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VRSN » Topics » Executive Compensation Philosophy, Framework and Implementation

This excerpt taken from the VRSN DEF 14A filed Jul 27, 2007.

Executive Compensation Philosophy, Framework and Implementation

VeriSign operates in a highly competitive and rapidly changing business environment. Our executive compensation program seeks to motivate executives to achieve our business objectives, foster teamwork, and attract and retain highly talented executives who will contribute to our long-term success.

Our executive officer compensation program is based on the following principles:

 

  •  

Performance: a significant portion of each executive officer’s total compensation should depend on the achievement of corporate objectives and the creation of stockholder value. Compensation should be directly and substantially linked to measurable corporate and individual performance, and provide incentives for superior performance that will drive demonstrable business impact;

 

  •  

Alignment: compensation should closely align the interests of our executive officers with the long-term interests of our stockholders; and

 

  •  

Retention: compensation should be competitive with that offered by other leading high technology companies we view as our peers and as competitors for the employment of talented executives.

 

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Non-GAAP financial information does not include the following types of financial measures that are included in GAAP: amortization of purchased intangible assets, in-process research and development, stock-based compensation expense, litigation settlements, gain/loss from the Jamba joint venture, restructuring, impairment of assets and acquisition-related reserve costs, impairment charges for goodwill and purchased intangible assets, internal review costs, release of deferred tax asset valuation allowances, and the net gain/loss or impairment of investments.

 

We use a combination of base salary and benefits, annual incentive bonus, and long-term incentive compensation, such as stock options and restricted stock units, to achieve our objectives. The combined mix of compensation elements allows us to provide a competitive total rewards package for our executive officers that reflects our pay-for-performance philosophy. The Compensation Committee exercises its discretion in determining compensation for our executive officers, and compensation decisions are made after reviewing the performance of the Company and each executive’s performance during the year against established goals, current compensation arrangements, market trends, and the compensation history of the executive officer relative to the other executives. Specific factors affecting compensation decisions include:

 

 

•

  

key financial measurements such as revenue and cash flow, as well as non-GAAP operating income, operating margin, and earnings per share1

 

  •  

strategic objectives, such as acquisitions, divestitures, innovation and segment expansion

 

  •  

organizational development improvements relative to the executive’s organizational responsibility and among their employees

 

  •  

adherence to the Company’s values.

This excerpt taken from the VRSN 10-K filed Jul 12, 2007.

Executive Compensation Philosophy, Framework and Implementation

 

VeriSign operates in a highly competitive and rapidly changing business environment. Our executive compensation program seeks to motivate executives to achieve our business objectives, foster teamwork, and attract and retain highly talented executives who will contribute to our long-term success.

 

Our executive officer compensation program is based on the following principles:

 

  •  

Performance:    a significant portion of each executive officer’s total compensation should depend on the achievement of corporate objectives and the creation of stockholder value. Compensation should be directly and substantially linked to measurable corporate and individual performance, and provide incentives for superior performance that will drive demonstrable business impact;

 

  •  

Alignment:    compensation should closely align the interests of our executive officers with the long-term interests of our stockholders; and

 

  •  

Retention:    compensation should be competitive with that offered by other leading high technology companies we view as our peers and as competitors for the employment of talented executives.

 

 

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We use a combination of base salary and benefits, annual incentive bonus, and long-term incentive compensation, such as stock options and restricted stock units, to achieve our objectives. The combined mix of compensation elements allows us to provide a competitive total rewards package for our executive officers that reflects our pay-for-performance philosophy. The Compensation Committee exercises its discretion in determining compensation for our executive officers, and compensation decisions are made after reviewing the performance of the Company and each executive’s performance during the year against established goals, current compensation arrangements, market trends, and the compensation history of the executive officer relative to the other executives. Specific factors affecting compensation decisions include:

 

 

•

  

key financial measurements such as revenue and cash flow, as well as non-GAAP operating income, operating margin, and earnings per share1

 

  •  

strategic objectives, such as acquisitions, divestitures, innovation and segment expansion

 

  •  

organizational development improvements relative to the executive’s organizational responsibility and among their employees

 

  •  

adherence to the Company’s values.

 

EXCERPTS ON THIS PAGE:

DEF 14A
Jul 27, 2007
10-K
Jul 12, 2007

RELATED TOPICS for VRSN:

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