Staples 2007 Annual Report Download - page 63

OPTION EXERCISES AND STOCK VESTED DURING 2007 FISCAL YEAR
The following table summarizes the option exercises and vesting of stock awards for each of the named executive
officers during our 2007 fiscal year.
Option Awards Stock Awards
Number of Number of
Shares Acquired Value Realized Shares Acquired Value Realized
Name of Executive Officer on Exercise (#) Upon Exercise ($) (1) Upon Vesting (#) on Vesting ($) (2)
Ronald L. Sargent ................... 1,266,875 13,177,402 150,000 3,775,500
John J. Mahoney .................... 877,500 10,232,264 99,289 2,401,194
Michael A. Miles, Jr. ................. 0 0 75,000 1,887,750
Joseph G. Doody .................... 75,000 384,990 37,500 943,875
Demos Parneros ..................... 74,250 1,422,519 37,500 943,875
(1) Represents the difference between the exercise price and the fair market value of our common stock on the date
of exercise.
(2) Represents the fair market value of the stock award on the date of vesting.
NONQUALIFIED DEFERRED COMPENSATION FOR 2007 FISCAL YEAR
The following table sets forth summary information with respect to each of the named executive officers
regarding contributions to our Supplemental Executive Retirement Plan (SERP) for our 2007 fiscal year.
Executive Company Aggregate Aggregate Aggregate
Contributions Contributions Earnings in Withdrawals/ Balance at
Name in Last FY ($) in Last FY ($)* Last FY ($) Distributions ($) Last FYE ($)
Ronald L. Sargent ..... 351,881 105,143 105,442 0 2,800,230
John J. Mahoney ...... 98,085 48,965 29,536 0 1,007,773
Michael A. Miles, Jr. . . . 49,042 48,964 12,923 0 305,930
Joseph Doody ........ 484,299 38,683 (37,366) 0 3,165,986
Demos Parneros ....... 41,365 33,017 22,704 0 434,265
* These contribution amounts are included in the All Other Compensation column of the Summary
Compensation Table included in this proxy statement.
Our SERP is a non-qualified deferred compensation plan which is generally intended to provide comparable
benefits above the applicable limits of our 401(k) qualified plan. Our SERP provides similar investments to our 401(k)
plan which consist of 11 investment options as well as 3 asset allocation portfolios. Eligible executives, including the
named executive officers, may contribute up to 100% of their base salary and bonus and will receive matching
contributions in cash equal to 100% of each dollar saved, up to a maximum of 4% of base salary and bonus. The
matching contributions are credited at an interest rate established at the beginning of each year, which is based upon
the declared crediting rate on life insurance policies designated by the plan administrator to fund the plan. For 2007,
the annual interest rate was 5.32%. The matching contributions generally vest 20% per year during the first five years
of service based on hours worked during a calendar year. After five years of service, participants are fully vested in all
matching contributions. All of the named executive officers other than Mr. Miles have been employed by us for more
than five years and are therefore fully vested in their SERP balances. Benefits generally are paid to the participant in
accordance with the plan provisions and any predefined distribution schedule based on the requirements of
Section 409A of the Internal Revenue Code.
Potential Payments Upon Termination or Change-in-Control
The tables below show the estimated incremental value transfer to each named executive officer under various
scenarios relating to a termination of employment. The tables below and the discussion that follows assume that such
termination occurred on February 1, 2008. The actual amounts that would be paid to any named executive officer can
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