Big Lots 2009 Annual Report Download - page 51

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Grants of Plan-Based Awards in Fiscal 2009
The following table sets forth each award made to the named executive officers in fiscal 2009 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
($/Sh.)(6)
(k)
Closing
Market
Price of
Option
Awards
on Grant
Date
($/Sh.)
-
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 — — — — — — — —
3/6/09 3/4/09 — — — — 200,000 — — — — — 3,494,000
3/6/09 3/4/09 — — — — — — — 330,000 17.47 17.51 2,583,900
Mr. Cooper — — 132,000 264,000 528,000 — — — — — — — —
3/6/09 3/4/09 — — — — 20,000 — — — — — 349,400
3/6/09 3/4/09 — — — — — — — 48,750 17.47 17.51 381,713
Mr. Waite — — 206,250 412,500 825,000 — — — — — — — —
3/6/09 3/4/09 — — — — 15,000 — — — — — 262,050
3/6/09 3/4/09 — — — — — — — 37,500 17.47 17.51 293,625
Mr. Martin — — 156,000 312,000 624,000 — — — — — — — —
3/6/09 3/4/09 — — — — 15,000 — — — — — 262,050
3/6/09 3/4/09 — — — — — — — 37,500 17.47 17.51 293,625
Ms. Bachmann — — 132,000 264,000 528,000 — — — — — — — —
3/6/09 3/4/09 — — — — 20,000 — — — — — 349,400
3/6/09 3/4/09 — — — — — — — 48,750 17.47 17.51 381,713
(1) As discussed in the “Our Executive Compensation Program for Fiscal 2009 – Equity Grant Timing” section
of the CD&A, in fiscal 2009, 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 2009 pursuant to the 2006 Bonus Plan, which bonus levels are further described
in the “Our Executive Compensation Program for Fiscal 2009 – Bonus for Fiscal 2009” section of the CD&A.
For fiscal 2009, 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 2009
– Equity for Fiscal 2009” section of the CD&A. Because we met the first trigger and second trigger as a result
of fiscal 2009 corporate performance, the restricted stock granted to the named executive officers in fiscal 2009
vested on the first trading day after we filed with the SEC our Form 10-K. There are no threshold or maximum
“estimated future payouts” applicable to the restricted stock awards included in column (g).
(5) The amounts in column (j) represent NQSOs 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 2009
– Equity for Fiscal 2009” section of the CD&A.
(6) Pursuant to the terms of the 2005 Incentive Plan, the exercise price of the fiscal 2009 NQSOs is equal to an
average trading price of our common shares on the grant date. We believe this method is preferable to using
the closing market price, as it is less vulnerable to market activity that may have only an instantaneous effect,
positively or negatively, on the price of our common shares.