Dollar General 2007 Annual Report Download - page 23
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21
performance annual or cumulative financial-based targets over time which coincide with our
fiscal year. The options also have certain accelerated vesting provisions upon a change in control
or initial public offering, as defined in the new incentive plan.
Effective January 21, 2008, our Board also granted to Mr. Dreiling 890,000 shares of
restricted common stock pursuant to the terms of the new stock incentive plan. The restricted
stock will vest on the last day of our 2011 fiscal year if Mr. Dreiling remains employed by us
through that date. The restricted stock also has certain accelerated vesting provisions upon a
change in control, initial public offering, termination without cause or due to death or disability,
or resignation for good reason, all as defined in Mr. Dreiling’ s employment agreement.
The share issuances, the Rollover Options and the new option and restricted stock grants
described above were effected without registration in reliance on (1) the exemptions afforded by
Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”), because the sales
did not involve any public offering, (2) Rule 701 promulgated under the Securities Act for shares
that were sold under a written compensatory benefit plan or contract for the participation of our
employees, directors, officers, consultants and advisors, and (3) Regulation S promulgated under
the Securities Act relating to offerings of securities outside of the United States.