Pier 1 2016 Annual Report Download - page 119

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COMPENSATION
The following table sets forth information relating to grants of plan-based awards during the fiscal year ended February 27, 2016 to the
NEOs shown in the table included under the caption “Summary Compensation Table for the Fiscal Years Ended February 27,
2016, February 28, 2015, and March 1, 2014.” The table includes certain performance-based restricted shares awarded in previous
fiscal years that were based on the fiscal 2016 Profit Goal.
NAME GRANT
DATE
ESTIMATED FUTURE PAYOUTS
UNDER NON-EQUITY
INCENTIVE PLAN AWARDS (1)
ESTIMATED FUTURE PAYOUTS
UNDER EQUITY INCENTIVE
PLAN AWARDS (2)
ALL OTHER
STOCK
AWARDS:
NUMBER
OF SHARES
OF STOCK
OR UNITS
(#)
ALL OTHER
OPTION
AWARDS:
NUMBER OF
SECURITIES
UNDERLYING
OPTIONS
(#)
EXERCISE
OR BASE
PRICE OF
OPTION
AWARDS
($/Share)
GRANT
DATE FAIR
VALUE OF
STOCK
AND
OPTION
AWARDS (3)
($)
THRESHOLD
($)
TARGET
($)
MAXIMUM
($)
THRESHOLD
(#)
TARGET
(#)
MAXIMUM
(#)
Alexander W. Smith
04/02/2015 $431,250 $1,437,500 $2,875,000 N/A N/A N/A N/A
03/03/2013 20,000 40,000 40,000 N/A N/A $524,400
03/02/2014 20,000 40,000 40,000 N/A N/A $524,400
03/01/2015 20,000 40,000 40,000 N/A N/A $524,400
03/01/2015 15,000 30,000 75,000 N/A N/A $506,700
Jeffrey N. Boyer
(appointed July 27, 2015)
07/27/2015 $ 65,625 $ 218,750 $ 437,500 N/A N/A N/A N/A
07/27/2015 9,864 19,729 39,458 N/A N/A $231,618
07/27/2015 1,974 3,949 7,898 N/A N/A $ 63,737
07/27/2015 N/A 15,785 N/A N/A $185,316
Laura A. Coffey
04/02/2015 $ 73,125 $ 243,750 $ 487,500 N/A N/A N/A N/A
04/12/2013 497 994 994 N/A N/A $ 13,031
04/11/2014 591 1,182 1,182 N/A N/A $ 15,496
05/11/2015 4,311 8,623 17,246 N/A N/A $112,616
05/11/2015 863 1,726 3,452 N/A N/A $ 27,858
04/10/2015 N/A 6,898 N/A N/A $ 96,848
Michael R. Benkel
04/02/2015 $ 81,000 $ 270,000 $ 540,000 N/A N/A N/A N/A
04/12/2013 867 1,734 1,734 N/A N/A $ 22,733
04/11/2014 1,086 2,172 2,172 N/A N/A $ 28,475
05/11/2015 6,823 13,646 27,292 N/A N/A $178,217
05/11/2015 1,365 2,730 5,460 N/A N/A $ 44,062
04/10/2015 N/A 10,917 N/A N/A $153,275
Catherine David
04/02/2015 $100,500 $ 335,000 $ 670,000 N/A N/A N/A N/A
04/12/2013 1,104 2,208 2,208 N/A N/A $ 28,947
04/11/2014 1,297 2,594 2,594 N/A N/A $ 34,007
05/11/2015 8,529 17,058 34,116 N/A N/A $222,777
05/11/2015 1,706 3,412 6,824 N/A N/A $ 55,070
04/10/2015 N/A 13,646 N/A N/A $191,590
Eric W. Hunter
04/02/2015 $ 97,500 $ 325,000 $ 650,000 N/A N/A N/A N/A
04/11/2014 1,089 2,179 2,179 N/A N/A $ 28,567
05/11/2015 7,008 14,016 28,032 N/A N/A $183,049
05/11/2015 1,402 2,804 5,608 N/A N/A $ 45,257
04/10/2015 N/A 11,212 N/A N/A $157,416
Sharon M. Leite
(resigned January 15, 2016)
04/02/2015 $ 78,750 $ 262,500 $ 525,000 N/A N/A N/A N/A
04/12/2013 946 1,893 1,893 N/A N/A $ 24,817
04/11/2014 1,206 2,413 2,413 N/A N/A $ 31,634
05/11/2015 8,055 16,110 32,220 N/A N/A $210,397
05/11/2015 1,611 3,223 6,446 N/A N/A $ 52,019
04/10/2015 N/A 12,888 N/A N/A $180,948
(1) These columns show the potential value of the payout for each NEO under the annual short-term incentive cash award described above (grant date April 2, 2015 other than Mr. Boyer whose grant date
was July 27, 2015) if the threshold, target or maximum amount of the Profit Goal for fiscal 2016 was met. The calculations for the short-term incentives are based on the NEOs’ fiscal 2016 annual base
salary. The fiscal 2016 annual base salary in effect for incentive cash award calculations for Mr. Smith was $1,250,000; for Mr. Boyer was $500,000; for Ms. Coffey was $325,000; for Mr. Benkel was
$360,000; for Ms. David was $430,000 for the period March 1, 2015 through April 25, 2015 and $450,000 for the period April 26, 2015 through February 27, 2016; for Mr. Hunter was $425,000 for the
period March 1, 2015 through April 25, 2015 and $435,000 for the period April 26, 2015 through February 27, 2016; and for Ms. Leite was $400,000 for the period March 1, 2015 through April 25, 2015
and $425,000 for the period April 26, 2015 through January 15, 2016. The Realized Profit for fiscal 2016 was below the threshold set for fiscal 2016 and, as a result, no fiscal 2016 short-term incentives
were earned.
(2) These columns show the potential number of shares that will vest for each NEO (other than Mr. Boyer) under the Profit Goal performance-based restricted stock awards described above (award dates
April 12, 2013 and April 11, 2014, except for Mr. Smith who had March 3, 2013, March 2, 2014, and March 1, 2015 award dates) if the threshold, target, or maximum amount of the fiscal 2016 Profit Goal
was met. These columns also show the potential number of shares for each NEO, other than Mr. Smith, under the Profit Goal performance-based restricted stock awards described above (award date
May 11, 2015, except for Mr. Boyer who had a July 27, 2015 award date) if the threshold, target, or maximum amount of the fiscal 2016-2018 Profit Goal is met. These columns also show the potential
number of shares that will vest for each NEO under the TSR performance-based shares described above (award date May 11, 2015, except for Mr. Smith who had a March 1, 2015 award date and
Mr. Boyer who had a July 27, 2015 award date) if the threshold, target, or maximum percentile TSR ranking within a peer group is attained.
(3) This column represents the aggregate grant date fair value of performance-based and time-based restricted stock awarded during the fiscal year, computed in accordance with FASB ASC Topic
718. Refer to footnote 2 of the Summary Compensation Table for additional information. During fiscal 2016, Pier 1 Imports also began expensing performance-based restricted shares awarded in previous
fiscal years that were based on the fiscal 2016 Profit Goal.
PIER 1 IMPORTS, INC. | 2016 Proxy Statement 37