Pep Boys 2011 Annual Report Download - page 146

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$1 million deduction limit under Section 162(m). In order to compete effectively for the acquisition and
retention of top executive talent, we believe that we must have the flexibility to pay salary, bonus and
other compensation that may not be fully deductible under Section 162(m). Accordingly, the
Compensation Committee retains the authority to authorize payments that may not be deductible
under Section 162(m) if it believes that such payments are in the best interests of Pep Boys and our
shareholders. All compensation paid to the named executive officers in fiscal 2011 was fully deductible.
Summary Compensation Table
The following table provides information regarding the fiscal 2011 compensation for Pep Boys’
CEO, CFO and the three other executive officers that received the highest compensation in fiscal 2011.
These executives are referred to herein as the ‘‘named executive officers.’’ As explained in our
Compensation Discussion and Analysis, the compensation provided to our named executive officers
consists of base salaries, short-term cash incentives, long-term equity incentives, retirement plan
contributions and heath and welfare benefits.
Non-
Equity
Incentive All
Stock Option Plan Other
Fiscal Salary Awards Awards Compensation Compensation Total
Name and Principal Position Year ($) ($)(a) ($)(b) ($)(c) ($)(d) ($)
Michael R. Odell ..... 2011 817,693 660,000 440,000 90,119 42,196 2,050,008
CEO(e) 2010 800,000 600,000 400,000 1,094,424 496,792 3,391,216
2009 800,000 — 670,073 1,145,600 392,250 3,007,923
Raymond L. Arthur . . . 2011 521,731 150,000 100,000 57,482 29,016 858,229
EVP—CFO 2010 500,000 120,000 80,000 513,012 298,655 1,511,667
2009 500,000 — 68,885 607,313 317,544 1,493,742
William E. Shull III . . . 2011 345,769 105,000 70,000 38,095 21,880 580,744
EVP—Stores(f) 2010 320,000 96,000 64,000 284,550 157,520 922,070
2009 320,000 — 68,885 233,208 104,414 726,507
Scott A. Webb ....... 2011 441,923 135,000 90,000 48,689 19,745 735,357
EVP—Merch. & 2010 400,000 120,000 80,000 355,688 120,547 1,076,235
Marketing(g) 2009 400,000 — 68,885 291,510 71,181 831,576
Joseph A. Cirelli ...... 2011 314,235 69,000 46,000 20,773 18,291 468,298
SVP—Corporate 2010 302,509 69,000 46,000 186,229 135,601 739,339
Development 2009 300,020 — 38,748 218,647 121,819 679,234
(a) Represents the grant date fair value calculated under ASC 718.
(b) Represents the grant date fair value calculated under ASC 718.
(c) Represents amounts earned under our Annual Incentive Compensation Plan in the year reported,
that were paid, or payable but deferred at the executive officer’s election, in the following fiscal
year. For fiscal 2011, the amount reflected for Mr. Odell does not include $30,000 that he was
otherwise entitled to receive, but declined. Such amount, at Mr. Odell’s request, was allocated to
an account set aside by Pep Boys to provide associates’ children with educational scholarships and
to provide hardship assistance to Pep Boys’ associates.
102