Kroger 2014 Annual Report Download - page 42

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40
restricted฀stock฀awards฀granted฀in฀2011฀and฀2012฀will฀also฀continue฀to฀vest฀according฀to฀the฀original฀
schedule.฀By฀the฀terms฀of฀the฀performance฀unit฀award฀agreements,฀if฀a฀participant฀retires฀after฀reaching฀
age฀55฀with฀at฀least฀5฀years฀of฀service,฀the฀participant฀is฀eligible฀to฀receive฀a฀prorated฀number฀of฀the฀
performance฀units฀earned฀at฀the฀end฀of฀the฀performance฀period,฀based฀on฀the฀number฀of฀weeks฀of฀active฀
employment during the performance period, provided the participant does not provide services to a
competitor฀of฀ours.฀Mr.฀Dillon’s฀prorated฀performance฀units฀are฀described฀in฀footnotes฀19฀and฀20฀above.
2 0 1 4 OP T I O N E X E R C I S E S A N D S T O C K V E S T E D
The฀following฀table฀provides฀information฀for฀fiscal฀2014฀regarding฀stock฀options฀exercised,฀restricted฀
stock฀ vested,฀ and฀ common฀ shares฀ issued฀ to฀ the฀ named฀ executive฀ officers฀ pursuant฀ to฀ performance฀ units฀
earned฀under฀the฀2012฀long-term฀incentive฀plan.
Name
Option Awards(1) Stock Awards(2)
Number of
Shares Acquired
on Exercise
(#)
Value Realized
on Exercise
($)
Number of
Shares Acquired
on Vesting
(#)
Value Realized
on Vesting
($)
W.฀Rodney฀McMullen . . . . . . . . . . . . . . . . . 75,000 $2,079,019 101,045 $5,611,392
J.฀Michael฀Schlotman . . . . . . . . . . . . . . . . . 80,000 $2,157,424 27,896 $1,660,207
Michael฀L.฀Ellis . . . . . . . . . . . . . . . . . . . . . . — — 20,720 $1,220,209
Kathleen฀S.฀Barclay . . . . . . . . . . . . . . . . . . . — — 29,137 $1,626,026
Michael฀J.฀Donnelly . . . . . . . . . . . . . . . . . . . 30,000 $1,109,153 19,371 $1,127,956
David฀B.฀Dillon . . . . . . . . . . . . . . . . . . . . . . 300,000 $9,716,250 161,917 $9,317,612
(1)฀ Stock฀options฀granted฀under฀our฀long-term฀incentive฀plans฀have฀a฀ten-year฀life฀and฀expire฀if฀not฀exercised฀
within฀that฀ten-year฀period.฀The฀value฀realized฀on฀exercise฀is฀the฀difference฀between฀the฀exercise฀price฀
of฀the฀option฀and฀the฀closing฀price฀of฀Kroger’s฀common฀shares฀on฀the฀respective฀date(s)฀of฀exercise.฀
(2)฀ The฀Stock฀Awards฀columns฀include฀the฀following฀two฀components:
฀ In฀ 2012,฀ executives฀ were฀ awarded฀ performance฀ units฀ that฀ are฀ earned฀ based฀ on฀ performance฀ criteria฀
established฀by฀the฀Compensation฀Committee฀ at฀ the฀ beginning฀of฀the฀three-year฀performance฀period.฀
Actual฀ payouts฀ are฀ based฀ on฀ the฀ level฀ of฀ performance฀ achieved,฀ and฀ are฀ paid฀ in฀ common฀ shares.฀
The฀ number฀ of฀ common฀ shares฀ issued฀ and฀ the฀ value฀ realized฀ based฀ on฀ the฀ closing฀ price฀ of฀ Kroger฀
common฀shares฀of฀$76.29฀on฀March฀12,฀2015,฀the฀date฀of฀deemed฀delivery฀of฀the฀shares,฀are฀as฀follows:฀
Mr.฀McMullen:฀16,321฀shares,฀$1,245,129;฀Mr.฀Schlotman:฀9,152฀shares,฀$698,206;฀Mr.฀Ellis:฀3,685฀shares,฀
$281,129;฀ Ms.฀ Barclay:฀ 5,534฀shares,฀ $422,189;฀Mr.฀Donnelly:฀ 4,248฀shares,฀$324,080;฀and฀ Mr.฀ Dillon:฀
50,012฀shares,฀$3,815,415.
฀ The฀table฀also฀includes฀the฀number฀of฀shares฀acquired฀upon฀vesting฀of฀restricted฀stock฀and฀the฀value฀
realized฀ on฀ the฀ vesting฀ of฀ restricted฀ stock฀ as฀ follows:฀ Mr.฀ McMullen:฀ 84,724฀ shares,฀ $4,366,248;฀
Mr.฀Schlotman:฀18,744฀shares,฀$961,986;฀Mr.฀Ellis:฀17,035฀shares,฀$939,080;฀Ms.฀Barclay:฀23,603฀shares,฀
$1,203,822;฀Mr.฀Donnelly:฀15,123฀shares,฀$803,891;฀and฀Mr.฀Dillon:฀111,905฀shares,฀$5,502,197.