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From proxy documents"For 2015, the Company’s actual performance exceeded the above expectations levels for three (EBITDA, Production and Cash Costs) of the four measures, and was below the threshold level for one measure (Debt Repayment). The Compensation Committee recognized the combined performance against these measures and elected to fund the 2015 AIP compensation at 1.5 times the Target level. (% of Salary) Actual 2015 AIP Earned Michael D. Watford Level I 100% $1,200,000 Brad Johnson Level II 90% $540,000 Garland R. Shaw Level II 90% $506,250 Douglas B. Selvius Level III 60% $245,000 Kent Rogers Level III 60% $290,000" Instead of firing Watford, the board is compensating him at a 1.5 the target base salary! What a world we live in! http://www.viewproxy.com/UltraPetroleum/2016/ProxyStatement2016.pdf |
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Msg # | Subject | Author | Recs | Date Posted |
37171 | Re: From proxy documents | imkul2003 | 3 | 4/13/2016 1:52:32 AM |
37174 | Re: From proxy documents | riderlessbeast | 0 | 4/13/2016 10:23:27 AM |