Eli Lilly 2015 Annual Report Download - page 161

P45
of target. The number of shares recorded in the table reflects the payout if the combined cumulative EPS for
2015 and 2016 is $6.15.
5 The 2014-2015 PA was determined to be 50 percent of target in January 2016 and the resulting RSUs will
vest February 2017.
6 RSUs vested February 2016 from the 2013-2014 PA.
7 This grant was made in 2008 outside of the normal annual cycle and will vest on May 1, 2018.
Options Exercised and Stock Vested in 2015
Option Awards Stock Awards
Name
Number of Shares
Acquired on Exercise
(#)
Value Realized
on Exercise ($)
Number of Shares
Acquired on Vesting (#)
Value Realized
on Vesting ($) 1
Dr. Lechleiter
140,964 $2,864,829 52,462 2$3,777,264
155,058 3$12,708,586
Mr. Rice
57,108 $1,024,145 26,581 2$1,913,832
65,468 3$5,365,774
Dr. Lundberg
0$020,985 2$1,510,920
51,687 3$4,236,234
Mr. Harrington
6,024 $88,613 0 $0
30,150 3$2,471,127
Mr. Conterno
6,928 $169,875 13,990 2$1,007,280
34,457 3$2,824,079
1 Amounts reflect the market value of the stock on the day the stock vested.
2 RSUs resulting from the 2012-2013 PA vested in February 2015.
3 Payout of the 2013-2015 SVA at 140 percent of target.
Retirement Benefits
We provide retirement income to eligible U.S. employees, including executive officers, through the following
plans:
• The 401(k) Plan, a defined contribution plan qualified under Sections 401(a) and 401(k) of the Internal
Revenue Code. Participants may elect to contribute a portion of their base salary to the plan, and the
company provides matching contributions on employees’ contributions up to 6 percent of base salary up
to IRS limits. The employee contributions, company contributions, and earnings thereon are paid out in
accordance with elections made by the participant. See the "All Other Compensation" column in the
“Summary Compensation Table” for information about company contributions under the 401(k) Plan for
the named executive officers.
• The Retirement Plan, a tax-qualified defined benefit plan that provides monthly benefits to retirees. See
the “Pension Benefits in 2015” table below for additional information about the value of these pension
benefits.
Sections 401 and 415 of the Internal Revenue Code generally limit the amount of annual pension that can be
paid from a tax-qualified plan ($265,000 in 2015 and 2016) as well as the amount of annual earnings that can
be used to calculate a pension benefit. However, since 1975 the company has maintained a nonqualified
pension plan that pays retirees the difference between the amount payable under the Retirement Plan and
the amount they would have received without the Internal Revenue Code limits. The nonqualified pension
plan is unfunded and subject to forfeiture in the event of bankruptcy.