Best Buy 2009 Annual Report Download - page 47

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director on April 14, 2003 — 11,250 shares; April 11, 2002 — 11,250 shares; April 27, 2001 — 11,250 shares; April 14, 2000 —
11,250 shares; and April 16, 1999 — 11,250 shares.
(3) These values were determined based on the closing price of Best Buy common stock on February 27, 2009, the last trading day in fiscal
2009. The closing price as reported by the NYSE on February 27, 2009, was $28.82.
(4) Performance-based restricted stock award that will be earned depending on the level of achievement of performance goals established for the
following metrics: (i) comparable store sales; (ii) profit growth; and (iii) revenue growth. The earned portion of the first 50% of the award, if
any, is scheduled to vest by February 26, 2011, with the remaining 50% of the award, if any, scheduled to vest by March 3, 2012.
(5) Time-based restricted stock award which vested 25% on the grant date, and will vest an additional 25% on each of the next three anniversaries
of the grant date, provided the executive has been continually employed with us through those dates.
(6) Performance-based restricted stock award, scheduled to vest in a range from 0% to 100% on February 27, 2010 (end of fiscal 2010),
depending on the level of total shareholder return (‘‘TSR’’ is the compound annual growth rate that shareholders receive on their investment,
including both paid dividends and stock price appreciation) achieved by our common stock compared to the TSR of companies that comprise
the S&P 500 during a three-year incentive period.
(7) Time-based restricted stock award that vested 25% on the grant date and 25% on each of the next two anniversaries of the grant date. The
remaining 25% (625 unvested shares) is scheduled to vest on June 20, 2009.
(8) Performance-based restricted stock award, scheduled to vest in a range from 0% to 100% on February 26, 2011 (end of fiscal 2011),
depending on the level of TSR achieved by our common stock compared to the TSR of companies that comprise the S&P 500 during a
three-year incentive period.
(9) Time-based restricted stock award, scheduled to vest 100% on April 26, 2010, provided that the executive has been continually employed with
us through that date.
(10) Time-based restricted stock award which vested 25% on the grant date and vested another 25% on the next two anniversaries of the grant
date. The remaining 25% (5,000 shares) are scheduled to vest on July 4, 2009, provided the executive has been continually employed with us
through this date.
Options Exercised and Stock Vested
The table below provides a summary of the value realized in connection with stock option awards exercised and stock
awards vested for our named executive officers during fiscal 2009:
Option Awards Stock Awards
Number of Shares Number of Shares Value
Acquired on Value Acquired on Realized on
Exercise Realized on Vesting Vesting(2)
Name (#) Exercise(1) (#) ($)
Bradbury H. Anderson 195,000(3) $ 6,633,978 29,678(4) $855,320
James L. Muehlbauer — — 5,625(5) 245,444
Brian J. Dunn — — 26,709(4) 769,753
Robert A. Willett — — 28,693(6) 826,933
Shari L. Ballard — — 30,776(7) 886,964
David J. Morrish — — 22,480(8) 701,724
(1) Value based on market value of Best Buy common stock at the time of exercise, minus the exercise cost.
(2) Value based on the closing market price of Best Buy common stock on the vesting date.
(3) Mr. Anderson exercised options to purchase 65,000 shares on March 19, 2008, at an exercise price of $7.64 and an average
market price of $41.08; 65,000 shares on March 20, 2008, at an exercise price of $7.64 and an average market price of
$40.42; and 65,000 shares on March 24, 2008, at an exercise price of $7.64 and an average market price of $43.48.
(4) Performance-based restricted shares, granted on May 18, 2006, that were conditioned on the level of achievement of the
following four metrics, each of which carried equal weight: (i) EVA growth; (ii) revenue growth; (iii) Best Buy common stock price
and (iv) talent management. Based on performance across these metrics, 31% of the target for this award vested on
February 28, 2009.
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