Big Lots 2011 Annual Report Download - page 67

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(2) The restricted stock awards reported in column (i) were made in fiscal 2011 for Mr. Fishman and in fiscal
2011 and fiscal 2010 for the other named executive officers, pursuant to the 2005 LTIP. Mr. Fishman’s fiscal
2011 restricted stock award vests if we achieve a corporate financial goal established at the beginning of
fiscal 2011 and Mr. Fishman remains employed by us on the anniversary of the grant date of the award.
Mr. Fishman’s fiscal 2011 restricted stock award vested as we achieved the corporate performance goal and
Mr. Fishman was employed by us on the anniversary of the grant date. For Mr. Cooper, Ms. Bachmann,
Mr. Haubiel and Mr. Martin, the first trigger for the fiscal 2011 and fiscal 2010 awards is $1.50, the second
trigger for the fiscal 2011 restricted stock awards is $3.52 and the second trigger for the fiscal 2010 restricted
stock awards is $2.94. Based on our performance in fiscal 2011, we achieved the first trigger but not the
second trigger applicable to the fiscal 2011 restricted stock awards and we achieved the second trigger
applicable to the fiscal 2010 restricted stock awards. Accordingly, the 2010 restricted stock awards vested on
the first trading day after we filed with the SEC our Form 10-K for fiscal 2011. For additional information
regarding the fiscal 2011 restricted stock awards, including the vesting terms, see the narrative preceding the
Grants of Plan-Based Awards in Fiscal 2011 table and the “Our Executive Compensation Program for Fiscal
2011 – Equity for Fiscal 2011” section of the CD&A.
Option Exercises and Stock Vested in Fiscal 2011
The following table reflects all stock option exercises and the vesting of restricted stock held by each of our named
executive officers during fiscal 2011.
Option Awards Stock Awards
Name
Number of
Shares
Acquired
on Exercise
(#)
Value
Realized
on Exercise
($)
Number of
Shares
Acquired
on Vesting
(#)
Value
Realized
on Vesting
($)
(a) (b) (c) (d) (e)
Mr. Fishman — — 250,000 10,897,500
Mr. Cooper — — — —
Ms. Bachmann 40,250 821,612 — —
Mr. Haubiel — — — —
Mr. Martin — — — —
Nonqualified Deferred Compensation
Supplemental Savings Plan
All of our named executive officers, as well as substantially all other full-time employees, are eligible to participate
in the Savings Plan, our “401(k) plan.” The Supplemental Savings Plan is maintained for those executives
participating in the Savings Plan who desire to contribute more than the amount allowable under the Savings
Plan. The Supplemental Savings Plan constitutes a contract to pay deferred compensation and limits deferrals in
accordance with prevailing tax law. The Supplemental Savings Plan is designed to pay the deferred compensation
in the same amount as if contributions had been made to the Savings Plan. We have no obligation to fund the
Supplemental Savings Plan, and all assets and amounts payable under the Supplemental Savings Plan are subject to
the claims of our general creditors.
In order to participate in the Savings and Supplemental Savings Plans, an eligible employee must satisfy applicable
age and service requirements and must make contributions to such plans (“Participant Contributions”). Participant
Contributions are made through authorized payroll deductions to one or more of the several investment funds
available under the Savings and Supplemental Savings Plans and selected at the discretion of the participant. All
Participant Contributions are matched by us (“Registrant Contributions”) at a rate of 100% for the first 2% of
salary contributed and 50% for the next 4% of salary contributed. Additionally, the amount of the Registrant
Contribution is subject to the maximum annual compensation that may be taken into account for benefit calculation