Big Lots 2011 Annual Report Download - page 65
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(3) The amounts in columns (c), (d) and (e) represent our named executive officers’ floor, target and stretch bonus
levels, respectively, for fiscal 2011 pursuant to the 2006 Bonus Plan, which bonus levels are further described
in the “Our Executive Compensation Program for Fiscal 2011 – Bonus for Fiscal 2011” section of the CD&A.
For fiscal 2011, our named executive officers did not earn a bonus under the 2006 Bonus Plan, as reflected in
column (g) of the Summary Compensation Table.
(4) The amounts in column (g) represent restricted stock awarded pursuant to the 2005 LTIP, which awards are
described in the narrative preceding this table and the “Our Executive Compensation Program for Fiscal 2011
– Equity for Fiscal 2011” section of the CD&A. Because we achieved the fiscal 2011 corporate performance
goal previously established for Mr. Fishman’s fiscal 2011 restricted stock award and he remained employed
beyond the first anniversary of the award, Mr. Fishman’s restricted stock vested on March 27, 2012, the first
trading day after we filed with the SEC our Form 10-K for fiscal 2011. Because we met the first trigger,
but not the second trigger, as a result of fiscal 2011 corporate performance, the restricted stock granted to
our named executive officers in fiscal 2011 (other than Mr. Fishman) did not vest. 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 LTIP, which awards are described
in the narrative preceding this table and the “Our Executive Compensation Program for Fiscal 2011 – Equity
for Fiscal 2011” section of the CD&A.
(6) Pursuant to the terms of the 2005 LTIP, the exercise price of the NQSOs awarded in fiscal 2011 is equal to the
average trading price of our common shares on the grant date (which exceeded the closing market 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.