ManpowerGroup 2014 Annual Report Download - page 70

Download and view the complete annual report

Please find page 70 of the 2014 ManpowerGroup annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 98

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98

68
Notes to Consolidated Financial Statements
In the event the performance criteria exceeds the target performance level, an additional number of shares, up to the
Outstanding Award level, may be granted. In the event the performance criteria falls below the target performance level, a
reduced number of shares, as low as the Threshold Award level, may be granted. If the performance criteria falls below the
threshold performance level, no shares will be granted.
A summary of the performance share units detail by grant year is as follows:
2012
July 2012 and
February 2013 2013
(a)
2014
(b)
Grant Date(s) February 15,
2012
July 1, 2012 and
February 14,
2013
February 14,
2013
February 11,
2014 and
May 1, 2014
Performance Period (Years) 2012 2012–2014 2013 2014–2016
Vesting Date(s) 50% on
December 31,
2013 and 2014
50% on
July 1,
2015 and 2016
50% on
December 31,
2014 and 2015
100% on
December 31,
2016
Payout Levels (in units):
Threshold Award 84,480 66,949 76,120 94,608
Target Award 168,960 133,898 152,240 189,215
Outstanding Award 337,920 267,796 304,480 378,430
Units Forfeited in 2014
(at Target Award level) — — — —
Shares Issued in 2014 72,843 — 101,239 —
Shares Subject to Holding Period
as of December 31, 2014 — — 108,853 —
% of the Target Performance Level
based on the Current/Expected
Average Operating Profit Margin
over the Performance Period 96% 0% 140% 200%
(a) Included in these figures are 7,612 of performance share units that were granted on February 14, 2013 with a separate performance
period, performance criteria and vesting date. The performance period is 2013 through 2015, with a vesting date of July 1, 2016. The
award’s current performance level is at Target.
(b) Included in these figures are 3,046 of performance share units that were granted on October 29, 2014 with a separate performance
period, performance criteria and vesting date. The performance period is June 1, 2015 through December 31, 2016, with a vesting date
of October 29, 2017. The award’s current performance level is at Target.
We recognize and adjust compensation expense based on the likelihood of the performance criteria specified in the award
being achieved. The compensation expense is recognized over the performance and holding periods and is recorded in
selling and administrative expenses. We have recognized total compensation expense of $20.1, $13.1 and $9.6 in 2014,
2013 and 2012, respectively, related to the performance share units.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
in millions, except share and per share data