Pizza Hut 2014 Annual Report Download - page 60
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15MAR201511093851
Bonus Targets
Based on the Committee’s review, the following actions were taken regarding bonus targets for 2014:
Novak 160% No change No change since existing total target cash compensation is at our target
philosophy
Grismer 100% No change No change since existing annual incentive target opportunity is at our target
philosophy
Su 115% No change No change since existing annual incentive target opportunity is above our
target philosophy
Creed 100% No change No change since existing annual incentive target opportunity is above our
target philosophy
Bergren 100% Increase from 85% Adjustment aligns annual incentive target opportunity with our target
philosophy
Team Performance A leverage formula for each team performance measure
magnifies the potential impact that performance above or
The Committee established team performance measures, below the performance target will have on the calculation of
targets and weights in January 2014 after receiving input annual bonus. This leverage increases the payouts when
and recommendations from management. The objectives targets are exceeded and reduces payouts when
were also reviewed by the Board to ensure the goals performance is below target. There is a threshold level of
support the Company’s overall strategic objectives. performance for all measures that must be met in order for
The performance objectives were developed through the any bonus to be paid. Additionally, all measures have a cap
Company’s annual financial planning process, which takes into on the level of performance over which no additional bonus
account division growth strategies, historical performance, and will be paid regardless of performance above the cap.
the expected future operating environment. These projections The performance targets are comparable to those we
include profit growth to achieve our EPS growth target. disclose to our investors and, when determined to be
When setting targets for each specific team performance appropriate by our Committee, may be slightly above or below
measure, the Company takes into account overall business disclosed guidance. Division targets may be adjusted during
goals and structures the target to motivate achievement of the year when doing so is consistent with the objectives and
desired performance consistent with our EPS growth intent at the time the targets were originally set.
commitment to shareholders.
38 YUM! BRANDS, INC. 2015 Proxy Statement
2014 Target
NEO Bonus Percentage Action Reason
EXECUTIVE COMPENSATION
Proxy Statement