The median employee was identified from all full-time and part-time employees (including
seasonal and temporary employees), excluding the CEO, who were employed by the company and its consolidated subsidiaries on October 1, 2017, subject to the exception described below. We selected October 1, 2017, which is within the last
three months of 2017, as the date upon which we would identify the median employee to allow sufficient time to identify the median employee given the global scope of our operations.
In reliance on the de minimis exemption under the rule, we excluded
non-U.S.
employees in certain
jurisdictions who in the aggregate comprised less than 5% of our total employees. Our total number of U.S. employees is 5,889 and our total number of
non-U.S.
employees is 2,657. In identifying our median
employee, we included all 5,889 U.S. employees and 2,237 of our
non-U.S.
employees.
The
jurisdictions from which employees were excluded under the de minimis exemption (and, in parentheses, the number of employees excluded from each such jurisdiction) are as follows: China (32), Panama (27), Costa Rica (26), Chile (23), Italy (22),
France (21), Switzerland (20), Germany (19), Ireland (19), India (17), Jamaica (17), Saudi Arabia (17), Netherlands (16), Sweden (16), Turkey (14), Poland (13), Hong Kong (12), Trinidad and Tobago (10), Barbados (9), Malaysia (9), Japan (8), Russian
Federation (8), Philippines (7), Portugal (7), Morocco (5), Austria (4), Guatemala (4), Norway (4), Taiwan (4), Uruguay (3), Indonesia (2), New Zealand (2), Czech Republic (1), Denmark (1) and Ecuador (1).
The median employee compensation was determined using total cash compensation, consisting of base salary, overtime pay and cash bonus.
Compensation was measured over the
12-month
period beginning on October 1, 2016 and ending on September 30, 2017. We do not broadly provide equity compensation to our employees, so excluding equity
did not affect the median employee identification. Wages were annualized for our employees who did not work the entire calendar year. For our
non-U.S.
employees, we applied a local currency to U.S. dollar
exchange rate to the compensation elements paid in such currency, consistent with the rates used in our 2017 budget, but did not apply a cost of living adjustment.
Mr. Eck had 2017 annual total compensation of $6,204,421 as reflected in the Summary Compensation Table included in this Proxy Statement.
The median employees annual total compensation for 2017 that would be reportable in the Summary Compensation Table was $57,502. As a result, the CEO pay ratio is 108:1.
NON-EMPLOYEE
DIRECTOR COMPENSATION
(1)
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Name
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Fees Earned or
Paid in Cash
($)
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Stock Unit
Awards ($)
(2)
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Total ($)
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Lord James Blyth
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0
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245,167
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245,167
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Frederic F. Brace
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0
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245,167
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245,167
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Linda Walker Bynoe
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0
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252,681
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252,681
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Robert W. Grubbs
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0
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215,189
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215,189
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F. Philip Handy
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75,000
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150,141
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225,141
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Melvyn N. Klein
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95,000
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170,097
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265,097
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George Muñoz
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0
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215,189
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215,189
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Scott R. Peppet
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0
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215,189
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215,189
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Valarie L. Sheppard
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30,000
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215,167
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245,167
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Stuart M. Sloan
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0
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215,189
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215,189
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Samuel Zell
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0
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390,138
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390,138
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(1)
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Directors who are employees of the company are not compensated for their Board service. Compensation of the
directors included (i) an annual retainer of $215,000 ($390,000 for the Chairman), (ii) an annual retainer for each committee chair ($10,000 for the chair of the Compensation Committee, $7,500 for the chair of the
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