For senior managers and founders:

If 10PMs are at Sr pm to Apm level, I give execution the highest importance. Was he/she able to get things done as desired by the quarterly planning? Second would be their ability to solve for other problems in the company that doesn't have any owners. These folks get extra from the pool. Not everyone volunteers to solve others problems. Only passionate folks do. So, my job becomes easier. Third, is their ability to upskill on their own and apply it to their job in the company. These folks get extra from the pool. For A-director and higher, biggest chunk is based on their ability to move metrics and needles, put off fires and make everyone under them March towards the company's goals. Some incentives for keeping folks motivated, avoiding churn. Some incentives for staying committed to the org, they will see this only after 3 years.

Very broad according to level, yoe, etc, but Few data points I consider - Product Sense Execution Diligence Contributions apart from assigned items Managing up / Stakeholder mgmt ( at higher levels) Stack rank with some score and distribute the allocated hike budget