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6 STAPLES Notice of Annual Meeting of Stockholders
i TABLE OF CONTENTS
page
CORPORATE GOVERNANCE 8
Highlights 8
Director Independence 9
Certain Relationships and Related Party Transactions 9
Board Leadership Structure 10
Meetings and Committees of Our Board 12
Risk Oversight by the Board of Directors 16
Diversity 17
Director Candidates 17
Communicating with Our Board 18
ELECTION OF DIRECTORS (ITEM 1 ON THE
PROXY CARD) 19
Director Biographies 20
DIRECTOR COMPENSATION 26
2014 Compensation 26
2015 Changes 26
Outstanding Director Awards 28
APPROVE AN AMENDMENT TO THE 2012 EMPLOYEE
STOCK PURCHASE PLAN (ITEM 2 ON THE
PROXY CARD) 29
Introduction 29
Description of the Amended 2012 ESPP 29
2012 ESPP Benefits 32
EXECUTIVE COMPENSATION AND COMPENSATION
DISCUSSION AND ANALYSIS 34
CD&A Highlights 34
Executive Summary 34
2014 Compensation Program 41
Plan Design & Compensation Process 46
Other Matters 49
Compensation Committee Report 50
Executive Compensation Tables 51
Equity Compensation Plan Information at 2014 Fiscal Year End 63
Compensation Committee Interlocks and Insider Participation 64
Section 16(a) Beneficial Ownership Reporting Compliance 64
APPROVAL, ON AN ADVISORY BASIS, OF NAMED
EXECUTIVE OFFICER COMPENSATION (ITEM 3 ON
THE PROXY CARD) 65
page
RATIFICATION OF SELECTION OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM (ITEM 4 ON
THE PROXY CARD) 66
Report of the Audit Committee of the Board of Directors 66
Independent Registered Public Accounting Firm’s Fees 67
SHAREHOLDER PROPOSALS 68
Shareholder Proposal Regarding Senior Executive
Severance Agreements (Item 5 on the Proxy Card) 68
Shareholder Proposal Regarding Independent Board
Chairman (Item 6 on the Proxy Card) 70
BENEFICIAL OWNERSHIP OF COMMON STOCK 72
INFORMATION ABOUT THE ANNUAL MEETING,
VOTING AND OTHER SHAREHOLDERS MATTERS 74
APPENDIX A 78
2012 Employee Stock Purchase Plan 78