Big Lots 2010 Annual Report Download - page 55

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anniversary of the grant date at the rate of 20% per year over the first five years of the 10 year option term.
Stock option awards made under the 2005 Incentive Plan vest on the anniversary of the grant date at a rate of
25% per year over the first four years of the seven year option term.
(2) The restricted stock awards reported in column (i) were made in fiscal 2010 pursuant to the 2005 Incentive
Plan. Mr. Fishman’s fiscal 2010 restricted stock award vests if we achieve a corporate financial goal
established at the beginning of fiscal 2010 and Mr. Fishman remains employed by us on the anniversary of the
grant date of the award. Mr. Fishman’s fiscal 2010 restricted stock award vested as we achieved the corporate
performance goal and Mr. Fishman was employed by us on the anniversary of the grant date. For Mr. Cooper,
Ms. Bachmann, Mr. Martin and Mr. Haubiel, the first trigger for the fiscal 2010 awards is $1.50 and the
second trigger for the fiscal 2010 restricted stock awards is $2.94. Based on our performance in fiscal 2010,
we achieved the first trigger but not the second trigger applicable to the fiscal 2010 restricted stock awards.
For additional information regarding the fiscal 2010 restricted stock awards, including the vesting terms,
see the narrative preceding the Grants of Plan-Based Awards in Fiscal 2010 table and the “Our Executive
Compensation Program for Fiscal 2010 – Equity for Fiscal 2010” section of the CD&A.
Option Exercises and Stock Vested in Fiscal 2010
The following table reflects all stock option exercises and the vesting of restricted stock held by each of our named
executive officers during fiscal 2010.
Option Awards Stock Awards
Name
Number of
Shares
Acquired
on Exercise
(#)
Value
Realized
on Exercise
($)
Number of
Shares
Acquired
on Vesting
(#)
Value
Realized
on Vesting
($)
(a) (b) (c) (d) (e)
Mr. Fishman 791,998 14,563,389 365,000 13,432,000
Mr. Cooper 46,812 791,180 36,250 1,334,000
Ms. Bachmann 20,000 392,659 36,250 1,334,000
Mr. Martin 76,000 1,161,807 27,500 1,012,000
Mr. Haubiel 99,125 1,970,191 27,500 1,012,000
Nonqualified Deferred Compensation
Supplemental Savings Plan
All of our named executive officers, as well as substantially all other full-time employees, are eligible to participate
in the Savings Plan, our “401(k) plan.” The Supplemental Savings Plan is maintained for those executives
participating in the Savings Plan who desire to contribute more than the amount allowable under the Savings
Plan. The Supplemental Savings Plan constitutes a contract to pay deferred compensation and limits deferrals in
accordance with prevailing tax law. The Supplemental Savings Plan is designed to pay the deferred compensation
in the same amount as if contributions had been made to the Savings Plan. We have no obligation to fund the
Supplemental Savings Plan, and all assets and amounts payable under the Supplemental Savings Plan are subject to
the claims of our general creditors.
In order to participate in the Savings and Supplemental Savings Plans, an eligible employee must satisfy applicable
age and service requirements and must make contributions to such plans (“Participant Contributions”). Participant
Contributions are made through authorized payroll deductions to one or more of the several investment funds
available under the Savings and Supplemental Savings Plans and selected at the discretion of the participant.
All Participant Contributions are matched by us (“Registrant Contributions”) at a rate of 100% for the first 2%
of salary contributed and 50% for the next 4% of salary contributed. Additionally, the amount of the Registrant
Contribution is subject to the maximum annual compensation that may be taken into account for benefit calculation
purposes under the IRC ($245,000 for calendar year 2010). Accordingly, the maximum aggregate Registrant
Contribution that could be made to a named executive officer participating in the Savings and Supplemental
Savings Plans was $9,800 for fiscal 2010.