Pier 1 2016 Annual Report Download - page 121

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COMPENSATION
(2) Time-based restricted stock awards to the NEOs, other than Mr. Smith, vest according to the following schedule:
GRANT DATE VESTING
04/12/2013, 09/23/2013, 04/11/2014, 04/10/2015, and
07/27/2015
33%, 33%, and 34%, respectively, on each anniversary of the grant date provided that the participant is employed on the
vesting date.
10/16/2014 50% on October 16, 2019 and 50% on October 16, 2020.
(3) The time-based restricted stock awards received by Mr. Smith on March 3, 2013, March 2, 2014 and March 1, 2015 vest 60,000 shares per year on the last day of the fiscal year in which they were issued
and on the last day of each of the following two fiscal years, provided Mr. Smith is employed on the last day of each such fiscal year.
(4) Performance-based restricted stock awards to the NEOs, other than Mr. Smith, vest according to the following schedule, provided that the participant is employed on the vesting date, which is the date of
filing of Pier 1 Imports’ Annual Report on Form 10-K for the applicable fiscal year for Profit Goal performance-based shares and is within 30 days of the end of the measurement period for TSR
performance-based shares.
GRANT
DATE
SHARES
VEST
PERFORMANCE
MEASURE
MEASUREMENT
PERIODS
04/12/2013 33%, 33% and 34% Profit Goal Fiscal 2014, 2015, 2016
04/11/2014 33%, 33% and 34% Profit Goal Fiscal 2015, 2016, 2017
05/11/2015 100% (cliff vest) Profit Goal Fiscal 2016-2018 (cumulative)
07/27/2015 100% (cliff vest) Profit Goal Fiscal 2016-2018 (cumulative)
04/12/2013 100% (cliff vest) TSR v. peers End of fiscal 2016
04/11/2014 100% (cliff vest) TSR v. peers End of fiscal 2017
05/11/2015 100% (cliff vest) TSR v. peers End of fiscal 2018
07/27/2015 100% (cliff vest) TSR v. peers End of fiscal 2018
04/11/2014 100% (cliff vest) e-Commerce sales End of fiscal 2017
Number of shares shown for TSR performance-based shares and e-Commerce sales performance-based shares is the maximum amount. Number of shares for 04/12/2013 and 04/11/2014 Profit Goal
performance-based shares is the target and maximum amount. Number of shares for the 05/11/2015 and 07/27/2015 Profit Goal performance-based shares is the maximum amount. The threshold,
target, and maximum amount of performance-based shares for fiscal 2016 are shown above in the table included under the caption “Grants of Plan-Based Awards for the Fiscal Year ended February 27,
2016.”
(5) Performance-based restricted stock awards awarded to Mr. Smith vest according to the schedule below, provided that he is employed on the last day of the applicable fiscal year. Achievement for Profit
Goal performance-based shares is determined upon filing of Pier 1 Imports’ Annual Report on Form 10-K for the applicable fiscal year and vesting for TSR performance-based shares is within 30 days of
the end of the measurement period.
GRANT
DATE
SHARES
VESTING ANNUALLY
PERFORMANCE
MEASURE
MEASUREMENT
PERIODS
03/03/2013 40,000 Profit Goal Fiscal 2014, 2015, 2016
03/02/2014 40,000 Profit Goal Fiscal 2015, 2016, 2017
03/01/2015 40,000 Profit Goal Fiscal 2016, 2017, 2018
03/03/2013 75,000 (cliff vest) TSR v. peers End of fiscal 2016
03/02/2014 75,000 (cliff vest) TSR v. peers End of fiscal 2017
03/01/2015 75,000 (cliff vest) TSR v. peers End of fiscal 2018
Number of shares shown for TSR performance-based shares is the maximum amount. Number of shares shown for Profit Goal performance-based shares is the target and maximum amount. The
threshold, target and maximum amount of performance-based shares for fiscal 2016 is shown above in the table included under the caption “Grants of Plan-Based Awards for the Fiscal Year ended
February 27, 2016.”
PIER 1 IMPORTS, INC. | 2016 Proxy Statement 39