2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 414 EXXON MOBIL CORPORATION GENERAL MOTORS J. C. PENNEY COMPANY, INC. KEYCORP Compensation for CEO Position 1 ReportedPay Paygranted toCEOposition in2017 is lower than2016, reflective ofnew incumbentanddecrease in thenumberofperformance sharesgranted (dollars inmillions, rounded) TotalReportedPay: AllOther Compensation Salary Bonus Performance ShareAward Change in PensionValue $17.5 2017 $1.8 $10.8 $0.3 $3.3 $27.4 2016 $3.2 $1.7 $19.7 $0.6 $2.2 $27.3 2015 $3.0 $2.4 $18.3 $0.5 $3.0 $1.2 3 RealizedPay vs.BenchmarkCompanies (7) Realizedpay isbelow themedianof compensationbenchmark companies formostof theperiodbetween2007 to2016 ExxonMobil CompensationBenchmarkCompany: Highest Median (dollars inmillions) 80 70 60 50 40 30 20 10 0 2007 08 09 10 11 (6) 12 13 15 2016 14 2 ReportedPay vs.RealizedPayOver10-YearPeriod CEO’s realizedpay represents,onaverage,47percentof total reportedpay from2008 to2017 (dollars inmillions) 40 35 30 25 20 15 10 5 0 32% 31% 49% 71% 39% 56% 55% 53% 29% 57% RealizedPayasaPercentageofReportedPay: 2008 09 10 11 (6) 12 13 14 15 16 2017 RealizedPay ReportedPay 4 Realized andUnrealizedPay (7) Combined realizedandunrealizedpay forCEOposition from 2007 to2016 isat the42ndpercentileofcompensation benchmarkcompanies RealizedPay: 37 th PERCENTILE POSITION 8 13 of PERCENTILE POSITION CombinedRealizedandUnrealizedPay: 42 nd PERCENTILE POSITION 8 13 of 1ReportedPayPaygrantedtoCEOpositionin2017islowerthan2016,reflectiveofnewincumbentanddecreaseinthenumberofperformancesharesgranted2ReportedPayvs.RealizedPayOver10-YearPeriodCEO’srealizedpayrepresents,onaverage,47percentoftotalreportedpayfrom2008to20173RealizedPayvs.BenchmarkCompanies(7)Realizedpayisbelowthemedianofcompensationbenchmarkcompaniesformostoftheperiodbetween2007to20164RealizedandUnrealizedPay(7)CombinedrealizedandunrealizedpayforCEOpositionfrom2007to2016isatthe42ndpercentileofcompensationbenchmarkcompaniesRealizedPay:CombinedRealizedandUnrealizedPay: 2018ProxyStatement 33 EXECUTIVECOMPENSATION Compensation Decisions for Mary T. Barra MaryT.Barra, ChairmanandChiefExecutiveOfficer Ms. Barra’s performance for 2017 was directly aligned with the Company’s 2017 strategicobjectives: Core Continued to drive improvement in EBIT-adjusted margins and delivered record EBIT-adjustedmargins,includingthethirdstraightyearof10%orhighermargins inNorthAmerica IncreasedEPS-diluted-adjustedtorecord$6.62 Achieved13top3modelsintheJ.D.PowerAPEALsurveymeasuringperformance, execution,andlayout ReceivedtheIHSAutomotiveLoyaltyAwardforthethirdstraightyear Chevrolet sold a record number of electric vehicles, including more than 43,600 BoltEVsandVolts CompletedthesalesofOpel/VauxhallandGMFinancialEuropeanbusinessesto PSA Morethan150facilitiesareoperatinglandfillfree Global Cadillac experienced record sales in 2017 with significant increases from GMChina Transformation Introducedthevisionofzerocrashes,zeroemissions,andzerocongestionforthe futureofGM ExpandedbothMavenandBookbyCadillactoincreasecarsharingcapabilities Announcedplanstodeployself-drivingvehiclesinadenseurbanenvironmentin 2019 LaunchedSuperCruise,theworld’sfirsthands-freehighwaydrivingtechnology, ontheCadillacCT6 180Cruiseautonomousvehiclesbuiltwithapproximately100testinginArizona, California,andMichigan Acquired Strobe, Inc. to help develop next-generation LiDAR solutions for self- drivingvehiclesandreduceLiDARcostsby99%overtime Announcedplansforatleast20newelectricvehiclesby2023 Becamethefirstcompanytousemass-productionmethodstobuildautonomous electrictestvehicles Effective January 1, 2017, the Compensation Committee increased Ms. Barra’s base salaryfrom$2,000,000to$2,100,000basedonherperformance,leadership,andthe competitivemarketanalysisprovidedbytheCompensationCommittee’sindependent compensationconsultant.For2017,theCompensationCommitteeawardedMs.Barra an annual equity grant of$13million consisting of75%PSUs and 25%StockOptions. These changes placed Ms. Barra in line with the compensation peer group, as her targetedtotaldirectcompensationremainedcompetitiveatthemarketmedian. The Compensation Committee awarded Ms. Barra 40 points based on her results, highlightedabove,forthe2017performanceyear.ThetotalcompensationforMs.Barra in2017,includingsalary,STIPandLTIPawards,isdisplayedbelow. PayElement MajorityofPayIsAt-Risk AwardedValue BaseSalary OnlyFixedPayElement $ 2,100,000 STIP PerformancetoMetrics $ 4,956,000 PSUs (1) PerformancetoMetricsandStockPrice $10,737,570 StockOptions (2) PerformancetoStockPrice $ 3,250,003 TOTAL $21,043,573 (1) PSUs are subject to performance vesting; value reflects grant date fair value at target performance for Relative ROIC-adjusted awards and probable performance results from the MonteCarloanalysistovalueRelativeTSRawards. (2) StockOptionsaresubjecttotime-basedvesting. Base Salary $2.10 STIP $4.20 PSUs $9.75 Stock Options $3.25 33% Short-Term Cash 67% Long-Term Equity 2017COMPENSATION STRUCTURE (inmillions) 89%ofPay isAt-Risk AWARDEDVALUE vs. REALIZEDCOMPENSATION (inmillions) 2015 2016 2017 AwardedValue RealizedCompensation $28.0 $7.3 $21.8 $11.2 $21.0 $25.0 Awardedvaluereflectstheamountincludedin the Summary Compensation Table, excluding change in pension value and all other compensation.Realizedcompensationincludes base salary, earned STIP, and all options exercisedandstockvestedduringtheyear.2017 realizedcompensationincreasedrelativetothe prior year reflecting 1) the vesting of the PSU award granted to Ms. Barra in 2014, the year shewaspromotedtohercurrentrole;and2)an increase in stock price at the time of vesting versustheprioryear. 48 G E N E R A L M O T O R S 2018 PROXYSTATEMENT Total of 06 pages in section CompensationDiscussionandAnalysis Ms.Mooney’spay,asreportedintheSummaryCompensationTable(“SCT”),reflectstheaccountingvalueoflong-term incentivesatthetimeofgrantandnotthevalueactuallyreceivedfromthesegrantsortheirpotentialfuturevalue.Asaresult, webelievethatitisusefultocompareMs.Mooney’sAdjustedSCTPay,RealizedPay,andRealizablePay,ineachcase between2015and2017,withourtotalshareholderreturnforthesameperiod.Thiscomparisonshowsthealignmentof Ms.Mooney’spayandchangesinourshareprice,asillustratedbelow: CEOPayvs.Performance— AdjustedSCT,RealizableandRealizedCompensation $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $18.0 Compensation inMillions $6.9 $8.6 $8.0 $8.1 $13.3 $8.0 $8.1 $8.0 $0 $100 $50 $150 $200 TotalShareholderReturn Valueof$100 Investedon 12/31/14 AdjustedSCTCompensation RealizablePay RealizedPay TotalShareholderReturn 2015 2016 2017 $14.0 $16.0 $15.4 $5.9M Realized Upon Exercise ofStock Options Ms.Mooney’sRealizablePayandRealizedPaychangedbetween2016and2017.Ms.Mooney’sRealizedPayincreased from2016to2017assheexercisedpreviouslygrantedstockoptions,asnotedinthechartabove.Ms.Mooney’sRealizable Paydecreasedin2017asthegrowthinoursharepricefrom2016to2017waslessthanthegrowthinoursharepricefrom 2015to2016. Ms.Mooney’sRealizedPaybetween2015and2017consistedof: 2015 ($) 2016 ($) 2017 ($) Basesalaryreceived 1,038,462* 1,000,000 1,000,000 Annualincentivepayments 1,900,000 2,700,000 2,675,000 Restrictedstock/unitsvesting 1,190,664 1,267,879 2,915,265 Performancesharevesting 3,906,520 3,075,096 2,860,002 Stockoptionexercise** — — 5,946,119 Total** 8,035,646 8,042,975 15,396,386 * Ms.Mooney’s2015basesalaryincludesanadditionalpayperiodinDecember2015. ** Ms.Mooneydidnotexerciseanystockoptionsin2015or2016. TheprecedingchartandtablearenotsubstitutesfortheinformationrequiredtobecontainedintheSummaryCompensation Table,butprovideadditionalinformationwithregardtoourChairmanandChiefExecutiveOfficer’spay. 34 CompensationDiscussionandAnalysis $12,000 $10,988 $7,659 $10,988 $3,375 $1,687 $1,687 $578 $2,311 $1,350 $1,350 $2,995 $578 $769 $1,967 $3,500 $1,750 $1,750 $2,538 $1,450 $10,000 $8,000 $6,000 $4,000 $ (Thousands) $2,000 $0 2015 Target 2015 “Realizable” 2016 “Realizable” 2017 “Realizable” 2016 Target 2017 Target CEO Target vs. “Realizable” Compensation Salary AnnualBonus One-timeSG&A Bonus TBRSUs StockOptions PBRSUs - Target/Earned PBRSUs - Unearned $3,778 $1,143 $1,450 $571 $614 $6,679 $2,079 $1,450 $1,039 $2,111 $10,988 $3,500 $1,750 $1,750 $2,538 $1,450 (1) Target compensationincludesbasesalary, the target annualcash bonusawardvalue(includinga supplementalone-time awardin2015) andthe grant date valueof long-term incentiveawards. (2) “Realizable”compensationincludesbasesalary, the annualcash bonusamount earnedandthe fiscal2017year-end valueof long-term incentiveawardsas follows:(a) the intrinsicvalueof stock options, (b) TBRSUsvaluedat year-end stock price and(c) PBRSUsvaluedat year-end stock price as follows:2015awardvaluedat the earnedamount, and2016and2017awardsvaluedat target as performance results cannot yet be determined. 2018 Proxy Statement 27