Big Lots 2008 Annual Report Download - page 50

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Grants of Plan-Based Awards in Fiscal 2008
The following table sets forth each award made to the named executive officers in fiscal 2008 under the 2006
Bonus Plan and the 2005 Incentive Plan.
Name
(a)
Grant
Date
(1)
(b)
Award
Date
(2)
-
Estimated Possible Payouts
Under Non-Equity Incentive
Plan Awards
(3)
Estimated Future Payouts
Under Equity Incentive Plan
Awards
(4)
All
Other
Stock
Awards:
Number
of
Shares of
Stock or
Units
(#)
(i)
All Other
Option
Awards:
Number of
Securities
Underlying
Options
(#)(5)
(j)
Exercise
or Base
Price of
Option
Awards
($/Sh.) (6)
(k)
Grant
Date Fair
Value
of Stock
and
Option
Awards
($)
(l)
Threshold
($)
(c)
Target
($)
(d)
Maximum
($)
(e)
Threshold
(#)
(f)
Target
(#)
(g)
Maximum
(#)
(h)
Mr. Fishman — — 600,000 1,200,000 2,400,000 — — — — — — —
3/7/08 3/5/08 — — — — 165,000 — — — — 3,474,900
3/7/08 3/5/08 — — — — — — — 330,000 21.06 2,828,100
Mr. Cooper — — 132,000 264,000 528,000 — — — — — — —
3/7/08 3/5/08 — — — — 16,250 — — — — 342,225
3/7/08 3/5/08 — — — — — — — 48,750 21.06 417,788
Mr. Waite — — 206,250 412,500 825,000 — — — — — — —
3/7/08 3/5/08 — — — — 12,500 — — — — 263,250
3/7/08 3/5/08 — — — — — — — 37,500 21.06 321,375
Mr. Martin — — 156,000 312,000 624,000 — — — — — — —
3/7/08 3/5/08 — — — — 12,500 — — — — 263,250
3/7/08 3/5/08 — — — — — — — 37,500 21.06 321,375
Mrs. Bachmann — — 132,000 264,000 528,000 — — — — — — —
3/7/08 3/5/08 — — — — 16,250 — — — — 342,225
3/7/08 3/5/08 — — — — — — — 48,750 21.06 417,788
(1) As discussed in the “Our Executive Compensation Program for Fiscal 2008 – Equity Grant Timing” section
of the CD&A, in fiscal 2008, the Board set as the grant date of these equity awards the second day following
our release of results from our last completed fiscal year. This future date was established to allow the market
to absorb and react to our release of material non-public information, and to avoid any suggestion that the
Board, the Compensation Committee or any employee manipulated the terms of the equity awards.
(2) The Award Date represents the date on which the Board authorized the equity-based award and set the
grant date.
(3) The amounts in columns (c), (d) and (e) represent the named executive officers’ floor, target and stretch bonus
levels, respectively, for fiscal 2008 pursuant to the 2006 Bonus Plan which bonus levels are further described
in the “Our Executive Compensation Program for Fiscal 2008 – Bonus for Fiscal 2008” section of the CD&A.
For fiscal 2008, the named executive officers earned the amounts shown in column (g) of the Summary
Compensation Table.
(4) The amounts in column (g) represent restricted stock awarded pursuant to the 2005 Incentive Plan, which
awards are described in the narrative preceding this table and the “Our Executive Compensation Program
for Fiscal 2008 – Equity for Fiscal 2008” section of the CD&A. Because we met the first trigger (but not the
second trigger) as a result of fiscal 2008 corporate performance, the restricted stock granted to the named
executive officers in fiscal 2008 has not vested. The restricted stock granted in fiscal 2008 is expected to vest
upon the earliest of: (i) the first trading day after we file with the SEC our Annual Report on Form 10-K for the
year in which the second trigger is met; (ii) the opening of our first trading window that is five years after the
grant date; or (iii) the death or disability of the named executive officer (in which case 20% of the award will
vest for each consecutive year of employment completed from the grant date to the date of death or disability).
There are no thresholds or maximums applicable to the restricted stock awards included in column (g).