Western Union 2015 Annual Report Download - page 62

NOTICE OF 2016 ANNUAL MEETING OF STOCKHOLDERS AND PROXY STATEMENT
44 | The Western Union Company
COMPENSATION DISCUSSION AND ANALYSIS
but required the coordinated, cross-functional focus and
effort of the executives. Based on the achievement of the
strategic performance objectives, the committee certified
a payout equal to 121% of each named executive officer’s
target allocated to the strategic performance objectives. The
strategic performance objectives, their respective weightings,
as well as the performance assessment for the 2015 Annual
Incentive Plan awards are as follows:
2015 ANNUAL INCENTIVE PLAN STRATEGIC PERFORMANCE GOALS 2015 ACTUAL PERFORMANCE
Currency adjusted growth in revenue originating from westernunion.com and mobile money
transfer services (weighting 10%)
Between threshold &
target performance
Goals relating to expansion of the Company’s account payout network (aggregate weighting 10%) Between target &
maximum performance
Performance Level Achievement 121%
Individual and Business Unit Performance Objectives.
As noted in the table on the previous page, other than for
Mr. Ersek, 30% of the 2015 annual incentive awards was
subject to the achievement of individual and/or business
unit performance objectives. Weighting for each individual
and business unit performance objective ranged from 10%
to 40% of the bonus opportunity allocated to individual
and/or business unit performance. To emphasize the
importance of compliance and employee engagement
throughout the organization, the individual performance
objectives also included objectives relating to compliance
initiatives and employee engagement, each weighted 10%
of the individual and business unit component of the 2015
Annual Incentive Plan.
The following table summarizes the individual performance
goals for each named executive officer (other than Mr. Ersek)
under the 2015 Annual Incentive Plan, as approved by the
Compensation Committee. In addition to the performance
goals described below, each of these named executive
officers were also subject to goals relating to compliance and
employee engagement initiatives described above.
Rajesh K. Agrawal Expense management and operating cash flows
Odilon Almeida The Americas and Europe region revenue growth, profit growth, and profit margin growth
J. David Thompson Expense management, consumer-to-consumer segment achievements, and customer satisfaction
Diane Scott Expense management, and execution of marketing and pricing initiatives
The committee believes the performance objectives
established for each of the named executive officers are
indicators of the executive’s success in fulfilling the executive’s
responsibilities to the Company and support the Company’s
strategic operating plan. The committee also believes that
including compliance and employee engagement in each of
the named executive officer’s individual and business unit
objectives reinforces compliance and employee engagement
as priorities throughout the organization. The performance
levels of the individual and business unit objectives were
designed to be achievable, but required strong and consistent
performance by the executive.