Windstream 2014 Annual Report Download - page 48

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44 |
(3) Performance-based shares were scheduled to vest on February 15, 2015, if at all, based on achievement of
performance objectives set by the Compensation Committee for fiscal 2014. Also includes overachievement
shares related to the 2012 grant of PBRSUs as noted in footnote 6 of the “Grants of Plan-Based Awards” table.
As a result of actual performance, none of the shares reported vested.
(4) Performance-based shares were scheduled to vest on March 1, 2015, if at all, if Windstream achieved the
performance objectives set by the Compensation Committee for fiscal 2014. As a result of actual performance,
none of the shares reported vested.
(5) Performance-based shares will vest February 15, 2016, if at all, if Windstream achieves the performance
objectives set by the Compensation Committee for fiscal 2015. Also includes overachievement shares related to
the 2013 grant of PBRSUs as noted in footnote (5) of the “Grants of Plan-Based Awards” table.
(6) Performance-based shares will vest March 1, 2016, if at all, if Windstream achieves the performance objectives
set by the Compensation Committee for fiscal 2015.
(7) Performance-based shares will vest on March 1, 2017, if Windstream achieves the performance objectives
set for fiscal 2016, which have not yet been established by the Compensation Committee. Also includes
overachievement shares related to the 2014 grant of PBRSUs as noted in footnote 4 of the “Grants of Plan-
Based Awards” table.
(8) Shares vested in full on February 15, 2015.
(9) Shares vested in full on March 1, 2015.
(10) Shares scheduled to vest in full on February 15, 2016.
(11) Shares scheduled to vest in full on March 1, 2016.
(12) Shares scheduled to vest in full on March 1, 2017.
(13) Shares scheduled to vest in full on December 19, 2017.
(14) Per Mr. Gardner’s separation agreement, all of these shares vested on February 1, 2015. 518,285 shares were
forfeited and cancelled in connection with his resignation on December 11, 2014.
(15) Per Mr. Whittington’s separation agreement, a pro-rated portion of these shares vested on March 1, 2015. As
Mr. Whittington was employed through September 1, 2014, two-thirds of these shares, or 57,479 shares, vested
on March 1, 2015.
OPTION EXERCISES AND STOCK VESTED
The following table shows information regarding the exercise or vesting of equity-based awards of Windstream
during 2014 by the individuals named below.
Name
Stock Awards (1)
Number of Shares
Acquired on Vesting
(#)
Value Realized
on Vesting
($)
Anthony W. Thomas 102,286 (2) 810,105
Robert E. Gunderman 16,981 (2) 134,490
John P. Fletcher 102,286 (2) 810,105
J. David Works, Jr. 48,032 (2) 380,413
John C. Eichler 23,322 (2) 184,710
Jeffery R. Gardner 628,824 (2) 4,980,286
Brent Whittington 135,455 (2) 1,072,804
160,824 (3) 1,818,919
(1) Windstream does not grant stock options and therefore had no option exercises by any NEO in 2014.
(2) Shares vested on February 15, 2014 with a closing price of $7.92.