2006 Executive Officer Compensation Summary Sheet for CoStar Group, Inc.
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Summary
This document outlines the 2006 compensation plan for executive officers of CoStar Group, Inc., including base salaries, bonus amounts, and grants of restricted stock. Bonuses are determined by a mix of corporate financial performance and individual or team goals, with specific percentages and ranges for each executive. Restricted stock awards vest over four years. The plan also notes that salary increases are effective April 1, 2006, and that one executive is eligible for additional monthly commissions based on company revenue.
EX-10.1 2 w20556exv10w1.htm EXHIBIT 10.1 exv10w1
Exhibit 10.1
Summary Sheet regarding Compensation for Executive Officers
| 2006 Bonus Criteria (4) | ||||||||||||||||||||||||
| 2005 | Shares of | Corporate/ | Individual/Team | |||||||||||||||||||||
| 2006 Base | Bonus | Restricted | Bonus | Financial | Performance | |||||||||||||||||||
| Name | Title | Salary (1) | Amount | Stock (2) | Range (3) | Goals | Goals | |||||||||||||||||
Andrew C. Florance | President & Chief Executive Officer | $ | 405,363 | $ | 272,473 | 12,625 | 0-100% | 75 | % | 25 | % | |||||||||||||
Frank A. Carchedi | Chief Financial Officer & Treasurer | $ | 226,455 | $ | 141,855 | 3,443 | 50-80% | 60 | % | 40 | % | |||||||||||||
Christopher Tully (5) | Sr. Vice President Sales & Customer Service | $ | 238,680 | $ | 64,260 | 2,967 | 0-35% | 0 | %(5) | 100 | % | |||||||||||||
Craig Farrington | Vice President Research | $ | 178,432 | $ | 93,291 | 1,952 | 0-75% | 40 | % | 60 | % | |||||||||||||
| (1) | All salary increases will be effective as of April 1, 2006. | |
| (2) | The shares of restricted stock were granted to the executives under the Company’s 1998 Stock Incentive Plan, as amended. The shares vest over a four-year period, one-fourth on each of April 27, 2007, April 27, 2008, April 27, 2009 and April 27, 2010. A form of restricted stock agreement has been filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ended December 31, 2004 and is incorporated by reference herein. | |
| (3) | The bonus range represents a percentage of the executive’s base salary. | |
| (4) | The table sets forth the break down for each executive officer of the percentage of such officer’s bonus that is based on achievement of corporate/financial goals and the percentage of such officer’s bonus that is based on achievement of individual/team performance goals. The criteria that the Committee uses to determine bonuses include, without limitation, the level of achievement of goals based on the following criteria: Company revenues, Company earnings, research, data quality, new and enhanced products, software development, management, customer service, accounts receivable, human resources, investor relations, financial reporting and sales. The criteria differ for each of the executive officers. | |
| (5) | Mr. Tully also has the ability to earn monthly commissions based on the Company’s monthly net new revenue amounts. |
