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SUMMARY COMPENSATION TABLE FOR FISCAL YEARS 2012‐2014
Name and Principal Position
Year
Salary
($)
Bonus
($)
Stock
Awards
($)
(1)
Option
Awards
($)
(2)
Non‐
Equity
Incentive
Plan
Compen‐
sation
($)
Change in
Pension
Value and
Non‐
qualified
Deferred
Compen‐
sation
Earnings
($)
(3)
All Other
Compen‐
sation
($)
(4)
Total
($)
Mark J. Gliebe
2014 925,000
0 2,368,846 1,558,954
0 2,261,069 31,846
7,145,715
Chairman and Chief
2013 925,000
0 2,280,680 1,467,807 334,693
941,835 20,591
5,970,606
Executive Officer
2012 898,750
0 1,194,928 2,227,539 775,520 1,547,848 25,154
6,669,738
Charles A. Hinrichs
2014 472,500
0
539,901
355,072
0
154,325 21,254
1,543,052
Vice President and
2013 458,750
0
522,080
336,205 112,167
91,887 21,938
1,543,027
Chief Financial Officer
2012 435,000
0
286,020
559,121 202,893
0 11,015
1,494,049
Jonathan J. Schlemmer
2014 571,250
0
629,818
414,601
0
288,361 19,371
1,923,401
Chief Operating Officer
2013 545,000
0
579,505
372,411 135,083
126,402 17,788
1,776,189
2012 478,000
0
298,732
581,486 272,480
65,899 18,445
1,715,042
Peter C. Underwood
2014 392,500
0
393,263
258,425
0
86,647 13,458
1,144,293
Vice President, General
2013 379,750
0
393,643
252,872 72,969
44,661 13,159
1,157,054
Counsel and Secretary
2012 360,500
0
216,104
402,567 152,589
0 24,310
1,156,070
Terry R. Colvin
2014 342,500
0
201,466
132,364
0
159,886 14,477
850,693
Vice President, Corporate
2013 330,000
0
182,820
117,815 51,948
93,450 14,654
790,687
Human Resources
2012 308,750
0
100,107
183,392 105,638
74,318 16,874
789,079
(1)
Theseamounts reflect the full grant date fair valueof theRSUawards andPSUawards grantedduring the indicated fiscal year, computed inaccordancewithASCTopic
718,
Compensation‐StockCompensation
. In the caseofPSUs, theamounts shownarebasedon theprobableoutcomeof performance conditions,consistentwith the
estimateof aggregatecompensationcost tobe recognizedoverthe serviceperioddeterminedas of thegrant dateunderASCTopic718as follows:Mr. Gliebe—
$789,250;Mr. Hinrichs ‐‐ $180,041;Mr. Schlemmer‐‐$209,350;Mr. Underwood ‐‐ $131,891;andMr. Colvin ‐‐ $66,992. Thevalues of thePSUs atthegrantdate if the
highest levelof performance conditionswere tobeachievedwouldbeas follows:Mr. Gliebe—$1,428,076;Mr. Hinrichs ‐‐ $325,768;Mr. Schlemmer ‐‐$378,800;Mr.
Underwood ‐‐ $238,644;andMr. Colvin ‐‐ $121,216. Pursuant toSEC rules, theamounts shownexclude the impact of estimated forfeitures related toservice‐based
vesting conditions. Theassumptionsmade invaluing the stockawards for2014,2013and2012are includedunder the caption“Shareholders’ Equity” inNote9of the
Notes toConsolidatedFinancial Statements in the2014,2013and2012Annual Reports onForm10‐K,and such information is incorporatedhereinby reference.
(2)
Theseamounts reflect the full grant date fair valueof all optionawardsgrantedduring the indicated fiscalyear, computed inaccordancewithASCTopic718. Pursuant
toSEC rules, theamounts shownexclude the impact ofestimatedforfeitures related toservice‐basedvesting conditions. Theassumptionsmade invaluing the stock
awards for 2014,2013and2012are includedunder thecaption“Shareholders’Equity” inNote9of theNotes toConsolidatedFinancial Statements in the2014,2013
and2012Annual Reports onForm10‐K, and such information is incorporatedhereinby reference.
(3)
Thevalues shownarenot currentcashbenefits, but ratheractuarial calculations of the change in theaccumulatedbenefitobligationsunder theTarget Supplemental
Retirement Plan. Approximately29%of the increase inMr. Gliebe's pensionvalue in2014was the result of a change in thediscount rateused inactuarial assumptions.
Mr. Gliebehas 32yearsof creditedservicewithour companyunder theTarget Supplemental RetirementPlan.
(4)
Theamounts shown includepayments for personalbenefits and for theother items identified in the following sentences. Weprovideamodest levelofpersonal
benefits toNEOs. Thesepersonal benefits in2014 includeduseof a company car and spousal travelon the corporateaircraft in connectionwithbusiness travelby the
NEO. Other items included in this column for 2014 included thepayment of life insurancepremiums and company contributions to theNEOs’ 401(k)planaccounts.