Ingram Micro 2007 Annual Report Download - page 11

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received a $6 million cash retention bonus in 2007 under the terms of the 2005 Agreement since he remained as the
non-executive Chairman of the Board through June 1, 2007. While Mr. Foster was our non-executive Chairman of
the Board, he also received an annual non-executive Chairman’s compensation package comprised of an annual
award of cash and equity-based compensation with an estimated value of approximately $650,000, plus the standard
Board of Director’s compensation package comprised of an annual award of cash and equity-based compensation,
with an estimated value of approximately $167,000.
2007 Compensation of Non-Management Directors. The following table lists the 2007 non-management
director compensation which is comprised of: (1) an annual Board retainer payable in cash, stock options, restricted
stock, restricted stock units or a combination thereof, based on each Board member’s election, (2) meeting fees paid
for attending meetings of the Board and Board committees, and (3) additional compensation for the non-executive
Chairman of the Board and former non-executive Chairman of the Board as discussed above.
DIRECTOR COMPENSATION
(for fiscal year 2007)
Name
Fees Earned
or Paid
in Cash ($)
Stock
Awards
($)(1)
Option
Awards
($)(2)
Non-Equity
Incentive Plan
Compensation
($)
Change in
Pension
Value and
Nonqualified
Deferred
Compensation
Earnings
All Other
Compensation ($) Total ($)
Howard Atkins(3) . . . . . . . . $103,000 $110,000 — — — — $ 213,000
Kent B. Foster(4) . . . . . . . . 150,991 275,509 — — — $6,004,384(5) 6,430,884
Leslie Heisz(6) . . . . . . . . . . 36,000 150,000 — — — — 186,000
John R. Ingram(7) . . . . . . . . 110,500 110,000 — — — — 220,500
Martha R. Ingram(8) . . . . . . 98,500 — $111,333 — — — 209,833
Orrin H. Ingram II(9) . . . . . . 106,000 — 111,333 — — — 217,333
Dale R. Laurance(10) . . . . . . 40,500 125,000 182,179 — — — 347,679
Linda Fayne Levinson(11) . . 108,750 70,000 40,488 — — — 219,238
Gerhard Schulmeyer(12) . . . . 119,500 110,000 — — — — 229,500
Michael T. Smith(13) . . . . . . 127,000 85,000 25,305 — — — 237,306
Joe B. Wyatt(14) . . . . . . . . . 130,500 — 111,333 — — — 241,833
(1) Unless otherwise noted, restricted stock or restricted stock units disclosed under “Stock Awards” were granted
on January 3, 2007 and restrictions lapsed on December 31, 2007. The amount disclosed reflects the actual
amounts elected to be received by each Board member. The company expensed the grant date fair value of the
awards determined pursuant to FAS 123R of $20.70 per unit and is equal to the closing price of Ingram Micro
common stock on the NYSE on January 3, 2007 (the date of grant). Since the Company’s 2007 fiscal year
closed on December 29, 2007, the amount recognized in the financial statements for the fiscal year then ended
is slightly less than the full grant amount, with the balance being recognized in the 2008 fiscal year.
(2) Unless otherwise noted, stock options disclosed under “Option Awards” were granted on January 3, 2007 with
an exercise price of $20.70 per share (equal to the closing price of Ingram Micro common stock on the grant
date), vest one-twelfth per month over a twelve-month period commencing January 31, 2007, and expire
10 years less one day from grant date. Since the information required to be disclosed under this column are the
amounts equal to the grant date fair value of the awards determined pursuant to FAS 123R, these amounts may
not conform to the exact dollar value of equity awards selected by our Board members. The $7.9766 per share
fair value of the January 3, 2007 stock option award was determined in accordance with FAS 123R using a
Black-Scholes model and the following assumptions: stock price volatility of 37.98%; expected option life of
4.5 years; dividend yield of 0%; and risk free interest rate of 4.668%. See notes 2 and 11 to Ingram Micro’s
consolidated financial statements on the Company’s Annual Report on Form 10-K for the fiscal year ended
December 29, 2007, which was filed with the Securities and Exchange Commission (the “SEC”) on
8