Vistaprint 2015 Annual Report Download - page 150

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(4) $4,783 of this amount represents the reimbursement of business travel expenses for Mr. Keane's attendance at
meetings of Cimpress' Management Board, tax preparation fees, and associated tax gross-up payments, and $1,417 of
this amount represents the payment of wire transfer fees for amounts being deposited in European accounts. Although
the reimbursement of business travel expenses would not be taxable to Mr. Keane in the United States and although Mr.
Keane is not a resident of the Netherlands, under his ruling with the Dutch tax authorities, this reimbursement is
considered taxable income to Mr. Keane. Because Mr. Keane should not be financially penalized as a result of taxation
by the country in which Cimpress is incorporated, we gross up the reimbursement payments to offset the increased tax
liability to him.
(5) $860,604 of this amount represents a lump sum payment of taxes for 2013 and 2014 and associated tax gross-up
amounts relating to Ms. Blake's expatriate payments for her assignment in Paris, $236,213 of this amount represents
French taxes paid relating to the vesting of restricted share units during Ms. Blake's assignment in Paris, and $7,800 of
this amount represents our matching contributions under Cimpress USA’s 401(k) deferred savings plan.
(6) This amount represents our matching contributions under Cimpress USA’s 401(k) deferred savings retirement plan.
(7) $33,650 of this amount represents payments of school tuition for Mr. Teunissen’s children, and $1,417 of this amount
represents the payment of wire transfer fees for amounts being deposited in European accounts.
(8) Mr. Teunissen resigned as an executive officer in October 2015.
Grants of Plan-Based Awards in the Fiscal Year Ended June 30, 2015
The following table contains information about plan-based awards granted to each of our named executive
officers during the fiscal year ended June 30, 2015.
All Other
Share Awards:
Number of
Shares or
Share Units
Grant Date
Fair Value of
Share Awards
Estimated Possible Payouts
Under Non-Equity Incentive Plan Awards
Threshold Target Maximum
Name Grant Date ($)(1) ($)(2) ($)(3)
(#)(4) ($)(5)
Robert S. Keane ............................. 9/28/2014(6) — 847,983 1,695,966 ——
Katryn S. Blake ............................... 9/28/2014 — 335,000 670,000 ——
5/19/2015 14,331 1,205,954
Donald R. Nelson ........................... 9/28/2014 — 220,000 440,000 ——
5/19/2015 9,506 799,930
Ernst J. Teunissen(7) ...................... 9/28/2014(6) — 297,243 594,486 ——
5/19/2015 9,506 799,930
_____________
(1) The amounts reported in this column represent the amounts that would have been payable under our named executive
officers’ annual cash incentive awards if we did not achieve our minimum constant currency revenue and adjusted EPS
goals.
(2) These amounts represent payments that our named executive officers would have received under their fiscal 2015
annual cash incentive awards for 100% achievement of our adjusted EPS and constant currency revenue goals for
fiscal 2015. You can find more information on the amounts actually paid to our executive officers under their fiscal 2015
annual cash incentive awards above in the Compensation Discussion and Analysis section of this Supervisory Board
Report.
(3) These amounts represent the maximum amounts that would have been payable under our named executive officers’
annual cash incentive awards for our fiscal year ended June 30, 2015. The payout under each executive officer's
annual cash incentive is capped at 200% of the executive officer’s target amount. In fact, based on our achievement of
our goals for fiscal 2015, our executive officers received payments that were less than these amounts. You can find
more information on the amounts actually paid to our executive officers under their annual cash incentive awards
above in the Compensation Discussion and Analysis section of this Supervisory Board Report.
(4) The amounts reported in this column represent restricted share units granted under our 2011 Equity Incentive Plan that
vest over a period of four years: 25% one year after they are granted and 6.25% per quarter thereafter. As the
restricted share units vest, we automatically issue the vested shares to the employee; the employee does not need to
exercise them or pay any amount to us for the purchase of the shares.
(5) The amounts reported in this column represent the grant date fair value for each executive officer’s share-based
awards computed in accordance with FASB ASC Topic 718. You can find the assumptions we used in the calculations
for these amounts in Note 12 to our audited financial statements included in our Annual Report on Form 10-K for the
fiscal year ended June 30, 2015.