Send us Feedback

Walt Disney Company (DIS)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

DIS » Topics » Share

This excerpt taken from the DIS 8-K filed Oct 6, 2005.
Share”) (i.e., one Stock Unit is equivalent in value to one Share). The Stock Units constitute Restricted Units as defined in Section 2.2 of the Performance Plan.

(b)       Vesting. Subject to the continued employment requirement specified below, the Stock Units shall become vested, if at all, based upon, and solely to the extent that, as of the applicable Measurement Date and the end of the Performance Period (as each such term is defined below) ending on such Measurement Date, each of the following performance criteria are achieved:

(A)

the TSR (as defined below) of the Company meets or exceeds the TSR for the Standard & Poor’s 500 Composite Index (the “S&P 500 Index”) in each case, as reported by Bloomberg L.P. (or such other reporting service that the Committee may designate from time to time) with respect to:

 

(i)

the performance periods which are established in the TSR Table set forth below by reference to the Measurement Dates set forth therein, and

 

 

 

3

 

 


 

 

 

(ii)

the number of Stock Units eligible for vesting at the end of such performance period (also determined in accordance with the table set forth below) and

 

(B)

the 162(m) Performance Condition (as defined below) is satisfied.

For the avoidance of doubt, if and to the extent that one type of performance condition applicable to any of the Stock Units (i.e., either a TSR condition or a 162(m) Performance Condition, as the case may be) is not satisfied as of the applicable Measurement Date, such Stock Units shall not vest as of such date regardless of whether the other type of performance condition is achieved. However, any Stock Units that could, but do not, vest as of the last day of the fiscal year ending on or about September 30, 2008 or September 30, 2009 because either or both the TSR condition or the 162(m) Performance Condition are not met as of such date shall become vested as of the last day of the fiscal year ending on or about September 30, 2009 or September 30, 2010, as the case may be, if and to the extent that the applicable performance criteria are met as of such date. For example, subject to satisfaction of the continued employment requirement set forth below, if the TSR condition and/or 162(m) Performance Condition is not satisfied as of on the last day of the fiscal year ending on or about September 30, 2008, no Stock Units will vest as of the last day of such fiscal year, but if the TSR condition is satisfied and the 162(m) Performance Condition is achieved as of the last day of the fiscal year ending on or about September 30, 2009, Executive shall become vested in 80% of the Stock Units as of the last day of such fiscal year.

TSR TABLE

 

 

TSR Shall be Measured from Commencement Date to (each such date being hereinafter referred to as a “Measurement Date”):

 

 

 

Company’s TSR at the Applicable Measurement Date

 

 

Aggregate Cumulative Percentage of Total Number of Stock Units That Become Vested

 

The end of the fiscal year ending on or about September 30, 2008

 

Meets or exceeds the S&P 500 Index TSR (as defined below) for the relevant period

60%

 

The end of the fiscal year ending on or about September 30, 2009

 

Meets or exceeds the S&P 500 Index TSR for the relevant period

80%

 

The end of the fiscal year ending on or about September 30, 2010

 

Meets or exceeds the S&P 500 Index TSR for the relevant period

100%

 

The Committee shall establish, in accordance with the requirements of Section 162(m), one or more performance conditions from among the performance objectives permitted under the Performance Plan (the “

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki