Eli Lilly 2011 Annual Report Download - page 131

PROXY STATEMENT
Grants of Plan-Based Awards During 2011
The compensation plans under which the grants in the following table were made are described in the
“Compensation Discussion and Analysis” and include the bonus plan (a non-equity incentive plan) and the 2002 Lilly
Stock Plan (which provides for PAs, SVAs, stock options, restricted stock grants, and stock units).
Estimated Possible Payouts
Under Non-Equity
Incentive Plan Awards 1
Estimated Possible and Future
Payouts Under Equity
Incentive Plan Awards
All Other
Stock or
Option
Awards:
Number
of
Shares
of Stock,
Options,
or Units
Grant
Date Fair
Value of
Equity
AwardsName Award Grant Date
Compensation
Committee
Action Date
Threshold
($)
Target
($)
Maximum
($)
Threshold
(# shares)
Target
(# shares)
Maximum
(# shares)
Dr. Lechleiter — — $52,500 $2,100,000 $4,200,000
2011-2012 PA 02/07/2011 212/13/2010 58,778 117,555 176,333 $1,875,000
2011-2013 SVA 02/07/2011 312/13/2010 59,809 149,522 209,331 $3,750,000
0
Mr. Rice — — $22,144 $885,750 $1,771,500
2011-2012 PA 02/07/2011 212/13/2010 29,781 59,561 89,342 $950,000
2011-2013 SVA 02/07/2011 312/13/2010 30,303 75,758 106,061 $1,900,000
0
Mr. Carmine — — $21,413 $856,530 $1,713,060
2011-2012 PA 02/07/2011 212/13/2010 23,511 47,022 70,533 $750,000
2011-2013 SVA 02/07/2011 312/13/2010 23,924 59,809 83,733 $1,500,000
0
Dr. Lundberg — — $21,909 $876,375 $1,752,750
2011-2012 PA 02/07/2011 212/13/2010 21,552 43,103 64,655 $687,500
2011-2013 SVA 02/07/2011 312/13/2010 21,930 54,825 76,755 $1,375,000
0
Mr. Armitage — — $16,818 $672,720 $1,345,440
2011-2012 PA 02/07/2011 212/13/2010 15,674 31,348 47,022 $500,000
2011-2013 SVA 02/07/2011 312/13/2010 15,949 39,872 55,821 $1,000,000
0
1These columns show the threshold, target, and maximum payouts for performance under the bonus plan. As
described in the section titled “Cash Incentive Bonuses” in the “Compensation Discussion and Analysis,” bonus-
payouts range from 0 to 200 percent of target. The bonus payment for 2011 performance was based on the metrics
described, at 125 percent of target, and is included in the “Summary Compensation Table” in the column titled
“Non-Equity Incentive Plan Compensation.”
2This row shows the range of payouts for 2011-2012 PA grants as described in the section titled “Equity Incentives—
Performance Awards” in the “Compensation Discussion and Analysis.” The 2011-2012 PA will pay out in Jan-
uary 2013 based on cumulative EPS for 2011 and 2012. Payouts will range from 0 to 150 percent of target and will
be in the form of restricted stock units, vesting in February 2014.
3This row shows the range of payouts for 2011-2013 SVA grants as described in the section titled “Equity
Incentives—Shareholder Value Awards” in the “Compensation Discussion and Analysis.” The 2011-2013 SVA payout
will be determined in January 2014. SVA payouts range from 0 to 140 percent of target.
To receive a payout under the PA or the SVA, a participant must remain employed with the company through the
end of the relevant performance period (except in the case of death, disability, or retirement). In addition, an
employee who was an executive officer at the time of grant will receive payment in restricted stock units according to
the chart titled “Performance and Holding Periods for PAs and SVAs” in the “Compensation Discussion and
Analysis.” SVAs granted in 2011 will pay out in common stock at the end of the three-year performance period
according to the grid in the section of the “Compensation Discussion and Analysis” titled “Equity Incentives—
Shareholder Value Awards,” provided the participant is still employed with the company (except in the case of death,
disability, or retirement). No dividends accrue on either PAs or SVAs during the performance period.
Non-preferential dividends accrue on earned PA’s one-year restriction period following the two-year performance
period and these accrued dividends are paid upon vesting.
41