Logitech 2011 Annual Report Download - page 113

101
ENglISH
Named Executive Officer Type of Equity Grant
2011 Shares
Subject
to Equity
Grants
(#)
2010 Shares
Subject
to Equity
Grants
(#)
Shares Subject
to Equity
Grants -
Change
2011 to 2010
2011 Grant
Date Fair
Value
($)(1)
2010 Grant
Date Fair
Value
($)(1)
Grant Date
Fair Value
Change 2011
to 2010
Werner Heid . . . . . . . . . . PSUs 36,000 13,000 177% 1,002,600 236,340 324%
RSUs 24,000 9,000 167% 487,200 126,180 286%
Options n/a 82,500 n/a n/a 450,450 n/a
60,000 104,500 -43% 1,489,800 812,970 83%
Junien Labrousse . . . . . . PSUs 36,000 20,000 80% 1,002,600 363,600 176%
RSUs 24,000 13,000 85% 487,200 182,260 167%
Options n/a 90,000 n/a n/a 491,400 n/a
60,000 123,000 -51% 1,489,800 1,037,260 44%
(1) Grant date fair value represents the accounting cost to Logitech associated with equity awards. The actual
equity award value delivered to each named executive officer may be considerably lower or higher than
the grant date fair value of the award. The actual equity award value delivered depends on, in the case
of performance-based awards such as PSUs, whether or not the minimum performance condition is met,
and, if so, the level of performance. Actual equity award value delivered also is significantly impacted by
appreciation or depreciation in Logitech’s share price between the grant and vesting dates.
Determination of long-term equity incentive awards
The Compensation Committee is responsible for approving who should receive equity incentive awards,
when the awards should be made, the vesting schedule, the number of shares or other rights to be granted. Long-
term equity incentive awards may be granted only by the Compensation Committee or the full Board of Directors.
The Compensation Committee regularly reports its activity, including approvals of grants, to the Board. We do not
have any program, plan, or practice to select equity compensation grant dates in coordination with the release of
material non-public information, nor do we time the release of information for the purpose of affecting value. We
do not backdate options or grant options retroactively.
Timing of grants
Long-term equity incentive award grants to executive officers are typically and predominantly made at
regularly scheduled, predetermined meetings of the Compensation Committee. These meetings are scheduled up
to 18 months in advance and take place before the regularly scheduled, predetermined meetings of the full Board.
On limited occasions, grants may be made at an interim meeting of the Compensation Committee or by consent, for
the purpose of approving the hiring and compensation package for newly hired or promoted executives. The timing
of interim meetings or consents, if they occur, is based on the activity which generated the need for the meeting or
the consent, not Logitech’s share price. In fiscal year 2011 grants were made to new hires and promoted employees
below the executive officer level through regularly scheduled monthly written consents of the Compensation
Committee.
DETERMINING TOTAL EXECUTIVE COMPENSATION
Role of the Compensation Committee
The Compensation Committee reviews and approves our compensation programs, including the specific
compensation of our Chairman, our Chief Executive Officer, and our other executive officers.
Under the Compensation Committee’s charter, the Committee has the authority to engage its own advisors
(including compensation consultants) to assist it in carrying out its responsibilities. The Committee retained
Frederic W. Cook & Co., Inc. (Fred Cook) to provide analysis, advice and guidance with respect to executive
compensation. Fred Cook only provided services to the Compensation Committee, and did not provide other