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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.
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 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.
For example, approximately 120,000 employees participate in an annual bonus program, more than 5,000 executives receive equity incentives, and approximately 1,000 senior executives participate in our long-term performance award (LTPA) program.
Why the Board recommends holding future say-on-pay votes EVERY YEAR.
We have engaged shareowners on this issue and, based on their feedback, we believe that a significant portion of our investors would prefer an annual say-on-pay vote.
Immelt’s alignment with shareowners, he has purchased approximately 1.2 million shares in the open market since he became CEO in 2001.
Also, since he became CEO, he has not sold any of the shares he has acquired through exercising stock options or the vesting of RSUs or PSUs (except those withheld to pay option exercise prices and taxes on such awards).
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%.