Bed, Bath and Beyond 2010 Annual Report Download - page 60

BED BATH & BEYOND PROXY STATEMENT
58
(1) During fiscal 2006, an independent committee of the Company’s Board of Directors identified various deficiencies in the process of
granting and documenting stock options and restricted shares, with the result, among other things, that for purposes of Section 409A
of the Code, certain stock options were deemed to have been granted with an exercise price less than the value of underlying com-
mon stock on the date of grant. Under Section 409A, this would have subjected certain stock options held by a significant number of
the Company’s associates (including Messrs. Eisenberg, Feinstein, Temares, Stark and Castagna) to adverse tax consequences unless
brought into compliance with Section 409A. In order to effect such compliance, the exercise price of certain options held by Messrs.
Eisenberg, Feinstein and Temares was increased without any payment or other consideration to the affected executive. As a conse-
quence, individual option grants to Messrs. Eisenberg, Feinstein and Temares may appear in this table as multiple entries where the
exercise price was increased for only a portion of such grant.
(2) Market value is based on the closing price of the Company’s common stock of $47.85 per share on February 25, 2011, the
last trading day in fiscal 2010.
OPTION EXERCISES AND STOCK VESTED
Option Exercises and Restricted Stock Vested for Fiscal 2010
The following table includes certain information with respect to the exercise of options and vesting of restricted stock by named
executive officers during fiscal 2010.
Option Awards Stock Awards
Number of Shares Number of
Acquired on Value Realized on Shares Acquired Value Realized
Exercise Exercise on Vesting on Vesting
Name (#) ($) (#) ($)
Warren Eisenberg(1)(4) 100,000 2,175,850 63,222 2,901,547
Leonard Feinstein(1)(4) 100,000 2,175,850 63,222 2,901,547
Steven H. Temares(1)(5) 300,000 7,498,050 76,245 3,503,213
Arthur Stark(2)(6) 15,000 366,128 11,958 544,069
Eugene A. Castagna(3)(7) 30,000 446,550 9,963 453,662
(1) Messrs. Eisenberg, Feinstein and Temares each acquired 12,463 shares with a market price of $45.50 on April 17, 2010, 12,797 shares
with a market price of $45.95 on April 20, 2010 and 11,674 shares with a market price of $45.20 on May 10, 2010, upon the lapse of
restrictions on previously granted shares of restricted stock. Messrs. Eisenberg, Feinstein and Temares also acquired 14,119, 14,119 and
24,708 shares, respectively, with a market price of $46.09 on May 11, 2010, and 12,169, 12,169, and 14,603 shares, respectively, with a
market price of $46.68, on May 12, 2010, upon the lapse of restrictions on previously granted shares of restricted stock.
(2) Mr. Stark acquired 3,895 shares with a market price of $45.50 on April 17, 2010, 3,199 shares with a market price of $45.95 on April
20, 2010, and 4,864 shares with a market price of $45.20 on May 10, 2010, upon the lapse of restrictions on previously granted shares
of restricted stock.
(3) Mr. Castagna acquired 3,116 shares with a market price of $45.50 on April 17, 2010, 3,199 shares with a market price of $45.95 on
April 20, 2010, and 3,648 shares with a market price of $45.20 on May 10, 2010, upon the lapse of restrictions on previously granted
shares of restricted stock.
(4) Messrs. Eisenberg and Feinstein each exercised 100,000 stock options on April 9, 2010, with an exercise price of $23.7815 and a mar-
ket price of $45.54.
(5) Mr. Temares exercised 180,000 stock options on January 25, 2011, with an exercise price of $23.7815 and a market price of $49.10 and
120,000 stock options with an exercise price of $24.5940 and a market price of $49.10.
(6) Mr. Stark exercised 15,000 stock options on April 26, 2010, with an exercise price of $23.7815 and a market price of $48.19.
(7) Mr. Castagna exercised 30,000 stock options on April 20, 2010, with an exercise price of $31.6150 and a market price of $46.50.