Eli Lilly 2007 Annual Report Download - page 95

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PROXY STATEMENT
9393
Value Awards” in the Compensation Discussion and Analysis.
3 No stock options were granted to named executive offi cers in 2007.
4 These rows show performance award grants. The dollar amount recognized by the company for these perfor-
mance awards is shown in the Summary Compensation Table in the column titled “Stock Awards” and their valu-
ation assumptions are referenced in footnote 2 to that table. The 2007 performance award payout was made in
January 2008 and is shown in more detail below.
5 These rows show shareholder value award grants. The payout for the 2007 shareholder value award will be deter-
mined in January 2010.
Our performance awards granted in 2007 paid out in January 2008, and the named executive offi cers received
the following shares:
Name Performance Awards
Value on
December 31, 2007
Mr. Taurel 100,000 $5,339,000
Dr. Lechleiter 73,354 $3,916,370
Dr. Paul 44,256 $2,362,828
Mr. Armitage 31,532 $1,683,493
Mr. Rice 31,532 $1,683,493
For 2007 performance, payouts were 200 percent of target. In order to receive a performance award payout,
a participant must have remained employed with the company through December 31, 2007 (except in the case of
death, disability, or retirement). In addition, an executive who was an executive offi cer at the time of grant and at
the time of payout received payment in shares of restricted stock. Non-preferential dividends are paid during the
one-year restriction period. Each executive was awarded the shares identifi ed above, and the shares will remain
restricted (and subject to forfeiture if the executive resigns) until the earlier of February 2009 or the executive’s
retirement. Mr. Taurel’s shares will vest upon his retirement from the company on December 31, 2008.
Our shareholder value awards granted in 2007 will pay out at the end of the three-year performance period
according to the grid as shown on page 87 of the Compensation Discussion and Analysis. At the end of 2007, the
award was on track to pay out at 40 percent of target.