top mgt bonuses

Discussion in 'UPS Partners' started by 25yrvet, Jan 15, 2006.

  1. 25yrvet

    25yrvet New Member

    Has anyone else heard of top ups mgt giving themselves large bonuses in the coming months?:mellow:
     
  2. Brownretiree

    Brownretiree Guest

    UPS 2006 Long-Term Incentive Performance Awards

    If you ever wonder why management is so intense about "making the numbers", the performance awards could be a big part of it. In a SEC filing, Jan. 13, 2006, the company described the awards:
    "Under the Plan, restricted stock units ("RSUs") representing shares of class A common stock will be awarded to executive officers, officers and certain other eligible managers pursuant to a RSU award agreement. Target RSU award grants will range in size from 50%-250% of annual salary."

    Taken from http://www.homestead.com/PUPSInc/Harassment.html

    Performance awards that start at 50% of annual salary????
     
  3. speeddemon

    speeddemon Guest

    How pathetic
     
  4. wornoutupser

    wornoutupser Active Member

    I say that we put them on a car and let them deliver for a week under PAS. Since anyone should be able to run scratch, we give the the bonus ONLY if they run under every day under their own standards!
     
  5. wily_old_vet

    wily_old_vet New Member

    I'd come back out of retirement to watch that fiasco. ROFLMAO:lol:
     
  6. tieguy

    tieguy Banned

    I hate to ruin your hate trip but the numbers you state above are way over stated. The RSU's sit in an account where they are not distributed for up to 5 years. They may if UPS has a good year end up equaling approximately 10 percent of a managers salary.
     
  7. 25yrvet

    25yrvet New Member

    Tie...
    Could you please explain the disparity in %. You say 10, others say 50-250. :confused:1
     
  8. Brownretiree

    Brownretiree Guest

    Not my numbers... UPS's SEC (Security and Exchange Commision) Filing.

    Best not to be lying to the SEC.

    "The RSU awards that vest will be paid in the form of UPS class A shares on March 13, 2009 (or earlier in the event of death). " That's 3 years on my calendar.
     
  9. tieguy

    tieguy Banned

    After taking a second look it appears to be a filing for stock options for upper leverl executive management. The right to buy stock options is awarded this year. The divison or higher manager can not actually buy the stock award until 5 years from now at todays price. If the stock were to take off and increase significantly in price in 5 years then it could be a nice award if it follows the same pattern it has since going public then it would not be that great a deal. If the divison manager or higher keeps his position for 5 years then he picks up the RSU's in 5 years. He then either buys the stock outright in 5 years or sells some of his current stock to pay for the purchase in 5 years. Its a gross number the filing shows. The net result after this paper transaction would be a lot less but still a nice chunk of change. The RSU system reported in the filing is actually a lot less now then what those type of managers got in the old days. Its a great system if the stock shows appreciable growth each year. But not as good if it shows modest growth. I'm very skeptical about any manager even the upper level actually netting what is listed in the filing.