Board Justification

The compensation philosophy for Mondelez International aims to align executive pay with company performance, focusing on long-term shareholder value creation. The compensation structure is designed to attract, retain, and motivate talented executives by offering competitive pay packages that include a mix of fixed and variable components, with a significant portion at risk based on performance metrics.

Board Justification

The bonus for Dirk Van de Put is part of the Annual Incentive Plan (AIP) which is based on achieving specific financial and strategic objectives. For 2023, the financial performance rating was 159% and the Strategic Progress Indicator (SPI) rating was 113%, resulting in a total incentive payment of $4,417,500, which is 150% of the target incentive.

Board Justification

Other compensation for Dirk Van de Put includes personal use of company aircraft ($348,682), car allowance ($23,333), financial counseling allowance ($10,000), employer contributions on defined contribution plans ($539,725), tax preparation expenses ($1,916), and other benefits.

Board Justification

The vested stock for Dirk Van de Put includes Performance Share Units (PSUs) from the 2021-2023 performance cycle. The final business performance rating for this cycle was 200%, resulting in 307,340 shares being earned.