Priceline 2010 Annual Report Download - page 38

36
Compensation of Named Executive Officers
Summary Compensation Table
The following table shows compensation earned during 2010, 2009 and 2008, except for Mr. Finnegan,
as noted below, by our Chief Executive Officer, Chief Financial Officer and the next three most highly-
compensated executive officers serving at the end of 2010. These individuals are referred to as the “named
executive officers.” Mr. Finnegan’s information is for 2010 and 2009 only, in accordance with applicable SEC
rules, since he first became a named executive officer as of the beginning of 2009. Unless otherwise indicated,
titles shown in the table are titles held as of December 31, 2010.
Summary Compensation Table
Name and Principal
Position Year
Salary
($)
Bonus
($)
Stock
Awards
($)(5)
Option
Awards
($)
Non-Equity
Incentive Plan
Compensation
($)
All Other
Compensatio
n
($) Total ($)
Jeffery H. Boyd, President
and Chief Executive
Officer .......................................
2010
2009
2008
550,000
550,000
550,000
-
-
-
2,925,111
1,422,289
4,160,645
-
-
-
4,000,000
2,300,000
2,000,000
(6) 7,674
7,674
13,049
(7)
7,482,785
4,279,963
6,723,694
Daniel J. Finnegan,
Chief Financial Officer(1) ...........
2010
2009
315,000
315,000
-
-
1,200,088
749,966
-
-
725,000
575,000
(6)
7,674
7,674
(
7
)
2,247,762
1,647,640
Robert J. Mylod Jr.,
Vice Chairman and Head of
Worldwide Strategy &
Planning(2) ................................
2010
2009
2008
420,000
420,000
420,000
-
-
-
2,875,117
989,387
2,894,322
-
-
-
2,500,000
1,500,000
1,200,000
(6) 7,674
7,674
7,224
(7)
5,802,791
2,917,061
4,521,546
Kees Koolen,
Chief Executive Officer,
Booking.com B.V.(3) ..................
2010
2009
2008
319,531
337,214
292,336
26,359
25,780
21,508
(4)
2,852,479
1,399,926
5,465,783
-
-
-
2,920,020
1,393,450
1,102,898
(6)
16,085
16,901
15,341
(
7
)
6,134,474
3,173,271
6,897,866
Peter J. Millones, General
Counsel, Corporate Secretary
and Executive Vice President ......
2010
2009
2008
330,000
330,000
320,000
-
-
-
1,200,088
749,966
1,175,905
-
-
-
800,000
625,000
550,000
(6)
7,674
7,674
7,224
(
7
)
2,337,762
1,712,640
2,053,129
(1) Mr. Finnegan was named Chief Financial Officer of priceline.com effective January 1, 2009.
(2) Mr. Mylod retired from the Company effective March 31, 2011.
(3) Mr. Koolen was named Chief Executive Officer of Booking.com B.V. effective September 1, 2008. Mr.
Koolen’s compensation is translated into U.S. Dollars using an average exchange rate for 2010 of 1.32728
U.S. Dollars to Euros.
(4) For Mr. Koolen includes a statutory bonus required under Dutch law of $25,562 for 2010, as well as an
annual “holiday” bonus paid to all employees of Booking.com B.V. of $664 and an anniversary bonus of
$133 for 2010.
(5) Represents the aggregate grant date fair value of performance share units (“PSUs”) in 2010 and 2008, and
restricted stock units (“RSUs”) in 2009, in each case, computed in accordance with FASB ASC Topic 718.
For 2010, the amount reflects 1 times the "target" amount, as of the grant date, for the 2010 performance
awards. The maximum number of shares that could be issued under this grant to Messrs. Boyd, Mylod and
Koolen is 3 times the "target" amount, which would result in a value of $8,775,334, $8,625,352 and
$8,557,436, respectively, based upon the stock price at the date of grant. The maximum number of shares
that could be issued under this grant to Messrs. Finnegan and Millones is 2 times the "target" amount, which
would result in a value of $2,400,176 for each, based upon the stock price at the date of grant. The number
of shares that Messrs. Boyd and Mylod will receive in connection with the 2009 RSU awards, if any, will be
based on the Company’s stock price determined during the six month period preceding the March 2012
vesting date, and, subject to certain exceptions, is dependent upon the executive being employed by the
Company at that time. The value of the Company’s stock on the date of grant was $82.65 per share. The
fair value of these 2009 RSUs at grant date was determined to be $51.11 per share since the RSUs were