0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2...

86
!"#$%&’(%))*+* ,%!-.’%/’0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’6 3%&.!78’9"2%:*-’;<8’=>;? @AB>C3 DEFGHD ;I> (!))’2%’9-.*-’J’C)*.+*’%/’D))*+4!&"* =I> D.%K24%&’%/’D+*&.! BI> D.%K24%&’%/’34&12*$ !" #$%&’()*+$$,-.%*/(,$01 23!23!"3 <I> H*")!-!24%&’%/’(%&/)4"2’%/’L&2*-*$2 MI> 9N&*-$O4K’P4&#!+* 4!" 5&6’-7*89::$.,; <’-:-,*9=*4*:-.&,$;*>$)*>$);9.? 4!@ AB.$);C->*D-.E(%$*89::-,,$$*F>0(,$ @I> E%Q*-&!&"*’C-%"*$$’L2*R’/%-’H4$"1$$4%& G!" H(’’*5’(..-.%*I$;;-9.*J /)(=,*K%$.0( G!@ 59’-7L*/)(=,; SI> L&/%-R!24%&’5*T1*$2*.’:7’2O*’,%!-. M!" N)$(;&)$)O;*#$>9),1*HP*Q@2*R" UI> V*)/6FQ!)1!24%&’%/’E%Q*-&!&"*’C-%"*$$’J’,%!-.’C*-/%-R!&"*’!2’2O4$’3**24&+ S!" 5)-.7->’$;*9=*59’-7L*T9U$).(.7$ ?I> D.W%1-& !"#$%&’()*’+,(-’.#/&0’1%%"234’5’60#7"2#3’#8’64%30/

Transcript of 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2...

Page 1: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%&’(%))*+*,%!-.’%/’0-1$2**$’3**24&+’5*+1)!-’3**24&+’6 3%&.!78’9"2%:*-’;<8’=>;?@AB>C3

DEFGHD

;I> (!))’2%’9-.*-’J’C)*.+*’%/’D))*+4!&"*

=I> D.%K24%&’%/’D+*&.!

BI> D.%K24%&’%/’34&12*$ !" #$%&’()*+$$,-.%*/(,$01 23!23!"3

<I> H*")!-!24%&’%/’(%&/)4"2’%/’L&2*-*$2

MI> 9N&*-$O4K’P4&#!+*

4!" 5&6’-7*89::$.,; <’-:-,*9=*4*:-.&,$;*>$)*>$);9.?4!@ AB.$);C->*D-.E(%$*89::-,,$$*F>0(,$

@I> E%Q*-&!&"*’C-%"*$$’L2*R’/%-’H4$"1$$4%&G!" H(’’*5’(..-.%*I$;;-9.*J /)(=,*K%$.0(G!@ 59’-7L*/)(=,;

SI> L&/%-R!24%&’5*T1*$2*.’:7’2O*’,%!-.M!" N)$(;&)$)O;*#$>9),1*HP*Q@2*R"

UI> V*)/6FQ!)1!24%&’%/’E%Q*-&!&"*’C-%"*$$’J’,%!-.’C*-/%-R!&"*’!2’2O4$’3**24&+S!" 5)-.7->’$;*9=*59’-7L*T9U$).(.7$

?I> D.W%1-&

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’60#7"2#3’#8’64%30/

Page 2: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

REGULAR MEETING OF THE BOARD OF TRUSTEES Jackson College – Central Campus Jackson, Michigan September 9, 2019 The regular meeting of the Board of Trustees of Jackson College was held on Monday, September 9, 2019 at Jackson College’s Central Campus, located at 2111 Emmons Road, Jackson, Michigan 49201. Board Chairman Barnes called the meeting to order at 6:30pm Eastern Daylight Savings Time. Board Members Present: Sam Barnes, Trustee/Chairman; John Crist, Trustee/Vice-Chairman; Donna Lake, Trustee/Treasurer; Matt Heins, Trustee; and Dr. Ed Mathein, Trustee. Board Member Absent: Philip Hoffman, Trustee and, Sheila Patterson, Trustee/Secretary. Others Present: Dr. Daniel J. Phelan, Dr. Kate Thirolf, Cindy Allen, Sara Perkin, Darrell Norris, Jim Jones, Jason Valente, Lee Hampton, Kelly Chambers, Josnelly Aponte, Wendy Barnes, Lindsey Mercer, Chas Lietaert, Glen Richards, Jazmin Cleveland, Jessica Thomas and Sarah Parker. DECLARATION OF CONFLICT OF INTEREST There were no conflicts of interest on the agenda noted by Trustees. ADOPTION OF MINUTES The minutes of the Regular Board Meeting on August 12, 2019 and were considered and moved into the record by Chairman Barnes on behalf of the Trustees. OWNERSHIP LINKAGE Public Comments There were no public comments. Ownership Linkage Committee Update Trustee Lake provided a brief update following the first meeting of the Ownership Linkage Committee, which she and Trustee Crist are co-chairing. They will be meeting in September and October and working to formulate a three year plan. They may also meet with consultant Rose Mercier in November following the planning session. They will keep the rest of the Board updated on progress. Introduction of Josnelly Aponte, New, Jackson College-appointed member of the JPEC Board of Governors

Page 3: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

President Phelan introduced Josnelly Aponte to the Board and invited Governor Aponte to offer brief comments. Ms. Aponte shared is excited to be on the JPEC Board and is also planning on participating on the JPEC Finance Committee as well, which is her area of expertise. GOVERNANCE PROCESS ITEMS FOR DECISION Fall Planning Session – Draft Agenda President Phelan shared an overview of the draft agenda for the Board’s Fall Planning Session scheduled for November 6, 2019. Chairman Barnes shared he will not be able to attend this meeting. President Phelan requested permission to poll the Board for another date that may work for everyone. EXECUTIVE LIMITATION ITEM FOR DECISION Consideration of Best Practices Resolution President Phelan provided an overview of the proposed resolution MOTION BY TRUSTEE CRIST “To approve the Best Practices Resolution as presented.” MOTION PASSED UNANIMOUSLY, REQUIRED APPROVALS AGENDA Consideration of Liquor License President Phelan reviewed a Certificate of Resolution required by the State of Michigan as part of the process to issue a Liquor License for the upcoming raffle and sportsman’s banquet. He noted that such an item would not normally fall into a Policy Governance consideration and that he would normally address the request. However, the State does not recognize this board structure and consequently needed board action. To that end, it was placed on the Required Approvals Agenda, where such items will be placed going forward. MOTION BY TRUSTEE HEINS “To approve the resolution to apply for a special license for the raffle and sportsman’s banquet.” ROLL CALL VOTE. TRUSTEES LAKE, MATHEIN, HEINS, BARNES AND CRIST VOTING AYE. MOTION PASSED ANANOMOUSLY. SELF-EVALUATION OF GOVERNANCE PROCESS & BOARD PERFORMANCE AT THIS MEETING This time provides an opportunity for the Board to reflect on how well Policy Governance principles were incorporated into each meeting. No comments were offered. ADJOURN MOTION BY TRUSTEE LAKE “To adjourn.” MOTION PASSED UNANIMOUSLY, Meeting adjourned at 6:48PM. The foregoing minutes of the regular meeting of the Board of Trustees held on Monday, September 9, 2019 were approved at the regular meeting of the Board held on October 14, 2019.

Page 4: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

_______________________

Secretary

_______________________ Chairman

Page 5: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

BOARD OF TRUSTEES MEETING Action & Information Report

Board Meeting Date: October 14, 2019

TO: Jackson College Board of Trustees FROM: Dr. Daniel J. Phelan, President

Subject to be Discussed and Policy Reference:

5.0 Ownership Linkage 5.1 Public Comments (limit of 5 minutes per person) 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication and Counsel to

the Board)

This agenda item is set aside for any public comments that come forward. Trustees Lake and Crist will be providing an update on their planning related to this work thus far and next steps for engagement of the ownership.

Resource Impact:

None

Requested Board Action:

None

Action Taken:

None

Page 6: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

BOARD OF TRUSTEES MEETING Action & Information Report

Board Meeting Date: October 14, 2019

TO: Jackson College Board of Trustees FROM: Dr. Daniel J. Phelan, President

Subject to be Discussed and Policy Reference:

6.1 Fall Planning Session – Final Draft Agenda

(BOARD POLICY: Governance Process: Governing Style)

Enclosed for discussion is the final draft for the November 6, 2019 Fall Planning Session.

Rose Mercier will be on hand for the Board Planning Session to continue provide an overview of proposed Executive Limitations Policies and work through the reasonable interpretation principle. Additionally, we will provide a brief training on password protection and other trustee items.

Resource Impact:

None

Requested Board Action:

None

Action Taken:

None

Page 7: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%&’(%))*+* ,%!-.’%/’0-1$2**$’3!))’4)!&&5&+’6*$$5%&’7%8*9:*-’;<’=>?@,*-2’A!)#*-’B%%9’?CD

E+*&.!F

GF>> EH >I> ,-*!#/!$2’

GF?D EH ?I> (!))’2%’J-.*-’

GF?; EH =I>’ B%))’(!))’

GF?K EH LI> MN*"1258*’O5952!25%&’4%)5"P’B*85*Q<’B%$*’H*-"5*-’

??FL>’EH !"#$%&’!%()*+,

?=FL>’4H CI> B*!$%&!:)*’R&2*-S-*2!25%&’%/’4%)5"5*$<’B%$*’H*-"5*-

=F>>’4H DI> JQ&*-$T5S’O5&#!+*’(%99522**’

=FL> 4H ;I> 4!$$Q%-.’4-%2*"25%&’0-!5&5&+’

=FCD 4H KI> A5"#Q5-*’U%1$*

LF>> 4H GI> V%8*-&’3%-’R9S!"2’(%&/*-*&"*

LF?> 4H @I> E-25")*F’G’W*P’4-5&"5S)*$’/%-’(%991&52P’(%))*+*’0-1$2**$

LF=> 4H ?>I> 4)1$XY*)2!

LFL> 4H ??I> E.Z%1-&9*&2

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

&

Page 8: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

BOARD OF TRUSTEES MEETING Action & Information Report

Board Meeting Date: October 14, 2019

TO: Jackson College Board of Trustees FROM: Dr. Daniel J. Phelan, President

Subject to be Discussed and Policy Reference:

6.2 Policy Drafts

(BOARD POLICY: Governance Process: Governing Style)

Enclosed are policy drafts provided by Rose Mercier for your initial review and reaction.

These policies will be reviewed and discussed in great detail at the November 6th planning session, however, we wanted to provide to you in advance. We will share your feedback with Rose prior to the Fall Planning Session.

If you have any major items of concern or suggested changes, please let me know.

Resource Impact:

None

Requested Board Action:

None

Action Taken:

None

Page 9: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"!#$ %&’ (&)*

+,- ./01#23 42556"6 72/89 2: +8!#$66#

44- ;/3 <=65/3’ <86#>963$ /39 4?,

@A7.?4+- <82B2#69 86C>#>23# :28 72/89 @$/:: ;656"/$>23 B25>0>6#

!"#$%&’" $!

+=># D6D2 6EB5/>3# $=6 #!""6#$69 86C>#>23# :28 $=6 F2/89G# B25>0>6# >3 $=6 72/89!@$/:: H65/$>23#

0/$6"28IJ K3 $=6 B8>5 L281#=2B 86B28$ K #!""6#$69 $=/$ / 86C>6L 2: $=># 0/$6"28I L2!59 5221 86C>#>3"

6E>#$>3" B25>0>6# $2 63#!86 023#>#$630I L>$= <25>0I M2C683/306 B8>30>B56# /# L655 /# D!$!/5 6E05!#>C>$I 2:

B25>0>6# :28 !3>$I 2: 023$825’ /002!3$/F>5>$I’ 9656"/$>23 /39 D23>$28>3" 2: B68:28D/306J

()!)#*+ ’$,,)!"-

+=># B25>0I 0/$6"28I 96/5# !3>N!65I L>$= $=6 F2/89G# 9656"/$>23 2: /!$=28>$I $2 $=6 <86#>963$J +IB>0/55I

0/5569 72/89!O/3/"6D63$ ;656"/$>23’ I2! D>"=$ L/3$ $2 166B $=6 72/89!@$/:: L289>3" F!$ K #!""6#$

I2! 86$>$56 $=># 0/$6"28I /# P72/89!@$/:: ;656"/$>23Q 2: 72/89!<86#>963$ ;656"/$>23QJ

’$+$# ’$% !(

+=6 02528 029>3" >3 $=># #6$ 2: B25>0>6# ># $=6 #/D6 /# K =/C6 !#69 >3 $=6 2$=68 $L2 0/$6"28>6# 2: B25>0>6#J

+6DB5/$6 B25>0I 023$63$ ># B8>3$69 >3 "8663 =>"=5>"=$69 $6E$J

75!6 =>"=5>"=$69 $6E$ >39>0/$6# / B25>0I #$/$6D63$ 28 /99>$>23/5 B/8$ 2: / B25>0I #$/$6D63$ :82D

$6DB5/$6 B25>0>6# $=/$ #66D# /BB82B8>/$6 $2 $=6 ./01#23 42556"6 023$6E$ /39 L=>0= K #!""6#$ I2!

>305!96J

+=6 F2/89G# 0!8863$ B25>0I #$/$6D63$# /86 >3028B28/$69 >3$2 $=6 #!""6#$69 86C>#>23# /39 /BB6/8

>3 #/5D23 =>"=5>"=$69 $6E$J

+6E$ L>$=2!$ =>"=5>"=$>3" >39>0/$6# B25>0I #$/$6D63$# L=>0= 6E>#$ >3 F2$= $=6 F2/89G# 0!8863$

B25>0>6# /39 2!8 $6DB5/$6 B25>0>6#J

’$,,)!"- #)+*")% "$ -.)’ / ’ ($0)#!*!’) .#$’)-- .$+ ’ )-

+=6 M52F/5 B25>0I /39 $=6 :>8#$ :2!8 B25>0>6# >3 $=># 0/$6"28I RA3>$I 2: 423$825’ 002!3$/F>5>$I 2: $=6

<86#>963$’ ;656"/$>23 $2 $=6 <86#>963$’ /39 O23>$28>3" <86#>963$ <68:28D/306S !#6 $=6 $6DB5/$6# L6

#!""6#$ F60/!#6 $=6#6 B25>0>6# 86N!>86 B860>#6 /BB5>0/$>23 2: <25>0I M2C683/306 B8>30>B56# 865/$69 $2

05/8>$I 2: 9656"/$>23 /39 D23>$28>3"J 423#6N!63$5I $=6#6 B25>0>6# /86 $=6 #/D6 >3 /55 2: $=6 $L65C6

023$6E$# :28 L=>0= L6 =/C6 #$/8$>3" $6DB5/$6#J 3I D29>:>0/$>23 3669# $2 F6 C68I 0/86:!55I $=2!"=$

$=82!"= #2 /# $2 32$ 02DB82D>#6 / B8>30>B56J +=6 :>:$= B25>0I’ <86#>963$ @!006##>23’ /39 $=6 2B$>23/5

B25>0>6# <86#>963$ 42DB63#/$>23 /39 <86#>963$ +68D>3/$>23 0/3 F6 L8>$$63 $2 :>$ $=6 023$6E$’ /# 523" /#

$=6I 86D/>3 023#>#$63$ L>$= <25>0I M2C683/306 B8>30>B56#J

7@;- M52F/5 72/89 @$/:: ;656"/$>23

T2! L>55 8602"3>U6 $=6 B25>0I #$/$6D63$ L=>0= /BB6/8# >3 I2!8 0!8863$ B25>0I’ P<86#>963$G# .2F

;6#08>B$>23QJ # L>$= /55 B25>0I 0/$6"28>6# $=6 "52F/5 B25>0I #$/$6D63$ 6EB86##6# $=6 F82/96#$ 960>#>23 >3

$=6 0/$6"28IJ

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

(

Page 10: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

( V < / " 6

7@;!)- A3>$I 2: 423$825

T2! L>55 8602"3>U6 $=6 =>"=6#$ 56C65 B25>0I #$/$6D63$ >3 $=6 B82B2#69 B25>0I /39 B25>0I >$6D# W) /39 W(

L=>0= /BB6/8 >3 I2!8 0!8863$ B25>0I 23 P;656"/$>23 $2 $=6 <86#>963$QJ +=6 $=>89 B25>0I >$6D ># :!8$=68

96$/>5 23 =2L $=6 F2/89 /# / L=256 023$825# $=6 /!$=28>$I 9656"/$69 $2 $=6 B2#>$>23J

7@;!(- 002!3$/F>5>$I 2: $=6 <86#>963$

T2! L>55 #66 / #>D>5/8>$I >3 $=6 =>"=6#$ 56C65 B25>0I #$/$6D63$ >3 $=6 #!""6#$69 B25>0I $2 $=6 =>"=6#$ 56C65

#$/$6D63$ >3 I2!8 0!8863$ B25>0I P;656"/$>23 $2 $=6 <86#>963$QJ T2! 0/3 /5#2 #66 >3 B25>0I >$6D W% B/8$ 2:

$=6 #$/$6D63$ :82D $=6 =>"=6#$ 56C65 #$/$69 >3 I2!8 0!8863$ B25>0I P<86#>963$G# .2F ;6#08>B$>23QJ +=6

86D/>3>3" #$/$6D63$# B82C>96 D286 #B60>:>0>$I 96$/>5 /F2!$ $=6 /!$=28>$I 2: <86#>963$ L>$= #$/::J +=6

#$/$6D63$ 2: <86#>963$G# X2F 96#08>B$>23 ># #>D>5/8 $2 $=/$ >3 $=6 F2/89G# 0!8863$ B25>0I P<86#>963$G# .2F

;6#08>B$>23Q L>$= $=6 6E06B$>23 $=/$ >$ 926# 32$ >305!96 P/0=>6C6D63$ 2: $=6 42556"6G# #$8/$6">0 B5/3Q /#

B/8$ 2: $=6 <86#>963$G#J #$8/$6">0 B5/3 ># / D/3/"6D63$ $225 $=/$ D/I F6 !#69 FI $=6 <86#>963$ $2

/002DB5>#= $=6 F2/89G# ?39# B25>0>6#J

7@;!%- ;656"/$>23 $2 $=6 <86#>963$

+=686 /86 #>D>5/8>$>6# >3 $=6 F2/89G# 0!8863$ B25>0I $2 $=6 B82B2#69 B25>0I’ /5$=2!"= $=6 5/$$68 B82C>96#

D286 #B60>:>0>$I /F2!$ $=6 B25>0I >$6D# /F2!$ ?39# B25>0>6# YW)Z /39 ?E60!$>C6 [>D>$/$>23# B25>0>6# YW(ZJ

+=686 /86 /5#2 #>D>5/8>$>6# >3 B25>0I >$6D# W\ /39 W] >3 $=6 B82B2#69 B25>0I $2 B25>0I >$6D W( /39 W% >3 $=6

0!8863$ B25>0IJ

7@;!\- O23>$28>3" <86#>963$ <68:28D/306

+=6 B82B2#69 B25>0I 96#08>F6# $=6 D6/#!86D63$ 2: X2F B68:28D/306 L=>0= ># 023#>#$63$ L>$= <25>0I

M2C683/306 B8>30>B56 2: D23>$28>3"’ #B60>:>0/55I $=/$ <86#>963$ B68:28D/306 ># D6/#!869 !"#"$ FI

28"/3>U/$>23/5 /002DB5>#=D63$ 2: / 86/#23/F5I >3$68B86$/$>23 2: $=6 ?39# L>$=>3 $=6 F2!39/8>6# 2:

?E60!$>C6 [>D>$/$>23# Y86/#23/F5I >3$68B86$69ZJ

+=6 D23>$28>3" D6$=29# 2: 6E$683/5 86B28$ /39 9>860$ >3#B60$>23 /86 #>D>5/8 >3 $=6 B82B2#69 YB25>0I

>$6D# W(J( /39 (J% $2 $=6 0!8863$ B25>0I YB25>0I >$6D# (F /39 (9ZJ

KDB28$/3$ 9>::686306# >3 $=6 B82B2#69 B25>0I-

[>D>$>3" 2: D23>$28>3" D6$=29# $2 $=866 D6$=29#’ 32$ :2!8J

K3$683/5 86B28$# L=>0= 235I B82C>96 6C>96306 2: /002DB5>#=D63$ 2: / 86/#23/F56 >3$68B86$/$>23

$=6 F2/89G# B25>0>6# ^ #>D>5/8 $2 L=/$ ># >963$>:>69 /# $=6 <86#>963$G# 86B28$ >3 $=6 0!8863$ B25>0IJ

+=6 #6C63 86B28$# >963$>:>69 >3 $=6 0!8863$ B25>0I /# _>3$683/5 86B28$#Q /86 /0$!/55I >30>963$/5

>3:28D/$>23’ 32$ D23>$28>3" 86B28$#J +=># 926#3G$ D6/3 $=/$ $=6 F2/89 0/332$ /#1 :28 /3I 28 /55

2: $=6 #6C63 3/D69 86B28$#J ‘2L6C68 $=6 /BB82B8>/$6 B25>0I $2 92 #2 >3 ># $=6 ?E60!$>C6

[>D>$/$>23 ?[!a 23 42DD!3>0/$>23 /39 @!BB28$ $2 $=6 72/89 YB25>0I >$6D )J\ZJ

+=6 L/I >3 L=>0= $=6 :28D/5 6C/5!/$>23 2: $=6 <86#>963$ ># #B60>:>69 >3 $=6 B82B2#69 B25>0I >#

023#>#$63$ L>$= <25>0I M2C683/306 B8>30>B56#J

32$=68 16I B25>0I >$6D >3 $=6 B82B2#69 B25>0I ># $=6 F2/89G# #0=69!56 2: D23>$28>3"J

b2$ >305!969 >3 $=6 B82B2#69 B25>0I ># #B60>:>0/$>23 2: $=6 F2/89G# /0$>23 #=2!59 $=6 D23>$28>3" 9/$/ 32$

#!BB28$ 02DB5>/306 L>$= / 86/#23/F56 >3$68B86$/$>23 28 #=2!59 $=6 >3$68B86$/$>23 32$ F6 /##6##69 /#

86/#23/F56J +=686 /86 / C/8>6$I 2: /0$>23# L=>0= $=6 F2/89 D/I $/16 >3 86#B23#6 $2 $=6#6 6C63$#c

=2L6C68’ >$ ># 32$ 3606##/8I $2 #B60>:I $=6D >3 $=6 B25>0IJ

7@;!]- <86#>963$ @!006##>23

+=6 B82B2#69 B25>0I ># F/#69 23 F2/89G# 0!8863$ 72/89!@$/:: H65/$>23# B25>0IJ K =/C6 #!""6#$69 D>328

0=/3"6# >3 166B>3" L>$= $=6 B8>30>B56 2: B25>0I #>U6#’ /# L655 2::6869 $L2 >$6D# :28 023#>968/$>23J

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

)

Page 11: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

% V < / " 6

7@;!d- <86#>963$ 42DB63#/$>23 /39 7@;!e <86#>963$ +68D>3/$>23

+=6#6 B25>0>6# /86 B82C>969 /# 2B$>23#J @=2!59 $=6 F2/89 L/3$ $2 96C652B $=6#6 B25>0>6#’ $=6I F6523" >3

$=># B25>0I 0/$6"28IJ ‘2L6C68’ I2! L/3$ $2 $/>528 $=6D $2 $=6 F2/89G# C/5!6# /39 $=6 !3>N!6 023$6E$ 2:

$=6 42556"6J +=686 ># 023$63$ B82C>969 235I /# /3 6E/DB56J

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

Page 12: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"!# $ % &

’(&!)*$+,-.!.*/&!*00121$/!2*33&241*3!4*!4(&!*5&+$41*3$/!*+%$316$41*37!14.!$2(1&8&9&34.!$3,!2*3,:24!

;1//!)&!4(+*:%(!$!2(1&0!&<&2:418&!*0012&+7!414/&,!#+&.1,&34=

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 >/*)$/!?*$+,@A4$00!B&/&%$41*3! 5:7;8<C! ?AB

!6=8 #>><0?8@9

+01234 %4>89!!?*$+,@A4$00!B&/&%$41*3! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

!

Page 13: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

D!"!# $ % &

E3/F!*00121$//F!5$..&,!9*41*3.!*0!4(&!)*$+,!$+&!)13,13%!*3!4(&!#+&.1,&34=!

=! B&21.1*3.!*+!13.4+:241*3.!*0!13,181,:$/!4+:.4&&.7!*0012&+.7!*+!2*99144&&.!$+&!3*4!)13,13%!*3!4(&!

#+&.1,&34!&<2&54!13!+$+&!13.4$32&.!;(&3!4(&!)*$+,!($.!.5&21012$//F!$:4(*+16&,!.:2(!&<&+21.&!

*0!$:4(*+14F=!

D=! G3!4(&!2$.&!*0!)*$+,!9&9)&+.!*+!2*99144&&.!+&H:&.413%!130*+9$41*3!*+!$..1.4$32&!;14(*:4!

)*$+,!$:4(*+16$41*37!4(&!#+&.1,&34!2$3!+&0:.&!.:2(!+&H:&.4.!4($4!+&H:1+&7!13!4(&!#+&.1,&34-.!

*5131*37!$!9$4&+1$/!$9*:34!*0!.4$00!419&!*+!0:3,.!*+!$+&!,1.+:5418&=!!

I=! E3/F!4(&!)*$+,!$2413%!$.!$!)*,F!2$3!&95/*F7!4&+913$4&7!,1.215/13&7!*+!2($3%&!4(&!2*3,141*3.!

*0!&95/*F9&34!*0!4(&!#+&.1,&34=

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789!J314F!*0!K*34+*/! 5:7;8<C! ?AB@

!6=8 #>><0?8@9

+01234 %4>89!! !?*$+,!A4$00!B&/&%$41*3! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

"

Page 14: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

I!"!# $ % &

’(&!#+&.1,&34!1.!4(&!)*$+,-.!*3/F!/13L!4*!*5&+$41*3$/!$2(1&8&9&34!$3,!2*3,:247!.*!4($4!$//!

$:4(*+14F!$3,!$22*:34$)1/14F!*0!.4$007!$.!0$+!$.!4(&!)*$+,!1.!2*32&+3&,7!1.!2*3.1,&+&,!4(&!$:4(*+14F!

$3,!$22*:34$)1/14F!*0!4(&!#+&.1,&34=!

=! ’(&!)*$+,!;1//!3&8&+!%18&!13.4+:241*3.!4*!5&+.*3.!;(*!+&5*+4!,1+&24/F!*+!13,1+&24/F!4*!4(&!

#+&.1,&34=!

D=! ’(&!)*$+,!;1//!+&0+$13!0+*9!&8$/:$413%7!&14(&+!0*+9$//F!*+!130*+9$//F7!$3F!.4$00!*4(&+!4($3!

4(&!#+&.1,&34=!

I=! A132&!4(&!#+&.1,&34!1.!$22*:34$)/&!0*+!*5&+$41*3$/!$2(1&8&9&347!4(&!)*$+,!;1//!81&;!

#+&.1,&34!5&+0*+9$32&!$.!1,&3412$/!4*!*+%$316$41*3$/!5&+0*+9$32&=!’(&+&0*+&7!4(&!

#+&.1,&34-.!M*)!,&.2+1541*3!1.!4*!$22*95/1.(!$!+&$.*3$)/&!134&+5+&4$41*3!*0!)*$+,@.4$4&,!

N3,.!$3,!2*95/F!;14(!$!+&$.*3$)/&!134&+5+&4$41*3!*0!N<&2:418&!O1914$41*3.=

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 P22*:34$)1/14F!*0!4(&!#+&.1,&34! 5:7;8<C! ?AB@D

!6=8 #>><0?8@9

+01234 %4>89!!?*$+,@A4$00!B&/&%$41*3! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

#

Page 15: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

Q!"!# $ % &

’(&!)*$+,!;1//!13.4+:24!4(&!#+&.1,&34!4(+*:%(!;+144&3!5*/121&.!;(12(!5+&.2+1)&!4(&!*+%$316$41*3$/!

N3,.!4*!)&!$2(1&8&,7!$3,!,&.2+1)&!*+%$316$41*3$/!.14:$41*3.!$3,!$241*3.!4*!)&!$8*1,&,7!$//*;13%!4(&!

#+&.1,&34!4*!:.&!$3F!+&$.*3$)/&!134&+5+&4$41*3!*0!4(&.&!5*/121&.=!

=! ’(&!)*$+,!;1//!,&8&/*5!N3,.!5*/121&.!13.4+:2413%!4(&!#+&.1,&34!4*!$2(1&8&!.5&2101&,!+&.:/4.7!0*+!

.5&2101&,!+&2151&34.!$4!$!.5&2101&,!;*+4(=!

= =!#*/121&.!4($4!,*!3*4!$,,+&..!4(&!.:)M&24.!*0!+&.:/4.7!+&2151&34.!*+!;*+4(!;1//!3*4!)&!132/:,&,!

13!N3,.7!$.!4(&F!+&/$4&!4*!9&$3.=!

=D=!A5&21012$//F7!,*2:9&34.!.:2(!$.!.4+$4&%12!5/$3.!$3,!):,%&4.!;1//!3*4!)&!2*3.1,&+&,!N3,.7!

$.!4(&F!+&/$4&!4*!*5&+$41*3$/!9&$3.!*0!$2(1&813%!4(&!N3,.=!

D=! ’(&!)*$+,!;1//!,&8&/*5!N<&2:418&!O1914$41*3.!5*/121&.!;(12(!/1914!4(&!/$414:,&!4(&!#+&.1,&34!9$F!

&<&+21.&!13!2(**.13%!4(&!*+%$316$41*3$/!9&$3.=!

D= =!’(&.&!/191413%!5*/121&.!;1//!,&.2+1)&!4(*.&!5+$2412&.7!$2418141&.7!,&21.1*3.!$3,!

21+2:9.4$32&.!4($4!4(&!)*$+,!;*:/,!013,!:3&4(12$/!*+!195+:,&347!$3,!4(&+&0*+&!

:3$22&54$)/&7!&8&3!10!4(&F!;&+&!4*!)&!&00&2418&=!!!!

D=D=!’(&!)*$+,!;1//!3&8&+!5+&.2+1)&!*+%$316$41*3$/!9&$3.!,&/&%$4&,!4*!4(&!#+&.1,&34=!

I=! P//!5*/121&.!;1//!)&!,&8&/*5&,!.F.4&9$412$//F!0+*9!4(&!)+*$,&.47!9*.4!%&3&+$/!/&8&/!4*!9*+&!

,&013&,!/&8&/.=!

Q=! P.!/*3%!$.!4(&!#+&.1,&34!:.&.!$3F!+&$.*3$)/&!134&+5+&4$41*3!*0!4(&!)*$+,-.!N3,.!$3,!N<&2:418&!

O1914$41*3.!5*/121&.7!4(&!#+&.1,&34!1.!$:4(*+16&,!4*!&.4$)/1.(!$//!0:+4(&+!5*/121&.7!9$L&!$//!

,&21.1*3.7!4$L&!$//!$241*3.7!&.4$)/1.(!$//!5+$2412&.!$3,!,&8&/*5!$//!$2418141&.=!A:2(!,&21.1*3.!*0!

4(&!#+&.1,&34!.($//!($8&!0://!0*+2&!$3,!$:4(*+14F!$.!10!,&21,&,!)F!4(&!)*$+,=!

R=! ’(&!)*$+,!9$F!2($3%&!14.!N3,.!$3,!N<&2:418&!O1914$41*3.!5*/121&.7!4(&+&)F!.(10413%!4(&!

)*:3,$+F!)&4;&&3!)*$+,!$3,!#+&.1,&34!,*9$13.=!?F!,*13%!.*7!4(&!)*$+,!2($3%&.!4(&!/$414:,&!

*0!2(*12&!%18&3!4*!4(&!#+&.1,&34=!?:4!$.!/*3%!$.!$3F!5$+412:/$+!,&/&%$41*3!1.!13!5/$2&7!4(&!)*$+,!

;1//!+&.5&24!$3,!.:55*+4!$3F!+&$.*3$)/&!#+&.1,&34!134&+5+&4$41*3!*0!4(&!5*/121&.=!’(1.!,*&.!3*4!

5+&8&34!4(&!)*$+,!0+*9!*)4$1313%!130*+9$41*3!0+*9!4(&!#+&.1,&34!$)*:4!4(&!,&/&%$4&,!$+&$.7!

&<2&54!0*+!,$4$!5+*4&24&,!)F!5+18$2F!/&%1./$41*3=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789!B&/&%$41*3!4*!4(&!#+&.1,&34! 5:7;8<C! ?AB@I

!6=8 #>><0?8@9

+01234 %4>89!!?*$+,@A4$00!B&/&%$41*3! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

$

Page 16: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

R!"!# $ % &

#+&.1,&34!M*)!5&+0*+9$32&!;1//!)&!9&$.:+&,!.*/&/F!)F!.F.4&9$412!$3,!+1%*+*:.!9*314*+13%!*0!

#+&.1,&34!M*)!5&+0*+9$32&!13!2*95$+1.*3!4*!4(&!)*$+,-.!+&H:1+&,!#+&.1,&34!M*)!*:45:4.C!!

*+%$316$41*3$/!$22*95/1.(9&34!*0!4(&!#+&.1,&34-.!+&$.*3$)/&!134&+5+&4$41*3!*0!N3,.!5*/121&.!$3,!

*+%$316$41*3$/!*5&+$41*3!;14(13!4(&!)*:3,$+1&.!*0!4(&!#+&.1,&34-.!+&$.*3$)/&!134&+5+&4$41*3!*0!

N<&2:418&!O1914$41*3.!5*/121&.=!

=! ’(&!5:+5*.&!*0!9*314*+13%!1.!.195/F!4*!,&4&+913&!4(&!,&%+&&!4*!;(12(!)*$+,!5*/121&.!$+&!

)&13%!0:/01//&,=!E3/F!130*+9$41*3!;(12(!,*&.!4(1.!;1//!)&!2*3.1,&+&,!4*!)&!9*314*+13%=!

D=! P!%18&3!5*/12F!9$F!)&!9*314*+&,!13!*3&!*+!9*+&!*0!4(+&&!;$F.C!

D= =!G34&+3$/!+&5*+4C!B1.2/*.:+&!*0!2*95/1$32&!130*+9$41*3!)F!4(&!#+&.1,&347!$/*3%!;14(!(1.!*+!

(&+!&<5/1214!134&+5+&4$41*3!*0!)*$+,!5*/12F7!$3,!M:.41012$41*3!0*+!4(&!+&$.*3$)/&3&..!*0!

134&+5+&4$41*3=!

D=D=!N<4&+3$/!+&5*+4C!B1.2*8&+F!*0!2*95/1$32&!130*+9$41*3!)F!$3!&<4&+3$/7!,1.134&+&.4&,!4(1+,!

5$+4F7!;(*!($.!$55+*5+1$4&!H:$/1012$41*3.!$3,!$!.:14$)/&!/&8&/!*0!13,&5&3,&32&!0+*9!

9$3$%&9&347!;(*!1.!.&/&24&,!)F!$3,!+&5*+4.!,1+&24/F!4*!4(&!)*$+,=!!!!

D=I=!B1+&24!?*$+,!G3.5&241*3C!B1.2*8&+F!*0!2*95/1$32&!130*+9$41*3!)F!$!,&.1%3$4&,!)*$+,!

9&9)&+7!$!2*99144&&!*+!4(&!)*$+,!$.!$!;(*/&=!A:2(!$3!13.5&241*3!1.!*3/F!:3,&+4$L&3!$4!

4(&!13.4+:241*3!*0!4(&!)*$+,=!

I=! S&%$+,/&..!*0!4(&!9&4(*,!*0!9*314*+13%7!4(&!.4$3,$+,!0*+!2*95/1$32&!.($//!)&!$3F!+&$.*3$)/&!

#+&.1,&34!134&+5+&4$41*3!*0!4(&!)*$+,!5*/12F!)&13%!9*314*+&,=!’(&!)*$+,!1.!4(&!013$/!$+)14&+!*0!

+&$.*3$)/&3&..7!):4!;1//!$/;$F.!M:,%&!;14(!$!T+&$.*3$)/&!5&+.*3U!4&.4!+$4(&+!4($3!

134&+5+&4$41*3.!0$8*:+&,!)F!)*$+,!9&9)&+.7!4(&!,1.134&+&.4&,!4(1+,!5$+4F7!*+!&8&3!4(&!)*$+,!$.!

$!;(*/&=!

Q=! J5*3!4(&!2(*12&!*0!4(&!)*$+,7!$3F!5*/12F!2$3!)&!9*314*+&,!)F!$3F!*0!4(&!$)*8&!9&4(*,.!$4!

$3F!419&=!V*+!+&%:/$+!9*314*+13%7!(*;&8&+7!&$2(! !"#!$3,! $%&’()*%+,)-)(.()/!#!5*/12F!;1//!

)&!2/$..101&,!)F!4(&!)*$+,!$22*+,13%!4*!0+&H:&32F!$3,!9&4(*,=!

R=! P!0*+9$/!&8$/:$41*3!*0!4(&!#+&.1,&34!)F!4(&!)*$+,!;1//!*22:+!$33:$//F!13!P:%:.47!)$.&,!*3!4(&!

$2(1&8&9&34!*0!4(&!?*$+,W.! !"#!#*/121&.!$3,!3*3@81*/$41*3!*0!14.! $%&’()*%+,)-)(.()/!#

5*/121&.=!’(1.!0*+9$/!&8$/:$41*3!;1//!)&!2*3,:24&,!)F!2:9:/$413%!4(&!+&%:/$+!9*314*+13%!,$4$!

5+*81,&,!,:+13%!4(&!F&$+!$3,!4(&!)*$+,-.!+&2*+,&,!$22&54$32&!*+!3*3@$22&54$32&!*0!4(&!

+&5*+4.7!$3,!1,&3410F13%!5&+0*+9$32&!4+&3,.!&81,&32&,!)F!4($4!,$4$=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 X*314*+13%!#+&.1,&34!#&+0*+9$32&! 5:7;8<C! ?AB@Q

!6=8 #>><0?8@9

+01234 %4>89!!?*$+,@A4$00!B&/&%$41*3! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

%

Page 17: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

Y!"!# $ % &

D’5-%’"-5E ).F*!(,* G *H67>18 ’A14 0I %4>8B 0I D8=J0@B 6A@ $<8K:8A34

5:7;8< +01234 D8=J0@ $<8K:8A34 !6=8 L8H67>18

0A14M

N! ! G34&+3$/!S&5*+4! P33:$//F! !

N@ ! ! G34&+3$/!S&5*+4! P33:$//F! !

N@D! ! G34&+3$/!S&5*+4! P33:$//F! !

N@I! ! G34&+3$/!S&5*+4! P33:$//F! !

N@Q! ! G34&+3$/!S&5*+4! P33:$//F! !

N@R! ! G34&+3$/!S&5*+4! P33:$//F! !

N@Y! ! G34&+3$/!S&5*+4! P33:$//F! !

NO! >&3&+$/!N<&2:418&!K*3.4+$134! G34&+3$/!S&5*+4! P33:$//F! !

NO@ ! ’+&$49&34!*0!A4:,&34.!! G34&+3$/!S&5*+4! P33:$//F! !

NO@D! ’+&$49&34!*0!A4$00! G34&+3$/!S&5*+4! P33:$//F! !

NO@I! #/$3313%! B1+&24!G3.5&241*3! P33:$//F! ?&0*+&!Z !

! ! G34&+3$/!S&5*+4! ! !

NO@Q! V13$321$/!K*3,141*37!01.2$/!M&*5$+,F!! G34&+3$/!S&5*+4! Z:$+4&+/F! !

NO@Q! V13$321$/!K*3,141*3.![!P2418141&.! G34&+3$/!S&5*+4! P33:$//F! !

! ! N<4&+3$/!S&5*+4! P33:$//F! P04&+!01.2$/!ZQ!

NO@R! P..&4!#+*4&241*3! G34&+3$/!S&5*+4! P33:$//F! P04&+!01.2$/!ZD!

! ! N<4&+3$/!S&5*+4! P33:$//F! P04&+!01.2$/!ZQ!

NO@Y! G38&.49&34.! G34&+3$/!S&5*+4! P33:$//F! !

NO@\! K*95&3.$41*3!$3,!?&3&014.! G34&+3$/!S&5*+4! P33:$//F! !

NO@]! K*99:312$41*3![!A:55*+4!4*!4(&!?*$+,! G34&+3$/!S&5*+4! P33:$//F! !

NO@^! E+%$316$41*3$/!K:/4:+&! G34&+3$/!S&5*+4! P33:$//F! !

NO@ _! P22&..!4*!N,:2$41*3! G34&+3$/!S&5*+4! P33:$//F! !

NO@ ! N3,.!V*2:.!*0!>+$34.!*+!K*34+$24.! G34&+3$/!S&5*+4! P33:$//F! !

NO@ D! O$3,!J.&! G34&+3$/!S&5*+4! P33:$//F! !

NO@ I! N34+&5+&3&:+1$/!P241814F! G34&+3$/!S&5*+4! P33:$//F! !

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

&

Page 18: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

\!"!# $ % &

G3!14.!+*/&!*0!$..:+13%!*+%$316$41*3$/!5&+0*+9$32&7!4(&!)*$+,!.($//!4$L&!$241*3!13!4(&!&8&34!*0!#+&.1,&34!

$).&32&!4*!&3.:+&!2*3.1.4&34!/&$,&+.(15!0*+!4(&!9$3$%&9&34!*+!4(&!*+%$316$41*3!$3,7!;(&3!3&2&..$+F7!

$3!*+,&+/F!4+$3.141*3!13!#+&.1,&34!.:22&..1*3=!

)J0<= 6A@ ,0AN %8<7 #;B8A38B

=! ’(&!)*$+,!2*3.1,&+.!$!.(*+4@4&+9!$).&32&!4*!)&!*3&!;(12(!1.!/*3%&+!4($3!*3&!9*34(!$3,!/&..!4($3!

.1<!9*34(.!13!;(12(!14!1.!&<5&24&,!4($4!4(&!#+&.1,&34!;1//!+&4:+3!4*!(1.!*+!(&+!5*.141*3!*32&!4(&!&8&34.!

4($4!5+&21514$4&,!4(&!$).&32&!$+&!+&.*/8&,=!P3F!$).&32&!/*3%&+!4($3!.1<!9*34(.!1.!2*3.1,&+&,!4*!)&!$!

/*3%@4&+9!$).&32&=!

D=! A(*:/,!$3!$).&32&!*0!4(&!#+&.1,&34!$+1.&7!4(&!)*$+,!;1//!9&&4!$.!.**3!$.!0&$.1)/&!$4!$!.5&21$/!*+!

+&%:/$+!9&&413%=!’(&!)*$+,!;1//!+&81&;!4(&!#+&.1,&34-.!9*.4!+&2&34!+&$.*3$)/&!134&+5+&4$41*3!0*+!

N<&2:418&!O1914$41*3!NO@I!‘^=D!aT0%1-)(+(2%+3/44%5%+(/+6%+7)(2/’(+#’88)&)%!(+/15.!)9.()/!.4+&.:.&)(;+

.!"+&’11%!(+)!8/1-.()/!+.6/’(+01%#)"%!(+.!"+6/.1"+)##’%#+.!"+:1/&%##%#+8/1+(2%+&/-:%(%!(+/:%1.()/!+

/8+(2%+/15.!)9.()/!+(/+&/!()!’%+)!+(2%+%*%!(+/8+#’""%!+4/##+/8+01%#)"%!(+#%1*)&%#<=b!$3,!‘^=D= !

aT01%:.1%+!/+8%7%1+(2.!+(7/+3/44%5%+%$%&’()*%+#(.88+(/+.##’-%+/:%1.()/!+/8+(2%+/15.!)9.()/!=Ub=!

I=! ’(&!)*$+,!;1//!$55*134!$3!P2413%!#+&.1,&34=!

I= =! G0!3*3&!*0!4(&!&<&2:418&!.4$00!,&.1%3$4&,!)F!4(&!#+&.1,&34!1.!:3$)/&!*+!:3;1//13%!4*!.&+8&!$.!4(&!

P2413%!#+&.1,&347!4(&!)*$+,!9$F!&3%$%&!134&+19!5+&.1,&34!.&+812&.=!

Q=! ’(&!P2413%!#+&.1,&34!;1//!($8&!4(&!.$9&!$:4(*+14F!$3,!$22*:34$)1/14F!$.!4(&!#+&.1,&34=!

R=! ’(&!)*$+,!;1//!,&4&+913&!10!14!;1.(&.!4*!$9&3,!14.!N<&2:418&!O1914$41*3.!13!$+&$.!*0!.1%31012$34!

*+%$316$41*3$/!+1.L!*+!132+&$.&!4(&!0+&H:&32F!*0!9*314*+13%!0*+!$3F!5*/12F!*+!$3F!5$+4!*0!$3F!5*/12F!0*+!

4(&!5&+1*,!*0!4(&!$).&32&=!

Y=! G3!$,,141*3!4*!9*314*+13%!P2413%!#+&.1,&34!5&+0*+9$32&!4(+*:%(!4(&!3*+9$/!2F2/&!*0!9*314*+13%!

+&5*+4.7!4(&!?*$+,!;1//!5+*81,&!$!.:99$418&!5&+0*+9$32&!$..&..9&34!*0!4(&!P2413%!#+&.1,&34!$4!

$%+&&,!:5*3!134&+8$/.=!

\=! ’(&!)*$+,!;1//!,&4&+913&!2*95&3.$41*3!0*+!4(&!134&+19!$55*1349&34=!

]=! G99&,1$4&/F!:5*3!4(&!$55*1349&34!*0!4(&!P2413%!#+&.1,&34!4$L13%!&00&247!4(&!K($1+!;1//!3*412&!.4$007!

4+:.4&&.7!4(&!V*:3,$41*3!)*$+,7!4(&!c$2L.*3!#+&5$+$4*+F!$3,!N$+/F!K*//&%&!?*$+,!$3,!L&F!21812!$3,!

*+%$316$41*3$/!/&$,&+.!*0!4(&!,&/&%$41*3!*0!$:4(*+14F=!

"8=:<A I<07 #;B8A38

^=! ’(&!)*$+,!$3,!#+&.1,&34!.($//!9:4:$//F!,&21,&!:5*3!4(&!.2(&,:/&!0*+!+&4:+3!4*!4(&!5*.141*3=!

^= =! P!+&,:2&,!.2(&,:/&!0*+!$!.&4!5&+1*,!*0!419&!1.!$//*;&,!;14(!4(&!2*99149&34!*0!;*+L13%!4*;$+,.!

0://@419&!.2(&,:/&=!

_=! G3!4(&!&8&34!4($4!&14(&+!4(&!.(*+4!4&+9!*+!/*3%!4&+9!$).&32&!&34$1/.!$!9&,12$/!&8&34!+&3,&+13%!

5&+0*+9$32&!13!4(&!5*.141*3!:34&3$)/&7!4(&!)*$+,!.($//!,&4&+913&!4(&!$341215$4&,!+&4:+3!4*!.&+812&!

$3,d*+!4(&!13$)1/14F!4*!,*!.*!$3, 4(&!5&+1*,!*0!419&!4($4!14!1.!5+:,&34!4*!2*3413:&!;14(!4(&!134&+19!

$55*1349&34=

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 #+&.1,&34!A:22&..1*3! 5:7;8<C! ?AB@R

!6=8 #>><0?8@9

+01234 %4>89!!?*$+,@A4$00!B&/&%$41*3! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

Page 19: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

]!"!# $ % &

=! G3!4(&!&8&34!4($4!4(&!#+&.1,&34!3*4101&.!4(&!)*$+,!4($4!4(&!$).&32&!;1//!)&!5&+9$3&347!4(&!K($1+!;14(!

135:4!$3,!,1+&241*3!0+*9!4+:.4&&.!;1//!,&8&/*5!$!5/$3!0*+!+&2+:149&34!$3,!.&/&241*3=!

= =! A&+812&!$.!P2413%!#+&.1,&34!.($//!3*4!5+&2/:,&!$!5&+.*3!0+*9!)&13%!2*3.1,&+&,!)F!4(&!)*$+,!

0*+!5&+9$3&34!$55*1349&34!$.!K*//&%&!#+&.1,&34=!

D=!S&%$+,/&..!*0!4(&!5+*2&..!:.&,7!4(&!?*$+,!$.!$!;(*/&!;1//!$55+*8&!4(&!5&+.*3!4*!)&!$55*134&,!

#+&.1,&34=!

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

(

Page 20: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

^!"!# $ % &

S*.&-.!e*4&C!’(1.!5*/12F!1.!3*4!+&H:1+&,!f!):4!14!1.!$!%**,!*541*3!0*+!4(&!)*$+,!4*!2*3.1,&+!

($813%=!g*:!;$34!4(&!5*/12F!4*!+&0/&24!4(&!)*$+,-.!2*95&3.$41*3!5(1/*.*5(F=!

’(&!#+&.1,&34-.!2*95&3.$41*3!;1//!)&!,&21,&,!)F!4(&!)*$+,!$.!$!)*,F!$3,!)$.&,!*3!2*+5*+$4&!

5&+0*+9$32&!$3,!&<&2:418&!9$+L&4!2*3,141*3.=!

=! K*+5*+$4&!5&+0*+9$32&!;1//!)&!*3/F!4($4!5&+0*+9$32&!+&8&$/&,!)F!4(&!9*314*+13%!.F.4&9!4*!

)&!,1+&24/F!+&/$4&,!4*!2+14&+1$!%18&3!)F!4(&!)*$+,!13!5*/12F=!

D=! K*95&3.$41*3!;1//!2*8&+!4(&!&341+&!+$3%&!*0!.$/$+F7!)&3&014.7!$3,!$//!*4(&+!0*+9.!*0!

2*95&3.$41*3=!

I=! K*95&3.$41*3!1.!4*!)&!2*95&41418&!;14(!.191/$+!5&+0*+9$32&!;14(13!4(&!9$+L&45/$2&!;(1/&!

5/$213%!$!.:).4$341$/!5*+41*3!*0!4(&!#+&.1,&34-.!2*95&3.$41*3!$4!+1.L!)F!4F13%!14!4*!N3,.!

$2(1&8&9&34!$3,!2*95/1$32&!;14(!N<&2:418&!O1914$41*3.!5*/121&.=!’(&!&<&2:418&!9$+L&45/$2&!

4*!)&!2*3.1,&+&,!1.!*+%$316$41*3.!*0!2*95$+$)/&!.16&7!2($//&3%&.!$3,!2*95/&<141&.=!h#*/12F!

14&9.!‘I= !$3,!‘I=D!$+&!&<$95/&.!*0!(*;!$!)*$+,!2*:/,!):1/,!5&+0*+9$32&!)*3:.!2+14&+1$!

134*!4(&!5*/12F=!P%$13!4(1.!1.!$3!&<$95/&!*3/F=i!

I= =!G0!4(&!#+&.1,&34!.:).4$341$//F!$2(1&8&.!N3,.!$3,!2*95/1&.!;14(!N<&2:418&!O1914$41*3.!

(1.d(&+!$33:$/!)$.&!.$/$+F!;1//!)&!.&4!$4!9$+L&4!8$/:&=!X$+L&4!j$/:&!;1//!)&!,&4&+913&,!

:41/1613%!+&.&$+2(!0+*9!$3!*:4.1,&!4(1+,!5$+4F=!

I=D=!’(&!)*$+,!;1//!$;$+,!$!)*3:.!4*!4(&!#+&.1,&34!)$.&,!*3!$!.&4!*0!N3,.@+&/$4&,!2+14&+1$!

$%+&&,!:5*3!;14(!4(&!#+&.1,&34=!

Q=! P!2*99144&&!5+*2&..!9$F!)&!:.&,!4*!%$4(&+!130*+9$41*3!$3,!4*!5+*81,&!*541*3.!$3,!4(&1+!

195/12$41*3.!4*!4(&!0://!)*$+,!0*+!14.!,&21.1*3=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 #+&.1,&34!K*95&3.$41*3! 5:7;8<C! ?AB@Y

!6=8 #>><0?8@9

+01234 %4>89!!?*$+,@A4$00!B&/&%$41*3! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

!)

Page 21: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

_!"!# $ % &

S*.&-.!e*4&C!’(1.!1.!$3*4(&+!5*/12F!;(12(!1.!3*4!+&H:1+&,!):4!.(*:/,!4(&!)*$+,!9$F!;1.(!4*!

2*3.1,&+!.:2(!$!5*/12F7!14!3&&,.!4*!)&!9*,101&,!4*!014!F*:+!8$/:&.=!

#+&.1,&34! 4&+913$41*3! 1.! $3! $:4(*+14F! +&4$13&,! )F! 4(&! )*$+,7! 3*4! ,&/&%$4&,! 4*! $3F! *0012&+! *+!

2*99144&&=!

=! ’(&!,&21.1*3!5+*2&..!;1//!)&!130*+9&,!)F!5&+0*+9$32&!,$4$!,+$;3!0+*9!4(&!9*314*+13%!.F.4&97!

;(12(! 1.! 14.&/0!,1+&24/F! +&/$4&,! 4*!#+&.1,&34!5&+0*+9$32&!*3!2+14&+1$! 4(&!)*$+,!($.!.4$4&,! 13!

5*/12F=!

D=! ’(&!)*$+,!9$F!2(**.&!4*!4&+913$4&!0*+!*4(&+!+&$.*3.7!):4!9:.4!4(&3!3&%*41$4&!4(&!4&+9.!*0!

4($4!4&+913$41*3!*+!0*//*;!;($4&8&+!5+*81.1*3.!($8&!)&&3!9$,&!)F!2*34+$24=!

I=! P! 2*99144&&!5+*2&..!9$F!)&!:.&,! 4*!%$4(&+! 130*+9$41*3!$3,! 4*!5+*81,&!*541*3.!$3,! 4(&1+!

195/12$41*3.!4*!4(&!0://!)*$+,=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 #+&.1,&34!’&+913$41*3!! 5:7;8<C! ?AB@\

!6=8 #>><0?8@9

+01234 %4>89!!?*$+,@A4$00!B&/&%$41*3! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

!

Page 22: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"!#$ %& ’()*

+,- ./01#23 42556"6 72/89 2: +8!#$66#

44- ;/3 <=65/3& <86#>963$ /39 4?,

@A7.?4+- <82B2#69 86C>#>23# :28 ?D60!$>C6 E>F>$/$>23# <25>0>6#

!"#$%&’" $!

G>$= $=># F6F2& H /F >305!9>3" #!""6#$69 86C>#>23# :28 $=6 72/89I# ?D60!$>C6 E>F>$/$>23# B25>0>6#J 7K

L/K 2: / 86F>3968& H 32$69 >3 $=6 B8>5 L281#=2B 86B28$ $=/$ / 86C>6L 2: $=6#6 B25>0>6# L2!59 />F $2 92

$=6 :2552L>3"-

M6#$/$6 B25>0>6# $2 65>F>3/$6 $=6 N#=/55 32$ :/>5 $2I :28F L=>0= ># 32 523"68 !#69 >3 5>F>$/$>23#

B25>0>6#J .2=3 /39 O>8>/F 4/8C68 #$2BB69 !#>3" $=># :28F :28 ?D60!$>C6 E>F>$/$>23# P60/!#6 $=6K

96$68F>369 >$ $22 2:$63 56/9# $2 B25>0>6# L=>0= 92 32$ 056/85K #$/$6 L=/$ ># !3/006B$/P56 $2 /

P2/89 /39 $22 6/#>5K 56/9# $2 #$/$6F63$# 2: P2/89!B86:68869 F/3/"6F63$ B8/0$>06#J

@!""6#$ F286 023$6FB28/8K C68#>23# :28 B25>0>6# L=686 $=6#6 6D>#$J

?5>F>3/$6 $=6 !33606##/8K !#6 2: QL>$=2!$ B8>28 /BB82C/5R 28 Q!356## /BB82C69 PK $=6 72/89R /#

B/8$ 2: /3 ?D60!$>C6 E>F>$/$>23J ;60>#>23# L=>0= /86 B!$ 2::!5>F>$# >3 / 5>F>$/$>23 F6/3# $=6#6

960>#>23# /586/9K P6523" $2 $=6 P2/89J

M6/##>"3 6D60!$>C6 5>F>$/$>23# $2 $=6 B25>0K L>$= L=>0= $=6K /86 /5>"369J

H963$>:K C/5!6# >3 $=6 F23>$28>3" 86B28$# :28 ?39# B25>0>6#& S2C683/306 <8206## B25>0>6# /39

72/89 @$/:: M65/$>23#=>B B25>0>6# L=>0= /86 P6$$68 023$/>369 >3 ?D60!$>C6 E>F>$/$>23# B25>0>6#J

9986## >3#$/306# L=686 $=6 B25>0>6# 92 32$ /5>"3 L>$= $=6 B8>30>B56 L>$= B25>0K #>T6#J

H =/C6 /9986##69 6/0= 2: $=6#6 656F63$# >3 $=6 B82B2#69 B25>0>6#J

’$($# ’$% !)

U2! L>55 V!>015K 32$6 $=/$ $=6 B25>0>6# /86 02528!02969J +=># #66F69 $=6 6/#>6#$ L/K $2 6DB5/>3 $=6

B25>0>6# /# $=6K /86 B86#63$69J

+=6 #$/8$>3" B2>3$ :28 $=6 B25>0K 86C>6L ># $=6 #6$ 2: $6FB5/$6 B25>0>6# $=/$ L6 =/C6 $/>52869 2C68 $>F6

#B60>:>0/55K :28 $=6 42556"6 023$6D$J +=6 B25>0K #6$ ># 02FB86=63#>C6J W2L6C68& 32$ 6C68K B25>0K L>55

3606##/8>5K /BB5K $2 $=6 ./01#23 42556"6 023$6D$X $=># ># /5#2 $8!6 :28 /55 2: $=6 B25>0K #$/$6F63$# >3 /

B25>0KJ W2L6C68& H =/C6 >305!969 /55 B25>0>6# :82F $=6 42556"6 $6FB5/$6 :28 K2!8 023#>968/$>23J +6FB5/$6

B25>0K 023$63$ ># B8>3$69 >3 "8663 =>"=5>"=$69 :23$J +=686 /86 >3#$/306# L=686 H #!""6#$ $=/$ $=6 B25>0K

#$/$6F63$ 28 /3 /99>$>23/5 B/8$ 2: / B25>0K #$/$6F63$ :82F $=6 $6FB5/$6 B25>0>6# #66F# /BB82B8>/$6 $2

$=6 ./01#23 42556"6 023$6D$J ,3 $=6#6 200/#>23#& $=6 $6D$ /BB6/8# /# P5!6 =>"=5>"=$69 :23$J

H =/C6 >3$6"8/$69 K2!8 0!8863$ B25>0K #$/$6F63$# >3$2 $=6 #!""6#$69 86C>#>23#J +=6K /BB6/8 >3 #/5F23

=>"=5>"=$69 :23$J U2! L>55 #2F6$>F6# #66 $=6 #/5F23 =>"=5>"=$69 $6D$ L>$= 92!P56 #$8>16$=82!"=J +=># >#

!#69 L=63 H #!""6#$ $=6 9656$>23 2: / B25>0K #$/$6F63$ 28 B/8$ $=6862:& !#!/55K :28 236 2: $=6 86/#23#

6DB5/>369 >3 $=6 36D$ #60$>23J H 2:$63 /99 / 02FF63$ >3 $=6 $6D$ 2: $=6 B25>0K /# / 86F>3968J

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

!!

Page 23: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

’ Y < / " 6

+=686 ># $6D$ L>$=2!$ /3K =>"=5>"=$>3"J +=># 86B86#63$# B25>0K #$/$6F63$# L=>0= 6D>#$ >3 P2$= K2!8 0!8863$

B25>0>6# /39 2!8 $6FB5/$6 B25>0>6#J

)*!*#+( ’$,,*!"-

+=6 S6368/5 ?D60!$>C6 423#$8/>3$ Z?E[ B!$# 2:: 5>F>$# $2 $=6 <86#>963$ /55 Q!35/L:!5R /0$>23#& 960>#>23#

/39 #>$!/$>23#J H$ ># $=686:286 !33606##/8K L>$=>3 /3K #!P#6V!63$ ?D60!$>C6 E>F>$/$>23# B25>0K $2 #$/$6

$=/$ ># !3/006B$/P56 $2 $/16 /0$>23# >3023#>#$63$ L>$= 5/L# /39 86"!5/$>23#J U2! L2!59 6DB60$ $2 #66 >3

$=6 F23>$28>3" 86B28$ :28 $=6 S6368/5 ?D60!$>C6 423#$8/>3$ F6$8>0# $=/$ 96F23#$8/$6 02FB5>/306 L>$=

/55 /BB5>0/P56 5/L# /39 86"!5/$>23#& /523" L>$= 6C>96306 $=/$ #!BB28$# 02FB5>/306 L>$= $=6 0=2#63

F6$8>0#J

H =/C6 9656$69 >3#$/306# L=686 QL>$=2!$ B8>28 /BB82C/5R 28 Q!356## /BB82C69 PK $=6 72/89R ># B/8$ 2: /3

?D60!$>C6 E>F>$/$>23J ;60>#>23# L=>0= /86 B!$ 2::!5>F>$# >3 / B25>0K #$/$6F63$ F6/3# $=6 960>#>23#

/586/9K P6523" $2 $=6 P2/89J

U2! L>55 /5#2 32$6 $=/$ H #!""6#$ 9656$>3" B25>0K #$/$6F63$# L=>0= /86 QF/3/"6F63$ B86#08>B$>23#R& >J6J

#$/$6F63$# $=/$ 92 32$ #B60>:K /3 !3/006B$/P56 0239>$>23 P!$ >3#$6/9 #$/$6 #B60>:>0 F/3/"6F63$ /0$>23#

L=>0= F!#$ P6 $/163 PK $=6 <86#>963$J 7K #B60>:K>3" !3/006B$/P56 0239>$>23# >3 >$# ?D60!$>C6 E>F>$/$>23#&

/ P2/89 086/$6 P2!39/8>6# L>$=>3 L=>0= $=6 <86#>963$ F/K 2B68/$6J G=63 $=6 P2/89 L8>$6#

F/3/"6F63$ B86#08>B$>23#& >$ $/16# /L/K $=6 <86#>963$I# /!$=28>$K $2 2B68/$6 L>$=>3 P2!39/8>6# /39

>3#$6/9 0=22#6# $=6 #B60>:>0 /0$>23 $2 P6 $/163J

<25>0>6# #=2!59 32$ >305!96 6DB5/3/$28K >3$829!0$>23# 28 96:>3>$>23#J +=6 P2/89 #=2!59 #/K 6C68K$=>3" >$

3669# $2 #/K >3 $=6 B25>0K #$/$6F63$# $=6F#65C6#J H3$829!0$>23# 28 96:>3>$>23 28 /BB639>06# 235K #68C6 $2

869!06 $=6 05/8>$K 2: $=6 P2/89I# 9>860$>23# $2 $=6 <86#>963$J +=6 P2/89 #=2!59 L8>$6 B25>0K $2 $=6 56C65 2:

96$/>5 /$ L=>0= $=6 F/\28>$K 2: $=6 P2/89 ># B86B/869 $2 /006B$ /3K 86/#23/P56 >3$68B86$/$>23J 760/!#6

$=6 P2/89 =/# 32$ P663 F23>$28>3" ?D60!$>C6 E>F>$/$>23# B25>0>6# $=6 6::60$ 2: $=6#6 N6D$8/#I =/# 32$

P663 6C>963$J

’$,,*!"- #*(+"*% "$ -.*’ / ’ *0*’&" 1* ( , "+" $!- .$( ’ *-

S6368/5 ?D60!$>C6 423#$8/>3$- U2! L>55 32$6 $=># B25>0K ># / #>3"56 2C68/80=>3" #$/$6F63$J H$ B82C>96# /

#$2B "/B >3 $=/$ /3K 960>#>23& /0$>23 28 0>80!F#$/306 32$ /9986##69 PK / #B60>:>0 B25>0K ># /5L/K#

023#>96869 /"/>3#$ $=6 02FB86=63#>C6 08>$68>/ 2: !35/L:!5& >FB8!963$& /39 !36$=>0/5J

?E! )- +86/$F63$ 2: @$!963$#-

+=6 B25>0K 23 W!F/3 M65/$>23#=>B# =/# P663 #6B/8/$69 >3$2 +86/$F63$ 2: @$/:: /39 +86/$F63$ 2:

@$!963$# P60/!#6 $=6K /86 #!::>0>63$5K 9>::6863$ >3 #02B6J

U2! L>55 32$6 $=/$ $=686 /86 #6C68/5 B25>0K #$/$6F63$# :82F $=6 $6FB5/$6 $=/$ H #!""6#$ P6 >305!969J

?E!’- +86/$F63$ 2: @$/::-

+=686 /86 F/3K #>F>5/8>$>6# P6$L663 K2!8 0!8863$ B25>0>6# /39 $=6 B25>0K $6FB5/$6J +=686 /86 $L2

#$/$6F63$# :82F K2!8 0!8863$ B25>0>6# L=>0= =/C6 P663 >3028B28/$69J W2L6C68& K2! L/3$ $2 023#>968

B25>0K >$6F ]%J H$ #=2!59 P6 >305!969 !"# $% $=6 86/#23 :28 =/C>3" >$ ># / C/5!6 $=/$ /55 #$/:: #=2!59 =/C6

#!0= 2BB28$!3>$K /39 32$ \!#$ P60/!#6 >$I# / L/K $2 /0=>6C6 ?39#J 7/#69 23 L=/$ H !3968#$/39 2: $=6

42556"6I# 28"/3>T/$>23/5 0!5$!86& H $=>31 >$ ># /BB82B8>/$6 $2 >305!96J

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

!"

Page 24: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

^ Y < / " 6

?E!^- <5/33>3"

+=># ># /3 ?D60!$>C6 E>F>$/$>23 B25>0K L=>0= 6302FB/##6# :>3/30>/5 B5/33>3" Z/39 P!9"6$>3"[ /523" L>$=

28"/3>T/$>23/5 B5/33>3" /39 $=6 B86C>2!#5K #6B/8/$6 B25>0K 23 B86#>963$ #!006##>23J

?E!_- ‘>3/30>/5 4239>$>23# /39 0$>C>$>6#

U2! F/K L/3$ $2 023#>968 >: K2! B86:68 B25>0K >$6F ]* /39 ]*J) 28 /3 ?D60!$>C6 E>F>$/$>23 23

?3$86B8636!8>/5 0$>C>$>6# ZB86#63$69 /# ?E!)^[J U2! 02!59 /5#2 >3$6"8/$6 $=6 B25>0K >$6F# #$/$69 >3 ?E!)^

>3 ?E!_ Z]*[J

?E!%- ##6$ <82$60$>23

H /F 0!8>2!# /# $2 L=/$ #66F# $2 P6 / C68K 52L $=86#=259 :28 /3 28"/3>T/$>23 2: $=6 #0/56 2: $=6 42556"6J

,!8 $6FB5/$6 :28 ]%J’ !#6# QL>$=2!$ =/C>3" 2P$/>369 02FB/8/$>C6 B8>06# /39 V!/5>$KR L=>0= ># 56##

86#$8>0$>C6 $=/3 QP>9#RJ A356## $=686 ># #2F6 6D$683/5 86V!>86F63$ :28 $=>#& $=63 QO/16 /3K B!80=/#6

L>$=2!$ =/C>3" 2P$/>369 02FB/8/$>C6 B8>06# /39 V!/5>$KR #=2!59 P6 #!::>0>63$J M6F6FP68 K2! /86

9656"/$>3" /3K 86/#23/P56 >3$68B86$/$>23 2: $=># B25>0K $2 $=6 <86#>963$X >$ F/K P6 $=/$ $=686 /86 /

C/8>6$K 2: #$/:: F6/3# L=>0= F>"=$ P6 !#69 L>$=>3 $=6 5>F>$# 2: $=6 F286 "6368/5 B25>0K #$/$6F63$J

@>F>5/85K& $=6 $=86#=259 :28 %J^ #66F# C68K 52L :28 /3 2B68/$>23 $=6 #0/56 2: $=6 42556"6J

,!8 $6FB5/$6# B82C>96 96$/>569 52L68 56C65# 865/$69 $2 >3#!8/306 P60/!#6 2: $=6 #B60>:>0 6DB68$>#6 2: /

F6FP68 2: 2!8 023#!5$>3" $6/FJ W6306& K2! L>55 #66 #6C68/5 #60$>23# 2: "8663 =>"=5>"=$69 :23$ L=>0= >#

B82C>969 :28 023#>968/$>23& 32$ P60/!#6 H #!""6#$ K2! >305!96 >$J

?E!a- H3C6#$F63$#

@>F>5/85K& 2!8 6DB68>6306 L>$= 28"/3>T/$>23# 2C68 $=6 K6/8# =/# 86#!5$69 >3 086/$>3" /3 ?D60!$>C6

E>F>$/$>23 #B60>:>0/55K :28 $=6 2B68/$>23/5 /86/ 2: >3C6#$F63$J G=686/# >3C6#$F63$ L/# B86C>2!#5K

>305!969 /# B/8$ 2: ##6$ <82$60$>23& L6 :2!39 $=/$ C/5!6# 865/$69 $2 >3C6#$F63$ 2:$63 8606>C69

>3#!::>0>63$ /$$63$>23J # L655& 28"/3>T/$>23/5 >3C6#$F63$ =/# P602F6 >3086/#>3"5K #2B=>#$>0/$69J

?E!b- 42FB63#/$>23 /39 7636:>$#

H =/C6 $8>69 $2 28"/3>T6 $=6 B25>0K >$6F# >3 / L/K $=/$ 9>#$>3"!>#=6# B25>0>6# 865/$69 $2 !3>23>T69 /39

323!!3>23>T69 6FB52K66#J W2L6C68& $=># B25>0K F68>$# 0/86:!5 86C>6LJ

?E!c- 42FF!3>0/$>23 /39 @!BB28$ $2 $=6 72/89

+=6 28"/3>T/$>23 2: $=6 B25>0K 86:560$# $=6 023$6FB28/8K #$8!0$!86 >3 L=>0= $=686 /86 $=866 =>"=68 56C65

#$/$6F63$# L=>0= 6302FB/## L=/$ B86C>2!#5K L/# / #68>6# 2: 6V!/5 56C65 B25>0K #$/$6F63$#J +=># 0=/3"6

L/# F/96 PK O>8>/F 4/8C68 F>9!’(((J +=6 P5!6 =>"=5>"=$69 $6D$ :82F 2!8 $6FB5/$6# 86:560$# $=6

023$6FB28/8K C68#>23 2: $=># B25>0K L=>0= H #!""6#$ ># /BB82B8>/$6 $2 >305!96J

?E!*- ,8"/3>T/$>23 4!5$!86 ! ,::6869 :28 023#>968/$>23J +=686 /86 #B60>:>0 32$6# L>$=>3 $=6 B25>0KJ

?E!)(- 006## $2 ?9!0/$>23 ! 5#2 2::6869 :28 K2!8 023#>968/$>23J

?E!))- ?39# ‘20!# 2: S8/3$# 28 423$8/0$# ! ,::6869 :28 023#>968/$>23J A#6 235K >: 8656C/3$J

?E!)’- E/39 A#6 ! ,::6869 :28 023#>968/$>23J A#6 235K >: 8656C/3$J

?E!)^- ?3$86B8636!8>/5 0$>C>$K?E!)^- ?3$86B8636!8>/5 0$>C>$K ! @66 $=6 32$6 :28 ?E!_J

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

!#

Page 25: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 /%2%3 4 5 6

$76% 3869:;6<=% 974>>% <?=% @4A96% ?8% 4>>?B% 4<C% D84@=:@6E% 4@=:F:=CE% ;6@:9:?<% ?8% ?854<:G4=:?<4>%@:8@AH9=4<@6%B7:@7%:9%6:=768%A<>4BIA>E%:HD8A;6<=%?8%:<%F:?>4=:?<%?I%@?HH?<>C%4@@6D=6;%JA9:<699%4<;%D8?I699:?<4>%6=7:@9K

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 L>?J4>%’M6@A=:F6%N?<9=84:<=% 5:7;8<O% ’P

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

!$

Page 26: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 Q%2%3 4 5 6

$76%3869:;6<=%974>>%<?=%@4A96%?8%4>>?B%@?<;:=:?<9E%D8?@6;A869%?8%;6@:9:?<9%86>4=6;%=?%=76%=864=H6<=%?I%9=A;6<=9%=74=%486%A<94I6E%A<I4:8E%;:9869D6@=IA>E%?8%A<<6@69948:>C%:<=8A9:F6K%%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%9=4=6H6<=%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% 368H:=%9=A;6<=9%4<;%?=7689%B7?%A96%N?>>656%D8?D68=C%=?%J6%B:=7?A=%8649?<4J>6%D8?=6@=:?<9%454:<9=%74G48;9%?8%@?<;:=:?<9%=74=%H:57=%=7864=6<%=76:8%764>=7E%94I6=C%?8%B6>>RJ6:<5K%

/K/K%">>?B%9=A;6<=9%=?%J6%B:=7?A=%@A886<=E%6<I?8@6;%D?>:@:69%=74=%H:<:H:G6%=76%D?=6<=:4>%I?8%6MD?9A86%=?%748499H6<=E%D8?F:;6%86H6;C%I?8%748499H6<=%9:=A4=:?<9E%4<;%D8?F:;6%H6=7?;9%I?8%;64>:<5%B:=7%:<;:F:;A4>9%B7?%748499K%

QK% 6>:F68%D8?584H9%:<%4%H4<<68%=74=%:9%:<96<9:=:F6%=?%9=A;6<=9S%@A>=A86K%

TK% 368H:=%F:?>4=:?<%?I%9=A;6<=%@?<I:;6<=:4>:=C%4<;%D8:F4@CE%6M@6D=%B7686%9D6@:I:@%;:9@>?9A86%:9%86UA:86;%JC%>65:9>4=:?<%?8%865A>4=:?<K%

TK/K%V96%I?8H9%?8%D8?@6;A869%=74=%6>:@:=%:<I?8H4=:?<%I?8%B7:@7%=7686%:9%<?%@>648%<6@699:=CK%

TKQK%V96%H6=7?;9%?I%@?>>6@=:<5E%86F:6B:<5E%9=?8:<5%?8%=84<9H:==:<5%9=A;6<=%:<I?8H4=:?<%=74=%:<4;6UA4=6>C%D8?=6@=%454:<9=%:HD8?D68%4@@699%=?%D689?<4>%:<I?8H4=:?<K%

WK% 368H:=%4;H:99:?<E%865:9=84=:?<E%6F4>A4=:?<E%?8%86@?5<:=:?<%D8?@69969%=74=%=864=%9=A;6<=9%A<I4:8>CK%

,K% 368H:=%A<I4:8E%:<@?<9:9=6<=%?8%A<=:H6>C%74<;>:<5%?I%9=A;6<=%@?HD>4:<=9K%

,K/K%368H:=%9=A;6<=9%=?%J6%B:=7?A=%4%D8?@699%I?8%865:9=68:<5%4%@?HD>4:<=%?8%@?<@68<E%:<@>A;:<5%4<%4DD64>%D8?@699E%?8%=?%J6%A<:<I?8H6;%?I%=76%D8?@699K%

XK% 368H:=%9=A;6<=9%=?%J6%A<:<I?8H6;%?I%9=A;6<=%8:57=9%4<;%869D?<9:J:>:=:69E%:<@>A;:<5%6MD6@=4=:?<9%I?8%9=A;6<=%J674F:?A8E%4<;%=76%@?<96UA6<@69%?I%I4:>A86%=?%4;7686%=?%=76%6MD6@=4=:?<9K%

YK% !6=4>:4=6%454:<9=%4<C%9=A;6<=%I?8%<?<R;:98AD=:F6%6MD8699:?<%?I%;:996<=K%

.K% 368H:=%;6@:9:?<9%4II6@=:<5%9=A;6<=9%=?%J6%=4Z6<%B:=7?A=%4DD8?D8:4=6%@?<9A>=4=:?<%B:=7%9=A;6<=9K

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 $864=H6<=%?I%[=A;6<=9% 5:7;8<O% ’PR/

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

!%

Page 27: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 T%2%3 4 5 6

$76%3869:;6<=%974>>%<?=%@4A96%?8%4>>?B%4%B?8ZD>4@6%6<F:8?<H6<=%=74=%:9%A<I4:8E%;:9869D6@=IA>E%A<94I6E%;:9?854<:G6;E%?8%?=768B:96%:<=68I6869%B:=7%9=4IIS9%4J:>:=C%=?%;?%=76:8%\?J9K%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%9=4=6H6<=%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% ">>?B%9=4II%=?%J6%B:=7?A=%@A886<=E%6<I?8@6;E%B8:==6<%7AH4<%869?A8@6%D?>:@:69%=74=%@>48:IC%6MD6@=4=:?<9%4<;%B?8Z:<5%@?<;:=:?<9E%D8?F:;6%I?8%6II6@=:F6%74<;>:<5%?I%58:6F4<@69E%4<;%D8?=6@=%454:<9=%B8?<5IA>%@?<;:=:?<9K%

/K/K%368H:=%9=4II%=?%J6%B:=7?A=%4;6UA4=6%D8?=6@=:?<%I8?H%748499H6<=K%

/KQK%368H:=%9=4II%=?%J6%A<:<I?8H6;%?I%=76%D68I?8H4<@6%9=4<;48;9%JC%B7:@7%=76C%B:>>%J6%4996996;K%

QK% 368H:=%B?8ZD>4@6%@?<;:=:?<9%B7:@7%;?%<?=%@?HD>C%B:=7%@A886<=%@?>>6@=:F6%J4854:<:<5%45866H6<=9%?8%=76%8A>69%4<;%865A>4=:?<9%D68=4:<:<5%=?%9=4II%4<;%I4@A>=C%>4J?8%A<:?<9%?8%A<:?<%>4J?8%45866H6<=9K%

TK% !6=4>:4=6%454:<9=%4<C%9=4II%H6HJ68%I?8%<?<R;:98AD=:F6%6MD8699:?<%?I%;:996<=K%

WK% ">>?B%9=4II%=?%J6%A<D86D486;%=?%;64>%B:=7%6H6856<@C%9:=A4=:?<9K%%

,K% 368H:=%9=4II%=?%J6%B:=7?A=%8649?<4J>6%?DD?8=A<:=C%I?8%D8?I699:?<4>%58?B=7%4<;%;6F6>?DH6<=K%

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 $864=H6<=%?I%[=4II% 5:7;8<O% ’PRQ

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

!&

Page 28: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 W%2%3 4 5 6

$76%3869:;6<=%974>>%<?=%D68H:=%D>4<<:<5%=74=%4>>?@4=69%869?A8@69%:<%4%B4C%=74=%8:9Z9%I:9@4>%\6?D48;C%?8%=74=%:9%<?=%4>:5<6;%B:=7%4@7:6F6H6<=%?I%=76%J?48;S9%’<;9K%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%9=4=6H6<=%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% &D684=6%B:=7?A=%4%;?@AH6<=6;E%HA>=:RC648%9=84=65C%=74=%@4<%J6%6MD6@=6;%=?%4@7:6F6%4%8649?<4J>6%:<=68D86=4=:?<%?I%=76%’<;9K%

/K/K% 368H:=%D>4<<:<5%=74=%;?69%<?=%6MD>4:<%4<;%\A9=:IC%499AHD=:?<9E%4<;%:;6<=:IC%86>6F4<=%6<F:8?<H6<=4>%I4@=?89K%

QK% 368H:=%JA;56=:<5%I?8%4<C%I:9@4>%D68:?;%?8%=76%86H4:<:<5%D48=%?I%4<C%I:9@4>%D68:?;%=74=%:9%<?=%;68:F6;%I8?H%=76%HA>=:RC648%D>4<%;A8:<5%=74=%C648K%

TK% 368H:=%I:<4<@:4>%D>4<<:<5%=74=%?H:=9%@86;:J>6%D8?\6@=:?<%?I%86F6<A69%4<;%6MD6<969E%96D484=:?<%?I%@4D:=4>%6MD6<;:=A869%4<;%?D684=:?<4>%6MD6<969E%@497%I>?B%D8?\6@=:?<9E%D8:?8%C648%@?HD48:9?<9E%4<;%;:9@>?9A86%?I%D>4<<:<5%499AHD=:?<9K%

TK/K% &H:=%D8:?8%C648%@?HD48:9?<9%I?8%;6D48=H6<=9K%

TKQK% 38?F:;69%>699%=74<%=76%4H?A<=%86UA:86;%=?%4;;8699%@8:=:@4>%;6I6886;%H4:<=6<4<@6K%

TKTK%&H:=%:<%=76%4<<A4>%?D684=:<5%JA;56=%4;6UA4=6%D8?F:9:?<%I?8%D>4<=%4<;%I4@:>:=:69%H4:<=6<4<@6E%6>6@=8?<:@%4<;%:<9=:=A=:?<4>%6UA:DH6<=%4<;%D8?584H%4<;%@?A896%;6F6>?DH6<=E%9=4II%;6F6>?DH6<=%4<;%:<9=:=A=:?<4>%869648@7K%

TKTK/K% P699%=74<%WK,]%?I%=76%=?=4>%?D684=:<5%JA;56=%4>>?@4=6;%I?8%D>4<%4<;%I4@:>:=:69%H4:<=6<4<@6K%

TKTKQK% P699%=74<%TK,]%4>>?@4=6;%I?8%6>6@=8?<:@%4<;%:<9=:=A=:?<4>%6UA:DH6<=K%

WK% 368H:=%I:<4<@:4>%D>4<<:<5%=74=%?H:=9%@86;:J>6%=7866%C648%D8?RI?8H4%=86<;%?I%86F6<A69%4<;%6MD6<969K%

,K% 368H:=%I:<4<@:4>%D>4<<:<5%B:=7?A=%4%D8?\6@=6;%I:F6RC648%I4@:>:=:69%H49=68%D>4<K%

XK% 368H:=%D>4<<:<5%=74=%8:9Z9%4<C%9:=A4=:?<%?8%@?<;:=:?<%;69@8:J6;%49%A<4@@6D=4J>6%:<%=76%^#:<4<@:4>%N?<;:=:?<%4<;%"@=:F:=:69_%D?>:@CK%

YK% 368H:=%I:<4<@:4>%D>4<<:<5%=74=%;?69%<?=%D8?F:;6%=76%4H?A<=%?I%?D684=:<5%IA<;9%;6=68H:<6;%4<<A4>>C%JC%=76%J?48;%I?8%:=9%;:86@=%A96%;A8:<5%=76%C648%=?%6<9A86%J?48;%4;F4<@6H6<=%4<;%@?HD6=6<=%5?F68<4<@6%?I%=76%N?>>656E%9A@7%49%@?9=9%?I%I:9@4>%4A;:=E%J?48;%;6F6>?DH6<=E%J?48;%4<;%@?HH:==66%H66=:<59E%J?48;%>654>%I669E%4<;%?B<6897:D%>:<Z456%

.K% ">>?B%4<%4<<A4>%?D684=:<5%JA;56=%:<%B7:@7%H?86%IA<;9%486%=?%J6%;:9D6896;%=74<%486%@?<968F4=:F6>C%D8?\6@=6;%=?%J6%86@6:F6;K%%

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 3>4<<:<5% 5:7;8<O% ’PRT

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

!’

Page 29: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 ,%2%3 4 5 6

0K% 368H:=%D>4<<:<5%=74=%6<;4<5689%=76%I:9@4>%9?A<;<699%?I%IA=A86%C6489%?8%:5<?869%=76%JA:>;:<5%?I%?854<:G4=:?<4>%@4D4J:>:=C%9AII:@:6<=%=?%4@7:6F6%’<;9%:<%IA=A86%C6489K%

0K/K% &D684=6%B:=7?A=%9A@@699:?<%D>4<9%=?%I4@:>:=4=6%9H??=7%?D684=:?<9%;A8:<5%Z6C%D689?<<6>%=84<9:=:?<9%4<;%6<9A86%@?HD6=6<=%?D684=:?<%?I%=76%?854<:G4=:?<%?F68%=76%>?<5%=68HK%

0KQK% 368H:=%=76%@?>>656%=?%J6%B:=7?A=%9AII:@:6<=%?854<:G4=:?<4>%@4D4@:=C%4<;%@A886<=%:<I?8H4=:?<%4J?A=%3869:;6<=%4<;%J?48;%:99A69%4<;%D8?@69969%I?8%=76%@?HD6=6<=%?D684=:?<%?I%=76%?854<:G4=:?<%=?%@?<=:<A6%:<%=76%6F6<=%?I%9A;;6<%>?99%?I%3869:;6<=%968F:@69K%

0KQK/K% 386D486%<?%I6B68%=74<%=B?%N?>>656%6M6@A=:F6%9=4II%=?%499AH6%?D684=:?<%?I%=76%?854<:G4=:?<K%

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

!(

Page 30: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 X%2%3 4 5 6

*:=7%869D6@=%=?%=76%4@=A4>E%?<5?:<5%I:<4<@:4>%@?<;:=:?<9%4<;%4@=:F:=:69E%=76%3869:;6<=%974>>%<?=%@4A96%?8%4>>?B%=76%;6F6>?DH6<=%?I%I:9@4>%\6?D48;C%?8%4@=A4>%6MD6<;:=A869%=74=%486%<?=%4>:5<6;%B:=7%4@7:6F6H6<=%?I%=76%J?48;S9%’<;9K%%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%9=4=6H6<=%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% ’MD6<;%H?86%IA<;9%=74<%74F6%J66<%86@6:F6;%:<%=76%I:9@4>%C648%=?%;4=6%A<>699%=76%;6J=%5A:;6>:<6%J6>?B%:9%H6=K%

/K/K%)<@A8%;6J=%:<%4<%4H?A<=%5864=68%=74<%@4<%J6%86D4:;%JC%@68=4:<E%?=768B:96%A<6<@AHJ686;%86F6<A69%B:=7:<%=76%@A886<=%I:9@4>%C648%?8%=74=%@4<%J6%86D4:;%=?%4@@?A<=9%D86F:?A9>C%69=4J>:976;%JC%=76%J?48;%I?8%=74=%DA8D?96K%

QK% [7:I=%IA<;9%J6=B66<%4@@?A<=9%:<%4H?A<=9%5864=68%=74<%@4<%J6%869=?86;%=?%4%@?<;:=:?<%?I%;:9@86=6%IA<;%J4>4<@69%JC%@68=4:<E%?=768B:96%A<6<@AHJ686;%86F6<A69%B:=7:<%‘%;4C9%B:=7?A=%J?88?B:<5K%

TK% V96%IA<;9%I8?H%869=8:@=6;%?8%;69:5<4=6;%4@@?A<=9%I?8%DA8D?969%?=768%=74<%=74=%I?8%B7:@7%=76%4@@?A<=%B49%69=4J>:976;K%

WK% ">>?B%=76%N?>>656S9%@497%D?9:=:?<%:<%4<C%H?<=7%=?%J6%>699%=74<%:9%<66;6;%=?%94=:9IC%?J>:54=:?<9%:<%=74=%H?<=7K%

WK/K%">>?B%4%@?HJ:<6;%?D684=:<5%IA<;%J4>4<@6%86968F69%=?%J6%>699%=74<%=76%4F68456%?I%=B?%H?<=79S%?D684=:<5%6MD6<969%?8%:<%6M@699%?I%=76%4H?A<=%86UA:86;%I?8%=7866%H?<=79K%

,K% ">>?B%=76%A<=:H6>C%D4CH6<=%?I%D4C8?>>%4<;%;6J=9K%

XK% *8:=6%?II%86@6:F4J>69%B:=7?A=%74F:<5%I:89=%4558699:F6>C%DA89A6;%D4CH6<=%4I=68%4%8649?<4J>6%584@6%D68:?;K%

YK% ">>?B%=4M%D4CH6<=9%?8%?=768%5?F68<H6<=%?8;686;%D4CH6<=9%?8%86D?8=9%=?%J6%?F68;A6%?8%:<4@@A84=6>C%I:>6;K%

.K% "@UA:86E%6<@AHJ68%?8%;:9D?96%?I%>4<;%?8%JA:>;:<59K%B:=7?A=%a?48;%4DD8?F4>%

0K% ’<5456%:<%6<=86D86<6A8:4>%4@=:F:=C%:<@?<9:9=6<=%B:=7%@?<=8:JA=:?<%=?%=76%?F684>>%’<;9%?I%=76%@?>>656%:<%?8;68%=?%56<684=6%:<@?H6K%

0K/K%’<5456%:<%6<=86D86<6A8:4>%4@=:F:=:69%I?8%B7:@7%=76%IA>>%@?9=%?I%=76%4@=:F:=C%:9%<?=%86@?5<:G6;K%

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 #:<4<@:4>%N?<;:=:?<9%4<;%"@=:F:=:69% 5:7;8<O% ’PRW

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

")

Page 31: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 Y%2%3 4 5 6

$76%3869:;6<=%974>>%<?=%4>>?B%4996=9%=?%J6%A<D8?=6@=6;E%:<4;6UA4=6>C%H4:<=4:<6;%?8%A<<6@69948:>C%8:9Z6;K%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%9=4=6H6<=%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% 368H:=%=76%?854<:G4=:?<%74F6%:<4;6UA4=6%J?<;:<5%4<;-?8%:<4;6UA4=6%:<9A84<@6%454:<9=%D8?D68=C%4<;%@49A4>=C%>?9969K%

/K/K%368H:=%=76%?854<:G4=:?<%=?%:<9A86%:=9%D8?D68=C%B:=7%:<4;6UA4=6%F4>A4=:?<%4<;%>:H:=9%4<;%I?8%;4H456%;A6%=?%4<%:<9AII:@:6<=%9@?D6%?I%D68:>9K%

/K/K/K%)<9A86%=76%JA:>;:<59%4<;%@?<=6<=9%B:=7%4%J>4<Z6=%>:H:=%>699%=74<%0b]%?I%=76%@?9=%=?%86D>4@6%=76%;4H456;%:=6H9%B:=7%H4=68:4>9%?I%>:Z6%Z:<;%4<;%UA4>:=CE%B:=7?A=%;6;A@=:?<%I?8%;6D86@:4=:?<K%

/K/KQK%368H:=%=76%N?>>656%=?%74F6%:<4;6UA4=6%:<9A84<@6%I?8%=76I=E%;:94DD6484<@6%?8%;69=8A@=:?<%?I%H?<6C%4<;%96@A8:=:69%:<9:;6%?8%?A=9:;6%=76%D86H:969K%

/KQK%368H:=%=76%J?48;%H6HJ689E%9=4II%4<;%:<;:F:;A4>9%6<5456;%:<%4@=:F:=:69%?<%J674>I%?I%=76%?854<:G4=:?<E%?8%=76%?854<:G4=:?<%:=96>IE%=?%74F6%:<4;6UA4=6%>:4J:>:=C%:<9A84<@6K%

/KQK/K%">>?B%=76%?854<:G4=:?<E%J?48;%H6HJ689E%4<;%9=4II%=?%74F6%:<4;6UA4=6%:<9A84<@6%@?F68:<5%D8?I699:?<4>%>:4J:>:=CE%688?89%?8%?H:99:?<9%86>4=6;%=?%=76%4;H:<:9=84=:?<%?I%?8%I:;A@:48C%;A=:69%:<F?>F6;%B:=7%;69:5<%?8%4;H:<:9=84=:?<%?I%6HD>?C66%J6<6I:=9E%B8?<5IA>%4@=9%:<F?>F:<5%D689?<<6>%?8%?=768%H4=68:4>%;6@:9:?<9E%?8%@>4:H9%4>>65:<5%96MA4>%H?>69=4=:?<%4<;%4JA96K%

/KTK%368H:=%=76%?854<:G4=:?<%=?%74F6%:<4;6UA4=6%38:F4@C-NCJ68%:<9A84<@6K%

/KWK%368H:=%:<;:F:;A4>9%=84F6>:<5%?A=%?I%@?A<=8C%?<%J674>I%?I%=76%?854<:G4=:?<%=?%74F6%:<4;6UA4=6%$84F6>%"@@:;6<=%:<9A84<@6K%

/K,K%368H:=%=76%?854<:G4=:?<%=?%DA8@7496%4%J?<;%?8%@8:H6%:<9A84<@6%

% B:=7%:<4;6UA4=6%>:H:=9E%

% B7:@7%;?69%<?=%@?F68%>?99%;A6%=?%;:97?<69=C%4<;%>4@Z%?I%I4:=7IA>%D68I?8H4<@6%JC%D689?<<6>%74F:<5%4@@699%=?%H4=68:4>%4H?A<=9%?I%IA<;9E%4<;%

% B7:@7%;?69%<?=%@?HD>C%B:=7%4<C%4DD>:@4J>6%9=4=A=?8C%?8%865A>4=?8C%?J>:54=:?<9%86>4=6;%=?%D6<9:?<9K%

/KXK%368H:=%=76%?854<:G4=:?<%4<;%:=9%D689?<<6>%B?8Z:<5%4J8?4;%=?%74F6%:<4;6UA4=6%I?86:5<%>:4J:>:=CE%F?>A<=48C%B?8Z689%@?HD6<94=:?<E%D8?D68=CE%4<;%Z:;<4D%4<;%84<9?H%:<9A84<@6K%

QK% ">>?B%A<J?<;6;%D689?<<6>%4@@699%=?%H4=68:4>%4H?A<=9%?I%IA<;9K%-">>?B%D689?<<6>%B7?%486%<?=%:<@>A;6;%A<;68%4%J?<;%?8%@8:H6%:<9A84<@6%=?%74F6%4@@699%=?%H4=68:4>%4H?A<=9%?I%IA<;9K%

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 "996=%38?=6@=:?<% 5:7;8<O% ’PR,

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

"

Page 32: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 .%2%3 4 5 6

TK% V<<6@69948:>C%6MD?96%=76%?854<:G4=:?<E%:=9%J?48;%H6HJ689%?8%9=4II%=?%@>4:H9%?I%>:4J:>:=CK%

TK/K%">>?B%4<C%H4=68:4>%@?<=84@=9%?8%H4=68:4>%:<=68<4>%7AH4<%869?A8@6%;?@AH6<=9%=?%J6%6M6@A=6;%B:=7%:<4;6UA4=6%86F:6B%JC%UA4>:I:6;%>654>%@?A<96>K%

TKQK%">>?B%4<C%6HD>?C66%?8%F?>A<=668%=?%J6%:<%@?<=4@=%B:=7%@7:>;86<%A<;68%=76%456%?I%/.%?8%?=768%FA><684J>6%D?DA>4=:?<9%B:=7?A=%J6:<5%9@866<6;%9AJ\6@=%=?%=76%86UA:86H6<=9%?I%=76%?854<:G4=:?<S9%:<9A868K%

WK% !6@6:F6E%D8?@699%?8%;:9JA896%IA<;9%A<;68%@?<=8?>9%B7:@7%486%:<9AII:@:6<=%=?%H66=%4A;:=%9=4<;48;9K%%

WK/K%!6@6:F6E%D8?@699%?8%;:9JA896%=76%?854<:G4=:?<S9%4996=9%A<;68%:<=68<4>%@?<=8?>9%:<9AII:@:6<=%=?%;6=6@=E%;6=68%4<;%D86F6<=%I84A;%?8%:<9AII:@:6<=%=?%D86F6<=%4<;%;6=6@=%9:5<:I:@4<=%;6I:@:6<@:69%?8%H4=68:4>%B64Z<69969K%

WKQK%368H:=%:<=68<4>%@?<=8?>9%:<9AII:@:6<=%=?%D86F6<=%4<;%6<9A86%454:<9=%=48;CE%:<4@@A84=6E%9D6@:?A9%?8%H:9>64;:<5%I:<4<@:4>%86D?8=:<5K%%

,K% c4Z6%DA8@74969%=74=%;?%<?=%869A>=%:<%4DD8?D8:4=6%>6F6>%?I%UA4>:=CE%4I=68RDA8@7496%968F:@6%4<;%F4>A6%I?8%;?>>48%?8%;?%<?=%D8?F:;6%?DD?8=A<:=C%I?8%I4:8%@?HD6=:=:?<K%%%

,K/K%c4Z6%4<C%DA8@7496%B7686:<%<?8H4>>C%D8A;6<=%D8?=6@=:?<%749%<?=%J66<%5:F6<%454:<9=%@?<I>:@=%?I%:<=6869=K%

,KQK%c4Z6%4<C%DA8@7496%?I%?F68%d,Ebbb%B:=7?A=%74F:<5%?J=4:<6;%@?HD484=:F6%D8:@69%4<;%UA4>:=C%I8?H%4=%>649=%=7866%@?HD6=:=:F6%J:;9K%&8;689%974>>%<?=%J6%9D>:=%=?%4F?:;%=7696%@8:=68:4K%

,KTK%c4Z6%4<C%DA8@7496%?I%?F68%d/bEbbb%B:=7?A=%4%9=8:<56<=%H6=7?;%?I%499A8:<5%=76%J4>4<@6%?I%>?<5%=68H%UA4>:=C%4<;%@?9=%?8%B:=7?A=%@?<9:;684=:?<%?I%=76%I:<4<@:4>%9ADD?8=%D8?F:;6;%=?%=76%N?>>656%JC%4%J:;;68K%e !"#$%&’()*’’+, #-(.#’/$0$ 1#’()’#-/$$’"$%2$&’3 &"4’ )’%5% 2%32$4’".36 ##$&’(!’1/$1%/$&’"1$0 ) 0%# (!"7f%%&8;689%974>>%<?=%J6%9D>:=%=?%4F?:;%=7696%@8:=68:4K%

,KWK%">>?B%H:<?8:=CE%B?H6<%4<;%F6=684<%F6<;?89%=?%J6%B:=7?A=%:<I?8H4=:?<%@8:=:@4>%=?%=76:8%86@6:F:<5%6UA:=4J>6%@?<9:;684=:?<%:<%@?HD6=:=:F6%J:;;:<5K%

XK% c4Z6%4<C%:<;:F:;A4>%6MD6<;:=A86%?I%5864=68%=74<%d,bEbbb%=74=%B49%<?=%:<@>A;6;%:<%=76%:<:=:4>%I:<4<@:4>%D>4<%I?8%=76%C648E%B7:@7%B49%4996996;%JC%=76%J?48;%49%@?HD>:4<=%B:=7%=76%’M6@A=:F6%P:H:=4=:?<%?<%3>4<<:<5K%e!c%D?99:J>6%4;;:=:?<O%^(/’$80$$&’#-$’(/ 9 !%22:’3.&9$#$&’0("#’)(/’%’0%1 #%2’1./0-%"$’3:’6(/$’#-%!’;<_%&!%M]Kf%

YK% N?HD8?H:96%=76%:<;6D6<;6<@6%?I%=76%J?48;S9%4A;:=%?8%?=768%6M=68<4>%H?<:=?8:<5%?8%4;F:@6K%

YK/K%%’<5456%D48=:69%4>864;C%@7?96<%JC%=76%J?48;%49%@?<9A>=4<=9%?8%4;F:9689K%%

.K% N4A96%?8%4>>?B%JA:>;:<59%4<;%6UA:DH6<=%=?%J6%9AJ\6@=6;%=?%:HD8?D68%B648%4<;%=648%?8%:<9AII:@:6<=%H4:<=6<4<@6K%

0K% ">>?B%:<=6>>6@=A4>%D8?D68=CE%=84;6H48Z9%4<;%@?DC8:57=9E%:<I?8H4=:?<E%4<;%I:>69%=?%J6%A<D8?=6@=6;%?8%6MD?96;%=?%>?99%?8%9:5<:I:@4<=%;4H456K%

/bK%’<;4<568%=76%?854<:G4=:?<S9%DAJ>:@%:H456E%@86;:J:>:=CE%?8%:=9%4J:>:=C%=?%4@@?HD>:97%’<;9K%%

/bK/K%">>?B%<?<R4;7686<@6%=?%5A:;6>:<69%86UA:86;%I?8%86UA:86;%:<9=:=A=:?<4>%4<;%;69:86;%9ADD>6H6<=4>%D8?584H%4@@86;:=4=:?<9K%e#!&c%’<;9O%4@@86;:=4=:?<f%

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

"!

Page 33: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 0%2%3 4 5 6

/bKQK%"@@6D=%5:I=9%?8%584<=9%B7:@7%?J>:54=6%=76%N?>>656%=?%H4Z6%IA=A86%6MD6<;:=A869%?=768%=74<%=7?96%D8?F:;6;%I?8%JC%=76%5:I=%?8%584<=K%

/bKTK%3AJ>:@>C%D?9:=:?<%=76%N?>>656%:<%9ADD?8=%?I%?8%?DD?9:=:?<%=?%4<C%D?>:=:@4>%D48=C%?8%@4<;:;4=6%I?8%DAJ>:@%?II:@6K%

/bKWK% 6F6>?D%?8% @?<=:<A6%@?>>4J?84=:F6% 86>4=:?<97:D9%B:=7%?854<:G4=:?<9%B7?96%D8:<@:D>69%?8%D84@=:@69%486%:<@?HD4=:J>6%B:=7%=7?96%?I%=76%N?>>656K%%

/bK,K%">>?B%86>4=:?<97:D9%B:=7%9=4Z67?>;689%=?%J6%:<@?<9:9=6<=%B:=7%=76%D8?;A@=:F6%@??D684=:?<%<6@69948C%=?%=76%4@7:6F6H6<=%?I%’<;9K%

/bK,K/K% 368H:=%:<@?<9:9=6<=E%;:9869D6@=IA>%?8%A<=:H6>C%869D?<96%=?%9=4Z67?>;68%@?<@68<9K%

//K%N74<56%=76%?854<:G4=:?<S9%<4H6%?8%9AJ9=4<=:4>>C%4>=68%:=9%:;6<=:=C%:<%=76%@?HHA<:=CK%%

/QK%">>?B%=76%?854<:G4=:?<%=?%?D684=6%B:=7?A=%4%D>4<%=?%H:=:54=6%>?99%=?%?854<:G4=:?<4>%4996=9%;4H456;%JC%4%;:949=68%4<;%=?%6MD6;:=6%86@?F68C%I8?H%4%;:949=68K%%

/TK%N864=6%?8%DA8@7496%4<C%9AJ9:;:48C%@?8D?84=:?<%A<>699O% +41%H?86% =74<%‘]%:9%?B<6;%JC% =7:9%?854<:G4=:?<g%+J1%:<:=:4>%@4D:=4>:G4=:?<%JC%=7:9%?854<:G4=:?<%:9%>699%=74<%dhhhhhhhhh%?8%hhhh]%?I% =76% 86968F6% IA<;g% +@1% <?% 9=4II% H6HJ68% 749% 4<% ?B<6897:D% :<=6869=g% 4<;% +;1% =7686% :9% <?%8649?<4J>6%@74<@6%?I%869A>=4<=%;4H456%=?%=76%86DA=4=:?<%?I%=7:9%?854<:G4=:?<K%

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

""

Page 34: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 /b%2%3 4 5 6

$76%3869:;6<=%974>>%<?=%D68H:=%:<F69=H6<=9%=?%J6%H4<456;%:<%4%B4C%=74=%:9%:<@?<9:9=6<=%B:=7%=76%D8:H48C%?J\6@=:F69%?I%0%1 #%2’1/$"$/5%# (!’%!&’/$%"(!%32$’9/(,#-=%e)<968=%7686%B74=6F68%=76%J?48;S9%F4>A69%486%4J?A=%:<F69=H6<=%4<;%=76%J4>4<@6%?I%8:9Z%4<;%86=A8<K%’K5K%>?<5R=68H%D86968F4=:?<%4<;%9?>F6<@C%?I%?854<:G4=:?<%4996=9g%9=4J:>:=C%4<;%D86;:@=4J:>:=C%?I%86=A8<9g%H:=:54=:?<%?I%8:9Z9g%?D=:H:G4=:?<%?I%C:6>;%?<%9A8D>A9%IA<;9Kf%%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%9=4=6H6<=%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% 368H:=%:<F69=H6<=9%=?%J6%H4<456;%B:=7?A=%=76%4@=:F6%:<F?>F6H6<=%?I%B6>>RUA4>:I:6;%:<F69=H6<=%4;F:9?89%B:=7%4%D8?F6<%=84@Z%86@?8;E%B7?%486%:<;6D6<;6<=%?I%4<C%:<F69=H6<=%IA<;K%%

/K/K%368H:=%=76%4;F:9?8%=?%=4Z6%=:=>6%=?%4<C%4996=9K%%

/KQK%368H:=%=76%4;F:9?8%=?%B:=7;84B%4<C%IA<;9%I8?H%=76%4@@?A<=9%6M@6D=%=?%@?F68%D4CH6<=%?I%D86F:?A9>C%45866;%I669E%?8%4=%=76%?854<:G4=:?<S9%9D6@:I:@%;:86@=:?<K%%

’"

QK% 6F:4=6%I8?H%J69=%D84@=:@69%:<%:<F69=H6<=%H4<456H6<=%8649?<4J>C%;69:5<6;%=?%D8?F:;6%4%9=64;CE%>?<5R=68H%4<;%9A9=4:<4J>6%>6F6>%?I%I:<4<@:4>%869?A8@69%=?%=76%?854<:G4=:?<K%e$7:9%H:57=%86D>4@6%i%/%+4<;%i/K/%4<;%i/KQ1%:I%=76%N?>>656%749%:<R7?A96%6MD68=:96%=?%H4<456%:<F69=H6<=9%;:86@=>CKf%

TK% ’<5456%:<%e>:9=%7686%4<C%=CD69%?I%:<F69=H6<=9%=74=%486%@?HD>6=6>C%?IIR>:H:=9%j%6K5KE%H485:<%=84;:<5E%;68:F4=:F69E%H?8=54569E%I?86:5<%7?>;:<59E%864>%69=4=6%7?>;:<59E%6UA:=:69K%%$7:9%B:>>%J6%7:57>C%:<;:F:;A4>E%;6D6<;:<5%?<%=76%J?48;S9%8:9Z%4DD6=:=6K%%ek&$’O%$l’[’%"!’%’‘"c3P’[%&kPmK%"%J?48;%=74=%:9%@?<@68<6;%9?>6>C%B:=7%D86968F4=:?<%?I%@4D:=4>%B:>>%J6%HA@7%H?86%869=8:@=:F6%=74<%?<6%B7?96%D8:H48C%?J\6@=:F6%:9%58?B=7%4<;%4%7:5768%8:9Z%4DD6=:=6Kf%

WK% 368H:=%:<F69=H6<=9%=?%J6%6MD?96;%=?%5864=68%=74<%4%2(,%>6F6>%?I%8:9ZK%

WK/K%368H:=%=76%D?8=I?>:?%=?%F48C%I8?H%=76%I?>>?B:<5%@8:=68:4O%

% )<=6869=RJ648:<5%4@@?A<=9%B7:@7%;6H?<9=84=6%7:57%>6F6>%?I%96@A8:=C%4<;%@?<9:9=6<=%:<=6869=%86=A8<%

% *7686%96@A8:=C%4<;%:<=6869=%86=A8<%486%86>4=:F6>C%6UA4>%=?%?=768%:<9=:=A=:?<9%I4F?84J>6%@?<9:;684=:?<%?I%>?@4>%I:<4<@:4>%:<9=:=A=:?<9K%

e&$l’!%’‘"c3P’[%&#%N!)$’!)[%*l)Nl%c)Ll$%a’%V[’ Kf%

% X,%]%6UA:=C%4<;%T,%]%I:M6;%:<@?H6%+4=%H48Z6=%F4>A61%n-R/b%]K%%

% :F689:I:@4=:?<%B:=7:<%4996=%@4=65?8:69%=?%6<74<@6%D68I?8H4<@6%4<;%86;A@6%8:9ZK%%

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 )<F69=H6<=9% 5:7;8<O% ’PRX

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

"#

Page 35: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 //%2%3 4 5 6

% c4M:HAH%4F68456%J?<;%H4=A8:=C%?I%,%C6489K%%

% c4M:HAH%:<;:F:;A4>%J?<;%H4=A8:=C%?I%/b%C6489K%%

% k?%:<;:F:;A4>%IA<;%=?%6M@66;%T,%]%?I%=76%=?=4>%D?8=I?>:?K%%

% k?%:<;:F:;A4>%96@A8:=C%=?%6M@66;%,%]%?I%=76%=?=4>%D?8=I?>:?K%%

,K% 368H:=%:<F69=H6<=%;6@:9:?<9%=?%J6%H4;6%B:=7?A=%=76%6MD6@=6;%D?8=I?>:?%4@7:6F6H6<=E%4I=68%I669%4<;%6MD6<969E%?I%4%D86R=4M%4F68456%4<<A4>%86=A8<%?I%X%]%?F68%4%/b%C648%D68:?;E%4<;%4%<6=%86=A8<%?I%T%]%4J?F6%:<I>4=:?<K%eN74<56%=7:9%49%<6@69948C%=?%;69@8:J6%=76%J?48;S9%6MD6@=4=:?<9%4J?A=%86=A8<Kf%

,K/K%P6=%=76%J?48;%J6%B:=7?A=%4<<A4>%D68I?8H4<@6%:<I?8H4=:?<%B7:@7%D8?F:;69%4@=A4>%D68@6<=456%?I%86=A8<%?F68%4%8?>>:<5%/bRC648%D68:?;%:<%@?HD48:9?<%=?%:<;A9=8C%J6<@7H48Z9K%

,KQK%P6=%=76%J?48;%J6%B:=7?A=%e7?B%I86UA6<=>C%j%H?<=7>CE%UA48=68>Cof%9=4=6H6<=9%?I%D?8=I?>:?%=84<94@=:?<9%4<;%:<F69=6;%D?9:=:?<9%+JC%@?9=%4<;%H48Z6=1%

XK% 368H:=%:<F69=H6<=9%=74=%486%:<9AII:@:6<=>C%>:UA:;%=?%H66=%=76%?854<:G4=:?<S9%4<=:@:D4=6;%6MD6<;:=A869%B:=7?A=%:<@A88:<5%D6<4>=:69K%

YK% 368H:=%=76%:<F69=H6<=%?I%@497%4@@?A<=9%+?8%?D684=:<5%@4D:=4>1%:<%4<C=7:<5%?=768%=74<%7:57%:<=6869=%94F:<59%?8%# )N%)<9A86;-!6DA8@7496%"5866H6<=9K% %

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

"$

Page 36: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 /Q%2%3 4 5 6

*:=7%869D6@=%=?%6HD>?CH6<=E%@?HD6<94=:?<%4<;%J6<6I:=9%=?%6HD>?C669E%@?<9A>=4<=9E%:<;6D6<;6<=%@?<=84@=?89%4<;%F?>A<=6689E%=76%3869:;6<=%974>>%<?=%@4A96%?8%4>>?B%\6?D48;C%=?%=76%N?>>656S9%I:9@4>%:<=658:=C%?8%DAJ>:@%:H456K%%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%9=4=6H6<=%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% N74<56%7:9-768%?B<%@?HD6<94=:?<%4<;%J6<6I:=9K%

QK% ’9=4J>:97%@A886<=%@?HD6<94=:?<%4<;%J6<6I:=9%=74=%;6F:4=6%H4=68:4>>C%I8?H%=76%56?584D7:@%?8%D8?I699:?<4>%H48Z6=%I?8%=76%9Z:>>9%6HD>?C6;K%

QK/K%’9=4J>:97%?8%@74<56%94>48C%9@76;A>69%4<;%D>4<9%D8:?8%=?%H?<:=?8:<5%=?%6<9A86%@?HD>:4<@6%B:=7%=76%@8:=68:4%:<%=7:9%D?>:@CK%

TK% ’9=4J>:97%?8%@74<56%@?HD6<94=:?<%4<;%J6<6I:=9%=74=%;6F:4=6%I8?H%=76%@A886<=%@?>>6@=:F6%J4854:<:<5%45866H6<=9K%

TK/K%#:<4>:G6%<65?=:4=6;%@?>>6@=:F6%45866H6<=9%B7:@7%6M@66;%D484H6=689%69=4J>:976;%JC%=76%J?48;%?I%=8A9=669K%+4<<A4>>Co1%

TKQK%!4=:IC%@?>>6@=:F6%45866H6<=9%D8:?8%=?%H?<:=?8:<5%=?%6<9A86%@?HD>:4<@6%B:=7%=76%86>6F4<=%@8:=68:4%:<%=7:9%D?>:@CK%

WK% N864=6%?J>:54=:?<9%?F68%4%>?<568%=68H%=74<%86F6<A69%@4<%J6%94I6>C%D8?\6@=6;K%?8%B:=7?A=%86548;%=?%>?99%?I%86F6<A6K%e>?’!(#$*’@(,’ "’+(/’, #-(.#’/$9%/&’#(’2(""’()’/$5$!.$7’& ))$/$!#’#-%!’#-$’

) /"#’1%/#’()’#-$’1(2 0:’"#%#$6$!#Af%

,K% ’9=4J>:97%?8%@74<56%D6<9:?<%J6<6I:=9%9A@7%=74=%=76%D8?F:9:?<9O%

% )<@A8%A<IA<;6;%>:4J:>:=:69%?8%@?HH:=%=76%?854<:G4=:?<%:<%4<C%B4C%=?%J6<6I:=9%B7:@7%:<@A8%A<D86;:@=4J>6%IA=A86%@?9=9g%

% 38?F:;6%>699%=74<%9?H6%J49:@%>6F6>%?I%J6<6I:=9%=?%4>>%IA>>R=:H6%6HD>?C669g%e1("" 32$’%&& # (!O%^#-(.9-’& ))$/$!# %2’3$!$) #"’#(’$!0(./%9$’2(!9$5 #:’%/$’!(#’1/(- 3 #$&7f%

% L84<=%6HD>?C669%I8:<56%J6<6I:=9%<?=%4DD8?F6;%JC%=76%J?48;K%e>?’!(#$*’B)’#-$’3(%/&’1.#"’

%!’%0# (!’())C2 6 #"’#(’#-$’D/$" &$!#4’ #’ "’%.#(6%# 0%22:’%’&$0 " (!’#-%#’#-$’3(%/&’/$"$/5$"’)(/’ #"$2)=E

% (:?>4=6%9=4=6%?8%I6;684>%>4BK%e>?’!(#$*’F-$’G(%/&’-%"’1.#’.!2%,).2’%0# (!"4’&$0 " (!"’())C

2 6 #"’#(’#-$’D/$" &$!#’ !’#-$’H$!$/%2’I8$0.# 5$’J(!"#/% !#’"(’ #’ "’!(#’!$0$""%/:’#(’"#%#$’#- "’ !’%’

2(,$/’2$5$2’1(2 0:Kf%

XK% 38?H:96%?8%:HD>C%D68H4<6<=%?8%5A484<=66;%6HD>?CH6<=K%

XK/K%’HD>?C%4;H:<:9=84=?89%A<;68%4%@?<=84@=%:<%6M@699%?I%?<6%C648S9%;A84=:?<K%

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 N?HD6<94=:?<%4<;%a6<6I:=9% 5:7;8<O% ’PRY

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

"%

Page 37: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 /T%2%3 4 5 6

$76%3869:;6<=%974>>%<?=%D68H:=%=76%J?48;%=?%J6%A<:<I?8H6;%?8%A<9ADD?8=6;%:<%:=9%B?8ZK%%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%9=4=6H6<=%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% *:=77?>;E%:HD6;6E%?8%@?<I?A<;%:<I?8H4=:?<%86>6F4<=%=?%=76%J?48;S9%:<I?8H6;%4@@?HD>:97H6<=%?I%:=9%\?JK%

/K/K%">>?B%=76%J?48;%=?%J6%B:=7?A=%=:H6>C%;6@:9:?<%:<I?8H4=:?<%=?%9ADD?8=%:<I?8H6;%J?48;%@7?:@69E%:<@>A;:<5%865A>48%AD;4=69%?<%=76%9=4=A9%?I%=76%J?48;S9%5?F68<4<@6%6MD6<;:=A869E%86>6F4<=%6<F:8?<H6<=4>%9@4<<:<5%;4=4E%4%86D8696<=4=:F6%84<56%?I%9=4II%4<;%6M=68<4>%D?:<=9%?I%F:6BE%4 8:9Z%499699H6<=%:<@>A;:<5%D8?J4J:>:=C%4<;%:HD4@=%?I%8:9Z9E%4<;%4>=68<4=:F6%@7?:@69%B:=7%=76:8%869D6@=:F6%:HD>:@4=:?<9K%

/KQK%k65>6@=%=?%9AJH:=%=:H6>C%H?<:=?8:<5%;4=4%:<@>A;:<5%:<=68D86=4=:?<9%?I%J?48;%D?>:@:69%=74=%D8?F:;6%=76%?J968F4J>6%H6=8:@9%?8%@?<;:=:?<9%=74=%B?A>;%;6H?<9=84=6%@?HD>:4<@6E%84=:?<4>6%I?8%B7C%=76%:<=68D86=4=:?<9%486%8649?<4J>6%4<;%6F:;6<@6%?I%@?HD>:4<@6K%%

/KTK%P6=%=76%J?48;%J6%A<4B486%?I%4<C%4@=A4>%?8%4<=:@:D4=6;%<?<R@?HD>:4<@6%B:=7%4<C%’<;9%?8%’M6@A=:F6%P:H:=4=:?<9%D?>:@CE%86548;>699%?I%=76%J?48;S9%H?<:=?8:<5%9@76;A>6K%%

/KWK%P6=%=76%J?48;%J6%A<4B486%?I%4<C%:<@:;6<=4>%:<I?8H4=:?<%:=%86UA:869E%:<@>A;:<5%

% 4<=:@:D4=6;%H6;:4%@?F68456% % 4@=A4>%?8%4<=:@:D4=6;%>654>%4@=:?<9% % H4=68:4>%?8%DAJ>:@>C%F:9:J>6%:<=68<4>%@74<569%?8%6F6<=9E%:<@>A;:<5%@74<569%:<%6M6@A=:F6%

D689?<<6>K% % "<=:@:D4=6;%<?<@?HD>:4<@6%B:=7%I6;684>%>4BE%9=4=6%>4B%?8%>?@4>%?8;:<4<@6%B:=7:<%‘%

=:H6%?8%864>:G4=:?<%?I%=76%D?99:J:>:=CK% % pA48=68>C%I:<4<@:4>%9=4=6H6<=% % "<<A4>%C648R6<;%I:<4<@:4>%86D?8=K% % <4H69%4<;%=:=>69%?I%9=4II%6M6@A=:F6%I4H:>:48%B:=7%J?48;%4<;%D869:;6<=:4>%H4==689%4<;%

D8?@69969%%/K,K%">>?B%=76%J?48;%=?%J6%A<4B486%=74=E%:<%=76%3869:;6<=S9%?D:<:?<E%=76%J?48;%:9%<?=%:<%

@?HD>:4<@6%B:=7%:=9%?B<%D?>:@:69%?<%L?F68<4<@6%38?@699%4<;%a?48;Rc4<456H6<=% 6>654=:?<E%D48=:@A>48>C%:<%=76%@496%?I%J?48;%J674F:?A8%B7:@7%:9%;6=8:H6<=4>%=?%=76%B?8Z%86>4=:?<97:D%J6=B66<%=76%J?48;%4<;%=76%3869:;6<=K%

/KXK%38696<=%:<I?8H4=:?<%:<%A<<6@69948:>C%@?HD>6M%?8%>6<5=7C%I?8HE%?8%:<%4%I?8H%=74=%;?69%<?=%@>648>C%;:II686<=:4=6%4H?<5%H?<:=?8:<5E%;6@:9:?<%D86D484=:?<E%4<;%56<684>%:<@:;6<=4>%?8%?=768%:<I?8H4=:?<K%%

QK% ">>?B%=76%J?48;%=?%J6%B:=7?A=%8649?<4J>6%4;H:<:9=84=:F6%9ADD?8=%I?8%J?48;%4@=:F:=:69K%

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 N?HHA<:@4=:?<%q%[ADD?8=%=?%=76%a?48; 5:7;8<O% ’PR.

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

"&

Page 38: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 /W%2%3 4 5 6

QK/K%">>?B%=76%J?48;%=?%J6%B:=7?A=%4%B?8Z4J>6E%A968RI8:6<;>C%H6@74<:9H%I?8%?II:@:4>%J?48;E%?II:@68%?8%J?48;%@?HH:==66%@?HHA<:@4=:?<9K%

TK% )HD6;6%=76%J?48;S9%7?>:9HE%H:986D8696<=%:=9%D8?@69969%4<;%8?>6E%?8%:HD6;6%:=9%>4BIA>%?J>:54=:?<9K%

TK/K% 64>%B:=7%=76%J?48;%:<%4%B4C%=74=%I4F?A89%?8%D8:F:>6569%@68=4:<%J?48;%H6HJ689%?F68%?=7689E%6M@6D=%B76<%+41%IA>I:>>:<5%:<;:F:;A4>%86UA69=9%I?8%:<I?8H4=:?<%?8%+J1%869D?<;:<5%=?%?II:@689%?8%@?HH:==669%;A>C%@74856;%JC%=76%J?48;K%

TKQK%k65>6@=%=?%9ADD>C%I?8%=76%!6UA:86;%"DD8?F4>9%456<;4%4>>%:=6H9%;6>654=6;%=?%=76%3869:;6<=E%C6=%86UA:86;%JC%>4BE%865A>4=:?<%?8%@?<=84@=%=?%J6%J?48;R4DD8?F6;E%4>?<5%B:=7%=76%4DD>:@4J>6%H?<:=?8:<5%:<I?8H4=:?<K

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

"’

Page 39: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 /,%2%3 4 5 6

$76%3869:;6<=%974>>%<?=%D68H:=%4<%?854<:G4=:?<4>%@A>=A86%=74=%>4@Z9%4%7:57%;65866%?I%:<=658:=C%4=%4>>%>6F6>9%?I%=76%?854<:G4=:?<K%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% &D684=6%B:=7?A=%4<%6<I?8@6;%:<=68<4>%N?;6%?I%N?<;A@=E%?I%B7:@7%4>>%6HD>?C669%486%H4;6%4B486E%=74=%@>648>C%?A=>:<69%=76%8A>69%?I%6MD6@=6;%J674F:?A8%I?8%6HD>?C669K%

QK% 368H:=%6HD>?C669%4<;%?=7689%=?%J6%B:=7?A=%4%H6@74<:9H%I?8%@?<I:;6<=:4>%86D?8=:<5%?I%4>>656;%?8%9A9D6@=6;%:HD8?D68%4@=:F:=:69E%B:=7?A=%I648%?I%86=4>:4=:?<K%%

ek&$’O%c4<C%J?48;9%B:97%=?%:<@>A;6%?<>C%i%Q%4<;%QK/K%$76%IA8=768%;6=4:>%D?>:@C%:=6H9%+iQKQ%=?%iQKY1%486%D8?F:;6;%49%4%5A:;6%I?8%=7?96%B7?%I66>%:=%<6@69948C%=?%IA8=768%:<=68D86=%J6I?86%5:F:<5%=?%=76%3869:;6<=%=?%:<=68D86=K%% ?<S=%?8;:<48:>C%D8?F:;6%=76%;6=4:>9%A<>699%86UA69=6;%=?%;?%9?Kf%

QK/K% 368H:=%=76%86D?8=:<5%D8?@699%=?%6M@>A;6%4%H6@74<:9H%I?8%@?<I:;6<=:4>%86D?8=:<5%?I%:<@:;6<=9%=74=%:HD>:@4=6%=76%3869:;6<=%e=?%=76%J?48;%@74:8f%?8%e=?%4<%:<;6D6<;6<=%D689?<%?8%456<@C%=74=%86D?8=9%;:86@=>C%=?%=76%J?48;fK%

QKQK% 368H:=%6HD>?C669%=?%J6%B:=7?A=%4%@>648%D8?@699%=?%865:9=68%4%@?<@68<E%?8%B:=7?A=%4%I4:8%4<;%4<?<CH?A9%D8?@699%I?8%86D?8=:<5%4<;%:<F69=:54=:<5%4>>654=:?<9%?I%9A9D6@=6;%:HD8?D68%4@=:F:=:69E%B7:@7%:<@>A;6%JA=%486%<?=%>:H:=6;%=?O%I:<4<@:4>%:8865A>48:=:69g%;:97?<69=E%;6@6:=IA>E%I84A;A>6<=%?8%@8:H:<4>%4@=9g%4<;%?=768%F:?>4=:?<9%?I%>65:9>4=:?<K%

QKTK% #?8%=7?96%:<@:;6<=9%=74=%;?%<?=%:HD>:@4=6%=76%3869:;6<=E%D68H:=%=7686%=?%J6%4%@?<I>:@=%?8%;:86@=%86D?8=:<5%86>4=:?<97:D%J6=B66<%=76%D689?<%@?<;A@=:<5%=76%:<F69=:54=:?<%4<;%=76%D689?<%4>>656;%=?%74F6%6<5456;%:<%:HD8?D68%4@=:F:=:69K%

QKWK% 368H:=%;:9@>?9A86%?I%=76%:;6<=:=C%?I%B7:9=>6%J>?B689%?8%=76%9AJ\6@=%H4==68%?I%=76%:<F69=:54=:?<%A<>699%:=%:9%<6@69948C%=?%;?%9?%=?%@?<;A@=%4%@?HD8676<9:F6%:<F69=:54=:?<E%?8%86UA:86;%JC%>4B%?8%?=768%J?48;%D?>:@CK%

QK,K% 368H:=%6HD>?C669%=?%J6%A<4B486%=74=%4<C%4>>654=:?<9%=74=%D8?F6%<?=%=?%J6%9AJ9=4<=:4=6;%4<;%B7:@7%D8?F6%=?%74F6%J66<%H4;6%H4>:@:?A9>C%?8%Z<?B:<5>C%=?%J6%I4>96%974>>%J6%F:6B6;%49%4%968:?A9%?II6<@6%4<;%974>>%J6%9AJ\6@=%=?%;:9@:D>:<48C%4@=:?<K%

QKXK% 368H:=%4<C%6HD>?C66%=?%J6%4;F6896>C%4II6@=6;%J6@4A96%=76%6HD>?C66%86IA969%=?%@488C%?A=%4%;:86@=:F6%B7:@7%B?A>;%869A>=%:<%4<%:HD8?D68%4@=:F:=CK%

QKYK% ">>?B%=76%J?48;%=?%J6%A<:<I?8H6;%4J?A=%4<C%D?=6<=:4>%86DA=4=:?<%6MD?9A86%86>4=6;%=?%=7696%H4==689K%

ek&$’O%$76%I?>>?B:<5%486%?<>C%86>6F4<=%:I%869648@7%?@@A89%:<%N?>>656K%

TK% N4A96%?8%4>>?B%869648@7%:<F?>F:<5%6:=768%7AH4<%D48=:@:D4<=9%?8%4<:H4>9%=74=%;?69%<?=%4;7686%=?%56<684>>C%4@@6D=6;%6=7:@4>%D8:<@:D>69K%%

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 &854<:G4=:?<%NA>=A86 5:7;8<O% ’PR0

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

"(

Page 40: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 /X%2%3 4 5 6

TK/K% 368H:=%D?=6<=:4>%869648@7689%=?%J6%B:=7?A=%864;:>C%4F4:>4J>6%5A:;6>:<69%I?8%6=7:@4>%869648@7%4<;%499:9=4<@6%:<%:;6<=:IC:<5%4<;%9?>F:<5%6=7:@4>%D8?J>6H9K%

TKQK% 368H:=%869648@7%=74=%749%<?=%J66<%9AJ\6@=%=?%:<;6D6<;6<=%6=7:@4>%86F:6BK

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

#)

Page 41: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 /Y%2%3 4 5 6

$76%3869:;6<=%974>>%<?=%4>>?B%@?<;:=:?<9%=74=%A<<6@69948:>C%869=8:@=%9=A;6<=%?8%D?=6<=:4>%9=A;6<=%4@@699%=?%6;A@4=:?<K%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%9=4=6H6<=%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% N4A96%?8%4>>?B%=76%96==:<5%?I%=A:=:?<%I669%=74=%486%<?=%J496;%?<%=76%<4=A86%4<;%<AHJ68%?I%:<9=8A@=:?<4>%7?A89E%86UA:86H6<=9%I?8%9D6@:4>%968F:@69E%86UA:86H6<=9%I?8%=?=4>%@?9=%86@?F68C%?8%4%@?<=8:JA=:?<%=?%=76%?F68764;%?I%=76%N?>>656E%4<;%4%8649?<4J>6%J4>4<@6%?I%I:9@4>%869D?<9:J:>:=C%J6=B66<%9=A;6<=9%4<;%=4MD4C689E%B:=7:<%=76%@?<=6M=%?I%I4@:>:=4=:<5%4@@699%=?%D8?584H9%4<;%@?A8969K%

QK% ">>?B%9=A;6<=9%4<;%D?=6<=:4>%9=A;6<=9%=?%J6%A<:<I?8H6;%?I%D>4<9%I?8%IA=A86%=A:=:?<%I66%:<@864969%=?%4>>?B%9=A;6<=9%:<%@86;:=%D8?584H9%=?%;?%>?<5R=68H%I:<4<@:4>%D>4<<:<5K%

TK% a6%B:=7?A=%4%@?<9:9=6<=%H6=7?;%=74=%D8?F:;69%I?8%4DD8?D8:4=6%86@?5<:=:?<%?I%>648<:<5%?A=9:;6%?I%N?>>656%D8?584H9K%%

WK% 368H:=%4@4;6H:@4>>C%UA4>:I:6;%9=A;6<=9%B:=7%;:94J:>:=:69%?8%:<9AII:@:6<=%6@?<?H:@%H64<9%=?%J6%B:=7?A=%4%9ADD?8=:F6%6<F:8?<H6<=%=74=E%B:=7?A=%@?HD8?H:9:<5%4@4;6H:@%9=4<;48;9E%B7686F68%D?99:J>6%6<4J>69%=76H%=?%@?HD>6=6%=76:8%D8?584H9K%%

,K% 368H:=%4@=:F:=:69E%@:8@AH9=4<@69E%?8%;6@:9:?<9%=74=%\6?D48;:G6%=76%4J:>:=C%?I%9=A;6<=9%=?%6<8?>>%:<%4F4:>4J>6%@?A8969%?8%=?%?J=4:<%=76%:<9=8A@=:?<4>%7?A89%86UA:86;%=?%@?HD>6=6%=76:8%@?A896%?I%9=A;:69K

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 "@@699%=?%’;A@4=:?< 5:7;8<O% ’PR/b

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

#

Page 42: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 /.%2%3 4 5 6

eV96%?<>C%:I%=76%N?>>656%:9%:<F?>F6;%:<%4B48;:<5%584<=9%?8%@?<=84@=9f%

$76%3869:;6<=%974>>%<?=%6<=68%:<=?%4<C%584<=%?8%@?<=84@=%4884<56H6<=9%=74=%;?%<?=%6HD749:G6%=76%D8?;A@=:?<%?I%’<;9%4<;%=76%4F?:;4<@6%?I%A<4@@6D=4J>6%H64<9K%%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%9=4=6H6<=%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% ’<=68%:<=?%4884<56H6<=9%=74=%;?%<?=%D8?7:J:=%H6=7?;9%?8%4@=:F:=:69%B7:@7%@?A>;%869A>=%:<%=76%IA<;9%J6:<5%A96;%:<%:HD8A;6<=E%A<>4BIA>%?8%A<6=7:@4>%B4C9K%

QK% ’<=68%:<=?%4884<56H6<=9%=74=%;?%<?=%499699%4<;%@?<9:;68%4<%4DD>:@4<=S9%@4D4J:>:=C%=?%D8?;A@6%4DD8?D8:4=6>C%=4856=6;E%6II:@:6<=%869A>=9K%

TK% 368H:=%J:496;%D8?@69969%I?8%86F:6B:<5%584<=%4DD>:@4=:?<9%4<;%4B48;:<5%584<=9K

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 ’<;9%#?@A9%?I%L84<=9%?8%N?<=84@=9 5:7;8<O% ’PR//

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

#!

Page 43: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 /0%2%3 4 5 6

$76%3869:;6<=%974>>%<?=%4>>?B%;6F6>?DH6<=%?I%=76%@4HDA9%?8%?=768%N?>>656%>4<;9%:<%4%H4<<68%=74=%:9%:<@?<9:9=6<=%B:=7%=76%@?86%JA9:<699%?I%=76%N?>>656E%6<F:8?<H6<=4>>C%:8869D?<9:J>6E%469=76=:@4>>C%;:9D>649:<5E%?8%=74=%;?69%<?=%H4Z6%=76%H?9=%6II6@=:F6%A96%?I%>4<;K%%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%9=4=6H6<=%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% ">>?B%=76%N?>>656%=?%J6%B:=7?A=%4%>?<5R=68H%>4<;%A96%D>4<%I?8%IA=A86%;6F6>?DH6<=%=74=%B:>>%4F?:;%:<I849=8A@=A86%86;A<;4<@C%4<;%86;6F6>?DH6<=%@?9=9K%

QK% 368H:=%\?:<=%F6<=A869%?8%D48=<6897:D9%=74=%;?%<?=%D8?F:;6%I?8%;69:5<%4<;%@?<9=8A@=:?<%9=4<;48;9%@?<9:9=6<=%B:=7%?F684>>%@4HDA9%;69:5<K%%

TK% 368H:=%;6F6>?DH6<=%=74=%;?69%<?=%@?<9:;68%7?B%=?%D86968F6%=76%<4=A84>%>4<;9@4D6K%

WK% 368H:=%;6F6>?DH6<=%=74=%;?69%<?=%H:<:H:G6%4;F6896%6<F:8?<H6<=4>%:HD4@=9%=?%=76%6M=6<=%8649?<4J>C%D84@=:@4J>6E%

,K% 368H:=%<6B%@?<9=8A@=:?<%?8%86@?<9=8A@=:?<%=74=%:9%<?=%6<685C%6II:@:6<=K%

XK% 368H:=%D48Z:<5%=?%I?8H%=76%D86;?H:<4<=%F:6B%?I%=76%@4HDA9K%

YK% 368H:=%<6B%;6F6>?DH6<=%=74=%;?69%<?=%H66=%4=%>649=%?<6%?I%=76%I?>>?B:<5%@8:=68:4O%

% 38?F:9:?<%?I%6<74<@6;%>648<:<5%4<;%4<@:>>48C%9D4@6%@?<9:9=6<=%B:=7%’<;9%4@7:6F6H6<=K%

% ’M=6<;:<5%=76%N?>>656S9%4>>:4<@69%B:=7%JA9:<699%4<;%:<;A9=8C%

% %N864=:?<%?I%?DD?8=A<:=C%=?%56<684=6%<6B%86F6<A6%9=864H9K%

% "<%?DD?8=A<:=C%=?%;:II686<=:4=6%=76%N?>>656S9%>648<:<5%6<F:8?<H6<=K%

% 3?9:=:?<:<5%=76%N?>>656%49%4%>64;68%:<%<6B%D8?584H9%=4856=6;%4=%IA=A86%H48Z6=%?DD?8=A<:=:69K%

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 P4<;%V96 5:7;8<O% ’PR/Q

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

#"

Page 44: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%#&!%!’()’*%+,-.-/01 Qb%2%3 4 5 6

*76<%6<545:<5%:<%6<=86D86<6A8:4>%4@=:F:=C%=?%56<684=6%:<@?H6E%=76%3869:;6<=%974>>%<?=%6<5456%:<%9A@7%4@=:F:=C%=74=%:9%:<@?<9:9=6<=%B:=7%@?<=8:JA=:?<%=?%=76%?F684>>%’<;9%?I%=76%N?>>656K%

#A8=768E%B:=7?A=%>:H:=:<5%=76%9@?D6%?I%=76%4J?F6%9=4=6H6<=%JC%=76%I?>>?B:<5%>:9=E%=76%3869:;6<=%974>>%<?=O%

/K% ’<5456%:<%6<=86D86<6A8:4>%4@=:F:=:69%I?8%B7:@7%=76%IA>>%@?9=%?I%=76%4@=:F:=C%:9%<?=%86@?5<:G6;K%

QK% ’<5456%:<%6<=86D86<6A8:4>%4@=:F:=C%=74=%;?69%<?=%H66=%4=%>649=%?<6%?I%=76%I?>>?B:<5%@8:=68:4O%ek?=6O%=7:9%>:9=%:9%=?=4>>C%@A9=?H:G4J>6%;6D6<;:<5%?<%=76%J?48;S9%F4>A69f%

% :86@=>C%@?<=8:JA=69%=?%4@7:6F6H6<=%?I%’<;9%

% N?<=8:JA=69%=?%:HD8?F6;%4>>:4<@69%B:=7%:<;A9=8C%?8%JA9:<699%

% ’<74<@69%>648<:<5%?DD?8=A<:=:69%

% 3?9:=:?<9%=76%@?>>656%49%4%>64;68%:<%48649%4<=:@:D4=6;%=?%J6%IA=A86%H48Z6=%?DD?8=A<:=:69%

% 38?F:;69%?DD?8=A<:=C%=?%56<684=6%<6B%86F6<A6%9=864H9%=74=%;?%<?=%;:9=84@=%I8?H%4@@?HD>:97H6<=%?I%’<;9%

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 ’<=86D86<6A8:4>%"@=:F:=C 5:7;8<O% ’PR/T

!6=8 #>><0?8@9

+01234 %4>89%%’M6@A=:F6%P:H:=4=:?<9% !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

##

Page 45: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"!#$ %&’ %()*

+,- ./01#23 42556"6 72/89 2: +8!#$66#

44- ;/3 <=65/3’ <86#>963$ /39 4?,

@A7.?4+- <82B2#69 86C>#>23# :28 D2C683/306 <25>0>6#

!"#$%&’" $!

+=># E6E2 6FB5/>3# #!""6#$69 86C>#>23# :28 $=6 72/89G# D2C683/306 <8206## B25>0>6#H I3 $=6 B8>5

J281#=2B 86B28$ I #!""6#$69 $=/$ / 86C>6J 2: D2C683/306 <8206## B25>0>6# J2!59 />E $2-

?9>$ 6F>#$>3" B25>0>6# $2 63#!86 023#>#$630K J>$= B8>30>B56#

L/16 0=/3"6# $2 B25>0>6# $2 63#!86 02EB/$>M>5>$K

423#>968 $=6 3669 :28 2$=68 B2##>M56 B25>0>6#

+=6#6 =/C6 M663 023#>96869 >3 $=6 #!""6#$69 B25>0>6#H

’$($# ’$% !)

I !#69 $=6 #/E6 02528!029>3" /# !#69 :28 $=6 ?F60!$>C6 N>E>$/$>23#H

# J>$= $=6 ?F60!$>C6 N>E>$/$>23#’ I #$/8$69 $=6 B25>0K 86C>6J J>$= $=6 #6$ 2: $6EB5/$6 B25>0>6# :28 $=6

42556"6 023$6F$H "/>3’ /# J>$= $=6 ?F60!$>C6 N>E>$/$>23# <25>0>6#’ 32$ 6C68K B25>0K :82E $=6 $6EB5/$6 J>55

/BB5K $2 $=6 ./01#23 42556"6 023$6F$O 36>$=68 J>55 6C68K B25>0K #$/$6E63$# >3 / B25>0KH P2J6C68’ I =/C6

>305!969 /55 B25>0>6# :82E $=6 42556"6 $6EB5/$6 :28 K2!8 023#>968/$>23H

+6EB5/$6 B25>0K 023$63$ ># B8>3$69 >3 "8663 =>"=5>"=$69 $6F$H

75!6 =>"=5>"=$69 $6F$ >39>0/$6# / B25>0K #$/$6E63$ 28 /99>$>23/5 B/8$ 2: / B25>0K #$/$6E63$ :82E

$6EB5/$6 B25>0>6# $=/$ #66E /BB82B8>/$6 $2 $=6 ./01#23 42556"6 023$6F$ /39 J=>0= I J2!59

#!""6#$ K2! 023#>968 >305!9>3"H

+=6 M2/89G# 0!8863$ B25>0K #$/$6E63$# /86 >3028B28/$69 >3$2 $=6 #!""6#$69 86C>#>23# /39 /BB6/8

>3 #/5E23 =>"=5>"=$69 $6F$H @/5E23 =>"=5>"=$69 $6F$ J>$= 92!M56 #$8>16$=82!"= >39>0/$6# /

#!""6#$69 9656$>23 2: / 0!8863$ B25>0K #$/$6E63$ 28 B/8$ $=6862:H ?FB5/3/$>23# /86 >305!969 >3

$=6 36F$ #60$>23H

+6F$ J>$=2!$ =>"=5>"=$>3" >39>0/$6# B25>0K #$/$6E63$# J=>0= 6F>#$ >3 M2$= $=6 M2/89G# 0!8863$

B25>0>6# /39 2!8 $6EB5/$6 B25>0>6#H

)*!*#+( ’$,,*!"-

Q2! J>55 32$6 $=/$ $=686 /86 #6C68/5 36J #!""6#$69 B25>0>6#H @2E6 86#!5$ :82E =/C>3" / B25>0K :28 6/0=

M2/89 2::>068 B2#>$>23O 2$=68# 86#!5$ :82E B25>0>6# :28 02EE>$$66 $68E# 2: 86:686306O #$>55 2$=68# /86 $2

B82C>96 B25>0>6# J=>0= 02C68 /3K R2M# $=/$ $=6 M2/89 =/# 16B$ :28 >$#65: 28 $2 86#B239 #>$!/$>23#

#!""6#$69 >3 0!8863$ B25>0>6#H

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

#$

Page 46: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

% S < / " 6

’$,,*!"- #*(+"*% "$ -.*’ / ’ )$0*#!+!’* .#$’*-- .$( ’ *-

D2C683/306 42EE>$E63$- +=6 =>"=6#$ 56C65 B25>0K >3 $=6 D2C683/306 <8206## B25>0K 0/$6"28K #$/$6# $=6

B!8B2#6 2: $=6 M2/89H I$ ># / #$/$6E63$ J=>0= 023$/>3# /55 3!EM6869 B25>0>6# >3 $=6 0/$6"28K M!$ 926#

32$ >$#65: =/C6 52J68 56C65 B25>0K >$6E#H

+=6 B25>0>6# >3 $=># 0/$6"28K 96#08>M6 $=6 #$/39/89# 2: "82!B /39 >39>C>9!/5 M6=/C>28 $2 J=>0= $=6 M2/89

/"866# $2 =259 >$#65: >3 >$# J281 $2J/89# $=># B!8B2#6H +=6 0!8863$ M2/89 B25>0K 23 D2C683/306

42EE>$E63$ >305!96# T ! "##$%&"!#’ ( )* )*’ +$!,) )-) $! "!& +$..-! )/ +$00’1’ 2#) $3 4 #* 1"!5

J=>0= >: >$ J686 $2 M6 >305!969 >3 /3K B25>0K’ J2!59 M6 >3 $=6 B25>0K 23 D2C683>3" @$K56H +=6 0!8863$

52J68 56C65 B25>0K >$6E# /86 M6$$68 B5/069 >3 $=6 B25>0>6# 23 D2C683>3" @$K56’ $=6 4296 2: ?$=>0# 28’ 5>16

#$/$6E63$ UV J=>0= 86:68# $2 $=6 42556"6G# 2B68/$>23#’ 923G$ M6523" >3 $=># B25>0K 0/$6"28KH

D<! )- D2C683>3" @$K56-

7K #$/$>3" $=/$ $=6 M2/89 J>55 "2C683 5/J:!55K >3 $=6 E/>3 B25>0K #$/$6E63$’ >$ ># 32$ 3606##/8K $2 #$/$6

T’6’#-) !1 )*’ 7$(’%, &’, 1!")’& 8/ )*’ 9’&’%"0 :$;’%!.’!) "!& 4 #* 1"! ,)")-)’,W 28 T ! "##$%&"!#’

( )* )*’ +$!,) )-) $! "!& +$..-! )/ +$00’1’ 2#) $3 4 #* 1"!5 /# >$ 926# >3 $=6 0!8863$ B25>0K 23

D2C683/306 42EE>$E63$H +=/$ M6>3" #/>9’ >: K2! J>#= 166B $=6#6 #B60>:>0 #$/$6E63$# $=6K #=2!59 M6

52J68 56C65 3!EM6869 B25>0K >$6E#H

I /E #!""6#$>3" $=/$ K2! /99 B25>0K >$6E UV J=>0= ># B/8$ 2: 2!8 $6EB5/$6 /39 >3028B28/$6# #6C68/5

C/5!6# $=/$ K2! #$/$6 >3 2$=68 B25>0>6#H

I /E /5#2 #!""6#$>3" $=6 :2552J>3" /# E286 /BB82B8>/$6 B5/06E63$# 2: B25>0K >$6E# >3 K2!8 0!8863$ B25>0K-

<25>0K >$6E UX $2 $=6 B25>0K 23 4296 2: 4239!0$ YD<!)(Z

<25>0K >$6E# U& /39 U[ $2 $=6 B25>0K 23 72/89 <5/33>3" 4K056 /39 "639/ 423$825 YD<!VZ

<25>0K >$6E# U* /39 U)( $2 $=6 #!""6#$69 B25>0K 23 @B60>/5 \!56# 2: ,8968 YD<!)XZ

D<!%- 72/89 .2M 423$8>M!$>23#-

I =/C6 !#69 $=6 B25>0K $>$56 T72/89 .2M 423$8>M!$>23#W J=>0= ># $=6 B25>0KG# 023$6EB28/8K 3/E6H

P2J6C68’ >: K2! B86:68 T72/89 .2M ;6#08>B$>23W J=>0= ># $=6 $>$56 $=/$ .2=3 4/8C68 28>">3/55K !#69 >3

T\6>3C63$>3" Q2!8 72/89W’ >$ ># K2!8 0=2>06H +=6 >96/ 2: 023$8>M!$>23# ># $=/$ >$ 96#08>M6# $=6 86#!5$ /39

32$ $=6 8256H I$ E/$$68# E286 $=/$ $=6 B25>0K #$/$6E63$# /86 E2965 023#>#$63$H

] # /3 /#>96’ K2! J>55 32$6 $=/$ T72/89!<86#>963$ ;656"/$>23W =>"=5>"=$69 >3 M5!6 $2 #!""6#$ /3

/5$683/$>C6 $>$56 :28 $=6 B25>0K 0/$6"28K J=>0= ># 0!8863$5K T72/89!@$/:: \65/$>23#WH +=6 B25>0K 0/$6"28K >#

$=6 M2/89G# 9>860$>23# $2 >$#65: /M2!$ =2J >$ J>55 9656"/$6 >$# /!$=28>$K /39 86^!>869 /002!3$/M>5>$K :28 >$#

!#6H_

I /E #!""6#$>3" $=6 :2552J>3" /# E286 /BB82B8>/$6 B5/06E63$# 2: 0!8863$ B25>0K >$6E#-

<25>0K >$6E U% /39 U)X $2 $=6 B25>0K 23 72/89 4296 2: 4239!0$ YD<!)(ZH

<25>0K >$6E# U‘ /39 U)% M6523" >3 $=6 72/89!@$/:: \65/$>23# Y28 72/89!<86#>963$ ;656"/$>23Z

B25>0K 0/$6"28KH

<25>0K >$6E U& ># :2!39 >3 $=6 B25>0K 23 72/89 /39 42EE>$$66 ?FB63#6# YD<!*ZH

<25>0K >$6E U)( ># :2!39 >3 $=6 B25>0K 23 72/89 42EE>$$66 <8>30>B56#

<25>0K >$6E U)% ># 86#$/$69 >3 B25>0K >$6E UVH) 2: $=># #!""6#$69 B25>0KH I$ #=2J# $=/$ $=6 M2/89G#

R2M 2: /##!8>3" $=6 023$>3!>$K 2: $=6 <86#>963$ :!30$>23 ># / :!8$=68 #B60>:>0/$>23 2: /##!8>3"

28"/3>a/$>23/5 B68:28E/306H

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

#%

Page 47: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

V S < / " 6

5$=2!"= I =/C6 56:$ >$ /# / R2M 86#!5$ :28 J=>0= $=6 M2/89 ># /002!3$/M56’ $=6 0!8863$ B25>0K #$/$6E63$

T<’%;’ ", "! "&;$#")’ 3$% )*’ !,) )-) $! )$ )*’ 3’&’%"0= ,)")’= "!& 0$#"0 1$;’%! !1 8$& ’, "!& $)*’%

7-80 # "!& 7% ;")’ ’!) ) ’, )*") ."/ ",, ,) ! 3-%)*’% !1 )*’ . ,, $! $3 )*’ +$00’1’>5 86^!>86# E286 05/8>$K

M6:286 I 0/3 #!""6#$ =2J >$ ># M6#$ /9986##69-

I# $=6 >3$63$>23 2: $=6 M2/89 $=/$ /9C20/0K ># >$# R2M’ /39 32$ $=6 <86#>963$G#b +=686 ># 32 #=/869

/002!3$/M>5>$K M6$J663 $=6 M2/89 /39 $=6 B86#>963$ >3 <25>0K D2C683/306H I: /9C20/0K ># $=6

M2/89G# R2M $=63 >$ J2!59 M6 / "229 >96/ $2 =/C6 / D2C683/306 <8206## 23 9C20/0KH I: $=6

M2/89 c 32$ $=6 B86#>963$ c ># $=6 5>31 $2 068$/>3 6F$683/5 28"/3>a/$>23#’ 28 6F$683/5

28"/3>a/$>23# 28 /"630>6# 235K 5>31 $2 $=6 M2/89’ $=63 $=6 B25>0K 23 72/89 N>31/"6 J>$= ,$=68

,8"/3>a/$>23# E>"=$ M6 8656C/3$H ,3 $=6 2$=68 =/39 >: $=6 M2/89 9656"/$6# $=6 E/3/"6E63$

/0$>C>$K 2: /9C20/0K $2 $=6 <86#>963$’ >$ E/K M6 $=/$ /9C20/$>3" 23 M6=/5: 2: $=6 42556"6 E/K :>$

J>$=>3 $=6 4296 2: 4239!0$’ /523" J>$= /3K 6FB60$/$>23# $=6 M2/89 =/# 2: $8!#$66# /M2!$ =2J

$=6K B68:28E /# /9C20/$6#H

Q2! J>55 32$6 $=/$ B25>0K >$6E U‘ >3 $=6 86C>#69 B25>0K >963$>:>6#’ /# B/8$ 2: $=6 M2/89G# R2M’ $=2#6

960>#>23# J=>0= $=6 M2/89 =/# B!$ 2:: 5>E>$# $2 $=6 <86#>963$H +=6 >$6E# 5>#$69 YU‘H) $2 U‘HdZ /86 $/163

:82E $=6 ?F60!$>C6 N>E>$/$>23# B25>0>6# J=>0= I #63$ /$ $=6 M6">33>3" 2: !"!#$ /39 /5#2 >3028B28/$6 >$6E

U)) :82E $=6 0!8863$ B25>0KH

I 02!59 =/C6 >305!969 >$6E U[ :82E $=6 0!8863$ B25>0K M!$ J2!59 5>16 05/8>:>0/$>23 M6:286 92>3" #2H I: $=6

>3$63$ 2: U[ >#’ >3 :/0$’ $=/$ /3K 56"/5 02!3#65 /BB2>3$69 MK $=6 42556"6 E!#$ M6 E/96 MK $=6 M2/89 Y/39

32$ MK $=6 <86#>963$Z $=63 >$ #=2!59 M6 5>#$69 /# U‘H&H P2J6C68’ >: $=># 86:68# 235K $2 56"/5 02!3#65

/9C>#>3" $=6 M2/89’ >$ ># >3 :/0$ 32$ 3606##/8K $2 #$/$6 $=># /# $=6 M2/89 =/# /"8669 $2 "2C683 5/J:!55K /39

>: >$ =/#3G$ 9656"/$69 $=># /!$=28>$K $2 /3K 2::>068 28 02EE>$$66’ $=6 M2/89 /# / J=256 =/# $=6 /!$=28>$K

$2 E/16 $=6 960>#>23H P2J6C68’ >: $=6 M2/89 =/# B!$ $=># /!$=28>$K 2:: 5>E>$# $2 $=6 <86#>963$ $=63 >$

#=2!59 M6 /9969 $2 /3 ?F60!$>C6 N>E>$/$>23# B25>0K’ 5>165K >3 $=6 B25>0K 23 <82$60$>23 2: ##6$#H

+=/$ $=6 M2/89 =/# 02EE>$$69 $2 "2C683 5/J:!55K /5#2 E/16# >$ !33606##/8K $2 #B60>:>0/55K #$/$6 $=/$ >$

J>55 /BB2>3$ $=6 /!9>$28 /# >$ ># 86^!>869 MK 5/JH +=6 M2/89G# /!$=28>$K $2 92 $=>#’ >H6H /BB2>3$ $2 $=6

/!9>$28’ ># 8602"3>a69 >3 $=6 #!""6#$69 B25>0K :28 $=6 !9>$ 42EE>$$66 +68E# 2: \6:686306 YD<!*H)ZH

45/8>:>0/$>23 2: $=6 >3$63$ 2: Ud ># /5#2 86^!>869 M6:286 I /E #!86 2: J=686 >$ M6523"#H I: $=6 M2/89 >#

5221>3" $2 E23>$28 $=82!"= 6F$683/5 86B28$ 02EB5>/306 J>$= >$# ?F60!$>C6 N>E>$/$>23# 23 >3$683/5

023$825#’ $=63 I #!""6#$ B5/0>3" $=># >3 $=6 B25>0K 23 L23>$28>3" 2: <86#>963$ <68:28E/306 J=>0= ># 236 2:

$=6 B25>0>6# >3 $=6 72/89!<86#>963$ ;656"/$>23 B25>0>6# J=>0= #B60>:>6# $=6 E6$=29 /39 :86^!630K 2:

E23>$28>3" 2: ?F60!$>C6 N>E>$/$>23# /39 ?39# B25>0>6#H +=># 86^!>86# #2E6 :!8$=68 9>#0!##>23H

D<!V- 72/89 <5/33>3" 4K056 /39 "639/ 423$825

+=># B25>0K !#6# $=6 42556"6# $6EB5/$6H I$ >3028B28/$6# $=6 #B60>:>0 >$6E# 865/$69 $2 $=6 $J2 B5/33>3"

#6##>23# /39 86$86/$H I$6E U& >3 $=6 0!8863$ B25>0K =/# M663 E2C69 $2 $=6 B25>0K 23 @B60>/5 \!56# 2:

,8968H

D<!X- \256 2: $=6 72/89 4=/>8

+=># B25>0K !#6# $=6 42556"6 $6EB5/$6H I =/C6 E2C69 U) ?’ :82E $=6 0!8863$ B25>0K 23 4=/>8B68#23G# \256

>3$2 $=6 #!""6#$69 B25>0K 23 @B60>/5 \!56# 2: ,8968H I =/C6 32$ >305!969 >$6E U[ J=>0= #!""6#$# $=/$ $=6

4=/>8 /39 <86#>963$ 965>M68/$6 23 $=6 :!30$>23>3" 2: $=6 M2/89 J=686/# $=># ># $=6 /!$=28>$K 2: $=6 4=/>8H

+=6 <86#>963$ #=2!59 865/$6 235K $2 $=6 M2/89 /# / J=256H +=># ># 32$ $2 #/K $=/$ 4=/>8 /39 $=6 <86#>963$

#=2!59 32$ E66$ M!$ 32$ /# / B86#08>M69 8256 2: $=6 4=/>8 J=>0= B2$63$>/55K 56/9# $=6 <86#>963$ $2 :28E /

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

#&

Page 48: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

X S < / " 6

865/$>23#=>B J=>0= :/C28# $=6 4=/>8 2C68 2$=68 E6EM68# 2: M2/89’ 023$8/8K $2 $=6 M2/89G# 9>860$>23 >3

$=6 ?F60!$>C6 N>E>$/$>23 23 42EE!3>0/$>23 /39 @!BB28$ $2 $=6 72/89H ,36 2$=68 32$6 ># $=/$ $=6 M2/89

/# / J=256 c 32$ 235K $=6 <86#>963$ c ># 86#B23#>M56 :28 $=6 9>#0>B5>36 2: $=6 M2/89H

D<!‘- \256 2: $=6 e>06 4=/>8

?C68K 2::>068 #=2!59 =/C6 / 8256 96#08>B$>23’ 32 E/$$68 =2J M8>6:H

D<!d- \256 2: $=6 72/89 @6086$/8K

+=># ># / B25>0K :82E $=6 $6EB5/$6# :28 42556"6#H I$ ># 32$ 056/8 $2 E6 J=/$ $=6 8256 $=6 @6086$/8K >#

>3$63969 $2 :>55H +=># B25>0K E/K B82EB$ / 9>#0!##>23 /# $2 $=6 8256 28 $=6 3669 :28 $=6 8256H

D<!&- \256 2: +86/#!868

+=># B25>0K !#6# $=6 $6EB5/$6 B25>0KH

D<![- 72/89 42EE>$$66 <8>30>B56#

f=>56 $=># B25>0K !#6# $=6 $6EB5/$6’ K2! J>55 8602"3>a6 #6C68/5 2: $=6 B25>0K >$6E# J=>0= /BB6/869

65#6J=686 >3 K2!8 0!8863$ B25>0>6#H

D<![H)- !9>$ 42EE>$$66 +68E# 2: \6:686306

I: $=># ># / #$/39>3" 02EE>$$66 2: $=6 M2/89’ $=6 M2/89 #=2!59 =/C6 / B25>0K $=/$ #6$# 2!$ $=6

02EE>$$66G# $68E# 2: 86:686306H I =/C6 /9969 >$6E# U)H)H% /39 U)H)HV $2 B82EB$ 9>#0!##>23 /M2!$ $=6

>3$63969 8256 2: $=6 M2/89 J>$= 86#B60$ $2 $=6 E23>$28>3" 2: >3$683/5 023$825#’ /39 9/$/ /39 >3:28E/$>23

#60!8>$KH

D<![H%- ,J368#=>B N>31/"6 42EE>$$66 +68E# 2: \6:686306

<86#63$69 :28 K2!8 023#>968/$>23

D<!*- 72/89 /39 42EE>$$66 ?FB63#6#

<86#63$69 :28 K2!8 023#>968/$>23H 760/!#6 $=># ># $=6 M2/89G# B25>0K J=>0= ># /BB82C69 MK $=6 M2/89’ >$ >#

32$ 3606##/8K $2 #$/$6 $=/$ 6FB63#6# J>55 M6 /!$=28>a69 MK $=6 M2/89H

D<!)(- 72/89 4296 2: 4239!0$

Q2! J>55 8602"3>a6 E/3K 656E63$# :82E K2!8 0!8863$ B25>0K J=>0= /86 #>E>5/8 $2 $=6 $6EB5/$6H I =/C6

>3028B28/$69 >$6E# :82E K2!8 0!8863$ B25>0K J=>0= /9969 :!8$=68 #B60>:>0>$K $2 B25>0K >$6E#H

D<!))- I3C6#$E63$ >3 D2C683/306 c ,::6869 :28 023#>968/$>23H

D<!)%- 72/89 N>31/"6 J>$= ,J368#=>B c ,::6869 :28 023#>968/$>23H

D<!)V- 72/89 N>31/"6 J>$= ?F$683/5 ,8"/3>a/$>23# c ,::6869 :28 023#>968/$>23 /39 /5#2 $2 05/8>:K $=6

M2/89G# 8256 J>$= 86#B60$ $2 6F$683/5 28"/3>a/$>23# $=/$ /86 !3>^!6 :82E $=2#6 2: $=6 <86#>963$H

D<!)X- @B60>/5 \!56# 2: ,8968 c ,::6869 :28 023#>968/$>23H

D<!)‘- P/395>3" ,B68/$>23/5 42EB5/>3$# c I =/C6 >305!969 $=># M60/!#6 $=686 ># / B25>0K >$6E U‘ >3 $=6

0!8863$ 4296 2: 4239!0$ B25>0KH \6E6EM68 K2! 0/3 69>$ /3K B25>0K #2 $=/$ >$ :>$# $=6 M2/89G# 023$6F$H

D<!)d- P/395>3" 556"69 <25>0K e>25/$>23# c I =/C6 >305!969 $=># B25>0K J=>0= J6 =/C6 >305!969 J>$= 2!8

$6EB5/$6 M60/!#6 2: M2/89#G >3$686#$ >3 $8/3#B/8630K /39 $=6 2BB28$!3>$K :28 J=>#$56 M52J68# =/C>3"

/C63!6 M6K239 2B68/$>23/5 B25>0>6#H "/>3’ >$ ># 2::6869 :28 023#>968/$>23H

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

#’

Page 49: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"!# $ % &

’(&!)*+),-&!,.!/(&!0,$+12!,3!0&($4.!,.!/(&!56/67&3-!,.!8$59-,3!:,*3/;!6-!/,!&3-*+&!/($/!8$59-,3!:,44&%&!$5(6&<&-!$))+,)+6$/&!+&-*4/-!.,+!/(&!$))+,)+6$/&!)&,)4&!$/!$3!$))+,)+6$/&!5,-/2!$31!$<,61-!*3$55&)/$04&!$5/6,3-!$31!-6/*$/6,3-=

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 >4,0$4!>,<&+3$35&!:,??6/?&3/! 5:7;8<@! >#

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

#(

Page 50: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

A!"!# $ % &

’(&!0,$+1!B644!%,<&+3!4$B.*44;2!&C&5*/63%!/(&!),B&+-!1&-6%3$/&1!0;!/(&!D&1&+$4!>,<&+3?&3/!$31!E65(6%$3!-/$/*&-2!B6/(!$3!&?)($-6-!,3!,*/B$+1!<6-6,32!5,??6/?&3/!/,!,0/$6363%!,B3&+-(6)!63)*/2!&35,*+$%&?&3/!,.!16<&+-6/;!63!<6&B),63/-2!-/+$/&%65!4&$1&+-(6)2!54&$+!16-/635/6,3!,.!0,$+1!$31!-/$..!+,4&-2!5,44&5/6<&!1&56-6,3-2!$31!$!)+,$5/6<&2!.*/*+&!.,5*-=!’(6-!?&$3-!/(&!0,$+1!B644!3,/!0&!)+&,55*)6&1!B6/(!/(&!)+&-&3/!,+!)$-/2!,+!B6/(!63/&+3$42!$1?636-/+$/6<&!1&/$64=!

=! ’(&!0,$+1!B644!5*4/6<$/&!$!-&3-&!,.!%+,*)!+&-),3-60646/;=!’(&!0,$+12!3,/!/(&!#+&-61&3/2!B644!0&!+&-),3-604&!.,+!&C5&44&35&!63!%,<&+363%=!’(&!0,$+1!B644!636/6$/&!),465;2!3,/!?&+&4;!+&$5/!/,!#+&-61&3/!636/6$/6<&-=!’(&!0,$+1!B644!*-&!/(&!&C)&+/6-&!,.!6316<61*$4!/+*-/&&-!$31!0,$+1!5,??6//&&-!/,!&3($35&!/(&!$0646/;!,.!/(&!0,$+1!$-!$!0,1;!/,!?$9&!),465;2!+$/(&+!/($3!/,!-*0-/6/*/&!/(&6+!6316<61*$4!F*1%&?&3/-!.,+!/(&!%+,*)G-!<$4*&-=!

A=! ’(&!0,$+1!B644!16+&5/2!5,3/+,4!$31!63-)6+&!/(&!,+%$367$/6,3!/(+,*%(!/(&!5$+&.*4!&-/$046-(?&3/!,.!0+,$1!B+6//&3!),4656&-!+&.4&5/63%!/(&!,B3&+-H!<$4*&-!$31!)&+-)&5/6<&-=!’(&!0,$+1H-!?$F,+!),465;!.,5*-!B644!0&!,3!/(&!63/&31&1!4,3%I/&+?!+&-*4/-!/,!0&!)+,1*5&1!.,+!0&3&.656$+6&-!,*/-61&!/(&!,)&+$/6,3$4!,+%$367$/6,32!3,/!,3!/(&!$1?636-/+$/6<&!?&$3-!,.!$//$6363%!/(,-&!+&-*4/-=!

J=! ’(&!0,$+1!B644!&3.,+5&!*),3!6/-&4.!B($/&<&+!-&4.I16-56)463&!6-!3&&1&1!/,!%,<&+3!B6/(!&C5&44&35&=!K&4.I16-56)463&!B644!$))4;!/,!?$//&+-!-*5(!$-!$//&31$35&2!)+&)$+$/6,3!.,+!?&&/63%-2!),465;I?$963%!)+6356)4&-2!+&-)&5/!,.!+,4&-2!+&%*4$+!-&4.I&<$4*$/6,32!$31!&3-*+63%!/(&!5,3/63*6/;!,.!%,<&+3$35&!5$)$0646/;=!L4/(,*%(!/(&!0,$+1!5$3!5($3%&!6/-!%,<&+3$35&!)+,5&--!),4656&-!$/!$3;!/6?&2!6/!B644!-5+*)*4,*-4;!,0-&+<&!/(,-&!5*++&3/4;!63!.,+5&=!

M=! ’(&!0,$+1!B644!3,/!$44,B!$3;!/+*-/&&!,+!5,??6//&&!,.!/(&!0,$+1!/,!(631&+!,+!0&!$3!&C5*-&!.,+!3,/!.*4.64463%!0,$+1!,046%$/6,3-=

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 >,<&+363%!K/;4&! 5:7;8<@! >#I

!6=8 #>><0?8@9

+01234 %4>89!! !>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

$)

Page 51: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

J!"!# $ % &

L-!$3!63.,+?&1!$%&3/!,.!/(&!,B3&+-(6)2!/(&!0,$+1H-!-)&56.65!F,0!)+,1*5/-!$+&!/(,-&!/($/!&3-*+&!$))+,)+6$/&!,+%$367$/6,3$4!)&+.,+?$35&=!

L55,+163%4;2!/(&!0,$+1!($-!16+&5/!+&-),3-60646/;!/,!5+&$/&@!

=! ’(&!4639!0&/B&&3!/(&!,B3&+-!$31!/(&!:,44&%&=!

A=! N+6//&3!%,<&+363%!),4656&-!/($/!$11+&--!/(&!0+,$1&-/!4&<&4-!,.!$44!,+%$367$/6,3$4!1&56-6,3-!$31!-6/*$/6,3-@!

A= =! !"#@!N($/!%,,1!,+!0&3&.6/!/(&!,+%$367$/6,3!6-!/,!)+,1*5&2!.,+!B(65(!+&56)6&3/-2!$/!B($/!B,+/(=!!

A=A=! $%&’()*%+,)-)(.()/!#@!:,3-/+$63/-!,3!&C&5*/6<&!$*/(,+6/;!/($/!&-/$046-(!/(&!0,*31$+6&-!,.!)+*1&35&!$31!&/(65-!B6/(63!B(65(!$44!&C&5*/6<&!$5/6<6/;!$31!1&56-6,3-!?*-/!/$9&!)4$5&=!

A=J=!0/*%1!.!&%+21/&%##@!K)&56.65$/6,3!,.!(,B!/(&!0,$+1!5,35&)/*$467&-2!5$++6&-!,*/2!$31!?,36/,+-!6/-!,B3!/$-9=!

A=M=!3/.1"45.!.6%-%!(+7%8%6.()/!@!O,B!$*/(,+6/;!6-!1&4&%$/&1!$31!6/-!)+,)&+!*-&!?,36/,+&12!6354*163%!/(&!#+&-61&3/!+,4&2!$*/(,+6/;2!$31!$55,*3/$0646/;=!

J=! L--*+$35&!,.!,+%$367$/6,3$4!)&+.,+?$35&!,3!P31-!$31!PC&5*/6<&!Q6?6/$/6,3-=!!

J= =!:,3/63*6/;!,.!/(&!#+&-61&3/!.*35/6,3=!

J=A=!K/+*5/*+&1!?,36/,+63%!,.!/(&!#+&-61&3/!$-!,*/463&1!63!R,$+1I#+&-61&3/!S&4&%$/6,3!),4656&-=!

M=! L1<,5$5;!,3!0&($4.!,.!/(&!:,44&%&!B6/(!.&1&+$42!-/$/&!$31!4,5$4!%,<&+363%!0,16&-!$31!,/(&+!)*0465!$31!)+6<$/&!&3/6/6&-=!

T=! U)&+$/6,3$4!1&56-6,3-!/($/!/(&!0,$+1!($-!)+,(606/&1!/(&!#+&-61&3/!.+,?!?$963%!0;!6/-!PC&5*/6<&!Q6?6/$/6,3-!),4656&-=!

T= =!S&56-6,3-!+&%$+163%!$5V*6-6/6,32!&35*?0&+63%!,+!16-),-$4!,.!4$31!,+!0*64163%-=!WPQIM!6/&?!XY!

T=A=!S&56-6,3-!+&%$+163%!6316<61*$4!&C)&316/*+&-!/($/!1,!3,/!?&&/!/(&!5,316/6,3-!63!PQIT2!6/&?!Z=!

T=J=!S&56-6,3-!+&%$+163%!5($3%&!,.!,+%$367$/6,3$4!3$?&!,+!61&3/6/;!63!/(&!5,??*36/;=!WPQIT!6/&?! Y!

T=M=!S&56-6,3-!+&%$+163%!/(&!3$?63%!,+!5($3%&!,.!/(&!3$?&!,.!$!:,44&%&!0*64163%!,+!.$5646/;=!WPQIT!6/&?! AY!

T=T=!:+&$/6,3!,.!$!-*0-616$+;!/($/!1,&-!3,/!?&&/!/(&!5,316/6,3-!63!PQIT2!6/&?! M=!

T=Z=!S&56-6,3-!+&%$+163%!/(&!#+&-61&3/H-!,B3!5,?)&3-$/6,3!$31!0&3&.6/-=!WPQIZ!6/&?! Y!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 R,$+1!8,0!:,3/+60*/6,3-! 5:7;8<@! >#IA

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

$

Page 52: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

M!"!# $ % &

’,!$55,?)46-(!6/-!F,0!)+,1*5/-!B6/(!$!%,<&+3$35&!-/;4&!5,3-6-/&3/!B6/(!0,$+1!),4656&-2!/(&!0,$+1!B644!1&<&4,)!$31!.,44,B!$!?*4/6I;&$+!5;54&!/($/!6354*1&-!$44!&4&?&3/-!,.!/(&!0,$+1H-!B,+9=!

=! ’(&!0,$+1!-($44!?$63/$63!5,3/+,4!,.!6/-!,B3!$%&31$!0;!1&<&4,)63%!$3!$33*$4!-5(&1*4&!0$-&1!,3!/(&!?*4/6I;&$+!5;54&=!WK&&!5;54&!$/!/(&!&31!,.!/(6-!),465;=Y!

= =![&<6&B!,.!/(&!P31-!63!$!/6?&4;!.$-(6,3!B(65(!$44,B-!/(&!#+&-61&3/!/,!0*641!$!0*1%&/!0$-&1!,3!$55,?)46-(63%!$!,3&I;&$+!-&%?&3/!,.!/(&!0,$+1G-!?,-/!+&5&3/!-/$/&?&3/!,.!4,3%I/&+?!&31-=!!

=A=!Q639$%&!B6/(!/(&!,B3&+-(6)!/,!%$63!$!+&)+&-&3/$/6<&!?6C!,.!,B3&+!<$4*&-2!)&+5&)/6,3-!$31!&C)&5/$/6,3-2!)+6,+!/,!/(&!$0,<&!+&<6&B=!

=J=!P1*5$/6,3!+&4$/&1!/,!1&<&4,)?&3/!$31!+&<6-6,3!,.!P31-=!’(&!0,$+1!B644!5,3-61&+!6354*163%!&3<6+,3?&3/$4!-5$3363%2!)+&-&3/$/6,3-!0;!/(,*%(/!4&$1&+-!,+!&C)&+/-2!$31!$5/6<6/6&-!B(65(!1&<&4,)!-/+$/&%65!.,+&-6%(/=!

=M=![6-9!$--&--?&3/2!6354*163%!)+,0$0646/;!,.!+6-9-!$31!6?)$5/!,.!)$+/65*4$+!+6-9-2!$-!0$59%+,*31!5,3/&C/!.,+!),465;!+&<6&B=!

=T=!:,3/&3/!+&<6&B!,.!-&4&5/&1!PC&5*/6<&!Q6?6/$/6,3-2!>,<&+3$35&!#+,5&--!$31!R,$+1!\!E$3$%&?&3/!S&4&%$/6,3!),4656&-2!5,3-6-/&3/!B6/(!$!?*4/6I;&$+!-5(&1*4&!/($/!6354*1&-!$44!),4656&-=!

=Z=!K&4.I&<$4*$/6,3!,.!/(&!0,$+1H-!,B3!5,?)46$35&!B6/(!-&4&5/&1!>,<&+3$35&!#+,5&--!$31!R,$+1!\!E$3$%&?&3/!S&4&%$/6,3!),4656&-2!5,3-6-/&3/!B6/(!/(&!-5(&1*4&!63!/(&!),465;!9!*%#(-%!(+)!+0/*%1!.!&%=!!!

=]=!S,5*?&3/$/6,3!,.!?,36/,+63%!5,?)46$35&!0;!/(&!#+&-61&3/!B6/(!PC&5*/6<&!Q6?6/$/6,3-!$31!P31-!),4656&-=!E,36/,+63%!+&),+/-!B644!0&!+&$1!63!$1<$35&!,.!/(&!0,$+1!?&&/63%2!$31!16-5*--6,3!B644!,55*+!,34;!6.!0,$+1!?&?0&+-!$--&--!63/&+)+&/$/6,3-!$-!*3+&$-,3$04&2!61&3/6.;!3,3I5,?)46$35&2!,+!61&3/6.;!),/&3/6$4!3&&1!.,+!),465;!$?&31?&3/-=!

=X=!P1*5$/6,3!$0,*/!/(&!)+,5&--!,.!%,<&+3$35&=!

=^=!’B,!)4$3363%!-&--6,3-2!,3&!(&41!3,!4$/&+!/($3!_,<&?0&+2!/(&!-&5,31!(&41!3,!4$/&+!/($3!L)+64=!’(&!0,$+1!B644!-5(&1*4&!$!+&/+&$/!3,!4$/&+!/($3!8*3&=!

A=! R$-&1!,3!/(&!,*/463&!,.!/(&!$33*$4!-5(&1*4&2!/(&!0,$+1!1&4&%$/&-!/,!/(&!:($6+!/(&!$*/(,+6/;!/,!.644!63!/(&!1&/$64-!,.!/(&!?&&/63%!5,3/&3/=!!#,/&3/6$4!$%&31$!6/&?-!-($44!0&!5$+&.*44;!-5+&&3&1=!K5+&&363%!V*&-/6,3-!-($44!6354*1&@!

! :4$+6.65$/6,3!$-!/,!B(&/(&+!/(&!6--*&!54&$+4;!0&4,3%-!/,!/(&!0,$+1!,+!/(&!#+&-61&3/=!!

! ‘1&3/6.65$/6,3!,.!B($/!5$/&%,+;!$3!6--*&!+&4$/&-!/,!I!P31-2!PC&5*/6<&!Q6?6/$/6,3-2!>,<&+3$35&!#+,5&--2!R,$+1I#+&-61&3/!S&4&%$/6,3=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 R,$+1!#4$3363%!:;54&!$31!L%&31$!!! ! :,3/+,4!

5:7;8<@! >#IJ

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

$!

Page 53: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

T!"!# $ % &

! [&<6&B!,.!B($/!/(&!0,$+1!($-!$4+&$1;!-$61!63!/(6-!5$/&%,+;2!$31!(,B!/(&!5*++&3/!6--*&!6-!+&4$/&1=!

J=! ’(+,*%(,*/!/(&!;&$+2!/(&!0,$+1!B644!$//&31!/,![&V*6+&1!L))+,<$4-!L%&31$!6/&?-!$-!&C)&16/6,*-4;!$-!),--604&=!N(&3!$3!6/&?!6-!0+,*%(/!/,!/(&!R,$+1!<6$!/(&![&V*6+&1!L))+,<$4-!L%&31$2!1&460&+$/6,32!6.!$3;2!B644!,34;!0&!63!+&%$+1!/,!B(&/(&+!,+!3,/!/(&!#+&-61&3/H-!1&56-6,3!5,?)46&-!B6/(!+&4&<$3/!0,$+1!),4656&-=!

J= =!_,/!4$/&+!/($3!8*3&2!/(&!:,44&%&H-!$33*$4!0*1%&/=!

J=A=![&<6-6,3-!/,!/(&!0*1%&/a!W:5+!/(%+;+)(+</’8"+=%+1%8%*.!(+(/+)"%!()>?+&1)(%1).+>/1+1%*)#)/!#+<@)&@+(@%+=/.1"+#@/’8"+#%%A+B!/(@%1+C’%#()/!+9+@.*%+)#+<@%(@%1+8%6)#8.()/!+-.!".(%#+

(@.(+1%*)#)/!#+=%+.DD1/*%"+=?+(@%+=/.1"=Y!

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

$"

Page 54: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication
Page 55: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

]!"!# $ % &

’(&!:($6+!e5(6&.!%,<&+3$35&!,..65&+f2!$!-)&56$44;!&?),B&+&1!?&?0&+!,.!/(&!0,$+12!$--*+&-!/(&!63/&%+6/;!,.!/(&!0,$+1H-!)+,5&--=!!!

=! ’(&!$--6%3&1!+&-*4/!,.!/(&!:($6+H-!F,0!6-!/($/!/(&!0,$+1!0&($<&-!5,3-6-/&3/4;!B6/(!6/-!,B3!+*4&-!$31!/(,-&!4&%6/6?$/&4;!6?),-&1!*),3!6/!.+,?!,*/-61&!/(&!,+%$367$/6,3=!

= =!E&&/63%!16-5*--6,3!5,3/&3/!B644!6354*1&!,34;!/(,-&!6--*&-!/($/2!$55,+163%!/,!0,$+1!),465;2!54&$+4;!0&4,3%!/,!/(&!0,$+1!/,!1&561&!,+!?,36/,+=!

=A=!‘3.,+?$/6,3!/($/!6-!3&6/(&+!.,+!?,36/,+63%!)&+.,+?$35&!3,+!.,+!0,$+1!1&56-6,3-!B644!0&!$<,61&1!,+!?636?67&1!$31!$4B$;-!3,/&1!$-!-*5(=!

=J=!S&460&+$/6,3!B644!0&!/6?&4;2!.$6+2!,+1&+4;2!$31!/(,+,*%(2!0*/!$4-,!&..656&3/!$31!9&)/!/,!/(&!),63/=!

8VMV! ’(&!<65&I5($6+!B644!0&!-*..656&3/4;!63.,+?&1!,.!0,$+1!6--*&-!$31!)+,5&--&-!/,!)+,<61&!5,3/63*6/;!63!/(&!&<&3/!,.!)4$33&1!,+!*3&C)&5/&1!:($6+!$0-&35&-=

A=! ’(&!$*/(,+6/;!,.!/(&!:($6+!5,3-6-/-!63!?$963%!1&56-6,3-!/($/!.$44!B6/(63!/,)65-!5,<&+&1!0;!0,$+1!),4656&-!,3!>,<&+3$35&!#+,5&--!$31!R,$+1IE$3$%&?&3/!S&4&%$/6,32!B6/(!/(&!&C5&)/6,3!,.!e$f!&?)4,;?&3/!,+!/&+?63$/6,3!,.!$!#+&-61&3/!$31!e0f!63-/$35&-!B(&+&!/(&!0,$+1!-)&56.65$44;!1&4&%$/&-!),+/6,3-!,.!/(6-!$*/(,+6/;!/,!,/(&+-=!’(&!:($6+!6-!$*/(,+67&1!/,!*-&!$3;!+&$-,3$04&!63/&+)+&/$/6,3!,.!/(&!)+,<6-6,3-!63!/(&-&!),4656&-=!

A= =!’(&!:($6+!6-!&?),B&+&1!/,!5($6+!0,$+1!?&&/63%-!B6/(!$44!/(&!5,??,34;!$55&)/&1!),B&+!,.!/($/!),-6/6,32!-*5(!$-!+*463%!$31!+&5,%36763%=!

A=A=!’(&!:($6+!6-!$*/(,+67&1!/,!$)),63/!/(&!?&?0&+-!,.!$44!0,$+1!5,??6//&&-=!

A=J=!’(&!:($6+!($-!3,!$*/(,+6/;!/,!?$9&!1&56-6,3-!$0,*/!),4656&-!5+&$/&1!0;!/(&!0,$+1!B6/(63! !"#!$31! $%&’()*%+,)-)(.()/!#!),465;!$+&$-=!!’(&+&.,+&2!/(&!:($6+!($-!3,!$*/(,+6/;!/,!-*)&+<6-&!,+!16+&5/!/(&!#+&-61&3/=!

A=M=!’(&!:($6+!?$;!+&)+&-&3/!/(&!0,$+1!/,!,*/-61&!)$+/6&-!63!$33,*3563%!0,$+1I-/$/&1!),-6/6,3-!$31!63!-/$/63%!:($6+H-!1&56-6,3-!$31!63/&+)+&/$/6,3-!B6/(63!/(&!$+&$!1&4&%$/&1!/,!/(&!:($6+=!

A=T=!’(&!:($6+!?$;!1&4&%$/&!/(6-!$*/(,+6/;2!0*/!+&?$63-!$55,*3/$04&!.,+!6/-!*-&=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 [,4&!,.!/(&!R,$+1!:($6+! 5:7;8<@! >#IM

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

$$

Page 56: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

X!"!# $ % &

’(&!g65&!:($6+!-($442!63!/(&!$0-&35&!,.!/(&!:($6+2!)+&-61&!$/!$44!?&&/63%-!,.!/(&!0,$+1!$31!($<&!-*5(!,/(&+!1*/6&-!$31!),B&+-!$-!/(&!0,$+1!?$;!-)&56.;=

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 [,4&!,.!/(&!g65&!:($6+! 5:7;8<@! >#IT

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

$%

Page 57: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

^!"!# $ % &

’(&!R,$+1!K&5+&/$+;!6-!$3!,..65&+!,.!/(&!0,$+1!B(,-&!)*+),-&!6-!/,!&3-*+&!/(&!63/&%+6/;!,.!/(&!0,$+1H-!1,5*?&3/-=!

=! ’(&!$--6%3&1!+&-*4/!,.!/(&!R,$+1!K&5+&/$+;H-!F,0!6-!/,!-&&!/,!6/!/($/!$44!0,$+1!1,5*?&3/-!$31!.6463%-!$+&!$55*+$/&!$31!/6?&4;=!

= =!#,4656&-!B644!0&!5*++&3/!63!/(&6+!+&.4&5/6,3!,.!0,$+1!1&56-6,3-=!S&56-6,3-!*),3!B(65(!3,!-*0-&V*&3/!1&56-6,3-!$+&!/,!0&!0$-&12!-*5(!$-![&V*6+&1!L))+,<$4-!L%&31$!1&56-6,3-2!?,/6,3-!/,!$1F,*+32!$31!-/$..!,+!/+*-/&&!+&5,%36/6,3-!3&&1!3,/!0&!)4$5&1!63!),465;=!

=A=!’(&!.,+?$/!,.!),4656&-!B644!+6%,+,*-4;!.,44,B!#,465;!>,<&+3$35&!!)+6356)4&-=!

=J=![&%*4$/6,3-!$31!4$B-!3&5&--$+;!.,+!4&%$4!5,?)46$35&!$31!.,+!5,3-6-/&35;!B6/(!/(&!

)+6356)4&-!,.!#,465;!>,<&+3$35&!!!B644!0&!93,B3!/,!/(&!0,$+1=!

=M=!E63*/&-!B644!0&!$3!$55*+$/&!+&5,+1!,.!0,$+1!1&56-6,3-!$31!1*&!1646%&35&2!63!$3!$))+,)+6$/&!.,+?$/!$31!1&%+&&!,.!0+&<6/;=!

=T=!’(&!$*/(,+6/;!,.!/(&!R,$+1!K&5+&/$+;!6-!$55&--!/,!$31!5,3/+,4!,<&+!0,$+1!1,5*?&3/-2!/(&!$*/(,+6/;!/,!?$9&!$3;!+&$-,3$04&!63/&+)+&/$/6,3!,.!/(6-!),465;2!$31!/(&!+&$-,3$04&!*-&!,.!$1?636-/+$/6<&!-/$..!/6?&=

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 [,4&!,.!/(&!R,$+1!K&5+&/$+;! 5:7;8<@! >#IZ

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

$&

Page 58: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

h!"!# $ % &

’(&!’+&$-*+&+!6-!$3!,..65&+!,.!/(&!0,$+1!B(,-&!)*+),-&!6-!/,!5($6+!/(&!L*16/!:,??6//&&2!)+,<61&!.63$356$4!63-6%(/-!/,!/(&!0,$+1!/,!$--6-/!63!6/-!),465;!1&<&4,)?&3/2!$31!-*5(!,/(&+!1*/6&-!$31!),B&+-!$-!/(&!0,$+1!?$;!-)&56.;=

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 [,4&!,.!/(&!’+&$-*+&+! 5:7;8<@! >#I]

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

$’

Page 59: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"!# $ % &

R,$+1!5,??6//&&-2!B(&3!*-&12!B644!0&!$--6%3&1!/,!+&63.,+5&!/(&!B(,4&3&--!,.!/(&!0,$+1H-!F,02!$31!B644!3&<&+!63/&+.&+&!B6/(!1&4&%$/6,3!.+,?!0,$+1!/,!#+&-61&3/=!

=! R,$+1!5,??6//&&-!$+&!/,!(&4)!/(&!0,$+1!1,!6/-!F,02!3&<&+!/,!(&4)!,+!$1<6-&!/(&!-/$..=!!:,??6//&&-!,+163$+64;!B644!$--6-/!/(&!0,$+1!0;!)+&)$+63%!),465;!$4/&+3$/6<&-!$31!6?)465$/6,3-!.,+!0,$+1!1&460&+$/6,3=!!!

A=! R,$+1!5,??6//&&-!?$;!3,/!-)&$9!,+!$5/!.,+!/(&!0,$+1!&C5&)/!B(&3!.,+?$44;!%6<&3!-*5(!$*/(,+6/;!.,+!-)&56.65!$31i,+!/6?&I46?6/&1!)*+),-&-=!PC)&5/$/6,3-!$31!$*/(,+6/;!B644!0&!5$+&.*44;!-/$/&1!63!,+1&+!3,/!/,!5,3.465/!B6/(!$*/(,+6/;!1&4&%$/&1!/,!/(&!#+&-61&3/=!

J=! R,$+1!5,??6//&&-!5$33,/!&C&+56-&!$*/(,+6/;!,<&+!-/$..=!R&5$*-&!/(&!#+&-61&3/!B,+9-!.,+!/(&!.*44!0,$+12!(&!,+!-(&!B644!3,/!0&!+&V*6+&1!/,!,0/$63!$))+,<$4!,.!$!0,$+1!5,??6//&&!0&.,+&!$3!&C&5*/6<&!$5/6,3=!

M=! :,??6//&&-!B644!0&!*-&1!-)$+63%4;!$31!,+163$+64;!63!$3!$1!(,5!5$)$56/;=!L1!(,5!5,??6//&&-!B644!($<&!3,!?,+&!/($3!/(+&&!/+*-/&&-!$-!?&?0&+-=!

T=! ’(6-!),465;!$))46&-!/,!$3;!%+,*)!/($/!6-!.,+?&1!0;!0,$+1!$5/6,3!B(&/(&+!,+!3,/!6/!6-!5$44&1!$!5,??6//&&!$31!B(&/(&+!,+!3,/!6/!6354*1&-!0,$+1!?&?0&+-=!‘/!1,&-!3,/!$))4;!/,!5,??6//&&-!.,+?&1!*31&+!/(&!$*/(,+6/;!,.!/(&!#+&-61&3/=!

Z=! L44!5,??6//&&!?&?0&+-!-($44!$061&!0;!/(&!-$?&!:,1&!,.!:,31*5/!$-!%,<&+3-!/(&!0,$+1=!

]=! PC5&)/!$-!1&.63&1!63!B+6//&3!/&+?-!,.!+&.&+&35&2!3,!5,??6//&&!($-!$*/(,+6/;!/,!5,??6/!/(&!.*31-!,+!+&-,*+5&-!,.!/(&!,+%$367$/6,3=!

X=! L!5,??6//&&!6-!$!0,$+1!5,??6//&&!,34;!6.!6/-!&C6-/&35&!$31!5($+%&!5,?&!.+,?!/(&!0,$+12!+&%$+14&--!,.!B(&/(&+!/+*-/&&-!-6/!,3!/(&!5,??6//&&=!’(&!,34;!0,$+1!5,??6//&&-!$+&!/(,-&!B(65(!$+&!-&/!.,+/(!63!4,B&+!4&<&4!-&5/6,3-!,.!/(6-!),465;=!!

X= =!’(&!0,$+1!B644!&-/$046-(!/&+?-!,.!+&.&+&35&!.,+!$3;!$1!(,5!5,??6//&&!6/!&-/$046-(&-=!’(&!/&+?-!,.!+&.&+&35&!B644!-)&56.;!/(&!-/$+/!$31!&31!1$/&-!,.!/(&!5,??6//&&H-!?$31$/&=!!!!!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 R,$+1!:,??6//&&!#+6356)4&-! 5:7;8<@! >#IX

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

$(

Page 60: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

A!"!# $ % &

’(&!L*16/!:,??6//&&!&3($35&-!/(&!0,$+1H-!&..&5/6<&3&--!$31!&..656&35;!63!.*4.64463%!6/-!&C/&+3$4!$31!16+&5/!63-)&5/6,3!?,36/,+63%!+&-),3-60646/6&-!,.!.6-5$4!),465;=!!!

.0772==88 +<0@:3=B

=! ’(&!5,??6//&&!)+,1*5/-!$+&!/,!-*)),+/!/(&!0,$+1H-!F,02!3&<&+!/,!1&561&!.,+!/(&!0,$+1!*34&--!&C)4656/4;!-/$/&1!0&4,B!!

= =! L!/+$3-)$+&3/!)+,5&--!,.!+&<6&B!$31!16-54,-*+&!/($/!&3($35&-!,B3&+!$31!-/$9&(,41&+!5,3.61&35&!63!/(&!,+%$367$/6,3H-!.63$356$4!+&),+/63%=!

= = =! U)/6,3-!.,+!0,$+1!1&56-6,3!+&@!$)),63/?&3/2!5,?)&3-$/6,3!$31!,<&+-6%(/!,.!)*0465!$55,*3/63%!.6+?j!1&-6%3$/6,3!,.!-)&56.65!$+&$e-f2!6.!$3;2!,.!$*16/!.,5*-j!$31!46$6-,3!B6/(!$*16/,+!,3!0&($4.!,.!0,$+1=!

= =A=! U)/6,3-!.,+!0,$+1!1&56-6,3!$0,*/!/(&!$)),63/?&3/2!5,?)&3-$/6,3!$31!,<&+-6%(/!,.!631&)&31&3/!5,*3-&4!,+!,/(&+!$1<6-,+-!3&5&--$+;!/,!/(&!0,$+1!63!5$++;63%!,*/!6/-!$*16/!1*/6&-=!

= =J=! L/!/(&!+&V*&-/!,.!/(&!0,$+12!$3!,)636,3!.,+!/(&!0,$+1!$-!/,!#+&-61&3/!5,?)46$35&!B6/(!5+6/&+6$!-)&56.6&1!63!PC&5*/6<&!Q6?6/$/6,3-!),4656&-!,3!63/&+3$4!5,3/+,4-!WPQIT2!6/&?-!M2!M= !$31!M=AY!

= =M=! L3!,)636,3!.,+!/(&!0,$+1!*),3!6/-!+&V*&-/!$-!/,!#+&-61&3/!5,?)46$35&!B6/(!5+6/&+6$!-)&56.6&1!63!PC&5*/6<&!Q6?6/$/6,3-!),4656&-!,3!1$/$!$31!63.,+?$/6,3!-&5*+6/;!WPQIT2!6/&?!k^Y=!

= =T=! L3!,)636,3!.,+!/(&!R,$+12!0$-&1!,3!&<61&35&!+&V*6+&1!,.!/(&!&C/&+3$4!$*16/,+2!$-!/,!B(&/(&+!/(&!631&)&31&3/!$*16/!,.!/(&!,+%$367$/6,3!B$-!)&+.,+?&1!63!$3!$))+,)+6$/&!?$33&+=!

= =Z=! L3!$33*$4!+&),+/!/,!/(&!0,$+1!(6%(46%(/63%!/(&!5,??6//&&H-!+&<6&B!,.!/(&!$*16/&1!.63$356$4!-/$/&?&3/-!$31!$3;!,/(&+!-6%36.65$3/!63.,+?$/6,3!$+6-63%!.+,?!/(&6+!16-5*--6,3-!B6/(!/(&!&C/&+3$4!$*16/,+=!

=A=! :*++&3/!63.,+?$/6,3!.,+!/(&!0,$+1!,3!-6%36.65$3/!3&B!1&<&4,)?&3/-!63!$55,*3/63%!)+6356)4&-!,+!+&4&<$3/!+*463%-!,.!+&%*4$/,+;!0,16&-!/($/!$..&5/!/(&!,+%$367$/6,3=!

=J=! :*++&3/!63.,+?$/6,3!.,+!/(&!0,$+1!,3!-6%36.65$3/!3&B!1&<&4,)?&3/-!63!1$/$!$31!63.,+?$/6,3!-&5*+6/;!/($/!$..&5/!/(&!,+%$367$/6,3=!

=M=! L!-&4.I?,36/,+63%!+&),+/!,3!/(&!$))+,)+6$/&3&--!,.!/(&!0,$+1H-!,B3!-)&3163%2!0$-&1!,3!5+6/&+6$!63!/(&!0,$+1!>#!),465;!,3!0,$+1!&C)&3-&-2!6354*163%!)&+6,165!+$31,?!$*16/!,.!/(&!0,$+1!?&?0&+-H!&C)&3-&!$55,*3/-=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 L*16/!:,??6//&&!’&+?-!,.![&.&+&35& 5:7;8<@! >#IX=

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

%)

Page 61: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

J!"!# $ % &

=T=! U)/6,3-!.,+!0,$+1!1&56-6,3!+&@!5$)6/$4!)+,F&5/-!,*/-61&!/(&!#+&-61&3/H-!&C)&316/*+&!46?6/-!$-!61&3/6.6&1!63!PC&5*/6<&!Q6?6/$/6,3-!,3!.63$35&=!

.0772==88 #:=D0<2=4

A=! ’(&!:,??6//&&H-!$*/(,+6/;!&3$04&-!6/!/,!$--6-/!/(&!0,$+1!63!6/-!B,+92!B(64&!3,/!63/&+.&+63%!B6/(!0,$+1!(,46-?=!

A= =! ’(&!5,??6//&&!5$33,/!5($3%&!,+!5,3/+$<&3&!0,$+1!),4656&-2!,+!63-/+*5/!/(&!#+&-61&3/!,+!$3;!,/(&+!-/$..!?&?0&+2!,/(&+!/($3!/,!+&V*&-/!63.,+?$/6,3!+&V*6+&1!63!/(&!5,31*5/!,.!6/-!1*/6&-=!!

A=A=! ’(&!5,??6//&&!?$;!3,/!-)&31!,+!5,??6/!,+%$367$/6,3!.*31-2!,/(&+!/($3!/(,-&!-)&56.65$44;!$44,5$/&1!0;!/(&!0,$+1=!!!

A=J=! ’(&!5,??6//&&!?$;!*-&!-/$..!+&-,*+5&!/6?&!3,+?$4!.,+!$1?636-/+$/6<&!-*)),+/!$+,*31!?&&/63%-=!!

A=M=! ’(&!5,??6//&&!?$;!?&&/!631&)&31&3/4;!B6/(!/(&!,+%$367$/6,3H-!&C/&+3$4!$*16/,+-=! !

A=T=! ’(&!5,??6//&&!5($6+!($-!/(&!$*/(,+6/;!/,!?$9&!$3;!+&$-,3$04&!63/&+)+&/$/6,3!,.!/(6-!),465;=!

.0772==88 .07>0B2=20A 6A@ %8A:<8

J=! ’(&!5,??6//&&H-!5,?),-6/6,3!-($44!&3$04&!6/!/,!.*35/6,3!&..&5/6<&4;!$31!&..656&3/4;=!

J= =! ’(&!:,??6//&&!-($44!0&!5,?),-&1!,.!/(+&&!/+*-/&&-=!

J=A=! E&?0&+-!-($44!0&!$)),63/&1!0;!/(&!0,$+1!5($6+!.,+!$!/(+&&I;&$+!;&$+!/&+?=!E&?0&+-!B644!-&+<&!-/$%%&+&1!/&+?-=!E&?0&+-(6)!,3!/(&!5,??6//&&!B644!0&!+,/$/&1!$?,3%!$44!/+*-/&&-!B6/(!/(&!&C5&)/6,3!0&63%!/($/!$/!4&$-/!,3&!/+*-/&&!B6/(!.63$356$4!&C)&+6&35&!B644!-&+<&!5,3/63*,*-4;=!W[E@!O,B!1,&-!/(6-!B,+9aY!

J=J=! lllll!-($44!-&+<&!$-!:,??6//&&!:($6+=!!U[!’(&!:,??6//&&!-($44!$)),63/!$!:($6+!.+,?!$?,3%!6/-!?&?0&+-!U[!$)),63/&1!0;!/(&!0,$+1!5($6+=!

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

%

Page 62: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

M!"!# $ % &

’(&!UB3&+-(6)!Q639$%&!:,??6//&&!B644!$--6-/!/(&!0,$+1!63!.*4.64463%!6/-!+&-),3-60646/6&-!+&%$+163%!5,33&5/6,3!/,!,B3&+-=!!!

.0772==88 +<0@:3=B9

=! ’(&!5,??6//&&!)+,1*5/-!$+&!/,!-*)),+/!/(&!0,$+1H-!F,02!3&<&+!/,!1&561&!.,+!/(&!0,$+1!*34&--!&C)4656/4;!-/$/&1!0&4,B=!!

= =!L!5*++&3/!,B3&+-(6)!4639$%&!)4$3!/($/!&3$04&-!5,3-/+*5/6<&!0,$+1!16$4,%*&!B6/(!,B3&+-!+&4$/&1!/,!P31-!6--*&-=!

= = =!L3!636/6$4!,B3&+-(6)!4639$%&!)4$3!)+,<61&1!/,!/(&!0,$+1!.,+!1&56-6,3!0;!W1$/&Y=!

= =A=!L3!&<$4*$/6,3!,.!/(&!&..&5/6<&3&--!,.!/(&!)4$3!0;!W1$/&Y!$33*$44;2!B6/(!63)*/!.+,?!/(&!0,$+1=!

= =J=!L3!*)1$/&1!,B3&+-(6)!4639$%&!)4$32!$33*$44;!0;!W1$/&Y2!B6/(!63)*/!.+,?!/(&!0,$+1=!

= =M=!L3!,+%$367&1!B+6//&3!)+&-&3/$/6,3!,.!63.,+?$/6,3!5,44&5/&1!.+,?!%+,*)-!B6/(63!/(&!,B3&+-(6)2!63!$!.,+?$/!*-&.*4!/,!/(&!0,$+1!.,+!P31-!1&460&+$/6,3-2!0;!W1$/&Y!$33*$44;!

.0772==88 #:=D0<2=49

A=! ’(&!:,??6//&&H-!$*/(,+6/;!&3$04&-!6/!/,!$--6-/!/(&!0,$+1!63!6/-!B,+92!B(64&!3,/!63/&+.&+63%!B6/(!0,$+1!(,46-?=!!

A= =!’(&!5,??6//&&!5$33,/!5($3%&!,+!5,3/+$<&3&!0,$+1!),4656&-2!,+!63-/+*5/!/(&!#+&-61&3/!,+!$3;!,/(&+!-/$..!?&?0&+2!,/(&+!/($3!/,!+&V*&-/!63.,+?$/6,3!+&V*6+&1!63!/(&!5,31*5/!,.!6/-!1*/6&-!!

A=A=!’(&!5,??6//&&!?$;!3,/!-)&31!,+!5,??6/!,+%$367$/6,3!.*31-2!,/(&+!/($3!/(,-&!-)&56.65$44;!$44,5$/&1!0;!/(&!0,$+1=!’(&!5,??6//&&!($-!$*/(,+6/;!/,!5,??6/!*)!/,!mlllll!.,+!&C/&+3$4!$--6-/$35&!63!,B3&+-(6)!4639$%&!$5/6<6/6&-=!

A=J=!’(&!5,??6//&&!?$;!*-&!-/$..!+&-,*+5&!/6?&!3,+?$4!.,+!$1?636-/+$/6<&!-*)),+/!$+,*31!?&&/63%-2!$-!B&44!$-!$1?636-/+$/6<&!-*)),+/!6354*1&1!63!/(&!0,$+1H-!,B3&+-(6)!4639$%&!)4$3=!

A=M=!’(&!5,??6//&&!5($6+!($-!/(&!$*/(,+6/;!/,!?$9&!$3;!+&$-,3$04&!63/&+)+&/$/6,3!,.!/(6-!),465;=!

.0772==88 .07>0B2=20A 6A@ %8A:<89

J=! ’(&!:,??6//&&H-!5,?),-6/6,3!-($44!&3$04&!6/!/,!.*35/6,3!&..&5/6<&4;!$31!&..656&3/4;=!

J= =! ! ’(&!:,??6//&&!-($44!0&!5,?),-&1!,.!/(+&&!/+*-/&&-!$)),63/&1!0;!/(&!:($6+=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 UB3&+-(6)!Q639$%&!:,??6//&&!!! ! ’&+?-!,.![&.&+&35&!

5:7;8<@! >#I^=A

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

%!

Page 63: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

T!"!# $ % &

J=A=! ! ’(&!lllllll!-($44!-&+<&!$-!:,??6//&&!:($6+=!

J=J=! ! E&?0&+-!-($44!0&!$)),63/&1!.,+!$!!WaY!;&$+!/&+?!

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

%"

Page 64: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

Z!"!# $ % &

’+*-/&&-!-($44!3,/!+&5&6<&!$3;!5,?)&3-$/6,3!.,+!-&+<65&-!+&31&+&1!0*/!?$;!0&!+&6?0*+-&1!.,+!+&$-,3$04&!&C)&3-&-!635*++&1!63!/(&!5,31*5/!,.!/(&6+!0,$+1!1*/6&-!$-!$*/(,+67&1!0;!/(&!0,$+1=!’(6-!6354*1&-!$44!0,$+1!$31!0,$+1!5,??6//&&!?&&/63%-2!$-!B&44!$-!$3;!?&&/63%!$//&31&1!$/!/(&!16+&5/6,3!,.!/(&!0,$+1=!

S&/$64-!.+,?!&C6-/63%!),465;!,+!)+$5/65&-!5$3!0&!$11&1!$-!1&-6+&1=

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 R,$+1!$31!:,??6//&&!PC)&3-&-! 5:7;8<@! >#I^

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

%#

Page 65: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

]!"!# $ % &

’(&!0,$+1!&C)&5/-!,.!6/-&4.!$31!6/-!?&?0&+-!&/(65$42!0*-63&--I469&!$31!4$B.*4!5,31*5/=!’(6-!6354*1&-!)+,)&+!*-&!,.!$*/(,+6/;!$31!$))+,)+6$/&!1&5,+*?!B(&3!$5/63%!$-!/+*-/&&-=!‘/!&C)&5/-!/+*-/&&-!/,!/+&$/!,3&!$3,/(&+2!-/$..!?&?0&+-2!56/67&3-!,.!8$59-,3!:,*3/;2!-/*1&3/-2!$31!)$+&3/-!B6/(!+&-)&5/2!5,I,)&+$/6,3!$31!$!B64463%3&--!/,!1&$4!,)&34;!,3!$44!?$//&+-=!

=! ’+*-/&&-!?*-/!($<&!4,;$4/;!/,!/(&!,B3&+-(6)!/($/!-*)&+-&1&-!$3;!4,;$4/6&-!/,!-/$..2!6316<61*$4!-/$..!?&?0&+-2!,/(&+!,+%$367$/6,3-!,+!$3;!)&+-,3$4!63/&+&-/!$-!$!5,3-*?&+=!

A=! ’+*-/&&-!$+&!$55,*3/$04&!/,!&C&+56-&!/(&!),B&+-!$31!16-5($+%&!/(&!1*/6&-!,.!/(&6+!,..65&!(,3&-/4;!$31!63!%,,1!.$6/(=!’+*-/&&-!-($44!&C&+56-&!/(&!1&%+&&!,.!5$+&2!1646%&35&!$31!-9644!/($/!$!+&$-,3$04;!)+*1&3/!)&+-,3!B,*41!&C&+56-&!63!5,?)$+$04&!56+5*?-/$35&-=!

J=! ’+*-/&&-!?*-/!$<,61!$!5,3.465/!,.!63/&+&-/!B6/(!+&-)&5/!/,!/(&6+!.61*56$+;!+&-),3-60646/;=!

J= =!’(&+&!?*-/!0&!3,!-&4.I1&$463%!,+!$3;!5,31*5/!,.!)+6<$/&!0*-63&--!,+!)&+-,3$4!-&+<65&-!0&/B&&3!$3;!/+*-/&&!$31!/(&!,+%$367$/6,32!&C5&)/!$-!)+,5&1*+$44;!5,3/+,44&1!/,!$--*+&!,)&33&--2!5,?)&/6/6<&!,)),+/*36/;2!$31!&V*$4!$55&--!/,!,/(&+B6-&!n63-61&o!63.,+?$/6,3=!’+*-/&&-!B644!16-54,-&!$/!/(&!+&%*4$+!?,3/(4;!?&&/63%!$3;!3&B!63<,4<&?&3/-!B6/(!,/(&+!,+%$367$/6,3-2!<&31,+-2!,+!$3;!$--,56$/6,3-!/($/!?6%(/!0&!,+!?6%(/!+&$-,3$04;!0&!-&&3!$-!0&63%!$!5,3.465/=!

J=A=!N(&3!/(&!0,$+1!6-!/,!1&561&!*),3!$3!6--*&2!$0,*/!B(65(!$!/+*-/&&!($-!$3!*3$<,61$04&!5,3.465/!,.!63/&+&-/2!/($/!/+*-/&&!-($44!$0-&3/!(&+-&4.!,+!(6?-&4.!B6/(,*/!5,??&3/!.+,?!3,/!,34;!/(&!<,/&2!0*/!$4-,!.+,?!/(&!1&460&+$/6,3=!’(6-!$0-&35&!-($44!0&!+&5,+1&1!63!/(&!?63*/&-=!

J=J=!’+*-/&&-!B644!3,/!*-&!/(&6+!0,$+1!),-6/6,3!/,!,0/$63!&?)4,;?&3/!B6/(2!,+!.*+36-(!-&+<65&-!,+!%,,1-!/,!/(&!:,44&%&!.,+!/(&?-&4<&-2!.$?64;!?&?0&+-2!,+!$--,56$/&-=!K(,*41!$!/+*-/&&!$))4;!.,+!&?)4,;?&3/2!-(&i(&!?*-/!.6+-/!+&-6%3!.+,?!/(&!0,$+1=!!

M=! ’+*-/&&-!B644!+&-)&5/!/(&!5,3.61&3/6$46/;!$))+,)+6$/&!/,!6--*&-!,.!$!-&3-6/6<&!3$/*+&2!6354*163%!$/!$44!/6?&-!/(&!5,3/&3/!,.!4&%$44;!(&412!54,-&1!?&&/63%-!,.!/(&!0,$+1=!

T=! ’+*-/&&-!-($44!3,/!$//&?)/!/,!&C&+56-&!6316<61*$4!$*/(,+6/;!,<&+!/(&!,+%$367$/6,3=!

T= =!N(&3!63/&+$5/63%!B6/(!-/$..2!/+*-/&&-!?*-/!+&5,%367&!/($/!6316<61*$4!/+*-/&&-!($<&!3,!$*/(,+6/;!/,!63-/+*5/!,+!&<$4*$/&!&?)4,;&&-2!$31!3,!$*/(,+6/;!/,!63-&+/!/(&?-&4<&-!63/,!&?)4,;&&!,)&+$/6,3-=!!!

T=A=!’(&!0,$+1!5($6+!,+!1&-6%3&&!6-!/(&!,34;!)&+-,3!$*/(,+67&1!/,!-)&$9!/,!/(&!)*04652!/(&!?&16$!,+!,/(&+!&3/6/6&-!,3!0&($4.!,.!/(&!0,$+1=!’+*-/&&-!-($44!3,/!)+&-*?&!/,!-)&$9!.,+!/(&!0,$+1!B(&3!63/&+$5/63%!B6/(!/(&!)+&--!,+!/(&!)*0465=!’+*-/&&-!-($44!,34;!+&),+/!$5/*$4!0,$+1!),465;!1&56-6,3-!B(&3!63/&+$5/63%!B6/(!/(&!)+&--!,+!/(&!)*0465=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 R,$+1!:,1&!,.!:,31*5/! 5:7;8<@! >#I h

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

%$

Page 66: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

X!"!# $ % &

Z=! ’+*-/&&-!-($44!0&!.$?646$+!B6/(!/(&!635,+),+$/63%!1,5*?&3/-2!+&4&<$3/!4&%6-4$/6,3!$31!+&%*4$/6,3-2!0;I4$B-2!$31!%,<&+363%!),4656&-!,.!/(&!,+%$367$/6,3!$31!6--*&-!)&+/$6363%!/,!(6%(&+!&1*5$/6,32!$-!B&44!$-!/(&!+*4&-!,.!)+,5&1*+&!$31!)+,)&+!5,31*5/!,.!$!?&&/63%!-,!/($/!$3;!1&56-6,3!,.!/(&!0,$+1!?$;!0&!?$1&!63!$3!&..656&3/2!93,B4&1%&$04&!$31!&C)&16/6,*-!.$-(6,3=!

]=! ’+*-/&&-!B644!0&!)+,)&+4;!)+&)$+&1!.,+!0,$+1!1&460&+$/6,3=!

X=! ’+*-/&&-!B644!5,44$0,+$/&!B6/(!,/(&+!/+*-/&&-!$31!-($+&!63.,+?$/6,3!,3!?$//&+-!,.!-*0-/$35&!+&4$/&1!/,!/(&6+!%,<&+3$35&!+,4&!-,!/($/!3,!,3&!/+*-/&&!),--&--&-!63.,+?$/6,3!/($/!$44!,/(&+!/+*-/&&-!-(,*41!($<&=!

^=! ’+*-/&&-!B644!-*)),+/!/(&!4&%6/6?$5;!$31!$*/(,+6/;!,.!0,$+1!1&56-6,3-2!+&%$+14&--!,.!/(&!?&?0&+H-!)&+-,3$4!),-6/6,3!,3!/(&!6--*&=!!

h=!’+*-/&&-!-($44!5,3-61&+!W:5E+<@.(+"/%#+&/!#)"%1+-%.!FY!5,??*36/;!5,44&%&!)*0465$/6,3-!$31!+&%*4$+4;!/$9&!)$+/!63!&1*5$/6,3$4!$5/6<6/6&-!6354*163%!-/$/&2!+&%6,3$4!$31!3$/6,3$4!?&&/63%-!$31!&<&3/-!/($/!B644!$--6-/!/(&?!63!/(&6+!$0646/;!/,!-&+<&!&..&5/6<&4;!$-!$!?&?0&+!,.!/(&!:,44&%&H-!%,<&+363%!0,$+1=!

=!’+*-/&&-!-($44!(,41!/(&?-&4<&-!$31!,/(&+!/+*-/&&-!$55,*3/$04&!.,+!5,?)4;63%!B6/(!/(6-!:,1&!,.!:,31*5/=!

A=!’+*-/&&-!B(,!$+&!.,*31!/,!($<&!<6,4$/&1!/(&!:,1&!,.!:,31*5/!?$;!0&!-*0F&5/!/,!<&+0$4!,+!B+6//&3!-$35/6,3-=

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

%%

Page 67: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

^!"!# $ % &

:,3-6-/&3/!B6/(!6/-!5,??6/?&3/!/,!&C5&44&35&!63!%,<&+3$35&2!/(&!0,$+1!B644!63<&-/!63!6/-!%,<&+3$35&!5$)$56/;=!!!

=! L3;,3&!B(,!6-2!,+!6-!5,3-61&+63%!0&63%!$!5$3161$/&!.,+!/+*-/&&!-($44!0&!)+,<61&1!B6/(!63.,+?$/6,3!/($/!54&$+4;!,*/463&-!/(&!+,4&!,.!/(&!0,$+1!$31!/(&!0,$+1H-!&C)&5/$/6,3-!,.!/+*-/&&!

A=! R,$+1!-9644-2!?&/(,1-2!$31!-*)),+/-!B644!0&!-*..656&3/!/,!$--*+&!%,<&+363%!B6/(!&C5&44&35&=!

A= =!_&B!/+*-/&&-!-($44!+&5&6<&!$!5,?)4&/&!,+6&3/$/6,3!/,!&3-*+&!.$?646$+6/;!B6/(!/(&!,+%$367$/6,3H-!6--*&-!$31!-/+*5/*+&2!$31!/(&!0,$+1H-!)+,5&--!,.!%,<&+3$35&=!!

A=A=!’+*-/&&-!-($44!($<&!,3%,63%!,)),+/*36/;!.,+!5,3/63*&1!&1*5$/6,3!/,!&3($35&!/(&6+!%,<&+3$35&!5$)$0646/6&-=!

A=J=!U*/+&$5(!?&5($36-?-!B644!0&!*-&1!$-!3&&1&1!/,!&3-*+&!/(&!0,$+1H-!$0646/;!/,!46-/&3!/,!,B3&+!<6&B),63/-!$31!<$4*&-=!

A=M=!U*/-61&!?,36/,+63%!$--6-/$35&!B644!0&!$++$3%&1!-,!/($/!/(&!0,$+1!5$3!&C&+56-&!-*..656&3/!5,3/+,4!,<&+!,+%$367$/6,3$4!)&+.,+?$35&=!’(6-!6354*1&-2!0*/!6-!3,/!46?6/&1!/,!.6-5$4!$*16/=!

J=! :,-/-!B644!0&!)+*1&3/4;!635*++&12!/(,*%(!3,/!$/!/(&!&C)&3-&!,.!&31$3%&+63%!/(&!1&<&4,)?&3/!$31!?$63/&3$35&!,.!-*)&+6,+!%,<&+3$35&!5$)$0646/;=!

J= =!’(&!0,$+1!B644!&-/$046-(!$33*$44;!)+6,+!/,!/(&!0*1%&/!5;54&2!$31!0&!$55,*3/$04&!.,+!$3!$33*$4!0*1%&/!.,+!6/-!,B3!%,<&+3$35&!.*35/6,3-2!B(65(!-($44!6354*1&!.*31-!.,+!0,$+1!$31!0,$+1!5,??6//&&!?&&/63%!5,-/-j!0,$+1!&1*5$/6,32!+&5+*6/?&3/!$31!,+6&3/$/6,3j!5,-/-!,.!.6-5$4!$*16/2!4&%$4!5,*3-&4!$31!$3;!,/(&+!,*/-61&!?,36/,+63%!$--6-/$35&!+&V*6+&1j!$31!5,-/-!,.!?&/(,1-!-*5(!$-!.,5*-!%+,*)-2!-*+<&;-!$31!,)636,3!$3$4;-&-!/,!&3-*+&!/(&!0,$+1H-!$0646/;!/,!46-/&3!/,!,B3&+!<6&B),63/-!$31!<$4*&-=!

M=! ’(&!0,$+1!B644!*-&!6/-!%,<&+3$35&!?&$3-!),4656&-!$-!?&$-*+$04&!-/$31$+1-!$%$63-/!B(65(!/(&!0,$+1H-!)&+.,+?$35&!5$3!0&!&<$4*$/&1=!

M= =!’(&!0,$+1!B644!&<$4*$/&!$31!16-5*--!/(&!0,$+1H-!)+,5&--!$31!)&+.,+?$35&!$/!&$5(!?&&/63%=!

M=A=!b31&+!/(&!4&$1&+-(6)!,.!/(&!5($6+2!$/!4&$-/!$33*$44;!/(&!0,$+1!B644!5,31*5/!$!-&4.I&<$4*$/6,3=!L-!$!+&-*4/!,.!/(6-!&<$4*$/6,32!/(&!0,$+1!B644!&-/$046-(!$!%,<&+3$35&!$5/6,3!)4$3!.,+!6?)+,<&?&3/!,.!61&3/6.6&1!$+&$-=!

M=A= =! ’(&!0,$+1!B644!?,36/,+!6/-!$1(&+&35&!/,!6/-!,B3!>,<&+3$35&!#+,5&--!$31!R,$+1!\!#+&-61&3/!S&4&%$/6,3!),4656&-!+&%*4$+4;=!b),3!/(&!5(,65&!,.!/(&!R,$+12!$3;!),465;!5$3!0&!?,36/,+&1!$/!$3;!/6?&=!O,B&<&+2!$/!?636?*?2!/(&!R,$+1!B644!?,36/,+!6/-!,B3!$1(&+&35&!/,!/(&?2!$55,+163%!/,!/(&!.,44,B63%!-5(&1*4&@!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 ‘3<&-/?&3/!63!>,<&+3$35&! 5:7;8<@! >#I

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

%&

Page 68: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

Ah!"!# $ % &

5:7;8< +01234 $<8E:8A34 F0A=DG/86<

>#! >4,0$4!>,<&+3$35&!:,??6/?&3/

>#I ! >,<&+363%!K/;4&!

>#IA! R,$+1!8,0!:,3/+60*/6,3-!

>#IJ! R,$+1!#4$3363%!:;54&!$31!L%&31$!:,3/+,4!

>#IM! [,4&!,.!/(&!R,$+1!:($6+!

>#IT! [,4&!,.!/(&!g65&!:($6+!

>#IZ! [,4&!,.!R,$+1!K&5+&/$+;!

>#I]! [,4&!,.!/(&!’+&$-*+&+!

>#IX! R,$+1!:,??6//&&!#+6356)4&-!

>#IX= ! L*16/!:,??6//&&!’&+?-!,.![&.&+&35&!

>#IX=A! UB3&+-(6)!Q639$%&!:,??6//&&!’&+?-!,.![&.&+&35&!

>#I^! R,$+1!$31!:,??6//&&!PC)&3-&-!

>#I h! R,$+1!:,1&!,.!:,31*5/!

>#I ! ‘3<&-/?&3/!63!>,<&+3$35&!

>#I A! R,$+1!Q639$%&!B6/(!UB3&+-(6)!

>#I J! R,$+1!Q639$%&!B6/(!U/(&+!U+%$367$/6,3-!

>#I M! K)&56$4![*4&-!,.!U+1&+!

>#I T! O$31463%!U)&+$/6,3$4!:,?)4$63/-!

>#I Z! O$31463%!L44&%&1!#,465;!g6,4$/6,3-!

RES! >4,0$4!R,$+1IE$3$%&?&3/!S&4&%$/6,3!

RESI ! b36/;!,.!:,3/+,4!

RESIA! L55,*3/$0646/;!,.!/(&!:PU!

RESIJ! S&4&%$/6,3!/,!/(&!:PU!

RESIM! E,36/,+63%!:PUH-!#&+.,+?$35&!

RESIT! :PU!:,?)&3-$/6,3!

RESIZ! :PU!’&+?63$/6,3!

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

%’

Page 69: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

A !"!# $ % &

’(&!,B3&+-!,.!8$59-,3!:,44&%&!$+&!1&.63&1!$-!56/67&3-!,.!8$59-,3!:,*3/;=!’(&!0,$+1!-($44!0&!$55,*3/$04&!.,+!/(&!,+%$367$/6,3!/,!6/-!,B3&+-!$-!$!B(,4&=!’+*-/&&-!-($44!$5/!,3!0&($4.!,.!/(&!,B3&+-!$-!$!B(,4&2!+$/(&+!/($3!0&63%!$1<,5$/&-!.,+!-)&56.65!%&,%+$)(65!$+&$-!,+!63/&+&-/!%+,*)-=!

=! N(&3!?$963%!%,<&+3$35&!1&56-6,3-2!/+*-/&&-!-($44!?$63/$63!$!16-/635/6,3!0&/B&&3!/(&6+!)&+-,3$4!63/&+&-/-!$-!5*-/,?&+-!,.!/(&!,+%$367$/6,3H-!-&+<65&-2!$31!/(&6+!,046%$/6,3!/,!-)&$9!.,+!,/(&+-!$-!$!+&)+&-&3/$/6<&!,.!/(&!,B3&+-!$-!$!B(,4&=!L-!/(&!$%&3/!,.!/(&!,B3&+-2!/(&!0,$+1!6-!,046%$/&1!/,!61&3/6.;!$31!93,B!B($/!/(&!,B3&+-!B$3/!$31!3&&1=!

A=! ’(&!0,$+1!-($44!%$/(&+!1$/$!63!$!B$;!/($/!+&.4&5/-!/(&!16<&+-6/;!,.!/(&!,B3&+-(6)=!‘/!-($44!?&&/!B6/(2!%$/(&+!63)*/!.+,?2!$31!,/(&+B6-&!63/&+$5/!B6/(!,B3&+-!63!,+1&+!/,!*31&+-/$31!/(&!16<&+-6/;!,.!/(&6+!<$4*&-!$31!)&+-)&5/6<&-=!

J=! ’(&!0,$+1!B644!&-/$046-(!$31!?$63/$63!$!/(+&&I;&$+!,B3&+-(6)!4639$%&!)4$32!63!,+1&+!/,!&3-*+&!/($/!/(&!0,$+1!($-!63/&3/6,3$4!$31!5,3-/+*5/6<&!16$4,%*&!$31!1&460&+$/6,3!B6/(!/(&!,B3&+-2!)+6?$+64;!$+,*31!/(&!,+%$367$/6,3H-!P31-=!’(&!)4$3!B644!6354*1&!-&4&5/6,3!,.!+&)+&-&3/$/6<&!,B3&+-!.,+!16$4,%*&2!?&/(,1-!/,!0&!*-&12!$31!V*&-/6,3-!/,!0&!$-9&1!,.!/(&!,B3&+-=!’(&!63.,+?$/6,3!,0/$63&1!.+,?!/(6-!16$4,%*&!B6/(!,B3&+-!B644!0&!*-&1!/,!63.,+?!/(&!0,$+1H-!),465;!1&460&+$/6,3-=!

J= =!L44!/+*-/&&-!$+&!$55,*3/$04&!/,!/(&!0,$+1!.,+!)$+/656)$/63%!63!/(&!4639$%&!B6/(!,B3&+-!$-!61&3/6.6&1!63!/(&!)4$3=!

M=! ’(&!0,$+1!B644!5,3-61&+!6/-!,B3&+-(6)!4639$%&!-*55&--.*4!6.2!/,!$!5,3/63*$44;!635+&$-63%!1&%+&&@!

! N(&3!1&<&4,)63%!,+!+&<6-63%!P31-2!/(&!0,$+1!($-!$55&--!/,!16<&+-&!<6&B),63/-!/($/!$+&!+&)+&-&3/$/6<&!,.!/(&!,B3&+-(6)!+&%$+163%!B($/!0&3&.6/-!/(6-!,+%$367$/6,3!-(,*41!)+,<61&2!.,+!B(,?2!$31!/(&!+&4$/6<&!)+6,+6/;!,.!/(,-&!0&3&.6/-=!

! ’(&!,B3&+-!$+&!$B$+&!/($/!/(&!0,$+1!6-!63/&+&-/&1!63!/(&6+!)&+-)&5/6<&=!

! ‘.!$-9&12!/(&!,B3&+-!B,*41!-$;!/($/!/(&;!($<&!($1!,)),+/*36/;!/,!4&/!/(&!0,$+1!93,B!/(&6+!<6&B-=!

! ’(&!,B3&+-!$+&!$B$+&!,.!(,B!/(&!0,$+1!($-!*-&1!/(&!63.,+?$/6,3!/(&;!)+,<61&1=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 R,$+1!Q639$%&!B6/(!UB3&+-(6)! 5:7;8<@! >#I A

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

%(

Page 70: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

AA!"!# $ % &

’(&!0,$+1!-($44!61&3/6.;!,/(&+!,+%$367$/6,3-!B6/(!B(65(!6/!+&V*6+&-!%,,1!B,+963%!+&4$/6,3-(6)-!63!,+1&+!/,!-($+&!$31!&3($35&!6/-!+,4&!$-!,B3&+!+&)+&-&3/$/6<&!63!1&/&+?6363%!/(&!?,-/!$))+,)+6$/&!P31-=!!!

=! ’(&!0,$+1!-($44!&-/$046-(!?&5($36-?-!.,+!?$63/$6363%!,)&3!5,??*365$/6,3!B6/(!.&1&+$42!-/$/&!$31!4,5$4!%,<&+363%!0,16&-!$31!,/(&+!)*0465!$31!)+6<$/&!&3/6/6&-!+&%$+163%!P31-=!K*5(!?&5($36-?-!?$;!6354*1&2!0*/!$+&!3,/!46?6/&1!/,@!

! ‘3<6/63%!+&)+&-&3/$/6<&-!,.!/(,-&!,+%$367$/6,3-!/,!0,$+1!?&&/63%-!

! E&&/63%!F,63/4;!B6/(!,/(&+!0,$+1-!,3!,55$-6,3!

A=! D,+!,+%$367$/6,3$4!?&?0&+-(6)-!+&4&<$3/!/,!%,<&+3$35&2!/(&!0,$+1!-($44!5,3-61&+!/(&!?&+6/-!,.!?&?0&+-(6)!63!,/(&+!,+%$367$/6,3-!$33*$44;=!

J=! b),3!+&V*&-/!.,+!:,44&%&!$)),63/?&3/-!/,!&C/&+3$4!5,??6//&&-!5,35&+3&1!B6/(!%,<&+3$35&!6--*&-2!/(&!0,$+1!B644!$--&--!B(&/(&+!-*5(!+&)+&-&3/$/6,3!6-!$))+,)+6$/&!B6/(63!/(&!0,$+1H-!-/$/&1!),4656&-!$31!5*++&3/!)+6,+6/6&-=!‘.!/(6-!$--&--?&3/!6-!),-6/6<&2!/(&!0,$+1!B644!$)),63/!$))+,)+6$/&!+&)+&-&3/$/6<&-=!‘--*&-!,.!5,3.61&3/6$46/;2!63.,+?$/6,3!-($+63%!$31!$1?636-/+$/6<&!-*)),+/!-($44!0&!54$+6.6&1!.,+!/(&!$)),63/&&!0;!/(&!0,$+1!:($6+!$31i,+!#+&-61&3/=!!Wb-&!,34;!6.!:,44&%&!%&/-!$-9&1!.,+!-*5(!$)),63/?&3/-=Y!

J= =!’(&!:,44&%&!$)),63/&&!-($44!)+,<61&!63.,+?$/6,3!+&),+/-!$-!$))+,)+6$/&2!/,!0&!1&/&+?63&1!0;!/(&!0,$+1!$/!/(&!/6?&!,.!$)),63/?&3/=!

M=! K635&!/(&!$)),63/&&!6-!+&)+&-&3/63%!/(&!0,$+12!/(&!$)),63/&&!-($44!0&!9&)/!63.,+?&1!,.!5*++&3/!0,$+1!),4656&-!/($/!?6%(/!$..&5/!1&460&+$/6,3-!,.!/(&!:,??6//&&!63!V*&-/6,3=!L3;!+&)+&-&3/$/6,3-!?$1&!,3!0&($4.!,.!/(&!0,$+1!-($44!$1(&+&!/,!/(&!-/$/&1!),4656&-!,.!/(&!0,$+1=!!L3;!6--*&-!+&V*6+63%!/(&!-/$/&?&3/!,.!$!3&B!),465;!),-6/6,3!,3!/(&!)$+/!,.!/(&!0,$+1!-($44!0&!0+,*%(/!/,!/(&!0,$+1!.,+!1&56-6,3=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 R,$+1!Q639$%&!B6/(!PC/&+3$4!! !! ! U+%$367$/6,3-!

5:7;8<@! >#I J

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

&)

Page 71: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

AJ!"!# $ % &

R,$+1!?&&/63%-!B644!0&!5,31*5/&1!63!$3!,+1&+4;2!&..&5/6<&!)+,5&--2!4&1!$31!1&.63&1!0;!/(&!:($6+=!

=! L44!0;I4$B!,046%$/6,3-!+&-)&5/63%!0,$+1!?&&/63%-!?*-/!0&!-$/6-.6&1=!

A=! R,$+1!?&&/63%-!-($44!0&!5$44&1!/,!,+1&+!$/!/(&!/6?&!-)&56.6&1!63!/(&!3,/65&!,.!?&&/63%!$31!*),3!-$/6-.$5/6,3!,.!V*,+*?=!

J=! ’+*-/&&-!B644!3,/!)+&-&3/!$3!6/&?!.,+!$5/6,3!,+!16-5*--6,3!$/!$!0,$+1!?&&/63%!6.!6/!6-!3,/!,3!/(&!$%&31$=!

M=! E&&/63%!,+1&+!$31!1&5,+*?!-($44!0&!?$63/$63&1!$31!$44!?&?0&+-!/+&$/&1!B6/(!16%36/;2!+&-)&5/2!5,*+/&-;2!$31!.$6+3&--!1*+63%!16-5*--6,3!$31!1&0$/&!$31!63!$44!,/(&+!+&-)&5/-=!

T=! ’+*-/&&-!?*-/!9&&)!/(&6+!5,??&3/-!+&4&<$3/!/,!/(&!6--*&!*31&+!5,3-61&+$/6,3=!

Z=! R,$+1!?&&/63%-!B644!0&!5,31*5/&1!$/!$!4&<&4!,.!63.,+?$46/;!5,3-61&+&1!$))+,)+6$/&!0;!/(&!5($6+2!6354*163%!/($/!16-5*--6,3!,.!$!?$//&+!?$;!e-.?+!/(f!,55*+!)+6,+!/,!$!)+,),-$4!/($/!$5/6,3!0&!/$9&3!,3!$3;!%6<&3!-*0F&5/=!

]=! R,$+1!1&56-6,3-!B644!0&!?$1&2!/,!/(&!&C/&3/!),--604&2!,3!/(&!0$-6-!,.!5,3-&3-*-=!

X=! N(&+&!5,3-&3-*-!6-!3,/!),--604&2!)+,),-$4-!/($/!/(&!0,$+1!/$9&!$5/6,32!,+!1&561&!$!)$+/65*4$+!?$//&+2!-($44!0&!?$1&!0;!?$63!?,/6,3!,.!$!/+*-/&&2!16-5*--&12!$31!/(&3!<,/&1!,3=!E,/6,3-!e"/+!/(f!+&V*6+&!$!-&5,31!/,!)+,5&&1!/,!16-5*--6,3!$31!-*0-&V*&3/!<,/&=!

X= =! ’(&!:($6+!?$;!e!/(f!/,!/(&!-$?&!&C/&3/!$-!$3;!0,$+1!?&?0&+2!?$9&!?,/6,3-2!&3%$%&!63!1&0$/&2!,+!<,/&!,3!$3;!?$//&+!/,!0&!1&561&12!e%$&%D(+(/+&@.!6%+(@%+/’(&/-%+/>+.+"%&)#)/!f=!

X=A=! L!?,/6,3!/,!$?&31!$!?$63!?,/6,3!?$;!0&!$?&31&1!0*/!/(6+1!4&<&4!$?&31?&3/-!$+&!,*/!,.!,+1&+=!

X=J=! L!?,/6,3!/,!+&.&+!/,!$!5,??6//&&2!),-/),3&2!,+!/$04&2!?$;!0&!?$1&!B6/(!+&-)&5/!/,!$!)&3163%!?$63!?,/6,32!$31!6.!5$++6&1!-($44!-&/!/(&!?$63!?,/6,3!e/(&!636/6$4!)+,),-$4f!$-61&!$55,+163%4;=!

^=! ’+*-/&&-!?$;!-)&$9!/,!$!)&3163%!?,/6,3!,3!$-!?$3;!,55$-6,3-2!$31!$/!-*5(!4&3%/(2!$-!/(&!:($6+!?$;!+&$-,3$04;!$44,B=!

h=!L!<,/&!,3!$!?,/6,3!-($44!0&!/$9&3!B(&3!16-5*--6,3!&31-!0*/!$3;!/+*-/&&!?$;2!1*+63%!/(&!5,*+-&!,.!1&0$/&2!?,<&!.,+!$3!6??&16$/&!<,/&!e54,-&!1&0$/&f!B(65(2!6.!5$++6&12!-($44!&31!16-5*--6,3!$31!/(&!<,/&!,3!/(&!?$63!?,/6,3!-($44!/(&3!0&!/$9&3=!

=!L!?$F,+6/;!<,/&!B644!1&561&!$44!?,/6,3-!0&.,+&!/(&!0,$+1!&C5&)/63%!/(,-&!?$//&+-!63!/(&!0;I4$B-!B(65(!,046%&!$!(6%(&+!4&<&4!,.!$))+,<$4=!

= =! L!1&56-6,3!/,!16-5,3/63*&!/(&!0,$+1H-!*-&!,.!#,465;!>,<&+3$35&!5$3!,55*+!,34;!0;!?$F,+6/;!<,/&!,.!/(&!&3/6+&!0,$+1=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 K)&56$4![*4&-!,.!U+1&+! 5:7;8<@! >#I M

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

&

Page 72: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

AM!"!# $ % &

A=!R,$+1!1&56-6,3-!$0,*/!),4656&-!$31!+&<6-6,3-!/,!),4656&-!B644!0&!5,3-61&+&1!,34;!$./&+!.6+-/!$31!-&5,31!+&$163%!$/!$!?636?*?!,.!/B,!?&&/63%-!*34&--!/(&!0,$+1!B$6<&-!/(6-!+&V*6+&?&3/!$31!$*/(,+67&-!6??&16$/&!&..&5/=!

J=!L!?,/6,3!/,!$1F,*+3!$!0,$+1!?&&/63%!?$;!0&!,..&+&1!0;!$3;!/+*-/&&!,+2!,3!/(&!5,354*-6,3!,.!$44!0*-63&--2!$1F,*+3?&3/!,.!/(&!?&&/63%!?$;!0&!1&54$+&1!0;!/(&!:($6+=!

M=!L!/+*-/&&!?$;!+&V*&-/!/,!($<&!(6-!,+!(&+!<,/&!,3!/(&!+&5,+1=!

T=!N(&3!.*+/(&+!+*4&-!,.!,+1&+!$+&!/,!0&!1&<&4,)&1!0;!/(&!0,$+12!/(&!0,$+1!B644!5,3-61&++G A6AH+:/=%1(I#+:’8%#+/>+J1"%1+K%<8?+:%*)#%"L!$-!$!+&-,*+5&!%*61&=!

c&44,B!(6%(46%(/!63165$/&-!$!5(,65&!/,!0&!?$1&!0;!/(&!0,$+1!$-!/,!6/-!)+&.&+&35&=

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

&!

Page 73: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

AT!"!# $ % &

’,!&3-*+&!/($/!/(&!0,$+1!.*4.64-!6/-!$55,*3/$0646/;!/,!/(&!,B3&+-(6)2!0*/!1,&-!3,/!63/&+.&+&!63!?$//&+-!6/!($-!1&4&%$/&1!/,!/(&!#+&-61&3/2!/(&!.,44,B63%!)+,5&--!-($44!0&!.,44,B&1!63!/(&!5$-&!,.!$!/+*-/&&!+&5&6<63%!$!5,?)4$63/!+&%$+163%!$3!,)&+$/6,3$4!?$//&+=!

=! ’(&!/+*-/&&!-($44!63V*6+&!6.!/(&!)+,)&+!63/&+3$4!5,??*365$/6,3!)+,/,5,4!.,+!+&%6-/&+63%!5,35&+3-!($-!0&&3!.,44,B&1=!‘.!3,/2!/(&!6316<61*$4!-($44!0&!16+&5/&1!/,!/(&!$))+,)+6$/&!)&+-,32!$31!/(&!/+*-/&&!-($44!/$9&!3,!.*+/(&+!$5/6,3=!

A=! ’(&!/+*-/&&!-($44!3,/!,..&+!$3;!&<$4*$/6<&!5,??&3/-!,+!-,4*/6,3-=!

J=! ‘.!/(&!63/&+3$4!)+,/,5,4!($-!0&&3!.,44,B&1!$31!/(&!5,35&+3!($-!3,/!0&&3!+&-,4<&1!/(+,*%(!/($/!$5/6,32!/(&!/+*-/&&!-($44!&C)4$63!/,!/(&!6316<61*$4!/($/!/(&!0,$+1!($-!1&4&%$/&1!5&+/$63!+&-),3-60646/6&-!/,!/(&!#+&-61&3/2!$31!/($/!/(&!0,$+1!(,41-!/(&!#+&-61&3/!$55,*3/$04&=!!‘3165$/&!/($/!/(&!#+&-61&3/!B644!0&!$-9&1!/,!&3-*+&!/($/!/(&!?$//&+!6-!4,,9&1!63/,!$31!+&-),31!16+&5/4;=!!!

M=! ’(&!/+*-/&&!-($44!$-9!/(&!6316<61*$4!/,!5,3/$5/!(6?!,+!(&+!$%$63!6.!/(&!?$//&+!($-!3,/!0&&3!$11+&--&1!B6/(63!$!+&$-,3$04&!/6?&!)&+6,1=!

T=! ’(&!/+*-/&&!-($44!63.,+?!/(&!#+&-61&3/!,+!6316<61*$4!1&-6%3$/&1!0;!/(&!#+&-61&3/!,.!/(&!5,?)4$63/2!$31!+&V*&-/!/($/!6/!0&!($314&1=!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 O$31463%!U)&+$/6,3$4!:,?)4$63/-! 5:7;8<@! >#I T

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

&"

Page 74: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

AZ!"!# $ % &

’(&!0,$+1!$-!$!B(,4&!($-!/(&!+&-),3-60646/;!/,!+&%*4$+4;!?,36/,+!/(&!)&+.,+?$35&!,.!/(&!#+&-61&3/!$-!,*/463&1!63!/(&!),4656&-!,3!R,$+1I#+&-61&3/!S&4&%$/6,3=!‘.!/(&+&!6-!$!+&$-,3$04&!$))&$+$35&!,.!),465;!<6,4$/6,32!&<&3!/(,*%(!$!)$+/65*4$+!),465;!6-!3,/!-5(&1*4&1!.,+!?,36/,+63%2!/(&!0,$+1!?$;!5(,,-&!/,!+&V*&-/!$!?,36/,+63%!+&),+/!$/!$3;!/6?&=!’(&!0,$+1!?$;!$4-,!*-&!/(&!,55$-6,3!,.!$!5,35&+3!/,!+&I&<$4*$/&!/(&!$1&V*$5;!,.!6/-!),465;!/,!$11+&--!/(&!6--*&!+$6-&1=!

=! :,316/6,3-!B(65(!?$;!/+6%%&+!$!+&V*&-/!.,+!?,36/,+63%!0&;,31!/(&!3,+?$4!-5(&1*4&!?$;!6354*1&@!

! ’+*-/&&!($-!0&&3!5,3/$5/&1!+&%$+163%!$!5,?)4$63/!0;!$!?&?0&+!,.!/(&!,B3&+-(6)!,+!$!5*-/,?&+=!L./&+!/(&!0,$+1!?&?0&+!($-!.,44,B&1!/(&!)+,5&1*+&!.,+!($31463%!5,?)4$63/-!eK&&!>#I Z!#,465;!,3!O$31463%!:,?)4$63/-f2!/(&!6316<61*$4!$%$63!5,3/$5/-!/(&!/+*-/&&!63165$/63%!/($/!/(&!5,?)4$63/!-/644!&C6-/-2!$31!63!/(&!/+*-/&&H-!,)636,3!/(&!63561&3/!$))&$+-!/,!0&!$!),/&3/6$4!),465;!<6,4$/6,3=!

! U3&!,+!?,+&!/+*-/&&-!+&5&6<&!5,?)4$63/-!,+!0&5,?&!$B$+&!,.!$!)$//&+3!,.!-6?64$+!63-/$35&-!/($/!/$9&3!/,%&/(&+!+$6-&!V*&-/6,3-!,.!%&3&+$4!),465;!<6,4$/6,3=!

! L!-63%4&!63561&3/!,.!5,?)4$63/!6-!,.!$!3$/*+&!/($/!+&%$+14&--!,.!(,B!6/!6-!+&-,4<&12!/(&+&!6-!$!-&+6,*-!V*&-/6,3!,.!),465;!<6,4$/6,3=!

A=! ‘.!$3;!,.!/(&!$0,<&!5,316/6,3-!&C6-/@!

! ’(&!/+*-/&&!-($44!63.,+?!/(&!:($6+!,.!/(&!-6/*$/6,3=!

! ‘.!/(&!$44&%&1!-6/*$/6,3!)+&-&3/-!$!?$/&+6$4!4&<&4!,.!+6-9!/,!/(&!,+%$367$/6,32!/(&!5($6+!-($44!5$44!$!-)&56$4!?&&/63%!,.!/(&!0,$+1!$-!-,,3!$-!)+$5/65$04&!$31!/(&!0,$+1!-($44!1&/&+?63&!6.!e$f!6/!3&&1-!/,!-&&9!4&%$4!5,*3-&42!$31i,+!e0f!&3%$%&!$3!&C/&+3$42!V*$46.6&12!631&)&31&3/!/(6+1!)$+/;!

! ‘.!/(&!$44&%&1!-6/*$/6,3!1,&-!3,/!)+&-&3/!$!-*..656&3/!4&<&4!,.!+6-9!.,+!/(&!$0,<&!)+,5&--2!/(&!:($6+!-($44!+&V*&-/!/(&!#+&-61&3/!/,!)+,<61&!/,!/(&!0,$+1!(6-!,+!(&+!63/&+)+&/$/6,3!,.!/(&!),465;2!,+!/(&!+&4&<$3/!)$+/-!,.!/(&!),465;2!$4,3%!B6/(!+$/6,3$4&!.,+!B(;!/(&!63/&+)+&/$/6,3!-(,*41!0&!5,3-61&+&1!+&$-,3$04&=!

! ’(&!0,$+1!-($44!1&/&+?63&!B(&/(&+!/(&!#+&-61&3/H-!63/&+)+&/$/6,3!.$44-!B6/(63!$3;!+&$-,3$04&!63/&+)+&/$/6,3!,.!/(&!),465;2!,+!B(&/(&+!/,!+&V*&-/!$3!,)636,3!+&%$+163%!+&$-,3$04&3&--!.+,?!$!V*$46.6&12!&C/&+3$42!16-63/&+&-/&1!/(6+1!)$+/;=!

! ’(&!0,$+1!-($44!1&/&+?63&!B(&/(&+!/,!+&V*&-/!&<61&35&!,.!5,?)46$35&!B6/(!/(&!63/&+)+&/$/6,3!.+,?!/(&!#+&-61&3/!,+!$!V*$46.6&12!&C/&+3$42!16-63/&+&-/&1!/(6+1!)$+/;=!

! ’(&!0,$+1!$-!$!B(,4&!-($44!1&/&+?63&!B(&/(&+!/(&!#+&-61&3/H-!63/&+)+&/$/6,3!.$44-!B6/(63!$3;!+&$-,3$04&!63/&+)+&/$/6,3!,.!/(&!),465;=!

J=! ‘.!/(&!#+&-61&3/H-!63/&+)+&/$/6,3!6-!$--&--&1!0;!/(&!0,$+1!/,!0&!+&$-,3$04&!$31!/(&+&!6-!&<61&35&!,.!5,?)46$35&!B6/(!/($/!63/&+)+&/$/6,32!/(&!?$//&+!-($44!0&!1+,))&1!$/!/(&!0,$+1!4&<&4=!e’(&!#+&-61&3/!B644!($314&!/(&!6--*&!16+&5/4;!B6/(!/(&!5,?)4$63$3/=f!

!"#$% &’#"! ’$ %"()%**) +’,-./

+01234 56789 O$31463%!L44&%&1!#,465;!g6,4$/6,3-! 5:7;8<@! >#I Z

!6=8 #>><0?8@9

+01234 %4>89!!>,<&+3$35&!#+,5&--! !6=8 #78A@8@9

!6=8 ,6B= "8?28C8@9

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

&#

Page 75: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

A]!"!# $ % &

M=! ‘.!/(&!#+&-61&3/H-!63/&+)+&/$/6,3!6-!$--&--&1!0;!/(&!0,$+1!$-!3,/!0&63%!$!+&$-,3$04&!63/&+)+&/$/6,3!,.!/(&!),465;2!,+!/(&+&!6-!$!54&$+!<6,4$/6,3!,.!$!+&$-,3$04&!63/&+)+&/$/6,32!/(&!0,$+1!-($44!1&/&+?63&!/(&!1&%+&&!,.!-&+6,*-3&--!,.!/(&!6--*&!$31!1&$4!B6/(!/(&!#+&-61&3/!+&%$+163%!)&+.,+?$35&=!

T=! ‘.!/(&!63561&3/e-f!63!V*&-/6,3!1,e&-f!3,/!$))&$+!/,!0&!$!),/&3/6$4!<6,4$/6,3!,.!),465;@!

! ’(&!/+*-/&&!-(,*41!5,3-61&+!6.!(&!,+!-(&!0&46&<&-!/(&!),465;!-(,*41!0&!$?&31&1!/,!)+&<&3/!$!.*/*+&!,55*++&35&!,.!$!-6?64$+!-6/*$/6,3=!

! ‘.!/(&!/+*-/&&!5,3-61&+-!/($/!$!),465;!$?&31?&3/!-(,*41!0&!?$1&2!/(&!0,$+1!?&?0&+!-(,*41!$-9!/(&!:($6+!/,!)*/!/(&!6/&?!,3!/(&!3&C/!$%&31$=!

Z=! ’(&!0,$+1!$-!$!B(,4&!/(&3!-($44!1&0$/&!B(&/(&+!,+!3,/!/(&!),465;!-(,*41!0&!$?&31&12!?$963%!/(&!+&),+/&1!&<&3/!&C)4656/4;!*3$55&)/$04&!63!/(&!.*/*+&=!

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’?#@%&3/3!%’A&#!%::’B"%C:’8#&’D2:!9::2#3

&$

Page 76: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

BOARD OF TRUSTEES MEETING Action & Information Report

Board Meeting Date: October 14, 2019

TO: Jackson College Board of Trustees FROM: Dr. Daniel J. Phelan, President

Subject to be Discussed and Policy Reference:

7.1 Treasurer’s Report: FY ’20 Q1

(BOARD POLICY: Governance Process: Governing Style)

Enclosed is the 1st quarter financial report for FY’ 20, as required by the Board.

I will be providing an overview and addressing any questions you have. Recall that, in deference to the Policy Governance Model, I will be providing these reports to the Board in the future.

Resource Impact:

None

Requested Board Action:

None

Action Taken:

None

Page 77: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’B38#&C/"2#3’E%F9%:"%0’$G’"<%’.#/&0

&&

Page 78: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’B38#&C/"2#3’E%F9%:"%0’$G’"<%’.#/&0

&’

Page 79: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication
Page 80: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

F(,&89!,!*"&#"/& ((.A&

ZCBABD@A[[Y&A&b‘ODQ

d*9.!"5A& Z[D?Ab@[&A&?OCQ

-+*)(+,;&8#N(.A& ZBA[bbA‘bB&A&

C?ObQ

=,#,(&X))+*)+!#,!*".A&

Z?ABC?ADB[&A&C_O@Q

<,1(+&’(M("9(.A& ZBbDAb‘_&A&

CO‘Q

’(M("9(&:;&=*9+$(

F(,&89!,!*"&#"/& ((.

d*9.!"5

-+*)(+,;&8#N(.

=,#,(&X))+*)+!#,!*".

<,1(+&’(M("9(.

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’B38#&C/"2#3’E%F9%:"%0’$G’"<%’.#/&0

’)

Page 81: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

V#5(.&#"/&6("(7!,.A&

ZbA@‘@A‘CB&A&[[O_Q

=,#77!"5&X5("$;A& ZDB_A[?[&A&

YObQ

8+#".7(+.A& ZB@CAB[@&A&CODQ

0(:,&=(+M!$(A& ZCABCBA@@?&A&

CCOBQ

4#)!,#%&Pe9!)>(",A&

Z‘BAYDB&A&@O‘Q<,1(+&<)(+#,!"5&PN)(".(.A&

ZBA‘@CA@_C&A&BBOBQ

PN)("/!,9+(.&:;&=*9+$(

V#5(.&#"/&6("(7!,.

=,#77!"5&X5("$;

8+#".7(+.

0(:,&=(+M!$(

4#)!,#%&Pe9!)>(",

<,1(+&<)(+#,!"5

PN)(".(.

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’B38#&C/"2#3’E%F9%:"%0’$G’"<%’.#/&0

Page 82: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication
Page 83: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

2#$3.*"&4*%%(5(

6#%#"$(&=1((,

69!%/!"5&#"/&=!,(& 9"/&S& ]&B@

=(),(>:(+&?@A&B@CD

-+(%!>!"#+;&S&^"#9/!,(/

H$15>1#2-6#>-

?1*!-X$#>

=%%!*%

4#.1 ?A_[YA‘D?Z&&&&&&&

W"M(.,>(",. S

X$$*9",.&+($(!M#:%( B@AB[[

09(&7+*>&*,1(+&79"/. a?@@c

9/*65-6%%!*% ?A__YA‘‘Y

;16Z151*1!%-6#>-X$#>-H656#4!

X$$*9",.&)#;#:%( DBABb‘

<,1(+&%!#:!%!,!(. bD_

9/*65-516Z151*1!% DBADbC

9"/&:#%#"$( ?AbY[A‘Y_

9/*65-516Z151*1!%-6#>-:$#>-Z656#4! ?A__YA‘‘YZ&&&&&&&

2#$3.*"&4*%%(5(

=,#,(>(",&*7&41#"5(.&!"& 9"/&6#%#"$(

69!%/!"5&#"/&=!,(& 9"/

*+&,1(&81+((&E*",1.&P"/(/&=(),(>:(+&?@A&B@CD

-+(%!>!"#+;&S&^"#9/!,(/

H656#4!

-\$5A-FM-DEFG !"!#$! &’(!#>1*$,!%

H656#4!

?!(*!8Z!,-PEM-DEFG

E#L*+&E#!",("#"$(

#"/&Pe9!)>(",&’()%#$(>(", ‘ACb[A@@?Z&&&&&&& BCCAB@[Z&&&&&&&&&& bD@A_BCZ&&&&&&&&&& ?AbY[A‘Y_Z&&&&&&&&&&&&&&&&

8*,#% ‘ACb[A@@?Z&&&&&&& BCCAB@[Z&&&&&&&&&& bD@A_BCZ&&&&&&&&&& ?AbY[A‘Y_Z&&&&&&&&&&&&&&&&

!"#$%&’()*’+,(-’.#/&0’1%%"234’5’B38#&C/"2#3’E%F9%:"%0’$G’"<%’.#/&0

’"

Page 84: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication
Page 85: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication
Page 86: 0-1$2**$’3**24&+’ 5*+1)!-’3**24&+’63%&.!78’92%:*-’;;? … · 2019-10-31 · 5.2 Ownership Linkage Committee Update (BOARD POLICY: EXECUTIVE LIMITATIONS: Communication

BOARD OF TRUSTEES MEETING Action & Information Report

Board Meeting Date: October 14, 2019

TO: Jackson College Board of Trustees FROM: Dr. Daniel J. Phelan, President

Subject to be Discussed and Policy Reference:

8.1 Principles of Policy Governance

(BOARD POLICY: Governance Process: Governing Style)

This time has been set aside for the Board, as part of our continuous improvement work in order, to assess the Board’s work and commitment towards the ten Policy Governance principles, as well as its governance practice.

The URL link below will provide an overview of the principles that you can use for determining the effectiveness and efficacy of the Board’s work both in terms of this meeting and in general governance practice.

https://governforimpact.org/resources/principles-of-policy-governance.html

Resource Impact:

None

Requested Board Action:

None

Action Taken:

None