Pizza Hut 2015 Annual Report Download - page 81
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YUM! BRANDS, INC.-2016Proxy Statement 67
Proxy Statement
EXECUTIVE COMPENSATION
Option Exercises and Stock Vested
The table below shows the number of shares of YUM common stock acquired during 2015 upon exercise of stock option
and SAR awards and vesting of stock awards in the form of RSUs and PSUs, each including accumulated dividends and
before payment of applicable withholding taxes and broker commissions. There was no payout with respect to the 2012
PSU awards for the 2012-2014 performance cycle because the average earnings per share during the performance cycle
did not reach the required minimum average growth threshold. Therefore, there is nothing to report for the NEOs in
columns(d) and (e) for PSUs.
Name
Option/SAR Awards Stock Awards
Number
of Shares
Acquired on
Exercise
(#)
Value
Realized on
Exercise
($)
Number
of Shares
Acquired on
Vesting
(#)
Value
realized on
Vesting
($)
(a) (b) (c) (d) (e)
Creed — — — —
Grismer — — 16,118(1) 1,191,604
Novak — — — —
Pant 63,282 5,062,676 — —
Niccol — — 16,512(1) 1,220,732
Su 147,170 9,299,137 — —
(1) For each of Messrs. Grismer and Niccol this amount represents the deferral of the 2012 cash incentive award, which was deferred into RSUs under the EID program
in 2013 and vested in 2015.
Pension Benefits
The table below shows the present value of accumulated benefits payable to each of the NEOs, including the number
of years of service credited to each NEO, under the YUM! Brands Retirement Plan (“Retirement Plan”), and the YUM!
Brands International Retirement Plan (“YIRP”) determined using interest rate and mortality rate assumptions consistent
with those used in the Company’s financial statements.
2015 FISCAL YEAR PENSION BENEFITS TABLE
Name Plan Name
Number of Years of
Credited Service
(#)
Present Value of
Accumulated Benefit(4)
($)
Payments During
Last Fiscal Year
($)
(a) (b) (c) (d) (e)
Creed(i) Retirement Plan(1) 2 157,033 —
Grismer(ii) — — — —
Novak Retirement Plan(1) 29 1,578,656 —
Pant(ii) —— — —
Niccol(ii) — — — —
Su International Retirement Plan(2) 26 20,135,280 —
(i) Mr.Creed is not an active participant in the Retirement Plan but maintains a balance in the Retirement Plan for the two years (2002 and 2003) during
which he was a participant in the plan. As discussed at page 55, Mr.Creed participates in the Third Country National plan, an unfunded, unsecured deferred
account-based retirement plan.
(ii) Messrs. Grismer, Pant, and Niccol are not accruing benefits under these plans because each was hired after September 30, 2001 and is therefore ineligible
for these benefits. As discussed at page 55, they each participate in the LRP.