This excerpt taken from the WNR DEF 14A filed Apr 16, 2009.
Equity Compensation for 2007 Performance
We award equity compensation in an effort to ensure the long term financial rewards for our executive officers are aligned with our stockholders. Historically, all of our equity awards have been in the form of restricted stock which vests over a multiple year time frame. In 2008, we made equity awards to all of our executive officers as compensation for the executive officers 2007 performance. As with our other forms of compensation, these awards were not determined objectively. Instead, these amounts were determined by the 162(m) Subcommittee based upon the overall financial success of our Company and the achievement of performance goals set by our 162(m) Subcommittee including achievement of a defined number of points based on the Companys 2007 safety performance, environmental performance and the relationship of 2007 Adjusted EBITDA to the Companys 2007 budgeted Adjusted EBITDA. For a description of how Adjusted EBITDA was calculated, see Item 6. Selected Financial and Operating Data in our Annual Report on Form 10-K for the year ended December 31, 2007.