Sabre Corporation · NASDAQ:SABR
Sabre — Shareholder Meeting (September 2020)
13 slides from Sabre's shareholder meeting presentation, Sep 24, 2020
Slide 1: 2020 Governance and Executive Compensation Overview
2020 Governance and Executive Compensation Overview Exhibit 99.1
Slide 2: Overview of Sabre's Governance Program
Independent Chairman of the Board: Karl Peterson Board and committee composition: All directors are independent, other than CEO Ongoing focus on Board refreshment, including through recent Board additions: 2020:Gail Mandel (former CEO of Wyndham Destination Network), Gregg Saretsky (former President
Slide 3: Board composition and director attributes
Governance and Nominating Committee considers on an ongoing basis the overall composition of Board and committees Consideration includes attributes of current directors Director Attributes Number of Directors
Slide 4: Governance structure
Governance structure: Majority voting standard for non-contested elections Board recommended adoption, and stockholders approved in May 2017 Declassified Board Board recommended adoption, and stockholders approved in May 2018 All directors to be annually elected by 2021 annual meeting Elimination of
Slide 5: Sabre's Executive Compensation Strategy
The Compensation Committee’s strategy for Sabre’s executive compensation program is designed to advance three principal objectives: Pay for performance Link a significant portion of the target total direct compensation opportunities of Sabre’s executive officers to its annual and long‑term strategy
Slide 6: Stockholder engagement feedback and PSU changes
Continued our ongoing, proactive stockholder engagement program in fall of 2019 Received feedback on performance-based restricted stock unit (PSU) awards, including on the use of similar metrics for annual incentive plan and for PSU awards, as well as on the use of one-year performance periods for P
Slide 7: Changes to 2020 Executive Compensation Program
Grant of long-term performance-based cash incentive awards Granted in March 2020 to certain executive officers, other than the CEO Designed to align performance with Sabre’s key strategic initiatives announced in February 2020 Strategic initiatives are intended to address expectations of how the ret
Slide 8: Challenges of COVID-19 Pandemic
COVID-19 pandemic resulted in a sudden and severe disruption in global travel and represents a massive challenge to the travel industry Sabre is a mission-critical technology solutions provider to the global travel industry Beginning in March 2020, Sabre experienced a rapid decline in airline and ho
Slide 9: Executive Compensation Actions in Response to COVID-19
Base salary Implemented base salary reductions of 25% for CEO and 20% for other executive officers from March 16 through July 6 Annual cash incentive plan Replaced previously approved metrics for 2020 (revenue and pre-tax/pre-annual incentive Adjusted EPS) with expense reduction metric Payments capp
Slide 10: Executive Compensation Actions in Response to COVID-19
Equity Awards Granted time-based restricted stock unit awards to executive officers in June 2020 Compensation Committee approved in recognition of the fact that, as a technology solutions provider, Sabre directly competes for executive and key employee talent within the technology industry, as well
Slide 11: Equity Awards (continued)
Equity Awards (continued) Updated metrics with respect to PRSUs with 2020 performance periods In light of the significant uncertainty related to the impact of COVID-19 on Sabre’s financial results, the Compensation Committee approved in July 2020 amending outstanding PRSUs with 2020 performance peri
Slide 12: Stockholder Engagement
Sabre is continuing its ongoing, proactive stockholder engagement program Will engage with stockholders regarding considerations resulting from the impact of the COVID-19 pandemic on its executive compensation program and actions taken in response to the pandemic Will seek input on other aspects of
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