Big Lots 2008 Annual Report Download - page 46

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Summary Compensation Table
The following table sets forth the compensation earned by or paid to the named executive officers (Mr. Fishman,
our CEO; Mr. Cooper, our Chief Financial Officer; and each of our three other most highly compensated executive
officers in fiscal 2008) for each of the last three fiscal years.
Name and
Principal Position (1)
(a)
Year
(b)
Salary
($)
(c)
Bonus
($)
(d)
Stock
Awards
($)(2)
(e)
Option
Awards
($)(3)
(f)
Non-Equity
Incentive Plan
Compensation
($)(4)
(g)
Change in
Pension Value
and Nonqualified
Deferred
Compensation
Earnings
($)(5)
(h)
All Other
Compensation
($)(6)(7)
(i)
Tot a l
($)(8)
(j)
Steven S. Fishman,
Chairman, Chief Executive
Officer and President
2008 1,173,077 — 3,167,764 2,298,844 2,353,560 — 32,625 9,025,870
2007 1,015,000 — 3,371,258 1,537,656 1,810,765 — 24,927 7,759,606
2006 960,000 — 503,769 879,262 1,632,000 — 14,559 3,989,590
Joe R. Cooper,
Senior Vice President
and Chief Financial Officer
2008 433,914 — 314,732 266,359 517,792 — 34,168 1,566,965
2007 396,208 — 367,080 150,348 353,320 — 29,988 1,296,944
2006 371,209 — 96,278 50,675 375,000 — 26,899 920,061
Brad A. Waite,
Executive Vice President, Human
Resources, Loss Prevention
and Risk Management
2008 547,760 — 284,060 251,832 809,050 7,138 35,914 1,935,754
2007 532,747 — 507,061 157,603 708,875 7,705 30,237 1,944,228
2006 516,978 — 225,350 57,473 780,000 16,489 35,018 1,631,308
John C. Martin,
Executive Vice President,
Merchandising
2008 516,974 — 247,696 194,250 611,936 — 33,460 1,604,316
2007 496,181 — 306,590 105,373 530,000 — 27,918 1,466,062
2006 473,475 — 128,977 26,574 570,000 — 25,929 1,224,955
Lisa M. Bachmann,
Senior Vice President,
Merchandise Planning/Allocation
and Chief Information Officer
2008 436,222 — 314,732 270,677 517,792 — 33,143 1,572,566
2007 412,747 — 367,080 150,348 366,570 — 36,384 1,333,129
2006 396,195 — 96,278 50,675 400,000 — 29,901 973,049
(1) We are a party to an employment agreement with each of the named executive officers, the material terms of
which are described in the “Overview of our Executive Compensation Program - Employment Agreements”
section of the CD&A.
(2) The amounts in this column reflect the compensation expense calculated in accordance with FAS 123R
for the respective fiscal years, disregarding any estimate of forfeitures related to service-based vesting
conditions, and may include amounts from stock awards granted in and prior to the fiscal years reported
pursuant to the Big Lots, Inc. 1996 Performance Incentive Plan (“1996 Incentive Plan”) and the 2005
Incentive Plan. The FAS 123R compensation expense reflected in this column is based on the number of
shares of restricted stock granted and the fair value of the restricted stock on the grant date, and the expense
is amortized from the grant date to the estimated vesting date (i.e., the estimated achievement date of the
second trigger in the case of performance-based restricted stock). In applying FAS 123R, the estimated
achievement date is determined at the time the restricted stock is granted based on historical and forecasted
performance of similar measures, and prospective adjustments to the estimated vesting periods are made
when performance factors indicate that the estimated achievement date differs from the date being used to
amortize expense. On the grant date of the unvested restricted stock awarded in fiscal 2008, we estimated
a three-year vesting period for these awards based on the assumed achievement of the second trigger. In the
second quarter of fiscal 2008, we changed the estimated achievement date to two years as a result of our
performance. In the fourth quarter of 2008, we changed the estimated achievement date back to three years
as a result of our performance. On the grant date of the unvested restricted stock awarded in fiscal 2007,
we estimated a three-year vesting period for these awards based on the assumed achievement of the second
trigger. In the second quarter of fiscal 2007, we changed the estimated achievement date to two years as a
result of our performance. The amounts in this column also reflect the acceleration of the FAS 123R expense
for the performance-based restricted stock granted in fiscal 2006, and restricted stock granted prior to fiscal
2006 that fully vested in fiscal 2007.