Summary by Moomoo AI
On January 24, 2024, Adobe Inc. announced the approval of the 2024 Performance Share Program by its Executive Compensation Committee. The program, part of the 2019 Equity Incentive Plan, aims to incentivize executive management through performance shares tied to company performance goals. The program sets forth two main goals: an objective relative total stockholder return (rTSR) and a Net New Sales goal, each accounting for 50% of the performance evaluation. Executives can earn up to 200% of their target shares based on these metrics, with the rTSR being compared to NASDAQ-100 Index companies. Additionally, Adobe's Executive Compensation Committee approved the 2024 Executive Annual Incentive Plan, designed to motivate officers to meet specific revenue and profitability targets. Participants can earn cash bonuses up to 200% of their target award, contingent on meeting at least 90% of the GAAP revenue and non-GAAP earnings per share targets for fiscal year 2024. The incentive plan also includes individual performance assessments. Both plans are subject to the company's clawback policies and require continued service through the vesting date.