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SEC Filings

DEF 14C
APOLLO EDUCATION GROUP INC filed this Form DEF 14C on 12/27/2013
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(16)
Represents (i) a matching contribution in the amount of $5,250 made by the Company to the named executive officer’s account under the Company’s Employee Savings and Investment Plan and (ii) an $887 Company contribution to the Company’s Deferred Compensation Plan for the named executive officer.
(17)
Calculated based on an annual rate of base salary of $435,000 for the period September 20, 2010 to August 31, 2011.
(18)
Represents a sign-on bonus paid to Mr. Martin during fiscal year 2011.
(19)
Calculated based on an annual rate of base salary of $100,000 for the period September 1, 2012 to December 31, 2012, and $700,000 for the period January 1, 2013 to August 31, 2013.
(20)
The threshold, target and maximum levels of attainment for the performance goals under the Executive Officer Performance Incentive Plan for Mr. Sperling were increased by the Compensation Committee on December 12, 2012 to reflect his new base salary for his position as Chairman of the Board, effective December 31, 2012.
(21)
Represents (i) a matching contribution in the amount of $9,098 made by the Company to the named executive officer’s account under the Company’s Employee Savings and Investment Plan, (ii) an $887 Company contribution to the Company’s Deferred Compensation Plan for the named executive officer, (iii) $2,999 in insurance costs allocated to Mr. Sperling’s personal use of vehicles owned by the Company, (iv) $9,187 in fuel and maintenance costs allocated to Mr. Sperling’s personal use of vehicles owned by the Company, and (v) $326 relating to personal liability insurance covering Mr. Sperling.
(22)
Calculated based on an annual rate of base salary of $390,000 for the period September 1, 2012 to December 31, 2012, and $420,000 for the period January 1, 2013 to August 31, 2013.
(23)
The threshold, target and maximum levels of attainment for the performance goals under the Executive Officer Performance Incentive Plan for Ms. Bishop were increased by the Compensation Committee on December 12, 2012 to reflect her new base salary for her position as Vice Chair of the Board, effective December 31, 2012.
(24)
Represents a matching contribution by the Company to the named executive officer’s account under the Company’s Employee Savings and Investment Plan.
(25)
Calculated based on an annual rate of base salary of $850,000 for the period September 1, 2012 to December 31, 2012, plus payment of accrued vacation in the amount of $30,159.
(26)
Represents a one-time special retirement bonus of $5,000,000 paid to Dr. Sperling in recognition of his many years of service with the Company and the important contributions he has made as leader and visionary.
(27)
Represents (i) $566,667 in total monthly installments of Dr. Sperling’s lifetime annuity of $850,000 paid during fiscal year 2013 pursuant to his deferred compensation agreement with the Company dated December 31, 1993 , (ii) $1,425 in insurance costs allocated to Dr. Sperling’s personal use of vehicles owned by the Company prior to Dr. Sperling’s retirement, (iii) $3,155 relating to reimbursement of personal transportation costs during the 2013 fiscal year, (iv) $19,266 representing the fair market value of the two company-owned vehicles transferred to Dr. Sperling as part of his post-retirement benefit package, and (v) $5,745 in reimbursement of out-of-pocket costs incurred for continued medical and dental care coverage under the Company’s self-insured employee group health plan, in accordance with Dr. Sperling’s post-retirement benefit package. Additionally, the Company provides office space and related services to Ms. Darby E. Shupp (a member of the Company’s Board of Directors) in her capacity as an executive employee of one of Dr. Sperling’s companies; and Dr. Sperling’s administrative assistant for Company matters, who is employed by the Company, also provides assistance with his personal matters. However, the Company does not believe that any incremental costs have been incurred in connection with these items and accordingly no additional amount is reflected for such perquisites in column (i) for any of the 2013, 2012 and 2011 fiscal years.
(28)
Represents the first installment of the March 2013 cash retention award that is scheduled to vest on March 29, 2014. Such first installment was paid in advance to recipients of this award, including Mr. D’Amico, during the 2013 fiscal year. In accordance with the terms of the award agreement, this installment vested when Mr. D’Amico’s employment terminated.
(29)
Represents (i) $2,640,761 in cash severance payable to Mr. D’Amico in connection with his termination on August 30, 2013, (ii) the unvested portion of the November 2012 and March 2013 cash retention bonuses not previously paid to Mr. D’Amico in the amounts of $250,000 and $200,000, respectively, which vested in full upon Mr. D’Amico’s termination, (iii) a matching contribution in the amount of $5,250 made by the Company to his account under the Company’s Employee Savings and Investment Plan, (iv) an $887 Company contribution to the Company’s Deferred Compensation Plan for the named executive officer, (v) $22,201 relating to the reimbursement of personal transportation costs, (vi) $4,147 relating to travel and meal expenses for the attendance of Mr. D’Amico’s spouse and guests at Company events, (vii) $326 relating to personal liability insurance covering Mr. D’Amico, and (viii) $30,000 reimbursement of duplicative living costs incurred by Mr. D’Amico in his secondary business location. In addition, Mr. D’Amico received for personal use tickets to certain sporting and entertainment events for which the Company incurred no incremental costs under the Stadium Agreement or the various corporate sponsorship agreements.

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