Logitech 2015 Annual Report Download - page 110

Compensation Report for Fiscal Year 2015
– Proxy Statement | 100
2015 Annual General Meeting Invitation, Proxy Statement
General Meetings, usually held in September each year,
except for last year when the fiscal 2014 Annual General
Meeting was held in December 2014, the amounts in
the table do not necessarily align with the description of
Board compensation above.
Information regarding compensation paid to and the
option and stock awards held by Guerrino De Luca and
Bracken Darrell, the members of the Board of Directors
that are Logitech executive officers as of fiscal year-end
2015, are presented in the Summary Compensation
Table and the Outstanding Equity Awards at Fiscal Year-
End Table, respectively.
NON-EMPLOYEE DIRECTOR SUMMARY COMPENSATION FOR FISCAL YEAR 2015
Name
Standard
Fees Earned
in Cash
($)(1)
Additional
Fees
Earned in
Cash
($)(2)
Stock
Awards
($)(3)
Total
($)
Daniel Borel 70,097 — 153,000 223,097
Matthew Bousquette 163,559 111,615 152,350 427,524
Kee-Lock Chua 111,076 60,391 152,350 323,817
Sally Davis 147,383 69,827 153,000 370,210
Didier Hirsch 118,625 114,311 152,350 385,286
Neil Hunt 105,594 30,735 152,350 288,679
Dimitri Panayotopoulos 48,528 — 153,000 201,528
Monika Ribar 105,594 60,391 153,000 318,985
(1) Amounts in Swiss Francs were converted using the 12 month average (April 2014 to March 2015) exchange rate
of 1 Swiss Franc to 1.0784 U.S. Dollar.
(2) Additional fees awarded in recognition of the additional Audit Committee and Board meetings and calls and other
additional work related to the Audit Committee investigation during fiscal year 2015 of accounting issues from
prior years. The Audit Committee and the independent members of the Board met or held conference calls on a
frequent basis in addition to their regular meetings.
(3) Amounts shown do not reflect compensation actually received by the director. Instead, the amount shown is the
aggregate grant date fair value of stock-related awards in fiscal year 2015 computed in accordance with ASC
Topic 718 -- Compensation -- Stock Compensation, disregarding forfeiture assumptions. The market value used
to calculate the aggregate value for fiscal year 2015 was $13.85 or CHF 13.59 per share.
The following table presents additional information with
respect to the equity awards held as of March 31, 2015
by members of the Board of Directors who were not
executive officers as of fiscal year-end.
In 2010, Logitech began granting RSUs instead of stock
options to continuing non-employee directors. The RSUs
granted since fiscal year 2010 fully vest on approximately
the one-year anniversary date of the grant.
The market value for stock options 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 ($13.15 on March 31, 2015)
and the option exercise price, and multiplying it by the
number of outstanding options. The market value for
RSUs is determined by multiplying the number of shares
subject to the award by the closing price of Logitech
shares on the Nasdaq Global Select Market on the last
trading day of the fiscal year.