Compensation Discussion and Analysis
(1) The market value is the product of $55.71, the closing price of our common shares on the NYSE on January 28,
2022, and the number of shares subject to unvested stock.
(2) Based on current performance in accordance with the SEC rules, PSUs assume payout at the target payout
level.
(3) Options vest on March 31, 2022.
(4) Options vest 50% on
March 21, 2022 and 50% on March 21, 2023.
(5) Options vest on March 28, 2022.
(6) Reflects RSUs that vest as follows: 8,791 shares on March 21, 2022; 99,071 shares on March 28, 2022; 20,948 shares on March 31, 2022; 13,030 shares on
April 25, 2022; 8,790 shares on March 21, 2023; 13,031 shares on April 25, 2023; and 42,110 shares on December 11, 2023.
(7) Subject to
achievement of performance conditions, shares vest on February 5, 2024.
(8) Reflects RSUs that vest as follows: 10,991 shares on June 2, 2022; 10,991
shares on June 2, 2023; and 14,655 shares on June 2, 2024.
(9) Options vest 50% on March 16, 2023 and 50% on March 16, 2024.
(10) Reflects RSUs that vest as follows: 10,516 shares on March 28, 2022; 16,372 shares on March 31, 2022; 8,495 shares on March 16, 2023 and 8,495 shares
on March 16, 2024.
(11) Reflects RSUs that vest as follows: 96,465 shares on March 28, 2022; 14,017 shares on March 31, 2022; 9,945 shares on
March 16, 2023; and 9,945 shares on March 16, 2024.
(12) Reflects RSUs that vest as follows: 16,632 on March 21, 2022; 88,643 on March 28, 2022;
12,528 on March 31, 2022; 7,043 on April 25, 2022; 9,118 on March 16, 2023; 16,632 on March 21, 2023; 7,043 on April 25, 2023; and 9,115 on March 16, 2024.
Exercises and Stock Vested Information for Fiscal 2021
The table below shows
stock options that were exercised and RSUs that vested during fiscal 2021 for each of our named executives.
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Option Awards |
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Stock Awards |
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Name |
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Number of Shares Acquired on Exercise (#) |
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Value Realized on Exercise ($) |
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Number of Shares Acquired on Vesting (#)(1) |
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Value Realized on Vesting ($) |
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Martin Waters |
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6,149 |
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186,456 |
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30,712 |
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2,067,225 |
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Timothy Johnson |
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0 |
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0 |
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0 |
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0 |
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Dein Boyle(2) |
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15,204 |
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320,396 |
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45,445 |
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2,820,189 |
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Amy Hauk(2) |
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16,553 |
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555,525 |
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104,470 |
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5,943,996 |
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Gregory
Unis(2) |
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0 |
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0 |
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17,002 |
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1,058,520 |
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(1) This column represents the vesting during fiscal 2021 of RSUs granted during fiscal 2016, 2017, 2018 and 2019.
(2) As described earlier, awards granted for Ms. Hauk, Mssrs Unis and Boyle, while executives at L Brands, took the form of time vested RSUs and options and were not
tied to specific financial metrics. Such awards were consistent with other executives at their level under the L Brands structure. Their first grant from VS&Co in fiscal 2022 will include PSUs and RSUs as described earlier in the Long-Term
Incentive Compensation Section of this CD&A.
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VS&Co | 2022 Proxy
Statement |
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55 |