Sunoco 2012 Annual Report Download - page 139

Download and view the complete annual report

Please find page 139 of the 2012 Sunoco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 185

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185

discussion of the treatment of these awards under certain termination events or in the event of a change in
control.
(3) Reflects the grant date fair value of restricted unit awards granted under the LTIP during fiscal 2012,
computed in accordance with US GAAP. During 2012, Mr. Hennigan received time-vesting awards
(contingent upon continued employment with our general partner through the end of a specified restriction
period) in February 2012, in connection with his appointment as Chief Executive Officer, and again in
December 2012, following the Merger with ETP.
(4) During 2012, Ms. Elsenhans, and Messrs. Colavita, MacDonald and Salinas did not participate in our
general partner’s annual cash incentive plan, nor did they receive any LTIP awards.
OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END
The following table provides information concerning the unvested and outstanding equity awards to each
current NEO as of December 31, 2012:
Name
Stock Awards
Number of Shares or
Units of Stock That Have
Not Vested
(#)
Market Value of Shares
or Units of Stock That
Have Not Vested(1)
($)
Equity Incentive Plan
Awards: Number of
Unearned Shares, Units
or Other Rights That
Have Not Vested(2)
(#)
Equity Incentive Plan
Awards: Market or
Payout Value of
Unearned Shares,
Units or Other
Rights That Have
Not Vested
($)
M. J. Hennigan .......... 26,967(3)(5) 1,341,069
President and Chief
Executive Officer 19,535(4)(6) 971,476 35,033(5)(4) 1,742,191
90,000(6)(6) 4,475,700
M. Salinas, Jr. ........... n/a
(5) n/a n/a(4) n/a
Chief Financial Officer
K. Shea-Ballay 7,290(3)(4) 362,532
Vice President, General
Counsel & Secretary 6,152(5)(4) 305,938
L. L. Elsenhans .......... n/a
(4) n./a
Former Chairman and
Chief Executive Officer
B. P. MacDonald ......... n/a
(4) n/a
Former Vice President and
Chief Financial Officer
M. J. Colavita ........... n/a
(4) n/a
Former Interim Chief
Financial Officer
NOTES TO TABLE:
(1) The market value or payout value of the unearned restricted units assumes a payout at the target of 100
percent, and is equal to the closing price of our common units on December 31, 2012 of $49.73, multiplied
by the number of restricted units outstanding. The amounts shown in this column do not include amounts for
related distribution equivalents that could be included in the payout.
(2) Actual payout of performance-based awards will depend upon our achievement of certain specified
performance levels based on defined goals. The portion of each award that may be earned during the
performance period ranges from a threshold value of zero, to a target value equal to 100 percent of the
award, and a maximum value of 200 percent of the award. Payment of any amounts earned will occur
137