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MRLN » Topics » Ownership Guidelines

This excerpt taken from the MRLN DEF 14A filed Sep 18, 2009.
Ownership Guidelines
 
In an effort to ensure that the Executive Officers and other officers and managers of the Corporation maintain sufficient equity ownership so that their thinking and actions are aligned with the interests of our shareholders,


34

 

the Corporation adopted in 2006 management ownership guidelines, which apply to all participants in the equity-based incentive award program. The ownership guidelines are summarized below:
 
  •  Ownership that counts toward the guidelines is (i) all unrestricted stock of the Corporation owned outright by the participant and (ii) the net value of vested, unexercised options.
 
  •  The ownership guideline is measured as a percentage of the participant’s base salary.
 
  •  Participants are divided into three tiers with different guidelines. The ownership requirements for each tier over three years are set forth below:
 
                             
        Equity Ownership Guidelines (% of Salary)  
Tier
 
Participants
  Year 1     Year 2     Year 3  
 
I
  Senior Management     100 %     150 %     200 %
II
  Officers     50 %     75 %     100 %
III
  Managers     25 %     30 %     35 %
 
  •  Compliance will be reviewed at least annually.
 
If an equity incentive program participant sells shares of the Corporation while such participant is not in compliance with the ownership guidelines, the Compensation Committee will take this into account prior to making additional equity awards to such participant.
 
As of January 9, 2009, none of the Executive Officers were in compliance with the ownership guidelines.
 
These excerpts taken from the MRLN 10-K filed Apr 30, 2009.
Ownership Guidelines
 
In an effort to ensure that the Executive Officers and other officers and managers of the Corporation maintain sufficient equity ownership so that their thinking and actions are aligned with the interests of our shareholders, the Corporation adopted in 2006 management ownership guidelines, which apply to all participants in the equity-based incentive award program. The ownership guidelines are summarized below:
 
  •  Ownership that counts toward the guidelines is (i) all unrestricted stock of the Corporation owned outright by the participant and (ii) the net value of vested, unexercised options.
 
  •  The ownership guideline is measured as a percentage of the participant’s base salary.
 
  •  Participants are divided into three tiers with different guidelines. The ownership requirements for each tier over three years are set forth below:
 
                                 
          Equity Ownership Guidelines (% of Salary)  
Tier
   
Participants
  Year 1     Year 2     Year 3  
 
  I     Senior Management     100 %     150 %     200 %
  II     Officers     50 %     75 %     100 %
  III     Managers     25 %     30 %     35 %
 
  •  Compliance will be reviewed at least annually.
 
If an equity incentive program participant sells shares of the Corporation while such participant is not in compliance with the ownership guidelines, the Compensation Committee will take this into account prior to making additional equity awards to such participant.
 
As of January 9, 2009, none of the Executive Officers were in compliance with the ownership guidelines.
 
Ownership
Guidelines


 



In an effort to ensure that the Executive Officers and other
officers and managers of the Corporation maintain sufficient
equity ownership so that their thinking and actions are aligned
with the interests of our shareholders, the Corporation adopted
in 2006 management ownership guidelines, which apply to all
participants in the equity-based incentive award program. The
ownership guidelines are summarized below:


 




































  • 
Ownership that counts toward the guidelines is (i) all
unrestricted stock of the Corporation owned outright by the
participant and (ii) the net value of vested, unexercised
options.
 
  • 
The ownership guideline is measured as a percentage of the
participant’s base salary.
 
  • 
Participants are divided into three tiers with different
guidelines. The ownership requirements for each tier over three
years are set forth below:


 












































































































                                 

 

 

 

 

 

Equity Ownership Guidelines (% of Salary)

 


Tier


 

 


Participants


 

Year 1

 

 

Year 2

 

 

Year 3

 
 

 

I

 

 

Senior Management

 

 

100

%

 

 

150

%

 

 

200

%

 

II

 

 

Officers

 

 

50

%

 

 

75

%

 

 

100

%

 

III

 

 

Managers

 

 

25

%

 

 

30

%

 

 

35

%






 
















  • 
Compliance will be reviewed at least annually.


 



If an equity incentive program participant sells shares of the
Corporation while such participant is not in compliance with the
ownership guidelines, the Compensation Committee will take this
into account prior to making additional equity awards to such
participant.


 



As of January 9, 2009, none of the Executive Officers were
in compliance with the ownership guidelines.


 




Ownership
Guidelines


 



In an effort to ensure that the Executive Officers and other
officers and managers of the Corporation maintain sufficient
equity ownership so that their thinking and actions are aligned
with the interests of our shareholders, the Corporation adopted
in 2006 management ownership guidelines, which apply to all
participants in the equity-based incentive award program. The
ownership guidelines are summarized below:


 




































  • 
Ownership that counts toward the guidelines is (i) all
unrestricted stock of the Corporation owned outright by the
participant and (ii) the net value of vested, unexercised
options.
 
  • 
The ownership guideline is measured as a percentage of the
participant’s base salary.
 
  • 
Participants are divided into three tiers with different
guidelines. The ownership requirements for each tier over three
years are set forth below:


 












































































































                                 

 

 

 

 

 

Equity Ownership Guidelines (% of Salary)

 


Tier


 

 


Participants


 

Year 1

 

 

Year 2

 

 

Year 3

 
 

 

I

 

 

Senior Management

 

 

100

%

 

 

150

%

 

 

200

%

 

II

 

 

Officers

 

 

50

%

 

 

75

%

 

 

100

%

 

III

 

 

Managers

 

 

25

%

 

 

30

%

 

 

35

%






 
















  • 
Compliance will be reviewed at least annually.


 



If an equity incentive program participant sells shares of the
Corporation while such participant is not in compliance with the
ownership guidelines, the Compensation Committee will take this
into account prior to making additional equity awards to such
participant.


 



As of January 9, 2009, none of the Executive Officers were
in compliance with the ownership guidelines.


 




This excerpt taken from the MRLN DEF 14A filed Apr 24, 2007.
Ownership Guidelines
 
In an effort to ensure that the Executive Officers and other officers and managers of the Corporation maintain sufficient equity ownership so that their thinking and actions are aligned with the interests of our shareholders, the Corporation adopted in 2006 management ownership guidelines, which apply to all participants in the equity-based incentive award program. The ownership guidelines are summarized below:
 
•  Ownership that counts toward the guidelines is (i) all unrestricted stock of the Corporation owned outright by the participant and (ii) the net value of vested, unexercised options.
 
•  The ownership guideline is measured as a percentage of the participant’s base salary.


14

Table of Contents

 
•  Participants are divided into three tiers with different guidelines. The ownership requirements for each tier over three years are set forth below:
 
                                 
          Equity Ownership Guidelines (% of Salary)  
Tier
   
Participants
  Year 1     Year 2     Year 3  
 
  I     Senior Management     100 %     150 %     200 %
  II     Officers     50 %     75 %     100 %
  III     Managers     25 %     30 %     35 %
 
•  Compliance will be reviewed at least annually.
 
If an equity incentive program participant sells shares of the Corporation while such participant is not in compliance with the ownership guidelines, the Compensation Committee will take this into account prior to making additional equity awards to such participant.
 
As of February 28, 2006, Mr. Dyer and Mr. Pelose were in compliance for the first year of the program (Ms. Wilson did not join the Corporation until June 2006).
 

EXCERPTS ON THIS PAGE:

DEF 14A
Sep 18, 2009
10-K (3 sections)
Apr 30, 2009
DEF 14A
Apr 24, 2007

RELATED TOPICS for MRLN:

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