SEC Document


Table of Contents

 

EXECUTIVE COMPENSATION (CONTINUED)

 

 

 

 

 

 

Option Awards

 

 

 

 

 

 

Stock Awards

 

 

 Name
 (a)
 

Number of

Securities

Underlying

Unexercised

Options

(#)

Exercisable

(b)

   

Number of

Securities

Underlying

Unexercised

Options

(#)

Unexercisable

(c)

   

Equity

Incentive

Plan

Awards:

Number of

Securities

Underlying

Unexercised

Unearned

Options

(#)

(d)

   

Option

Exercise

Price

($)

(e)

   

Option

Expiration

Date

(f)

   

Number

of Shares

or Units

of Stock

That Have

Not

Vested

(#)

(g)

   

Market

Value of

Shares or

Units of

Stock

That

Have Not

Vested

($)(1)

(h)

   

Equity

Incentive

Plan

Awards:

Number

of

Unearned

Shares,

Units or

Other

Rights

That

Have Not

Vested

(#)(2)

(i)

   

Equity

Incentive

Plan

Awards:

Market or

Payout

Value

of Unearned

Shares,

Units

or Other

Rights That

Have Not

Vested

($)(3)

(j)

 

 

Edward W. Moore

                 

SERP

                 

Restricted Stock

              8,048 (16)      436,443      

PERS

              57,000 (17)      3,091,110      

PERS

                  15,000 (6)      813,450 (6) 

PCRS

                  16,000 (7)      867,680 (7) 

SARs

    0       7,500 (8)        33.8000       7/18/2023          
    15,000       15,000 (9)        44.6000       7/21/2024          
    7,500       22,500 (10)        47.1400       7/20/2025          
      0       30,000 (11)              50.9900       7/25/2026                                  

 

Janeen B. Kastner

                 

SERP

                 

Restricted Stock

              17,848 (18)      967,897      

PERS

              21,200 (19)      1,149,676      

PERS

                  15,000 (6)      813,450 (6) 

PCRS

                  16,000 (7)      867,680 (7) 

SARs

    15,000       15,000 (9)        44.6000       7/21/2024          
    7,500       22,500 (10)        47.1400       7/20/2025          
      0       30,000 (11)              50.9900       7/25/2026                                  

 

(1) Market value of Common Stock reported in column (h) was calculated by multiplying $54.23, the closing market price of the Company’s Common Stock on May 31, 2017, the last business day of fiscal 2017, by the number of shares.

 

(2) Represents the maximum number of shares that could be paid out.

 

(3) Market value of equity incentive awards of stock reported in column (j) was calculated by multiplying the closing market price of the Company’s Common Stock on May 31, 2017, the last business day of fiscal 2017, by the maximum number of shares that could be paid out.

 

(4) These shares of SERP restricted stock vest on the fifth anniversary of the May 31st immediately preceding the date on which each grant of restricted stock was made. These shares could vest earlier upon the death or disability of Mr. Sullivan or upon a change of control of the Company prior to those dates.

 

(5) These PERS vest according to the following schedule: 54,000 shares on July 21, 2017, 75,000 shares on July 20, 2018 and 50,000 shares on July 25, 2019.

 

(6) In July 2016, the Compensation Committee determined the maximum number of and performance goals for the award of PERS with respect to fiscal 2017. Market value reported in column (j) was calculated by multiplying the closing market price of the Company’s Common Stock on May 31, 2017 by the estimated number of shares in column (i). The performance goals for such PERS were not achieved in fiscal 2017, and therefore the Compensation Committee elected not to grant PERS to the Covered Employees and Mr. Gordon.

 

(7) The PCRS awards were made pursuant to the 2014 Omnibus Plan and are contingent upon the level of attainment of performance goals for the three-year period from June 1, 2015 ending May 31, 2018. The determination of whether and to what extent the PCRS awards are achieved will be made following the close of fiscal year 2018. The amounts set forth in columns (i) and (j) assume the maximum amount of PCRS are awarded.

 

(8) These SARs become exercisable on July 18, 2017.

 

(9) These SARs become exercisable in two equal installments on July 21, 2017 and July 21, 2018.

 

(10) These SARs become exercisable in three equal installments on July 20, 2017, July 20, 2018 and July 20, 2019.

 

(11) These SARs become exercisable in four equal installments on July 25, 2017, July 25, 2018, July 25, 2019 and July 25, 2020.

 

(12) These shares of SERP restricted stock vest on November 7, 2017, except for the 2013, 2014, 2015 and 2016 grants which will vest according to schedule on May 31, 2018, May 31, 2019, May 31, 2020 and May 31, 2021, respectively, or earlier upon the death or disability of Mr. Rice or upon a change in control of the Company prior to that date.

 

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