September 2014
Dear Manager,
As you may know, the Compensation Committee reviews WD’s long-term incentive (LTI) program on an annual basis. Based on market data, the committee opted to change the vesting schedule (for WD Senior Directors and above) for Restricted Stock Unit (RSU) awards as follows:
2014 RSU grants for senior director and above:
33% of the award will vest at the one-year anniversary date that the award was issued
33% will vest at the two-year anniversary date
33% will vest at the three-year anniversary date
Note: the 2013 RSU grant for senior director and above vested 50% on the 2nd anniversary and 50% on the 3rd anniversary of the grant.
The revised vesting will apply to future Annual LTI RSU grants unless otherwise determined by the Compensation Committee. The enhancement provides recipients with the opportunity to realize the value of the LTI award in a shorter time horizon.
This is a positive change to enhance the pay-for-performance philosophy at WD, and fits with WD’s “people strategy” of retaining, motivating and rewarding great contributors.
Should you or your direct reports have any questions, please refer them to your HR Business Partner for help.
Thank you in advance for your support!
Regards,
Jackie DeMaria
SVP, Global HR
WDC
September 2014
Dear Manager,
As you may know, the Compensation Committee reviews WD’s long-term incentive (LTI) program on an annual basis. Based on market data, the committee opted to change the vesting schedule (for WD Senior Directors and above) for Restricted Stock Unit (RSU) awards as follows:
2014 RSU grants for senior director and above:
33% of the award will vest at the one-year anniversary date that the award was issued
33% will vest at the two-year anniversary date
33% will vest at the three-year anniversary date
Note: the 2013 RSU grant for senior director and above vested 50% on the 2nd anniversary and 50% on the 3rd anniversary of the grant.
The revised vesting will apply to future Annual LTI RSU grants unless otherwise determined by the Compensation Committee. The enhancement provides recipients with the opportunity to realize the value of the LTI award in a shorter time horizon.
This is a positive change to enhance the pay-for-performance philosophy at WD, and fits with WD’s “people strategy” of retaining, motivating and rewarding great contributors.
Should you or your direct reports have any questions, please refer them to your HR Business Partner for help.
Thank you in advance for your support!
Regards,
Jackie DeMaria
SVP, Global HR
WDC
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