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For example, all of our long-term performance award programs have paid out at less than 105% of target performance, ranging between 71% and 104%.The Compensation Committee strives to provide an appropriate mix of compensation elements, including finding a balance between current and long-term compensation and between cash and equity incentive compensation.The remaining PSUs from the 2014 grant were forfeited because of the negative adjustment from the TSR modifier. Immelt as we did not start granting PSUs to the full senior leadership team until 2015.) CHAIRMAN & CEO Age: 61 Education: Dartmouth; MBA, Harvard GE tenure: 35 years PERFORMANCE. Immelt plays a critical role in delivering on the performance framework for the company’s annual bonus program and, as such, his performance goals were the same as the financial and strategic goals used to fund the 2016 bonus pool (see “2016 Annual Bonuses” above). Immelt performed well in a challenging environment. In light of his performance, the Compensation Committee awarded Mr.

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We strive to pay fair and competitive wages to all of our employees, considering the specific job markets and peer compensation.

Our compensation program provides the greatest pay opportunity for named executives who demonstrate superior performance for sustained periods of time.

The Compensation Committee assessed GE’s performance on its strategic goals at 95% instead of 100% because, although the company overall had a good year, GE missed some of its key investor goals (organic revenue growth and margin expansion) and some key businesses, including Power, Oil & Gas and Energy Connections, experienced challenging business environments. We pay cash bonuses to our named executives each February or March for the prior year under a program designed to closely align incentive compensation and annual company results.

Here’s how the plan works: 2013 PSUs PAY OUT AT 100% AND 2014 PSUs PAY OUT AT 83%. Immelt earned 100% of the PSUs granted to him in 2013 and 83% of the PSUs granted to him in 2014.

Our compensation programs are balanced and focused on the long term so that our named executives can achieve the highest compensation through consistent superior performance over sustained periods of time.

In addition, large amounts of compensation are usually deferred or realizable only upon retirement, providing strong incentives to manage for the long term while avoiding excessive risk-taking in the short term.See “Long-Term Performance Awards (LTPAs)” below for information on our 2016–2018 LTPAs. We granted bonuses to our named executives under a recently redesigned, more formulaic bonus program.The size of the bonus pool was contingent on the achievement of specified financial and strategic performance metrics as shown below. Although the Compensation Committee had the authority under the terms of the bonus program to adjust the financial performance metrics, it did not make any such adjustments for 2016 (i.e., they were calculated the same way GE reported them for financial reporting purposes).Over the past five years, GE’s earnings have ranked 10–16th in the S&P 500, while Mr.Immelt’s compensation has ranked 21st–169th among S&P 500 CEOs.** As an indication of Mr.This section provides an overview of how GE performed against the goals established under its 2016 annual bonus program and the 2013–2016 PSUs and 2014–2016 PSUs.

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