Proxy Statements That Mention ERI Data
We reviewed compensation survey results from the Economic Research Institute (ERI) Survey for metal fabrication companies, both in the Midwest and nationwide...
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The 2006 survey sources included the Economic Research Institute - Executive Compensation Assessor, proxy statement data for publicly traded commercial banks and thrifts located in Pennsylvania, Maryland, Delaware and New Jersey ranging in asset size between $2 billion and $12 billion
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For the fiscal year ended January 31, 2007, compensation indices from the ECS Industry Report on Top Management Compensation, which was prepared by Watson Wyatt Data Services, and the Salary Assessor, which was prepared by Economic Research Institute, were used in the Committee's analysis.
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The Company's professional employer organization, The Castleton Group, retained ERI Economic Research Institute ('ERI') to perform a compensation benchmarking study for fiscal year 2006. ERI surveyed market compensation data from a peer group of companies, and evaluated the compensation levels of our named executive officers compared to named executive officers of the peer group companies. Based on the survey, the Company's Board of Directors' HR&C Committee determined that base salaries and incentive compensation amounts were at, or below, current median rates of compensation for our peer group. The study results are being utilized in establishing recommended compensation levels for the Company's named executive officers for fiscal year 2007 with a general objective of maintaining the base salary component of our executive compensation at or below the median levels of our peer group within the overall framework of the HR&C Committee's philosophy and objectives.
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Published survey compensation data from the following sources was utilized: William Mercer, Watson Wyatt, World at Work, and the Economic Research Institute.
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In connection with the hiring of Mr. White in June 2006, in order to ensure that his compensation was properly benchmarked, the Compensation Committee reviewed survey data from the Economic Research Institute which provides geographic-specific survey data derived from 14,000 U.S. publicly-traded corporations' proxy statements, annual and other reports filed with the SEC (1994 to present), loan and employment applicant earnings verifications and digitized public records.
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The salary surveys utilized detail compensation for positions within the labor markets in which we hire our executive staff. Published survey sources utilized in the analyses included: Economic Research Institute (ERI)-Consultant's Compensation Assessor-a compensation database that combines over 1,500 published survey resources...
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Our consultant reviewed national compensation surveys from the following sources: America's Community Bankers Compensation Survey; BAI Bank Cash Compensation Survey; BAI Key Executive Compensation Survey; Crowe Chizek - Comprehensive Financial Institutions Compensation Survey; and Economic Research Institute - Executive Compensation Assessor.
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In addition, management periodically obtains survey data of comparably situated companies from Economic Research Institute ('ERI') to guide it in its compensation recommendations. The specific parameters we define for ERI are job description, company revenue size, company SIC code and geographic location. Based upon these inputs, ERI supplies base salaries, incentive and total compensation information for comparable job descriptions. Where comparable job descriptions do not exist, further analysis is necessary to determine appropriate comparable compensation parameters. Thus, because it is our policy to have both an executive Chairman and a President and Chief Executive Officer, the starting point for our consideration of the compensation for these two positions is determined by combining the ERI data for the position of 'Outside Chairman' and the position of 'President and Chief Executive Officer' and adjusting for the additional activities and responsibilities of our Chairman.
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In its review of officer base salaries, AGF utilized two separate sets of comparative market data on total compensation pay. The first set of data was a proprietary research database developed by Economic Research Institute ('ERI') which reflected pay practices of more than 20,000 businesses. The ERI data was screened to provide comparable data for the equivalent eight officer positions at comparable sized (based on revenues) specialty food manufacturing companies.
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In performing their study, AGF analyzed a peer group of twenty-three publicly-held companies, as well as industry specific data from the 2006 Compensation and Entrepreneurship Report in Life Sciences (a survey of 170 private companies in the life sciences, including approximately 80 medical device companies) and general compensation data from the Economic Research Institute.
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Economic Research Institute compensation data base by location, industry and size. America's Community Bankers 32nd Annual Compensation Survey. Data was compiled using banks with assets over $1 billion by region.
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The outside consultant blends several data categories from these sources to reflect our asset size and geographical region. The consultant also adjusts the data for geographical pay differentials, using data from the Economic Research Institute, to adjust for salary ranges in the Western New York area. The data, which is based upon actual salaries for the previous year, is further adjusted by an estimated percentage for salary increases within the industry.
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The Corporation also refers to compensation survey data from the below listed resources to ensure that its total senior executive compensation program is competitive: Economic Research Institute...
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The surveys were national surveys published by Mercer Human Resource Consulting, Watson Wyatt Data Services and Economic Research Institute.
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The Compensation Committee, with the assistance of Milliman, benchmarks the compensation levels of the Named Executive Officers versus compensation levels of comparable job functions and responsibilities across such companies. Milliman independently determines the methodology of its compensation surveys and the companies included in its surveys. In this benchmarking, the compensation of the Named Executive Officers was compared against compensation information published by the Economic Research Institute ('ERI')...
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Selected peer organizations consisted of: AEP Industries, Inc., Anchor Glass Container, Caraustar Industries, Inc., Chesapeake Corporation, CLARCOR Inc., Constar International, Inc., Greif, Inc., Kimball International, Inc., OMNOVA Solutions, Inc., P.H. Glatfelter Company, Plum Creek Timber Company, Inc., Pope & Talbot, Inc., Potlatch Corporation, Rayonier, Inc., Rock-Tenn Company, Spartech Corporation and Wausau-Mosinee Paper. Published salary surveys consisted of the Printing Industry of the Carolinas, Inc. (PICA) Wage & Benefits Compilation Report, the Economic Research Institute: Executive Assessor, the Mercer Executive Compensation Survey, the Stanton Group Forest Products Industry Compensation Association (FPICA) and the Watson Wyatt Top Management Compensation Report.
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For 2006 compensation, survey sources included the 2006 Economic Research Institute Executive Compensation Assessor; 2006/2007 Watson Wyatt Top Management and Middle Management Compensation Calculator; and the 2006 William H. Mercer Executive Compensation Survey. The survey data is regressed to reflect Belden's revenue size.
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Under its charter, the Compensation Committee has authority to retain compensation consultants, outside counsel, and other advisors that the Committee deems appropriate, in its sole discretion, to assist it in discharging its duties, and to approve the terms of retention and fees to be paid to such consultants. The Compensation Committee engaged Cook to assist the Committee in establishing the compensation structure for our NEOs for 2006 and 2007. Our company also retains Economic Research Institute, Mercer Consultants, and Watson Wyatt to advise us with respect to our compensation programs for executives and members of our management team, other than the NEOs.
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Survey data from various sources also are utilized, including ERI Executive Compensation Assessor 2006 (Economic Research Institute)...
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This data details relevant market rates for executive salaries based on independent salary surveys that have been selected for benchmarks and verified by the surveying body through payroll records. The sources for this data include: Organization Resource Counselors Executive Compensation Survey, Top Five Medic Benchmark Compensation Survey, Economic Research Institute Executive Compensation Assessor, and the Florida Comp Data Survey. Criteria used to select the surveys used for benchmarking remain consistent from year-to-year and the surveys have remained constant for three years; however, the companies participating in the surveys may vary depending upon changes in subscribing companies.
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The Company uses the services of The Whitney Smith Company to conduct reviews of compensation approaches and levels for relationship managers, key management and the named executives. The study was directed to cover competitive base salaries, annual bonuses, and total annual cash compensation. The survey information provided by The Whitney Smith Company uses survey information compiled from information from recognized sources including the Economic Research Institute, Watson Wyatt, Mercer, Delves Group, and World at Work. In addition to the published survey information, publicly available information from a selected peer group was considered.
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The annual base salary for each executive officer (including the NEOs) generally is increased on the anniversary of his or her start date. In 2005, the compensation committee asked Hewitt Associates to study the overall compensation levels, including base salary, of the CEO and two other senior management employees. With respect to other senior management employees and other management employees, the Company uses the results of an annual study by the Economic Research Institute and sets annual base salaries at plus or minus 25% of the midpoint, depending on an assessment of the individual's sustained performance and the location of his or her position.
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Data for this analysis was drawn from the following sources: (i) Mercer Consulting Benchmarking Database - Executive Compensation Report, (ii) Watson Wyatt Data Services: ECS Survey Report on Top Management Compensation, (iii) Economic Research Institute: Salary Assessor, and (iv) Aon Consulting - Executive Compensation.
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Overall compensation of each executive officer is evaluated against that of similarly situated executives in the peer group, considering the overall scope of the executive's individual and geographic responsibilities. This evaluation is conducted using a software database from the Economic Research Institute, which inputs a variety of surveys, proxy information and other sources outlining the market for various positions (including CEO, CFO, and Chief Legal Counsel) within the industry within specific geographic and revenue parameters. In making compensation determinations for executive officers, the Committee also considers recommendations of the Chief Executive Officer (other than with respect to his own compensation). Individual compensation of our executive officers is comprised of three elements: base salary, cash bonus and stock options.
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The Company utilizes various independent survey sources when performing their review. The predominant survey utilized in 2006 was the Salary Assessor Series published electronically by the Economic Research Institute. The Salary Assessor Series includes the Executive Compensation Assessor, which allows data segmentation by industry classification and annual revenues.
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Lawrence Associates utilizes compensation and specific salary survey data provided by the Economic Research Institute ('ERI'), a recognized leader in survey analyses and web-based collection of compensation survey data. The ERI database consists of both proxy information and a compilation of compensation data obtained from numerous sources, including subscriber provided data and purchased surveys. While the information gathered from proxies can be attributed to specific companies, individual organizations that otherwise participate in the database compilation cannot be specifically identified. Lawrence Associates uses ERI data for organizations with an SIC code of 6100 ('Finance, Insurance, and Real Estate - Nondepository institutions'). Using regression analysis, the ERI software database enables Lawrence Associates to statistically approximate the competitive market survey data for the requested executive positions at the desired asset size level.
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The consultant's report found that the compensation for the Chairman, the President and the Treasurer, based upon survey sources ranging from the Economic Research Institute to data for a peer group of 12 real estate operator and lessor companies1, was below the 50% median of base salary. At the date of the report, as compared to total compensation at peer companies, the compensation for two of the three executives was below the 25th percentile and for one executive slightly above the 25th percentile. Based upon the report, our overall compensation philosophy, our evaluation of the Chief Executive's performance and the Chief Executive's evaluation of the performance of the President and the Treasurer, we adjusted the base salaries of the Chairman, the President and the Treasurer to the 50th percentile of the base compensation of the peer companies.
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They conducted a study to assist us in developing an overall compensation plan for our work force and developing formalized policies with respect to the determination of the compensation philosophy, structures, salary ranges and the various elements of total compensation. Aon utilized various sources of compensation reports and surveys including Radford Benchmark Compensation Report, ECS/Watson Wyatt Salary Surveys, Economic Research Institute Salary Surveys, Mercer Compensation Reports and Towers Perrin Surveys. Aon used data from these sources to benchmark the various compensation elements for existing and proposed executive and technical positions against biotechnology and pharmaceutical companies of comparable size. Data from twenty to several hundred companies were utilized depending upon the particular position being evaluated.
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The consultants used the 2006/2007 Industry Report on Top Management Compensation by Watson Wyatt and the 2006 Executive Compensation Assessor by Economic Research Institute and its market analysis of our executive compensation. All elements of executive compensation were compared to market data from food and kindred products industries data.
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Overall, the total compensation opportunity is intended to create an executive compensation program that is fair, reasonable and competitive when compared to the median compensation levels of comparable limited service restaurant companies. In setting compensation, the Company informally considers competitive market practices derived from various sources, such as recruiting firms, SEC filings of comparable companies and data available from the Economic Research Institute, which provides a database of executive compensation statistics regarding other limited service restaurant companies of comparable size and revenue and similar geographic location. Generally, we believe that executive salaries should be targeted near the median of the range of salaries for executives in similar positions and with similar responsibilities at comparable companies but we do not engage in a formal benchmarking process.
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CRI utilized the most recent published surveys in our in-house library, as follows, to obtain specific market data for this position ... 2. Executive Compensation Assessor, Economic Research Institute.
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