2022 Annual Meeting Proxy Statement

(5)

All Other Compensation detail for 2021 is shown in a separate table appearing on the next page.

(6)

To demonstrate how year-over-year changes in pension value impact total compensation, as determined under SEC rules, we have included this column to show total compensation without pension value changes. The amounts reported in this column are calculated by subtracting the change in pension value reported in the Change in Pension Value and Nonqualified Deferred Compensation Earnings column, from the amounts reported in the Total Compensation column. The amounts reported in this column differ from, and are not a substitute for, the amounts reported in the Total Compensation column.

 

 2022 PROXY STATEMENT    43


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2021 ALL OTHER COMPENSATION TABLE

Name

 

Company

Contributions

401(k)

 

Company

Contributions

SDCP

 

Corporate

Aircraft/

Transportation(1)

 

Personal

Security(2)

 

Other(3)

 

Total All

Other

Compensation

D. James Umpleby III

$

31,350

$

263,400

$

49,170

$

5,845

$

17,795

$

367,560

Andrew R. J. Bonfield

$

28,500

$

84,860

$

-

$

407

$

4,295

$

118,062

Denise C. Johnson

$

28,673

$

88,403

$

1,242

$

2,686

$

17,795

$

138,799

Bob De Lange

$

31,258

$

95,006

$

69

$

2,374

$

17,913

$

146,620

Joseph E. Creed

$

31,058

$

48,973

$

1,763

$

11,458

$

196,739

$

289,991

                         
(1)

Values in this column, except as below, include the value of personal aircraft usage based on Caterpillar’s incremental cost per flight hour, including the weighted average variable operating cost of fuel, oil, aircraft maintenance, landing and parking fees, related ground transportation, catering and other smaller variable costs. Mr. Umpleby and the Company have a time-sharing lease agreement, pursuant to which certain costs associated with personal flights are reimbursed by Mr. Umpleby to the Company in accordance with the agreement. The 2021 amount listed includes personal use of corporate aircraft as follows: Mr. Umpleby $48,750, Mr. De Lange $69 and Mr. Creed $213. Values in this column also include the value of personal use of executive ground transportation service based on Caterpillar’s incremental cost per mile and trip hour, or as invoiced by a third party service provider. The 2021 amount listed includes personal ground transportation usage as follows: Mr. Umpleby $420, Ms. Johnson $1,242 and Mr. Creed $1,550.

(2)

Amounts reported for personal security represent the cost provided by outside security providers for installation, monitoring and maintenance of home security and smart home services and for reputation and identity theft protection. The incremental cost associated with the security services is determined based upon the amounts paid to these outside service providers.

(3) 

Values in this column include the cost for executive physicals and financial planning services. The incremental cost associated with these services is determined based upon the amounts paid to the approved service providers. Mr. De Lange was previously an International Service Employee (ISE), and the amount reported also includes tax preparation fees of $1,618 (including a tax gross-up of $118) incurred in 2021 related to his ISE service in accordance with the Company's tax equalization policy for ISEs. The amount reported for Mr. Creed also includes allowances and reimbursements related to relocation expenses of $183,239 (including a tax gross-up of $37,500). Mr. Creed received the same benefits and was subject to the same relocation policy as other U.S.-based management employees.

 

 2022 PROXY STATEMENT    44


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GRANTS OF PLAN-BASED AWARDS IN 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name

Grant Date

Estimated Future Payouts Under

Non-Equity Incentive Plan Awards (1)

 

Estimated

Future

Payouts

Under Equity

Incentive Plan

Awards(2)

All Other

Stock

Awards:

Number of

Shares of

Stock or

Units

All Other

Option

Awards:

Number of

Securities

Underlying

Options(3)

 

Exercise

or Base

Price of

Option

Awards

($/Share)

 

Grant Date

Fair Value of

Stock and

Option

Awards ($)(4)

Threshold ($)

 

Target ($)

 

Maximum
($)

Target (#)

 

D. James Umpleby III

3/1/2021

 

 

 

 

39,816

$

$

8,749,964

3/1/2021

 

 

 

 

155,411

$

219.76

$

8,750,028

AIP(5)

1,432,962

2,865,925

5,731,849

 

 

 

 

 

 

 

 

Andrew R. J. Bonfield

3/1/2021

 

 

 

 

11,831

$

$

2,599,981

3/1/2021

 

 

 

 

46,179

$

219.76

$

2,599,993

AIP(5)

490,530

981,060

1,962,121

 

 

 

 

 

 

 

 

Denise C. Johnson

3/1/2021

 

 

 

 

11,604

$

$

2,550,095

3/1/2021

 

 

 

 

45,291

$

219.76

$

2,549,997

AIP(5)

486,734

973,467

1,946,934

 

 

 

 

 

 

 

 

Bob De Lange

3/1/2021

 

 

 

 

11,376

$

$

2,499,990

3/1/2021

 

 

 

 

44,403

$

219.76

$

2,500,000

AIP(5)

453,212

      906,424

1,812,847

 

 

 

 

 

 

 

 

Joseph E. Creed

3/1/2021

 

 

 

 

11,376

$

$

2,499,990

3/1/2021

 

 

 

 

44,403

$

219.76

$

2,500,000

AIP(5)

382,375

764,750

1,529,500

 

 

 

 

 

 

 

 

                       
(1)

The amounts reported represent estimated potential awards under the 2021 AIP.

(2)

The amounts reported in this column represent estimated potential awards under the LTIP. PRSUs were granted on March 1, 2021, under the LTIP for the 2021-2023 performance period. PRSUs vest at the end of the three-year performance period subject to the Company’s achievement of an average ROE performance hurdle during that period. There is no threshold or maximum payout opportunity with respect to these PRSUs.

(3)

Amounts reported represent stock options granted under the LTIP. The exercise price for all stock options granted to the NEOs is the closing price of Caterpillar stock on the grant date, March 1, 2021. All stock options granted to the NEOs will vest in one-third increments on March 1, 2022, March 1, 2023, and March 1, 2024.

(4)

The amounts shown do not reflect realized compensation by the NEO. As reported in this column, the value of PRSUs granted in 2021 under the LTIP are based on the aggregate grant date fair value computed in accordance with FASB ASC Topic 718, assuming the highest level of performance is achieved for the PRSUs, which at the time of the grant reflected the probable level of achievement.

(5)

The 2021 AIP estimates shown are based upon each executive’s base salary for 2021. The actual payout was based on the achievement of corporate and business unit performance metrics and the Strategic Objective Modifier. Please refer to page 37 of the CD&A for a detailed explanation of the various performance metrics. Payments under AIP are limited by a plan cap set at $15 million. The cash payouts for the 2021 plan year are included in the column “Non-Equity Incentive Plan Compensation” of the “2021 Summary Compensation Table.”

 

 2022 PROXY STATEMENT    45


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OUTSTANDING EQUITY AWARDS AT 2021 FISCAL YEAR END

 

Option Awards

 

Stock Awards

 

Number of Securities Underlying

Unexercised SARs/Options

SAR / Option

Exercise Price

SAR / Option

Expiration

Date(1)

Number of

Shares or

Units of

Stock that

have not

Vested

Market Value

of Shares or

Units of Stock

that have not

Vested

Equity Incentive Plan Awards

 

Grant Date

Exercisable

Unexercisable

Number of Unearned

Shares, Units or

other Rights that

have not Vested(2)

Market or Payout Value

of Unearned Share,

Units or other Rights

that have not Vested(3)

D. James Umpleby III

3/5/2018

182,944

$

151.12

3/5/2028

 

$

 

$

3/4/2019

$

 

 

$

42,281

(4)

$

8,741,174

3/4/2019

109,077

54,538

$

138.35

3/4/2029

 

$

 

$

3/2/2020

$

 

 

$

48,213

(5)

$

9,967,556

3/2/2020

75,701

151,402

$

127.60

3/2/2030

 

$

 

$

3/1/2021

$

 

 

$

40,425

(5)

$

8,357,465

3/1/2021

155,411

$

219.76

3/1/2031

 

$

 

$

Andrew R. J. Bonfield

3/4/2019

$

 

 

$

13,964

(4)

$

2,886,917

3/4/2019

18,012

$

138.35

3/4/2029

 

$

 

$

3/2/2020

$

 

 

$

14,710

(5)

$

3,041,145

3/2/2020

46,190

$

127.60

3/2/2030

 

$

 

$

3/1/2021

$

 

 

$

12,012

(5)

$

2,483,361

3/1/2021

46,179

$

219.76

3/1/2031

 

$

 

$

Denise C. Johnson

3/4/2019

$

 

 

$

13,964

(4)

$

2,886,917

3/4/2019

18,012

$

138.35

3/4/2029

 

$

 

$

3/2/2020

$

 

 

$

15,117

(5)

$

3,125,289

3/2/2020

47,473

$

127.60

3/2/2030

 

$

 

$

3/1/2021

$

 

 

$