Logitech 2015 Annual Report Download - page 98

Compensation Report for Fiscal Year 2015
– Proxy Statement | 88
2015 Annual General Meeting Invitation, Proxy Statement
(4) These amounts do not represent the actual economic value realized by the named executive officer. Amounts
in this column represent the grant date fair value of RSUs calculated in accordance with Accounting Standards
Codification (ASC) 718 but does not include any reduction for estimated forfeitures. For performance-based
RSUs (“PSUs”) based on Total Shareholder Return (“TSR”), that number is calculated by multiplying the value
determined using the Monte Carlo method by the target number of units awarded. For RSUs and PSUs based on
Non-GAAP Operating Income Margin, that number calculated based on the closing price of Logitech shares on
the grant date multiplied by the number of shares granted, adjusted for dividend yield. The key assumptions for
the valuation of the PSUs are presented in Note 4 to the Consolidated Financial Statements included in Logitech’s
Annual Report to Shareholders and Annual Report on Form 10-K for fiscal year 2015.
(5) Represents PSUs based on TSR. All shares subject to the PSU vesting conditions are unvested. The actual
amount, if any, of shares that will vest under the PSU grants will not be known until March 31, 2017. The actual
amount, if any, that may vest depends on Logitech’s TSR performance versus the Nasdaq-100 Index TSR
benchmark over the performance period.
(6) Represents PSUs based on Non-GAAP Operating Income Margin. All shares subject to the PSU vesting conditions
are unvested. The actual amount, if any, of shares that will vest under the PSU grants will not be known until
March 31, 2017. The actual amount, if any, may vest depends on the achievement of a target level of Non-GAAP
Operating Income Margin.
(7) Mr. Stolk’s bonus amounts were converted using the 12 month average (April 2014 to March 2015) exchange rate
of 1 Swiss Franc to 1.0784 U.S. Dollars.
Narrative Disclosure to Summary Compensation Table and Grants of
Plan-Based Awards Table
Employment Agreements and Offer Letters
We have entered into employment agreements or offer
letters with each of our named executive officers. The
employment agreements and offer letters generally
provide that the compensation of the named executive
officer is subject to the sole discretion of the Compensation
Committee or the Board of Directors. The compensation
earned by the named executive officers in fiscal year
2015 was not the result of any terms of their employment
agreements or offer letters.
Performance-Based Vesting Conditions
Please refer to “Compensation Disclosure and Analysis—
Elements of Compensation—Performance-based cash
incentive awards” for a discussion of the performance
measures applicable to the Bonus Plan during fiscal
year 2015. In addition, please refer to “Compensation
Disclosure and Analysis—Compensation Elements—
Long-Term Incentive Compensation” for a discussion
of performance measures under the PSUs granted to
executive officers during fiscal year 2015.