Summary
This 8-K filing from American Tower Corporation (AMT) details the Compensation Committee's decisions regarding the 2019 compensation for its Named Executive Officers. The filing specifies the base salaries and target cash bonus incentives for the CEO, CFO, and three other top executives. This information provides insight into the company's executive compensation structure for the upcoming fiscal year, aligning with strategic financial and individual performance goals.
Key Highlights
- 1Executive compensation for 2019 has been set for the CEO, CFO, and three other highly compensated officers.
- 2The CEO, James D. Taiclet, Jr., has a 2019 base salary of $1,100,000 with a target cash bonus of 150% of base salary ($1,650,000).
- 3The CFO, Thomas A. Bartlett, has a 2019 base salary of $789,495 with a target cash bonus of 100% of base salary ($789,495).
- 4The Compensation Committee bases annual cash bonus payments on the company's achievement of pre-established financial and individual goals.
- 5Potential annual cash bonus incentives can be increased by the Compensation Committee, up to a maximum of 200% of the executive's target bonus if goals are exceeded.
- 6William H. Hess's compensation reflects his part-time status and intention to retire in 2019, following his stepping down from international operations leadership in late 2018.
Frequently Asked Questions
The main purpose of this 8-K filing is to disclose the Compensation Committee's decisions regarding the 2019 base salaries and target cash bonus incentives for American Tower Corporation's Named Executive Officers. This provides transparency on how key leadership compensation is structured for the year.
Annual cash bonus payments are determined based on the company's achievement of pre-established financial goals and the individual achievement of goals aligned with the company's strategy. The Compensation Committee reviews these factors when making bonus determinations.
Yes, the Compensation Committee can increase the annual cash bonus incentive beyond the target amount if the company or individual goals are exceeded. However, this increase is capped at a maximum of 200% of the executive's target bonus.
The information regarding William H. Hess indicates a transition in his role. He stepped down from a key international leadership position in late 2018 and is expected to retire from his current role in 2019. His compensation reflects this part-time status and impending retirement.