Big Lots 2007 Annual Report Download - page 24

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During fiscal 2007, each of the outside directors received an option to acquire 10,000 of our common shares
pursuant to the Director Stock Option Plan. These stock options automatically terminate 10 years and one month
following the grant date and become exercisable over three years beginning upon the first anniversary of the
grant date – 20% of the common shares on the first anniversary, 60% on the second anniversary, and 100% on the
third anniversary.
If Proposal Two is approved by our shareholders, the common shares remaining available for issuance under the
Director Stock Option Plan will not be used and future equity awards to outside directors will be made under the
2005 Incentive Plan.
Director Compensation Table
The following table summarizes the compensation earned by each outside director for his or her Board service in
fiscal 2007.
Name
(a)
Fees Earned
or
Paid in Cash
($)
(b)
Stock
Awards
($)
(c)
Option
Awards
($)(1)(2)
(d)
Non-Equity
Incentive Plan
Compensation
($)
(e)
Change in
Pension
Value and
Nonqualified
Deferred
Compensation
Earnings
($)
(f)
All
Other
Compensation
($)(3)
(g)
Tot al
($)
(h)
Mr. Berger 55,000 —38,215 — — 10,000 103,215
Mr. Berman 55,500 —54,399 — — — 109,899
Mr. Kollat 62,000 —54,399 — — — 116,399
Ms. Lauderback 55,000 —54,399 — — 10,000 119,399
Mr. Mallott 67,500 —54,399 — — 10,000 131,899
Mr. Solt 67,000 —54,399 — — 10,000 131,399
Mr. Tener 61,500 —54,399 — — — 115,899
Mr. Tishkoff 65,500 —54,399 — — 10,000 129,899
(1) Amounts in this column reflect the dollar amount recognized for financial statement reporting purposes
for fiscal 2007 in accordance with Financial Accounting Standards Board Statement No. 123(R) (“FAS
123R”), disregarding any estimate of forfeitures related to service-based vesting conditions, and thus may
include amounts from awards granted in and prior to fiscal 2007. The full grant date fair value of the fiscal
2007 stock option award made to each nominee for director, computed in accordance with FAS 123R,
was $120,800. See Note 7 (Share-Based Plans) to the consolidated financial statements and the Critical
Accounting Policies and Estimates – Share-Based Compensation section of Management’s Discussion and
Analysis of Financial Condition and Results of Operations (“MD&A”) in our Annual Report on Form 10-K
for fiscal 2007 (“Form 10-K”) regarding the assumptions underlying the valuation of equity awards.
(2) As of February 2, 2008, each director held stock options to purchase the following number of common shares:
Mr. Berger: 20,000; Mr. Berman: 27,000; Mr. Kollat: 80,000; Ms. Lauderback: 65,000; Mr. Mallott: 49,500;
Mr. Solt: 36,000; Mr. Tener: 30,000; and Mr. Tishkoff: 65,000.
(3) Amounts in this column reflect payments made by us during fiscal 2007 to charitable organizations
nominated by the specified directors pursuant to the Big Lots, Inc. Non-Employee Director Compensation
Package.