Pep Boys 2011 Annual Report Download - page 149

(b) Such options became exercisable on February 26, 2012.
(c) One-half of such options became/become exercisable on each of March 30, 2012 and 2013.
(d) One-third of such options became/become exercisable on each of March 29, 2012, 2013 and 2014.
(e) Such RSUs will vest on February 2, 2013 if the Company achieves certain predetermined
performance criteria.
(f) Such RSUs will vest on February 1, 2014 if the Company achieves certain predetermined
performance criteria.
Option Exercises and Stock Vested Table
The following table shows information regarding stock options exercised by the named executive
officers and RSUs held by the named executive officers that vested, during fiscal 2011.
Option Awards Stock Awards
Number of Number of
Shares Value Shares Value
Acquired on Realized on Acquired on Realized on
Name Exercise (#) Exercise ($) Vesting (#) Vesting ($)(a)
Michael R. Odell .......................... — — 12,805 132,020
Raymond L. Arthur ........................ — — 8,334 114,176
William E. Shull III ........................ — — 2,000 18,180
Scott A. Webb ............................ — — 10,573 116,039
Joseph A. Cirelli ........................... — — 3,000 39,150
(a) Based upon the closing price of a share of Pep Boys Stock on the vesting date(s).
Pension Plans
Qualified Defined Benefit Pension Plan. We have a qualified defined benefit pension plan for all
employees hired prior to February 2, 1992. Future benefit accruals on behalf of all participants were
frozen under this plan as of December 31, 1996. Benefits payable under this plan are calculated based
on the participant’s compensation (base salary plus accrued bonus) over the last five years of the
participant’s employment by Pep Boys and the number of years of participation in the plan. Benefits
payable under this plan are not subject to deduction for Social Security or other offset amounts. The
maximum annual benefit for any employee under this plan is $20,000. Mr. Cirelli is the only named
executive officer who participated in the qualified defined benefit pension plan in fiscal 2011. His
accrued annualized benefit thereunder, at normal retirement age, is $19,162.
Nonqualified Defined Contribution and Other Nonqualified Deferred Compensation Plans
As explained in our Compensation Discussion and Analysis, set forth below is information
regarding benefits under our non-qualified defined contribution plan (our Account Plan) and Deferred
Compensation Plan for our named executive officers. The Account Plan is a retirement plan pursuant
to which we make annual contributions based upon a named executive officer’s age and then current
compensation. In order to further assist our named executive officers with their retirement savings, the
Deferred Compensation Plan allows participants to defer up to 20% of their annual salary and 100% of
their annual bonus. In order to further encourage share ownership and more directly align the interests
of named executive officers with that of our shareholders, the first 20% of an executive’s bonus
deferred into Pep Boys Stock is matched by the Company on a one-for-one basis with Pep Boys Stock
that vests over three years.
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