Our strong commitment topay-for-performance is demonstrated by the link between actual performance and incentive payouts, both short- and long-term. The Committee sets short- and long-term performance goals at challenging levels to incentivize outstanding achievement by our executive officers.
| ◆ | Variable pay makes up 87% of the CEO’s target annualized compensation, with 61% at-risk and 26% time vested |
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| ◆ | Variable pay for the other NEOs averages 75% with 55% at-risk and 20% time vested |
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The STIP aligns short-term cash incentives with the level of individual performance and contributions to the Company’s overall performance. Mr. Symancyk, Ms. Drosos and Ms. Wooters have 100% of their STIP award opportunity based on the achievement of corporate-wide performance goals. Ms. Hilson has goals split between Corporate performance and Jewelry Services, based on her leadership role for that business. Ms. Singleton’s goals are split between Corporate and the Brands she led (Kay, Zales, Peoples, and Banter). Mr. Edelman’s goals are split between Corporate and the Digital Brands that he led.
| SIGNET JEWELERS | 46 | 2025 PROXY STATEMENT |
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For Fiscal 2025, the STIP performance metrics included:
| ◆ | 50% Adjusted Operating Income; |
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| Fiscal 2025 Annual Incentive (STIP) |
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| Name | Corporate | Brands | Payout % Range |
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| J.K. Symancyk | 100% | 0% | 0%–200% |
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| Virginia C. Drosos | 100% | 0% | 0%–200% |
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| Joan M. Hilson | 75% | 25% | 0%–200% |
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| Jamie L. Singleton | 50% | 50% | 0%–200% |
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| Rebecca Wooters | 100% | 0% | 0%–200% |
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| Oded Edelman | 50% | 50% | 0%–200% |
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The LTIP aligns senior management’s interests with shareholders’ interests and long-term performance.
| ◆ | PSUs granted under the LTIP align long-term incentives with corporate-wide performance. The Fiscal 2023-2025 PSUs had a two-year performance period which was established during COVID, based on uncertainties in the market that made goal setting over 3-years more challenging. The Fiscal 2024 and later grants include a return to a more standard 3-year performance period for all participants. |
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| ◆ | Payout of PSUs under the LTIP is based on the achievement of performance metrics established at the grant date measured over a two- or three-fiscal year performance measurement cycle (and full vesting requires three-years of service following the performance measurement cycle beginning date or the grant date). |
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| ◆ | The Fiscal 2025 PSU grant utilized metrics of 50% Free Cash Flow and 50% Revenue, each measured over three years (Fiscal 2025 through Fiscal 2027) for vesting of these awards. The Fiscal 2024 grant also had a three-year performance period and vesting service period Fiscal 2024 through Fiscal 2026. |
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| ◆ | PSU payouts typically range from 0% to 200% of target, based on the level of performance achievement during the applicable performance period, with a payout of 25% (for Fiscal 2023 and earlier grants) to 50% (for grants made in Fiscal 2024 and later) of target at threshold performance and a payout of 200% of target at maximum performance. |
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More information with respect to the selection of these performance metrics, actual performance and resulting payouts under the STIP and LTIP, along with other elements of our executive compensation program, is provided below.
