SFI » Topics » Process for Determining Compensation, Including Equity Awards

This excerpt taken from the SFI DEF 14A filed Apr 27, 2009.

Process for Determining Compensation, Including Equity Awards

        Compensation decisions for our named executive officers and other employees are made annually, after reviewing the performance of the Company and carefully evaluating an individual's performance during the year against goals, leadership qualities, business responsibilities, career with the Company, current compensation arrangements, long-term potential to enhance shareholder value and other relevant data. Mr. Sugarman, our chief executive officer, and Mr. Nydick, our president, make recommendations to the Compensation Committee based on the objectives and approach set by the committee, as well as current business conditions and other factors. More specifically, for each named executive officer other than themselves, Messrs. Sugarman and Nydick review competitive market data, the rationale and guidelines for cash compensation (base salaries and annual incentives) and long-term incentive awards and make recommendations for the review, discussion and approval of the Compensation Committee. We do not engage in benchmarking. Mr. Sugarman makes recommendations to the committee with respect to Mr. Nydick's compensation. Messrs. Sugarman and Nydick may attend meetings of the Compensation Committee at the request of the committee chair, but do not attend executive sessions and do not participate in any Compensation Committee discussions relating to the final determination of their own compensation.

This excerpt taken from the SFI DEF 14A filed Apr 29, 2008.

Process For Determining Compensation, Including Equity Awards

        Compensation decisions for our named executive officers and other employees are made annually, after reviewing the performance of the company and carefully evaluating an individual's performance during the year. The base salaries for our Chief Executive Officer and President for 2007 were set in their employment agreements with the company. The Compensation Committee determined our Chief Executive Officer's annual cash bonus and long-term incentive award for 2007. Our Chief Executive Officer made recommendations to the Compensation Committee regarding the annual compensation for each of our other named executive officers.

        In early January, decisions are made with respect to base salaries for the coming year, and annual cash bonuses and long-term incentive awards for service in the previous year. All annual cash bonuses are paid on January 31 of the year following the relevant compensation year. Equity awards are generally issued in January of the year following the relevant compensation year.

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This excerpt taken from the SFI DEF 14A filed Apr 27, 2007.

Process for Determining Compensation, Including Equity Awards

Compensation decisions for our named executive officers and other employees are made annually, after reviewing the performance of the company and carefully evaluating an individual’s performance during the year against established goals, leadership qualities, business responsibilities, career with the company, current compensation arrangements, long-term potential to enhance shareholder value and

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other relevant data. The base salaries for our Chief Executive Officer and our President for 2006 were set in their employment agreements with the company. The Compensation Committee determined our Chief Executive Officer’s annual cash bonus and long-term incentive award for 2006. Our Chief Executive Officer made recommendations to the Compensation Committee regarding the annual compensation for each of our other named executive officers. In addition, in early December 2006, the members of the Compensation Committee met with each of our named executive officers, each other employee at the level of executive vice president and certain other employees to discuss their performance and that of their peers and direct reports, and to solicit their views and suggestions on company policies (including compensation policies), initiatives and resources. Prior to those meetings, each of the senior executives was asked to complete a self-evaluation and an evaluation of their peers and more senior officers. The Compensation Committee met with our Chief Executive Officer on several occasions in December to discuss the results of these interviews. The results of these interviews form part of the basis for annual compensation decisions regarding our named executive officers.

In early January, decisions are made with respect to base salaries for the coming year, and annual cash bonuses and long-term incentive awards for service in the previous year. All annual cash bonuses are paid on January 31 of the year following the relevant compensation year. In recent years, including 2006, equity-based long-term incentive awards have been in the form of restricted shares and restricted stock units that vest in equal annual installments over three years. We have not made any recent awards of stock options or other forms of equity-based awards.

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