Logitech 2014 Annual Report Download - page 129

(5) For Mr. De Luca the Compensation Committee set a two-year vesting term with vesting to occur on
September 15, 2014 and September 15, 2015. The Compensation Committee also provided for acceleration in
case Mr. De Luca was involuntarily removed from his role as Chairman.
(6) Represents performance-based RSU (“PSU”). All shares subject to the PSU vesting conditions are unvested.
The actual amount, if any, of shares that will vest under the PSU grants will not be known until April 15, 2016.
The actual vesting amount will depend upon the prercentile rank of Logitech TSR against NASDAQ-100
Index TSR.
(7) Mr. Pilette received two RSU grants when he joined the Company in fiscal year 2014, including 195,000 RSUs
with a one year vesting period and 175,000 RSUs that will vest in equal annual increments over three years,
on each yearly anniversary of the grant date.
(8) Mr. Stolk’s bonus amounts were converted using the exchange rate of 1 CHF to 1.13 USD as of
March 31, 2014.
NARRATIVE DISCLOSURE TO SUMMARY COMPENSATION TABLE AND GRANTS OF
PLAN-BASED AWARDS TABLE
Employment Agreements and Offer Letters
We have entered into employment agreements or offer letters with each of our named executive officers. The
employment agreements and offer letters generally provide that the compensation of the named executive officer
is subject to the sole discretion of the Compensation Committee or the Board of Directors. Other than Mr. Pilette’s
compensation as a new hire, the compensation earned by the named executive officers in fiscal year 2014 was not
the result of any terms of their employment agreements or offer letters.
Performance-Based Vesting Conditions
Please refer to “Compensation Disclosure and Analysis—Elements of Compensation—Performance-based
cash incentive awards” for a discussion of the performance measures applicable to the Bonus Plan during fiscal
year 2014. In addition, please refer to “Compensation Disclosure and Analysis—Elements of Compensation—
Long-term equity incentive awards” for a discussion of performance measures under the PSUs granted to executive
officers during fiscal year 2014.
OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END
The following table provides information regarding outstanding equity awards for each of our named executive
officers as of March 31, 2014. This table includes unexercised and unvested stock options, unexercised and unvested
performance stock options, unvested PSUs, and unvested RSUs.
Unless otherwise specified, options and RSUs vest at a rate of 25% per year on each of the first four
anniversaries of the grant date. Market value for stock options, including Premium Priced Option or PPOs and
PSOs, is calculated by taking the difference between the closing price of Logitech shares on the Nasdaq Global
Select Market on the last trading day of the fiscal year ($14.89 on March 31, 2014) and the option exercise price, and
multiplying it by the number of outstanding options. Market value for stock awards (RSUs and PSUs) is determined
by multiplying the number of shares by the closing price of Logitech shares on the Nasdaq Global Select Market on
the last trading day of the fiscal year.
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