|
|
 | | | |
- close
- close
- close
- close
| |||||||||
This excerpt taken from the DKS DEF 14A filed Apr 24, 2006. Annual Bonus. Awards
of annual bonuses to executive officers who are subject to
Section 162(m) of the Internal Revenue Code were set by the
Compensation Committee, and all other bonuses paid to
non-executive officers were made in accordance with a formula
established by the Compensation Committee and Chief Executive
Officer.
Under the Company’s annual bonus program, executive officers and certain other employees are eligible to receive cash bonuses based upon the Company’s attainment of specific performance goals, primarily total Company pre-tax earnings, as recommended by the Chief Executive Officer and approved by the Compensation Committee. Target incentive bonus opportunities are established at the beginning of the fiscal year as measured by earnings before taxes at the total Company level. A specified percentage of a bonus program participant’s annual salary is used to determine any amount to be paid. A threshold level of performance is established below which no bonus award is paid, levels of performance at which specified percentages of the target bonus will be paid, and a maximum level of performance above which no additional bonus would be paid. The fiscal 2005 bonus programs specified that the maximum bonus payable to the Chief Executive Officer is limited to four (4) times annual salary, the maximum bonus payable to the President and Chief Operating Officer, the Executive Vice President and Chief Administrative Officer and the Executive Vice President and Chief 15
Table of Contents
Financial Officer is limited to 1.5 times
annual salary and the maximum bonus payable to the former Senior
Vice President Merchandising is limited to .75 times annual
salary. For fiscal 2005, no bonus payments under the 2005 bonus
program were made to the named executive officers of the Company
who are potentially subject to Section 162(m) of the
Internal Revenue Code.
However, as a result of the Company’s fiscal 2005 operating results, which significantly exceeded the Company’s prior year’s results, the Committee determined that discretionary awards would be paid to eligible Company employees. In connection with this determination, the Company paid Messrs. Stack, Colombo, Newlin and Hines cash bonuses of $1,040,000, $300,000, $300,000 and $270,000 respectively.
This excerpt taken from the DKS DEF 14A filed Apr 25, 2005. Annual Bonus. Awards
of annual bonuses to executive officers who are subject to
Section 162(m) of the Internal Revenue Code were made by
the Compensation Committee, and all other bonuses paid to
non-executive officers were made in accordance with a formula
established by the Compensation Committee and Chief Executive
Officer.
Under the Company’s annual bonus program, executive officers and certain other employees are eligible to receive cash bonuses based upon the Company’s attainment of specific performance goals, primarily total Company pre-tax earnings, as recommended by the Chief Executive Officer and approved by the Compensation Committee. Target incentive bonus opportunities are established at the beginning of the fiscal year as measured by earnings before taxes at the total Company level. A specified percentage of a bonus program participant’s annual salary is used to determine any amount to be paid. A threshold level of performance is established below which no bonus award is paid, levels of performance at which specified percentages of the target bonus will be paid, and a maximum level of performance above which no additional bonus would be paid. The fiscal 2004 bonus programs specified that the maximum bonus payable to the Chief Executive Officer is limited to four (4) times annual salary and the maximum bonus payable to the President and Chief Operating Officer, the Executive Vice President and Chief Administrative Officer and the Executive Vice President and Chief Financial Officer is limited to 1.5 times annual salary and .75 times the annual salary for the Senior Vice President Merchandising.
| EXCERPTS ON THIS PAGE:
RELATED TOPICS for DKS: |
| |||||||
