2018 Guide to Effective Proxies

2.11 Board committee grids | 183 6 TH EDITION | GUIDE TO EFFECTIVE PROXIES TD AMERITRADE TEGNA, INC. TTM TECHNOLOGIES, INC. VALERO ENERGY CORPORATION Proposal No. 1 – Election of Directors Recommended by the Board of Directors Board Meetings and Committees Theboardofdirectorsconductsitsbusinessthroughmeetingsoftheboard,actionstakenbywrittenconsentinlieuofmeetingsandbythe actionsofitscommittees.Thenon-employeemembersandtheindependentmembersofourboardofdirectorsregularlymeetinexecutive sessionwithoutmanagementpresent.Thesedirectorsselectapresidingdirectoratthesemeetingsonanad-hocbasis.Theboardof directorshasapolicyrequiringtheseparationoftherolesofCEOandchairmanoftheboardbecausetheboardofdirectorsbelievesit improvestheabilityoftheboardtoexerciseitsoversightrole.Mr.HockeyservesastheCEOandMr.Mogliaservesaschairmanofthe board.Thechairmanisresponsibleformanagingtheaffairsoftheboard,withtheobjectivethatitisproperlyorganized,functionseffectively andfulfillsitsresponsibilities.ThechairmanalsoworkswiththeCEOandthecorporatesecretarytoestablishtheagendaforeachboard meetingandreceivesinputfromotherdirectorsasnecessaryordesiredforthecoordinationofboardactivities.Theseparationoftheroles ofCEOandchairmanoftheboarddoesnotaffectriskoversight,whichistheresponsibilityoftheboardofdirectors,primarilyoverseenby theRiskCommittee.Ourmanagementteamisresponsibleformanagingrisk,usingriskmanagementprocesses,policiesandproceduresto identify,measureandmanagerisks. DuringthefiscalyearendedSeptember30,2017,theboardofdirectorsheldsevenmeetings.Duringfiscalyear2017,eachincumbent directorattendedatleast75%oftheaggregatenumberofmeetingsoftheboardofdirectorsandmeetingsofthecommitteesoftheboard ofdirectorsonwhichheorsheservedduringtheperiodinwhichheorsheserved,ifany.AlthoughtheCompanydoesnothaveaformal policyregardingdirectorattendanceatourannualmeetingofstockholders,directorsareencouragedtoattend.AlldirectorsoftheCompany atthetimeofthe2017annualmeetingofstockholdersattendedthe2017annualmeetingofstockholders. Theboardofdirectorshasestablishedsixstandingcommittees:Audit,H.R.andCompensation,CorporateGovernance,Outside IndependentDirectors,Non-TDDirectorsandRisk.Thecommitteemembersareidentifiedinthefollowingtable: Director Audit H.R.and Compensation Corporate Governance Outside Independent Directors Non-TD Directors Risk LorenzoA.Bettino Chair V.AnnHailey TimHockey BrianM.Levitt KarenE.Maidment Chair BharatB.Masrani IreneR.Miller MarkL.Mitchell Chair JosephH.Moglia WilburJ.Prezzano Chair ToddM.Ricketts AllanR.Tessler Chair TDAmeritrade 2018ProxyStatement 11 PROPOSAL1—ELECTIONOFDIRECTORS CommitteesoftheBoardofDirectors COMMITTEES OF THE BOARD OF DIRECTORS TheBoardofDirectorsconductsitsbusinessthroughmeetingsoftheBoardanditsfourcommittees:theAuditCommittee,Executive Committee,ExecutiveCompensationCommitteeandNominatingandPublicResponsibilityCommittee.Thefollowingchartshowsthe currentmembershipandchairpersonofeachofourBoardcommitteesandthenumberofcommitteemeetingsheldduring2017. #ofMeetings Held Bianchini (1) Elias Epstein (1) Fonseca Lougee Magner McCune McGee Ness Nolop Shapiro Witmer Audit 7 ‹ ‹ C Executive 0 ‹ ‹ C ‹ Executive Compensation 6 C ‹ ‹ ‹ GovernmentPolicy andRegulation(2) 0 ‹ C ‹ NominatingandPublic Responsibility 5 ‹ ‹ C C–Chairperson (1) Ms.BianchiniandMr.EpsteinhaverecentlybeenelectedtotheBoardandarenotyetmembersofacommittee. (2) TheGovernmentPolicyandRegulationCommitteewasestablishedonFebruary22,2018. Audit Committee TheAuditCommitteeassiststheBoardofDirectorsinitsoversightoffinancialreportingpracticesandthequalityandintegrityofthe financialreportsoftheCompany.EachmemberoftheAuditCommitteemeetstheindependencerequirementsoftheSECaswellas thoseoftheNYSE.Inaddition,theBoardhasdeterminedthatBruceP.Nolopisanauditcommitteefinancialexpert,asthattermis definedundertheSECrules.ThisCommitteemetseventimesin2017. Executive Committee TheExecutiveCommitteemayexercisetheauthorityoftheBoardbetweenBoardmeetings,exceptaslimitedbyDelawarelaw.The ExecutiveCommitteedidnotmeetin2017. Executive Compensation Committee TheExecutiveCompensationCommitteedischargestheBoard’sresponsibilitiesrelatingtothecompensationoftheCompany’s directorsandexecutivesandhasoverallresponsibilityfortheCompany’scompensationplans,principlesandprograms.The Committee’sdutiesandresponsibilitiesincludereviewingandapprovingonanannualbasiscorporategoalsandobjectivesrelevantto thecompensationoftheCompany’sCEOandotherseniorexecutives,includingmembersoftheTEGNALeadershipTeamandcertain otherCompanyofficers.TheCommitteealsoisresponsibleforreviewinganddiscussingwithmanagementtheCompensation DiscussionandAnalysis(CD&A)disclosurescontainedintheCompany’sProxyStatement,andformakingarecommendationasto whethertheCD&AdisclosuresshouldbesoincludedandincorporatedbyreferenceintotheCompany’sAnnualReportonForm10-K. TheBoardofDirectorshasdeterminedthateachmemberoftheCommitteemeetstheindependencerequirementsoftheSECaswell asthoseoftheNYSE.ThisCommitteemetsixtimesin2017. TheCommitteehasprimaryresponsibilityforadministeringtheCompany’sequityincentiveplansandinthatroleisresponsiblefor approvingequitygrantstoourseniorexecutives.TheCommitteehistoricallyhasdelegatedtotheCEOtheauthorityforapproving equitygrantstoemployeesotherthanourseniorexecutivesmentionedabovewithintheparametersofapoolofsharesapprovedby theCommittee.Thisprovidesflexibilityforequitygrantstobemadetoemployeesbelowtheseniorleadershiplevelwhoareless familiartotheCommittee. Underitscharter,theCommitteemay,initssolediscretion,retainorobtaintheadviceofacompensationconsultant,independentlegal counselorotheradviser.TheCommitteeisdirectlyresponsiblefortheappointment,compensationandoversightofanysuch consultant,counseloradviser,andtheCompanyshallprovideappropriatefundingforpaymentofreasonablecompensationtoany suchconsultant,counseloradviser,asdeterminedbytheCommittee.Inselectingaconsultant,counseloradviser,theCommittee 10 2018PROXYSTATEMENT INFORMATION REGARDING THE BOARD OF DIRECTORS Committees of the Board OurBoardhasthreestandingcommittees: Thecommittees’chartersare availableonourwebsiteat: www.valero.com Investors CorporateGovernance GovernanceDocuments Charters. 1 AuditCommittee, 2 CompensationCommittee,and 3 Nominating/GovernanceandPublicPolicyCommittee. AUDIT COMMITTEE TheAuditCommitteeassiststheBoardinoversightoftheintegrityofValero’sfinancialstatementsandpublicfinancialinformation, Valero’scompliancewithlegalandregulatoryrequirements,thequalificationsandindependenceofValero’sindependentauditor,and theperformanceofValero’sinternalauditfunctionandindependentauditors.TheAuditCommitteemetfivetimesin2017.Wemake additionaldisclosuresabouttheAuditCommitteeinthisproxystatementunderthecaption“RiskOversight”andinconnectionwith “ProposalNo.2—RatifyAppointmentofKPMGLLPasIndependentAuditors”below. MembersoftheAuditCommitteeare: • RandallJ.Weisenburger(Chair), • H.PaulettEberhart, • SusanKaufmanPurcell,and • StephenM.Waters. Notes: AuditCommitteeFinancialExperts .TheBoardhas determinedthateachofthefollowingdirectorsisan“audit committeefinancialexpert”(asdefinedbytheSEC)andthat eachis“independent”underapplicableregulations/standards: (1)Mr.Weisenburger,(2)MsEberhart,and(3)Mr.Waters.For moreinformationregardingtheirexperience,see “ Proposal No.1—ElectionofDirectors—InformationConcerningNominees andDirectors.” COMPENSATION COMMITTEE TheCompensationCommitteereviewsandreportstotheBoardonmattersrelatedtocompensationprograms,policies,and strategies.TheCompensationCommittee’sdutiesarefurtherdescribedin“CompensationDiscussionandAnalysis”belowandinthe committee’scharter.TheCompensationCommitteemetfivetimesin2017.TheCompensationCommitteehas,foradministrative convenience,delegatedauthoritytoourChiefExecutiveOfficertomakenon-materialamendmentstoValero’sbenefitplansandto makelimitedgrantsofstockoptionsandrestrictedstocktonewhireswhoarenotexecutiveofficers. MembersoftheCompensationCommitteeare: • RayfordWilkins,Jr.(Chair), • PhilipJ.Pfeiffer,and • RobertA.Profusek. Notes: The CompensationCommitteeReport forfiscalyear2017 appearsinthisproxystatementimmediatelypreceding “CompensationDiscussionandAnalysis.” Compensation Committee Interlocks and Insider Participation: There are nocompensation committee interlocks. None of the members of the Compensation Committee has served as an officer or employee of Valero or had any relationshiprequiringdisclosure by Valero under Item 404of the SEC’s RegulationS-K, whichaddresses related-person transactions. 4 Total of 02 pages in section Our board of directors has adopted charters for the audit, compensation, and nominating and corporate governance committees describing the authority and responsibilities delegated tothecommittee bytheboard ofdirectors.Ourboardofdirectorshasalsoadoptedcorporategovernanceguidelines,awhistleblowerpolicy, a code of business conduct for all employees and a supplemental code of ethics for our chief executive officer and senior financial officers. We post on our website, at www.ttm.com , the charters of our audit, compensation, and nominating and corporate governance committees; our corporate governance guidelines; ourwhistleblowerpolicy;ourcodeofethicsforourchiefexecutiveofficerandseniorfinancialofficers,andany amendments or waivers thereto. These documents are also available in print to any stockholder requesting a copyinwritingfromourcorporatesecretaryat1665ScenicAvenue,Suite250,CostaMesa,California92626. Interested parties may communicate with our board of directors or specific members of our board of directors, including the members of our various board committees, by submitting a letter addressed to the board of directors of TTM Technologies, Inc., c/o any specified individual director or directors, at 1665 Scenic Avenue,Suite250,CostaMesa,California92626.Wewillforwardanysuchletterstotheindicateddirectors. MeetingsoftheBoardofDirectors Our board of directors held seven meetings (regular and special) during 2017. All of our directors attended more than 75% of the aggregate of (i) the total number of meetings of the board of directors held during 2017, and (ii) the total number of meetings held by all committees of our board of directors on which such person served during 2017. We have adopted a policy encouraging each of our directors to attend each annual meeting of stockholders and, to the extent reasonably practicable, we regularly schedule a meeting of theboardofdirectorsonthesamedayastheannualmeetingofstockholders.Allofourdirectorsattendedthe 2017annualmeetingofstockholders. CommitteesoftheBoardofDirectors ThemembersandnomineesoftheBoardandthecommitteesoftheBoardonwhichtheyserveasofthedate ofthisProxyStatementareidentifiedbelow: Name Audit Committee Compensation Committee Government Security Committee Nominating andCorporate Governance Committee RobertE.Klatell Member Member Chairman KentonK.Alder Member JamesK.Bass Chairman Member ThomasT.Edman Member JulieS.England (1) Member Member PhilipG.Franklin Chairman Member RexD.Geveden (2) RonaldW.Iverson (3) Member Chairman JohnG.Mayer (4) Member Member TangChungYen,Tom DovS.Zakheim Member Member Member (1) BecameamemberoftheAuditCommitteeonMarch10,2017. (2) ItiscontemplatedbyourboardthatMr.GevedenwillbeappointedtotheGovernmentSecurityCommitteeifelectedtotheboard asofthedateofhiselection. (3) Mr.IversonwillretireonMay9,2018 (4) LefttheAuditCommitteeonMarch10,2017. AuditCommittee . Ourauditcommitteereviewsandmonitorsourcorporatefinancialreportingandour external audit, including, among other things, our internal audit and internal control functions, the results and TTMTECHNOLOGIES,INC. 10