Big Lots 2007 Annual Report Download - page 42

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The Board adopted minimum share ownership requirements for all outside directors and EMC members effective
in March 2008. These new requirements are designed to ensure that outside directors’ and executives’ long-term
interests are closely aligned with those of our shareholders. Under the new requirements, the outside directors
and EMC members must, at a minimum, own common shares having an aggregate value equal to the following
multiple of his or her Board retainer or salary (as is in effect at the time compliance with the requirements is
evaluated), as applicable:
Title Multiple of Retainer or Salary
Director 4x
Chief Executive Officer 4x
Executive Vice President 2x
Senior Vice President 1x
Shares counted toward these requirements include common shares held directly or through a broker, common
shares held under the Savings Plan or Supplemental Savings Plan, unvested restricted stock, and vested but
unexercised in-the-money stock options. Each existing director will be required to meet the requirements on the
date of the 2013 annual meeting of shareholders and at subsequent annual meetings. Each existing EMC member
will be required to meet the requirements on the date that adjustments to annual executive compensation are made
in 2013 and on subsequent annual adjustment dates. Newly elected directors’ and newly hired or promoted EMC
members will be required to meet the requirements on the first testing date for directors or executives following the
fifth anniversary of their election, hire or promotion, as applicable.
Summary Compensation Table
The following table sets forth the compensation earned by or paid to the named executive officers (Mr. Fishman,
our CEO; Mr. Cooper, our Chief Financial Officer; and each of our three other most highly compensated executive
officers in fiscal 2007) for fiscal 2007 and fiscal 2006.
Name and
Principal Position (1)
(a)
Year
(b)
Salary
($)
(c)
Bonus
($)
(d)
Stock
Awards
($)(2)
(e)
Option
Awards
($)(3)
(f)
Non-Equity
Incentive Plan
Compensation
($)(4)
(g)
Change in
Pension Value
and Nonqualified
Deferred
Compensation
Earnings
($)(5)
(h)
All Other
Compensation ($)
(6)(7)(8)
(i)
Tot al
($)(9)
(j)
Steven S. Fishman,
Chairman, Chief Executive
Officer and President
2007 1,015,000 — 3,371,258 1,537,656 1,810,765 — 24,927 7,759,606
2006 960,000 — 503,769 879,262 1,632,000 — 14,559 3,989,590
Joe R. Cooper,
Senior Vice President
and Chief Financial Officer
2007 396,208 — 367,080 150,348 353,320 — 29,988 1,296,944
2006 371,209 — 96,278 50,675 375,000 — 26,899 920,061
Brad A. Waite,
Executive Vice President, Human
Resources, Loss Prevention
and Risk Management
2007 532,747 — 507,061 157,603 708,875 7,705 30,237 1,944,228
2006 516,978 — 225,350 57,473 780,000 16,489 35,018 1,631,308
John C. Martin,
Executive Vice President,
Merchandising
2007 496,181 — 306,590 105,373 530,000 — 27,918 1,466,062
2006 473,475 — 128,977 26,574 570,000 — 25,929 1,224,955
Lisa M. Bachmann,
Senior Vice President,
Merchandise Planning/Allocation
and Chief Information Officer
2007 412,747 — 367,080 150,348 366,570 — 36,384 1,333,129
2006 396,195 — 96,278 50,675 400,000 — 29,901 973,049
(1) We are a party to an employment agreement with each of the named executive officers, the material terms of
which are described in the “Overview of our Executive Compensation Program - Employment Agreements”
section of the CD&A.