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2015 Report on Form 10-K United States Postal Service 71
Summary Compensation Table
The following table presents information regarding the compensation of our six most highly compensated executive officers
(the “named executive officers”):
Name and
principal position Year Salary ($) Bonus ($)
Non-equity
incentive plan
compensation ($)
Change
in pension value and
non-qualified deferred
compensation earnings ($)
All other
compensation
($) Total ($)
(a) (b) (c) (d) (e) (f) (g) (h)
1Megan J. Brennan,
Postmaster General & CEO FY15 266,981 - 9,500 110,429 28,381 415,291
FY14 236,536 20,000 - 77,271 17,848 351,655
FY13 235,000 - - 87,447 18,475 340,922
1Patrick R. Donahoe,
Former Postmaster General
& CEO FY15 102,321 - - (62,846) 8,699 48,174
FY14 278,538 - - 53,064 16,941 348,543
FY13 276,840 - - 145,321 14,379 436,540
Joseph Corbett, Chief
Financial Officer &
Executive VP FY15 246,404 - 44,700 40,634 21,932 353,670
FY14 240,563 - 35,000 36,379 19,432 331,374
FY13 239,000 - 35,000 29,504 18,981 322,485
2James P. Cochrane, Chief
Information Officer &
Executive VP FY15 239,702 - 9,400 279,722 10,563 539,387
FY14 230,135 - - 226,128 9,349 465,612
FY13 - - - - -
Thomas J. Marshall,
General Counsel &
Executive VP FY15 238,926 15,000 9,300 99,035 18,821 381,082
FY14 231,504 - - 69,064 18,568 319,136
FY13 199,820 - - 42,211 12,848 254,879
3David E. Williams Jr.,
Chief Operating Officer &
Executive VP FY15 223,458 - 7,600 88,153 17,542 336,753
FY14 - - - - - -
FY13 - - - - - -
Notes:
1Mr. Donahoe was Postmaster General through February 1, 2015. Ms. Brennan was appointed Postmaster General and CEO as of February 2, 2015; therefore, the salaries
shown above reflect compensation as Chief Operating Officer for FY15 (prior to February 2), FY14, and FY13.
2Mr. Cochrane was not a named executive officer in FY13 and, as such, information for fiscal year 2013 is not reported
3Mr. Williams was not a named executive officer in FY14 or FY13 and, as such, information for fiscal years 2014 and 2013 are not reported
Column (d) Ms. Brennan received an award in FY14 for efficiency / cost savings initiatives while in the position of Chief Operating Officer. Mr. Marshall received a Board of
Governor’s award in FY15.
Column (e) The amounts in this column reflect the performance-based incentive compensation awarded to executive officers for performance in prior fiscal years; as noted
above, this incentive compensation was not awarded for FY13. Any amounts that could not be paid to an executive officer, due to the compensation cap or their contract, were
deferred for future payment and are also reflected in the non-qualified deferred compensation table below.
Column (f) Mr. Donahoe and Mr. Cochrane participate in the Civil Service Retirement System (“CSRS”), which is a defined benefit plan. Ms. Brennan, Mr. Corbett, Mr.
Marshall and Mr. Williams 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 changed since the end of the prior fiscal
year. “Non-qualified 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 FY15, FY14, or FY13, with the exception of Mr. Corbett, whose above-market earnings on deferred income were
$1,320 in FY15, $1,008 in FY14, and $721 in FY13.