Pep Boys 2011 Annual Report Download - page 138
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independent registered public accounting firm’s attestation, on internal control over financial reporting
in accordance with Section 404 of the Sarbanes-Oxley Act of 2002.
The Audit Committee also discussed with the independent registered public accounting firm its
independence from Pep Boys and its management, including the written disclosures submitted to the
Audit Committee by the independent registered public accounting firm as required by the Public
Company Accounting Oversight Board.
Based upon the discussions and reviews referred to above, the Audit Committee recommended
that the Board of Directors include the audited consolidated financial statements and management’s
report on internal control over financial reporting in Pep Boys’ Annual Report on Form 10-K for the
fiscal year ended January 28, 2012 filed with the SEC.
This report is submitted by: Jane Scaccetti; Robert H. Hotz; Irvin D. Reid; and James A. Williams.
ITEM 11 EXECUTIVE COMPENSATION
NON-MANAGEMENT DIRECTORS
Cash Retainer. Each non-management director (other than the Chairman of the Board) receives
an annual cash retainer of $35,000. Our Chairman of the Board receives an annual cash retainer of
$100,000.
Committee Compensation. Directors serving on our committees also receive the following annual
cash fees.
Chair Member
Audit ............................................ $20,000 $12,000
Compensation ..................................... $15,000 $ 7,500
Nominating and Governance ........................... $10,000 $ 5,000
Operating Efficiency ................................. $10,000 $ 5,000
Equity Grants. The 2009 Stock Incentive Plan provides for an annual equity grant having an
aggregate value of $55,000 to non-management directors. The Stock Incentive Plan is administered,
interpreted and implemented by the Compensation Committee.
The following table details the compensation paid to non-employee directors during the fiscal year
ended January 28, 2012.
Director Compensation Table
Fees Earned or
Paid in Cash Equity Awards Total
Name ($) ($) ($)
M. Shˆ
an Atkins ...................... 55,000 55,000 110,000
Robert H. Hotz ...................... 62,125 55,000 117,125
James A. Mitarotonda ................. 47,500 55,000 102,500
Irvin D. Reid ........................ 49,500 55,000 104,500
Jane Scaccetti ........................ 60,000 55,000 115,000
John T. Sweetwood .................... 50,000 55,000 105,000
Nick White ......................... 45,000 55,000 100,000
James A. Williams .................... 52,000 55,000 107,000
Max L. Lukens(1) ..................... 75,000 55,000 130,000
(1) Mr. Lukens resigned from the Board and his position as Chairman of the Board for
personal reasons on September 10, 2011
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