Bed, Bath and Beyond 2014 Annual Report Download - page 68
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Please find page 68 of the 2014 Bed, Bath and Beyond annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Cash
Severance
Senior Status
Salary
Continuation
(3)
Option
Acceleration
(4)
Restricted
Stock
Acceleration
(4)
Warren Eisenberg
(10)
Termination Without Cause/
Constructive Termination
(1)(2)
$ 2,191,971 $5,743,956 $ — $ 3,552,173
Change in Control (No Termination) $ — $ — $ — $ —
Change in Control + Termination
(11)
$ 3,300,000 $ — $ — $ 3,552,173
Leonard Feinstein
(10)
Termination Without Cause/
Constructive Termination
(1)(2)
$ 2,191,971 $5,743,956 $ — $ 3,552,173
Change in Control (No Termination) $ — $ — $ — $ —
Change in Control + Termination
(11)
$ 3,300,000 $ — $ — $ 3,552,173
Steven H. Temares
(12)
Termination Without Cause
(11)
$11,902,500 $ — $8,333,619 $13,942,382
Voluntary Termination
(13)
$ 3,967,500 $ — $ — $ —
Change in Control (No Termination) $ — $ — $ — $ —
Change in Control + Termination
(11)
$11,902,500 $ — $8,333,619 $13,942,382
Arthur Stark
(14)
Termination Without Cause
(11)
$ 5,070,000 $ — $2,133,124 $ 6,780,173
Voluntary Termination
(13)
$ 1,690,000 $ — $ — $ —
Change in Control (No Termination) $ — $ — $ — $ —
Change in Control + Termination
(11)
$ 5,070,000 $ — $2,133,124 $ 6,780,173
Eugene A. Castagna
(14)
Termination Without Cause
(13)
$ 1,690,000 $ — $2,133,124 $ 5,624,810
Voluntary Termination
(13)
$ 1,690,000 $ — $ — $ —
Change in Control (No Termination) $ — $ — $ — $ —
Change in Control + Termination
(13)
$ 1,690,000 $ — $2,133,124 $ 5,624,810
Susan E. Lattmann
(14)
Termination Without Cause
(13)
$ 750,000 $ — $ 176,336 $ 1,231,367
Change in Control (No Termination) $ — $ — $ — $ —
Change in Control + Termination
(13)
$ 750,000 $ — $ 176,336 $ 1,231,367
Matthew Fiorilli
(14)
Termination Without Cause
(11)
$ 4,725,000 $ — $2,133,124 $ 5,404,787
Voluntary Termination
(13)
$ 1,575,000 $ — $ — $ —
Change in Control (No Termination) $ — $ — $ — $ —
Change in Control + Termination
(11)
$ 4,725,000 $ — $2,133,124 $ 5,404,787
(1) Cash severance represents current salary continuation through February 25, 2017.
(2) In the event of a termination of employment due to death or disability, each of Messrs. Eisenberg and Feinstein (or their respective
estates) will receive the same payments as if there was a ‘‘Termination Without Cause/Constructive Termination,’’ except that
neither Mr. Eisenberg nor Mr. Feinstein (nor their respective estates) will receive either ‘‘Senior Status Salary Continuation” or
“Benefit Continuation’’ payments.
(3) Represents $400,000, adjusted for the cost of living increase between June 30, 2000 and June 30, 2014 for the CPI-U for NY,
Northern NJ and LI, for 10 years during the Senior Status Period.
(4) Represents the value of unvested outstanding stock options and restricted stock that would accelerate and vest on a termination
occurring on February 28, 2015. In the case of stock options, the value is calculated by multiplying the number of shares underlying
each accelerated unvested stock option by the difference between the Per Share Closing Price and the per share exercise price. In
the case of restricted stock, the value is calculated by multiplying the number of shares of restricted stock that accelerate and vest
by the Per Share Closing Price.
(5) Represents the value of unvested outstanding performance stock unit (‘‘PSU’’) awards that would accelerate and vest on a
termination without cause (and, in the cases of Messrs. Eisenberg and Feinstein, upon a termination without cause or constructive
termination), subject to attainment of any applicable performance goals and after the Compensation Committee certifies
achievement of the applicable performance test. These values represent acceleration of the portion of PSU awards subject to the
one-year performance goal at target, which result was reasonably estimable on February 28, 2015 based on assumptions regarding
the performance of the peer companies. The portion of PSU awards subject to a three-year performance goal, based on relative
performance against the peer companies, was substantially uncertain on February 28, 2015 and is not included. For a more
complete discussion of the metrics and method of calculating the applicable performance metrics for PSU awards, please see the
discussion of Performance Stock Units in the Equity Compensation section of the Compensation Discussion & Analysis above.
(6) Represents the estimated present value of continued health and welfare benefits and other perquisites for the life of the executive
and his spouse.
BED BATH & BEYOND PROXY STATEMENT
66