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DEL » Topics » Long-Term Incentive Plans-Awards in Last Fiscal Year

This excerpt taken from the DEL DEF 14A filed Mar 17, 2006.

Long-Term Incentive Plans-Awards in Last Fiscal Year

 

               Estimated Future Payouts Under
Non-Stock Price-Based Plans
(a)    (b)    (c)    (d)    (e)    (f)

Name

    Number
of Shares
    Performances
Or Other
Period Until
Maturation
Or Payout (1)
    Threshold
    Target
    Maximum

Ray C. Dillon

    4,620    4 Years    2,310    4,620    9,240

Clefton D. Vaughan

    2,108    4 Years    1,054    2,108    4,216

W. Bayless Rowe

    1,801    4 Years    900    1,801    3,602

Kent L. Streeter

    2,022    4 Years    1,011    2022    4,044

David V. Meghreblian

    1,495    4 Years    747    1,495    2,990
(1)

The Executive Compensation Committee (“Committee”) made awards in 2005 pursuant to the 2002 SIP to the named executives and other plan participants of “performance based restricted stock” (designed as “Performance Units” under the 2002 SIP). Amounts awarded to the named executives are listed under column (b) above. Such awards may vest in the “threshold”, “target”, or “maximum” amounts shown in the table four years from the date of the award depending upon the Company’s total stockholder return compared to the total return of a Paper and Forest Products Index selected by the Committee and calculated by S&P (the “Index”). Awards will vest: in the threshold amount if the Company’s total stockholder return is 80 percent of the total return of the Index; in the target amount if the Company’s total stockholder return is 100 percent of the total return of the Index; and, in the maximum amount if the Company’s total stockholder return is 130 percent of the total return of the Index. Should the Company’s total stockholder return be between 80 percent and 130 percent of the total return of the Index, the award amount will be determined by interpolation. During the four-year vesting period, award recipients are entitled to vote the

 

18

 

performance based restricted stock, and receive dividends declared on the Common Stock of the Company. Should a “change-in-control” of the Company (as such term is defined in the 2002 SIP) occur during the four-year vesting period, then the performance determination will be made as of the date of the “change-in-control”.

 

This excerpt taken from the DEL DEF 14A filed Mar 23, 2005.

Long-Term Incentive Plans-Awards in Last Fiscal Year

 

              

Estimated Future Payouts

under Non-Stock Price-Based
Plans

(a)    (b)    (c)    (d)    (e)    (f)

Name

    Number
Of
Shares
    Performances
Or Other
Period Until
Maturation
Or Payout (1)
    Threshold
    Target
    Maximum

Ray C. Dillon

    4,300    4 Years    2,150    4,300    8,600

Clefton D. Vaughan

    1,471    4 Years    736    1,471    2,942

W. Bayless Rowe

    1,332    4 Years    666    1,332    2,664

Kent L. Streeter

    1,342    4 Years    671    1,342    2,684

David V. Meghreblian

    1,224    4 Years    612    1,224    2,448
1. The Executive Compensation Committee made awards in 2004 pursuant to the 2002 SIP to the named executives and other plan participants of “performance based restricted stock”. Amounts awarded to the named executives are listed under column (b) above. Such awards may vest in the “target”, “threshold” or “maximum” amounts shown in the table four years from the date of the award depending upon the Company’s total stockholder return compared to the total return of a Paper and Forest Products Index calculated by S&P (the “Index”). Awards will vest: in the threshold amount if the Company’s total stockholder return is 80 percent of the total return of the Index; in the target amount if the Company’s total stockholder return is 100 percent of the total return of the Index; and, in the maximum amount if the Company’s total stockholder return is 130 percent of the total return of the Index. Should the Company’s total stockholder return be between 80 percent and 130 percent of the total return of the Index, the award amount will be determined by interpolation. During the four-year vesting period, award recipients are entitled to vote the performance based restricted stock, and receive any regular cash dividends declared on the Common Stock of the Company. Should a “change-in-control” of the Company (as such term is defined in the 2002 SIP) occur during the four-year vesting period, then the performance determination will be made as of the date of the “change-in-control”.

 

EXCERPTS ON THIS PAGE:

DEF 14A
Mar 17, 2006
DEF 14A
Mar 23, 2005

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