Big Lots 2014 Annual Report Download - page 29

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- 17 -
• Performance Share Unit Awards. For the first time, all of our named executive officers received
a significant portion (60%) of their equity awards in the form of performance share unit awards
(“PSUs”). The PSUs awarded to our named executive officers in fiscal 2014 will vest, if at all, after
the completion of a three-year performance period based: (1) 50% on our average EPS performance,
excluding extraordinary items, for each of the three years during the performance period; (2) 50% on
our average ROIC performance, excluding extraordinary items, for each of the three years during the
performance period; and (3) on the named executive officer’s continued employment through the end of
the performance period (except in the case of death, disability or retirement). The Committee and other
outside directors selected EPS and ROIC as the financial measures applicable to the PSUs to incentivize
our named executive officers to achieve long-term financial results that we believe will create
shareholder value. Based on EPS of $2.44 and ROIC of 14.9%, we achieved 99% of the targeted goal for
EPS and 104% of the targeted goal for ROIC for the first year of the 2014 PSU three-year performance
measurement period. This performance would equate to a 105% vesting factor, based on performance in
the first year of the three-year performance period.
• Time-Vested Restricted Stock Unit Awards. The remaining portion (40%) of our name executive officers’
equity awards took the form of time-vested restricted stock unit awards (“RSUs”). RSUs are primarily
intended to align the interests of our named executive officers and our shareholders and help retain and
motivate our named executive officers. The RSUs will vest ratably over three years from the grant date
of the award if the participant remains employed by us through each annual vesting date (except in the
case of death, disability, retirement, involuntary termination or constructive termination).
The following graphs show the percentage of Mr. Campisi’s and our other named executive officers’ total target
compensation for fiscal 2014 that was at-risk or variable.
2014 COMPENSATION AWARDED
MR. CAMPISI
57%
Performance-Linked
Incentive Compensation
OTHER NEOS
12%
45% 13%
30%
50%
Performance-Linked
Incentive Compensation
13%
37%
25%
25%
Salary and Other Compensation
Restricted Stock Units Award
Annual Bonus Incentive Award
Performance Share Units Award