This excerpt taken from the PBG DEF 14A filed Mar 31, 2006.
Long-Term Incentive. The Committee awarded Mr. Cahill 621,239 stock options under the LTIP for 2005. As validated by the Committees independent, external advisor, these awards are reflective of his performance, role and responsibilities and the Committees goal of targeting long-term compensation within the third quartile of the peer group companies. Mr. Cahills stock option award is subject to the same terms and conditions as the awards to other executives. The Committee also awarded Mr. Cahill a special grant of 179,598 performance based RSUs in connection with the Companys executive retention and succession planning objectives. Mr. Cahills RSU award vests 33% on December 31, 2006, 33% on December 31, 2007 and 34% on December 31, 2008 provided he is employed through each such vesting date and provided further that the performance-based vesting condition based on the achievement of a pre-established 2006 earnings per share target, approved by the Committee, has been met. In addition, no vested RSUs are payable until two years following the vesting date except in the event of disability or death.
Mr. Cahills awards are set out in the Restricted Stock/ Unit Awards column of the Summary Compensation Table on page 11 and the Option Grants in Last Fiscal Year Table on page 14.