Big Lots 2011 Annual Report Download - page 40
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our long-term financial health. Additionally, the at-risk incentive compensation that we award in the form of equity
is significantly impacted by the price of our common shares. As highlighted in the chart below, we have continued
to grow our earnings per share, while rewarding our shareholders though the appreciation in the market price of our
common shares. While our operating profit has generally increased in recent years, we experienced a slight decline
in fiscal 2011 due to an operating loss attributable to our Canadian operations; consequently, Mr. Fishman’s total
compensation decreased in fiscal 2011. We believe we align the interests of our named executive officers with those
of our shareholders by linking the compensation of our named executive officers with our performance through
at-risk incentive compensation.
Company Performance and CEO Total Compensation in Fiscal 2009 - 2011
Stock Price at Fiscal Year End
CEO Total Compensation
Earnings Per Common Share - Diluted from Continuing Operations
Operating Profit (in thousand)
$2.44
$13.45
$28.41
$31.82
$40.00
$325,010
$9,786,526
$13,394,075
$11,924,662
$357,345$2.83 $2.99(1) $345,595(2)
Fiscal 2009
Jan. 31, 2009
Jan. 30, 2010
Jan. 29, 2011
Jan. 28, 2012
Fiscal 2010 Fiscal 2011
(1) Includes the impact of a loss of $0.19 per common share - diluted from continuing operations from our
Canadian segment in fiscal 2011.
(2) Includes the impact of a $12,219 operating loss from our Canadian segment in fiscal 2011.
Committee Consideration of the Company’s 2011 Shareholder Vote on Executive Compensation
At our 2011 Annual Meeting of Shareholders, we held our first shareholder advisory vote on the compensation
of our named executive officers, as disclosed in our 2011 Proxy Statement (the “2011 say-on-pay vote”), as well
as our first shareholder vote on the frequency of future say-on-pay votes. While the Committee was pleased that
our shareholders approved the compensation of our named executive officers through the 2011 say-on-pay vote,
the Committee’s goal is to receive even broader support for the compensation of our named executive officers, as
disclosed in this Proxy Statement. We did not modify any component of our executive compensation program for
fiscal 2011 in response to the 2011 say-on-pay vote, as the vote occurred after the date the Committee established
executive compensation for fiscal 2011.