大公司減少爲CEO提供期權獎勵

When it came time to reward top executives last year, more leading companies handed out performance-based awards instead of time-vesting stock options, according to a new study from human resources consulting firm Mercer.

據人力資源諮詢公司美世（Mercer）的最新調查顯示，去年有更多行業領先公司在獎勵高管時，發放了績效獎勵，而非需要股票期權。

The study, released Monday, shows performance shares were used as CEO rewards by 51% of companies surveyed last year, up from 47% the previous year and 41% in 2011. Meanwhile, the number of companies surveyed by Mercer who rewarded their CEOs with time-vesting restricted stock fell to 22% last year from 23% in 2012.

本週一發佈的這項調查結果顯示，51%的受調查公司使用業績股票作爲給CEO的獎賞，高於前一年的47%和2011年的41%。與此同時，在美世調查的公司中，22%的公司去年向CEO獎勵了日後行權的限制性股票，低於2012年的23%。

Overall, the use of option grants fell last year to just 25% from 28% the previous year and 35% in 2011. Those numbers reflect the activities of more than 240 companies from the S&P 500.

整體而言，使用期權作爲獎勵的公司比例降至25%，低於之前一年的28%和2011年的35%。這些數字反映了標普500指數成份股中超過240家公司的做法。

Performance shares are company stock given to managers only if they meet certain company-wide performance targets. Ted Jarvis, Mercer’s global director of data, research and publications, sees the move toward these stock awards is due to a perception that full-value shares are tied more closely to a company’s immediate results.

業績股票是隻有在高管達到某些公司級的業績目標時纔會獲贈的公司股票。美世數據、研究和出版全球總監泰德o賈瓦斯認爲，傾向使用業績股票獎勵是由於全值股票與公司的即時業績關聯更爲緊密。

“In practice, performance awards are more closely aligned to explicit financial or operational outcomes than stock options,” Jarvis said in a statement. “However, the performance measures and associated goals must reflect the company’s strategic objectives for performance shares to be meaningful incentives.”

“事實上相比股票期權，業績獎勵與財務或運營業績的聯繫更密切。”賈瓦斯在一份聲明中表示，“但是，CEO的業績指標和相關目標必須反映公司的戰略目標，這樣業績股票才能具有深遠的激勵意義。”

Mercer found that the average total compensation for CEOs, which includes short-term and long-term payouts as well as base salary, increased 6.5% last year, to $9.66 million. Last year’s median compensation is up 8.5% from the $8.86 million posted in 2011, Mercer said. Mercer also found median compensation to be pretty top-heavy, with CEOs at companies in the top 100 of the S&P 500 raking in an average of $14.4 million last year, 68.5% higher than the $8.55 median compensation for CEOs in the rest of the S&P 500.

美世發現，CEO的平均總薪酬去年增長了6.5%，達到966萬美元，包括短期和長期收入以及基本工資在內。美世稱，去年的薪酬中值較2011年的886萬美元增長了8.5%。調查還發現，薪酬中值有些“頭重腳輕”，標普500指數前100強公司去年的CEO平均薪酬爲1,440萬美元，比標普500指數其餘公司的CEO薪酬中值855萬美元高68.5%。

However, median compensation for CEOs at smaller companies did increase 6.7% last year, while pay for CEOs at the top 100 companies was down slightly, which Mercer says could reflect efforts by the smaller companies to offer compensation packages that are competitive with those offered by their larger peers.

雖然如此，去年較小規模公司的CEO薪酬中值增長了6.7%，而前100強公司的CEO薪酬略微下滑，美世認爲這反映出小公司正在努力提供與大公司相比有競爭力的薪酬。

Jarvis says that practice, fueled by smaller companies handing out greater annual bonuses and long-term incentives, could have negative results.

賈瓦斯說，在小公司向CEO發放更多年終獎和長期激勵的推動下，這種做法最終可能帶來負面影響。

“If this trend continues, we may witness pay compression as the smaller companies catch up with the big ones,” he said.

“如果這一趨勢延續，當小公司趕上大公司的水平時，CEO整體薪酬可能會被壓縮。”