Big Lots 2014 Annual Report Download - page 44

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Committee or any employee manipulated the terms of the equity awards. For equity awards made throughout the
fiscal year, which generally are made as a result of a hiring or promotion, the grant date is the 15th day of the month
following the month of the hire or promotion date. We have no policy of timing the grant date of equity awards
with the release of material non-public information, and we have not timed the release of material non-public
information for the purpose of affecting the value of any equity awards.
Tax and Accounting Considerations
The Committee reviews and considers the impact that tax laws and accounting regulations may have on the
executive compensation awards, including the deductibility of executive compensation under Section 162(m) of the
IRC. In doing so, the Committee relies on guidance from members of our finance and legal departments, as well as
outside accountants and attorneys.
Section 162(m) of the IRC generally limits the tax deductions for compensation expense in excess of $1 million
paid to our CEO and our three other highest compensated executives (excluding the principal financial officer).
Compensation in excess of $1 million may be deducted if it is “qualified performance-based compensation” within
the meaning of Section 162(m). Except as discussed below, we believe that compensation paid under our equity
and bonus compensation plans is fully deductible for federal income tax purposes. However, in certain situations,
the Committee may approve compensation that will not meet these requirements in order to ensure competitive
levels of total compensation for our executives or to otherwise further our executive compensation philosophy and
objectives. When considering whether to award compensation that will not be deductible, the Committee compares
the cost of the lost deduction against the competitive market for executive talent and our need to attract, retain and
motivate the executive, as applicable.
For fiscal 2014, the Committee believes it has taken the necessary actions to preserve the deductibility of all
payments made under our executive compensation program. If the IRC or the related regulations change, the
Committee intends to take reasonable steps to ensure the continued availability of deductions for payments under
our executive compensation program, while at the same time considering our executive compensation philosophy
and objectives and the competitive market for executive talent.
Summary Compensation Table for 2014
Name and Principal
Position (1) Year
Salary
($)(2) Bonus ($)
Stock
Awards
($)(3)
Option
Awards
($)(4)
Non-Equity
Incentive Plan
Compensation
($)(5)
Change in
Pension Value
and Nonqualified
Deferred
Compensation
Earnings
($)
All Other
Compensation
($)(6)(7) Total ($)
(a) (b) (c) (d) (e) (f) (g) (h) (i) (j)
David J. Campisi,
Chief Executive Officer
and President (8)
2014 942,308 — 6,458,624 — 1,149,690 — 155,778 8,706,400
2013 678,461 — 2,714,418 1,407,945 — — 562,405 5,363,229
Timothy A. Johnson,
Executive Vice President,
Chief Financial Officer
2014 503,846 — 1,422,946 — 336,651 — 48,043 2,311,486
2013 452,885 — 1,401,725 485,600 — — 54,229 2,394,439
2012 359,827 — 1,120,050 558,150 — — 33,627 2,071,654
Lisa M. Bachmann,
Executive Vice President,
Chief Operating Officer
2014 646,154 — 1,892,202 — 429,065 — 58,125 3,025,546
2013 620,385 — 1,818,725 485,600 — — 39,354 2,964,064
2012 593,942 — 1,315,500 571,200 — — 38,361 2,519,003
Richard J. Chene,
Executive Vice President,
Chief Merchandising
Officer (8)
2014 500,000 — 1,345,571 — 330,050 — 32,744 2,208,365
Michael A. Schlonsky,
Senior Vice President,
Human Resources and
Corporate Secretary (8)
2014 404,615 — 883,032 — 225,541 87,072 44,517 1,644,777