Staples 2007 Annual Report Download - page 58

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SUMMARY COMPENSATION TABLE
The following table sets forth certain information concerning the compensation of our Chief Executive Officer,
our Chief Financial Officer and the three other most highly compensated executive officers of Staples at the end of
our 2007 fiscal year, who we refer to collectively as the ‘‘named executive officers.’’
Non-Equity
Stock Option Incentive Plan All Other
Awards Awards Compensation Compensation
Name and Principal Position Year Salary ($) ($) (1)(3) ($) (2)(3) ($) (4) ($) (5) Total ($)
Ronald L. Sargent ........ 2007 1,108,775 5,701,269 3,568,908 621,006 471,292 11,471,250
Chairman & Chief Executive 2006 1,070,192 7,390,786 3,290,021 1,523,018 437,018 13,711,035
Officer
John J. Mahoney ......... 2007 671,450 1,501,345 2,538,509 225,640 192,223 5,129,167
Vice Chairman & Chief 2006 650,435 3,487,939 2,610,511 554,619 178,595 7,482,099
Financial Officer
Michael A. Miles, Jr. ...... 2007 671,450 984,525 1,774,439 225,640 76,538 3,732,592
President & Chief Operating 2006 650,529 2,437,252 1,434,106 554,596 72,843 5,149,326
Officer
Joseph G. Doody ......... 2007 520,883 1,009,995 1,719,352 252,145 119,454 3,621,829
President, North American 2006 504,333 1,611,098 754,174 447,715 118,433 3,435,753
Delivery
Demos Parneros .......... 2007 520,533 569,210 722,485 106,744 81,068 2,000,040
President, U.S. Retail 2006 500,379 1,694,507 580,290 306,760 90,930 3,172,866
(1) Reflects the annual expense for restricted stock and performance share awards granted to the named executive
officers. The fair value of these awards is based on the market price of our common stock on the date of grant.
These restricted stock awards vest according to specific schedules, ranging from three to five years. The shares of
restricted stock awarded to Messrs. Mahoney and Doody will fully vest prior to the scheduled vesting date upon
their retirement or resignation under our rule of 65, should they leave Staples before the end of the applicable
vesting period. Shares of our common stock covered by the performance share awards are issued at the end of a
three year performance period if applicable performance objectives are met, and may be issued before the end of
such period in certain circumstances following a change-in-control of Staples that are described under the caption
‘‘Accelerated Vesting of Awards’’ following the Grants of Plan-Based Awards for 2007 Fiscal Year table later in
this proxy statement.
(2) For options granted prior to May 1, 2005, the fair value for these options was estimated as of the date of grant
using a Black-Scholes option-pricing model. For stock options granted on or after May 1, 2005, the fair value of
each award is estimated as of the date of grant using a binomial valuation model. Additional information
regarding the assumptions used to estimate the fair value of all stock option awards is included in Note H to
Consolidated Financial Statements contained in our Annual Report on Form 10-K for our 2007 fiscal year.
Except for the stock options awarded to Messrs. Mahoney and Doody in 2006 and 2007, each of the options vests
ratably on an annual basis over a four-year period, provided that the option recipient continues to be employed
by us on such dates. The stock options awarded to Messrs. Mahoney and Doody will fully vest prior to their
scheduled vesting date upon their retirement or resignation under our rule of 65, should they leave Staples before
the end of the applicable vesting period.
(3) The amounts shown in the Stock Awards and Option Awards columns for 2007 represent the accounting expense
that we recognized under FASB Statement No. 123(R) during our 2007 fiscal year for awards from our 2007 fiscal
year and prior years, not the actual amounts paid to or realized by the named executive officers during our 2007
fiscal year. The FASB 123(R) amount as of the grant date for stock awards and stock options generally is spread
over the number of months of service required for the grant to vest. The amount disclosed disregards estimates of
forfeitures of awards that are otherwise included in our financial statement reporting for such awards.
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