Western Union 2015 Annual Report Download - page 68

NOTICE OF 2016 ANNUAL MEETING OF STOCKHOLDERS AND PROXY STATEMENT
50 | The Western Union Company
COMPENSATION DISCUSSION AND ANALYSIS
In February 2015, the Compensation Committee set
Mr. Ersek’s 2015 compensation levels, including his annual
and long-term incentive award targets, as discussed below.
Mr. Ersek’s compensation as Chief Executive Officer is set
higher relative to the other named executive officers. The
Compensation Committee considers this to be appropriate,
based on market data provided by the Compensation
Consultant, and because his level of pay reflects his ultimate
responsibility to oversee the performance of the Company.
• Base Salary. For 2015, no changes were made to
Mr. Ersek’s annual base salary. Accordingly, Mr. Ersek’s
annual base salary remained at $1,000,000.
• Annual Incentive Plan Target and Payout Level. For
2015, no changes were made to Mr. Ersek’s Annual
Incentive Plan target of $1,500,000. The maximum
Annual Incentive Plan award that Mr. Ersek could
have earned during 2015 was 150% of Mr. Ersek’s
target, or $2,250,000. The Compensation Committee
determined that it was appropriate to base Mr. Ersek’s
award opportunity under the Annual Incentive Plan
on Company financial and strategic performance
objectives and did not include individual measures.
Mr. Ersek’s 2015 Annual Incentive Plan award payout
was $1,767,000, reflecting a blended payout of 118% of
target based on the Company’s level of achievement of
the corporate and strategic performance goals.
• Long-Term Incentive Award. For 2015, no changes were
made to Mr. Ersek’s long-term incentive award target.
Accordingly, Mr. Ersek’s 2015 long-term incentive award
target remained at $6,000,000.
Rajesh K. Agrawal
Executive Vice President and Chief Financial Officer
In February 2015, the Compensation Committee set
Mr. Agrawal’s 2015 compensation levels after considering
the input of the Compensation Consultant and market data.
• Base Salary. For 2015, Mr. Agrawal’s base salary was
increased from $550,000 to $566,500.
• Annual Incentive Plan Target and Payout Level.
Mr. Agrawal’s 2015 annual incentive target was increased
f ro m $ 4 9 5 , 0 0 0 to $ 5 0 9 , 8 5 0 , as a result of Mr. Agrawal’s 2015
base salary increase. The maximum Annual Incentive Plan
award that Mr. Agrawal could have earned during 2015 was
150% of Mr. Agrawal’s target, or $764,775. Mr. Agrawal’s
2015 Annual Incentive Plan award payout was $603,663,
reflecting a blended payout of 118% of target based on the
Company’s achievement of the corporate and strategic
performance goals and Mr. Agrawal’s achievement of his
individual performance goals.
• Long-Term Incentive Award. For 2015, no changes were
made to Mr. Agrawal’s long-term incentive award target.
Accordingly, Mr. Agrawal’s 2015 long-term incentive award
target remained at $1,500,000.
Odilon Almeida
Executive Vice President and President, Americas and
European Union
In February 2015, the Compensation Committee set
Mr. Almeida’s 2015 compensation levels after considering
the input of the Compensation Consultant and market data.
• Base Salary. For 2015, Mr. Almeida’s base salary was
increased from $600,000 to $612,000.
• Annual Incentive Plan Target and Payout Level.
Mr. Almeida’s annual incentive target was increased
from $540,000 to $550,800, as a result of Mr. Almeida’s
2015 base salary increase. The maximum Annual
Incentive Plan award that Mr. Almeida could have
earned during 2015 was 150% of Mr. Almeida’s target,
or $826,200. Mr. Almeida’s 2015 Annual Incentive Plan
award payout was $652,148, reflecting a blended payout
of 118% of target based on the Company’s achievement
of the corporate and strategic performance goals and
Mr. Almeida’s achievement of his individual/business
unit performance goals.
• Long-Term Incentive Award. For 2015, no changes were
made to Mr. Almeida's long-term incentive award target.
Accordingly, Mr. Almeida's 2015 long-term incentive award
target remained at $1,200,000.
J. David Thompson
Executive Vice President, Global Operations and Chief
Information Officer
In February 2015, the Compensation Committee set
Mr. Thompson’s 2015 compensation levels after considering
the input of the Compensation Consultant and market data.
• Base Salary. For 2015, Mr. Thompson’s annual base salary
was increased from $500,000 to $540,000.
• Annual Incentive Plan Target and Payout Level.
Mr. Thompson’s annual incentive target was increased
from $450,000 to $486,000, as a result of Mr. Thompson’s
2015 base salary increase. The maximum Annual
Incentive Plan award that Mr. Thompson could have
earned during 2015 was 150% of Mr. Thompson’s target,
or $729,000. Mr. Thompson’s 2015 Annual Incentive Plan
award payout was $524,394, reflecting a blended payout
of 108% 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.
• Long-Term Incentive Award. For 2015, 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.