LTI

I looked at the “new” total reward program with regard to incentives and LTI. I didn’t see anything new, but now I’m curious how often LTI is given out by our DM’s. I personally received LTI for being in COE. Outside of COE I haven’t received any during my five year tenure. I know of a rep who has gotten some outside COE but I thought it was a special circumstance. How often should we be getting LTI with good performance? I feel sorry for the new hires that were baited with LTI as being a reason to join the company.

 

COE does not guarantee LTI. Neither does a 5 rating. It’s totally at the discretion of the CBD. Ass kissers get the most, you know it’s all based on “behaviors “ and those are subjective.

 

im curious to see the differences, I.E. what choices ,if any, we have to make, esp for those with 10+ years at the company.
I don't care about LTI, if given the choice of that vs continuing to fund some retirement above 401k match.
Why? You have to wait for LTI for 3 years I think. What if you were laid off or fired, with worthless LTI that you couldn't cash out, because you weren't vested.
I'll stick with the "age plus years of service" extra put into 401k. That's immediately in the account, so can grow.
LTI is tied to stock price....which is basically stagnant for the most part. Look what's happened since the Phizer offer.

 

If you’re laid off your LTI stock is paid out to you at full value

 

Clarification: Only if they are completely vested. If not it will be a percentage. Example: If you got 90 shares last year and you are laid off this year, you will get a third of the total. If laid off next year, 2/3rds.

 

I have gotten LTI maybe 5 times in the last 10 yrs and it was all based on performance except for 1 yr when there was a special circumstance. I don't think behaviors enter into the equation.
They don't seem to care about behaviors anymore anyway!

 

Wrong. Behaviors are used like a weapon in my region. So far 3 have been fired using that technique. Good for you that they are a non-issue in your region.

 

so is there a yearly LTI budget for each district?

 

Wow your manager and CBD love you. 5 times in 10 years? Amazing

 

Looking forward to comments, and advice, on this LTI rewards thing today, in non corporate terms, to help normal person like me understand what's going on and what the better choices are. HELP!

 

yeah, I'm wondering too
Anyone out there with answers? Seems like the ole' cafepharma just isn't used that much anymore. I've noticed it's so quiet now.

 

It seems that people who get a 4 or a 5 in their year end review get LTI or people who are in a special circumstance..usually strong performer who has a managed care loss, etc. There is some discretion, but that's what I've seen and experienced.

 

So the amount employees "eligible" for LTI increases to 100%. And the amount increases to 7%. However what's not mentioned in materials is that this LTI amount is still at manager discretion based on "performance and potential."

I've received a few awards over my many years. My first lti is still underwater or perhaps at break even in comparison to the growth of my target retirement fund.

Unless AZ stock just kills this seems a reduction in total comp for many employees.

 

The comhoice you make signs your lay off certificate.

 

the stock incentive doesn't cost AZ a dime. they make it sound like they are rewarding you with this big company payout. It is and always has been a huge lie.

 

I can’t figure out why anyone would switch plans. Who would leave part of their compensation up to the discretion of the manager!!! The enviornment at AZ is already obnoxious with peers jockeying for attention with special projects can you imagine what this would do? And the idea of having stock in one company vs an S&P fund is a monumentally stupid financial choice. I guess the “enterprise” years are not over. I wonder what is looming over the AZ horizon.

 

If you stay with old plan the retirement contribution continues

 

Layoffs loom for those who want the contribution.

 

Awesome! Been waiting for awhile.

 

DING, DING, DING, DING, DING! WINNER-WINNER, CHICKEN DINNER.

I think if you stay with the current/old plan, you benefit yourself and thus, out a target on your back for layoffs.They want to make the new LTI plan sound enticing and bait you into switching. My age, years of service etc, I'm staying with the known. Not going to leave my finances in the hands of my boob of a dsm. And they are a dsm by title only.