Pizza Hut 2014 Annual Report Download - page 46

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15MAR201511093851
Why does the Company oppose the proposal?
.................................................................................................................................................................................................................................................................................................................................................................................
In short, the Board believes that the Company’s current the Proponent’s proposal could potentially impact our ability
executive compensation program and employment of to deliver maximum value to our shareholders during a most
double-trigger accelerated vesting of all unvested awards is critical time.
appropriate and effective by aligning the interests of our For the reasons above, the Board of Directors recommends
executives and our shareholders and maintaining our ability you vote AGAINST this proposal.
to compete for and retain talented executives. Adoption of
What vote is required to approve this proposal?
.................................................................................................................................................................................................................................................................................................................................................................................
Approval of this proposal requires the affirmative vote of a majority of the shares present in person or represented by proxy and
entitled to vote at the Annual Meeting.
What is the recommendation of the Board of Directors?
.................................................................................................................................................................................................................................................................................................................................................................................
The Board of Directors recommends that you vote AGAINST this proposal.
24 YUM! BRANDS, INC. 2015 Proxy Statement
MATTERS REQUIRING SHAREHOLDER ACTION
Proxy Statement