ELEMENTS OF EXECUTIVE COMPENSATION
Our executive compensation programs include the following material elements:
• base salary;
• annual incentive bonus;
• long-term equity-based incentives, including performance shares, performance stock options, and restricted stock;
• medical and other insurance benefits; and
• retirement benefits.
Our annual incentive program rewards:
• Valero’s attainment of key financial performance measures;
• Valero’s success in key operational and strategic measures;
• safe operations; • environmental responsibility;
• reliable operations; and • cost management.
Our long-term equity incentive awards are designed to tie the executive's financial reward opportunities with rewards to stockholders as measured by:
• long-term stock price performance;
• payment of regular dividends; and
• increased stockholders’ return-on-investment.
Our executive compensation programs include the following material elements:
• base salary;
• annual incentive bonus;
• long-term equity-based incentives, including performance shares, performance stock options, and restricted stock;
• medical and other insurance benefits; and
• retirement benefits.
Our annual incentive program rewards:
• Valero’s attainment of key financial performance measures;
• Valero’s success in key operational and strategic measures;
• safe operations; • environmental responsibility;
• reliable operations; and • cost management.
Our long-term equity incentive awards are designed to tie the executive's financial reward opportunities with rewards to stockholders as measured by:
• long-term stock price performance;
• payment of regular dividends; and
• increased stockholders’ return-on-investment.