Best Buy 2010 Annual Report Download - page 56

Download and view the complete annual report

Please find page 56 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

(7) Mr. Pershing exercised options to purchase 5,000 shares on November 16, 2009, at an exercise price of $26.88 and a market price of
$42.82 and 5,000 shares on January 21, 2010, at an exercise price of $26.88 and a market price of $38.75.
(8) Performance-based restricted stock award granted on October 23, 2006, that vested on February 27, 2010. The number of shares awarded
(1,046 shares) was determined by the level of TSR achieved by our common stock compared to the TSR of companies that comprise the
S&P 500 during a three-year incentive period. Pursuant to the terms of his separation agreement, Mr. Pershing remained eligible for this award
after his termination.
(9) The number reported reflects time-based restricted shares granted on April 26, 2007, which vested 100% on January 4, 2010, upon
Mr. Willett’s retirement.
Non-Qualified Deferred Compensation
The following table shows the account balances at February 27, 2010, and the contributions and earnings during fiscal 2010, for
our named executive officers under our Deferred Compensation Plan, an unfunded plan. The Deferred Compensation Plan allows
highly compensated employees, including the named executive officers, and directors to defer:
• Up to 75% of base salary; and
• Up to 100% of a cash bonus (earned and paid in the same year), short-term incentive compensation (earned and paid in
different years) and director fees, as applicable.
Aggregate
Executive Registrant Earnings Aggregate Aggregate
Contributions Contributions (Losses) Withdrawals/ Balance at
Name in Fiscal 2010(1) in Fiscal 2010 in Fiscal 2010 Contributions February 27, 2010
Brian J. Dunn $ — $ — $ — $ — $ —
James L. Muehlbauer — — 295,075 — 845,875
Shari L. Ballard 113,750 — 166,844 — 692,932
Michael A. Vitelli — — — — —
J. Scott Wheway — — — — —
Bradbury H. Anderson — — 1,009,428 — 3,670,031
John E. Pershing — — 6,626 (21,067) 0
Robert A. Willett — — — — —
(1) These amounts were also reported as either ‘‘Base Salary’’ or ‘‘Non-Equity Incentive Plan Compensation’’ in the Summary Compensation Table
on page 49.
Investments. Amounts deferred under and contributed to the Deferred Compensation Plan are credited or charged with the
performance of investment options selected by the participants. The investment options are notional and do not represent actual
56