LEE ENTERPRISES, Inc
For the period ended Jan 16, 2025. Filed Jan 16, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Jan 16, 2025 · Filed Jan 16, 2025
Contents
Elements of Compensation
Our compensation program reinforces the key drivers of success in the Company’s business. Our financial emphasis is on revenue and operating cash flow. We believe these two measures are key measures of long and short-term success in our industry. Compensation for our NEOs includes the following:
| Element | Description |
|---|---|
| Base Salary | •Determined based on numerous factors such as: |
| ◦Competitive conditions for the Names Executive Officer’s position within the peer group and in the broader employment market, | |
| ◦as well as the Named Executive Officer’s level of responsibility, experience, and individual performance | |
| Annual Incentives | •Tied to annual business performance as measured against annual goals established by the ECC |
| •Varies depending on a wide range of factors, including: | |
| ◦Competitive conditions for the executive officer’s position within the peer group and in the broader employment market, | |
| ◦as well as the executive officer’s level of responsibility, experience, and individual performance | |
| Long-Term Incentives | The revised Long-Term Incentive Plan includes a mix of awards aligned to achieve the best practice of 50% time based and 50% performance based. The revised plan includes the following types of stock awards: |
| •Stock options — Offer the opportunity for executives to purchased shares at the grant date’s fair market value, with vesting over three years to encourage long-term commitment. | |
| •Restricted stock awards — Each restricted stock unit represents the right to receive one ordinary share upon vesting. The restricted stock awards generally vest one-third on each of the first, second, and third anniversary of the grant date. | |
| •Performance share units — reward executives based on the Company’s performance against pre-determined targets, reinforcing accountability to shareholders. Performance share unit represents the right to receive on ordinary share after the end of a three-year performance period if specified performance goals are achieved. |
Our annual cash incentive program places a portion of NEO compensation at risk, based on performance criteria. In addition, stock options, when granted, are inherently performance-based because an option only has value if the stock price rises after the option is granted. In some instances, we also make restricted Common Stock awards conditioned on the achievement of one or more specified performance goals under our Incentive Compensation Program.
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