Eli Lilly 2008 Annual Report Download - page 106

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PROXY STATEMENT
104104
1 The vesting date of each option is listed in the table below by expiration date. Mr. Taurel’s options all vested upon
his retirement and they will expire on the earlier of the expiration date listed below or December 31, 2013:
Expiration Date Vesting Date Expiration Date Vesting Date
04/29/2016 05/01/2009 02/17/2012 02/18/2005
02/09/2016 02/10/2009 10/04/2011 10/03/2003
02/10/2015 02/11/2008 02/18/2011 02/20/2004
02/14/2014 02/19/2007 12/17/2010 12/18/2003
02/15/2013 02/17/2006 10/16/2009 10/18/2002
2 These two columns show performance award shares paid in restricted shares or share units with a holding period
of one year. This award paid out in 2008 for 2007 performance. The restricted stock shares pay dividends during
the restriction period, but the dividends are not preferential.
3 Shares granted under the company’s Shareholder Value Award plan that will vest December 31, 2010. The number
of shares reported in the table refl ects the target payout amount, which will be made if the average stock price in
November and December 2010 is between $62.00 and $65.99. Actual payouts may vary from zero to 140 percent
of target. Had the performance period ended at year end 2008, the payout would have been zero percent of target.
Mr. Taurel will receive one third of his payout amount, refl ecting his retirement after the fi rst year of the three-
year performance period.
4 Shares granted under the company’s Shareholder Value Award plan that will vest December 31, 2009. The number
of shares reported in the table refl ects the target payout amount, which will be made if the average stock price in
November and December 2009 is between $63.00 and $66.99. Actual payouts may vary from zero to 140 percent
of target. Had the performance period ended at year end 2008, the payout would have been zero percent of target.
Mr. Taurel will receive two thirds of his payout amount, refl ecting his retirement after the second year of the
three-year performance period.
5 Share units granted under the company’s Performance Award plan paid out in January 2009 for 2008 perfor-
mance. These shares will vest in February 2010. Mr. Taurel’s shares vested upon his retirement.
6 Shares granted under the company’s Performance Award plan paid out in January 2008 for 2007 performance.
These shares vested in February 2009.
7 Mr. Taurel transferred 348,683 shares of this option to a trust for the benefi t of his children, and these shares
vested on April 30, 2002. 149,172 shares of this option are held in trust for the benefi t of Mr. Taurel’s children, and
the remainder have been transferred back to Mr. Taurel.
8 Dr. Lechleiter transferred 118,683 shares of this option to a trust for the benefi t of his children, and these shares
vested on April 30, 2002. 50,734 shares of this option are held in trust for the benefi t of Dr. Lechleiter’s children,
and the remainder have been transferred back to Dr. Lechleiter.
9 These shares will vest on December 20, 2010.
10 These options were granted outside of the normal annual cycle and vest in three installments, as follows: 25 per-
cent on December 19, 2005; 25 percent on December 18, 2008; and 50 percent on November 2, 2009.
Options Exercised and Stock Vested in 2008
Name
Option Awards Stock Awards 2
Number of Shares Acquired
on Exercise (#)
Value Realized on Exercise
($) 1
Number of Shares Acquired
on Vesting (#)
Value Realized on Vesting
($)
Mr. Taurel 0 $0 100,000
96,120
$3,967,000
$4,952,102
Dr. Lechleiter 0 $0 62,478 $3,218,867
Dr. Paul 0 $0 32,040 $1,650,701
Mr. Carmine 0 $0 9,796 $994,098
Mr. Rice 0 $0 0 $0
Mr. Armitage 0 $0 24,030 $1,238,026
1
Amounts refl ect the difference between the exercise price of the option and the market price at the time of exercise.
2 Amounts refl ect the market value of the stock on the day the stock vested. These shares represent performance
awards issued in January 2007 for company performance in 2006, which were subject to forfeiture for one year