Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Based on the information in the excerpt below, if the target award opportunity is 19,952 Performance-based Restricted Stock Units, what is the maximum number of

image text in transcribed Based on the information in the excerpt below, if the target award opportunity is 19,952 Performance-based Restricted Stock Units, what is the maximum number of Performance Based Restricted Stock Units that can be earned? Please answer without commas (Example: 1000 rather than 1,000) * Performance-Based Restricted Stock Units. The CMD Committee determines the number of performance-based restricted stock units required to deliver the targeted award value ( 60% of the fiscal 2012 long-term incentive award opportunity) to the Named Executives by dividing the targeted award dollar value by the closing price of Macy's common stock on the date of the grant. Maximum Award Opportunity. A maximum award of 150% of the target award of performance-based restricted stock units is funded following the end of the three-year (fiscal 2012-2014) performance period if cumulative EBITDA earned over the performance period is at least $8.0 billion. In determining the actual number of units to be paid, the CMD Committee has the discretion to adjust the maximum award based on our performance against pre-established performance objectives, as explained below. Determination of Actual Award. Subject to the attainment of the \$8.0 billion cumulative EBITDA threshold over the three-year (fiscal 2012-2014) performance period, the awards granted in fiscal 2012 may pay out from 0% to 150% of the target award opportunity based on our performance against average EBITDA Margin, average ROIC, and relative TSR objectives over the three-year performance period (as such calculations are described beginning on page 67), as follows

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Brinks Modern Internal Auditing A Common Body Of Knowledge

Authors: Robert R. Moeller

8th Edition

9781119016984

More Books

Students also viewed these Accounting questions