Investor Presentaiton
Multiple Enhancements to Executive Compensation
Aligned with Investor Feedback
■ Have engaged independent compensation consultant and have proactively sought investor feedback
Examples of recent enhancements:
- 2018: Converted annual bonus program to a more formula-based model (includes target metrics for per-unit
financial results and Safety & Environmental improvements)
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2019: Implemented annual compensation benchmark studies via 3rd party compensation consultant
2020: Compensation Committee composed of 100% independent directors
2020: Added TSR Metric to LTI program (considered various returns-based incentive metrics)
- 2020: Added S&P 500 to TSR benchmarking group used in LTI program
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2020: Increased multi-year accountability (3-yr cumulative) to DCF / CUE() metric in LTI program
2020: Added Leverage Modifier to DCF/CUE metric in LTI program - aligns w/ company deleveraging goals
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(1) See Definitions.
2020: Adopted Clawback Policy and Equity Ownership Guidelines
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