Neiman Marcus 2013 Annual Report Download - page 85
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Table of Contents
The Parent Board sets the compensation for each director who is not an officer of or otherwise employed by us (a “non-executive director”). Non-
executive directors who are employed by Ares or CPPIB do not receive compensation for their services as directors. Ms. Aufreiter and Messrs. Axelrod,
Bourguignon, Brotman and Gundotra are not employed by Ares or CPPIB and are the only directors who earned compensation for services as a director for
fiscal year 2014. Pursuant to board service agreements entered into between Parent and each of the non-executive officers, each non-executive director will
receive an annual fee of $50,000 for their service as a director on the Parent board. Such fee will be prorated for the actual number of days served in any
quarter and is paid in arrears following the end of each quarter. The non-executive directors will also be reimbursed for any out-of-pocket expenses. Actual
fees earned in fiscal year 2014 are set forth in the Summary Compensation table below. Mr. Axelrod became a director on the effective date of the
Acquisition. Ms. Aufreiter was elected to the Parent Board on January 29, 2014, and Messrs. Bourguignon, Brotman and Gundotra were elected on April 30,
2014. Also, each non-executive director received 393 time-vested stock options and 393 performance-vested stock options to purchase Class A Common
Stock and Class B Common Stock at an aggregate exercise price of $1,000 per share of Class A Common Stock and Class B Common Stock. The stock
options were granted under Parent’s Management Equity Incentive Plan on the same terms and conditions as the named executive officers.
Nora Aufreiter
25,549
320,248
345,797
Norman Axelrod
38,736
320,248
358,984
Philippe Bourguignon
13,049
320,248
333,297
Adam Brotman
13,049
320,248
333,297
Vic Gundotra
13,049
320,248
333,297
(1) The amounts reflect the aggregate grant date fair value for the awards computed in accordance with ASC Topic 718. Assumptions used in calculating
the fiscal year 2014 amounts are described under the caption Stock-Based Compensation in Note 12 of the Notes to Consolidated Financial Statements.
These amounts reflect the grant date fair value and do not represent the actual value that may be realized by the named executive officers.
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