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BPOP » Topics » Objectives of the Executive Compensation Program

This excerpt taken from the BPOP DEF 14A filed Mar 13, 2009.
Objectives of the Executive Compensation Program
 
The Corporation’s total compensation philosophy is designed to provide higher pay for superior performance, which the Corporation feels is consistent with the goal of building long-term value for shareholders, without encouraging executives to take unnecessary and excessive risks. The compensation program’s goals are to:
 
  •     motivate high levels of individual performance, coupled with increased shareholder returns;
 
  •     attract and retain seasoned executives at competitive pay levels;
 
  •     reward contributions and results in attaining key operating objectives over which the executives have control or influence; and
 
  •     promote teamwork and collaboration among the executive team.
 
The compensation analysis begins with a review of the Corporation’s strategic objectives and business plans, followed by an analysis of each NEO’s scope of responsibility, market competitive assessments of comparable positions at the peer institutions, and the relationship between pay and performance (i.e., degree of achievement of the Corporation’s short-term results and long-term growth objectives). The Corporation evaluates whether its compensation programs meet the Corporation’s goals by monitoring engagement and retention of executives, and by assessing the relationship between company and individual performance and actual payouts.
 
 
25 POPULAR, INC. 2009 PROXY STATEMENT

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