Bed, Bath and Beyond 2011 Annual Report Download - page 60

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BED BATH & BEYOND PROXY STATEMENT
58
GRANTS OF PLAN BASED AWARDS
Grants of Stock Options and Restricted Stock Awards for Fiscal 2011
The following table sets forth information with respect to stock options granted and restricted stock awarded during fiscal 2011
to each of the named executive officers under the Company’s 2004 Incentive Compensation Plan (the “2004 Plan”). The Company
did not grant any non-equity incentive plan awards in fiscal 2011.
All Other
All Other Option Awards:
Stock Awards: Number of Exercise or Closing Grant Date
Number of Shares Securities Base Price Market Price Fair Value
of Stock Underlying of Option on Date of Stock and
or Units (1) Options (1) Awards (2) of Grant Option Awards (3)
Name Grant Date (#) (#) ($/Sh) ($/Sh) ($)
Warren Eisenberg 5/10/11 26,698 25,440 $ 56.185 $ 56.56 $ 2,000,027
Leonard Feinstein 5/10/11 26,698 25,440 $ 56.185 $ 56.56 $ 2,000,027
Steven H. Temares 5/10/11 92,997 254,400 $ 56.185 $ 56.56 $ 10,225,039
Arthur Stark 5/10/11 22,248 30,528 $ 56.185 $ 56.56 $ 1,850,004
Eugene A. Castagna 5/10/11 17,799 30,528 $ 56.185 $ 56.56 $ 1,600,037
(1) Number of shares when converted from dollars to shares, which number is rounded up to the nearest whole share.
(2) The exercise price of option awards is the average of the high and low trading prices of the Company’s common stock
on the date of grant.
(3)
Pursuant to the SEC rules, stock option awards are valued in accordance with ASC 718. See footnote 2 to the Summary
Compensation Table in this Proxy Statement.
Vesting of restricted stock awards depends on (i) the Company’s achievement of a performance-based test for the fiscal year
of the grant, and (ii) assuming the performance-based test is met, time vesting, subject in general to the executive remaining
in the Company’s employ on specific vesting dates. The performance-based test for fiscal 2011 was met. The performance test
is designed to meet the standard for performance-based compensation under the Code, so that restricted stock awards will be
deductible compensation for certain executives if their annual compensation exceeds $1,000,000. The stock awards granted in
fiscal 2011 to Messrs. Eisenberg, Feinstein and Temares time vest in five equal installments starting on the first anniversary of the
grant date. The stock awards granted in fiscal 2011 to Messrs. Stark and Castagna time vest in five equal installments starting on
the third anniversary of the grant date.
Vesting of stock option awards depends on time vesting, subject in general to the executive remaining in the Company’s employ
on specific vesting dates. The options granted in fiscal 2011 to Messrs. Eisenberg and Feinstein vest in three equal installments
starting on the first anniversary of the grant date. The options granted in fiscal 2011 to Messrs. Temares, Stark and Castagna vest
in five equal installments starting on the first anniversary of the grant date. At the time of grant or thereafter, option awards and
underlying shares of common stock, are not transferable other than by will or the laws of descent and distribution, except as the
Compensation Committee may permit.