Executive compensation

2016 Grants of plan-based awards

2016 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 01/26/2016 $0 $5,000,000 $15,000,000                
PSU 06/08/2016 01/26/2016       14,905 59,621 89,432         $8,334,420
RSU 06/08/2016 01/26/2016              32,104       4,487,818
SO 01/26/2016 01/26/2016                375,000  $129.08  $122.59 3,795,000
SO 01/26/2016 01/26/2016                375,000  135.22  122.59 3,292,500
SO 01/26/2016 01/26/2016                375,000  141.37 122.59 2,857,500
SO 01/26/2016 01/26/2016                375,000 153.66 122.59 2,148,750
M.J. Schroeter
AIP N/A 01/26/2016 0 1,057,000 3,171,000                
PSU 06/08/2016 01/26/2016       5,604 22,414 33,621         3,133,253
RSU 06/08/2016 01/26/2016              12,069       1,687,126
M. Jetter
AIP N/A 01/26/2016 0 911,000 2,733,000                
PSU 06/08/2016 01/26/2016       5,043 20,173 30,260         2,819,984
RSU 06/08/2016 01/26/2016             10,863       1,518,539
J.E. Kelly III
AIP N/A 01/26/2016 0 1,091,000 3,273,000                
PSU 06/08/2016 01/26/2016       6,164 24,656 36,984         3,446,662
RSU 06/08/2016 01/26/2016             13,276       1,855,852
E. Clementi
AIP N/A 01/26/2016 0 988,000 2,964,000                
PSU 06/08/2016 01/26/2016       6,164 24,656 36,984         3,446,662
RSU 06/08/2016 01/26/2016             13,276       1,855,852

(1) Type of Award:
AIP = Annual Incentive Program
PSU = Performance Share Unit
RSU = Restricted Stock Unit
SO = Stock Option

Each of these awards was granted under IBM’s 1999 Long-Term Performance Plan. See the 2016 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 2019.

(3) RSU awards vest 25% on June 8, 2017, June 8, 2018, June 8, 2019, and June 8, 2020, provided that in each case, the named executive officer is an employee of IBM as of those dates.

(4) The amounts in this column reflect the aggregate grant date fair values of Stock Options, PSU and RSU awards calculated in accordance with accounting guidance. The values shown for the PSU awards are based on the Target number, as described in the 2016 Summary Compensation Table Narrative. The values shown for the PSUs and RSUs reflect an adjustment for the exclusion of dividend equivalents. The values shown for the premium-priced stock options are the dollar amounts recognized for financial statement reporting purposes in accordance with ASC 718 for equity award expense (excluding any risk of forfeiture, per SEC regulations).