Staples 2015 Annual Report Download - page 40

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EXECUTIVE COMPENSATION AND COMPENSATION DISCUSSION AND ANALYSIS
36 STAPLES Notice of Annual Meeting of Stockholders
Realized Pay and Alignment with Performance (2013 – 2015)
For 2015, 89% (CEO) to 80% (Other NEOs) of total
compensation at target was contingent on performance.
The only fixed portion of compensation was base salary. We
do not have a pension plan. The charts below illustrate the
relationship between potential and actual compensation for
our CEO for the period from 2013 to 2015 and demonstrate
how alignment between pay and performance was achieved.
Chart A shows: (1) the reported compensation for our CEO
for each year as shown in our Summary Compensation Table
(SCT), representing the potential amount of compensation that
could be earned at target based on awards granted in that
year; and (2) the realized compensation actually earned and
received by our CEO in that year.
In $ millions
As Reported
Realized
2015
2014
2013
$7.1
$9.8
0 5 10 15
$7.2
$12.4
$6.8
$10.8
Chart A: As Reported vs. Realized (by year)
Chart B shows the target compensation for our CEO over
the 2013-2015 period, as determined by the Compensation
Committee, and the amount of compensation realized and
actually earned or paid in connection with awards made
during 2013-2015. It excludes awards that were granted prior
to 2013. This illustrates the compensation earned and paid
during the 2013-2015 period as compared to the opportunity
established by the Committee during the same period.
Target Pay
Target Pay
Realized
2013 to
2015
$36.2
$10.4
0 5 10 15 20 25 30 35 40
In $ millions
Chart B: Target vs. Realized
Chart B is intended to specifically show the compensation that resulted from the Committee’s decision to change the executive
compensation program and to demonstrate the alignment between compensation earned and company performance. The
target total compensation (base salary and incentives) for our CEO over the 2013-2015 fiscal years was $36,237,408. Actual
compensation (salary and incentives) earned and paid over the same period, excluding any payments in connection with
awards granted prior to 2013, was $10,447,202 or 28.8% of target, including the 2013-2015 performance share payout
paid in March 2016.