SEC Filings

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

EXECUTIVE COMPENSATION

 

2017 Summary Compensation Table

 

The following table summarizes all compensation for each of the last three fiscal years awarded to, earned by, or paid to the Company’s Chief Executive Officer, Chief Financial Officers, and three other most highly compensated executive officers during Fiscal Year 2017 (collectively, the named executive officers or “NEOs”). Please refer to the section entitled “Compensation Discussion and Analysis” beginning on page 32 of this proxy statement for a description of the compensation components for Medtronic’s NEOs. A narrative description of the material factors necessary to understand the information in the table is provided below, following the table.

 

Name and
Principal Position
Fiscal
Year
Salary
($)
Bonus
($)
Stock
Awards
($)
Option
Awards
($)
Non-Equity
Incentive Plan
Compensation
($)
Change in
Pension Value
and Nonqualified
Deferred
Compensation
Earnings
($)

All Other

Compensation(1)

($)

Total
($)
  Total
Without
Excise Tax
Gross-up
($)
Omar Ishrak
Chairman and Chief Executive Officer
2017 1,593,770 0 4,500,042 3,037,488 6,136,139 245,561 173,858 15,687,287   15,686,858
2016 1,548,216 0 4,333,368 3,017,788 6,070,758 212,185 90,299 15,272,615   15,272,615
2015 1,503,123 0 3,500,062 3,078,407 5,607,741 192,470 24,661,275 38,543,078   13,936,288
Karen L. Parkhill
Executive Vice President and Chief Financial Officer
2017 620,192 1,000,000 5,400,052 691,882 778,883 934,554 9,425,993   9,425,563
Michael J. Coyle
Executive Vice President & Group President Cardiac and Vascular Group
2017 876,923 0 5,366,729 939,375 1,721,808  — 123,725 9,028,989   9,028,560
2016 799,000 0 1,216,722 864,734 1,653,720  — 110,221 4,644,397   4,644,397
2015 747,577 0 892,008 806,555 1,517,824  — 5,650,445 9,614,410   4,070,276
Bryan C. Hanson
Executive Vice President & Group President, Minimally Invasive Therapies Group
2017 837,116 0 5,216,762 838,134 793,044 85 86,050 7,771,620   7,771,191
2016 775,789 25,000 966,732 690,624 847,926 614 115,411 3,422,096   3,422,096
2015 (partial) 400,758 1,000,000 3,800,104 1,411,736 480,727  — 4,844,490 11,937,815   7,182,656
2014 595,285 0 1,610,042 963,739 736,501 535 80,688 3,986,790   3,986,790
Rob ten Hoedt(2)
Executive Vice President & President Europe, Middle East and Africa Region
2017 781,417 0 1,766,748 534,380 1,044,847 1,068,942 187,227 5,383,561   5,383,561
Gary L. Ellis(3)
Former Executive Vice President and Chief Financial Officer
2017 649,519 0 1,458,362 1,001,252  1,729,783  520,673 34,270 5,394,099   5,393,859
2016 874,135 0 1,458,366 1,033,031 1,996,820 667,106 35,528 6,064,985   6,064,985
2015 828,962 0 1,117,002 1,004,447 1,782,587 734,266 9,061,703 14,528,967   5,504,302

 

(1) Fiscal Year 2015 includes the cost to Medtronic for the Covidien acquisition-related excise tax gross-up payments, which were payable on behalf of Medtronic’s NEOs. The values for Fiscal Year 2015 have been updated to represent actual cost to Medtronic. The proxy statement filed on July 24, 2015 included estimated values.

 

Name  Fiscal
Year
   Excise Tax
Reimbursement
(a)   All Other Compensation
Excluding Excise Tax
Reimbursement
   Total All Other
Compensation
 
Omar Ishrak   2015   $24,606,790   $54,485   $24,661,275 
Michael J. Coyle   2015   $5,544,134   $106,311   $5,650,445 
Bryan C. Hanson   2015   $4,755,159   $89,331   $4,844,490 
Gary L. Ellis(3)   2015   $9,024,665   $37,038   $9,061,703 
  (a) This total only includes excise tax gross up payments related to the Covidien acquisition.

 

(2) Mr. ten Hoedt was not a Named Executive Officer for Fiscal Year 2015 or 2016. For Mr. ten Hoedt, amounts paid in Swiss francs were translated to U.S. dollars as of April 28, 2017 at a rate of 1 Swiss Franc = 1.01389 U.S. Dollars.
   
(3) Mr. Ellis retired from Medtronic effective December 31, 2016.

 

MEDTRONIC PLC   2017 Proxy Statement    50

 
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