Best Buy 2010 Annual Report Download - page 32

Download and view the complete annual report

Please find page 32 of the 2010 Best Buy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 72

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72

Compensation for Named Executive Officers
Elements of Compensation. The fiscal 2010 compensation for our named executive officers included the following
elements:
Element Form(s) of Compensation Purpose Performance Metric(s)
Base Salary Cash Provide competitive, fixed Not performance-based
compensation to attract and
retain exceptional executive
talent
Short-Term Cash Create a strong financial Operating income;
Incentive incentive for achieving or SG&A; domestic market
exceeding company goals share
Long-Term Incentive Stock options Create a strong financial Best Buy common stock
incentive for increasing price
shareholder value and
encourage a significant equity
stake in our company
Individual Restricted stock Recognize superior performance Performance- and not
Recognition rendered and retain exceptional performance-based
Restricted Stock executive talent
Award
Health, Retirement Eligibility to participate in benefit Plans are part of our broad- Not performance-based
and Other plans generally available to our based employee benefits
Benefits employees, including retirement, program
stock purchase, health,
severance, life insurance and
disability plans
Executive Benefits Annual executive physical exam, Provide competitive benefits to Not performance-based
and Perquisites supplemental long-term disability promote the health, well-being
insurance, four weeks of paid and financial security of our
vacation, expanded employee executive officers
discount, stock ownership target
planning and tax planning/
preparation services
During fiscal 2010, special circumstances or events arose which resulted in unique compensation arrangements. Those
arrangements for the named executive officers are described in Special Circumstances, on page 40.
Analysis of Compensation Elements
Fiscal 2010 Target Compensation. The Compensation Committee does not establish a set pay mix for our executive
officers. However, our executive compensation program does emphasize long-term compensation versus short-term
compensation. As a result of the decisions the Compensation Committee made, the target pay mix for our CEO and
32