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PBG » Topics » What are the highlights of our 2007 executive compensation program as described in this CD&A?

This excerpt taken from the PBG DEF 14A filed Apr 10, 2008.
What are the highlights of our 2007 executive compensation program as described in this CD&A?
 
  •  The primary objectives of our compensation program are to attract, retain, and motivate talented and diverse domestic and international executives
 
  •  We provide our executive officers with the following types of compensation: base salary, short-term performance-based cash incentives, and long-term performance-based equity incentive awards
 
  •  We believe that to appropriately motivate our senior executives to achieve and sustain the long-term growth of the Company, a majority of their compensation should be tied to the performance of the Company
 
  •  We use equity-based compensation as a means to align the interests of our executives with those of our shareholders
 
  •  We believe the design of our executive compensation program drives performance in a financially responsible way that is sensitive to the dilutive impact on shareholders
 
  •  We generally target total compensation within the third quartile of companies within our peer group of companies
 
  •  We have never backdated or re-priced equity awards and we do not time our equity award grants relative to the release of material non-public information
 
  •  Our executive officers do not have employment, severance or change-in-control agreements
 
  •  We do not provide any gross-ups for potential excise taxes that may be incurred in connection with a change-in-control of the Company
 
  •  We have a policy in place to recoup compensation from an executive who has engaged in misconduct
 
  •  Our executives participate in the same group benefit programs, at the same levels, as all employees
 
  •  Excellent Company performance in 2007 resulted in annual cash incentive payouts well above target amounts
 
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