Leucadia National Corporation releases salary data. CEO received compensation of $Target compensatio

Leucadia National Corporation just filed its annual proxy statement, which details the salary information of its key executives. In 2019, the company's CEO made Target compensation of $16 million, but award is not vested until the end of the three-year measurement period of compounded
annual Total Shareholder Return (“TSR”)
●2019 Award vests during first quarter of fiscal year 2022.

The table is included below:



















































ANNUAL BASE SALARY





$1 million





SHORT-TERM INCENTIVE






Targeted Amount: $6.5 million per year














Single-year performance award based upon Return on Tangible Deployable Equity (“ROTDE”)







Potential 75% upside if ROTDE is greater than or equal
to 12%







Committee has discretion to increase or decrease
incentive







Upside capped at 100% of target








LONG-TERM INCENTIVE









Targeted Amount: $16 million (3 year test and vesting)













To achieve target, 9% compounded annual TSR
required







Targeted performance results in approximately 30% growth
in share price







Must achieve 6% compound annual TSR to earn any shares







Performance measurements and vesting occur after the end
of the third year






Target compensation of $16 million, but award is not vested until the end of the three-year measurement period of compounded
annual Total Shareholder Return (“TSR”)







2019 Award vests during first quarter of fiscal year 2022







2019 Plan modified by relative TSR performance:








TSR Performance Metric










If relative compounded annual TSR is below
50

th

percentile, award capped at target







If relative compounded annual TSR is above
50

th

percentile, award increases by between 1.5% and 75% of target












3-year performance cycle measuring three-year compounded
annual TSR







All RSUs are forfeited if three-year compounded annual
TSR < 6%







Targeted 9% three-year compounded annual TSR
(approximately 30% growth in stock price)







Relative TSR Modifier







Responding directly to our January–February 2019
engagement with our fellow shareholders, we set the relative TSR modifier at the 50

th

percentile versus our peers (i.e., the median)







If relative TSR < 50

th

percentile, RSU
award capped at target even if absolute TSR is > 9%







If relative TSR > 50

th

percentile, RSU
award increases by 1.5% of target compensation for each percentile point above median, but only if absolute TSR ≥ 9%



The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Quarterly report filed by institutional managers, Holdings - Nov. 13, 2020

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