SEC Filings

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

TABLE OF CONTENTS

 

PROXY SUMMARY   05
     
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS   11
     
PROPOSAL 1 — ELECTION OF DIRECTORS   12
     
Directors and Nominees   12
     
CORPORATE GOVERNANCE   19
     
Our Corporate Governance Principles   19
Lead Independent Director and Chairman; Executive Sessions   19
Board Role in Risk Oversight   19
Compensation Risk Assessment   20
Committees of the Board and Meetings   20
Director Independence   26
Related Party Transactions and Other Matters   26
Complaint Procedure; Communications with Directors   27
Our Codes of Conduct   27
Director Compensation   28
     
SHARE OWNERSHIP INFORMATION   30
     
Significant Shareholders   30
Beneficial Ownership of Management   30
Section 16(a) Beneficial Ownership Reporting Compliance   31
     
COMPENSATION DISCUSSION AND ANALYSIS   32
     
Executive Summary   32
Participants in Executive Compensation Design and Decision-Making Process   35
Executive Compensation Philosophy   36
Executive Compensation Program Design   37
How We Establish Executive Compensation Levels   38
Fiscal Year 2017 Compensation Decisions   39
Fiscal Year 2017 Annual Incentive Plan Design   41
Fiscal Year 2017 Long-Term Incentive Plan (LTIP) Design   43
Fiscal Year 2017 Annual and Long-Term Incentive Plan Payouts   44
Other Benefits and Perquisites   46
Executive Compensation Governance Practices and Policies   48
     
COMPENSATION COMMITTEE REPORT   49
     
EXECUTIVE COMPENSATION   50
     
2017 Summary Compensation Table   50
2017 Grants of Plan-Based Awards   53
2017 Outstanding Equity Awards at Fiscal Year End   54
2017 Option Exercises and Stock Vested   57
2017 Pension Benefits   57
2017 Nonqualified Deferred Compensation   59
Potential Payments Upon Termination or Change of Control   62
Equity Compensation Plan Information   64
     
REPORT OF THE AUDIT COMMITTEE   65
     
AUDIT AND NON–AUDIT FEES   66
     
PROPOSAL 2 — NON–BINDING RATIFICATION OF INDEPENDENT AUDITOR AND BINDING AUTHORIZATION OF THE BOARD OF DIRECTORS, ACTING THROUGH THE AUDIT COMMITTEE, TO SET AUDITOR REMUNERATION   67
     
PROPOSAL 3 — ADVISORY RESOLUTION TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION (“SAY–ON–PAY”)   68
     
PROPOSAL 4 — TO APPROVE THE AMENDMENT AND RESTATEMENT OF THE MEDTRONIC PLC AMENDED AND RESTATED 2013 STOCK AWARD AND INCENTIVE PLAN   69
     
QUESTIONS AND ANSWERS ABOUT THE ANNUAL GENERAL MEETING   78
     
OTHER INFORMATION   80
     
Expenses of Solicitation   80
Shareholder Proposals and Director Nominations   80
Delivery of Documents to Shareholders Sharing an Address   80
Notice Regarding Adoption of Financial Reporting Standards (“FRS”) 102   81
Other   81
     
APPENDIX A — NON–GAAP RECONCILIATIONS   A-1
     
APPENDIX B — MEDTRONIC PLC AMENDED AND RESTATED  2013 STOCK AWARD AND INCENTIVE PLAN   B-1
 
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