Dollar Tree 2014 Annual Report Download - page 73

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The Company did not repurchase any shares of common stock on the open market in 2014. The Company repurchased 2.4
million shares for $112.1 million on the open market in fiscal 2013 and 7.7 million shares for $340.2 million on the open market
in fiscal 2012. At January 31, 2015, the Company had $1.0 billion remaining under Board repurchase authorization.
NOTE 8 – EMPLOYEE BENEFIT PLANS
Profit Sharing and 401(k) Retirement Plan
The Company maintains a defined contribution profit sharing and 401(k) plan which is available to all employees over 21
years of age who have completed one year of service in which they have worked at least 1,000 hours. Eligible employees may
make elective salary deferrals. The Company may make contributions at its discretion.
Contributions to and reimbursements by the Company of expenses of the plan included in "selling, general and
administrative expenses" in the accompanying consolidated income statements were as follows:
Year ended January 31, 2015 $41.1 million
Year ended February 1, 2014 $35.8 million
Year ended February 2, 2013 $40.7 million
Eligible employees vest in the Company’s profit sharing contributions based on the following schedule:
20% after two years of service
40% after three years of service
60% after four years of service
100% after five years of service
All eligible employees are immediately vested in any Company match contributions under the 401(k) portion of the plan.
Deferred Compensation Plan
The Company has a deferred compensation plan which provides certain officers and executives the ability to defer a portion
of their base compensation and bonuses and invest their deferred amounts. The plan is a nonqualified plan and the Company
may make discretionary contributions. The deferred amounts and earnings thereon are payable to participants, or designated
beneficiaries, at specified future dates, or upon retirement or death. Total cumulative participant deferrals and earnings were
approximately $5.5 million and $5.1 million, respectively, at January 31, 2015 and February 1, 2014, and are included in "other
liabilities" on the accompanying consolidated balance sheets. The related assets are included in "other assets, net" on the
accompanying consolidated balance sheets. The Company did not make any discretionary contributions in the years ended
January 31, 2015, February 1, 2014, or February 2, 2013.
NOTE 9 - STOCK-BASED COMPENSATION PLANS
Fixed Stock Option Compensation Plans
Under the Equity Incentive Plan (EIP), the Company granted up to 18.0 million shares of its Common Stock, plus any
shares available for future awards under the 1995 Stock Incentive Plan, to the Company’s employees, including executive
officers and independent contractors. The EIP permitted the Company to grant equity awards in the form of stock options,
stock appreciation rights and restricted stock. The exercise price of each stock option granted equaled the market price of the
Company’s stock at the date of grant. The options generally vested over a three -year period and have a maximum term of 10
years. This plan was terminated on June 16, 2011 and replaced with the Company’s Omnibus Incentive Plan (Omnibus Plan).
The Executive Officer Equity Incentive Plan (EOEP) was available only to the Chief Executive Officer and certain other
executive officers. These officers no longer received awards under the EIP. The EOEP allowed the Company to grant the same
type of equity awards as the EIP. These awards generally vested over a three-year period, with a maximum term of 10 years for
stock options. This plan was terminated on June 16, 2011 and replaced with the Omnibus Plan.
Stock appreciation rights may be awarded alone or in tandem with stock options. When the stock appreciation rights are
exercisable, the holder may surrender all or a portion of the unexercised stock appreciation right and receive in exchange an
amount equal to the excess of the fair market value at the date of exercise over the fair market value at the date of the grant. No
stock appreciation rights have been granted to date.
Any restricted stock or RSUs awarded are subject to certain general restrictions. The restricted stock shares or units may
not be sold, transferred, pledged or disposed of until the restrictions on the shares or units have lapsed or have been removed