PFG » Topics » Stock Ownership Guidelines

This excerpt taken from the PFG DEF 14A filed Apr 8, 2009.

Stock Ownership Guidelines

        Executives are required to own stock in the Company to ensure their interests are aligned with the shareholders' interests. This requirement is based on multiples of base salary and job level. Executives must obtain the required level of stock ownership within five years of attaining their job level. The amount of stock ownership is determined by multiplying the shares or interests owned by the stock price at any given point in time. Once this guideline is met, Executives will not need to make additional share purchases if the guideline is no longer met due to a reduction in stock price, as long as the Executive's ownership level is not reduced as a result of share sales. All of the Named Executive Officers meet these guidelines or are on track to meeting them.

        The guidelines are:

Executive Level
  Ownership Value as a
Multiple of Base Salary

CEO(1)

  5 times

Division Presidents and Executive Vice Presidents(2)

  3 times

Senior Vice Presidents(3)

  2 times

      (1)
      Mr. Zimpleman

      (2)
      Mr. Houston, Mr. McCaughan and Mr. Sorensen

      (3)
      Mr. Lillis
This excerpt taken from the PFG DEF 14A filed Apr 9, 2007.

Stock Ownership Guidelines

        Executives are required to own stock in the Company to ensure their interests are aligned with the shareholders' interests. The ownership guidelines are based on multiples of salary: five times for the CEO, four times for the President and Chief Operating Officer and three times for Division Presidents and Executive Vice Presidents. Named Executive Officers must obtain the required level of stock ownership within five years of attaining their job level. All of the Named Executive Officers have achieved the required level of ownership, except Mr. Zimpleman, due to his recent promotion. The amount of stock ownership is determined by multiplying the shares or interests owned by the stock price at any given point in time. Categories of shares that are included in the calculation for determining whether an Executive meets the stock ownership guidelines include Common Stock; deferred stock-based units; interests in Common Stock held in Principal Life's 401(k) Plan; RSUs (vested and unvested); performance share units earned, whether paid in stock or deferred; and phantom-stock units under Principal Life's non-qualified 401(k) Plan ("Excess Plan").

This excerpt taken from the PFG DEF 14A filed Mar 31, 2006.

Stock Ownership Guidelines

        The Company expects officers at the Vice President level and above to own stock in the Company at the following multiples of base salary: five times for the CEO; three times for Division Presidents and Executive Vice Presidents; two times for Senior Vice Presidents and at the base salary level for Vice Presidents. This level of ownership is expected to be obtained within five years of the officer attaining the relevant job level. Progress towards these stock ownership requirements is reviewed on an annual basis. All of the Named Executive Officers meet these stock ownership guidelines. Common Stock, deferred stock-based unit awards under the Long-Term Performance Plan, interests in Common Stock under the 401(k) Plan, restricted stock units, performance share units earned and paid in stock or deferred, and phantom-stock units under the supplemental non-qualified defined contribution excess plan all qualify towards this ownership requirement.

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