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41
Colette M. Kress - Executive Vice President and Chief Financial Officer
Fiscal 2014
Pay ($) Fiscal 2015
Pay ($) Change Market Position of
Fiscal 2015 Pay
Target Cash Compensation (1) . . . . . . . . . . . . . . 1,050,000 1,050,000 (2) no change 50th (3)
Base Salary . . . . . . . . . . . . . . . . . . . . . . . . . . . 500,000 775,000
Target Variable Cash Compensation . . . . . . . . 550,000 275,000 (4)
Target Equity Compensation (5). . . . . . . . . . . . . —(6) 2,097,430 (7) — 65th
Target Total Compensation . . . . . . . . . . . . . . . . — 3,147,340 — 65th (8)
__________
(1) Ms. Kress began employment in the second half of Fiscal 2014; therefore, Fiscal 2014 target cash compensation has been annualized
to present a more accurate comparison of year over year change and excludes a sign-on bonus of $1.5 million paid in Fiscal 2014;
Fiscal 2015 target cash compensation excludes an anniversary bonus of $1.0 million paid in Fiscal 2015 pursuant to Ms. Kress’ offer
letter (which must be repaid upon a resignation or termination under certain circumstances). The CC determined that these special
bonuses were necessary to attract Ms. Kress, in consideration of her compensation opportunity at her prior employer.
(2) Target variable cash compensation reduction by 50% (similar to Mr. Puri and Ms. Shoquist) and a base salary increase were determined
by the CC to be appropriate because they resulted in overall target cash compensation at the median of the market data.
(3) Market position of target cash compensation was lower than that of the other NEOs in part due to internal pay equity for cash
compensation.
(4) Represents cash payable upon achievement of Target performance under our Variable Cash Plan. Based on our Non-GAAP Operating
Income achievement at Maximum performance, Ms. Kress earned a maximum award of $550,000.
(5) Based on the target aggregate fair value of equity awards at the time of CC approval.
(6) Excludes new hire equity grant as it will not present an accurate comparison of year over year change.
(7) Target equity opportunity was $2.1 million (129,500 shares), set based on market data, overall CC objectives and internal pay equity.
40% of target shares (or 52,000 shares) were allocated to RSUs and 60% of target shares (or 77,500 shares) were allocated to PSUs
(where 19,375 shares were eligible to vest upon Threshold performance and 155,000 shares were eligible to vest upon Maximum
performance). Based on our Non-GAAP Operating Income achievement at Maximum performance, 200% of the target PSUs (or
155,000 shares) became eligible to vest over a four year period beginning on the date of grant (with 25% vesting on March 18,
2015).
(8) Market position of target total compensation was lower than that of Mr. Shannon and Ms. Shoquist, but was determined by the CC
to be appropriate based on the subjective determination of the CC.
Ajay K. Puri - Executive Vice President, Worldwide Field Operations
Fiscal 2014
Pay ($) Fiscal 2015
Pay ($) Change Market Position of
Fiscal 2015 Pay
Target Cash Compensation . . . . . . . . . . . . . . . 1,250,000 1,250,000 (1) no change > 90th
Base Salary . . . . . . . . . . . . . . . . . . . . . . . . . . 500,000 875,000
Target Variable Cash Compensation . . . . . . . 750,000 375,000 (2)
Target Equity Compensation (3) . . . . . . . . . . . 1,211,936 1,611,725 (4) up 33% 65th
Target Total Compensation . . . . . . . . . . . . . . . 2,461,936 2,861,725 up 16% 65th (5)
__________
(1) Target variable cash compensation was reduced by 50% (similar to Ms. Kress and Ms. Shoquist) and base salary was increased to
provide an appropriate level of fixed pay for retention and security in light of increased “at-risk” total compensation. Base salary
amount was chosen based on internal pay equity with other NEOs, individual performance and responsibilities as head of worldwide
field operations.
(2) Represents cash payable upon achievement of Target performance under our Variable Cash Plan. Based on our Non-GAAP Operating
Income achievement at Maximum performance, Mr. Puri earned a maximum award of $750,000.