Starwood 2009 Annual Report Download - page 45

V. GRANTS OF PLAN-BASED AWARDS
The table below sets forth a summary of the grants of plan-based incentive awards to the Named Executive
Officers made during 2009:
Name
(listed alphabetically
by name following the
Chief Executive
Officer) (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) (3)
Grant Date
Fair Value
of Stock
and Option
Awards
($) (4) (j)
Estimated Future Payouts Under
Non-Equity Incentive Plan Awards(1)
van Paasschen . . . . . 2/27/2009 2/09/2009 1,097,936 11.39 5,151,077
3/02/2009 (5) 56,715(5) 605,149
2009 0 2,000,000 9,000,000(7)
Avril . . . . . . . . . . . 2/27/2009 2/09/2009 329,381 11.39 1,545,324
3/02/2009 (5) 16,718(5) 178,381
2009 145,000 725,000 1,993,750
Prabhu . . . . . . . . . 2/27/2009 2/09/2009 274,484 11.39 1,287,769
2/27/2009 2/09/2009 109,794(6) 1,250,005
3/02/2009 (5) 18,168(5) 193,853
2009 128,132 640,658 1,761,810
Siegel . . . . . . . . . . 2/27/2009 2/09/2009 417,216 11.39 1,957,411
3/02/2009 (5) 17,441(5) 186,095
2009 123,008 615,039 1,691,357
Turner. . . . . . . . . . 2/27/2009 2/09/2009 548,968 11.39 2,575,538
3/02/2009 (5) 12,984(5) 138,539
2009 125,000 625,000 1,718,750
(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 VI. below.
(2) The options generally vest in equal installments on the first, second, third and fourth anniversary of their grant.
(3) The exercise price was determined by using the average of the high and low price of Shares on the grant date.
(4) 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 ASC 718 using the average
of the high and low price of Shares on the grant date. For stock options, fair value is calculated in accordance
with ASC 718 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, 2009. There
can be no assurance that these amounts will correspond to the actual value that will be recognized by the Named
Executive Officers. The amount recorded on the summary compensation table related to this benefit only
includes the 33% increase in Shares as the deferral of the bonus amount is disclosed separately.
(5) On March 2, 2009, in accordance with the Executive Plan, 25% of Messrs. van Paasschen, Avril, Prabhu, Siegel
and Turner’s annual bonus with respect to 2008 performance was credited to a deferred stock unit account on
the Company’s balance sheet, and the 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. No separate
Compensation Committee approval was required for award of these deferred stock units, which are provided by
plan terms.
(6) This award vests on the third anniversary of the grant date.
(7) Represents the maximum amount payable to any participant under the terms of the Executive Plan.
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