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SWY » Topics » Compensation Objectives and Philosophy

This excerpt taken from the SWY DEF 14A filed Mar 27, 2009.

Compensation Objectives and Philosophy

 

Our compensation programs for our executive officers are designed to attract and retain excellent managers and to motivate these managers to increase the market value of our stock over the long term. In support of these principal objectives, our compensation programs are designed to:

 

  •  

Provide our executives with base salaries, retirement and other benefits and perquisites that are competitive with those provided by other companies with whom we compete for executive talent;

  •  

Pay annual bonuses that reward our executives for the attainment of our annual financial, operational and strategic goals;

  •  

Grant our executives equity-based compensation that will motivate them to improve our long-term performance and, specifically, to increase the market value of our stock price over time, in addition to helping retain those executives; and

  •  

Motivate our executives to improve their individual performances.

 

In comparison to similar companies, we believe our compensation programs place greater emphasis on the achievement of Company-wide goals, rather than on the achievement of individual goals. We also believe that, in compensating our executives, we place greater emphasis than other companies on the objective of increasing the market value of our stock. We believe both of these points of difference help align the interests of our executives with those of our stockholders, promote the objective of compensating our executives for Company-wide performance and advance our objective of increasing stockholder returns.

 

Our principal compensation policies are:

 

  •  

To provide base salaries in the aggregate that are slightly below the median of our peer group (described below);

  •  

To set target total cash compensation (salary plus bonus) at levels at, or slightly below, the peer group median;

  •  

To pay performance-based compensation and long-term equity compensation in excess of the peer group median when we outperform others in the industry or other appropriate measurement groups; and

  •  

To place at risk, meaning subject to fluctuation based on our financial performance, a significant portion of each executive’s target total direct compensation (salary plus bonus plus long-term equity compensation). The at-risk components of target total direct compensation are bonus and long-term equity compensation. In general, the at-risk portion of target total direct compensation is progressively greater for more highly-compensated positions. The at-risk portions of 2008 target total direct compensation for the named executive officers were as follows:

 

Named Executive Officer

  

2008 At-Risk Portion of

Target Total Direct Compensation

Steven A. Burd

   87%

Robert L. Edwards

   81%

Larree M. Renda

   81%

Bruce L. Everette

   81%

Robert A. Gordon

   72%

 

19

Table of Contents
This excerpt taken from the SWY DEF 14A filed Apr 2, 2008.

Compensation Objectives and Philosophy

 

Our compensation programs for our executive officers are designed to attract and retain excellent managers and to motivate these managers to increase the market value of our stock over the long term. In support of these principal objectives, our compensation programs are designed to:

 

  •  

Provide our executives with base salaries, retirement and other benefits and perquisites that are competitive with those provided by other companies with whom we compete for executive talent;

  •  

Pay annual bonuses that reward our executives for the attainment of our annual financial, operational and strategic goals;

  •  

Grant our executives equity-based compensation that will motivate them to improve our long-term performance and, specifically, to increase the market value of our stock price over time, in addition to helping retain those executives; and

  •  

Motivate our executives to improve their individual performances.

 

In comparison to similar companies, we believe our compensation programs place greater emphasis on the achievement of Company-wide goals, rather than on the achievement of individual goals. We also believe that, in compensating our executives, we place greater emphasis than other companies on the objective of increasing the market value of our stock. We believe both of these points of difference help align the interests of our executives with those of our stockholders, promote the objective of compensating our executives for Company-wide performance and advance our objective of increasing stockholder returns.

 

Our principal compensation policies are:

 

  •  

To provide base salaries in the aggregate that are slightly below the median of our peer group (described below);

  •  

To set target total cash compensation (salary plus bonus) at levels at, or slightly below, the peer group median; and

  •  

To pay performance-based compensation and long-term equity compensation in excess of the peer group median when we outperform others in the industry or other appropriate measurement groups.

 

EXCERPTS ON THIS PAGE:

DEF 14A
Mar 27, 2009
DEF 14A
Apr 2, 2008

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