Board Justification

Our executive compensation program is designed to drive and reward corporate performance annually and over the long term, as measured by increasing shareholder value. Compensation also must be internally equitable and externally competitive and meet the following core objectives: Pay for Performance, Sustain and Strengthen the Franchise, Align Risk and Reward, Align Employees with Shareholders

Board Justification

Annual incentive compensation is based on company and business line profitability, the Committee exercises discretion that allows it to best align executive officer performance with pay during the year.

Board Justification

Club membership dues, 401(k) matching contributions, Life and long-term disability insurance premiums, Dividends from Mutual Fund Restricted Share Program, Dividends from restricted PJC common stock

Board Justification

The value realized upon vesting of the stock awards is based on the $78.85, $76.05, and $75.90 closing sale price of our common stock on the New York Stock Exchange on February 16, 17, and 21, 2017, respectively, the dates on which restricted stock awards granted in previous years vested, or the first trading date during which the New York Stock Exchange was open following the date on which the award vested.