Kroger 2014 Annual Report Download - page 49
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Name
Involuntary
Termination
Voluntary
Termination/
Retirement Death Disability
Change in
Control
without
Termination
Change in
Control with
Termination
Michael J. Donnelly
AccruedandBankedVacation ............. $216,716 $ 216,716 $ 216,716 $ 216,716 $ 216,716 $ 216,716
Severance............................. — — — — — $ 2,095,800
AdditionalVacationandBonus ............ — — — — — $ 38,457
ContinuedHealthandWelfareBenefits(1) ... — — — — — $ 51,566
StockOptions(2) ....................... — — $ 2,765,214 $ 2,765,214 $ 2,765,214 $ 2,765,214
RestrictedStock(3) ..................... — — $ 3,057,879 $ 3,057,879 $ 3,057,879 $ 3,057,879
PerformanceUnits(4) ................... — $ 350,130 $ 350,130 $ 350,130 $ 477,826 $ 477,826
Long-TermCashBonus(5) ................ — $ 438,685 $ 438,685 $ 438,685 $ 597,030 $ 597,030
ExecutiveGroupLifeInsurance ........... — — $ 2,601,600 — — —
David B. Dillon(6)
AccruedandBankedVacation ............. — $ 790,380 $ 790,380 $ 790,380 $ 790,380 $ 790,380
Severance............................. — — — — — $ 4,773,240
AdditionalVacationandBonus ............ — — — — — $ 97,891
ContinuedHealthandWelfareBenefits(1) ... — — — — — $ 175,898
StockOptions(2) ....................... — — $26,143,600 $ 26,143,600 $ 26,143,600 $ 26,143,600
RestrictedStock(3) ..................... — — $18,063,412 $ 18,063,412 $ 18,063,412 $ 18,063,412
PerformanceUnits(4) ................... — $2,168,124 $ 2,168,124 $ 2,168,124 $ 3,871,806 $ 3,871,806
Long-TermCashBonus(5) ................ — $ 611,950 $ 611,950 $ 611,950 $ 1,350,000 $ 1,350,000
ExecutiveGroupLifeInsurance ........... — — $ 4,745,000 — — —
(1) RepresentstheaggregatepresentvalueofcontinuedparticipationintheCompany’smedical,dentaland
executivetermlifeinsuranceplans,basedonthepremiumspaidbytheCompanyduringtheeligible
period.Theeligibleperiodforcontinuedmedicalanddentalbenefitsisbasedonthelengthofservice
andis17 monthsforMs.Barclayand24monthsfortheothernamedexecutiveofficers.Theeligible
period for continued executive term life insurance coverage is six months for all named executive
officers.Theamountsreportedmayultimatelybeloweriftheexecutiveisnolongereligibletoreceive
benefits,whichcouldoccuruponobtainingotheremploymentandbecomingeligibleforsubstantially
equivalentbenefitsthroughthenewemployer.
(2) Amountsreportedinthedeath,disabilityandchangeincontrolcolumnsrepresenttheintrinsicvalueof
theacceleratedvestingofunvestedstockoptions,calculatedasthedifferencebetweentheexerciseprice
ofthestockoptionandtheclosingpriceperKrogercommonshareonJanuary30,2015.Inaccordance
withSECrules,noamountisreportedinthevoluntarytermination/retirementcolumnbecausevestingis
notaccelerated,buttheawardsmaycontinuetovestontheoriginalscheduleiftheconditionsdescribed
abovearemet.
(3) Amountsreportedinthedeath,disabilityandchangeincontrolcolumnsrepresenttheaggregatevalue
oftheacceleratedvestingofrestrictedstock.InaccordancewithSECrules,noamountisreportedin
thevoluntarytermination/retirementcolumn becausevestingisnotaccelerated,buttheawardsmay
continuetovestontheoriginalscheduleiftheconditionsdescribedabovearemet.
(4) Amountsreportedinthevoluntarytermination/retirement,death,anddisabilitycolumnsrepresentthe
aggregate valueoftheperformanceunits granted in2013and 2014,basedontheprobableoutcome
oftheperformanceconditionsasofJanuary31,2015andproratedfortheportionoftheperformance
period completed. Amounts reported in the change in control column represent the aggregate value of
50%ofthemaximumnumberofperformanceunitsgrantedin2013and2014atthebeginningofthe
performance period.