Western Union 2014 Annual Report Download - page 74

Compensation Discussion and Analysis PROXY STATEMENT
The Western Union Company – Proxy Statement | 56
NOTICE OF 2015 ANNUAL MEETING OF STOCKHOLDERS AND PROXY STATEMENT
J. David Thompson
Executive Vice President, Global Operations and
Chief Information Officer
In February 2014, the Compensation Committee set
Mr. Thompson’s 2014 compensation levels, including
his annual and long-term incentive award targets, as
discussed below.
• Base Salary. For 2014, no changes were made to
Mr. Thompson’s annual base salary. Accordingly,
Mr. Thompson’s annual base salary remained at
$500,000.
• Annual Incentive Plan Target and Payout Level. For 2014,
no changes were made to Mr. Thompson’s Annual
IncentivePlantargetof$450,000.Themaximum
Annual Incentive Plan award that Mr. Thompson could
have earned during 2014 was 150% of Mr. Thompson’s
target,or$675,000,ascomparedtoamaximum
award opportunity of 200% of target that was
used in prior years. Mr. Thompson’s 2014 Annual
Incentive Plan award payout was $459,000, reflecting
a blended payout of 102% of target based on the
Company’s achievement of the corporate and strategic
performance goals and Mr. Thompson’s achievement of
his individual/business unit performance goals.
• Discretionary Bonus. For 2014, the committee awarded
Mr.Thompsonadiscretionarybonusof$9,000in
recognition of his performance during 2014.
• Long-Term Incentive Award. For 2014, no changes were
made to Mr. Thompson’s long-term incentive award
target. Accordingly, Mr. Thompson’s long-term incentive
awardtargetremainedat$1,200,000.
• Discretionary Awards. In early 2014, the committee
awarded Mr. Thompson a discretionary restricted
stockunitawardwithagrantvalueof$240,000in
recognition of his performance during 2013 and for
retention purposes. This restricted stock unit award is
scheduled to vest in four annual installments, subject to
Mr. Thompson’s continued employment through each
vesting date. In early 2015, the committee awarded
Mr. Thompson a discretionary restricted stock unit
award with a grant valueof$300,000inrecognition
of his performance during 2014 and for retention
purposes. This restricted stock unit award is scheduled
to vest in three equal installments on February 20, 2016,
2017 and 2018, respectively, subject to Mr. Thompson’s
continued employment through each vesting date.
John R. Dye
Executive Vice President, General Counsel and
Secretary
In February 2014, the Compensation Committee set
Mr. Dye’s 2014 compensation levels, including his annual
and long-term incentive award targets, as discussed below.
• Base Salary. For 2014, no changes were made to
Mr. Dye’s annual base salary. Accordingly, Mr. Dye’s
annualbasesalaryremainedat$500,000.
• Annual Incentive Plan Target and Payout Level. For
2014, no changes were made to Mr. Dye’s Annual
IncentivePlantargetof$400,000.Themaximum
Annual Incentive Plan award that Mr. Dye could have
earned during 2014 was 150% of Mr. Dye’s target,
or$600,000,ascomparedtoamaximumaward
opportunity of 200% of target that was used in prior
years. Mr. Dye’s 2014 Annual Incentive Plan award
payout was $376,000, reflecting a blended payout of
94% of target based on the Company’s achievement
of the corporate and strategic performance goals and
Mr. Dye’s achievement of his individual/business unit
performance goals.
• Discretionary Bonus. For 2014, the committee awarded
Mr.Dyeadiscretionarybonusof$8,000inrecognition
of his performance during 2014.
• Long-Term Incentive Award. For 2014, no changes were
made to Mr. Dye’s long-term incentive award target.
Accordingly, Mr. Dye’s long-term incentive award target
remainedat$1,000,000.
• Discretionary Award. In early 2014, the committee
awarded Mr. Dye a discretionary restricted stock unit
awardwithagrantvalueof$100,000inrecognition
of his performance during 2013 and for retention
purposes. The restricted stock unit award is scheduled
to vest in four annual installments, subject to Mr. Dye’s
continued employment through each vesting date.