| Zoetis Inc. 10 Sylvan Way Parsippany, NJ 07054 | | | |
| | When 8:00 a.m. Eastern Daylight Time | | |
| | Where Virtual meeting webcast at: www.virtualshareholdermeeting.com/ | | |
| | Record Date Close of Business on March | | |
| | Items of Business | | |
| | 1. Election of | | |
| | 2. Advisory vote to approve our executive compensation | | |
| | 3. Ratification of the appointment of KPMG LLP as our independent registered public accounting firm for | | |
| | 4. Approval of an amendment to our Restated Certificate of Incorporation to | | |
| | 5. Shareholder proposal regarding | | |
| | 6. Such other business as may properly come before the Annual Meeting of Shareholders | | |
| | How to Vote | | |
| | Shareholders on the Record Date are entitled to vote in the following ways: | | |
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| | Call 1 (800) 690-6903 (toll free) | | |
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| | Visit www.proxyvote.com | | |
| | | | |
| | Return a properly completed, signed and dated proxy card | | |
| | | | |
| | Attend the Annual Meeting of Shareholders webcast and vote your shares | | |
| | IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE | | |
| | Zoetis Inc.’s Proxy Statement and Annual Report on Form 10-K for the year ended December 31, | | |
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| Director Nominees Skills, Experience and Demographic Information | | | | | | | |
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| | As used in this proxy statement, the terms “we”, “us”, “our”, the “Company” or “Zoetis” refer to Zoetis Inc. | | |
| | Time and Date | | | | | | |
| | Place | | | | Online virtual meeting at: www.virtualshareholdermeeting.com/ | | |
| | Record Date | | | | Close of business on March | | |
| | Voting | | | | Shareholders on the record date are entitled to one vote per share on each matter to be voted upon at the Annual Meeting. | | |
| | Admission | | | | Shareholders on the record date will be able to attend the Annual Meeting webcast, vote their shares electronically and submit questions online during the meeting by logging in to the website listed above using their 16-digit control number. Shareholders and guests who do not provide a 16-digit control number will still be able to attend the Annual Meeting in a listen-only mode, but will be unable to vote or ask questions. | | |
| | Item of Business | | | | Our Board Recommendation | | | | Reasons for Recommendation | | | | See Page | | |
| | 1. Election of | | | | ✓ FOR | | | | The Zoetis Board of Directors (the “Board”) has concluded it is in the best interests of Zoetis and its shareholders for each of Paul M. Bisaro, Vanessa Broadhurst, Frank A. D’Amelio, Sanjay Khosla, Antoinette R. Leatherberry, Michael B. McCallister, Gregory Norden, Louise M. Parent, Kristin C. Peck, Willie M. Reed and Robert W. Scully to continue serving as a Zoetis director because each nominee possesses skills, experience, and background, as reflected in their biographies set forth on pages | | | | 11 | | |
| | 2. Advisory vote to approve our executive compensation (“Say on Pay”) | | | | ✓ FOR | | | | The Board believes that our executive compensation program is designed to attract, incent and reward our leadership for increasing shareholder value and align the interests of leadership with those of our shareholders on an annual and long-term basis. | | | | 35 | | |
| | 3. Ratification of appointment of KPMG LLP as our independent registered public accounting firm for | | | | ✓ FOR | | | | The Audit Committee and Board believe that the continued retention of KPMG as the Company’s independent registered public accounting firm is in the best interests of the Company and its shareholders. | | | | 77 | | |
| | 4. Approval of an amendment to our Restated Certificate of Incorporation to | | | | ✓ FOR | | | | The Board believes that it is in the best interests of Zoetis and its shareholders to amend Zoetis’ Restated Certificate of Incorporation to | | | | 81 | | |
| | 5. Shareholder proposal regarding | | | | X AGAINST | | | | The Board does not believe it is in the best interests of Zoetis or its shareholders to | | | | 83 | | |
| Our purpose — to nurture the world and humankind by advancing care for animals — inspires At Zoetis, our colleagues Our Core Beliefs have helped us | | | |
| | Skill / Experience | | | | Definition | | | |||
| | Academia | | | | | | Experience working in a university or other community concerned with the pursuit of research, education and scholarship | | | |
| | Animal Health | | | | | | Experience working at an organization (including for profit, non-profit, academic, or otherwise) engaged in the production, care and/or maintenance of animals | | | |
| | Consumer Products | | | | | | Experience working at an organization (including for profit, non-profit, academic, or otherwise) engaged in the development, manufacture or commercialization of products which are sold directly to individuals and households | | | |
| | Digital & Technology | | | | | | A significant background working in technology, resulting in knowledge of how to anticipate technological trends, generate disruptive innovation, and extend or create new business models | | | |
| | Global Businesses | | | | | | Experience driving business success in markets around the world, with an understanding of diverse business environments, economic conditions, cultures, and regulatory frameworks, and a broad perspective on global market opportunities | | | |
| | Human Capital Management | | | | | | Experience working for a significant enterprise in talent development and succession planning, along with a practical understanding of organizations, processes, workforce planning, and talent risk management | | | |
| | Life Sciences | | | | | | Experience working at an organization (including for profit, non-profit, academic, or otherwise) engaged in the discovery, development, manufacture or commercialization of products or services focused on improving organism life | | | |
| | Manufacturing & Supply | | | | | | Experience directly managing an organization or business function responsible for the manufacturing and/or supply of physical goods | | | |
| | Marketing & Sales | | | | | | Experience developing strategies to grow sales and market share, build brand awareness and equity, and enhance enterprise reputation | | | |
| | Mergers & Acquisitions | | | | | | A history of leading growth through acquisitions and other business combinations, with the ability to assess “build or buy” decisions, analyze the fit of a target with a company’s strategy and culture, accurately value transactions, and evaluate operational integration plans | | | |
| | Research & Development | | | | | | Experience directly managing an organization or business function responsible for the discovery and/or development of products or services | | | |
| | Public Company Skill / Experience | | | | Definition | | | |||
| | Other Public Company Board Member | | | | | | Experience serving on the board of directors of a public company | | | |
| | Public Company CEO | | | | | | Experience as a chief executive officer of a public company | | | |
| | Public Company CFO; or Finance and Accounting | | | | | | Experience as a chief financial officer or principal accounting officer of a public company, or a member of the internal function(s) responsible for managing a public company’s finance or accounting operations | | | |
| | Public Company GC; Compliance; or Corporate Governance | | | | | | Experience as a general counsel of a public company, or a member of the internal function(s) responsible for managing a public company’s corporate compliance and/or corporate governance | | |
| | | | Paul M. Bisaro | | | | Vanessa Broadhurst | | | | Frank A. D’Amelio | | | | Sanjay Khosla | | | | Antoinette R. Leatherberry | | | | Michael B. McCallister | | | | Gregory Norden | | | | Louise M. Parent | | | | Kristin C. Peck | | | | Willie M. Reed | | | | Rhodes | Robert W. Scully | | | |||||||||||||||
| Skill / Experience | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||
| Academia | | | | | | | | | | | | | | | | | | ✓ | | | | ✓ | | | | | | | | | | | | | | | | | | | | ✓ | | | | | | | |||||||||||||
| Animal Health | | | | | | | | | | | | | | ✓ | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | | ✓ | | | | ✓ | | | | | | | |||||||||||||
| Consumer Products | | | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | | | | | ✓ | | | | ✓ | | | | ✓ | | | | | | | | | | | | | | | |||||||||||||
| Digital & Technology | | | | | | | | | | | | | ✓ | | | | | | | | ✓ | | | | ✓ | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||
| Global Businesses | | | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | | | | | | | | | ✓ | | | | ✓ | | | | ✓ | | | | | | | | ✓ | | | |||||||||||||
| Human Capital Management | | | | | | | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | |||||||||||||
| Life Sciences | | | | | | ✓ | | | | ✓ | | | | ✓ | | | | | | | | | | | | ✓ | | | | ✓ | | | | | | | | ✓ | | | | ✓ | | | | | | | |||||||||||||
| Manufacturing & Supply | | | | | | ✓ | | | | | | | | ✓ | | | | ✓ | | | | | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | |||||||||||||
| Marketing & Sales | | | | | | ✓ | | | | ✓ | | | | | | | | ✓ | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | ✓ | | | | ✓ | | | |||||||||||||
| Mergers & Acquisitions | | | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | | | | | ✓ | | | |||||||||||||
| Research & Development | | | | | | | | | | | | | | | | | ✓ | | | | | | | | ✓ | | | | | | | | | | | | | | | | ✓ | | | | | ||||||||||||||||
| | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Public Company Board Member | | | | | | ✓ | | | | | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | | | | ✓ | | | | ✓ | | | | | | | | ✓ | | | ||||||||||||||
| Public Company CEO | | | | | | ✓ | | | | | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | | | | | |||||||||||||
| Public Company CFO; or Finance and Accounting | | | | | | | | | | | | | | ✓ | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | | | | | | | | | |||||||||||||
| Public Company GC; Compliance; or Corporate Governance | | | | | | ✓ | | | | | | | | | | | | | | | | | | | | ✓ | | | | | | | | ✓ | | | | | | | | | | | | | | | |||||||||||||
|
| | | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | | | | | ✓ | | | | ✓ | | |
| | | | Paul M. Bisaro | | | | Vanessa Broadhurst | | | | Frank A. D’Amelio | | | | Sanjay Khosla | | | | Antoinette R. Leatherberry | | | | Michael B. McCallister | | | | Gregory Norden | | | | Louise M. Parent | | | | Kristin C. Peck | | | | Willie M. Reed | | | | Linda Rhodes | | | | Robert W. Scully | | | | | | Paul M. Bisaro | | | | Vanessa Broadhurst | | | | Frank A. D’Amelio | | | | Sanjay Khosla | | | | Antoinette R. Leatherberry | | | | Michael B. McCallister | | | | Gregory Norden | | | | Louise M. Parent | | | | Kristin C. Peck | | | | Willie M. Reed | | | | Robert W. Scully | | | ||
| Demographic Background | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Demographic Background | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| Age and Tenure | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Age and Tenure | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Age (as of March 15, 2023) | | | | 62 | | | | 54 | | | | 65 | | | | 71 | | | | 61 | | | | 70 | | | | 65 | | | | 72 | | | | 51 | | | | 68 | | | | 73 | | | | 73 | | | Age (as of March 15, 2024) | | | | 63 | | | | 55 | | | | 66 | | | | 72 | | | | 62 | | | | 71 | | | | 66 | | | | 73 | | | | 52 | | | | 69 | | | | 74 | | |
| Board Tenure (full years) | | | | 7 | | | | 0 | | | | 10 | | | | 9 | | | | 2 | | | | 10 | | | | 10 | | | | 9 | | | | 3 | | | | 9 | | | | 5 | | | | 9 | | | Board Tenure (full years) | | | | 8 | | | | 1 | | | | 11 | | | | 10 | | | | 3 | | | | 11 | | | | 11 | | | | 10 | | | | 4 | | | | 10 | | | | 10 | | |
| Other Public Boards | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other Public Boards | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Number | | | | 2 | | | | 0 | | | | 2 | | | | 1 | | | | 1 | | | | 2 | | | | 3 | | | | 1 | | | | 1 | | | | 0 | | | | 0 | | | | 2 | | | Number | | | | 2 | | | | 0 | | | | 3 | | | | 1 | | | | 1 | | | | 2 | | | | 3 | | | | 1 | | | | 1 | | | | 0 | | | | 2 | | |
| LGBTQIA+ (optional reporting) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | LGBTQIA+ (optional reporting) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Identify as LGBTQIA+ | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Identify as LGBTQIA+ | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Race / Ethnicity* (optional reporting) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Race / Ethnicity* (optional reporting) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Black or African American | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | Black or African American | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | | | | | | | | | | | | | | | | | ✓ | | | | | | |
| American Indian or Alaska Native | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | American Indian or Alaska Native | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Asian | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Asian | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Hispanic or Latino | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Hispanic or Latino | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Native Hawaiian or Other Pacific Islander | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Native Hawaiian or Other Pacific Islander | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| White | | | | ✓ | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | | | | | ✓ | | | | ✓ | | | White | | | | ✓ | | | | | | | | ✓ | | | | | | | | | | | | ✓ | | | | ✓ | | | | ✓ | | | | ✓ | | | | | | | | ✓ | | |
| Other | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Other | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Born or Raised Outside the US (optional reporting) | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Born or Raised Outside the US (optional reporting) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Gender | | | | Male | | | | Female | | | | Male | | | | Male | | | | Female | | | | Male | | | | Male | | | | Female | | | | Female | | | | Male | | | | Female | | | | Male | | | Born or Raised Outside the US | | | | | | | | | | | | | | | | ✓ | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Gender | | | | Male | | | | Female | | | | Male | | | | Male | | | | Female | | | | Male | | | | Male | | | | Female | | | | Female | | | | Male | | | | Male | | |
| | | | | | | | | | * | | | Based on U.S. Census Bureau designations | |
| Item 1 | | | Election of Directors | |
| • Paul M. Bisaro | | | • Gregory Norden | |
| • Vanessa Broadhurst | | | • Louise M. Parent | |
| • Frank A. D’Amelio | | | • Kristin C. Peck | |
| • | | | • Willie M. Reed | |
| • Antoinette R. Leatherberry | | | • Robert W. Scully | |
| • Michael B. McCallister | | |
| Item 1 Recommendation: Our Board unanimously recommends that you vote FOR the election of Mr. Bisaro, Ms. Broadhurst, Mr. D’Amelio, Mr. Khosla, Dr. Leatherberry, Mr. McCallister, Mr. Norden, Ms. Parent, Ms. Peck, Dr. Reed and Mr. Scully as directors. | |
Expires | ||||||||||||
| | | Paul M. Bisaro Age Director since May 2015 | | | Specific qualifications: • Senior management experience, including as former CEO of Actavis plc (formerly Watson Pharmaceuticals) and Impax Laboratories, Inc. • Experience in global healthcare and pharmaceutical industries • Expertise in mergers and acquisitions • Public company director experience | |
| | | Vanessa Broadhurst Age Director since July 2022 | | | Specific qualifications: • Experience in business leadership and senior management, including as Executive Vice President, Global Corporate Affairs at Johnson & Johnson • Expertise in consumer healthcare marketing and digital communications • Global pharmaceutical business experience • Direct-to-consumer advertising experience | |
| | | Frank A. D’Amelio Age Director since July 2012 | | | Specific qualifications: • Experience in finance and accounting and senior management, including as former CFO of Pfizer • Expertise in mergers and acquisitions • Global business experience • Public company director experience | |
| | | Sanjay Khosla Age 72 Director since June 2013 | | | Specific qualifications: • International business and management experience, including as EVP and President, Developing Markets of Kraft Foods (now Mondelēz International) • Global operational experience, including in developing markets • Experience in animal health industry • Academic experience • Public company director experience | |
| | | Antoinette R. Leatherberry Age 62 Director since December 2020 | | | Specific qualifications: • Extensive experience with complex technology transformations during her Deloitte career advising Fortune 500 companies • Strategic digital technology experience • Diversity and inclusion leadership | |
| | | Michael B. McCallister Age Director since January 2013 Board Chair since June 2013 | | | Specific qualifications: • Senior management experience, including as former CEO of Humana • Accounting background • Board chair experience • Public company director experience | |
| | | Gregory Norden Age Director since January 2013 | | | Specific qualifications: • Corporate finance experience, including as former CFO of Wyeth • Experience in global healthcare and pharmaceutical industries • Accounting background, including as an audit manager at a major accounting firm • Public company director experience | |
| | | Louise M. Parent Age Director since August 2013 | | | Specific qualifications: • Legal, operations, senior management and global business experience as former General Counsel and executive of American Express • Experience in corporate governance, board matters, compliance and risk management • Global business and regulatory relations experience • Public company director experience | |
| | | Kristin C. Peck Age Director since October 2019 | | | Specific qualifications: • Knowledge and leadership of Zoetis as our current CEO • Experience in animal health and pharmaceutical industries • Senior management and global business experience • Public company director experience | |
| | | Willie M. Reed Age 69 Director since March 2014 | | | Specific qualifications: • Thought leadership in the animal health community, including as Dean of the College of Veterinary Medicine at Purdue University • Experience in developing programs for increasing diversity in the veterinary profession • Expertise in infectious diseases, avian pathology, poultry veterinary medicines, diagnostics and vaccines, animal care and welfare • Senior management experience • Experience working with various government agencies | |
| | | Robert W. Scully Age Director since June 2013 | | | Specific qualifications: • Experience in financial services and global management, including as a member of the Office of the Chairman of Morgan Stanley • Public company experience in risk management, audit and financial reporting • Mergers and acquisitions expertise • Public company director experience | |
| Topic | | | | Zoetis Key Corporate Governance Feature | |
| Board Quality and Independence | | | | • Board consists of highly-qualified, experienced and diverse directors with relevant expertise for overseeing our strategy, capital allocation, performance, succession planning and risk • All directors are independent other than our current CEO | |
| Independent Board Chair | | | | • Current Board Chair is an independent director and is elected by the Board annually • If the roles of CEO and Board Chair are combined, independent directors will annually elect a lead independent director | |
| Board Committees | | | | • All four Board Committees — Audit, Human Resources, Corporate Governance and Sustainability, and Quality and Innovation — are composed entirely of independent directors | |
| Executive Sessions | | | | • Directors hold regularly scheduled executive sessions where directors can discuss matters without management presence • Independent Board Chair, or, if applicable, the lead independent director, presides over all executive sessions of the Board | |
| Board Oversight of Risk | | | | • Risk oversight by full Board and Committees, including oversight of the Enterprise Risk Management program, financial reporting, information security and audit risk assessments | |
| Proxy Access | | | | • Our shareholders may nominate directors through proxy access | |
| Board Oversight of Management Succession | | | | • Board regularly reviews and discusses succession plans for CEO and other key executives | |
| Board Self-Evaluation | | | | • Board conducts an annual evaluation of itself and each of its Committees • | |
| Accountability | | | | • In uncontested director elections, our directors are elected by a majority of votes cast • • Each share of common stock is entitled to one vote • Our Code of Conduct fosters a culture of honesty and accountability • Anti-hedging and anti-pledging policies covering directors and • Claw-back policy covering incentive compensation paid to executives • Shareholders owning a combined 25% of Zoetis’ outstanding shares have the right to call a special meeting | |
| Director Stock Ownership | | | | • Each non-employee director is required to hold Zoetis stock worth at least $500,000 (including share equivalent units), to be acquired within five years of joining our Board | |
| Open Lines of Communication | | | | • Processes in place to facilitate communication with shareholders and other stakeholders • Board promotes open and frank discussions with management and there is ongoing communication between our Board (including the Board and Committee Chairs) and management • Our directors have access to all members of management and other | |
| Board Refreshment | | | | • Led by the Corporate Governance and Sustainability Committee, the Board regularly reviews the Board’s composition with a focus on identifying and evaluating potential board candidates • Mandatory Retirement Policy at age 75, absent special circumstances | |
| Director Orientation and Continuing Education | | | | • Comprehensive orientation for new directors • Continuing education consisting of in-house presentations, presentations by industry and subject matter experts, third-party director courses and site and customer visits | |
| Board Diversity | | | | • Diverse board with female and racial/ethnic representation • Board considers diversity of skills, experience, race, ethnicity, gender, cultural background and thought among directors when evaluating director nominees • The Corporate Governance and Sustainability Committee considers, and asks search firms to include in candidate lists, diverse director candidates who meet applicable search criteria | |
| Corporate Responsibility & ESG/ | | | | • The Board exercises ultimate oversight over the Company’s sustainability strategy and program, and monitors the Company’s overall sustainability progress • The Board’s Committees oversee the Company’s sustainability practices, including animal welfare, human capital management, DE&I, pay equity, compliance, environmental, health and safety and manufacturing quality matters, public policy issues and corporate governance • In June • and 2023. In | |
| | | | | | | Committee | | | | | | | | Committee | | ||||||||||||||||||||||||||||
| Name | | | | Independent | | | | Audit | | | | Human Resources | | | | Corporate Governance and Sustainability | | | | Quality and Innovation | | Name | | | | Independent | | | | Audit | | | | Human Resources | | | | Corporate Governance and Sustainability | | | | Quality and Innovation | |
| Paul M. Bisaro | | | | yes | | | | | | | | | | | | | | Paul M. Bisaro | | | | yes | | | | | | | | | | | | | | ||||||||
| Vanessa Broadhurst | | | | yes | | | | | | | | | | | | | | | | | Vanessa Broadhurst | | | | yes | | | | | | | | | | | | | | | | |||
| Frank A. D’Amelio | | | | yes | | | | | | | | | | | | | | | | Frank A. D’Amelio | | | | yes | | | | | | | | | | | | | | | | ||||
| Sanjay Khosla | | | | yes | | | | | | | | | | | | | | | | Sanjay Khosla | | | | yes | | | | | | | | | | | | | | | | ||||
| Antoinette R. Leatherberry | | | | yes | | | | | | | | | | | | | | | | Antoinette R. Leatherberry | | | | yes | | | | | | | | | | | | | | | | ||||
| Michael B. McCallister | | | | yes | | | | | | | | | | | | | | | | | | Michael B. McCallister | | | | yes | | | | | | | | | | | | | | | | | |
| Gregory Norden | | | | yes | | | | | | | | | | | | | | | | Gregory Norden | | | | yes | | | | | | | | | | | | | | | | ||||
| Louise M. Parent | | | | yes | | | | | | | | | | | | | | | | Louise M. Parent | | | | yes | | | | | | | | | | | | | | | | ||||
| Kristin C. Peck | | | | no | | | | | | | | | | | | | | | | | | Kristin C. Peck | | | | no | | | | | | | | | | | | | | | | | |
| Willie M. Reed | | | | yes | | | | | | | | | | | | | | | | Willie M. Reed | | | | yes | | | | | | | | | | | | | | | | ||||
| Linda Rhodes | | | | yes | | | | | | | | | | | | | | | | Linda Rhodes | | | | yes | | | | | | | | | | | | | | | | ||||
| Robert W. Scully | | | | yes | | | | | | | | | | | | | | | | Robert W. Scully | | | | yes | | | | | | | | | | | | | | | | ||||
| Number of Meetings in 2022 | | | | | | | | 8 | | | | 6 | | | | 6 | | | | 4 | | Number of Meetings in 2023 | | | | | | | | 8 | | | | 6 | | | | 6 | | | | 5 | |
| Board | | | | Responsibilities | |
| Audit Committee All Members Independent All Members Financially Literate Each of Mr. D’Amelio, Mr. Norden and Mr. Scully qualifies as an “audit committee financial expert” | | | | • Oversees the integrity of our financial statements and system of internal controls • Sole authority and responsibility to select, determine the compensation of, evaluate and, when appropriate, replace our independent public accounting firm • Oversees the performance of our internal audit function • Oversees our risk management programs, including information security (which includes cybersecurity) and data privacy • Reviews reports from management, legal counsel and third parties (including our independent public accounting firm) relating to the status of our compliance with laws, regulations and internal procedures | |
| Corporate Governance and Sustainability Committee All Members Independent | | | | • Responsible for the Company’s corporate governance practices, policies and procedures • Identifies and recommends candidates for election to our Board; recommends members and chairs of Board Committees • Advises on and recommends director compensation for approval by the Board • Administers our policies and procedures regarding related person transactions • Oversees our strategies, initiatives, activities and disclosures regarding | |
| Human Resources Committee All Members Independent | | | | • Approves our overall compensation philosophy • Oversees our compensation and benefit programs, policies and practices and manages the related risks • Annually establishes the corporate goals and objectives relevant to the compensation of our CEO, reviews the goals established by our CEO for our other executive officers, and evaluates their performance in light of these goals • Recommends CEO compensation to the Board and approves the compensation of our other executive officers • Oversees our programs and policies regarding talent development, colleague engagement and DE&I • Administers our incentive and equity-based compensation plans | |
| Quality and Innovation Committee All Members Independent | | | | • Evaluates our strategy, activities, results and investment in research and development and innovation • Oversees compliance with processes and internal controls relating to our manufacturing quality and environmental, health and safety (“EHS”) • Reviews organizational structures and qualifications of key personnel in our supply chain, manufacturing quality and EHS functions • Oversees our programs with respect to animal welfare, adverse event reporting and product safety matters | |
| Audit Committee | | | | Human Resources Committee | | | | Corporate Governance and Sustainability Committee | | | | Quality and Innovation Committee | |
| • Oversees the management of risks related to financial reporting, information security risks • Oversees the annual internal audit risk assessment, which identifies and prioritizes risks related to the Company’s internal controls in order to develop internal audit plans for future fiscal years | | | | • Oversees the management of risks relating to our compensation plans and arrangements • Oversees the management of risks relating to our talent, human capital management and succession planning | | | | • Oversees risks associated with our • Oversees the effectiveness of the Principles and the Board’s compliance with our Code of Conduct | | | | • Oversees risks related to natural resources and climate, manufacturing quality and environmental, health and safety matters • Oversees risks associated with our strategy and investments in research and development and external innovation | |
| Name | | | | Fees Earned or Paid in Cash($) | | | | Stock Awards ($)(1)(2) | | | | All Other Compensation ($)(3) | | | | Total ($) | | Name | | | | Fees Earned or Paid in Cash($) | | | | Stock Awards ($)(1)(2) | | | | All Other Compensation ($)(3) | | | | Total ($) | | ||||||||||||||||||||||||
| Paul M. Bisaro(4) | | | | | $ | 100,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 340,000 | | | Paul M. Bisaro(4) | | | | | $ | 100,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 340,000 | | |
| Vanessa Broadhurst(5) | | | | | $ | 50,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 290,000 | | | Vanessa Broadhurst(5) | | | | | $ | 100,000 | | | | | | $ | 240,000 | | | | | | $ | 1,000 | | | | | | $ | 341,000 | | |
| Frank A. D’Amelio(6) | | | | | $ | 100,000 | | | | | | $ | 240,000 | | | | | | $ | 5,000 | | | | | | $ | 345,000 | | | Frank A. D’Amelio(6) | | | | | $ | 100,000 | | | | | | $ | 240,000 | | | | | | $ | 500 | | | | | | $ | 340,500 | | |
| Sanjay Khosla(4) | | | | | $ | 100,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 340,000 | | | Sanjay Khosla(4) | | | | | $ | 100,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 340,000 | | |
| Antoinette R. Leatherberry(4) | | | | | $ | 100,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 340,000 | | | Antoinette R. Leatherberry(4) | | | | | $ | 100,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 340,000 | | |
| Michael B. McCallister(7) | | | | | $ | 250,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 490,000 | | | Michael B. McCallister(7) | | | | | $ | 250,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 490,000 | | |
| Gregory Norden(8) | | | | | $ | 125,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 365,000 | | | Gregory Norden(8) | | | | | $ | 125,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 365,000 | | |
| Louise M. Parent(9) | | | | | $ | 125,000 | | | | | | $ | 240,000 | | | | | | $ | 5,000 | | | | | | $ | 370,000 | | | Louise M. Parent(9) | | | | | $ | 125,000 | | | | | | $ | 240,000 | | | | | | $ | 5,000 | | | | | | $ | 370,000 | | |
| Willie M. Reed(10) | | | | | $ | 125,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 365,000 | | | Willie M. Reed(10) | | | | | $ | 125,000 | | | | | | $ | 240,000 | | | | | | $ | 5,000 | | | | | | $ | 370,000 | | |
| Linda Rhodes(6) | | | | | $ | 100,000 | | | | | | $ | 240,000 | | | | | | $ | 5,000 | | | | | | $ | 345,000 | | | Linda Rhodes(11) | | | | | $ | 100,000 | | | | | | $ | 240,000 | | | | | | $ | 5,000 | | | | | | $ | 345,000 | | |
| Robert W. Scully(11) | | | | | $ | 125,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 365,000 | | | Robert W. Scully(12) | | | | | $ | 125,000 | | | | | | $ | 240,000 | | | | | | | — | | | | | | $ | 365,000 | | |
| Item 2 | | | Advisory Vote to Approve our Executive Compensation (“Say on Pay”) | |
| Item 2 Recommendation: Our Board unanimously recommends that you vote FOR the approval of our executive compensation. | |
| NEO | | | | Title | |
| Kristin C. Peck | | | | Chief Executive Officer (“CEO”) | |
| Wetteny Joseph | | | | Executive Vice President (“EVP”) and Chief Financial Officer (“CFO”) | |
| | | | EVP, Chief Digital &Technology Officer and Group President | | |
| Heidi C. Chen | | | | EVP, General Counsel and Corporate Secretary; Business Lead of Human Health Diagnostics | |
| | | | EVP | |
| Compensation Philosophy | | | | Objectives | |
| Pay for Performance | | | | Foster a pay-for-performance culture by tying a large portion of our executives’ pay to performance against pre-established annual Company financial and operational metrics, as well as pre-established annual individual goals for each executive. | |
| Align Management Interests with Shareholders | | | | Align the interests of management with results delivered to our shareholders through the use of long-term incentive programs that are designed to reward executives for increasing the value of our shareholders’ investment. | |
| Pay Mix | | | | Provide competitive compensation opportunities over the short term (base salary and annual incentives) and long term (equity-based long-term incentive awards) which are intended to retain our experienced management team, enable us to attract new qualified executives when needed and remain externally aligned with the compensation practices of our peer group, with the majority of pay at-risk and tied to long-term performance. | |
| | WHAT WE DO: | | | |||
| | ✓ | | | Emphasize pay for performance — our executive compensation program emphasizes variable pay over fixed pay, with more than three-quarters of our executives’ target compensation tied to our financial results and stock performance. | | |
| | ✓ | | | Require executives to comply with market-competitive stock ownership guidelines. | | |
| | ✓ | | | Require executives to hold net shares upon the exercise of stock options or vesting of stock until they achieve the relevant stock ownership guideline. | | |
| | ✓ | | | Maintain a policy prohibiting traditional perquisites of employment (as determined by our Board) for our | | |
| | ✓ | | | Maintain anti-hedging and anti-pledging policies applicable to our directors and | | |
| | ✓ | | | Maintain a clawback policy that allows us to recover incentive payments based on financial results that are subsequently restated or in response to certain inappropriate actions on the part of our executives. Additionally, for our senior leaders, a non-competition provision is included for equity-based incentive awards. | | |
| | ✓ | | | Maintain a compensation recovery policy in compliance with SEC rules and NYSE requirements. | | |
| | ✓ | | | Provide for “double-trigger” equity award vesting and severance benefits following a change in control. | | |
| | ✓ | | | Provide severance benefits through an Executive Severance Plan, consisting of cash equal to a multiple of base salary and target annual incentive, as well as continued health and welfare benefits, as described in the Executive Severance Plan. | | |
| | ✓ | | | Use an independent compensation consultant when designing and evaluating our executive compensation policies and programs. | | |
| | ✓ | | | Conduct an annual risk assessment to ensure that the Company’s pay programs, and practices do not create risks that are likely to have a material adverse impact on the Company. | | |
| | WHAT WE DON’T DO: | | | |||
| | ✘ | | | Maintain employment agreements with our executives, including our NEOs (other than agreements that are required or customary for executives outside of the U.S., and short-term agreements for specific purposes). | | |
| | ✘ | | | Allow repricing of stock options without shareholder approval. | | |
| | ✘ | | | Provide tax “gross ups” to any of our executives, including our NEOs (except with respect to certain international assignment or relocation expenses, consistent with our policies and available to all eligible | | |
| | ✘ | | | Provide for “single-trigger” equity award vesting or other “single-trigger” payments or benefits upon a change in control. | | |
| Element | | | | Description and Purpose | | | | Comments | |
| Cash | | | | | | | | | |
| Base Salary | | | | • Fixed cash compensation that reflects fulfillment of day-to-day responsibilities, skills and experience. • Addresses | | | | • Reviewed annually considering changes in market practice, performance and individual responsibility. | |
| Annual Incentive Plan | | | | • Annual cash incentive that rewards achievement of our financial and strategic/operational goals, as well as the individual performance of the NEO and, along with base salary, provides a market-competitive annual cash compensation opportunity. • For | | | | • Amount of payout is based on the extent of achievement of the Company and individual goals set and approved by the Human Resources Committee in the first quarter of each year. • The Human Resources Committee may exercise discretion in considering performance results in the context of other strategic and operational objectives. | |
| Long-Term | | | | | | | | ||
| Performance Award Units | | | | • Equity awards that give the recipient the right to receive shares of Zoetis stock on a specified future date, subject to vesting and the Company’s performance against its three-year Relative TSR goals and generally subject to continued employment through the vesting date. • Align NEO and shareholder interests, as the value NEOs realize from their performance award units depends on the value of the shareholders’ investment relative to other similar investment opportunities over the same time period. | | | | • In • Three-year cliff vesting: units earned based on Relative TSR, the Company’s TSR results over the three-year performance period relative to the TSR results of the S&P 500 Group (as described below under “Long-Term Incentives”), vest 100% on the third anniversary of the date of grant, subject to the NEO’s continued employment through such date (with vesting on certain earlier terminations, such as retirement, death, restructuring, change in control, etc., that are generally aligned with market practice). • Paid out in shares of Company common stock upon vesting, with the payout ranging from 0% to 200% of target (including dividend equivalents), depending on the extent to which the pre-determined performance goals have been achieved. • Dividend equivalents are accrued over the vesting period and paid when and if the performance award units vest (subject to the same vesting conditions as the underlying performance award units). | |
| Element | | | | Description and Purpose | | | | Comments | |
| Long-Term | | | | | |||||
| Stock Options | | | | • Equity awards that provide value based on growth in our stock price, subject to vesting generally upon recipient’s continued employment through the vesting date. • Intended to focus NEOs on increasing the Company’s stock price. • Reward NEOs for increases in the stock price over a period of up to ten years. | | | | • In • Exercise price equals 100% of the stock price on the date of grant. • Ten-year term. • Three-year | |
| Restricted Stock Units | | | | • Equity awards that give the recipient the right to receive shares of Zoetis stock on a specified future date, subject to vesting generally based upon recipient’s continued employment through the vesting date. • Align NEO and shareholder interests, as | | | | • In • Three-year • Paid out in shares of Company common stock upon vesting. • Dividend equivalents are accrued over the vesting period and paid when and if the RSUs vest (subject to the same vesting conditions as the underlying RSUs). | |
| | | | | | | | |||
| U.S. Savings Plan (“Savings Plan”) | | | | • A tax-qualified 401(k)/profit sharing plan that allows U.S. participants to defer a portion of their compensation, up to U.S. Internal Revenue Code (“IRC”) and other limitations, and receive a Company matching contribution. • A discretionary profit sharing contribution of up to 8% of an eligible | | | | • We provide a matching contribution of 100% on the first 5% of • For | |
| Supplemental Savings Plan | | | | • A non-qualified deferred compensation plan that allows eligible • Also allows NEOs and certain other executives to defer up to an additional 60% of the amount of their AIP payment that is over the IRC 401(a)(17) limit and that is not matched by the Company. | | | | • Matching and profit sharing contributions are notionally credited as Company stock and settled in cash after the | |
| Element | | | | Description and Purpose | | | | Comments | |
| | | | | | | | |||
| Executive Severance Plan | | | | • Severance benefits provided to NEOs and certain other executives (currently • Facilitates recruitment and retention of NEOs and certain other executives by providing income security in the event of involuntary job loss. | | | | • Provides the CEO with: o 1.5 times base salary and target annual incentive upon an involuntary termination of employment without cause (unrelated to a change in control); and o 2.5 times base salary and target annual incentive upon an involuntary termination of employment without cause or a “good reason” termination following a change in control. • Provides other executives, including the NEOs, other than the CEO with: o 1 times base salary and target annual incentive upon an involuntary termination of employment without cause (unrelated to a change in control); and o 2 times base salary and target annual incentive upon an involuntary termination of employment without cause or a “good reason” termination following a change in control. | |
| Agilent Technologies, Inc. | | | | Illumina, Inc. | |
| Baxter International Inc. | | | | Intuitive Surgical, Inc. | |
| Becton, Dickinson and Company | | | | IQVIA Holdings Inc. | |
| Biogen Inc. | | | | Mettler-Toledo International Inc. | |
| Boston Scientific Corporation | | | | Stryker Corporation | |
| Elanco Animal Health Incorporated | | | | Thermo Fisher Scientific Inc. | |
| Gilead Sciences, Inc. | | | | Zimmer Biomet Holdings, Inc. | |
| IDEXX Laboratories, Inc. | | | | | |
| | | | | | | | | | | | | | | | Pay Mix | | | | | | | | | | | | | | | | | Pay Mix | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NEO | | | | Base Salary | | | | Target Annual Cash Incentive | | | | Long-Term Equity Incentive | | | | Target Total Direct Compensation | | | | Base Salary | | | | Target Annual Incentive | | | | Long- Term Incentive | | NEO | | | | Base Salary | | | | Target Annual Cash Incentive | | | | Long-Term Equity Incentive | | | | Target Total Direct Compensation | | | | Base Salary | | | | Target Annual Incentive | | | | Long- Term Incentive | | ||||||||||||||||||||||||||||||||||||||||||
| Kristin C. Peck | | | | | $ | 1,200,000 | | | | | | $ | 1,800,000 | | | | | | $ | 11,200,000 | | | | | | $ | 14,200,000 | | | | | | | 8% | | | | | | | 13% | | | | | | | 79% | | | Kristin C. Peck | | | | | $ | 1,200,000 | | | | | | $ | 1,800,000 | | | | | | $ | 11,700,000 | | | | | | $ | 14,700,000 | | | | | | | 8% | | | | | | | 12% | | | | | | | 80% | | |
| Wetteny Joseph | | | | | $ | 700,000 | | | | | | $ | 630,000 | | | | | | $ | 2,300,000 | | | | | | $ | 3,630,000 | | | | | | | 19% | | | | | | | 17% | | | | | | | 64% | | | Wetteny Joseph | | | | | $ | 725,000 | | | | | | $ | 652,500 | | | | | | $ | 2,650,000 | | | | | | $ | 4,027,500 | | | | | | | 18% | | | | | | | 16% | | | | | | | 66% | | |
| Glenn C. David | | | | | $ | 725,000 | | | | | | $ | 652,500 | | | | | | $ | 2,772,500 | | | | | | $ | 4,150,000 | | | | | | | 17% | | | | | | | 16% | | | | | | | 67% | | | Wafaa Mamilli | | | | | $ | 650,000 | | | | | | $ | 520,000 | | | | | | $ | 1,330,000 | | | | | | $ | 2,500,000 | | | | | | | 26% | | | | | | | 21% | | | | | | | 53% | | |
| Heidi C. Chen | | | | | $ | 615,000 | | | | | | $ | 430,500 | | | | | | $ | 1,325,000 | | | | | | $ | 2,370,500 | | | | | | | 26% | | | | | | | 18% | | | | | | | 56% | | | Heidi C. Chen | | | | | $ | 635,000 | | | | | | $ | 444,500 | | | | | | $ | 1,365,000 | | | | | | $ | 2,444,500 | | | | | | | 26% | | | | | | | 18% | | | | | | | 56% | | |
| Wafaa Mamilli | | | | | $ | 650,000 | | | | | | $ | 520,000 | | | | | | $ | 1,100,000 | | | | | | $ | 2,270,000 | | | | | | | 29% | | | | | | | 23% | | | | | | | 48% | | | Robert J. Polzer | | | | | $ | 575,000 | | | | | | $ | 460,000 | | | | | | $ | 1,265,000 | | | | | | $ | 2,300,000 | | | | | | | 25% | | | | | | | 20% | | | | | | | 55% | | |
| | Our AIP utilizes a funded pool approach. An overall target AIP pool for the year is determined by adding together the target AIP payouts for each eligible | | | | | |
| | | | 2022 Results | | | | Foreign Exchange Adjustments | | | | 2022 AIP Results | | | | 2022 AIP Target | | | | AIP Results as a Percent of Target | | | | | 2023 Reported Results | | | | Adjustments** | | | | 2023 AIP Results | | | | 2023 AIP Target | | | | AIP Results as a Percent of Target | | ||||||||||||||||||||||||||||||||
| Revenue* | | | | | | $8,080 | | | | | | | $141 | | | | | | | $8,221 | | | | | | | $8,449 | | | | | | | 97% | | | Revenue* | | | | | | $8,544 | | | | | | | $84 | | | | | | | $8,628 | | | | | | | $8,551 | | | | | | | 101% | | |
| Adjusted Diluted EPS | | | | | $ | 4.88 | | | | | | $ | 0.27 | | | | | | $ | 5.15 | | | | | | $ | 5.23 | | | | | | | 98% | | | Adjusted Diluted EPS | | | | | $ | 5.32 | | | | | | $ | 0.04 | | | | | | $ | 5.36 | | | | | | $ | 5.29 | | | | | | | 101% | | |
| Free Cash Flow* | | | | | $ | 1,326 | | | | | | $ | 125 | | | | | | $ | 1,451 | | | | | | $ | 1,844 | | | | | | | 79% | | | Free Cash Flow* | | | | | $ | 1,621 | | | | | | $ | (24) | | | | | | $ | 1,597 | | | | | | $ | 1,379 | | | | | | | 116% | | |
| CEO 2023 Achievements | | |||
| Financial Achievements | | | We continued to create shareholder value through our consistently strong financial performance. We continued to deliver operational revenue growth and increased profitability. | |
| Lead through Innovation | | | New product approvals as well as product and market expansions in 2023 reinforced our leadership in innovation: • Building on the success experienced in other markets, we received approval in the U.S. for Librela® the first and only injectable monoclonal antibody (mAb) treatment for the control of canine osteoarthritis (OA) pain. • Solensia®, the first and only injectable mAb treatment for feline OA pain continued to experience success in markets around the world. • We received approval in the United States for Apoquel® Chewable, the first and only chewable treatment for the control of allergic itch and inflammation in dogs. • We received approval in the European Union, for three new claims for Simparica Trio®: the prevention of eyeworms and efficacy against sarcoptic and demodectic mange. • We launched Vetscan Mastigram+, the first on-farm mastitis diagnostic in the world. • In the European Union and Mexico, we received approval for Protivity®, the first modified live vaccine to offer protection against Mycoplasma bovis in healthy cattle. | |
| Deliver an Exceptional Experience to Delight our Customers | | | Throughout 2023, we continued to develop meaningful relationships with customers and meet their demands for animal health products: • We completed expansions at our manufacturing facilities in Lincoln, Nebraska, U.S., and in Tullamore, Ireland, to support the growth of our mAb production. • We expanded our R&D capabilities at our Durham, North Carolina, U.S., facility to help transform the diagnostics industry and provide veterinarians, livestock farmers and pet owners with new and better diagnostic solutions to support animal health. • We expanded Vetscan Imagyst® with new AI applications for veterinarians to rapidly detect and address certain health issues in dogs, cats and horses. | |
| Power our Business through Digital Solutions and Data Insights | | | We invested in digital and data technologies that advance animal care, including deployment of artificial intelligence (AI) capabilities on multiple fronts, including: • We used AI to help pet owners screen for signs of OA pain. • We used AI-powered platforms to accelerate our R&D regulatory timelines and time to market for new therapeutics, vaccines and diagnostics. • We expanded our Next-Generation Sales Engine from the United States to markets around the world, including Europe and Latin America, a sales platform providing information about how customers use our products. | |
| Support a Workplace Where Colleagues can Thrive | | | Success across our business starts with our colleagues who make the difference in everything we do. In 2023: • We enhanced our talent planning processes across Zoetis, ensuring career development and talent management with a focus on retention of key talent and succession planning. • We continued to focus on colleague well-being and inclusion, increasing resources and support for our colleagues including reinforcing flexibility in our ways of working, rolling-out additional inclusive benefits around the globe and implementing new ways of accessing benefits in the United States. • We invested in global platforms and manager training to improve our agility, modernize the way we do business and engage our colleagues, with a focus on non-desk workforce colleagues, to ensure connection, alignment and collaboration across the organization. • We measure success by our colleague engagement scores which have remained best in class for several years. • We earned external recognition in markets around the world including “best” workplace for innovators, for working parents, for LGBTQ+ colleagues, and for multicultural women. | |
| CEO | | |||
| |||||
| | We • | |||
• We • • | | ||||
| | | At Zoetis, • We • We optimized our indirect procurement function to improve not just costs, but also |
• In | |||||
| |
| NEO | | | | |
| Wetteny Joseph EVP and CFO | | | • • Successfully • Enhanced focus on intercompany processes and efficiencies across the Company through cross-functional finance working group; enhanced balance sheet and cash flow quarterly analysis; and enhanced and simplified controls around sales incentives. • Achieved Individual Development Plan completion rate of over 85% for the finance function and formed the Finance Growth Forum integrated initiative targeted at enhancing colleagues’ skillset, growth mindset and career development opportunities by providing relevant, impactful and dynamic learning resources, tools and more. • Further enhanced our budgeting scenario planning process to enable agile decisions in light of dynamic global operating environment. | |
| Wafaa Mamilli EVP, Chief Digital and Technology Officer and Group President, China, Brazil and Precision Animal Health | | | • Building on our industry-leading data and analytics capabilities, established our Generative Artificial Intelligence (AI) Strategy, with an intentional and structured approach, defined our golden use cases, launched our AI corporate policy and activated a governance council to guide responsible AI development. • Successfully extended Zoetis’ predictive analytics platform to nine of our major international markets beyond the United States to help our commercial sales teams better understand and meet customer needs. • Exceeded revenue commitments in Brazil through investments in a highly successful Librela® launch, and the execution of commercial strategies in livestock and companion animal. • Led the China market through a resilient and focused execution on plan • Continued to enhance our talent transformation agenda demonstrated by our high retention rates, maintaining our strong | |
| Heidi C. Chen EVP, General Counsel and Corporate Secretary; Business Lead of Human Health Diagnostics | | | • Oversaw the granting of nearly 450 patents globally in • • Provided strategic • • | |
| EVP | | | • o Librela®, the first injectable mAb therapy to o Solensia®, the first injectable monoclonal antibody therapy to treat osteoarthritis pain in cats, in Brazil o Protivity™ for cattle in the European Union o Poulvac® Procerta® HVT-IBD for poultry in the European Union • • • • Advanced multiple AI efforts to increase efficiency and effectiveness of research, clinical and regulatory activities. | |
| NEO | | | | AIP Target Amount | | | | AIP Award % of Target | | | | AIP Award Paid | | |||||||||
| Kristin C. Peck | | | | | $ | 1,800,000 | | | | | | | 73% | | | | | | $ | 1,314,000 | | |
| Wetteny Joseph | | | | | $ | 630,000 | | | | | | | 73% | | | | | | $ | 459,900 | | |
| Glenn C. David(a) | | | | | $ | 652,500 | | | | | | | 0% | | | | | | $ | 0 | | |
| Heidi C. Chen | | | | | $ | 430,500 | | | | | | | 73% | | | | | | $ | 314,265 | | |
| Wafaa Mamilli(b) | | | | | $ | 486,667 | | | | | | | 73% | | | | | | $ | 355,267 | | |
| NEO | | | | AIP Target Amount | | | | AIP Award % of Target | | | | AIP Award Paid | | |||||||||
| Kristin C. Peck | | | | | $ | 1,800,000 | | | | | | | 117% | | | | | | $ | 2,106,000 | | |
| Wetteny Joseph | | | | | $ | 652,500 | | | | | | | 117% | | | | | | $ | 763,425 | | |
| Wafaa Mamilli | | | | | $ | 520,000 | | | | | | | 117% | | | | | | $ | 608,400 | | |
| Heidi C. Chen | | | | | $ | 444,500 | | | | | | | 116% | | | | | | $ | 513,398 | | |
| Robert J. Polzer | | | | | $ | 460,000 | | | | | | | 117% | | | | | | $ | 538,200 | | |
| | In | | | | | |
| Performance Award Units | | | | Objectives | |
| We award performance award units to enhance the alignment of executive pay with the value created for our shareholders. Performance award units provide executives with the right to receive shares of our stock after the end of the three-year performance vesting period. The number of shares paid, if any, is generally subject to continued employment (with exceptions for certain terminations of employment) and the Company’s | | | | • Align the interests of executives with those of shareholders over the performance vesting • Retain executive talent, as performance awards provide an opportunity for higher rewards when the Company’s total shareholder return results exceed the median of the S&P 500 • Encourage stock ownership by delivering shares upon settlement in accordance with the Company’s | |
| The performance award unit vesting schedule is as follows: | | | | | |
| If the Relative TSR for the | | | | The number of shares of stock that will vest is: | |
| Below the 25th percentile of the S&P 500 Group | | | | Zero | |
| At the 25th percentile of the S&P 500 Group | | | | 50% of the target number of units | |
| At the 50th percentile of the S&P 500 Group | | | | 100% of the target number of units | |
| At or above the 75th percentile of the S&P 500 Group | | | | 200% of the target number of units | |
| The number of shares that vest and are paid is determined by linear interpolation when the Relative TSR is between the | |
| Stock Options | | | | Objectives | |
| We view stock options as a form of long-term incentive that focuses and rewards executives for increasing our stock price. If the stock price does not increase from the level at the date of the grant, the stock options will have no value to the executives. Stock options have a three-year graded vesting period (one-third of the award vests on each anniversary of the grant date). | | | | • Encourage our executives to focus on decisions that will lead to increases in the stock price for the long term • Retain executive talent, since executives generally must remain with the Company | |
| Restricted Stock Units | | | | Objectives | |
| RSUs provide executives with the right to receive shares of our stock | | | | • Align the interests of executives with those of shareholders over the vesting period • Retain executive talent • Encourage stock ownership by delivering shares upon settlement | |
| | | | | | Value of Equity Awards: | | | | Number of Shares Underlying Awards: | | |||||||||||||||||||||||||||||||||||
| NEO | | | Total LTI Value | | | | Stock Options | | | RSUs | | | Performance Award Units | | | | Stock Options | | | RSUs | | | Performance Award Units | | |||||||||||||||||||||
| Kristin C. Peck | | | | $ | 11,200,000 | | | | | | $ | 2,800,000 | | | | | $ | 2,800,000 | | | | | $ | 5,600,000 | | | | | | | 54,751 | | | | | | 13,909 | | | | | | 23,777 | | |
| Wetteny Joseph | | | | $ | 2,300,000 | | | | | | $ | 575,000 | | | | | $ | 575,000 | | | | | $ | 1,150,000 | | | | | | | 11,243 | | | | | | 2,856 | | | | | | 4,882 | | |
| Glenn C. David | | | | $ | 2,772,500 | | | | | | $ | 693,125 | | | | | $ | 693,125 | | | | | $ | 1,386,250 | | | | | | | 13,553 | | | | | | 3,443 | | | | | | 5,885 | | |
| Heidi C. Chen | | | | $ | 1,325,000 | | | | | | $ | 331,250 | | | | | $ | 331,250 | | | | | $ | 662,500 | | | | | | | 6,477 | | | | | | 1,645 | | | | | | 2,812 | | |
| Wafaa Mamilli | | | | $ | 1,100,000 | | | | | | $ | 275,000 | | | | | $ | 275,000 | | | | | $ | 550,000 | | | | | | | 5,377 | | | | | | 1,366 | | | | | | 2,335 | | |
| | | | | | Value of Equity Awards: | | | | Number of Shares Underlying Awards: | | |||||||||||||||||||||||||||||||||||
| NEO | | | Total LTI Value | | | | Stock Options | | | RSUs | | | Performance Award Units | | | | Stock Options | | | RSUs | | | Performance Award Units | | |||||||||||||||||||||
| Kristin C. Peck | | | | $ | 11,700,000 | | | | | | $ | 2,925,000 | | | | | $ | 2,925,000 | | | | | $ | 5,850,000 | | | | | | | 67,148 | | | | | | 18,047 | | | | | | 24,555 | | |
| Wetteny Joseph | | | | $ | 2,650,000 | | | | | | $ | 662,500 | | | | | $ | 662,500 | | | | | $ | 1,325,000 | | | | | | | 15,208 | | | | | | 4,087 | | | | | | 5,561 | | |
| Wafaa Mamilli | | | | $ | 1,330,000 | | | | | | $ | 332,500 | | | | | $ | 332,500 | | | | | $ | 665,000 | | | | | | | 7,633 | | | | | | 2,051 | | | | | | 2,791 | | |
| Heidi C. Chen | | | | $ | 1,365,000 | | | | | | $ | 341,250 | | | | | $ | 341,250 | | | | | $ | 682,500 | | | | | | | 7,834 | | | | | | 2,105 | | | | | | 2,864 | | |
| Robert J. Polzer | | | | $ | 1,265,000 | | | | | | $ | 316,250 | | | | | $ | 316,250 | | | | | $ | 632,500 | | | | | | | 7,260 | | | | | | 1,951 | | | | | | 2,654 | | |
| | | | Severance (Base Salary) | | | | Continued Health and Life Insurance (at active | | | | Annual Incentive | | |
| Non-Change of Control Severance: | | | | | | | | | | | | | |
| CEO | | | | 18 months | | | | 12 months | | | | 1.5x target | |
| Other Participants | | | | 12 months | | | | 12 months | | | | 1x target | |
| Change of Control Severance: | | | | | | | | | | | | | |
| CEO | | | | 30 months | | | | 18 months | | | | 2.5x target | |
| Other Participants | | | | 24 months | | | | 18 months | | | | 2x target | |
| Name and Principal Position | | | | Year | | | | Salary ($) | | | | Bonus ($) | | | | Stock Awards(1) ($) | | | | Option Awards(2) ($) | | | | Non-Equity Incentive Plan Compensation(3) ($) | | | | All Other Compensation(4) ($) | | | | Total ($) | | Name and Principal Position | | | | Year | | | | Salary ($) | | | | Bonus ($) | | | | Stock Awards(1) ($) | | | | Option Awards(2) ($) | | | | Non-Equity Incentive Plan Compensation(3) ($) | | | | All Other Compensation(4) ($) | | | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||
| Kristin C. Peck Chief Executive Officer | | | | | | 2022 | | | | | | | 1,200,000 | | | | | | | | | | | | 8,399,841 | | | | | | | 2,799,966 | | | | | | | 1,314,000 | | | | | | | 289,733 | | | | | | | 14,003,540 | | | Kristin C. Peck Chief Executive Officer | | | | | | 2023 | | | | | | | 1,200,000 | | | | | | | | | | | | 8,774,860 | | | | | | | 2,924,967 | | | | | | | 2,106,000 | | | | | | | 232,026 | | | | | | | 15,237,853 | | | ||||
| | | 2021 | | | | | | | 1,200,000 | | | | | | | | | | | | | | 6,929,797 | | | | | | | 2,309,970 | | | | | | | 2,340,000 | | | | | | | 318,724 | | | | | | | 13,098,491 | | | | | | 2022 | | | | | | | 1,200,000 | | | | | | | | | | | | | | 8,399,841 | | | | | | | 2,799,966 | | | | | | | 1,314,000 | | | | | | | 289,733 | | | | | | | 14,003,540 | | | |||||||
| | | 2020 | | | | | | | 1,100,000 | | | | | | | | | | | | | | 5,684,840 | | | | | | | 1,894,975 | | | | | | | 1,531,200 | | | | | | | 163,297 | | | | | | | 10,374,312 | | | | 2021 | | | | | | | 1,200,000 | | | | | | | | | | | | | | 6,929,797 | | | | | | | 2,309,970 | | | | | | | 2,340,000 | | | | | | | 318,724 | | | | | | | 13,098,491 | | | |||||||||
| Wetteny Joseph Executive Vice President (“EVP”) and Chief Financial Officer | | | | | | 2022 | | | | | | | 700,000 | | | | | | | | | | | | | | 1,724,722 | | | | | | | 574,967 | | | | | | | 459,900 | | | | | | | 95,448 | | | | | | | 3,555,037 | | | Wetteny Joseph Executive Vice President (“EVP”) and Chief Financial Officer | | | | 2023 | | | | | | | 725,000 | | | | | | | | | | | | | | 1,987,233 | | | | | | | 662,460 | | | | | | | 763,425 | | | | | | | 109,654 | | | | | | | 4,247,772 | | | ||
| | | 2021 | | | | | | | 393,750 | | | | | | | 2,000,000 | | | | | | | 5,099,927 | | | | | | | — | | | | | | | 472,500 | | | | | | | 43,641 | | | | | | | 8,009,818 | | | | | | | | 2022 | | | | | | | 700,000 | | | | | | | | | | | | | | 1,724,722 | | | | | | | 574,967 | | | | | | | 459,900 | | | | | | | 95,448 | | | | | | | 3,555,037 | | | |||||
| Glenn C. David(5) EVP and Group President, U.S. Operations, Global Diagnostics and BioDevices | | | | | | 2022 | | | | | | | 725,000 | | | | | | | | | | | | | | 2,079,111 | | | | | | | 693,100 | | | | | | | — | | | | | | | 136,359 | | | | | | | 3,633,570 | | | | | | 2021 | | | | | | | 393,750 | | | | | | | 2,000,000 | | | | | | | 5,099,927 | | | | | | | — | | | | | | | 472,500 | | | | | | | 43,641 | | | | | | | 8,009,818 | | | |||
| | | 2021 | | | | | | | 725,000 | | | | | | | | | | | | | | 2,079,156 | | | | | | | 693,089 | | | | | | | 1,017,900 | | | | | | | 159,250 | | | | | | | 4,674,395 | | | Wafaa Mamilli EVP, Chief Digital and Technology Officer and Group President for China, Brazil and Precision Animal Health | | | | 2023 | | | | | | | 650,000 | | | | | | | | | | | | | | 997,334 | | | | | | | 332,493 | | | | | | | 608,400 | | | | | | | 98,267 | | | | | | | 2,686,494 | | | ||||||
| | | 2020 | | | | | | | 725,000 | | | | | | | | | | | | | | 1,912,403 | | | | | | | 637,492 | | | | | | | 672,800 | | | | | | | 130,378 | | | | | | | 4,078,073 | | | | | | | | 2022 | | | | | | | 608,333 | | | | | | | | | | | | | | 824,915 | | | | | | | 274,980 | | | | | | | 355,267 | | | | | | | 114,561 | | | | | | | 2,178,056 | | | |||||
| Heidi C. Chen EVP, General Counsel and Corporate Secretary; Business Lead of Human Health Diagnostics | | | | | | 2022 | | | | | | | 615,000 | | | | | | | | | | | | | | 993,421 | | | | | | | 331,234 | | | | | | | 314,265 | | | | | | | 106,682 | | | | | | | 2,360,602 | | | | | | 2021 | | | | | | | 600,000 | | | | | | | | | | | | | | 712,230 | | | | | | | 237,472 | | | | | | | 727,200 | | | | | | | 195,773 | | | | | | | 2,472,675 | | | |||
| | | 2021 | | | | | | | 615,000 | | | | | | | | | | | | | | 993,543 | | | | | | | 331,228 | | | | | | | 645,750 | | | | | | | 133,861 | | | | | | | 2,719,382 | | | Heidi C. Chen EVP, General Counsel and Corporate Secretary; Business Lead of Human Health Diagnostics | | | | 2023 | | | | | | | 635,000 | | | | | | | | | | | | | | 1,023,476 | | | | | | | 341,249 | | | | | | | 513,398 | | | | | | | 91,865 | | | | | | | 2,604,988 | | | ||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2022 | | | | | | | 615,000 | | | | | | | | | | | | | | 993,421 | | | | | | | 331,234 | | | | | | | 314,265 | | | | | | | 106,682 | | | | | | | 2,360,602 | | | |||||
| Wafaa Mamilli(6) EVP, Chief Digital and Technology Officer and Group President for China, Brazil and Precision Animal Health | | | | | | 2022 | | | | | | | 608,333 | | | | | | | | | | | | | | 824,915 | | | | | | | 274,980 | | | | | | | 355,267 | | | | | | | 114,561 | | | | | | | 2,178,056 | | | | | | 2021 | | | | | | | 615,000 | | | | | | | | | | | | | | 993,543 | | | | | | | 331,228 | | | | | | | 645,750 | | | | | | | 133,861 | | | | | | | 2,719,382 | | | |||
| | | 2021 | | | | | | | 600,000 | | | | | | | | | | | | | | 712,230 | | | | | | | 237,472 | | | | | | | 727,200 | | | | | | | 195,773 | | | | | | | 2,472,675 | | | Robert J. Polzer EVP and President of Research and Development | | | | 2023 | | | | | | | 575,000 | | | | | | | | | | | | | | 948,488 | | | | | | | 316,246 | | | | | | | 538,200 | | | | | | | 62,539 | | | | | | | 2,440,473 | | | ||||||
| | | 2020 | | | | | | | 556,489 | | | | | | | 1,250,000 | | | | | | | 974,788 | | | | | | | 574,978 | | | | | | | 559,680 | | | | | | | 237,263 | | | | | | | 4,153,198 | | |
| | | | Performance Award Unit Grants in 2022 | | | | | Performance Award Units Granted in 2023 | | ||||||||||||||||||||||
| Name | | | | Grant date target payout $ | | | | Maximum Value at Grant Date $ | | Name | | | | Grant Date Target Payout $ | | | | Maximum Value at Grant Date $ | | ||||||||||||
| Kristin C. Peck | | | | | | 5,599,959 | | | | | | | 11,199,918 | | | Kristin C. Peck | | | | | | 5,849,983 | | | | | | | 11,699,966 | | |
| Wetteny Joseph | | | | | | 1,149,809 | | | | | | | 2,299,618 | | | Wetteny Joseph | | | | | | 1,324,853 | | | | | | | 2,649,706 | | |
| Glenn C. David | | | | | | 1,386,035 | | | | | | | 2,772,070 | | | Wafaa Mamilli | | | | | | 664,928 | | | | | | | 1,329,856 | | |
| Heidi C. Chen | | | | | | 662,282 | | | | | | | 1,324,564 | | | Heidi C. Chen | | | | | | 682,319 | | | | | | | 1,364,638 | | |
| Wafaa Mamilli | | | | | | 549,939 | | | | | | | 1,099,878 | | | Robert J. Polzer | | | | | | 632,289 | | | | | | | 1,264,578 | | |
| Name | | | | Company Contributions to Defined Contribution Plan (i)($) | | | | Company Contributions Under the Zoetis Supplemental Savings Plan (ii)($) | | | | Relocation (iii) ($) | | | | Other (iv)($) | | | | All Other Compensation ($) | | Name | | | | Company Contributions to Defined Contribution Plan (i)($) | | | | Company Contributions Under the Zoetis Supplemental Savings Plan (ii)($) | | | | Other (iii)($) | | | | Total ($) | | |||||||||||||||||||||||||||
| Kristin C. Peck | | | | | | 24,400 | | | | | | | 258,800 | | | | | | | — | | | | | | | 6,533 | | | | | | | 289,733 | | | Kristin C. Peck | | | | | | 29,700 | | | | | | | 196,560 | | | | | | | 5,766 | | | | | | | 232,026 | | |
| Wetteny Joseph | | | | | | 24,400 | | | | | | | 69,323 | | | | | | | — | | | | | | | 1,725 | | | | | | | 95,448 | | | Wetteny Joseph | | | | | | 29,700 | | | | | | | 76,855 | | | | | | | 3,099 | | | | | | | 109,654 | | |
| Glenn C. David | | | | | | 17,381 | | | | | | | 115,032 | | | | | | | — | | | | | | | 3,946 | | | | | | | 136,359 | | | Wafaa Mamilli | | | | | | 29,700 | | | | | | | 60,774 | | | | | | | 7,793 | | | | | | | 98,267 | | |
| Heidi C. Chen | | | | | | 24,400 | | | | | | | 76,461 | | | | | | | — | | | | | | | 5,821 | | | | | | | 106,682 | | | Heidi C. Chen | | | | | | 29,700 | | | | | | | 55,665 | | | | | | | 6,500 | | | | | | | 91,865 | | |
| Wafaa Mamilli | | | | | | 24,400 | | | | | | | 82,299 | | | | | | | 2,134 | | | | | | | 5,728 | | | | | | | 114,561 | | | Robert J. Polzer | | | | | | 13,200 | | | | | | | 45,774 | | | | | | | 3,565 | | | | | | | 62,539 | | |
| | | | | | | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards(1) | | | | Estimated Future Payouts Under Equity Incentive Plan Awards(2) | | | | All Other Stock Awards: Number of Shares of Stock or Units (#) | | | | All Other Option Awards: Number of Securities Underlying Options (#) | | | | Exercise or Base Price of Option Awards(3) ($/Sh) | | | | Grant Date Fair Value of Stock and Option Awards(4) ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | | | Award | | | | Grant Date | | | | Threshold ($) | | | | Target ($) | | | | Maximum ($) | | | | Threshold (#) | | | | Target (#) | | | | Maximum (#) | | | ||||||||||||||||||||||||||||||||||||||||||||||||
| Kristin C. Peck | | | | Annual Incentive | | | | | | | | | | | 0 | | | | | | | 1,800,000 | | | | | | | 3,600,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||
| Stock Options(5) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 54,751 | | | | | | | 201.30 | | | | | | | 2,799,966 | | | ||||
| Restricted Stock Units(5) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 13,909 | | | | | | | | | | | | | | | | | | | | | 2,799,882 | | | ||||
| Performance Award Units(6) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | | | | | 23,777 | | | | | | | 47,554 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,599,959 | | | ||||
| Wetteny Joseph | | | | Annual Incentive | | | | | | | | | | | | | 0 | | | | | | | 630,000 | | | | | | | 1,260,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Stock Options(5) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,243 | | | | | | | 201.30 | | | | | | | 574,967 | | | ||||
| Restricted Stock Units(5) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,856 | | | | | | | | | | | | | | | | | | | | | 574,913 | | | ||||
| Performance Award Units(6) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | | | | | 4,882 | | | | | | | 9,764 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,149,809 | | | ||||
| Glenn C. David | | | | Annual Incentive | | | | | | | | | | | | | 0 | | | | | | | 652,500 | | | | | | | 1,305,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Stock Options(5) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 13,553 | | | | | | | 201.30 | | | | | | | 693,100 | | | ||||
| Restricted Stock Units(5) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,443 | | | | | | | | | | | | | | | | | | | | | 693,076 | | | ||||
| Performance Award Units(6) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | | | | | 5,885 | | | | | | | 11,770 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,386,035 | | | ||||
| Heidi C. Chen | | | | Annual Incentive | | | | | | | | | | | | | 0 | | | | | | | 430,500 | | | | | | | 861,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Stock Options(5) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 6,477 | | | | | | | 201.30 | | | | | | | 331,234 | | | ||||
| Restricted Stock Units(5) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,645 | | | | | | | | | | | | | | | | | | | | | 331,139 | | | ||||
| Performance Award Units(6) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | | | | | 2,812 | | | | | | | 5,624 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 662,282 | | | ||||
| Wafaa Mamilli | | | | Annual Incentive | | | | | | | | | | | | | 0 | | | | | | | 486,667 | | | | | | | 973,334 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Stock Options(5) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,377 | | | | | | | 201.30 | | | | | | | 274,980 | | | ||||
| Restricted Stock Units(5) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,366 | | | | | | | | | | | | | | | | | | | | | 274,976 | | | ||||
| Performance Award Units(6) | | | | | | 2/8/2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | | | | | 2,335 | | | | | | | 4,670 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 549,939 | | |
| | | | | | | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards(1) | | | | Estimated Future Payouts Under Equity Incentive Plan Awards(2) | | | | All Other Stock Awards: Number of Shares of Stock or Units (#) | | | | All Other Option Awards: Number of Securities Underlying Options (#) | | | | Exercise or Base Price of Option Awards(3) ($/Sh) | | | | Grant Date Fair Value of Stock and Option Awards(4) ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | | | Award | | | | Grant Date | | | | Threshold ($) | | | | Target ($) | | | | Maximum ($) | | | | Threshold (#) | | | | Target (#) | | | | Maximum (#) | | | ||||||||||||||||||||||||||||||||||||||||||||||||
| Kristin C. Peck | | | | Annual Incentive | | | | | | | | | | | 0 | | | | | | | 1,800,000 | | | | | | | 3,600,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||
| Stock Options(5) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 67,148 | | | | | | | 162.07 | | | | | | | 2,924,967 | | | ||||
| Restricted Stock Units(5) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 18,047 | | | | | | | | | | | | | | | | | | | | | 2,924,877 | | | ||||
| Performance Award Units(6) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | | | | | 24,555 | | | | | | | 49,110 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,849,983 | | | ||||
| Wetteny Joseph | | | | Annual Incentive | | | | | | | | | | | | | 0 | | | | | | | 652,500 | | | | | | | 1,305,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Stock Options(5) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 15,208 | | | | | | | 162.07 | | | | | | | 662,460 | | | ||||
| Restricted Stock Units(5) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,087 | | | | | | | | | | | | | | | | | | | | | 662,380 | | | ||||
| Performance Award Units(6) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | | | | | 5,561 | | | | | | | 11,122 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,324,853 | | | ||||
| Wafaa Mamilli | | | | Annual Incentive | | | | | | | | | | | | | 0 | | | | | | | 520,000 | | | | | | | 1,040,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Stock Options(5) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,633 | | | | | | | 162.07 | | | | | | | 332,493 | | | ||||
| Restricted Stock Units(5) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,051 | | | | | | | | | | | | | | | | | | | | | 332,406 | | | ||||
| Performance Award Units(6) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | | | | | 2,791 | | | | | | | 5,582 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 664,928 | | | ||||
| Heidi C. Chen | | | | Annual Incentive | | | | | | | | | | | | | 0 | | | | | | | 444,500 | | | | | | | 889,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Stock Options(5) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,834 | | | | | | | 162.07 | | | | | | | 341,249 | | | ||||
| Restricted Stock Units(5) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2,105 | | | | | | | | | | | | | | | | | | | | | 341,157 | | | ||||
| Performance Award Units(6) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | | | | | 2,864 | | | | | | | 5,728 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 682,319 | | | ||||
| Robert J. Polzer | | | | Annual Incentive | | | | | | | | | | | | | 0 | | | | | | | 460,000 | | | | | | | 920,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Stock Options(5) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,260 | | | | | | | 162.07 | | | | | | | 316,246 | | | ||||
| Restricted Stock Units(5) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1,951 | | | | | | | | | | | | | | | | | | | | | 316,199 | | | ||||
| Performance Award Units(6) | | | | | | 2/8/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | | | | | 2,654 | | | | | | | 5,308 | | | | | | | | | | | | | | | | | | | | | | | | | | | | 632,289 | | |
| | | | | | | Option Awards | | | | Stock Awards | | | | | | | | Option Awards | | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | | | Grant Date | | | | Number of Securities Underlying Unexercised Options Exercisable (#) | | | | Number of Securities Underlying Unexercised Options Unexercisable (#)(1) | | | | Option Exercise Price ($) | | | | Option Expiration Date | | | | Number of Shares or Units of Stock That Have Not Vested (#)(1)(2) | | | | Market Value of Shares or Units of Stock That Have Not Vested ($)(3) | | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights that That Have Not Vested (#)(1)(2)(4) | | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(3) | | Name | | | | Grant Date | | | | Number of Securities Underlying Unexercised Options Exercisable (#) | | | | Number of Securities Underlying Unexercised Options Unexercisable (#) | | | | Option Exercise Price ($) | | | | Option Expiration Date | | | | Number of Shares or Units of Stock That Have Not Vested (#)(1) | | | | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units, or Other Rights that That Have Not Vested (#)(1)(3) | | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(2) | | ||||||||||||||||||||||||||||||||||||||||||
| Kristin C. Peck | | | | 2/27/2015 | | | | | | 37,132 | | | | | | | — | | | | | | | 46.09 | | | | | 2/26/2025 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | Kristin C. Peck | | | | 2/27/2015 | | | | | | 13,382 | | | | | | | — | | | | | | | 46.09 | | | | | 2/26/2025 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | |
| 2/19/2016 | | | | | | 35,250 | | | | | | | — | | | | | | | 41.83 | | | | | 2/18/2026 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | 2/19/2016 | | | | | | 20,000 | | | | | | | — | | | | | | | 41.83 | | | | | 2/18/2026 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||||||
| 2/14/2017 | | | | | | 32,634 | | | | | | | — | | | | | | | 55.02 | | | | | 2/13/2027 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | 2/14/2017 | | | | | | 32,634 | | | | | | | — | | | | | | | 55.02 | | | | | 2/13/2027 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||||||
| 2/13/2018 | | | | | | 24,642 | | | | | | | — | | | | | | | 73.24 | | | | | 2/12/2028 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | 2/13/2018 | | | | | | 24,642 | | | | | | | — | | | | | | | 73.24 | | | | | 2/12/2028 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||||||
| 2/12/2019 | | | | | | 20,661 | | | | | | | — | | | | | | | 87.51 | | | | | 2/11/2029 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | 2/12/2019 | | | | | | 20,661 | | | | | | | — | | | | | | | 87.51 | | | | | 2/11/2029 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||||||
| 2/11/2020 | | | | | | — | | | | | | | 55,866 | | | | | | | 144.03 | | | | | 2/10/2030 | | | | | | 29,916(5) | | | | | | | 4,384,190 | | | | | | | — | | | | | | | — | | | | 2/11/2020 | | | | | | 55,866 | | | | | | | — | | | | | | | 144.03 | | | | | 2/10/2030 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||||||
| 2/10/2021 | | | | | | — | | | | | | | 61,078 | | | | | | | 160.62 | | | | | 2/9/2031 | | | | | | 14,543 | | | | | | | 2,131,277 | | | | | | | 22,374 | | | | | | | 3,278,910 | | | | 2/10/2021(4) | | | | | | — | | | | | | | 61,078 | | | | | | | 160.62 | | | | | 2/9/2031 | | | | | | 36,730(5) | | | | | | | 7,249,411 | | | | | | | — | | | | | | | — | | | |||||||
| 2/8/2022 | | | | | | — | | | | | | | 54,751 | | | | | | | 201.30 | | | | | 2/8/2032 | | | | | | 13,988 | | | | | | | 2,049,941 | | | | | | | 23,912 | | | | | | | 3,504,304 | | | | 2/8/2022(4) | | | | | | — | | | | | | | 54,751 | | | | | | | 201.30 | | | | | 2/8/2032 | | | | | | 14,114 | | | | | | | 2,785,680 | | | | | | | 24,127 | | | | | | | 4,761,946 | | | |||||||
| Wetteny Joseph | | | | 6/30/2021 | | | | | | — | | | | | | | — | | | | | | | — | | | | | — | | | | | | 27633 | | | | | | | 4,049,616 | | | | | | | — | | | | | | | — | | | | 2/8/2023(6) | | | | | | — | | | | | | | 67,148 | | | | | | | 162.07 | | | | | 2/8/2033 | | | | | | 18,167 | | | | | | | 3,585,621 | | | | | | | 24,718 | | | | | | | 4,878,592 | | | |||
| 2/8/2022 | | | | | | — | | | | | | | 11,243 | | | | | | | 201.30 | | | | | 2/8/2032 | | | | | | 2,872 | | | | | | | 420,892 | | | | | | | 4,910 | | | | | | | 719,561 | | | Wetteny Joseph | | | | 6/30/2021(4) | | | | | | — | | | | | | | — | | | | | | | — | | | | | — | | | | | | 27,880(5) | | | | | | | 5,502,676 | | | | | | | — | | | | | | | — | | | ||||
| Glenn C. David | | | | 2/11/2020 | | | | | | — | | | | | | | 18,794 | | | | | | | 144.03 | | | | | 2/10/2030 | | | | | | 10,064(5) | | | | | | | 1,474,879 | | | | | | | — | | | | | | | — | | | | 2/8/2022(4) | | | | | | — | | | | | | | 11,243 | | | | | | | 201.30 | | | | | 2/8/2032 | | | | | | 2,898 | | | | | | | 571,978 | | | | | | | 4,954 | | | | | | | 977,771 | | | |||
| 2/10/2021 | | | | | | — | | | | | | | 18,326 | | | | | | | 160.62 | | | | | 2/9/2031 | | | | | | 4,363 | | | | | | | 639,398 | | | | | | | 6,713 | | | | | | | 983,790 | | | | 2/8/2023(6) | | | | | | — | | | | | | | 15,208 | | | | | | | 162.07 | | | | | 2/8/2033 | | | | | | 4,114 | | | | | | | 811,980 | | | | | | | 5,598 | | | | | | | 1,104,877 | | | |||||||
| 2/8/2022 | | | | | | — | | | | | | | 13,553 | | | | | | | 201.30 | | | | | 2/8/2032 | | | | | | 3,463 | | | | | | | 507,503 | | | | | | | 5,919 | | | | | | | 867,429 | | | Wafaa Mamilli | | | | 2/11/2020(4) | | | | | | 16,951 | | | | | | | — | | | | | | | 144.03 | | | | | 2/10/2030 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | ||||
| Heidi C. Chen | | | | 2/12/2019 | | | | | | 14,921 | | | | | | | — | | | | | | | 87.51 | | | | | 2/11/2029 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | 2/10/2021(4) | | | | | | — | | | | | | | 6,279 | | | | | | | 160.62 | | | | | 2/9/2031 | | | | | | 3,775(5) | | | | | | | 745,046 | | | | | | | — | | | | | | | — | | | |||
| 2/11/2020 | | | | | | — | | | | | | | 9,581 | | | | | | | 144.03 | | | | | 2/10/2030 | | | | | | 5,130(5) | | | | | | | 751,802 | | | | | | | — | | | | | | | — | | | | 2/8/2022(4) | | | | | | — | | | | | | | 5,377 | | | | | | | 201.30 | | | | | 2/8/2032 | | | | | | 1,386 | | | | | | | 273,555 | | | | | | | 2,369 | | | | | | | 467,570 | | | |||||||
| 2/10/2021 | | | | | | — | | | | | | | 8,758 | | | | | | | 160.62 | | | | | 02/09/31 | | | | | | 2,085 | | | | | | | 305,557 | | | | | | | 3,208 | | | | | | | 470,132 | | | | 2/8/2023(6) | | | | | | — | | | | | | | 7,633 | | | | | | | 162.07 | | | | | 2/8/2033 | | | | | | 2,065 | | | | | | | 407,569 | | | | | | | 2,810 | | | | | | | 554,610 | | | |||||||
| 2/8/2022 | | | | | | — | | | | | | | 6,477 | | | | | | | 201.30 | | | | | 2/8/2032 | | | | | | 1,654 | | | | | | | 242,394 | | | | | | | 2,828 | | | | | | | 414,443 | | | Heidi C. Chen | | | | 2/12/2019 | | | | | | 14,921 | | | | | | | — | | | | | | | 87.51 | | | | | 2/11/2029 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | ||||
| Wafaa Mamilli | | | | 2/11/2020 | | | | | | — | | | | | | | 16,951 | | | | | | | 144.03 | | | | | 2/10/2030 | | | | | | 4,246(5) | | | | | | | 622,251 | | | | | | | — | | | | | | | — | | | | 2/11/2020 | | | | | | 9,581 | | | | | | | — | | | | | | | 144.03 | | | | | 2/10/2030 | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | |||
| 2/10/2021 | | | | | | — | | | | | | | 6,279 | | | | | | | 160.62 | | | | | 2/9/2031 | | | | | | 1,495 | | | | | | | 219,092 | | | | | | | 2,300 | | | | | | | 337,065 | | | | 2/10/2021(4) | | | | | | — | | | | | | | 8,758 | | | | | | | 160.62 | | | | | 02/09/31 | | | | | | 5,266(5) | | | | | | | 1,039,330 | | | | | | | — | | | | | | | — | | | |||||||
| 2/8/2022 | | | | | | — | | | | | | | 5,377 | | | | | | | 201.30 | | | | | 2/8/2032 | | | | | | 1,374 | | | | | | | 201,360 | | | | | | | 2,348 | | | | | | | 344,099 | | | | 2/8/2022(4) | | | | | | — | | | | | | | 6,477 | | | | | | | 201.30 | | | | | 2/8/2032 | | | | | | 1,669 | | | | | | | 329,411 | | | | | | | 2,853 | | | | | | | 563,097 | | | |||||||
| | 2/8/2023(6) | | | | | | — | | | | | | | 7,834 | | | | | | | 162.07 | | | | | 2/8/2033 | | | | | | 2,119 | | | | | | | 418,227 | | | | | | | 2,883 | | | | | | | 569,018 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Robert J. Polzer | | | | 2/10/2021(4) | | | | | | — | | | | | | | 1,057 | | | | | | | 160.62 | | | | | 2/9/2031 | | | | | | 636(5) | | | | | | | 125,536 | | | | | | | — | | | | | | | — | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2/8/2022(4) | | | | | | — | | | | | | | 5,455 | | | | | | | 201.30 | | | | | 2/8/2032 | | | | | | 1,405 | | | | | | | 277,305 | | | | | | | 2,404 | | | | | | | 474,477 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2/8/2023(6) | | | | | | — | | | | | | | 7,260 | | | | | | | 162.07 | | | | | 2/8/2033 | | | | | | 1,964 | | | | | | | 387,635 | | | | | | | 2,672 | | | | | | | 527,373 | | |
| Name | | | | RSU Awards | | | | Earned Performance award units | | | | Total Number of Units that Have Not Vested | | Name | | | | RSU Awards | | | | Earned Performance Award Units | | | | Total Number of Units that Have Not Vested | | ||||||||||||||||||
| Kristin C. Peck | | | | | | 13,380 | | | | | | | 16,536 | | | | | | | 29,916 | | | Kristin C. Peck | | | | | | 14,673 | | | | | | | 22,057 | | | | | | | 36,730 | | |
| Wetteny Joseph | | | | | | — | | | | | | | — | | | | | | | — | | | Wetteny Joseph | | | | | | 27,880 | | | | | | | — | | | | | | | 27,880 | | |
| Glenn C. David | | | | | | 4,501 | | | | | | | 5,563 | | | | | | | 10,064 | | | Wafaa Mamilli | | | | | | 1,508 | | | | | | | 2,267 | | | | | | | 3,775 | | |
| Heidi C. Chen | | | | | | 2,294 | | | | | | | 2,836 | | | | | | | 5,130 | | | Heidi C. Chen | | | | | | 2,104 | | | | | | | 3,162 | | | | | | | 5,266 | | |
| Wafaa Mamilli | | | | | | 2,501 | | | | | | | 1,745 | | | | | | | 4,246 | | | Robert J. Polzer | | | | | | 254 | | | | | | | 382 | | | | | | | 636 | | |
| | | | Option Awards | | | | RSU Awards | | | | Performance Award Units(1) | | | | | Option Awards | | | | RSU Awards | | | | Performance Award Units(1) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | | | Number of Shares Acquired on Exercise (#) | | | | Value Realized on Exercise ($)(2) | | | | Number of Shares Acquired on Vesting (#) | | | | Value Realized on Vesting ($)(3) | | | | Number of Shares Acquired on Vesting (#) | | | | Value Realized on Vesting ($)(3) | | Name | | | | Number of Shares Acquired on Exercise (#) | | | | Value Realized on Exercise ($)(2) | | | | Number of Shares Acquired on Vesting (#) | | | | Value Realized on Vesting ($)(3) | | | | Number of Shares Acquired on Vesting (#) | | | | Value Realized on Vesting ($)(3) | | ||||||||||||||||||||||||||||||||||||
| Kristin C. Peck | | | | | | 20,000 | | | | | | | 3,050,826 | | | | | | | 5,230 | | | | | | | 1,040,090 | | | | | | | 18,036 | | | | | | | 3,586,819 | | | Kristin C. Peck | | | | | | 39,000 | | | | | | | 5,201,209 | | | | | | | 13,410 | | | | | | | 2,123,206 | | | | | | | 16,574 | | | | | | | 2,624,161 | | |
| Wetteny Joseph(4) | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | Wetteny Joseph(4) | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | |
| Glenn C. David | | | | | | 32,390 | | | | | | | 3,634,977 | | | | | | | 6,247 | | | | | | | 1,242,341 | | | | | | | 21,543 | | | | | | | 4,284,256 | | | Wafaa Mamilli | | | | | | — | | | | | | | — | | | | | | | 4,067 | | | | | | | 643,929 | | | | | | | 1,749 | | | | | | | 276,919 | | |
| Heidi C. Chen | | | | | | — | | | | | | | — | | | | | | | 3,776 | | | | | | | 750,933 | | | | | | | 13,025 | | | | | | | 2,590,282 | | | Heidi C. Chen | | | | | | — | | | | | | | — | | | | | | | 2,299 | | | | | | | 364,000 | | | | | | | 2,841 | | | | | | | 449,815 | | |
| Wafaa Mamilli(4) | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | Robert J. Polzer | | | | | | 1,179 | | | | | | | 54,128 | | | | | | | 282 | | | | | | | 44,649 | | | | | | | 349 | | | | | | | 55,258 | | |
| Name | | | | Plan | | | | Aggregate Balance at January 1, 2022(1) ($) | | | | Executive Contributions in 2022(2) ($) | | | | Company Contributions in 2022(3) ($) | | | | Aggregate Earnings in 2022(4) ($) | | | | Aggregate Balance as of December 31, 2022 ($) | | Name | | | | Plan | | | | Aggregate Balance at January 1, 2023(1) ($) | | | | Executive Contributions in 2023(2) ($) | | | | Company Contributions in 2023(3) ($) | | | | Aggregate Earnings in 2023(4) ($) | | | | Aggregate Balance as of December 31, 2023(5) ($) | | ||||||||||||||||||||||||||||||
| Kristin C. Peck | | | | Zoetis Supplemental Savings Plan | | | | | | 5,153,956 | | | | | | | 161,750 | | | | | | | 258,800 | | | | | | | (1,474,017) | | | | | | | 4,100,489 | | | Kristin C. Peck | | | | Zoetis Supplemental Savings Plan | | | | | | 4,100,489 | | | | | | | 109,200 | | | | | | | 196,560 | | | | | | | 821,040 | | | | | | | 5,227,290 | | |
| Wetteny Joseph | | | | Zoetis Supplemental Savings Plan | | | | | | 640,106 | | | | | | | 440,654 | | | | | | | 69,323 | | | | | | | 9,149 | | | | | | | 1,159,232 | | | Wetteny Joseph | | | | Zoetis Supplemental Savings Plan | | | | | | 1,159,232 | | | | | | | 184,206 | | | | | | | 76,855 | | | | | | | 65,245 | | | | | | | 1,485,538 | | |
| Glenn C. David | | | | Zoetis Supplemental Savings Plan | | | | | | 3,519,882 | | | | | | | 190,636 | | | | | | | 115,032 | | | | | | | (1,016,628) | | | | | | | 2,808,923 | | | Wafaa Mamilli | | | | Zoetis Supplemental Savings Plan | | | | | | 1,391,391 | | | | | | | 135,053 | | | | | | | 60,774 | | | | | | | 272,044 | | | | | | | 1,859,262 | | |
| Heidi C. Chen | | | | Zoetis Supplemental Savings Plan | | | | | | 3,052,624 | | | | | | | 264,281 | | | | | | | 76,461 | | | | | | | (760,209) | | | | | | | 2,633,157 | | | Heidi C. Chen | | | | Zoetis Supplemental Savings Plan | | | | | | 2,633,157 | | | | | | | 88,708 | | | | | | | 55,665 | | | | | | | 768,563 | | | | | | | 3,546,092 | | |
| Wafaa Mamilli | | | | Zoetis Supplemental Savings Plan | | | | | | 1,004,789 | | | | | | | 582,057 | | | | | | | 82,299 | | | | | | | (277,754) | | | | | | | 1,391,391 | | | Robert J. Polzer | | | | Zoetis Supplemental Savings Plan | | | | | | 382,019 | | | | | | | 29,848 | | | | | | | 45,774 | | | | | | | 128,980 | | | | | | | 586,621 | | |
| Name* | | | | Description | | | | Without Cause: Apart from a Restructuring Event or CIC ($) | | | | Without Cause: Restructuring Event ($) | | | | Without Cause or for Good Reason Upon or Within 24 Months Following a CIC ($) | | | | Death or Disability ($) | | | | Voluntary Termination/ Retirement ($) | | Name* | | | | Description | | | | Without Cause: Apart from a Restructuring Event or CIC ($) | | | | Without Cause: Restructuring Event ($) | | | | Without Cause or for Good Reason Upon or Within 24 Months Following a CIC ($) | | | | Death or Disability ($) | | | | Voluntary Termination/ Retirement ($) | | ||||||||||||||||||||||||||||||
| Kristin C. Peck | | | | Severance | | | | | | 4,500,000(1) | | | | | | | 4,500,000(1) | | | | | | | 7,500,000(6) | | | | | | | — | | | | | | | — | | | Kristin C. Peck | | | | Severance | | | | | | 4,500,000(1) | | | | | | | 4,500,000(1) | | | | | | | 7,500,000(6) | | | | | | | — | | | | | | | — | | |
| Benefits Continuation | | | | | | 15,810(2) | | | | | | | 15,810(2) | | | | | | | 23,715(7) | | | | | | | — | | | | | | | — | | | | Benefits Continuation | | | | | | 16,327(2) | | | | | | | 16,327(2) | | | | | | | 24,490(7) | | | | | | | — | | | | | | | — | | | |||||||
| Outplacement Services | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | — | | | | | | | — | | | | Outplacement Services | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | — | | | | | | | — | | | |||||||
| Equity Acceleration | | | | | | —(4) | | | | | | | 9,413,257(5) | | | | | | | 15,489,429(8) | | | | | | | 15,489,429(9) | | | | | | | — | | | | Equity Acceleration | | | | | | —(4) | | | | | | | 17,119,744(5) | | | | | | | 27,876,139(8) | | | | | | | 27,876,139(9) | | | | | | | — | | | |||||||
| Total | | | | | | 4,534,185 | | | | | | | 13,947,442 | | | | | | | 23,031,519 | | | | | | | 15,489,429 | | | | | | | — | | | | Total | | | | | | 4,534,702 | | | | | | | 21,654,446 | | | | | | | 35,419,004 | | | | | | | 27,876,139 | | | | | | | — | | | |||||||
| Wetteny Joseph | | | | Severance Amount | | | | | | 1,330,000(1) | | | | | | | 1,330,000(1) | | | | | | | 2,660,000(6) | | | | | | | — | | | | | | | — | | | Wetteny Joseph | | | | Severance Amount | | | | | | 1,377,500(1) | | | | | | | 1,377,500(1) | | | | | | | 2,755,000(6) | | | | | | | — | | | | | | | — | | |
| Benefits Continuation | | | | | | 25,675(2) | | | | | | | 25,675(2) | | | | | | | 38,512(7) | | | | | | | — | | | | | | | — | | | | Benefits Continuation | | | | | | 27,253(2) | | | | | | | 27,253(2) | | | | | | | 40,879(7) | | | | | | | — | | | | | | | — | | | |||||||
| Outplacement Services | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | — | | | | | | | — | | | | Outplacement Services | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | — | | | | | | | — | | | |||||||
| Equity Acceleration | | | | | | 1,111,622(4) | | | | | | | 2,922,520(5) | | | | | | | 5,190,071(8) | | | | | | | 5,190,071(9) | | | | | | | 1,111,622(10) | | | | Equity Acceleration | | | | | | 1,510,518(4) | | | | | | | 6,546,732(5) | | | | | | | 9,506,224(8) | | | | | | | 9,506,224(9) | | | | | | | 1,510,518(10) | | | |||||||
| Total | | | | | | 2,485,672 | | | | | | | 4,296,570 | | | | | | | 7,906,958 | | | | | | | 5,190,071 | | | | | | | 1,111,622 | | | | Total | | | | | | 2,933,646 | | | | | | | 7,969,860 | | | | | | | 12,320,478 | | | | | | | 9,506,224 | | | | | | | 1,510,518 | | | |||||||
| Heidi C. Chen | | | | Severance | | | | | | 1,045,500(1) | | | | | | | 1,045,500(1) | | | | | | | 2,091,000(6) | | | | | | | — | | | | | | | — | | | Wafaa Mamilli | | | | Severance Amount | | | | | | 1,170,000(1) | | | | | | | 1,170,000(1) | | | | | | | 2,340,000(6) | | | | | | | — | | | | | | | — | | |
| Benefits Continuation | | | | | | 25,497(2) | | | | | | | 25,497(2) | | | | | | | 38,245(7) | | | | | | | — | | | | | | | — | | | | Benefits Continuation | | | | | | 27,439(2) | | | | | | | 27,439(2) | | | | | | | 41,158(7) | | | | | | | — | | | | | | | — | | | |||||||
| Outplacement Services | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | — | | | | | | | — | | | | Outplacement Services | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | — | | | | | | | — | | | |||||||
| Equity Acceleration | | | | | | 1,235,178(4) | | | | | | | 1,430,569(5) | | | | | | | 2,208,480(8) | | | | | | | 2,208,480(9) | | | | | | | 1,235,178(10) | | | | Equity Acceleration | | | | | | —(4) | | | | | | | 1,772,901(5) | | | | | | | 2,948,509(8) | | | | | | | 2,948,509(9) | | | | | | | — | | | |||||||
| Total | | | | | | 2,324,550 | | | | | | | 2,519,941 | | | | | | | 4,356,100 | | | | | | | 2,208,480 | | | | | | | 1,235,178 | | | | Total | | | | | | 1,215,814 | | | | | | | 2,988,715 | | | | | | | 5,348,042 | | | | | | | 2,948,509 | | | | | | | — | | | |||||||
| Wafaa Mamilli | | | | Severance Amount | | | | | | 1,170,000(1) | | | | | | | 1,170,000(1) | | | | | | | 2,340,000(6) | | | | | | | — | | | | | | | — | | | Heidi C. Chen | | | | Severance | | | | | | 1,079,500(1) | | | | | | | 1,079,500(1) | | | | | | | 2,159,000(6) | | | | | | | — | | | | | | | — | | |
| Benefits Continuation | | | | | | 26,257(2) | | | | | | | 26,257(2) | | | | | | | 39,385(7) | | | | | | | — | | | | | | | — | | | | Benefits Continuation | | | | | | 26,587(2) | | | | | | | 26,587(2) | | | | | | | 39,880(7) | | | | | | | — | | | | | | | — | | | |||||||
| Outplacement Services | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | — | | | | | | | — | | | | Outplacement Services | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | — | | | | | | | — | | | |||||||
| Equity Acceleration | | | | | | —(4) | | | | | | | 1,372,812(5) | | | | | | | 1,994,796(8) | | | | | | | 1,994,796(9) | | | | | | | — | | | | Equity Acceleration | | | | | | 1,885,086(4) | | | | | | | 2,455,281(5) | | | | | | | 3,517,645(8) | | | | | | | 3,517,645(9) | | | | | | | 1,885,086(10) | | | |||||||
| Total | | | | | | 1,214,632 | | | | | | | 2,587,444 | | | | | | | 4,392,556 | | | | | | | 1,994,796 | | | | | | | — | | | | Total | | | | | | 3,009,548 | | | | | | | 3,579,743 | | | | | | | 5,734,900 | | | | | | | 3,517,645 | | | | | | | 1,885,086 | | | |||||||
| Robert J. Polzer | | | | Severance Amount | | | | | | 1,035,000(1) | | | | | | | 1,035,000(1) | | | | | | | 2,070,000(6) | | | | | | | — | | | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||
| Benefits Continuation | | | | | | 18,135(2) | | | | | | | 18,135(2) | | | | | | | 27,202(7) | | | | | | | — | | | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||
| Outplacement Services | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | 18,375(3) | | | | | | | — | | | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||
| Equity Acceleration | | | | | | —(4) | | | | | | | 980,573(5) | | | | | | | 2,087,388(8) | | | | | | | 2,087,388(9) | | | | | | | — | | | |||||||||||||||||||||||||||||||||||||||||||||
| Total | | | | | | 1,071,510 | | | | | | | 2,052,083 | | | | | | | 4,202,965 | | | | | | | 2,087,388 | | | | | | | — | | |
| | | | Summary Compensation Table (SCT) Total for CEO(1) ($) | | | | Compensation Actually Paid (CAP) to CEO(1)(2) ($) | | | | Average SCT Total for Other NEOs(1) ($) | | | | Average CAP to Other NEOs(1)(3) ($) | | | | Value of Initial Fixed td00 Investment Based On: | | | | Net Income ($ in millions) | | | | Revenue (Company Selected Measure) ($ in millions) | | | | | Summary Compensation Table (SCT) Total for CEO(1) ($) | | | | Compensation Actually Paid (CAP) to CEO(1)(2) ($) | | | | Average SCT Total for Other NEOs(1) ($) | | | | Average CAP to Other NEOs(1)(2) ($) | | | | Value of Initial Fixed td00 Investment Based On: | | | | Net Income ($ in millions) | | | | Revenue (Company Selected Measure) ($ in millions) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Year | | | | Zoetis TSR ($) | | | | S&P 500 Pharmaceuticals Index TSR ($) | | | Year | | | | Zoetis TSR ($) | | | | S&P 500 Pharmaceuticals Index TSR ($) | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2022 | | | | | | 14,003,540 | | | | | | | (15,709,790) | | | | | | | 2,931,816 | | | | | | | (3,076,052) | | | | | | | 112.80 | | | | | | | 146.65 | | | | | | | 2,114 | | | | | | | 8,080 | | | 2023 | | | | | | 15,237,853 | | | | | | | 26,369,229 | | | | | | | 2,994,932 | | | | | | | 4,592,358 | | | | | | | 153.30 | | | | | | | 147.14 | | | | | | | 2,344 | | | | | | | 8,544 | | |
| 2021 | | | | | | 13,098,491 | | | | | | | 33,519,679 | | | | | | | 4,455,516 | | | | | | | 10,261,897 | | | | | | | 186.46 | | | | | | | 135.22 | | | | | | | 2,037 | | | | | | | 7,776 | | | 2022 | | | | | | 14,003,540 | | | | | | | (15,709,790) | | | | | | | 2,931,816 | | | | | | | (3,076,052) | | | | | | | 112.80 | | | | | | | 146.65 | | | | | | | 2,114 | | | | | | | 8,080 | | |
| 2020 | | | | | | 10,374,312 | | | | | | | 15,564,796 | | | | | | | 3,756,846 | | | | | | | 6,519,899 | | | | | | | 125.76 | | | | | | | 107.52 | | | | | | | 1,638 | | | | | | | 6,675 | | | 2021 | | | | | | 13,098,491 | | | | | | | 33,519,679 | | | | | | | 4,455,516 | | | | | | | 10,261,897 | | | | | | | 186.46 | | | | | | | 135.22 | | | | | | | 2,037 | | | | | | | 7,776 | | |
| 2020 | | | | | | 10,374,312 | | | | | | | 15,564,796 | | | | | | | 3,756,846 | | | | | | | 6,519,899 | | | | | | | 125.76 | | | | | | | 107.52 | | | | | | | 1,638 | | | | | | | 6,675 | | |
| | | | SCT Total | | | | Deductions from SCT Total(i) | | | | Additions to SCT Total(ii) | | | | Compensation Actually Paid | | Year | | | | SCT Total ($) | | | | Deductions from SCT Total(i) | | | | Additions to SCT Total(ii) ($) | | | | Compensation Actually Paid ($) | | |||||||||||||||||||||||||||||||||||||||
| Year | | | | Stock Awards | | | | Options Awards | | | | Stock Awards ($) | | | | Options Awards ($) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2022 | | | | | $ | 14,003,540 | | | | | | ($ | 8,399,841.00) | | | | | | ($ | 2,799,966.00) | | | | | | ($ | 18,513,523) | | | | | | ($ | 15,709,790) | | | 2023 | | | | | | 15,237,853 | | | | | | | (8,774,860) | | | | | | | (2,924,967) | | | | | | | 22,831,203 | | | | | | | 26,369,229 | | |
| 2021 | | | | | $ | 13,098,491 | | | | | | ($ | 6,929,797.00) | | | | | | ($ | 2,309,970.00) | | | | | | $ | 29,660,955 | | | | | | $ | 33,519,679 | | | 2022 | | | | | | 14,003,540 | | | | | | | (8,399,841) | | | | | | | (2,799,966) | | | | | | | (18,513,523) | | | | | | | (15,709,790) | | |
| 2020 | | | | | $ | 10,374,312 | | | | | | ($ | 5,684,840.00) | | | | | | ($ | 1,894,975.00) | | | | | | $ | 12,770,299 | | | | | | $ | 15,564,796 | | | 2021 | | | | | | 13,098,491 | | | | | | | (6,929,797) | | | | | | | (2,309,970) | | | | | | | 29,660,955 | | | | | | | 33,519,679 | | |
| 2020 | | | | | | 10,374,312 | | | | | | | (5,684,840) | | | | | | | (1,894,975) | | | | | | | 12,770,299 | | | | | | | 15,564,796 | | |
| | | | SCT Total | | | | Deductions from SCT Total(i) | | | | Additions to SCT Total(ii) | | | | Compensation Actually Paid | | Year | | | | SCT Total ($) | | | | Deductions from SCT Total(i) | | | | Additions to SCT Total(ii) ($) | | | | Compensation Actually Paid ($) | | |||||||||||||||||||||||||||||||||||||||
| Year | | | | Stock Awards | | | | Options Awards | | | | Stock Awards ($) | | | | Options Awards ($) | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2022 | | | | | $ | 2,931,816 | | | | | | ($ | 1,405,542.25) | | | | | | ($ | 468,570.25) | | | | | | ($ | 4,133,756) | | | | | | ($ | 3,076,052) | | | 2023 | | | | | | 2,994,932 | | | | | | | (1,239,133) | | | | | | | (413,112) | | | | | | | 3,249,671 | | | | | | | 4,592,358 | | |
| 2021 | | | | | $ | 4,455,516 | | | | | | ($ | 2,118,241.80) | | | | | | ($ | 366,105.20) | | | | | | $ | 8,290,727 | | | | | | $ | 10,261,897 | | | 2022 | | | | | | 2,931,816 | | | | | | | (1,405,542) | | | | | | | (468,570) | | | | | | | (4,133,756) | | | | | | | (3,076,052) | | |
| 2020 | | | | | $ | 3,756,846 | | | | | | ($ | 1,302,976.75) | | | | | | ($ | 496,860.25) | | | | | | $ | 4,562,890 | | | | | | $ | 6,519,899 | | | 2021 | | | | | | 4,455,516 | | | | | | | (2,118,241) | | | | | | | (366,105) | | | | | | | 8,290,727 | | | | | | | 10,261,897 | | |
| 2020 | | | | | | 3,756,846 | | | | | | | (1,302,977) | | | | | | | (496,860) | | | | | | | 4,562,890 | | | | | | | 6,519,899 | | |
| Year | | | | Equity Type | | | | Fair Value of Current Year Equity Awards at End of Year | | | | Change in Value of Prior Years’ Awards Unvested at End of Year | | | | Change in Value of Prior Years’ Awards That Vested During the Year | | | | Equity Value Included in CAP | | Year | | | | Equity Type | | | | Fair Value of Current Year Equity Awards at End of Year ($) | | | | Change in Value of Prior Years’ Awards Unvested at End of Year ($) | | | | Change in Value of Prior Years’ Awards That Vested During the Year ($) | | | | Equity Value Included in CAP ($) | | ||||||||||||||||||||||||
| 2022 | | | | Stock Options | | | | | $ | 1,528,648 | | | | | | $ | (7,897,241) | | | | | | $ | (931,398) | | | | | | $ | (7,299,991) | | | 2023 | | | | Stock Options | | | | | | 3,971,133 | | | | | | | 1,923,431 | | | | | | | 372,068 | | | | | | | 6,266,632 | | |
| Restricted Stock Units | | | | | $ | 2,049,978 | | | | | | $ | (2,672,369) | | | | | | $ | (234,149) | | | | | | $ | (856,541) | | | | Restricted Stock Units | | | | | | 3,585,639 | | | | | | | 1,500,387 | | | | | | | 162,461 | | | | | | | 5,248,488 | | | |||||||
| Performance Award Units | | | | | $ | 2,460,116 | | | | | | $ | (12,009,652) | | | | | | $ | (807,455) | | | | | | $ | (10,356,991) | | | | Performance Award Units | | | | | | 8,054,738 | | | | | | | 3,060,551 | | | | | | | 200,795 | | | | | | | 11,316,083 | | | |||||||
| Total | | | | | $ | 6,038,742 | | | | | | $ | (22,579,262) | | | | | | $ | (1,973,002) | | | | | | $ | (18,513,523) | | | | Total | | | | | | 15,611,510 | | | | | | | 6,484,369 | | | | | | | 735,324 | | | | | | | 22,831,203 | | | |||||||
| 2021 | | | | Stock Options | | | | | $ | 5,709,571 | | | | | | $ | 5,052,274 | | | | | | $ | 33,020 | | | | | | $ | 10,794,866 | | | 2022 | | | | Stock Options | | | | | | 1,528,648 | | | | | | | (7,897,241) | | | | | | | (931,398) | | | | | | | (7,299,991) | | |
| Restricted Stock Units | | | | | $ | 3,523,058 | | | | | | $ | 1,469,682 | | | | | | $ | 10,165 | | | | | | $ | 5,002,905 | | | | Restricted Stock Units | | | | | | 2,049,978 | | | | | | | (2,672,369) | | | | | | | (234,149) | | | | | | | (856,541) | | | |||||||
| Performance Award Units | | | | | $ | 8,916,215 | | | | | | $ | 4,932,126 | | | | | | $ | 14,842 | | | | | | $ | 13,863,183 | | | | Performance Award Units | | | | | | 2,460,116 | | | | | | | (12,009,652) | | | | | | | (807,455) | | | | | | | (10,356,991) | | | |||||||
| Total | | | | | $ | 18,148,844 | | | | | | $ | 11,454,083 | | | | | | $ | 58,027 | | | | | | $ | 29,660,955 | | | | Total | | | | | | 6,038,742 | | | | | | | (22,579,262) | | | | | | | (1,973,002) | | | | | | | (18,513,523) | | | |||||||
| 2020 | | | | Stock Options | | | | | $ | 2,309,500 | | | | | | $ | 1,341,931 | | | | | | $ | 385,408 | | | | | | $ | 4,036,839 | | | 2021 | | | | Stock Options | | | | | | 5,709,571 | | | | | | | 5,052,274 | | | | | | | 33,020 | | | | | | | 10,794,866 | | |
| Restricted Stock Units | | | | | $ | 2,186,374 | | | | | | $ | 411,103 | | | | | | $ | 103,798 | | | | | | $ | 2,701,275 | | | | Restricted Stock Units | | | | | | 3,523,058 | | | | | | | 1,469,682 | | | | | | | 10,165 | | | | | | | 5,002,905 | | | |||||||
| Performance Award Units | | | | | $ | 4,749,437 | | | | | | $ | 1,128,981 | | | | | | $ | 153,769 | | | | | | $ | 6,032,186 | | | | Performance Award Units | | | | | | 8,916,215 | | | | | | | 4,932,126 | | | | | | | 14,842 | | | | | | | 13,863,183 | | | |||||||
| Total | | | | | $ | 9,245,311 | | | | | | $ | 2,882,015 | | | | | | $ | 642,974 | | | | | | $ | 12,770,299 | | | | Total | | | | | | 18,148,844 | | | | | | | 11,454,083 | | | | | | | 58,027 | | | | | | | 29,660,955 | | | |||||||
| 2020 | | | | Stock Options | | | | | | 2,309,500 | | | | | | | 1,341,931 | | | | | | | 385,408 | | | | | | | 4,036,839 | | | ||||||||||||||||||||||||||||||||||
| Restricted Stock Units | | | | | | 2,186,374 | | | | | | | 411,103 | | | | | | | 103,798 | | | | | | | 2,701,275 | | | ||||||||||||||||||||||||||||||||||||||
| Performance Award Units | | | | | | 4,749,437 | | | | | | | 1,128,981 | | | | | | | 153,769 | | | | | | | 6,032,186 | | | ||||||||||||||||||||||||||||||||||||||
| Total | | | | | | 9,245,311 | | | | | | | 2,882,015 | | | | | | | 642,974 | | | | | | | 12,770,299 | | |
| | | | Equity Type | | | | Fair Value of Current Year Equity Awards at End of Year | | | | Change in Value of Prior Years’ Awards Unvested at End of Year | | | | Change in Value of Prior Years’ Awards That Vested During the Year | | | | Equity Value Included in CAP | | Year | | | | Equity Type | | | | Fair Value of Current Year Equity Awards at End of Year ($) | | | | Change in Value of Prior Years’ Awards Unvested at End of Year ($) | | | | Change in Value of Prior Years’ Awards That Vested During the Year ($) | | | | Equity Value Included in CAP ($) | | |||||||||||||||||||||||||
| 2022 | | | | Stock Options | | | | | $ | 255,817 | | | | | | $ | (1,352,757) | | | | | | $ | (446,281) | | | | | | $ | (1,543,221) | | | 2023 | | | | Stock Options | | | | | | 560,869 | | | | | | | 169,611 | | | | | | | 46,139 | | | | | | | 776,619 | | |
| Restricted Stock Units | | | | | $ | 343,039 | | | | | | $ | (1,110,941) | | | | | | $ | (112,191) | | | | | | $ | (880,093) | | | | Restricted Stock Units | | | | | | 506,345 | | | | | | | 509,551 | | | | | | | 20,141 | | | | | | | 1,036,037 | | | |||||||
| Performance Award Units | | | | | $ | 411,640 | | | | | | $ | (1,735,180) | | | | | | $ | (386,902) | | | | | | $ | (1,710,442) | | | | Performance Award Units | | | | | | 1,137,439 | | | | | | | 284,615 | | | | | | | 14,962 | | | | | | | 1,437,015 | | | |||||||
| Total | | | | | $ | 1,010,496 | | | | | | $ | (4,198,878) | | | | | | $ | (945,373) | | | | | | $ | (4,133,756) | | | | Total | | | | | | 2,204,652 | | | | | | | 963,777 | | | | | | | 81,242 | | | | | | | 3,249,671 | | | |||||||
| 2021 | | | | Stock Options | | | | | $ | 904,905 | | | | | | $ | 1,796,558 | | | | | | $ | 22,234 | | | | | | $ | 2,723,696 | | | 2022 | | | | Stock Options | | | | | | 255,817 | | | | | | | (1,352,757) | | | | | | | (446,281) | | | | | | | (1,543,221) | | |
| Restricted Stock Units | | | | | $ | 1,897,216 | | | | | | $ | 490,667 | | | | | | $ | 6,844 | | | | | | $ | 2,394,727 | | | | Restricted Stock Units | | | | | | 343,039 | | | | | | | (1,110,941) | | | | | | | (112,191) | | | | | | | (880,093) | | | |||||||
| Performance Award Units | | | | | $ | 1,413,054 | | | | | | $ | 1,749,257 | | | | | | $ | 9,993 | | | | | | $ | 3,172,304 | | | | Performance Award Units | | | | | | 411,640 | | | | | | | (1,735,180) | | | | | | | (386,902) | | | | | | | (1,710,442) | | | |||||||
| Total | | | | | $ | 4,215,175 | | | | | | $ | 4,036,482 | | | | | | $ | 39,071 | | | | | | $ | 8,290,727 | | | | Total | | | | | | 1,010,496 | | | | | | | (4,198,878) | | | | | | | (945,373) | | | | | | | (4,133,756) | | | |||||||
| 2020 | | | | Stock Options | | | | | $ | 605,548 | | | | | | $ | 908,841 | | | | | | $ | 240,880 | | | | | | $ | 1,755,269 | | | 2021 | | | | Stock Options | | | | | | 904,905 | | | | | | | 1,796,558 | | | | | | | 22,234 | | | | | | | 2,723,696 | | |
| Restricted Stock Units | | | | | $ | 573,225 | | | | | | $ | 278,702 | | | | | | $ | 64,872 | | | | | | $ | 916,799 | | | | Restricted Stock Units | | | | | | 1,897,216 | | | | | | | 490,667 | | | | | | | 6,844 | | | | | | | 2,394,727 | | | |||||||
| Performance Award Units | | | | | $ | 1,010,271 | | | | | | $ | 784,446 | | | | | | $ | 96,105 | | | | | | $ | 1,890,822 | | | | Performance Award Units | | | | | | 1,413,054 | | | | | | | 1,749,257 | | | | | | | 9,993 | | | | | | | 3,172,304 | | | |||||||
| Total | | | | | $ | 2,189,044 | | | | | | $ | 1,971,988 | | | | | | $ | 401,857 | | | | | | $ | 4,562,890 | | | | Total | | | | | | 4,215,175 | | | | | | | 4,036,482 | | | | | | | 39,071 | | | | | | | 8,290,727 | | | |||||||
| 2020 | | | | Stock Options | | | | | | 605,548 | | | | | | | 908,841 | | | | | | | 240,880 | | | | | | | 1,755,269 | | | ||||||||||||||||||||||||||||||||||
| Restricted Stock Units | | | | | | 573,225 | | | | | | | 278,702 | | | | | | | 64,872 | | | | | | | 916,799 | | | ||||||||||||||||||||||||||||||||||||||
| Performance Award Units | | | | | | 1,010,271 | | | | | | | 784,446 | | | | | | | 96,105 | | | | | | | 1,890,822 | | | ||||||||||||||||||||||||||||||||||||||
| Total | | | | | | 2,189,044 | | | | | | | 1,971,988 | | | | | | | 401,857 | | | | | | | 4,562,890 | | |
| Most Important Performance Measures | |
| Relative Total Shareholder Return(i) | |
| Revenue(ii) | |
| Adjusted Diluted EPS(ii) | |
| Free Cash Flow(ii) | |
| Plan Category | | | | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights (a) | | | | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights (b) | | | | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a)) (c) | | Plan Category | | | | Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights(1)(3) | | | | Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights(2) | | | | Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a))(3) | | ||||||||||||||||||
| Equity compensation plans approved by security holders | | | | | | 3,039,441(1) | | | | | | $ | 95.32(2) | | | | | | | 14,128,853(3) | | | Equity compensation plans approved by security holders | | | | | | 2,796,299 | | | | | | $ | 119.13 | | | | | | | 13,682,445 | | |
| Equity compensation plans not approved by security holders | | | | | | — | | | | | | | — | | | | | | | — | | | Equity compensation plans not approved by security holders | | | | | | — | | | | | | | — | | | | | | | — | | |
| Total | | | | | | 3,039,441 | | | | | | $ | 95.32 | | | | | | | 14,128,853 | | | Total | | | | | | 2,796,299 | | | | | | $ | 119.13 | | | | | | | 13,682,445 | | |
| Item 3 | | | Ratification of Appointment of KPMG as our Independent Registered Public Accounting Firm for | |
| Item 3 Recommendation: Our Board unanimously recommends that you vote FOR the ratification of the appointment of KPMG as our independent registered public accounting firm for | |
| | | | 2022 | | | | 2021 | | | | | 2023 | | | | 2022 | | ||||||||||||||
| Audit fees | | | | | $ | 11,435,630 | | | | | | $ | 10,604,720 | | | Audit fees | | | | | $ | 11,568,500 | | | | | | $ | 11,435,630 | | |
| Audit-related fees | | | | | | 82,000 | | | | | | | 86,200 | | | Audit-related fees | | | | | | 83,900 | | | | | | | 82,000 | | |
| Tax fees | | | | | | 1,252,301 | | | | �� | | | 1,344,728 | | | Tax fees | | | | | | 1,232,007 | | | | | | | 1,252,301 | | |
| All other fees | | | | | | 103,000 | | | | | | | 56,300 | | | All other fees | | | | | | 100,000 | | | | | | | 103,000 | | |
| Total fees | | | | | $ | 12,872,931 | | | | | | $ | 12,091,948 | | | Total fees | | | | | $ | 12,984,407 | | | | | | $ | 12,872,931 | | |
| Item 4 | | | Approval of an Amendment to our Restated Certificate of Incorporation to | |
| Item 4 Recommendation: Our Board unanimously recommends that you vote FOR the amendment to the Restated Certificate of Incorporation to | |
| Item 5 | | | Shareholder Proposal Regarding | |
| Item 5 Recommendation: Our Board unanimously recommends that you vote AGAINST the shareholder proposal | |
| Name and Address of Beneficial Owner | | | | Number of Shares Owned | | | | Percent of Class (%)(1) | | Name and Address of Beneficial Owner | | | | Number of Shares Owned | | | | Percent of Class (%)(1) | | ||||||||||||
| 5% Beneficial Owners: | | | | | | | | | | | | 5% Beneficial Owners: | | | | | | | | | | | | ||||||||
| BlackRock, Inc.(2) 55 East 52nd Street New York, NY 10055 | | | | | | 40,082,444 | | | | | | | 8.66% | | | BlackRock, Inc.(2) 55 East 52nd Street New York, NY 10055 | | | | | | 36,492,748 | | | | | | | 7.98% | | |
| The Vanguard Group(3) 100 Vanguard Blvd. Malvern, PA 19355 | | | | | | 36,850,763 | | | | | | | 7.96% | | | The Vanguard Group(3) 100 Vanguard Blvd. Malvern, PA 19355 | | | | | | 40,332,692 | | | | | | | 8.82% | | |
| Name of Beneficial Owner | | | | Common Stock(1) | | | | Deferred Stock Units(2) | | | | Vested Options(3) | | | | Total | | Name of Beneficial Owner | | | | Common Stock(1) | | | | Deferred Stock Units(2) | | | | Vested Options(3) | | | | Total | | ||||||||||||||||||||||||
| Directors and Named Executive Officers: | | | | | | | | | | | | | | | | | | | | | | Directors and Named Executive Officers: | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||
| Paul M. Bisaro | | | | | | 18,826 | | | | | | | — | | | | | | | — | | | | | | | 18,826 | | | Paul M. Bisaro | | | | | | 21,782 | | | | | | | — | | | | | | | — | | | | | | | 21,782 | | |
| Vanessa Broadhurst | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | Vanessa Broadhurst | | | | | | 1,016 | | | | | | | — | | | | | | | — | | | | | | | 1,016 | | |
| Frank A. D’Amelio | | | | | | 14,808 | | | | | | | 14,123 | | | | | | | — | | | | | | | 28,931 | | | Frank A. D’Amelio | | | | | | 14,808 | | | | | | | 17,207 | | | | | | | — | | | | | | | 32,015 | | |
| Sanjay Khosla | | | | | | 9,808(4) | | | | | | | 14,123 | | | | | | | — | | | | | | | 23,931 | | | Sanjay Khosla | | | | | | 9,808(4) | | | | | | | 17,207 | | | | | | | — | | | | | | | 27,015 | | |
| Antoinette R. Leatherberry | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | Antoinette R. Leatherberry | | | | | | 2,224 | | | | | | | 1,463 | | | | | | | — | | | | | | | 3,687 | | |
| Michael B. McCallister | | | | | | 23,654(4) | | | | | | | 10,596 | | | | | | | — | | | | | | | 34,250 | | | Michael B. McCallister | | | | | | 25,855(4) | | | | | | | 10,691 | | | | | | | — | | | | | | | 36,546 | | |
| Gregory Norden | | | | | | 12,827(4) | | | | | | | 10,596 | | | | | | | — | | | | | | | 23,423 | | | Gregory Norden | | | | | | 15,111(4) | | | | | | | 10,691 | | | | | | | — | | | | | | | 25,802 | | |
| Louise M. Parent | | | | | | 11,902 | | | | | | | 9,802 | | | | | | | — | | | | | | | 21,704 | | | Louise M. Parent | | | | | | 13,735 | | | | | | | 9,890 | | | | | | | — | | | | | | | 23,625 | | |
| Willie M. Reed | | | | | | 8,408 | | | | | | | 4,820 | | | | | | | — | | | | | | | 13,228 | | | Willie M. Reed | | | | | | 9,994 | | | | | | | 4,864 | | | | | | | — | | | | | | | 14,858 | | |
| Linda Rhodes | | | | | | 6,987 | | | | | | | — | | | | | | | — | | | | | | | 6,987 | | | Linda Rhodes | | | | | | 9,292 | | | | | | | — | | | | | | | — | | | | | | | 9,292 | | |
| Robert W. Scully | | | | | | 18,179(4) | | | | | | | 14,123 | | | | | | | — | | | | | | | 32,302 | | | Robert W. Scully | | | | | | 19,672(4) | | | | | | | 15,713 | | | | | | | — | | | | | | | 35,385 | | |
| Kristin C. Peck | | | | | | 57,639 | | | | | | | — | | | | | | | 206,185 | | | | | | | 263,824 | | | Kristin C. Peck | | | | | | 80,160 | | | | | | | — | | | | | | | 237,646 | | | | | | | 317,806 | | |
| Wetteny Joseph | | | | | | — | | | | | | | — | | | | | | | — | | | | | | | — | | | Wetteny Joseph | | | | | | 883 | | | | | | | — | | | | | | | 5,070 | | | | | | | 5,953 | | |
| Glenn C. David(5) | | | | | | 48,928 | | | | | | | — | | | | | | | — | | | | | | | 48,928 | | | Heidi C. Chen | | | | | | 31,293 | | | | | | | — | | | | | | | 35,872 | | | | | | | 67,165 | | |
| Heidi C. Chen | | | | | | 37,322 | | | | | | | — | | | | | | | 24,502 | | | | | | | 61,824 | | | Wafaa Mamilli | | | | | | 6,685 | | | | | | | — | | | | | | | 25,775 | | | | | | | 32,460 | | |
| Wafaa Mamilli | | | | | | 3,770 | | | | | | | — | | | | | | | 16,951 | | | | | | | 20,721 | | | Robert Polzer | | | | | | 4,298 | | | | | | | — | | | | | | | 3,477 | | | | | | | 7,775 | | |
| Directors and current executive officers as a group (21 persons)(6) | | | | | | 309,330 | | | | | | | 78,184 | | | | | | | 285,186 | | | | | | | 672,701 | | | Directors and current executive officers as a group (22 persons)(5) | | | | | | 292,131 | | | | | | | 87,725 | | | | | | | 344,214 | | | | | | | 724,070 | | |
| | | By telephone | | | | By calling 1 (800) 690-6903 (toll free) | | | | 24 hours a day until 11:59 p.m., Eastern Daylight Time, on May | | |
| | | By internet | | | | Online at www.proxyvote.com | | | | 24 hours a day until 11:59 p.m., Eastern Daylight Time, on May | | |
| | | By mail | | | | By returning a properly completed, signed and dated proxy card | | | | Allow sufficient time for us to receive your proxy card before the date of the meeting | |
| Item | | | | Vote Required | | | | Effect of Abstentions and Broker Non-Votes* | |
| 1 — Election of Directors | | | | Majority of the votes cast (i.e., more votes “For” than “Against”) | | | | Not considered as votes cast and have no effect on the outcome | |
| 2 — Advisory Vote to Approve Our Executive Compensation (“Say on Pay”) | | | | Majority of the votes cast | | | | Not considered as votes cast and have no effect on the outcome | |
| 3 — Ratification of Appointment of KPMG LLP as our Independent Registered Public Accounting Firm for 2023 | | | | Majority of the votes cast | | | | May be considered as votes cast | |
| 4 — Approval of an Amendment to our Restated Certificate of Incorporation | | | | Majority of the outstanding shares entitled to vote | | | | Has the same effect of votes cast “AGAINST” this proposal | |
| 5 — Shareholder Proposal Regarding | | | | Majority of the votes cast | | | | Not considered as votes cast and have no effect on the outcome | |