DEF 14A
KAMAN CORP filed this Form DEF 14A on 03/03/2017
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SUMMARY COMPENSATION TABLE
The table, footnotes and narrative below describe the aggregate compensation earned by each of our Named Executive Officers for our 2016, 2015 and 2014 fiscal years. For information on the role of each component of our executive compensation program, please see the discussion within the "Compensation Discussion and Analysis" section of this proxy statement.
Name and Principal Position
Year
Salary
($)
Bonus
($)
Stock
Awards(1)
($)
Option
Awards(2)
($)
Non-Equity
Incentive Plan
Compensation(3)
($)
Change in
Pension
Value and
Nonqualified
Deferred
Compensation
Earnings(4)
($)
All Other
Compensation(5)
($)
Total
($)
Neal J. Keating
Chairman, President &
Chief Executive Officer
2016
$972,000



$932,980
$146,655
$229,421
$2,281,056
2015
$945,750



$4,017,197
$188,659
$261,318
$5,412,924
2014
$915,750

$899,385

$4,813,820
$454,102
$247,233
$7,330,290
Robert D. Starr
Executive Vice President and Chief Financial Officer
2016
$446,600



$266,006
$17,667
$91,783
$822,056
2015
$413,000



$995,750
$15,128
$96,290
$1,520,168
2014
$380,500

$181,378
$179,368
$999,175
$74,196
$75,830
$1,890,447
Gregory L. Steiner
Executive Vice President and President, Kaman Aerospace Group, Inc.
2016
$460,688

$51,512

$115,195
$47,692
$96,791
$771,878
2015
$446,000

$49,524

$1,086,650
$68,976
$90,649
$1,741,799
2014
$429,650

$175,556

$1,161,863
$152,586
$82,451
$2,002,106
Steven J. Smidler
Executive Vice President and President, Kaman Industrial Technologies Corporation
2016
$369,460



$55,076

$62,562
$487,098
2015
$364,000



$729,727

$68,954
$1,162,681
2014
$359,675



$890,410

$63,201
$1,313,286
Ronald M. Galla(6)
Former Senior Vice President and Chief Information Officer
2016
$377,750



$187,610
$28,425
$73,560
$667,345
2015
$372,625



$609,699

$78,861
$1,061,185
2014
$362,406



$742,179
$539,893
$75,295
$1,719,773
Shawn G. Lisle
Senior Vice President and General Counsel
2016
$355,250



$179,042

$68,138
$602,430
2015
$344,000



$520,497

$73,574
$938,071
2014
$334,000



$555,520

$69,344
$958,864

(1)
Amounts shown in the Stock Awards column reflect the aggregate grant date fair value of restricted stock granted to our Named Executive Officers in accordance with FASB Accounting Standards Codification Topic 718 ("ASC 718"). Amounts shown for Messrs. Keating and Steiner also include the grant date fair value of LTIP awards payable in shares of Common Stock. For a discussion of valuation assumptions, see Note 18 in our Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2016.
(2)
Amounts shown in the Option Awards column reflect the aggregate grant date fair value of stock options granted to our Named Executive Officers in accordance with ASC 718. For a discussion of valuation assumptions, see Note 18 in our Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2016.
(3)
Amounts for 2016 represent annual cash incentive awards earned by the Named Executive Officers under our annual cash incentive plans, which are discussed in the Compensation Discussion and Analysis, but do not reflect amounts that cannot yet be determined but which may become due under outstanding LTIP awards for the 2014–2016 Performance Cycle. The Company will prepare and file a Current Report on Form 8-K disclosing the actual payouts in respect of these awards promptly after they are determined and approved by the Committee in June 2017. Amounts shown for 2015 have been adjusted to reflect the LTIP payouts approved in June 2016 in respect of LTIP awards for performance cycles ended December 31, 2015. Similarly, amounts shown for 2014 have been adjusted to reflect the LTIP payouts approved in June 2015 in respect of LTIP awards for performance cycles ended December 31, 2014. Our LTIP award program is discussed in more detail in the Compensation Discussion and Analysis.
(4)
Represents, to the extent applicable, the aggregate of (i) the total change in the present value of accrued benefits under our defined benefit pension plan and SERP, if applicable, from year to year, and (ii) above market or preferential earnings credited under the Company's non-qualified Deferred Compensation Plan. Messrs. Smidler and Lisle joined the Company after our pension plan and SERP were closed to new participants, so they are not entitled to any pension benefits under these plans. No amount is shown for Mr. Galla in respect of 2015 because the change in the present value of his accrued benefits for such year was negative. None of the NEOs were credited with above market or preferential earnings under the Deferred Compensation Plan for any of the years listed. All of these plans are discussed in more detail in the Compensation Discussion and Analysis.
(5)
The amounts included in this column consist of the following: Participation in our life insurance program for senior executives, employer matching contributions under our 401(k) Plan, supplemental employer contributions earned under our Deferred Compensation Plan, and perquisites consisting of payments for annual physical examinations, a vehicle allowance and personal use of corporate aircraft. The 2016 figures include supplemental deferred compensation earned for Messrs. Keating, Starr, Steiner, Smidler, Galla and Lisle of $168,778, $44,918, $48,345, $16,195, $31,490, and $27,755, respectively. The 2016 figures also include a vehicle allowance of $33,420 for Mr. Keating, $26,460 for Messrs. Starr, Steiner and Smidler, and $20,488 for Messrs. Galla and Lisle; and $13,250 to each Named Executive Officer for the Company 401(k) match. Infrequently, spouses and guests of Named Executive Officers ride along on Company aircraft when the aircraft is already going to a specific destination for a business purpose. This use involves little or no incremental cost to the Company. Where required by law, income was imputed to the Named Executive Officer for income tax purposes for the items described in this footnote and all such amounts are included in the table.
(6)
Retired from the Company effective as of January 3, 2017.


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