XM Radio 2015 Annual Report Download - page 46

In February 2016, Mr. Meyer was awarded a cash bonus of $7.5 million in recognition of his
notable performance and contribution to our corporate performance in 2015, including:
üIncreasing our net subscribers by approximately 2.3 million, resulting in a total of
approximately 29.6 million subscribers, an increase of over 8% as compared to 2014
üAchieving adjusted EBITDA growth of 13% to $1.7 billion
üIncreasing our 2015 revenue by 9% to $4.6 billion and increasing free cash flow by 14% to $1.3 billion
üOverseeing $2 billion of stock repurchases through our buyback program
ü
Continuing to establish Sirius XM as a leading provider of telematics services by entering
into agreements with Toyota, Nissan, Audi, Jaguar, Land Rover and Subaru to provide
connected vehicles services and/or support for their new vehicle safety and security
services
üManaging our significant investments in research and development
üContinuing to expand our ability to identify and acquire subscribers in certified pre-owned and used vehicles and managing our investment in infrastructure in this area
ü
Entering into a long-term agreement with Howard Stern, renewing our agreements with
the National Football League, the National Hockey League, and the PGA Tour, and
adding other compelling content to our services while managing programming expenses
üContinuing to improve our customer care experience, including through further
enhancements to our Internet-based self-care functionality and chat services
üFostering a corporate culture based on quality, creativity, diversity, integrity and
innovation
üMaintaining Sirius XM as one of the largest subscription-based media companies in the United States
Other Benefits Provided to Named Executive Officers
Retirement and Other Employee Benefits
We maintain broad-based benefits for all employees, including health and dental insurance, life
and disability insurance and a 401(k) savings plan, including a matching component for that plan.
Our named executive officers are eligible to participate in all of our employee benefit plans on the
same basis as other employees.
Our 401(k) savings plan allows eligible employees to voluntarily contribute from 1% to 50% of
their pre-tax eligible earnings, subject to certain defined limits. We match 50% of an employee’s
voluntary contributions per pay period on the first 6% of an employee’s pre-tax salary up to a
maximum of 3% of eligible compensation. Employer matching contributions under the plan vest at a
rate of 33.33% for each year of employment and are fully vested after three years of employment
for all current and future contributions.
Deferred Compensation Plan
In 2015, the Compensation Committee approved and adopted the Sirius XM Holdings Inc.
Deferred Compensation Plan (the “Deferred Compensation Plan”) to provide a tax-efficient method
for participants to defer certain portions of their compensation. Participation in the Deferred
Compensation Plan is available to certain of our senior officers, including our named executive
officers, and members of our board of directors, and we believe this enhances our ability to attract
and retain senior management.
Eligible employees may defer a portion of their annual base salary and/or annual bonus, as
applicable, each plan year. Our named executive officers are eligible to participate on the same
terms as other eligible employees. Although our Compensation Committee deemed the Deferred
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