SEC Filings

DEFR14A
MEDTRONIC PLC filed this Form DEFR14A on 10/11/2017
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Group. For example, the Independent Consultant analyzes Messrs. Coyle and Hanson’s compensation compared to compensation of the median base salary range for business group leaders of companies in the Comparison Group. Using this market data for each of the NEOs, the Compensation Committee approves base pay increases to maintain base salary within the market median range, again, taking into account individual factors such as performance, potential, expertise, and experience.

 

The table below shows the Fiscal Year 2017 base salary increases for the CEO and each NEO (excluding Mr. Ellis and Ms. Parkhill with respect to the CFO role, which is discussed on the previous page).

 

Name

FY2016
Salary

(000s)

FY2017
Salary

(000s)

%
Increase
Omar Ishrak $ 1,549 $ 1,596 3.0 %
Michael J. Coyle $ 800 $ 880 10.0 %
Bryan C. Hanson $ 765 $ 840 9.8 %
Rob ten Hoedt $ 775 $ 800 3.2 %

 

Fiscal Year 2017 Annual Incentive Target Pay

 

Using the same analytical approach described for the annual base salary, the Independent Consultant identifies the median for annual incentive target pay for the CEO and each NEO, which is set as a percentage of annual base salary. No changes were made to Fiscal Year 2017 annual incentive target pay. The table below shows Fiscal Year 2017 CEO and NEO annual incentive target pay as a percentage of base salary (Mr. Ellis and Ms. Parkhill were discussed on previous page).

 

Name

FY2016
MIP

Target

FY2017
MIP

Target

%

Increase/

(Decrease)

Omar Ishrak   175 %   175 % 0 %
Michael J. Coyle   100 %   100 % 0 %
Bryan C. Hanson   100 %   100 % 0 %
Rob ten Hoedt   100 %   100 % 0 %

 

Fiscal Year 2017 Long-Term Incentive Plan (LTIP) Target Pay

 

Using the same analytical approach described for the annual base salary and annual target incentive, the Independent Consultant identifies the median for long-term incentive plan target pay for the CEO and each NEO, which is set as target value. For Fiscal Year 2017, changes made to the long-term incentive plan target pay for the CEO and NEOs were based on changes in the market median value. The table below shows Fiscal Year 2017 CEO and NEO target long-term incentive pay as a percentage of base salary (Mr. Ellis and Ms. Parkhill were discussed on previous page).

 

Name

FY2016 LTIP

Target
(000s)

FY2017 LTIP

Target
(000s)

%

Increase

Omar Ishrak $ 13,000 $ 13,500 3.8 %
Michael J. Coyle $ 3,650 $ 4,100 12.3 %
Bryan C. Hanson $ 2,900 $ 3,650 25.9 %
Rob ten Hoedt $ 2,300 $ 2,300 0.0 %

 

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