SEC Filings

DEFR14A
MEDTRONIC PLC filed this Form DEFR14A on 10/11/2017
Entire Document
 

Target total direct compensation represents base salary + target annual incentive + target long-term incentive

 

    FY 2016   FY 2017   % Change  
Base Salary (000s) $ 1,549 $ 1,596   3.0  
Target Annual Bonus (000s) $ 2,711 $ 2,792   3.0  
Long-Term Incentives (000s) $ 13,000 $ 13,500   3.8  
Target Total Direct Compensation (000s) $ 17,260 $ 17,888   3.6 %

 

NEO Pay Versus Performance

 

The Compensation Committee annually evaluates how the amount of annual cash compensation aligns with the Company’s performance when ranked against the comparison companies. For purposes of this analysis, annual size and performance is evaluated based on company size, profitability, and growth; annual cash compensation represents the actual base salaries and annual bonuses paid for each fiscal year. As illustrated below, total annual compensation for the NEOs has been directionally aligned with the Company’s size and performance over the last five fiscal years.

 

PERFORMANCE VERSUS TOTAL ANNUAL COMPENSATION
MEDTRONIC VERSUS COMPENSATION COMPARISON GROUP OF COMPANIES

 

 

Consideration of “Say-on-Pay” Voting Results

 

For Fiscal Year 2016, the Medtronic advisory vote on “say-on-pay” garnered shareholder support of 95%. The Compensation Committee reviewed shareholder and other stakeholder feedback along with the results of the shareholder “say-on-pay” vote in making compensation decisions during Fiscal Year 2016.

 

At our 2016 annual meeting, shareholders again showed strong support for our executive compensation programs with 95% of the votes cast approving our executive compensation

 

Efforts to gather stakeholder feedback included periodic outreach to our largest shareholders. Based on this feedback and the 95% say-on-pay approval by shareholders in 2016, shareholders support our compensation policies and practices. Therefore, the Compensation Committee continued to apply the same principles in determining Fiscal Year 2017 compensation actions. The Medtronic advisory “say-on-pay” vote is held on an annual basis.

 

MEDTRONIC PLC   2017 Proxy Statement    34

 
X