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DTV » Topics » 2007 EXECUTIVE OFFICER TARGET COMPENSATION

This excerpt taken from the DTV DEF 14A filed Apr 21, 2008.

2007 EXECUTIVE OFFICER TARGET COMPENSATION

        The Committee set 2007 target compensation for the executive officers as shown in 2007 Supplementary Table 10.


2007 SUPPLEMENTARY TABLE 10—2007 EXECUTIVE OFFICER TARGET COMPENSATION

 
    
   2007 Cash Bonus
   2007 Stock Grants
  
Name of Officer
(a)
   2007 Base
Salary
($)
(b)
   Target as
% of Base
Salary
(%)
(c)
   Target
Value
($)
(d)
   Number of
Restricted
Stock Units
Granted
(#)
(e)
   Number of
Stock Options
Granted
(#)
(f)
   Target
Value
($)
(g)(4)
  
Chase Carey   2,222,000   150 % 3,333,000   N/A (1) N/A (1) N/A (1)
Patrick Doyle(2)   500,000   65 % 275,000   25,000   0   599,250  
Bruce Churchill   1,100,000   110 % 1,210,000   50,000   0   1,198,500  
Michael Palkovic(3)   800,000   80 % 514,000   47,500   0   1,138,575  
Larry Hunter   750,000   75 % 563,000   47,500   0   1,138,575  
(1)
Stock grants were made in August 2007, concurrent with the approval of Mr. Carey's new employment agreement, which is discussed further at page 44. The purpose of the stock grants is to provide incentive compensation for the three years beginning in January 2008 and no additional stock grants are currently anticipated for the remaining term of Mr. Carey's employment agreement, which expires December 31, 2010. Therefore, the stock grants are not shown as part of the targeted 2007 compensation. Aggregate grants were 428,900 restricted stock units and 1,209,400 stock options. Mr. Carey previously received, in 2004, an award of 1,300,000 restricted stock units covering the four-year employment period ending December 31, 2007. On a pro-rated basis, the annual target value for such award was approximately $5,675,000.

(2)
Salary and target bonus after becoming Senior Vice President and Chief Financial Officer in October 2007; the target bonus amount was prorated for his prior position and pay.

(3)
Salary and target bonus after becoming Executive Vice President—Operations in October 2007; the target bonus amount was prorated for his prior position and pay.

(4)
The amounts shown in column (g) are based on the $23.97 per share value of the RSUs on the grant date, February 6, 2007.

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EXECUTIVE AND DIRECTOR COMPENSATION

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