|
Fortune Rank |
Company |
Requirement |
|
295 |
Air Products & Chemicals Proxy Statement (12/13/04) |
In 2004, the Executive Officers' long-term incentives were
shifted from stock options to restricted stock. Restricted
stock awarded to Executive Officers in fiscal 2004 vests
upon retirement, disability or death.
|
|
|
AmSouth
Proxy Statement (3/15/04)
|
The named executive officers were granted shares of
restricted stock in 2001 that do not vest until retirement.
Full legal ownership of these shares does not vest until
retirement, and they will be forfeited if an executive’s
employment is terminated prior to retirement by him or her
voluntarily or involuntarily by AmSouth, except in the case
of a change in control, death or disability. |
|
79 |
Bank One Corp.
Proxy Statement (3/5/03) |
The
Committee has established stock ownership guidelines for
members of the Planning Group that require a minimum
ownership level as well as a requirement that each executive
retain at least 75% of all equity-based awards in excess of
the guideline ownership level.
|
|
388 |
Becton Dickinson
Proxy Statement (12/17/04)
|
Each career share represents the right to receive one share of BD common stock upon vesting. The career shares are distributable ratably over a five-year period after retirement or other events, such as involuntary termination without cause. |
|
98 |
Bristol-Myers Squibb
Proxy Statement (3/26/04) |
Executives are expected to use the shares obtained on the exercise of their stock options, after satisfying the cost
of exercise and taxes, to establish a significant level of
direct ownership. The Chief Executive Officer must retain
shares with a value of 8 times his base salary prior to
selling any of the net shares obtained upon exercise. The
other named executive officers must retain shares with a
value of 5 times their base salary prior to selling any of
the net shares obtained upon exercise. Even after these
ownership thresholds are satisfied, executives must retain
25% of all net shares obtained as a result of subsequent
option exercises.
|
|
6 |
Citigroup
Proxy Statement (3/16/04) |
Directors and
senior management, approximately 125 individuals in all,
have entered into a stock ownership commitment, which
provides that each of such individuals will hold at least
75% of all Citigroup common stock owned by him or her on the
date he or she becomes subject to the commitment and awarded
to him or her in the future, subject to certain minimum
ownership guidelines, as long as he or she remains a
director or member of senior management. The only exceptions
to the stock ownership commitment are gifts to charity,
limited estate planning transactions with family members,
and transactions with Citigroup in connection with
exercising employee stock options or paying withholding
taxes under equity compensation plans.
|
|
84 |
ConAgra Foods
Proxy Statement(8/12/04)
|
We prohibit our directors and executive
officers from selling ConAgra Foods stock, whether acquired
on option exercise or otherwise, at any time until six
months have passed since the termination of his or her
directorship or executive position with the Company except
for extraordinary corporate transactions approved by the
board and for emergency or extraordinary situations with 2/3
board approval.
|
|
131 |
Deere & Co.
Proxy Statement (1/2/05) |
The deferred stock units are credited
to directors under the Nonemployee Director Deferred
Compensation Plan. The value of the units are subject to the
same market risks as Deere common stock. The units are
payable only in cash and, with limited exceptions, must be
held until the director’s retirement from the Board.
|
|
149 |
Eastman Kodak
Proxy Statement (4/5/04) |
The retention ratio concept requires an executive officer to
retain a specified percentage of the shares attributable to
stock option exercises or the vesting and earn-out of full
value shares until the executive officer attains his or her
ownership requirements. (CEO/COO-President: 100%; EVPs and
SVPs: 75%; Other Executive Officers: 50%)
|
|
26 |
J.P. Morgan Chase
|
Effective August 2002, the committee approved stock
ownership guidelines for Executive Committee members that
require each executive to retain 75% of the net shares of
stock received from stock grants and options (after
deductions for taxes and option exercise costs).
|
|
|
MCI
Bylaws (4/19/04) |
Senior
management employees (those employees who report directly to
the CEO, Chief Operating Officer or the Board) shall retain
an amount of equity which equals at least 75% of the net
after-tax value of all equity awards received from the
Corporation until a date at least six months following the
termination of their employment, other than sales of such
equity awards in hardship situations approved by the Board
or a committee of the Board. The Board or a committee of the
Board may set forth in a Corporate Policy retention
requirements for other levels of employees. The Board or a
committee of the Board shall set forth in a Corporate Policy
mandatory levels of stock ownership to be reached and
maintained by different levels of management.
|
|
40 |
Morgan Stanley Management Committee Equity Ownership Commitment |
Seventy-five percent retention requirement for all management committee members. |
|
187 |
UnumProvident
Proxy Statement (4/7/04) |
Under
the equity retention program, the CEO and Chief
Administrative officer are required to hold 100% of shares
acquired for at least (3) years following acquisition and
75% of the shares are required to be held until retirement
or termination. For the remaining named executive officers,
the program indicates that 60% of the shares are required to
be held for at least 3 years following acquisition and 30%
of the shares are required to be held until retirement or
termination.
|
|
70 |
Wachovia
Proxy Statement (3/15/04) |
Board
members and executive officers are required to retain
ownership of at least 75% of any common stock acquired by
them through our stock compensation plans, after taxes and
transaction costs.
|
|
46 |
Wells Fargo
Proxy Statement (3/19/04) |
Under
stock ownership guidelines established by the Committee, each executive officer is expected to retain
shares of the Company’s common stock equal to at least 50%
of the after-tax profit shares (assuming a 50% tax rate)
acquired through option exercises. The number of shares
expected to be owned under these guidelines continues to
increase each time an executive officer exercises a stock
option.
|
