Starwood 2008 Annual Report Download - page 43

IV. GRANTS OF PLAN-BASED AWARDS
Name
(a)
Grant
Date (or
year with
respect to
non-equity
incentive plan
award) (b)
Compensation
Committee
Approval
date
(c)
Threshold
($) (d)
Target
($) (e)
Maximum
($) (f)
All Other
Stock
Awards:
Number of
Shares of
Stock or
Units
(#) (g)
All Other
Option
Awards:
Number of
Securities
Underlying
Options
(#) (2) (h)
Exercise
or Base
Price of
Option
Awards
($/Sh) (i)
Grant Date
Fair Value
of Stock
and Option
Awards
($) (3) (j)
Estimated Future Payouts Under
Non-Equity Incentive Plan Awards(1)
van Paasschen . . 2/28/2008 2/14/2008 102,870 48.61 1,742,402
3/03/2008 (4) 3,778(4) 179,021
2008 0 2,000,000 9,000,000(8)
Prabhu . . . . . . 2/28/2008 2/14/2008 78,696 48.61 1,332,945
2/28/2008 2/14/2008 26,232(6) 1,275,006
3/03/2008 (4) 5,153(4) 244,175
2008 160,165 640,658 1,201,234
Siegel. . . . . . . . 2/28/2008 2/14/2008 30,861 48.61 522,721
2/28/2008 2/14/2008 30,861(6) 1,499,999
3/03/2008 (4) 5,474(4) 259,385
2008 153,757 615,029 1,153,198
Avril . . . . . . . . 2/28/2008 2/14/2008 22,220 48.61 376,360
2/28/2008 2/14/2008 22,220(6) 1,080,003
3/03/2008 (5) 3,551(5) 168,264
9/02/2008 8/27/2008 40,344(6) 1,499,990
2008 181,250 725,000 1,359,375
McAveety . . . . . 4/01/2008 2/01/2008 25,319 53.32 487,501
4/01/2008 2/01/2008 25,319(7) 1,350,009
2008 93,750 375,000 703,125
Turner . . . . . . . 5/07/2008 4/29/2008 135,224(7) 53.25 2,497,898
2008 104,167 416,667 781,251(9)
(1) Represents the potential values of the awards granted to the Named Executive Officers under the Executive Plan
if the threshold, target and maximum goals are satisfied for all applicable performance measures. See detailed
discussion of these awards in section V. below.
(2) The options generally vest in equal installments on the first, second, third and fourth anniversary of their grant.
(3) Represents the fair value of the awards disclosed in columns (g) and (h) on their respective grant dates. For
restricted stock and restricted stock units, fair value is calculated in accordance with SFAS 123(R) using the
average of the high and low price of the Company’s stock on the grant date. For stock options, fair value is
calculated in accordance with SFAS 123(R) using a lattice valuation model. For additional information, refer to
Note 21 of the Company’s financial statements filed with the SEC as part of the Form 10-K for the year ended
December 31, 2008. There can be no assurance that these amounts will correspond to the actual value that will
be recognized by the Named Executive Officers.
(4) On March 3, 2008, in accordance with the Executive Plan, 25% of Messrs. van Paasschen, Siegel, and Prabhu’s
annual bonus with respect to 2007 performance was credited to a deferred stock unit account on the Company’s
balance sheet, which number of shares was increased by 33%. These deferred stock units vest in equal
installments on the first, second and third fiscal year-ends following the date of grant, and vested units are
distributed on the earlier of (i) the third fiscal year-end or (ii) a termination of employment. Dividends are paid
to the Named Executive Officers in amounts equal to those paid to holders of shares of Company stock. No
separate Compensation Committee approval was required for these shares, which are provided by plan terms.
(5) On March 3, 2008, in accordance with the Annual Incentive Plan, 25% of Mr. Avril’s annual bonus with respect
to 2007 performance was deferred into restricted stock, which number of shares was increased by 33%. These
restricted shares vest in equal installments on the first and second anniversary of the date of grant. Dividends are
paid to the Named Executive Officers in amounts equal to those paid to holders of shares of Company stock. No
separate Compensation Committee approval was required for these shares, which are provided by plan terms.
(6) These awards generally vest 75% on the third anniversary and 25% on the fourth anniversary of their grant date.
Mr. Avril’s September 2, 2008 award vests 100% on the third anniversary of the grant date.
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