Hertz Executive Pay Released in SEC Filing

In an April 5 SEC Filing, Hertz Global Holdings Inc. released its top executives’ total pay. The total includes all compensation such as stock awards and incentive plan compensation (see table below - click to enlarge).

The filing highlighted that at the company’s 2011 Annual Meeting, 91% of stockholders approved the compensation paid to the executive officers in the advisory vote on executive compensation.

(1) The value for each of the years in this table reflects the full grant date fair value, and with respect to the performance stock units, assumes that all performance conditions will be achieved at the target level.

(2) Amounts with respect to 2011 reflect non-equity incentive plan compensation (EIPC) awards earned in 2011 for the 2011 performance year that were paid in February 2012. EICP awards are designed to reward the named executive officers for three performance factors: overall corporate financial performance, business unit strategic performance and individual performance. EICP awards are intended to align Hertz executives' interests with those of its stockholders and to reinforce its key strategic initiatives, while taking into account individual performance.

(3) Amounts include annual changes in the actuarial present value of accumulated pension benefits. The present value was determined using the same assumptions applicable for valuing pension benefits for purposes of Hertz’s financial statements. No named executive officer received preferential or above-market earnings on deferred compensation.

(4) All other compensation includes use of the personal aircraft, car and driver, financial planning assistance, club memberships, housing, 401(k) company matches and other items. Click here for a table of all other compensations. 

(5) Data not reported for 2009 as Mr. Sider became a named executive officer in 2010. 

(6) Amounts for Mr. Taride have been translated from pounds sterling to U.S. dollars at the 12-month average rate of 1.604068 for 2011, 1.54214 for 2010 and 1.559041 for 2009.

(7) Data not reported for 2009 and 2010 as Mr. Senackerib became a named executive officer in 2011.