Pizza Hut 2014 Annual Report Download - page 54

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15MAR201511093851
Key Executive Compensation and Governance Practices
We employ compensation and governance best practices that provide a foundation for our pay-for-performance program and align
Company and shareholder interests.
Independent compensation committee (Management Employment agreements
Planning & Development Committee), which oversees the
Company’s compensation policies and strategic direction
Re-pricing of SARs/Options
Directly link Company performance to pay outcomes
Executive ownership guidelines reviewed annually against Grants of SARs/Options with exercise price less than FMV
Company guidelines of common stock on date of grant
Broad Board discretion to ‘‘clawback’’ compensation if
executive’s conduct results in significant financial or Permit executives to hedge or pledge Company stock
reputational harm to Company
Make a substantial portion of NEO target pay ‘‘at risk’’ Payment of dividends or dividend equivalents on PSUs
unless or until they vest
Double-trigger vesting of equity awards upon change in
control
Excise tax gross-ups upon change in control
Utilize independent Compensation Consultant
Incorporate comprehensive risk mitigation into plan design
Periodic review of Executive Peer Group to align
appropriately with Company size
Limit perquisites
Evaluate CEO and executive succession plans
Conduct annual shareholder engagement program to
obtain feedback from shareholders and consider in annual
compensation program design
32 YUM! BRANDS, INC. 2015 Proxy Statement
We Do We Don’t Do
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EXECUTIVE COMPENSATION
Proxy Statement