Pier 1 2009 Annual Report Download - page 144

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Summary Compensation Table for the Fiscal Years Ended February 28, 2009, March 1, 2008 and
March 3, 2007
The following table sets forth a summary of the compensation in the past three fiscal years for
services rendered in all capacities to Pier 1 Imports and its subsidiaries by the chief executive officer,
chief financial officer, three other most highly compensated executive officers, and one additional
individual for whom disclosure would be required but for the fact that the individual was not serving as
a Pier 1 Imports executive officer at the fiscal year-end.
Change in
Pension
Value and
Non-Equity Non-Qualified
Incentive Deferred
Stock Option Plan Compensation All Other
Name & Principal Fiscal Salary(2) Bonus Awards(3) Awards(4) Compensation Earnings(5) Compensation(6) Total
Position Year ($) ($) ($) ($) ($) ($) ($) ($)
Alexander W. Smith . . . 2009 $1,049,039 $ 0 N/A $1,399,166 $ 0 $ 285,125 $ 6,996 $2,740,326
President and Chief 2008 $1,000,000 $750,000 N/A $1,434,638 $ 0 $3,883,868 $637,144 $7,705,650
Executive Officer 2007 $ 22,243 $ 0 N/A $ 47,296 $ 0 N/A $ 46,598 $ 116,137
Charles H. Turner .... 2009 $ 459,423 $ 0 $121,004 $ 135,226 $ 0 $ 654,707 $ 22,138 $1,392,498
Executive Vice 2008 $ 425,231 $ 0 $141,241 $ 94,609 $387,000 $ 385,998 $ 65,920 $1,499,999
President and Chief 2007 $ 377,692 $ 0 $102,916 $ 42,692 $ 0 $ 107,777 $ 79,832 $ 710,909
Financial Officer
Gregory S.
Humenesky(1) ..... 2009 $ 329,423 $ 0 $121,004 $ 142,675 $ 0 $ 68,365 $ 9,300 $ 670,767
Executive Vice 2008 $ 296,923 $ 0 $141,241 $ 102,472 $270,000 $ 12,034 $ 28,252 $ 850,922
President, Human
Resources
Jay R. Jacobs ....... 2009 $ 419,423 $ 0 $121,004 $ 200,524 $ 0 $ 559,882 $ 26,055 $1,326,888
Executive Vice 2008 $ 392,115 $ 0 $141,241 $ 116,212 $351,000 $ 363,390 $ 64,381 $1,428,339
President, 2007 $ 377,692 $ 0 $102,916 $ 44,680 $ 0 $ 9,926 $ 74,334 $ 609,548
Merchandising
Sharon M. Leite(1) . . . 2009 $ 329,423 $ 0 $ 45,479 $ 54,805 $ 0 N/A $ 24,066 $ 453,773
Executive Vice
President, Stores
David A. Walker ..... 2009 $ 207,192 $ 0 $ 41,746 $ 153,230 $ 0 $ 410,970 $394,861 $1,207,999
Executive Vice 2008 $ 340,000 $ 0 $141,241 $ 223,573 $306,000 $ 212,893 $ 50,837 $1,274,544
President, Planning 2007 $ 291,922 $ 0 $102,916 $ 131,570 $ 0 $ 174,279 $ 51,954 $ 752,641
and Allocations
(Employment ended
August 15, 2008)
(1) Mr. Humenesky was not a named executive officer in fiscal 2007. Ms. Leite’s employment began in fiscal 2008 and she was
not a named executive officer in fiscal 2008.
(2) This column represents the amount of base salary paid to the named executive officer during each fiscal year. As noted
above in the Compensation Discussion and Analysis, base salary for fiscal 2009 was increased due to a one-time adjustment
for the discontinuation of allowances for certain perquisites and reimbursement for certain medical expenses.
(3) This column represents the dollar amount recognized for financial statement reporting purposes in each fiscal year for the
fair value of time-based and performance-based restricted stock awards granted during such fiscal year as well as in prior
fiscal years, in accordance with SFAS 123R. The amounts shown exclude the impact of estimated forfeitures related to
service-based vesting conditions. For time-based restricted stock awards, fair value is calculated using the closing price of
Pier 1 Imports’ common stock on the date of grant. No amount was expensed in fiscal years 2007, 2008 or 2009 for the
performance-based restricted stock awards granted in fiscal 2007 because the three-year cumulative adjusted consolidated
EBITDA performance goal of $331,000,000 was not met. These amounts reflect Pier 1 Imports’ accounting expense for
these awards, and do not necessarily correspond to the actual value that will be recognized by the named executive officer.
(4) This column represents the dollar amount recognized for financial statement reporting purposes for each fiscal year for the
fair value of stock options granted in such fiscal year as well as in prior fiscal years, in accordance with SFAS 123R. The
amounts shown exclude the impact of estimated forfeitures related to service-based vesting conditions. The following table
sets forth additional information on the valuation assumptions used in the calculation of the fiscal 2009 option awards
46