Executive Compensation and Equity Awards
Exhibit 10.1
Executive Compensation and Equity Awards
Note: The following summary of compensation arrangements does not include all previously-reported compensation arrangements or awards granted under previously-disclosed incentive plans. Disclosures with respect to compensation for Named Executive Officers for the 2011 fiscal year will be included in the Companys definitive proxy statement for the Companys 2012 Annual Meeting of Shareholders, and disclosures with respect to compensation for Named Executive Officers for the 2012 fiscal year will be included in the Companys definitive proxy statement for the Companys 2013 Annual Meeting of Shareholders.
At a meeting of the Compensation Committee of the Board of Directors of DigitalGlobe, Inc. (the Company) held on March 6, 2012, the Compensation Committee (a) determined and approved the 2012 base salaries and 2011 cash bonus awards for the Companys named executive officers (as defined in Item 402(a)(3) of Regulation S-K promulgated by the Securities and Exchange Commission) under the Companys 2011 Executive Success Sharing Plan, (b) determined and approved the 2012 target bonus percentage for each of the named executive officers under the Companys Executive Success Sharing Plan and (c) granted long-term incentives to the named executive officers under the 2011 Executive Success Sharing Plan, delivered 70% in the form of stock options and 30% in the form of restricted shares of our stock pursuant to the Companys 2007 Employee Stock Option Plan, as set forth in the table below. Dollar values for the 2012 long-term incentive awards are based upon the valuation of the options and restricted stock at the time of grant. The 2011 cash bonus award, 2012 target bonus award and long-term incentive grants for the Companys Chief Executive Officer were reviewed and approved by the full Board of Directors of the Company at a meeting held on March 7, 2012.
Name and Title | 2011 Bonus Award | 2012 Base Salary | 2012 Target Bonus (%) | 2012 LTI Grant ($) | ||||||||||||
Jeffrey R. Tarr | ||||||||||||||||
President and Chief Executive Officer | $ | 347,100 | $ | 575,000 | 100 | % | $ | 1,438,000 | ||||||||
Yancey L. Spruill | ||||||||||||||||
Executive Vice President, Chief Financial Officer and Treasurer | $ | 167,100 | $ | 329,600 | 60 | % | $ | 400,000 | ||||||||
H. John Oechsle | ||||||||||||||||
Executive Vice President, Strategy & Product | $ | 148,800 | $ | 290,000 | 60 | % | $ | 250,000 | ||||||||
A. Rafay Khan | ||||||||||||||||
Senior Vice President, Commercial | $ | 119,700 | $ | 285,000 | 50 | % | $ | 345,000 | ||||||||
J. Alison Alfers | ||||||||||||||||
Senior Vice President, General Counsel and Secretary | $ | 128,400 | $ | 290,000 | 50 | % | $ | 175,000 |