HXL » Topics » Base Salary.

This excerpt taken from the HXL DEF 14A filed Apr 5, 2007.
Base Salary.   Base salary is the fixed element of employees’ annual cash compensation. The committee sets base salaries for NEOs using the comparative data described above under “Benchmarking” as a guide and targets the mid-range of the comparator group, but is also influenced by various other factors. These factors include job responsibilities, individual performance, retention risk, and experience. In setting base salaries, the committee also considers the corporate “merit budget,” meaning our overall budget for base salary increases. The objective of the merit budget, which is reviewed and approved by the committee, is to foster salary increases for successful performers that are competitive within the economic climates of the regions in which we conduct business, while maintaining affordability within our business plan.

Mr.  Berges’ salary was increased from $775,000 in 2005 to $837,000 in 2006. In addition to the information described above under “Benchmarking,” the committee considered the following:

·       Mr. Berges’ performance in 2005, which was reflected by our improved financial performance including an approximate 25% increase in the stock price during 2005

·       Mr. Berges’ performance against his personal objectives, as discussed under “Original Performance Measures” on page 19

·       The elimination of various perquisites to which Mr. Berges was entitled prior to 2006

As discussed above, the CEO presented his recommendations regarding base salary increases for our other NEOs to the committee for consideration. For 2006 Mr. Berges recommended, and the committee approved, base salary increases ranging from 3% to 5% for our other NEOs. The average salary increase for our NEOs, other than Mr. Berges, was 3.5%, consistent with our overall corporate “merit” budget.

For our CEO, salary in 2006 would have comprised approximately 24% of total annual direct compensation assuming that performance-based cash and equity incentive amounts were paid out at target. For the other NEOs, on the same basis salary would have comprised between 30% and 37% of total annual direct compensation.

This excerpt taken from the HXL DEF 14A filed Apr 4, 2006.

Base Salary

We establish base salaries for executives that, in the aggregate, approximate the median salaries of comparable positions for the comparator group. Base salaries for the NEOs are reviewed annually, and generally adjusted when warranted based on Hexcel’s financial performance and market comparisons and trends. Effective January 2005 we approved salary increases for the NEOs, other than Mr. Berges, which averaged 4.2% over 2004 salaries.

This excerpt taken from the HXL DEF 14A filed Apr 15, 2005.

Base Salary

        We establish base salaries for executives that, in the aggregate, approximate the median salaries of comparable positions for the comparator group. Base salaries for the NEOs are reviewed annually, and generally adjusted when warranted based on Hexcel's financial performance and market comparisons and trends. Effective January 2004 we approved salary increases for the NEOs, other than Mr. Berges, which averaged 3.7% over 2003 salaries.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki