US Postal Service 2012 Annual Report Download - page 70

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2012 Report on Form 10-K United States Postal Service- 69 -
amounts that could not be paid to an executive officer due to the compensation cap or their contract were deferred for future payment. * Consistent with
the correction to FY11; Mr. Vegliante was awarded $60,000 in November 2010 for the twelve-month period ending on October 31, 2011; the October
2011 portion ($5,000) was incorrectly included in the FY11 report, as it was compensation for one month of FY12 performance. $60,000 reported for
FY12 includes $5,000 from October 2011 and $55,000 from November 2011 through September 2012.
Column (f) Mr. Donahoe, Mr. Burgoyne and Mr. Vegliante participate in the Civil Service Retirement System (CSRS), which is a defined benefit plan.
Mr. Corbett, Mr. Masse and Ms. Gibbons participate in the Federal Employees Retirement System (FERS), a portion of which is a defined benefit plan.
The calculation of retirement annuities under CSRS and FERS is explained in the Pension Benefits table, the associated note, and in the Retirement
Annuities section of the Compensation Discussion and Analysis. The amounts shown in column (f) for each of these individuals are the amounts by
which the value of their annuities has increased since the end of the prior fiscal year. “Nonqualified deferred compensation earnings” is defined as
above-market earnings on deferred income. There were no reportable amounts of non-qualified deferred compensation earnings for the named
executive officers in FY12 or FY11, with the exception of Mr. Corbett, whose above-market earnings on deferred income were $473 in FY12 and $238
in FY11.
Column (g) For all executive officers listed, the ’All Other Compensation” category includes financial planning services, Thrift Savings Plan employer
matching contribution for FERS employees, non-cash awards, parking, physical examinations, life insurance premiums paid for by the Postal Service,
airline clubs, and relocation costs. Security costs valued at $40,000 for FY12 are also included for the Postmaster General.
GRANTS OF PLAN-BASED AWARDS
The following table presents information regarding potential non-equity incentive awards to the named executive officers
for fiscal year 2013. Whether executive officers receive an award and, if so, the amount of an award for fiscal year 2013
will depend on the Postal Service’s and the individual’s performance.
Name Grant Date Estimated Future Payouts Under Non-Equity Incentive Plan
Awards
Threshold ($) Target ($) Maximum ($)
(a) (b) (c) (d) (e)
Patrick R. Donahoe October 2012 14,728 33,221 103,815
Joseph Corbett October 2012 12,715 28,680 89,625
Stephen J. Masse October 2012 10,055 22,680 70,875
Ellis A. Burgoyne October 2012 12,236 27,600 86,250
Mary Anne Gibbons October 2012 12,236 27,600 86,250
Anthony J. Vegliante
October 2012 12,768 28,800 90,000
Note: Columns (c)-(e). The USPS Pay-for-Performance (PFP) program relies on a 15-point scale with clearly defined and transparent corporate go
als.
The PFP plan target in any given year is set at a rating of 6. Incentives are not paid for any rating below or equal to 3. The maximum threshold for
payment is set at a rating of 15. Individual ratings vary but the corporate score is used as the regul
ator. As noted above, no incentives were paid for FY
2012.