Pier 1 2009 Annual Report Download - page 112
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The following table shows fiscal 2009 DSU’s for each non-employee director given his or her fees,
deferral percentage and Pier 1 Imports’ match:
Total Dividends Aggregate
Fiscal Fiscal DSU’s DSU’s Deferred DSU’s DSU’s
Year Year Converted Converted During Converted Owned at
2009 2009 from from 25% Fiscal from Fiscal
Fees Fees Deferred Company Year Deferred 2009
Earned Deferral Deferred Fees Match 2009 Dividends Year-End
Name ($) %(a) ($) (#) (#) ($) (#) (#)
John H. Burgoyne ...... $175,000 75% / 10% $112,292 21,973 4,708 $0 0 86,929
Michael R. Ferrari ..... $160,000 50% / 10% $ 69,333 15,615 3,660 $0 0 75,474
Robert B. Holland, III . . . $150,000 100% / 10% $127,500 23,029 5,757 $0 0 52,534
Karen W. Katz ........ $150,000 100% / 10% $127,500 23,029 5,757 $0 0 91,045
Terry E. London ....... $175,000 50% / 10% $ 75,833 17,079 3,660 $0 0 50,441
Cece Smith ........... $150,000 100% / 10% $127,500 23,029 5,757 $0 0 52,534
Tom M. Thomas ....... $225,000 100% / 10% $191,250 34,543 5,757 $0 0 145,334
(a) Given Pier 1 Imports’ unprecedented stock price decline, effective January 1, 2009, each non-employee
director elected to defer only 10% of his or her cash fees. If the historical deferral elections had
remained in place effective January 1, 2009, then given the stock price shown below for January 2, 2009
and similarly lower prices after that date, those elections would have resulted in a depletion of shares
available for grant under the Pier 1 Imports, Inc. 2006 Stock Incentive Plan.
The following table shows the Pier 1 Imports’ common stock closing price by date used to
calculate the number of DSU’s to be received for deferred director fees plus Pier 1 Imports’ match.
This closing price also represents the grant date fair value per share of each award in accordance with
SFAS 123R.
Closing Price of Pier 1 Imports’
Common Stock on Date on which Fees
Date on which Fees were Paid were Paid
April 11, 2008 $7.45
January 2, 2009 $0.40
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