Stock-options-vested-vs-unvested

Stock-options-vested-vs-unvested

Optionshouse-day-trading
Moving-average-with-rsi
Top-online-trading-companies


Apa-adalah-kerah-pilihan perdagangan Download candlestick-candlesticks Jepang Online-share-trading-how-to-do Online-trading-japanese-stocks Moving-average-standard-error Moving-average-output-range

Apa itu Unvested Stock Memahami bagaimana pembagian saham yang tidak diinvestasikan akan membantu Anda memaksimalkan portofolio Anda. Perusahaan yang diperdagangkan secara publik sering memberikan saham perusahaan kepada karyawan mereka sebagai bagian dari paket kompensasi. Namun, karyawan tersebut harus bekerja beberapa tahun sebelum dia bisa menjual saham tersebut. Memahami hak dan batasan yang terkait dengan saham yang tidak diinvestasikan ini penting jika Anda memiliki saham semacam itu. Definisi Di bidang keuangan, vesting mengacu pada pengalihan kepemilikan penuh atas instrumen keuangan. Jika sebuah perusahaan telah menyisihkan sejumlah saham untuk Anda, namun menetapkan bahwa syarat-syarat tertentu harus dipenuhi sebelum saham-saham ini diberikan kepada Anda, saham tersebut dianggap tidak teruji. Sampai saham rompi, Anda tidak bisa menjual atau mentransfernya ke pihak lain. Anda juga tidak bisa menggunakan hak suara yang datang dengan kepemilikan saham jika sahamnya belum menjadi haknya. Dengan kata lain, Anda tidak memiliki apa-apa selain janji untuk mentransfer saham di masa depan jika mereka masih belum terverifikasi. Proses Vesting Dalam kebanyakan kasus, jumlah waktu yang telah ditentukan harus dilewatkan untuk saham ke rompi. Seorang eksekutif, misalnya, mungkin dijanjikan 100.000 saham perusahaannya sendiri yang akan diberikan kepadanya dalam dua tahun. Periode dua tahun disebut sebagai periode vesting. Seringkali, proses vesting mungkin bergantung pada pencapaian target kinerja. Eksekutif dapat diberikan saham hanya jika laba bersih perusahaan mencapai target tertentu, misalnya, atau jika harga saham perusahaan melebihi ambang batas pada tanggal tertentu. Ada beberapa alasan perusahaan penghargaan membatasi saham yang rompi selama periode waktu tertentu. Karena karyawan tersebut harus dipekerjakan di perusahaan sampai masa vesting, saham tersebut biasanya mendorong loyalitas. Karyawan juga memiliki alasan untuk bekerja lebih keras sampai akhir masa vesting. Semakin baik kinerja perusahaan, semakin tinggi harga saham dan semakin banyak saham mereka akan bernilai. Di sisi lain, jika karyawan diberi saham segera, mereka mungkin segera menjualnya dan oleh karena itu tidak lagi mendapat keuntungan dari kinerja perusahaan yang membaik. Akhirnya, perusahaan dapat menunda biaya dengan memberikan saham terbatas karena saham tersebut hanya perlu dikeluarkan pada akhir masa vesting. Keberangkatan Sebelum Rompi Jika seorang karyawan secara sukarela meninggalkan perusahaan sebelum rompi saham, dia biasanya kehilangan semua hak dan hak istimewa yang terkait dengan saham yang tidak diinventarisasi. Apa yang terjadi ketika karyawan diberhentikan tergantung pada kontrak kerja dan peraturan perusahaan. Dalam kebanyakan kasus, jika karyawan melewatkan saham mereka yang tidak diinvasi diwariskan oleh keturunan mereka. Ketika sebuah perusahaan ingin merekrut seorang pekerja berbakat dari saingan di mana karyawan tersebut masih memiliki saham yang tidak diinventarisasi, perusahaan rekrutmen dapat memberikan uang tunai sama dengan nilai pasar dari saham yang tidak diinvestasikan atau menawarkan program penghargaan saham bersaing dengan periode vesting yang serupa. ReferensiPerformance: menekankan keseluruhan hasil GE amp konsisten, kinerja relatif amp berkelanjutan Saldo: Rumus comp. Vs Kompensasi Komite menilai masa depan vs asumsi pembayaran saat ini dari ukuran kinerja Risiko: metrik kinerja mencakup tujuan yang berfokus pada risiko spesifik Persetujuan pemilik saham untuk manfaat kematian pesangon Clawback kompensasi insentif bila diperlukan Persyaratan kepemilikan saham signifikan periode holding untuk saham pilihan Perquisite yang terbatas termasuk Transportasi, asuransi jiwa, keamanan rumah Tidak ada kesepakatan pemutusan hubungan kerja atau perubahan kontrol Tidak ada pajak kotor atas cukai Tidak ada dividen setara dengan RSU yang tidak diterima Tidak ada lindung nilai atau jaminan saham GE Tidak ada pembayaran sekaligus selisih dana Primer Kompensasi Eksekutif untuk 2015 Klik Untuk berinteraksi Ikhtisar Program Kompensasi Eksekutif Kami Meskipun diskusi kompensasi eksekutif dalam pernyataan proxy ini berfokus pada keputusan kompensasi untuk eksekutif kami yang bernama Jeff Immelt (CEO Chair amp), Jeff Bornstein (SVP amp CFO), John Rice (Wakil Ketua amp CEO Organisasi Pertumbuhan Global kita), Keith Sherin (Wakil Ketua CEO CEO GE Capital) dan Brackett Denniston (Mantan SVP amp General Counsel) program kompensasi eksekutif kami berlaku secara luas di seluruh jajaran eksekutif GE. Misalnya, sekitar 5.000 eksekutif berpartisipasi dalam program bonus tahunan dan menerima insentif ekuitas, dan sekitar 1.000 eksekutif berpartisipasi dalam program penghargaan kinerja lama kami. Kami berusaha untuk membayar upah yang adil dan kompetitif kepada semua karyawan kami, mengingat pasar kerja dan kompensasi rekan yang spesifik. Pertimbangan Utama dalam Menetapkan Pembayaran EMPHASIS TENTANG KINERJA KONSISTEN, BERKELANJUTAN DAN RELATIF Program kompensasi kami memberikan kesempatan membayar terbesar bagi para eksekutif bernama yang menunjukkan kinerja superior untuk periode waktu yang berkelanjutan. Ini juga memberi penghargaan kepada mereka karena menjalankan strategi GE melalui siklus bisnis (misalnya, mempertahankan tingkat investasi RampD yang konsisten melalui siklus ekonomi). Dalam mengevaluasi konsistensi kinerja, kami juga mempertimbangkan kinerja setiap eksekutif yang ditunjuk relatif terhadap rekan-rekannya di segmen industri atau fungsinya. METODE PENILAIAN KINERJA YANG DILAKUKAN OLEH KERANGKA INVESTOR KAMI Kami menetapkan metrik kinerja untuk program kompensasi insentif yang sesuai dengan kerangka operasi jangka pendek dan jangka panjang kami. Kami menetapkan tingkat kinerja target yang menantang namun dapat dicapai dengan kinerja yang baik, dan tingkat kinerja maksimum yang mewakili sasaran peregangan. Sebagai contoh, semua program penghargaan kinerja jangka panjang kami telah melunasi kurang dari 105 kinerja target, berkisar antara 71 dan 104. EMPHASIS PADA PELUANG MASA DEPAN MASA DEPAN VERSUS SAAT INI Komite Kompensasi berusaha untuk menyediakan campuran elemen kompensasi yang sesuai, Termasuk menemukan keseimbangan antara kompensasi saat ini dan jangka panjang dan antara kompensasi insentif tunai dan ekuitas. Pembayaran tunai terutama disesuaikan dengan dan memberi penghargaan pada kinerja yang lebih baru, sementara penghargaan ekuitas mendorong eksekutif kami untuk terus memberikan hasil dalam jangka waktu yang lebih lama dan juga berfungsi sebagai alat retensi. Komite tersebut percaya bahwa sebagian besar kompensasi eksekutif kami yang ditunjuk harus bergantung pada kinerja perusahaan, terutama kinerja operasi dan harga saham jangka panjang. PENGADILAN KOMITMEN KOMPENSASI Program kompensasi kami mengatur keseimbangan dimana pembayarannya terkait dengan tujuan kinerja kuantitatif tertentu dengan yang mana komite mengevaluasi berbagai faktor kuantitatif dan kualitatif, seperti keandalan dalam memberikan target keuangan dan pertumbuhan, kinerja berdasarkan risiko yang diasumsikan, Kinerja dalam konteks lingkungan ekonomi relatif terhadap perusahaan lain, track record integritas, penilaian yang baik, kemampuan untuk menciptakan pertumbuhan lebih lanjut dan memimpin orang lain, dan ukuran absolut dari paket gaji total. SIGNIFIKANSI HASIL PERUSAHAAN BESAR Evaluasi komite eksekutif bernama memberi penekanan kuat pada kontribusi mereka terhadap kinerja keseluruhan perusahaan daripada hanya berfokus pada bisnis atau fungsi khusus mereka. Komite percaya bahwa para eksekutif yang bernama, sebagai anggota kunci dari tim kepemimpinan perusahaan, berbagi tanggung jawab untuk mendukung tujuan dan kinerja GE. Sementara filosofi kompensasi ini mempengaruhi semua keputusan kompensasi komite, hal tersebut memiliki dampak terbesar pada hibah insentif ekuitas tahunan. PERTIMBANGAN RISIKO Program kompensasi kami seimbang dan terfokus pada jangka panjang sehingga eksekutif kami yang bernama dapat mencapai kompensasi tertinggi melalui kinerja superior yang konsisten selama periode waktu yang berkelanjutan. Selain itu, sejumlah besar kompensasi biasanya ditangguhkan atau dapat direalisasikan hanya pada saat pensiun, memberikan insentif yang kuat untuk mengelola jangka panjang sambil menghindari pengambilan risiko yang berlebihan dalam jangka pendek. Sasaran dan sasaran, yang mencakup tindakan spesifik yang berfokus pada risiko, mencerminkan keseimbangan seimbang dari ukuran kinerja agar tidak menempatkan beban berlebih pada ukuran tunggal manapun. Kompensasi juga seimbang antara pembayaran tunai saat ini, penghargaan tunai dan ekuitas yang ditangguhkan. Dengan pengecualian terbatas, panitia tetap memiliki keleluasaan untuk menyesuaikan kompensasi sesuai dengan kebijakan clawback kami dan juga untuk kualitas kinerja dan kepatuhan terhadap nilai-nilai perusahaan. Lihat Bagaimana Kami Mengawasi amp Mengelola Risiko Perusahaan untuk informasi lebih lanjut. Elemen Kompensasi Eksekutif Primer untuk 2015 Bagaimana Rencana Kompensasi Insentif Dibayar untuk 2015 Bagian ini memberikan gambaran umum tentang bagaimana GE melakukan terhadap sasaran yang ditetapkan berdasarkan program bonus tahunan 2015, program LTPA 20132015 dan PSU tahun 20112015. Lihat Tindakan Kompensasi untuk tahun 2015 untuk jumlah yang dibayarkan kepada eksekutif yang ditunjuk berdasarkan program ini dan juga bagaimana kami menilai kinerja individual mereka. Bonus Tahunan 2015 BONUS POOL DITEMUKAN DI TARGET. Kami memberikan bonus kepada eksekutif kami yang bernama di bawah desain ulang. Program bonus lebih encer. Ukuran pool bonus bergantung pada pencapaian metrik kinerja keuangan dan strategi tertentu seperti yang ditunjukkan di bawah ini. Klik untuk melihat tabel BAGAIMANA KOMITE KOMPENSASI MENYATAKAN KINERJA METODE. Sementara program bonus baru kami memberikan lebih banyak struktur dan transparansi seputar bagaimana pool bonus didanai, untuk menjaga keselarasan program dengan strategi bisnis kami, panitia bertekad untuk menyesuaikan metrik program untuk mencerminkan dua transaksi transformasi yang terjadi selama tahun 2015. Mengingat Rencana keluar GE Capital diumumkan pada bulan April, panitia: (1) mendefinisikan ulang metrik EPS sebagai EPS Vertikal Operasi Industri, sesuai dengan kerangka kerja pendapatan kami setelah pengumuman dan mengetahui biaya akuntansi dan pajak yang signifikan yang akan terjadi sebagai akibatnya. Keluarnya GE Capital dan (2) menyesuaikan tingkat kinerja untuk metrik arus kas bebas ke bawah (dari tingkat ambang, target dan tingkat kinerja maksimum masing-masing 10B, 11B dan 12B) untuk mencerminkan asumsi dividen yang diturunkan dari GE Capital (meskipun GE Modal akhirnya membayar 4,3 miliar dividen, dan kami melampaui kinerja maksimal berdasarkan metrik yang disesuaikan dan tidak disesuaikan. Selain itu, karena penutupan akuisisi Alstom yang tertunda mulai pertengahan 2015 sampai akhir 2015, panitia menyesuaikan tingkat kinerja untuk metrik laba operasi ke bawah (dari ambang batas, target dan tingkat kinerja maksimum 16.1B, 16.9B dan 17.7B, masing-masing) untuk menyingkirkan Alstom. Meskipun nilai tukar valuta asing yang tidak menguntungkan dan penundaan dalam usulan penjualan Peralatan karena adanya peraturan, keberatan antimonopoli berdampak negatif terhadap kinerja operasi EPS kami, panitia tidak melakukan penyesuaian terhadap item ini. BAGAIMANA KITA MELAKUKAN LAGI TUJUAN STRATEGIS KAMI Berlaku pada transformasi portofolio. Pada tahun 2015, GE melakukan perubahan portofolio terbesar dalam sejarahnya, meluncurkan rencana untuk menjual sebagian besar bisnis jasa keuangannya (rencana keluar GE Capital) dan menutup 104 miliar penjualan, di depan target 90 miliar. GE juga menutup 10 miliar akuisisi Alstom dan 20 miliar split-off Synchrony Financial. Meskipun GE mengakhiri kesepakatan untuk menjual Appliances kepada Electrolux, pada bulan Januari 2016, Perusahaan telah mencapai kesepakatan baru untuk menjual bisnis dengan harga lebih tinggi (tergantung pada kondisi penutupan adat). Tingkatkan hasil. Perusahaan memperluas marjin laba operasi segmen Industri 80 basis poin menjadi 17,0 (tidak termasuk Alstom), satu tahun di depan rencana, dan Industrial ROTC 290 basis poin menjadi 16,9. Selain itu, perusahaan ini meluncurkan beberapa inisiatif untuk mendorong perluasan margin produk, termasuk laboratorium Pusat Penelitian Global yang baru yang berfokus hanya pada pengelolaan produk. Intensifikasi fokus perangkat lunak, analisis dan layanan. GE melakukan reorganisasi besar untuk menciptakan bisnis digital terpadu yang menggabungkan pusat perangkat lunaknya di San Ramon, CA dengan kemampuan perangkat lunak dan perangkat keras di seluruh bisnis dan GE IT dan tim keamanan maya. Pendapatan GE Digitals 2015 adalah 5 miliar, naik sekitar 20 dari tahun sebelumnya. Perusahaan terus memperluas bisnis layanannya, dengan backlog 2015 sebesar 226 miliar, naik 16 dari 2014. GE juga meluncurkan Current yang didukung oleh GE, sebuah platform efisiensi energi baru. Memimpin di pasar pertumbuhan. Dalam lingkungan pertumbuhan yang lambat, pendapatan segmen industri dari pasar pertumbuhan mencapai 43 miliar (flat year-over-year) dan pesanan infrastruktur pasar tumbuh 47 miliar (turun 6). Perusahaan terus melakukan pelokalan di pasar pertumbuhan, meningkatkan kepemimpinan, layanan komersial dan layanannya menjadi 23 sampai lebih dari 24.000 di tahun 2015 dan berinvestasi di fasilitas multi-modal di India, Nigeria dan Arab Saudi. Sebagai tambahan. GE terus mengembangkan kemampuan pembiayaan proyeknya. Mempercepat Penyederhanaan. Perusahaan terus melakukan perubahan struktural dan budaya untuk mendorong inisiatif Penyederhanaannya, termasuk mengurangi biaya Penjualan Industri, umum dan administrasi (SGampA) sebagai persentase penjualan menjadi 13,9 (tidak termasuk Alstom) dan menurunkan biaya operasi perusahaan yang disesuaikan sebesar 300 juta pada tahun 2015. GE juga merombak proses penilaian kinerja karyawan tahunannya, menerapkan rencana kompensasi insentif berbasis luas dan mengumumkan visi baru untuk kantor pusat perusahaannya. Jalankan pada pengenalan produk baru yang utama. GE dijalankan pada beberapa peluncuran produk yang signifikan, termasuk turbin kelas HA, turbin gas terbesar dan tercepat di dunia (33 unit di backlog pada tahun 2015), mesin LEAP, sebuah etalase untuk pembuatan bahan bakar GE dan kemampuan material tingkat lanjut (1.399 pesanan dan Komitmen pada 2015), dan lokomotif Tier 4, lokomotif GE berikutnya yang 70 lebih efisien daripada model sebelumnya (756 unit dikirim pada tahun 2015). Perusahaan juga meluncurkan inisiatif untuk meningkatkan efisiensi pengenalan produk baru dan menurunkan biaya produk. Mengelola risiko perusahaan. Perusahaan terus fokus untuk mengelola risiko perusahaan yang kritis, termasuk likuiditas (mempertahankan neraca yang kuat, yang berakhir pada tahun 2015 dengan 70 miliar dalam bentuk tunai dan setara), kualitas produk (mengintegrasikan manajemen produk, rantai pasokan dan dewan teknik GE-wide untuk fokus pada produk Kualitas), cybersecurity (terus memperluas kemampuan, dengan lebih dari 11.000 profesional TI dan cyber pada tahun 2015), kepatuhan dan pelaksanaan kontrak layanan jangka panjang. Komite Kompensasi menilai kinerja GE pada sasaran strategisnya di 95 dan bukan 100 karena, walaupun perusahaan secara keseluruhan memiliki tahun yang sangat baik, beberapa bisnis utama, seperti Oil amp Gas and Healthcare, mengalami lingkungan bisnis yang menantang dan Global Growth Organization menghadapi tantangan. Pasar global LEAP adalah merek dagang CFM International, perusahaan patungan 50-50 antara Snecma (Safran) dan GE. BAGAIMANA KITA MENGEVALUASI KINERJA BISNIS DAN MENYALA BONUS POOL Klik untuk melihat tabel penyesuaian RICE Mr berdasarkan 50 persentase dana dari GGOs dan 50 pada persentase pendanaan Korporasi, menghasilkan persentase dana campuran 90. BAGAIMANA BONUS PROGRAM WORKS. Kami membayar bonus tunai kepada para eksekutif kami masing-masing pada bulan Februari untuk tahun sebelumnya. Untuk tahun 2015, program bonus tahunan ini didesain ulang untuk memberikan keselarasan yang lebih erat antara kompensasi insentif dan hasil perusahaan tahunan. Heres bagaimana rencana kerja baru: Langkah 1establish jumlah bonus target individu. Kami menetapkan bonus target yang dinyatakan sebagai persentase dari gaji pokok individu. Persentase ini ditentukan oleh tingkat senioritas dan umumnya tidak berfluktuasi dari tahun ke tahun. Sebagai bagian dari transisi dari rencana bonus sebelumnya, setiap individu (termasuk eksekutif yang diberi nama) yang pembayaran bonus 2014 sebagai persentase gaji lebih tinggi dari persentase bonus target di bawah program baru tersebut memiliki bonus target sama dengan bonus mereka di bawah perkiraan sebelumnya. program. Langkah 2membangun kolam bonus target. Kolam bonus target untuk perusahaan didirikan pada awal setiap tahun berdasarkan jumlah individu yang dipilih untuk berpartisipasi dalam program dan jumlah bonus target, struktur organisasi dan praktik pasar mereka. Untuk tahun 2015, ukuran kolam bonus target sebanding dengan total yang diberikan berdasarkan program bonus sebelumnya. Langkah 3fund bonus renang. Setelah akhir setiap tahun, pool bonus target perusahaan secara formula disesuaikan ke bawah atau ke atas (dengan target 125 target) setiap tahunnya menghasilkan jumlah pool aktual yang didasarkan pada kinerja GE terhadap kinerja keuangan, operasi dan atau sasaran strategis yang Panitia menetapkan pada awal tahun. Untuk tahun 2015, pool bonus didanai pada 103. Langkah 4 mengalokasikan bonus pool ke bisnis dan perusahaan. Keseluruhan pool bonus dialokasikan di antara bisnis kami berdasarkan pencapaian tujuan kinerja yang ditetapkan di awal tahun. Ini termasuk tujuan keuangan maupun tujuan strategis yang dievaluasi oleh komite secara subjektif. Jumlah yang dialokasikan untuk perusahaan bergantung pada sejumlah faktor, termasuk jumlah yang dialokasikan untuk bisnis dan pencapaian sasaran kinerja operasi dan strategis yang ditetapkan untuk perusahaan di awal tahun. Jumlah yang dialokasikan untuk bisnis dan perusahaan dinyatakan sebagai persentase pendanaan berdasarkan evaluasi subyektif komite dan dapat lebih tinggi atau lebih rendah dari 100. Untuk tahun 2015, persentase pendanaan usaha berkisar antara 63 sampai 130. Langkah 5 menentukan bonus individu. Bonus individual disesuaikan ke atas atau ke bawah dari target (lihat Langkah 2) untuk mencerminkan kinerja GE, kinerja individu dan, jika sesuai, kinerja bisnis. Bagi para eksekutif yang bernama, jumlah bonus target disesuaikan berdasarkan persentase pendanaan untuk bisnis mereka yang ditetapkan pada Langkah 4. 60 dari jumlah yang disesuaikan ini dianggap tetap (berdasarkan kinerja bisnis eksekutif yang ditunjuk), sementara sisanya 40 berpotensi disesuaikan Lebih jauh (ke atas atau ke bawah) berdasarkan penilaian komite terhadap kinerja eksekutif masing-masing eksekutif. 20132015 Penghargaan Prestasi Jangka Panjang (LTPAs) LTPAs MEMBAYAR TARGET. Pada tahun 2013, kami memberikan LTPA kepada eksekutif kami, bergantung pada pencapaian metrik kinerja yang ditentukan seperti yang ditunjukkan di bawah ini. Penghargaan ini, yang diberikan pada tahun 2015, dibayarkan berdasarkan pencapaian empat metrik kinerja berbobot rata-rata di bawah ini, dengan jumlah pembayaran di atas prorata untuk kinerja antara tingkat yang ditetapkan. Mencerminkan pendapatan operasional industri sebagai persentase pendapatan Vertikal Operasi Industri untuk tahun 2015. Secara keseluruhan, ini mewakili pencapaian tingkat kinerja yang mendekati target. Akibatnya, LTPA membayar kepada eksekutif yang diberi nama pada 90 dari target pembayaran, yang sesuai dengan jumlah 1,36X (bonus gaji pokok, yang merupakan bonus 125 bonus eksekutif). BAGAIMANA KOMITE KOMPENSASI MENYATAKAN KINERJA METODE. Berdasarkan persyaratan program LTPA, panitia dapat menyesuaikan metrik kinerja untuk item yang luar biasa. Program LTPA asli menggunakan total 2015 ROTC perusahaan (dengan tingkat ambang, target dan tingkat kinerja maksimum masing-masing 12, 13 dan 14). Sehubungan dengan rencana keluarnya GE Capital yang diumumkan pada bulan April 2015, panitia mengganti metrik ini (dan tingkat kinerja yang terkait) dengan ROTC Industri 2015 (komponen ROTC) untuk memusatkan insentif pada dorongan pengembalian industri, dengan mengakui bahwa pendapatan GE Capital akan terjadi Dikurangi karena bisnisnya didivestasi dan GE untuk sementara menahan kelebihan likuiditas karena penjualan aset yang dipikirkan. Sebagai tambahan, panitia memasukkan hasil penawaran pertukaran Synchrony Financial dalam total metrik kas sehubungan dengan keuntungan pembelian kembali yang diterima perusahaan (pengurangan 6,6 pelampung publik GE). Panitia tidak menyesuaikan tingkat kinerja EPS yang ditargetkan untuk dampak negatif dari rencana keluar GE Capital dan perpecahan Sinkronisasi Keuangan. Lihat Penghargaan Kinerja Jangka Panjang (LTPA) untuk rincian tentang bagaimana program LTPA bekerja. 20112015 Unit PSU Hasil Kinerja (PSUs) MEMBAYAR PADA 50. Pada bulan Februari 2016, Immelt memperoleh 50 dari 250.000 PSU yang diberikan kepadanya pada tahun 2011 (dengan nilai wajar sejauh hibah sebesar 3,6 juta) berdasarkan persyaratan hibah karena GE mengungguli SampP 500 pada TSR selama periode kinerja (2011 sampai 2015). Sisanya 50 dari PSU dibatalkan karena GE tidak mencapai setidaknya 71 miliar CFO Industri selama periode yang sama. Akibatnya, 125.000 PSU dikonversi menjadi saham seharga 3,5 juta (berdasarkan harga penutupan saham GE pada 12 Februari 2016, tanggal Komite Kompensasi mensertifikasi pencapaian kondisi kinerja). PERJANJIAN SAAT INI DAN PRIOR CFO, GE (sejak 2013) dan wakil presiden senior CFO sebelumnya, GE Capital, PENYELESAIAN PENJUALAN DAN PENGELOLAAN KINERJA MOTOR Komite ini mengakui kontribusi Mr. Bornsteins terhadap keseluruhan tujuan GE dan Korporasi untuk program bonus tahunan dan juga Eksekusi terhadap strategi alokasi modal perusahaan (mengembalikan 33 miliar saham ke pemilik saham) dan kepemimpinan inisiatif utama untuk mendorong marjin kotor dan pengembalian KEPUTUSAN KOMPENSASI TAHUN 2015 Gaji pokok meningkat sebesar 10 sampai 1,6 juta, efektif 1 Januari 2015, setelah 18 bulan Interval sejak kenaikan gaji terakhirnya, per praktik standar GE untuk eksekutif bernama Bonus tunai 2,5 juta, 104 target (lebih tinggi dari dana Korporat 100, karena penyesuaian kinerja individu) Ekuitas memberi 53.000 PSU, 37.000 RSU dan 220.000 opsi (dibandingkan dengan 550.000 Pilihan tahun lalu) Pembayaran LTPA 5,4 juta (3,4 juta dilaporkan sebagai kompensasi 2015) PERAN SAAT INI DAN PRIOR Presiden amp CE O, Organisasi Pertumbuhan Global (sejak 2010) dan wakil ketua sebelumnya CEO, Infrastruktur Teknologi, Industri, Energi dan Sistem Transportasi Penilaian Kinerja Komite tersebut mengakui kontribusi Mr. Rices terhadap keseluruhan tujuan GE dan GGO untuk program bonus tahunan serta kepemimpinannya. Dalam mengintegrasikan Alstom dan mengembangkan strategi jangka panjang untuk Eropa dan China KEPUTUSAN KOMPENSASI UNTUK TAHUN 2015 Gaji pokok meningkat 7-72525 juta, efektif 1 Juli 2015, setelah selang waktu 18 bulan sejak kenaikan gaji terakhirnya, sesuai dengan standar GE untuk dinobatkan sebagai Eksekutif Bonus tunai 4,1 juta, 93 dari 4,4 juta target (lebih tinggi dari CorporateGGOs 90 campuran dana karena penyesuaian kinerja individual yang mencerminkan kontribusinya yang lebih luas terhadap keseluruhan tujuan GE) Equity memberikan 58.000 PSU, 40.000 RSU dan 240.000 opsi (dibandingkan dengan 650.000 pilihan Tahun lalu) Pembayaran LTPA 9,5 juta (5,8 juta dilaporkan sebagai kompensasi 2015) PERAN SAAT INI DAN PRIOR Ketua CEO pria amp, GE Capital (sejak 2013) dan wakil ketua sebelumnya CFO, peran kepemimpinan GE di banyak bisnis GE utama. KINERJA PENILAIAN Komite tersebut mengakui kontribusi Mr. Sherins terhadap keseluruhan tujuan GE dan GE Capital untuk program bonus tahunan, termasuk kepemimpinannya. Dari rencana keluar GE Capital KEPUTUSAN KOMPENSASI UNTUK TAHUN 2015 Gaji pokok meningkat sebesar 9 sampai 2,5 juta, efektif 1 Januari 2015, setelah selang waktu 18 bulan sejak kenaikan gaji terakhirnya, sesuai praktik standar GE untuk eksekutif yang ditunjuk. Bonus tunai 5,2 juta, 130 Dari 4,0 juta target (sama dengan pendanaan GE Capital) Equity memberikan 58.000 PSU, 40.000 RSU dan 240.000 opsi (dibandingkan dengan 650.000 pilihan tahun lalu) Pembayaran LTPA 10,2 juta (6,8 juta dilaporkan sebagai kompensasi 2015) PERAN LANCAR DAN SEBELUMNYA Mantan Penasihat Umum, GE Dan wakil presiden senior (pensiunan 31 Desember 2015) sebelumnya Penasihat Senior, Litigasi amp Kebijakan Hukum PENILAIAN KINERJA Komite tersebut mengakui Mr. Dennistons co PENDAPATAN menuju keseluruhan nilai GE dan Perusahaan untuk program bonus tahunan KEPUTUSAN KOMPENSASI UNTUK TAHUN 2015 Gaji pokok meningkat sebesar 7 sampai 1,9 juta, efektif pada tanggal 1 Juli 2015, setelah selang waktu 18 bulan sejak kenaikan gaji terakhirnya, sesuai dengan standar GE untuk dinobatkan sebagai Eksekutif Bonus tunai 3,0 juta, 100 target (sama dengan pendanaan Perusahaan) Ekuitas memberikan 44.000 PSU, 30.000 RSU dan 180.000 opsi (dibandingkan dengan 550.000 opsi tahun lalu) hibah ini dibatalkan pada saat pensiun Mr. Dennistons pada akhir pembayaran LTPA 2015 6.7 Juta (4,1 juta dilaporkan sebagai kompensasi 2015) Klik untuk melihat tabel GAJI. Gaji pokok untuk eksekutif kami bergantung pada cakupan tanggung jawab mereka, keterampilan dan nilai kepemimpinan mereka, dan kinerja dan lamanya pelayanan mereka. Umumnya, mereka memenuhi syarat untuk kenaikan gaji pada interval 18 bulan atau lebih. Jumlah kenaikan apapun dipengaruhi oleh gaji saat ini dan jumlah yang dibayarkan ke teman sebaya di dalam dan di luar perusahaan. Masing-masing eksekutif bernama menyumbangkan sebagian gajinya ke Rencana Tabungan Pensiun GE (RSP), rencana penghematan 401 (k) perusahaan. BONUS. Jumlah yang diterima berdasarkan program bonus tunai tahunan kami. Jumlah 2015 merupakan pembayaran pertama di bawah program bonus kami yang didesain ulang dan lebih ringkas. Lihat Bagaimana Program Bonus Bekerja untuk informasi tambahan. PENGHARGAAN SAHAM. Nilai penawaran final agregat PSU dan RSU yang diberikan pada tahun - tahun yang ditentukan. Umumnya nilai wajar hibah agregat adalah jumlah yang diharapkan perusahaan untuk biaya untuk tujuan akuntansi selama jadwal pemberian penghargaan dan tidak sesuai dengan nilai aktual yang diketahui oleh eksekutif yang ditunjuk dari penghargaan tersebut. Secara khusus, nilai aktual PSU yang diterima berbeda dengan biaya akuntansi karena tergantung pada kinerja. Misalnya, seperti yang dijelaskan dalam Tindakan Kompensasi untuk tahun 2015. Immelt memperoleh 50 dari PSU yang diberikan kepadanya pada tahun 2011 karena GE mengungguli SampP 500 pada TSR selama periode kinerja namun kondisi kinerja CFO Industri tidak terpenuhi. Meskipun ada PSU yang tidak diperoleh oleh Mr. Immelt dibatalkan, GE tidak menyesuaikan jumlah yang terkait yang sebelumnya dilaporkan sebagai kompensasi pada tahun penghargaan PSU (dalam hal ini, 2,3 juta disebabkan oleh kondisi kinerja Industrial CFOA dilaporkan sebagai kompensasi untuk Mr Immelt di 2011). Sesuai dengan peraturan SEC, nilai wajar hibah agregat dari PSU dihitung berdasarkan hasil yang paling mungkin dari kondisi kinerja pada tanggal pemberian hibah, dimana untuk tahun 2015 PSU berada di antara ambang dan target kinerja. Jika hasil yang paling mungkin dari kondisi kinerja pada tanggal pemberian hibah adalah kinerja target, maka nilai wajar hibah PSU akan menjadi sebagai berikut: Immelt (6,912,760), Bornstein (1,831,881), Beras (2,004,700), Sherin ( 2,004,700) dan Denniston (1,520,807). Lihat Tabel Kompensasi Insentif Jangka Panjang untuk informasi tambahan, termasuk kondisi kinerja dan asumsi penilaian, jika berlaku, untuk PSU dan RSU yang diberikan pada tahun 2015. PENGGUNAAN OPTION. Tanggal penawaran agregat nilai wajar opsi saham yang diberikan pada tahun-tahun yang ditentukan. Jumlah ini mencerminkan biaya akuntansi perusahaan dan tidak sesuai dengan nilai sebenarnya yang akan diketahui oleh eksekutif yang ditunjuk. Untuk informasi mengenai asumsi yang digunakan dalam menilai hibah tahun tertentu, lihat catatan Informasi Terkait Saham lainnya di laporan keuangan GEs dalam laporan tahunan kami mengenai Formulir 10 K untuk tahun tersebut. Lihat Tabel Kompensasi Insentif Jangka Panjang untuk informasi tambahan mengenai opsi saham yang diberikan pada tahun 2015. RENCANA INSENTIF NON-EKUITAS COMP. Jumlah yang diterima berdasarkan program Long-Term Performance Award (LTPA) kami, yang biasanya kami bangun hanya sekali dalam tiga tahun atau lebih, mencerminkan pencapaian tujuan kinerja yang telah ditetapkan sebelumnya selama periode kinerja. Jumlah untuk tahun 2015 mencerminkan pembayaran akhir LTPA 20132015, dikurangi angsuran tahunan yang dilaporkan sebelumnya untuk tahun 2013 dan 2014, seperti terlihat pada tabel di bawah ini. Pembayaran LTPA 20132015 didasarkan pada gaji yang berlaku pada bulan Februari 2016 dan bonus dibayarkan untuk periode kinerja 2014 atau 2015 (mana yang lebih tinggi, dengan batas 125 bonus individu 2014). Lihat Long-Term Performance Awards (LTPAs) untuk informasi tambahan. PREMI ASURANSI KEHIDUPAN. Pembayaran kena pajak dilakukan kepada para eksekutif bernama untuk menutupi premi untuk polis asuransi jiwa universal yang mereka miliki. Kebijakan ini meliputi: (1) Kehidupan Eksekutif, yang menyediakan polis asuransi jiwa universal untuk para eksekutif bernama berjumlah 3 juta dalam cakupan pada saat pendaftaran, meningkat 4 setiap tahun sesudahnya dan (2) Kehidupan Pimpinan, yang memberikan polis asuransi jiwa universal untuk Bernama eksekutif dengan cakupan dua kali gaji tahunan mereka (gaji ditambah pembayaran bonus terbaru mereka). RENCANA TABUNGAN RAHASIA. GE mencocokkan kontribusi dengan akun eksekutif RSP yang berurutan yaitu 3.5 dari jumlah gaji sesuai dengan batasan yang diberlakukan berdasarkan peraturan IRS. PENGGUNAAN PRIBADI PRIBADI. Panitia meminta Immelt untuk menggunakan pesawat perusahaan untuk semua perjalanan udara (pribadi dan bisnis) untuk tujuan keamanan karena posisinya dengan GE. Jumlah mencerminkan biaya tambahan untuk GE untuk penggunaan pribadi pesawat perusahaan, berdasarkan biaya variabel berikut yang timbul sebagai akibat aktivitas penerbangan pribadi: sebagian perawatan dan perbaikan yang sedang berlangsung, bahan bakar pesawat terbang, komunikasi satelit dan biaya perjalanan untuk awak pesawat . Ini tidak termasuk biaya non-variabel, seperti cat eksterior, renovasi interior dan inspeksi terjadwal secara rutin, yang akan terjadi terlepas dari apakah ada penggunaan pribadi. Biaya tambahan agregat, jika ada, perjalanan oleh eksekutif keluarga atau tamu lainnya juga disertakan. MOBIL YANG LEASED. Biaya untuk program mobil sewaan, seperti biaya sewa dan pengelolaan, biaya administrasi dan biaya perawatan. PERENCANAAN PAJAK KEUANGAN. Biaya untuk penggunaan penasihat persiapan, perencanaan keuangan dan pajak dan perencanaan, dan analisis dan saran investasi. LAIN. Jumlah total manfaat lainnya yang diberikan, tidak ada yang melebihi melebihi 25.000 atau 10 dari jumlah total manfaat yang termasuk dalam Penggunaan Pribadi Pesawat Terbang, Sewa Mobil, Perencanaan Pajak amp Keuangan dan kolom lainnya untuk eksekutif yang ditunjuk (kecuali jika tidak Yang dijelaskan dalam catatan kaki ini), seperti: (1) biaya layanan mobil (2) alarm rumah dan instalasi generator, pemeliharaan dan pemantauan (3) partisipasi dalam Produk Eksekutif dan Program Pencahayaan dimana para eksekutif dapat menerima peralatan GE atau produk lainnya dengan tambahan Biaya dihitung berdasarkan nilai pasar wajar produk yang diterima dan (4) pemeriksaan fisik tahunan. Sehubungan dengan Pak Rice, kolom ini juga melaporkan manfaat berikut yang diberikan kepadanya sehubungan dengan relokasi non-permanennya, sesuai permintaan perusahaan, ke Hong Kong, sesuai dengan kebijakan perusahaan untuk karyawan yang mengerjakan tugas internasional non-permanen di Yurisdiksi selain negara asal mereka: (1) penyesuaian biaya hidup (365.057) (2) perumahan dan utilitas (701.369) dan (3) tunjangan dan biaya ekspatriaterelokasi lainnya (121.129). Any benefits paid in Hong Kong dollars (HKD) were converted to USD on a monthly basis using the following average monthly exchange rates for 2015 (expressed as HKD per USD): January, February, May through December7.75 March, April7.76. SEC TOTAL . Total compensation, as determined under SEC rules. ADJUSTED SEC TOTAL. We are presenting this supplemental column to show how the Compensation Committee views the named executives annual compensation. This column adjusts the amounts reported in the SEC Total column by: (1) subtracting the change in pension value reported in the Change in Pension Value and Nonqualified Deferred Comp. Earnings column to show how year-over-year changes in pension value impact total compensation and (2) annualizing the 20132015 LTPA payout (subtracting the amount reported in the Non-Equity Incentive Plan Comp. column and adding one-third of the amount reported as 20132015 LTPA Total Payout in the table under 8220Non-Equity Incentive Plan Comp.8221 above) to reflect that LTPAs are granted only once every three or more years and reflect the companys performance over the three-year period from 2013 to 2015. The amounts reported in this column differ substantially from, and are not a substitute for, the amounts reported in the SEC Total column. HOW THE PAYOUT STRUCTURE FOR THE NAMED EXECUTIVES DIFFERED FROM THE STRUCTURE FOR OTHER EXECUTIVES. To enhance the transparency of the LTPA program and reinforce the impact of participants efforts over each year in the performance period, LTPAs are credited to each named executives deferred compensation account in annual installments but not actually paid out until after the third year. The amount of each installment is calculated, following the end of each year in the performance period, by multiplying the named executives total cash compensation at the time by 30 of the projected total three-year payout percentage (up to the target payout level for the first year). Following the third year, the named executives receive the amounts credited, without interest, adjusted to reflect GEs actual three-year performance. These amounts, minus the annual installments previously reported for 2013 and 2014, are reported as 2015 compensation in the Non-Equity Incentive Plan Comp. column in the Summary Compensation Table . 20162018 LTPAs In March 2016, the Compensation Committee granted contingent LTPAs for the 20162018 performance period to approximately 1,000 executives across the company. The awards are payable based on achievement of the performance metrics shown in the table below. The terms and conditions of this LTPA program are the same as discussed above for the 20132015 LTPA program, except for the following modifications: Five equally weighted performance metrics. Cash returned to investors was added as a metric to the four metrics in the prior program to incentivize returning excess cash to shareowners, and margins replaced the industrial earnings percentage metric in light of the substantial progress made on the GE Capital exit plan Lower payout multiples for the named executives. Payout multiples were set at 0.50X, 1.00X, 2.00X at threshold, target and maximum performance (versus 0.75X, 1.50X and 2.00X in the prior program) as part of the committees consideration of the size of total pay packages and Payout multiples based on final salary average bonus during the performance period. Payout multiples were based on salary in effect at the end of the performance period plus the average bonus received for the three years in the performance period (compared to the higher of participants 2014 and 2015 bonuses in the prior program) in light of the increased volatility in bonus amounts under our new annual bonus program. Click to view table ESTIMATED FUTURE PAYOUTS UNDER PERFORMANCE SHARE UNITS. The named executives were granted PSUs in 2015 that could convert into shares of GE stock at the end of the three-year performance period based on two equally weighted operating goals: Total Cash and Operating Margin. Each operating goal has specified threshold and target performance levels such that performance below threshold results in no PSUs being earned, performance at threshold results in 50 of the PSUs being earned, and performance at or above target results in 100 of the PSUs being earned (with proportional adjustment for performance between threshold and target). In addition, the PSUs have a relative TSR modifier so that the number of PSUs that convert into shares based on achievement of the two operating goals may be adjusted upward or downward by up to 25, depending on the companys TSR performance versus the SampP 500 over the performance period. Accordingly, the named executives may receive between 0 and 125 of the target number of PSUs granted. Dividend equivalents are paid out only on shares actually received. The number of PSUs shown in the threshold, target and maximum columns are calculated as follows: (1) threshold assumes that GE achieves the threshold performance level for only one operating goal and there is a negative 25 adjustment for relative TSR performance, (2) target assumes that GE achieves the target performance level for both operating goals and there is no adjustment for relative TSR performance, and (3) maximum assumes that GE achieves the target performance level for both operating goals and there is a positive 25 adjustment for relative TSR performance. See Annual Equity Incentive Awards above for additional information. RESTRICTED STOCK UNITS. The number of RSUs granted in 2015, which will vest in five equal annual installments, with the first installment (20) vesting one year from the grant date. Dividend equivalents are paid out only on shares actually received. STOCK OPTIONS. The number of stock options granted in 2015, which will vest in five equal annual installments, with the first installment (20) becoming exercisable one year from the grant date. See the Outstanding Equity Awards Vesting Schedule Table below and Potential Termination Payments for information on accelerated vesting for retirement-eligible awards. STOCK OPTION EXERCISE PRICE. Stock option exercise prices reflect the closing price of GE stock on the grant date. GRANT DATE FAIR VALUE OF AWARDS. This column shows the aggregate grant date fair value of PSUs, RSUs and stock options granted to the named executives in 2015. Generally, the aggregate grant date fair value is the amount that the company expects to expense in its financial statements over the awards vesting schedule. For stock options, fair value is calculated using the Black-Scholes value of each option on the grant date (resulting in a 4.94 per unit value). For RSUs, fair value is calculated based on the closing price of the companys stock on the grant date, reduced by the present value of dividends expected to be paid on GE common stock before the RSUs vest (resulting in a 29.55 per unit value) because dividend equivalents on unvested RSUs (granted after 2013) are accrued and paid out only if and when the award vests. For PSUs, the actual value of units received will depend on the companys performance, as described above. Fair value is calculated by multiplying the per unit value of the award (34.56 per unit) by the number of units corresponding to the most probable outcome of the performance conditions as of the grant date. The per unit value is based on the closing price of the companys stock on the grant date, adjusted to reflect the relative TSR modifier by using a Monte Carlo simulation that includes multiple inputs such as stock price, performance period, volatility and dividend yield. Outstanding Equity Awards Table The following tablealso known as the Outstanding Equity Awards at Fiscal Year-End Tableshows the named executives stock and option grants as of year-end. It includes unexercised stock options (vested and unvested) and RSUs and PSUs for which vesting conditions were not yet satisfied as of December 31, 2015. The vesting schedule for each award is shown following this table. Click to view table OPTION AWARDS VESTING SCHEDULE. This column shows the vesting schedule for unexercisable options. Stock options vest on the anniversary of the grant date in the years shown in the table above. This table shows an accelerated stock option vesting schedule for Messrs. Immelt, Rice and Sherin because their awards qualified for retirement-eligible vesting between 2016 and 2018. See Potential Termination Payments for the requirements for an award to qualify for retirement-eligible accelerated vesting (the executive is age 60 or older and the award has been held for at least one year). STOCK AWARDS VESTING SCHEDULE. This column shows the vesting schedule for unvested RSUs and unearned PSUs. RSUs vest on the anniversary of the grant date in the years shown in the table, except that certain awards vest on the named executives 65th birthday or upon retirement at or after age 60 (as noted in the table) and PSUs vest on the date the Compensation Committee certifies the achievement of these conditions. As required by their terms, the awards granted to Mr. Denniston in 2015 were cancelled upon his retirement at year-end. Option Exercises and Stock Vested Table The table to the below shows the number of shares the named executives acquired, and the values they realized upon the vesting of RSUs during 2015. Values in the table are calculated before payment of any applicable withholding taxes and brokerage commissions. None of the named executives exercised options during 2015. The company has offered both a deferred bonus program and, from time to time, a deferred salary program. The deferral programs are intended to promote retention by providing a long-term savings opportunity on a tax-efficient basis. The deferred salary program is viewed as a strong retention tool because executives generally must remain with the company for at least five years after deferral to receive any interest on deferred balances. In addition, because the deferral programs are unfunded and deferred payments are satisfied from the companys general assets, they provide an incentive for the companys executives to minimize risks that could jeopardize the long-term financial health of the company. Bonus Deferrals Eligibility and deferral options. Employees in our executive band and above, including the named executives, can elect to defer all or a portion of their bonus payments into the deferral options shown below. Participants may change their election among these options four times per year. Time and form of payment. Participants can elect to receive their deferred compensation balance upon termination of employment either in a lump sum or in annual installments over 10 to 20 years. Click to view table None of the bonus deferral options provide for above-market interest as defined by the SEC. Salary Deferrals Eligibility. We periodically offer eligible employees in our executive band and above the opportunity to defer their salary payments under deferred salary programs (the last such plan was offered in 2010 for 2011 salary). Individuals who are named executives at the time a deferred salary program is initiated are not eligible to participate. Interest income. These programs provide accrued interest on deferred amounts (including an above-market interest rate as defined by the SEC) ranging from 6 to 14 compounded annually. A participant who terminates employment before the end of the five-year vesting period will receive a payout of the deferred amount but will forfeit the accrued interest (with exceptions for events such as retirement, death and disability). Time and form of payment. Our deferred salary programs have required participants to elect, before the salary was deferred, to receive deferred amounts either in a lump sum or in 10 to 20 annual installments. The company makes all decisions regarding the measures for calculating interest or other earnings on deferred bonuses and salary. The named executives cannot withdraw any amounts from their deferred compensation balances until they either leave or retire from GE. Deferred Compensation Table The table belowalso known as the Nonqualified Deferred Compensation Tableshows amounts the named executives earned under nonqualified deferred compensation plans and plan balances at December 31, 2015. For 2015, the company did not make any matching contributions into these plans. In addition, no withdrawals or distributions were made in 2015. The company provides retirement benefits to the named executives under the same GE Pension Plan and GE Supplementary Pension Plan in which other eligible employees participate. The Pension Plan is a funded, tax-qualified plan. The Supplementary Pension Plan, which increases retirement benefits above amounts available under the Pension Plan, is an unfunded, unsecured obligation of the company and is not qualified for tax purposes. Because participants generally forfeit any benefits under this plan if they leave the company before age 60, we believe it is a strong retention tool that significantly reduces departures of high-performing executives and greatly enhances the caliber of the companys executive workforce. In addition, because the Supplementary Pension Plan is unfunded and benefit payments are satisfied from the companys general assets, it provides an incentive for executives to minimize risks that could jeopardize the long-term financial health of GE. GE Pension Plan Eligibility and vesting. The GE Pension Plan is a broad-based retirement program that is closed to new participants. Eligible employees vest in the plan after five years of qualifying service. The plan also requires employee contributions, which vest immediately. Benefit formula. For the named executives, the plan provides benefits based primarily on a formula that takes into account their earnings for each fiscal year. Since 1989, this formula has provided an annual benefit accrual equal to 1.45 of a named executives earnings for the year up to covered compensation and 1.9 of his earnings for the year in excess of covered compensation. Covered compensation was 45,000 for 2015 and has varied over the years based in part on changes in the Social Security taxable wage base. For purposes of the formula, annual earnings include base salary and up to one-half of bonus payments, but may not exceed an IRS-prescribed limit applicable to tax-qualified plans (265,000 for 2015). As a result, the maximum incremental annual benefit a named executive could have earned for service in 2015 was 4,832.50 (402.71 per month). Over the years, we have made special one-time adjustments to this plan that increased eligible participants pensions. Although we made such an adjustment in 2015 for qualifying long-service employees in connection with union negotiations, this adjustment did not impact the named executives pensions. Time and form of payment. The accumulated benefit an employee earns over his or her career is payable after retirement on a monthly basis for life with a guaranteed minimum benefit of five years. The normal retirement age as defined in this plan is 65 however, employees who began working at GE prior to 2005, including the named executives, may retire at age 60 without any reduction in benefits. In addition, the plan provides for Social Security supplements and spousal joint and survivor annuity options. Tax code limitations on benefits. The tax code limits the benefits payable under the GE Pension Plan. For 2015, the maximum single life annuity a named executive could have received under these limits was 210,000 per year. This ceiling is actuarially adjusted in accordance with IRS rules to reflect employee contributions, actual forms of distribution and actual retirement dates. GE Supplementary Pension Plan Eligibility. The GE Supplementary Pension Plan is an unfunded and non-tax-qualified retirement program that is offered to eligible employees in the executive band and above, including the named executives, to provide retirement benefits above amounts available under our other pension programs. The benefit formula and time and form of payment described below do not apply to new participants. Benefit formula. A named executives annual supplementary pension, when combined with certain amounts payable under the companys other pension programs and Social Security, will equal 1.75 of his earnings credited for retirement benefits multiplied by the number of his years of credited service, up to a maximum of 60 of such earnings credited for retirement benefits. The earnings credited for retirement benefits are the named executives average annual compensation (base salary and bonus) for the highest 36 consecutive months out of the last 120 months prior to retirement. Time and form of payment. Employees are generally not eligible for benefits under the Supplementary Pension Plan if they leave the company before age 60. The normal retirement age under this plan is 65 however, employees who began working at GE prior to 2005, including the named executives, may retire at age 60 without any reduction in benefits. The plan provides for spousal joint and survivor annuities for the named executives. GE Excess Benefits Plan Eligibility. The GE Excess Benefits Plan is an unfunded and non-tax-qualified retirement program that is offered to employees whose benefits under the GE Pension Plan are limited by certain tax code provisions. There were no accruals for named executives under this plan in 2015, and the company expects only insignificant accruals, if any, under this plan in future years. Benefit formula. Benefits payable under this plan are equal to the amount that would be payable under the terms of the GE Pension Plan disregarding the limitations imposed by certain tax code provisions minus the amount actually payable under the GE Pension Plan taking those limitations into account. Time and form of payment. Benefits for the named executives are generally payable at the same time and in the same manner as their GE Pension Plan benefits. Pension Benefits Table The table below shows the present value of the accumulated benefit at year-end for the named executives under each plan, as calculated based upon the assumptions described below. Although SEC rules require us to show this present value, the named executives are not entitled to receive these amounts in a lump sum. None of the named executives received a payment under these plans in 2015. PRESENT VALUE OF ACCUMULATED BENEFIT. The accumulated benefit is based on years of service and earnings (base salary and bonus, as described above) considered by the plans for the period through December 31, 2015. It also includes the value of contributions made by the named executives throughout their careers. For purposes of calculating the present value, we assume that all named executives who are not yet 60 will remain in service until age 60, the age at which they may retire without any reduction in benefits. We also assume that benefits are payable under the available forms of annuity consistent with the assumptions described in the Postretirement Benefit Plans notes in GEs financial statements in our 2015 annual report on Form 10-K, including the statutory discount rate assumption of 4.38. The postretirement mortality assumption used for present value calculations is the RP-2014 mortality table, adjusted for GEs experience and factoring in projected generational improvements. Potential Termination Payments In this section, we describe and quantify certain compensation that would have been payable under existing compensation plans and arrangements had a named executives employment terminated on December 31, 2015. For this hypothetical calculation, we have used each executives compensation and service levels as of this date (and, where applicable, GEs closing stock price on this date). Since many factors (e.g. the time of year when the event occurs, GEs stock price and the executives age) could affect the nature and amount of benefits a named executive could potentially receive, any amounts paid or distributed upon a future termination may be different from those shown in the tables below. The amounts shown are in addition to benefits generally available to salaried employees who joined the company before 2005, such as distributions under the Retirement Savings Plan, subsidized retiree medical benefits and disability benefits. Policies on Post-Termination Payments No employment or individual severance agreements. Our named executives serve at the will of the Board and do not have individual employment, severance or change-of-control agreements. This preserves the Compensation Committees flexibility to set the terms of any employment termination based on the particular facts and circumstances. Shareowner approval of severance and death benefits. If the Board were to agree to pay severance or unearned death benefits to a named executive, we would seek shareowner approval. For severance benefits, this policy applies only when the executives employment had been terminated before retirement for performance reasons and the value of the proposed severance benefits exceeded 2.99 times the sum of his base salary and bonus. See the Boards Governance Principles (see Helpful Resources ) for the full policies. Equity Awards The following table shows the intrinsic value of equity awards that would have vested or become exercisable if the named executive had died, become disabled or retired as of December 31, 2015. Intrinsic value is based upon the companys stock price (minus the exercise price in the case of stock options). Amounts shown assume the achievement of all applicable performance objectives. POTENTIAL TERMINATION PAYMENTS TABLE (EQUITY BENEFITS) Click to view table DEATHDISABILITY. Unvested stock options would vest and remain exercisable until their expiration date. In the case of disability, this applies only to options that have been held for at least one year. Unvested RSUs would become fully vested in some cases, depending on the award terms. PSUs would be earned, subject to the achievement of the performance objectives. For these purposes, disability generally means the executive being unable to perform his job. RETIREMENT. Unvested options or RSUs held for at least one year would become fully vested. Options would remain exercisable until their expiration date, upon the named executives either becoming retirement-eligible (reaching the applicable retirement age) or retiring at age 60 or thereafter, depending on the award terms, and provided the award holder has at least five years of service with GE. Each of the named executives other than Mr. Denniston was below the applicable retirement age as of December 31, 2015. Pension Benefits Pension Benefits describes the general terms of each pension plan in which the named executives participate, the years of credited service and the present value of their accumulated pension benefit (assuming payment begins at age 60 or, for Mr. Denniston, age 68). The table below shows the pension benefits that would have become payable if the named executives had died, become disabled or voluntarily terminated as of December 31, 2015. In the event of death before retirement, the named executives surviving spouse may receive the following pension benefits: GE Pension Plan and GE Excess Benefits Plan. Either an annuity, as if the named executive had retired and elected the spousal 50 joint and survivor annuity option prior to death, or an immediate lump-sum payment based on five years of pension distributions, in each case based upon the accrued benefits under these plans. GE Supplementary Pension Plan. A lump-sum payment based on whichever of the following has a higher value: (1) the 50 survivor annuity that the spouse would have received under this plan if the named executive had retired and elected the spousal 50 joint and survivor annuity option prior to death, or (2) five years of pension distributions under this plan. The amounts payable depend on several factors, including employee contributions and the ages of the named executive and surviving spouse. In the event a disability occurs before retirement, the named executive may receive an annuity payment of accrued pension benefits, payable immediately. POTENTIAL TERMINATION PAYMENTS TABLE (PENSION BENEFITS) Roles and Responsibilities in Succession Planning and Compensation Compensation Committee. The committee has primary responsibility for helping the Board develop and evaluate potential candidates for executive positions and for overseeing the development of executive succession plans. As part of this responsibility, the committee oversees the compensation program for the CEO and the other named executives. Management. Our CEO and our senior vice president, human resources, help the committee administer our executive compensation program. The senior vice president, human resources, also advises the committee on matters such as past compensation, total annual compensation, potential accrued benefits, GE compensation practices and guidelines, company performance, industry compensation practices and competitive market information. How We Establish Performance Goals and Evaluate Performance Establishing performance goals. At the beginning of each year, Mr. Immelt develops the objectives that he believes should be achieved for the company to be successful. He then reviews these objectives with the Compensation Committee for the corollary purpose of establishing how the committee will assess his and the other named executives performance, including forming the basis for the performance metrics and strategic goals included in the annual bonus plan. These objectives are derived largely from the companys annual financial and strategic planning sessions, during which in-depth reviews of the companys growth opportunities are analyzed and goals are established for the upcoming year. The objectives include both quantitative financial measurements and qualitative strategic, risk and operational considerations and are focused on the factors that our CEO and the Board believe create long-term shareowner value. Evaluating performance. Mr. Immelt leads the assessment of each named executives individual performance against the objectives established for that executive, the companys overall performance and the performance of the executives business or function, and makes an initial compensation recommendation to the Compensation Committee for each executive. In doing so, he solicits the input of, and receives advice and data from, our senior vice president, human resources. Mr. Immelt also reviews and discusses preliminary considerations as to his own compensation with the committee, but does not participate in the final determination of his compensation. The named executives also play no role in their compensation determinations, other than discussing with the CEO their individual performance against predetermined objectives. Our Policies on Compensation Consultants and Peer Group Comparisons Strategic use of compensation consultants. From time to time, the Compensation Committee and the companys human resources function have sought the views of Frederic W. Cook amp Co. Inc. (Frederic Cook) about market intelligence on compensation trends and on particular compensation programs designed by our human resources function. For 2015, the committee chair and the companys human resources function consulted with Frederic Cook on market practices relating to equity compensation for our named executives. These services were obtained under hourly fee arrangements rather than through a standing engagement. Compensation consultant independence policy. Any compensation consultant that advises the Compensation Committee on executive compensation will not at the same time advise the company on any other human resources matter, and the committee has determined that Frederic Cooks work with the committee and the companys human resources function does not raise any conflict of interest. Limited use of peer group comparisons. The Compensation Committee considers executive compensation at the other Dow 30 companies as just one among several factors in setting pay. It does not target a percentile within this group and instead uses the comparative data merely as a reference point in exercising its judgment about compensation types and amounts. Clawbacks and Other Remedies for Potential Misconduct Clawbacks. The Board may seek reimbursement from an executive officer if it determines that the officer engaged in conduct that was detrimental to the company and resulted in a material inaccuracy in either our financial statements or in performance metrics that affected the officers compensation. If the Board determines that the officer engaged in fraudulent misconduct, it will seek such reimbursement. For more information, see the Boards Governance Principles (see Helpful Resources ). Other remedies. In cases of detrimental misconduct by an executive officer, the Board may also take a range of other actions to remedy the misconduct, prevent its recurrence, and discipline the individual as appropriate, including terminating the individuals employment. These remedies would be in addition to, and not in lieu of, any actions imposed by law enforcement agencies, regulators or other authorities. Share Ownership and Equity Grant Policies Share ownership requirements. We require our named executives to own significant amounts of GE stock as shown on the next page. The required amounts are set at multiples of base salary. All named executives are in compliance with our stock ownership requirements. For details on these requirements, see the Compensation Committees Key Practices (see Helpful Resources ). The named executives ownership is shown in the Common Stock amp Total Stock-Based Holdings Table . STOCK OWNERSHIP REQUIREMENTS (multiples of base salary) 4X for senior vice presidents Holding period requirements. Our executive officers must also hold for at least one year any net shares of GE stock they receive through stock option exercises. No hedging. We believe our executive officers and directors should not speculate or hedge their interests in our stock. We therefore prohibit them from entering into any derivative transactions in GE stock, including any short sale, forward, equity swap, option or collar that is based on GEs stock price. No pledging. We prohibit executive officers and directors from pledging GE stock. No option backdating or spring-loading. The exercise price of each stock option is the closing price of GE stock on the grant date (the date of the Compensation Committee meeting at which equity awards are determined). Board and committee meetings are generally scheduled at least a year in advance and without regard to major company announcements. No option repricing. We prohibit the repricing of stock options. This includes amending outstanding options to lower their exercise price or canceling outstanding options and replacing them with new options. No unearned dividend equivalents . PSUs as well as RSUs granted to executive officers after 2013 do not pay dividend equivalents on shares that are not yet owned. Instead, dividend equivalents are accrued during the vesting or performance period and paid out only on shares actually received. For more information, see the Compensation Committees Key Practices (see Helpful Resources ). Tax Deductibility of Compensation The Internal Revenue Code generally imposes a 1 million limit on the amount that a public company may deduct for compensation paid to the companys named executives. This limitation does not apply to compensation that meets the tax code requirements for qualifying performance-based compensation. With respect to compensation reported in the Summary Compensation Table for 2015, annual cash bonus and LTPA payments as well as PSU, RSU and stock option grants were designed to satisfy the requirements for deductible compensation, but we may pay compensation that does not qualify as deductible. Explanation of Non-GAAP Financial Measures and Performance Metrics Information on how GE calculates the following metrics): Industrial operating Verticals EPS, Industrial operating profit (excluding Alstom), industrial segment operating profit and gross margin (excluding Alstom), free cash flow, operating EPS, total cash, Industrial earnings as a percentage of Industrial operating Verticals earnings, Industrial ROTC, Industrial CFOA, Industrial operating EPS, Industrial SGampA expenses as a percentage of sales (excluding Alstom), adjusted corporate operating costs, GE Capital Verticals earnings, and industrial segment organic revenue growth, is disclosed in the supplemental materials on GEs proxy website (see Helpful Resources ) and in the Supplemental Information8221 section of GEs annual report on Form 10-K for 2015. Information on how GE calculates the funding metrics for the 2015 annual bonus program as well as the performance metrics for the 20132015 LTPA program is also disclos ed in the supplemental materials on GEs proxy website. Caution Concerning Forward-Looking Statements This document contains forward-looking statements that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see geinvestor-relationsdisclaimer-caution-concerning-forward- looking-statements as well as our annual reports on Form 10-K and quarterly reports on Form 10-Q. We do not undertake to update our forward-looking statements. This document also includes certain forward-looking projected financial information that is based on current estimates and forecasts. Actual results could differ materially. Compensation Committee Report The Compensation Committee has reviewed the compensation discussion and analysis (pages 28 through 49) and discussed that analysis with management. Based on its review and discussions with management, the committee recommended to the Board that the compensation discussion and analysis be included in the companys annual report on Form 10-K for 2015 and this proxy statement. This report is provided by the following independent directors, who comprise the committee: John J. Brennan (Chairman) James I. Cash, Jr. Marijn E. Dekkers Andrea Jung Robert W. Lane James E. Rohr Douglas A. Warner IIII If a director serves on more than one of these committees, this additional compensation applies separately for each committee. HOW DEFERRED STOCK UNITS WORK. Each DSU is equal in value to a share of GE stock and is fully vested upon grant, but does not have voting rights. To calculate the number of DSUs to be granted, we divide the target value of the DSUs by the average closing price of GE stock for the 20 days preceding and including the grant date. DSUs accumulate quarterly dividend-equivalent payments, which are reinvested into additional DSUs. The DSUs are paid out in cash beginning one year after the director leaves the Board. Directors may elect to take their DSU payments as a lump sum or in payments spread out for up to 10 years. OTHER COMPENSATION. Our independent directors may also receive the following benefits: Matching Gifts Program. Independent directors may participate in the GE Foundations Matching Gifts Program on the same terms as GE employees. Under this program, the GE Foundation matched up to 25,000 for 2015 contributions to approved charitable organizations. Charitable Award Program. Each director who joined the Board before 2016 may, upon leaving the Board, designate up to five charitable organizations to share in a 1 million GE contribution. Directors may not choose a private foundation with which they are affiliated. Executive Products and Lighting Program. Independent directors may participate in our Executive Products and Lighting Program on the same basis as our named executives. Under this program, directors can receive up to 30,000 in GE appliances over a three-year period. Incidental Board Meeting Expenses. The company occasionally provides travel and sponsors activities for spouses or other guests of the directors in connection with Board meetings. Changes to Director Compensation The Governance Committee reviews director compensation annually and, in connection with these reviews, the Board made the following changes for 2015: Increased GE Capital Committee compensation. The additional compensation for GE Capital Committee members was increased from 25,000 to 50,000 annually in light of the increased demands on this committee (the committee held 21 formal meetings in 2015 and many additional informal sessions). Eliminated Charitable Award Program. For directors joining the Board after 2015, the Board eliminated the Charitable Award Program (under which directors could designate up to five charities to share in a 1 million contribution when they leave the Board). Over the past few years, in line with the companys Simplification initiative, the Board has taken several actions to reduce benefits provided to directors, including lowering the maximum annual match under the Matching Gifts Program from 50,000 to 25,000, and closing the Charitable Award Program to new directors. Director Compensation Table This table shows the compensation that each independent director earned for his or her 2015 Board and committee service. Amounts reflect partial-year Board service for Ms. Fudge, who retired from the Board in April 2015. Click to view table MATCHING GIFTS. Under the terms of the Matching Gifts Program, contributions made within a calendar year are eligible to be matched if they are reported to GE by April 15 of the following year. Amounts shown in this column reflect all contributions reported to the company in 2015, including contributions made in 2014 that were reported to GE by April 2015 and excluding contributions made in 2015 that were reported to the company in 2016. Gifts above 25,000 that were already in place at the time we reduced our matching gift limit from 50,000 (before 2015) to 25,000 (2015 and going forward) were eligible to be matched at the higher limit. The amount reported for Dr. Cash reflects this transition rule. OTHER BENEFITS. This column includes: (1) the fair market value of products received under the Executive Products and Lighting Program and (2) a 1,000,000 contribution under the Charitable Award Program for retired director Fudge. No Other Director Compensation Independent directors do not receive any cash incentive compensation, hold deferred compensation balances or receive pension benefits. Since 2003, DSUs have been the only equity incentive compensation awarded to the independent directors we ceased granting stock options to directors in 2002, and no independent director had stock options outstanding at 2015 fiscal year-end. Directors who are company employees do not receive any compensation for their services as directors. Share Ownership Requirements for Independent Directors All independent directors are required to hold at least 500,000 (5X the cash portion of their annual retainer) worth of GE stock andor DSUs while serving as GE directors. They have five years to meet this ownership threshold. All directors are in compliance with this requirement. Director and Officer (DO) Insurance GE provides liability insurance for its directors and officers. The annual cost of this coverage is approximately 8 million.The Motley Fool: Explaining vested and unvested Vested and unvested Q: Can you explain vested and unvested options - S.Y. , Grand Rapids, Mich A: You become vested when you become eligible to take ownership of something or exercise an option. Imagine that you work at Typewriter Depot (ticker: QWERTY) and youve been awarded stock options on 100 shares of company stock. Lets say that over the next four years, 25 percent of the options vest each April 1. So on April 1, 2013, youll be able to exercise the option and buy 25 shares at the specified price. A year later, another 25 shares will vest. On April 1, 2016, youll be fully vested and can buy all 100 shares (or any shares you havent bought yet) - if you want to. Companies structure rewards this way in order to motivate employees to stick around. Vesting schedules can vary, stretching over few or many years. Parking money for short term Q: Im saving to buy my first home within three years. How should I invest my money to maximize my return on it - B.D. Brooklyn, N.Y. A: The stock market is often the best place for long-term investment appreciation, but for money youll need within a few years, it should be off-limits. In the short run, the stock market can go up - or down. In the long run, it has averaged close to 10 percent per year, but even thats an average, not a guarantee. Dont risk money youll need within five years (or even seven or 10, if youre very risk-averse) in stocks. Short-term funds should be kept in a safer place, such as CDs or money market funds, to protect your principal. Learn more at foolsavings and bankrate . Name that company I was envisioned and coded in 1995 as a marketplace accessible to everyone on Earth. My first sale was a broken laser pointer, and now my sellers offer everything from Pez dispensers to minivans. Born as AuctionWeb, I have a more familiar name now. I boast more than 112 million active users around the globe, and more than 67 billion worth of goods were sold through me in 2012 (excluding vehicles). My PayPal division sports some 122 million active accounts and processed 145 billion of transactions in 2012. Ive also bought Shopping, StubHub and Bill Me Later. Who am I Last Weeks Answer: ADP. Microsoft: unloved and undervalued Shares of Microsoft (Nasdaq: MSFT) grew by an annual average of 14.3 percent over the past 20 years, but only 4.5 percent over the past decade. Despite the reasons for the slowdown, the stock has some appeal at recent levels. It offers a 3.3 percent dividend yield as well. What, exactly, has been going wrong with Microsoft Well, sales of its Windows 8 operating system have been disappointing. Its last reported quarter offered better-than-expected sales for Microsofts Surface tablet, but that device faces tough competition from the iPad, Nexus 7 and others. Bulls point to the companys prodigious cash generation, but much of its income is tied to Windows and Office. which may suffer as PC sales have been shrinking. Even the Internet Explorer browser has been losing market share. The company needs to develop big new profitable business lines, and it has several irons in the fire, such as a partnership with Nokia to develop inexpensive smartphones that could appeal to billions in developing markets. Its developing original entertainment to stream on its home consoles, opening retail stores, and addressing the business realm with servers and other tools. With a forward price-to-earnings, or PE, ratio of about 9 and tens of billions in cash in its coffers, the stock seems undervalued - as long as you have confidence in Microsofts future. (The Motley Fool owns shares of Microsoft.)
Memahami-options-trading-for-pemula
New-global-fx-options-head-at-credit-suisse