12 23 2021 Moog Proxy - FY2021 - FINAL - Flipbook - Page 21
Competitive Analysis of Total Direct Compensation
The following table compares the compensation of the Company’s fiscal 2021 NEOs to those of executives in comparable
positions and is aligned to information, amongst other considerations, used by the Executive Compensation Committee when
determining NEO compensation. The analysis is based upon fiscal 2021 base salary, a pro-forma STI value reflective of average
awards over the last five years for the positions listed and fiscal 2021 grant date LTI values. The numbers below are based upon
the foreign exchange rate and estimated STI rolling average at the time the Executive Compensation Committee completed its
review and, unless otherwise indicated, represent thousands of dollars.
Total Cash Compensation(1)
Base Salary
Name & Principal Position
John R. Scannell
Moog
Market
Median
Ratio
Moog
Market
Median
Total Direct Compensation(2)
Ratio
Moog
Market
Median
Ratio
$
1,012 $
1,047
97 % $
1,607 $
2,043
79 % $
3,357 $
5,472
61 %
$
523 $
599
87 % $
783 $
969
81 % $
1,313 $
1,864
70 %
$
500 $
545
92 % $
749 $
782
96 % $
1,059 $
1,170
91 %
$
475 $
545
87 % $
712 $
782
91 % $
1,022 $
1,170
87 %
$
507 $
545
93 % $
760 $
782
97 % $
1,070 $
1,170
91 %
Chief Executive Officer; Chairman of the
Board; and Director
Jennifer Walter
Vice President; Chief Financial Officer
Mark J. Trabert
Vice President; President, Aircraft
Controls
Maureen M. Athoe
Vice President; President, Space and
Defense
Patrick J. Roche
Vice President; President, Industrial
Systems(3)
(1) The Total Cash Compensation ("TCC") column shows the fiscal year base salary plus a pro-forma STI. The STI amount
included in this column equals the rolling five (5) year average STI percentage of base salary applicable to the NEO’s
current position times the fiscal year base salary. The STI amount includes cash and stock that would be paid under the STI
plan for purposes of the executive compensation competitive analysis. The stock portion of any STI bonus is disclosed
within the Stock Awards column of the Summary Compensation Table, reported on page 23.
(2) The Total Direct Compensation ("TDC") column includes the LTI grant date fair market value of SARs, PSUs and TVAs
awarded in fiscal 2021. The overall TDC figure is the TCC plus the LTI amount.
(3) As announced on November 16, 2021, Mr. Roche was promoted from Vice President and President, Industrial Systems to
Executive Vice President and Chief Operating Officer, effective December 1, 2021.
The table above is aligned to the data used by the Executive Compensation Committee of the Board, which relies on the
following considerations:
•
•
•
18
The CEO and CFO market data for base salary, TCC and TDC is a 50/50 mix of Moog’s peer group and data from the
Korn Ferry General Market Executive Compensation Report. For the other NEOs, it is drawn from the Korn Ferry survey
data only. This approach widens the number of companies used for comparative purposes, thereby reducing the impact
that individual changes within the peer group may have.
Where peer group data is used, it has been taken on a like-for-like basis. The CEO and CFO are matched to equivalent
peer company roles. For the Korn Ferry survey, like-for-like data is used with equivalent roles (CEO, CFO, Division
Head). The survey data also uses Korn Ferry proprietary job evaluation system scores as a further means of ensuring
the comparisons are accurate.
Rather than comparing the value of the individual elements of compensation to market, the cumulative position is
shown, so that the competitiveness of each element can be seen as they are combined.