight-line interpolation. **Performance above 60th percentile may be awarded bonus shares up to 100% of the target amount at the discretion of the Compensation Committee |
Fiscal Year 2014 PSU Grants | ||||
Performance Level | Free Cash Flow Achievement Modifier | Relative TSR Achievement Modifier* | Total Performance Modifier | |
Below Threshold | 0% | 0% | 0% | |
Threshold | 50% | 50% | 25% | |
Target | 100% | 100% | 100% | |
Maximum | 150% | 150% | 225% |
Fiscal Year 2014 and 2015 PSU Grants | |||
Performance Level | Free Cash Flow Achievement Modifier | Relative TSR Achievement Modifier* | Total Performance Modifier |
Below Threshold | 0% | 50% | 0% |
Threshold | 50% | 50% | 25% |
Target | 100% | 100% | 100% |
Maximum | 150% | 150% | 225% |
*Modifies one-year adjusted free cash-flow achievement based on three-year TSR measurement period. Modifiers between the threshold and maximum percentile amounts are based on straight-line interpolation. |
· | accelerated vesting of outstanding time-based RSUs and stock options, which have been held for at least one year; |
· | partial vesting of outstanding PSUs and/or performance-based stock options, which have been held for at least one year and for which performance objectives have been achieved; and |
· | an extension of up to three years of the time to exercise eligible outstanding stock options. |
Peer Group Companies | |
Alere Inc. | Intuitive Surgical, Inc. |
C. R. Bard, Inc. | Invacare Corporation |
CareFusion Corp. | Mednax, Inc. |
Chemed Corp. | PerkinElmer, Inc. |
Conmed Corporation | ResMed Inc. |
Dentsply International Inc. | Sirona Dental Systems Labs, Inc. |
Edwards Lifesciences Corporation | Steris Corporation |
Hologic, Inc | Teleflex, Inc. |
Hospira, Inc. | The Cooper Companies, Inc. |
IDEXX Laboratories, Inc. | Varian Medical Systems, Inc. |
Integra Lifesciences Holdings Corporation | West Pharmaceutical Services, Inc. |
Zimmer Holdings, Inc. |
· | appropriate pay philosophy, peer group and market positioning; |
· | effective balance in cash and equity mix, short and long term focus, corporate, business unit and individual performance focus and financial and non-financial performance measurement and discretion; |
· | compensation programs designed to avoid excessive risk-taking; and |
· | meaningful risk mitigants, such as the stock ownership guidelines and executive compensation recoupment policies. |
COMPENSATION OF NAMED EXECUTIVE OFFICERS |
Non-Equity | Non-Equity | ||||||||||||||||||||||||||||||||||||
Name and | Stock | Option | Incentive Plan | All Other | Stock | Option | Incentive Plan | All Other | |||||||||||||||||||||||||||||
Principal Position | Year | Salary | Bonus (1) | Awards (2) | Awards (3) | Compensation (4) | Compensation (5) | Total | Year | Salary | Bonus (1) | Awards (2) | Awards (3) | Comp. (4) | Comp. (5) | Total | |||||||||||||||||||||
JOHN J. GREISCH | 2013 | $942,644 | None | $2,331,985 | $952,230 | $832,355 | $193,597 | $5,252,811 | 2014 | $ | 961,923 | None | $ | 5,187,933 | $ | 963,908 | $ | 774,895 | $ | 197,226 | $ | 8,085,885 | |||||||||||||||
President and Chief Executive Officer, | 2012 | $920,970 | None | $1,404,277 | $1,850,004 | $442,894 | $192,185 | $4,810,330 | 2013 | $ | 942,644 | None | $ | 2,331,985 | $ | 952,230 | $ | 832,355 | $ | 193,597 | $ | 5,252,811 | |||||||||||||||
Member of the Board of Directors | 2011 | $887,397 | None | $1,448,171 | $1,800,207 | $1,197,986 | $175,002 | $5,508,763 | 2012 | $ | 920,970 | None | $ | 1,404,277 | $ | 1,850,004 | $ | 442,894 | $ | 192,185 | $ | 4,810,330 | |||||||||||||||
MICHAEL S. MACEK (6) | 2013 | $208,875 | None | $79,690 | $32,542 | $84,841 | $10,627 | $416,575 | 2014 | $ | 234,096 | None | $ | 236,894 | $ | 41,373 | $ | 102,940 | $ | 16,898 | $ | 632,201 | |||||||||||||||
Vice President Financial Planing and Analysis, | |||||||||||||||||||||||||||||||||||||
Treasurer and Interim Chief Financial Officer | |||||||||||||||||||||||||||||||||||||
Vice President, Treasurer and | 2013 | $ | 208,875 | None | $ | 79,690 | $ | 32,542 | $ | 84,841 | $ | 10,627 | $ | 416,575 | |||||||||||||||||||||||
Interim Chief Financial Officer | |||||||||||||||||||||||||||||||||||||
MARK J. GUINAN (7) | 2013 | $309,119 | None | $583,342 | $238,194 | $0 | $55,628 | $1,186,283 | |||||||||||||||||||||||||||||
JAMES K. SACCARO (7) | 2014 | $ | 238,846 | $ | 250,000 | $ | 2,013,847 | $ | 230,001 | $ | 0 | $ | 35,107 | $ | 2,767,801 | ||||||||||||||||||||||
Former Senior Vice President and | 2012 | $460,904 | None | $387,020 | $509,851 | $150,541 | $141,302 | $1,649,618 | |||||||||||||||||||||||||||||
Chief Financial Officer | 2011 | $360,000 | $200,000 | $1,612,059 | $778,440 | $400,950 | $59,471 | $3,410,920 | |||||||||||||||||||||||||||||
ALEJANDRO INFANTE SARACHO | 2013 | $399,425 | None | $432,253 | $176,496 | $246,885 | $52,602 | $1,307,661 | 2014 | $ | 410,208 | None | $ | 796,746 | $ | 180,417 | $ | 157,899 | $ | 50,734 | $ | 1,596,004 | |||||||||||||||
Senior Vice President and | 2012 | $391,291 | None | $234,639 | $309,097 | $102,150 | $49,729 | $1,086,906 | |||||||||||||||||||||||||||||
Former Senior Vice President and | 2013 | $ | 399,425 | None | $ | 432,253 | $ | 176,496 | $ | 246,885 | $ | 52,602 | $ | 1,307,661 | |||||||||||||||||||||||
President International | 2011 | $380,589 | None | $298,151 | $370,613 | $262,036 | $50,680 | $1,362,069 | 2012 | $ | 391,291 | None | $ | 234,639 | $ | 309,097 | $ | 102,150 | $ | 49,729 | $ | 1,086,906 | |||||||||||||||
SUSAN R. LICHTENSTEIN | 2013 | $443,693 | None | $480,165 | $196,057 | $235,068 | $53,649 | $1,408,632 | 2014 | $ | 452,246 | None | $ | 789,227 | $ | 208,381 | $ | 208,617 | $ | 56,738 | $ | 1,715,209 | |||||||||||||||
Senior Vice President, Corporate Affairs, | 2012 | $433,953 | None | $318,548 | $419,650 | $119,250 | $52,704 | $1,344,105 | 2013 | $ | 443,693 | None | $ | 480,165 | $ | 196,057 | $ | 235,068 | $ | 53,649 | $ | 1,408,632 | |||||||||||||||
Chief Legal Officer and Secretary | 2011 | $422,254 | None | $297,995 | $370,430 | $376,228 | $53,978 | $1,520,885 | 2012 | $ | 433,953 | None | $ | 318,548 | $ | 419,650 | $ | 119,250 | $ | 52,704 | $ | 1,344,105 | |||||||||||||||
GREGORY PRITCHARD (8) | 2013 | $407,058 | None | $502,170 | $205,051 | $194,093 | $49,836 | $1,358,208 | |||||||||||||||||||||||||||||
Former Senior Vice President and | |||||||||||||||||||||||||||||||||||||
President Surgical and Respiratory Care | |||||||||||||||||||||||||||||||||||||
ALTON E. SHADER (8) | 2014 | $ | 418,357 | None | $ | 1,068,911 | $ | 202,249 | $ | 204,006 | $ | 51,247 | $ | 1,944,770 | |||||||||||||||||||||||
Senior Vice President and | |||||||||||||||||||||||||||||||||||||
President North America |
1) | In |
2) | The |
3) | The amounts in this column represent the grant date fair value of time-based stock options granted during the applicable fiscal years, excluding the reduction for risk of forfeiture. These grant date fair values were based on the methodology set forth in Notes 1 and 7 to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended September 30, |
4) | The amounts in this column represent cash awards earned for the applicable fiscal year and paid in the subsequent fiscal year, under our 162(m) Incentive Plan. |
5) | Please refer to the “All Other Compensation” table below for further information: |
Name | 401(k) (a) | Supp 401(k) (a) | Other Benefits | Total All Other Compensation |
Mr. Greisch | $17,650 | $170,239 | $5,708 | $193,597 |
Mr. Macek | $10,570 | $0 | $57 | $10,627 |
Mr. Guinan | $17,650 | $29,951 | $8,027 | $55,628 |
Mr. Infante Saracho | $17,650 | $26,859 | $8,093 | $52,602 |
Ms. Lichtenstein | $17,650 | $31,803 | $4,196 | $53,649 |
Mr. Pritchard | $20,940 | $25,086 | $3,810 | $49,836 |
All Other Compensation for Fiscal Year 2014 | ||||
Company Contributions | ||||
Name | 401(k) (a) | Supp 401(k) (a) | Other Benefits | Total All Other Compensation |
Mr. Greisch | $18,400 | $173,888 | $4,938 | $197,226 |
Mr. Macek | $16,581 | $0 | $317 | $16,898 |
Mr. Saccaro | $15,481 | $19,076 | $550 | $35,107 |
Mr. Infante Saracho | $18,400 | $26,859 | $5,475 | $50,734 |
Ms. Lichtenstein | $18,400 | $32,443 | $5,895 | $56,738 |
Mr. Shader | $18,400 | $25,694 | $7,153 | $51,247 |
a) | Amounts represent Company matching contributions to the Named Executive Officer’s accounts in the applicable plans: 401(k) Savings Plan and 401(k) Savings Plan portion of the |
6) |
7) | Prior to his resignation on July |
8) | Prior to fiscal 2014, Mr. |
All Other | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Future Payouts Under Non-Equity | Estimated Future Payouts Under Equity | Awards: | Exercise | Grant Date | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Incentive Plan Awards (1) | Incentive Plan Awards (2) | Number of | or Base | Fair Value | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual | Shares or | Price of | of Stock | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Future Payouts Under Non-Equity Incentive Plan Awards (1) | Estimated Future Payouts Under Equity Incentive Plan Awards (2) | All Other Stock Awards: | Exercise or | Grant Date Fair Value of | Grant | Amount | Stock Units | Option | and Option | |||||||||||||||||||||||||||||||||||||||||||||||
Name | Grant Date | Actual Amount 2013 | Min | Target | Maximum | Min | Target | Maximum | Number of Shares or Stock Units (3) | Base Price of Option Awards (4) | Stock and Option Awards (5) | Date | 2014 | Min. | Target | Max. | Min. | Target | Max. | (3) | Awards (4) | Awards (5) | ||||||||||||||||||||||||||||||||||
John J. Greisch | $832,355 | - | $942,644 | $2,120,949 | $ | 774,895 | - | $ | 1,061,500 | $ | 2,388,375 | |||||||||||||||||||||||||||||||||||||||||||||
11/18/2013 | 80,797 | $ | 41.53 | $ | 963,908 | |||||||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | 120,383 | $26.94 | $952,230 | 11/18/2013 | 23,210 | $ | 963,911 | |||||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | 35,078 | $945,001 | 12/12/2013 | 50,026 | $ | 2,000,040 | ||||||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | - | 70,156 | 70,156 | $1,386,984 | 11/18/2013 | - | 46,420 | 104,445 | $ | 2,223,982 | ||||||||||||||||||||||||||||||||||||||||||||||
Michael S. Macek | $84,841 | - | $83,550 | $187,988 | $ | 102,940 | - | $ | 94,009 | $ | 211,520 | |||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | 4,114 | $26.94 | $32,542 | 11/18/2013 | 3,468 | $ | 41.53 | $ | 41,373 | |||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | 1,199 | $32,301 | 11/18/2013 | 3,405 | $ | 141,409 | ||||||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | - | 2,397 | 2,397 | $47,389 | 11/18/2013 | - | 1,993 | 4,484 | $ | 95,485 | ||||||||||||||||||||||||||||||||||||||||||||||
Mark J. Guinan (6) | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||
James K. Saccaro (6) | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | 30,113 | $26.94 | $238,194 | 12/30/2013 | 19,393 | $ | 41.29 | $ | 230,001 | |||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | 8,775 | $236,399 | 12/30/2013 | 35,846 | $ | 1,480,082 | ||||||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | - | 17,549 | 17,549 | $346,943 | 12/30/2013 | - | 11,141 | 25,067 | $ | 533,765 | ||||||||||||||||||||||||||||||||||||||||||||||
Alejandro Infante Saracho | $246,885 | - | $279,598 | $629,096 | $ | 157,899 | - | $ | 288,400 | $ | 648,900 | |||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | 22,313 | $26.94 | $176,496 | 11/18/2013 | 15,123 | $ | 41.53 | $ | 180,417 | |||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | 6,502 | $175,164 | 11/18/2013 | 9,161 | $ | 380,456 | ||||||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | - | 13,004 | 13,004 | $257,089 | 11/18/2013 | - | 8,689 | 19,550 | $ | 416,290 | ||||||||||||||||||||||||||||||||||||||||||||||
Susan R. Lichtenstein | $235,068 | - | $266,216 | $598,986 | $ | 208,617 | - | $ | 272,168 | $ | 612,378 | |||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | 24,786 | $26.94 | $196,057 | 11/18/2013 | 17,467 | $ | 41.53 | $ | 208,381 | |||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | 7,223 | $194,588 | 11/18/2013 | 7,426 | $ | 308,402 | ||||||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | - | 14,445 | 14,445 | $285,577 | 11/18/2013 | - | 10,036 | 22,581 | $ | 480,825 | ||||||||||||||||||||||||||||||||||||||||||||||
Gregory Pritchard | $194,093 | - | $244,235 | $549,529 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Alton E. Shader | $ | 204,006 | - | $ | 294,168 | $ | 661,878 | |||||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | 25,923 | $26.94 | $205,051 | 11/18/2013 | 16,953 | $ | 41.53 | $ | 202,249 | |||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | 7,554 | $203,505 | 11/18/2013 | 14,502 | $ | 602,268 | ||||||||||||||||||||||||||||||||||||||||||||||||||
11/13/2012 | - | 15,107 | 15,107 | $298,665 | 11/18/2013 | - | 9,740 | 21,915 | $ | 466,643 |
1) | Amounts represent actual and the potential cash awards that could |
2) | The amounts under the “Maximum” column reflect the number of PSUs granted to the Named Executive Officer on November |
3) | Amounts under this column represent stock options and RSU’s granted to our Named Executive Officers during fiscal year |
4) | The average of the high and low selling prices of our common stock on the New York Stock Exchange on the grant date. |
5) | The grant date fair values of stock and option awards granted to our Named Executive Officers are based on the methodology set forth in Notes 1 and 7 to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended September 30, |
6) | Due to Mr. |
Option Awards | Stock Awards | ||||||||||||||||||
Name | Number of Securities Underlying Unexercised Options | Number of Securities Underlying Unexercised Options Unexcercisable | Option Grant Date (1) | Option Exercise Price | Option Expiration Date | Grant Date | Number of Shares or Units of Stock That Have Not Vested (2) | Market Value of Shares or Units of Stock That Have Not Vested (3) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (4) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested (3) | |||||||||
John J. Greisch | 155,990 | 51,997 | 1/8/2010 | $23.92 | 1/8/2020 | 1/8/2010 | 17,628 | $631,608 | |||||||||||
73,839 | 73,840 | 11/16/2010 | $38.81 | 11/16/2020 | 11/16/2010 | 46,386 | $1,662,010 | ||||||||||||
47,290 | 141,872 | 11/29/2011 | $30.63 | 11/29/2021 | 11/29/2011 | 60,399 | $2,164,096 | ||||||||||||
0 | 120,383 | 11/13/2012 | $26.94 | 11/13/2022 | 11/13/2012 | 35,639 | $1,276,939 | 70,156 | $2,513,689 | ||||||||||
Michael S. Macek | 2,250 | 0 | 5/27/2008 | $31.35 | 5/27/2018 | ||||||||||||||
0 | 774 | 12/3/2009 | $23.26 | 12/3/2019 | 12/3/2009 | 411 | $14,712 | ||||||||||||
1,436 | 1,436 | 11/16/2010 | $38.81 | 11/16/2020 | 11/16/2010 | 902 | $32,319 | ||||||||||||
3/8/2011 | 2,015 | $72,208 | |||||||||||||||||
0 | 4,602 | 11/29/2011 | $30.63 | 11/29/2021 | 11/29/2011 | 1,959 | $70,191 | ||||||||||||
0 | 4,114 | 11/13/2012 | $26.94 | 11/13/2022 | 11/13/2012 | 1,218 | $43,647 | 2,397 | $85,885 | ||||||||||
Mark J. Guinan (5) | |||||||||||||||||||
Alejandro Infante Saracho | 10,302 | 3,435 | 5/6/2010 | $31.69 | 5/6/2020 | ||||||||||||||
15,201 | 15,202 | 11/16/2010 | $38.81 | 11/16/2020 | 11/16/2010 | 9,550 | $342,177 | ||||||||||||
7,901 | 23,704 | 11/29/2011 | $30.63 | 11/29/2021 | 11/29/2011 | 10,092 | $361,596 | ||||||||||||
0 | 22,313 | 11/13/2012 | $26.94 | 11/13/2022 | 11/13/2012 | 6,606 | $236,691 | 13,004 | $465,933 | ||||||||||
Susan R. Lichtenstein | 14,718 | 4,907 | 5/6/2010 | $31.69 | 5/6/2020 | ||||||||||||||
15,194 | 15,194 | 11/16/2010 | $38.81 | 11/16/2020 | 11/16/2010 | 9,545 | $341,997 | ||||||||||||
10,727 | 32,182 | 11/29/2011 | $30.63 | 11/29/2021 | 11/29/2011 | 13,701 | $490,907 | ||||||||||||
0 | 24,786 | 11/13/2012 | $26.94 | 11/13/2022 | 11/13/2012 | 7,338 | $262,938 | 14,445 | $517,564 | ||||||||||
Gregory Pritchard | 0 | 25,923 | 11/13/2012 | $26.94 | 11/13/2022 | 11/13/2012 | 7,675 | $274,987 | 15,107 | $541,284 |
Option Awards | Stock Awards | |||||||||||||||||||||||||||||||
Name | Number of Securities Underlying Unexercised Options | Number of Securities Underlying Unexercised Options Unexcercisable | Option Grant Date (1) | Option Exercise Price | Option Expiration Date | Grant Date | Number of Shares or Units of Stock That Have Not Vested (2) | Market Value of Shares or Units of Stock That Have Not Vested (3) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (4) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested (3) | ||||||||||||||||||||||
John J. Greisch | 207,987 | 0 | 1/8/2010 | $ | 23.92 | 1/8/2020 | ||||||||||||||||||||||||||
110,759 | 36,920 | 11/16/2010 | $ | 38.81 | 11/16/2020 | |||||||||||||||||||||||||||
94,581 | 94,581 | 11/29/2011 | $ | 30.63 | 11/29/2021 | 11/29/2011 | 34,428 | $ | 1,426,352 | |||||||||||||||||||||||
30,095 | 90,288 | 11/13/2012 | $ | 26.94 | 11/13/2022 | 11/13/2012 | 36,163 | $ | 1,498,250 | 70,156 | $ | 2,906,563 | ||||||||||||||||||||
0 | 80,797 | 11/18/2013 | $ | 41.53 | 11/18/2023 | 11/18/2013 | 23,552 | $ | 975,744 | 46,420 | $ | 1,923,181 | ||||||||||||||||||||
12/12/2013 | 50,762 | $ | 2,103,083 | �� | ||||||||||||||||||||||||||||
Michael S. Macek | 2,250 | 0 | 5/27/2008 | $ | 31.35 | 5/27/2018 | ||||||||||||||||||||||||||
2,154 | 718 | 11/16/2010 | $ | 38.81 | 11/16/2020 | |||||||||||||||||||||||||||
1,534 | 3,068 | 11/29/2011 | $ | 30.63 | 11/29/2021 | 11/29/2011 | 1,117 | $ | 46,277 | |||||||||||||||||||||||
0 | 3,086 | 11/13/2012 | $ | 26.94 | 11/13/2022 | 11/13/2012 | 1,236 | $ | 51,212 | 2,397 | $ | 99,308 | ||||||||||||||||||||
0 | 3,468 | 11/18/2013 | $ | 41.53 | 11/18/2023 | 11/18/2013 | 3,455 | $ | 143,146 | 1,993 | $ | 82,570 | ||||||||||||||||||||
James K. Saccaro (5) | ||||||||||||||||||||||||||||||||
Alejandro Infante Saracho | 13,737 | 0 | 5/6/2010 | $ | 31.69 | 5/6/2020 | ||||||||||||||||||||||||||
22,802 | 7,601 | 11/16/2010 | $ | 38.81 | 11/16/2020 | |||||||||||||||||||||||||||
15,802 | 15,803 | 11/29/2011 | $ | 30.63 | 11/29/2021 | 11/29/2011 | 5,753 | $ | 238,347 | |||||||||||||||||||||||
5,578 | 16,735 | 11/13/2012 | $ | 26.94 | 11/13/2022 | 11/13/2012 | 6,703 | $ | 277,713 | 13,004 | $ | 538,756 | ||||||||||||||||||||
0 | 15,123 | 11/18/2013 | $ | 41.53 | 11/18/2023 | 11/18/2013 | 9,296 | $ | 385,127 | 8,689 | $ | 359,985 | ||||||||||||||||||||
Susan R. Lichtenstein | 19,625 | 0 | 5/6/2010 | $ | 31.69 | 5/6/2020 | ||||||||||||||||||||||||||
22,791 | 7,597 | 11/16/2010 | $ | 38.81 | 11/16/2020 | |||||||||||||||||||||||||||
21,454 | 21,455 | 11/29/2011 | $ | 30.63 | 11/29/2021 | 11/29/2011 | 7,810 | $ | 323,568 | |||||||||||||||||||||||
6,196 | 18,590 | 11/13/2012 | $ | 26.94 | 11/13/2022 | 11/13/2012 | 7,447 | $ | 308,508 | 14,445 | $ | 598,456 | ||||||||||||||||||||
0 | 17,467 | 11/18/2013 | $ | 41.53 | 11/18/2023 | 11/18/2013 | 7,535 | $ | 312,188 | 10,036 | $ | 415,791 | ||||||||||||||||||||
Alton E. Shader | 2,991 | 997 | 7/11/2011 | $ | 45.91 | 7/11/2021 | ||||||||||||||||||||||||||
10,169 | 10,169 | 11/29/2011 | $ | 30.63 | 11/29/2021 | 11/29/2011 | 3,702 | $ | 153,374 | |||||||||||||||||||||||
5,684 | 17,055 | 11/13/2012 | $ | 26.94 | 11/13/2022 | 11/13/2012 | 6,831 | $ | 283,009 | 13,252 | $ | 549,030 | ||||||||||||||||||||
0 | 16,953 | 11/18/2013 | $ | 41.53 | 11/18/2023 | 11/18/2013 | 14,715 | $ | 609,661 | 9,740 | $ | 403,528 |
1) | Unvested stock options based solely on continued employment will become exercisable in four equal annual installments beginning on the first anniversary of the date of grant. |
2) | Unvested RSUs based solely on continued employment will vest in accordance with the following vesting schedules. The amounts include reinvested dividends. |
Grant Date | Remaining Vesting Schedules (as of 9/30/ | |
12/12/2013 | 25,381 shares fully vest on 12/13/2018 | |
12/12/2013 | 25,381 shares fully vest on 12/13/2016 | |
11/18/2013 | Fully vest on 11/19/2016 | |
11/13/2012 | Fully vest on 11/14/2015 | |
3) | Market value is determined by multiplying the number of unvested RSUs and/or PSUs by |
4) | Represents PSUs granted on November |
5) | As a result of Mr. |
Option Awards | Stock Awards | |||
Name | Number of Shares Acquired on Exercise | Value Realized on Exercise | Number of Shares Acquired on Vesting (1) | Value Realized on Vesting |
John J. Greisch | - | - | 64,073 | $2,438,636 |
Michael S. Macek | 1,802 | $22,324 | 3,336 | $126,300 |
James K. Saccaro | - | - | - | - |
Alejandro Infante Saracho | - | - | 9,550 | $344,469 |
Susan R. Lichtenstein | - | - | 9,545 | $344,288 |
Alton E. Shader | - | - | 8,582 | $344,810 |
Option Awards | Stock Awards | |||
Name | Number of Shares Acquired on Exercise | Value Realized on Exercise | Number of Shares Acquired on Vesting (1) | Value Realized on Vesting |
John J. Greisch | - | - | 10,457 | $320,402 |
Michael S. Macek | 3,751 | 35,861 | 975 | $27,268 |
Mark J. Guinan | 13,033 | 79,718 | 10,127 | $293,480 |
Alejandro Infante Saracho | - | - | 5,755 | $200,389 |
Susan R. Lichtenstein | - | - | 8,220 | $286,220 |
Gregory Pritchard | - | - | - | - |
1) | The pre-tax amounts indicated include a portion of dividends accrued and paid on the date the stock awards vested. |
Name | Plan (2) | Executive Contributions in Last FY | Registrant Contributions in Last FY | Aggregate Earnings in Last FY (3) | Aggregate Withdrawals/ Distributions | Aggregate Balance at Last FYE (4) |
John J. Greisch | SERP | - | $173,888 | $66,126 | None | $921,118 |
Michael S. Macek | SERP | - | - | - | None | - |
James K. Saccaro (1) | SERP | - | $19,076 | $117 | None | $10,967 |
Alejandro Infante Saracho | SERP | - | $27,706 | $9,793 | None | $127,609 |
Susan R. Lichtenstein | SERP | - | $32,443 | $10,281 | None | $147,433 |
Alton E. Shader | SERP | - | $25,694 | $6,359 | None | $82,265 |
Name | Plan (2) | Executive Contributions in Last FY | Registrant Contributions in Last FY | Aggregate Earnings in Last FY (3) | Aggregate Withdrawals/ Distributions | Aggregate Balance at Last FYE (4) |
John J. Greisch | SERP | - | $170,239 | $48,376 | None | $681,104 |
Michael S. Macek | SERP | - | - | - | None | - |
Mark J. Guinan | SERP | - | $29,951 | $10,344 | None | $113,278 |
Alejandro Infante Saracho | SERP | - | $26,859 | $7,687 | None | $90,110 |
Susan R. Lichtenstein | SERP | - | $31,803 | $7,188 | None | $104,709 |
Greg Pritchard (1) | SERP | - | $25,086 | $1,426 | None | $28,882 |
1) | Prior to Mr. |
2) | We maintain a 401(k) Savings Plan portion of the SERP to provide additional retirement benefits to certain employees whose retirement benefits under the 401(k) Savings Plan are limited under the Internal Revenue Code of 1986. The additional retirement benefits provided by the SERP are for certain participants chosen by the Compensation Committee, and they may annually receive an additional benefit of a certain percentage of their Compensation for such year. “Compensation” under the SERP means the corresponding definition of compensation under the 401(k) Savings Plan plus a percentage of a participant's eligible compensation as determined under our STIC Program. A lump sum cash payment is available to the participant beginning on the six-month anniversary of the date of the Named Executive Officer’s termination of employment (except for termination for cause, where the entire SERP is forfeited). |
3) |
4) |
Plan (1) | Aggregate Summary Compensation Table | |
John J. Greisch | SERP | $ |
SERP | $ | |
Alejandro Infante Saracho | SERP | $ |
Susan R. Lichtenstein | SERP | $ |
SERP |
John J. Greisch | |||||||||||||||||||||||||||||||||||||
Accelerated | Accelerated | Continuance of | Limited | Accelerated | Accelerated | Continuance of | Limited | ||||||||||||||||||||||||||||||
Salary & Other | Vesting of | Vesting of | Health & | Outplacement | Salary & Other | Vesting of | Vesting of | Health & | Outplacement | ||||||||||||||||||||||||||||
Event | Cash Payments | Stock Options (2) | Stock Awards (3) | Welfare Benefits (4) | Assistance | Total | Cash Payments | Stock Options (2) | Stock Awards (3) | Welfare Benefits (4) | Assistance | Total | |||||||||||||||||||||||||
Permanent Disability (1) | $1,610,178 | $2,427,224 | $8,248,353 | $9,920 | $12,295,675 | $ | 1,507,979 | $ | 2,426,478 | $ | 10,833,172 | $ | 16,211 | $ | 14,783,840 | ||||||||||||||||||||||
Death | $536,346 | $2,427,224 | $8,248,353 | $7,340 | $11,219,263 | $ | 537,115 | $ | 2,426,478 | $ | 10,833,172 | $ | 13,631 | $ | 13,810,396 | ||||||||||||||||||||||
Termination Without Cause | $1,926,346 | $9,920 | $10,000 | $1,946,266 | $ | 1,967,115 | $ | 16,211 | $ | 10,000 | $ | 1,993,326 | |||||||||||||||||||||||||
Resignation With Good Reason | $1,926,346 | $9,920 | $10,000 | $1,946,266 | $ | 1,967,115 | $ | 16,211 | $ | 10,000 | $ | 1,993,326 | |||||||||||||||||||||||||
Termination for Cause | $36,346 | $36,346 | $ | 37,115 | $ | 37,115 | |||||||||||||||||||||||||||||||
Resignation Without Good Reason | $36,346 | $36,346 | $ | 37,115 | $ | 37,115 | |||||||||||||||||||||||||||||||
Retirement | $36,346 | $36,346 | $ | 37,115 | $ | 37,115 | |||||||||||||||||||||||||||||||
Michael S. Macek | |||||||||||||||||||||||||||||||||||||
Accelerated | Accelerated | Continuance of | Limited | Accelerated | Accelerated | Continuance of | Limited | ||||||||||||||||||||||||||||||
Salary & Other | Vesting of | Vesting of | Health & | Outplacement | Salary & Other | Vesting of | Vesting of | Health & | Outplacement | ||||||||||||||||||||||||||||
Event | Cash Payments | Stock Options (2) | Stock Awards (3) | Welfare Benefits (4) | Assistance | Total | Cash Payments | Stock Options (2) | Stock Awards (3) | Welfare Benefits (4) | Assistance | Total | |||||||||||||||||||||||||
Permanent Disability (1) | $1,919,466 | $70,233 | $318,959 | $4,992 | $2,313,650 | $ | 2,298,735 | $ | 79,732 | $ | 422,512 | $ | 4,396 | $ | 2,805,375 | ||||||||||||||||||||||
Death | $432,373 | $70,233 | $318,959 | $0 | $821,565 | $ | 504,135 | $ | 79,732 | $ | 422,512 | $ | 0 | $ | 1,006,379 | ||||||||||||||||||||||
Termination Without Cause | $117,185 | $2,496 | $0 | $119,681 | $ | 136,635 | $ | 4,396 | $ | 10,000 | $ | 151,031 | |||||||||||||||||||||||||
Resignation With Good Reason | $12,123 | $0 | $0 | $12,123 | $ | 136,635 | $ | 4,396 | $ | 10,000 | $ | 151,031 | |||||||||||||||||||||||||
Termination for Cause | $12,123 | $12,123 | $ | 14,135 | $ | 14,135 | |||||||||||||||||||||||||||||||
Resignation Without Good Reason | $12,123 | $12,123 | $ | 14,135 | $ | 14,135 | |||||||||||||||||||||||||||||||
Retirement | $12,123 | $12,123 | $ | 14,135 | $ | 14,135 | |||||||||||||||||||||||||||||||
Mark J. Guinan (6) | |||||||||||||||||||||||||||||||||||||
James K. Saccaro (5) | |||||||||||||||||||||||||||||||||||||
Alejandro Infante Saracho | |||||||||||||||||||||||||||||||||||||
Accelerated | Accelerated | Continuance of | Limited | Accelerated | Accelerated | Continuance of | Limited | ||||||||||||||||||||||||||||||
Salary & Other | Vesting of | Vesting of | Health & | Outplacement | Salary & Other | Vesting of | Vesting of | Health & | Outplacement | ||||||||||||||||||||||||||||
Event | Cash Payments | Stock Options (2) | Stock Awards (3) | Welfare Benefits (4) | Assistance | Total | Cash Payments | Stock Options (2) | Stock Awards (3) | Welfare Benefits (4) | Assistance | Total | |||||||||||||||||||||||||
Permanent Disability (1) | $2,006,956 | $335,844 | $1,406,399 | $14,450 | $3,763,649 | $ | 1,969,755 | $ | 433,077 | $ | 1,799,928 | $ | 14,155 | $ | 4,216,915 | ||||||||||||||||||||||
Death | $523,097 | $335,844 | $1,406,399 | $13,070 | $2,278,410 | $ | 523,769 | $ | 433,077 | $ | 1,799,928 | $ | 12,775 | $ | 2,769,549 | ||||||||||||||||||||||
Termination Without Cause | $423,447 | $14,450 | $10,000 | $447,897 | $ | 435,769 | $ | 14,155 | $ | 10,000 | $ | 459,924 | |||||||||||||||||||||||||
Resignation With Good Reason | $423,447 | $14,450 | $10,000 | $447,897 | $ | 435,769 | $ | 14,155 | $ | 10,000 | $ | 459,924 | |||||||||||||||||||||||||
Termination for Cause | $23,097 | $23,097 | $ | 23,769 | $ | 23,769 | |||||||||||||||||||||||||||||||
Resignation Without Good Reason | $23,097 | $23,097 | $ | 23,769 | $ | 23,769 | |||||||||||||||||||||||||||||||
Retirement | $23,097 | $23,097 | $ | 23,769 | $ | 23,769 | |||||||||||||||||||||||||||||||
Susan R. Lichtenstein | |||||||||||||||||||||||||||||||||||||
Accelerated | Accelerated | Continuance of | Limited | ||||||||||||||||||||||||||||||||||
Salary & Other | Vesting of | Vesting of | Health & | Outplacement | |||||||||||||||||||||||||||||||||
Event | Cash Payments | Stock Options (2) | Stock Awards (3) | Welfare Benefits (4) | Assistance | Total | |||||||||||||||||||||||||||||||
Permanent Disability (1) | $1,576,019 | $408,009 | $1,613,389 | $15,654 | $3,613,071 | ||||||||||||||||||||||||||||||||
Death | $525,657 | $408,009 | $1,613,389 | $13,074 | $2,560,129 | ||||||||||||||||||||||||||||||||
Termination Without Cause | $470,377 | $15,654 | $10,000 | $496,031 | |||||||||||||||||||||||||||||||||
Resignation With Good Reason | $470,377 | $15,654 | $10,000 | $496,031 | |||||||||||||||||||||||||||||||||
Termination for Cause | $25,657 | $25,657 | |||||||||||||||||||||||||||||||||||
Resignation Without Good Reason | $25,657 | $25,657 | |||||||||||||||||||||||||||||||||||
Retirement | $25,657 | $25,657 |
Gregory Pritchard | |||||||||||||||||||||||||||||||||||||
Susan R. Lichtenstein | |||||||||||||||||||||||||||||||||||||
Accelerated | Accelerated | Continuance of | Limited | Accelerated | Accelerated | Continuance of | Limited | ||||||||||||||||||||||||||||||
Salary & Other | Vesting of | Vesting of | Health & | Outplacement | Salary & Other | Vesting of | Vesting of | Health & | Outplacement | ||||||||||||||||||||||||||||
Event | Cash Payments | Stock Options (2) | Stock Awards (3) | Welfare Benefits (4) | Assistance | Total | Cash Payments | Stock Options (2) | Stock Awards (3) | Welfare Benefits (4) | Assistance | Total | |||||||||||||||||||||||||
Permanent Disability (1) | $1,765,403 | $230,455 | $816,279 | $14,450 | $2,826,587 | $ | 1,488,429 | $ | 520,987 | $ | 1,958,512 | $ | 15,373 | $ | 3,983,301 | ||||||||||||||||||||||
Death | $523,484 | $230,455 | $816,279 | $13,070 | $1,583,288 | $ | 526,170 | $ | 520,987 | $ | 1,958,512 | $ | 12,793 | $ | 3,018,462 | ||||||||||||||||||||||
Termination Without Cause | $430,542 | $14,450 | $10,000 | $454,992 | $ | 479,784 | $ | 15,373 | $ | 10,000 | $ | 505,157 | |||||||||||||||||||||||||
Resignation With Good Reason | $430,542 | $14,450 | $10,000 | $454,992 | $ | 479,784 | $ | 15,373 | $ | 10,000 | $ | 505,157 | |||||||||||||||||||||||||
Termination for Cause | $23,484 | $23,484 | $ | 26,170 | $ | 26,170 | |||||||||||||||||||||||||||||||
Resignation Without Good Reason | $23,484 | $23,484 | $ | 26,170 | $ | 26,170 | |||||||||||||||||||||||||||||||
Retirement | $23,484 | $23,484 | $ | 26,170 | $ | 26,170 | |||||||||||||||||||||||||||||||
Alton E. Shader | |||||||||||||||||||||||||||||||||||||
Accelerated | Accelerated | Continuance of | Limited | ||||||||||||||||||||||||||||||||||
Salary & Other | Vesting of | Vesting of | Health & | Outplacement | |||||||||||||||||||||||||||||||||
Event | Cash Payments | Stock Options (2) | Stock Awards (3) | Welfare Benefits (4) | Assistance | Total | |||||||||||||||||||||||||||||||
Permanent Disability (1) | $ | 2,948,503 | $ | 356,952 | $ | 1,998,603 | $ | 13,375 | $ | 5,317,433 | |||||||||||||||||||||||||||
Death | $ | 516,163 | $ | 356,952 | $ | 1,998,603 | $ | 12,775 | $ | 2,884,493 | |||||||||||||||||||||||||||
Termination Without Cause | $ | 436,403 | $ | 13,375 | $ | 10,000 | $ | 459,778 | |||||||||||||||||||||||||||||
Resignation With Good Reason | $ | 436,403 | $ | 13,375 | $ | 10,000 | $ | 459,778 | |||||||||||||||||||||||||||||
Termination for Cause | $ | 16,163 | $ | 16,163 | |||||||||||||||||||||||||||||||||
Resignation Without Good Reason | $ | 16,163 | $ | 16,163 | |||||||||||||||||||||||||||||||||
Retirement | $ | 16,163 | $ | 16,163 |
1) | Benefits provided under our disability plans are based on various circumstances including the Named Executive Officer meeting certain eligibility requirements. Our disability plans are fully insured; therefore, claim payments are reviewed and processed by our third party insurance carrier. The following assumptions were used to determine the salary and other cash payment amount for permanent disability: normal retirement age is based on the Social Security Normal Retirement Age Table, short-term disability benefits are based on salary continuation for 26 weeks; long-term disability benefits are based on the lesser of 60% of the Named Executive Officer's monthly earnings or $15,000 per month; and a |
2) | The amounts indicated represent the intrinsic value of all unvested non-qualified stock options that would have become immediately vested and exercisable upon permanent disability or death. The amounts were calculated based on the closing stock price of |
3) | The amounts indicated represent the market value of all unvested RSUs and PSUs that would have vested immediately and been distributed upon permanent disability or death. The amounts were calculated based on the closing stock price of |
4) | Amounts represent the dollar value of the incremental cost to Hill-Rom by providing continuing health and life insurance coverage based on the individual’s selected coverage in effect immediately before the hypothetical termination. |
5) | Mr. |
Acceleration of Stock Based Awards | Acceleration of Stock Based Awards | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Name | Salary | Incentive Comp. | Continuation Of Health and Welfare Benefits | Vacation Benefits | Retirement Savings Plan Benefits | Limited Outplacement Assistance | Continuation of Term Life Insurance Coverage | Stock Options (1) | RSUs (2) | Performance Based Awards (3) | Total | Salary | Incentive Comp. | Continuation Of Health and Welfare Benefits | Vacation Benefits | Retirement Savings Plan Benefits | Limited Outplacement Assistance | Continuation of Term Life Insurance Coverage | Stock Options (1) | RSUs (2) | Performance Based Awards (3) | Total | |||||||||||||||||||||||||||||||||
John J. Greisch | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
With termination | $2,835,000 | $945,000 | $22,020 | $36,346 | $1,191,821 | $10,000 | $7,740 | $2,427,224 | $1,908,557 | $3,826,106 | $13,209,814 | $ | 1,451,335 | $ | 482,916 | $ | 10,381 | $ | 37,115 | $ | 1,182,641 | $ | 5,013 | $ | 3,929 | $ | 2,399,339 | $ | 4,505,577 | $ | 3,129,627 | $ | 13,207,873 | ||||||||||||||||||||||
Without termination | Without termination | $2,427,224 | $1,908,557 | $0 | $4,335,780 | $ | 2,426,478 | $ | 4,577,076 | $ | 0 | $ | 7,003,554 | ||||||||||||||||||||||||||||||||||||||||||
Michael S. Macek (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
With termination | $105,062 | $0 | $2,244 | $12,123 | $0 | $0 | $252 | $33,660 | $86,920 | $102,510 | $342,771 | $ | 122,500 | $ | 0 | $ | 1,904 | $ | 14,135 | $ | 0 | $ | 0 | $ | 588 | $ | 79,732 | $ | 194,357 | $ | 228,155 | $ | 641,371 | ||||||||||||||||||||||
Without termination | Without termination | $33,660 | $86,920 | $0 | $120,580 | $ | 79,732 | $ | 194,357 | $ | 0 | $ | 274,089 | ||||||||||||||||||||||||||||||||||||||||||
Mark J. Guinan (5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
James Saccaro (5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alejandro Infante Saracho | Alejandro Infante Saracho | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
With termination | $658,673 | $230,536 | $21,531 | $23,097 | $90,110 | $8,226 | $2,273 | $325,433 | $233,671 | $578,752 | $2,172,302 | $ | 602,325 | $ | 210,814 | $ | 18,735 | $ | 23,769 | $ | 127,608 | $ | 7,310 | $ | 2,024 | $ | 423,333 | $ | 637,651 | $ | 830,527 | $ | 2,884,096 | ||||||||||||||||||||||
Without termination | Without termination | $325,433 | $233,671 | $0 | $559,104 | $ | 433,077 | $ | 662,840 | $ | 0 | $ | 1,095,917 | ||||||||||||||||||||||||||||||||||||||||||
Susan R. Lichtenstein | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
With termination | $765,275 | $229,582 | $22,520 | $25,657 | $104,709 | $8,604 | $4,444 | $398,294 | $260,279 | $716,457 | $2,535,821 | $ | 716,779 | $ | 215,033 | $ | 20,261 | $ | 26,170 | $ | 147,434 | $ | 7,901 | $ | 4,086 | $ | 515,965 | $ | 611,214 | $ | 1,056,372 | $ | 3,321,215 | ||||||||||||||||||||||
Without termination | Without termination | $398,294 | $260,279 | $0 | $658,573 | $ | 520,987 | $ | 620,696 | $ | 0 | $ | 1,141,683 | ||||||||||||||||||||||||||||||||||||||||||
Greg Pritchard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alton Shader | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
With termination | $814,116 | $244,235 | $26,140 | $23,484 | $28,882 | $10,000 | $2,760 | $230,455 | $274,995 | $0 | $1,655,068 | $ | 489,827 | $ | 171,440 | $ | 14,981 | $ | 16,163 | $ | 82,265 | $ | 5,828 | $ | 704 | $ | 339,678 | $ | 810,658 | $ | 643,539 | $ | 2,575,083 | ||||||||||||||||||||||
Without termination | Without termination | $230,455 | $274,995 | $0 | $505,451 | $ | 356,952 | $ | 892,670 | $ | 0 | $ | 1,249,622 |
1) | The amounts indicated represent the intrinsic value of all unvested non-qualified stock options that would become immediately vested and exercisable upon a change in control. The amounts were calculated based on the closing stock price of |
2) | The amounts indicated represent the intrinsic value of all unvested RSUs that would become immediately vested and exercisable upon a change in control. The amounts were calculated based on the closing stock price of |
3) | The amounts indicated represent the intrinsic value of all unvested PSUs that would become immediately vested and exercisable upon a change in control. The amounts were calculated based on the closing stock price of |
4) | Mr. Macek does not have a change in control agreement with the Company. The benefits available to Mr. Macek following a change of control are subject to terms of his employment and stock award agreements. |
5) | Mr. |
Name | Fees Earned or Paid in Cash (1) | Stock Awards (2) | Option Awards | All Other Compensation (3) | Total |
Rolf A. Classon | $100,000 | $170,421 | - | $216 | $270,637 |
James R. Giertz | $65,000 | $140,021 | - | $216 | $205,237 |
Charles E. Golden | $91,000 | $140,021 | - | $216 | $231,237 |
W August Hillenbrand (4) | $50,000 | $140,021 | - | $140 | $190,161 |
William H. Kucheman | $46,500 | $140,021 | - | $126 | $186,647 |
Ronald A. Malone | $78,000 | $140,021 | - | $216 | $218,237 |
Eduardo R. Menascé | $69,500 | $140,021 | - | $216 | $209,737 |
Joanne C. Smith, M.D. | $82,500 | $140,021 | - | $216 | $222,737 |
Name | Fees Earned or Paid in Cash (1) | Stock Awards (2) | Option Awards | All Other Compensation (3) | Total |
Rolf A. Classon | $123,250 | $190,037 | - | $216 | $313,503 |
William G. Dempsey (4) | $43,750 | $150,007 | $126 | $193,883 | |
James R. Giertz | $64,750 | $150,007 | - | $216 | $214,973 |
Charles E. Golden | $94,750 | $150,007 | - | $216 | $244,973 |
W August Hillenbrand (4) | $12,500 | - | - | $59 | $12,559 |
William H. Kucheman | $76,750 | $150,007 | $162 | $226,919 | |
Ronald A. Malone | $92,500 | $150,007 | - | $216 | $242,723 |
Eduardo R. Menascé | $64,750 | $150,007 | - | $216 | $214,973 |
Joanne C. Smith, M.D. | $79,250 | $150,007 | - | $216 | $229,473 |
1) | The amounts in this column include |
2) | The amounts indicated represent the grant date fair value of RSUs granted to our non-employee directors during fiscal year As of September 30, 42,960. |
3) | Amounts in this column represent the dollar value of the voluntary director life and accidental death and dismemberment insurance premiums paid by us during fiscal year |
4) | Mr. Hillenbrand |
Number of securities to be issued upon exercise of outstanding options, warrants and rights | Weighted-average exercise price of outstanding options, warrants and rights (1) | Number of securities remaining available for issuance under equity compensation plans (excluding securities reflected in column (a)) | Number of securities to be issued upon exercise of outstanding options, warrants and rights | Weighted-average exercise price of outstanding options, warrants and rights (1) | Number of securities remaining available for issuance under equity compensation plans (excluding securities reflected in column (a)) | |||||||
Plan Category | (a) | (b) | (c) | (a) | (b) | (c) | ||||||
Equity compensation plans approved by share holders | 3,376,987 | $29.60 | 5,342,518 | |||||||||
Equity compensation plans approved by security holders | 3,265,046 | $31.90 | 5,488,583 (4) | |||||||||
Equity compensation plans not approved by share holders(2)(3) | 13,016 | $0.00 | ||||||||||
Equity compensation plans not approved by security holders(2)(3) | 8,275 | $0.00 | - | |||||||||
Total | 3,390,003 | $29.60 | 5,342,518 (4) | 3,273,303 | $31.90 | 5,488,583 (4) |
1) | RSUs and PSUs are excluded when determining the weighted-average exercise price of outstanding stock options. |
2) | Under the Hill-Rom Holdings Stock Award Program, which has not been approved by security holders, shares of common stock have been granted to certain key employees. All shares granted under this program are contingent upon continued employment over specified terms. Dividends, payable in stock equivalents accrue on the grants and are subject to the same specified terms as the original grants. Under this program, a total of |
3) | Members of the Board of Directors may elect to defer fees earned and invest them in Hill-Rom common stock under the Hill-Rom Holdings Directors' Deferred Compensation Plan, which has not been approved by |
4) | Amount consists of |
HILL-ROM HOLDINGS, INC. 1069 STATE ROUTE 46 EAST BATESVILLE, IN 47006 | VOTE BY INTERNET - www.proxyvote.com Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 P.M. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction form. ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS If you would like to reduce the costs incurred by our company in mailing proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail or the Internet. To sign up for electronic delivery, please follow the instructions above to vote using the Internet and, when prompted, indicate that you agree to receive or access proxy materials electronically in future years. VOTE BY PHONE - 1-800-690-6903 Use any touch-tone telephone to transmit your voting instructions up until 11:59 P.M. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you call and then follow the instructions. VOTE BY MAIL Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717. |
KEEP THIS PORTION FOR YOUR RECORDS | ||
DETACH AND RETURN THIS PORTION ONLY |
For | Withhold | For All | To withhold authority to vote for any | ||||||||
All | All | Except | individual nominee(s), mark “For All | ||||||||
The Board of Directors recommends you vote FOR the following: | Except” and write the number(s) of the nominee(s) on the line below. | ||||||||||
o | o | o | |||||||||
1. Election of Directors | |||||||||||
| |||||||||||
01 Rolf A. Classon 02 William G. Dempsey 03 James R. Giertz 04 Charles E. Golden 05 John J. Greisch | ||||||||||||
06 William H. Kucheman 07 Ronald A. Malone 08 Eduardo R. Menascé 09 | ||||||||||||
The Board of Directors recommends you vote FOR proposals 2 and 3. | For | Against | Abstain | |||||||||
2 To approve, by non-binding advisory vote, executive compensation. | o | o | o | |||||||||
3 Ratify the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for fiscal | o | o | o | |||||||||
NOTE: Such other business as may properly come before the meeting or any adjournment thereof. | ||||||||||||
Please sign exactly as your name(s) appear(s) hereon. When signing as attorney, executor, administrator, or other fiduciary, please give full title as such. Joint owners should each sign personally. All holders must sign. If a corporation or partnership, please sign in full corporate or partnership name, by authorized officer. | ||||||||||||
Signature [PLEASE SIGN WITHIN BOX] | Date | Signature (Joint Owners) | Date |
Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting: The Combined Document is/are available at www.proxyvote.com . |
PROXY | ||
This proxy is solicited by the Board of Directors | ||
The undersigned hereby appoints Rolf A. Classon and | ||
THIS PROXY CARD, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED HEREIN BY THE UNDERSIGNED. IF NO SUCH DIRECTION IS MADE BUT THE CARD IS SIGNED, THIS PROXY CARD WILL BE VOTED FOR THE ELECTION OF ALL NOMINEES UNDER PROPOSAL 1, FOR PROPOSAL 2, AND FOR PROPOSAL 3, AND IN THE DISCRETION OF THE PROXIES WITH RESPECT TO SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING. | ||
Continued and to be signed on reverse side | ||