Eli Lilly 2007 Annual Report Download - page 77

PROXY STATEMENT
7575
Directors’ Compensation
Directors who are employees receive no additional compensation for serving on the board or its committees.
In 2007, we provided the following annual compensation to directors who are not employees:
Name
Fees Earned
or Paid in Cash ($) 1
Stock Awards
($) 2
Stock Option Awards
($) 3
All Other Compensation
($) 4
Total
($) 5
Sir Winfried Bischoff $95,000 $145,000 $4,074 $3,067 $247,141
Mr. Cook $120,000 $145,000 0 $29,124 $294,124
Dr. Feldstein $110,000 $145,000 $4,074 $29,000 $288,074
Mr. Fisher $93,000 $145,000 $4,074 $30,610 $272,684
Mr. Fyrwald $103,000 $145,000 0 $1,185 $249,185
Dr. Gilman $100,000 $145,000 $4,074 $32,374 $281,448
Ms. Horn $122,000 $145,000 $4,074 $4,202 $275,276
Ms. Marram $95,000 $145,000 $4,074 $34,878 $278,952
Dr. Prendergast $98,000 $145,000 $4,074 $555 $247,629
Ms. Seifert $100,000 $145,000 $4,074 $75,000 $324,074
1 The following directors deferred 2007 cash compensation into their deferred share account under the Lilly Direc-
tors’ Deferral Plan (further described below):
Name 2007 Cash Deferred Shares
Mr. Fisher $46,500 839
Mr. Fyrwald $103,000 1,854
2 E
ach nonemployee director received an award of stock with a grant date fair value of $145,000 (2,840 shares).
This stock award and all prior stock awards are fully vested in that they are not subject to forfeiture; however, the
shares are not issued until the director ends his or her service on the board, as further described below under
“Lilly Directors’ Deferral Plan.” The table shows the expense recognized by the company for each director’s stock
award.
3 No stock options were granted in 2007, as the stock option program for directors was discontinued in 2005. The
amounts in this column refl ect the expenses related to options granted in 2004 recognized in our 2007 fi nan-
cial statements. A discussion of the assumption used in calculating these values may be found in Note 7 to our
2007 audited fi nancial statements on pages 43–44 of our annual report. Aggregate total numbers of stock option
awards outstanding are shown below in the Directors’ Outstanding Stock Options table. All outstanding options
were vested as of February 17, 2007. Stock option grants were established using the same procedure for timing
and price as is used for employees.
4 This column includes amounts donated by the Eli Lilly and Company Foundation, Inc. under its matching gift
pro
gram, which is generally available to U.S. employees as well as the outside directors. Under this program,
the foundation matches 100 percent of charitable donations over $25 made to eligible charities, up to a maximum
of $90,000 per year for each individual. For all directors, the amounts in this column also include tax reimburse-
ments for income imputed to him or her for use of the corporate aircraft, or for commercial fl ights, by his or her
spouse to attend board functions that included spouse participation. For Mr. Fyrwald, this amount includes tax re-
imbursement for income imputed to him for child care during a board function that included spouse participation.
The foundation matched the following donations of more than $10,000 for outside directors in 2007 via pay-
ments made directly to the recipient charity:
Name Amount of Matching Donation
Mr. Cook $27,000
Dr. Feldstein $29,000
Mr. Fisher $30,000
Dr. Gilman $31,500
Ms. Marram $34,500
Ms. Seifert $75,000
5 Directors do not participate in a Lilly pension plan or non-equity incentive plan.