Best Buy 2009 Annual Report Download - page 16
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options to purchase the number of shares he would times their annual cash retainer. Newly appointed
have received be contributed to a discretionary award directors have five years from their date of appointment
pool to be distributed to our employees. The grants to achieve the expected level of stock ownership.
were made under the Omnibus Plan, vested immediately Deferred Compensation Plan
on the grant date and can generally be exercised over a
Each calendar year, we offer directors the right to defer
10-year period.
up to 100% of their annual and committee chair
The Compensation Committee also considers stock retainers under our Deferred Compensation Plan which
option grants for new directors at the time they are is described in Non-Qualified Deferred Compensation
appointed to the Board. Because annual director stock Plan on page 48. No company contributions or
option grants are made in April, special appointment- matching contributions are made for the benefit of
based grants are prorated based on the number of directors under the Deferred Compensation Plan.
months remaining prior to the time when the
Other Benefits
Compensation Committee expects to consider the next
annual director grant. We reimburse all directors for travel and other necessary
business expenses incurred in performance of their
Director Stock Ownership Guidelines
services for us. In addition, all directors are covered
The Compensation Committee has established stock under a directors’ and officers’ indemnity insurance
ownership guidelines for our non-management directors. policy.
Each non-management director is expected to own
shares of our common stock equivalent in value to five
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