Pizza Hut 2015 Annual Report Download - page 88

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YUM! BRANDS, INC.-2016Proxy Statement74
Proxy Statement
EXECUTIVE COMPENSATION
•
All RSUs under the Company’s EID Program held by the
executive will automatically vest.
•
All PSU awards under the Company’s Performance Share
Plan awarded in the year in which the change in control
occurs will be paid out at target assuming a target level
performance had been achieved for the entire performance
period, subject to a pro rata reduction to reflect the portion
of the performance period after the change in control. All
PSUs awarded for performance periods that began before
the year in which the change in control occurs will be
paid out assuming performance achieved for the
performance period was at the greater of target level
performance or projected level of performance at the time
of the change in control, subject to pro rata reduction to
reflect the portion of the performance period after the
change in control. In all cases, executives must be
employed with the Company on the date of the change
in control and involuntarily terminated upon or following
the change in control and during the performance period.
See Company’s CD&A on page39 for more detail.
If a change in control and each NEO’s involuntary termination had occurred as of December31, 2015, the following
payments or other benefits would have been made or become available.
Creed
$
Grismer
$
Novak
$
Pant
$
Niccol
$
Severance Payment 5,500,000 3,280,000 4,000,000 3,906,875 2,739,260
Annual Incentive 1,650,000 840,000 1,000,000 1,003,438 669,630
Accelerated Vesting of Stock
Options and SARs 957,743 1,073,957 3,202,648 2,692,655 455,067
Accelerated Vesting of RSUs — — —— —
Acceleration of PSU
Performance/Vesting 592,442 391,229 1,629,718 369,464 83,643
Outplacement 25,000 25,000 25,000 25,000 25,000
TOTAL 8,725,185 5,610,186 9,857,366 7,997,432 3,972,600
If a change in control without an involuntary termination had occurred as of December 31, 2015, the following benefits would
have become available.
Creed
$
Grismer
$
Novak
$
Pant
$
Niccol
$
Accelerated Vesting of Stock
Options and SARs 178,132 71,256 812,199 2,073,350 71,256
Accelerated Vesting of RSUs — — —— —
Acceleration of PSU Performance/
Vesting — — —— —
TOTAL 178,132 71,256 812,199 2,073,350 71,256