Executive compensation

2015 Grants of plan-based awards

2015 Grants of Plan-Based Awards Table

  Estimated Future Payouts
Under Non-Equity Incentive Plan Awards
Estimated Future Payouts Under Equity Incentive Plan Awards(2)  
Name
(a)
Type of Award(1)
Grant Date
(b)
Compensation Committee Approval Date Threshold
($)
(c)
Target
($)
(d)
Maximum
($)
(e)
Threshold
(#)
(f)
Target
(#)
(g)
Maximum
(#)
(h)
All Other Stock Awards: Number of Shares of Stock or Units(3)
(#)
(i)
All Other Option Awards: Number of Securities Underlying Options
(#)
(j)
Exercise or Base Price of Option Awards
($/Sh)
(k)
Closing Price on the NYSE on the Date of Grant
($/Sh)
Grant Date Fair Value of Stock and Option Awards(4)
($)
(l)
V.M. Rometty
AIP N/A 01/27/2015 $0 $5,000,000 $15,000,000       0 0 N/A N/A  
PSU 06/08/2015 01/27/2015       21,045 84,178 126,267         $12,905,329
M.J. Schroeter
AIP N/A 01/27/2015 0 979,000 2,937,000         0 N/A N/A  
PSU 06/08/2015 01/27/2015       7,121 28,482 42,723         4,366,575
RRSU 02/02/2015 12/09/2014              50,315       7,058,691
M.D. Rhodin
AIP N/A 01/27/2015 0 911,000 2,733,000         0 N/A N/A  
PSU 06/08/2015 01/27/2015       7,121 28,482 42,723         4,366,575
RRSU 02/02/2015 12/09/2014              50,315       7,058,691
B.A. van Kralingen
AIP N/A 01/27/2015 0 911,000 2,733,000         0 N/A N/A  
PSU 06/08/2015 01/27/2015       7,121 28,482 42,723         4,366,575
RRSU 02/02/2015 12/09/2014             50,315        7,058,691
J.E. Kelly III
AIP N/A 01/27/2015 0 945,000 2,835,000         0 N/A N/A  
PSU 06/08/2015 01/27/2015       7,912 31,646 47,469         4,851,648
RRSU 12/30/2015 12/15/2015              55,922       7,035,547

(1) Type of Award:
AIP = Annual Incentive Program
PSU = Performance Share Unit
RRSU = Retention Restricted Stock Unit

Each of these awards was granted under IBM’s 1999 Long- Term Performance Plan. See the 2015 Summary Compensation Table Narrative for additional information on these types of awards.

(2) PSU awards will be adjusted based on performance and paid in February 2018.

(3) Mr. Schroeter, Mr. Rhodin and Mrs. van Kralingen were each granted a RRSU award valued at $8 million. Each of these awards vest 50% on February 2, 2017 and 50% on February 2, 2019, provided that in each case, they are employees of IBM as of those dates. Dr. Kelly was granted a RRSU award valued at $8.5 million. This award vests 50% on December 30, 2017, 25% on December 30, 2018 and 25% on December 30, 2019, provided that in each case he is an employee of IBM as of those dates.

(4) The amounts in this column reflect the aggregate grant date fair values of PSU and RRSU awards calculated in accordance with accounting guidance. The values shown for the PSU awards are based on the Target number, as described in the 2015 Summary Compensation Table Narrative. The values shown for the PSUs and RRSUs reflect an adjustment for the exclusion of dividend equivalents.