Best Buy 2010 Annual Report Download - page 51

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any, scheduled to vest by March 3, 2012. The maximum value of the performance-based award, assuming the highest level of performance
conditions is as follows:
Probable Grant Date Maximum Grant Date
Fair Value of Fair Value of
Performance-Based Target Grant Maximum Grant Performance-Based
Name Award in Shares in Shares Award
Brian J. Dunn $0 190,000 475,000 $19,565,250
James L. Muehlbauer 0 100,000 250,000 10,297,500
Shari L. Ballard 0 82,750 206,875 8,521,181
Michael A. Vitelli 0 50,000 125,000 5,148,750
John E. Pershing(a) 0 50,000 125,000 5,148,750
Robert A. Willett 0 190,000 475,000 19,565,250
(a) Mr. Pershing forfeited this award when he terminated employment with us on February 5, 2010.
Targets for this award, which require material enterprise growth, were previously disclosed on Form 8-K filed with the SEC on August 8, 2008.
(9) Mr. Wheway joined Best Buy in May 2009. His compensation has been converted to United States dollars from pound sterling using a conversion
rate of 1.6168, the average rate from May 2009 through the end of the fiscal year.
(10) This amount reflects Mr. Wheway’s payment of 80% of his expected total fiscal 2010 short-term incentive payout as described in Special
Circumstances beginning on page 40.
(11) Mr. Anderson is included as a named executive officer because he served as our Chief Executive Officer through June 24, 2009.
(12) Mr. Pershing terminated his employment on February 5, 2010. Mr. Pershing is included as a named executive officer because of the lump sum
separation package he received upon his departure, as described in Special Circumstances beginning on page 40.
(13) Mr. Willett’s last day with the Company was January 4, 2010. Mr. Willett is included as a named executive officer because of the compensation he
earned through the date of his retirement.
(14) This amount reflects a time-based restricted stock award ($930,000) scheduled to vest three years after the grant date, on May 1, 2012, and a
performance-based restricted stock award ($1,395,000) earned based on the level of enterprise operating income in fiscal 2010. The earned portion
of the performance-based award was scheduled to vest on February 26, 2011. The maximum value of the performance-based award, assuming the
highest level of performance conditions, was $1,860,000. Mr. Willett forfeited both awards when he terminated employment with us on January 4,
2010.
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