Fiscal Year 2018 Annual Cash Incentive Award Payment Calculations
The annual cash incentive awards for our Chief Executive Officer and each of our other NEOs (other than Messrs. Akiri and Earle whose annual cash incentive awards were paid as part of their severance benefits which are described in more detail on page 48 of this proxy statement) for fiscal year 2018 were calculated as follows:
Named Executive Officer
FY 2018 Base Salary
Target Award Percentage
Actual Cumulative Performance Scores
Actual FY 2018 Cash Incentive Award
Jonathan E. Baliff
L. Don Miller
Brian J. Allman
E. Chipman Earle
For Messrs. Corbett and Phillips fiscal year 2018 base salary includes the lower base salary from page 33 of this proxy statement that was applicable between April 1, 2017 and June 7, 2017 and the higher base salary from page 33 of this proxy statement that was applicable between June 8, 2017 and March 31, 2018.
(2) In recognition of an increase in responsibilities relating to his title change from Region Director for the Europe Caspian Region to Vice President, Europe, Africa, Middle East, Asia (EAMEA) as of June 8, 2017, Mr. Corbett received an increase in his target annual incentive award for fiscal year 2018 from 45% of his base salary to 50% of his base salary that was effective from June 8, 2017 to March 31, 2018.
3. Long-Term Equity and Performance Cash Incentive Compensation
Long-term incentive equity and performance cash awards are used by the Compensation Committee to focus management attention on Company performance over a period of time longer than one year in recognition of the long-term horizons for return on investments and strategic decisions in our business. The awards are designed to motivate management to assist the Company in achieving a high level of long-term performance while discouraging excessive short-term risk taking and serve to link this portion of executive compensation to long-term stockholder value. They are also designed to assist in executive retention through extended vesting periods. Aggregate stock or option holdings of the executive, except as they may relate to compliance with any applicable stock ownership guideline, have no bearing on the size of a long-term incentive award.
The long-term incentive compensation for each of our executive officers, including each of our NEOs consists of three components as summarized in the following table:
BRISTOW GROUP INC. – 2018 Proxy Statement – 37