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HSY » Topics » What was the Companys 2008 executive compensation program designed to reward?

This excerpt taken from the HSY DEF 14A filed Mar 16, 2009.

What was the Company’s 2008 executive compensation program designed to reward?

We reward financial results. We link a significant amount of our executive officers’ pay to achievement of our financial goals. We use stock options, PSUs and restricted stock units, or RSUs, for long-term compensation. If we achieve strong financial performance relative to our goals and our stock price appreciates, our executives will earn significant rewards. If our stock price lags, compensation under these equity programs will be lower or eliminated. If our annual financial performance falls below our AIP target goals, our executives do not receive awards at target and may not receive any award at all. An executive officer’s performance rating can affect the level of his or her base salary as well as the target level of his or her incentive compensation awards. In addition, employees at all levels of the organization, including executive officers, continue to be evaluated for exemplifying our values.

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