Staples 2014 Annual Report Download - page 61

EXECUTIVE COMPENSATION AND COMPENSATION DISCUSSION AND ANALYSIS
www.staplesannualmeeting.com STAPLES 57
Option Awards Stock Awards
Name
Grant Date/
Performance
Share Period
Number of
Securities
Underlying
Unexercised
Options (#)
Exercisable
Number of
Securities
Underlying
Unexercised
Options (#)
Unexercisable
(1)
Option
Exercise
Price
($)
Option
Expiration
Date
(2)
Number of
Shares or
Units of
Stock That
Have Not
Vested
(#) (3)
Market
Value of
Shares
or Units
of Stock
That Have
Not Vested
($) (4)
Equity
Incentive
Plan Awards:
Number of
Unearned
Shares, Units
or Other
Rights That
Have Not
Vested
(#) (5)
Equity
Incentive
Plan Awards:
Market or
Payout Value
of Unearned
Shares, Units
or Other
Rights That
Have Not
Vested
($) (4)
Demos Parneros 2/2/2014-1/31/2015 (6) 161,874 $2,759,952
2/3/2013-2/1/2014 (7) 164,701 $2,808,152
7/2/2012 108,657 108,657 13.03 7/2/2022 24,970 $425,739
7/1/2011 173,061 57,688 15.93 7/1/2021
7/1/2010 172,614 19.27 7/1/2020
1/31/2010 - 2/2/2013 (8) 10,090 $172,035
7/1/2009 173,642 20.12 7/1/2019
7/1/2008 161,478 24.30 7/1/2018
7/2/2007 149,104 24.42 7/2/2017
7/3/2006 14,843 24.50 7/3/2016
7/3/2006 115,325 24.50 7/3/2016
6/30/2005 75,000 21.29 6/30/2015
(1) Stock options vest 25% per year after the date of grant. The exercisability of the options is accelerated in the circumstances
described under the caption “Accelerated Vesting of Awards” following the “Grants of Plan-Based Awards for 2014 Fiscal
Year” table above.
(2) The expiration date for stock options is typically the tenth anniversary of the date of grant.
(3) Unless otherwise indicated, restricted stock vests 50% on the second anniversary of the date of grant and 50% on the
third anniversary of the date of grant. The vesting of restricted stock awards is accelerated in the circumstances described
under the caption “Accelerated Vesting of Awards” following the “Grants of Plan-Based Awards for 2014 Fiscal Year” table
above.
(4) Based on the fair market value of our common stock on January 31, 2015 ($17.05 per share).
(5) The shares in the Equity Incentive Plan Awards column represent performance share awards based on target share payout.
(6) Performance share awards vest based on achievement of performance objectives over the performance period covering
fiscal years 2014 through 2016. For our three-year performance share awards, one-third of the three-year target award is
applied as a target amount for each of the fiscal years within the performance period. Actual shares earned are based on
achievement of goals established for each year. In addition, any award that is earned based on performance will be increased
or decreased by 25% based on Staples’ three-year TSR relative to the returns generated by the S&P 500 over the same
period. See the “CD&A” section of our proxy statement for information about 2014 goal achievement.
(7) Performance shares awards vest based on achievement of performance objectives over the performance period covering
fiscal years 2013 through 2015. For our three-year performance share awards, one-third of the target award is applied as a
target amount for each of the fiscal years within the performance period. Actual shares earned are based on achievement of
goals established for each year. In addition, any award that is earned based on performance will be increased or decreased
by 25% based on Staples’ three-year TSR relative to the returns generated by the S&P 500 over the same period. See the
“CD&A” section of this proxy statement for information about 2014 and 2013 goal achievement.
(8) Performance shares were paid out in March 2013 based on achievement of the performance objectives for fiscal years 2010
through 2012. Awarded shares vested 33% immediately, an additional 33% vested in March 2014 and the remaining 34%
vested in March 2015.