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PG » Topics » What are the key objectives of the Companys executive compensation programs?

This excerpt taken from the PG DEF 14A filed Aug 28, 2007.

What are the key objectives of the Company’s executive compensation programs?

The Company’s executive compensation objectives are achieved through the following ongoing programs. All Named Executives participate in these programs. A more detailed discussion of each program is provided later in this Compensation Discussion and Analysis.

 

Program

  

Description

  

Participants

  

Objectives Achieved

Annual Cash Compensation

Base Salary

  

•     Annual cash compensation.

  

•     All employees

  

•     Retention

 

•     Drive Superior Performance

 

n     Individual contribution

Short-Term Achievement Reward— Annual Bonus (“STAR”)  

•     Annual bonus with target awards established at each employee level. Payments can be higher or lower than target, based on business unit and total company annual results.

  

•     All Senior Managers and Executives (including Senior Executives and Named Executives)

  

•     Drive Superior Performance

 

n      Across total company

 

n     Across business units

Long-Term Incentive Programs

Key Manager Annual Stock Grant  

•     Long-term incentive program. Paid in stock options and/or RSUs; grant amounts vary to reflect individual contribution.

  

•     All Executives (including Senior Executives and Named Executives), plus ten percent of Senior Managers

  

•     Drive Superior Performance

 

n      Individual contribution

 

n     Increase stock price

 

•     Focus on Long-term Success

 

•     Retention

 

•     Ownership

Business Growth Program Three-year Incentive (“BGP”)  

•     Long-term incentive program with compensation tied to achievement of three-year total Company goals paid in cash and RSUs.

  

•     All Senior Executives and Named Executives

  

•     Drive Superior Performance

 

n      Across total company

 

•     Focus on Long-term Success

 

•     Retention

 

18

Table of Contents

Program

  

Description

  

Participants

  

Objectives Achieved

Retirement Programs

The Procter & Gamble Profit Sharing Trust and Employee Stock Ownership Program (“PST”)  

•     Annual contribution of stock made to employees based on salary and years of service.

  

•     All full-time U.S. employees

  

•     Retention

 

•     Ownership

PST Restoration Program

  

•     Grant of RSUs to those PST participants whose Company contribution is capped by tax regulations.

  

•     Varies annually, usually around 400 recipients per year

  

•     Retention

 

•     Ownership

Other Executive Benefits

Perquisites and Executive Benefits  

•     Available to certain executives to assure protection of Company assets and/or focus on Company business with minimal disruption.

  

•     Specific benefits are offered to different groups of Executives based on business purpose

  

•     Retention

Other Benefits

  

•     Medical, welfare and other benefits.

  

•     All employees

  

•     Retention

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